THIS IS BASED ON
50 YEARS CYCLES AND WAS SHOWN TO ME
LAWRENCE HARMEN =
ABBA'SWATCHMAN IN YEAR 2000!
This was copy righted in
1992 and was written by Ehor Mazurok ... Look familiar !!!
Get ready
for the tribulation period or the mother of all depressions !
This graph can't take into account the soon to come nuclear attack
which involves the whole world !
We are
about to see a U.S. Economic disaster .
2 Timothy 1:7 For
God hath not
given us the spirit of fear;
but of power,
and of love,
and of a sound mind.
This information
is stressful so come read when you feel strong as these wicked people
who are doing all this by design want to cause you to fear because
stress is a great immune system destroyer so be strong do not fear and
come only when you are strong but tell others to come as well. Weak
people are easily controlled.
You had better
start buying food and storing it fast
An economy bigger than Russia,
Brazil, Canada, India or Spain is in imminent risk of defaulting on
its debts. Which nation am I talking about? Not a country . . . but
the state of California. California’s GDP was around $1.812 trillion
in 2007. According to the International Monetary Fund, that is bigger
than the 2008 GDP of every country in the world except the US, Japan,
China, Germany, France, UK and Italy . Given that California has more
people than any other state in the US, and some of the largest
agricultural, manufacturing, high-tech and defense sectors in the
nation, you would think that helping California would be important.
And yet instead of helping California the federal government is giving
aid to Goldman Sachs, JP Morgan and the other financial giants who
helped to cause the financial crisis, and to Israel and other foreign
countries. Does that make any sense? Note: Depending on which
source is cited (CIA World Factbook, World Bank, or IMF), California
ranks somewhere between 7th and 10th in world GDP.
The numbers are staggering and
are aggregates of official data. They matter because various Obama
administration officials including the President himself started off
calling for huge stimulus packages to help generate "jobs, jobs,
jobs!"
But now, I have been hearing more and more from
senior Obama economic team members about the jobs they hoped for
coming at the very tail end of an economic recovery. Others are
talking about a GDP recovery -- but not a jobs recovery. They are
admitting as well that they underestimated the severity of this
recession and its impact on unemployment levels.
And all this while Goldman Sachs and other financial
houses have seen their balance sheets get cleaned up and bonuses
surge.
Fannie Mae reported a steep increase in the
percentage of home mortgages with overdue payments.
The government-backed mortgage investor said in a monthly summary
released Monday that 3.42% of the single-family mortgages it owns or
guarantees were 90 days or more delinquent in April, up from 3.15% a
month before.
Fannie's main rival, Freddie Mac, reported last week that its
single-family delinquency rate for May was 2.62%, up from 2.44% in
April.
In its busiest weekend in decades, the FDIC
closed 5 more banks bringing the number of total bank failures for the
year to 45.
This weekend exceeded the previous record
when 4 banks failed on a single weekend in February. Two of the seized
banks were located in California, two more in Georgia and one in
Minnesota. The FDIC was able to find buyers for 4 of the 5 failed bank
deposits.
Community Bank of West Georgia failed in the true sense of the
word. The FDIC did not find a suitable bank to assume their deposits.
The FDIC will mail checks directly to depositors for an amount
within the FDIC insurance coverage limit. It is estimated that the
bank had $1.1 million of uninsured deposits.
All
nations are beast nations in the end days and here we have the calls
that Satan's wants = one World Currency,
one World Religion,
one World Ruler = the Pope.
You can not get out
of debt with more debt it spells disaster. The loans are growing
massively to help give the impression of recovery when in fact a
global disaster is in the making.
California's controller said on
Wednesday that he would have to
issue IOUs in a week if
lawmakers can't quickly solve a $24 billion budget deficit, and the
state's treasurer plans to tap a reserve fund to meet debt service
costs. The measures came as a budget crisis deepened in the most
populous U.S. state and the gridlocked legislature
failed to pass
a proposed $11 billion in cuts.
From tech stocks to
high gas prices, Goldman Sachs has engineered every major market
manipulation since the Great Depression - and they're about to do it
again
Yesterday [Monday]
how someone or something unloaded 7+ million in JP Morgan shares
before market close? Wasn't it something like 1.5 million in the blink
of an eye? Someone wants out and now, but that's odd looking at $JPM's
performance for the last few weeks
Russian President
Dmitry Medvedev said on Tuesday existing reserve currencies, including
the dollar, have not performed their function, and a new
supranational currency was in the
making.
According to US
Treasury data issued Monday, Beijing owned 763.5 billion dollars in US
securities in April, down from 767.9 billion dollars in March. .
It was the first month since June 2008
that Beijing failed to purchase more U.S. T-Bills.
June 15, 2009 "Truthdig"
There are meetings being held Monday and Tuesday in Yekaterinburg,
Russia, (formerly Sverdlovsk) among Chinese President Hu Jintao,
Russian President Dmitry Medvedev and other top officials of the
six-nation Shanghai Cooperation Organization.
The United States,
which asked to attend, was
denied admittance.
Watch what happens there carefully....It is the
first formal step by our major trading
partners to replace the dollar
as the
world’s reserve currency.
U.S. credit card defaults rose
to record highs in May, with a steep deterioration of Bank of America
Corp's (BAC.N) lending portfolio, in another sign that consumers
remain under severe stress.
Delinquency rates an indicator of future credit
losses fell across the industry, but analysts said the decline was due
to a seasonal trend, as consumers used tax refunds to pay back debts,
and they expect delinquencies to go up again in coming months.
This week marks the end of the
dollar’s reign as the world’s reserve currency.
It marks the start of a terrible period of economic and political
decline in the United States. And it signals the last gasp of the
American emperium. That’s over. It is not coming back. And what is to
come will be very, very painful.
Barack Obama, and the criminal class on Wall Street,
aided by a corporate media that continues to peddle fatuous gossip and
trash talk as news while we endure the greatest economic crisis in our
history, may have fooled us, but the rest of the world knows we are
bankrupt. And these nations are damned if they are going to continue
to prop up an inflated dollar and sustain the massive federal budget
deficits, swollen to over $2 trillion, which fund America’s imperial
expansion in Eurasia and our system of casino capitalism. They have us
by the throat. They are about to squeeze.
This is no recession. We are
already on our way to a Depression (a GDP contraction of 10%) possibly
even another Great Depression. One in nine Americans are currently
receiving food stamps. Real unemployment (without birth/death seasonal
nonsense and all the other Federal gimmicks) stands at 20%.
So I don't buy the "green shoots" theory at all.
Having things get horrendous at a slightly slower rate is NOT a sign
of a recovery. Green shoots can pop up anywhere including the asphalt
in the parking lot outside my office. That doesn't mean the parking
lot is about to become a lush meadow.
There is a wonderful
smell of delusion in the air. As the state marches on to economic
Armageddon, there is now a large portion of bottom callers jumping
into the market. Many investors are now buying up homes in the Inland
Empire and other depressed areas for 50, 60, and sometimes 70 percent
off peak prices. A mentor once told me, “at times, things are cheap
for a reason.” At the low end, we may be seeing signs of a bottom. But
one thing people forget is that this does not necessitate that prices
will bounce up. Since we have emulated Japan in everything concerning
fiscal and monetary policy, we may have a stagnant decade of real
estate ahead of us. So for those buying homes for $100,000 and
collecting $800 in rent, you are a long way from cash flowing like a
mogul.
U.S. foreclosure filings
surpassed 300,000 for the third straight month in May and may hit a
record 1.8 million by the first half of the year, RealtyTrac Inc.
said.
A total of 321,480 properties received a default or
auction notice or were repossessed last month, up 18 percent from a
year earlier, the Irvine, California-based seller of default data said
today in a statement. One in 398 U.S. households received a filing
last month.
I have an unfortunate
sense that the “green shoots” in the economy that everyone is talking
about are nothing but dandelions. Sure, forcing $1 trillion of
taxpayer money in direct capital, guarantees, and diminished cost of
borrowing into the banking sector has permitted the major banks to
claim solvency for the moment. Yet we should not forget that this
solvency has come not through a much needed deleveraging of the
banking sector but rather from a massive transfer of the obligations
of private banks to the public, with the debt accruing to future
generations. And overall loan quality at U.S. banks is still the worst
in 25 years and deteriorating at
the fastest pace ever.
Replacing the dollar
has HUGE implications and the U.S. Government knows it.
Surfersvillage Global Surf News, 7 June, 2009
"The major powers of the world (Brazil, India, China, Russia) know
that once the dollars’ reserve currency status of the world is gone,
the U.S. military will shrink until it is a more even match-up of
players and they will have a greater say in world affairs."
http://asia.news.yahoo.com/rtrs/20090605/tbs-russia-china-swap-21231dd...
- June 6
Russia, China should dump dollar in trade-Medvedev
Reuters - Saturday, June 6
Leaders of Brazil, Russia, India and China, known by their BRIC
acronym, are meeting in the Russian city of Yekaterinburg on June 16
to discuss the role of the dollar in the global financial system among
other issues.
Indeed, the Treasury’s
financial crisis looms so large, it could wreck more havoc on the
economy and deliver more pain to average Americans than the subprime
mortgage disaster, the housing bust, the banking crisis, and the
collapse of General Motors put together …
It could create a rising tide of interest rates that
wipes out the effects of any stimulus, undermines any recovery, and
sabotages any new bailouts …
But unlike GM, Fannie Mae, Citigroup, AIG, and the
many others that the U.S. Treasury has bailed out in recent months,
there is no
institution on the planet big or rich enough to bail out the U.S.
Treasury itself.
Alabama’s most populous county
is preparing to stop road maintenance, close courthouses and shutter
services for the elderly after a court struck down taxes that pay for
about 35 percent of its budget.
Jefferson County, which includes Birmingham,
released a plan to cut $52 million from its budget as it appeals the
ruling against its business and occupational taxes to the Alabama
Supreme Court. Without that revenue, the county has said it is at risk
of running out of money as
soon as this month.
Investors have been blindsided
by one financial catastrophe after another over the last 18 months,
but throughout the tumult, the government bond market has been their
friend.
Until now.
A brutal drop in long-dated Treasury prices has
caught even the best money managers off guard -- in some cases wiping
out as much as 60 percent of the gains they booked in last year's huge
rally in U.S. Treasuries.
Russia and China should consider
switching to domestic currencies in bilateral trade without going to
the dollar, Russia's president
Dmitry Medvedev said in an
interview with Kommersant daily published on Friday.
No one really knows how many
houses are owned by banks. Banks often buy homes in foreclosure to
limit losses, hoping that they'll be able to turn the house around for
a profit later. But after months and months of foreclosures, banks may
now be preparing to sell the houses they've been buying. Anecdotal
evidence from Las Vegas, one of the foreclosure capitals of the US,
suggests that we're about to see a release of bank-owned home
inventory into the market.
The giant US bank JPMorgan
Chase has reportedly hired a newly-built supertanker to store heating
oil off the Mediterranean island of Malta. Other companies, including
BP and a unit of Citigroup, have also hired ships to store either
crude oil or oil products.
According to Bloomberg.com, “Traders were already
using smaller tankers to store record volumes of jet fuel and heating
oil in Europe as on-shore tanks filled up.”
One of the biggest
bankruptcies in history occurred on June 1st yet you would not know
this by looking at the stock market. In fact, the Dow Jones Industrial
Average (DJIA) shot up by 220 points. If we look at total assets, this
is the fourth largest bankruptcy in history. The Dow is made up of 30
companies that show a supposedly wide cross section of the American
economy. The company that filed for bankruptcy was General Motors and
was actually one of the 30 components. A company that dates back to
1908 and survived the Great Depression. So how can it be that a
company that employs 250,000 filing for bankruptcy is actually good
for the stock market and makes the DJIA rally so strongly? The easy
answer is the stock market no longer reflects the economic reality on
main street.
Because it's being manipulated
Dubai calls on the Rothschild bank for help, perhaps out of
desperation. In Saudi Arabia a Saad Group company defaults. US,
European and Asian banks are struggling. The end of Ramadan in
September might mark the start of an economic depression worse than
that of the 1930s.
WASHINGTON - U.S. Sen.
Jim Inhofe said Tuesday the federal fund that pays for highways will
run out of money by August, forcing Oklahoma to deprogram up to $80
million in projects.
The Fed can of course
print money to buy up every Treasury bond in existence, but the
inflationary ramifications would be Zimbabwe like, and crush the
dollar on international currency markets. Are we near the phase where
all hell breaks loose? I have never even answered, maybe, to this
question before. It's always been, "no." Now it's maybe.
OVERALL loan quality at American
banks is the worst in at least a quarter century, and the quality of
loans is deteriorating at the fastest pace ever, according to
statistics released this week by the Federal Deposit Insurance
Corporation.
The big story that
everyone will be talking about is the rapidly increasing yield on
longer-term maturities, and what that means for both the economic
recovery and the US' ability to finance its gigantic debt. Matters of
previously theoretical concern (what
happens if the world doesn't want to keep financing us anymore
- See news below)
are now coming into the fore.
General Motors Corp., the world’s
largest automaker until its 77-year reign ended in 2008, plans to file
for bankruptcy protection on June 1 and sell most of its assets to a
new company, people familiar with the matter said.
Mortgage delinquencies
and foreclosures rose to records in the first quarter and home-loan
rates jumped to the highest since March this week as the government’s
effort to fix the housing slump lost momentum.
Durable-goods orders
hovered near a 13-year low and the number of Americans collecting
unemployment insurance reached a 17th straight record, offering no
sign of an imminent rebound from the worst U.S. recession in half a
century.
But the head of the Dallas Federal
Reserve bank says: [There is a] "very big hole" in unfunded pension
and health-care liabilities built up by a careless political class
over the years. "We at the Dallas Fed believe the total is over $99
trillion," he said in February.
Total market
manipulation just as many have been warning that this rally is fake
and is about to end with a crash.
“Something strange happened during the last 7 or 8 weeks. Doreen you
probably can concur on this -- there was a power underneath the market
that kept holding it up and trading the futures. I watch the futures
every day and every tick, and a tremendous amount of volume came in a
several points during the last few weeks, when the market was just
about ready to break, and it shot right up again. Usually toward the
end of the day – it happened a week ago Friday, at 7 minutes to 4
o’clock, almost 100,000 S&P futures contracts were traded, and then in
the last 5 minutes, up to 4 o’clock, another 100,000 contracts were
traded, and lifted the Dow from being down 18 to up over 44 or 50
points in 7 minutes. That is 10 to 20 billion dollars to be able to
move the market in such a way. Who has that kind of money to move this
market?
On top of that, the market has rallied up during the stress test
uncertainty and moved the bank stocks up, and the bank stocks issued
secondaries – they issues stock – they raised capital into this rally.
It was perfect text book setup of controlling the markets – now that
the stock has been issued…” [interrupted by Richard Suttmeier].
The Fed's doing it.
The Bank of England says it plans to do it, too. With printing money
(or as they say today, "quantitative easing") back in fashion, TIME
reflects on Germany's efforts in the 1920s — and the crisis that
followed. Two days and store shelves were empty
Two days is all it took to
clear the store shelves when Germany's crash came and that was done by
people who had cash... get buying now... you have been warned for a
long time. The wise prepare for the disaster they see coming.
Nissan Motor Co. is likely to receive more
than ¥100 billion in low-interest loans set up by the U.S. government
to promote the development of and transition to electric vehicles and
other fuel-efficient cars, sources said Friday.
They are
planning to mass vaccinate most of the planet. See the many news
articles on the home page.
In order
for Project Blue beam to work they have to lower our immune systems.
This has to happen directly after Damascus destruction. Be wise and
educate yourself on Project blue beam which is the only scenario that
could possible deceive even the elect as we have to see the Lord
return in the clouds in order to believe he is back. Global
Holographic fraud.
PROJECT BLUE BEAM AS DESCRIBED BY
TINWIKI.ORG
Veteran financial guru
Jim Rogers warned CNBC viewers
today that the stock market has yet to
hit a bottom despite people ploughing their money back into a
sucker’s rally,
as the Bilderberg Group’s plan to
pull the rug out
from under euphoric investors
draws closer.
“It
was horrible. Horrible! Like lightning it struck. No one was prepared.
The shelves in the grocery stores were empty. You could buy nothing
with your paper money.” – Harvard University law professor Friedrich
Kessler on the Weimar Republic hyperinflation (1993 interview)
Some worried commentators are predicting a massive hyperinflation of
the sort suffered by Weimar Germany in 1923, when a wheelbarrow full
of paper money could barely buy a loaf of bread. An April 29 editorial
in the San Francisco Examiner warned:
“With an unprecedented deficit that’s approaching $2 trillion, [the
President’s 2010] budget proposal is a surefire prescription for
hyperinflation. So every senator and representative who votes for this
monster $3.6 trillion budget will be endorsing a spending spree that
could very well turn America into the next Weimar Republic.”1
Prechter even managed to call
this year’s March bottom, expecting a substantial bear market rally at
around 6,300 on the Dow, close to the bottom. However, he expects the
market to resume its downward trend shortly, ending with a decline
similar to the 86% in real terms of 1929-32 as we are in a long
Elliott Wave downswing. That would take the Dow down to around 2,000.
Personally, I would not go that far. This does not
look like a reprise of the Great Depression, although it could still
turn into one with enough policy mistakes another “stimulus plan,” or
a big dose of protectionism, for example. However, the downward
macroeconomic momentum looks bigger than in either 1974 or 1982, bear
markets that both brought real-term drops of slightly more than 50%
from previous highs.
The U.S. government and the
Federal Reserve have spent, lent or committed $12.8 trillion, an
amount that approaches the value of everything produced in the country
last year ...
The money works out to $42,105 for every man, woman
and child in the U.S. and 14 times the $899.8 billion of currency in
circulation. The nation’s gross domestic product was $14.2 trillion in
2008.
That means that every American household is on the
hook for $109,887 for the bailouts.
The economy faces an "emergency
situation," Finance Minister Yuval Steinitz warned on Monday, while
urging lawmakers to support the government's draft budget, as Israeli
exports plunged 32 percent in the first four months of this year
Harold Davidowitz is a an analyst and consultant to
the retail industry operating his own firm Davidowitz & Associates.
He's in the wrong industry. He should have Tim Geithner's job. This
guy is a frggin' genius. Seriously, watch both clips and tell me he
doesn't have a better grasp than Geithner and Summers.
Fannie Mae and Freddie Mac, charged
with helping lead the nation out of its housing crisis, are facing
"critical" financial problems, federal regulators said Monday.
The companies suffer from severe
financial, operational and compliance weaknesses, the Federal Housing
Finance Agency said a report to Congress detailing its annual
examinations of the firms. Taken over by the government in September,
Fannie and Freddie are not able to operate without federal assistance.
President Barack Obama,
calling current deficit spending “unsustainable,” warned of
skyrocketing interest rates for consumers if the U.S. continues to
finance government by borrowing from other countries.
The Truth is seen below he was
rejected by Saudi Arabia and China and has no choice but to say this .
“We can’t keep on just borrowing from China,” Obama
said at a town-hall meeting in Rio Rancho, New Mexico, outside
Albuquerque. “We have to pay interest on that debt, and that means we
are mortgaging our children’s future with more and more debt.”
4 articles down under Obama's
S.O.S. and you will see why he is now saying this = the u.s. has no
one to keep funding their debt = economic crash coming soon within
months so start buying food or wished you had. The wise prepare for
the famine.
The green shoots story took a bit of hit this
week between data on April retail sales, weekly jobless claims and
foreclosures. But the whole concept of the
economy finding its footing was “preposterous”
to begin with, says Howard Davidowitz, chairman of Davidowitz &
Associates.
“We’re in a complete mess and the consumer is smart
enough to know it,” says Davidowitz, whose firm does consulting for
the retail industry. “If the consumer isn’t petrified, he or she is a
damn fool.”
Davidowitz, who is nothing if not opinionated (and
colorful), paints a very grim picture: “The worst is yet to come with
consumers and banks,” he says. “This country is going into a 10-year
decline. Living standards will never be the same.”
Layoffs and mandatory
furloughs are no longer an option but a necessity, Mayor Antonio
Villaraigosa told City Council members Tuesday in a letter that asks
them to declare a fiscal
emergency.
Sony Corp.
reported its first annual net loss in 14 years and
forecast a bigger
loss this year, saying the pressure
from sliding sales, competition in gadget prices and a strong yen was
expected to continue.
U.S. industrial production
tumbled a 15th time in 16 months during
April, cut down by massive business inventory liquidation.
Industrial production decreased by 0.5% in April
compared to the prior month, the Federal Reserve said Friday. Output
fell 1.7% in March, revised from a previously estimated 1.5% decline.
Capacity utilization shrank in April to 69.1%, a
historical low since records began in 1967. March capacity use was a
revised 69.4%; originally, "cap-U" was estimated at 69.3% in March.
The 1972-2008 average was 80.9%.
I need to put the $33
trillion into perspective, because it is so big that it is almost
incomprehensible. According to Wikipedia..., total private wealth
across the world today is about $37 trillion less the losses incurred
in 2007-09, so the real number is probably closer to $30 trillion now.
Total global savings (loosely adjusted for the big losses in 2008) are
probably somewhere in the region of $100 trillion. In other words,
financing this crisis could absorb one-third of total global
savings...
START BUYING FOOD
... WHAT MORE DO YOU NEED TO SEE.
The current block of taxpayer money
that has been pledged by the US government and the Federal Reserve to
prevent the system from collapsing, according to an analysis by
Bloomberg News, is roughly $12.8
trillion as of March 31. This
money has been lent, spent or guaranteed to prevent a systemic
collapse.
You can not buy your
way out of debt with debt = massive collapse is in our future.
Retail sales in the U.S.
unexpectedly dropped in April for a second month, indicating that
rising unemployment is prompting consumers to conserve cash.
The 0.4 percent decrease followed a revised 1.3
percent drop in March that was larger than previously estimated, the
Commerce Department said today in Washington. Other reports showed
companies continued to cut stockpiles as demand slowed, and climbing
oil costs pushed up prices for imported goods.
Fewer jobs, falling home values and the biggest loss
of household wealth on record may limit consumers’ ability to spend
for years, analysts said. Stocks dropped for a third day as the
reports indicated any recovery from the worst recession in at least
half a century is likely to be subdued.
“It looks like consumers are losing momentum heading
into the second quarter and that is a very worrisome development,”
said Carl Riccadonna, an economist at Deutsche Bank Securities Inc. in
New York. “They have very significant headwinds and number one among
them is that the labor market is far from turning the corner.”
Last month, banking
analyst Mike Mayo predicted that loan loss rates could go as high as
5.5%, which is substantially higher than during the 1930s.
But the Federal Reserve's more adverse scenario for the stress tests -
which everyone knows is too rosy concerning most of its assumptions -
predicts a loan loss rate of 9.1%, nearly three times higher than
during the 30s.
Fannie’s regulator wants $19 billion
from the U.S. government because the firm has negative capital. Fannie
Mae had $23.2 billion in losses last quarter alone. And it says losses
in 2009 will be worse than 2008.
It is
hard to believe what is taken as good news. 539,000 jobs were lost in
April yet this was taken as a positive because it wasn’t 600,000.
Forget about the fact that the revised number for March was moved
upward to 699,000 from an initial 663,000. So it may be the case when
the final number for April is calculated in June, we might have
another 600,000 job loss month.
A world stock market collapse could
be imminent as a source of dollar support. We wonder how low they will
let the dollar go before they collapse the stock markets to chase
people back into US treasuries, which have also broken down, with
treasury interest rates on the rise despite various Fed purchases of
treasuries in the hundreds of billions.
According to one analysis, short
sales resulted in loan losses of only 19 percent, compared with an
average loss of 40 percent on homes sold after foreclosure. So
why aren't these sales more widely used? The broad answer is
that the American financial system simply can't handle a collapse of
this magnitude. The fates of the banking and real estate industries
are intertwined. But they don't work together and the result is that
they end up working against each other.
The
New York Times - MICHAEL J. de la MERCED -
GMAC, Among the Weakest, Seems in Line for a Bailout
-It looks as if one more bank needs a bailout. And, four months ago,
this bank was not even a bank. GMAC must raise a staggering $11.5
billion in capital, the equivalent of roughly half its current equity.
Troubled US auto
giant General Motors on Thursday reported a net earnings loss of
six billion dollars
in the first quarter,
as it faced the prospect of bankruptcy saddled with mounting debt.
Wells Fargo & Co.,
the fourth-largest U.S. bank by assets, requires about $15 billion in
new capital as a result of regulators' stress test on the lender,
according to a source familiar with the matter.
A growing number of U.S.
homeowners owe more than their properties are worth after prices
extended their two-year decline in the first quarter, Zillow.com said.
About 21.8 percent of all owners were underwater as
of March 31, the Seattle-based real estate data service said in a
report today. At the end of the fourth quarter, 17.6 percent of
homeowners owed more than their original mortgage, while 14.3 percent
had negative equity three months earlier.
Property values dropped 14 percent from a year
earlier in the first quarter, reducing the median value of U.S.
single- family homes, condominiums and cooperatives to $182,378,
Zillow said. The decline has left about 20.4 million of the U.S.’s 93
million houses, condos and co-ops with loans higher than the
properties are worth. The gain in underwater homeowners will lead to
more bank repossessions, Zillow said.
Many owners “would be more willing to bear the
financial consequences of bankruptcy or foreclosure,” Stan Humphries,
Zillow’s vice president of data and analytics, said in an interview.
“You are going to continue to see home prices fall for the rest of
this year and some portion of next year.”
Thought that subprime
housing was the only real estate market with big problems? Think
again. The reason that you've only heard about subprime mortgages is
because most of them were due to "reset" over the past year and a
half, which was accomplished by the banks taking mortgage cartridges
out of the system, blowing into them several times, and putting them
back in. In layman's terms, a mortgage "reset" is a part of many
mortgage contracts that generally calls for either a payment of a
certain amount to be made after five to seven years, or for the
mortgage to be re-negotiated after that same period of time (or both).
Do not live by fear
live by faith and God promised to protect you.
Fear is the key tool to trauma based or fear based mind control
which trough microwave (towers) frequencies they can speak at a low
volume into a humans head = see it here -> DOCTOR SHARP'S
Joseph
Sharp's voice to skull success,
performed with Dr. James C. Lin's pulsed microwave transmitter, and
publicly announced in 1974 at the University of Utah:
AUDIBLE sound
transmitted directly into a target's skull,
through a target's wall, of course, can drive the
through-the-wall target crazy,
and if the target complains, the target will be
immediately diagnosed as mentally ill.
The perfect crime.
Buy
when you should sell, sell when you should buy, and now the country of
Mexico just brings it's economy to a devastating halt and the stop
market climbs .... yep all you stupid people get in while you still
can before it completely collapses...do not sell thats for wise people
who can see... hurry it's sinking get in.
The Treasury has an agreement in
principle with the U.A.W. to protect pensions and retiree health
benefits as part of the filing, people with knowledge of the action
said.
This was only a matter of
time. Everyone from inside and outside GM assumed that the company
would default on its debt and likely go bankrupt barring some miracle.
But now it's official. The company's CFO says the
firm will not make its June 1, $1 billion debt payment reports WSJ.
The announcement comes as smaller rival Chrysler
appears headed for liquidiation.
Due to the lifting of the
foreclosure moratorium at the end of March, the downward slide in
housing is gaining speed. The moratorium was initiated in January to
give Obama's anti-foreclosure program a combination of mortgage
modifications and refinancing a chance to succeed. The goal of the
plan was to keep up to 9 million struggling homeowners in their homes.
But it's clear now that the program will fall well-short of its
objective.
Wall Street's stunning
six-week rally has been fed more by traders looking to take advantage
of quick swings in the market than investors with a long-term view,
NYSE Euronext (NYSE:NYX - News) CEO Duncan Niederauer told CNBC.
Because of that, the rally likely is to run out of
steam as low volume eventually comes back to the bite the market, he
said.
This recession is
already the longest since the Great Depression. Now merely saying that
this recession is the longest does not expose the magnitude and depth
of the economic damage inflicted on the market. $11.2 trillion has
been wiped off the balance sheet of American households.
Citing a backbreaking caseload of
foreclosures, the court serving the nation’s second-most populous
county has decided to postpone most foreclosures until September,
while it attempts to work through tens of thousands of existing
filings. Cook County, Illinois is home to Chicago and surrounding
areas and is also traditionally a foreclosure hotspot.
The Geithner/Summers
plan seems to hinge on reinflating the debt bubble. The outcome will
be inflation, a more serious crash, or both.
comment from what
really happened dot com's writter = Remember when I described the
bailout as taking a trillion from the people to give to the banks to
loan back to the people? Here it is .
One day after President Barack Obama
defended the multi-trillion-dollar bailout of the banks and pledged to
funnel more taxpayer funds into their coffers, the Wall Street Journal
published a front-page article headlined “Banks Ramp Up Foreclosures.”
General Growth
Properties Inc. filed the biggest real estate bankruptcy in U.S.
history after amassing $27 billion in debt during an acquisition spree
that turned it into the second-largest shopping mall owner.
Retail sales suffered an
unexpected big decline in March which broke two straight months of
improving sales, the government reported Tuesday.
The Commerce Department said total retail sales
fell 1.1% last month, compared with February's revised gain of 0.3%.
Sales in February were originally reported to have dipped 0.1%.
At a formal press announcement
Monday and in media appearances over the next day, US Secretary of
Defense Robert Gates unveiled the biggest military budget in world
history, in anticipation of an endless series of Iraq and
Afghanistan-style wars by American imperialism.
The Pentagon
sponsored a first-of-its-kind war game last month focused not on
bullets and bombs but on how hostile nations might seek to cripple the
U.S. economy, a scenario made all the more real by the global
financial crisis.
Simply accepting Washington’s
well-intended but ill-designed stimulus efforts for South Carolina
would indeed move us from courting disaster to guaranteeing it.
Major chains on Thursday reported
March sales results that were worse than their February figures,
though the rate of economic deceleration that plagued stores during
the holidays has slowed a bit. Sales for the overall retailing
industry fell 1.8 percent, according to Thompson Reuters.
Sweeping layoffs of government
employees are needed to prevent New York going bankrupt,
Mayor Michael Bloomberg
said Thursday.
Bloomberg, who is in tense negotiations with municipal workers'
unions, said an extra 7,000 jobs would have to go unless major
reductions are made in employee benefits.
A single clause in Point 19 of
the communiqué issued by the G20 leaders amounts to revolution in the
global financial order.
“We have agreed to support a general SDR allocation
which will inject $250bn
(£170bn) into the world economy and increase global liquidity,” it
said. SDRs are Special Drawing Rights, a synthetic paper currency
issued by the International Monetary Fund that has lain dormant for
half a century.
In effect, the G20 leaders have activated the IMF’s
power to create money and begin global “quantitative easing”. In doing
so, they are putting a de facto world currency into play. It is
outside the control of any sovereign body. Conspiracy theorists will
love it.
It has been a good summit for the IMF. Its fighting
fund for crises is to be tripled overnight to $750bn. This is real
money.
Yahoo!
Finance -As in the accompanying video,
Russell pulled no punches when he was (inevitably) asked for his views
on the market: "This bear market will be deeper and longer than most
people think," said the legendary market watcher. "People got
optimistic too quick" about the recent rally, which he says is doomed
to fail. "None of the characteristics of a major bottom" are evident,
most notably dirt cheap valuations.
Fed chief Ben
Bernanke has embarked on the most radical and ruinous financial rescue
plan in history. According to Bloomberg News, the Fed has already lent
or committed $12.8 trillion
trying to stabilize the financial system after the the bursting of
Wall Street's speculative mega-bubble. Now Bernanke wants to dig an
even bigger hole, by creating programs that will provide up to $2
trillion of credit to financial institutions that purchase toxic
assets from banks or securities backed by consumer loans. The Fed's
generous terms are expected to generate a flurry of speculation which
will help strengthen the banking system while leaving the taxpayer to
bear the losses.
More U.S.
consumers are falling behind on their mortgages, an indication that
the housing market has yet to hit bottom, a top credit bureau
executive told Reuters (April 7).
U.S. Information Systems for
Equifax Inc, reported that 7 percent of homeowners with mortgages were
at least 30 days late on their loans in February, an increase of more
than 50 percent from a year earlier.
He also said 39.8 percent of
subprime borrowers were at least 30 days behind on their home mortgage
loans, up 23.7 percent from last year.
A quarter of the
world's companies, and 40 percent in the United States, plan to freeze
salaries this year, but employees in South America and India can look
forward to robust rises, a global survey shows on Tuesday.
The IMF said in January that it
expected the deterioration in US-originated assets to reach $2.2
trillion by the end of next year, but it is understood to be looking
at raising that to $3.1 trillion in its next assessment of the global
economy, due to be published on April 21. In addition, it is likely to
boost that total by $900 billion for toxic assets originated in Europe
and Asia.
Greece is on the
brink of bankruptcy despite the fact that the global recession has yet
to hit the country with full force. Strikes are paralyzing the country
and the EU is putting on the pressure. But the government is still
trying to put a positive spin on things.
What began
as a financial crisis has become a global economic crisis. I fear
worse to come: a full-blown political crisis defined by growing social
unrest, weakened governments and angry publics who have lost all faith
in their leaders and their own future.
The massive
programs designed to rescue the nation's financial sector are
operating without adequate oversight, with vague goals and limited
disclosure of their details to the taxpayers who are paying for them,
government watchdogs told a Senate panel Tuesday.
Last Friday, the
Office of the Comptroller of the Currency reported that for the first
time in history commercial US banks have suffered a $3.4 billion
quarterly loss in a giant sector that they thought, until now, was
solid: that is, bets on interest rates. The loss was more than
seven times worse
than their previous quarterly loss in that category.
Companies in the
U.S. cut an estimated 742,000 workers in March, pointing to no relief
in sight for the labor market amid the longest recession in seven
decades, a private report based on payroll data showed today.
U.S. HAS A
POPULATION OF 300,000,000 AND NEARLY 1,000,000 JUST BECAME UNEMPLOYED
IN ONE MONTH.
World leaders
gathering for Thursday's G20 summit in London were warned today by the
Organisation for Economic Co-operation and Development that the world
economy was shrinking much faster than previously thought and that
global trade was in freefall.
Stock futures are
down sharply this morning ahead of the open. The DJIA is down 170
points while the NASDAQ is off 21 points. The mainstream media sources
are attributing todays sell off to a comment made from the Obama
administration that suggests a GM bankruptcy is a possibility. Is that
really the reason for the sell off? GM is a company with a $2 billion
market capitalization.
Washington: The
White House says neither GM nor Chrysler submitted acceptable plans to
receive more bailout money, setting the stage for a crisis in Detroit
and putting in motion what could be the final two months of two
American auto giants.
The number of
people filing initial claims for unemployment benefits rose last week,
while those filing continuing claims hit an all-time high for the
ninth straight week, according to a government report released
Thursday.
In the week ended
March 21, a total of 652,000 people filed initial jobless claims,
up 8,000 from the previous week's
revised figure of 644,000, the Labor Department reported Thursday.
Addressing the
European Parliament in Strasbourg, France, Prime Minister Mirek
Topolanek argued that the Obama administration’s fiscal package and
financial bailout “will undermine the stability of the global
financial market.”
The big
problem with Tim Geithner's plan to fix the banks is the same as it
ever was: The gap between what banks say their assets are worth and
what the market says they are worth.
When a bank says an asset is worth
60 cents and the market says it's worth 30 cents, someone has to cover
that spread. The genius of Geithner's plan is that it pawns most of
the cost (and most of the risk) off on the taxpayer without the
taxpayer noticing.
“The job market
will be the last piece of this to recover,” said economist Sam Chandan,
a panelist at the quarterly meeting of the Real Estate Investment
Advisory Council. REIAC members were polled on questions including
where unemployment will top out; 64 percent said it could go as high
as 12 percent.
A wave of social
and political unrest could sweep through the world's poorest countries
if G20 leaders fail to come to their aid, the World Bank warns today,
as new research says the credit crunch will cost developing countries
$750bn (£520bn) in lost output and drive millions more into poverty.
The Fed’s decision
to purchase $300 billion of long-term treasury bonds is indicative of
two things: 1) The U.S. government has lost all sense of value
relative to its currency, and 2) The U.S. Federal Reserve is getting
desperate and is running out of options.
Far from giving the economy any kind of boost, these tactics are
essentially more of the same, which has already proven futile in terms
of getting the economy moving again. Major financial institutions are
not lending or borrowing much more than they were when the crisis
began, and all the Fed is doing is undermining what little value is
left in the U.S. Dollar.
The New York Times
World Business Nelson D. Schwartz Manufacturing has fallen off the
cliff, and it’s certainly the biggest decline since the Second World
War,” said Dirk Schumacher, senior European economist with Goldman
Sachs in Frankfurt.
The pattern of manufacturing and
trade ominously recalls how the financial crisis of 1929 grew into the
Great Depression: tightening credit and consumer fear reduced demand
for manufactured goods in one country after another, creating a
downward spiral that reduced global trade.
U.S. credit card
defaults rose in February to their highest level in at least 20 years,
with losses particularly severe at American Express Co (AXP.N) and
Citigroup (C.N) amid a deepening recession .
China's
premier expressed concern Friday about its massive holdings of
Treasuries and other U.S. debt, appealing to Washington to safeguard
their value, and said Beijing is ready to expand its stimulus if the
economy worsens.
....
Analysts
estimate that nearly half of
China's $2 trillion in currency reserves
are in U.S. Treasuries and notes issued
by other government-affiliated agencies.
This
new about china's worries is not good as they could pull the plug on
the entire world economy and yes they would suffer badly but far worse
if they do not. 1 trillion in holdings of U.S. debt.
As I have
previously pointed out, unemployment may actually be higher than
during the same phase of the Great Depression. Specifically, as of
1930 - the year after the 1929 crash - the unemployment rate was 8.7
percent.
As of December 2008, U-6
unemployment was 13.5 percent. (U-6 is actually more accurate, because
it includes those who would like full-time work, but can only find
part-time work, or have given up looking for work altogether).
Investors take out
short trades when they expect a currency to fall. In recent days,
futures traders in the US have significantly increased their bets that
the euro will fall against the dollar. Data released by the
Washington-based Commodity Futures Trading Commission on Friday showed
that the "net short position" of trades against the euro by hedge
funds and speculators almost doubled in the week to March 3 to 19,431
contracts from 10,081 contracts a week earlier.
As the global
economy continues its downward spiral, rioting
due to this Wall Street led meltdown is spreading through the
globe
like wildfire. The list of countries
experiencing civil unrest
is growing by the day, to name some recent hotspots: Bolivia, Bosnia, Brazil,
Britain, Bulgaria, Cameroon, China, Egypt, France, Greece, Germany,
Haiti, Iceland, India, Indonesia, Ireland, Ivory Coast, Latvia,
Lithuania, Mexico, Montenegro, Morocco, Nigeria, Pakistan, Panama,
Philippines, Russia, Senegal, Thailand, Turkey, Ukraine and Yemen.
In a bleaker
assessment than those of most private forecasters, the World Bank
predicted Sunday that the global economy would shrink in 2009 for the
first time since World War II.
The bank did not provide a
specific estimate, but bank officials said its economists would be
publishing one in the next several weeks.
Until now, even extremely
pessimistic forecasters have predicted that the global economy would
eke out a tiny expansion but had warned that even a growth rate of 5
percent in China would be a disastrous slowdown, given the enormous
pressure there to create jobs for the country's rural population.
Yahoo! Finance
AP - FairPoint posts 4Q loss amid higher costs
FairPoint posts 4th-quarter loss as expenses weigh on
results, company suspends dividend
CHARLOTTE, N.C. (AP) --
Communications service provider FairPoint Communications Inc. posted a
fourth-quarter loss Thursday as higher expenses weighed on results.
The company also suspended its quarterly dividend to preserve cash and
bolster its balance sheet.
For the full year, FairPoint
posted a loss of $68.5 million, or 85 cents per share, on sales of
$1.27 billion.
A perfect storm of
bad news ripped through Wall Street on Thursday, sending the Dow
diving 281 points, the Nasdaq Composite to six-year lows and shares of
Citigroup below the $1 mark for the first time ever.
The Dow Jones Industrial Average fell 281.40 points, or 4.09%, to
6594.44,
MORE than 30,000
government employees - about 14 per cent of the public work force -
could lose their jobs and new taxes will be introduced as Puerto Rico
attempts to shore up its ailing economy, the governor of the US island
territory announced on Wednesday.
(THE
PEOPLE BRINGING THIS ABOUT ARE ALL INTO NUMEROLOGY AND 13 IS A
POWERFUL NUMBER WITH THESE WICKED MASONS)<- MY COMMENT
This
with Fri 13th of the 3 rd month coming!
According to todays ISM
release, the US Manufacturing sector dropped again in February while
the employment sentiment fell to its lowest reading ever. This is the
13th
straight months of manufacturing declines.
The Institute for Supply Management’ s (ISM)
monthly purchasing managers’ index (PMI) registered a reading of 35.8%
in February. Readings under 50% are consistent with a recession.
All of the 18 sectors surveyed reported a decline
in February. The employment sentiment index dropped to 26.1%, the
lowest reading
(THE
PEOPLE BRINGING THIS ABOUT ARE ALL INTO NUMEROLOGY AND 13 IS A
POWERFUL NUMBER WITH THESE WICKED MASONS)<- MY COMMENT
This
with Fri 13th of the 3 rd month coming!
Looks like Rivero's March 6,000
prediction may be correct.
Futures for the Dow Jones Industrial Average are down sharply
indicating an opening of 6,918, the lowest level in
13 years.
News of a massive loss from AIG, and the announcement that HSBC will
pull out of the US consumer lending business is weighing in on the
market. HSBC reported a 70% drop in profits as well as a dividend cut.
The recession
tightened its grip on U.S. businesses and consumers in February,
according to economists, who are predicting the largest one-month job
loss in almost 60 years.
The panic phase is
an acceleration in the economic decline … a chain reaction of debt
explosions … a free-fall in the financial markets … and a series of
rude awakenings that will accelerate the decline even further.
03 Mar 2009 Bad
debts and the global downturn are
threatening the
credit ratings of Australia's Big Four banks,
while new figures show business profitability is suffering its biggest
fall in almost two decades. As Wayne Swan warned that the severe
economic downturn faced by Australia's trading partners represented a
threat to growth, and the share market tested seven-year lows, credit
ratings agency
Moody's yesterday issued a warning on three of Australia's biggest
banks.
Billionaire Warren
Buffett said the economy will be “in shambles” for the rest of this
year as financial firms take losses tied to reckless loans made during
the housing boom.
News of the Citi
takeover rattled the markets and the Dow Jones fell further by weeks
end closing at 7,063 which was the lowest closing price since 1996.
The odds of the Dow Jones challenging the 6,000 level has increased
greatly.
Prices of US
Treasuries fell for a third consecutive day Thursday as excess supply
swamped the market for government debt. Today's specific culprit was a
huge 7-year note auction, though we are at last seeing an overall
awakening by bond traders to the reality that a mountain of supply is
coming and it will not be slowing down. The
first cracks
are finally beginning to show in the last remaining
asset bubble.
Delicate fiscal issues never discussed openly as recently as 12 months
ago, are now standard fare. The economist wondered aloud if the US
will be forced to default. Clusterstock has asked 'Default or
Hyper-inflation? An academic paper is floating around questioning the
solvency of the Fed.
Royal Bank of
Scotland came a step closer to full-scale nationalisation today as the
bank unveiled a record £24.1 billion loss and plans to raise up to
£25.5 billion from the taxpayer.
On Monday, the Dow
plunged 250.89, or 3.4 percent, to
7,114.78.
It last closed this low on May 7, 1997 when it finished at
7,085.65.
The Dow hasn't traded
below the 7,000 mark since October 1997.
IF IT BREAKS THIS
LEVEL IT MAY DROP VERY VERY FAST... GOD IN HEAVEN TOLD US TO BE WISE
SO PREPARE FOR THE WORST BUT DO NOT FEAR HAVE FAITH GOD WILL ALWAYS
PROTECT US WHO WALK IN HIS WAYS.
ChartingStocks.net
wrote in our 2009 forecast, contrary to Wall St consensus, that we
expect the Dow Jones to breach the 6,000 level this year and touch
upon 5,800. The risk to our outlook would have been if the Dow Jones
was able to hold the 2002 low but today’s action just raised the
probability of breaching the 6,000 mark.
In an effort to
curb the growing loan deficiencies and defaults, American Express is
offering its cardholders a $300 gift card to close their account and
pay off the balance by May 1st.
American Express
Co., the largest U.S. credit-card company by purchases, is paying some
cardholders $300 each to close accounts so the lender can reduce the
risk of defaults as the recession deepens.
World stocks
tumble in fierce sell-off;
investors concerned about troubled financial sector - Feb 21
The Dow [.DJIA
7555.63 3.03 (+0.04%) ] closed at 7,555 Wednesday, only a whisker
above the critical November low of 7,552, which many analysts agree is
holding the index back from a
sharp leg lower.
Very large? That's it? Just very
large? Twenty-five trillion dollars in losses are merely very large?
That is twice the size of the gross domestic product of European
Union.
It is not as
though there is a lot of time to deal with this. Bank runs can take
place very fast. What if Europeans try to pull out currency? There
will not be enough currency. So, they will move their assets to
American or Japanese banks. They will have to sell their domestic
currencies to buy dollars and yen. The euro will crater.
....
The European
Bank for Reconstruction and Development (EBRD) says bad debts will
top 10pc and may reach 20pc. The Vienna press said Bank Austria and
its Italian owner Unicredit face a "monetary Stalingrad" in the
East. . . .
Stephen Jen,
currency chief at Morgan Stanley, said Eastern Europe has borrowed
$1.7 trillion abroad, much on short-term maturities. It must repay –
or roll over – $400bn this year, equal to a third of the region's
GDP. Good luck. The credit window has slammed shut.
Not even
Russia can easily cover the $500bn dollar debts of its oligarchs
while oil remains near $33 a barrel. The budget is based on Urals
crude at $95. Russia has bled 36pc of its foreign reserves since
August defending the rouble.
"This is the
largest run on a currency in history,"
said Mr Jen.
About 220,000
stores may close this year in America, says our guest, retail
consultant Howard Davidowitz of Davidowitz & Associates. As more
Americans save and spend less, it's clear there's too much retail
space. Just visit Web site deadmalls.com and track retail's growing
body count. And luxury retailers? They're on "life support,"
Davidowitz says.
European banks
face an entirely new wave of losses in coming months not yet
calculated in any government bank rescue aid to date. Unlike the
losses of US banks which derive initially from their exposures to
low-quality sub-prime real estate and other securitized lending, the
problems of western European banks, most especially in Austria, Sweden
and perhaps Switzerland arise from the massive volumes of loans they
made during the 2002-2007 period of extreme low international interest
rates to clients in eastern European countries.
(I could list all
the Job losses but I will stick to the really big ones or this page
will become to long.)
And late in the
day, General Motors delivered the news that will make auto towns like
Oshawa and St. Catharines cringe. The world's biggest car company says
it will need between US$16.6 and $30 billion in federal aid to get
back on all four wheels - and it will have to shed a startling 47,000
positions to do it. It will also close five plants but won't say which
ones.
The Russian stock
market collapsed today, causing the RTS and the Micex stock exchanges
to suspend trading for one hour at 4:05 p.m. Moscow time. The RTS
stock index, which is denominated in US dollar,
plunged 9.4%,
while the ruble-denominated Micex stock index fell
9.6%.
Someone,
apparently someone in Asia, wants dollars. A LOT of dollars. There is
a forced-liquidation event underway that is massive, it is against all
asset classes and it is spreading.
It originated at approximately
7:15 CT this evening and originated out of Asia somewhere. All of the
primary currency crosses got hit at once - Euro, Pound, Yen - all
weakened dramatically against the dollar and it is still going on. The
Asian stock markets got walloped at the same time in coordinated waves
of forced selling.
Jesus warned us
not to have fear
but to have faith
in him to protect us but still be wise as serpents and prepare with
Cash and bulk food buys.
It is not a matter
of if this will happen but when this will happen and the freemason
mouth pieces are warning us it could happen all in one day so prepare
even though these wicked people who are bringing this about are
selling fear and are inherent liars still heed their warnings to
prepare as this is happening world wide.
Eastern Europe is
about to blow. If it does, it could take much of the EU with it.
It's an emergency situation
but there are no easy solutions. The IMF doesn't have the resources
for a bailout of this size and the recession is spreading faster than
relief efforts can be organized. Finance ministers and central bankers
are running in circles trying to put out one fire after another. Its
only a matter of time before they are overtaken by events. If one
country is allowed to default, the dominoes could begin to tumble
through the whole region. This could trigger dramatic changes in the
political landscape. The rise of fascism is no longer out of the
question.
Respected
economist John Williams, editor of ShadowStats.com, a popular website
that tracks real inflation figures, is advising that people hoard
physical gold as well as food
items in bulk so that they have
some means with which to barter as the economic crisis turns ugly.
Nouriel Roubini, a
professor of economics at the Stern School of Business at
New York University says, "The United States banking system is
effectively insolvent."
President Barack
Obama’s stimulus plan will be insufficient to avert the biggest U.S.
economic decline since 1946 as consumer spending posts its longest
slide on record, according to a monthly Bloomberg News survey.
GOD TOLD US TO
LIVE BY FAITH
NOT FEAR BE STRONG AND TRUST IN THE LORD
BUT SMART AND
START PLANNING FOR DISASTER ....IT IS COMING.
Prepare yourselves
for what is being said in this video... We are very close to a dollar
collapse in the U.S. which will bring down the world economy and it
almost happened. These masons always sell fear and embed Hypnosis into
their videos so Pray the Lord protect you but watch this video and
Know they always tell us in advance what they are going to do to us .
At 2 minutes, 20 seconds into this
C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how
the Federal Reserve told Congress members about a "tremendous
draw-down of money market accounts in the United States, to the tune
of $550 billion dollars." According to Kanjorski, this electronic
transfer occurred over the period of an hour or two.
Another Mason Gerald
Celente warning of the 3 rd world war in 2009 and the coming global
economic collapse.
This guy has never
been wrong just like Alex Jones because he to has
Sun symbols of
freemasonry in his signs
as well and look at the freemason
owned media
outlets that expose his work.
Remember that
these wicked Lucifer worshippers always let us know
what they are
about to do to us in advance.
Gerald Celente web site
header give him away as being a mason
Take note of the Eclipse
from
Apocalypto movie and the Sun worship.
The Sun symbol behind the Earth. The Earth being used as the new world
order symbol are all embedded into this guys header. See more about
the freemason
Sun Worship here
Britain is facing
its worst financial crisis for more than a century, surpassing even
the Great Depression of the 1930s, one of Gordon Brown's most senior
ministers and confidants has admitted.
Switzerland's biggest bank
UBS on Tuesday said it lost about
17 billion dollars
(13 billion euros) in 2008, the largest
full-year loss in Swiss corporate history,
as it announced that it would cut another 2,000 jobs.
The two largest
pension funds in California, the California Public Employees’
Retirement System (CalPERS) and the California State Teachers’
Retirement System (CalSTRS), have lost billions of dollars in value.
Hundreds of thousands of retiring state employees and teachers now
face the stark choice of accepting much reduced pension checks or
working past their retirement age.
World stock markets
dropped Monday, with financial and energy stocks leading the way down
as investors prepared for another week of poor earnings reports and
gloomy economic data.
California State Controller John Chiang announced on January 26 that
California’s bills exceed its tax revenues and credit line and that
the state is going to print its own money known as IOUs. The template
is already designed.
Instead of receiving
their state tax refunds in dollars, California residents will receive
IOUs.
Student aid and payments to disabled and needy will also come in the
form of IOUs. California is negotiating with banks to get them to
accept the IOUs as deposits.
California is often identified as the world’s eighth largest economy,
and it is broke.
Obviously the
Obama administration recognizes that it needs to keep the finger of
blame for the current economic collapse squarely pointed at the Bush
administration, which is certainly fair in large part (though the
Clinton deregulation of the banking industry played a major part in
the financial crisis and its enthusiastic promotion of globalization
began the massive shift of jobs overseas that has left the nation’s
productive capacity hollowed out). But it also seems to recognize that
it cannot tell the bitter truth, which is that our national economy
will never “bounce back” to where it was in 2007.
TAKE NOTE OF THE
ABOVE GRAPH I WAS SHOWN AND REALIZE THE ECONOMY WILL NEVER COME CLOSE
AGAIN.
The Brussels elite
are pretending the question does not arise, but the financial world
knows the question is there, hanging over the entire European Union
economy: is the single European currency going to break apart?
This year will see a
major economic breakdown followed by worldwide riots, as
people who have lost everything rebel against the situation, where
those in power save themselves at the expense of everyone else.
Caterpillar
Inc., Sprint Nextel Corp. and Home Depot Inc. led companies today
announcing at least 72,500 job cuts as sales withered and construction
slowed amid a global economic recession that may persist through 2009.
The biggest layoffs were at
Peoria, Illinois-based Caterpillar. The world’s largest maker of
construction equipment said it’s cutting 20,000 jobs after
fourth-quarter profit fell by almost a third.
Pfizer Inc., the New York-based
drugmaker that’s acquiring competitor Wyeth for $68 billion, said it
will close five factories and eliminate 19,000 jobs, or 15 percent, of
the combined
Be warned the
militaries of all western nations have been practicing for these riots
to happen here and all signs say it could happen soon.
Economic
conditions in Iceland
and other parts of the world continue to deteriorate as the effects of
the credit crisis affect the general economy.
Economic related
rioting is also increasing in Eastern Europe. In particular,
Latvia
has seen some extremely violent rioting. Rioting has also been seen in
Greece,
Bulgaria
and Lithuania.
There is a great deal of unrest in
China,... In particular, the
city of Guangdong, has seen large scale
rioting.
Investors
this week will face
the largest batch of company report cards yet, in what is quickly
shaping up to be the worst quarter
for corporate profits in a decade.
Catholic Masons decree
Order "out of Chaos"
We can see their finger
print at the scene of the New World Order's economic crime scene.
The world economy is
deteriorating more quickly than leading economists predicted only
weeks ago, with Britain yesterday becoming the latest nation to
surprise analysts with the depth of its economic pain.
Brace yourself: Cities and
towns across the state expect to lay off thousands of employees. The
impact will be widespread and highly visible - shorter hours and
longer waits at town halls, larger class sizes, more potholes.
Obama’s Nightmare
“Green Agenda” Officially Unveiled
President Barack Obama’s plan to
implement a cap-and-trade program that would cut carbon dioxide
emissions by 80 per cent and also sink an already battered U.S.
economy into a new great depression has officially been announced on
the White House.gov website.
Leading economist Nouriel
Roubini
said today that
the U.S. banking system is "effectively insolvent".
Polls
show that
Americans overwhelmingly think the government should stop providing
money to the banks.
All hopes of Gordon Brown
managing to save the world with October's great banking bail-out have
proved tragically misguided.
The £37billion injected into the banks last
autumn might have helped save the financial system from instant
meltdown. But its effects have proved at best temporary, and now the
money has disappeared without trace.
There’s
currently an idea to fix the financial system that’s getting quite a
bit of traction: an RTC-type program whereby the government would buy
$1 trillion of troubled assets from struggling U.S. banks, with the
goal of restoring them to health so they can begin lending again,
leading to an economic recovery.
The problem with this idea (let’s
call it “New RTC”) is that either the government will pay market
prices for the toxic assets – in which case, it will simply accelerate
the collapse of our financial system – or pay above-market prices, in
which case taxpayers will likely suffer big losses.
U.S. Stocks Slide in Dow
Average’s Worst Inauguration Day Drop - Jan 20 State Street
Corp., the largest
money manager for institutions, tumbled
59 percent after unrealized bond losses almost doubled.
Our financial
institutions are fighting for their lives and the Treasury may not be
able to bail them out. The government needs to get serious to avert
meltdown.
Two weeks after closing its
purchase of Merrill Lynch at the urging of U.S. regulators, the
government cemented a deal at midnight Thursday to supply Bank of
America with a fresh $20 billion capital injection and absorb as much
as $98.2 billion in losses on toxic assets, according to people
involved in the transaction.
The second lifeline brings
the government's total stake in Bank of America to $45 billion and
makes it the bank's largest shareholder, with a stake of about 6
percent.
"They were probably one of the best banks out
there, balance sheet-wise, until they did the Merrill deal," said
Cassandra Toroian, chief investment officer at Bell Rock Capital in
Pennsylvania, which owns the bank's shares.
Citigroup, once
the champion of the "financial supermarket" model, is splitting into
two operating units
in what is known as a "good bank/bad bank" strategy.
Citigroup, whose
shares have plunged 87 percent since the beginning of 2008, said it
recorded $28.3 billion of writedowns and credit losses in the 2008
fourth quarter. Losses over the past 15 months total more than $92
billion.
Bank of America
fell a whopping 18.43% today, hitting a new 52 week intraday low of
$7.35 on concerns it is not going to easily be able to digest the
merger with Merrill Lynch. I suggest Bank of America has easily bitten
off more than it can chew.
Electronic unemployment
filing systems have crashed
in at least three states in recent days
amid an unprecedented crush of thousands
of newly jobless Americans seeking benefits, and other states were
adjusting their systems to avoid being next.
Total price tag so far:
$7.2 trillion in investment and loans. That puts a lot of taxpayer
money at risk. Now comes President-elect Barack Obama's economic
stimulus plan, some details of which were made public on Monday. The
tally is getting awfully close to $8
trillion.
THE
WORSENING ECONOMIC CRISIS has prompted the US Army War College to
issue a report urging the use of military troops to contain possible
civil unrest throughout America.
Entitled, Strategic Shocks in
Defense Strategy Development, issued on November 4, 2008, the report
argues that the US military must prepare
for a “violent domestic dislocation provoked by an
economic collapse.”
The report was authored by Nathan
Freier, an Army lieutenant-colonel and professor at the US War College
in Carlyle PA - the Army’s main training institute for prospective
senior officers. Freier consigns dissenting Americans to the category
of “hostile groups:”
“Civil unrest would force the
defense establishment to maintain domestic order. Under certain
circumstances this would include use of military force against hostile
groups inside the United States.”
As if access to credit
wasn't already tight, credit card companies are slashing consumer
credit lines and closing inactive cards - a move that could harm
borrowers' credit scores and restrict access to loans. "Card issuers
are playing defense, "trying to limit their risks in "the poor
economic climate and against the prospect of continued consumer
defaults," said Greg McBride, senior financial analyst at Bankrate.com.
But the lenders' actions could bring more worries for consumers.
The long-held
assumption that US assets - particularly government bonds - are a safe
haven will soon be overturned as investors lose their patience with
the world's biggest economy, according to Willem Buiter.
Toyota is
suspending production at all 12 of its Japan plants for 11 days over
February and March, a stoppage of unprecedented scale for the nation's
top automaker as it grapples with shrinking global demand.
At the docks
here, the stacks of shipping containers that used to loom above the
highway overpass are gone. Logistics managers say they negotiate
deeper discounts every week on ships that are leaving half empty.
In nearby Guangdong Province, so
many factories are closing without paying employees that some workers
are resigning pre-emptively and demanding immediate pay before their
employers go bankrupt.
For those of you
who don't know, consumer spending makes up roughly 70 pct of the US
economy, yet many consumers have been pulling back due to job
insecurities, declining credit lines, falling wealth effect (caused by
falling home values/cratering retirement plans) and overall general
unease about the future. The end result of this pull back:
Significantly declining retail sales - leading to numerous store
bankruptcies and closings.
U.S. retailers face a wave
of store closings, bankruptcies and takeovers starting next month as
holiday sales are shaping up to be the worst in 40 years.
Analyst:
One Third Of Banks
Could Collapse In 2009
- Dec 25
Financial analyst Ralph Silva of
TowerGroup told CNBC
this morning that he expects no
less than one third of banks to
fail in 2009 and that anything
up to a thousand could
collapse if they don't
merge.
At one time or
another we have all heard it said that "you cannot get there from
here". Much the same can be said of the current state of the US
economy. Every prominent economic pundit is focusing on falling demand
as the economy's nemesis. Nouriel Roubini points out that "85 percent
of aggregate demand consumption and fixed investment is now in free
fall". It's even worse than that because final demand as it is
calculated does not include inter-business spending (spending between
the stages of production).
The economy is on
the brink of an absolute catastrophe.
I’ve been saying for six or seven months now that we’re in 1931. In
1931, a recession that started with the Crash of 1929 tipped into a
fifteen-year depression. We are on the precipice of that. If we are
very lucky and if we do everything very right from now, we will
probably have a two- or three-year very bad recession. If we’re not
very lucky or if we don’t do everything right, we could easily have a
ten- or fifteen-year depression, a repeat of the 1930s.
In the United States, the
danger of debt insolvency is growing, putting at risk the currency
reserves of foreign countries, China chief among them. According to
new figures published by Bloomberg in recent days (Nov. 25, 2008 [1]),
the American government has employed a total of 8.549 trillion dollars
to stop the financial crisis. This means a total of about 24-25.4
trillion dollars of direct or indirect public debt weighing on
American taxpayers.
The report by the
U.S. Army
War College's Strategic Institute, said that a defense community
paralyzed by conventional thinking could be unprepared to help the
United States cope with a series of unexpected crises that would rival
the Al Qaida strikes in 2001, termed a "strategic shock."
The head of the
International Monetary Fund has warned that advanced nations will be
hit by violent civil unrest if the elite continue to restructure the
economy around their own interests while looting the taxpayer.
It seems each new piece of
data lately prompts another round of downward revisions to economists’
estimates of fourth-quarter gross domestic product.
The latest? Take this morning’s report on
international trade, which showed the U.S. trade deficit unexpectedly
widening to $57.2 billion in November from $56.6 billion the previous
month mostly because exports of goods and services were even weaker
than expected, while imports showed a more moderate drop (skewed
partly by lower petroleum prices).
Dozens of millions of newly
retired “baby-boomers” are beginning to call upon payback from these
[pension] funds. According to our team, it is likely that,
by the end of 2008,
this crisis will be the dominant aspect of the current global
financial crisis. It will also provoke a social crisis affecting
pensioners, in particular in the US (45 percent of pension funds’
total assets in the world), in Japan (18 percent) and in various
European countries depending heavily on capital-based pension systems
The nations
number 2 toy retailer, KB stores has declared bankruptcy and will
close down it’s 277 stores citing a “sudden” drop in sales. The
companies 11,000 employees will be left looking for work.
KB was able to make it through the
first great depression but couldn’t manage to survive the current
collapse.
Dow 4,000. Food shortages.
A bubble in Treasury notes. Fortune spoke to eight of the market's
sharpest thinkers and what they had to say about the future is
frightening.
Global oil
demand will collapse next year and commodities will not return to the
highs they reached this summer in the foreseeable future, two
authoritative reports said on Tuesday as they forecast a
long and painful worldwide recession.
The stark conclusions came as the
World Bank’s chief economist predicted that the world faced “the worst
recession since the Great Depression”.
The US energy department said
global oil demand will fall this year and next, marking the first two
consecutive years’ decline in 30 years.
The slump in US
clothing sales since the summer has led to a precipitous drop in the
number of overseas factories shipping to the US, import documents
show.
Panjiva, a firm that analyses information drawn from shipping
manifests filed with US Customs, said the number of global suppliers
actively serving the US market fell from 22,099 in July to just 6,262
in October, a decline of more than 70 per cent.
California
lawmakers just got a Henry Paulson-like ultimatum from state
officials: If they don't act, the state could be forced to suspend
road, bridge, and other public-works projects as early as next week.
Come March, California will be out of cash for even day-to-day
operations.
Rio Tinto Group,
one of the world's largest miners, will cut 14,000 jobs worldwide and
reduce capital investment as part of new measures to reduce its debt
amid waning demand for iron ore and other metals, the company said
Wednesday.
The purpose of the
current financial catastrophe was to infect the entire world financial
system with toxic waste and other unregulated derivatives, also known
as financial weapons of mass destruction, to bring it crashing down so
that a single world financial system with a single medium of exchange
could be set forth as the suggested solution and then crammed down our
throats in yet another nauseating and tiresome iteration of the
Hegelian Dialectic.
London-based GFC
Economics is making a frightening prediction: By spring 2009, the
United States could be facing more than 1 million layoffs every
successive month.
Chinese officials
urged the U.S. to do everything possible to restore calm to financial
markets and said they are preparing for a “worst-case scenario” as the
global crisis deepens.
General Motors
Corp. and Chrysler LLC executives are considering accepting a
pre-arranged bankruptcy as the last-resort price of getting a
multibillion-dollar government bailout, said a person familiar with
their internal discussions.
The announcement
today of a deal reached between the U.S. Treasury and the moribund
insurance giant, A.I.G. provides a very lucid insight in to the
nefarious and destructive world of the Troubled Asset Relief Program,
otherwise known as T.A.R.P..Not only have A.I.G. received $152 billion
to date and subsequently reported a third quarter loss of $25 billion,
now they are to be cleared of their obligation on $53 billion worth of
toxic credit default swaps. U.S. taxpayers are now on the hook for
$205 billion..
Deflation has
already set in and it's now realistic to start talking about another
"D" word, this one being depression. Before we can use a word, we must
define it. For the sake of argument, let's define depression as
unemployment of 10% or greater.
The U.S. government is
prepared to provide more than $7.76 trillion on behalf of American
taxpayers after guaranteeing $306 billion of Citigroup Inc. debt
yesterday.
"Capesize Vessels" weigh
from 175,000 tons to 400,000 tons and count as some of the largest
craft in the World. They typically carry raw materials such as Iron
ore, Steel, Coal and other raw commodities. Where you used to pay up
to $230,000 per day to rent one, now you can have one for a measly
$2800 per day. Lloyds even reported yesterday that one Capesize vessel
was going for $1000 per day.
"Fed unveils $800
billion plan to bolster lending, housing"
This headline adorns the front pages of newspapers this evening. Is it
just me or is the Fed getting these plans from cereal boxes at the
White House breakfast ? Two or three pieces of cardboard and plastic
for Henry and team to assemble in to something before another
gruelling day of getting rid of all the money before the other guy
takes office in January.
The Federal Deposit
Insurance Corp. reported Tuesday that the number of firms on its
so-called problem bank list grew to 117 during the second quarter -
its highest level since the middle of 2003. There were 90 banks on the
problem list in the first quarter.
The total
cost of funds committed to the bailout in its various guises has now
hit $8.5 trillion dollars, up from $7.7 trillion in just two days
after the federal government committed an additional $800 billion to
two new loan programs on Tuesday.
The total amount of funds now
committed equals a figure that represents 60 per cent of the U.S.
gross domestic product.
American
International Group Inc. said Wednesday it received $40 billion from
the Treasury Department as part of the government's latest plan to
help the embattled insurer stay in business.
Riots and protests in
Reykjavik calling for the government of Iceland to resign have
increased following a financial catastrophe that has wiped out half of
the krona’s value and put one third of the population at risk of
losing their homes and life savings. Could similar scenes of civil
unrest be repeated in the United States as the economy continues to
implode?
Today, the U.S.
government is giving Citigroup another $20 billion dollars (in
addition to the $25 billion already given), and guaranteeing $306
Billion in toxic assets.
Citigroup, the
embattled financial giant, is taking out advertisements in major US
newspapers today in an attempt to shore up customer confidence after a
downward spiral in its share price raised doubts about its future.
Yesterday was a historic
day for the market. The Standard & Poor’s 500 Index plunged by 6.7% to
752.44. The
bear market low of October 2002 was 768.63 — and we sliced through it
like a hot knife through butter.
According to
all accounts the US faces its worse economic crisis since the Great
Depression with $2 trillion in near-term financing needs for bailouts
and economic stimulus. This is an enormous sum for any country,
especially for one that is so heavily indebted that it is close to
bankruptcy. If the money can’t be borrowed abroad, it will have to be
printed–a policy that carries the implication of hyper-inflation.
In normal life a borrower who must
appeal to creditors makes every effort to bring order to his financial
affairs. But not the Bush regime.
Deleveraging, deflation and
depression are feeding one another in a potentially vicious manner.
With banks facing strain again, governments must rapidly complete
existing recapitalisation plans and probably take further steps to
prevent excessive belt-tightening.
Despite an increasingly
uncertain economy, thousands of homebuyers around San Francisco Bay
kept snatching up foreclosed homes last month, dragging down the
median home price by 41 percent from a year ago, a real estate
tracking firm said Thursday.
The financial crisis is
deepening, with the risk of seriously disrupting the system of
international payments.
This crisis is far more serious than the Great
Depression. All major sectors of the global economy are affected.
Recent reports suggest that the system of Letters of Credit as well as
international shipping, which constitute the lifeline of the
international trading system, are potentially in jeopardy.
The proposed bank "bailout" under the so-called
Troubled Asset Relief Program (TARP) is not a "solution" to the crisis
but the "cause" of further collapse.
Investors have spent the
last few weeks bemoaning the devastation to their portfolios caused by
the stock market downturn, which if it does not produce recovery by
year-end will have made 2008 the worst stock market year since 1937.
Their misery would be compounded if they knew that next year, while it
may avoid more than moderate stock market mayhem, is likely to produce
the worst bond market carnage in US history.
House prices across the UK
have already fallen far further than official data and market
indicators suggest, Rightmove, the online estate agent warned
yesterday, as it revealed that up to 300 estate agents were quitting
its service every month.
Free-spending U.S.
consumers who bought everything from homes to groceries on borrowed
money are running out of credit, and paying the bills will cost the
world's biggest economy and its trading partners dearly.
The federal government
began the new budget year with a record deficit of $237.2 billion,
reflecting the billions of dollars the government has started to pay
out to rescue the financial system.
The warning is out
– Mayor Richard M. Daley says a parade of corporate chief executives
have told him huge layoffs
are planned around the city and
will carry into next year.
This comes out as Bloomberg L.P.
has filed a lawsuit to force the Federal Reserve to provide more
information about which companies are receiving money and what assets
have been pledged to get the money. Although the bailout was initially
approved amid claims that there would be total transparency, the
reality has fallen far short of that.
They Did It On Purpose: The
Housing Bubble and Its Crash Were Engineered from the Highest Levels
of the U.S. Government, the Federal Reserve, and the Financial
Industry
Ford Motor Co. said Friday
it lost $129 million in the third quarter as the struggling automaker
burned through $7.7 billion in cash and set plans for more job cuts.
Ford said it will eliminate about 2,260 more
white-collar employees in North America as it battles continued weak
demand, the credit crisis and the worst economic downturn in decades.
General
Motors Corp. says it lost $2.5 billion in the third quarter and warned
that it could run out of cash in 2009.
GM also said it has suspended
talks to acquire Chrysler. While it didn't specifically name the
automaker, GM said it was setting aside considerations for a
"strategic acquisition."
The automaker also said its cash
burn for the quarter accelerated to $6.9 billion due to a severe U.S.
auto sales slump.
Major indexes have lost
about 10 percent since Barack Obama was elected president - a vote
preceded by a steep rally -- and the losses represent the Dow's worst
two-day percentage decline since the October 1987 crash.
A top General
Motors Corp. (GM) executive on Wednesday said the next 100 days could
represent the most crucial time in the history of the troubled company
and entire U.S. auto industry.
Troy Clarke, president of GM North
America, urged auto industry executives to make the case to Washington
leaders that the failure of auto companies would have devastating effects on
the economy.
The situation now
is that for those shipping companies that can actually get letters of
credit are now slowing down their ships to reduce fuel consumption,
slashing crew numbers and leaving some of their tonnage in dock with
the lights out.
The problem with letters of credit, which are needed before a vessel
leaves harbour, is that demands between banks are being denied as
banks are not trusting each other.
...the macroeconomic
fundamentals today are much worse, so that we are in for a protracted
period of economic depression – a depression much worse than the Great
Depression, a depression that would likely be remembered in history as
“The Second Great Depression” or The Greater Depression, as Doug Casey
has called it so aptly.
It all started
with sub-prime loans in the United States. Or did it? As the IMF is
called in to bail out failing economies, the scale of European
exposure to toxic debt is becoming clear.
Investors,
as a direct result of lower interest rates which reduce the cost of
borrowing money, are now quite happy to balance the scales of Risk and
investment cost. "Safe havens" are now seen as too safe and not able
to generate the giant profits that they are running after. But in
their quest for profit, they are about to restart the game which blew
up in their faces quite recently.
Exxon Mobil Corp., the
world's largest publicly traded oil company, reported income Thursday
that shattered its own record for the biggest profit from operations
by a U.S. corporation, earning $14.83
billion in the third quarter.
The U.S.
administration has prompted a huge surge in the U.S. dollar, which may
help refinance its financial sector. The cost is a currency whirlwind
that threatens the collapse not just of banks and companies but entire
countries.
In the past week the financial
crisis, which began in banking and spread to stocks, has careered into
the currency markets. The U.S. actively decided back in September 2008
to shut down the investment banks that lend to the biggest
professional investors. This has caused those investors to sell
anything and everything and to settle their trades.
“If it turns out
that they are hoarding, you’ll have a revolution on your hands. People
will be so livid and furious that their tax money is going to line
their pockets instead of doing the right thing. There will be hell to
pay,” Dodd told the New York Times this weekend.
"Nationwide,
261,255 homeowners received at least one foreclosure-related filing in
May, up 48 percent from the same month last year, and up 7 percent
from April" Realtytrac.com.
The figures above reflect a truly
miserable situation in the everyday life of Americans. Before the
property is actually foreclosed upon, the utilities would probably
been off for 3 months or so. No light, no heat no water.This is the
reality that the Fed is ignoring as it hands out money hands over fist
to the very organisations that caused this untenable situation.
Do not follow
Warren Buffett's advice and by stocks or you will be giving your money
to the bad guys who will short your money into their pockets. Warren
Buffett is clearly a Mason.
Insiders were warning that
some ten hedge funds were ready to collapse, with the resulting
liquidations likely to force the markets down even further. But
today's rally pulls those hedge funds back from the brink, and nobody
can really explain why it happened.
The federal reserve caused
the 700 billion dollar bailout. Share this video with everyone you
know. The Rothschilds and the Bank of England, and the London banking
houses which ultimately control the Federal Reserve Banks through
their stockholdings of bank stock and their subsidiary firms in New
York. The two principal Rothschild representatives in New York, J. P.
Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll
Island Conference The Federal Reserve was created with no
constitutional authority in 1913, the Fed prints money out of thin air
and loans it to the U.S.
Financiers enjoying a
respite from the panic of the past few weeks should brace themselves
for further mayhem tomorrow,
the deadline for insurers of Lehman Brothers' debt to
pay up on billions of dollars of policies.
WASHINGTON - When
President Bush hosts a world financial summit in the coming weeks, one
of the least multilateral American presidents in decades will set in
motion what could result in a full reordering of the global financial
system.
The series of summits that Mr. Bush announced over the weekend at Camp
David with European leaders at his side suggests a broad understanding
among them: that the current crisis requires the kind of global
regulatory reforms that have eluded major powers in the past.
Warning lights are flashing
in eastern and central Europe, where Hungary and Ukraine are seeking
bail-outs from the International Monetary Fund to avoid the turmoil
that threatens to bankrupt Iceland.
Current emergency meetings
on banks and markets are still only in the stage where politicians and
central bankers are bickering over how to create a few more hundred
billions Euros and FRNs. But toxic MBS pale in comparison to the
mushrooming growth of the derivatives market. According to figures
released in the quarterly review of the BIS (pp A103) in September the
total notional amount of outstanding derivatives in all categories
rose 15% to a mindboggling $596 TRILLION as of December 2007.
NEW YORK (Reuters) -
Financial institutions ran to their lender of last resort for record
amounts of cash in the latest week, under extreme pressure from the
worst global financial crisis in a generation, Federal Reserve data
showed on Thursday.
Banks and dealers' overall direct borrowings from
the Fed averaged a record $437.53 billion per day in the week ended
October 15, topping the previous week's $420.16 billion per day.
Some analysts are concerned that banks'
dependence on Fed lending might become long term and difficult to
change.
Ask your self how
much money does the Federal reserve have to keep lending at this rate
and if they said no
... instant
implosion on a global scale.
Create the crisis
then offer the One World currency solution.
The Fed's report,
released Thursday, shows commercial banks averaged a record $99.7
billion in daily borrowing over the
past week.
The old record — a daily average of $75 billion — was from the prior
week. On Wednesday alone, $101.9 billion was drawn, an all-time high.
Citadel confirmed
to CNBC that its flagship Kensington and Wellington funds, which hold
around $15 billion in assets, are down between 26 percent and 30
percent so far this year. But Chicago-based Citadel denied rumors that
it's having difficulty meeting margin calls and is facing mass
redemptions. The firm also denied that it's unwinding any positions.
Leading economist
Nouriel Roubini explains in bullet-point form how hedge funds are
driving the stock market collapse. Take careful note of how credit
default swaps are a key factor in the stock market sell-off, and how
another type of derivative - "collateralized fund obligations" - may
be the next shoe to drop
The total
potential cost of the financial bailout to the U.S. taxpayer is
already rapidly approaching $5 trillion, over seven times as much as
the meaningless $700 billion bailout bill figure.
Most of the gains came in a
rocket surge in the last two hours. You would think champagne corks
would be popping around the country. And yet I have not heard one
analyst say they trust it. In fact many are advising clients to use it
as a chance to sell and reduce their risk exposure.
In statements before Wall
Street opened Tuesday, Oct. 14, President George W. Bush and treasury
secretary Henry Paulson explained that the Federal Reserve’s $250
buyout of stakes in US banks was a short term measure to alleviate the
credit crisis.
Nothing new under the Sun.
What has happened will happen again . Watch for the nuclear attack on
Iran and Syria to land on days similar to the last Black Monday's
crash. Remember Bush is about to place the world economy into a
catastrophic state which has no room for a nuclear attack on Iran.
Lift up you head when you see these things begin to come to pass. All
is in place but the global famine getting into high gear would leave
us with the Russian sneak attack with Iran and China while they are
saying Peace and Safety possibly the next day at noon. It comes as a
snare upon this World at a time we think not. God only knows for
sure how this unfolds but one thing we do know for is you need to
start preparing for the three years after the Nuclear disaster =
Famine. Start buying Brown Rice and begin to store food. Here is
a great place to get storable food for a reasonable price.
US Federal
Reserve announced a $330 billion expansion of arrangements to boost
U.S. dollar liquidity throughout the global financial system.- Sept 29
The action
increases the reciprocal swap lines with the European Central Bank
and eight other central banks to $620 billion from $290 billion
previously. - Sept 29
You need to research Black Monday's stock market
crash In 1920 and 1987. They were both in
October
A majority of people now
know Al Qaeda was created by the C.I.A. to fight Russia and now is
commonly called C.I. Al Qaeda. When we see news that says Al Qaeda
Warning of an October Surprise it means the C.I.A. is planning an
election shifting event. Don't take my word for it read this online
encyclopaedia link to the proof =
http://en.wikipedia.org/wiki/October_surprise
Just before the,
(By design) Monday October 19
1987 crash, we saw the U.S.
attack Iran.
Scripture warns we
will hear rumours one year = 2007 and then another = 2008
Jeremiah 51:46
And lest your heart faint, and ye fear for the
rumour that shall
be heard in the land; a rumour
shall both come one year,
and after that in another year shall come
a rumour,
and violence in the land, ruler against ruler.
The weekend
before the crash, millions brood over
what is perceived to be a
worsening economic picture and
become increasingly concerned about tensions in the Middle East. With
the risk-free yield on a 30-year bond at 10.12%, only a hair below the
long-term annual return from the stock market of 10.60%, many must be
wondering why they are in stocks at all. Government officials decry
bond yields as "needlessly high" and based on "exaggerated
fears of
inflation."
JESUS WARNED US
NOT TO FEAR AS
SATAN CONTROLS YOU LIKE A PUPPET WHEN YOU FEAR.
REMEMBER THAT PETER
FEARED AND THEN DENIED JESUS THRICE. GOD'S CHILDREN WILL BE LIVING BY
FAITH WHEN
HE COMES AND HE IS ABOUT TO COME. THE WISE VIRGINS PREPARED FOR THE
FAMINE TO COME.
October 19,
1987
In the early
morning, two U.S. warships
shell an Iranian
oil platform in the Persian Gulf.
Combined with a myriad of economic factors, this helps to set off an
unprecedented 508 point downpour in the Dow Jones Industrial Average
Why This Financial Bailout Isn't Like the S&L Rescue and
May Not
be as Successful
This is
designed to fail.
Foreign banks may get help from US taxpayers
U.S. Bailout Plan Calms Markets, But Struggle Looms Over Details
The plan
offered to Congress also gives the Treasury legal immunity from any
lawsuits. "Decisions by the secretary pursuant to the authority are
non-reviewable … and may not be reviewed by any court of law or any
administrative agency," the proposal says.
The [bailout] proposal is ``a clear abdication of all oversight
and fiscal authorities to a Secretary of Treasury that has bungled
this crisis from the beginning,'' said Joshua Rosner, an analyst at
the independent research firm Graham Fisher & Co. in New York. ``This
is Marxism. And I mean Groucho not Karl.''
John Bogle, who created the $106 billion Vanguard 500 Index Fund in
1976:
``We're playing a game of
casino capitalism,
interfering with the way the market is working. The government seems
punch drunk. It doesn't seem systematic.''
Federal Reserve historian Allan Meltzer said U.S. government
efforts to cleanse
financial institutions of troubled loans shouldn't be
financed by taxpayers.
"The American
people are furious that we're in this situation, and so am I," the
House's top Republican, Ohio Rep. John A. Boehner, said in a
statement. "We need to do everything possible to protect the taxpayers
from the consequences of a broken Washington."
Senate Majority
Leader Harry Reid, D-Nev. said "we cannot allow ourselves to be in
denial about the threat now facing the world economy. From all
indications, that threat is real, and the consequences of inaction
could be catastrophic. Every single American has a stake in preventing
a global financial meltdown."
Lehman
Brothers, the fourth biggest American investment bank, filed for
bankruptcy early Monday, leaving 30,000 jobless worldwide and $600bn
in debt on what some called the most catastrophic day in a century for
global financial markets.
The European Central Bank
injected 30 billion to steady the markets, followed by the Bank of
England, which earmarked 5 billion sterling to arrest the City’s
slide.
Lehman Brothers crashed after
Barclays and the Bank of America withdrew their bids to rescue the
158-year old banking institution and the federal government refused a
bailout.
The Bank of America bought out
the limping Merrill Lynch for app. $50 bn, but the American
International Group Inc. (AIG), once the world's largest insurer, is
struggling to survive.
Ten US and foreign banks set up a
$70bn fund to save troubled companies.
The collapse of the three biggest
names on Wall Street threatens to wipe out many billions of dollars
from pension funds and the banking and insurance industries in a
worldwide chain reaction of turbulence.
Tel Aviv fell sharply with other
world markets as The US government and Federal Reserve failed to in
their efforts to bring the financial landslide under control over the
weekend in time for Monday’s trading. Some firms linked to the failing
banks may be rescued while others will have no option but to file for
bankruptcy. Lehman Brothers’ UK business Pricewaterhouscoopers has
been placed into administration.
Meanwhile, Pimco's Bill
Gross said overnight that a Lehman Brother's bankruptcy risks an "immediate
tsunami" because of the unwinding of
derivative and credit swap-related positions worldwide.
Talks to sell Lehman faltered Sunday, triggering
concerns that the investment bank may be heading into bankruptcy and
prompting banks to call an emergency trading session to unwind
positions with the firm.
"It appears that Lehman will file for bankruptcy
and the risk of an immediate tsunami is related to the unwind of
derivative and swap-related positions worldwide in the dealer, hedge
fund, and buyside universe," Gross, the chief investment officer of
Pacific Investment Management Co (Pimco), told Reuters.
In depth interview with economist John Williams. He states a 100
dollar bill will be worth less than toilet paper in 2 years. Get the
facts so you wont be left holding worthless Federal Reserve notes.
CNN Money: Williams Admits Great
Depression Coming - Mar 4 2008
Conservative economist
Bruce Bartlett accused President Bush of "bankrupting"
America and betraying the Reagan legacy in an interview on PBS's
Tavis Smiley Show on Tuesday.
THE
DESTRUCTION OF AMERICA BY DESIGN BY THE GREEK HELL'S ANGEL'S
CONTROLLED BY SATAN AND HIS SON
Former
World Bank Vice President, Chief Economist and Nobel Prize winner
Joseph Stiglitz has predicted a global economic crash within 24 months
unless the current downturn is successfully managed. Asked if the
situation was being properly handled Stiglitz emphatically responded
"no," and also drew ominous parallels to the development of the NAFTA
Superhighway and the North American Union.
Stiglitz caused controversy in October 2001 when he exposed rampant
corruption within the IMF and blew the whistle on their nefarious
methods of inducing
countries to fall under their debt before stripping them of
sovereignty and hollowing out their economies.
Speaking on the nationally
syndicated Alex Jones radio show, Stiglitz defined the process of
globalization as a system that was "rigged against the poor countries,
rigged for the advanced industrial countries - the result of that is
there were an awful lot of losers."
The Columbia University
Professor described how rampant privatization has crippled Mexico, in
particular citing the sell-off of major infrastructure such as roads.
"They sold the roads to the
private enterprise and the hope was that they would be more efficient
but of course what happens is that they didn't maintain the roads,
they couldn't generate enough revenue and they eventually had to
default and give the roads back to the government."
Stiglitz agreed that the
process of hijacking and looting key infrastructure on the part of the
IMF and World Bank, as an offshoot of predatory globalization, had now
moved from the third world to Europe, the United Sta
