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Art Hogan, chief market strategist for Jefferies & Co., said the magnitude of the financial industry fallout is unprecedented, and could only be compared to the Great Depression of the 1930s or the railroad bankruptcies of the 1800s.
"We've never witnessed this before," said Hogan. "There's no road map for thi
A stunning makeover of the Wall Street landscape sent stocks falling precipitously Monday, with the Dow Jones industrials sliding 500 points in their worst point drop since the September 2001 terrorist attacks.
Foreign owners of the debt
Anyway, the Chinese still don't own nearly as much of our federal debt as the Japanese do—and neither of those countries has been purchasing nearly as much as the British have.
Queen Elizabeth controls and has amended U.S. Social Security, as follows:
S.I. 1997 NO.1778 The Social Security ( United States of America)
Order 1997 Made 22nd of July 1997 coming into force 1st September 1997. At
the Court at Buckingham Palace the 22nd day of July 1997. Now, therefore Her
Majesty an pursuance of section 179 (1) (a) and (2) of the Social Security
Administration Act of 1992 and all other powers enabling Her in that behalf,
is please, by and with advise of Her privy Council, to order, and it is
hereby ordered as follows:
"This Order may be cited as the Social Security (United States of America)
Order 1997 and shall come into force on 1st September 1997."
Does this give a new meaning to Federal Judge William Wayne Justice
stating in court that he takes his orders from England? This order goes on to
redefine words in the Social Security Act and makes some changes in United
A recent article in the London Financial Times indicates why it is impossible to gain an accurate estimate of the wealth of the trillionaire banking elite. Discussing the sale of Evelyn Rothschild''s stake in Rothschild Continuation Holdings, it states:..[this] requires agreement on the valuation of privately held assets whose value has never been tested in a public market. Most of these assets are held in a complex network of tax-efficient structures around the world. Queen Elizabeth II's shareholdings remain hidden behind Bank of England Nominee accounts. The Guardian newspaper reported in May 2002... the reason for the wild variations in valuations of her private wealth can be pinned on the secrecy over her portfolio of share investments. This is because her subjects have no way of knowing through a public register of interests where she, as their head of state, chooses to invest her money. Unlike the members of the Commons and now the Lords, the Queen does not have to annually declare her interests and as a result her subjects cannot question her or know about potential conflicts of interests.