If you were the guy in charge of a trillion dollar monopoly that affects the lives of almost every single person on the planet, and the natives were getting restless, wouldn’t you do a little PR to calm the nerves of the people most able to cancel your contract?
Even Peter Barnes notices that this visit by Bernanke has more of a feel of a political stop than anything else, and I cannot help but think that the globalists are telegraphing an accelerated timetable. (more…)
The ‘Occupy Wall Street’ movement has arrived in Kona, Hawaii complete with ‘tax the rich’ posters, and when asked by the demonstrators which side of the fight I was on, I had to reply that I have been a libertarian for decades and a Ron Paul supporter – neither nanny-state left nor corporate big government right. I understand what these folks are trying to accomplish, but I do see them as doing the Fed’s and Soros’ dirty work of taking out the competition without said elitists getting their hands dirty. Better to take the head of the beast off by abolishing the Federal Reserve System (and thereby the IRS) then to be a ‘useful idiot’ for the very people enslaving you.
Alex Jones interviews John Perkins, economist and author of ‘Confessions of a Economic Hitman’ and ‘The Secret History of the American Empire’.
What is an economic hitman, you ask?
My official title was chief economist at a major consulting firm in Boston, MA; this is back in the ’70’s. I was really an economic hitman. I arranged huge loans for countries that had resources corporations coveted to places like the World Bank and the private banking industry. Money never actually went to those countries because it went instead to our own corporations to build big infrastructure projects in those countries like power plants and industrial parks that benefited a few wealthy people in those countries, as well as our own corporations, but didn’t help the majority of the people too poor to buy electricity, couldn’t get jobs in industrial parks because they don’t hire many people, and yet they, the people of the country, were left holding a huge debt they couldn’t repay. So we go back at some point and say, “hey, since you can’t pay your debts, sell your oil to our oil companies real cheap or your mineral resources, whatever, open your markets to us. Let us build a military base on your soil. Vote with us on the next critical United Nations vote.” – John Perkins
Listen to the rest of the interview to hear about the few leaders that did not go along with the money masters and the jackals sent to take care of them, how the global economy is going to shake out, and the endgame of a global empire with the military being used to back the corporations’ moves. (more…)
Jesse Ventura’s ‘Conspiracy Theory’ takes on the theory that international bankers are draining American of all it’s wealth. This may sound completely farfetched until you listen to Catherine Austin Fitts on ‘The Looting Of America’. The truth about the financial pillaging by the ‘pirate class’ is finally getting out about the trillions that have been sucked out of our economy and our pockets. The banksters own the government; get used to the realization.
Keep this in mind; how many bankers have been arrested, prosecuted and convicted of the mortgage fraud scandal that caused the meltdown in the housing industry and near economic collapse of America? Why isn’t Bernanke being impeached for stating under oath in June 2009 that the Federal Reserve would not monetize the debt, and they just did it again? I know you folks can do the math.
I was blessed yesterday to catch an lengthy, exclusive interview with Catherine Austin Fitts (a former government insider) on the InfoWars.com MoneyBomb marathon where she spoke about the entire vampiric draining of wealth in America; the how, the why, and the outcome. I have been patiently waiting for it to be uploaded so that I can share it with my readers and the large number of new visitors searching for it. Rest assured, as soon as it becomes available, I will have it on the site. If you would like to hear an interview from 2004 about how ‘Treasury and FHA were involved in significant securities fraud’, go here.
An excerpt from the transcript of ‘America’s Black Budget and the Manipulation of Mortgage & Financial Markets’:
Anyway, let me fast forward. In 1995, when HUD produced the first audited financial statements, they were published, and a fellow came to see me, and he said, “Look, there’s been a terrible mistake. You don’t understand, my family’s been in business for many generations, and we’ve been tracking all the FHA mortgage insurance outstanding in the market since the FHA went into existence in 1934, and there’s a terrible mistake – the amount of outstanding FHA mortgage insurance in the markets is significantly more that is shown in these financial statements …
Now when the fellow came to see me, Jim I thought he was crazy because what he was saying was that the U.S. Treasury and the FHA were engaged in significant securities fraud. In other words, what he was saying was that there was a significant amount of FHA & Ginnie Mae (or FHA related) securities outstanding than was shown in the financial statements.
In the meantime, what follows is a four part interview with Alex Jones from 4.21.2010 outlining the NWO economics that are being used against the American public as the big banks grow larger, how the government enslaves us with more debt, how all of our wealth is being moved off-shore (remember the $9 Trillion that went missing from The Fed in May, 2009?), and how to break free starting with withdrawing your money from the big banks. She starts the explanation with the small group of families at the top that have massive pools of ‘inter-generational’ capital that are controlling everything (5:00).
The average American may think this is great news if they were really paying attention and had all the facts. An SEC charge against Goldman Sachs is more deflect and distract.
TurboTax Timmie (and some say Hank Paulson) was in China begging for cash. Reports of Bill Clinton secretly heading over to Japan for cash, Barack Obama bowing to the chinese a couple weeks after a secret trip to Afghanistan(and God knows where else), and then this little story from MarketTicker that you may have missed in the all the tea party bashing going on the last two weeks.
No, not just Greece – all of Europe. Without Congressional authorization or notice, of course.
Hattip to a nice emailer….
Or if you prefer it on a one-year time scale…
That nice little vertical line is a gain of $421.8 billion dollars of outstanding loans and leases in one week’s time.
WHERE THE HELL DID THAT MONEY GO AND WHAT COLLATERAL WAS TAKEN AGAINST A FOUR HUNDRED BILLION DOLLAR INCREASE IN OUTSTANDING LOANS?
You won’t find anything like that in the records – because it’s never happened before. That’s beyond unprecedented, it’s ridiculous, and assuming it’s also accurate, someone has some ‘splaining to do on what clearly appears to be some sort of back-door game being run.
Update: It has been suggested that this may be related to the FASB changes and securitized loans coming back on the balance sheet. If so, where’s the alleged memorandum items on the other side and the footnote on FRED? The latter is missing, but the necessary data on FRED to confirm that is not yet updated.
Nonetheless, if this is the case, it’s still bad (just not catastrophic) as this will directly hit capital ratios. Or, put another way, where’s the additional capital that “should” be there to support what is now on balance sheet and was previously off (never mind that it was crooked as hell to have it off in the first place!)
So next time you see something incredibly out of the ordinary (Goldman Sachs charged? AYFKM?), ask yourself, “what are they trying to hide?”
April 16, 2010 Goldman Didn’t See SEC Coming FBN’s Charlie Gasparino says sources inside Goldman Sachs say they didn’t see the SEC probe coming.
Watch the entire video because it will explain in detail the money trail and why so few mortgage modifications are being made. No wonder they would not allow the banking systems to collapse, there wouldn’t be any bad paper to make an outrageous profit off of.
FOR IMMEDIATE RELEASE March 19, 2009 Media Contact: David Barr Office: (202) 898-6992 Cell: (703) 622-4790 Email: email@example.com
The Federal Deposit Insurance Corporation (FDIC) has completed the sale of IndyMac Federal Bank FSB, Pasadena, California, to OneWest Bank, FSB, a newly formed Pasadena, California-based federal savings bank organized by IMB HoldCo LLC. OneWest will assume all deposits of IndyMac Federal. IMB HoldCo signed a letter of intent with the FDIC on December 31, 2008, to purchase IndyMac Federal.
The 33 branches of IndyMac Federal will reopen as branches of OneWest tomorrow. Depositors of IndyMac Federal will automatically become depositors of OneWest. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.
As of January 31, 2009, IndyMac Federal had total assets of $23.5 billion and total deposits of $6.4 billion. OneWest has agreed to purchase all deposits and approximately $20.7 billion in assets at a discount of $4.7 billion. The FDIC will retain the remaining assets for later disposition.
FDIC and OneWest have entered into a loss share transaction on the single family residential portfolio. Under terms of the loss share agreement, OneWest will continue the FDIC’s existing loan modification program.
Customers who have questions about the transaction can call the FDIC toll-free at 866-806-5919. The phone number will be operational this evening until 9:00 p.m. Pacific Time; on Saturday from 9:00 a.m. to 6:00 p.m. Pacific Time; on Sunday from noon until 6:00 p.m. Pacific Time; and thereafter from 9:00 a.m. to 5:00 p.m. Pacific Time. Interested parties can also visit the FDIC’s website at http://www.fdic.gov/bank/individual/failed/IndyMac.html.
IndyMac Federal sustained losses of $2.6 billion in the fourth quarter 2008 due to deterioration in the real estate market. The total estimated loss to the Deposit Insurance Fund is $10.7 billion. No further payments on receivership claims for uninsured funds from former IndyMac Bank, F.S.B. will be distributed as a result of this transaction.
Publication: Financial Deals Tracker Date: Friday, March 20 2009
The Federal Deposit Insurance Corporation (FDIC), an independent government agency, has sold IndyMac Federal Bank, FSB, a provider of banking and home lending services, to OneWest Bank, FSB, a newly formed federal savings bank organized by IMB HoldCo LLC, a thrift holding company controlled by IMB Management Holdings LP.
IMB HoldCo is owned by a consortium of private equity investors led by Steven T. Mnuchin, co-chief executive of private equity firm Dune Capital Management LP, and other investors in the consortium include J.C. Flowers & Co., LLC, Paulson & Co., MSD Capital, L.P., Stone Point Capital LLC, SSP Offshore LLC, a fund managed by Soros Fund Management LLC, and SILAR MCF-I LLC, a fund controlled by Silar Advisors, LP. All the entities are based in the US.As of January 31, 2009, IndyMac Federal Bank had total assets of $23,500 million and total deposits of $6,400 million. OneWest has agreed to purchase all deposits and approximately $20,700 million in assets at a discount of $4,700 million. The FDIC will retain the remaining assets for later disposition.Announcement (December 31, 2008):FDIC has entered into a letter of intent to sell IndyMac Federal Bank to IMB HoldCo.Following the completion, IMB HoldCo will capitalize IndyMac Federal Bank with approximately $1,300 million in cash. The transaction is expected to close in the first quarter of 2009.Rumor (December 28, 2008):According to Bloomberg, the New York Times reported that a consortium of private equity and hedge fund firms is in negotiations to acquire IndyMac Federal Bank.The consortium includes investment firms J.C. Flowers and Dune Capital Management LP, and the hedge fund manager Paulson & Co., Inc.The acquisition would include IndyMac’s 33 branches, reverse- mortgage unit and its $176,000 million loan-servicing portfolio.Barclays Capital, Inc. and Deutsche Bank Securities, Inc. are acting as financial advisors to the FDIC. Merrill Lynch & Co., Inc. is acting as financial advisor, while Weiner Brodsky Sidman Kider PC and Cleary Gottlieb Steen & Hamilton LLP are acting as legal advisors to the consortium. Sullivan & Cromwell LLP is acting as legal advisor to J.C. Flowers and SSP Offshore. Simpson Thacher & Bartlett LLP is acting as legal advisor to Stone Point Capital, MSD Capital, and J.C. Flowers. Fried, Frank, Harris, Shriver & Jacobson LLP is acting as legal advisor to Paulson & Co.
Deal Value (US$ Million)13900Deal TypePrivate EquitySub-CategoryInstitutional Buy-out (IBO)Deal StatusCompleted: 2009-03-19
Deal ParticipantsTarget (Company)IndyMac Federal Bank, FSB.Vendor (Company)Federal Deposit Insurance Corporation
Want to watch a couple of former Goldman Sachs executives squirm while they try to explain a cover-up? At 10am eastern, 1.27.2010, on C-Span 3, Timothy Geithner and Hank Paulson are going to be in House hearings about The NY Fed, AIG, Goldman Sachs, the SEC and ‘national security’. Click the C-Span 3 link to watch it streaming live on Wed.
For those that need a bit more information, Judge Napolitano speaks with Lew Rockwell about the ever growing mess that Geithner is finding himself in with thousands of emails that cover up just how Goldman Sachs was paid 100 cents on the dollar for AIG debt. (Among other items.)
AIG said in a draft of a regulatory filing that the insurer paid banks, which included Goldman Sachs Group Inc. and Societe Generale SA, 100 cents on the dollar for credit-default swaps they bought from the firm. The New York Fed crossed out the reference, according to the e-mails, and AIG excluded the language when the filing was made public on Dec. 24, 2008. The e-mails were obtained by Representative Darrell Issa, ranking member of the House Oversight and Government Reform Committee.
The New York Fed took over negotiations between AIG and the banks in November 2008 as losses on the swaps, which were contracts tied to subprime home loans, threatened to swamp the insurer weeks after its taxpayer-funded rescue. The regulator decided that Goldman Sachs and more than a dozen banks would be fully repaid for $62.1 billion of the swaps, prompting lawmakers to call the AIG rescue a “backdoor bailout” of financial firms.
“It appears that the New York Fed deliberately pressured AIG to restrict and delay the disclosure of important information,” said Issa, a California Republican. Taxpayers “deserve full and complete disclosure under our nation’s securities laws, not the withholding of politically inconvenient information.”
I am pretty much freakin’ speechless at the moment. Maybe Goldman has figured out that without small business, they are screwed, and after Blankein’s comment about doing God’s work, they are really screwed without the apology and cash on the barrel head. Now if there was someway to have Goldman and SEIU neutralize each other, I think we would be ahead of the game.
The $500m investment includes a $200m contribution to community colleges, universities and other institutions to give grants to small business owners to further their education.
It will funnel $300m through community development financial institutions to increase lending and technical assistance available to small businesses.
In addition, Goldman Sachs executives, in partnership with national and local business organizations, will aid small businesses with advice, technical assistance and professional networking opportunities.
An advisory council co-chaired by Mr Blankfein will oversee the initiative. Mr Buffett, Goldman’s largest shareholder, and Harvard Business School Professor Michael Porter will serve as co-chairs.
“Our recovery is dependent on hard working small business owners across America who will create the jobs that America needs,” Mr Buffett said in a statement. “I’m proud to be a part of this innovative program which provides greater access to know-how and capital — two ingredients critical to success.”