Senator Gregg On Financial Reform Bill And Social Justice

Senator Gregg was part of a panel on CNBC covering the newly passed senate financial reform bill. What follows is 4 minutes and 17 seconds that you will want to hear. Sen. Gregg covers the problems with this bill including Freddie and Fannie not being addressed, the creation of the Freddie and Fannie debacle by Congress, and the Bureau of Consumer Protection.

…and the failure to take on Freddie and Fannie is almost malfeasance of a criminal level by the Congress, I mean the fact that we would leave on the table, well it’s like having a room, not having an elephant in it, but having the entire herd in it and saying the herd doesn’t exist.

…because this is not about lending for the purposes of having strong credit and good credit going out, it’s about lending to accomplish social justice purpose. That’s what the consumer agency is all about. This is a massive expansion on the agenda of the left in the area of domestic industrial policy.


With Obama and Biden in charge of transforming the United Socialist States of America, is it surprising that Joe would say that Brussels should be considered the capital of the free world?  How embarrassing it is to have Gumby and GumbyJr. representing us?

“As you probably know, some American politicians and American journalists refer to Washington, DC as the “capital of the free world.” But it seems to me that in this great city, which boasts 1,000 years of history and which serves as the capital of Belgium, the home of the European Union, and the headquarters for NATO, this city has its own legitimate claim to that title.”

What about regular Americans believing that America has been the beacon of light? If it was not true, Islamic Jihadists would not be attacking, and our borders would not be overrun.

Fortunately for us, these two fools appear to have had parents that did not instill that one virtue of keeping some thoughts to oneself.  We always know what they are up to.


The Patriot Movement Is A Violent Threat To National Security

I’ve taken a lot of heat from the right when I start bashing the Patriot Act for being the single most dangerous Act to be passed by the cowardly congress when it comes to the inherent infringement on privacy, liberty, and the amount of control the government now has over everything you do.   Every time you see a camera at an intersection recording your face, your plate, and your car; think Patriot Act and the NWO globalists tracking, what they believe is, their property.

The argument is that we have to catch the terrorists at any cost, and that our national security agencies have to do whatever they deem necessary to accomplish that mission.  Poppycock!  The  slowly awakening but too trusting sheeples are going to have to make a choice soon between standing tall or kneeling as the shackles are put on.

If you are a blogger, citizen journalist, or a tea party patriot; pay attention because the Climate of Fear just got a bit thicker.

ABC News video–whistleblowers expose massive government violations of privacy

When the Conservative Examiner presented proof in a 7-part series that the Obama government is engaging in covert activities to rob citizens of their liberties, naysayers dismissed the information as ‘inconclusive,’ despite the reliability of the unnamed sources for that information.

However, ABC News interviewed a whistleblower who exposes a massive government intrusion into the privacy of all citizens by reading their emails and Instant Messages, listening to their phone calls, monitoring their movements on the Internet, and tracking the ‘Patriot movement’ as a ‘violent threat’ to national security, although no one in the Patriot movement has engaged in such violence.

Not only that, but the government is working with a corporation–AT&T–in order to accomplish this privacy violation:

Note that this secret program was exposed in 2008, while George W. Bush was President.

Thus, we know for a fact that the government has been doing exactly what was claimed in the Conservative Examiner series on Obama’s 4th Reich.  Only the faces have changed.  The program is the same and has in fact been kicked up into high gear under the Obama Administration.

In fact, People for Freedom reports that the Pentagon’s Cyber Command is currently preparing to wage war against American citizens who insist on liberty and the adherence to the U.S. Constitution. :

Early last week the Air Force assigned approximately 30,000 “digital troops” to “the front lines of cyber warfare,” a number that represents a third of the troops in Afghanistan. “The transformation is part of the service’s larger emphasis on cyberspace operations and merging most computer system operations and network warfare functions under Space Command’s 24th Air Force, based at Lackland Air Force Base, Texas,” reported the Air Force Times on May 19.

But the bombshell that was revealed in this latest expose of secret government operations directly impacts bloggers and citizen journalists who are not ‘authorized’ by government to report their propaganda:

According to investigative reporter Wayne Madsen, at least some members of the NSA want to deal with pesky bloggers in a more direct and deadly fashion. In August of 2008, Madsen reported that an executive level NSA staff person was on record saying that significant sentiment exists within the NSA to kill troublesome bloggers and journalists.

Added to this disturbing information is the fact that at West Point last week Barack Obama called for a ‘new international order:

These various factors add up to one big concerted attack on average American citizens by the present government and its enablers in the mega-corporate world.

The jackboot is on our throats.

(H/T PM)

Hedgefund Managers’ Purchase of Gold Rivals World Central Banks

Hedgefund Managers’ Purchase of Gold Rivals World Central Banks

Is it any wonder that average Americans are a bit confused by the mixed signals we are receiving from TPTB via their media lackeys?  Hedgefund managers are buying up gold at a rate that rivals world central banks, yet we are ‘in recovery’?  Add to this the fact that nobody seems to know what is happening in markets that are behaving erratically.  Could it be that there is more than two competing interests trying to manipulate the decline?

Gold Rising as Euro Weakens Spurs More Speculation (Update2)

May 24 (Bloomberg) — Speculators are buying gold faster than the world’s biggest producers can mine it as analysts forecast a 27 percent rally that may extend the longest run of annual gains since at least 1920.

Exchange-traded products backed by bullion added 41.7 metric tons in the week to May 14, the most in 14 months, data from UBS AG show. China, Australia and the 15 other largest mining nations averaged weekly output of 41.6 tons last year, researcher GFMS Ltd. estimates. Even though prices have fallen 5.1 percent to $1,185.30 from a record $1,249.40 an ounce May 14, the median in a Bloomberg survey of 23 traders, analysts and investors shows it will reach $1,500 by the end of the year.

Buying accelerated as the MSCI World Index of 23 developed nations’ stocks tumbled as much as 16 percent since mid-April and the euro weakened to a four-year low against the dollar. Holders of ETPs, including George Soros and John Paulson, accumulated a record 1,938 tons by May 21, eclipsing all but four of the biggest central-bank holdings. (emphasis mine)


“People are afraid of the debasement of all the currencies,” said Peter Schiff, president and chief global strategist for Darien, Connecticut-based Euro Pacific Capital, whose clients have more than $2 billion in assets. “What’s surprising is that gold is still as low as it is,” he said, predicting $5,000 to $10,000 an ounce in the next five to 10 years.

Since the last week of April, ETPs have been adding bullion at a pace not seen since the first quarter of 2009, in the wake of the collapse of Lehman Brothers Holdings Inc. Buying rose as European policymakers agreed on an almost $1 trillion emergency loan package to prevent sovereign defaults.


Central Banks

Muenze Oesterreich AG, the Vienna-based mint that makes the Philharmonic, the best-selling gold coin in Europe and Japan, on May 12 said it had sold 243,500 ounces since April 26, more than the 205,300 ounces sold in the entire first quarter.

Central banks and governments are also buying gold, adding 425.4 tons last year, for a combined 30,116.9 tons, the most since 1964 and the first expansion since 1988, data from the World Gold Council show. Official reserves of central banks and governments may expand by another 192 to 289 tons this year, according to CPM Group, a research and asset-management company in New York.


Billionaire John Paulson’s New York-based Paulson & Co. hedge fund is the SPDR gold trust’s biggest investor, with 31.5 million shares, or about 96 tons, a May 17 regulatory filing showed. Kyle Bass, the head of Dallas-based Hayman Advisors LP who made $500 million in 2007 on the U.S. subprime collapse, bought gold this month, according to a letter to clients.

Buying at the start of a bubble is “rational,” Soros said in January. His New York-based Soros Fund Management LLC was the sixth-biggest investor in the SPDR fund in the first quarter, a May 17 filing with the Securities and Exchange Commission shows. He trimmed his holding by 9.6 percent from the previous quarter.

The Hunt For Proof Continues (With A Twist)(UPDATED: Obama-Geithner Man-Crush)

People know, people know. The hunt for proof of Obama’s Constitutional ineligibility to hold the Office of the President has been going on for years.

Nine people who worked for a Department of Education contractor in Iowa are to be arraigned for accessing Bambi’s school loan records “while he was either a candidate for president, president-elect or president.” That’s an interesting turn of phrase covering a rather long time frame. According to the AP story, the authorities aren’t giving up any information as to why they were breaking numerous federal laws, or whether they used the information.

The convenient timing of the release of this information does make one think that the rumors that the Obamas are purposefully hinting at Barry being born in Kenya in order to lay the groundwork for an announcement appear more valid.

What you won’t be hearing any whispers about is the situation that many of us realized way back in 2007, but was and is being kept under a newsy-news blackout. The boys over at Hillbuzz have the story of an American journalist digging around the Vera Baker and Kal Penn stories.  I just keep thinking about Donald Young, the murdered Trinity United choir director.

Someone in the national media is FINALLY interested in Man’s Country in Andersonville

But, this time it was a US reporter who wanted information on Man’s Country in Andersonville, which is a place both Obama and Rahm Emanuel frequented in the past.  Obama until 2002 or so, and Emanuel through 2008, according to what we’ve been told.  We spent a good amount of time on the ground in Uptown, Boystown, Andersonville, and Hyde Park yesterday with this reporter, also telling him everything we knew about Trinity United Church of Christ and the Down-Low Club it operated under Jeremiah Wright’s supervision/matchmaking.

What prompted this sudden interest in stories we’ve been hearing since 2004, when Obama first came onto the national scene, is the fact that at least one national journalist also thinks it’s odd — as we have been repeatedly saying — that The Enquirer, The Globe, and other papers have been so wildly gung-ho about reporting on old Vera Baker affair rumors pertaining to Obama…and how all of this comes on the heels of Kal Penn’s sudden and abrupt expulsion from the White House.

Something is definitely fishy.

(H/T NJ)


They obviously want you folks to know about it or David Axelrod would not have said it and John Heilemann of New York Magazine would not have printed it.

Obama And Geithner Have A ‘Man-Crush’ On Each Other: New York Magazine

Embattled Treasury Secretary Tim Geithner looms large in John Heilemann’s New York magazine piece detailing the Obama administration’s increasingly strained relationship with Wall Street. And if his reporting is any indication, the president and the Treasury Secretary still have an ongoing “man-crush” on each other.

Since he took over in early 2009, Geithner has been seen by many as an embodiment of the Wall Street establishment. Heilemann notes that he’s been accused of working for Goldman Sachs — even by members of the mainstream press. (Geithner, a regulator by trade, has never worked for any Wall Street bank.)

Geithner emerged as a candidate for Treasury Secretary after former Fed chairman Paul Volcker, then 81, was ruled out and Larry Summers, the former president of Harvard, was deemed too politically divisive, Heilemann reports. After taking the helm at Treasury, Geithner quickly became Obama’s confidant through a combination of his moderate political leanings and a hesitancy to enforce sweeping, broad changes to the financial system. Here’s Heilemann:

Indeed, the president’s support for his Treasury secretary has been unwavering. (Axelrod would laugh at rumors that Geithner was about to get the boot: “Don’t these people realize they have a man-crush on each other?”) And Obama’s loyalty has been repaid with results. Geithner’s stabilization plan is now widely regarded as having worked — mainly thanks to the once-derided “stress tests” that he imposed on the banks, which showed the world that their circumstances weren’t as dire as many feared and let them raise the requisite capital to get back on their feet.

If Geithner is Obama’s trusted ear on all matters economic, it may be because Geithner seems to share an overriding belief that the financial industry — the nation’s largest banks in particular — needed only a certain amount of added regulatory scrutiny. The Obama administration’s chosen method to rescue the economy, Heilemann suggests, was to harness the expertise of a well-connected, but centrist financial mandarin like Geithner.

The European Monetary Situation

EVERYBODY PAY ATTENTION TO IRAN AND NORTH KOREA; nothing to see here, move along.

One false move in Europe could set off global chain reaction

If the trouble starts — and it remains an “if” — the trigger may well be obscure to the concerns of most Americans: a missed budget projection by the Spanish government, the failure of Greece to hit a deficit-reduction target, a drop in Ireland’s economic output.

But the knife-edge psychology currently governing global markets has put the future of the U.S. economic recovery in the hands of politicians in an assortment of European capitals. If one or more fail to make the expected progress on cutting budgets, restructuring economies or boosting growth, it could drain confidence in a broad and unsettling way. Credit markets worldwide could lock up and throw the global economy back into recession.

Anybody think any of these government officials can walk this tightrope without a misstep?

Bank of Spain seizes control of savings bank CajaSur

By MarketWatch

TEL AVIV (MarketWatch) – The Bank of Spain on Saturday took control of and appointed an administrator for CajaSur, a savings bank that was hurt by bad property loans, media reports say.

Based in the southern city of Cordoba, CajaSur has $16.36 billion of loans outstanding and holds $23.9 billion, or 0.6%, of the assets within Spain’s financial system, the reports say.

CajaSur on Friday determined not to go ahead with a plan reached in August to merge with a bigger lender, Unicaja of Malaga. The failure of that plan prompted the authorities to take over CajaSur, reports say.

For 2009, CajaSur posted a net loss of 596 million euros ($750 million). Bank of Spain officials estimate that restoring the bank to solvency will require about 500 million euros of fresh capital, reports say.

CajaSur, which had been controlled by the Roman Catholic Church, was the second Spanish bank failure in a bit more than a year, reports say. In March 2009, the Spanish central bank seized control of Caja Castilla-La Mancha.

The seizure of CajaSur comes against the background of international concern about Spain’s creditworthiness. This month, the European Union put in place a financial backstop against the prospect that Spain and other countries could default on their debt.

You know it’s bad when the longest running continuous government in the world (The Vatican) takes a hit like this.

Euro Declines Against Dollar as Spain Takes Over Lender

May 24 (Bloomberg) — The euro dropped the most versus the dollar in four days after the Bank of Spain took over a failing regional lender.

The pound rose versus the euro as the U.K. announced $9 billion in spending cuts to contain the budget deficit. Yuan forwards rose the most in four days as President Hu Jintao said China will move gradually and independently in making changes to its exchange-rate mechanism. The euro fell against all of its most-traded counterparts as investors sold the currency to fund trades in higher-yielding currencies.

“We are headed for a softer patch of growth, which is hurting the euro today, and is unfavorable for risk assets going forward,” said Lee Hardman, a currency strategist at Bank of Tokyo Mitsubishi UFJ in London. “Risk currencies, such as the Australian dollar, are overvalued.”

The euro fell 1.5 percent to $1.2384 at 6.41 a.m. in New York, from $1.2570 on May 21. It touched $1.2144 on May 19, the lowest level since April 17, 2006. Japan’s yen strengthened 1.3 percent to 111.48 per euro and was little changed at 90.05 per dollar.

The 16-nation euro dropped toward a four-year low against the dollar after the Bank of Spain said on May 22 it appointed a provisional administrator to run CajaSur, a savings bank crippled by property-loan defaults. The lender, based in the city of Cordoba, Spain, and controlled by the Roman Catholic Church, will be run by the government’s bank restructuring fund, the regulator said.

Nouriel Roubini said the bubble would burst and it did. So what next?

Just three years earlier, Roubini had been the object of derision in the economics community as he prophesied a US housing market crash, financial crisis and partial collapse of the banking sector. Today, as an adviser to governments and central bankers and much feted in the media, he’s well aware of the power of being right.

“In my line of business your reputation is based on being right,” he says. “The publicity is just noise. Certainly with a global crisis, the dismal scientists are having some prominence, even if most of the economics profession actually failed to predict it.”


As eurozone leaders panic and markets continue to dive, Roubini believes Greece will prove to be just the first of a series of countries standing on the brink.

“We have to start to worry about the solvency of governments. What is happening today in Greece is the tip of the iceberg of rising sovereign debt problems in the eurozone, in the UK, in Japan and in the US. This… is going to be the next issue in the global financial crisis.”

It already is. And Roubini claims to have foreseen it as far back as 2006.

“I was writing about the PIGS [Portugal, Italy, Greece and Spain] six to nine months before everyone else, I was worried about the future of the monetary union back in 2006,” he says. “At the World Economic Forum I outraged a policy official by suggesting the monetary union might break up.”

We are so proverbially screwed, and what do we have in Washington? The District of Criminals.

Alex Jones On Global Tyranny, Abortion, ICE Giving Jobs To Illegals, and Pirates…

Alex was on a roll yesterday with tidbits of information that you are not going to hear anywhere else; including the smearing of Rand Paul, Dr. Paul’s stance on abortion, Margaret Sanger’s eugenics, ICE giving jobs and green cards to illegals, illegals building border fences, and the fiasco with Iran and North Korea.

Part 6:

Margaret Sanger: The Pivot Of Civilization 1922

Part 7:

Border Fence Firm Snared for Hiring Illegal Workers

EXCLUSIVE: ICE Gives Work Permits to 27 Illegal Aliens in Seattle Raid; ICE Cancels Customs Freight Inspection b/c They “Might Find Illegal Aliens”; Head Agent: “Don’t Tell Debbie Schlussel”

Ahoy, gringos! Border lake terrorized by Mexican pirates

Part 8:

Bad Behavior has blocked 1607 access attempts in the last 7 days.

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