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What Mitt Romney Also Said: A Glimpse Of The Endgame?

Tyler Durden's picture


By now everyone has heard the infamous Mitt Romney speech discussing the "47%" if primarily in the context of how this impacts his political chances, and how it is possible that a president "of the people" can really be a president "of the 53%." Alas, there has been very little discussion of the actual underlying facts behind this statement, which ironically underestimates the sad reality of America's transition to a welfare state. Recall Art Cashin's math from a month ago that when one adds the 107 million Americans already receiving some form of means-tested government welfare, to the 46 million seniors collecting Medicare and 22 million government employees at the federal, state and local level, and "suddenly, over 165 million people, a clear majority of the 308 million Americans counted by the U.S. Census Bureau in 2010, are at least partially dependents of the state."

Yes, Romney demonstrated potentially terminal lack of tact and contextual comprehension with his statement, and most certainly did alienate a substantial chunk of voters (most of whom would not have voted for him in the first place) but the math is there. The same math that inevitably fails when one attempts to reconcile how the $100+ trillion in underfunded US welfare liabilities will someday be funded. Yet the above is for political pundits to debate, if not resolve. Because there is no resolution. What we did want to bring attention to, is something else that Mitt Romney said, which has received no prominence in the mainstream media from either side. The import of the Romney statement is critical as it reveals just what the endgame may well looks like.

In response to an audience question:

Romney: [The] former head of Goldman Sachs, John Whitehead, was also the former head of the New York Federal Reserve. And I met with him, and he said as soon as the Fed stops buying all the debt that we're issuing—which they've been doing, the Fed's buying like three-quarters of the debt that America issues. He said, once that's over, he said we're going to have a failed Treasury auction, interest rates are going to have to go up. We're living in this borrowed fantasy world, where the government keeps on borrowing money. You know, we borrow this extra trillion a year, we wonder who's loaning us the trillion? The Chinese aren't loaning us anymore. The Russians aren't loaning it to us anymore. So who's giving us the trillion? And the answer is we're just making it up. The Federal Reserve is just taking it and saying, "Here, we're giving it." It's just made up money, and this does not augur well for our economic future. You know, some of these things are complex enough it's not easy for people to understand, but your point of saying, bankruptcy usually concentrates the mind.

Source: Mother Jones

And that is how the Fed effectively took over control of the United States, as without it, it is game over. This is also why the ongoing presidential election is a farce, and has absolutely no bearing or significance for the future of the US, whose true ruler does not reside at 1600 Pennsylvania Avenue, but instead holds America hostage in a powerful Stockholm Syndrome grip from the deep recesses of the Marriner Eccles building located, paradoxically, on Constitution Avenue.

Don't worry though: like any "true democracy", the real "leader" of the nation will never be eligible for popular vote. Ever.




P.S. It appears that Paul Krugman has promptly taken offense to the realization that Bernanke is "monetizing 75% of all debt." He has even promptly penned an article "Misinformed Monetary Mitt" proving the Noble prize-winning economist really has little understanding of the dynamics of debt monetization.

Here is the reality: under ZIRP, all bonds with a maturity inside the guaranteed 0% envelope are essentially cash equivalents. This means all bonds 3 years and less, which as is to be expected for riskless paper, have a coupon of roughly 0% (except Fed counterparty risk of course, because the only reason they should trade above 0% is if the Fed loses control of inflation and ends ZIRP prematurely before its announced end date now sometime in 2015). When the Treasury issues them the buyers takes on ZERO risk, thanks to ZIRP. This is also the reason why the Fed sells $45 billion in short-end paper each month, as part of Twist sterilization. In essence the only debt issuance that matters for the US Treasury is that of longer-dated issuance. This amounts to roughly $45 billion per month in the 10-30 year window, and is virtually all the debt that the Fed monetizes on the long-end as part of Twist. This is also knows as Flow as we have explained repeatedly, but we don't except someone still stuck teaching 1980s economics to understand this (Goldman explained this here)

But this is not news: back in February we noted that Under Twist the fed has monetized 91% of all LT gross issuance.

Between Twist 1 and 2, the Treasury has not auctioned off one dollar of gross LT debt to the private market, as evidenced by the total inventory of 10-30 year paper which has remained fixed at $650 billion. It is this liquidity limitation that forced Bernanke to monetize not more TSYs, but to commence buying Mortgage Backed debt.

The fact that Krugman does not get this simplest fact about the nuances in the Fed's monetization activities demonstrates just how dangerous it is to assume that just because someone has been awarded a Nobel, they automatically are an expert in something, anything, especially involving numbers.

And because we enjoy spreading knowledge, and for the benefit of even the most math-challenged Economics professors, here again is a simple clip showing how Romney is actually lowballing the real number of relevant gross issuance, which is nearly all in the critical 10-30 year ballpark, and where the Fed will soon be virtually the sole marginal market player.


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Wed, 09/19/2012 - 17:17 | 2812907 Upswaller
Upswaller's picture

We're Fooked!

Wed, 09/19/2012 - 17:22 | 2812923 Daily Bail
Daily Bail's picture

This is pretty funny for anyone who hasn't seen it.

Hypocrite DEMs run for the hills as soon as they hear the question.

Gawker Asks The DNC: "Can Americans Trust Mitt Romney To Make The Right Call On Which U.S. Citizens To Assassinate?"

Wed, 09/19/2012 - 17:24 | 2812932 buchesky
buchesky's picture

Now that's great journalism!

Wed, 09/19/2012 - 17:36 | 2812984 Vagabond
Vagabond's picture

So apparently Mittens understands our economic situation.  Does he think we can survive higher interest rates?  Pretty doubtful.  So what's his plan?  Get into more military conflicts, spend more money, and be the guy in charge when everything goes wrong?

Wed, 09/19/2012 - 17:42 | 2813002 iDealMeat
iDealMeat's picture

I'm getting the sense that Bibi the War Pig is gonna let the missiles fly sooner then later..


Wed, 09/19/2012 - 18:01 | 2813063's picture

War pig? Is that kosher?

Wed, 09/19/2012 - 18:10 | 2813090 New_Meat
New_Meat's picture

neither kosher nor tasteful. ;-)

Wed, 09/19/2012 - 18:18 | 2813121 Paul Bogdanich
Paul Bogdanich's picture

Speaking of war pigs and borrowed money, there is no way to sove the deficit problem by railing agaist poor Americans when the "defense" budget is running $1.4 trillion dollars a year (include defense proper, VA, DOE nuclear weapons and SSA Survivors benefits as well as SDA disability to war veterans).  So Romney's problem, just like Obama is that they either don't understand or don't care about the underlying problem and the suggestion to cut the poor people off and continue on with the Imperial Spending is less than intelligent.  It ain't gonna work.  All it will do is cause massive social unrest.   

Wed, 09/19/2012 - 18:34 | 2813169 Surly Bear
Surly Bear's picture

'War pig? Is that kosher?'

You, Sir, are a genius. Much love to you.


EDIT: drunken spelling

Wed, 09/19/2012 - 18:39 | 2813185's picture


Wed, 09/19/2012 - 23:08 | 2813786 markmotive
markmotive's picture

Pure comedy: What Exactly is Quantitative Easing?

Thu, 09/20/2012 - 01:43 | 2813998 Punct
Punct's picture

Don't worry, we've seen their whole channel. 

Wed, 09/19/2012 - 20:34 | 2813449 New_Meat
New_Meat's picture

ya, and can't even respond to the comment, but otoh ...

Wed, 09/19/2012 - 19:02 | 2813242 SeattleBruce
SeattleBruce's picture

So you could cut the defense spending to zero, and it would then cover the $1.2+ Trillion (on the books) annual budget deficits we're racking up, but certainly not the unfunded liabilities of SS, Medicare, Medicaid, et al.  Oh no, forget about $16 or $17 Trillion - try $100 Trillion plus.

Now what Paul?

Look I'm all for ending these crazy never ending wars, but the solution clearly involves more than just slashing the defense budget to smitherines.  It will involve every department of the goobermint and all of the financial system starting with dismantling the FED, and putting in its place a system of sound non-debt based money. 

At least that's how I want the reset to go.

Wed, 09/19/2012 - 19:39 | 2813331 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

It is bad enough to disrespect those with lesser means who are trapped on gov't largess Mitt. Are you going to talk about all of those banksters and other hard hit billionaires who were bailed out by Congress and the Fed? They are most likely going to vote for your sorry ass. Eh, Mormon roach?

Wed, 09/19/2012 - 19:46 | 2813351 Paul Bogdanich
Paul Bogdanich's picture

My point was that neither of these guys want to reset or solve anything.  All they are afraid of, and rightfully so, is massive social unrest either here or in Europe.  They are so scared that they are pushing through the NDAA with it's obscene provisions so when we have a war with Iran or the economy collapses or something else happens thay can resort to totalitarian tactics to "keep the peace."  Nobody is having a rational discusiion about anything becase any rational discussion would ential broaching the subject of contracting or ending the empire and that is something that none of them are even willing to suggest let alone entertain.  Ron Paul at least aired the opinion and was barred from the convention (even though he had elected delegets) as his reward.  But if one was rational one would recognize that the medical oligopoly would need to be ended, medical spending would need to be brought down and held below 10% of GDP, social security benefits wouuld have to be means tested and scaled and the empire would have to be cut back at least 50%.  So not willing to entertain even the discussion of any of those inevitable results they are going to bring us to a rather dramatic end.  It is quite rediculous but it happens all the time.  I'm sure the French under Louie the 15th ad 16th were having the same discussions but then as now the rulling classes are so insulated they refeuse to entertain the idea that there may even be a problem with their steadfast leadership.  I would also point out that this is the fear of social unrest.  They know, and rightfully so, that the French, Russian, Spanish, Italian and German political upheavals all ended in disaster, war and millions of dead.  The only modern empire that ended gracefully was the Soviet Union in 1990 through 1996 and I don't see any more Gorbachev's or Putin's on the horizon.          

Wed, 09/19/2012 - 20:44 | 2813473 New_Meat
New_Meat's picture

please check out  silent Calvin Coolidge,

Not sayin' that the Mittztaz are there, but clearly from some non-encumbered people, there is a chance, real movement.

- Ned

Wed, 09/19/2012 - 23:28 | 2813819 Bill Shockley
Bill Shockley's picture


You have also written...

"Do you remember when the Soviet Union collapsed 20 odd years ago? Remember how fast and without warning it was? Today we realize that the cause was not that Russia was unviable or that their system didn't work but rather the real cause was that the could no longer afford to maintain the Empire they collected at the end of the Second World War. It just got too expensive.
At their core they still had the population, resources and the will to be a viable nation and they are. Increasing standards of living today in fact. Historically it is now clear that the costs of maintaining East Germany, Ukraine, Belaruse, Latvia, Estonia, Poland, Checkoslovakia and so forth got to be too much for them so they had to let them go.
How do you rate the probability that we are in the same shape today with our two foreign wars, 800 military bases, trillion dollar a year defense budget which doesn't really "defend" against anything (which is why we had to create Homeland Security), our fixation with Iran and their desire to expand their influence in the Middle East and so on.
If our Imperial costs somehow vanished and we renogiated the debt repayments sans interest we would find that we had plenty of population, resources, money and so on and wouldn't have to engage in quantitative easing to fund the federal budget.
But anyway please remember the speed at which these things happen. The wall was still standing it was just that literally, one day, there was no money to pay the guards. If history repeats our outposts will still be there but they will have to be abandoned and the teritory ceded. If it happens it will be very quick. As a realist I see no reason why we sould be any different. This of course runs against the belief in American Exceptionalism but that belief is what got us to this point. So let's see.

Paul Bogdanich"


Very beautiful stuff and so true. It is not socialism or capitalism per se that is the problem although capitalism is a step toward a socialized world.

It comes down to the cost of things.

No society can support a war machine forever.




Thu, 09/20/2012 - 14:04 | 2815627 Paul Bogdanich
Paul Bogdanich's picture

Well I suppose my opinions are pretty clear then.  Hope I don't get rounded up and shipped off because of them but my opinions generally represent my best judgement at the time. 

Wed, 09/19/2012 - 21:30 | 2813555 rbg81
rbg81's picture

Solve it?  Fix it?  You must be joking.

The reason the Fed is doing what its doing is because there ARE NO VIABLE SOLUTIONS.  When I say this, I mean no solutions that wouldn't cause unthinkable social upheaval.  Basically, we have promised ourselves into a corner where interest rates can NEVER be allowed to go up.  Ever.  If short term UST rates went up, even by 1%, the cost of servicing the debt would render Government instantly bankrupt.  And then someone would have to explain to everyone from the Seniors to the Gangbangers as to why they can't keep their cell phones and eat pork steak. 

Yes, there is not enough $$ in the world to keep the farce going so we make it up out of thin air--because we have no alternative.  Globally, its the same deal.  Everyone is playing to continue the farce because no one can fathom the consequences of pointing out the Emperor has no clothes.  The US is the biggest, baddest MF on the planet.  If we go under, its the start of chaos and ultimately the dawn of a new Dark Age.  So everyone will continue to take our worthless $$ and pretend 'cause they are scared shitless.

Are we clear?

Wed, 09/19/2012 - 21:48 | 2813611 Eally Ucked
Eally Ucked's picture

We have to understand that any meanigful reform of the system would mean immediate cut to GDP by 50%! And that's what is needed for America to start to grow again!

Wed, 09/19/2012 - 22:51 | 2813747 rbg81
rbg81's picture

If you cut GDP by 50%, there would be rioting in the streets.  Cities would burn.  And there were be no cops there to stop them 'cause they would be laid off too.  Eventually, the truly useless would die off and then you could start over.  The sad thing is that this would have been easy to head off two generations ago if our Elders had the guts to tell people NO!  They didn't.  As a result, the inevitable reckoning will be very bloody indeed.  Because while the Fed might succeed for a while, the game can't go on forever.  But the longer it goes on, the worse the hangover will be.

Wed, 09/19/2012 - 21:52 | 2813616 Go Tribe
Go Tribe's picture

Why can't we just sell off assets by exchanging the Fed's bonds for physical stuff - national forests, gold in Ft. Knox, public highways, etc.? There are far more assets than liabilities, so let's liquidate them. Yep Fed winds up owning a lot of the U.S., but at least it puts us back into a physical dollar backing.

Wed, 09/19/2012 - 23:00 | 2813774 BoNeSxxx
BoNeSxxx's picture

For one, the Fed is a PRIVATELY owned entity.

Two, they didn't exchange anything for the $ they issued in the first place... it's all fiat paper.  To trade that paper debt for real sovereign assets is about as disgusting a proposal as I have heard.

Three, and most importantly, they already own you.

Thu, 09/20/2012 - 04:37 | 2814125 Urban Redneck
Urban Redneck's picture

That was the Weimar solution.

Thu, 09/20/2012 - 12:12 | 2815205 boiltherich
boiltherich's picture

Not exactly right.  It is true that they replaced the worthless hyperinflated Papiermark with the Rentenmark which was backed in THEORY with all the real estate and productive capacity of Germany at the time, but that alone was not enough, it was the backing promised by governor of the Bank of England, Montagu Norman, and the British government and that assurance was enough to end the hyperinflation of the previous currency, but the backing did not include actual confiscation of public or private hard assets, only the "full faith and credit" of the confiscation authority of the government, very much like the full faith and credit of the taxing authority of the US government today, and after all what is taxation but a form of confiscation anyway?  Oh, and by the way, part of the reason for the downgrades of US credit ratings is that the raters no longer have the FULL FAITH in US ability to tax, because the ability to raise revenues is the ability AND willingness to raise taxes when the outgo so exceeds income, something it has demonstrated it either cannot do economically or politically and no matter what the reason is it is not being done. 

Also, remember that major parts of Germany were occupied post WWI and Berlin operated under stiff conditions imposed by the Treaty of Versailles.  France wanted and was actively seeking to dismember Germany and render her unable to make war again.  You know how unintended consequences work though right?  French and Belgian punishments only made Nazis and Hitler, as well as the the second world war inevitable. 

The thing to ask is how can financial folly today contribute to or make such events inevitable again? 

Wed, 09/19/2012 - 23:20 | 2813805 Moon Pie
Moon Pie's picture

Most cogent comment I've read in awhile.  Nice work rgb.  Your are dead right...the whole carosel keeps on spinning.  Had been for years, but is speeding up now. 

I think the seminal event will be centered on "foodstuffs".  Wait til Yemen, Egypt or Libya don't get grain or other shipments...then what happened last week will look like a hang nail....and its going to happen.  They'll blame the Israelis, the "west", etc., but the real culprits will be the central banks.

Coming soon....

Love the pork steak ref.  Bueno.

Thu, 09/20/2012 - 08:21 | 2814351 rbg81
rbg81's picture

Very interesting article.  I bookmarked it.  One problem with the the FED's plan though, is property taxes.  I've been looking at increasing my real estate holdings too as prices do seem to be ticking up lately.  However, the annual cost of property taxes, even on modestly priced homes/condos is a deal buster.  In many (really most) cases, the property taxes are LARGER than even a no-equity mortgage.  And property taxes are sure to increase signficantly as the burden of pensions weighs on muncipalities.  And let's not even mention the impact of a "fiscal cliff".  I was joking with my wife that soon they'll be giving houses away FOR FREE just to get people to pay the insane property taxes.  But, the more I think about it, the less funny it seems to be.

Thu, 09/20/2012 - 04:40 | 2814127 Urban Redneck
Urban Redneck's picture


NEITHER party advocates them.


Thu, 09/20/2012 - 08:07 | 2814314 rbg81
rbg81's picture


There are measures that can be taken.  I don't call these measures "solutions" as they will cause someone (or some group) considerable pain.  Since "pain" is not longer politically acceptable, only measures that can be enacted by total stealth or misdirection (leaving politicians plausible deniability) will be taken.  As we all know, one such measure is ZIRP, or increasingly NIRP.  ZIRP has been screwing savers big time in Japan for decades and now has come to the US.  Basically, ZIRP/NIRP is a backdoor tax on savers.  No doubt that Bernake thinks ZIRP/NIRP justified because these people have the GAUL to want to preserve their capital rather than risk it in the Casino (ahem, Market).  Right now they are the only ones taking it in the shorts because: 1) its being done by policy with no one's fingerprints on it but Bernake; 2) most people are too dumb to realize they're being screwed; 3) under NIRP, the Government can actually make $$ off the deficit and has no restraint on spending (imagine that);  4) And most importantly: people who save are generally responsible citizens to begin with and tend to be the last to riot.

Thu, 09/20/2012 - 11:18 | 2815044 Urban Redneck
Urban Redneck's picture

The fundamental flaw of any 2-party political system (much less the US model which is built on entirely artificial divisions and lacks any moral, philosphical, or ideological consistency) is that it enables other objectives to take primacy over  success through finding consensus and shared sacrifice.  In the US the bar is 51% in one House and 60% in the Senate, and that beomes the primary objective- a simple tyranny of the majority.

There is an entire generation of politicians in Washington whose entire experience is that this is the natural state of Government and an acceptable method of Governing.

Solutions involve spreading a modest amount of pain accross the largest area (larger than the existing area), thereby minimizng the the burden on each individual.  But solutions are not the objective politicians seek, and that is the problem.

Wed, 09/19/2012 - 23:49 | 2813863 knightowl77
knightowl77's picture

And yet "defense" spending is the only thing Constitutionally authorized....everything else our government spends on (with some minor exceptions) are the responsibility of the state and local governments, and to the people is when the government starts to do other undeclared wars, rebuilding other countries, unemployment bennies, loans to banks and car companies that truly get fooked!

Thu, 09/20/2012 - 12:54 | 2815348 boiltherich
boiltherich's picture

I do not wish to attack your sentiments about the spending authority of the federal government, or what constitutes state responsibility, but to say the CONSTITUTION of the US only allows for military spending is just not the case. There were a number of items the founders carved out as federal responsibility and these were NOT "minor," as you assert.

Furthermore, they specifically included in the preamble to the constitution a very broad guide as to federal responsibility, and federal discretion of what constituted the "general welfare" of the citizens of the United States. To that crucial end in the constitution they provided for that discretion and duty of the government through a series of checks and balances, which worked brilliantly till say 1913. The fact that those checks and balanced then became corrupted by a few wealthy men does not mean that the USA is a corrupt or destroyed entity, it only means that the brave and the free better get off their asses and fix those checks and balances before it is too late.

I only fear that it might already be too late because in our constitution the founders constructed the nation such that it is inherently a two party system, they deemed the parliamentary system headed by a monarch to be fatally flawed and a certain path to end liberty. They wanted a system where there would be at least two voices (parties), as opposed to the single voice of a king, in order to debate policy, thinking that reasonable people would then come to compromises that benefitted all but with the afore mentioned checks and balances because they knew that the baser instincts of men would be as potent a threat to individual freedom as any tyrant on a throne. They made the constitution and the governing rules adaptable because they knew that the world would not be static frozen in amber forever. That there would always be competing values, competing needs, and competing greeds.

The civil war for example, many here state openly that it CAUSED the end/sharp curtailment of states rights. But that of course is idiotic, it was the assertion of obtuse and fictional states rights (without accompanying states responsibilities I say) that so egregiously violated federal rights that triggered the war not the other way around. One hundred and fifty years later the losers of that argument still bitch about it, but they can't grasp that their theories are marginal at best. They lost, end of story. But that has not stopped them from trying endlessly to control the lives/liberty of others they feel so personally superior to. To them states rights is a simple code to mean your rights are better or more important than mine, or to blacks, or to women, or to the poor, or, well, pick any subcategory you like. In fact they are saying they have rights and the rest have privileges doled out in the measures they deem appropriate and not the other way around, they just can't absorb the fact that rights are equal and freedom and LIBERTY are what we COLLECTIVELY define it to be, not what they have come to assert because they are greedy and do not want to pay for that very nation that bestows any rights in the first place.

Thu, 09/20/2012 - 04:57 | 2814139 fajensen
fajensen's picture

All it will do is cause massive social unrest.  

"It" cannot work any other way: Social unrest is both neccesary and planned to justify the bloated security/defence circus, to absorb the troops coming home and to disappear dissidents. To keep the racket going, IOW.

Thu, 09/20/2012 - 14:48 | 2815763 trichotil
trichotil's picture

if properly roasted on a spit bibi could be tasty, tasteful,and kosher; win all around. 8)

Wed, 09/19/2012 - 18:04 | 2813073 sessinpo
sessinpo's picture

To call Bibi a War Pig compared to others such as the US is humorous. With all the rhetoric that has gone on for decades, Israel, if a War Pig, could have laid waste to all of Middle East years ago.

Wed, 09/19/2012 - 18:10 | 2813092 john39
john39's picture

so why is he making the rounds pounding for war to the extent that even U.S. military brass have to publically diss him?

Wed, 09/19/2012 - 18:32 | 2813165 Yes We Can. But...
Yes We Can. But Lets Not.'s picture

Um, perhaps he takes seriously the Iranian leadships' constantly stated intent to annihilate the Jews?

Wed, 09/19/2012 - 19:01 | 2813237 Gringo Viejo
Gringo Viejo's picture

Yes We Can: You're in Jew Hater Heaven here. Don't try posting anything positive about Israel or Jews no matter how rational your point.

Wed, 09/19/2012 - 19:13 | 2813262 Doomer
Doomer's picture

That's funny, because there is absolutely nothing rational about Israel.  It wouldn't exist but for the support of the United States, yet we gain nothing from that support.

Wed, 09/19/2012 - 19:18 | 2813272 Gringo Viejo
Gringo Viejo's picture

I learned as a young man that you never try to teach a pig to sing. It wastes your time and annoys the pig.

Wed, 09/19/2012 - 20:02 | 2813378 Almost Solvent
Almost Solvent's picture

Fuck yea. It's like taking nailclippers to a gun fight. Aint' gonna work no matter how sharp those blades are.

Wed, 09/19/2012 - 21:16 | 2813534 Dr. Sandi
Dr. Sandi's picture

Wow, down votes for a Robert A. Heinlein quote. What a fucked up world we live in.

Wed, 09/19/2012 - 22:07 | 2813658 Ponzi_Scheme
Ponzi_Scheme's picture

The Jews that run this global conspiracy of shit are not the same Jews we wave hello across the shrubbery.... Unless you live next to Greedscam, Bernanke, Rubin, Kristol, Bair, Fwank, Blankfein, Shapiro, Cantor, Orzag, Weil, Summers etc... You get it yet ?

Thu, 09/20/2012 - 08:24 | 2814360 Redhotfill
Redhotfill's picture

You forgot Rothchilds....

Wed, 09/19/2012 - 22:33 | 2813707 RockyRacoon
RockyRacoon's picture
Camelum saltare doces.

Teaching a camel to dance.  It's an old concept.

Thu, 09/20/2012 - 01:57 | 2814016 tenpanhandle
tenpanhandle's picture

just don't step on its toe.

Wed, 09/26/2012 - 21:35 | 2834278 Henry Hub
Henry Hub's picture

I love camel toes!

Wed, 09/19/2012 - 21:11 | 2813530 moonshadow
moonshadow's picture

thats right gringo and yeswecan. i have found the same to be true- many zerohedgers are anti-semitic. they are very intelligent and knowledgeable but when it comes to seeing plain sense and confronting facts about the mideast they wont face. Won't face how Israel has been merely trying to survive. and how if Israel had wanted to, they could have kicked the sorry asses of all their oppressors long long ago. that shows how much restraint they truly have had. they reserve their military force for last resort when they are pushed against the wall. that's just the historical fact. but this will bring down arrows anyway. it's so peculiar too..because these ZH guys pride themselves on just facing truth and dealing with it

Wed, 09/19/2012 - 21:20 | 2813540 Cathartes Aura
Cathartes Aura's picture

Yusuf Islam?? wow, fancy meeting you here. . .  

Moonshadow - Cat Stevens

Wed, 09/19/2012 - 21:47 | 2813604 moonshadow
moonshadow's picture

Cat Stevens is dead but still lives in his music. Yusuf is someone else. And it's a shame. He was changed by Islam and NOT for the better that's for sure. He has publicly called for the hanging of Salman Rushdie. Rest in Peace Cat Stevens

Wed, 09/19/2012 - 22:55 | 2813731 francis_sawyer
francis_sawyer's picture

Forget about the opinions of ZH "know nothings"... Let's just go straight to the source & listen to what some prominent Israeli's have to say...


"The state.... must see the sword as the main if not the only, instrument with which to keep its morale high and to retain its moral tension. Toward this end it may know it MUST invent dangers, and to do this it must adopt the method of provocation and revenge.... And above all, let us hope for a new war with the Arab countries so that we may finally get rid of our troubles and acquire our space..."

~Diary of Moshe Sharett, Israeli's first Foreign Minister from 1948--1956, and Prime Minister from 1954--1956


“My opinion of Christian Zionists? They’re scum. But don’t tell them that. We need all the useful idiots we can get right now.”

~ Benyamin Netanyahu, (at the time a former Israel Prime Minister)...


"One million Arabs are not worth a Jewish fingernail"

~Rabbi Yaacov Perrin, 1994



"Wars are the Jews harvest, for with them we wipe out the Christians and get control of their gold. We have already killed 100 million of them, and the end is not yet."

~Chief Rabbi in France, in 1859, Rabbi Reichorn.


Thu, 09/20/2012 - 02:07 | 2814024 John_Coltrane
John_Coltrane's picture

"One million Arabs are not worth a Jewish fingernail""

So, true if the fingernail belonged to Einstein or Feynmann (or dozens more I could easily name).  Think about it and name one single Islamic fingernail that could match the contributions of just those two.  Without the Jewish cultures respect for the individual, knowledge and rationality most of modern science and technology would not exist and we'd be digging and grubbing with sticks.  Religion, on the other hand is just organized superstition.  There's a reason Pakistan and Iran have to steal technology to develop the bomb-they have zero cultural respect for science since it wide adaption would end Islamic superstition and the mullahs power. 

Thu, 09/20/2012 - 03:40 | 2814082 francis_sawyer
francis_sawyer's picture

Here are some stories about your beloved (MIDDLE) fingernails:

There's a reason Pakistan and Iran have to steal technology to develop the bomb-they have zero cultural respect for science


Well, let us take a closer look at that idea of “harmless espionage” by recalling Israel’s most famous failed spy, Jonathan Pollard.

Jonathan Pollard is an American of Jewish descent, born in Galveston Texas, who established a career as an intelligence analyst for the US Navy. There have been many theories offered as to why Pollard decided to betray his country of birth to the Jewish state, but that Pollard did betray his country of birth to Israel is beyond all doubt. Pollard’s defense was that he did not spy so much against the United States, only that he spied for Israel, sending them documents that in his opinion the US should have shared with Israel anyway.

That it was never Pollards job to decide what documents Israel should have was apparently irrelevant. Pollard arrogated that authority to himself. From his position of trust within the US Navy, Pollard delivered over 1000 classified documents to Israel for which he was well paid. Included in those documents were the names of over 150 US agents in the Mideast, who were eventually “turned” into agents for Israel.

But by far the most egregious damage done by Pollard was to steal classified documents relating to the US Nuclear Deterrent relative to the USSR and send them to Israel. According to sources in the US State Department, Israel then turned around and traded those stolen nuclear secrets to the USSR in exchange for increased emigration quotas from the USSR to Israel. Other information that found its way from the US to Israel to the USSR resulted in the loss of American agents operating inside the USSR. Casper Weinberger, in his affidavit opposing a reduced sentence for Pollard, described the damage done to the United States thus, "[It is] difficult to conceive of a greater harm to national security than that caused by... Pollard's treasonous behavior."

This should end the suggestion that Israel’s spies are harmless. They are not. The United States’ nuclear deterrent cost an estimated five trillion taxpayer dollars during the 50s and 60s to build and maintain, and less than $100,000 for Pollard to undermine. Israel waited 13 years to admit Pollard had been spying for them, and now lobbies for his release, having granted him Israeli citizenship.

Pollard is hardly the only Israeli spy operating in the United States. He just had the misfortune to get caught. Here are just a few examples of the Israeli spy operations that have been detected.

1947. Information collected by the ADL in its spy operations on US citizens is used by the House Select Committee on Unamerican Activities. Subcommittee Chair Clare Hoffman dismisses the ADL’s reports on suspected communists as “hearsay."

1950 John Davitt, former chief of the Justice Department's internal security section notes that the Israeli intelligence service is the second most active in the United States after the Soviets.

1954 A hidden microphone planted by the Israelis is discovered in the Office of the US Ambassador in Tel Aviv.

1956 Telephone taps are found connected to two telephones in the residence of the US military attach? in Tel Aviv.

1954 "The Lavon Affair". Israeli agents recruit Egyptian citizens of Jewish descent to bomb Western targets in Egypt, and plant evidence to frame Arabs, in an apparent attempt to upset US-Egyptian relations. Israeli defense minister Pinchas Lavon is eventually removed from office, though many think real responsibility lay with David Ben-Gurion.

1965 Israel apparently illegally obtains enriched uranium from NUMEC Corporation. (Washington Post, 6/5/86, Charles R. Babcock, "US an Intelligence Target of the Israelis, Officials Say.")

1967 Israel attacks the USS Liberty, an intelligence gathering vessel flying a US flag, killing 34 crew members. See "Assault on the Liberty," by James M. Ennes, Jr. (Random House). In 2004, Captain Ward Boston, Senior Legal Counsel for the Navy’s Court of Inquiry into the attack swears under oath that President Lyndon Johnson ordered the investigation to conclude accident, even though the evidence indicates the attack was deliberate. Given the use by Israel of unmarked boats and planes, and the machine-gunning of USS Liberty’s lifeboats, the most likely explanation is that USS Liberty was to be sunk with all hands, with evidence left to frame Egypt for the sinking. This would have dragged the US into the war on Israel’s side.

1970 While working for Senator Henry “Scoop” Jackson, Richard Perle is caught by the FBI giving classified information to Israel. Nothing is done.

1978, Stephen Bryen, then a Senate Foreign Relations Committee staffer, is overheard in a DC hotel offering confidential documents to top Israeli military officials. Bryen obtains a lawyer, Nathan Lewin, and the case heads for the grand jury, but is mysteriously dropped. Bryen later goes to work for Richard Perle.

1979 Shin Beth [the Israeli internal security agency] tries to penetrate the US Consulate General in Jerusalem through a “Honey Trap”, using a clerical employee who was having an affair with a Jerusalem girl.

1985 The New York Times reports the FBI is aware of at least a dozen incidents in which American officials transferred classified information to the Israelis, quoting [former Assistant Director of the F.B.I.] Mr. [Raymond] Wannal. The Justice Department does not prosecute.

1985 Richard Smyth, the owner of MILCO, is indicted on charges of smuggling nuclear timing devices to Israel (Washington Post, 10/31/86).

1987 April 24 Wall Street Journal headline: "Role of Israel in Iran-Contra Scandal Won't be Explored in Detail by Panels"

1992 The Wall Street Journal reports that Israeli agents apparently tried to steal Recon Optical Inc's top-secret airborne spy-camera system.

1992 Stephen Bryen, caught offering confidential documents to Israel in 1978, is serving on board of the pro-Israeli Jewish Institute for National Security Affairs while continuing as a paid consultant -- with security clearance -- on exports of sensitive US technology.

1992 "The Samson Option," by Seymour M. Hersh reports, “Illicitly obtained intelligence was flying so voluminously from LAKAM into Israeli intelligence that a special code name, JUMBO, was added to the security markings already on the documents. There were strict orders, Ari Ben-Menashe recalled: "Anything marked JUMBO was not supposed to be discussed with your American counterparts."

1993. The ADL is caught operating a massive spying operation on critics of Israel, Arab-Americans, the San Francisco Labor Council, ILWU Local 10, Oakland Educational Association, NAACP, Irish Northern Aid, International Indian Treaty Council, the Asian Law Caucus and the San Francisco police. Data collected was sent to Israel and in some cases to South Africa. Pressure from Jewish organizations forces the city to drop the criminal case, but the ADL settles a civil lawsuit for an undisclosed sum of cash.

1995 The Defense Investigative Service circulates a memo warning US military contractors that "Israel aggressively collects [US] military and industrial technology." The report stated that Israel obtains information using "ethnic targeting, financial aggrandizement, and identification and exploitation of individual frailties" of US citizens.

1996 A General Accounting Office report "Defense Industrial Security: Weaknesses in US Security Arrangements With Foreign-Owned Defense Contractors" found that according to intelligence sources "Country A" (identified by intelligence sources as Israel, Washington Times, 2/22/96) "conducts the most aggressive espionage operation against the United States of any US ally." The Jerusalem Post (8/30/96) quoted the report, "Classified military information and sensitive military technologies are high-priority targets for the intelligence agencies of this country." The report described "An espionage operation run by the intelligence organization responsible for collecting scientific and technologic information for [Israel] paid a US government employee to obtain US classified military intelligence documents." The Washington Report on Middle East Affairs (Shawn L. Twing, April 1996) noted that this was "a reference to the 1985 arrest of Jonathan Pollard, a civilian US naval intelligence analyst who provided Israel's LAKAM [Office of Special Tasks] espionage agency an estimated 800,000 pages of classified US intelligence information."

The GAO report also noted that "Several citizens of [Israel] were caught in the United States stealing sensitive technology used in manufacturing artillery gun tubes."

1996 An Office of Naval Intelligence document, "Worldwide Challenges to Naval Strike Warfare" reported that "US technology has been acquired [by China] through Israel in the form of the Lavi fighter and possibly SAM [surface-to-air] missile technology." Jane's Defense Weekly (2/28/96) noted that "until now, the intelligence community has not openly confirmed the transfer of US technology [via Israel] to China." The report noted that this "represents a dramatic step forward for Chinese military aviation." (Flight International, 3/13/96)

1997 An Army mechanical engineer, David A. Tenenbaum, "inadvertently" gives classified military information on missile systems and armored vehicles to Israeli officials (New York Times, 2/20/97).

1997 The Washington Post reports US intelligence has intercepted a conversation in which two Israeli officials had discussed the possibility of getting a confidential letter that then-Secretary of State Warren Christopher had written to Palestinian leader Yasir Arafat. One of the Israelis, identified only as “Dov”, had commented that they may get the letter from "Mega”, the code name for Israel’s top agent inside the United States.

1997 US ambassador to Israel, Martin Indyk, complains privately to the Israeli government about heavy-handed surveillance by Israeli intelligence agents.

1997 Israeli agents place a tap on Monica Lewinsky’s phone at the Watergate and record phone sex sessions between her and President Bill Clinton. The Ken Starr report confirms that Clinton warned Lewinsky their conversations were being taped and ended the affair. At the same time, the FBI’s hunt for “Mega” is called off.

2001 It is discovered that US drug agents’ communications have been penetrated. Suspicion falls on two companies, AMDOCS and Comverse Infosys, both owned by Israelis. AMDOCS generates billing data for most US phone companies and is able to provide detailed logs of who is talking to whom. Comverse Infosys builds the tapping equipment used by law enforcement to eavesdrop on all American telephone calls, but suspicion forms that Comverse, which gets half of its research and development budget from the Israeli government, has built a back door into the system that is being exploited by Israeli intelligence and that the information gleaned on US drug interdiction efforts is finding its way to drug smugglers. The investigation by the FBI leads to the exposure of the largest foreign spy ring ever uncovered inside the United States, operated by Israel. Half of the suspected spies have been arrested when 9-11 happens. On 9-11, 5 Israelis are arrested for dancing and cheering while the World Trade Towers collapse. Supposedly employed by Urban Moving Systems, the Israelis are caught with multiple passports and a lot of cash. Two of them are later revealed to be Mossad. As witness reports track the activity of the Israelis, it emerges that they were seen at Liberty Park at the time of the first impact, suggesting a foreknowledge of what was to come. The Israelis are interrogated, and then eventually sent back to Israel. The owner of the moving company used as a cover by the Mossad agents abandons his business and flees to Israel. The United States Government then classifies all of the evidence related to the Israeli agents and their connections to 9-11. All of this is reported to the public via a four part story on Fox News by Carl Cameron. Pressure from Jewish groups, primarily AIPAC, forces Fox News to remove the story from their website. Two hours prior to the 9-11 attacks, Odigo, an Israeli company with offices just a few blocks from the World Trade Towers, receives an advance warning via the internet. The manager of the New York Office provides the FBI with the IP address of the sender of the message, but the FBI does not follow up.

2001 The FBI is investigating 5 Israeli moving companies as possible fronts for Israeli intelligence.

2001 JDL’s Irv Rubin arrested for planning to bomb a US Congressman. He dies before he can be brought to trial.

2002 The DEA issues a report that Israeli spies, posing as art students, have been trying to penetrate US Government offices.

2002 police near the Whidbey Island Naval Air Station in southern Washington State stop a suspicious truck and detain two Israelis, one of whom is illegally in the United States. The two men were driving at high speed in a Ryder rental truck, which they claimed had been used to "deliver furniture." The next day, police discovered traces of TNT and RDX military-grade plastic explosives inside the passenger cabin and on the steering wheel of the vehicle. The FBI then announces that the tests that showed explosives were “false positived” by cigarette smoke, a claim test experts say is ridiculous. Based on an alibi provided by a woman, the case is closed and the Israelis are handed over to INS to be sent back to Israel. One week later, the woman who provided the alibi vanishes.

2003 The Police Chief of Cloudcroft stops a truck speeding through a school zone. The drivers turn out to be Israelis with expired passports. Claiming to be movers, the truck contains junk furniture and several boxes. The Israelis are handed over to immigration. The contents of the boxers are not revealed to the public.

2003 Israel deploys assassination squads into other countries, including the United States. The US Government does not protest.

2004 Police near the Nuclear Fuel Services plant in Tennessee stop a truck after a three mile chase, during which the driver throws a bottle containing a strange liquid from the cab. The drivers turn out to be Israelis using fake Ids. The FBI refuses to investigate and the Israelis are released.

2004 Two Israelis try to enter Kings Bay Naval Submarine Base, home to eight Trident submarines. The truck tests positive for explosives.

This brings us to the present scandal. Two years into an investigation of AIPAC’s possible role as a spy front for Israel, Larry Franklin, a mid-level Pentagon Analyst is observed by the FBI giving classified information to two officials of AIPAC suspected of being Israeli spies. AIPAC hires lawyer Nathan Lewin to handle their legal defense, the same lawyer who defended suspected Israeli spy Stephen Bryen in 1978.

Larry Franklin worked in the Pentagon Office of Special Plans, run by Richard Perle, at the time Perle (who was caught giving classified information to Israel back in 1970) was insisting that Iraq was crawling with weapons of mass destruction requiring the United States to invade and conquer Iraq. There were no WMDs, of course, and Perle has dumped the blame for the “bad intelligence” on George Tenet. But what is known is that the Pentagon Office of Special Plans was coordinating with a similar group in Israel, in Ariel Sharon’s office.

With two suspected Israeli spies (at least) inside the office from which the lies that launched the war in Iraq originated, it appears that the people of the United States are the victims of a deadly hoax, a hoax that started a war.

The leaking of the investigation of AIPAC to the media on August 28th, 2004 gave advance warning to other spies working with Franklin. The damage to the FBI’s investigation was completed when United States Attorney General John Ashcroft ordered the FBI to stop all arrests in the case. Like the Stephen Bryen case and the hunt for “Mega”, this latest spy scandal seems destined to be buried by officials who have their own secret allegiances to protect, barring a massive public outcry.

The organization at the heart of the latest spy investigation, AIPAC, wields tremendous influence over the US Congress. Through its members and affiliated PACs, AIPAC directs a huge flow of campaign cash in favor of, and occasionally against, Senators and Representatives solely on the basis of their willingness to support Israel. As an example, in 2002, U.S. Rep. Artur Davis, D-Birmingham received so much help from pro-Israeli pacs that 76% of his campaign budget came from OUTSIDE the state of Alabama, mostly from New York.

Let me repeat that. A Congressman AIPAC wanted elected received more money from pro-Israel groups outside his state than from his own constituents inside his state. Who is that Congressman going to be thinking of when he votes in Congress?

So here is the mother of all scandals.

For two years, the FBI has suspected AIPAC of spying for a foreign country, and for those two years (and for decades before) that group suspected of spying for Israel has been reshaping the US Congress for the benefit of a foreign government.

And THAT is the mother of all scandals.

Think about that as billions of your tax dollars flow to Israel while your roads and schools crumble and decay and services are cut.

Think about that as the coffins come home with your loved ones inside.

Think about that when you and a million of your fellow citizens march down the streets of America opposing wars built on lies and deceptions and wonder why the government just doesn’t want to listen to you any more.

Thu, 09/20/2012 - 06:46 | 2814210 awakening
awakening's picture

Brilliant work there francis_sawyer, many thanks.

Thu, 09/20/2012 - 10:13 | 2814813 moonshadow
moonshadow's picture

the world is a complex and confusing place. we can find people and groups to blame at every turn. you are rightfully indignant about those that would harm you and/or your country. it's the same sentiment around the world among all peoples. what we DO NOT want is an ideology that promotes that offense against other peoples/cultures/religions/beliefs (or lack of) thru it's religion and the literature of that religion. such as Islam. lots of groups have been 'reshaping' throughout history and spies are everywhere. yes what you speak of is something to continue to resist and confront. but it is not the same as anti-semitism

Wed, 09/19/2012 - 21:19 | 2813541 tmosley
tmosley's picture

You shift straight from talking about anti-semitism to criticism of Israeli policy, as though they were the same thing.  Doesn't that strike you as race-baiting nonsense?

Would you support Israel if it decided to gas the Palestinians?  The Iranians?  All Arabs?  All Gentiles?  Would someone who criticised such policies be considered anti-Semitic?

Wed, 09/19/2012 - 21:22 | 2813547 akak
akak's picture

Nothing, of course, justifies collectivist group-hate and bigotry, but perhaps you are confusing anti-Israeli government sentiment, and more to the point, anti-Israeli influence on the US federal government and its aggressively interventionistic foreign policy, with anti-Jewish prejudice?

Israel should stand on its own --- why does the US federal government have to endlessly treat it as the 51st state?

Wed, 09/19/2012 - 21:47 | 2813608 RichardP
RichardP's picture

Let the U.S stop giving money to Israel and to the Egyptian military - at the same time.  Then check back in 5 years and compare the societies that exist in each country at that time.

Wed, 09/19/2012 - 22:06 | 2813655 john39
john39's picture

US money sent to egypt and other arab countries is just more welfare for is-ra-el.  buys off off the governments and militaries toe the zionist line at the expense of their own people.  btw, having more money doesnt make one person superior to another.  exhibit a, mittens romney.  exhibit b, sheldon aldelson.

Wed, 09/19/2012 - 21:53 | 2813549 john39
john39's picture

the truth must be anti-semitic then...    Israel has been 'merely tring to survive'?  i think you are confusing the Palestinians with the Israelis... here, let me help you a bit:

Wed, 09/19/2012 - 21:29 | 2813559 SilverFish
SilverFish's picture

I dont have a problem with the Israeli people themselves. Its the fact that we give them foreign aid that I have a problem with. I feel the same way about any other country on the planet, but since Israel is the topic, I'll just mention them for now. When you're on the verge of bankruptcy, you have no business giving money to anyone else. If they want to exist in the middle of bat-shit crazy Muslim territory, surrounded by idiots, thats their problem, not mine.

Wed, 09/19/2012 - 21:52 | 2813619 RallyRoundTheFamily
RallyRoundTheFamily's picture

also see

Lavon Affair

USS Liberty

Owners of MSM

Thu, 09/20/2012 - 09:07 | 2814509 SilverFish
SilverFish's picture

Apparently, there are two people that believe at least some of your tax dollars rightfully belong to Israel.

Wed, 09/19/2012 - 21:15 | 2813533 Louie the Dog
Louie the Dog's picture

The only thing hated here more than Jews are bankers, but then again, the resident Jew haters here figure all the bankers are Jews anyway so they have it covered both ways.

Well, I guess you gotta blame all your problems on someone.

Wed, 09/19/2012 - 21:18 | 2813538 Dr. Sandi
Dr. Sandi's picture

Skins and shirts. Let's have all the dumbasses in the world divide up into two teams and kill each other.

Oh, wait...

never mind.

Thu, 09/20/2012 - 15:05 | 2815825 avidtango
avidtango's picture

You have to remember that antisemitism (or anti Arabism) is a sickness that was taught.  No rational person would despise a group of folks simply because they were not of your religion or race.  It's an inculculated mechanism which is why prejudice defies rational explanation.

Wed, 09/19/2012 - 20:02 | 2813379 blunderdog
blunderdog's picture

Which "leadership" are you talking about?  The politicians or the mullahs?

You have a citation for that claim?

In Murka, a lot of what "everyone knows" about foreign policy is false.  The Iranians are assholes, but they're *not* the ones who invade neighboring countries every few years.

Wed, 09/19/2012 - 20:55 | 2813494 kaiserhoff
kaiserhoff's picture



Why do the world's most obvious and obnoxious Communists always get top billing at ZH??????????????????????????

Not that I wear a tin hat or anything, but you gotta wonder.

Wed, 09/19/2012 - 21:20 | 2813542 Dr. Sandi
Dr. Sandi's picture

Because in addition to idiots and bigots, there are a lot of interesting people saying things of significance. And some of them are commies. ZH would be useless if it didn't piss of the stupid as well as the intelligent.

Wed, 09/19/2012 - 21:40 | 2813579 blunderdog
blunderdog's picture

This actually has a better answer: it was a Mother Jones reporter who published the leaked the video.  That's why.  If the Wall Street Journal or the Washington Times had received the same footage, they wouldn't have released it.

Releasing that kind of "found footage" might be bad for business.

Wed, 09/19/2012 - 22:01 | 2813642 nmewn
nmewn's picture

"It is lawful under ss. 934.03-934.09 for a person to intercept a wire, oral, or electronic communication when >>>all<<< of the parties to the communication have given prior consent to such interception."

Oh noes ;-)

Wed, 09/19/2012 - 22:30 | 2813703 blunderdog
blunderdog's picture

Ooookay.  Um...yeah...a FEDERAL CRIME was probably committed if you notice that sort of what?

Does the reporter have to turn in his source to the big bad gummit? 

You know they could WATERBOARD him to divulge the info about who recorded that video!  Maybe DRONES will be deployed!

Thu, 09/20/2012 - 06:49 | 2814214 nmewn
nmewn's picture

Yes, we should ignore crimes at every opportunity. More on the "edited" original tape here...

Thu, 09/20/2012 - 09:39 | 2814678 blunderdog
blunderdog's picture

You're such a hypocrite. Most of the time you're crying about how government is intruding on every aspect of your life, but when it suits your agenda, you're looking for some fine-print somwhere criminalizing the activities of your "enemies." 

Calorie counts on menus are tyranny, secretly recording a conversation warrants Federal prosecution (unless it's the government recording the citizenry, of course), and the State should be drug-testing unemployment recipients. 

Wake up.  Changing government isn't the solution to *your* problem--you need to come to terms with the operations of  your own brain.

Wed, 09/19/2012 - 21:53 | 2813620 nmewn
nmewn's picture

Not only Mother Jones (which I admit I read) but Jimmy Carters grandson, sitting in a basement, somewhere...very doubtful its a Habitat for Humanity basement

I can't wait for the Malaise Speech.

Wed, 09/19/2012 - 20:17 | 2813407 john39
john39's picture

>>>perhaps he takes seriously the Iranian leadships' constantly stated intent to annihilate the Jews

what a load a crap... that was never said.  instead, correctly translated, Achmadinijad said that the israeli regime would be removed from history...  and that can't happen soon enough.  Tell me, how many countries has Iran invaded in the past hundred years?  how about Israel, or the United states?  so who is the real threat to world peace?  that hypocritical little patch of a welfare state israel has over 300 illegal nukes... and is crazy enough to use them... and we are supposed to back a war against a non aggressive country, Iran, because it wants to develop nuclear power?  how fooking stupid are Americans?  wait... don't answer that.

Wed, 09/19/2012 - 22:08 | 2813587 moonshadow
moonshadow's picture

john39 said "this was never said" when speaking of ahmadinajad's constantly stated intention to annihilate the Jews. so watch these vids to see if he is correct. and hey john39-could Israel have totally destroyed their enemies by now if they had wanted to? they had the nukes this whole time. that proves they are not 'crazy enough'. Ahma IS crazy enough and if Ahma gets even ONE he will go after Israel yet Israel hasnt used any through all the threats and aggression of all the wars against them. are you even old enough to remember those wars? So these vids and then ask urself if john39 should be calling anyone Else "fooking stupid"                                      

Here he wishes 'death to Israel'                                 Here he denies the holocaust and claims that the people of Europe also don't believe it happened:                  Here he wishes for the destruction of Israel:

Wed, 09/19/2012 - 22:38 | 2813718 john39
john39's picture

So let's start ww3 over saber rattling and intntionally misleading translations? Actions speak truth, Iran hasn't attacked anyone. Israel attacks its neighbors constantly, and murders civilians with impunity.

Why is it that before every freaking war the propaganda machine has to convince the sheeple that a madman is out to get them? Even more strange, in this case anyone with a brain can see that iran is no threat to the U.S. but americans are supposed to die because israel doesnt like the fact that iran is growing more powerful? Total horseshit. Btw, achmadinijad's term is just about up, so no worries, madman issue solved. You can call the Hillary brigades, let freedom and peace (American style) rule the land.

Thu, 09/20/2012 - 00:24 | 2813916 RallyRoundTheFamily
RallyRoundTheFamily's picture

Cmon people now, Irans real crime is to dare to sell oil without dollars AND no FED\CB, so a "Humanitarian Kinetic Action" is in order.

Thu, 09/20/2012 - 02:35 | 2814044 Ar-Pharazôn
Ar-Pharazôn's picture

yeh sure, Iran will drop 1 or 2 nuclear bomb on israel and they will take back 300 from israel and other 300 from usa. VERY VERY LOGIC my friend

Thu, 09/20/2012 - 05:17 | 2814152 Urban Redneck
Urban Redneck's picture

Attaching that significance that quote is BULLSHIT, if anything, it is evidence for the other side of the debate.

Iran is a sovereign state, with all a State's traditional FR & PR communications infrastructure, they maintain a world-wide official network of embassies and news distribution, staffed with thousands of fluent English speakers.  If there was any mis-understanding, they could have cleared it up long ago.  Their Head of Government is going to take the podium at the UN and could explicitly clarify his previous remarks for the entire world.  Hell, they have access to YouTube and could "post an officially sanctioned video"

The previous translation of his words is CORRECT, in meaning and significance, if not literally.

Thu, 09/20/2012 - 08:13 | 2814332 old naughty
old naughty's picture

"In response to a plant..." he staged himself as a game-chang-er so the elites would have an alternate plan.

So he'd replace Ben and Fed would stop buying this (but will buy that)...rate hike = inflation. Hummmmmm.

Wed, 09/19/2012 - 17:52 | 2813032 LongBalls
LongBalls's picture

They are doing the only thing they can do. Open conquest of the worlds oil (control economies through growth via access) and solidify the petro dollar standard. This forces everyone to hold dollars in the face of devaluation because they must buy oil with them. If this fails then yes, a failed Treasury auction will take place. It will probably happen anyway as countries are becoming ever more clever at finding different ways to settle trade with different mediums of exchange. Got gold?

Wed, 09/19/2012 - 19:31 | 2813305 Renewable Life
Renewable Life's picture

Here is another uplifting stat to consider.......

America now imprisons more males between the ages of 15-35, then any other Country on Earth!!! And that population continued to grow every month, and 75% of that prison population is for non violent crimes!!!

What do you think America would look like, if and when the taxpayers can no longer afford to support this industrial prison population???? We will make Syria look like a cake walk!!

Something to think about!

Wed, 09/19/2012 - 20:04 | 2813382 Almost Solvent
Almost Solvent's picture


The majority of those "males" are really more like feral animals. 

Seriously, the need to cull worldwide population has never been more self evident . . . 

Wed, 09/19/2012 - 21:58 | 2813635 Pants McPants
Pants McPants's picture

You first.  Go ahead, lead by example.


Wed, 09/19/2012 - 23:40 | 2813801 Almost Solvent
Almost Solvent's picture

Fuck off cunt, go back to your feral animal preserve.


Maybe you like paying to house & feed & secure feral animals, I don't.


If you think mother earth can suport the tens of billions of people soon to inhabit her without MASSIVE oil & chemicals, then you're just as sound asleep as most of the assholes inhabiting this planet. 


And don't get me started on the mass die-offs in the oceans. Soon the only thing in the oceans will be whales and jellyfish.


Wed, 09/19/2012 - 23:47 | 2813857 akak
akak's picture


Soon the only thing in the oceans will be whales and jellyfish.

Fuck you whare!

Fuck you jerryfish!

Wed, 09/19/2012 - 23:57 | 2813878 Almost Solvent
Almost Solvent's picture

I forgot all the garbage and plastic floating out there as well. 

Thu, 09/20/2012 - 09:29 | 2814622 Chaos_Theory
Chaos_Theory's picture

I hope when this collapses you get violently ass-raped by a 100 of those feral creatures you totalitarian oligarch-wannabee

Wed, 09/19/2012 - 20:12 | 2813401 Cazzi amari
Wed, 09/19/2012 - 20:15 | 2813411 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

I am not really too afraid of that stoner they would release. He would be too lazy to get off his fat ass!

Wed, 09/19/2012 - 20:17 | 2813415 elementary
elementary's picture

Because privatizing the prisons is BIG business.  You can't make money if you don't have inmates.

Wed, 09/19/2012 - 23:30 | 2813821 putaipan
putaipan's picture

and now theprison industrial complex is demanding GUARENTEES of occupancy for the prisons they are privatizing

Thu, 09/20/2012 - 02:37 | 2814048 Ar-Pharazôn
Ar-Pharazôn's picture

you're sure that it's not China?

Thu, 09/20/2012 - 05:07 | 2814146 fajensen
fajensen's picture

If 75% are non-violent I can't really see the problem with them on the streets. The major risk in the future is that one gets capped by the cops and writtten off as collateral damage.

Thu, 09/20/2012 - 05:24 | 2814156 Urban Redneck
Urban Redneck's picture

The previous "mass pardons" of prison populations have had disasterous consequences for the health of the local populaces as well as the economy and health care infrastructure.  It's something that no one like to talk about publicly, but if no one comes up with a plan to mitigate the known effects of such an action, then history will repeat itself.  Cue the cliche definition of insanity...

Thu, 09/20/2012 - 10:12 | 2814825 fajensen
Thu, 09/20/2012 - 09:59 | 2814770 tip e. canoe
tip e. canoe's picture

At a time when states are struggling to reduce bloated prison populations and tight budgets, a private prison management company is offering to buy prisons in exchange for various considerations, including a controversial guarantee that the governments maintain a 90% occupancy rate for at least 20 years

of course, this will help levitate the USGDP.   in other words, don't expect the circle jerk to end anytime soon.

Wed, 09/19/2012 - 19:49 | 2813361 BurningFuld
BurningFuld's picture

As neither myself or my country requires USD to buy oil I dispute your assertion. 

Wed, 09/19/2012 - 22:10 | 2813597 grid-b-gone
grid-b-gone's picture

I don't think we get a failed auction because we already have failed auctions where 100% of the offering still ends up being bought.

What we get is someone, probably in an oil transaction several years in the future, who rejects the U.S. dollar as the medium of exchange, knowing years of failed auctions have destroyed its underlying value. 

This may come after the yen and euro get rejected on the world stage and the dollar gets one final temporary boost as the reserve currency.

I think Mitt, given his choice of Ryan and anti-bernanke statements, would take the export hit to maintain a stronger dollar that is still accepted as the world's reserve currency.

If the dollar ever fails, gold becomes the reserve currency by default. Bernanke thinks he can reverse that. Mitt has the sense not to risk it.

But an Obama vote is a vote to let the party continue. Many look at Japan and think we can extend and pretend for another 10-15 years. 

Ron Paul was rejected for wanting to take the punchbowl away entirely. Mitt's plan is to just add a turd. Obama wins with his call to just party on.

I think we're past the point when a majority could ever act prudently to avert a financial crisis, so all we can do is prepare as individuals.

Wed, 09/19/2012 - 17:52 | 2813038 Everybodys All ...
Everybodys All American's picture

He's said he would get rid of Bernanke. I'm hoping he meant  put him in prison. That might send the right message. What ya think?

Wed, 09/19/2012 - 18:17 | 2813094 12ToothAssassin
12ToothAssassin's picture

Yah, but will the replacement be worse? I dont think it matters who is the chairman, the same agenda will be pushed. Just another empty suit in the long list after POTUS, Attorney General, etc.



The puppet show

Wed, 09/19/2012 - 18:29 | 2813153 Everybodys All ...
Everybodys All American's picture

I agree. So lets jail the whole fucking cabal.

Wed, 09/19/2012 - 18:52 | 2813218 Ima anal sphincter
Ima anal sphincter's picture


Wed, 09/19/2012 - 20:20 | 2813419 elementary
elementary's picture

Only if it's a Turkish or Peruvian jail. Otherwise jail is not enough.

Wed, 09/19/2012 - 23:32 | 2813830 Moon Pie
Moon Pie's picture

Cabal...great word and most fit for the description.   They are one, big, hot mess of a Cabal...and I think they don't know whether to shit or go blind....but opt to shit and run for the hills and leave us to sort it out without anihilating each other.  Bankers are cunts.

Thu, 09/20/2012 - 00:39 | 2813934 MiltonFriedmans...
MiltonFriedmansNightmare's picture

Jail may be a bit too kind, eh?

Wed, 09/19/2012 - 20:54 | 2813491 New England Patriot
New England Patriot's picture

Paul Krugman has been running for Chairman since he was born. 


Not looking for a replacement for Bernanke. Looking for a replacement for the Fed.

Wed, 09/19/2012 - 22:05 | 2813654 grid-b-gone
grid-b-gone's picture

Jim Grant. Reduce the number of governors to seven and fill at least four of the spots with the likes of Ron Paul, Eric Sprott (Canadian), and Kyle Bass.

Wed, 09/19/2012 - 18:54 | 2813222 HappyCamper
HappyCamper's picture

Sounds like Romney’s been reading ZH and he has the balls to speak the truth. Does any politician have a chance in hell who acts that way?

Wed, 09/19/2012 - 19:22 | 2813279 knukles
knukles's picture

Ask Ron Paul

Wed, 09/19/2012 - 22:01 | 2813643 GoinFawr
GoinFawr's picture

Or Ralph Nader. That said, i still up arrowed your goofy ass.

Wed, 09/19/2012 - 20:03 | 2813380 nmewn
nmewn's picture

I don't know...the jury is still out.

But the criminals are now making the case for why he was wrong to say it ;-)

Wed, 09/19/2012 - 22:51 | 2813729 RockyRacoon
RockyRacoon's picture

I'm with you on that, but... (yeah, here it comes).  I think that the bigger picture may be missing in the recent $50K dinner so-called gaffes by Romney.  I see what he said in complete alignment with his philosophy:  Say what is pleasing or acceptable to the immediate audience -- whatever, whenever.   It's been the case since his Governorship.  He only lacks the ability to gauge and measure the statements and foresee the ramifications of his statements.   For that reason alone I think he may not be presidential material.  As we all know, a President has to be able to juggle lots of lies and misdirections without pissing off too many people to remain in office.   Romney's inability to juggle his words/thoughts as needed will not come in very handy when dealing with foreign governments!  Kinda scares me.  Someone who has a pathological need to be loved doesn't belong in public office.  Note that I don't attribute these characteristics to Romney to the exclusion of any other politician.  Most of them fit the description, but a lot of them are more adept at the legerdemain.  There are words for those better suited for the job, like "diplomatic" and "charismatic".   Liars all.

Thu, 09/20/2012 - 00:40 | 2813939 Clinteastwood
Clinteastwood's picture

You must have loved Bill Clinton.

Thu, 09/20/2012 - 00:46 | 2813949 RockyRacoon
RockyRacoon's picture

Read the last two-word sentence.  He was a master liar.  Still is.

If I don't mention your pet politicians by name you'll assume I am enamored of them?  Not so.

Wed, 09/19/2012 - 20:06 | 2813387 blunderdog
blunderdog's picture

Replace Bernanke and you'll just find another guy who's SURE the solution is low rates forever.

If I'm wrong, and he were to bring in a Volcker wannabe, it's hard to imagine how a 15% Fed rate would HELP.  But I too would like to see it tried, I suppose.

All hail King Dollar....cough cough...

Thu, 09/20/2012 - 05:47 | 2814164 Urban Redneck
Urban Redneck's picture

What's needed is INNOVATION, which means bringing in someone from OUTSIDE, who can think outside the boxes of conformity that are mindlessly checked off when selecting traditional candidates.

What's known is that the current decider-in-chief will continue to the policy of steal-from-the-poor in order to give-to-the-rich and maintain the support of the stupid "poor" in the process.

In theory, Romney could follow a different path, since the private sector does reward results and success, the problem is that his experience of "success" has been predicated on access to easy money.  

Thu, 09/20/2012 - 09:41 | 2814687 blunderdog
blunderdog's picture

The Fed is a monetarist institution--it only has two tools.  It's not like the Fedhead can hold a bakesale or redefine what the dollar is.

Thu, 09/20/2012 - 09:50 | 2814720 Urban Redneck
Urban Redneck's picture

As long as the atatus quo of gridlock is maintained, yes.

Even broad overreach of authority by the Executive branch couldn't bring enough direct "change", other than indirectly by leading to revolt and overturn of the current abomination.

Wed, 09/19/2012 - 18:20 | 2813128 sgt_doom
sgt_doom's picture

Tax dodger, draft dodger Rummey doesn't understand crap -- and this is an idiotic blog post (although good comments on your part, Vagabond).

Romney raided the American tax base with his PE leveraged buyouts and dividend recaps, and further destroyed it with their offshoring of jobs and destruction of companies through some of those PE LBOs.

Romney has helped to destroy the tax base with the aforementioned, and by tax avoidance, etc.


Wed, 09/19/2012 - 18:38 | 2813183 ronaldawg
ronaldawg's picture

Your tinfoil hats shines better when you use a smaller font.  Very original.

He he he - you referenced a rolling stone article?  Now that's an unbiased source....

Wed, 09/19/2012 - 19:08 | 2813252 Larry Dallas
Larry Dallas's picture

Sgt Doom: you are definately broke as I can see becasue you don't know what tax dodging or tax evasion is. don't you think Romney has been audited several times?

He's rich because he is smarter than you. Period. He uses the tax loopholes that are available to him and all the other polesmokers in office.

Read a book and put down the Rolling Stone. Maybe get a Suze Horman course. Get a clue.  

Wed, 09/19/2012 - 19:27 | 2813296 BKbroiler
BKbroiler's picture

you are definately broke as I can see becasue

this is either awesome sarcasm or pure idiocy.  I'm either impressed or revolted... and the initials LD, no this has to be irony.  MDB?

Wed, 09/19/2012 - 19:34 | 2813313 sgt_doom
sgt_doom's picture

Welcome to the (Romney) Matrix

Mitt Romney’s individual contributors (please see end for list of financial institution contributors)

 John Paulson, hedge fund manager, Bob Mercer, Renaissance Technologies, Bill Koch, member of Koch family, and various other hedge fund managers and private equity LBO firms, etc.

 John Paulson was the hedge fund manager who made an estimated $5 billion one year betting on the economic meltdown thanks to a supertanker-sized amount of insider information. (Remember that when Alan Greenspan left his position as chairman of the Federal Reserve, he went to work for Paulson at his hedge fund.)

To illustrate the direct wealth transfer in action: Paulson buys a credit default swap (CDS) for $1.4 million, which later pays out $100 million --- and he does that any number of times.

Paulson and the other banksters and hedge fundsters, now have their billions and A.I.G. and Goldman Sachs and JPMorgan Chase and Morgan Stanley, et al., “must” be bailed out by the taxpayers --- who later lose their jobs and homes or residences, and must go on “austerity” programs because Paulson and Goldman Sachs and JPMorgan Chase and GE bought those CDSes and AIG and the others who sold them didn’t have any capital on hand to back them up.

Bob Mercer’s Renaissance Technologies is an institutional investor in the major banks and oil companies which were heavily involved and responsible for the global meltdown as they speculated – or financially manipulated – the prices of oil, energy and commodities – jacking up the paper market price of oil to 13.8 times higher than the actual physical market by May of 2008 by super-selling oil futures to each other, forcing the price upwards.

They used the same scheme to jack up the prices of refinery-involved chemicals and oil transportation costs (using forward freight futures to raise the price of supertanker rental and bulk carriers, etc.)

Mitt Romney’s Fortune

Born into wealth, Romney would accumulate even more by selling debt, loading companies with debt and more debt by taking out loans against companies in leveraged buyout deals to reward himself.

He accumulated even more money by avoiding taxes; utilizing offshore finance centers in the Caymans, Switzerland, and other locations. (The leveraged buyout structure itself is predicated on tax avoidance and shifting the burden of taxation onto the workers due to the tax deductibility of debt payments.)

This is what plutocracy looks like!

(And his Super PAC individual donors)

Wed, 09/19/2012 - 20:13 | 2813402 FrankDrakman
FrankDrakman's picture

Gee, who did you think the Koch bros., Paulson, and the others were going to contribute to? Bambam? Did you think they were going to sit back and let the Maumau bring in a wealth tax unopposed?

Man, you are one smart dooooood....

Wed, 09/19/2012 - 20:19 | 2813418 nmewn
nmewn's picture

So what am I to infer from this?

Thats quite a cross section, housewives, retirees, attorneys, investment guy even ponied up a hundred

Odd, I don't see Soros on here...wonder where his money is going...or Buffet or Gates ;-)



Wed, 09/19/2012 - 20:50 | 2813483 tip e. canoe
tip e. canoe's picture

is there such thing as an unbiased source?

everybody's talkin their book dawg.

Wed, 09/19/2012 - 18:48 | 2813210 Cathartes Aura
Cathartes Aura's picture

more Romney /Bain backstory, via deep connections to Monsanto,

John W. Hanley, the Monsanto CEO at the time, has said how “impressed” he was with the 30-year-old Mitt. Hanley became so close to Romney that he and Romney’s boss Bill Bain devised the idea of creating Bain Capital as a way of keeping Romney in the fold. Unless Mitt was allowed to run this spin-off venture firm, Hanley and Bain feared, he would leave. Hanley even contributed $1 million to Romney’s first investment pool at Bain Capital. Monsanto’s Hanley is in fact the only business executive outside of the Bain founding family to so shape Romney’s career—jumpstarting the two companies, Bain & Company and Bain Capital, that account for all but two years of Romney’s much-ballyhooed business experience. Bain and Romney whispered in Monsanto’s ear until 1985, when Hanley’s successor Richard Mahoney says he “fired” them and when Romney moved on to Bain Capital.

well documented, worth a read. . .

Wed, 09/19/2012 - 19:33 | 2813294 knukles
knukles's picture

As I was reading that I thought the punch line was gonna be he (head of Monsanto) started planting GM corn seeds up his bung or something more up close and personal.


Wed, 09/19/2012 - 19:36 | 2813323 Cathartes Aura
Cathartes Aura's picture

sorry knukles, here's what you were looking for,

Wed, 09/19/2012 - 21:34 | 2813566 Dr. Sandi
Dr. Sandi's picture

There are two things I like about Romney.

First, they say he's a draft dodger. And I say, good, we needed millions more like him during the Vietnam stupidity.

Second, Romney is turning out to be way more entertaining than the past 4 years of Obama.

Since there's not a cunt hair of difference in how the country will be administered for the owners under either one, I'm pulling for Romney. It'll be the excitement of GW Bush as opposed to Pappy Bush.

Forget governance, it's a student council race. Do we prefer President Chocolate or President Vanilla?

But Romney doesn't stay with the teleprompter, and that means we'd have 4 years of great yucks and occasional guffaws when he speaks to us muppets.

Shit, with that kind of material to work with maybe Leno would even be FUNNY again.

Thu, 09/20/2012 - 01:00 | 2813972 RockyRacoon
RockyRacoon's picture

Most excellent, as usual.

Wed, 09/19/2012 - 18:36 | 2813179 Bunga Bunga
Bunga Bunga's picture

Roman empire survived by conquering new territories to gain more tribute payers ... at least for some time.

The economic system needs something it can exploit at reasonable cost to get out of the vicious cycle of debt. Otherwise the disintegration of a state system is only a matter of time.




Wed, 09/19/2012 - 18:53 | 2813219 Zymurguy
Zymurguy's picture

The Romans also in turn destroyed their economy by devaluing their currency over and over and over to fund those wars, etc.  The fact they and all similar societies run up against is a law of diminishing returns.  Face it, we're fooked brah.

Wed, 09/19/2012 - 19:05 | 2813235 Alexandre Stavisky
Alexandre Stavisky's picture

Heart of darkness.  Needs a sacrifice.

Demons make war

Evacuating embassies?  Russian media ploys?  Gulf Buildup.

Sure thing.  Machete and flesh.  Space and will only, separate them.

Axes laid at the root of every tree.  Bring forth not good fruit? Land of Vespucci.

Hew down.  Within and without.

Wed, 09/19/2012 - 22:14 | 2813678 GMadScientist
GMadScientist's picture

Sorry, doesn't work that way, son. If there were something to exploit, idiots would line up to borrow money to be the first to climb on the bandwagon.

They never tire of recycling the bigger fool theory.

The international megacorp and nation state are inseparable symbiotes.

Wed, 09/19/2012 - 18:55 | 2813229 Gringo Viejo
Gringo Viejo's picture

Like all Presidents before him, he'll do what he's told. Nothing more, nothing less.

Wed, 09/19/2012 - 21:02 | 2813515 williambanzai7
williambanzai7's picture

No, he is just saying what Whitehead told him. As a Squid, Whithead clearly understands.

Thu, 09/20/2012 - 04:11 | 2814110 trebuchet
trebuchet's picture

What Mitt Romney also appeared to suggest in that speech was who his candidate for Chairman of the Fed was

Thu, 09/20/2012 - 04:11 | 2814111 trebuchet
trebuchet's picture

What Mitt Romney also appeared to suggest in that speech was who his candidate for Chairman of the Fed was

Thu, 09/20/2012 - 07:06 | 2814227 Watauga
Watauga's picture

Well, your description of his plan is rather doubtful.  He clearly understands at least a substantial part of the problem.  Why would he then go further down the path of failure?  No, his plan would be to cut spending, lower taxes to a reasonable rate, and reduce govt regulation, all designed to promote private sector growth and the creation of jobs.  If he is able to do that, then we start chipping away at deficits and debt.  Can anyone at this point save the U.S. as we have known it for decades?  Likely not.  However, the right plan, well executed, with the right leadership, may well reduce the level of pain for many Americans as we ease into a new American. 

Is Romney part of some ZHer's conspiracy of the willing (Rothschilds, Morgans, Bushes, and so forth)?  I have no idea.  But the one thing I do know is that the longer we suffer under a President Obama, the faster and deeper will be our collapse.  It is HIS plan, HIS desire, HIS goal.  He has been wildly succcessful so far, and his lapdog MSM is carrying his water for him.  If Romney does not win, expect the worst and immediately prepare for TEOTWAWKI.

Wed, 09/19/2012 - 18:31 | 2813162 bigkahuna
bigkahuna's picture


Wed, 09/19/2012 - 17:50 | 2813026 Boeing Boy
Boeing Boy's picture

I thought Gordon Brown was bad.  

Wed, 09/19/2012 - 20:58 | 2813495 rustymason
rustymason's picture

And you are still correct!

Wed, 09/19/2012 - 18:32 | 2813166 sgt_doom
sgt_doom's picture

"$100+ trillion in underfunded US welfare liabilities will someday be funded. "

Well, if they --- the banksters --- could turn $10 trillion into $1.2 quadrillion in derivatives, I imagine that shouldn't really be a problem.

Or else all their ill-gotten gains could be repatriated.

Wed, 09/19/2012 - 18:43 | 2813194 Alexandre Stavisky
Alexandre Stavisky's picture

My peace is gone,

My heart is sore:

I never shall find it,

Ah, nevermore!

My bosom yearns

For paper alone;

Ah, dared I clasp it,

And hold, and own!

And store my wealth,

To heart's desire,

Just 'til the bonds died

So I too must expire!

Gold had I naught,

but many pledges

Nothing more to be bought,

There were zero hedges.

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