29 Signs That The Elite Are Transforming Society Into A Total Domination Control Grid

11/21/2012

http://www.pakalertpress.com/2012/11/21/29-signs-that-the-elite-are-transforming-society-into-a-total-domination-control-grid/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+pakalert+%28Pak+Alert+Press%29

By Truther

The elite want to tightly control almost everything that we do, say and think.  When most people think of “tyranny”, they think of thugs with guns and little dictators running around barking orders at everyone.  But that is not how the elite are accomplishing their goals these days.  They want us to actually believe that we have freedom and that we are choosing our own leaders, but in the background they are exerting “soft power” in a way that is absolutely ruthless.  They fund thepolitical campaigns of our politicians, they own nearly all of the large corporations and financial institutions, they exert very tight control over the media and their agenda is being promoted through the education systems of virtually every nation on the planet.  What the elite are doing is not illegal.  In fact, they use the government and they use the law to accomplish their purposes.

That is one reason why the elite love big government.  For them, it is an instrument of control.  The larger the government is, the easier it is to watch, track, monitor and control the rest of us.  As you read this, a “total domination control grid” is being constructed all around us that is far beyond anything that George Orwell ever dreamed of.  This system is advancing on hundreds of different fronts, and it is getting tighter and more restrictive with each passing day.  We may think that we still have a certain degree of liberty, but if you start doing things that the system does not like, the system has a way of getting you back in line very quickly.  In the end, it is all about control.  There are many among the elite that actually believe that a tightly controlled society that is dominated by government institutions that they control is what is best for humanity.  Many of them honestly believe that society would descend into chaos without a strong hand guiding it.  Many of them truly are convinced that those that are “enlightened” are doing a noble thing by guiding humanity into the “bright future” that the elite are designing for them.  But of course the freedoms and the liberties of the common people must be greatly limited in order to get us to that “bright future”.

We are like cattle that need to be penned in for our own good.  This is how the elite actually think.  I spent many years being educated by them and rubbing shoulders with them.  They should not be trusted.  Once our liberties and freedoms are gone, they will be nearly impossible to get back.  And once the elite have total control, we will be faced with a tyranny unlike anything humanity has ever seen before.

 

The following are 29 signs that the elite are transforming society into a total domination control grid…

1. A new bill in the U.S. Senate would allow more than 20 different government agencies to read your emailwithout a search warrant.

2. Next generation facial recognition cameras that can identify a person in less than a second and “send authorities all known intelligence about anyone who enters a camera’s field of vision” are being put up insouthern California.

3. A highly sophisticated surveillance grid known as “Trapwire” is being installed in major cities and at “high value targets” all over the United States.  Unfortunately, most Americans do not even realize that it exists.

4. Police departments all over America are beginning to deploy unmanned surveillance drones in the skies over their cities.  But don’t think that a drone is not watching you just because you don’t live in a major city.  The truth is that the federal government has been using unmanned surveillance drones to spy on farmersin Iowa and Nebraska.  There could be a drone over your house right now and you might not ever know it.

5. Individual politicians know more about you than they ever have before. The amount of information that the Obama campaign has compiled on potential voters is absolutely frightening

If you voted this election season, President Obama almost certainly has a file on you. His vast campaign database includes information on voters’ magazine subscriptions, car registrations, housing values and hunting licenses, along with scores estimating how likely they were to cast ballots for his reelection.

6. The UK is often five or ten years ahead of much of the rest of the world in implementing “Big Brother” police state measures.  Over there it is now against the law to insult someone with your speech.  If you say something that is “likely” to insult a Muslim or a homosexual you could end up being dragged in front of a judge.  It is only a matter of time before we see these kinds of laws all over the planet.

7. Could you imagine the government telling you what the temperature inside your own home can be?  Anew law in France would do exactly that…

Heating a French home could soon require an income tax consultation or even a visit to the doctor under legislation to force conservation in the nation’s $46 billion household energy market.

A bill adopted by the lower house this month would set prices that homes pay based on wages, age and climate. Utilities Electricite de France and GDF Suez will use the data to reward consumers who cut power and natural gas usage and penalize those whom regulators decide are wasteful.

8. Control freak bureaucrats love to tell others how to run their lives.  For example, one man down in Orlando, Florida was recently ordered to rip out the vegetable garden that he was growing in his front yard.  Will we eventually get to the point where even the smallest details of our lives are micromanaged by the government?

9. Most Americans don’t realize this, but the DNA of almost every newborn baby in America is collected and stored by the government.  What plans do they have for all of this DNA?

10. All over America, schools are beginning to require students to carry IDs with RFID microchips in them wherever they go.  Fortunately, some students are fighting back

The San Antonio sophomore who opposed microchipping student IDs that would track their every movement has inspired a groundswell of 300 students in her huge district who now refuse to wear the identification chips over religious, personal privacy, safety and civil liberties concerns. In addition, some 700 other people have signed petitions opposing the microchipping program.

11. There is more crossover between our education system and our law enforcement system than ever before.  An increasing number of schools in the United States have police officers roaming their hallways, and today there are more than 70,000 children behind bars in America.

12. When you rely on FEMA to take care of you, it can literally feel like you are in prison.  The following is a description of what life is like in one FEMA camp that was set up in New Jersey in the aftermath of Hurricane Sandy…

“Sitting there last night you could see your breath,” displaced resident Brian Sotelo told the Asbury Park Press. “At (Pine Belt) the Red Cross made an announcement that they were sending us to permanent structures up here that had just been redone, that had washing machines and hot showers and steady electric, and they sent us to tent city. We got (expletived).”

Sotelo said Blackhawk helicopters patrol the skies “all day and night” and a black car with tinted windows surveys the camp while the government moves heavy equipment past the tents at night. According to the story, reporters aren’t even allowed in the fenced complex, where lines of displaced residents form outside portable toilets. Security guards are posted at every door, and residents can’t even use the toilet or shower without first presenting I.D.

“They treat us like we’re prisoners,” Ashley Sabol told Reuters. “It’s bad to say, but we honestly feel like we’re in a concentration camp.”

13. Your cell phone collects information about you wherever you go, and law enforcement authorities in the United States requested that cell phone data be turned over to them more than a million times in 2011 alone.

14. The federal government has created an iPhone app that is designed to encourage all of us to take photos of “suspicious activity” and report our neighbors to the authorities.

15. The U.S. government is increasingly using spyware to monitor the behavior of their employees while they are at work.

16. According to three NSA whistleblowers, the agency “has the capability to do individualized searches, similar to Google, for particular electronic communications in real time through such criteria as target addresses, locations, countries and phone numbers, as well as watch-listed names, keywords, and phrases in email.”

17. Private corporations are gathering every shred of information about you that they possible can. One of the largest companies involved in “mining our data” is known as Acxiom.  It turns out that Acxiom has compiled information on more than 190 million people in the United States alone…

The company fits into a category called database marketing. It started in 1969 as an outfit called Demographics Inc., using phone books and other notably low-tech tools, as well as one computer, to amass information on voters and consumers for direct marketing. Almost 40 years later, Acxiom has detailed entries for more than 190 million people and 126 million households in the U.S., and about 500 million active consumers worldwide. More than 23,000 servers in Conway, just north of Little Rock, collect and analyze more than 50 trillion data ‘transactions’ a year.

18. We are being trained to give up our privacy and our dignity in the name of “security”.  For example, what the TSA did recently to one woman who was dying of leukemia was absoutely shameful

A dying woman says a a security pat-down at Sea-Tac Airport left her embarrassed in front of crowds of people.

Michelle Dunaj says screeners checked under bandages from recent surgeries and refused to give her a private search when she requested one.

19. According to one recent survey, nearly one-third of all Americans would be willing to submit to a “TSA body cavity search” in order to fly.

20. Law enforcement authorities all over the United States will soon be driving around in unmarked vehicles looking inside your cars and even under your clothes using the same backscatter technology currently being used by the TSA at U.S. airports…

American cops are set to join the US military in deploying American Science & Engineering’s Z Backscatter Vans, or mobile backscatter radiation x-rays. These are what TSA officials call “the amazing radioactive genital viewer,” now seen in airports around America, ionizing the private parts of children, the elderly, and you (yes you).

These pornoscannerwagons will look like regular anonymous vans, and will cruise America’s streets, indiscriminately peering through the cars (and clothes) of anyone in range of its mighty isotope-cannon. But don’t worry, it’s not a violation of privacy. As AS&E’s vice president of marketing Joe Reiss sez, “From a privacy standpoint, I’m hard-pressed to see what the concern or objection could be.”

21. A company known as BRS Labs has developed “pre-crime surveillance cameras” that supposedly can identify criminal activity before it happens.  These cameras are being installed at major transportation hubsall over San Francisco.

22. According to Gizmodo, the Department of Homeland Security will soon be using laser-based scanners that can scan your body, your clothes and your luggage from 164 feet away…

Within the next year or two, the U.S. Department of Homeland Security will instantly know everything about your body, clothes, and luggage with a new laser-based molecular scanner fired from 164 feet (50 meters) away. From traces of drugs or gun powder on your clothes to what you had for breakfast to the adrenaline level in your body—agents will be able to get any information they want without even touching you.

And without you knowing it.

The technology is so incredibly effective that, in November 2011, its inventors weresubcontracted by In-Q-Tel to work with the US Department of Homeland Security. In-Q-Tel is a company founded “in February 1999 by a group of private citizens at the request of the Director of the CIA and with the support of the U.S. Congress.” According to In-Q-Tel, they are the bridge between the Agency and new technology companies.

Their plan is to install this molecular-level scanning in airports and border crossings all across the United States.

23. A complex network of automated license plate readers carefully track the movements of millions of vehicles as they move in and out of Washington D.C. and the surrounding suburbs.  Most people do not even know that they are there.

24. The FBI is spending a billion dollars to develop a biometric identification system that will reportedly be far more sophisticated than anything that law enforcement in the United States has ever had before….

The US Federal Bureau of Investigation has begun rolling out its new $1 billion biometric Next Generation Identification (NGI) system. In essence, NGI is a nationwide database of mugshots, iris scans, DNA records, voice samples, and other biometrics, that will help the FBI identify and catch criminals — but it is how this biometric data is captured, through a nationwide network of cameras and photo databases, that is raising the eyebrows of privacy advocates.

Until now, the FBI relied on IAFIS, a national fingerprint database that has long been due an overhaul. Over the last few months, the FBI has been pilot testing a facial recognition system— and soon, detectives will also be able to search the system for other biometrics such as DNA records and iris scans.

25. If the government decides that you are a “bad guy”, they can put you on a “no fly list” that will ban you from flying indefinitely.  This can be done to you at any time, without any notice, and you won’t be told that it has happened.  In fact, as one prepper discovered recently, you might only find out that you are on the list when you try to board a flight.

26. Those that revere individual liberty are now being labeled as “potential terrorists” in official U.S. government documents.

27. A National Guard whistleblower recently revealed that members of his unit were told that “doomsday preppers” will be treated as “terrorists” when civil unrest breaks out.

28. One family in Idaho recently had their home raided by a SWAT team because a computer identified them as “constitutionalists” after someone had phoned in and complained about a domestic disturbance at their address.

29. Today, the mainstream media in the United States is totally dominated by just six giant corporations.  Those corporations own television networks, cable channels, movie studios, newspapers, magazines, publishing houses, music labels and large numbers of popular websites.  The way that almost every American looks at the world is being constantly influenced by these media corporations every single day.

This article first appeared at The Truth Wins.

OLDDOGS COMMENTS

For over eight years, I have been researching the many ways freedom is being lost in America, and the rest of the world, and the most astounding thing I discovered is the apathy toward this subject by my fellow American’s. Ladies and gentlemen, I’m warning you now in no uncertain terms, if you don’t get off your ass and get personally involved, you are going to suffer unmentionable deprivation in the very near future. Death will become preferable to your new lifestyle, and parents will kill their babies out of grief for their future. Your wildest imaginations will be exceeded by your government.      The elite are animals of the lowest nature, and must be eliminated.


From the Man Who Bought One Million Dollars of Nickels

11/19/2012

http://www.economicpolicyjournal.com/2012/11/from-man-who-bought-one-million-dollars.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+economicpolicyjournal%2FKpwH+%28EconomicPolicyJournal.com%29

Kyle Bass of Kayman Capital Management is out with his most recent letter to investors in his hedge fund. Below are some of the key highlight,  as assembled by Zero Hedge, from the  letter. Of note, he hurls a grenade at Modern Monetary Theory (MMT) . He states, correctly, that fallacies such as MMT  are “leading the sheep to slaughter.”

On central banks and the final round of global monetary debasement:

Central bankers are feverishly attempting to create their own new world: a utopia in which debts are never restructured, and there are no consequences for fiscal profligacy, i.e. no atonement for prior sins. They have created Potemkin villages on a Jurassic scale. The sum total of the volatility they are attempting to suppress will be less than the eventual volatility encountered when their schemes stop working. Most refer to comments like this as heresy against the orthodoxy of economic thought. We have a hard time understanding how the current situation ends any way other than a massive loss of wealth and purchasing power through default, inflation or both.

In the Keynesian bible (The General Theory of Employment, Interest and Money), there is a very interesting tidbit of Keynes’ conscience in the last chapter titled “Concluding Notes” from page 376:

[I]t would mean the euthanasia of the rentier, and, consequently, the euthanasia of the cumulative oppressive power of the capitalist to exploit the scarcity value of capital. Interest today rewards no genuine sacrifice, any more than does the rent of land. The owner of capital can obtain interest because capital is scarce, just as the owner of land can obtain rent because land is scarce. But whilst there may be intrinsic reasons for the scarcity of land, there are no intrinsic reasons for the scarcity of capital.

Thus we might aim in practice (there being nothing in this which is unattainable) at an increase in capital until it ceases to be scarce, so that the functionless investor will no longer receive a bonus[.] (emphasis added)

This is nothing more than a chilling prescription for the destruction of wealth through the dilution of capital by monetary authorities.

Central banks have become the great enablers of fiscal profligacy. They have removed the proverbial policemen from the bond market highway. If central banks purchase the entirety of incremental bond issuance used to finance fiscal deficits, the checks and balances of “normal” market interest rates are obscured or even eliminated altogether. This market phenomenon does nothing to encourage the body politic to take their foot off the spending accelerator. It is both our primary fear and unfortunately our prediction that this quixotic path of spending and printing will continue ad?infinitum until real cost?push inflation manifests itself. We won’t get into the MV=PQ argument here as the reality of the situation is the fact that the V is the “solve?for” variable, which is at best a concurrent or lagging indicator. Given the enormity of the existing government debt stock, it will not be possible to control the very inflation that the market is currently hoping for. As each 100 basis points in cost of capital costs the US federal government over $150 billion, the US simply cannot afford for another Paul Volcker to raise rates and contain inflation once it begins.

Hayek was, of course, right:

The current modus operandi by central banks and sovereign governments threatens to take us down Friedrich von Hayek‘s “Road to Serfdom”. Published in 1944, its message, that all forms of socialism and economic planning lead inescapably to tyranny, might prove to have been prescient. In the 1970s, when Keynesianism was brought to crisis, politicians were vociferously declaring that attempting to maintain employment through inflationary means would inevitably destroy the market economy and replace it with a communist or some other totalitarian system which is the “perilous road” to be avoided “at any price”. The genius in the book was the argument that serfdom would not be brought about by evil men like Stalin or Hitler, but by the cumulative effect of the wishes and actions of good men and women, each of whose interventions could be easily justified by immediate needs. We advocate social liberalism, but we also need to get there through fiscal responsibility. Pushing for inflation at this moment in time will wreak havoc on those countries whose cumulative debt stocks represent multiples of central government tax revenue.

The non?linearity of expenses versus revenues is what will bring them down.

“Pavlov’s Party” is ending, and when it does, it will happen so fast no reaction will be possible:

Through travel and meetings around the world, it has become clear to us that most investors possess a heavily anchored bias that has been engrained in their belief systems mostly through inductive reasoning. Using one of the Nobel Laureate Daniel Khaneman’s theories, participants fall under an availability heuristic whereby they are able to process information using only variables that are products of recent data sets or events. Let’s face it – the brevity of financial memory is shorter than the half?life of a Japanese finance minister.

Humans are optimistic by nature. People’s lives are driven by hopes and dreams which are all second derivatives of their innate optimism. Humans also suffer from optimistic biases driven by the first inalienable right of human nature which is self?preservation. It is this reflex mechanism in our cognitive pathways that makes difficult situations hard to reflect and opine on. These biases are extended to economic choices and events. The fact that developed nation sovereign defaults don’t advance anyone’s self?interest makes the logical outcome so difficult to accept. The inherent negativity associated with sovereign defaults brings us to such difficult (but logical) conclusions that it is widely thought that the powers that be cannot and will not allow it to happen. The primary difficulty with this train of thought is the bias that most investors have for the baseline facts: they tend to believe that the central bankers, politicians, and other governmental agencies are omnipotent due to their success in averting a financial meltdown in 2009.

The overarching belief is that there will always be someone or something there to act as the safety net. The safety nets worked so well recently that investors now trust they will be underneath them adinfinitum. Markets and economists alike now believe that quantitative easing (“QE”) will always “work” by flooding the market with relatively costless capital. When the only tool a central bank possesses is a hammer, everything looks like a nail. In our opinion, QE just doesn’t stimulate private credit demand and consumption in an economy where total credit market debt to GDP already  exceeds 300%. The UK is the poster child for the abject failure of QE. The Bank of England has purchased over 27% of gross government debt (vs. 12% in the US). UK bond yields have all but gone negative and are now negative in real terms by at least ?1%. Unlimited QE and the zero lower bound (“ZLB”) are likely to bankrupt pension funds whose expected returns happen to be a good 600 basis points (or more) higher than the 10?year “risk?free” rate. The ZLB has many unintended consequences that are impossible to ignore.

Despite reading through Keynes’ works, we didn’t find a single index referencing the ZLB or any similar concept. In his General Theory, there are 64 entries in the index under “Interest” but no entry for the ZLB, zero rates, or even “really low rates”.

Our belief is that markets will eventually take these matters out of the hands of the central bankers. These events will happen with such rapidity that policy makers won’t be able to react fast enough.

On the lunacy of such “modern” “economic” “theories” as MMT (which may or may not stand for “Magic Money Trees”)

The fallacy of the belief that countries that print their own currency are immune to sovereign crisis will be disproven in the coming months and years. Those that treat this belief as axiomatic will most likely be the biggest losers. A handful of investors and asset managers have recently discussed an emerging school of thought, which postulates that countries, as the sole manufacturer of their currency, can never become insolvent, and in this sense, governments are not dependent on credit markets to remain fiscally operational. It is precisely this line of thinking which will ultimately lead the sheep to slaughter.

The inevitable end of that supremely flawed monetarist experiment – the Eurozone:

Each subsequent “save” of the European debt crisis has been devised by the Eurocrats coming up with some new amalgamation of an entity that is more complex than its predecessor that is designed to project size, strength, and confidence to investors that the problem has been solved. Raoul, a friend of mine who resides in Spain, put it best:

“Let’s just clear this up again. The ECB is going to buy bonds of bankrupt banks just so the banks can buy more bonds from bankrupt governments. Meanwhile, just to prop this up the ESM will borrow money from bankrupt governments to buy the very bonds of those bankrupt governments.”

The EFSF, the IMF, the ESM, and the OMT (and who knows what other vehicles they will dream up next) have all been developed to serve as an optical backstop for investors globally. The Eurocrats are sticking with the Merkelavellian playbook of hiding behind the complexity of these various schemes. All one has to do is review the required contributions to said vehicles from bankrupt nations to realize that the circular references are already beginning to show in broad daylight. Does anyone stop to consider that the two largest contributors to the IMF are the two largest debtor nations in the world? Are things beginning to make sense now?

In the end, the EMU won’t look the same, if it exists at all.

And finally, a less than rosy outlook for the entire “developed” world.

Trillions of dollars of debts will be restructured and millions of financially prudent savers will lose large percentages of their real purchasing power at exactly the wrong time in their lives. Again, the world will not end, but the social fabric of the profligate nations will be stretched and in some cases torn.

Sadly, looking back through economic history, all too often war is the manifestation of simple economic entropy played to its logical conclusion. We believe that war is an inevitable consequence of the current global economic situation.


NO CURE FOR STUPIDITY

11/18/2012

Incoming mail from:

Jim R. Schwiesow

A letter to the editor on November 12, 2012 read as follows:

“I feel sorry for Jimmy Carter. His first four years as a president were also a complete failure, but he never received a second chance; my how times have changed.”

In regard to this reader’s mini editorial of 11/12 and his lament that Jimmy Carter never received a second chance after his failed presidency. Could it be that in his day he never had the benefit of runaway voter fraud, illegal foreign contributions, or an innate and complete lack of integrity? Times have indeed changed, but the question is whether or not that change is for the better. We already know that the answer to that question, and it is most definitely not!

 ONE HUNDRED FIFTY MILLION IDIOTS

 Romney’s campaign in addition to being inept lacked one other thing and that was a failure to correctly assess the intelligence of the voting electorate. This being the case he, unlike Obama who comes by stupidity naturally, was unable to communicate on the intellectual level of the near primates who cast their lot with Obama.

In order to reach at least the collective imbecilic one half of the population one must, beside being able to reach into a government bag filled with coerced from taxpayers gifts, be able to speak the language of the feeble-minded. Since Romney was unable to reach the same subpar mentality and degeneracy of Obama he failed in his bid to unseat the Muslim centralist. With such an abstruse puddle of ignorance as the American constituency the chances for his success were negligible. Darwin was wrong; it was people who turned into monkeys.

Since the Republican Party will never be able to recast itself into the moronic image of the Liberal Progressive Democrats it will undoubtedly become extinct in the very near future, let’s face it; it takes at least a modicum of intelligence to understand the superiority of Conservatism over the half-baked secular progressivism of the Democrats.

 IF YOU CAN’T BEAT THEM; JOIN THEM

 In the wild post-mortem thrashing about by the Republicans to recriminate those responsible for this defeat some of these nitwits cry out for the institution of the same outrageously perverse programs and social foolishness that has killed their chances of ever again regaining a superiority in the political arena, we hear such foolish and anserine proffers that the Republicans should, in order to garner a larger share of the Hispanic vote, institute amnesty and a continuance of the look the other way policy in regard to unlawful immigration. What will this accomplish? Simply that Americans as a whole will have to continue to pay for the health, education, and feeding of huge and ever increasing numbers of illegitimate border jumpers. If, with a six trillion debt, one thinks that we can afford it, then carry on to a complete demise.

We are also hearing the same kill whitey vernacular that has greatly imperiled the social stability of this country for a century.  Additionally, to add to this foolish cacophony, we are hearing a demonic din to allow women to indiscriminately murder their babies and fornicate freely and excessively with the aid of citizen supplied contraceptives.  Not so bad that it could never get worse you say, then how about the legitimizing of sodomy and other perverse same sex deviate practices. These simple-minded Republicans are saying, in effect; let’s completely destroy the little that is left of the American family in order to seize some votes from the reprobate Democrats.

 THE END OF THIS NATION IS IN SIGHT AND ABSOLUTELY FORSEEABLE

 Gather yourselves together, yea, gather together, O nation not desired; Before the decree bring forth, before the day pass as the chaff, before the fierce anger of the Lord come upon you, before the day of the Lord‘s anger come upon you.

Seek ye the Lord, all ye meek of the earth, which have wrought his judgment; seek righteousness, seek meekness: it may be ye shall be hid in the day of the Lord’s anger.

As I write this article the nation of Israel is under a continuing rocket attack from the Islamic militants. Most surely Barack Obama is responsible for this war and the killing of innocent Israelis. His disdainful treatment of the Israelis prime minister and the nation as a whole has not gone unnoticed by the heirs of Ishmael in the Middle-East. Americans who believe that their country will not be drawn into this rapidly burgeoning war are foolish and deceived. When finally the bombs are raining down upon them maybe it will dawn upon them that their gift laden Muslim, leader has brought disaster upon them.

 A FALL BY THE NUMBERS

 In descending order Obama is in the process of bringing this nation to its knees and causing its ultimate destruction. He is going to insist upon, and win because of the mandate he feels that he has received from ignorant voters, sizeable tax increases for eighty percent of the population; this alone is going to plunge the economy to stygian depths. A complete economic crumble will ensue from this bit of stupidity, the dollar will collapse and the nation’s credit ratings will plunge. More factories will shut down and businesses will close nationwide.

I will bring seven times more plagues upon you according to your sins

The drought that the Lord has already commenced will continue and intensify. Starvation will follow and endemic disease pestilences will follow the starvation. It is not Obama who is destroying a recalcitrant and heathen nation, but God. Obama was just the first of the plagues that He caused; proof positive that the people are allowed to bring upon themselves their own plagues. And in truth the people of this nation can blame no one, but themselves for a complete destruction that is poised to fall upon them.

It is a depraved and stiff-necked people that God is dealing with, and after a long and completely devastating series of self-wrought besets by the people themselves God will deliver the nation up to foreign belligerents who will finish off the nation once and for all, the United States will collapse, burn, and tumble into the graveyard of fallen nations and empires.

 NO HOPE OTHER THAN THE SOVEREIGN GOD OF CREATION

 God has delivered unto this nation wondrous blessings and benedictions of greatness and power. It is absolutely unbelievable and incredibly stupid that the very people who desire these approvals cut them off, and by their own works insist upon replacements of punishment and correction.

Get on your knees, people! It is now your only hope.


A Small Group of Companies Have Enormous Power Over the World

11/17/2012

http://www.pakalertpress.com/2012/11/17/no-conspiracy-theory-a-small-group-of-companies-have-enormous-power-over-the-world/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+pakalert+%28Pak+Alert+Press%29

A major scientific study identified a number of companies with out-sized control over a huge portion of the earth’s economy. 

In October of 2011, New Scientist reported that a scientific study on the global financial system was undertaken by three complex systems theorists at the Swiss Federal Institute of Technology in Zurich, Switzerland. The conclusion of the study revealed what many theorists and observers have noted for years, decades, and indeed, even centuries:

“An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.”

As one of the researchers stated, “Reality is so complex, we must move away from dogma, whether it’sconspiracy theories or free-market… Our analysis is reality-based.” Using a database which listed 37 million companies and investors worldwide, the researchers studied all 43,060 trans-national corporations (TNCs), including the share ownerships linking them.[1~footnotes at the end of the article]

The mapping of ‘power’ was through the construction of a model showing which companies controlled which other companies through shareholdings. The web of ownership revealed a core of 1,318 companies with ties to two or more other companies. This ‘core’ was found to own roughly 80% of global revenues for the entire set of 43,000 TNCs. And then came what the researchers referred to as the “super-entity” of 147 tightly-knit companies, which all own each other, and collectively own 40% of the total wealth in the entire network.

One of the researchers noted, “In effect, less than 1 per cent of the companies were able to control 40 per cent of the entire network.” This network poses a huge risk to the global economy, as, “If one [company] suffers distress… this propagates.” The study was undertaken with a data set established prior to the economic crisis, thus, as the financial crisis forced some banks to die (Lehman Bros.) and others to merge, the “super-entity” would now be even more connected, concentrated, and problematic for the economy.[2]

The top 50 companies on the list of the “super-entity” included (as of 2007):

Barclays Plc (#1), Capital Group Companies Inc (#2), FMR Corporation (#3), AXA (#4), State StreetCorporation (#5), JP Morgan Chase & Co. (#6), UBS AG (#9), Merrill Lynch & Co Inc (#10), Deutsche Bank (#12), Credit Suisse Group (#14), Bank of New York Mellon Corp (#16), Goldman Sachs Group (#18), Morgan Stanley (#21), Société Générale (#24), Bank of America Corporation (#25), Lloyds TSB Group (#26), Lehman Brothers Holdings (#34), Sun Life Financial (#35), ING Groep (#41), IBNP Paribas #46), and several others.[3]

In the United States, five banks control half the economy: JP Morgan Chase, Bank of America, Citigroup,Wells Fargo, and Goldman Sachs Group collectively held $8.5 trillion in assets at the end of 2011, which equals roughly 56% of the U.S. economy. This data was according to central bankers at the Federal Reserve. In 2007, the assets of the largest banks amounted to 43% of the U.S. economy.

Thus, the crisis has made the banks bigger and more powerful than ever. Because the government invoked “too big to fail,” meaning that the big banks will be saved because they are very important, the big banks have incentive to make continued and bigger risks, because they will be bailed out in the end. Essentially, it’s an insurance policy for criminal risk-taking behavior  The former president of the Federal Reserve Bank of Minneapolis stated, “Market participants believe that nothing has changed, that too-big-to-fail is fully intact.” Remember, “market” means the banking cartel (or “super-entity” if you prefer). Thus, they build new bubbles and buy government bonds (sovereign debt), making the global financial systemincreasingly insecure and at risk of a larger collapse than took place in 2008.[4]

When politicians, economists, and other refer to “financial markets,” they are in actuality referring to the “super-entity” of corporate-financial institutions which dominate, collectively, the global economy. For example, the role of financial markets in the debt crisis ravaging Europe over the past two years is often referred to as “market discipline,” with financial markets speculating against the ability of nations to repay their debt or interest, of credit ratings agencies downgrading the credit-worthiness of nations, of higher yields on sovereign bonds (higher interest on government debt), and plunging the country deeper into crisis, thus forcing its political class to impose austerity and structural adjustment measures in order to restore “market confidence.” This process is called “market discipline,” but is more accurately, “financialterrorism” or “market warfare,” with the term “market” referring specifically to the “super-entity.” Whatever you call it, market discipline is ultimately a euphemism for class war.[5]

The Global Supra-Government and the “Free Market”

In December of 2011, Roger Altman, the former Deputy Secretary of the Treasury under the Clinton administration wrote an article for the Financial Times in which he explained that financial markets were “acting like a global supra-government,” noting:

They oust entrenched regimes where normal political processes could not do so. They force austerity, banking bail-outs and other major policy changes. Their influence dwarfs multilateral institutions such as the International Monetary Fund. Indeed, leaving aside unusable nuclear weapons, they have become the most powerful force on earth.[6]

Altman continued, explaining that when the power of this “global supra-government” is flexed, “the immediate impact on society can be painful – wider unemployment, for example, frequently results and governments fail.” But of course, being a former top Treasury Department official, he went on to endorse the global supra-government, writing, “the longer-term effects can be often trans-formative and positive.” Ominously, Altman concluded: “Whether this power is healthy or not is beside the point.

It is permanent,” and “there is no stopping the new policing role of the financial markets.”[7] In other words, the ‘super-entity’ global ‘supra-government’ of financial markets carries out financial extortion, overthrows governments and impoverishes populations, but this is ultimately “positive” and “permanent,” at least from the view of a former Treasury Department official. From the point of view of those who are being impoverished, the actual populations, “positive” is not necessarily the word that comes to mind.

In the age of globalization, money – or capital – flows easily across borders, with banks, hedge funds and other financial institutions acting as the vanguards of a new international order of global governance. Where finance goes, corporations follow; where corporations venture, powerful states stand guard of their interests. Our global system is one of state-capitalism, where the state and corporate interests are interdependent and mutually beneficial, at least for those in power.

Today, financial institutions – with banks at the helm – have reached unprecedented power and influence in state capitalist societies. The banks are bigger than ever before in history, guarded by an insurance policy that we call “too big to fail,” which means that despite their criminal and reckless behavior  the government will step in to bail them out, as it always has. Financial markets also include credit ratings agencies, which determine the supposed “credit-worthiness” of other banks, corporations, and entire nations.

The lower the credit rating, the riskier the investment, and thus, the higher the interest is for that entity to borrow money. Countries that do not follow the dictates of the “financial market” are punished with lower credit ratings, higher interest, speculative attacks, and in the cases of Greece and Italy in November of 2011, their democratically-elected governments are simply removed and replaced with technocratic administrations made up of bankers and economists who then push through austerity and adjustment policies that impoverish and exploit their populations.

In the age of the “super-entity” global “supra-government,” there is no time to rattle around with the pesky process of formal liberal democracy; they mean business, and if your elected governments do not succumb to “market discipline,” they will be removed and replaced in what – under any other circumstances – is referred to as a ‘coup.’

Banks and financial institutions provide the liquidity – or funds – for what we call “free markets.” Free markets in principle would allow for free competition between companies and countries, each producing their own comparative advantage – producing what they are best at – and trading with others in the international market, so that all parties rise in living standards and wealth together.

The “free market” is, of course, pure mythology. In practice, what we call “free markets” are actually highly protectionist, regimented, regulated, and designed to undermine competition and enforce monopolization. The “free markets” serve this purpose for the benefit of large multinational corporations and banks.

When we use the term “free markets” we are generally referring to the “real” economy, legitimate and legal. When it comes to illegitimate markets, for example, the global drug trade, we do not tend to refer to them as “free markets” but rather, “illegal” and run by “cartels.” Cartels, like corporations, are hierarchically organized totalitarian institutions, where decisions and power and exercised from the top-down, with essentially no input going from the bottom-up.

Large multinational corporations, like large international cartels, seek to control their particular market throughout entire nations, regions, and beyond. Often, co-operation between corporations allow them to function in an oligopolistic manner, where the collectively dominate the entire market, carving it up between them. Major oil companies, agro-industrial firms, telecommunications, pharmaceutical, military contractors and water management corporations are well-known for these types of activities.

Cartels have often been known to engage in a similar practice, though typically they are more competitive with each other. When interests are threatened – which is defined as when a corporation or cartel is at risk of losing its total dominance of its market in a particular region – conflict arises, and often violently so, with the potential for coups, assassinations, terror campaigns, and war.

This is when the state intervenes to protect the market for the cartel or corporate interests. Thus, a market like the global drug trade functions relatively similar to those of the “legitimate” economy, pharmaceuticals, energy, technology, etc. The illicit trade in drugs is as much a “free market” as is the trade in automobiles or oil. And of course, the money ends up in the same place: the global supra-government of “financial markets.”

Banking Cartel or Drug Cartel… or What’s the Difference?

In 2009, the United Nations Office on Drugs and Crime reported that billions of dollars in drug money saved the major banks during the financial crisis, providing much-needed liquidity. Antonio Maria Costa, the head of the UN Office on Drugs and Crime stated that drug money was “the only liquid investment capital” available to banks on the brink of collapse, with roughly $325 billion in drug money absorbed by the financial system. Without identifying specific countries or banks, Costa stated that, “Inter-bank loans were funded by money that originated from the drugs trade and other illegal activities… There were signs that some banks were rescued that way.”[8]

In 2010, Wachovia Bank (now owned by Wells Fargo) settled the largest action ever under the U.S. bank secrecy act, paying a fine of $50 million plus forfeiting $110 million of drug money, of which the bank laundered roughly $378.4 billion out of Mexico. The federal prosecutor in the case stated, “Wachovia’s blatant disregard for our banking laws gave international cocaine cartels a virtual carte  blanche to finance their operations.”

The fine that the bank paid for laundering hundreds of billions of dollars in drug money was less than 2% of the bank’s 2009 profit, and on the same week of the settlement, Wells Fargo’s stock actually went up. The bank admitted in a statement of settlement that, “As early as 2004, Wachovia understood the risk” of holding such an account, but “despite these warnings, Wachovia remained in the business.”

The leading investigator into the money laundering operations, Martin Woods, based out of London, had discovered that Wachovia had received roughly six or seven thousand subpoenas for information about its Mexican operation from the federal government, of which Woods commented: “An absurd number. So at what point does someone at the highest level not get the feeling that something is very, very wrong?” Woods had been hired by Wachovia’s London branch as a senior anti-money laundering officer in 2005, and when in 2007 an official investigation was opened into Wachovia’s Mexican operations, Woods was informed by the bank that he failed “to perform at an acceptable standard.” In other words, he was actually doing his job. In regards to the settlement, Woods stated:

The regulatory authorities do not have to spend any more time on it, and they don’t have to push it as far as a criminal trial. They just issue criminal proceedings, and settle. The law enforcement people do what they are supposed to do, but what’s the point? All those people dealing with all that money from drug-trafficking and murder, and no one goes to jail?[9]

As the former UN Office of Drugs and Crime czar Antonio Maria Costa said, “The connection between organized crime and financial institutions started in the late 1970s, early 1980s… when the mafia became globalized,” just like other major markets. Martin Woods added that, “These are the proceeds of murder and misery in Mexico, and of drugs sold around the world,” yet no one went to jail, asking, “What does the settlement do to fight the cartels?

Nothing – it doesn’t make the job of law enforcement easier and it encourages the cartels and anyone who wants to make money by laundering their blood dollars. Where’s the risk? There is none.” He added: “Is it in the interest of the American people to encourage both the drug cartels and the banks in this way?

Is it in the interest of the Mexican people? It’s simple: if you don’t see the correlation between the money laundering by banks and the 30,000 people killed in Mexico, you’re missing the point.” Woods, who now runs his own consultancy, told the Observer in 2011 that, “New York and London… have become the world’s two biggest laundries of criminal and drug money, and offshore tax havens. Not the Cayman Islands, not the Isle of Man or Jersey. The big laundering is right through the City of London and Wall Street.”[10]

Just as the “too big to fail” program acts as an insurance policy for the big banks to engage in constant criminal activity, taking ever-larger financial risks with the guarantee that they will be bailed out, the settlements and lack of criminal prosecutions for banks laundering drug money provides the incentive to continue laundering hundreds of billions in drug money, because so long as the fine is smaller than the profit accrued from such a practice, it comes down to a simple cost-benefit analysis: if the cost of laundering drug money is less than the benefit, continue with the policy. The same cost-benefit analysis goes for all forms of criminal activity by banks and corporations, whether bribery, fraud, or violating environmental, labour and other regulations. So long as the penalty is less than the profit, the problem continues.

An article in the Observer from July of 2012 referred to global banks as “the financial services wing of the drug cartels,” noting that HSBC, Britain’s biggest bank, had been called before the U.S. Senate to testify about laundering drug money from Mexican cartels, holding one “suspicious account” for four years on behalf of the largest drug cartel in the world, the Sinaloa cartel in Mexico.[11]

In fact, a multi-year investigation into HSBC revealed that the bank was not only a major international drug money-laundering conduit, but also laundered money for clients with ties to terrorism. In July of 2012, as the Senate was publicly investigating HSBC, Antonio Maria Costa stated, “Today I cannot think of one bank in the world that has not been penetrated by mafia money.” The global drug trade is estimated to be worth roughly $380 billion annually, with most of the money made in the consumer markets of North America and Europe.

Using the example of the $35 billion per year cocaine market in the United States, only about 1.5% of these profits make their way to the coca-leaf producers (mostly poor peasants) in South America (who became the target of our bombing and chemical warfare campaigns in the “war on drugs”), while the international traffickers get roughly 13% of the profits, with the remaining 85% earned by the distributors in the U.S. HSBC was accused of laundering the profits of the distributors.[12]

The U.S. Senate report concluded that HSBC had exposed the U.S. financial system to “a wide array of money laundering, drug trafficking, and terrorist financing,” including billions in “proceeds from illegal drug sales in the United States.” HSBC acknowledged, in an official statement, that, “in the past, we have sometimes failed to meet the standards that regulators and customers expect.”

Among those “standards” that HSBC “sometimes failed to meet,” according to the Senate investigation, were financing provided to banks in Saudi Arabia and Bangladesh which were tied to terrorist organizations, while the bank’s regulator failed to take a single enforcement action against HSBC.[13] Among the terrorist organizations which potentially received financial assistance from HSBC through Saudi banks was al-Qaeda.

HSBC put aside $700 million to cover any potential fines for such activities, which is not uncommon for banks to do. Banks like ABN Amro, Barclays, Credit Suisse, Lloyds and ING had all reached major settlements for admitting to facilitating transactions and engaging in money laundering for clients in Cuba, Iran, Libya, Myanmar and Sudan.[14]

As executives from HSBC appeared in the U.S. Senate, the bank’s head of compliance since 2002, David Bagley, resigned as he testified before the committee, commenting, “Despite the best efforts and intentions of many dedicated professionals, HSBC has fallen short of our own expectations and the expectations of our regulators.”[15]

As Ed Vulliamy reported in the Observer, in May of 2012, a poor black man named Edward Dorsey Sr. was convicted of peddling 5.5 grams of crack cocaine in Washington D.C. and was given 10 years in jail. Meanwhile, just across the river from where Dorsey had committed his crime, executives from HSBC admitted before the U.S. Senate that they laundered billions in drug money, just as Wachovia had admitted to the previous year, with no one going to prison.[16] The lesson from this is clear: if you are poor, black, and are caught with a couple grams of crack-cocaine, you can expect to go to prison for several years (or in this case, a decade); but if you are rich, white, own a bank, and are caught laundering billions of dollars (or hundreds of billions of dollars) in drug money, you will be fined (but not enough to make such practices unprofitable), and may have to resign. Too big to fail is simply another way of saying “too big to jail.”

Of course, it’s not fair to put all the blame for international drug money-laundering on the shoulders of HSBC and Wachovia, as Bloombergreported, Mexican drug cartels also funneled money through the Bank of America and even the banking branch of American Express, Banco Santander, and Citigroup.[17]

Even the FBI has accused Bank of America of laundering Mexican drug cartel funds.[18] But it’s not just drug money that banks launder; all sorts of illicit funds are laundered through major banks, many of which have been fined or are now being investigated for their criminal activities, including JPMorgan, Standard Chartered, Credit Suisse, Lloyds, Barclays, ING, and the Royal Bank of Scotland, among others.[19]

Another major Swiss bank, UBS, has been very consistent in committing fraud and engaging in various conspiracies, a great deal of which was committed against Americans, though the bank was given “conditional immunity” from the U.S. Department of Justice.[20]

Financial Fraud and the ‘Get Out of Jail Free Card’

The major banks of the world have been caught in conspiracies of ripping off small towns and cities across the United States, which allowed banks like JPMorgan Chase, GE Capital, UBS, Bank of America, Lehman Brothers, Wachovia, Bear Stearns, and others, to steal billions of dollars from schools, hospitals, libraries, and nursing homes from “virtually every state, district and territory in the United States,” according to a court settlement on the issue.

The theft was done through the manipulation of the public bidding process, something that the Mafia has become experts in with regards to garbage and construction industry contracts. In short, the banking system actually functions like a Mafia cartel system, not to mention, taking money from the Mafia and cartels themselves.[21]

Banks like JP Morgan Chase and Goldman Sachs engaged in bribery, fraud, and conspiracies which resulted in the bankruptcy of counties all across the United States.[22] Still, they continue to be ‘respected’ by the political class which refuses to punish them for their criminal activity, and instead, rewards them with bailouts and follows their instructions for policy.

Over the summer of 2012, another major banking scandal hit the headlines, regarding the manipulation of the London inter-bank lending rate known as the Libor. The Libor rate, explained the Economist, “determines the prices that people and corporations around the world pay for loans or receive for their savings,” as it is used as a benchmark for establishing payments on an $800 trillion derivatives market, covering everything from interest rate derivatives to mortgages.

Essentially, the Libor is the interest rate at which banks lend to each other on the short term, and is established through an “honour system” of where 18 major banks report their daily rates, from which an average is calculated. That average becomes the Libor rate, and reverberates throughout the entire global economy, setting a benchmark for a massive amount of transactions in the global derivatives market. Whereas the derivatives market is a massive casino of unregulated speculation, the Libor scandal revealed the cartel that owns the casino.

The scandal began with Barclays, a 300-year old bank in Britain, revealing that several employees had been involved in rigging the Libor to suit their own needs. More banks quickly became implemented, and countries all over the world began opening investigations into this scandal and the role their own banks may have played in it. By early July, as many as 20 major banks were named in various investigations or lawsuits related to the rigging of the Libor.[23]

Among the major global banks which are being investigated by U.S. prosecutors are Barclays, Deutsche Bank, Citigroup, JPMorgan Chase, Royal Bank of Scotland, HSBC, UBS, Bank of America, Bank of Tokyo Mitsubishi, Credit Suisse, Lloyds Banking Group, Rabobank, Royal Bank of Canada, Société Générale, and others. Prosecutors in the U.S., U.K., Canada and Japan were investigating collusion between the major banks on the manipulation of the Libor. In June of 2012, Barclays paid a fine to US and UK authorities, admitting its culpability in the rigging with a $450 million settlement.[24]

With information and documents pouring out, implicating further banks and institutions in the scandal, a general consensus was emerging that the Libor had been manipulated since at least 2005, though, as one former Morgan Stanley trader wrote in the Financial Times, the rigging had began as early as 1991, if not before.

The British Banker’s Association was responsible for setting the Libor rate by polling roughly 18 major banks on their highest and lowest rates daily. Thus, rigging by one bank would require the co-operating of at least nine other banks in purposely manipulating their rates in order to have any effect upon the Libor. Douglas Keenan, the former Morgan Stanley trader, wrote that, “it seems the misreporting of Libor rates may have been common practice since at least 1991.”[25]

Rolf Majcen, the head of a hedge fund called FTC Capital told Der Spiegel that, “the Libor manipulation is presumably the biggest financial scandal ever.” As regulators were using words like “organized fraud” and “banksters” to describe the growing scandal, it was becoming common to refer to the major banks as functioning like a “cartel” or “mafia.”[26]

The CEO of Barclays, Bob Diamond, resigned in disgrace, as did Marcus Agius, the Chairman of Barclays (who also serves as a director on the board of BBC, and is married into the Rothschild banking dynasty). The “cartel” manipulated the Libor for a great number of reasons, among them, to appear to be in better health by rigging their credit ratings upwards.[27]

The Business Insider referred to the Libor rigging as a “criminal conspiracy” from the start, essentially designed to promote manipulation as the Libor was determined by an “honor system” for banks to properly report their rates.[28] Imagine giving a pile of credit cards to a group of credit card fraud convicts and establishing an “ honor system.” Could one truly be surprised if it didn’t work out? Well, the Libor scandal is effectively based upon the same logic, except that the repercussions are global in scope.

Traders at the Royal Bank of Scotland referenced, in internal emails, to their participation in operating a “cartel” that made “amazing” amounts of money through the manipulation of interest rates, with a former senior trader at RBS writing that managers at the bank had “condoned collusion.” The same trader, who was later hung out to dry by RBS as a scapegoat, wrote in an email to a trader at Deutsche Bank that, “It is a cartel now in London,” where the Libor is established.[29]

The cartel, however, did not simply include the major banks, but also required the cooperation or at least negligence of regulators and central banks. Documents released by the Federal Reserve Bank of New York and the Bank of England show correspondence between then-President of the NY Fed Timothy Geithner (who is now Obama’s Treasury Secretary) and Bank of England Governor Mervyn King discussing how Barclays was manipulating the Libor rates during the 2008 financial crisis.

While the NY Fed corresponded with both the Bank of England and Barclays itself on the acknowledgment of interest rate manipulation, it never told the bank to stop the rigging practice. An official at Barclays even informed the NY Fed in 2008 that the bank was under-reporting the rate at which it could borrow from other banks so that Barclays could “avoid the stigma” of appearing to be weaker than its peers, adding that “other participating banks were also under-reporting their Libor submissions.”[30]

A Barclays employee told the New York Fed in an April 2008 phone call that, “We know that we’re not posting um, an honest Libor… and yet we are doing it, because, um, if we didn’t do it, it draws, um, unwanted attention on ourselves.” The New York Fed official replied: “You have to accept it… I understand. Despite it’s against what you would like to do. I understand completely.” Several months later, a Barclays employee told a New York Fed official that the Libor rates were still “absolute rubbish.”[31]

While the New York Fed expressed sympathy for the poor and helpless global banks need to engage in fraud and interest rate manipulation in order to lie and appear to be healthier than it was, the Bank of England went a step further, when Paul Tucker, the head of markets at the BoE wrote a note to Barclays CEO Bob Diamond in 2008 suggesting that Barclays lower its Libor rate, thus encouraging the rigging itself, instead of just expressing sympathy for the “need” to commit fraud.[32]

The main British banking lobby group, the British Banker’s Association (BBA), which was responsible for overseeing the Libor rate process (no conflict of interest there, right?), was, in late September of 2012, stripped of its right to oversee the Libor, to be replaced with a formal regulator. The BBA’s “oversight” of Libor dates back to 1984, when the City of London (Britain’s Wall Street) had begun an experiment to establish a new way of setting interest rates, asking the banking lobby group to set the rate in 1986 when the Libor began.[33]

The BBA’s Foreign Exchange and Money Markets Committee is responsible for setting the Libor, and they meet every two months to review the process in secret without any minutes being published, and even the membership of the Committee is kept a secret. Spokespersons at Credit Suisse, Royal Bank of Scotland, and UBS refused to comment on whether they had any representatives on the committee, while Barclays, Deutsche Bank, HSBC, Bank of America and Citigroup didn’t even respond to emailed inquiries about their involvement with the committee, as Bloomberg reported.

A British regulator, in the understatement of the century, stated, “There is an apparent lack of transparency,” adding that the BBA’s committee “ doesn’t appear to be sufficiently open and transparent to provide the necessary degree of accountability to firms and markets with a direct interest in being assured of the integrity of Libor.”[34] When the fox guards the henhouse, it takes a great deal of stupidity to be “surprised” when some hens go missing.

In an April 2008 meeting with officials at the Bank of England, Angela Knight, the head of the British Banker’s Association, suggested that the BBA perhaps should no longer be responsible for oversight of “the world’s most important number,” which had become too big for the BBA to manage. No one at the meeting cared enough to do anything about it, however, and so nothing changed.[35]

Where was the incentive to change the system, after all? Yes, massive fraud was taking place, and this was well understood by the banks committing it, as well as the regulators and central banks overseeing it. But on the plus side, everyone was getting away with it. So indeed, there was no incentive to change the system.

From the point of view of those managing it, the Libor was functioning as it should. A cartel was established because a cartel was desired. The fact that it was all highly illegal, fraudulent, and immoral was – and is – beside the point. Mexican drug cartels do not worry about the legality of their operations because they are, by definition, illegal. They worry simply about getting away with their illegal operations. The same can be said for the global banking cartel. So long as they get away with criminal cartel operations, there is no incentive to change the system, and instead, there is only an incentive to expand and further entrench the cartel’s operations.

Canada’s antitrust regulator began an investigation into the “international cartel” of banks rigging the Libor, focusing on the role played by banks such as JP Morgan Chase, Royal bank of Scotland, Deutsche Bank, HSBC, and Citigroup, among others. A law professor at the University of Toronto who was hired by the regulator to study the case commented that, “international cartels are of a significant concern for the Canadian economy.”[36] We have truly reached an impressive circumstance when the actual regulators of the banks refer to the banking system as an “international cartel.”

A lawsuit was being filed by several homeowners in the U.S. who were attempting to sue some of the world’s largest banks for fraud, as the Libor manipulation sparked increases on their mortgages, resulting in illegal profits for banks. The class action lawsuit filed in New York in October of 2012 accused banks such as Bank of America, Citigroup, Barclays, UBS, JPMorgan Chase, Deutsche Bank and others of fraud over a period of ten years.[37]

For U.S. states and municipalities that bought interest-rate swaps before the financial crisis, the Libor rigging was poised to more than double their losses. Banks had sold roughly $500 billion of interest-rate swaps (in the derivatives market) to municipalities before the financial crisis, with roughly $200 billion of those swaps tied to the Libor. As one legal expert who studies derivatives told Bloomberg, “Almost all interest-rate swaps begin with Libor.” This prompted several states in the U.S. to begin their own investigations into how the Libor-rigging may have negatively affected them.[38]

Punishing the World’s Population into Poverty: Life Under the Global Cartel

While the global cartel of criminal banks rig rates, launder drug money, fund terrorists, engage in bribery, fraud and demand multi-trillion dollar bailouts from our governments (effectively selling their bad debts to the public), and then give themselves massive bonuses, they are also demanding – through what is called “market discipline” – that our governments deal with our debts by undertaking policies of “austerity” and “structural reform,” which are euphemisms for impoverishment and exploitation.

Thus, after the cartel helped create a massive financial crisis, and after our governments rewarded them for their criminal activity, the cartel now demands that our governments punish their populations into poverty and open their economies, resources and labour up for cheap and easy exploitation by banks and multinational corporations.

This is referred to as the “solution” for getting out of the ‘Great Recession,’ and which is sure to great a Great Depression. Greece is now two and a half years into its “austerity” and “adjustment” reforms, with its debt growing as a result, poverty exploding, misery spreading, health, education, welfare rapidly declining, suicide rates and hunger increasing, as the Greek people are subjected to a program of “social genocide.” Market discipline demands austerity and adjustment, or in other words, class warfare creates poverty and exploitation.[39]

Countries that refuse to implement programs of austerity and adjustment are subjected to financial terrorism by the “international cartel,” as financial markets engage in “market discipline” by using the derivatives market to speculate against that particular country’s ability to pay its interest or debt, thus making its credit ratings decrease and borrowing rates increase, plunging the country into a deeper crisis.

In any other scenario, this is called terrorism or in the very least, extortion: do what I say or I will punish you and destroy you. This is what former U.S. Treasury official Roger Altman referred to in the Financial Times as the new “global supra-government” who can “force austerity, banking bail-outs and other major policy changes,” and thus, “have become the most powerful force on earth.”[40] Countries, regional, and international organizations all bow down to the dictates of the “international cartel” of the “global supra-government,” and so countries like Greece, Spain, Ireland, Italy, and Portugal, organizations like the European Union, European Central Bank, powerful states like Germany, France, Britain, and the U.S., and other international organizations like the IMF, Bank for International Settlements, and the OECD all demand and implement austerity measures and structural “reforms.”

Either they follow the orders of the “cartel” – which we commonly refer to as the “invisible hand” of the “free market – or they directly challenge “the most powerful force on earth.” In the global economy, a small country like Greece standing up to the “global supra-government” is much like a small Greek restaurant trying to stand up to the city Mafia.

In the U.S., states that were defrauded in the billions of dollars by the cartel, and took on major debts as a result, are now the harbingers of austerity in America. Beginning in 2010, roughly 20 states across the U.S. began implementing austerity measures, and have been doing much worse economically as a result (the predicted effect of austerity).

Even the institutions which are the most militant in demanding austerity measures, such as the European Union and the IMF, have acknowledged in recent reports that countries which pursue austerity to supposedly reduce their debts end up getting much larger debts as a result, and that such measures are actually extremely damaging to economies.

This is not news, of course, since there is a rather large sample of data from the past 30 years of forced austerity and adjustment measures across Africa, Asia, and Latin America (at the behest of the IMF, World Bank, western governments, and of course, the “cartel”), which show quite clearly the effect that austerity and adjustment have in rapidly expanding poverty and facilitating exploitation.

As austerity is hitting several U.S. states, jobs are lost and poverty increases with debt, standards of living decline and the recession deepens into a depression. The population is essentially punished for the crimes of the global cartel, while public employees, pensioners, welfare recipients, teachers and workers get the blame.[41]

In late October of 2012, the CEOs of 80 major corporations and banks in the United States banded together (as any well functioning cartel does) in order to pressure Congress, regardless of who the next President is, to pursue an agenda of harsh austerity measures and structural reforms.

In a statement to Congress signed by the 80 CEOs, the American branch of the global cartel (its most significant branch), demanded that policies be enacted immediately, though implemented gradually, “to give Americans time to prepare for the changes in the federal budget.” Among the demands are to reform Medicare and Medicaid, healthcare, Social Security, increase taxes, and generally reduce spending.

All of this amounts to a large federal program of austerity, to cut social spending and increase taxes on the population, thus impoverishing the population. This, in the words of the letter to Congress, “must be bipartisan and reforms to all areas of the budget should be included.”[42] Among the signatories to the letter were the CEOs of AT&T, Bank of America, BlackRock, Boeing, Caterpillar, Dow Chemical Company, General Electric, Goldman Sachs, JPMorgan Chase, Merck, Microsoft, Motorola, Time Warner, and Verizon, among many others.[43]

This followed roughly one week after a group of 15 major global bank CEOs sent a letter to President Obama and the U.S. Congress lecturing the U.S. political class on “moral authority,” giving their formal orders to the U.S. political establishment, that regardless of Democratic or Republican administrations, they are losing patience with the democratic apparatus of the state, and warned:

“The solvency, productive capacity, and stability of the United States, as well as its moral authority as a global leader, require that its fiscal challenges be credibly met.”

Among the signatories to the letter were the CEOs of Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo. The Wall Street Journal, reporting on this letter, commented that even for “a dying democracy, it’s embarrassing enough to see bankers telling our government what to do,” but in this letter, “we even see foreign bankers telling our government what to do,” as other CEOs of the global cartel signed the letter, from banks such as UBS, Credit Suisse, and Deutsche Bank.

The “consequences of inaction” on the U.S. debt, read the letter, “would be very grave.” In other words, the U.S. political class has received a threat from the global cartel that it is now time to implement austerity and adjustment measures, or to face the consequences of financial terrorism.[44]

Hiding the Loot: The Offshore Economy in the Age of the Global Plutonomy

While people are being forced into poverty to pay off the bad debts of the “super-entity” global banking cartel of drug-money laundering banks which make up the “global supra-government,” the richest people in the world have been hiding their wealth in offshore tax havens, and of course, with the help of those same banks.

James Henry, a former chief economist at McKinsey, a major global consultancy, published a major report on tax havens in July of 2012 for the Tax Justice Network, compiling data from the Bank for International Settlements (BIS), the IMF and other private sector entities which revealed that the world’s superrich have hidden between $21 and $32trillion offshore to avoid taxation. Henry stated:

“This offshore economy is large enough to have a major impact on estimates of inequality of wealth and income; on estimates of national income and debt ratios; and – most importantly – to have very significant negative impacts on the domestic tax bases of ‘source’ countries.”

John Christensen of the Tax Justice Network commented that, “Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people… This new data shows the exact opposite has happened: for three decades extraordinary wealth has been cascading into the offshore accounts of a tiny number of super-rich.” Roughly 92,000 of the super-rich, globally, hold at least $10 trillion in offshore wealth. In many cases, the worth of these offshore assets far exceeds the debts of the countries that they flow from, the same debts that are used to keep these countries and their populations in poverty and a constant state of exploitation.[45]

The estimated total of hidden offshore wealth amounts to more than the combined GDP of the United States and Japan, hidden in secretive financial jurisdictions like Switzerland and the Cayman Islands. The process of hiding this wealth is largely facilitated by the major global banks, which compete with one another to attract the assets of the world’s super-rich.

James Henry explained that the wealth of the world’s super-rich is “protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy;” more of that “free market” magic.

The top ten banks in the world, which include UBS and Credit Suisse (based in Switzerland) as well as Goldman Sachs in the United States, collectively managed roughly $6.4 trillion in offshore accounts for 2010 alone. As the report revealed, “for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world,” debts which are largely illegitimate as it stands.

This trend is exacerbated in the oil-rich states of the world such as Nigeria, Russia, and Saudi Arabia. The report stated: “The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments.”

With roughly half of the world’s offshore wealth belonging to the top 92,000 richest individuals, they represent the top 0.001%, a far more extreme global disparity than that which is invoked by the Occupy movement’s 1% paradigm. Henry commented: “The very existence of the global offshore industry, and the tax-free status of the enormous sums invested by their wealthy clients, is predicated on secrecy.”[46] Remember, “free market” means that those who own the market (the global cartel), and free to do anything they please.

A 2005 report from Citigroup coined the term “plutonomy,” to describe countries “where economic growth is powered by and largely consumed by the wealthy few,” and specifically identified the U.K., Canada, Australia, and the United States as four plutonomies. Keeping in mind that the report was published three years before the onset of the financial crisis in 2008, the Citigroup report stated:

“Asset booms, a rising profit share and favorable treatment by market-friendly governments have allowed the rich to prosper and become a greater share of the economy in the plutonomy countries,” and that, “the rich are in great shape, financially.”[47]

It’s only everyone else that is suffering, which by definition, is a “well functioning” economy. As the Federal Reserve reported, “the nation’s top 1% of households own more than half the nation’s stocks,” and “they also control more than $16 trillion in wealth — more than the bottom 90%.” The term ‘Plutonomy’ is specifically used to “describe a country that is defined by massive income and wealth inequality,” and that they have three basic characteristics, according to the Citigroup report:

1. They are all created by “disruptive technology-driven productivity gains, creative financial innovation, capitalist friendly cooperative governments, immigrants…the rule of law and patenting inventions. Often these wealth waves involve great complexity exploited best by the rich and educated of the time.”

2. There is no “average” consumer in Plutonomies. There is only the rich “and everyone else.” The rich account for a disproportionate chunk of the economy, while the non-rich account for “surprisingly small bites of the national pie.” [Citigroup strategist Ajay] Kapur estimates that in 2005, the richest 20% may have been responsible for 60% of total spending.

3. Plutonomies are likely to grow in the future, fed by capitalist-friendly governments, more technology-driven productivity and globalization.[48]

Kapur, who authored the Citigroup report, stated that there were also risks to the Plutonomy, “including war, inflation, financial crises, the end of the technological revolution and populist political pressure,” yet, “the rich are likely to keep getting even richer, and enjoy an even greater share of the wealth pie over the coming years.”[49]

In February of 2011, Ajay Kapur, the author of the Citigroup report who is now with Deutsche Bank, gave an interview in which he explained that, “the world economy is even more dependent on the spending and consumption of the rich,” and that, “Plutonomist consumption is almost 10 times as volatile that of the average consumer.” He further explained that increased debt levels are a sign of plutonomies:

We have an economy today where a large fraction of the population doesn’t pay federal income taxes and, because of demand for entitlements, we have a system of massive representation without taxation. On the other hand, you have plutonomists who protect their turf and the taxation amounts are not enough to pay for everyone’s demand. So I’ve come to the conclusion that budget deficits are biased toward getting bigger and bigger. Budget deficits are going to become a manifestation of a plutonomy.[50]

The plutonomy is largely characterized by a lack of a consuming and vibrant middle class. This is a trend that has been accelerating for several decades, particularly in North America and Britain, where the middle class population is heavily indebted. The middle class has existed as a consumer class, keeping the lower class submissive, and keeping the upper class secure and wealthy by consuming their products, produced with the labour of the lower class.

The most advanced plutonomies in the world are the most advanced industrial and technological nations, where the major corporations and banks are highly subsidized and protected by the state, as is typical for a state-capitalist society. While the industrial and rich northern state-capitalist societies were able to industrialize and grow rich through highly protectionist measures, the poor south of the world (Africa, Asia, Latin America) were subjected to “free market” policies which opened up their economies to be exploited and plundered by the rich northern nations. No country has ever become an industrial power by implementing free market policies, but rather, by doing the exact opposite: heavy subsidies and state protection for key industries, technologies, and corporate entities.

While the ‘Third World’ was forced to implement “free market” policies in order to get loans, the predictable result took place: mass impoverishment and exploitation. The ‘Third World’ states were run by tiny elites who dominated the countries politically and economically, and who hid their stolen wealth in foreign banks and offshore tax havens.

Now, in the midst of the global economic crisis which has been ravaging the world for the past four years, the rich northern countries are themselves implementing the same “free market” policies, though designed to subject their populations to “market discipline” while maintaining – and in fact increasing – the protectionist and subsidized policies for the multinational corporations and banks.

It is important to note that “market discipline” and actual “free market” policies are exclusively designed for the general population, not the elite. Workers, students, the elderly, the poor and the many are to be subjected to “market discipline” while the banks and multinational corporations continue to be heavily subsidized (as the largest national welfare recipients) and protected by the state.

Thus, just as our banks and corporations have plundered the Third World with rapacious delight over the past three decades, now they will be able to do the same to the populations of the rich nations themselves. The state will transform, as it did in the ‘Third World’, into a typically totalitarian institution which is responsible for protecting the super-rich and controlling, oppressing, or, in extreme cases of resistance, eliminating the ‘problem populations’ (i.e., the people).

Welcome to the global plutonomy in the age of austerity, the result of living under – and tolerating – a global “super-entity” corporate-financial cartel. Truly, one must pause and, if only for a moment, appreciate the ability of this global cartel to function so effectively in spite of its blatant criminal activities, and face almost absolutely no repercussions. Something truly is wrong with a society when a poor black man caught with 5 grams of crack-cocaine goes to prison for ten years, while rich white bank executives admit to laundering billions of dollars in drug money and receive only a fine and a slap on the wrist (maybe).

The lesson is clear: if you are a thief, steal by the billions or trillions, and then no one can do anything about it. If you are in the drug trade: handle only billions (or hundreds of billions) in drug money, and then you will get away with it. If you don’t want to pay taxes, be a member of the top o.oo1% of the world’s super-rich and hide your billions in offshore tax-free accounts. If you want more, create a global economic crisis, demand to be saved by the state to the tune of tens of trillions of dollars, and then, tell the state to punish their populations into poverty in order to pay for your mistakes.

In other words, if you want to indulge your criminal fantasies, lie and steal, profit from death and drugs, dominate and demand, be king and command, become the highly-functioning socially-acceptable sociopath you always knew you could be… think big. Think BANK. Serial killers, bank robbers and drug dealers go to jail; bankers get bailouts and get an unlimited insurance policy called “too big to fail.”

Notes

[1] Andy Coghlan and Debora MacKenzie, “Revealed – the capitalist network that runs the world,” New Scientist, 24 October 2011:

http://www.newscientist.com/article/mg21228354.500-revealed–the-capitalist-network-that-runs-the-world.html

[2] Ibid.

[3] Ibid.

[4] David J. Lynch, “Banks Seen Dangerous Defying Obama’s Too-Big-to-Fail Move,” Bloomberg, 16 April 2012:

http://www.bloomberg.com/news/2012-04-16/obama-bid-to-end-too-big-to-fail-undercut-as-banks-grow.html

[5] Dean Baker, “The eurozone crisis is not about market discipline,” Al-Jazeera, 18 December 2011:

http://www.aljazeera.com/indepth/opinion/2011/12/2011121874651469307.html

[6] Roger Altman, “We need not fret over omnipotent markets,” The Financial Times, 1 December 2011:

http://www.ft.com/intl/cms/s/0/890161ac-1b69-11e1-85f8-00144feabdc0.html#axzz1fnNHC8YP

[7] Roger Altman, “We need not fret over omnipotent markets,” The Financial Times, 1 December 2011:

http://www.ft.com/intl/cms/s/0/890161ac-1b69-11e1-85f8-00144feabdc0.html#axzz1fnNHC8YP

[8] Rajeev Syal, “Drug money saved banks in global crisis, claims UN advisor,” The Observer, 13 December 2009:

http://www.guardian.co.uk/global/2009/dec/13/drug-money-banks-saved-un-cfief-claims

[9] Ed Vulliamy, “How a big US bank laundered billions from Mexico’s murderous drug gangs,” The Observer, 3 April 2011:http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

[10] Ibid.

[11] Ed Vulliamy, “Global banks are the financial services wing of the drug cartels,” The Observer, 21 July 2012:

http://www.guardian.co.uk/world/2012/jul/21/drug-cartels-banks-hsbc-money-laundering

[12] John Paul Rathbone, “Money laundering: Taken to the cleaners,” 20 July 2012:

http://www.ft.com/intl/cms/s/0/702a64a6-d25e-11e1-ac21-00144feabdc0.html#axzz2ALt54B7K

[13] Agustino Fontevecchia, “HSBC Helped Terrorists, Iran, Mexican Drug Cartels Launder Money, Senate Report Says,” Forbes, 16 July 2012:

http://www.forbes.com/sites/afontevecchia/2012/07/16/hsbc-helped-terrorists-iran-mexican-drug-cartels-launder-money-senate-report-says/

[14] Roberto Saviano, “Where the Mob Keeps its Money,” The New York Times, 25 August 2012:

http://www.nytimes.com/2012/08/26/opinion/sunday/where-the-mob-keeps-its-money.html?pagewanted=all&_r=0

[15] Dominic Rushe, “HSBC ‘sorry’ for aiding Mexican drugs lords, rogue states and terrorists,” The Guardian, 17 July 2012:

http://www.guardian.co.uk/business/2012/jul/17/hsbc-executive-resigns-senate

[16] Ed Vulliamy, “Global banks are the financial services wing of the drug cartels,” The Observer, 21 July 2012:

http://www.guardian.co.uk/world/2012/jul/21/drug-cartels-banks-hsbc-money-laundering

[17] Michael Smith, “Banks Financing Mexico Gangs Admitted in Wells Fargo Deal,” Bloomberg, 29 June 2010:

http://www.bloomberg.com/news/2010-06-29/banks-financing-mexico-s-drug-cartels-admitted-in-wells-fargo-s-u-s-deal.html

[18] Alexander Eichler, “Mexican Drug Cartel Laundered Money Through BofA, FBI Alleges,” The Huffington Post, 9 June 2012:

http://www.huffingtonpost.com/2012/07/09/los-zetas-laundered-money-bank-america_n_1658943.html

[19] Jessica Silver-Greenberg and Edward Wyatt, “In Laundering Case, a Lax Banking Law Obscured Money Flow,” The New York Times, 8 August 2012:

http://www.nytimes.com/2012/08/09/business/how-a-lax-banking-law-obscured-money-flow.html?pagewanted=all;

Jessica Silver-Greenberg and Ben Protess, “

Money-Laundering Inquiry Is Said to Aim at U.S. Banks,” The New York Times, 14 September 2012:

http://www.nytimes.com/2012/09/15/business/money-laundering-inquiry-said-to-target-us-banks.html?pagewanted=all&_r=0

[20] James B. Stewart, “For UBS, a Record of Averting Prosecution,” The New York Times, 20 July 2012:

http://www.nytimes.com/2012/07/21/business/ubss-track-record-of-averting-prosecution-common-sense.html?pagewanted=all

[21] Matt Taibbi, “The Scam Wall Street Learned From the Mafia,” Rolling Stone, 21 June 2012:

http://www.rollingstone.com/politics/news/the-scam-wall-street-learned-from-the-mafia-20120620

[22] William D. Cohan, “How Wall Street Scams Counties Into Bankruptcy,” Bloomberg, 1 July 2012:

http://www.bloomberg.com/news/2012-07-01/how-wall-street-scams-counties-into-bankruptcy.html

[23] “The Libor Scandal: The Rotten Heart of Finance,” The Economist, 7 July 2012:

http://www.economist.com/node/21558281

[24] Shahien Nasiripour, “Nine more banks added to Libor probe,” The Financial Times, 26 October 2012:

http://www.ft.com/intl/cms/s/0/6f4e7960-1f1a-11e2-be82-00144feabdc0.html#axzz2ARAog5NE

[25] Douglas Keenan, “My thwarted attempt to tell of Libor shenanigans,” The Financial Times, 26 July 2012:

http://www.ft.com/intl/cms/s/0/dc5f49c2-d67b-11e1-ba60-00144feabdc0.html#axzz2ARAog5NE

[26] “The Cartel: Behind the Scenes in the Libor Interest Rate Scandal,” Der Spiegel, 1 August 2012:

http://www.spiegel.de/international/business/the-libor-scandal-could-cost-leading-global-banks-billions-a-847453.html

[27] Matt Taibbi, “Why is Nobody Freaking Out About the LIBOR Banking Scandal?” Rolling Stone, 3 July 2012:

http://www.rollingstone.com/politics/blogs/taibblog/why-is-nobody-freaking-out-about-the-libor-banking-scandal-20120703

[28] Raúl Ilargi Meijer, “LIBOR Was A Criminal Conspiracy From The Start,” The Business Insider, 11 July 2012:

http://www.businessinsider.com/libor-was-a-criminal-conspiracy-from-the-start-2012-7

[29] Steven Swinford and Harry Wilson, “RBS traders boasted of Libor ‘cartel’,” The Telegraph, 26 September 2012:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9568087/RBS-traders-boasted-of-Libor-cartel.html

[30] Jill Treanor and Dominic Rushe, “Timothy Geithner and Mervyn King discussed Libor worries in 2008,” The Guardian, 13 July 2012:

http://www.guardian.co.uk/business/2012/jul/13/tim-geithner-mervyn-king-libor

[31] Mark Gongloff, “New York Fed’s Libor Documents Reveal Cozy Relationship Between Regulators, Banks,” The Huffington Post, 13 July 2012:

http://www.huffingtonpost.com/2012/07/13/new-york-fed-libor-documents_n_1671524.html

[32] Chris Giles, “Libor scandal puts BoE in line of fire,” The Financial Times, 17 July 2012:

http://www.ft.com/intl/cms/s/0/68605a86-d02a-11e1-bcaa-00144feabdc0.html#axzz2ARAog5NE

[33] Jill Treanor, “British Bankers’ Association to be stripped of Libor rate-setting role,” The Guardian, 25 September 2012:

http://www.guardian.co.uk/business/2012/sep/25/bba-libor-setting-role-stripped-banks

[34] Liam Vaughan, “Secret Libor Committee Clings to Anonymity Following Scandal,” Bloomberg, 21 August 2012:

http://www.bloomberg.com/news/2012-08-20/secret-libor-committee-clings-to-anonymity-after-rigging-scandal.html

[35] David Enrich and Max Colchester, “Before Scandal, Clash Over Control of Libor,” The Wall Street Journal, 11 September 2012:

http://online.wsj.com/article/SB10000872396390443847404577631404235329424.html

[36] Andrew Mayeda, “Canada Regulator Says Has Power to Probe Libor ‘Cartel’,” Bloomberg, 22 June 2012:

http://www.bloomberg.com/news/2012-06-22/canada-regulator-says-has-power-to-probe-libor-cartel-.html

[37] Halah Touryalai, “Banks Rigged Libor To Inflate Adjustable-Rate Mortgages: Lawsuit,” Forbes, 15 October 2012:

http://www.forbes.com/sites/halahtouryalai/2012/10/15/banks-rigged-libor-to-inflate-adjustable-rate-mortgages-lawsuit/

[38] Darrell Preston, “Rigged Libor Hits States-Localities With $6 Billion: Muni Credit,” Bloomberg, 9 October 2012:

http://www.bloomberg.com/news/2012-10-09/rigged-libor-hits-states-localities-with-6-billion-muni-credit.html

[39] Andrew Gavin Marshall, “Austerity, Adjustment, and Social Genocide: Political Language and theEuropean Debt Crisis,” Andrewgavinmarshall.com, 24 July 2012:

http://andrewgavinmarshall.com/2012/07/24/austerity-adjustment-and-social-genocide-political-language-and-the-european-debt-crisis/

[40] Roger Altman, “We need not fret over omnipotent markets,” The Financial Times, 1 December 2011:

http://www.ft.com/intl/cms/s/0/890161ac-1b69-11e1-85f8-00144feabdc0.html#axzz1fnNHC8YP

[41] Ben Polak and Peter K. Schott, America’s Hidden Austerity Program,” The New York Times, 11 June 2012:

http://economix.blogs.nytimes.com/2012/06/11/americas-hidden-austerity-program/;

Jason Cherkis, “A Thousand Cuts: Austerity Measures Devastate Communities Around The World,” The Huffington Post, 17 July 2012:

http://www.huffingtonpost.com/2012/07/12/austerity-measures-a-thousand-cuts_n_1666309.html;

Editorial, “The Austerity Trap,” The New York Times, 23 October 2012:

http://www.nytimes.com/2012/10/24/opinion/the-austerity-trap.html?_r=0;

Derek Thompson, “American Austerity: Why the States Cutting Spending Are Doing Worse,” The Atlantic, 21 June 2012:

http://www.theatlantic.com/business/archive/2012/06/american-austerity-why-the-states-cutting-spending-are-doing-worse/258825/

[42] “CEOs Deficit Manifesto,” The Wall Street Journal, 25 October 2012:

http://online.wsj.com/article/SB10001424052970203937004578076254182569318.html?mod=googlenews_wsj

[43] “Executives Who Signed the Fix the Debt Declaration,” The Wall Street Journal, 25 October 2012:

http://online.wsj.com/article/SB10001424052970203897404578077251928040508.html

[44] Al Lewis, “Bankers Face the Abyss,” The Wall Street Journal, 21 October 2012:

http://online.wsj.com/article/SB10000872396390444734804578064840879262594.html?mod=googlenews_wsj

[45] Heather Stewart, “Wealth doesn’t trickle down – it just floods offshore, research reveals,” The Observer, 21 July 2012:

http://www.guardian.co.uk/business/2012/jul/21/offshore-wealth-global-economy-tax-havens

[46] Heather Stewart, “£13tn hoard hidden from taxman by global elite,” The Observer, 21 July 2012:

http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy

[47] We’re living in a plutonomy, The Telegraph, 2 April 2006:

http://www.telegraph.co.uk/finance/2935809/Were-living-in-a-plutonomy.html

[48] Robert Frank, Plutonomics, The Wall Street Journal, 8 January 2007:

http://blogs.wsj.com/wealth/2007/01/08/plutonomics/

[49] Ibid.

[50] Gus Lubin, Deutsche Bank Says The ‘Global Plutonomy’ Is Stronger Than Ever, And That Means 10X More Volatility, Business Insider, 17 February 2011:

http://www.businessinsider.com/ajay-kapur-plutonomy-2011-2


What Now? You Ask, Political Insurgency!

11/15/2012

http://www.westernjournalism.com/what-now-you-ask-political-insurgency/

By Lawrence Sellin

Now that our elections have proven to be a sham and our political system has been shown to be hopelessly corrupt, Americans who believe in the Constitution and the rule of law must now choose either to succumb or to fight.

The Obama regime, the Democrat Party, and the mainstream media are the enemies of honest government. You cannot collaborate or compromise with the enemy. Continuous active and passive measures must now be taken to oppose, undermine, and destroy them as viable political entities.

Events leading up to and during the 2012 election should leave no doubt in the minds of anyone that the Obama regime is antithetical to the principles upon which the United States was founded, that voter fraud is now considered an integral component of the Democrat campaign strategy, and that the mainstream media will censor or manipulate the news in order to promote the Democrat political agenda at the expense of the well-being of the country.

Ordinary Americans need to recognize that there is no longer representative government in the United States. Once elected, members of Congress serve only the interests of themselves, their party, and their wealthy donors. Petitioning members of Congress on important issues is an exercise in futility.

The federal government is now under the control of the enemy, which must be vigorously opposed. Think of it as a large, wild, and dangerous animal, which can be subdued only through starvation and exhaustion. Starve it of taxes by maximizing individual and corporate tax deductions and tax credits. Engage in barter or other means via an underground economy. Vote against all local and state propositions to increase taxes. Exhaust the federal government administratively by legally applying for every possible government benefit, such as food stamps, student loans, maximum use of government-funded healthcare, and overwhelming federal agencies with a multitude of questions, requests, and complaints regarding its services.

The creation of Democrat Party-free zones is a bottom-up strategy of ever-expanding geographic areas. Without exception, Democrat politicians must be removed from positions of power. They should be challenged by politically independent candidates whose campaign should be tailored in whatever way necessary to defeat Democrats. If you live in an area dominated by the Democrat Party and cannot relocate, take all measures available to undermine and weaken the Democrat government to the point of political collapse.

Again, starting at a local level, all newspapers favoring the Democrats and all radio and TV stations affiliated with NBC, CBS, and ABC should be driven out of business. Their sponsors should be threatened economically, and these mainstream media outlets should be subjected to continuous public attack for biased reporting and sued whenever a legal argument can be made against them.

The Republican Party should be abandoned as a political vehicle capable of providing an effective opposition to the Obama regime, the Democrats, or the mainstream media. It is also a party of big government, which has become unresponsive and unaccountable to its constituency. One could attribute the basis of the Republican 2012 campaign as a diffident and ignorant hubris in the face of an unethical, if not an illegal and unyielding, assault by the Democrats and the media. In response to such a threat, timidity is something you dare not show.

The objective of the political insurgency is to restore the Constitution as the basis of our government, in particular the 10th Amendment, which states:

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.

That is, over the years, the federal government has seized powers over the American people that the Founders never intended it to have. The Obama regime is continuing to do so at an ever-increasing rate, robbing us of our personal freedom as it dismantles the Constitution.

It is time that we, the people of the United States, take back those powers, take back our government, and take back our liberty, one neighborhood at a time if necessary.
The Obama regime, the Democrats, and the mainstream media have declared political war on us. It is now time to take the fight directly to them, ruthlessly and relentlessly.

Lawrence Sellin, Ph.D. is a retired colonel with 29 years of service in the US Army Reserve and a veteran of Afghanistan and Iraq. Colonel Sellin is the author of “ Afghanistan and the Culture of Military Leadership“. He receives email at lawrence.sellin@gmail.com  KEEP READING BELOW

GOD-GIVEN RIGHTS, MAN-MADE ANTI-RIGHTS AND WHY “SAFETY NETS ARE IMMORAL

By Publius Huldah

It is the dogma of our time that proponents of government safety net programs hold the moral high ground. Accordingly, Democrats preen over their own “compassion”; and Republicans chime in that they too “believe in safety net programs”. But safety net programs are unconstitutional and immoral. They are unconstitutional because “charity” is not one of the enumerated powers of the federal government.[1]They are immoral because they are based on a fabricated system of man-made anti-rights which negate the Rights God gave us.

The Origin of Rights and the Purpose of Civil Government

The Declaration of Independence sets forth the Principles which were fleshed out – more or less perfectly – in Our Constitution. The key is the 2nd paragraph, which begins:

“We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rightsthat among these are Life, Liberty and the pursuit of Happiness. – That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, – That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it…” [emphasis added]

The Bible shows that God gave us a great many rights such as to earn, keep, and inherit private property; to defend ourselves; to worship God; and to live our lives free from meddling and interference as long as we observe the God-given Rights of others. But men are not angels. Evil men seek to take God given Rights away from others. Evil men seek to exercise power over others. That is why we need civil government – to restrain the wicked. Without civil government, we would be in anarchy, always defending ourselves from those who seek to do whatever they want withour lives, liberties, persons, and property[2] So! Rights come from God, and the purpose of civil government is to secure the rights God gave us.

Political Power is from The People!

Our Constitution was based on the radical Principle that The People are the original source of political power.Throughout history, political power has been seen to originate with the King. This is powerfully illustrated by King John I in the movie “Robin Hood” with Russell Crowe and Cate Blanchet. King John saw his Will as “law”, and the People as “subjects” to his Will. But in this Country, WE THE PEOPLE ordained and established the Constitution andcreated a federal government. And the federal government We created was subject to us. The Preamble to our Constitution, “WE THE PEOPLE of the United States”, is our assertion that We are the source of political power, and We are the creators of the federal government.[3]

Federalism & Enumerated Powers

We created a “federal” government. A “federal” government is an alliance of Sovereign and Independent States associated together in a federation with a general or national government to which is delegated supremacy over the Statesin specifically defined areas only. In Federalist Paper No. 45 (9th para), James Madison, Father of our Constitution, explains the separate spheres of operation of the federal and State governments. Only a few enumerated powers are delegated to the federal government – all other powers are reserved by the States:

“The powers delegated by the proposed Constitution to the federal government are few and defined. Those which are to remain in the State governments are numerous and indefinite. The former will be exercised principally on external objects, as war, peace, negotiation, and foreign commerce … the powers reserved to the several States will extend to all the objects which … concern the lives, liberties, and properties of the people, and the internal order …and prosperity of the State.”

So! What are these specifically defined areas where We delegated to our “creature” – the federal government – authority over the States? We listed in the Constitution every power We delegated to each branch of the federal government. These are the “enumerated” powers.[4] It is ONLY with respect to these enumerated powers – those listed in the Constitution – that the federal government has lawful authority over the Country at large![5]

  • Does the federal government have authority to issue patents & copyrights? Yes! How do we know? Because Art. I, Sec. 8, cl. 8 delegates this power to Congress.
  • Does the federal government have authority to institute social security, food stamps, Medicare, aid to families with dependent children, and obamacare? No! How do we know? Because these are not listed among the enumerated powers delegated to Congress.

Internationally, Congress and the President have authority to conduct war & national defense (Art I, Sec. 8, cl. 11-16 & Art II, Sec. 2, cl 1); and the President and the Senate have authority to make treaties respecting trade, commerce, and diplomatic relations (Art II, Sec. 2, cl 2). The lawful objects of treaties are restricted to the enumerated powers. Accordingly, the President and the Senate may not lawfully enter into the UN Arms Trade Treaty because the Constitution does not permit the federal government to restrict firearms; and further, the 2nd Amendment prohibits the federal government from infringing our pre-existing Right to bear arms.[6]Domestically: Congress has authority to make laws respecting a uniform commercial system: Specifically, uniform weights & measures, a money system based on gold & silver where CONGRESS (not private bankers such as the fed) regulates the value of money, issue patents & copyrights, make bankruptcy laws, establish post offices and build some roads (Art I, Sec. 8, cl. 4-8). The President’s duty is to implement the foregoing (Art. II, Sec. 3). Congress may make, and the President is to enforce, laws respecting who may become a naturalized citizen and the procedures fornaturalization (Art I, Sec 8, cl. 4). The Constitutionauthorizes Congress to make criminal laws respecting counterfeiting, treason, accepting bribes, and piracy & other felonies committed on the high seas. Congress may make those few criminal laws which are “necessary & proper” to carry out enumerated powers, such as making it a crime to file false claims in federal bankruptcy courts, and to lie under oath in federal court.[7] Congress has authority to levy taxes and borrow money and appropriate funds (Art I, Sec. 8, cls 1,2 & Sec 9, cl 7), but ONLY for purposes authorized by the Constitution. So! Congress may levy taxes to fund the military, to pay the salaries of the people in the patent & copyright office and other constitutionally authorized offices, and to carry out other delegated powers.

With the 13th, 14th & 15th Amendments, the defect in our Constitution permitting slavery was corrected, and Congress was delegated authority to make laws enforcing the Amendments.[9] We created federal courts and strictly limited their jurisdiction. The kinds of cases We permit federal courts to hear are itemized at Art. III, Sec. 2, cl. 1.[10] So! This is basically all We gave the federal government authority to do for the Country at large. In all other matters, the States – the Members of the Federation – are sovereign and independent. So “federalism” refers to the form of the government We created in our Constitution – a “federation” of Member States united for limited and enumerated purposes only; with all other powers being retained by the States and The People.

How the federal & State Governments are to go about Securing our God-given Rights

It is not the federal government’s job to secure all our God given Rights, just those appropriate for a “federal” government. Other rights are secured by the States.

How the God-given Right to Life is Secured:

The federal government is to secure our right to life by military defense (Art. I, Sec. 8, cl. 11-16); by protecting us from invasion (Art IV, Sec. 4); by prosecuting traitors (Art III, Sec. 3); and by laws against piracy and other felonies committed on the high seas (Art. I, Sec. 8, cl. 10). The Statesreserved the powers to secure our right to life by prosecuting murderers, outlawing abortion, euthanasia, drunk driving, the selling of harmful substances to minors, and imposing quarantines for dangerous contagious diseases. States may have pure food and drug laws. States or local governments may outlaw conditions such as old tires lying around which breed mosquitos, which cause disease. States also once secured our right to life by means of “support laws” which required family members to care for their own! Fathers were to provide for their minor children! Adult children for their elderly parents. The Bible requires family members to care for their own – and State laws used to implement this Godly Principle.

  • But in our brave new world, people are no longer obligated to support dependent family members – everyone just goes on a government program. That is what Aid to Families with Dependent Children, Social Security, Medicare, Medicaid, obamacare, are about – relieving people of their Responsibilities imposed by God to themselves and to their own families.
  • Such programs also increase the size and power of the federal government. That’s how we got the Frankensteinian monster it is today.

Securing the God-given Right to Property:

The federal government is to secure our property rights by requiring an honest money system based on gold & silver, and by establishing uniform and honest weights & measures (Art I, Sec. 8, cl 5). Inflation by means of paper currency and fractional reserve lending is theft; so honest money must be based on precious metals. Honest money and honest weights & measures are called for in the Bible. The federal government is to secure our property rights by punishing counterfeiters (Art I, Sec. 8, cl 6). The federal government is to secure our property rights by providing forbankruptcy courts. This permits the orderly dissolution of debtors’ estates with fair treatment of creditors; or the reorganization of financially troubled businesses for the benefit of all (Art I, Sec 8, cl 4). And the federal government is to secure our property rights by issuing patents & copyrights to inventors and writers to recognize their ownership of their intellectual labors (Art I, Sec 8, cl 8). The States are to secure our property rights by prosecuting robbers, penalizing negligence, fraud, breach of contract and slander. States and local governments may impose burning bans when dry weather makes outdoor burning dangerous. Local governments may make ordinances requiring people to maintain their properties so as not to deflate housing values.

Securing the God-given Right to Liberty:

The federal government secures our right to liberty by laws against slavery (13th Amendment). But the federal government secures our God-given right to liberty primarily by obeying the Constitution! The reason our Constitution so strictly limits and enumerates the powers of the federal government is to secure our basic right to be left alone to live our own lives free from meddlesome and interfering do-gooders, tyrants, and bullies. The States secure our right to liberty by laws against kidnapping, false imprisonment; and by prosecuting rapists, molesters, and muggers.

Securing the God-given Right to Pursue our Own Happiness:

The federal, State, and local governments secure this right by not meddling in our lives! We have the right to live our own lives free from interference as long as we do not deprive other people of their God-given rights.

Securing the God-given right to a Fair Trial:

The Bible requires civil governments to give fair trials – to citizens and aliens alike. See, e.g., Dt. 1:16-17, Dt. 19:15-20 & Mt. 18:16; Ex 18:13-26; don’t bear false witness.

Outlawing the Hereditary Class System:

And Remember! We are all equal before the Law – we all stand on equal footing before God and are supposed to stand on equal footing in human courts. So our Framers outlawed hereditary aristocracy with its class system: Art I, Sec 9, last clause & Art I, Sec. 10, cl 1 prohibit the federal government and the States from granting Titles of Nobility.   So! Do you see? The only proper function of civil governments is to secure the Rights God gave us – and this is how it was to be done. And note something else about God given rights: They don’t put us in conflict with each other.When all civil governments do is secure our God given rights – protect us from foreign invaders and domestic criminals and tortfeasers – the People can live together in peace. So THIS is the gift our Framers gave us in 1787 when they drafted our Constitution. But for the last 100 years, we have been letting this gift slip thru our fingers.

What Happened?

Why is our Country coming apart? Why is everybody at everybody else’s throat? Why is our financial system collapsing? Why has our Country turned into a moral cesspool? Because we forgot the Principle set forth in our Declaration that the purpose of civil government is to secure our God-given rights – by protecting us from those who seek to take these rights away from us. And we were seduced into believing that civil government should

  • Provide for our needs; and
  • Protect us from the risks and uncertainties of Life.

But these beliefs are Evil and Destructive. They destroy Countries and individual Human Souls.

A Government which Provides to Some, must Takefrom Others

HOW do governments provide for our needs? How do they PAY for the safety net programs progressive Democrats and Republicans love so much? They take money from some people by force and give it to other people! At the beginning, the money was taken from those who paid taxes. When that pot of money wasn’t sufficient, the governments borrowed money to fund the welfare programs. Now, they can’t borrow enough, so the federal government devised new methods of creating massive debt to be shoved on the backs of our grandchildren and great grandchildren. This is stealing. The federal government takes money which doesn’t belong to them – they create massive debt to be paid back by future generations – and they give it to people who have their hands out – in exchange for their political support. All these “safety net” programs: social security, Medicare, Medicaid, food stamps, aid to families with dependent children, free day care, head start, forcing hospital ERs to provide free medical care, unemployment compensation, and the like, are all based on taking money from some people (born and unborn) by force and giving it to others. On the State level, we are told that a free public school education K – 12 is a fundamental “right”. So property owners are taxed heavily to pay for the public schools which have churned out generations of Americans who know nothing and can’t think but have been indoctrinated into a secular statist worldview. Meanwhile, teachers’ unions and purple-shirted SEIU thugs are screaming for more benefits to be paid into their bloated pockets by taxpayers who make less money than the union thugs! The welfare state isn’t based on “compassion”. The welfare state is based on Envy, Coercion & Theft.THIS is what has set us at each other’s throatsThe misuse of governments to rob some of the People for the benefit of favored groups – the public and private sector unions, businesses owned by Obama fundraisers, and welfare parasites. Senior citizens were once a favored group, but Seniors will be phased out via Obama’s death panels. The welfare state with its “safety nets” negates God’s Gift of Liberty, and it violates God’s Laws protecting private property, prohibiting theft, and condemning envy. And when a culture is based on Envy, Coercion and Theft, as ours now is, it is impossible for The People to live in peace with one another.

Living in a Cocoon? Or as Free and Independent Manly Men and Womanly Women?

We were also seduced into believing that the federal government should protect us from the risks and uncertainties of Life. And so the federal government regulates and controls all human activity. Under obamacare,bureaucrats in the federal Department of Health & Human Services will control access to medical care!Education is regulated. OSHA regulates work conditions. EPA regulates the air and the water and “emissions”. The federal government oversees the wages we pay and get – all arrangements between employers and employees; all human activity is regulated and controlled and taxed. Obama’s model is the Life of Julia: a single mother dependent on the federal government throughout her life who lives in a cocoon woven around her by the federal government and paid for – by others. The price of the cocoon is personal liberty and dignity. We exchanged our glorious heritage for a bowl of porridge. The test for us is this: Have we become so dependent on handouts, and are we so indifferent to the fate of our grandchildren, that we refuse to stand up to the federal government and tell them all to go to hell?

The Progressives and the Regulatory Federal Government

This Country was made great by our Forefathers who valued freedom so much that they left their homeland on a dangerous voyage to come here where there was no job, no home, no “safety net”, no nothing but God, wilderness, Liberty, and Opportunity. Our Forefathers came to this Country without health insurance! Without disability benefits! Without retirement pensions! What happened to bring us where we are today – on the brink of social, moral, and financial collapse? During the late 1880s, Progressivism with its meddlesome and unconstitutional policies arose. The Progressives were going to “fix” everything and “fix” everybody by “regulating” everything and everybody. They would get “experts” to run everything and manage everybody and tell them what to do. The Progressives did many bad things – I’ll just mention a few: The federal government started regulating railroads. Congress passed anti-trust legislation and created the federal Food and Drug Administration. In 1913, the 16th & 17th Amendments were ratified. The Federal Reserve Act was passed in 1913. Prohibition – the 18th Amendment – was ratified in 1919. God says we may drink alcohol; but Progressives didn’t agree with that and so banned it. Federal funding for maternity and child care started. We moved to the present unconstitutional system of Presidential primaries, and abandoned the procedures for electing Presidents set forth in the 12th Amendment (ratified 1804). So it was the Progressives – and Teddy Roosevelt was the first Progressive President – who initiated our abandonment of God’s Model for Civil Government, our abandonment of our Constitution, and our descent into the cesspool of Envy, Coercion, Theft, and Dependency. The Social Security Act was passed in the mid-1930’s, and Medicare in the mid-1960s.

Man-made “Anti-rights”

So today, we are laboring under the ridiculous notion that we have a whole host of “rights” to stuff which is paid for by other people: the “right” to a free public school education; the “right” to a fair wage, paid vacations, maternity leave, and equal pay for equal work; the “right” to an income for when you are old, unemployed, sick, disabled, or whatever; a “right” to a “decent” standard of living including “adequate” food, clothing, housing, medical care, and other social services. And let us not forget the “right” to free cell phones, the “right” to free birth control, and the “right” to free abortions and abortifacts! What’s wrong with all these “rights”? What they all have in common is a claimed “right” to live at other peoples’ expense. They elevate parasitism into a “right”. All these handouts must all be paid for by someone. And unless other people pay for these freebies voluntarily, the money must be taken from them BY FORCE. So it turns some of us and our grandchildren and great grandchildren into plucked geese. That is why the welfare State is evil, immoral, and rotten to the core. And it isoperated by politicians who seek only more and more power for themselves. THIS is why we are all at each other’s throats. The people who are getting the handouts want more! The people who have been paying are sick of paying for the welfare parasites who sit at home watching their big screen TVs eating junk food – all of which is paid for by those who work, along with those who haven’t even been born. God NEVER gave us the “right” to demand that other people be forced to pay our living expenses and give us free stuff – cell phones and abortion pills! God NEVER gave us the “right” to force others to subsidize our own failures, vices, weaknesses, or irresponsibility. Two of the 10 Commandments deal with the sanctity of other peoples’ property. Not only are we forbidden to steal other peoples’ stuff, we are forbidden to covet it.

Throughout the Bible, God’s Laws uphold the sanctity of private property. So! All these man-made Anti-rightsnegate the God-given Rights because they steal our Property and our Liberty. The welfare State – socialism – communism – fascism -obama’s blather about “redistribution” and “fairness” are evil and immoral because they are based on a violation of God’s Laws granting us Liberty, upholding the sanctity of private property, and condemning envy and theft.

What Should We Do?

We must repent. We must return to God, our Founding Principles, our Constitution. We must acknowledge that the present system cannot continue; and that everyone’s favorite “safety net” programs – Social security and Medicare –have done much to destroy The Family and the concept of Personal Responsibility. The Bible, which we have spurned for a very long time, tells us that families are the primary “welfare” institution. For a very long time, families actually did take care of one another! Elderly parents died at home with their children. But today, people see it as the responsibility of the “government” to care for elderly people – to provide them an income and pay their medical expenses. And when they can no longer take of themselves, they are put in nursing homes where they die … alone. Social security and Medicare are evil – they corrupted us and destroyed our families. They are bankrupt and filled with fraud. Politicians use them as a tool to manipulate the gullible. Still, many of our Senior citizens have become dependent on these programs. So we must phase out these unGodly and unconstitutional programs in an orderly manner. All taxes need to be reduced dramatically so that people have more money to set aside for themselves and their own families. The Estate Tax should be eliminated. In the Bible, the eldest son got the double share of the inheritance because it was his prime responsibility to care for his aged parents. We must pull together with our families. We must rediscover Personal Responsibility! Until we were corrupted by the Progressives and their evil programs, we were a remarkable People characterized by “goodness”. PH

http://www.newswithviews.com/Publius/huldah111.htm


Obamacare: Just give us a bill to hype; we don’t care what it is

11/13/2012

 http://www.activistpost.com/2012/11/obamacare-just-give-us-bill-to-hype-we.html

Paul Craig RobertsContributor

Activist Post

In the article below, Dr. Dotson provides more information about Obamacare. The program is not what its supporters or its critics imagine. In my opinion, with Republicans blocking a single-payer national health system, the Obama White House went to the insurance lobby and said, “give us a health care bill that you can get Congress to pass.” The result is a complex system of taxes, penalties, and government subsidized private health insurance policies with a layer of profits added to the costs of new levels of bureaucracy.

Nomi Prins reports that the claim is laughable that Obamacare will lower costs by creating competitive insurance premiums, because of consolidations and mergers of insurance companies in preparation for the “insurance exchanges.” Wall Street is already making money off the mergers. What Obamacare really does is to allow concentration and control of health care by large corporations that will sacrifice health care to private profits.http://nomiprins.squarespace.com/thoughts/2012/11/10/real-danger-of-obamacare-insurance-company-takeover-of-healt.html 

Dr. Dotson believes that Obamacare will result in Medicare being blended into some type of corporatist insurance product bringing higher costs and fewer benefits to patients. It will be a “health system” that funnels federal revenues into insurance company profits instead of into health care.

The unexpected consequences of Obamacare are likely to require endless amendments to the legislation. The complexity will result in mistakes by doctors and hospitals that will be prosecuted as crimes. Health care for patients and adequate payment to health care providers will become back burner concerns.
Once Obamacare is up and running, the private and bureaucratic interests that benefit from the monstrosity will protect it regardless of its failure. It would have been so much better, so much cheaper, and so much simpler to have created a single-payer national health service like every other developed country. Instead, “superpower americans” are to be deprived of good and inexpensive health care for the sole sake of corporate profits.

Obamacare – The Tax Man Cometh ~ Robert S. Dotson, M.D. 

I think you should send us the biggest transport plane you have, and take this thing to the Arctic or somewhere and drop it where it will never thaw. – Lieutenant Dave in the Sci-Fi Classic, The Blob

With the confusion accompanying the passage of the Patient Protection and Affordable Care Act (PPACA, aka Obamacare) and its on-going implementation, it has not been easy to discern its real meaning for those covered by it. Presidential and Vice-Presidential candidates alike have kicked the disinformation machines into high gear. In what follows I will try to identify some of its ramifications.

The Congressional Budget Office (CBO) and Joint Committee on Taxation (JCT) have continued to periodically release estimates of the costs of PPACA.

Their most recent cost estimates for current provisions in the legislation (July 2012) indicate that the insurance coverage provisions of Obamacare will have a net cost of $1.168 trillion from 2012-2022.

Government projections usually underestimate costs. We were told that the war in Iraq would be essentially self-financing and that the banks only needed a few hundred billion to protect them from collapse.

Many thousands of billions of dollars have been shoveled at both to date and the end is not in sight.

The CBO says that the new health care law raises taxes by more than $1 trillion. The individual mandate (which the CBO refers to as a “penalty tax”) will produce $55 billion in “penalty payments for uninsured individuals”. The “additional hospital insurance tax” is the largest tax increase in Obamacare and is projected to bring in $318 billion in new revenues. Supposedly, this tax mainly hits “high-income taxpayers” (individuals making over $125,000/year and households over $250,000/year). Other money comes from: “associated effects of coverage provisions on tax revenues” ($216 billion); “reinsurance and risk adjustment collections” ($184 billion); fees on certain manufacturers and insurers ($165 billion); “penalty payments by employers” ($106 billion); “other revenue provisions” ($87 billion); and, an excise tax (40%!) on high-premium insurance plans ($111 billion).

Americans are holding on to the fairy tale that someone else will be paying these taxes – those rich pharmaceutical and insurance companies, for instance. In fact, all costs will be passed along to consumers/patients in the form of higher premiums and higher costs for drugs and medical devices. According to the Cato Institute, the top 1% of income earners can expect tax hikes of up to $52,000/year, but the bottom 99% will also feel the pain – and lack the discretionary income to absorb the taxes.

There are at least twenty new taxes included in PPACA. Seven of them will directly impact the people whose taxes Obama promised not to raise: those making less than $250,000 per household. Below is a summary of the new taxes on the middle class:

1. The Individual Mandate Tax – In 2014 this penalty will hit all Americans who are not covered by a private health insurance policy, Medicaid, Medicare, of other public insurance program. The penalty requires a couple to pay the higher of a base tax of $1,360/year, or 2.5% of adjusted growth income (AGI). In 2016 the cost of not being part of Obamacare is $695 for individuals and $2,085 for families.

2. The Medicine Cabinet Tax – This tax (begun in 2011) prohibits reimbursement of expenses for over-the-counter (OTC) medicines, with the exception of insulin, from an employee’s Health Saving Account (HSA), Flexible Spending Account (FSA), or Health Reimbursement Account (HRA). This impacts the shrinking middle class hard, since they earn enough to actually pay federal taxes, but not enough to make this a negligible restriction. This is also another backdoor attempt to block access to alternative medicines (vitamins and nutritional supplements).

3. The FSA Cap – This tax scheduled to begin in 2013 is potentially one of the most harmful to middle class people, as it imposes a cap of $2,500/year (it’s now unlimited) on the amount of pre-tax dollars that can be deposited in these accounts. Why so harmful? It is because funds in these accounts can be used for special needs education for special needs children. Tuition rates for such special education can readily exceed $14,000/year and the use of pre-tax dollars has helped many families over the years.

4. The Medical Itemized Deduction Hurdle – Presently, one must have medical itemized deductions of greater than 7.5% to deduct them on federal income taxes. Obamacare raises the bar to 10% of AGI beginning in 2013.

5. The HSA Withdrawal Tax – This tax increases the additional tax on early non-medical withdrawals from these types of accounts from 10% to 20% in 2013.

6. The Indoor Tanning Services Tax – Begun in 2010, this provision added a 10% excise tax on people using tanning salons. Some may consider this minor, but it is another attempt by the Ruling Elite to control the behavior of the peasants and, I believe, to put a road block to accessing beneficial light therapy for many people. Space does not permit exploring this much further here, but suffice it to say that there are many potential health benefits from the use of tanning beds when properly used. A variety of conditions, from depression (Seasonal Affective Disorder or SAD) and related mood disorders to psoriasis, are improved by the judicious use of tanning type beds. I can hear my Dermatology colleagues groaning now, but the over-reaction to increases in skin cancers by banning tanning beds and slathering often-toxic sunscreen on everyone has led to an even worse epidemic of Vitamin D deficiency, in my opinion. The latter problem, of course, can be directly linked to explosions in the numbers of Type II diabetics, cancers of many types, and respiratory infections (such as, influenza).

7. The Excise Tax on Comprehensive Health Insurance Plans or the “Cadillac” Health Insurance Plan Tax – So-called Cadillac plans are generally fully paid for by employers. This tax, delayed until 2018 to protect Obama’s union supporters, will impose a 40% excise tax on the recipients when fully enacted.

There are at least 13 other significant taxes imposed on all businesses, employers, and “high income” individuals (>$125,000/year) and families (>$250,000/year) within PPACA. A summary of these other taxes and the history behind Obamneycare can be found at Wikipedia:http://en.wikipedia.org/wiki/Patient_Protection_and_Affordable_Care_Act.

It is worth taking time to review this entry, so that one can understand how invasive and costly this legislation really is.

For “low income” individuals and families, subsidies for insurance obtained from “insurance exchanges” will be provided for those between 100% and 400% of the Federal Poverty Level (FPL). For example, the 2016 FPL is projected to be $11,800/year for an individual and $24,000/year for a family of four. DHHS and CBO estimate that the average annual premium cost for a family of four without PPACA would be $11,328/year. With PPACA in place as presently enacted, the same family at 200% of FPL would be paying $2,778/year out of pocket and at 400% of FPL, $8,379/year. In participating states, Medicaid eligibility will be expanded to all individuals and families earning up to 133% of the FPL. The Wikipedia entry referenced above contains several tables that explain this in more detail.
The Internal Revenue Service will be the implementer and enforcer of PPACA (up to 16,000 new agents). The Act will be partially paid for by taking $716 billion from Medicare and Medicaid; AARP claims that the money is taken from doctors and hospitals, but the lower payments to health care providers will reduce the services that Medicare patients receive.

The Congressional Budget Office reports that costs will rise for all Americans; and, more than 30 million will remain uninsured when Obamneycare is fully implemented. The CBO further predicts that the average family’s insurance premiums will rise at least $2500/year, in spite of candidate Obama’s repeated promises that they would go down that same amount. Be of good cheer, however, as all illegal immigrants will be exempt from the health insurance mandate and, yet, will remain eligible for emergency services under the 1986 Emergency Medical Treatment and Active Labor Act (EMTALA).

As a kid (and, I confess, as an adult) I always loved the 1950s science fiction thrillers. One of the classics from that era is The Blob (1958). Though silly in many ways, it remains metaphorically appropriate today. Starring a young Steve McQueen, the story revolves around an extraterrestrial bit of alien protoplasm that arrives on Earth via a meteorite. This goo proceeds to engulf every living thing that comes in contact with it until it fills the town’s cinema and engulfs the local diner. In this thriller, the Blob is finally defeated by freezing it with CO2 bottles and the U.S Air force airlifts the blob to the arctic. Problem solved – at least, until global warming kicks in.

In reflecting on Obamneycare over the past few months, I have been unable to discover any such easy solution for eliminating PPACA.

This article first appeared at Paul Craig Roberts’ new website Institute For Political Economy.  Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His Internet columns have attracted a worldwide following.


White House website deluged with secession petitions from 20 states

11/12/2012

http://dailycaller.com/2012/11/11/white-house-website-deluged-with-secession-petitions-from-19-states/

White House website deluged with secession petitions from 20 states

David Martosko
Executive Editor

Related Articles

How would Old Glory look with 30 stars instead of 50? As far-fetched as it may sound, the White House might soon be forced by its own rules to examine the question.On Nov.7, the day after President Barack Obama was re-elected, the White House’s website received a petitionasking the administration to allow Louisiana to secede.If 25,000 people sign the petition by Dec. 7, it will “ require a response” from the Obama administration, according to published rules of the White House’s online “We the People” program. (RELATED: Website petition to Obama: Please create “Do Not Kill” list)

The Louisiana petition has collected more than 12,300 signatures in four days. A separate effort from Texas has 15,400 supporters.

Similar petitions from 18 other states began arriving Nov. 9, bringing the total ­ for the moment ­ to 20.

The White House website publicly displays petitions that have attracted at least 150 signers. (RELATED: Obama petition initiative bashed as unethical campaigning with taxpayer resources)

“Michael E” from the New Orleans suburb of Slidell penned the initial proposal ­ the website doesn’t provide last names ­ in which he asked the Obama administration to “[p]eacefully grant the State of Louisiana to withdraw from the United States of America and create its own NEW government.”

His entire petition consisted of excerpts from the Declaration of Independence.

“Governments are instituted among Men, deriving their just powers from the consent of the governed,” one portion read, “that whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or abolish it, and institute new Government.”

“Micah H” from Arlington, Texas submitted the petition on behalf of the Lone Star State.

“The US continues to suffer economic difficulties stemming from the federal government’s neglect to reform domestic and foreign spending,” he wrote.

Texas, he added, “maintains a balanced budget and is the 15th largest economy in the world,” making it “practically feasible for Texas to withdraw from the union.”

What began as a pair of parallel stunts appears to have gathered steam. Other than Louisiana and Texas, states with secession-related petitions pending on the White House website now include Alabama, Arkansas, Colorado, Florida, Georgia, Indiana, Kentucky, Michigan, Mississippi, Missouri, Montana, New Jersey, New York, North Carolina, North Dakota, Oregon, South Carolina and Tennessee.

Three states – Georgia, Missouri and South Carolina are each represented by two competing petitions.

WE PETITION THE OBAMA ADMINISTRATION TO:

Peacefully grant the State of North Carolina to withdraw from the United States and create its own NEW government

As the founding fathers of the United States of America made clear in the Declaration of Independence in 1776:

“When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature’s God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.”

“…Governments are instituted among Men, deriving their just powers from the consent of the governed, that whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or abolish it, and institute new Government…”

Created: Nov 09, 2012

Issues: Government Reform

Learn about Petition Thresholds

SIGNATURES NEEDED BY DECEMBER 09, 2012 TO REACH GOAL OF 25,000

19,967

TOTAL SIGNATURES ON THIS PETITION

5,033

Sign This Petition

Note: When you sign this petition, your first name, last initial and city and state will be publicly displayed on the petition page. Once you sign a petition, your signature cannot be removed.

OLDDOGS COMMENTS

        WHAT BETTER WAY TO LET THE BASTARDS KNOW HOW YOU FEEL ABOUT THEM?

I signed it, how about you?