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Saturday, December 10, 2011
Big Goverment Polices are the Cause of an Underground Economy and the Black Market.
It is strange how Hollywood paints a negative picture of the black market like in shows like MASH and other TV programs. They portray some Black Marketeers as ruthless opportunist exploiting the people for personal gain. I am not saying it does not exist. There are scoundrels who do take advantage of people in need for profit because the risk involved selling and buying in the black market. The war on drugs is a joke. Government intervention created the drug war were the price is high to sell and buy illegal substances. The drug cartels is just another word for black marketeers.
When Prohibition was enacted with the Eighteenth Amendment and the Volstead act was a disaster because it banned to production, sale and transportation of alcoholic beverages. Banning booze did not stop people from consuming beer and whiskey like the war on drugs did not stop heroine addicts getting their daily smack. Prohibition did the opposite of what it was intended for in the first place. It created the rise of Al Capone and the Speakeasies. The Kennedy family made money bootlegging during this era. The War on drugs and Prohibition were Government policies trying to regulate human behavior created an underground economy were criminal elements took the opportunity to gain from it regardless if there was blood in the streets as a result.. The road to hell is paved with good intentions.
In the run-up to the 2012 presidential election, the incumbent US leadership tried to prime the economy with a federal spending surge. The attempt failed. The federal debt hit $10 trillion in early 2013, and on 2 July the stock market crashed and a depression began.10 While Europe was affected, Southeast Asia was such a large creditor region they escaped relatively unscathed. China's gross domestic product passed $15 trillion in 2014,11 the same year the yuan became the de facto international currency standard.
In 2016, US unemployment reached 18 percent, and the government faced the "great dilemma": Should it allow banks to foreclose on homeowners, creating millions of new homeless people, or should it protect homeowners and risk bank failures? It chose the latter. In the aftermath, over 10 thousand banks failed and the government scrambled to keep the monetary system afloat.
Meanwhile, the Harmony project was a great success. An outstanding technical achievement, it sparked a desire for the Asian powers to work more closely together. They began annual economic conferences in 2017, at which time a framework for regional free trade was established.
In 2018 the United States Supreme Court reversed its 1990s immigration rulings, paving the way for a reduced federal budget. Riots resulted as non-US citizens violently protested the sudden loss of welfare and other social benefits. The National Guard had to be mobilized to quell the disturbances. Over the next four years, the Congress and the president completely streamlined and restructured the Washington bureaucracy. The financial markets began to react positively, and in 2022 the economic recovery began.
At the same time, Taiwan and China set aside their past differences and merged peacefully. Following that merger, Singapore, Malaysia, and Indonesia began to push for economic unification with China. Beijing hosted a conference in 2023 where a series of agreements were signed leading to the formation of a new confederation. In 2024 China, Singapore, Malaysia, and Indonesia merged into the largest economic power the world has ever known.
2 Japanese Men with $134 Billion in US Bonds Busted in Italy. June 11, 2009
Two unidentified Japanese nationals have been detained in Italy after they were found carrying $134 billion in undeclared U.S. bonds.
The men, who carried the bonds in a suitcase with a false bottom, were allegedly trying to enter Switzerland with the money.
No charges have yet been laid but it's hard not think of a good — and legal — reason that any two men, regardless of their nationality and identity, would be carrying more than a hundred billion dollars around in a suitcase.
Originally posted by soficrow
reply to post by burntheships
The link led to an error - so tried to find the article. Found this, from 2009 .......then after I posted, I noticed this thread is from 2009. Time for bed....
Read backward a few pages and you'll be up to speed with the Keenan court filing which clarifies the 2009 events somewhat while adding some new details.
Whistleblower and OITC
Response to Ben Fulford's Latest
Aug 11, 2010 - 9:44:12 AM
i). There is a large international meeting scheduled in Washington at the end of this month to deal with ongoing financial war these bonds are an integral part of. It is looking very much like the end game for the Federal Reserve Board and their puppets in Washington D.C. The nightmare is finally ending.
These Bonds are indeed part of the ongoing war within the Financial World. A war Mr Fulford, that you and your associates are deeply involved with in your attempts to subvert and destroy the financial systems of the world, and numerous International Treaties, by your unlawful acts, or actions.
Yes, I will agree that the fundamental problems of the International Financial Systems need to be seriously addressed and changes to the said International Financial Systems need to be undertaken for the sake of the whole world. However, none of this can be implemented through unlawful acts by you and your associates Mr Fulford, as you appear to condone and are fully active within.
At this juncture, I would like to address one other issue Mr Fulford.
You have on many occasions publicly stated about a New International Financial System to be introduced, of which your Chinese and Japanese friends, the Rothschlds, Vatican and others are involved. Yet, you have never published, or made available to the public any document, or documents, that give even the slightest hint of what you and your group are proposing.
We, the OITC, have worked relentlessly on this very issue, utilizing the assets of the Collateral Accounts of the Global Debt Facility as the Collateral backing for a New Assets Backed International Monetary Unity, and New International Financial System, the retention of all National Currencies that would be initially backed by assets of the Collateral Accounts of the Global Debt Facility, and so on.
We have, at least, publicized the basic platform on this, in the form of two Video Presentations, which can be downloaded from our Website, so that members of the public can see what is proposed and make comment on, because once again Mr Fulford we are as open and transparent as we possibly can be, which is something that does not be applicable to you or your group.
The public, Mr Fulford, do not want to be thrown from one hot frying pan into another hot frying pan, and end up being badly burned as they have within the existing Financial System.
BF: They offered me at one point the job of Finance Minister of Japan.
DW: Finance minister of Japan. Right.
BF: They also, believe it or not, offered me General Electric and General Motors.
DW: Like you would be the CEO, or something?
BF: Yeah, and I guess the chief shareholder.
The problem, of course, is I had to go along with their plan to kill four billion people. It’s the classic “sell your soul to the devil” situation.
Subject: Foreclosed Properties
Date: December 14, 2011
To: Chief Executive Officers of All National Banks and Federal Savings Associations, Department and Division Heads, and All Examining Personnel
Releasing a Lien Rather Than Foreclosing
At times, lenders may release a lien securing a defaulted loan rather than foreclose on the residential property. This decision is often based on financial considerations when the bank or servicer/investor determines that the costs to foreclose, rehabilitate, and sell a property exceed its current fair-market value. When this decision is made after a bank or servicer has initiated foreclosure, the borrower may have already abandoned the property or discontinued the care and maintenance of the property, increasing the chance of a blighted property in the community. Because the decision to release a lien is typically a financial decision, banks and servicers should ensure that their valuation of the property provides the best information practicable, while complying with investor requirements, before initiating foreclosure and subsequently deciding to release the lien. While the financial risk must be considered, banks and servicers should also consider the potential for reputation and litigation risk arising from their position as a prior mortgagee or servicer of a now-abandoned property.
If the decision is made to forego foreclosure and release the lien, the bank or servicer should notify, or attempt to notify, the borrower of the decision. Borrowers should be notified that (1) the mortgage holder is not pursuing foreclosure and has released the mortgage lien, (2) the borrower may continue to occupy the property, and (3) the borrower is obligated to maintain the property consistent with all local codes and ordinances and to pay property taxes and the debt owed. The bank or servicer should also make appropriate notifications to the local jurisdiction when it makes the decision to release a lien in lieu of foreclosure.
For additional information, please contact Steven V. Key, Assistant Director, Bank Activities and Structure Division, (202) 874–5300; or Kevin R. Russell, Director, Retail Credit Risk Division, (202) 874–5170.
4. MF Global illegally took segregated customer funds out of J.P. Morgan to meet margin calls in an attempt to survive the trade. It was the legislated responsibility of the U.S. government to protect this from happening.
5. MF Global’s clients (without their knowledge or permission and as an illegal manuever) became the default counterparty to MF Global’s trade. This is a fact Congress has not yet figured out.
6. MF Global puked about $1.5 billion of the trade, but it filed for bankruptcy when it was finally unable to meet further margin calls.
The remaining $4.8 billion trade was taken over by KPMG LLP, MF Global’s bankruptcy administrator in London. REMEMBER FROM POINT #5 ABOVE, MF GLOBAL’S SEGREGATED CLIENTS REMAINED A COUNTERPARTY TO THE TRADE BY DEFAULT.
7. KPMG peddled perhaps half (or more) of the trade to George Soros. The actual amount reported was $2 billion, but at a discount.
Remember, this trade was a guaranteed winner at the maturity of the bonds, so Soros was locked into a profit. Also, with his deep pockets ,Soros knew he could withstand interim margin calls if necessary.
Final point #8: MF Global’s segregated account holders became the default counterparty to Soros’ trade.
The profits that Soros has locked in represent, in large part, the segregated money previously belonging to MF Global clients that had been safe and secure (at least that is what the CFTC’s responsibility was) at J.P. Morgan.
Let me conclude by emphasizing that George Soros did nothing illegal in this manuever. The great speculator/shark simply smelled blood in the water and had the money to buy a distressed trade that was a guaranteed winner.
But in the process, the profits Soros will realize will in part (or in whole) be the segregated funds of MF Global’s clients. Technically, and legally, these funds belong to Soros because they were laundered through the complex process of rehypothication. But make no mistake about it, this is the money that previously belonged to MF Global’s clients.
December 15, 2011
Major banks to cofinance Gazprom
The Yomiuri Shimbun
Three major Japanese banks will jointly lend 800 million dollars (62 billion yen) to Gazprom, Russia's largest gas producer, signaling a growing global presence of Japanese banks amid the European financial crisis that has left the region's banks teetering.
Bank of Tokyo-Mitsubishi UFJ (BTMU), Sumitomo Mitsui Banking Corp. and Mizuho Corporate Bank will finance the loan to the gas giant, as European banks holding large amounts of bonds from debt-ridden governments have seen their lending power decline amid the crisis.
BTMU will manage the loan syndication, with UniCredit SpA, a leading Italian bank, also taking part.
The loan will be used as operational funds for Gazprom. The limit on the loan is set at five years, starting at the end of the year. It is the first time a Japanese bank has managed a cofinanced loan to Gazprom.
BTMU serves as manager for an international syndicate to provide a 1 billion pounds (121 billion yen) loan to leading British aircraft engine producer Rolls Royce. The limit on the loan to Rolls Royce is also set at five years, with 22 other banks, including European and U.S. banks, taking part.
Since the sovereign debt problem became critical in August, there have been growing calls by European companies for Japanese banks to extend loans. Troubled European banks have also been calling on their Japanese counterparts to buy their claims on outstanding loans, according to industry sources.
(Dec. 15, 2011)
Originally posted by smallpeeps
Hmmmm, Rolls Royce engines?
Where's Reinhardt when you need him eh? He's a damn good researcher, I had no idea that Stalin had bought Rolls Royce engines secretly and was waiting to devour Hitler. But it's true because the Jesuits ran WW2 completely.
Originally posted by smallpeeps
Jesse has not interviewed Reinhardt, suspiciously enough.
Originally posted by smallpeeps
Can't wait until TruTV reverts back to its original form, CourtTV.
Boehner’s office cuts off C-SPAN cameras as GOP takes verbal beating
By Stephen C. Webster
Wednesday, December 21, 2011
A Republican officer abruptly adjourns the House of Representatives. Image: Screenshot via C-SPAN.
A strange thing happened Wednesday morning on Capitol Hill.
As Rep. Stenny Hoyer (D-MD) attempted to call for a vote to extend a payroll tax cut to middle class and working Americans, his Republican colleagues adjourned the House and walked out of the chamber. And if that weren’t odd enough, it got even stranger: As Hoyer railed against them for failing to help working Americans, footage from C-SPAN went silent, then cut away.
Moments later, C-SPAN took to the Internet to explain that it wasn’t their doing, but someone working for House Speaker John Boehner (R-OH).
The incident occurred mere moments after the House went into session. Hoyer made a motion for a vote on the Senate’s payroll tax cut extension, which would extend the lower rates for another two months, but the Republican presiding over the House did not acknowledge the motion. He instead adjourned the House, then got up and walked out.
MF Global, the bankrupt parent of a failed broker-dealer, lost $2.36 million from Oct. 31, the day it filed for creditor protection, to Nov. 30, the Chapter 11 trustee, Louis Freeh, said in a filing today in U.S. Bankruptcy Court in Manhattan. Most of the money, $2.38 million, went to pay the remaining employees www.bloomberg.com...