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Bin Bernanke

George Washington's picture




 

Image courtesy of William Banzai7.

 

While the Pentagon has tried to blame our economic problems on foreign terrorists, it is our own corrupt policies which caused them.

Nomi Prins - former managing director of Goldman Sachs and head of the
international analytics group at Bear Stearns in London - notes that we can't blame our bad economic policy on Osama:

What
transpired around the killing, or killing announcement, of Osama bin
Laden has been astounding. Whether you believe that bin Laden was
“taken out” by this NAVY Seal operation, after nearly a decade, two
wars, an over 81% increase in the military budget, and thousands of
deaths, following the tragic loss of life on 9/11, or whether you
believe he was dead and iced years ago and strategically used as a sign
of unflappable leadership, is irrelevant. The surrounding uproar was
theatre of the extravagant, no matter how you slice it.

 

But,
theatre was invented for distraction, in culture and in politics. So
while all the Osama drama was unfolding, the Treasury Department issued
another plea for raising the debt ceiling, aka supporting its pro-bank
policy. It went something like this: We need to borrow more to pay
social security obligations and not default on our debt, so other
countries won’t question our ability to manage an economy (as if that
hasn’t already happened) and we won’t have to pay more to borrow more.
If we don’t – you know what’ll happen – yep, another financial crisis.

 

***

 

Though
technically correct, omitting the fact that our leaders chose to float
the financial system on such an unprecedented scale with no obvious
Main Street benefits - hence the massive and quick debt increase -
continues to show an aversion to reality.

 

Flashback
five years. George W. Bush’s second Treasury Secretary, John Snow,
plead the same thing. (He wasn’t unique, of course, Congress has acted
at Treasury Secretary request to raise the debt ceiling 78 times since
1960, 49 times under Republican presidents, 29 times under Democrats.)
Snow threatened he was being forced to cut payments to civil servants,
among other things, but didn’t mention the real reason for the debt
hike requirement, like the Iraq war or the tax cuts that stifled
revenue collection. He had used similar arguments at the end of 2004,
at time when the debt ceiling was about half what it is today.

 

Raising
debt ceilings is a bi-partisan institution. The show is always the
same. The Treasury Secretary begs Congress. Congress debates than
agrees. No one questions the real reasons we pursued the excess
borrowing.

Since Snow made his plea,
a number of things happened; a continued war, an extra war, a collapse
of the financial system, a subsidization of the financial system, a
decline in employment, home prices, average wages for most of the
population, and an increase in foreclosures, executive bonuses, and
personal bankruptcies.

 

Hitting the
debt ceiling isn’t about spending gone haywire because the Social
Security and Medicaid buckets are too small for the people that rely on
these programs; it’s about the big-ticket items– like recently,
bailouts.

 

***

 

In April 2008, just
after federal subsidization of the sale (read: hostile takeover) of
Bear Stearns to JPM Chase, and before the rest of the big bailout
began, public debt was $5.22 trillion, intragovernmental was $4.08
trillion (56% and 44% of the total debt.) The debt cap then, was $9.815
trillion.

 

***

 

Public debt has nearly doubled since before the big bailout, while intragovernmental debt has increased just 15%.
Some (like Geithner, Bernanke, etc.) may argue that this balloon in
public debt was required to save our economy, though there’s little
evidence of it doing anything but cheaply floating our financial system,
not least because nearly half of the additional $4.4 trillion of public debt that was created it is stashed at the Fed as either excess reserves or QE2.

 

Now
that the Osama drama has died down a bit, and Congress returns to
economic discourse with Tim Geithner over not whether, but by how much,
the debt ceiling will be raised, the partisan bickering will resume
its thunderous levels of inanity.

 

No one on the Hill will question the true why
behind the debt – because it would lead back to that mammoth fuchsia
elephant - we, the elected and appointed, screwed the country to support
the power banks, and we’d do it again, in fact, we already are.

 

With
respect to bin Laden, conflicting stories will go on forever – when
did he die?, who’s body is in the ocean? why didn’t Obama release a
photo? But with respect to the economy, it’s super clear - our debt
ballooned and our economy deflated, to subsidize banks and their
practices, period. We can’t blame that on Osama bin Laden.

 

Of course, the trillions of dollars which Bernanke has given, loaned, guaranteed or otherwise printed up have gone to the big banks (including foreign banks such as the bank of Libya) instead of Main Street. Moreover, our national security apparatus has been hijacked to serve the needs of the biggest businesses, instead of America as a whole.

Additionally, as I noted last year, our economic leaders have themselves acted a little bit like terrorists:

Tyler Durden provides details of how the Fed blackmailed Congress into expanding the Fed's powers:

A
reader provides us with the following letter he received from Senator
Mikulski in response to dissatisfaction expressed about Bernanke's
reconfirmation. The response from the Senator demonstrates [that the Fed
is pressuring] gullible and incompetent senators ... to pass law after
law that is only in the Fed's, and thus Wall Street's interests, as
the alternative would always be a "market nose dive" ....

Thank
you for getting in touch with me about Ben Bernanke's nomination to
chair the Federal Reserve. It's great to hear from you.

***

I
was advised that rejecting his nomination would cause markets to nose
dive, which would hurt retirees and families saving for their future. I
am not enthusiastic in my support.
But I think Mr. Bernanke understands the job that he still has to do.

***

Sincerely,
Barbara A. Mikulski
United States Senator

And for the counterpoint, here is an example of a Senator who does not fall for the Fed's racket:

Dear Friend:

Thank
you for contacting me. I appreciate hearing your thoughts about
President Obama's decision to nominate Ben Bernanke for another
four-year term as Chairman of the Federal Reserve (the Fed). I voted
against approving Mr. Bernanke, who was nevertheless confirmed by the
Senate by a vote of 70-30.

***

 

While I have heard
the concerns of many that the failure to confirm Mr. Bernanke would have
damaged the financial markets and jeopardized our economy recovery, I
do not believe that anyone, including Mr. Bernanke, is too big to be
replaced. We should not hold
our economy hostage to the Wall Street threat that total economic
collapse is the sure result of not doing everything they want.

Thanks again for contacting me. Please do not hesitate to do so again about this or any other issue that may concern you.

Sincerely,

Tom Harkin
United States Senator

As I noted in 2009:

The New York Times wrote on July 16th:

In retrospect, Congress felt bullied by Mr. Paulson last year. Many of them fervently believed they should not
prop up the banks that had led us to this crisis — yet they were pushed
by Mr. Paulson and Mr. Bernanke into passing the $700 billion TARP,
which was then used to bail out those very banks.

In his latest trend forecast, Gerald Celente writes:

It
was the familiar fear tactic — one that had worked in the past and
would work again — an economic version of the Bush/Cheney argument for
the Iraq War. The people were told that Saddam Hussein had weapons of
mass destruction and ties to Al Qaeda. If he wasn’t stopped, the next
cloud would be a mushroom cloud.

The pretense was different but
the game was the same: instill fear in a panicked public and they will
follow their leader, regardless of how shallow the reasoning or how big
the lie.

Just as the nation was hurried to war before it could be
proven that Saddam Hussein had no weapons of mass destruction or Al
Qaeda ties, so too there was no time to debate what might happen if the
“too big to fail” failed...

While the national pastime of “follow
the leader” is always the path of least resistance, it comes at a high
cost … financial ruin and/or war and death. In either case, when
disaster strikes, the followers typically absolve themselves of any
direct moral responsibility for both the outcome and for the role they
played in allowing it to happen.

Celente is over-the-top, right? Tin foil hat time, right?

Well,
maybe. But Congressmen Brad Sherman and Paul Kanjorski and Senator
James Inhofe all say that the government warned of martial law if Tarp
wasn't passed:

Bait And Switch

Indeed, the Tarp Inspector General has said that Paulson misrepresented some fundamental aspects of Tarp.

And Paulson himself has said:

During the two weeks that Congress considered the [Tarp] legislation, market conditions worsened considerably. It
was clear to me by the time the bill was signed on October 3rd that we
needed to act quickly and forcefully, and that purchasing troubled
assets—our initial focus—would take time to implement and would not be
sufficient given the severity of the problem
. In
consultation with the Federal Reserve, I determined that the most
timely, effective step to improve credit market conditions was to
strengthen bank balance sheets quickly through direct purchases of
equity in banks.

So Paulson knew "by the time the bill was
signed" that it wouldn't be used for its advertised purpose - disposing
of toxic assets - and would instead be used to give money directly to
the big banks? But he didn't tell Congress before they voted to approve
the Tarp legislation? Does that mean that Paulson either actively misrepresented
the purpose of the legislation or else committed a lie by omission -
holding his tongue even though the fundamental idea behind his bill had
changed?

It was a bait-and-switch, whether or not it was an intentional one.

Indeed, the New York Times wrote in 2008:

"The
rescue is being sold as a must-have emergency measure by an
administration with a controversial record when it comes to asking
Congress for special authority in time of duress."

 

***

 

Mr.
Paulson has argued that the powers he seeks are necessary to chase away
the wolf howling at the door: a potentially swift shredding of the
American financial system. That would be catastrophic for everyone, he
argues, not only banks, but also ordinary Americans who depend on their
finances to buy homes and cars, and to pay for college.

 

Some are
suspicious of Mr. Paulson’s characterizations, finding in his warnings
and demands for extraordinary powers a parallel with the way the Bush
administration gained authority for the war in Iraq. Then, the White
House suggested that mushroom clouds could accompany Congress’s failure
to act. This time, it is financial Armageddon supposedly on the
doorstep.

 

“This is scare tactics to try to do something that’s in
the private but not the public interest,” said Allan Meltzer, a former
economic adviser to President Reagan, and an expert on monetary policy
at the Carnegie Mellon Tepper School of Business. “It’s terrible.”

Isn't that terrorism?

Celente writes today:

So
irrelevant had Bin Laden and his jihad rhetoric become that, in the
months preceding his assassination, every one of the uprisings occurring
throughout the Middle East and North Africa was secular and in direct
opposition to Bin Laden’s militant pan-Islamic vision.

In a sentence: There were no practical consequences whatsoever attending the death of Osama Bin Laden. It would do nothing to:

* Help America win losing wars in Afghanistan and Iraq.
* Lower the unemployment rate.
* Stop the US or European nations from sinking deeper into recessions and depression.
* Revive failing real estate markets or solve the debt and deficit crises.
* Lower oil and food prices.
* Reverse the damage or stop the radioactive fallout from Fukushima.

***

 

 

Meanwhile,
back in DC, the Chairman of the Fed, Public Enemy No.1, “Osama” Ben
Bernanke, will mastermind the destruction of the American dollar, the US
economy and the purchasing power of the American people.

Of course, Bernanke has previously admitted
that the Federal Reserve caused the Great Depression. And the Fed
helped caused the Great Recession as well, given that the Fed:

  • Acted as cheerleader in chief for unregulated use of derivatives at least as far back as 1999 (see this and this)
  • Allowed the giant banks to grow into mega-banks, even though most independent economists and financial experts say that the economy will not recover until the giant banks are broken up.
    For example, Citigroup's former chief executive says that when
    Citigroup was formed in 1998 out of the merger of banking and insurance
    giants, Greenspan told him, “I have nothing against size. It doesn’t bother me at all”
  • Preached that a new bubble be blown every time the last one bursts
  • Kept interest rates too low

And the question of whether people are going hungry because Bernanke's money-printing is causing food prices to rise is an important one.

 

 

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Sat, 07/16/2011 - 18:46 | 1462717 hama
hama's picture

The first thing in the morning ZH read makes me wonder? Is the confidence and faith in the Government and Media so destroyed that it can not be rebuilt? Not to say that I believe any one of the sons of bitches. Just sayin that some how some way, trust has to be re-invented.
florida home insurance

Fri, 07/15/2011 - 08:20 | 1458898 hama
hama's picture

The former execs that ruined the company for 50 years with meritless, non-achievement, nepotistic hiring practices, have been and now are living without having to work, being paid billions, the life of Riley.
cheapest car insurance

Fri, 05/06/2011 - 11:51 | 1247769 tamboo
tamboo's picture

2. Who and what is in a position to overthrow an invisible force? And this is precisely what our force is. GENTILE masonry blindly serves as a screen for us and our objects, but the plan of action of our force, even its very abiding-place, remains for the whole people an unknown mystery.

WE SHALL DESTROY GOD

3. But even freedom might be harmless and have its place in the State economy without injury to the well-being of the peoples if it rested upon the foundation of faith in God, upon the brotherhood of humanity, unconnected with the conception of equality, which is negatived by the very laws of creation, for they have established subordination. With such a faith as this a people might be governed by a wardship of parishes, and would walk contentedly and humbly under the guiding hand of its spiritual pastor submitting to the dispositions of God upon earth. This is the reason why IT IS INDISPENSABLE FOR US TO UNDERMINE ALL FAITH, TO TEAR OUT OF THE MIND OF THE "GOYIM" THE VERY PRINCIPLE OF GOD-HEAD AND THE SPIRIT, AND TO PUT IN ITS PLACE ARITHMETICAL CALCULATIONS AND MATERIAL NEEDS.

4. In order to give the GOYIM no time to think and take note, their minds must be diverted towards industry and trade. Thus, all the nations will be swallowed up in the pursuit of gain and in the race for it will not take note of their common foe. But again, in order that freedom may once for all disintegrate and ruin the communities of the GOYIM, we must put industry on a speculative basis: the result of this will be that what is withdrawn from the land by industry will slip through the hands and pass into speculation, that is, to our classes.

5. The intensified struggle for superiority and shocks delivered to economic life will create, nay, have already created, disenchanted, cold and heartless communities. Such communities will foster a strong aversion towards the higher political and towards religion. Their only guide is gain, that is Gold, which they will erect into a veritable cult, for the sake of those material delights which it can give. Then will the hour strike when, not for the sake of attaining the good, not even to win wealth, but solely out of hatred towards the privileged, the lower classes of the GOYIM will follow our lead against our rivals for power, the intellectuals of the GOYIM.

Return to Table of Contents/ . . . PROTOCOL No. 5

1. What form of administrative rule can be given to communities in which corruption has penetrated everywhere, communities where riches are attained only by the clever surprise tactics of semi-swindling tricks; where loseness reigns: where morality is maintained by penal measures and harsh laws but not by voluntarily accepted principles: where the feelings towards faith and country are obligated by cosmopolitan convictions? What form of rule is to be given to these communities if not that despotism which I shall describe to you later? We shall create an intensified centralization of government in order to grip in our hands all the forces of the community. We shall regulate mechanically all the actions of the political life of our subjects by new laws. These laws will withdraw one by one all the indulgences and liberties which have been permitted by the GOYIM, and our kingdom will be distinguished by a despotism of such magnificent proportions as to be at any moment and in every place in a position to wipe out any GOYIM who oppose us by deed or word.

http://www.biblebelievers.org.au/przion1.htm

 

Fri, 05/06/2011 - 10:34 | 1247426 Monday1929
Monday1929's picture

duped posting

Fri, 05/06/2011 - 10:19 | 1247379 Monday1929
Monday1929's picture

The Pentagon report (which I have not read) is important, and has not been given the proper attention. Lets assume it establishes that the damage done by the "Financial Crises" rises to the level of Terrorism. Then, it simply becomes a matter of discovering who was behind it. If it turns out that Domestic terrorists behind it, and that those Domestic terrorists were the Bankers, "Regulators" and Raters, then the Treason trials I called for years ago are entirely appropriate. And, if found guilty, Hank Paulson and his ilk should be hanged by the neck until dead. Or fined a couple hundred bucks.

Fri, 05/06/2011 - 10:15 | 1247365 Commander Cody
Commander Cody's picture

I am glad to hear that Nomi is off the kool-aid.

Fri, 05/06/2011 - 10:16 | 1247355 Commander Cody
Commander Cody's picture

I am glad to hear that Nomi is off the kool-aid.

Fri, 05/06/2011 - 10:12 | 1247341 cdskiller
cdskiller's picture

Brilliant. Irrefutable synthesis. Nicely done. Paulson should be in jail. So should Bernanke and Geithner.

I have been making this connection since Bear was bailed out behind closed doors using apocalyptic fear to justify the theft. At this point, whatever it takes for people to wake up is fine with me. They must be forced to face the consequences of their actions in choosing to bail out the banks. If they aren't, what we lose as a nation is permanent and deadly.

Fri, 05/06/2011 - 09:50 | 1247221 sbenard
sbenard's picture

How DARE you call him "Bin". His real name is BUBBLES! Bubbles Bernanke!

Fri, 05/06/2011 - 08:24 | 1246804 lesterbegood
lesterbegood's picture

Bin Bernanke is just another employee of the NWO. WE must expose and dismantle the NWO terrorists before they destroy us.

Fri, 05/06/2011 - 08:12 | 1246780 DavidC
DavidC's picture

I'm pleased that Nomi Prins stopped working for Goldman and has devoted her time and intelligence to writing and televising her points of view, she wrote a very good piece the other week on Benny's press conference.

http://www.nomiprins.com/thoughts/2011/4/27/bernanke-press-conference-is...

DavidC

Fri, 05/06/2011 - 07:24 | 1246696 Kina
Kina's picture

Indeed the greatest risks to American health, well being and quality of life comes not from external terrorists but almost entirely from corrupt banking terrorists who damage the life of hundreds of millions and not mere hudreds or thousands.

 

The banking cartel, Fed and regulatory bodies should be named as the enemies of the people. The real danager to America's future.

Fri, 05/06/2011 - 07:11 | 1246685 Escapeclaws
Escapeclaws's picture

You've got to be kidding, George. Those Congress critters didn't vote for Tarp or renappointingBernanke out of fear. That's just theatre for "our" consumption. Aren't you the one who posted the article about the Big Lie?

Fri, 05/06/2011 - 07:38 | 1246714 nmewn
nmewn's picture

That's correct.

The Fed, thus Bernanke, cannot "purchase" debt unless Congress first issues it by deficit spending. 

The Fed is doing exactly what they created it to do.

Fri, 05/06/2011 - 05:11 | 1246640 FederalReserveB...
Fri, 05/06/2011 - 04:56 | 1246629 Kina
Kina's picture

The US is of course absolutely and totally knackered when it comes to it being a country for the people.

 

Once the reigns of power fall into the hands of the enemy of the people it is game over. They own politicians on both sides of the political divide, presidents are their lap dogs. They can choose the judiciary, the regulators, law enforcement, laws in such a way as to perpetually increase their power and wealth.

 

Corporations/Banks are totally in control of everything that matters to them in the US, they have gone beyond the bindings of accountability and with the crisis of the past 3 years sought to increase and consolidate their power of the USA.

 

The only hope really for Americans is if the entire system collapses into chaos, where actions and reactions become unpredictable and more difficult to control. Where people get angry and look for the perpetrators.

 

Which raises the question. Just how long can the US gone on the current path of money printing? Will the economy ever start expanding, or expanding before it is too late.

 

What choices do they have? Keep printing, increasing debt and deficit and putting ever increasing downward pressure on the USD. And at what point does that hit a phase shift, where the USD goes from being a gradually weakening currency into an unwantable currency?

 

What happens if they take the austerity route? Dont they end where they would after a hyperinflation attack? Which raises the next question of what level of poverty, food stamp and unemployment and powerlessness is there a phas shift in the behavioiur of the US population - where they enamss become angry looking for 'their' change of the system and an attack on those of the status quo.

 

Doesnt look good for Americans, even if the economy doesn't collapse. Perpetually slavery to the oligarchy or chaos then rebuilding.

 

Fri, 05/06/2011 - 00:29 | 1246405 Gold 36000
Gold 36000's picture

You people are so boring.  I am going to find some tranny porn.  If it is good enough for the SEC it is good enough for me. LOL

Fri, 05/06/2011 - 00:32 | 1246408 Gold 36000
Gold 36000's picture

LOL.  made you look.  LOL!

Fri, 05/06/2011 - 00:28 | 1246403 Gold 36000
Gold 36000's picture

This makes me want to save up all my junkfood money and buy more gasoline.  I guess there are no FBI reading these blogs because no one has contacted me yet.  Come on FBI why do you not drop by and chat?  I have no loaded weapons in my house and would even make us some great coffee.  Hello  FBI anybody home?  LOL  I guess this blog site is not important enough to interest the FBI if pyro for president is not working. 

Fri, 05/06/2011 - 03:20 | 1246576 The Navigator
The Navigator's picture

Gold 36000

I have no doubt that the FBI and DHS are recording every comment blogged here and when the time comes we'll all hear the door bell ring. And that's why I cut myself off after 2 drinks from further commenting.

George:

Wonderful compilation/re-summerization of the criminals that stole trillions from the country. I hope we all remember and keep telling the story - and keep asking for the banksters to be brought before the Nuremberg trials v.2

Fri, 05/06/2011 - 00:27 | 1246391 TrillionairePeasant
TrillionairePeasant's picture

Kudos! Now the bondholders (and everyone not feeding at the trough of QE-infinity) will pay for all this silliness.

Fri, 05/06/2011 - 03:13 | 1246565 The Navigator
The Navigator's picture

Love your title, but with a little time you'll need to change it to QuadrillionairePeasant - I wonder if we can reserve these with Tyler, or will it be like taken Domain Names and have to bid on them.

Fri, 05/06/2011 - 00:21 | 1246384 PulauHantu29
PulauHantu29's picture

It's odd they claim to have captured the "terrorist of the century" OBL and no one questioned him before gunning him down?

Fri, 05/06/2011 - 03:10 | 1246563 The Navigator
The Navigator's picture

see Lee Harvey Oswald, patsy.

Thu, 05/05/2011 - 22:28 | 1246211 SwingForce
SwingForce's picture

Your best post EVER! Focus on how the bait & switch tactic amounts to TREASON against AMERICA. Geithner & Bernanke are perpetuating it, and Obama is enabling it. Great posts here on ZH the past few days all on this topic. Thanks everyone. Great work, GW.

Fri, 05/06/2011 - 09:51 | 1247225 tamboo
tamboo's picture

hmmm what might those 3 names (and the vast majority of the rest of our so called leaders) have in common? a certain "religious" affiliation perhaps?

what does this "religion" mandate with regard to members of other religious sects?

CHRISTIANS TO BE HARMED DIRECTLY

http://www.talmudunmasked.com/chapter15.htm

http://www.iamthewitness.com/

Thu, 05/05/2011 - 22:14 | 1246187 nmewn
nmewn's picture

Is the 870 billion shovel ready yet?

Fri, 05/06/2011 - 12:24 | 1247962 Cognitive Dissonance
Cognitive Dissonance's picture

It's a shovel ready project, but I need lots of funds to begin. Care to donate a few billion? That's just pocket change now-a-days.

Fri, 05/06/2011 - 15:39 | 1248912 nmewn
nmewn's picture

Well, that 870 billion dollar shovel to state governments (you never thought it was a jobs bill did you?) was preceded by a 400 billion dollarConitinuing Budget Resolution that Rahm said "we just need to do it and get it behind us"...and followed by a close to a trillion dollar ObamaCare cram down with its 500 billion dollars in new taxes.

But I mean yeah, you're right...pure socialized debt trip nirvana next stop...pay the ferry man (or not) when he punches your ticket ;-)

http://blog.heritage.org/wp-content/uploads/ObamacareTaxes1.gif

Thu, 05/05/2011 - 22:01 | 1246162 GoingLoonie
GoingLoonie's picture

Good grouping of info George.  Thanks for helping to keep our eyes on the ball.

Thu, 05/05/2011 - 20:30 | 1245921 tony bonn
tony bonn's picture

"Isn't that terrorism?"

damned right it is!

but as north american director for mossad operations rahm emmanuel noted, one musn't waste a good crisis....

i would have let the tbtf implode and collapse....kill off aig, kill off goldman sachs, kill off ms, jpm and the rest of the vampire squid nazi thugs who are terrorizing the nation....

and then kill off bin bernanke...

Thu, 05/05/2011 - 23:24 | 1246287 davebrik99
davebrik99's picture

"nazi thugs"  may be just the opposite of WHO is running things.......

Fri, 05/06/2011 - 09:24 | 1247087 Monday1929
Monday1929's picture

Small dick problems?

Thu, 05/05/2011 - 20:11 | 1245867 wisfool
wisfool's picture

Al 'Bid' Bernanke

Thu, 05/05/2011 - 19:10 | 1245624 apberusdisvet
apberusdisvet's picture

Why are we in Afghanistan?  I guess you don't remember the inadvertant pictures of our troops guarding the poppy fields?

Thu, 05/05/2011 - 19:17 | 1245643 DaveyJones
DaveyJones's picture

So true. Check out production numbers when the taliban were executing the drug lords and production numbers after we went in.

Just another way to support the banks.

You know things are bad when the overground economy is so screwed up by the underground economy that it needs the underground economy to keep it going

It's ironic that the very damage these criminals have caused is the leverage they use to make all of our public officials criminals as well.

We are all icelanders now .

We should start acting like them

Thu, 05/05/2011 - 21:40 | 1246118 Thorny Xi
Thorny Xi's picture

Barrel of oil - $100

Barrel of heroin - $21,000,000

Thu, 05/05/2011 - 19:10 | 1245623 DaveyJones
DaveyJones's picture

Terrorism: the use of violence and threats to intimidate or coerce, especially for political purposes. 2. the state of fear and submission produced by threat, initimidation, coercion and deception

Thu, 05/05/2011 - 18:47 | 1245530 michigan independant
michigan independant's picture

The response from the Senator demonstrates [that the Fed is pressuring] gullible and incompetent senators ...

Yea we got that part way before WW1 since that asshole in germany with the pointy thing on his helmit in 1861 figured out caeser had social security since it made better soldiers. Meanwhile, back in Washington built in a swamp, Hmm, we need to consolidate our position since our cousin's are prone to failure and we can be beacon of hope to the world. As we know conquered people should submit. That rogue colony is starting to think about self determination again. Oh please, we will have them doing what they do best. We have them fettered in avarice and they will come to accept it as the agricultural colony again.

 

Thu, 05/05/2011 - 18:21 | 1245433 RockyRacoon
RockyRacoon's picture

Thanks for your aggregation of information.  Very helpful.

Thu, 05/05/2011 - 17:56 | 1245361 geno-econ
geno-econ's picture

Iam thinking Osama's departure may now bring some logic and gov't policy rational into  sharper focus.  For instance , why are we still in Afghanistan spending Billions ?  Why are we going nuts over Homeland Security spending ? Why is BinBen bankrupting America on behalf of bankers with perpetual low interst rates ? How can we bring deficits under control before its too late ?  Why are multinationals  more global [outsource]than American [avoid US taxes and hiring US citizens ] ? Why are we permitting income disparity to keep widening without addressing problem now before Middle East syndrome spreads to our shores?  Perhaps these problems were around with other civilizations , but I thought reliance on market forces would resolve these questions in a modern global economy based on comparative advantage, free trade, technology etc.. If not, best face up before China comes up with a better model that will not have our interests in mind. Wake up America and our blind polititians---time is running out

Fri, 05/06/2011 - 08:00 | 1246750 knowless
knowless's picture

how does a nation retain sovereignty with completely free trade? eventually the burden of citizenzhip outweighs the benefits. also, the monetary system.. free trade+free money doesn't equal a free system.

Thu, 05/05/2011 - 17:36 | 1245296 Drag Racer
Drag Racer's picture

just took a glance at the DXY and noticed the dollar was up a dollar today... wait, wtf

Thu, 05/05/2011 - 17:33 | 1245274 breezer1
breezer1's picture

great post george. its good to have a reminder of who the real crooks are. i'm not sure what if anything can be done to avoid whats coming though. i believe we have passed the tipping point.

Fri, 05/06/2011 - 01:01 | 1246457 Whalley World
Whalley World's picture

What we must do is stay vigilant and remember the words of Frank Zappa

"I'm the best you can get, have you guessed me yet, I'm the Slime Oozing out of your T.V. Set"

Or, from Quincy Jones' Grammy Winner Back on the Block

"Because man messed up, the media dressed up lies perpetrated as truth and it left us confused"

 

Fri, 05/06/2011 - 09:38 | 1247158 tamboo
tamboo's picture

"The illusion of freedom will continue as long as it's profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way, and you will see the brick wall at the back of the theatre."
~ Frank Zappa, 1977

 

 

Fri, 05/06/2011 - 01:03 | 1246456 Whalley World
Whalley World's picture

What we must do is stay vigilant and remember the words of Frank Zappa

"I'm the best you can get, have you guessed me yet, I'm the Slime Oozing out of your T.V. Set"

Or, from Quincy Jones' Grammy Winner Back on the Block

"Because man messed up, the median dressed up lies perpetrated as truth and it left us confused"

 

Thu, 05/05/2011 - 17:10 | 1245196 dalkrin
dalkrin's picture

It will take more than a covert op with Navy SEALs to bring that maladroit to justice, in fact he is guarded by the very people he is preying on!  Burial at sea would be too good for this guy, I say turn him into paper pulp and make some limited edition fiat notes.

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