WARREN POLLOCK & ANN ON THE ENDGAME
POSTED BY ANN BARNHARDT - AUGUST 14, AD 2012 11:34 AM MST
Hardcore stuff here. We cover the Sentinel Ruling destroying the notion of Customer Segregated Funds, FDIC "insurance", the forthcoming nationalization of your savings, the farce of electoral politics, and the inevitability of collapse and the mere goal of simply leaving a record that not everyone in this culture was an emotional child unable to deal with objective, mathematical reality.Warning: Lots of crazy eyes and my patented Extreme Facial Expressions™ magnified by a somewhat choppy Skype connection.
http://beforeitsnews.com/conspiracy-theories/2012/08/mf-global-beta-test-for-bank-holiday-martial-law-2443918.html
MF Global: Beta Test For Bank Holiday & Martial Law
Tuesday, August 14, 2012 8:03
By Dominique de Kevelioc de Bailleul
On the heals of the Department of Justice’s determination of no wrongdoing in the case of Goldman Sachs’ contribution to the kickoff of the financial meltdown in 2008, writer and researcher Susanne Posel tells the SGT Report that the bizarre overnight bankruptcy of MF Global of Oct. 31, 2011, was a beta test for the final, grand theft planned by the banking cartel.
On the heals of the Department of Justice’s determination of no wrongdoing in the case of Goldman Sachs’ contribution to the kickoff of the financial meltdown in 2008, writer and researcher Susanne Posel tells the SGT Report that the bizarre overnight bankruptcy of MF Global of Oct. 31, 2011, was a beta test for the final, grand theft planned by the banking cartel.
Nearly 10 months later, no charges have been levied against the mastermind of the theft of $1.2 billion, former CEO of Goldman Sachs Jon Corzine. No charges appear to be forthcoming, either.
The Corzine incident was a beta test implemented by the banking cartel to measure the extent of public and Congressional reaction to overt theft of customer funds, according to Posel.
Through a Deutche Bank informant, she says the banks intend to steal as much of clients money as possible to cover bad bets made following the enactment of the Gramm–Leach–Bliley Act (GLB) of 1999, a piece of legislation passed by Congress which rendered the separation between commercial banks and investment banks covered under the Glass-Steagall Act of 1932 null and void.
GLB was spearheaded by the then-Secretary of Treasury and former Goldman Sachs CEO Robert Rubin during the Clinton administration.
“They know the collapse is coming,” says Posel. “So they are preparing for it.”
Posel says the collapse of the financial system of 2008, with the abrupt bankruptcy of Lehman Brothers, sparked a currency war between the European Union and the United States over whichcurrency would be left standing and who would hold the underlying assets or tax base of citizens from which to tap revenue.
“In 2008, we should have collapsed,” says Posel. “We should have gone the way of Greece. The only reason why we didn’t was because the global elite and banking cartels put it off on the eurozone and [to] collapse the eurozone in order to gain sovereign debt.”
That additional sovereign debt would then compel governments responsible for paying the debt to raise taxes upon its citizens, cut recipient benefits and confiscate property in a government-sanctioned transfer of underlying real wealth to bankers away from the citizenry. In that way, not repaying bankers via taxes levied by the middleman of government now becomes a criminal offense, not a civil matter between bank and customer.
In the case of Europe, Greece is the weak link. Greece was sold mortgage-back securities (MBS) from American broker-dealers, which were then attacked through wholesale selling of the securities, creating the kickoff to the euro crisis that began in March 2009.
and they have the nerve to finally bring up Iceland ????
“Four countries, one policy, half a year…”
The Corzine incident was a beta test implemented by the banking cartel to measure the extent of public and Congressional reaction to overt theft of customer funds, according to Posel.
Through a Deutche Bank informant, she says the banks intend to steal as much of clients money as possible to cover bad bets made following the enactment of the Gramm–Leach–Bliley Act (GLB) of 1999, a piece of legislation passed by Congress which rendered the separation between commercial banks and investment banks covered under the Glass-Steagall Act of 1932 null and void.
GLB was spearheaded by the then-Secretary of Treasury and former Goldman Sachs CEO Robert Rubin during the Clinton administration.
“They know the collapse is coming,” says Posel. “So they are preparing for it.”
Posel says the collapse of the financial system of 2008, with the abrupt bankruptcy of Lehman Brothers, sparked a currency war between the European Union and the United States over whichcurrency would be left standing and who would hold the underlying assets or tax base of citizens from which to tap revenue.
“In 2008, we should have collapsed,” says Posel. “We should have gone the way of Greece. The only reason why we didn’t was because the global elite and banking cartels put it off on the eurozone and [to] collapse the eurozone in order to gain sovereign debt.”
That additional sovereign debt would then compel governments responsible for paying the debt to raise taxes upon its citizens, cut recipient benefits and confiscate property in a government-sanctioned transfer of underlying real wealth to bankers away from the citizenry. In that way, not repaying bankers via taxes levied by the middleman of government now becomes a criminal offense, not a civil matter between bank and customer.
In the case of Europe, Greece is the weak link. Greece was sold mortgage-back securities (MBS) from American broker-dealers, which were then attacked through wholesale selling of the securities, creating the kickoff to the euro crisis that began in March 2009.
Hedge fund manager John Paulson was possibly implicated as the short-seller of the mortgage-back securities held by Greece in a hearing between Congress and the ‘Fab Four’ traders at Goldman Sachs. During testimony, Paulson was revealed as the man who sat with other Goldman Sachs employees when a handpicked basket of overpriced mortgage-back securities was created, including those MBS’s sold to Greece. Paulson shorted the basket of MBS’s and profited approximately $3.7 billion.
No criminal charges have been filed against Paulson, the employees of Goldman Sachs who created the basket of securities, or any of Goldman’s Fab Four.
But there is more, according to Posel. China needs assurances that it gets paid, as well.
“They’re extracting wealth so that the only thing the governments will have left to give them [Chinese] is the actual land that they [Americans] own,” says Posel.
Goldman Sachs was first to deploy the banker scheme of extracting funds from public coffers. In addition to paying interest on $1.1 trillion of U.S. Treasuries held by the Chinese, the banking system and the U.S. dollar were saved through pushing the problem of global insolvency onto the Eurozone nations.
No criminal charges have been filed against Paulson, the employees of Goldman Sachs who created the basket of securities, or any of Goldman’s Fab Four.
But there is more, according to Posel. China needs assurances that it gets paid, as well.
“They’re extracting wealth so that the only thing the governments will have left to give them [Chinese] is the actual land that they [Americans] own,” says Posel.
Goldman Sachs was first to deploy the banker scheme of extracting funds from public coffers. In addition to paying interest on $1.1 trillion of U.S. Treasuries held by the Chinese, the banking system and the U.S. dollar were saved through pushing the problem of global insolvency onto the Eurozone nations.
“In 2008, when Hank Paulson went to the Congress and said that they had to bail out the banks for $700 billion or martial law would be declared, they weren’t lying,” says Posel.
Goldman Sachs CEO Henry Paulson’s extortion of a $700 billion TARP bill from Congress with the threat of martial law was essentially a classic bait-and-switch scheme. Americans were told that the unprecedented appropriation was earmarked for a jobs and economic stimulus program. Instead, the money was redirected to the “too big to fail” banks, with subsequent hearings between Congress and Federal Reserve Chairman Ben Bernanke yielding no disclosure as to which banks received the money under TARP.
In Congressional testimony, Bernanke stated he will not disclose the recipients of TARP, unless Congress orders him to do so, because to disclose the recipients of the appropriated funds may trigger a bank run on those institutions. No such order from Congress has been passed.
And the mechanism for foreclosing properties that were backed by mortgage securities was immediately deployed, as in the ubiquitous ‘robo-signing’ incidences that appeared months later.
The final coup planned by the bankers involves a bit of deception, a false-flag attack blamed on China, Russia or Iran, maybe, in which the Federal Reserve will initiate a ‘bank holiday’ on a Friday due to a computer ‘virus’ which allegedly threatens the banking system, according to Posel.
Posel’s informant told her that the banks would open on the following Monday. At that time, declaration of martial law by the U.S. president comes next, presumably as a result of massive civil unrest due to a dollar devaluation or another event blamed on the perpetrator of the virus. But the overarching reason for martial law is to protect the banks from an angry public, according to her.
“If you hear about this in the news, you have 72 hours to do whatever you plan to do before the collapse,” says Posel.
and meanwhile Europe simmers on......
German Bailout Rebellion: “We Have Euro-Anarchy”
TUESDAY, AUGUST 14, 2012 AT 5:45PM
For German Chancellor Angela Merkel and her ilk, it’s going to be a steamy August and an even steamier September and October with political battles left and right, to be fought mano a mano, as the Eurozone debt crisis and the growing bailout rebellion in Germany are migrating from parliamentary discussions, closed-door meetings, and shaky EU summit—21 of them so far—to electoral politics. Voters may finally have a say.
She has consistently driven her agenda towards a more integrated Europe, but her solutions to the debt crisis have butted into the German constitution. The Fiscal Union treaty and the ESM bailout fund are currently being dissected by the Federal Constitutional Court, with a decision due on September 12. These mechanisms would transfer budgetary sovereignty and other rights from the Bundestag to the EU government, and thus from voters in Germany—or Italy and Spain, for that matter—to unelected bureaucrats in Brussels.
More mechanisms with sovereignty transfers have appeared on the horizon as the EU government has embarked on a power grab—supported by many national politicians with visions of upward extensions of their careers. Might German Finance Minister Wolfgang Schäuble be dreaming about a promotion to EU Finance Minister? And the inevitable Merkel to EU President?
Thus, a few weeks ago, Schäuble had voiced the word referendum, sending shockwaves through the system. With that word, he’d called for a new constitution that would permit the transfer of sovereignty. A constitutional convention would draft it, and the people would vote on it. Politicians on all sides jumped in behind him. On the right, coalition partner CSU was enthusiastic, particularly Bavarian Minister-President Horst Seehofer. Saturday it was Foreign Minister Guido Westerwelle (FDP) who came out in favor. The next day, it was Sigmar Gabriel, President of the center-left Social Democrats (SPD) who wanted “to ask the people.” But the agendas couldn’t be more different.
Seehofer wants to drive a wooden stake through the heart of the mechanisms that transfer Eurozone debt to Germany, such as Eurobonds or a banking union. And he sees the referendum as a chance for voters to say heck no! His party faces strong opposition in Bavaria from the Freie Wähler (Free Voters) who have demonstrated in the streets against a future where a “child, just after being born, is already liable for the bailouts that great-aunt Merkel had signed” [Bailout Rebellion Reawakens in Germany].
Westerwelle might be more interested in creating a European constitution, an effort that had already disastrously failed when the Constitutional Treaty, signed by the 24 member states in 2004, was rejected by French and Dutch voters in 2005. They’d been given a vote. Germans had not.
Gabriel lashed out against Merkel. The liabilities from the bailouts were already enormous, he said, but “without control.” Merkel is “tolerating with a wink” that the ECB buys sovereign debt of Spain and Italy, “while her party colleagues criticize it.” Through the bailouts, Merkel had already created a “secret debt union,” but didn’t want to tell the people. He accused her of always acting too late and without a “clear crisis solution strategy.” It could not be that there is a common currency, he said, “but other than that, everybody is doing whatever they want.” While some countries might not increase their taxes and run up deficits, Germany would have to pay in the end. “Today we have euro-Anarchy,” he said.
His solution to the euro-Anarchy: Eurozone-wide mutualization of debt linked to a centralized control of national budgets by the European government, in which he would no doubt play a large role. The Greens are already in his camp.
Just when there is less agreement within the Eurozone than ever before, and more tensions and discord, all seventeen member states should suddenly fuse together into a solidarity that has never before existed, and integrate into a happy union, subservient to a mega-federalist construct run mostly by unelected bureaucrats, at the expense of taxpayers in Germany, France, and elsewhere.
Even in the US, after two hundred years and a civil war, states are still responsible for their own debts, though we’ve come close to Gabriel’s model via the indirect federal bailout programs for states and the Fed’s printing press that threw so much money into the air that some of it even reached California—which was issuing IOUs at the time.
The French and Dutch, when given a chance to vote on the European constitution in 2005, “unexpectedly” voted for sovereignty. Referendums are risky. And in Germany, voters might follow the French and Dutch example. Meanwhile, the referendum, though it might never come about, is already doing something else: it’s eating into the substantial support among the opposition for Merkel’s policies, and difficult battles and compromises lie ahead.
Germany and Austria may have their differences, and their love for each other may not always be palpable, but when it comes to money, they’re joined at the hip. And now the euro debate took on sharp tones in Austria as well. With a new theme: “Insolvency Procrastination.” Read.... The Euro Revolt Spreads To Austria.
and they have the nerve to finally bring up Iceland ????
REVEALED: The awkward truth about Iceland that the EU and the neocons won’t face
Springtime for Iceland and Germany, winter for Athens and Spain
“Four countries, one policy, half a year…”
In 2001, the banks were deregulated in Iceland. This set the stage for banks to upload debts when foreign companies were accumulated. A major crisis unfolded when banks became unable to refinance their debts.The debts were bonkers, but the advisers all said “Nooooo, nothing to worry about, just offer very high savings rates.” However, it is a fact that the three major banks held foreign debt in excess of €50 billion, or about €160,000 per Icelandic resident.
But a funny thing happened after the Icelandic fiscal collapse of 2008. The Government let most of the banks fail, told the bondholders to whistle for their sovereign debt, didn’t sell any assets, ringfenced the social security budgets, and hunkered down to rebuild the country. The slump was arrested by late 2010, and growth was under way again by mid 2011. One sign of the success of the Icelandic efforts is the fact that the government was successfully able to raise $1 billion with a bond issue on 9 June 2011.
Today, Iceland is regarded as one of Europe’s recovery success stories. It has had two years of economic growth. Unemployment is down to 6.3%, and Iceland is attracting immigrants to fill jobs despite wages having fallen dramatically. The fall in Icelandic currency has hugely reduced imports, and in and of itself thus contributed to surplues where once there were deficits. And as we can see, despite telling the bondholders to shove it, the country is not shut out of debt markets.
Compare and contrast that outcome now with the Greek austerity policies of Wolfie & the Troikanauts. The Greek economy slumped by 6.2% in the last quarter. It was the Greek economy’s worst in the last eight years, which is saying something given that the economy has contracted in 14 of the past 15 quarters.
The figure is the lowest for a second quarter since 2005. But nil desperandum, because Greece is swarming with privatisation advisors explaining how to sell off what’s left of Greek sovereign status. Unfortunately, the folks involved in that sector seem to be suspect. Who’d have thought it, eh? For example, the Slovakian official appointed by the European Commission to advise Greece on privatisations has resigned her position amid corruption allegations in her homeland. Anna Bubenikova, previously head of her country’s National Property Fund, has been advising Greece since August 2011. But the lady resigned her position at the NPF in January, after her name appeared in transcripts of a secret service investigation into Government corruption and cronyism.
The perfect person to advise the Greek elites on bribe-price economics therefore, but not the best person to be doling out advice on property.
Look everyone, this is what the nutters don’t want you to notice: debt forgiveness works. If the creditors are unforgiving, default works. Devaluation is also massively helpful. If you ringfence the social monies and work hard, you’ll still have austerity….but nobody needs to starve.
We, the ClubMeds, the squeezed middle, and the US worker are all being conned.
None of this money is real. Greece should’ve defaulted two years ago and gone back to a devalued Drachma. Had it done so, European taxpayers would be richer, and the Greeks would’ve had two massively successful holiday seasons. The Troika scorched earth drivel is clearly not working, and with every day, the ECB’s acceptance of bondholder haircuts and forgiveness becomes less and less tacit.
The Icelanders were right, and the ClubMed politicians are wrong. Berlin-am-Brussels is wrong. This represents bollocks deconstructed by evidence. It’s what The Slog does. It’s why it exists.
A postscript.
Debate that finding with evidence by all means. But if you come to the comment threads to indulge in ex cathedra preaching and snide remarks, you will be banned. Banning folks for making zero contribution beyond smart-assism is not censorship, it’s culling. Dispute my facts with some of your own, and you’ll get a hearing. Kick off with ‘You really don’t know what you’re talking about do you?’ and I will hit the spam button straight away.
The Slog is meant to be a site where reasonable, civilised people can point up the tissue of blatant lies and latent dissembling we are fed 24/7 by people of all political persuasions, civil servants, implicated MSM titles, bankers, multinational headcases, socialist fluffies and neocon zealots.
It is a site looking for new ideas – not old prejudices, bitter resentment, rude insults and unfounded allegations. And anyone who marrs the overall positive ‘feel’ for the serious reader will disappear very quickly.
Cheers.
JW
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