mercoledì 5 ottobre 2011

Leo Wanta - FBI ITEM 5

Leo Wanta - FBI ITEM 5

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martedì 4 ottobre 2011

Spiegel: "The Greeks if they want can take us and our underpants"

Spiegel: "The Greeks if they want can take us and our underpants" ...


Germany experienced the greatest failures of modern history. The current economic independence and its position as Master of Europe owes the U.S., which after the First and Second World War gave up their right to huge amounts of money. I do not remember but one. 
Here are excerpts from the interview with Professor of History of Economic Albrecht Ritsch, Wirtschaftshistoriker to ...
German magazine Spiegel). 
The Weimar Republic survived from 1924 until 1929 with only loans, no money for compensation of the First World War borrowed from the U.S.. This "loan Pyramid" collapsed with the crisis of 1931. Money for loans in the U.S. had disappeared, the loss for the U.S. immense consequences for the global economy is devastating. 
So after the Second World War. America then was careful not to put one of its allies claim for compensation. Apart from some exceptions, canceled all claims until a future reunification of the Germanies (East and West). This was very vital for Germany, was in fact the economic basis of the postwar German miracle. But while the victims of German occupation, was forced to relinquish their rights for compensation between them and the Greeks. 
In proportion to the economic area that had the U.S. at the time, German debts early 30 being the cost of crisis of 2008. Comparatively, therefore, the debt of Greece is minimal.In relation to the financial standing of the country, Germany is the biggest sinner in the 20th century and possibly the newer economic history. 
Tthe Greece plays a minor role. There is, of course, the problem of the risk of transmission of the crisis known European countries. 
In the last century, Germany has gone bankrupt three times. After the last stop paying in the 30s, anakoufistikeapo the U.S. with a reduction in debt, otherwise a "haircut", the equivalent of a grand Afro-Look converted to baldness. Since holding the country's economic luster, while the rest of Europe were working like dogs to find their feet from the ravages of war and German occupation. And even in 1990 also had a stop payment. 
The then Chancellor Kohl refused to implement the London Agreement of 1953. The agreement said that the German war reparations in the case of the reunification of Germany should be placed under renegotiation. But Germany has not paid compensation after 1990 (except very few) nor necessarily loans or the costs of occupation. Greece is one of the states, who did not get a dime. 
Even if a state is not one hundred per cent unable to satisfy his creditors, may be in bankruptcy. Just as in the case of Germany in the '50s, is an illusion to believe that Greece will be able to pay its own debts. And anyone who can not by definition bankrupt. We should now be fixed, what funds are ready to sacrifice their creditors. So we have to find who will pay the marble. 
antiellinikes The positions put forward by the media is very dangerous. We live in a glass house: Our economic miracle was possible only because they had to pay damages. 

Germany in the 20th century started two wars, the second and the war conducted as annihilation and extermination and then renounced the enemies of the right to partially or not at all for compensation. The fact that Germany made ​​the miracle on the backs of other Europeans have not forgotten the Greeks. 
The Greeks know the hostile articles and opinions to the German media very well. If the mood becomes much more aggressive, can revive the old claims, starting from Greece, Germany, and if ever forced to pay, we will "get even underpants." 
You should instead be grateful to consolidate the Greece with our money. If we are playing the game the media, pretending to be thick Emil, who smokes his cigar and refuses to pay, sometimes people would send us their old accounts. 

Dexia Joins BNP Paribas Resisting Greek Losses

Dexia Joins BNP Paribas Resisting Greek Losses
By Liam Vaughan and Fabio Benedetti-Valentini
October 04, 2011 5:37 AM EDT

              BNP Paribas wrote down 2.3 billion euros of Greek bonds maturing before 2020 by 534 million euros in the second quarter. Photographer: Chris Ratcliffe/Bloomberg
Dexia SA (DEXB), BNP Paribas SA and Societe Generale SA are resisting pressure from regulators to accept more losses on their holdings of Greek government debt amid criticism they haven’t written down the bonds sufficiently.
While most banks have marked their Hellenic debt to market prices, a decline of as much as 51 percent, France’s two biggest lenders and Belgium’s largest cut the value of some holdings by 21 percent. The practice, which doesn’t violate accounting rules, may leave them vulnerable to bigger impairments in the event of a default, or if European governments force banks to accept bigger losses than signaled in July. The three would have about 3 billion euros ($4 billion) of extra losses if they took writedowns of 50 percent, data compiled by Bloomberg show.
The three are some of the top foreign holders of Greek government bonds. They were also among the worst performers in the 46-member Bloomberg Europe Banks and Financial Services Index yesterday. Europe’s markets regulator last week likened the inconsistency and lack of transparency about the banks’ holdings to subprime mortgages that triggered the credit crisis. French and Belgian financial regulators say they are scrutinizing the practice. European finance ministers are weighing forcing creditors to take bigger losses than the 21 percent proposed in July under a second aid plan for Greece.
“It’s no coincidence that the banks with some of the biggest holdings of Greek debt took the smallest writedowns,” said Peter Hahn, a professor of finance at London’s Cass Business School and a former managing director of New York-based Citigroup Inc. “You’ve got banks, which are supposedly comparable, putting different values on their assets. That destroys the credibility of the banking system, and is one of the reasons why the shares are being hit so badly.”
Dexia Drops
Further writedowns of Greek sovereign debt would add pressure on the banks to raise capital to meet regulations set by the Basel Committee on Banking Supervision. Societe Generale (GLE) may need to raise 5.5 billion euros of additional capital to comply with the Basel III rules by the end of 2012, Kian Abouhossein, a JPMorgan Chase & Co. analyst, wrote in a Sept. 26 report. BNP Paribas may need 600 million euros, the report said.
At the same time, the sovereign debt crisis is driving down banks’ shares and raising the cost of insuring their bonds against default, making any fundraising costlier.
BNP, SocGen
Dexia, the municipal lender rescued by France and Belgium in 2008, tumbled 22 percent in Brussels trading today after the lender’s board met yesterday to discuss a potential break-up. The lender pledged to review its structure after Moody’s Investors Service put the company’s three main operating units on review for downgrade. BNP Paribas (BNP) and Societe Generale both declined about 5 percent in Paris trading.
The Bloomberg European banks index has dropped 36 percent this year as policy makers have failed to stem concern that they can stop the crisis from spreading beyond Greece to Italy and Spain, triggering losses for the region’s lenders.
Societe Generale, based in Paris, has fallen 55 percent this year, while BNP Paribas has sunk 43 percent.
The cost of insuring the debt of the three banks against default has jumped over the past four weeks, Bloomberg data show. Credit-default swaps on BNP Paribas’s borrowings jumped to 263 basis points yesterday, up from an average of about 53 basis points over the past seven years. CDS on Societe Generale advanced to 352 basis points, up from an average of 69 basis points, while CDS on Dexia are now at 825 basis points, compared with an average of 162 basis points. A basis point is one- hundredth of a percent.
Fair Value
The Markit iTraxx Financial Index of CDS on the senior debt of 25 European banks and insurers was at 289 basis points yesterday, according to JPMorgan, down from its 315-basis-point record in September.
Under International Financial Reporting Standards, banks are required to write down to fair value securities they hold in their available-for-sale portfolio if a default becomes likely.
Greek 10-year government bonds have tumbled to 41.5 cents on the euro, from 66.2 cents at the start of the year, as the crisis worsened, Bloomberg data show. Greek 5-year debt was trading at 42.7 cents on the euro, from 62.8 cents on Jan. 3, the data show. The price of the Greek 30-year bond slid to 32 cents, from 54.1 cents.
Credit-default swaps signal the likelihood of Greece defaulting in the next five years at about 91 percent.
Twenty-two European banks, including Deutsche Bank AG, HSBC Holdings Plc and Royal Bank of Scotland Group Plc (RBS), wrote down their holdings to market value at the end of July, triggering losses of as much as 51 percent, according to a Sept. 8 report by Sarah Deans, a Citigroup analyst, who studied the Greek holdings of 28 European banks at the end of the second quarter.
Rescue Package
As European leaders sought to provide a rescue package for Greece in July, the International Institute of Finance, which lobbies for financial firms, agreed that lenders would participate in an exchange and debt-buyback program. As part of the deal, they would voluntarily write off the value of their Greek government bonds by an average of about 21 percent. The German parliament voted to support the plan last week.
Dexia, BNP Paribas and Societe Generale are among the four biggest foreign holders of Greek sovereign bonds, according to Citigroup. Together with Credit Agricole SA (ACA), Paris-based Natixis (KN) SA and UniCredit SpA (UCG), Italy’s biggest lender, they say the IIF agreement justifies reducing the value of their Greek bonds maturing before the end of 2020 by only 21 percent. Dexia and BNP also have said there’s no liquid market for the securities.
Additional Writedowns
Dexia, which in August posted its biggest quarterly loss ever, has written down the 1.6 billion euros of Greek bonds it holds that expire before 2020 by about 340 million euros, according to Citigroup. The bank would need to take an additional 1.5 billion-euro writedown to mark down all 3.6 billion euros of Greek bonds available for sale, company filings show. That’s more than half its market value.
Executives at Dexia didn’t return calls for comment about the bond holdings yesterday.
BNP Paribas wrote down 2.3 billion euros of Greek bonds maturing before 2020 by 534 million euros in the second quarter. The bank would have an additional pretax writedown of 1.7 billion euros if it took a 55 percent writedown on the 3.5 billion euros of debt on its banking book, it said on its website Sept. 14. It said the losses would be “manageable.”
“Our residual exposure of 3.5 billion euros is smaller than first-quarter pretax earnings,” Carine Lauru, a Paris- based spokeswoman, said in a phone interview.
‘Played the Rules’
Societe Generale had marked down the 1.8 billion euros in its available-for-sale portfolio by 395 million euros as of June 30, according to the lender. A writedown of 50 percent would result in an additional net loss of about 100 million euros to 150 million euros, Chief Executive Officer Frederic Oudea, 48, said Sept. 12. Laetitia Maurel, a spokeswoman for the bank, said Societe Generale has already marked down its Greek bonds by an average of 35 percent and reduced its “residual exposure” to about 900 million euros.
“The French banks ultimately took a view that suited their own interests, and while it may seem pretty extraordinary, they have followed the letter of the law,” said Richard Murphy, an accountant and director of Ely, England-based Tax Research LLP. “They’ve played the rules to their advantage.”
UniCredit posted an impairment of 79 million euros on the Greek bonds it recorded as available-for-sale at the end of the second quarter, equivalent to about 27 percent of the total, company filings show. A 50 percent writedown would cost the bank an additional 69 million euros. Andrea Morawski, a spokesman for the Milan-based firm, declined to comment.
‘Not Feasible’
Some European leaders, particularly in Germany, are now pushing banks and insurers to accept bigger losses than the 21 percent proposed in July to reflect the worsening of the crisis. Otmar Issing, a former European Central Bank chief economist, is calling for a 50 percent write-off. Patrick Armstrong, managing partner at Armstrong Investment in London, which oversees $345 million, said he expects it to be about 40 percent.
“As far as private sector involvement is concerned, we have to take into account that we have experienced changes since the decision we have taken on July 21,” Luxembourg Prime Minister Jean-Claude Juncker told reporters early today after chairing a meeting of euro finance chiefs in Luxembourg. “These are technical revisions we are discussing.”
IIF Lobbying
Banks are lobbying against potentially bigger losses through the IIF. Josef Ackermann, 63, the IIF’s chairman and CEO of Frankfurt-based Deutsche Bank, said in a Sept. 25 speech that it’s “not feasible” to revise the agreement.
The banks that have already written down their holdings to market prices are less vulnerable to further impairments if the bond-exchange program is redrawn. RBS, the U.K.’s biggest government-controlled bank, has marked down the relevant bonds by 50 percent, HSBC, Europe’s largest bank by market value, by 51 percent, and Intesa Sanpaolo SpA (ISP), Italy’s second-biggest lender, by 40 percent, according to Citigroup.
Greece “is not an issue” for Societe Generale, CEO Oudea said on a conference call Sept. 12. The bank said it has “low, declining and manageable sovereign exposure” of 4.3 billion euros to Italy, Spain, Portugal, Ireland and Greece.
BNP Paribas’s holdings of Greek, Irish and Portuguese sovereign debt are “manageable,” the bank said in a presentation on its website. Any writedowns on Greek bonds in the bank’s third-quarter earnings report will depend on how the IIF’s July proposals are implemented, the company said Sept. 26.
‘Consistent’ Valuations
Dexia CEO Pierre Mariani, 55, said at a Paris press briefing three weeks ago that any further provisions will depend on the outcome of the Greek bailout package agreed to in July.
The European Securities and Markets Authority, the umbrella group for European financial regulators set up in 2010, and the International Accounting Standards Board are pressuring national regulators to force banks to mark holdings to market.
“It’s very important for ESMA that financial institutions apply IFRS correctly and are consistent in their valuations of sovereign debt exposures,” Steven Maijoor, the group’s chairman, said in a Sept. 29 speech in Vienna. “Lack of transparency regarding exposures to subprime mortgages created a situation of uncertainty about the financial positions of banks. A lack of transparency from banks on their exposures to sovereign debt and related instruments is generating new suspicions.”
Reemt Seibel, a spokesman for the group, said members discussed the question at a meeting two weeks ago and that it was now up to national regulators to enforce the standards.
Enforcing Standards
“In a very stressed context, the issue of the valuation of sovereign debt is complex,” France’s financial markets regulator, the AMF, said in an e-mailed statement. “The AMF is working on this issue, which requires gathering data and explanations from issuers and their auditors and assessing the situation with our own market experts.”
The regulator said it’s important for regulators to provide guidance to banks on “how this issue should be dealt with” by the end of the financial year.
“The application of IFRS is in the first instance the responsibility of listed companies and their auditors,” Jim Lannoo, a spokesman for the Belgian financial regulator, said in an e-mail. “As a national supervisory authority, we are of course closely following these issues.”
To contact the reporters on this story: Liam Vaughan in London at; Fabio Benedetti-Valentini in Paris at
To contact the editors responsible for this story: Edward Evans at

Financial Warfare: "Sheared by the Shorts"

Financial Warfare: "Sheared by the Shorts". How Short Sellers Fleece Investors

Global Research, September 29, 2011

“Unrestrained financial exploitations have been one of the great causes of our present tragic condition.” -- President Franklin D. Roosevelt, 1933 

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New GRTV Feature Interview now online
- by Ellen Brown, James Corbett - 2011-10-02

Why did gold and silver stocks just get hammered, at a time when commodities are considered a safe haven against widespread global uncertainty?  The answer, according to Bill Murphy’s newsletter, is that the sector has been the target of massive short selling.  For some popular precious metal stocks, close to half the trades have been “phantom” sales by short sellers who did not actually own the stock. 
bear raid is the practice of targeting a stock or other asset for take-down, either for quick profits or for corporate takeover.  Today the target is commodities, but tomorrow it could be something else.  When Lehman Brothers went bankrupt in September 2008, some analysts thought the investment firm’s condition was no worse than its competitors’.  What brought it down was not undercapitalization but a massive bear raid on 9-11 of that year, when its stock price dropped by 41% in a single day.

The stock market has been plagued by these speculative attacks ever since the four-year industry-wide bear raid called the Great Depression, when the Dow Jones Industrial Average was reduced to 10 percent of its former value. Whenever the market decline slowed, speculators would step in to sell millions of dollars worth of stock they did not own but had ostensibly borrowed just for purposes of sale, using the device known as the short sale.  When done on a large enough scale, short selling can force prices down, allowing assets to be picked up very cheaply. 

Another Great Depression is the short seller’s dream, as a trader recently  admitted on a BBC interview.  His candor was unusual, but his attitude is characteristic of a business that is all about making money, regardless of the damage done to real companies contributing real goods and services to the economy.

How the Game Is Played

Here is how the short selling scheme works: stock prices are set by traders called “market markers,” whose job is to match buyers with sellers.  Short sellers willing to sell at the market price are matched with the highest buy orders first, but if sales volume is large, they wind up matched with the bargain-basement bidders, bringing the overall price down.  Price is set by supply and demand, and when the supply of stocks available for sale is artificially high, the price drops.  When the bear raiders are successful, they are able to buy back the stock to cover their short sales at a price that is artificially low.

Today they only have to trigger the “stop loss” orders of investors to initiate a cascade of selling.  Many investors protect themselves from sudden drops in price by placing a standing “stop loss” order, which is activated if the market price falls below a certain price.  These orders act like a pre-programmed panic button, which can trigger further selling and more downward pressure on the stock price. 

Another destabilizing factor is “margin selling”: many speculative investors borrow against their holdings to leverage their investment, and when the value of their holdings goes down, the brokerage may force them to come up with additional cash on short notice or else sell into the bear market.  Again the result is something that looks like a panic, causing the stock price to overreact and drop precipitously. 

Where do the short sellers get the shares to sell into the market?  As Jim Puplava  explained on FinancialSense.comon September 24, 2011, they “borrow” shares from the unwitting true shareholders.  When a brokerage firm opens an account for a new customer, it is usually a “margin” account—one that allows the investor to buy stock on margin, or by borrowing against the investor’s stock.  This is done although most investors never use the margin feature and are unaware that they have that sort of account.  The brokers do it because they can “rent” the stock in a margin account for a substantial fee—sometimes as much as 30% interest for a stock in short supply.  Needless to say, the real shareholders get none of this tidy profit.  Worse, they can be seriously harmed by the practice.  They bought the stock because they believed in the company and wanted to see its business thrive, not dive.  Their shares are being used to bet against their own interests.

There is another problem with short selling: the short seller is allowed to vote the shares at shareholder meetings. To avoid having to reveal what is going on, stock brokers send proxies to the “real” owners as well; but that means there are duplicate proxies floating around.  Brokers know that many shareholders won’t go to the trouble of voting their shares; and when too many proxies do come in for a particular vote, the totals are just reduced proportionately to “fit.”  But that means the real votes of real stock owners may be thrown out.  Hedge funds may engage in short selling just to vote on particular issues in which they are interested, such as hostile corporate takeovers.  Since many shareholders don’t send in their proxies, interested short sellers can swing the vote in a direction that hurts the interests of those with a real stake in the corporation.           

Lax Regulation

Some of the damage caused by short selling was blunted by the Securities Act of 1933, which imposed an “uptick” rule and forbade “naked” short selling.  But both of these regulations have been circumvented today. 

The uptick rule required a stock’s price to be higher than its previous sale price before a short sale could be made, preventing a cascade of short sales when stocks were going down.  But in July 2007, the uptick rule was repealed.

The regulation against “naked” short selling forbids selling stocks short without either owning or borrowing them. But an exception turned the rule into a sham, when a July 2005 SEC ruling allowed the practice by “market makers,” those brokers agreeing to stand ready to buy and sell a particular stock on a continuous basis at a publicly quoted price.  The catch is that market makers are the brokers who actually do most of the buying and selling of stock today.  Ninety-five percent of short sales are done by broker-dealers and market makers.  Market making is one of those lucrative pursuits of the giant Wall Street banks that now hold a major portion of the country’s total banking assets. 

One of the more egregious  examples of naked short selling was relayed in a story run on FinancialWire in 2005.  A man named Robert Simpson purchased all of the outstanding stock of a small company called Global Links Corporation, totaling a little over one million shares.  He put all of this stock in his sock drawer, then watched as 60 million of the company’s shares traded hands over the next two days.  Every outstanding share changed hands nearly 60 times in those two days, although they were safely tucked away in his sock drawer.  The incident substantiated allegations that a staggering number of “phantom” shares are being traded around by brokers in naked short sales.  Short sellers are expected to cover by buying back the stock and returning it to the pool, but Simpson’s 60 million shares were obviously never bought back to cover the phantom sales, since they were never on the market in the first place.  Other cases are less easy to track, but the same thing is believed to be going on throughout the market.

Why Is It Allowed?

The role of market makers is supposedly to provide liquidity in the markets, match buyers with sellers, and ensure that there will always be someone to supply stock to buyers or to take stock off sellers’ hands.  The exception allowing them to engage in naked short selling is justified as being necessary to allow buyers and sellers to execute their orders without having to wait for real counterparties to show up.  But if you want potatoes or shoes and your local store runs out, you have to wait for delivery.  Why is stock investment different? 

It has been argued that a highly liquid stock market is essential to ensure corporate funding and growth.  That might be a good argument if the money actually went to the company, but that is not where it goes.  The issuing company gets the money only when the stock is sold at an initial public offering (IPO).  The stock exchange is a secondary market – investors buying from other stockholders, hoping they can sell the stock for more than they paid for it.  In short, it is gambling.  Corporations have an easier time raising money through new IPOs if the buyers know they can turn around and sell their stock quickly; but in today’s computerized global markets, real buyers should show up quickly enough without letting brokers sell stock they don’t actually have to sell.

Short selling is sometimes justified as being necessary to keep a brake on the “irrational exuberance” that might otherwise drive popular stocks into dangerous “bubbles.”  But if that were a necessary feature of functioning markets, short selling would also be rampant in the markets for cars, television sets and computers, which it obviously isn’t.  The reason it isn’t is that these goods can’t be “hypothecated” or duplicated on a computer screen the way stock shares can.  Short selling is made possible because the brokers are not dealing with physical things but are simply moving numbers around on a computer monitor. 

Any alleged advantages to a company or asset class from the liquidity afforded by short selling are offset by the serious harm this sleight of hand can do to companies or assets targeted for take-down in bear raids.  With the power to engage in naked short sales, market makers have the market wired for demolition at their whim.    

The Need for Collective Action

What can be done to halt this very destructive practice?  Ideally, federal regulators would step in with some rules; but as Jim Puplava observes, the regulators seem to be in the pockets of the brokers and are inclined to look the other way.  Lawsuits can have an effect, but they take money and time.

In the meantime, Puplava advises investors to call their brokers and ask if their accounts are margin accounts.  If so, get the accounts changed, with confirmation in writing.  Like the “Move Your Money” campaign for disciplining the Wall Street giants, this maneuver could be a non-violent form of collective action with significant effects if enough investors joined in.  We need some grassroots action to rein in our runaway financial system and the government it controls, and this could be a good place to start.   

View also
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- by Ellen Brown, James Corbett - 2011-10-02

Ellen Brown is an attorney and president of the Public Banking Institute,  In Web of Debt, her latest of eleven books, she shows how a private cartel has usurped the power to create money from the people themselves, and how we the people can get it back. Her websites are and

RAP NEWS 9 - The Economy w. Ron Paul & Peter Joseph

RAP NEWS episode 9. 2011 hits harder than a pre-apocalyptic hangover as "the economy" threatens to annihilate our stock-piles of imaginary, inflated wealth, spawning a battle of epic proportions as insurgent grassroots forces move in to #OccupywallStreet and coalitions of indignados hold their ground in Athens, Madrid and Tel Aviv; facing up to the riotgear, batons and tazers that stand between them and a more equal redistribution of the proverbial pie. ...But enough action and excitement! It's time for some heroic armchair philosophy: Join your affable host, Robert Foster as he attempts to shine some light on this mysterious creature, "the economy". Is this the failure of capitalism that we are witnessing, or its triumph? Is it the end of the end of history, or yet another crazy chapter in the whimsical journey of the human experiment?

Postscript: For the occasion, we've pulled out the big guns: admittedly it was a tough choice deciding who to interview: we could've had Alan Greenspan on the show, or the Emperor himself, Milton Friedman; the first lady, Christine Lagarde; or financial buffs like Gerald Celente, Peter Schiff and Donald Trump. But to get the freshest juice we knew we had to go further - much further. Rap News 9 features two VIP Internet grandees who have uploaded gigabytes of juice via the one remaining free frequency to feed a discerning and ravenous audience, thirsty for answers. Whilst these two fine folk agree with each other on many things, fortunately, there's no shortage of issues to rap-battle about. Well, time's short - so let the rhyme-rodeo begin as we blast off on a rollercoaster odyssey. It's the stupid Economy, in all its gory glory.

** MP3 and Lyrics:

** More info on stuffs:
- Ron Paul, 'The One':
- Ron P[Au]l 2012 campaign:
- Zeitgeist Movies:
- Who is Peter Joseph?
- The Venus Project:

** SUPPORT Rap News to keep broadcasting rhyme and reason on the only remaining free frequency: - thanks!

** CONNECT with us on Farcebook:
And Twitter:

** CREDITS: RN9 has been a herculean collaborative endeavour, for which we are hugely grateful to: Our ineffably awesome designer, Zoe Tame from for creating all the original artwork, backgrounds and vectors; Zoe (VAL) and Ellen (Goldie) for yet more lingerie escapades; Lucy for VAL voice-over and Ming for big-gonad Trailer-Man voice; Dave Abbot for cutting-edge state-of-the art CGI effects, animations and exteme doses of patience; Rosie Dunlop for make-up mayhem and latex love; Trav and Nick for lights and logistical assistance; Milly Langworth and Gilles Gundermann for prop sourcing; Jason for not wigging out over the wigs; Lucy & Caitlin for ongoing support; Shawn Smith for help with online research; and to all the people who write to us harassing us about when the next episode is coming out :)

** BEAT: It's been a Frankensteinian effort on the part of our local musical luminaries for the production on this episode's original track: Dan West out at Tweak and Twang studios ( for phat drum sequencing; Jonathan Dreyfus & Adrian Sergovich for wicked orchestrations; Julez & DanWest for Zeitgeist instrumentation (based on the original Zeitgesit theme by Mr. Peter Joseph!). mp3:

** CAPTIONS & SUBTITLES: Many thanks to our French friends, Koolfy and Siltaar, for sync'ing English closed captions; thanks to Jonas M for Dutch translation; Midas for Greek translation; Marcelo Ranolfi for Portuguese translation

TRANSLATIONS - if you'd like to translate Rap news into your language, please contact us first via our website

domenica 2 ottobre 2011

One Million Protesters to Occupy Wall Street

One Million Protesters to Occupy Wall Street

Alexander Higgins, who has been keeping us abreast with developments relating to the Wall Street protests says it’s Game On, as union leadership is now getting heavily involved in Occupy Wall Street:
The plot thickens as more unions pledge support to the Occupy Wall Street movement and a collective group with 1 million members expected to march against the machine.
As I previously reported unions are coming out in full force to support the Occupy Wall Street protests. We received news that the 200,000 member strong Transportation Workers Union would be joining the protests. The Teamster’s union endorsed the protests. Rumors of Verizon workers joining the protests. A scathing endorsement was issued by the Industrial Workers Union has also endorsed the Occupy Wall Street protests. Then news that several more unions had committed to or were contemplating joining the protests, while two the unions scheduled solidarity marches.
Now TPM reports even more unions are joining up to protest against Wall Street and the movement is set to grow rapidly.
The article also comes along with the news that a collective of 8 groups, with over 1 million members will be joining the Occupy Wall Street movement to show solidarity and march against the machine.

The other eight organizations expected to join in the October 5 rally, based on its Facebook page, are United NY, Strong Economy for All Coalition, Working Families Party, VOCAL-NY, Community Voices Heard, Alliance for Quality Education, New York Communities for Change, Coalition for the Homeless, which have a collective membership of over 1 million.
Source: Alexander Higgins
There will undoubtedly be an interesting mix of individuals on the ground in New York on October 5th. Third party libertarian types have never mixed very well with unions, but perhaps Americans will be able to unite behind a single cause rather than be manipulated into conflict by mainstream talking pieces at the behest of political operatives. We’re not holding our breath, but this is a good start.
As we suggested in American Powder Keg: New Black Panther Chairman Declares “The Hour of War Is At Hand” much of America is disgusted in the direction we’re headed, evidenced by the 81% of Americans who say they are not satisfied with the governance of the country. We’re all in this together:
The majority of America is not happy and they’ve lost hope, because regardless of what group you identify with, what color you are or what way you lean politically, you’re losing jobs, falling behind on essential bills, having difficulty putting food on the table and are constantly being accosted by government on all levels.
The challenge is not so much getting people motivated – because you can be assured that as this crisis deepens, millions will have no choice but to head to the streets for the reasons outlined above. The problem we face is that we are dealing with politicians and business leaders who have no other motive than power and money, and they will do anything and everything necessary in order to deflect blame. Thus, they’ll need a scapegoat(s), as we suggested previously:
When the riots start – and they will – the core motivators for individuals who hit the streets will be similar. Where the difference will arise is who each person or group will blame. Those elites in the upper echelons of our command and control apparatus thrive on hate, confusion and panic, and they will use our own ignorance against us.
When we discuss the coming civil disobedience and unrest in America, we may find ourselves visualizing protests where the people join together to oust a tyrannical government. Be forewarned. This is not the most likely outcome – at least not at the outset. With so many different ideologies in this country, every one of us interprets the problems and directs blame a different way. These differences will be used against us; they’ll be used to turn us against each other.
As has been the case throughout history, and most certainly in recent protests and riots around the world, the powers that be will likely utilize agent Provocateurs to wreck havoc in an attempt to discredit the message of the people. Because of the differing backgrounds and world views at any given rally (especially one like Occupy Wall Street), it wouldn’t take much to create conflicts and clashes. Many of those who will be out in force on October 5th and at the many coming assemblies, rallies, and riots that we’ll see in America’s future will be myrmidons taking orders from their respective political, union or organization leaders. Thus, these engagements will not come without risk. There is always the danger that people will be misguided, misinformed, and misdirected, eventually turning on themselves.
It’s great that Americans are taking to the streets to effect real change. One million people is a big number, despite the media feigning ignorance to the fact the Wall Street protests are even happening. This is how it starts. It is our hope that the people carry through with the original intent of the movement and focus their energy on the problem – unregulated greed and corruption on Wall Street and within the halls of Congress – rather than each other.
One Million Protesters to Occupy Wall Street
To stream the revolution "LIVE" click here:
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Wall Street Occupation/protest "LIVE"
If you didn't see this video by anonymous...check it out:
Anonymous - The Bankers Are The Problem - YouTube

Anonymous: The Bankers Are The Problem

Central bank gold leasing

GoldMoney's James Turk interviews Dimitri Speck about central bank gold leasing

2:45p ET Saturday, October 1, 2011
Dear Friend of GATA and Gold (and Silver):
GoldMoney founder and GATA consultant James Turk, who spoke at GATA's recent Gold Rush 2011 conference in London, interviewed gold market researcher and GATA consultant Dimitri Speck there about Speck's findings about central bank gold leasing, a major mechanism of gold price suppression. The interview is five minutes long and you can watch it at the GoldMoney Internet site here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.

EU elite lost at sea

Alasdair Macleod: EU elite lost at sea

12:40p ET Sunday, October 2, 2011
Dear Friend of GATA and Gold:
Economist and former banker Alasdair Macleod, who spoke at GATA's Gold Rush 2011 conference in London in August, writes today at GoldMoney that Europe's main problems are ever-growing government and ever-weakening currency. Macleod writes:
"The deterioration in the underlying quality of private-sector business, the result of central planning and needless regulation, has been concealed by the expansion of bank credit, which has fueled both private- and public-sector debt. According to the International Monetary Fund, at the end of 2010 gross government debt-to-GDP for the Euro area was 87%, and household debt 72%, giving a total of 159%. Germany itself was running a combined total of 142%, which is often overlooked. On these figures alone, it is clear that the Keynesian solution of more government spending as the route to salvation is unaffordable, whatever the economic arguments."
Macleod's essay is headlined "EU Elite Lost at Sea" and you can find it at the GoldMoney Internet site here:
Along with your secretary/treasurer, the monetary historian and GATA consultant Edwin Vieira, and industrialist and gold standard advocate Lewis E. Lehrman, Macleod will speak at the fall dinner meeting of the Committee for Monetary Research and Education on Thursday, October 20, in New York City. You can find information about attending that dinner here:
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.