Allow me to begin your education about what will give us a functioning economy



The financial system’s only purpose is to enable growth in the productive economy. Only when we have a functioning economy can we be put society on a path to prosperity for all.

“Educate and inform the whole mass of the people… They are the only sure reliance for the preservation of our liberty.” – Thomas Jefferson
And let me tell you, everyone needs an education on economics because it must be the first thing and last thing we should be concerned with. The politicians who steer the economy claim they know what they are doing but how can someone believe this is true without knowing anything about economics ?

And there are lot of people out there who are whistleblowing and trying to educate the whole mass of the people about how an economy grows and why it crashes. These people make ever so brief appearances on CNBC and Bloomberg in between other people who have lost credibility since 2007/8. It was like a light bulb went off above my head watching these people whose credibility has only been growing since 2007/8.

Should we all educate ourselves with Peter Schiff’s book ‘How an economy grows and why it crashes’ ? I think we should.

And, of course, Texas Congressman Dr. Ron Paul knows a thing or two about economics being a student of the Austrian school of economics and he is the guy who is waking up millions of people all across America and millions of people all across the rest of the world all of whom are being converted to the Austrian school of economics. And Dr. Ron Paul, the grass roots candidate, will be going to the Republican National Convention at Tampa, Florida in August where their Presidential Nominee will be chosen along with the establishment candidate, Mitt Romney. But seriously, what has former Massachusetts Governor Mitt Romney got to teach America and the world ? And what has President Barack Obama got to teach America and the world ? And what has David Cameron, Nick Clegg and Ed Milliband got to teach the world ?

‘When the pupil is ready the teacher will appear.’ – Texas Congressman Dr Ron Paul is the teacher this Buddhist proverb is referring to.

Is Dr Ron Paul a white knight riding in to rescue us from our current flawed economic system run since 1936 by students of the Keynesian school of economics when it has it’s next crisis ? Only with the help of the millions of people who have learned how an economy grows and why it crashes.

At the end of March 2012 the B.R.I.C.S. group of nations, which are some of the creditor nations of the world, decided they would form agreements and organisations outside of the American dollar and separate from the International Monetary Fund and separate from the World Bank and separate from the Bank of International Settlement so when this flawed system fails will have an alternative already up and running.

Who finds it strange that Christine Lagarde the head of the International Monetary Fund is going from meeting to meeting holding out her handbag, Gucci or Versace, and asking nations to ‘put some money in my bag’ ? This is the same International Monetary Fund that has put nation after nation into unsustainable debt to fund the building of proverbial infrastructure white elephants that do nothing to reduce the cost of doing business in that nation’s economy ? Because I said unsustainable debt brings me to ask another question: is there not the international equivalent of fraudulent conveyance ?

The International Monetary Fund, the World Bank and the Bank of International Settlement have been around since before I was born and I can say that I will be glad to see them reformed or more likely dissolved so that we can plug into the system that the B.R.I.C.S. group of nations is forming.

So now please allow me to educate you about the nature of a recent financial Credit Default Swap contract.

Many critics have drawn the analogy of a Credit Default Swap as that of a building and content insurance policy being available not just to the owner-occupier or landlord but to numerous third parties, perhaps some of the guys neighbours. When such a property gets burned to the ground, accidentally of course, then all of the policy holders will expect to be paid full value for the property, the owner-occupier or landlord of course, but also the numerous third parties.

Some might compare a Credit Default Swap with a bet from a bookmaker but I would argue that it is the value of a CDS which operates as the bookmaker’s odds because it will go down the less likely the underlying debt is to be defaulted upon and go up as a default upon the underlying debt becomes more likely. If my argument is correct then the potential exists for all of the payouts on the Credit Default Swaps for an underlying debt to be many multiples of the value of the underlying debt.

Now, either the concept of the Credit Default Swap is insane or I am insane or both.

The situation with CDS has changed following the recent write down of Greek bonds, JP Morgan and others either pay out for the CDS they sold but had never set aside sufficient capital for or the CDS marketplace loses all credibility.

The payout from AIG to various parties holding CDS but not holders of the asset being ‘insured’ was £185 billion, money that could have been used to grow the productive economy but without it has the economy suffered ?

I hope I have now educated you about the nature of the Credit Default Swap now that they are finished as a viable contract. No doubt historians in decades to come will mention what folly the CDS was in the same breath as the South Sea bubble and the Tulip bubble.

I would much rather we have a financial system whose only purpose is to enable growth in the productive economy. Only when we have a functioning economy can we be put society on a path to prosperity for all.

JP Morgan is not off the hook yet. It would appear that they had a role in the destruction of the Knickerbocker Trust which precipitated the 1907 financial crash, and it was JP Morgan and perhaps others who furnished speculators with margin loans in the 1920s only to call in those loans in October 1929 resulting in a 90% decline in the value of the stock market. Now, is it too much ask for that participants in the financial system don’t periodically wreck the economy ?

Now, please allow me to educate you about the nature of Naked Short Selling.

Many critics equate naked short selling with counterfeiting. Normal short selling is when you first borrow the asset from those owners willing to lend it then sell it in the marketplace in the hope that the price goes down and you can buy it back at a cheaper price, give it back and pocket the difference. But naked short selling is when you sell into the marketplace something that you did not first borrow and there is no limit on the amount someone can sell of what they had not first borrowed.

I hope I have now educated you about the nature of Naked Short Selling.

I would much rather we have a financial system whose only purpose is to enable growth in the productive economy. Only when we have a functioning economy can we be put society on a path to prosperity for all.

I seem to recall that assurances were made that the ‘too big to fail’ casino banks would be downsized from their size going into the crisis of 2008, but I understand that some if not all have in fact become bigger not smaller.



A 12-Year-Old Girl Crushes The Canadian (and American) Dream


“Public Banking Institute, Banking in the Public Interest.”


“Presently, the banks only have 4 billion dollars on reserve but they have loaned out 1.5 trillion dollars.”


“Never doubt that a small group of people can change the world, indeed it is the only thing that ever has.”


Now a particular consequence of zero interest rate policy and quantitative easing is that savers are being forced to enter into riskier investments in the hunt for a greater return on their savings but when everything stinks to high heaven the saver is stuck.


The American Dodd-Frank bill that was passed back in 2010 to supposedly overhaul the financial sector is 2,300 pages long and I understand that some provisions still have not been implemented yet.
Who needs 2,300 pages of financial regulation ? I know what the ultimate financial regulation is: when an entity makes a loss in excess of it’s available capital then that entity is forced into bankruptcy. Job done.

The unnecessary deaths of 500,000 Iraqi children at the hands of medicinal sanctions is something I would hope that a conscientious human being would think even just a little about. Politics is too important to leave politicians to their own devices.

The unnecessary deaths of 1.000,000 innocent Iraqi civilians at the hands of a military force on the claim a guy had weapons of mass destruction is something I would hope that a conscientious human being would think even just a little about. Politics is too important to leave politicians to their own devices.

The unnecessary deaths of an estimated 100,000 innocent Libyan civilians at the hands of NATO on claims that have not been verified and some that have shown to be false is something I would hope that a conscientious human being would think even just a little about. Politics is too important to leave politicians to their own devices.

I want to speak for these victims otherwise who will ?

And get educated, our future may depend upon it.

USA Headed For Tremendous Shock – (Multi-billionaire) Hugo Salinas Price Hugo


I would have given this the title “the whole world is sinking into a sea of paper”.


“the people are not aware that the money they are using is completely baseless and just numbers, it has no substance. The world is on the worst of all possible drugs – fiat money – and this is destroying the world.”


“Gold and silver is a defensive measure, it’s not a productive measure. Ideally we should all be using gold and silver as money and using it to further production.”


Compare this with Buffett’s right hand man, Charlie Munger: “Gold is a great thing to sew into your garments if you’re a Jewish family in Vienna in 1939 but civilized people don’t buy gold – they invest in productive businesses.”



German Bundesbank – Waving the White Flag … print more money than any of us can now imagine READ MORE


The Real Price of Silver – 5.13.12


“Some people asking for $40 for those coins.”


The premiums for physical silver over the spot price is nearly double.


My eBay price remains at £29.99/oz for Phils/Maples and £31.75/oz for Libs but if the Guernsey Mint goes out of stock then I will withdraw from selling because I would not be able to increase my stack of physical silver.





Must See: Greece Explained In One Picture


Attached is “a picture taken at the Athens ministry of finance.”



“not only is Greece not fixed, but is days away from leaving the Eurozone, but at a cost to taxpayers of nearly half a trillion.”


Ben Davies – 3rd LTRO Coming & Fed to Power Up Swap Lines


“Is it that the derivatives risk is becoming more and more centered with a few banks, and collateral is just not forthcoming because the collateral has been promised many times over?  As we move towards central clearing of these contracts will we see legal reconstitution of said contracts to obfuscate the reality that they are worthless? They are being exposed for the sticks of dynamite, under the foundations of the financial system, that they are.”


The unsinkable ‘too big to fail’ JP Morgan with its unit supposedly mitigating risk has hit the iceberg and right now the iceberg is scraping along the hull of the ship popping water tight compartments after water tight compartments.

The luxury liner Titanic sank a few hours after it’s fateful encounter with their iceberg, how long has JP Morgan and this flawed financial and monetary system got before they sink ?


How many of the world’s 7 billion people are destined to go down with this ship ?


Fitch Downgrades JPM To A+, Watch Negative



The “Fail-Whale” Fallout Begins: Three JPM Execs To Leave Prop-Trading, Pardon Hedging Bank


JPM Blowtorching Continues As IG Surge Refuses To End
potentially an additional $3.4bn loss for JPM already
This just gets better and better until such time as the non-Federal non-Reserve bails them out with new dollars that the American taxpayer is on the hook for.
What Was Not Said During Jamie Dimon’s Media PR Campaign



“Finally, the most important thing not said, was Glass-Steagall, the one law whose overturning allowed the commingling of deposits and hedge fund activity courtesy of Gramm-Leach-Bliley, hilarious called the Financial Services Modernization Act of 1999. If America is to have even a remote hope of returning to normalcy, Glass-Steagall has to be reinstated. Which is why nobody brought it up on MTP: neither the anchor who is accountable to an organization which needs the status quo for advertising revenues, nor the hungry for TV exposure senator, nor the DCF-expert access journalist. Nobody.”



What Was The Ultimate Cause Of JP Morgan’s Big Derivative Bust? The Shocker – Ben Bernanke!!!
“The JPM prop desk that held the losses which generated headlines earlier this week was marketed as a hedging operation when we all know it was anything but. What it was was a concerted grasp for yield and profit in a ZIRP environment where JPM (one of the world’s largest congregations of interest bearing assets) was bearing effectively no interest.”
JPM “Retires” Ina Drew, Appoints Former LTCM Trader And Chairman Of Treasury Borrowing Advisory Committee As Replacement
The same Long Term Capital Management, long defunct, that George Soros was involved with I take it.
I wonder what the story is with George Soros and LTCM ?
An Ex-LTCM Trader Will Be Overseeing $70 Trillion In Derivatives
Failing upwards I see.
Tavakoli: JPMorgan May Be a Trading Accident Waiting To Happen Read More



Jamie Dimon’s SNAFU: JPMorgan’s Other Derivatives’ Losses READ MORE


“JPMorgan’s short coal position was over sized relative to the global coal market.”


Make the Bankers Pay: Iceland, Ireland pushing back against neo-feudalism Read More


In The News Today 05-12-12 by Jim Sinclair


“Inflation is the increase of money supply.”


“Deflation is the failure of debt, both public and private.”


Crash JP Morgan, Bye Jamie Dimon?


“The fact that a ‘bank’ is trading ought to be problematic. We are so far down the rabbit hole on this stuff it’s ridiculous.”


“Either woefully inadequate these people are for the jobs, how ridiculous overpaid they are for their jobs or how blindingly stupid we are for allowing this to happen in the first place.”


The 2 Billion Dollar Loss By JP Morgan Is Just A Preview Of The Coming Collapse Of The Derivatives Market


failed hedge


Much, much, much more failed hedges to come.


JPMorgan Loss May Be `Tip of Iceberg,’ Kopecki Says



Voting counts. Really. Check this out.


“Most voters have no way of knowing if their lawmakers are actually casting their own vote.”


“Section 47. Voting for Another Member – Any member found guilty by the house of knowingly voting for another member on the voting machine shall be subject to discipline deemed inappropriate by the house.”


How about their constituents demanding their immediate resignation ?
Warren Who? Gold Bugs Still Think They Have Right Idea Read More


“Buffett and Gates primarily don’t like gold because of its lack of intrinsic value. It’s not the same as holding shares in a company that has a clear revenue stream and business model, which in turn make it comparatively easy to value. (Buffett’s right-hand man at Berkshire Hathaway, Charlie Munger, has been less diplomatic, suggesting in an interview Thursday that no “civilized person” should own gold.)”


Gold Cover Clause Guidance


“The quantitative easing is based in extreme desperation, as the USGovt has lost the majority (80%) of its foreign creditor support.”


“The celebrated bond monetization assures the steady rise in cost structure which forces a vanishing of business profitability.”


“Iceland stands as the workable model, whose solution rested on nationalizing the banks and repudiating debt held by banks.”


“The smell of monetary ruin is everywhere, as investment houses and private investments struggle to determine what money is anymore.”


“It surely is not the fiat paper coerced as legal tender that is backed by debt and not output. However, in this perfect situation for gold investment, the main thrust powerpack is negative real rates. The prevailing ultra-low official interest rate is far below the reality-based prevailing price inflation rate. Even the 2% yield on the 10-year USTreasury is far below the true price inflation, whose annual rate is measured between 9% and 11% for several months by the unerring Shadow Govt Statistics craftsmen.”

All the proverbial rooms in the proverbial fiat hotel are burning at varying intensities while gold and silver are outside the hotel and out of harm’s way.


“The mainstream has chosen to trot out some supposed experts among the elite business class. The banker class has been discredited.”


“Oracle Warren Buffet sold silver early, so he claims, back in 2003. What a grand lie! He followed Hank Greenberg’s lead and created an income stream in selling option calls. The practice made Warren a liar, since he constantly proclaimed precious metals offered no income.”


“Their stock & trade is naked shorting of the metal, selling paper futures contracts with no posted collateral.”


I’ve said this before, we have not seen a proper market valuation for silver since 1873 and while central banks have gold they do not have any silver so how is investment demand going to be satisfied ? Are people who converted out of paper going to convert back en masse ? I don’t think so. I think you will be picking many people up off the floor when a proper market valuation of silver finally.


“investment in protection is highly prudent and justified against inflated asset breakdown, against debt saturation implications, against secretive elite cornering of official aid, against bailouts with new debt to cover old debt, against sovereign bond crumbling, against absent economic stimulus with meaning, against systemic capital ruin, against chronic job loss.”


“Their innovation was evident in the crappy products released for database management, like MS Access which is denigrated by every database expert the Jackass ever talked to. Oracle DB is for professionals, and MS Access for amateurs lacking standards of excellence who are required to use it.”


“Back in 1971, when the Bretton Woods Accord was broken, the gold price was officially set by force at absurd level, like under $40 per ounce. It quickly zoomed in the next decade to $800 in a relief exercise much like a jailbreak of a bunch of anxious men bent on seeking fun after restricted times.”



“The gold cartel illicitly extended the fractional practice to their gold management scheme. Investors typically place their gold bullion in the custody of the big banks, which assign Allocated accounts (metal bars identified with specific owners) or Unallocated accounts (cumulative metal pooled with owners of redeemable certificates). Unbeknownst to many supposed allocated account holders, their gold bullion metal is gone, treated to pooling improperly. This is precisely the basis of several multi-$billion lawsuits in Switzerland. The financial press prefers to genuflect and not mention the story to the public, for fear of alarming the investment community into a veritable stampede. The Swiss violations were tipped off to the Jackass in the summer 2010, having escalated into a national crisis but of hidden proportions.”


This fractional practice is the banking equivalent of drilling shafts through a gold bar and filling them with tungsten.


“Prepare for a simultaneous currency launch that will shake the Western power structure to the core and cause financial tsunamis from the grand tremors. The trigger could very likely be the sudden collapse of key nations like France, Spain, and Italy together as they reject austerity and push the bond market past the limits.”


“The upcoming Eastern SWIFT bank transaction system is almost ready for prime time, its development in progress. The Chinese will take the lead position, taking the flack, pushing the process, which will not resemble the current SWIFT system in the flow vehicle.”


“During all this, the stifling MFGlobal effect has removed many legitimate players from the COMEX. It will become an irrelevance, an empty stadium. Perhaps the new Asian exchanges will thwart the Western influence (Rock & Roth gangsters) and take up the slack to produce an honest risk hedge market with price discovery brokering. The disintegration of COMEX, and deterioration of USEconomy will be events for the ages. They already are.”


“Repeatedly, my gold trader source, who has numerous billionaire clients on three continents, informs that truly gigantic buy orders are sitting between 1600 and 1680, spaced by 10 dollars apart, having greater volume with each lower notched price in an inverted pyramid. The Eastern Coalition is angry and motivated, fitted with well over $50 billion in a war chest, determined to wreck the New York and London bankers and remove them from their corrupt perch. Gigantic buy orders are being filled, the victims being gold cartel member banks themselves. They are highly vulnerable. They are strapped for cash, confirmed by a separate source. They face margin calls on sovereign bonds of Europe, compounded by some bad FOREX positions. To extract themselves from the pinch of the margin calls, the cartel banks are being forced to sell out their precious metals bullion held in reserve, in order to obtain desperately needed cash. This is a new phenomenon, not seen a year ago, in a total reversal used against them, since in the past, the cartel used the same methods against client hedge funds.


“The first victim was UBS, stripped of their gold last summer. A hint was given that the next victim might be Deutsche Bank. My other guess is a London player like Barclays is being stripped of its gold, or a big US bank turned timid after the MFGlobal attention. Major players are falling victim to the global financial crisis, better described as the global monetary war in which the USDollar and its USTreasury trading vehicle are the weapons of mass destruction. The race is on to replace them. The Chinese and their allies are the Team East in charge of overturning the current power structure dominated by gold story propaganda, mortgage bond fraud, hidden USTBond monetization, diverse market interference, private account theft, chronic naked futures shorting, controlled regulator puppets, rifled allocated gold accounts, salted gold bars, expansive derivative schemes, abuse of leverage, and numerous $trillion role programs conducted by the USDept Treasury and the Bank of England.”


“The new monetary platform will have many aspects, such as a vertically structured barter system, a handful of hard asset currencies, and potentially an element of gold in trade settlement. The role of gold in trade settlement is taking shape, a movement which will turn the USDollar into a widely discarded toxic paper, a ticket to the Third World. These are exciting times, if one can avoid the traps and pitfalls, including hooligans bearing USGovt badges offered bounty working against enemies of the state (without definition).”


TFMR Podcast #19 – Jim Willie


“Jim Willie is an original. If you want to be official about it, you can call Jim a “statistical analyst” as Jim has a PhD in statistics from Carnegie Mellon. Since 2004, however, he’s simply been known as “The Golden Jackass”.”


“The loss isn’t $2 billion, it’s $18 billion. And the company is claiming that they’ve got some losses on sovereign debt in Europe in the last 6 weeks. Well a little of research, nothing real complex shows that the 10 year Italian bond has gone from 5 to 5.5%, that’s not huge. The French bond has gone from 2.8 to 3.0, that’s not huge. The Greek bond has gone from 35% to 20 so that’s gone the other direction. So I would say ‘JP Morgan, once again, you’re a liar’.”


“The LTRO has been a disaster.”


“JP Morgan is acting as intermediary for a lot of these European banks to help hold together. They’re trying to hold together Deutsche bank. It’s a major project right now. Deutsche bank is insolvent right now. I’m being told that they’re likely not going to survive the next round of this financial crisis. And what a gigantic tree falling in the woods Deutsche bank would be.”


“Has given them an almost, darn near infinite exposure if rates were to actually go back up to even 3%. And when the 10 year went from 1.9 to 2.4 … those are the losses that JP Morgan is now seeing.”


“I think the U.S. is stuck with ZIRP forever.”


“These big European banks a getting giant margin calls for bonds and currencies and here’s the conclusion, here’s the zip line, the finally zinger at the end. These big Eastern forces that have a 50 billion or more dollar war chest are forcing the gold cartel banks to give up their gold to get out of their margin calls.”


“Western Europe, the U.S. and England enter the Third World.”


“The dollar kill switch… It’s where the Arabs and OPEC nations, in particular the Saudis who will lead pretty much that whole movement, the Saudis agree will not necessarily require the dollar for oil payments.”



Don’t Be Seduced, Why Summer Will Be Disastrous for Markets,_Why_Summer_Will_Be_Disastrous_for_Markets.html


“when asked about the JP Morgan debacle, Pento responded, “I blame the Fed, like I do for much of the world’s ailments.  The Fed buys a bond from JP Morgan, yielding say 2% on the  10-Year, and then they expect the bank, JP Morgan, to accept 25 basis points from the Federal Reserve.  Now, they have to beat earnings by a penny, so what do they do?””


““Instead of allowing the 25 basis points to be given to them by the Federal Reserve, they go out and buy distressed European debt, and they hedge it by buying a CDS (credit default swap).  Then the hedge blows up and they report a loss.  So, once again, the Fed and the banks are to blame.”


“Now, you don’t need any new regulations.  All of these Keynesians come out and say, ‘Well, we have to over-regulate the banks and step up more Dodd-Frank and all of these regulations.’  Well, we had a good regulation, it’s called the ‘gold standard.’  That’s the best bank regulator ever conceived.  It’s a free market based system of money. ”


“Under a gold standard, banks would be much more careful when they make a loan.  They knew (under the gold standard) that the Federal Reserve wasn’t there to bail them out….”


““There is no central bank ready to expand the money supply by decree (on a gold standard).  So, what would banks do?  They would make loans to create capital goods, factories, mines, utilities, commercial and industrial loans, loans that grow an economy.  (They would) not gamble on a synthetic CDO that blows up in their face.”


“When it blows up, people will be clamoring to return to sound, honest money, free market based money.  But not until the whole thing blows up, and it’s blowing up right now in Europe.”



Gold, Major Markets, What to Expect this Summer & More – Michael Pento


1800′s Campaign Posters Attacking Free Silver Silver Doctors


The banksters can have their fiat paper money costing nothing and worth nothing and the people will have silver which does cost something and is worth something.



For Silver, The New World Order is the Old World Order


“Can’t you taste the empty promises of Roman politicians and the spoiling indifference and anger of the Roman population, as if you were there?”


“In order to keep on funding aggressive military conquest and a slave force, the government had to either mint coin, tax aggressively or default. If they defaulted there was a chance the military would revolt.  And so, as today, inflation was the easier pill to swallow, which worsened as workers died and trade declined.”


“First, coins debased were viewed as the same value as those less debased. Over time this trend changed, and those coins severely debased became undesirable and sometimes worthless. With this debased money, trade became more-and-more difficult for Rome as goods rose in price. Wealthy individuals sought to hedge themselves by hoarding those coins not debased.”


“It was a financial agent of the English Crown in the city of Antwerp after whom was coined (pun intended) the term “Gresham’s law” so as to explain to Queen Elizabeth I what her father, Henry VIII, was doing to the English shilling. Henry VIII had by then replaced 40 percent of the silver in the coinage with base metals as a means of increasing the government’s income without raising taxes.”


It was owing to these debasements, Gresham observed to the Queen, that “all your fine gold was convayed out of this your realm.”[8]


“Queen Elizabeth heeded the lesson of Gresham and instituted a plan to restore the shilling with silver. The English shilling thereafter became a much sought-after coin in international commerce and put Britain on the road to become the superpower that it was.”


If anybody has any idea of hoarding our silver coins, let me say this. Treasury has a lot of silver on hand, and it can be, and it will be used to keep the price of silver in line with its value in our present silver coin. There will be no profit in holding them out of circulation for the value of their silver content.

Has the Treasury got any silver today ? Hell, no.


I commend the new coinage to the Nation’s banks and businesses and to the public. I think it will serve us well.


“Silver has been systematically taken out of the hands of the people in each-and-every nation where, at one time, it was in the money – indeed, where it was the money. Three major examples in history of empire, as even mainstream academia cites, are the Roman Empire, the British Empire & the American Empire.”


Rockefeller, Trilaterals, & The Bilderberg Group, Banks and Government, Facebook, Italy by Warren Pollock


Boycott these parasites.


How to Achieve Nutritional Victory


“Mike talks with Len Saputo, a board certified doctor of internal medicine and the founder of the Health Medicine Forum, a non-profit educational foundation.


Modifilan – pure brown seaweed extract.


Mike Adams used to be border line obese, border line diabetic type 2.



Qatar, S. Arabia, Turkey, and USA: Stop Smuggling Arms and Terrorists into Syria, Honor Annan Plan!


“Syria’s Permanent Representative to the United Nations, Dr. Bashar al-Jaafari, stressed on Thursday that sending and smuggling weapons into Syria contradict any political solution to the crisis and constitute an effort to assassinate the mission of the UN envoy to Syria Kofi Annan.”


“Al-Jaafari pointed out that recently the terrorist acts have increased and extremist groups have started to carry out unprecedented criminal acts based on Takfiri and extremist fatwas.”


“Damascus had a bloody day as two blasts shook the city leading to the death of 56 innocent people and injuring 372 people as well as 15 unidentified bodies, al-Jaafari noted.”


““UN envoy to Syria, Kofi Annan, and Head of the UN Observer Mission in Syria, Gen. Robert Mood, condemned the twin blasts which hit Damascus, and we are waiting for the Security Council to issue a strong and clear condemnation,” al-Jaafari added.”


“Syria’s representative said that he had a list of 26 terrorists some of them are affiliated to al-Qaeda, adding that he sent this list to the UN Secretary-General and heads of the UN Counter-Terrorism Subsidiary Bodies.”


“Russia’s Foreign Minister Sergei Lavrov condemned Damascus twin terrorist bombings, stressing that some foreign sides attempt to blow up the situation in Syria.”


Fabricating Lies to Wage War on Iran Read More


“Turning Iran into a reliable pro-Western puppet state is a long-sought US goal. All options are considered, including war.”


“Tactics include calling Iran a threat to world peace, falsely accusing Tehran of terrorist attacks, and fabricating lies about an alleged nuclear weapons program despite no corroborating evidence whatever.”


“Focusing largely on defense and security issues, the Washington-based Center for Strategic and International Studies (CSIS) advances US interests “to sustain American prominence and prosperity as a force for good in the world.” It’s closely connected to high level administration, congressional, and Pentagon officials.”


“Its trustees include top corporate and former high level political ones. They include Henry Kissinger, Zbigniew Brzezinski, Brent Scowcroft, Richard Armitage, Harold Brown, William S. Cohen, and William E. Brock”


Kissinger again, Zbig again.



Israeli PM Forms Large Coalition, Police Repress Protest


“Arrest photographers from different newspapers.”


“It’s obvious he’s doing something for his own interests.”


“Greater chance of an attack on Iran.”


Open Letter From Some Colorado Jews:U.S – Israel: Don’t Attack Iran


“It has been heatedly expressed by Major General Meir Dagan, former Israeli Mossad Director (2002 – 2011) who said, “[Attacking iran] would mean regional war and in that case you would be giving Iran the best possible reason to continue the nuclear program.” He adds it’s “the stupidest thing I ever heard.””


Give me liberty or give me debt


“Americans 60 years or older still owe $38 billion in student debt and 10% of that is past due on payments.”


Fraudulent conveyance ?



Home Owners Across the USA Sue (for trillions) All Bank Servicers and Their Offshore Havens 

“alleging that while the Obama Administration was publicly encouraging loan modifications for home owners, it was privately ratifying the formation of these shell companies in violation of the United States Patriot Act, and State and Federal law.”


The anti-terrorism law we should really call the unPatriot Act or the Repeal the Fourth Amendment Search Warrant Requirement Act has been broken by the federal government itself. Now isn’t that ‘priceless’, as the Barclaycard advertisement would say.


Where has the nation of law that is the constitutional republic previously known as these united States of America gone to ?


“”The laundering of trillions of dollars of U.S. taxpayer money — and the wrongful taking of the homes of those taxpayers — was known by the Administration and expressly supported by it. Evidence uncovered by the plaintiffs revealed that the Administration ignored its own agencies’ reports — and reports from the Department of Homeland Security — about this situation, dating as far back as 2010.”



Santelli On The Encumbered Youth Of The USA – paying for meal already eaten. Say ponzi


austerity is about ‘past due bills’. From birth (where the average soon-to-be-taxpayer is already encumbered by $138k)”


“tells them straight “you are paying for a meal that previous generations have eaten”.”


“the ponzi feeds on itself once again.”



GOP Blocks Bill To Extend Low-Interest Student Loans


“if on July 1 there is still no deal, and the student protests seen in the recent past in London and Montreal spread to US campuses, where students demand the dignity to file for bankruptcy in peace… and full debt discharge. The counter of course will be whether anyone had put a gun to their head when they were taking out a loan. The counter to that counter will be that no students expected there would be zero jobs available upon graduation. And so on, in a tit for tat repeat of the housing bubble and the massive unexpected consequences as yet another $1 trillion bubble pops, which just like last time, will result in yet another broad taxpayer funded bailout, in which the all end up paying for the the few.”


So a student loan cannot be discharged in bankruptcy and while there isn’t a job for the debtor are the repayments deferred or does a defaulting debtor get told their student debt stays in place and a jail will be their residence for the foreseeable future perhaps even after repayments resume ?


Telling it Like Is and How it Will Be-Danielle Park –08.May.2012


“Credit can’t be added anymore” and our monetary overlord schmucks didn’t see that coming did they ?


Economics By and For Human Beings Read More


“Don’t control prices. Don’t socialize medicine. Don’t raise taxes. Don’t inflate the money supply. Don’t put up trade barriers. Don’t go to war. Economists just keep bursting people’s bubbles. And it’s because economists say these things that the ruling class wants them to shut up about.”



SBSS 26. Who Is Running Scared?


“What is it that we should be saving in this civilisation ? Is it the arrogant corny capitalists raping humanity with the debt schemes ? Is it our jobs shipped overseas to slave labour countries like China ? Is it the 43% of Americans who are obese ? Is it the 26 million Americans on anti-depressants ? Is it the multiple and endless wars we’re fighting ? Is it the trillion dollar student debt that’s destroying the lives of our youngest generation ? What exactly is worth holding on to ? There is only one thing in nature that takes more than it needs and it is cancer… Let the ‘too big to fail’ fail.”


“’I don’t know if you talk about bailouts for everybody else, suck it in and cope, buddy, suck it in.’ So for him it’s socialism for the rich and capitalism for the rest.”

Capitalism without bankruptcy is like Christianity without hell. The ones that are being tapped for these bailouts and QEs, LTROs.


“If debt is the problem, equity is the solution. If collectivism is the problem, individual liberty is the solution. If war is the problem, peace and understanding is the solution. If ‘too big to fail’ is the problem, then the most powerful aspect of the free market, of failure, is the solution.”


QE3 Can’t Come Soon Enough For Europe and the Banks-Ty Andros–11.May.2012


“When those corporate assets can’t roll that’s how the ‘powers that be’ gather up assets, that’s how they gathered up assets during the Great Depression.”


“It’s the greatest destruction of wealth in history, the greatest transfer of wealth in history from those who hold it in paper to those that don’t.”


“Spain was done … several 100 billion dollars worth of non-performing loans that had not previously been disclosed.”


“It means that the financial system is gone over there and they are heading for barter unless they finally pony up 2 or 3 trillion dollars at the minimum. And they can’t loan it out, they have to do what the Fed did, they have buy it. They have to buy the debt and jump on the bomb.”


“Full throated, saying: ‘you’ve got to print ‘money’’.”


“We saw the something for nothing society of France make another vote for something for nothing.”


“He (Hollande) is promising to confiscate all the wealth over a certain amount… if you make over half a million euros you better expect to write a cheque for anything above that to the state… a recipe for a crashing economy.”


“The iceberg going into the hull of JP Morgan… Is JP Morgan the Titanic, the unsinkable ship ?”


“They always said that derivatives were going to blow the financial system, Warren Buffett that classic comment that derivatives were WEAPONS OF MASS FINANCIAL DESTRUCTION and we’re living to see the truth of that come up.”


“The entitlements have swallowed everything.”


“Either you are an Austrian, you’ll learn the lessons of history and Austrian Economics or you’re a Keynesian and you will be dead.”


Treasuries and Derivatives Blow Up? So Where Do You Go …


“According to a recent Reuters article, US financial advisors are actually growing leery of US Treasury bonds.”
EU Bust as Internet Reformation Rolls On .. Read More @


“Here at the Daily Bell one of the things we are (modestly) known for is our perspective that the Internet and the information it distributes would have a huge impact on Western government and the one-world global elite conspiracy, which thrived under the cover of darkness.”


Do some people somewhere somehow desperately want a unitary global government ? Just how responsive do you suppose such a global government would be to the guy on the street ?



The Official Bankster Dictionary


“As people in China told me, “At least when bankers lie to us here, everyone knows that they’re lying. No one believes these lies to be the truth. In the US, you guys actually believe that the lying bankers are telling you the truth.””



R. James Woolsey: The OPEC ‘Cartel’ and Its Oil Monopoly


“They lift oil in the Persian Gulf anyway for very few dollars a barrel. The rest of OPEC lifts it for under 10 dollars a barrel. We lift for several 10s of dollars a barrel. Yes, it’s great to read headlines about how we’ve got several Saudi Arabia’s worth of tar sands and so forth under Colorado or North Dakota.”



USA (allegedly) Has Plenty Of Oil: 10 Facts About America’s Energy Resources That Will Blow Your Mind


Perhaps this is only worthy of Inspector Jacques Closeau or perhaps not. But either it is false in which case we can all go back to sleep or we don’t know enough or it is true in which case we are being subjected to a transfer of wealth among other things.


#1 Back in 1995, the U.S. Geological Survey told the American people that the Bakken Shale formation in western North Dakota and eastern Montana only held 151 million barrels of oil.”


“Today, government officials are admitting that it holds 4.3 billion barrels of recoverable oil, and some analysts believe that the actual number could be closer to 20 billion barrels of oil.”


“#2 It is estimated that there are up to 19 billion barrels of recoverable oil deposits in the tar sands of Utah.”


“#3 It is estimated that there are at least 86 billion barrels of recoverable oil deposits in the Outer Continental Shelf.”


“#4 It is believed that there are 800 billion barrels of recoverable oil deposits in the Green River formation in Wyoming.”


“#5 Overall, the United States is sitting on approximately 1.442 trillion barrels of recoverable oil deposits.”


According to Wikipedia “Proven oil reserves in Saudi Arabia are the second largest claimed in the world, estimated to be 267 billion barrels”


“#6 According to the Institute of Energy Research, the United States has a 120 year supply of natural gas.”


“#7 According to the Institute of Energy Research, the United States has a 200 year supply of oil.”


“#8 According to the Institute of Energy Research, the United States has a 464 year supply of coal.”


“#9 According to Pastor Lindsey Williams, absolutely gigantic oil fields have been discovered up in Alaska that the American public is not being told about.”
Destroy A Country One City At A Time READ MORE


“Parts of the South Bronx in New York reached that condition as a result of rent controls which made it impossible for landlords to maintain their buildings. It was cheaper to walk away from their investments and they did.”


Price controls never, never, never work. All they do is close the businesses whose escalating input costs drown it in red ink.


“Detroit plummeted from 1.8 million citizens to 912,000 today.”



Club of Rome Report: We Are Doomed – the “scarce resources” meme, again


“The “global citizens” at the Club of Rome are at it again. They are warning that if we don’t allow government to scale back civilization, we’re doomed.”


“More recently, a group of sixteen world-renowned scientists declared there “is no compelling scientific argument for drastic action to ‘decarbonize’ the world’s economy.”


Bracing for Demographic Winter: The “Overpopulation Crisis” READ MORE


“A new round of calls for punishing austerity and depopulation strategies have sprung up in the wake of a Royal Society report ringing the alarm on the so-called overpopulation crisis. The report, entitled “People and the Planet” was published on April 26th and followed up by a flurry of articles by the usual suspects dutifully parroting the society’s dire warnings about the future of humanity in a crowding world. Paul Ehrlich was even trotted out to chastise the Society for not going far enough in their report, instead intimating that 5 billion people would have to disappear from the face of the earth for the population to be at a “sustainable” level.”


The power elite fear peddling is getting so, so, so tiring.



Sibel Edmonds Finally Wins READ MORE


“Edmonds found at the FBI translation unit almost entirely two types of people. The first group was corrupt sociopaths, foreign spies, cheats and schemers indifferent to or working against U.S. national security. The second group was fearful bureaucrats unwilling to make waves. The ordinary competent person with good intentions who risks their job to “say something if you see something” is the rarest commodity. Hence the elite category that Edmonds found herself almost alone in: whistleblowers.”


“They told her about an Iranian informant, a former head of SAVAK, the Iranian “intelligence” agency, who had been hired by the FBI in the early 1990s. He had warned these two interpreters in person in April 2001 of Osama bin Laden planning attacks on U.S. cities with airplanes, and had warned that some of the plotters were already in the United States. Sarshar and Amin had submitted a report marked VERY URGENT to Special Agent in Charge Thomas Frields, to no apparent effect.”


“One has to wonder what U.S. public opinion would make of an Iranian having tried to prevent 9-11.”


“Next, a French translator named Mariana informed Edmonds that in late June 2001, French intelligence had contacted the FBI with a warning of the upcoming attacks by airplanes. The French even provided names of suspects. The translator had been sent to France, and believed her report had made it to both FBI headquarters and the White House.”


“Edmonds translated other materials that involved the selling of U.S. nuclear information to foreigners and spotted a connection to a previous case involving the purchase of such information. The FBI, under pressure from the State Department, Edmonds writes, prevented her from notifying the FBI field offices involved. Edmonds has testified in a court deposition, naming as part of a broad criminal conspiracy Representatives Dennis Hastert, Dan Burton, Roy Blunt, Bob Livingston, Stephen Solarz, and Tom Lantos, and the following high-ranking U.S. government officials: Douglas Feith, Paul Wolfowitz, and Marc Grossman.”


Prominent neocon Paul Wolfowitz.


“Then Edmonds discovered that Jan Dickerson had been forging her (Edmonds’) signature on translations, with Feghali’s approval. Then Edmonds’ colleagues told her about Jan taking files out of other translators’ desks and carrying them out of the building. Dickerson attempted to control the translation of all material from particular individuals. Dennis Saccher, who was above Feghali, discovered that Jan was marking every communication from one important person as being not important for translation. Saccher attempted to address the matter but was shut down by Feghali, by another supervisor named Stephanie Bryan, and by the head of “counterintelligence” for the FBI who said that the Pentagon, White House, State Department, and Congress would not allow an investigation.”


“Her story and others she was familiar with were rejected and avoided by the 9-11 Commission. She worked with angry 9-11 widows and with other whistleblowers to expose the failures of that commission. Disgusted with whistleblower support groups that only offered to help her when she was in the news and never when she needed help most desperately, Edmonds started her own group, made up of whistleblowers, called the National Security Whistleblowers Coalition. She started her own website called Boiling Frogs Post.”


“When an unclassified version of a report on Edmonds’ case by the Justice Department’s Inspector General was finally released, it vindicated her.”


“Edmonds has received awards and recognition. Her story has been supported (with rhetoric, not action) by Congress members and backed up by journalists. It appears in this forthcoming film.”


this book should be spread far and wide, and read aloud to our misrepresentatives in Congress if necessary. This book is a masterpiece that reveals both the details and the broader pattern of corruption and unaccountability in Washington, D.C. Edmonds has not exposed bad apples, but a rotten barrel of toxic waste that will sooner or later infect us all – not just the whistleblowers like Sibel and the thousands of people in our government who see something and dare not say something for fear that we will not have their back.”



CIA Catches Itself in New Underwear Bomb Plot


“the entire story has once again collapsed into a farce.”


Is there any shred of credibility left in the CIA ?





Rep. King suggests administration may have misled public on bomb plot, calls for review


“The chairman of the House Homeland Security Committee suggested Tuesday that the Obama administration may have misled the public in keeping the lid on the latest Al Qaeda-affiliate bomb plot, and called for a review into the way the government handles top-secret information.”


CIA Bomb Plot: Get Ready for New Intrusive Airport “Security”


“the supposed bomb used by Umar Farouk Abdulmutallab over Detroit would not have produced a blast large enough to penetrate the 5 mm thick aluminum alloy skin and the structural integrity of Northwest Airlines flight 253.”


“It was later discovered that the patsy Abdulmutallab was “deliberately and intentionally allowed to keep his US entry visa as the result of a national security override issued by an as yet unknown US intelligence or law-enforcement agency with the goal of blocking the State Department’s planned revocation of that visa,” Webster Tarpley wrote in December, 2010.”


“former Homeland Security boss Michael Chertoff, who served as a huckster for OSI systems, one of two companies licensed to sell full-body scanners to the TSA.”


It’s just good for business if you’re OSI systems.


The Yemen Underwear Bomb and Other Hobgoblins


The truth was finally revealed as the would-be bomber was, in fact, a double agent of the CIA.”



FBI framing members of Occupy? RTAmerica


“Terrorism can kill hundreds if not thousands if not tens of thousands of people” – yeah, prescription drugs is already killing 200,000+ a year in the USA.


“Accept it at face value; they’re accused of terrorism so they must be terrorist” – how the hell did we get into such circular thinking ?


War Criminal Madeleine Albright: A “Champion of Democracy”


“the deaths of half a million children as a result of the absolute, all-embracing deprivations of the UN embargo were: “A hard choice, but the price, we think the price is worth it.”


“Her comment also further endorsed the extent to which the United Nations had soiled its own founding affirmation to: “Save succeeding generations from the scourge of war ..” by declaring a new method of warfare, the withdrawal and denial of all life-sustaining necessities. Albright, at the time of her astonishing statement was US Ambassador the UN (1993-1997.).”



Big Pharma wants you hooked on these six pharmaceuticals for life Read More


Don’t you dare think about herbal remedies, vitamins or minerals or a better diet in place of the ‘solution’ offered by big pharma. There are fortunes being made at our expense.


Vaccine bombshell: Baby monkeys given standard doses of popular vaccines develop autism symptoms


“For their analysis, Laura Hewitson and her colleagues at UP conducted the type of proper safety research on typical childhood vaccination schedules that the U.S. Centers for Disease Control and Prevention (CDC) should have conducted — but never has — for such regimens”


Is JPM Staring At Another $3 Billion Loss?


JPM Crashing After It Convenes Emergency Call To Advise Of “Significant Mark-To-Market” Losses In Bruno Iksil/CIO Group


Surprise losses for Q2 ? No surprise to some people


The Securities and Exchange Commission has opened an investigation into JPM’s trading loss.


And Cue Pain – IG9 10Y 135/137.5…  +7bps


“Largest jump in IG9 10Y in over six months and widest spread in 4 months.”


“every basis point change in this position changes the value by 200mm. And currently, not in a good way for JPM.”


It looks like JPM are in the hole for $1.4b on the day and the day is just getting started.


Does Jamie Dimon Even Know What Heging Risk Is?


Deutsche Bank Takes A Jab At JPM’s “Fail Whale”


The “World’s Largest Prop Trading Desk” Just Went Bust


“a 100 bps move, JPM could suffer a $20 billion loss when all is said and done.”


Why What Jamie Dimon Doesn’t Know Is Plain Scary


Santelli On CDS Regulation And Why Bank Analysts Failed


One word – opaque – should tell everyone that they should be running the hell away from the scene.


Listen Carefully and You Can Hear the Crumbling Of The Sovereign Nation Formerly Known As JP Morgan


“The J.P.Morgan Guide To Credit Derivatives” By Blythe Masters


The bottom line for credit derivatives: the sellers of these contracts do not have sufficient funds to cover the notional value of all of the contracts they have sold should they be triggered or more importantly perhaps not even to cover a small percentage of the notional value.


The derivative implosion is just beginning.


JPMoRoNS – Save the Whale


J.P. Morgan Malinvests Free Federal Reserve Money: Market Crash, Bailout & Printing Incoming


Jamie’s Cryin: Dimon, J.P. Morgan Chase Lose $2 Billion


JPM KaBoom – US or Syria via Blue Coat – GLBT or B L T)-Transgender


“In October 2011 it was reported that the US government is looking into claims made by Telecomix that the Syrian government is using the company’s products (Blue Coat) to restrict internet access. I don’t need to look in Syria for that issue is closer to home at the local library.”


“Assets it was a counterparty to and a custodian of” – that’s just crazy.


“Some of their synthetic instruments appear to be blowing up.”


“This is why JP Morgan is fighting hand over fist for a measly 1.6 billion dollars because probably in the shadows it has multiple 10s of billions if not trillions of dollars on the cusp of blowing up.”


“I was getting a Blue Coat message which is sort of an add in that tells you parts or elements of this website is being blocked. My internet browser was having a hissy fit trying to access information today with everything in the library being blocked, inaccessible to me. What is accessible to you is nothing but rhetoric on the part of the politicians”


“Everything I tried to search in the library was Blue Coated, it was blocked from my view.”


“Those who need to be awakened are blue coated into non-existence, they don’t have the flow of information not that they have the critical thinking skills needed to decide which way is up.”


April 20th Interview About the End of JP Morgan
That concludes all of the talk about JP Morgan for now and there are the finally words on JP Morgan at the bottom of this email from Bix Weir who thinks that the largest of the “too big to fail” banks is likely, in due course, to FAIL.



Jim Grant: “The Federal Reserve Is The Vampire Squid Of Vampire Squids”


To Jim Grant The World Of Finance Is Nothing But The “Truman Show”


“Explaining to Maria B just why the world in which she lives, Bernanke-lovers-all, is nothing but a hall of mirrors – a fake mirage – of the true reality thanks to central bank repression of all that we know about risk and return. “By changing interest rates, central banks change the perception of every asset class – so what seems cheap may not be cheap” as Grant notes that when you can fund investment at 0%, we are collectively being manipulated and moreover should try to realize – as an investing public – that we are Jim Carrey in The Truman Show. Of course the 75% of professional investors who believe Bernanke is doing a great job would prefer to stay inside the fake reality where their bonuses get paid and leveraged tranche losses get soaked up by some account transfer from the fed or loan loss provisioning adjustment – for the rest of us – wake up and smell the unreality.”


GLD Custodian and Banking Giant HSBC is ‘a criminal enterprise’

[Ed. Note: This isn’t new news to SGTreport readers, this story was made public back in February, and HSBC is the world’s dirtiest bank after all, that’s just historical fact. But it is ironic to see JP Morgan & HSBC both imploding at the same time, no?]



The Health Benefits of Raw Food Enhanced Diet


“some of the starches being engineered into modern GMO wheat will, by design, make you obese.  The Diabetes industrial complex is a money making venture. Glucose meter test strips are a dollar per strip. And it starts with making you diabetic through high fructose corn syrup, too much standard sugar, and GMO wheat and potatoes.”


You are what you eat, if you eat s**t … I think you get the idea.


“Sunlight is good for the body, when not taken to extremes. Researchers have found that sunlight causes Vitamin D to form which modulates the immune system, which prevents things like the flu. That’s why its rare to get the flu in the summer – the germs are still out there – they don’t disappear when the seasons change. Our grandparents encouraged us kids to go outside and get fresh air and sunshine, they intuitively knew it was good for us.  Today we coat our kids in sunscreen and sunglasses, preventing vitamin D formation and blocking the natural horomones in the brain that result from sunlight striking the retina of the eye.”


“I have found that my energy goes way up when I stick to a diet high in raw vegetable content.  I’ve also found my skin to be healing and getting younger. Sun damage from my youth in the Arizona desert is going away!  Cell regeneration! I have never had skin cancer and I did everything wrong the experts say to avoid concerning the sun, including tanning!  Cancer results when the body cannot protect itself from oxidation and DNA damage which is usually caused by a weakened immune system.”


1 Comment (+add yours?)

  1. Trackback: Index for 2012 « paulthepaperbear

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