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Go to 12921
http://cafr1.com/NGE.html
The Government Economy Con-Game = "Derivatives"
by Walter Burien - 03/15/08 - http://CAFR1.com

One way Government now "creates wealth" out of thin air is by covertly taking it "all" as a monopoly from everyone else. The ever-growing 516 trillion dollar international derivative market is a key tool used by Government to do just that. Read the article linked below, but before you do, please read my comments below the link first:

=http://www.marketwatch.com/news/story/derivatives-new-ticking-time-bomb/story.aspx?guid=%7bB9E54A5D-4796-4D0D-AC9E-D9124B59D436%7d&print=true&dist=printTop

The fiat US-dollar not being backed by any hard commodity value gave government the opportunity to takeover the domestic and International market place wealth of all others for the last fifty years by perpetual printing of those dollars as the entire populations productivity value was drained through the use; conversion; and taxing of those dollars.

Government now owns it all (equity; stock market; debt market; insurance; banking; etc.) by investment. Read through my site CAFR1.com

The game though in the last fifty years has transitioned into an international game "outside" of the dollar. So, to control the World economy a new strangle-hold needed to be created that encompassed all currencies; commodities; or anything of value. The answer: Derivatives!

The article linked above shows the growth of the derivative market but the driving force is not disclosed. The first question in logic you must ask yourself is; Who is the primary player? Here the answer is our own government in composite totals between local and federal creating the biggest monopoly the world has ever seen is "the player" of no equal. For your convenience here is a copy of Note D from the 2002 PA State CAFR and I note that the figures are in thousands (add 3 zeros): http://cafr1.com/Pictures/PA2002D75.jpg Do the math.This is just one (1) government entity, one of thousands that directly or indirectly plan strategy with the "collective" of all other government investment managers.

OK, what are they doing here?? Now you must ask yourself; What is the advantage of a derivative?

Being that I want you to understand, I will keep it simple here and to the point:

A derivative is a contract bet for "future" pricing in which the buyer and seller to the bet agrees to be held financially accountable for the outcome of the bet. This could be pricing days, months, or years ahead. The bet may apply to: a stock, bond, commodity, currency, interest rate, liability on an insurance policy, building project, mortgage, etc.

In principle and in an open free market where players involved in these items wish to use derivatives to lock in prices or limit liability on the sale or purchase of the underlying item, derivatives are a useful tool to stabilize unknown price liability. Very little money is used to trade the derivative (1% or 2%) of the value as a good faith deposit towards price swings of the underlying item to lock in the price for the future.

EXAMPLE: Gold is at $950 / oz and you think it will collapse to $550 / oz twelve month out from today and the derivative on the commodity market one year out; June 2009 Gold is priced today at $1050 / oz on a 100 oz derivative contract (the market thinks it will be higher one year out)

You are a small player so you SELL One (1) June 2009 Gold contract at $1050 when hit as a paper commitment to to deliver 100 oz come June of 2009. Keep in mind this is a "paper" commitment, you do not have to fulfill the commitment until June 2009 but even though you may not own 1 oz of gold, your bet is for lower prices so you SELL and someone on paper who you sold to bought that contract agreeing on paper to pay $1050 come June 2009.

Well, hypothetically let's say a research company next week announces they have developed a process to extract gold from sea water whereby millions of ounces of gold can be extracted a day for a cost of $5 / oz. Ouch! SELL, SELL, SELL! Gold now collapses to $50 / oz over the next thirty days.

Well, big smile on your face, you have a commitment from a bet a few weeks ago from a buyer at $1050 so you now BUY One (1) June 2008 Gold on the derivative exchange at $50 with someone now willing to sell one at $50 (thinks the price is going to $5 due to the seawater extraction discovery) and you now have canceled out your commitment to deliver come June of 2009 locking in $1000 / oz on the trade. This on a contract size of 100 onces equals in cash profit $100,000 and your good faith margin deposit to make that trade was only $2000. Hmmm, Las Vegas a million times over!

If on the example above you were a big trader and had clear inside information on the exact date of the upcoming announcement per Gold extraction from the sea, and filtered in 400,000 contracts between the NY, Chicago, London, Zürich, and Hong Kong derivative gold exchanges, and also went short derivatives on all international Gold mining stocks, and International currencies backed by gold, then do the math. You are now deciding from pocket change on if to buy that small island called Hawaii or that small state called Texas.

Here is the problem folks: Our Government at the top knows "what is going to happen" in the near future. They control the reports released; interest rates assigned; if or if not a war will take place; or as a few did - if an event such as 911 will occur.

Additionally through the SEC (for stocks) and the CFTC (for commodities and currencies) government knows every position held by all players domestic and Internationally. With that knowledge and armed with the historical knowledge from decades of what price swings or information presented will "suck in" food to feed on (players they can strip bare of their wealth), the price swings are manipulated with extreme swings to do just that. Government bottom-line end results are in the black on their trillion dollar composite investment funds by overbearing consistency prove this to be true. Commodity prices on any item such as Crude oil, the Dollar, Gold, or interest rates the can be artificially raised or lowered quickly back and forth with the use of derivatives.

Many of these investment funds are now managed outside of the US (off-shore) with trillion dollar US Government account balances that are not even visible for ease of inspection per their trading activity.. Do the lower level government employees know this? No, for most they do not.

Last year the Chinese Government cut off further US Government investments in China (US Government investment funds, especially on their derivatives market were taking over) India on the same day put restrictions on US Government investments in their derivatives market for the same reason also. The following day the US Stock Market was down 650 points. (Some thought the game was over, but it was not)

But don't worry about the US Stock market foolks,(whoops, sic: folks) US Government local and federal owns the primary corporations in the US Market by composite stock ownership. Private sector ownership is insignificant in comparison. Salute Comrades!

The Oil Companies; Pharmaceutical Companies; the War Industry Companies; the Insurance Companies; and the Banks government now owns by investment..

REALITY CHECK: When you own the cookie jar, you determine the price of the cookies, what cookies are eaten and what cookies are discarded... Do you think one of those Fortune 500 Companies are going to buck government and find themselves in the trash can the following day? Me thinks not.

Now you know why the stock, currency, and commodity markets have done what they have done over the last decade or two. You also now know the driving force (motive) behind every upper-level government policy and decision.

Keep in mind that on those down swings, Government is the #1 derivative player of no equal so they make the money on the downswings and they make the money on the upswings. The EXCHANGES guarantee the bets, the houses clearing trades through the exchanges will collect the bets if need be, and the Government who is taking the mother-load of the profits will make sure both do what is necessary to collect on the bets if money is due.

On the bet whether you are an individual, company, or country, they will seize your property, money, or business to satisfy the bet if it results in a loss to you and a balance for payment is left outstanding to them. After all, it does influence Government's bottom line return on their investments. Want to look at the profits from just one government investment fund? Then CLICK HERE.

Two months ago CALPERS (The CA Gov Pension Fund team) announced they were expanding their derivative management team by 450 individuals. Business must be good! Follow the trail off-shore through CALPERS International since 1982 and things will get real interesting for you.

Will this 500 trillion dollar derivative bubble pop? Well, if a free and open market was in place at this time, and being that there are ten times the value in derivatives out there with most truly not backed with the real item, a collapse would occur tomorrow resulting with many of the players being cast on the street with a cup in their hand hoping to get a meal for the day. (those that did not jump off the roof to the street below that is)

But alas, being that government owns the cookie jar, what their plans are for the future, only time will tell. My guess is they will maintain their book value of investments as they continue with the conquest of everyone else's wealth. Massive moves up and down will occur in some markets though as they "milk the cow" of the international derivative market place.

US Government through the use of their investment funds as they developed have evolved themselves and this country into a landscape in reality more foreign looking than the face of the moon over what our founding fathers anticipated for us centuries ago.

Is this a bad thing? Not for the top players, they have been laughing all the way to the bank as the public is masterfully entertained, being schooled like minnows in a pond at every turn of the page. END RESULT??? They own the cookie jar now so, the object is to make a bigger cookie jar for the cooperative players in the game and to starve off all the rest into submission.

To have a NWO (New World Order) under your control, derivatives are an important step to knock-out all opposition by taking their wealth and they will come in-line for management soon enough and then be accepted into the ranks of the inside players..

Not a peep on TV per the core of this game? Well, Silence is Golden it seems.



Go to 12920
http://www.rabble.ca/columnists_full.shtml?x=68615
NAFTA's legacy: the worst agreement we ever signed
>by Murray Dobbin
March 10, 2008
In the aftermath of Barack Obama's and Hillary Clinton's threats to "renegotiate" NAFTA — or pull out — the usual suspects have been activated to tell the world how wonderful the deal has been for Canada and the United States.

There is no doubt that the sector that devised the scheme in the first place and sold it to politicians have benefited greatly from this investors' rights agreement and its predecessor. The continent's largest corporations have greatly reduced regulatory impediments to their profits, radically lowered labour costs, gutted Canada's sovereign capacity to pass new environmental legislation and, in terms of investment restrictions, virtually erased the borders.

All of those corporate benefits, however, have been extremely bad for other aspects of Canada and for ordinary Canadians.

But first, let's dispose of a myth about free trade — the notion that it was responsible for massive increases in trade between the U.S. and Canada. According to an Industry Canada study, 91 per cent of the increase in trade in the 1990s was due to the cheap Canadian dollar and the sustained economic boom in the U.S. Now that our dollar is at par or higher, our manufacturing exports are plummeting.

But even if NAFTA were responsible for increased trade, Canadian workers have paid a huge price. Throughout the 1990s, federal governments trumpeted the need to be "competitive" under NAFTA as an excuse to implement some of the most Draconian rollbacks of Canadian social programs ever undertaken. In the name of "labour flexibility," Paul Martin implemented drastic changes to EI eligibility, and repealed the Canada Assistance Plan, freeing the provinces to gut their welfare programs. His extreme low-inflation policy deliberately kept unemployment at high levels (8 per cent to 9 per cent) for most of the 1990s.

That meant that, throughout the decade, workers' real wages actually declined. They still have not caught up to 1981 levels. And the highly paid 220,000 industrial jobs lost as a result of NAFTA are gone forever, replaced by lower-paid jobs.

NAFTA was supposed to unleash a flood of foreign investment — boosting our industrial capacity and productivity. Instead, since the first trade agreement was signed, more than 95 per cent of direct foreign investment has been used to buy up Canadian companies. Head offices and research and development money has headed south, and Canada has seen a steady decline in manufactured goods as a percentage of its GDP for the past 10 years.

Our productivity has fallen behind that of the U.S. in virtually every year since the FTA came into effect in 1989.

The environment has also suffered almost continuously since the deals were signed — and this is according to the Commission for Environmental Co-operation, the NAFTA agency responsible for monitoring the impact of the new regime. The North American Mosaic: The State of the Environment Report, released in 2001, declared that "North Americans are faced with the paradox that many activities on which the North American economy is based impoverish the environment on which our well-being ultimately depends."

It might also have mentioned that Canada has not passed a major new environmental protection law since NAFTA came into effect — at least not successfully. In two instances where it did try, NAFTA's investment chapter forced it to back off. In the Ethyl Corp. case, Canada tried to ban a gasoline additive, MMT, that damaged cars' catalytic converters (not to mention our health). The company sued under NAFTA and Canada withdrew the law. The resulting chill effect means we have no idea how many proposed new laws have been killed in their cribs.

Prime Minister Stephen Harper says Canada is an energy "superpower." But NAFTA virtually guaranteed that the U.S. would be the beneficiary of our energy, and it unleashed a massive increase in energy exports to the U.S.

Canada now exports 63 per cent of the oil it produces and 56 per cent of its natural gas to the U.S. And because of NAFTA's proportionality clause, Canada is legally obliged to continue exporting the same proportion of our oil and gas forever even if we face a shortage.

Next up is our water. The U.S. is already officially into its supply problems and it will, over the next 20 years, become a catastrophic crisis, outpacing even their predicted energy crisis.

NAFTA defines water as a good — meaning that, as soon as any provincial government signs a contract to export bulk water to the U.S. (by river diversion or tanker), nothing can stop further exports.

All of this, and for what? Allegedly, it was for guaranteed, predictable access to the U.S. market. But, of course, as the softwood lumber saga proved, there is no such thing. When its history is written, NAFTA could rightly be described as the worst agreement ever signed by a Canadian government.


Murray Dobbin writes from Vancouver. This column first appeared in The Globe and Mail.



Go to 12919
http://www.webofdebt.com/articles/debt-serfdom.php
TODAY WE'RE ALL IRISH:
DEBT SERFDOM COMES TO AMERICA
Ellen Brown, March 15th, 2008

March 17 is St. Patrick's Day, when people of all national origins raise a glass and declare, "Today we're all a bit Irish!" This may be truer than we know. The Irish were driven to America by debt, and they are leading the Western world in household debt today. The London Daily Telegraph reported on March 13, 2008 that household debt in Ireland has reached 190 percent of disposable income, the highest in the developed world; and that the Irish banking system is suffering such acute strains from the downturn in the housing market that it may have to nationalize its banks.1 The same may soon be happening in the United States, and for much the same reasons.

Debt Drives the Irish to America

A short review of the history of the Irish in North America reveals that few were here before 1845, when a disease struck the potato crops of Ireland, wiping out the chief or only source of food for many poor farmers. Famine continued for the next five years, killing over 2.5 million people. "God put the blight on the potatoes," complained the Irish farmers, "but England put the hunger upon Ireland." Farmers who were heavily in debt were shipped to England to pay the rent owed to their landlords. Impoverished Irish immigrants saved what little money they could to send family members across the Atlantic, traveling on overcrowded ships on which many died of disease or hunger on the way. When they arrived, the Irish men had to fight – often physically – to get labor jobs involving long hours and low pay; while the women worked mainly as servants (called "Brigets") to upper-class families. Despite their very low wages, they managed to send a bit of money back to their families, until other family members had enough to buy the ship tickets to America. In the American South (mainly New Orleans), the Irish lived in swamp land infested with disease. Here, Irish men were looked upon as actually lower than slaves. As one historian put it, if a plantation owner lost a slave, he lost an investment; if he lost a laborer, he could always get another. Because the Irish workers were plentiful and expendable, they were often sent in to do dangerous jobs for which the slave-owners were reluctant to send their valuable slaves.2

"Debt Slavery" Replaces Physical Slavery

This form of "debt slavery" or "debt peonage" was not just an accidental development of history. It was a deliberately-planned alternative to the slave arrangement in which owners were responsible for the feeding and care of a dependent population, and it is still with us today. Although European financiers were in favor of an American Civil War that would return the United States to its colonial status, they admitted privately that they were not necessarily interested in preserving slavery. They preferred "the European plan": capital could exploit labor by controlling the money supply, while letting the laborers feed themselves. In July 1862, this ploy was revealed in a notorious document called the Hazard Circular, which was circulated by British banking interests among their American banking counterparts. It said:

Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are glad of, for slavery is but the owning of labor and carries with it the care of the laborers, while the European plan, led by England, is that capital shall control labor by controlling wages. This can be done by controlling the money. The great debt that capitalists will see to it is made out of the war, must be used as a means to control the volume of money. To accomplish this, the bonds [government debt to the bankers] must be used as a banking basis. . . . It will not do to allow the greenback, as it is called, to circulate as money any length of time, as we cannot control that.3
A system of "debt peonage" is inextricably linked to a banking system in which money is issued privately by bankers and lent to the government rather than being issued as "greenbacks" by the government itself Today the "European plan" has evolved into the private central banking system, and it has come to dominate the economies of the world. A private central bank creates money simply by printing it or entering it as an accounting entry, then lends it to the federal government in exchange for government bonds or debt. Private commercial banks create many more dollars in the same way, advancing money created as accounting-entry loans without even incurring the cost of a printing press. Except for coins, the entire U.S. money supply is now created as a debt to private bankers.4 Banks create the principal but not the interest necessary to pay back their loans, so more money is always owed back than was put into the money supply in the first place. More loans must therefore continually be taken out to cover the interest, spiraling the economy into increasing levels of debt and inflation, in a futile attempt to repay principal and interest on a debt that is actually impossible to repay. The result is "debt peonage," and it has systematically reduced the people to working for the company store, bound to their corporate masters for the food, shelter and health care formerly provided by slave owners under the old physical-slave system.

The Colonial Alternative: The Pennsylvania System of Benjamin Franklin's Day

This is not the only way to run an economy. Until 1913, when the Federal Reserve Act was passed, the European system of debt peonage competed with what was called "the American system" – debt-free government-issued dollars generated by provincial governments to pay their expenses. This "greenback" system was not actually used in the United States after the American colonies became a nation, except during the Civil War; but the "American system" flourished for decades in colonial America. Paper money was issued by local provincial governments not only to pay their own expenses but as commercial loans. The most effective and efficient of these government-issued money systems was in Pennsylvania, where a publicly-owned bank issued paper notes and lent them to farmers. Since this money returned to the government, it did not inflate the money supply; and since the government issued and spent an additional sum of money on public works, enough money was kept in the system to pay the interest on the loans and prevent the debt spiral afflicting the private banking system. The Pennsylvania system worked so well that it completely funded the provincial government without taxes or inflation.

Benjamin Franklin and others maintained that the chief reason for the American Revolution was that Parliament forbade the colonies from issuing their own money. Paper money issued by the Revolutionary government got the colonists through the Revolutionary War, but the British heavily counterfeited this money as a deliberate war tactic, and by the end of the war it had been inflated so much that it was nearly worthless. Fear of inflation led the Continental Congress to completely omit paper money from the Constitution, which does not say who can issue paper money or under what circumstances. The private banks filled the breach, and by 1913 the United States had the same private central banking system that England had.

Today, the pyramid scheme of lending 10 dollars and requiring 11 back has resulted in the very inflationary spiral the Founding Fathers feared. The money supply is inflated with more and more debt, shrinking the value of the dollars paid to workers and propelling larger and larger portions of the population into debt peonage. If the government were to issue its own money rather than borrowing from banks that issued it, and if this money were used to pay for real goods and services (roads and bridges, sustainable energy development, health services, and the like), demand and supply would remain in balance and inflation would not result. A government with a properly designed and monitored system of publicly-issued money could fund itself without taxes, inflation or debt.

Publicly-owned banks are also called "national" banks or "nationalized" banks – the very thing that threatens the private banking system in Ireland today. We have come full circle: a system of national banks is what used to be called "the American system." This may be what we actually need – a public banking system operating for the benefit of the public. The private European system of debt peonage has failed. On this 2008 St. Patrick's Day, we the modern-day Irish of all persuasions can raise a glass to the possibility of being freed from the debt peonage that has kept us wage-slaves for most of our national history.


1 "Irish Banks May Need Life-support as Property Prices Crash," www.telegraph.co.uk (March 13, 2008).

2 "Irish in America," www.essays.cc.

3 "Hazard Circular," 1862, quoted in Charles Lindburgh, Banking and Currency and the Money Trust (Washington D.C.: National Capital Press, 1913), page 102.

4 See Ellen Brown, "Dollar Deception: How Banks Secretly Create Money," www.webofdebt.com (July 3, 2007).


Ellen Brown, J.D., developed her research skills as an attorney practicing civil litigation in Los Angeles. In Web of Debt, her latest book, she turns those skills to an analysis of the Federal Reserve and "the money trust." She shows how this private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. Her eleven books include the bestselling Nature's Pharmacy, co-authored with Dr. Lynne Walker, which has sold 285,000 copies. Her websites are www.webofdebt.com and www.ellenbrown.com.



Go to 12918
http://www.chron.com/disp/story.mpl/ap/fn/5619551.html
March 14, 2008, 9:58AM
Financial Services Firm Facing Lawsuit
© 2008 The Associated Press
WASHINGTON — A group of state and municipal governments, including Mississippi, Chicago and Fairfax County, Va., said Friday they sued multiple financial-services firms, alleging price-fixing and bid-rigging in the municipal derivatives industry.

The suits were filed against 37 financial-services firms, including Merrill Lynch & Co., JPMorgan Chase & Co. and Morgan Stanley.

JPMorgan Chase and Merrill Lynch declined to comment. Morgan Stanley was not immediately available to comment.

In a statement, attorneys representing the government said the defendants conspired to deprive the group of extra money they would have received from their municipal bond investments. The suits, filed in federal court in Washington, allege the price-fixing and bid-rigging dates back to 1992.

Municipal derivatives are used to invest proceeds of municipal bonds.



Go to 12917
http://commentisfree.guardian.co.uk/dilip_hiro/2008/03/powerless_on_oil_prices.html
3/14/08
Powerless on oil prices
Soaring oil prices can no longer be pinned on Opec. Refinery problems and speculators bear much of the blame
With oil prices soaring to $109 a barrel in an election year, the White House is getting jittery. President Bush is despatching vice-president Dick Cheney to Riyadh on Sunday to urge King Abdullah to raise the kingdom's oil output to reverse the price rise.

The chances of Cheney's success are slim: at Opec's quarterly meeting in Vienna last week, where Saudi Arabia is a leading player, the organisation decided against raising production.

In any case, the Bush administration's plea is based on assumptions that are invalid or outdated.

The size of oil supplies is just one factor among others that determine its market price.

An equally important factor is the capacity of refineries to transform crude oil into different end-products, with each refinery designed to process petroleum of certain density, which varies from 15 to 45 degrees, the higher figure signifying lightness.

Mismatch between the available crude oil and the type of refinery leads to bottlenecks, not to mention the total capacity of refineries falling behind the aggregate amount of crude available worldwide. There is nothing that Opec members can do about this.

Following the oil price explosion in 1973-74 - caused by the Arabs reducing their petroleum shipments to the west during and after the October 1973 Arab-Israeli war - Opec acquired the power to set prices and make them stick. But this did not last.

The mid-1970s petroleum price hike made the global economy more volatile than before. The gradual deregulation of the economy in the western nations accelerated when Ronald Reagan became US president in 1981. As a result, futures contracts arose for currencies and gold, with the New York Mercantile Exchange (Nymex) emerging as the leader. In 1981 it added petrol to its list of traded commodities.

In March 1982, due to the continued low oil output in the warring Iraq and Iran, non-Opec production outpaced Opec's. Much of the non-Opec's new petroleum came from the North Sea and was sold on Rotterdam's spot market, where the price was determined by a variety of market factors.

This made it hard for Opec to maintain its reference price of $34 a barrel. In early March 1983, yielding to market forces, it slashed the price for the first time by 15% and reduced output.

On March 30, 1983, Opec's power to determine oil price received a fatal blow. That day Nymex introduced futures in petroleum. That meant the oil price being fixed daily, determined by the give-and-take of Nymex traders, with buyers and sellers monitoring their computer screens worldwide.

A futures contract is a promise to deliver a given quantity of a standardised commodity at a specified place, price and time in the future. It is a derivative, not the real thing. There are thousands of oil transactions daily, but few of these shipments are delivered. Instead, they are constantly re-traded, based on the market price of the moment. That is, the rights to a single barrel of oil are bought and sold many times over, with the profits or losses going to the traders and speculators.

Given the current weakness in the equity markets, the falling value of the dollar, and the credit crunch caused by the sub-prime mortgage crisis in the US, speculators are putting their funds into such safe havens as gold and oil, spiking up their prices.

There is nothing that the Saudi monarch or the rulers of other Opec member states can do to reverse this situation.



Go to 12916
http://www.larouchepub.com/eirtoc/1995/eirtoc_2249.html
Volume 22, Number 49, December 8, 1995

Special Report
Who Is Responsible for the
World Food Shortage
The grain transport breakdown is but one recent example of breakdown in the food supply in what is considered the most food-secure nation in the world, and illustrates the fact that "natural disasters"—bad weather, floods, droughts—are not the cause of the world's food crises.

World Food Shortage Follows
Imposed Import-Dependency
By John Hoefle and Marcia Merry Baker.

Kissinger's 1974 Plan for Food Control Genocide
The infamous NSSM 200 revisited.

The Windsors' Global Food Cartel:
Instrument for Starvation
Ten to twelve pivotal companies, assisted by another three dozen, run the world's food supply.

Control by the Food Cartel Companies:
Profiles and Histories
The Cartel 'Experts' Decide Who Eats
Profiles of Lester Brown and Dennis Avery.



Go to 12915
http://www.palmbeachpost.com/localnews/content/south/epaper/2008/03/12/0312vouchers.html
Hundreds seeking housing money overwhelm Boca Authority
By KEVIN DEUTSCH, GRETEL SARMIENTO and LONA O'CONNOR

Palm Beach Post Staff Writers

Wednesday, March 12, 2008

BOCA RATON — A crowd of more than 500 people waiting for hours this morning for housing voucher applications were dispersed by police in riot gear at the Boca Raton Housing Authority when the applications ran out sooner than expected.

The action prompted complaints that officers used excessive tactics and housing authority officials were incompetent in their planning.

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Two people were arrested and six to eight people hospitalized for exhaustion during the ordeal.

Hundreds of people, mostly mothers who had spent more than eight hours in line, were forced to leave the property at 2333 W. Glades Road by 30 Boca Raton Police officers, including SWAT team members, who walked toward the crowd in unison holding their police shields up about 10:30 a.m.

"Leave or face arrest," police officers shouted at the crowd as they urged them out of the housing authority parking lot. People were made to leave the vicinity altogether, with officers forcing them to cross the street and move toward their cars.

The overwhelming turnout of people desperate for housing money came as little surprise to Suzanne Cabrera, president of the Housing Leadership Council of Palm Beach County.

"This is an indication that housing it's still a huge problem," Cabrera said this afternoon. "It's a reflection of people's concern for housing, their uncertainty. I got people today asking me: was this my last chance to get housing I can afford?"

Several other things, such as mortgage foreclosures and high gas prices, are contributing to that feeling of insecurity and desperation, she said.

So whenever word gets out that voucher applications are being handed out, which she said doesn't happen very often, people get full of hope.

Judith Aigen, executive director of the city's housing authority, said once applicants meet the economic and background requirements, those who get a voucher technically must live within Boca Raton for one year, but housing agencies in Palm Beach County have a "hand-shake agreement" allowing people with vouchers to live anywhere in the county during that year.

A study the council conducted Jan. 29 shows the number of people needing housing is still pretty high.

"Housing is still as valid a concern as it was when we lived in different times," Cabrera said.

Police had been at the housing authority since about midnight, a few hours after people started lining up outside for Section 8 housing voucher applications.

Some people lay down blankets and pillows to camp out until 9 a.m., when the housing authority had advertised they would hand out applications.

The line was already hundreds deep, so police asked Aigen to come to the property.

"There were traffic issues, disabled people who couldn't breathe well, children standing in line," she said.

The agency, worried about the size of the crowd, decided about 2 a..m. to hand out about 500 applications and reserve a few for later.

"We didn't expect so many to show up," Aigen said. "We thought we had enough area to accommodate all the people. It was not a good judgment call. The neighborhood wasn't equipped."

But handing out the applications early did nothing to stem the flow of potential applicants.

By 10 a.m. the crowd had swelled to more than 500 people, with most unaware that the bulk of applications had already been passed out.

The parking lot was a mass of women nursing crying babies, pushing strollers and waiting anxiously for officials to give them information.

People grew agitated. Several fights broke out. Police and firefighters said they were prepared if things were to turn violent on a large scale. Nearly 50 firefighters and paramedics from the city, county and Delray Beach set up across the street in the Town Center mall parking lot.

Then an official came out of the housing authority building and announced through a megaphone that disabled people should come forward.

Instead, the entire crowd surged forward. People fell down and were close to being trampled, witnesses said.

"That's when all hell broke loose," said Shannon Pierce, 26, of Lake Worth. Pierce, who is six months pregnant and had been waiting in line since 6 a.m. "We almost got trampled over."

Authorities decided to shut things down.

Police told the crowd they had to leave. Angry and disappointed, many of those waiting stalked off.

Those who remained were soon dispersed by police in riot gear, many shouting and complaining.

"Frustration builds after you have been in line for hours," said Robert Nelligan, Boca Raton Fire Rescue division chief. "Then you are told 'no.' Emotions can take over."

Angelica Rivera, a 28-year-old mother of five who had been pleading with officers to let her drop off her housing application, refused their orders to leave the property. She was handcuffed and dragged off to a police van, charged with disorderly conduct, disobeying a lawful order and resisting without violence. A second person was booked on similar charges.

In general, however, the crowd broke up peacefully. Many people remained on the scene, but off of authority property.

"We think we handled it with restraint," said police spokeswoman Sandra Boonenberg. "We had good communication with the people, the crowd cooperated, and we avoided any negative issues. We were very pleased with the way it was done and that nobody get hurt."

"If we can control the situation by our presence, that is the best possible outcome."

Most of the crowd disagreed.

"We're all working people and we're all bitter right now," said Deborah Davis, 37. "To be turned away like this hurts."

People in the line said they came overnight, from as far away as Riviera Beach and Pahokee, to apply for the housing subsidy.

"I'm very angry," said Nora Jones, 55 from Lake Worth, who said she had been there since 5 a.m. "Very disappointed. It's so unorganized. They are asking everyone to leave."

Amanda Palmer, 23, waited in line for hours with her 3-month old daughter. Palmer is staying in a maternity home, from which she must move out by June.

"That's why I'm here. This is my first child," Palmer said. "We really need it."

Shayla Williams, 22, of West Palm Beach, was angered by the police tactics.

"This place is going to get shot up later," she yelled to officers. "They can't treat us like this."



Go to 12914
http://www.naturalnews.com/022836.html
High-fructose corn syrup, high fat diet cause severe liver damage
March 13, 2008 by: David Gutierrez
NaturalNews) A diet high in fat and in high fructose corn syrup may cause severe liver problems in people with a sedentary lifestyle, according to a study conducted by researchers from Saint Louis University and presented this year at the Digestive Diseases Week meeting in Washington, D.C.

Researchers fed mice a diet that was 40 percent fat and high in high fructose corn syrup for 16 weeks. In contrast to other studies, where mice have been fed a regulated amount, the animals in the study were allowed to eat as much as they wanted. They were kept sedentary and prevented from exercising.

"We wanted to mirror the kind of diet many Americans subsist on, so the high fat content is about the same you'd find in a typical McDonald's meal, and the high fructose corn syrup translates to about eight cans of soda a day in a human diet, which is not far off with what some people consume," said Brent Tetri, M.D., an associate professor of internal medicine at Saint Louis University Liver Center.

To the researchers' shock, it took only four weeks for the first signs of serious health problems to emerge.

"We had a feeling we'd see evidence of fatty liver disease by the end of the study," Tetri said. "But we were surprised to find how severe the damage was and how quickly it occurred. It took only four weeks for liver enzymes to increase and for glucose intolerance -- the beginning of Type 2 diabetes -- to begin."

According to Tetri, preliminary research suggests that fructose actually suppresses the body's feeling of fullness, whereas foods rich in fiber activate it. This meant that the mice didn't know when to stop eating, even though their diet was exceptionally high in calories.

High fructose corn syrup is a widely used sweetener, particularly in the United States, where corn is cheap and sugar importation is expensive.

"A high-fat and sugar-sweetened diet compounded by a sedentary lifestyle will have severe repercussions for your liver and other vital organs," Tetri warned.



Go to 12913
http://www.rense.com/general81/watching.htm
Watching The Dollar Die
By Paul Craig Roberts
3-14-8

I've been watching the dollar die all my life. I sometimes think I will outlast it.

When I was a young man, gold was $35 an ounce. Today one ounce gold bullion coins, such as the Canadian Maple Leaf, cost more than $1,000.

Our coinage was silver. Our dimes, quarters, and half dollars had purchasing power. Even the nickel could purchase a candy bar, ice cream cone or soft drink, and a penny could purchase bubble gum or hard candy. If a kid could collect 5 discarded soft drink bottles from a construction site, the 2 cents deposit on the returnable bottles was enough for the Saturday afternoon movie. Gasoline was 32 cents a gallon. A dollar's worth was enough for a Saturday night date.

Our silver coinage was 90 per cent silver. People sometimes melted coins in order to make silver spoons, known as coin silver, which can still be found in antique shops. Except for the reduced silver (40 per cent) Kennedy half dollar which continued until 1970, 1964 was the last year of America's silver coinage. The copper penny departed in 1982. As Assistant Secretary of the Treasury, I opposed the demise of America's last commodity money, but I couldn't prevent the copper penny's death.

During World War II (1941-1945), nickel was diverted from coinage to war, and the US mint issued a wartime silver (35 per cent) nickel.

It is not easy to find items to purchase with today's US coins, but the silver coins of the same face value still have purchasing power. The 10 cent piece of my youth contains $1.42 worth of silver at today's silver price. The quarter is worth $3.55, and the half dollar contains $7.10 of silver. The silver dollar is worth 15.2 times its face value. These are just the silver values of coins that might be worth far more depending on condition and rarity. The silver in the wartime nickel is worth $1.10, which is 22 times the coin's face value. Even the copper penny is worth 2.5 cents.

When I was a young man enjoying travels in Europe, the German mark or Swiss franc traded four to one US dollar. The euro, which is today's equivalent to the mark, costs $1.55.

People who haven't accumulated much age have little idea of the corrosive power of "acceptable" inflation. Unlike gold and silver, fiat money has no intrinsic value. When money is created faster than goods and services it drives up prices, thus driving down the value of the money. If freely traded currencies are excessively printed or if inflation, budget deficits, and trade deficits drive currencies off their fixed exchange rates, prices of imports rise as the foreign exchange value of the currency falls.

Today the US, heavily dependent on imports, is subject to double-barrel inflation from both domestic money creation and decline in the dollar's foreign exchange value.

The US inflation rate is about twice as high as the government's inflation measures report. In order to hold down Social Security payments, the government changed the way it measures inflation. In the old measure, inflation measured the nominal cost of a defined standard of living. If the price of steak rose, up went the inflation rate. Today if the price of steak rises, the government assumes that people switch to hamburger. Inflation doesn't go up. Instead, the standard of living it measures goes down.

This is just one of the many ways that the government pulls the wool over our eyes.

With the dollar value of the euro rising through the roof, today a vacation in Europe is far more costly than in the past. Thanks to China, so far Americans have been sheltered from the greatest effects of the dollar's declining value. Our greatest trade deficit is with China. The prices of the goods from China have not risen, because China keeps its currency pegged to the dollar. As the dollar goes down, China's currency goes with it, thus holding down price rises.

The resignation of Admiral William Fallon as US military commander in the Middle East probably signals a Bush Regime attack on Iran. Fallon said that there would be no US attack on Iran on his watch. As there was no reason for Fallon to resign, it is not far fetched to conclude that Bush has removed an obstacle to war with Iran.

The US is already over stretched both militarily and economically. An attack on Iran is likely to be the straw that breaks the camel's back.


Paul Craig Roberts was Assistant Secretary of the Treasury in the Reagan administration. He was Associate Editor of the Wall Street Journal editorial page and Contributing Editor of National Review. He is coauthor of The Tyranny of Good Intentions.He can be reached at: PaulCraigRoberts@yahoo.com



Go to 12912
http://www.rense.com/general51/am.htm
The Overthrow Of The
American Republic
Part 52
Domestic Insurrection?
by Sherman H. Skolnick
4-14-4

Petitions for Redress of Grievances, if provided with no remedy, often lead to open grumbling and dissidence. And that, in turn, can lead to "Domestic Insurrection" directed against the Central authorities. If allowed to fester, these events could lead to "Revolution" directed against the Aristocracy, by the MiddleIncome/MiddleClass whose aspirations have been cut off.

Some disquieting developments:

1. By way of the year 2000 Presidential Election, the duly elected U.S. President, NOT inaugurated, is Albert Gore, Jr.

2. Installed as the occupant and resident of the White House, has been George W. Bush. This was arbitrarily and corruptly arranged by a five-Judge Military-Style Junta of the U.S. Supreme Court. [Visit the more recent parts of my website series, with court documents attached, "Coca-Cola, CIA, and the Courts".]

3. Called Bushfraud by critics and dissidents, Bush, Jr., recently accused Albert Gore, Jr., of fomenting a purported "Domestic Insurrection" calculated, Bush contends, to cause the arrest for treason of purported Commander-in -Chief Bush.

4. While ostensibly not openly admitting or denying these matters, Gore reportedly informed Bush, or caused Bush to be so informed, that if Bush does not like it, Bush could purport to dare to take some action.

5. Bush is agitated by various happenings. Such as reports that a growing group of Admirals and Generals, known as "flag officers", have been considering to arrest Commander-in-Chief Bush for treason, as authorized by the Uniform Military Code. If Bush causes them to be arrested for mutiny, if they are not assassinated, they contend they will defend themselves at Courts Martial with irrefutable documents showing Bush, and his father, have committed acts of treason against the U.S. Constitution and the American people.

6. George W. Bush is openly against a free market place of ideas, Freedom of Speech and of the Press, and the right of the people to peaceably assemble and to Petition the Central Government for Redress of Grievances. [Guaranteed by the First Amendment but unlawfully cancelled by the purported Patriot Acts instigated by the Bush Crime Family.]

7. In violation of the Declaration of Independence, Bushfraud "has erected a Multitude of new Offices, and sent hither Swarms of Officers to harass our People, and eat out their Substance", establishing a Nazi-like American Gestapo, supposedly for Homeland Security, to punish and silence opposition to his dictatorial and corrupt domestic and imperialistic foreign policies, bankrupting the public Treasury and embezzling the Public Trust Funds of the elderly, disabled, infirm, and impoverished.

8. The Bush White House, with his Rasputin, Karl Rove, asserts that Chicago is, among other places, a center of such dissent along with Los Angeles and elsewhere. To squelch such opposition, Bush has reportedly instigated certain events.

(a) in opposition to the oil-soaked, spy-riddled monopoly press, there has been formed a progressive, anti-war-mongering media operation, known as Air America Radio Network. Most if not all of their radio broadcast links have been somehow, as of this moment, silenced.

(b) some contend this may be somewhat more than a mere contract dispute with a parent firm of the broadcast outlet. Although the monopoly press, in respect to Air America Radio Network being silenced, states it purports to be a contract dispute; some nevertheless contend it is caused by the Bush White House invoking supposed "War Powers" to take Air America Radio Network OFF THE AIR for reasons of so-called "national security". That is, criticizing the President/Commander-in-Chief at a time of supposed "war", yet no Declaration of War by Congress against Iraq.

(c) As to his oil seizure/financial and military-secret treachery, Bush is being apparently blackmailed by Vicente Zorro (head of Mexico, also known as Vicente Fox, once head of Coca-Cola/American CIA operations in Mexico, Central America, and some South America dope countries, Peru, Ecuador, Colombia, and Bolivia).

Part of Zorro's arm-twisting of Bushfraud is that Bush should arbitrarily pave the way for Mexico to annex portions of southwest United States, as territory of Mexico, including but not limited to southern California (to be split away from northern California), New Mexico, Arizona, and Colorado, among other states. [Described in some of my earlier website stories as the Breakaway States of the disunited States of America. A sort of wrecking apart of the U.S. of A., like the CIA did to the Soviets, using a huge quantity of superior quality counterfeit Rubles, the Soviet currency, to knock-down the Moscow government, 1990-1991.]

9. Bushfraud seeks to cover up a huge derivative scandal of oil/gold/soybean manipulation done through Bank of America and their parent firm, Bank America. Tens of trillions of dollars of these out-of-control speculations are done by the bank and its parent firm, owned principally by the Jesuits (through the highly sinister(not racial) so-called "black pope", the Rothschilds, and more recently as a major owner, the Japanese underworld, the Yakuza. According to published accounts, Bushfraud's uncle, Prescott S. Bush, Jr., has vast joint business with the Japanese mafia and the Chinese Secret Political Police. [As to "Yakuza" and uncle Prescott, consult numous items at www.google.com]

10. So far, not sufficiently reported or analyzed, two huge mortgage pools, not actually guaranteed by the Full Faith and Credit of the U.S. Treasury, are Freddie Mac and Fannie Mae. And Bushfraud and his Treasury fakers are covering this us. Some more independent-minded auditors contend these two mortgage monsters are either already technically bankrupt or headed that way. It has vast, sinister meaning for the over-blown U.S. mortgage and real estate markets. Some aver that a residential real estate bust is soon around the corner.

So, is a "Domestic Insurrection" in the works, or soon upon us, or around the corner? Are any other uncensored broadcast facilities, IF ANY exist within the U.S. also subject to being taken off the air for reasons of supposed "national security", that is, to prevent discussion of Bushfraud's treason?



Go to 12911
http://www.rense.com/general81/kingpins.htm
One Down (Spitzer) - 100
More 911 Kingpins To Go
By Douglas Herman
3-13-8

Lots of crocodile tears shed for the former "fallen" governor, Eliot Spitzer. Lots of laughter too, thanks to the sexual jokes of late night talk show hosts and the millions of lewd and rude comments on Internet forums. Lots of hand wringing and head-shaking too, especially from the so-called progressive new sites, like the New York Times and the Huffington Post, bemoaning the fate of the so-called liberal reformer.

At Huffington Post, Alec Baldwin penned a lament called: Reflections On A Fallen Hero, while columnist Nora Ephron wailed, predictably: "So goodbye. I feel sad. I liked him. It's tragic."

Tragic? Certainly, but not in the way these highly paid pundits think.

Funny how so many of these otherwise intelligent people, many of them NEW YORKERS, hardly realize that their former attorney general, Eliot Spitzer, ignored and, indeed, possibly conspired in the 911 mass murder that took the lives of nearly 3,000 New Yorkers. Truly New Yorkers must either be some of the dumbest people in the world or those most in denial.

According to Jon Gold: "In November of 2004, an independent inquiry into the events of 9/11 entitled 'Citizens' Complaint & Petition' was submitted to Eliot Spitzer's office. This document contained great detail about the glaring questions still unanswered and listed damages suffered by so many people. There were 100 signatures from prominent Americans such as Howard Zinn, Daniel Ellsberg, Ralph Nader, John Gray, Ray McGovern, Medea Benjamin, and Ed Asner. The Complaint also had 48 victims' families as signatories. Spitzer's top prosecutor, William Casey, personally received the document. However, this has been met with a deafening silence. No action was ever taken."

What-or who-- was this so-called reformer trying so desperately to hide? Whose involvement in the crime and why?

According to journalist and publisher Sander Hicks, the former governor was no white knight, no reformer, no caped crusader, but rather a deep dark shadowy figure on a sinister steed. Exactly the sort of the duplicitous, cowardly, hypocritical poseur he eventually was revealed to be. If it took a hooker to take him down, so be it and thank God. One down, and another hundred shadowy characters to go.

Do a simple Google search of Who Did It?-- Conspirators and scroll down the list of benefactors, while asking yourself why didn't Spitzer do his damn job?

Hicks reported: "In 2004, Eliot Spitzer was asked to investigate 9/11 by 66% of New Yorkers. Those pleas were ignored."

Added Hicks, in an earlier feature for the New York-based Megaphone: "His own attorney general, Andrew Cuomo, (then) investigating the governor's office's misuse of state troopers to monitor political rival Joe Bruno. To minority leader James Tedisco, Spitzer recently snapped, 'I'm a fucking steamroller, and I'll roll over you.' "

Steamroller? Of course the current karmic steamrolling of Spitzer won't bring back a single dead New York firefighter or the fading health of a single first responder.

Added Hicks, of the shady deals behind the 911 tragedy: "Silverstein put up only $14 million of his own money, (to acquire the WTC complex) and his friends at the powerful investment bank Blackstone Group kicked in another $111 million. After 9/11, Silverstein demanded a whopping $7 billion insurance payout, in the form of two $3.5 billion payment. Spitzer got involved behind the scenes, filing a "friend of the court" brief on Silverstein's behalf. The court ended up agreeing with Spitzer and Silverstein, over-turning the decision of a lower court. Spitzer helped midwife a fat compromise and an eventual $4.5 billion payout for Silverstein."

Funny, in every major crime, EXCEPT 911, investigators are always instructed to follow the money and conclude just who exactly benefits.

World Trade Center Building 7, ostensibly a US government building, victim of several suspicious fires (Arson?) and soon evacuated on 911, collapsed at 5:20 PM without being hit by an airplane. According to Hicks, 37 eyewitnesses working on the ground as firefighters, first responders and reporters recalled being warned in advance that WTC-7 was coming down. The official story determined a fire ignited a fuel tank in the building, resulting in a sudden collapse at the free fall speed of gravity.

"WTC 7 was the NY headquarters of CIA and the SEC office investigating Enron," said Hicks.

So why didn't the New York state attorney general, Eliot Spitzer, demand a full investigation? Why, conversely, did Spitzer literally serve as a whore for private citizen Silverstein in secret, rather than serve his public duty as top cop? Petitioners demanded he do his sworn duty. Instead the so-called reformer looked the other way, retired to the Mayflower hotel to be serviced by a gilded hooker, and shafted American citizens.

In truth, Spitzer is only one of more than a hundred powerful and well-connected "persons of interest" involved in some way with the 911 crime and subsequent cover up. A person of interest is someone detectives interview to get the bigger picture and hopefully apprehend the true criminals. Not surprisingly, for lack of evidence, the FBI no longer considers Osama bin Laden the mastermind behind 911.

Spitzer, had he done his duty at any time in his career, might have helped solve a perplexing crime rather than muddy the waters, Some will claim that was Spitzer's sole purpose.

Many top New York officials, former and current, also share Spitzer's murky connection to the 911 crime and the aftermath. Wrote John Albenese: "Bernard Kerick was having affairs in a hotel room overlooking ground zero! How romantic! Where was his summer home, overlooking Auschwitz?"

Meanwhile millions of gossip-starved Americans hotly debate the predicament of Spitzer's former call girl, 'Kristen.' I'd predict a quarter million dollar spread in some men's magazine and a million dollar book deal. Crime does pay, extremely well, a lesson learned well on 911.

Crime writer, crime fighter and bullshit detector, Douglas Herman writes for Rense regularly and lives in Bullhead City.



Go to 12910
http://www.infowars.com/?p=791
Food Riots in Egypt

Al Jazeera
March 13, 2008

The UN secretary general has warned that millions of people are at risk of starvation as global food stocks have fallen to their lowest levels for decades.

In a letter to a US newspaper Ban Ki Moon warned that shortages are forcing prices to rise which may have devastating consequences for the world’s most vulnerable communities

The most acute effects have been seen in Egypt, where thousands of people have resorted to violence due to shortages of basic food commodities and rising food prices.

At least 10 people have died over the past two weeks, in riots that erupted at government subsidised bakeries.

The unavailability of basic food products such as bread, rice, sugar and cooking oil, coupled with high food prices has led many to protest against the Egyptian government and resort to violent tactics.

National crisis

An Egyptian man said: “People are fighting. Killing for bread, some are even pulling out knives. What is happening? What is this? Famine? ”

Another woman, waiting at a government bakery said: “I’ve been standing here from 7am. Its now 2pm and I can’t get hold of even one loaf of bread.”

“I have five children. What am I supposed to do? You now need to bribe someone to get bread, if you do not want to get trampled on.”

Egypt is one of the world’s largest importers of wheat and this year alone spent $2.6 billion on its wheat-import.

However, soaring food prices has driven many Egyptians to the brink of starvation.

Al Jazeera’s Jamal El Shayyal reported from Cairo, that people were demanding drastic measures to be taken and wanted the military to be called in, to solve the food crisis.

An Egyptian waiting in a queue for bread, said: “The army is the only power capable to plant the people’s wheat. We want the government to distribute the wheat fairly amongst the poor.”

Meanwhile, the Egyptian government has added an additonal 15 million names to the register of people who are eligible to receive subsidies on basic products such as sugar, rice and oil, which has compounded the problem.

Egyptians are demanding for the regular availability of basic food products and a cut in the price of essential commodities.

Global phenomena

The shortage of food has now assumed a global dimension; some 73 million people in 78 countries depend on the United Nations World Food Programme (UNWFP).

According to their figures, 1 out of every 80 person relies on somebody else to provide for basic food requirements.

Most of these handouts are taking place in Africa, Asia and Central America, but developed countries are feeling the impact for the first time as well.

Rice, corn, dairy and poultry products are the worst affected commodities,around the globe.

Multiple factors

Marcus Prior, spokesman for the World Food Programme in East Africa said, that there were multiple factors contributing to this global crisis.

“There are a number of elements that have all come together at the same time,” he told Al Jazeera.

“Perhaps, the most important is the rise in global fuel prices, which is having a chain-reaction effect through the food production system. Right from the cost of input such as fertiliser and seeds, through the harvesting and the storage and delivery process.”

Prior said that there has been an enormous increase in the demand from booming economies such as India and China.

“People there are eating a lot more meat than they used to,” he said.

The UNWFP said another key factor contributing in the global decrease of productivity was weather irregularities all across the world.



Go to 12909
http://www.realjewnews.com/?p=173
JEWS & THEIR $$$ CONTROL ENGLAND & the entire United Kingdom, & all of Europe as well.

Here Is A List Of The Top 8 Jewish “Dictators” Of Present Day England:

1. ‘Lord’ Jacob Rothschild: (Born 1936) Chairman of N.M. Rothschild & Sons in London which has 47 offices world wide. He is also Chairman of Rothschild Investment Trust.

~ Rothschild Investment Trust has predominant holdings in companies such as Royal Dutch Shell Petroleum; Vickers of England (the world’s largest munitions factory); Shinsei Bank of Japan; Vivendi Universal Media of France; Laesquadra Copper Mines of Mexico; The Economist News; Lukoil; Deutsche Börse Group of Frankfort Germany (dominates European securities trading); DeBeers Mining; and Phelps Dodge Copper Mines; all HERE.

~ Jacob Rothschild is also Chairman of the Jewish Agency & the Rothschild Foundation which donated the Knesset building and the Supreme Court to Israel. The Jewish Agency & the Rothschild Foundation built and supports numerous Israeli settlements.

# England’s politicians know where to stand on the issues so as to please the Jew, ‘Lord’ Jacob Rothschild.

2. ‘Lord’ David Wolfson: ‘Knighted’ (Jew $$$ is ‘honored’) in 1984. Former Chief of Staff to Margaret Thatcher from 1979-85. Served as Chairman for Jewish-run corporations such as Great Universal Stores & Fibernet.

~ Wolfson was instrumental in building Oxford University’s Centre For Hebrew & Jewish Studies.

3. David Pearl: Chairman of the Structadene Group. The Structadene Group has a huge portfolio of commercial properties throughout England.

4. Alex Brummer: Editor of England’s ’s 2nd largest daily newspaper the Daily Mail. Prior to his new position at the Daily Mail in 2000, Brummer was the Financial Editor of the Guardian.

~ Brummer is a regular writer for the Jewish Chronicle. Brummer is a regular speaker at major Jewish events. Brummer writes extensively on the Holocaust & Middle East policy.

# England’s politicians know where to stand on the issues so as to please the Media-Jew, Alex Brummer.

5. David Lewis: Multi-million dollar hotelier in England. Known abroad for building hotels in Israel’s Eilat “vacation spot” for the Jewish “jet set” while Palestinian children’s faces are being burned by US-made cluster bombs.

6. Ian Marcus: Chairman of European Real Estate Investment Banking Group at Credit Suisse, one of the world’s leading banks.

~ The Group’s role is to co-ordinate all of the real estate activities of Credit Suisse throughout Europe. Marcus is also President of UK’s trade body, the British Property Federation.

7. ‘Sir’ Victor Blank: Chairman of Lloyds TSB International Banking Group. Former Director of The Royal Bank of Scotland.

~ Blank chairs United Jewish Synagogue’s Hillel College Outreach and is involved with the Labour Friends of Israel. Blank is also on the Board of Governors of Tel Aviv University. Blank is an active promoter of business links between the UK and Israel.

8. Simon Reuben: Founder of Trans-World Metals the world’s 3rd largest producer of aluminum.

~ Reuben exploited the frantic selling in the aftermath of the collapse of the Soviet system when Russian aluminum smelters were incapacitated by debt due to Harvard University’s Jeffrey Sach’s (a Jew) hyper-inflationary program of “economic shock therapy” for post Soviet Russia Here.

~ By Reuben buying up half of Russia’s aluminum industry he now has an estimated wealth of £3.25 billion. Reuben is founder of the Reuben Foundation which supports Zionist causes around the globe.



Go to 12908
http://judicial-inc.biz/83fallon_was_born_in_east_orange.htm
Fallon Was In Charge Of General Petraeus - 'The Perfumed Prince'

The General picked to succeed Admiral Fallon is a Zionist, who spends his tour in a Baghdad palace, in the fortified Green Zone.

Fallon Questioned Mysterious Bombings

He quickly sniffed out the brutal market attacks, university bombs, and civilian attacks, as the work of a third party. The assassination of Iraq's intelligentsia by Death Squads was an obvious genocide that only benefited

US Soldiers Ambushed

Fallon was not a bagel-munching Neo-con flunky. He became irate over the numerous sophisticated ambushes of American troops.

Bush Sends Eight Carriers To Iraq

Bush ordered eight carriers to steam to Iraq, and Fallon sniffed an attack.

The Sacrificial Lamb

After Bush requested the soon-to-be-retired, 46 year-old Kitty Hawk, to the Straights of Hormuz, Fallon had his fill.

He, and fellow officers, were not going to be part of that crew dying like the sailors of the USS Liberty.

The Unquestionable Commander

When history books are written about WW3 and the Persian Gulf false-flag carrier attack, you need an impeccable commander. Tommy Franks is a grandson of a Russian Zionist immigrant, who arranged security for the Baghdad museum looting. General Abazaid was a Semitic Christian Maronite. These wouldn't do.

Admiral Fallon, a soldier's soldier, was picture perfect.



Go to 12907
http://www.321energy.com/editorials/dorsch/dorsch031408.html
Global "Oil Shock" Rattles World Stock markets
Gary Dorsch, Editor, Global Money Trends
March 14, 2008
editor@sirchartsalot.com

Cleaning up the mess that Mr Greenspan left behind was never going to be easy. Banks and brokers around the world face more than half-trillion dollars in write-offs as a consequence of the US sub-prime mortgage crisis, which is spreading from the US property market and roiling global stock markets. It’s toppled the US economy into a recession and the tremors are also rattling Asian stock markets.

Roughly $7 trillion has been wiped from world stock markets since the beginning of the year amid fears of a severe US economic recession and financial institutions reporting more mega losses. “The market crisis will preoccupy us well into 2008,” he said German Finance Minister Peer Steinbrueck on Feb 15th. “The financial risks securitized by banks contained packaged explosives,” and he accused rating agencies of having a conflict of interest in the role they played in the process.

So far, the Bernanke Federal Reserve has pumped more than half-a-trillion dollars into the markets with open market operations and special emergency lending schemes, to help cushion the blow to the US economy and stock markets. However, there’s evidence that the Fed’s prescription for dealing with the sub-prime debt crisis, is actually making matters much worse, and leading to “Stagflation.”

As the Fed’s rate cuts and massive money injections filter through the financial system, it weighs heavily on the US dollar, and in turn, a weaker dollar inflates huge bubbles in the global commodities markets. Fund managers have already poured an estimated $200 billion into commodities across the board, as a hedge against the explosive growth of the world’s money supply, competitive currency devaluations, and the negative interest rates engineered by central banks.


The price of crude oil was trading near $70 a barrel as recently as last August, when the Fed suddenly jolted the markets, by lowering its discount rate to 5.75% on Aug 17th, timed to squeeze short sellers in the stock market, on options expiration day. The Fed’s abrupt shift towards easy money fueled a 1,500-point rally for the Dow Jones Industrials over the next two months to a record high of 14,100.

But the stock market’s “irrational exuberance” didn’t last long, once the unintended consequences of the Fed’s rate cuts, a - Global “Oil Shock” – began to settle in. In trying to rescue the Dow Jones Industrials from the claws of a grizzly bear market, the Fed has sacrificed the US dollar, and in turn, ignited a powerful surge in the price of crude oil to $110 /barrel. And most US recessions in the post-World War II era were preceded by sudden spikes in oil prices.

On Feb 15th, Fed chief Ben Bernanke played down the threat of spiraling energy and food prices, saying “inflation expectations remain reasonably well anchored,” then signaled another rate cut in March, as an “insurance policy to head off an economic recession.” Since then, the price of crude oil has surged $17 /barrel, and is wrecking havoc on Wall Street and other major stock markets around the globe.


Global investors are plowing money into crude oil, because the longer-term fundamentals are bullish. The International Energy Agency is predicting that global oil demand will rise 2% this year to a record 87.5 million barrels per day. And a growing number of oil investors subscribe to the “Peak Oil” theory that holds to the belief that the global oil supply has already maxed out at 85 million per day.

The “Peak Oil” theory refers to the inevitability of a peak in global oil production. Oil is a finite, non-renewable resource, and once half of the original reserves are depleted, oil production is likely to stop growing and then begin a terminal decline. Of the 65 largest oil producing countries in the world, 54 are past their “Peak Oil” production and are now in decline, including the USA, down 11% since 1971, and the UK’s North Sea down 27% since peaking in 1999.

Other big oil producers in decline include Australia, down 26% since 2001, and Norway, down 13% since 2001. The Cantarell oil field, Mexico’s largest has also peaked with its output falling to 1.7 million bpd in 2007, down from its peak output of 2.1 million bpd. Thus, global oil demand is expected to exceed supply in the second half of this year, and the oil deficit will only grow wider in 2009, unless the global economy sinks into a sharp recession.


It’s increasingly obvious that the Fed is targeting the stock market, and is trying to put an artificial floor under the Dow Jones Industrials at the 11,650 level, similar to central bank intervention in the foreign exchange market. “We have the tools,” said Fed deputy Donald Kohn on Feb 26th. “As Chairman Bernanke often emphasizes, we will do what is needed, to respond to difficult times,” he said.

But former US Treasury secretary Robert Rubin was once asked by his boss Bill Clinton, if he could be re-incarnated, what would he like to be? Rubin replied, “The bond market, because it controls everything.” Nowadays, the “bond vigilantes” are asleep in a coma, and unlikely to be resurrected anytime soon. Emerging in their place however, are the “crude oil vigilantes” who jack up the price of “black gold,” whenever the Bernanke Fed turns up the printing presses.

Thus, attempts by the Bernanke Fed to jig up the stock market with a money injections, are short-circuited, by the “crude oil vigilantes”. And the OPEC cartel recognizes the Fed’s sleight of hand, and wants to be compensated for a weaker US dollar, with higher oil prices. “The oil market will stay above $100 during the current financial year,” said OPEC chief Chakib Khelil on March 10th. “The factors driving the market include speculation, geopolitical tensions, particularly the Iranian nuclear affair, and the crisis between Venezuela and Exxon-Mobil,” he said. However, “oil prices could retreat in 2009 with a recovery of the US dollar in foreign exchange markets and the election of a new US president.”


Shanghai Red-chips Rattled by “Peak Oil”


China emerged as an economic superpower amid the fastest industrial revolution the world has ever seen. China’s economy has grown at 10% or more a year since the 1990’s, and is expected to surpass Germany to become the world’s biggest exporter, after sales of $1.2 trillion abroad in 2007, and reaping a staggering $262 billion trade surplus. China alone contributed 20% of the world’s economic growth last year.

It only took the Shanghai red-chips slightly more than 2-years to gain 500% from below 1,000 in June 2005 to above 6,000, while the Nasdaq bubble returned 240% in less than two years to reach the record of 5,000 in March 2000. The Shanghai index reached a P/E ratio of 68, identical to the Nasdaq’s P/E right before the tech-bubble burst. The combined market capitalization of the Shenzen and Shanghai exchanges hit a high of $3 trillion dollars, or 115% of China’s $2.6 trillion GDP.


Chinese exports to the US have been a key driver behind the highly volatile Shanghai red-chip market. Exports to the US peaked at a record $21.7 billion last November, but then tumbled to $15.5 billion in February. Chinese exports typically fall sharply in February, during the New Year holiday, when factories close for at least two weeks. But for the first time this decade, Chinese exports to the US were 5% lower on a year-over-year basis, indicating that an economic recession in the United States is beginning to chip away at demand for Chinese exports.

But China’s Achilles heel is its voracious appetite for oil. China accounted for half the rise in global oil use this decade. Its industrial revolution led by construction and manufacturing, is highly energy-intensive, and a major reason why crude oil is above $100 a barrel. But with crude oil and other commodity prices spiraling higher, its mammoth trade surplus is narrowing, exporter profit margins are shrinking, and China’s economic output is descending into single digits.


China ranks as the world’s #2 oil consumer after the US, and demand is expected to grow 500,000 bpd annually in coming years, driven by industrial growth and consumer demand as incomes rise. China imported 1.1 billion barrels in 2007, up 12.3% from the previous year. China supplied its fuel needs for decades from domestic fields but rising demand made the country a net importer in the late 1990’s. Imports now account for 50% of consumption.

India and China are two Asian giants that consume only a third as much oil as the US today. But if the Chinese and Indians consumed as much oil per capita as Americans do, the world’s oil demand would be closer to 200 million bpd, instead of 85 million barrels today. And with the world running on a limited cushion of Saudi spare capacity, any interruption in supplies from Mexico, Nigeria, or hurricanes and talk of armed conflict with Iran, causes oil prices to spike higher.


While China’s more affluent classes are nervously watching their savings erode in the stock market, the rest of the population is watching its purchasing power erode from soaring food prices. China’s annual consumer price inflation surged to 8.7% in February, the highest since May 1996, from 7.1% in January. Food prices, which make up a third of the consumer basket, were 23.3% higher in February from a year earlier, compared with an increase of 18.2% in the 12-months to January.

Beijing is in a quandary on how best to fight inflation, since a tighter monetary policy won’t produce an extra grain of rice nor an extra bushel of corn. Yet if food inflation stays too high for too long, it could ignite non-food inflation, and social unrest, since the average Chinese household spends 37% of its disposable income on food.

For now, Beijing is allowing the yuan climb at a faster rate against the US to hold down import prices, and is aggressively draining excess cash from the Shanghai money markets thru open market operations. Still, the Bernanke Fed is fueling higher oil prices around the world with its cheap dollar policy, and the Global “Oil Shock” is rattling Shanghai red-chips.


South Korea Stuck in “Stagflation” Trap


High prices of crude oil and raw materials are posing a serious threat to resource-deficient South Korea, with slowing growth raising the specter of “Stagflation,” a toxic combination of stagnation and inflation. Local manufacturers are striving to secure raw materials amid soaring prices, but troubles may worsen, putting a heavy burden on the nation’s import-dependent economy.

With high-flying prices of crude oil, iron ore, and coal, South Korean imports of raw materials last year hit $201.7 billion, up 16% from $173.9 billion recorded a year earlier, and more than half of the nation’s total imports. South Korea’s raw material imports, which stood at $79 billion in 2000. Higher oil prices could swing the external current account to a deficit of -$7 billion this year, the biggest gap since 1997, from a surplus of +$5.9 billion in 2007, the Finance Ministry said.


But Korea is also the world’s fourth-largest crude oil buyer, and depends entirely on imports to meet its oil needs. A doubling of oil prices from a year ago has already contributed to a 20% slide in the Kospi blue chips. South Korean import prices were 21.2% higher in January from a year earlier, the most in more than 9-years, adding to inflation pressures, even as the economy is set to run out of steam. The surge in import prices were led by a whopping 48.7% gain for raw materials.

To help the local economy and stock market cope with the doubling in crude oil prices to 110,000-won /barrel, the Bank of Korea, (BoK) is rapidly inflating its money supply, - morphine to ease the pain of the Global “Oil Shock.” Korea imported 80 million barrels of crude in January, up 12.3% from a year earlier, but its bill soared 78% to $7.3 billion. The average price of imported Dubai crude stood at $89.6 per barrel in January, up from $56.6 in the same month last year.


The clandestine practice of “monetizing” higher oil prices is back-firing, since it simply fuels even higher prices for energy, food and other key commodities. On March 7th, Bank of Korea warned that chances have increased for inflation to exceed its previous forecast. “You may think the slowing global economy would help to ease inflation pressures, but there are no signs in sight that the high pace of growth in crude oil and grains prices will turn around soon.”

BoK chief Lee indicated that South Korea is sliding into the “Stagflation” Trap. “Chances have increased both for economic growth to fall and price growth to get higher. International prices of crude oil and grains are now growing faster than we had forecast several months ago. Whether the BOK will move as markets expect depends on the future consumer price and economic trends. I can say clearly is that we manage the rate policy in the belief that rate increases will slow money growth and that rate cuts will boost money growth,” Lee said.


Global Oil Shock Rattles Tokyo, as dollar hits 100-yen


For most of this decade, Japan’s ministry of finance, has worked tirelessly to defend the US dollar against the yen, to support exports overseas and artificially inflate multi-national income earned in the US. Exports drive almost 20% of Japan’s economy. Half of Japan’s shipments overseas are settled in US dollars even though China and Hong Kong overtook the US as Japan’s largest export market in 2007.

In the past, Tokyo usually intervened in the market to defend the dollar at 106-yen, which is the average break-even level for most Japanese exporters. The Bank of Japan, acting on behalf of the MoF, sold a record 20.4 trillion yen ($199 billion) in 2003 and 14.8 trillion yen in the first quarter of 2004, when the yen traded as high as 103.42 per dollar, the biggest intervention stint in history. The dollar also fell towards 100-yen in 1999, 2000, and again in 2003, prompting Japan’s central bank to massively sell the yen each time.

But Fujio Mitarai, chairman of the Japan Business Federation (Keidanren), told a news conference on March 10th, that Japanese exporters should be able to cope with dollar/yen exchange rate around 105-yen. “I don’t think we will call for intervention for a while, as long as exchange rates stay around present levels,” Mitarai said. Then on March 13th, Japanese finance chief Fukushiro Nukaga didn’t threaten to intervene on behalf of the dollar as it fell to 101-yen, prompting nervous traders to quickly dump the greenback to the psychological 100-yen level.


Japan imports almost all of its oil, and is the world’s third-largest oil consumer after the United States and China. Tokyo has striven in vain for decades to reduce its dependence on oil from the volatile Middle East and thereby insure stable supplies by diversifying oil sources. But in 2006, Japan imported 4.2 million bpd, with 88.6% originating from the Middle East. Japan also imports 65% of its food consumption.

Traders are wondering whether Tokyo has adopted a new stance on the dollar /yen exchange rate, and is ready to live with a stronger yen, to hold down the costs of imported food and oil. On Feb 22nd, BoJ chief a Toshihiko Fukui said he was paying close attention to how rising food and gasoline prices could affect personal consumption, which makes up roughly half of Japan’s economy. “A stronger yen will ease any negative effect from rising costs of crude oil and commodities,” he said.

“The yen’s rise, a decline in the dollar, and rises in oil prices are beginning to have a negative effect on corporate profits,” warned Japanese Economics Minister Hiroko Ota on march 11th. The dollar slid as low as 99.77 yen, breaking below the 100 level for the first time since November 1995. Already this year, the dollar has tumbled 10% against the yen, and is fast approaching the point at which many Japanese exporters say they won’t be profitable.

The negative impact from a weaker dollar has already knocked the Nikkei-225 index 20% lower to a 2-year low. “The factors we must monitor with utmost caution in guiding monetary policy are stock and exchange rate movements,” said Bank of Japan member Atsushi Mizuno on Feb 28th. “If such high volatility continues, it could hurt the real economy through worsening corporate and consumer sentiment. Given that Japan’s recovery is an external-demand-led one backed by exports, downside risks are heightening on mounting risks to US growth,” he warned.

Gary Dorsch, Editor, Global Money Trends
March 14, 2008
editor@sirchartsalot.com



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