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"Run!"
From Mark Grant, author of Out Of The Box
Who is Minding the Store?
Recently I sat and mused with the Chairman of the Board of one of the major international banks. One of the subjects under discussion was the oversight of risk by the Board. This included investment risk, counterparty risk and the general exposure of the bank to what various parts of management were engaged in with their businesses. He assured me that they had multiple reports that were filtered up to the Board and I asked the question about who was designing the reports and were they accurate not in terms of information but in terms of their structure. Banks, insurance companies and other managers of money typically have respected members of the business community on their Board but often lack investment professionals to help provide some guidance and oversight for their dealer operations and for their trust operations so that the oversight by the Board is, frankly, insufficient. The complexities of any large dealer operation, in particular, are far past what the CEO of some main street corporation on the Board has any real knowledge of and the consequences of not having the appropriate people providing guidance can be catastrophic.
This schematic was clearly demonstrated recently at J.P. Morgan. The Directors of the Risk Committee had virtually no Wall Street experience and, consequently, had no real knowledge of the exposure of the bank except the data that they were given but then I doubt if they knew how to make any real sense of the numbers in front of them and certainly they did not have enough experience to judge if those figures were all that they needed to make informed decisions. Now JPM is facing investigations by half a dozen Federal Agencies including the Department of Justice and this was caused, in my opinion, by not having the appropriate people in oversight positions on the Board. Smart people always learn from their mistakes but really smart people learn from the mistakes of others. Therefore I suggest to those of you in senior positions to stop and evaluate who is on your Board, who is on the Risk Committee and who is minding the store because it is the Board, in the final analysis, that is ultimately responsible for the business of your institution and while you may have great faith in your management it is the Board, not those in executive positions, that are held accountable for the risks your firm has undertaken.
When the Defendants are also the Judge and Jury
“All within the state, nothing outside the state, nothing against the state. “
-Benito Mussolini
Here is a prescription for disaster. Here is an opiate that, once seen, should be avoided at any and all costs because the hand is a losing one far past any combination of cards on the Blackjack table. Yet, this is exactly what Europe is proscribing for owners of unsecured bank debt on the Continent. The importance of Friday’s announcement was not that unsecured bank debt owners were to take losses if some bank foundered but just who would be deciding what losses were to be taken. Yes, it is true, investors for the last three years had been assured and re-assured that the sovereign nation where the bank was domiciled would be back-stopping any bank bonds or that the European Union itself would ring fence all bond holders so that the announcement was in direct contention to what we had all been told to get us to support European bank debt. Europe had claimed responsibility and now they have withdrawn it and this reason alone is enough to push yields for European bank bonds far wider than where they are currently as the charade of one more contingent liability has been officially ended. I assert, just for this reversal in position, that the yields of all unsecured bank bonds on the Continent will gap out from their current levels as what we were told is not what we are to get any longer. The new EU bank plan normalizes the losses to put them on the same plain with the American banks but the second part of the story is where disaster lies and I mean unmitigated disaster.
In America we have a formalized process for insolvency, bankruptcy that is overseen by the Rule of Law and the decisions are made by our courts. We have a functioning judicial system and all manner of statutes and regulations so that claims on assets are a matter of well-established Laws that govern this process. This also used to be the way of it in Europe but now we are being told that the legal system on the Continent is going to be irrelevant which will include, by the way, all of the nations in Europe including Great Britain. What the European Union has tossed on our plate is some sort of gruel that no one should eat for it is full of deadly poison; of that I have absolutely no doubt. The new EU bank plan states clearly and without remorse that the decisions for any bank insolvency will be made by Regulators. This would be people appointed by European politicians, this would be bureaucrats, this would be employees of the State as Europe returns to the governance of the old Soviet Union where the Rule of Law was subordinated to the designs of the nation. Let me make this clearer; unsecured bank debt owners will have no rights, no due process and no appeal. The State will decide who is to get what, how much they will get and your rights as a bond holder will be about equivalent to Russia under Stalin where the legal system operated under the thumb of the man in charge. Further the regulators can, once again, exempt the EU, the ECB, the EIB, the IMF or whomever they like from any call on assets so that the bond owner can be subordinated to whomever the Regulators so desire. Then if they will impose this system of State dominance on unsecured bond holders today who is to say that they will not impose it on other classes of assets tomorrow. When the Rule of Law is replaced by the Rule of the State then I will proclaim, unconditionally and without qualification, that the system has been rigged for the benefit of the nations and to the detriment of any private citizens. Therefore there is only one rational conclusion that can be reached which is that no one should own any European unsecured bank debt, NONE, of any bank on the Continent as the Regulators in Europe can now decide the fate of the bondholders for any political reason that they deem relevant and expedient.
If you cannot read the writing on the wall then allow me to read it for you. The European Union has abrogated the Rule of Law for the good of the State. This is the second such abrogation with the first being the exemption of certain European institutions and the IMF from the Private Sector Involvement of Greece. Greece may be a one-off exemption as they claim but we now have a second instance where jurisprudence has been overturned for the good of the nations of Europe. This is not Socialism or Capitalism but rather some sort of Fascist governance which I publically decry as the echo of the jackboots sounds across the Continent once again. The precedents have now been set and the future is clearly marked by a return to the totalitarianism of a politically controlled State. My advice is therefore succinct:
RUN!
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Fuck You Bernanke!
You can run, but you cannot hide from the Eye Of Sauron. Better to stay and fight and get others to fight with you.
This is what elitists do, uphold laws for their benefit, and get a free pass on laws that would restrain them. This is what fascism looks like.
Laws are made to protect the elites from those they plunder.
Help Help, i cannot run because i ate 6 hamburgers
You can run, but you just die sweatin'...
GM
Then we'll tie you down, sew your asshole shut, and just keep feedin' ya...like a pate Goose ya plump little dumpling.
"In America we have a formalized process for insolvency, bankruptcy that is overseen by the Rule of Law and the decisions are made by our courts. We have a functioning judicial system and all manner of statutes and regulations so that claims on assets are a matter of well-established Laws that govern this process."
Laws exist only to crush the little people. Corrected that error for ya.
Yes, my GM remark above.
GM is probably not an exception, but an outlier.
Sure, ask the MF customers how that bankruptcy thing worked out. Hint, futures and securities are different.
"Laws are made to protect the elites from those they plunder."
There is an important distinction between Law and legislation. Statists have managed to convince the masses that both are the same, but they are not. Law is a bottom-to-top process. Legislation is a top-to-bottom process. What you talk about is legislation.
That'd be legislation backed by the law, right?
Of course.
That is why law was invented----force is still the last law-----and force is the military state.
I have this empty feeling that when it comes down to the real deal----that the US is going to say:
"Either do it our way or we are going to nuke the planet!"
I truly hope that I am completely incorrect om
There is no place in fascism for one world order which is obviously what they are working towards.
Why is this so incredibly complicated? No nationalism=no fascism.
The 'nationalism' here is the elitists trying to push for a federal europe... and the locals trying to push for more national sovereignty.
Both are pushing nationalism; the former have just expanded the authoritarian polity from one State to many.
It is obvious all of the central banks are in bed with another and working on a one world order financial system-as are many of the politicians.
makes the idea of nationalism preposterously farcical.
They are textbook leftwing authoritarians and should be labelled as such.
I have reason to think you are mistaken, but only because you conceive of fascism as being specifically nationalistic rather than statist. Please see my comment to your other post below as to why.
No, he is exquisitely, empirically right: the only Greek political element NOT bankster-controlled...is the so-called "fascists", the HardRight. This is also the case in America. It's globalist-socialist/plutocrats vs. nationalist/populist fascists. And we (that is to say, I) am going to win.
hence the need for INDIVIDUAL LIBERTY. Each person is soverign unto themselves, and only grants to government that limited power as agreed upon in the constitution.
Nationalism is what comes after the plundering of facism resulting in social unrest. Even now, with the co-opting of the OWS and Tea Party, we have an 'EX-PATRIOT' (Nationalist) law in the works to further create class warfare. Instead of worrying about Eduardo Saverin, US citizens should be worried about the NDAA and the EX-PATRIOT acts.
Who is the SOLE candidate who consistently speaks about INDIVIDUAL liberty and INDIVIDUAL rights (not 'national', 'group' or 'collective' rights)?...
Yes, Yes, and we have 36 states who have agreed to deny rights by consitutional amendment with little knowledge of the effects and affects of such action to destroy individual liberty. And the show begins, when you chip away at human rights with laws born from hate, you usher in Facism. But we hide behind a bible that few have really read and fewer even understand, and then claim that God wants this? Man wants this, not God. And these same corrupted men will take from you all your rights...one by one, and you won't do a thing because it has not entered your home...yet. And then, there won't be anyone left to help you protect your God given rights.
I used to be well-versed in status-quo politics, and what you say seems to resonate with the mists of my memory. It's as if I could understand what you're saying.
As I said, I could nearly understand, but now it all sounds the same to me. All I heard is that it's statist authoritarian vs statist authoritarian, cuz that's how Hegel rolls.
You have made the mistake of thinking that fascism is a political and not economic system. Fascism is nominal ownership of the means of production by the citizens (aka corporations) but control [effective ownership] of the means of production is exercised by the state through regulations and the legal code. I think you were thinking of national socialism (aka nationalistic fascism) that the german practiced when you first stated your post.
For my own observations nbased on the actions of the states actions so far I would amend your statement
There is no place for anything but fascism in the one world order which is obviously what they are working towards.
I am just going to keep posting this everytime instead.
Fascism ( /?fæ??z?m/) is a radical authoritarian nationalist political ideology.[1][2]
There is nothing fascist in the slighest about what is going on.
They don't give a shit about their own states, they care about erecting the new massive one world order governance.
Au contraire. Your definition is very good, except that part about nationalist.
Indeed, fascism is not nationalist per say. This might be only a mistaken inferrence that comes from the context in which fascism mostly manifested itself so far.
However, fascism is rather absolutely statist, whatever the level of governance that it applies at. You could have a fascist municipal government if that government did not recognize any external (regional, national, etc) or internal (individual) authority - that is, if it defined itself as the ultimate authority within the confines of its zone of influence.
In the same way, you can find fascism just as well at the national, supranational, continental or global level. Actually, from the last time I read Mussolini's The Doctrine of Fascism, I don't remember reading the word "nation" once. He specifically focuses on the state, which is not pre-supposed, as you do, to be at the national level. The quote in the article pretty much summarizes his view in a single sentence: “All within the state, nothing outside the state, nothing against the state. “
Indeed, in his view, the individual only justifies his existence as it pertains to the state, as do religion, finance, corporations and culture. Indeed, fascism is understood to be the state as culture and religion.
[Edit: this last affirmation might be a bit blurry. What I tried to say is that Mussolini viewed fascism as the ideology incarnated in a fascist state, defining itself as the sole and ultimate end, value and authority.]
In a fascist one-world order, you will understand that one-world governement, one-world 'bank', one-world corporation, one-world religion and one-world military are not even integrated, but rather synonymous. This is very exactly what is going on - a consolidation race towards absolute statism.
Jonah,is that you?
All anyone has to do is look at what fasces are (http://en.wikipedia.org/wiki/Fasces): a representation of unity and regimentation enforced through the power of the state. In the view of the fascists, you are not allowed to be left alone, to be a free individual, to be free of state encumberances. The state is your mommy, your daddy, and your parole officer.
and not that it matters an iota, but with the governments being the largest consumers, employers, lenders, borrowers, landlords, tenants and the single largest profiteer of every economic transaction on the planet,
along with endless armies of regulators and endless regulations-
it is fairly obvious who controls the means of production and what is the largest benefactor.
They are left wing authoritarians, I don't care what bullshit moving target label want to attach,
that is what they happen to be.
and fwiw Machiavelli was a fascist hundreds of years before Bennie and Dolph,
the nationalistic component was not added recently.
Let's ID some nationalist and facist nations. There are 4 possibilities.
facist and nationalist; Nazi Germany e.g.
facist not nationalist; USSR
nationalist not facist; modern Japan, many others where immigration has not blurred natural boundries.
not nationalist not facist; Antarctica? Or, what's the point of a government (for facisim) or a nation (for nationalism). Perhaps that is the point of the NWO, but it is a contradiction, It is natural that people need to be led and they are a tribal animal.
Your, um, avatar, um...
You can run, but you cannot hide from the Eye Of Sauron. Better to stay and fight and get others to fight with you.
You might want to run if you find yourself in Mordor, surrounded by orcs.
The problem is - I'm not sure there's a Minas Tirith to run to anymore. The orcs (Statists) appear to have sprung up everywhere.
The rangers are everywhere. They remain quiet and hidden for now.
It's time to stand your ground. Not blindly or recklessly, not stiff as an oak, as you will break in the tempest. Rather, like the easterners so often say, be as a bamboo, flexible and swaying in the wind, yet rooted in place.
It's time to be steadfast. We're getting close to the first peak of the rollercoaster. Things are likely to get scary if one is not expecting them.
Bernanke is but a tool of the State which is itself become a tool of its Financial Enablers.
The Abrogation of the Rule of Law has not been motivated, supported, implemented and left unchallenged through the application of unlimited resources and economic/social/political force by the Central Banks, but by it's Political Rulers.
It is the Political Rulers who at the margin profit from the current condition of the Central Banks, not the Central Banks themselves.
To wit: In the US, the Abrogation of the Rule of Law, with respect to the Senor Secured Debt Holders of GM and Chrysler when such companies were "Bailed Out" by the government, arbitrarily (for purposes of political expediency) reallocating common share ownership to an unsecured party, the unions, at the expense of those with legal claim to such collateral/property.
QED.
Europe: As pointed out above, promises broken, contractual rights left unremedied, debt holders penalized for the purposes of political expediency. The votes and political support of a voting block, the unions
I suggest that these actions directly flowing from political motivations are those that are creating a World Wide Crisis of Confidence.
A Credibility Trap.
A Crisis of Confidence where at the margin, funds are flowing to the safest medium available regardless of return, real or nominal.
The Overwhelming Investment Motivation has and remains the Return Of one's money as opposed to the Return On one's money.
That dear reader, is the reason that the economic phenomenon of the Liquidity Trap exists. The Liquidity Trap is a mere manifestation of the problem, that being the Credibility Trap, not the cause.
Hence, the performance over the last several years of precious metals which many regard as the ultimate safe currency.
Which also within financial asset space explains the low relative nominal and real level of government debt in countries such as the US and Germany (Yes grasshoppers, those very countries abrogating the rule of law which is not the least of a paradox as many might suggest, for they are the most powerful countries which, at the margin can do so with the least penalty.)
And of course, cash...again within financial asset space.
There will be no return of any reasonable level of economic activity until the Crisis of Confidence, the very system has been Reformed.
QED
EXACTLY !
The same as in the United States of America, or the United States of Mexico (Estados Unidos Mexicanos).
Lack of confidence leads to lower growth and higher risk premiums. It is why some poverty stricken nations remain in poverty. They are governed by thieves and the people would laugh if they tried to float a bond in private markets
And as the fools run to Treasuries, the last joker in the deck, and our all-knowing political/banking parasites squander scarce investment capital, we become Europe.
Our fearless leaders need to take their shoes and socks off to count past 10.
Run ? Hell no. Walk away from the Mugs Game.
"In America we have a formalized process for insolvency, bankruptcy that is overseen by the Rule of Law and the decisions are made by our courts. We have a functioning judicial system and all manner of statutes and regulations so that claims on assets are a matter of well-established Laws that govern this process."
LOL!!
Tell that to the General Motors Bond Holders.
Run, Forrest... RUN!
This is Europe so it would be "Run Lola Run"
"RUN AWAY!!"
http://www.youtube.com/watch?v=92gP2J0CUjc
Run where? The choices get smaller and smaller by the day.
I do believe there is still time to simply walk away.
The time to run is a'comin too though.
Lex Romana, Pax Romana. Jokes, both and still in action.
There are two (maybe three) sets of laws, everywhere. That is why the system is not fair.
It's all about the treaties, specific language, specific gestures, specific times.
The rest, most of what we see, is just theater or material to waste ink and paper.
ori
I wonder if there have been any updates?
http://www.infowars.com/21-states-claiming-sovereignty/
Did these States know back then and prepared?
ON, I'm a total fence sitter when it comes to inf-W news. Are they really? Can they? Given the control grid, the 10 FEMA districts, the perpetual war emergency since 1933, absolute power to POTUS...
I don't think so...
ori
hard to tell from out levels of organization
theoretically, no problemo, imo, ori
step-function organization (normal hierachy) 6:1; 5 levels, say; highly trained core cadre; control loops; polygraphs
new tools for the oldSchools is all
no, not everything; intel will be used at the lowest level, also, as screen; + ample sampling + new (inter-agency) intel + ? + ?
we seem to be at the point where human nature becomes inhuman (our inhumanity to ourselves dept) at new levels; same shit, different day, really
it's kinda fun to be hot tho, doncha think?
nature is very prolific and seemingly wasteful, but don't get eaten, old sport!
ORI
It is all about intent and the relative power of the parties to the agreement. The specifics are only something to chatter about when the rug is pulled.
Precisely Kayman. And the trouble with that legalease (talk about a misnomer) is that it is anything but ease. The true meaning of words is shrouded in the mists of etymology.
Plus who has the time anyways?
ori
Iceland
Fuck running; time to stand and fight!
Fly Robin, fly!
"Theresa May: we'll stop migrants if euro collapses"
http://www.telegraph.co.uk/news/uknews/immigration/9291493/Theresa-May-w...
Theresa May: A kinder, gentler version of Enoch Powell.
Don't forget Lola
What EU announcement on unsecured debt is he referring to?
It's a draft of the EU banking reform package that's supposed to be implemented in the first weeks of June.
http://www.ft.com/intl/cms/s/0/3aaea904-a680-11e1-968b-00144feabdc0.html#axzz1vzB9aFty
Thank you.
I appreciate that.
the draft plan will be presented in June, not implemented. run?
You can bet your farm the EU will approve ANY plan that increases their powers. In this case, the implementation will be immediate, i.e. before the 17th of June and the Greek elections. As the contagion from the Grexit spreads, the EC will get to "test" the new legislature and in that case I wouldn't want to hold unsecured bonds in my portfolio. Would you?
having said that the ESM fire wall rules imposed by ECB/ German economic council for all national members participating in it is pretty brutal and totalitarian; it does not require parliamentary approval. We discussed this months back on ZH forum and its now under the EU carpet somewhere. So the arbitrary power of the EU commission is awesome under German dictat. Having said that the banksta cabalista is even more awesome, so its a matter of two bad choices in a dire situation of financial meltdown. We need more parliamentary control of financial transfers to the EU and it has to be transparent and debated. The current hybrid is unsustainable to run EU.
'So the arbitrary power of the EU commission is awesome under German dictat.'
this is a good analysis, imo, f_p
but wouldn't germany really be better off just BEing germany and france, france?
they could have real money, too, right?
that is where "we" MAY still be able to function, poilitically, rather than in a false duality in which the citizen is powerless but, if polite and properly deferential (harmeless), allowed to function freely and service his/her/our/your/my/their fiancial debt-needs
theory is theory; praxis is praxis; a fight is a fight; war is not an invitation to a tea party!
neither is being victimized by presdatory fascist asswipes of debt = fiat money!
but wouldn't germany really be better off just BEing germany and france, france?
_______________________________________
No. The past is catching up.
that's nice!
no logic, but nice!
your personal past? now that would make sense!
AA, the future is also catching up...NWO isn't achieved yet.
Westphalien nation states and dreams of unified empire. I do believe that the success of the US empire, post-1945, fueled the desire to ape the USA, a continental country, as dreamt by Victo Hugo in the 19 th century and as planned by Jean Monet, and executed by Adenaur, Schuman, Gaspieri and Spaak in 1950. The Europeans, after two Armageddons were only too acutely aware of their own collective disaster and its root reasons : national pride and century old hatred.
Founding fathers of the European Union - Wikipedia, the free encyclopedia
Under Mitterrand-Kohl in went to Maastricht and Euro union but not political and fiscal union. Half way measure that got caught in 2008 US financial spiral and collapse. Now they can't tell head from tail, these sons of lazy Eurozone construct...live n learn. Merkel is a leader who had no idea what the global experiment of NWO entailed for Europe.
You forgot Retinger and Black budget financing through the early stages. I'm fairly sure there were others in there more recently with same, at least Sark is out.
yes; this was not meant to be pol and fiscal started w/ the 2000 calendars, and so on; the euro was in place by 9.11.01
no, merkel had no idea
nobody did
NA, SA, japan, russia, china, africa, antarctica, santa,...
well, maybe a few...: "Alan Greenspan (born March 6, 1926) is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works .." (wiki)
Hank Paulson - CORRUPTION: You Report Corruption - Share your ... and so on... what is angela's legacy gonna be? banksta BiCh? this is germany! she's the fuking man!none, just the general assumption on new rulings on subordination of debt (likely)
he mixes this with the general meme of an "european" bank run (highly unlikely) because many Greeks (and some Spaniards) are quitely stuffing their drawers with cash instead of keeping on checking accounts (something not unusual in the southern european countries), which could lead to a few small bank runs in some select regions (possible but not very likely)
as psy-ops or just propaganda, it's good. A dish.
RUN is a simple, primitive message. Like a rack of roasted lamb.
The "foreign devils have no rule of law (as we understand it)" is a tested and powerful tool of propaganda in countries with the english Common Law principles are standard for making some by jingo! noises against napoleonic systems. Steam-boiled veggies.
Some "unelected" noises that garnish the rage against the FED, some judges etc. in the US and are re-usable against the EU set-up. The Spices.
I would not have read it if it was clear that it's a guest post.
plans for a future legislation that allows regulators:
1- assume emergency powers (a kind of receivership) of collapsing banks
2- fire the management
3- restructure the balance sheet
4- write down unsecured creditors
5- have more leeway in sparing derivatives counterparts if in danger
btw the projected legislation would specifically protect short term debt and guaranteed deposits
the governments would have to:
- establish interconnected resolution funds that would include the existing deposit guarantee schemes
Where exactly does one run to?
Oeno Island or Tristan da Cunha...
...or Iceland.
You run to the U.S....a bastion of freedom, liberty, and the rule of law. You just have to get past the TSA, DHS, CIA, FBI, IRS, DOD, NSA...then you'll be free!!!
Or you could try Tuvalu. I doubt there are many jackboots there. If you like being on an island. I had a job offer to go there, but it seemed a bit...isolated. Google map it!
Colombia
Center right
Limited government
Capital starved but high growth potential
Fifty thousand to build or buy a business makes you a gran caballo
Both are better than Raratonga.
Especially in wet season
I hope you meant "caballero." Everyone wants to be the rider, no one wants to be the horse. Kind of a metaphor for what we're talking about in Europe.
Highly watched by the US for potential to become uncontrollable.
Relatively high crime, requiring more gated communities than US/EU.
Easily toppled over by the US - politically as well as militarily - if desired.
Being on the wrong side of the Monroe Doctrine is not a good idea in a crisis.
Burma.
Indeed, this article is absurd to criticise Europe, while spouting lies praising alleged American 'justice'.
In Continental Europe we have almost no one in prison (only about 1 per 1000), very little harassment by law or lawyers. Yes rules are bent here by EU eurocrats, but for the most part, people here are not jailed, terrorised by courts or police, or getting their assets stolen and seized.
The US has a gulag of 2.3 million prisoners - about 1 out of 140 - hundreds of thousands of them innocent, or there for trivial and trumped up reasons.
The US has massive prison slave labour, massive asset confiscations by bribed judges and corrupt lawyers, no prosecutions at all for crimes like MF Global fraud stealing billions from people ...
And yet this Mark Grant guy above spouts these propagand lies for America ... talking about US courts like he is an idiot believing the Hollywood movie version, and totally ignoring things like multi-year 'contempt of court' jailings without charges, of people like Martin Armstrong ... this guy Mark Grant does not even know what European businessmen know about US courts, so he spouts lies as if he is a dumb schoolboy - Mark Grant claims:
« In America we have a formalized process for insolvency, bankruptcy that is overseen by the Rule of Law and the decisions are made by our courts. We have a functioning judicial system and all manner of statutes and regulations so that claims on assets are a matter of well-established Laws that govern this process.»
This is total bullsh*t, as smarter European businessmen know.
What about MF Global 'bankruptcy justice', huh, Mr Grant?
Maybe Mark Grant is ignorant because the CIA's Google Inc. blocks websites on US judicial corruption ... like the journalism of our political refugee from the US in Brussels, one of the world's important experts on that corruption before Google 'erased' him ... he barely got out of America alive. - I know him personally, and use his avatar by way of honouring him. The house of the King of the Belgians helped stop the US from assassinating him here.
Here is a live photo of Google Inc. censoring the internet about the corruption of US judges and courts:
Live Photo: Google Inc. Caught Censoring EU Search Results on US court corruption (for USA - CIA)
Google Internet Censorship - Censure d'Internet par Google - Internet censuur door Google
http://www.flickr.com/photos/22325431@N05/6100668211/in/photostream
Articles on US court corruption blocked by the CIA's Google Inc., while the author is slandered with hoaxes planted on the CIA's Wikipedia, and the author is blocked by Google Inc. from replying ...:
Foreign Companies Face Risk of US Court Corruption:
Doing Business in the Big Bribery Nation
http://www.banned-in-america.net/us-court-big-bribery-nation.html
America's Corrupt Legal System -
A Danger to Visitors, Travellers as Well as USA Residents
http://www.banned-in-america.net/us-corrupt-legal-system.html
Americans Murdering Their Judges, and the US Crisis of Judicial Corruption
http://www.banned-in-america.net/americans-murdering-judges.html
Nice post and it can't be repeated enough.
This is the reason you spook the herd with cries of run: it makes it much easier to separate your prey. Herds that stay together to provide a united defense are much harder to attack.
By forcing the Elites to bring the fight to us, they are stripped of their camoflage. Their actions stand out for what they are- fascism, goose-stepping, eugenics and authoritative rule- just the kind of message to bring people together. If the only people capable of leadership run, there is no hope left.
People will need those willing to be a strong voice for liberty. Run? That is for cowards.
Fascism ( /?fæ??z?m/) is a radical authoritarian nationalist political ideology.[1][2]
Can you see the word nationalist? People who are obviously working towards one world order are NOT nationalist. JFC
Fascism is not defined by a dictionary. You need to look at all its' aspects. However, it has been well explained by another poster above (as Statism). You may also consider John Flynn's, "As We Go Marching".
The nation they want to rule is the world. It is a work in progress one township at a time!!!!!!!!!!
If you take 'nationalism' out and put in'state(s)' you have fixed it.
Meanwhile, the sheep dogs lay low until the tyrants fascists uh, bankers attack.
HAHAHAHAAHAHA
The good thing is that high taxation does not 100% directly correlate to lesser personal liberty-somehow some way. Not sure, since me the moron see's them as 100% correlated but anyway.
the entire continent has been imprisoned for the sake of epic fail liberal social science experiments.'
and here you are talking about US corruption, let me help-
there is another 100% correlation, the more governance the more corruption and oh it ain't close.
Xktwistedly stooooopid.
You smell like an apologist for fascsim. OOOH were not interested in world domination. Honest were not. Just trust us!!!!
Left wing or Right doesn't matter all totalitarians deserve one response.
I's cut him if he stands and I'd shoot him if he'd run;
And I'd kill him with my Bible and my razor and my gun.
- an apologist for fascsim.
He hates the Mooslims.
I think he's supposed to be the regular guy who gets you fire up to hate Mooslims too.
I mean whatever but he is right. Communists, Socialists, global revolution marxists yes,
fascists non. The fascists had crisp uniforms and precision marching. And cheering crowds.
(MF) Global revolution marxists have rabbinical beards, androgenous cabinet members, and sullen, starving masses. They never, ever tour in open coaches. Ever
Soon, the Gay president will have the luxury of firing hellfire missiles from drones against his domestic opposition.
I bet they set up a gaming console right on his desk next to Muscle Boy magazine.
What's gay gotta do with the militarization of the homeland?
Hopefully you're using it more like targeted sarcasm on how the Red team (republicans) pretends to fight the Blue team (democrats) while both teams rape & pillage in plain sight.
Being gay and allowed to marry is the last thing anyone should be concerned about right now (even gays).
Just be sure you're not signing a contract with a homeowners association. You'll never be free.
Svenborgia.
Bhutan, where they measure GDH (Gross Domestic Happiness) not GDP
Barbourous lumps of shiny metal
The new EU bank plan states clearly and without remorse that the decisions for any bank insolvency will be made by Regulators.
When you see this word, you know you had better pack it in, and fast.
Where exactly does one run to?
Hard assets,( Gold n Slvr dude) and move your ass if possible.
Don't kid yourself about US BK law ... the BK courts are inferior tribunals, and trustees have limited powers that generally apply to protect the estate and not investors. Hell, even with prima facie fraud in the MFG case, they still haven't worked out a way to claw back the cash sent to JPM. If someone got around to filing fraud charges and kicked it "up" to criminal courts, then you might see some action ... fat chance of that!
All the "really smart people" in the banking sector are more weighted in US government securities, right? That's about as safe as non bailed out MBS circa 2005. People are going to look back and realize that the only risk averse action a bank could do is liquidate assets soon, return all depositors money & figure out something more productive for enployees to do. If not, they'll be trying to surf in a hurricane.
And, yes, there's very little free or just about the US legal system. It works just like our political system, better service to the highest bidder of political capital.
Run into the forest with no trees or out?
Run to the middle, then every way is out.
If a forest has no trees ... never mind.
Hell, you may as well duck and cover as best you can where you are. Just lie flat on the ground and wait for the inevitable.
I think this is a little extreme. Yes you can interpret things the way you do, but my sense is all the Europeans are trying to accomplish is protection of ordinary people from the occassional breakdown of the market due to crony capitalism, liquidity traps and complex adaptive system black swans. They also want to balance the current huge advantage of capital over labor in the current economy and who pays for its breakdown. In reality, by and large, the European States respect the market and the rule of law but they recongize that sometimes these have to be superceded in the interest of survival. This happens all the time with national security situations such as the war on terror, WW 2 abrogation of civil rights and the famous example of Abraham Lincoln suspending habeas corpus and a numbe of other rule of law provisions during the civil war. I expect the Euroepans to continue our collective journey towards a true "free market"-based civilization (as a opposed to a crony capitalist or rmercantilist one) based on equality of opportunity at the starting gate (which we have never seen and depends on the defeat of excessive nepotism and inheritance), once this emergency is over.
You are funny.
You mean the journey where ECB/IMF and EU remained whole on their Greek debt, everyone else (except for english law bonds) got written down 70%, and the bailout was used as a pass through to french and german banks.
Is that the "free market" based civilization you are referring to?
Cause that doesn't seem like a whole lot of "protection" for the average citizen.
As near as i can tell, the rule of law is respected right up until the point a large banks life is threatened. Then it is abrogated, as a necessity to avoid "systemic risk". Never mind that the existence of such a bank is in and of itself the defination of systemic risk.
The thing about the "rule of life" is as soon as it can be tossed at the discreation of the political system, it no longer underpins the foundation of that political system.
This is where ZH commenters largely get it all wrong.
The money still owed by Greece is to the Troika. The private bond holders have already been screwed.
A "default" now hits the Troika, and Greece imports about 100% of their oil requirements. The EU would have no particular difficulty blockading tankers and requiring a surcharge per barrel to pay that debt.
Default is not possible on sovereign debt. There is no bankruptcy court to expunge it. Iceland was bank debt, not sovereign debt, and Argentina is still trying to work out repayment plans because they are cut off from credit markets.
Never ever lose sight of the fact that oil is everything. Financial bullshit is just handwaving silliness.
Can Greece man the German subs they supposedly bought? If so, those diesel / hybrid subs are a bitch to hunt and that blockade just became WW3, ask the Israeli's they can tell you about Dolphin's.
http://www.globalsecurity.org/wmd/world/israel/sub.htm
hey, crash!
and you know this b/c...?
Greece has strategic geography.
Greece will get oil. Cuba got oil back in the old USSR days.
Who could direct oil Greece's way for non-financial reasons.
Russia
Iran
China
Guys, I was away and didn't come back to this thread. Y'all got way too literal.
Greece can have oil. If they pay the surcharge. As for Russia or Iran sending them oil, how would they pay if the banking system insists on the surcharge? That's how Iran is sanctioned. The banking system obstructs payment.
The European Union controls the Mediterreanean?
A Naval Blockade would be an act of war. Would seem like a pretty extreme response to a default.
did you happen to notice what NATO pulled inLibya last year?
"once this emergency is over."
And that is the foundation of deficiency of all plans being pursued.
Oil scarcity is forever. There is no solution. All the financial gobbledygook is an attempt to keep the engine turning with a hand crank as its fuel hose gets squeezed.
And no, there is no alternative energy source and there isn't going to be one. Nothing has oil's energy density and the odds of a miracle discovery (being searched for now for 50 years) are close to 0.
Correct. The light at the end of the tunnel has been switched off to save energy.
And I fart in the general direction of your detractors.
mega fartatus romanos?
Here it is in latin :
Nam, displosa sonat quantum vesica, pepedi diffissa nate ficus. . .
and here is a the list of fruitiest latin quotes of that spicy genre (that is if you like spice in your life).
10 Dirtiest Quotes from Latin Verse
I lke this one that goes with the image in sculptured marble :
Your arse is purer than a salt-cellar; you probably only take a dump ten times a year.
Priceless sense of proportion.
Necessity
The plea of tyrants
I guess you think it is also ok for the government to lie to the peoPle they are trying to protect, if it is for the good of the whole
Completely dispicable if you ask me
"In reality, by and large, the European States respect the market and the rule of law but they recongize that sometimes these have to be superceded in the interest of survival."
BS: EU banks are guilty of fraud. Like the US bankers, EU bankers are not being prosecuted for fraud. They are above the law.
"Euroepans to continue our collective journey towards a true "free market"-based civilization (as a opposed to a crony capitalist or rmercantilist one)"
More BS. Crony Capitism is all that is left in the EU. Regulators and bankers are of the same breed. The policies put in place are to protect the rich and punish the working class for the bankers mis-deeds. You think they are rioting in Europe for celebration of workers rights?
"the Europeans are trying to accomplish is protection of ordinary people from the occassional breakdown of the market due to crony capitalism"
if that was true, the EU bankers that caused this mess would have been brought to justice and been imprisoned. Instead they live in better luxury than ever before the crisis.
"the EU bankers that caused this mess would have been brought to justice and been imprisoned"
well, some of them just bought, held or sold Greek, Spanish and other bonds at market prices and marking them as the rating agencies stated. Guilty of what?
others went as hard as possible to the limit of the allowed leverage. Guilty of what?
this mess has many fathers
some of them did bundle bad debt with good one in the US and sold them as AAA in europe. Guilty who and of what?
You don't hail from Tuvalu do you Ghenny?
Where to run? It appears to be happening everywhere, NDAA for all!
Yeah for a minute there i was packing my bags for America then realised i had to get past the heavies at US airports and once landed the US President could shoot me without trial, has torn up the constitution, will shortly thieve all pension funds and with US Citizenship plagues me with 10 years of tax theft even after leaving the US
what to do, what to do??!!
Lol
At least here in america you can buy kevlar helmets and body armor and a nice main battle rifle and shoot back
The second amendment is the final defense against tyranny albeit a weak one
Law enforcement in the US has not been militarized in order to herd soft American students and free spirited thinkers who converge in city streets with peace signs.
The riot police are in place waiting for people like you, who keep saying this. "Shoot Back." They're ready for it. And my guess is the militarized police may win. A win which will leave tens of thousands dead or in prison hospitals. But that is if the US gun toters actually get out of their house and do what they've been saying. Which I doubt as by now, it's like introducing a vaccine after everyone is already stricken with the contagion.
Admit it. You'll pro NRA men are afraid.
I admit it Bunny I'm scared! I am shaking like a leaf!! Hold me to your bosom and comfort my trembling soul!!!
Bunny,
Like Patton said, there's nothing wrong with being scared shitless, but you do your job in spite of your fear. Everybody dies sometime; it's just a matter of knowing that at some point, death is now!
Statists like to use your own fears against you, always have, always will.
What's this bullshit?
We do have those things we just don't follow them all the time. Remember the GM bond holders. Big (TBTFs) seem like good credit bets until they get close to the edge and all the rules are scrapped.
Yes, absolute friggin' stupid lies ... MF Global 'bankruptcy court justice' ... Billions stolen ... and nothing ... Ha!
Longer critique of this nonsense above.
This Mark Grant is either a hired liar, or a really unaware idiot who thinks American courts are what American TV shows say they are.
I hate to agree with the america haters on this one but facts are stubborn things
Joe, please. Enough with the rhetoric already. Where are/ who are these "American Haters"?
They aren't the same people about whom Dubya said, "They hate us for our freedoms." are they?
I think on the whole, people around the world are pretty mellow about Americans, considering how our system of wealth extraction works. The only places where people get seriously pissed-off at Americans are those places getting the sharp end of the stick. Places like MENA, Af/Pak and some areas of Latin America.
Even places that were pissed-off, quickly want to be friends when it's all over. Look at Viet Nam.
Did they or did they NOT create a two tiered system of justice when they prefered the ECB et all and screwed the private bond holders.......
Talk all you want but this is money and we see you guys lie to each other all day long and thinking the longer you talk the more likely you are to find a bagholder for your debt which you will then try to screw us out of once again! This is money, no loans to European liars.
What's this bullshit?
Pleasant thoughts of many years ago............you know, when you could sleep at night.
If you think we have rule of law here, you are blind. Look how GM and CHrysler bondholders were raped by the kangaroo bankruptcy court to appease crony unions. There is nowhere to run. We are all fucked until we get rid of all the corrupt politicians. Tar. Feathers. Guillotines!
"There is nowhere to run. We are all fucked until we get rid of all the corrupt politicians. Tar. Feathers. Guillotines!"
We are all fucked regardless of politicians.
They can't legislate oil. Oil is getting scarce and that is choking off the fuel supply to the world's engine.
Tar is made of oil, btw.
Nah, there's plenty of oil, but TPTB have conspired to make you believe there is a shortage so they can have their way with you in just about every other way.
Well, if you're a conspiracy theory type, the consipracy is to persuade all that there is plenty.
Listen to the reports of oil price.
When the price goes up, it's because of extraordinarily strong economic activity increasing demand, especially from China", and sometimes it's "from fear of Iranian actions" and occasionally it's speculators. Never, ever is it said that oil extraction rate from Alaska is falling relentlessly, nor is the same said of the North Sea. But it's true in both cases.
When the price goes down, however, it's not from reduced Iran tensions or weakened Chinese growth . . . it's because of a "flood of oil in the latest inventory report".
Make no mistake about this . . . consultants get paid to tell people what they want to hear. An oil consultant goes into oil companies and tells them their future is bright, and presto, he gets a return contract for next year. Then after a decade of this, he's suddenly an expert and he may even believe his own schtick by then -- after all, that BMW he's driving is proof that what he's saying must be true.
No consultant who goes into an oil company and tells them their future is dim is going to be brought back in the next year. He damn sure won't be hired to fill an executive slot. That's just the way business works.
Then when it's time for gov't to find an expert to advise them, who do you think gets called?
All nice and good if you are dealing with rational beings, but if you are a govt type trying to justify a couple dozen deployments in various hot spots that have oil ... just sayin!
Crash, I agree with you about the oil, but quibble with "We are all fucked".
I know it is difficult because of all the conditioning we have endured, but I have come to appreciate the Jeffersonian ideal of the yoeman farmer. Read Thoreau.
Abandon Consumer Culture and grow stuff. Use your mind to do it well, ideally with community.
Thoreau didn't live on a planet with 7 billion people.
There's a reason farms became 10s of thousands of acres. Surf around youtube to have a look at what chicken production looks like in three story buildings. That's done because there is demand for that much.
You can't tell 8 million people in NYC to abandon consumer culture and grow shit. Their shit is shipped in every single day, by truck.
Oh, so you know how to surf around youtube? Well, when you're finished with your survey of chicken production, I recommend looking up alternative energy production on the same website... you may start by typing "perendev" and if by some chance magnetic fields don't feel compelling enough, proceed freely with typing in "overunity motor".
That way you might lose your hard-on for oil, you dumb prick!
If you believe there's no shortage show me where we can go get that oil without spendin 3 barrels in construction & extraction for every barrel that will ever get pumped from said location.
Now, please.
Now Please, and IMHO.
If you believe there's no shortage show me where we can go get that oil without spendin 3 barrels in construction & extraction for every barrel that will ever get pumped from said location.
For ONE,if there is a shortage, in the U.S., WHY are WE exporting refined gasoline (28% of out put to other countries?)And why are we/have we closed refineries?.
( lack of demand is why,due to lack of need and use.)
For TWO, The locations are now off limits, and under Fed control.
True we will expend CRUDE to get to it,( nothings free) but that's a ONE time deal after the wells are drilled.(Using the exported from here, would take care of the useage to get OUR own new supplies to surface,and online, and into refineries,or reserves).
What do you think the cost is to refine & export Gasoline?, USE it here to produce from known reserves, and exploration of NEW offshore reservoirs).
We have to start looking at our supplies, that are OFF limits because of the tree hugging morons, who will SOON wish they had not caused what is coming when its TOO late.
You do not plant crops when the people are starving, you plant to keep them from it......same with Oil.
I am for little to NO Fed regs on much of anything,but to cripple our nation for crude, and shipping out nearly 30% of our current production(instead of storing it, and I mean all of it) is INSANITY,and should be stopped immediately.
Not ONE drum should be allowed to be sent/sold offshore.
WHY do you think our prices have been so High?, when there has been an OVER supply of crude?.
China is socking it in, why are we so STUPID, not to keep an Extreme over supply here stored for rainy days you & I know will come at the current rate of drilling, and storage ?.
We are shooting ourselves in the brain, damn I cannot believe we are THIS stupid.
Ok, it's about choices then. As anybody oustside of Europe, where are you going to put your money? In US Treasuries or take your chances with a continent that ANY 8TH GRADER can clearly see has no hope of solvency? If you're inside of Europe where are you going to put your money? Well.....they're clearly voting with their FEET right now otherwise you wouldn't be seeing the Wall Street Journal openly talking about bank runs.
Run to DC/WS, land of the free home of the brave? or to Putin Moscow? Or to Virtuous Riyadh? Or to Oligopoly, rolly-polly, one party crony Peking? Any Peking duck and stuffed spring rolls on the menu?
Its time to nationalise the banks as they are all frauds...so don't go holier than thou about BANKS!
Methinks he doth protest waaaaaay too much. The rule of law is the rule of the state, who do you think writes them? A bond is a contract like any other and subordinate to statutes that get written and statutory rights absolutely can and do change, tough but no special exemptions for bond holders.
Are you then saying that fucking the GM bond holders wasn't a political move?
"so that the announcement was in direct contention to what we had all been told to get us to support European bank debt"
AKA Bait and switch , the lawyers are going to have fun with this.
"I have more sympathy for poor African children than Greeks suffering under the country's economic problems and austerity measures"
I M F chief Christine Lagarde
http://economictimes.indiatimes.com/
Wow
I kinda like Lagarde now
A breath of fresh air