ΩΩMy son was reminiscing last night at dinner, the 1999 Seattle event which was the first US riot against ‘globalisation‘. He was working in the center of the city and got tangled up in the riots trying to get to and from his job. Seattle’s WTO riots were loud – and ineffective mostly because the left is very divided on this issue due to a long, long history going back to Marx about ‘the International’. Ever since Seattle, the W20 leaders had to hold their conspiratorial meetings in remote places or where there is severe police state suppression. Meanwhile, they boast that their policies are popular and helping the greater mass of humanity.
.
ΩΩOf course, if this were true, the meetings of these desperate rulers would be quite popular and people would cheer instead of scream! There would be, by definition, no riots at all. The riots in 1999 were portrayed by our media which is nearly 100% pro-’free trade’, as the lunatic fringe acting up and scaring everyone. But back then, the dire downside of free trade was barely showing thanks to easy credit handed out to Americans like candy on Halloween.
.
ΩΩNow that we have lost many, many millions of jobs and some of our biggest cities lie literally in ruins, the limited support for free trade has vanished. But this doesn’t seem to be getting through to the leaders here because of the media which has utterly disconnected our discontent from being aired in public and riots no longer happen here simply because none of our leaders dare to have any G20 meetings here or to go around talking about free trade, either!
.
ΩΩInstead, they talk about how we will grow our exports to the point that all Americans will have jobs making stuff for the Chinese or Vietnamese or Indians or Germans or…whoever. This silly plan has totally backfired for 35 years yet our media won’t say this. Instead, anyone who explains how our trade deficit is, along side our military overspending and over-expansion overseas, the root cause of our economic malaise here at home is mocked as being insane or stupid. The media and political chorus for free trade is coupled with naked fear: it s now too obvious that free trade has destroyed our economy and now the political and media elites who go to secret Bilderberg meetings overseas to plot all of this, are running scared.
.
ΩΩObama is like Captain Ahab sailing our leaky ship, the Pequod around the world seeking Moby Dick: Obama Seeks Rebound at APEC Forum in Yokohama – NYTimes.com
- President Obama, looking to wrap up his sometimes rocky economic tour of Asia on a high note, said Saturday that he made “no apologies for doing whatever I can” to bring jobs to the United States. And he vowed to pursue trade partnerships and American investment in the region so that he could put the United States back on a path of “discovering, creating and building the products that are sold all over the world.”
.
ΩΩIt should be painfully obvious to even idiots like Obama that Asia isn’t as stupid as the US. They know that power and wealth comes from running trade surpluses and they fight with each other day and night to grab even a tiny advantage with each other and the last thing they will ever do is to allow the US to have any advantages at all. We are the cash cow for them and they intend to milk us. If we fight off this, they will try to make hamburger of us. There is nothing friendly in all of this.
.
ΩΩThis is a dog-eat-dog world and we better cease being a cow and become a dog and the best way for us to fight this isn’t to go over there and try to pry our money out of their hot little hands but to stay home and lock the front and back doors and force them to do business our way, not their way.
.
ΩΩThis means no more super rich Americans investing in Asia. They must invest at home again! Duh. Our super rich invest more overseas than at home at this point! So why is Bilderberg Obama, CFR Obama seeking to increase US investments in Asia? Talk about nuts!
ΩΩ
….And while he told reporters before leaving Washington that his relationship with the American people had gotten “rockier and tougher” over time, he said in Seoul that his relations with foreign leaders had actually grown stronger since he took office.
.
ΩΩYeah! We may end up hating him but foreign rulers and leaders who are reaming us out in trade love this guy! Well, like all our previous Presidents who ran off to aliens to get their bribes (most famously, Reagan and Bill Clinton got to be millionaires this way!) Obama didn’t come into office rich but he knows from the above examples that if he is a good little lad, our dire trade rivals will richly reward him. I will note that to this day, the Republicans adore the traitor, Reagan and the Democrats often adore their own traitor, Bill C. This goes to show that the US public cannot connect the bribing of our own ‘leaders’ with the horrors of free trade and our looming bankruptcy.
ΩΩ
“When I first came into office, people might have been interested in more photo ops because there had been a lot of hoopla surrounding my election,” Mr. Obama said, adding that he now had a “genuine friendship” with a raft of world leaders. Still, he said, “That doesn’t mean there aren’t going to be differences.”
.
.
- Our trade deficit in manufactured goods was about $4.3 trillion during the last decade, and the country lost some 5.6 million manufacturing jobs….Indeed, the value of foreign investments in the United States now exceeds the value of American investments abroad by $2.74 trillion, and China alone has roughly $2.5 trillion in foreign currency reserves, primarily dollars.
- DESPITE his failure to conclude a trade deal with South Korea this week, President Obama has put free trade at the top of his agenda. That’s in part because the White House and the newly empowered Republican leadership see it as one of the few places where they can work together.
.
ΩΩThese traitors know who is boss: the entities that literally own our debts, our property and our political system via bribes. There are many ways to bribe someone and the best of all is to have them retire and then work for the very same foreign powers that pay campaign donations and who hire these same traitors to openly lobby for foreign interests. It is no surprise to see Obama and the GOP hand out the recent deficit commission report that is totally mute about foreign trade but wishes to fix our finances by wiping out all social services, remove the mortgage deduction, beggar doctors and in general, turn us back into poor peasants. While cutting corporate taxes and not taxing foreign profits, etc.
.
ΩΩNamely, Obama and the GOP are cooperating on this massive project, the looting of the American people. What if we elected Hilary Clinton? Would she do this too?
.
ΩΩThe answer is obvious: of course! There was no Ross Perot running for President and Ron Paul gave up without a fight. And virtually no one is allowed to utter the words, ‘Tariffs and barriers’ in public. We are continued to be told that tariffs and barriers, not a huge credit bubble, caused the Great Depression.
- But those expectations could be upset by an unexpected force: the Tea Party. Strangely, for a movement named after an 18th-century protest against import levies, Tea Partyers are largely skeptical about free trade’s benefits — according to a recent poll by NBC and The Wall Street Journal, 61 percent of Tea Party sympathizers believe it has hurt the United States….
.
ΩΩ
- ….Among Republicans, not one major elected figure expresses the skepticism toward free trade held by over three-fifths of Tea Partyers. In the face of soaring trade deficits and talk of American decline, the Tea Party may ask whether this is yet another area where the establishment has simply gotten it wrong.
- In short, the apparent contradiction between the Tea Party’s fiscal conservatism and its skepticism about free trade may not be a contradiction at all. If the Tea Party continues to influence the Republican agenda, it may not only spell bad news for the South Korea free trade agreement — it could also mean a fundamental reorientation of our country’s attitude toward trade and globalization.
.
.
ΩΩI find it nearly totally laughable imagining that ZIRP USA will nearly double our GDP. Double our national debt, yes. Double our GDP, not even slightly a chance of this happening. I do see the ‘trillions of dollars’ thing growing but this is due entirely to Quantitative Easing erasing the value of the dollar, not our economy growing. Actually, an accurate scale would be, China’s growth=US debt so our GDP is growing mainly from all the other nations on this graph exporting to the US. The reason the creators of this graph show us growing from $10 trillion to $18 trillion is due to an assumption that the US will be allowed to continue to consume the goods flowing out of Brazil, India, France, Germany, Japan and China!
.
ΩΩHere is the scarier rate of growth graph. Note that when China was one tenth of the US economy in 2000 when Bush was installed by the Supreme Court and cut taxes, the graph assumes in 2015, China’s GDP will be 60% of the US GDP. Note how this graph assumes China’s growth rate will be even higher than the 2000 rate at a sizzling rate of nearly 10% per year whereas the US rate will be much, much lower. Worse, most of our growth will be in consuming foreign goods including OPEC oil.
ΩΩIn Professor Kennedy’s prescient book, ‘The Rise and Fall of the Great Powers‘ he discusses how power is based mainly, since the Industrial Revolution, on the industrial base of production and the RATE of growth is of highest importance. Empires that ran their systems based on debt always declined even as they win individual battles or spats or won diplomatic struggles if their industrial base was ravaged by imports while the tax burden grew ever greater.
.
ΩΩEven if the taxes were based on very cheap credit, the gross overall size of these future obligations meant the ability to raise taxes during inevitable wars would vanish and the empire would then have to go outwards to seek funds from foreign powers and thus, lose sovereignty. And the US is following exactly this track and is going bankrupt just like all previous empires. That is, we learned absolutely nothing from a very obvious history that is easy to grasp.
.
ΩΩBack to the G20 meetings which can’t be held here in the US: G20 pledge to avoid currency war gets lukewarm reception
- The G20 summit concluded this morning after failing to tackle growing concerns that currency wars between Washington and Beijing will undermine hard-won stability in the global economy….In the final statement of the summit, the group’s fifth since the financial crisis plunged the world into recession in 2008, the leaders vowed to move towards market-determined exchange rates and shun competitive devaluations.
- In a departure from earlier statements, the G20 said it would allow emerging market countries with “adequate reserves and increasingly overvalued flexible exchange rates” to use “carefully designed macro-prudential measures”….”This hasn’t been a love-fest,” an official who participated in the negotiations said.
.
ΩΩIn other words, the Japanese system of holding huge reserves in their FOREX accounts will continue unabated. The ‘carefully designed macro-prudential measures’ seems to be a new fancy way of saying, ‘Quantitative Easing’. Which is the least prudent thing on earth, of course. It is totally reckless. It is playing with one of the most dangerous of the Cave of Wealth and Death’s goddesses: Inflation. She is a total terror because unlike her sister, Depression, Infinity kills money. Depression doesn’t kill money, it makes money more valuable. But people dislike this because it means no easy loans and rising profits. So they want Inflation instead only she is a hungry beast and easily runs out of control due to a simple human trait: greed.
.
ΩΩOnce the greedy little banking gnomes realize they can simply print money and keep most of it, they do this. To infinity. They can’t stop! This is why we had a gold standard: to prevent paper money from running suddenly to infinity. Without exception, EVERY government that runs a purely paper money system lurches into destruction due to this temptation to simply print up endless amounts of cash. I will note that many Americans are prey to this sort of delusional thinking that we can have a paper money system and no inflation. This is humanly impossible. We can’t help it: easy money creation always leads to reckless money creation and thus, the death of the currency. Always.
.
ΩΩA very, very interesting and dangerous thing has happened in the diplomatic realm during this latest G20 meeting. Germany found itself entirely and totally on the side of China, Russia. This is a very significant change and it has been in the making for quite a while. I mentioned this movement in the past and predicted that Germany would turn from the West and look to the more active East and now this is out in the open: The World from Berlin: ‘G-20 Solidarity Is Crumbling’ – SPIEGEL ONLINE – News – International
The left-leaning Berliner Zeitung writes:
- “Currency wars, trade barriers and capital controls are leading to fears of a repeat of the 1930s, when national egotism ruined the world economy. The solidarity (of the G-20 countries) is crumbling. Some have even written off the G-20 because of growing tension in the group. But it’s too early for that.”
The center-left Süddeutsche Zeitung writes:
- “German exporters are not to blame for the US trade and budget deficits — but they have profited from them. In this regard, the latest triumphs of the German economy are in part borrowed successes. An export surplus of 6 percent of gross domestic product, such as achieved by Germany in 2010, is not sustainable. The debts of one are the assets of another. The G-20 had essentially set itself the task of dismantling these global imbalances, but it hasn’t accomplished this.”
The center-right Frankfurter Allgemeine Zeitung writes:
- “Washington may have insisted that it is interested in a strong dollar but even its closest partners don’t really trust these words.”
.
ΩΩ
The Financial Times Deutschland writes:
- “Once it would have been a scandal. No German chancellor would have allied with China, particularly against the US, prior to an important summit without provoking an outcry from the trans-Atlantic lobby. They would have warned about a break with Germany’s most important ally. Merkel is acting as always: pragmatically. In order to deflect international annoyance over the German trade surplus, she has chimed in with growing criticism of the American money printing machine. Although tactically canny, the chancellor will have to watch out that she doesn’t get on the wrong track.”
The left-leaning Die Tageszeitung writes:
- “(Protectionism) doesn’t look like it used to, when nations used to place a cap on foreign imports with high tariffs. Today governments are trying to leverage their own industrial competitive advantages in another way. They are keeping their currencies, and therefore the prices of their exports, low. Or they ensure unbeatably low prices with the help of low labor costs. The latter is the German way. Since Chancellor Gerhard Schröder, a low wage sector has been consciously nurtured. Temporary work, short-term contracts and the threat of the rapid descent into Hartz IV unemployment benefits have contributed to every demand for higher wages being nipped in the bud. The consequence has been that real wages — that which remains after inflation has been taken into account — have shrunk year on year. That was just fine by the business sector. While wages and prices rose abroad, German companies were able to throw their goods to the market at dumping prices. The Chinese government has followed the same strategy — with the difference that they have kept export prices low not by low wages but by currency dumping. It’s a subtle difference for the German government: The message is that the German surplus is good because it is based on a competitive advantage whereas the Chinese surplus not good because it has been achieved through unfair means.”
.
ΩΩAt least the German media has a very realistic discussion of the meaning of free trade, the effects and the truth about the divisions in the G20 system which obviously has the deficit raddled US and UK on one side and all the much smarter nations on the exact opposite side wanting to keep the status quo and fearful that it will collapse.
.
ΩΩOne warning here: China intends to have it eventually collapse. They know the US is a black hole and will implode and the only question is, how strong will China be when this happens? China feels they are not quite ready for this yet and this is why they continue to let things go for the time being even though they can already bankrupt us by suddenly disgorging $2.5 trillion in FOREX dollars and slam US bond markets by suddenly selling off their US debt holdings.
.
ΩΩThe key thing here is, EVERY world leader knows this! Every last one of them. They are all hoping the US public won’t know this until it is too late. I have been yelling myself hoarse about this since Reagan’s day and obviously, we fell into the trap. Way back when Reagan was President, I told the State Department and the CIA that the Chinese have figured out capitalism and they have this funky 50 Year Plan and I told them the details of this plan and…was brushed aside as a lunatic even though the State Department asked me to host the Chinese leaders and teach them about the glories of capitalism in the first place!!!
.
ΩΩMeanwhile, the very smart leader who is not a traitor to his people used the G20 meetings to cement relations with a most interesting neighbor, Russia: Xinhua Chinese, Russian presidents meet in Seoul on cooperation
- Medvedev agreed with Hu’s positions, saying that the BRIC countries (Brazil, Russia, India and China) have made important contributions to reform of the international monetary system. He said Russia is ready to cooperate closely with China within the frameworks of BRIC and G20 and continue to advance reform of the international monetary system and strengthening international financial supervision.
- Hu said China is ready to work with Russia to nudge the G20 Seoul summit to reinforce the momentum in the world economy’s recovery, advance reform of the international financial system, push for the resolution of unbalanced growth in the South and North and work for comprehensive and balanced results of the Doha round of talks. The presidents agreed to strengthen bilateral cooperation in the regional and international organizations of the Asia-Pacific Economic Cooperation (APEC) forum, the Shanghai Cooperation Organization (SCO) and BRIC countries.
.
ΩΩThe US loves to pretend we lead the world. But note how the rest of the world is reorganizing itself along new economic relations positions. The US is viewed as a dead buffalo being eaten by scavengers. Instead of viewed as the model to copy, we are viewed as the thing to avoid copying! This is very significant and has been the case since Reagan sold his soul to the Japanese for $2.5 million.
.
ΩΩPreening ourselves as the ideal the world wishes to emulate continues even as we are viewed more and more as an out of control military giant floundering about in Muslim countries, bleeding to death a la Soviet Union. Our famed civil rights are gone, replaced by torture, abuse, theft and using assassins a la Israel. Indeed, the only country that emulates us is Israel. And the Jews there and here at home are using this as a tool to loot the country which is why the deficit commission wants to cut foreign aid but the AIPAC people are right now scheming with Congress to move all the money flowing to Israel from the foreign aid section to our DOMESTIC BUDGET section!
.
ΩΩYikes! Fortunately, the Chinese haven’t copied Israel in this matter. But the Japanese wish they could do this. Too late for them. Though I wouldn’t put it past them to try to do this. No, we will cut aid to Haiti and Africa instead. Chinese president meets leaders on sidelines of G20 summit
- Welcoming President Hu, South Korean President Lee Myung-bak said he believed China would play an important role in promoting international economic cooperation within the G-20 framework….
- Hu stressed that China and South Korea are important neighbors and partners and that China is willing to work with South Korea to advance the bilateral strategic partnership into a comprehensive one. Hu said China has always supported the improvement of relations between the Democratic People’s Republic of Korea and South Korea. “China is willing to play a constructive role in this regard,” he said.
.
ΩΩChina has been kissing up to South Korea a lot and has been interested in being the power broker between North and South Korea. The US has been basically pushed aside in this matter. South Korea still uses our military as its cat’s paw in all of this. The Japanese would dearly love to have Korea on their own side against China but won’t pay WWII reparations to Korea and there is still lots of bad blood between them because of this.
.
ΩΩMeanwhile, in dying Europe: Britain calls for calm over Ireland bail-out – World Politics, World – The Independent
There had been concern in the markets over German moves to force private investors to bear a share of the burden in future bail-outs of countries in fiscal crisis.
.
.
ΩΩHere is the NYT talking about how we are supposed to eat cake while starving to death: Taking Aim at the Mortgage Tax Break
- A presidential commission’s proposal to end the mortgage tax break, a very sacred cow, seeks to emphasize the deficit’s severity to the middle class.
.
ΩΩNow, the GOP has run exclusively on tax cuts. This is the Reagan machine! The vast bulk of tax cuts, thanks to Bush Jr, accrue on the upper 1% of tax payers who are the very, very rich. Their wealth has exploded since Bush did this and they intend to move heaven and earth to keep their tax cuts. So Obama has retreated on removing the disastrous Bush tax cuts and instead, the bulk of the tax burden will slam down on the middle middle class.
.
ΩΩOf course, the middle class has lived in La La Land because the overspending has been shipped to China and other trade rivals. Interest rates fell even as we took on oodles of debt and debased the dollar. And now our Fed is trying very hard to debase the dollar…FOR FREE TRADE! Instead of imposing tariffs and enriching the government, the Fed is beggaring savers here by ruining our money. All in the hopes of selling stuff to the Chinese who don’t want to buy our stuff any more than the Japanese want to buy our stuff.
.
ΩΩI hope the deficit commission does wake up the middle class. SOMEONE HAS TO BE TAXED! There is no escaping this reality. The only question is, who? My answer is very simple: tax imports and tax profits flowing out of our country. Will we wait passively until 100% of the profits from our economy flow overseas before doing this? How insane is that! It is already a very dire 50%!
.
ΩΩSo, we will pay taxes on our mortgage debts and lose our homes to the banks and look at our model, the country we are emulating in all ways (that is, falling into debt while futilely trying to run a global empire): A third of Britain STILL belongs to the aristocracy | Mail Online
- Their assets account for 20million out of Britain’s 60million acres of land, and the researchers estimate that the vast majority is actually owned by a wealthy core of just 1,200 aristocrats and their relatives.
- Well off: The Duke of Westminster has a property portfolio totalling around £6billion
- The top ten individual biggest owners control a staggering total of more than a million acres between them…. The top private landowner, not just in Britain but Europe, is the Duke of Buccleuch and Queensbury, whose four sumptuous estates cover 240,000 acres in England and Scotland. …Yet all are dwarfed by the incredible reach of corporate land-ownership, which barely existed 100 years ago.
.
ΩΩAnd this is our Buccleuchian fate! We never really had a revolution as far as land is concerned. The slave estates flourished after the Revolution. The land was redistributed by stealing it from the natives. Now, it is being removed entirely from our own hands and we will end up like England. In more ways than one. England, after all, also has not had a real revolution where heads literally roll.
.
ΩΩAnd our attempt at imposing a UK/US ‘democracy’ on Iraq has collapsed in a flurry of bomb attacks and a sharp rise in ethnic/religious warfare: A day after Iraq’s political breakthrough, bloc bolts parliament. We are being drained dry by Iraq and Afghanistan just as Bin Laden planned and our CIA who thought they were very clever in manipulating bin Laden are now being hoist by their own foolish petard (this is an old phrase dating back to the dawn of modern warfare when bombs were made that would explode at a gate of a castle but these often blew up on the soldiers placing the bombs at the gates, thus, ‘hoisting’ them into the air in many pieces).
Email:
emeinel@fairpoint.net
MAILING ADDRESS:
EMS NEWS
P.O. BOX 483
BERLIN, NY 12022
Make checks out to ‘Elaine Supkis’
Click on the Pegasus icon on the right sidebar to donate via Paypal.
bribe someone and the best of all is to have them retire and then work for the very same foreign powers that pay campaign donations and who hire these same traitors to openly lobby for foreign interests
.
and what is up with the tea party… i seem to read plenty and there aint no movment man… tea party of obama hussien democratah… booooooo tea party booooooooo we voted for change AND I STILL DONT KNOW WHAT IT IS…. bush republicanium georgio booooo tea party… how can i not get it
.
we should lower taxes so the Tea party HAS to cut government or raise tariffs… they are a bunch of lazy unfocused morons… for all i know they all just sit around, drink tea and want to raise taxes on the commodity to buy more lawyers and bankers via the FED debasing the Dollar
.
REVOLUTION
.
http://video.google.com/videoplay?docid=-181259944046452879&q=iluminati&total=111&start=0&num=10&so=0&type=search&plindex=4
.
why do i need a carbon copy
V2 right
.
if the government sux at their jobs…. we could save a little money forcing them into early retirement to avoid pensions so they can stay home and raise their children… who cares what a house costs
.
get the parasitic moron away from the bottom line
Elain I believe, that a Global Sovereign, Seignior And Currency … will rise to rule mankind
The United States Federal Government has two white washed tombs of debt. The First, is the Toxic Debt, which trades like the mutual fund FAGIX, and the Mortgaged-Backed Securities, MBB, which it took in under QE 1; and, The Second, is the Excess Reserves, that is the formerly money good, traded out under TARP, for the toxic debt and mortgage-backed bonds, which now sits deteriorating at the Federal Reserve.
You relate: “In Professor Kennedy’s prescient book, ‘The Rise and Fall of the Great Powers‘ he discusses how power is based mainly, since the Industrial Revolution, on the industrial base of production and the RATE of growth is of highest importance. Empires that ran their systems based on debt always declined even as they win individual battles or spats or won diplomatic struggles if their industrial base was ravaged by imports while the tax burden grew ever greater. Even if the taxes were based on very cheap credit, the gross overall size of these future obligations meant the ability to raise taxes during inevitable wars would vanish and the empire would then have to go outwards to seek funds from foreign powers and thus, lose sovereignty. And the US is following exactly this track and is going bankrupt just like all previous empires. That is, we learned absolutely nothing from a very obvious history that is easy to grasp.
And you write, once the greedy little banking gnomes realize they can simply print money and keep most of it, they do this. To infinity. They can’t stop! This is why we had a gold standard: to prevent paper money from running suddenly to infinity. Without exception, EVERY government that runs a purely paper money system lurches into destruction due to this temptation to simply print up endless amounts of cash. I will note that many Americans are prey to this sort of delusional thinking that we can have a paper money system and no inflation. This is humanly impossible. We can’t help it: easy money creation always leads to reckless money creation and thus, the death of the currency. Always.”
I relate that history shows that monetization of debt creates an investment demand for gold. That is why I am invested in gold bullion. And why I encourage others to be invested in gold bullion as well.
Over the last 90 days, the value of gold in terms of the Euro, FXE, the Yen, FXY, the Brazilian Real, BZF, and the Australian Dollar, FXA, has increased in value as is seen in the chart of the ETFs, GLD, FXE, FXY, BZF, and FXA.
I expect gold to growing in value relative to the world’s major currencies, DBV, currencies, and emerging market currencies, CEW, even though its nominal value may fall, as bond vigilantes call interest rates ever higher, taking all debt, that is, the world government debt, BWX, international corporate bonds, PICB, and all debt, AGG, lower.
There will come a point in time when, the debt that cannot be taken down by the bond vigilantes and currency traders through debt deflation, must be applied to every man, woman and child in the world. At that time, or probably even sooner, I believe that bible propheyc of Revelation Chapter 13, foretells that a Global Seignior and Global Sovereign will arise and institute unified regulation of banking globally, this as referred to, in the James Politi and Gillian Tett Financial Times article, NY Fed Chief In Push For Global Bank Framework, and that the Seignior will oversee all matters of debt and credit, and implement a universal currency system, that is a global currency system, that will likely first be used by Portugal, Italy, Ireland, Greece and Spain, as they will have lost their sovereign debt seigniorage and the ECB will have stopped buying their debt.
Perhaps Robert Rubin, Co-Chairman of the Council On Foreign Relation, the CFR, or European Council President Herman Van Rompuy will rise to be the world’s Sovereign and institute global governance as he said November 9, 2010: ”We have together to fight the danger of a new euro-scepticism. … This is no longer the monopoly of a few countries. In every member state, there are people who believe their country can survive alone in the globalised world … It is more than an illusion: it is a lie!”, reports EU Observer, in article EU President Issues Stark Warning Against Nationalism.
EU Council President Herman Van Rompuy has issued a stark warning against growing nationalism, populism and anti-democratic forces across the EU, suggesting that the threat to peace in Europe remains a key issue.
“Today’s nationalism is often not a positive feeling of pride of one’s own identity, but a negative feeling of apprehension of the others. Fear of ‘enemies’ within our borders and beyond our borders.”
Beyond the EU’s economic and political structures, he said that Europe needed to look to its heritage, in particular, the values and virtues of Ancient Greece.
He also touched on the current economic crisis, cheering the recent decision of European leaders to move towards common economic governance.
“One cannot maintain a monetary unity without an economic union,” he said, and went on to salute the “courage” of EU leaders in imposing austerity measures over the top of popular opposition.
“I, for one, have really been impressed over the last year by the political courage of our governments. All are taking deeply unpopular measures to reform the economy and their budgets, moreover, at a time of rising populism.
“Some heads of government do this while being confronted with opposition in parliament, with protest in the streets, with strikes on the workplace – or all of this together – and fully knowing they run a big risk of electoral defeat.
“And yet they push ahead. If this is not political courage, what is?”
Elain, definitely the drumbeat for global governance sounds louder by the day.
Pingback: A Global Sovereign, Seignior And Currency … Are Rising To Rule Mankind « EconomicReview Journal
ACHTUNG! Germany Riots!!
http://tinyurl.com/326o6x4
Pingback: Bear Market Begins With Currency Traders Squeezing The European Leaders For A Committment « EconomicReview Journal
I noticed something on our news last night that i would not have noted had i not been reading here. Harpers new ‘free trade’ deal with india, the report highlighted how a local importer could no bring in cheaper textiles sans duty, but an exporter of playground equipment was still ‘hoping’ that india would relax its duties. The whole story was presented as happy times of course, to a 99.9% brain dead audience.
‘now bring’
.
im a guitar guy… hell i play the fucking thing
.
but drums… those guys are timeless
“deficit raddled US and UK on one side” riddled+addled=raddled… good one.
petard now means – petroleum + retard!
Bernanke = burn + yankee…. appropriately
Koreans eat dogs, especially black dogs… in winter for the “heaty” effect. I am not making that one up either.
So all I am saying here, is that all the words convey messages in both literal and figurative meanings just as incoming wave fronts create what we think of / experience as “realmatter” particles! Trains of words are the longitudinal carriers of the message/and are the message at the same time.
Regarding the relationship of the US to the world as a whole, as the US relative influence declines, the “world” outside the US takes on a different composition. Bernanke is trying to force a US complexion via USd exports onto the rest of the world, that is taking on a Yuan trading currency as the means of barter .. which was sold by China as a “more stable means of exchange” via currency swaps. But the US is trying to short cct this by inducing wild swings in USd relative to rest of world currencies aka including Yuan. So the intent is to separate the Yuan/USd death grip. However, once the rider and the bull in that “china shop” are separated the intent of the bull is to stomp on the rider!!! So he hangs on for dear life. I wonder how far the shop will be wrecked before the kicking and snorting stop. Will the bull tire out first?
Blowing yourself up with your own grenade is a bloody version of being hoisted by your own petard.
I hate to be picky but a petard is a hand cannon (a very primitive firearm) and being hoisted by your own petard actually means raising yourself by your own flatulence.
Germany Blasts Bernanke
Results of Fed Stimulus Could Be ‘Horrendous’
“I don’t think they are going to solve their problems that way,” Schäuble told German public broadcaster ZDF in a Thursday evening interview. “They have already pumped an endless amount of money into the economy via taking on extremely high public debt and through a Fed policy that has already pumped a lot of money into the economy. The results are horrendous.”
http://tinyurl.com/3yeeryp
billibaldi, my American Heritage dictionary agrees with Elaine on “petard”.
West cannot defeat al-Qaeda
http://www.bbc.co.uk/news/world-middle-east-11751888
http://news.yahoo.com/s/ap/20101114/ap_on_go_ot/us_judges_threats;_ylt=AmGV2I3lZamtf7rZw8xnVtus0NUE;_ylu=X3oDMTFlcWY3ZHNlBHBvcwM3OQRzZWMDYWNjb3JkaW9uX3BvbGl0aWNzBHNsawNzb2NpYWxzZWN1cmk-
applications for disability benefits, which are available to people who can’t work because of medical problems.
Nearly 2 million people are waiting to find out if they qualify for benefits, with many having to wait more than two years to see their first payment.
.
wow…. Welfare State 2million – USA QE2
.
we should just bonus these applicants…. get them out of the news for awhile, works for the banks
.
all this shit proves is we need lower taxes to dry up these oasisis… met a girl once working in california, she went to woodstock once worked for a greenpeace lawyer in the 60s blah blah blah… said there was something wrong with her feet, and somehow got social security payments for life…. shes walking into and out of the bar reading a book living in santa barbara, and her feet look normal
.
not a grey hair man not one…. Ya’ know, it is a war for oil.
On November the fourteenth two thousand and ten Cleveland will defeat the Jets as they have proven themselves capable in the AFC North conference.
.
at worst the browns are one angry dog
Interesting , why would the NYT report it at this time?
http://www.nytimes.com/2010/11/14/us/14nazis.html?_r=1&hp
@zip
If it’s about Operation Paperclip, ( I can’t access the page ) it’s a very old story, and I also wonder why it should come up now. Who gains ?
Elaine
is this propaganda? does it make sense?
You can read the conclusion of the book by viewing the inside…page 209 and further.
I don’t know about it, but they refer to Minsky’s financial instability theory, the failing of the credit multiplier and 100% reserve requirement…and the narrow interests of the wealthy at the expense of society at large.
if link does not work it is this book at amazon.
The Stability of Islamic Finance: Creating a Resilient Financial Environment for a Secure Future (Wiley Finance)
ΩΩΩΩΩΩΩΩΩΩ
ELAINE; Islamic finance is a total horror. It is also FICTIONAL today. They pretend to have no interest rates but it is run pretty much as a camouflaged interest rate system. And its basis is oil or other resources which the PUBLIC in these countries do NOT own, and worse, the state is an oligarchy in virtually all of these countries except for Iran.
http://www.zerohedge.com/article/qe2-last-rites-world%E2%80%99s-%E2%80%9Creserve-currency%E2%80%9D
The Fed is at war; that’s the truth of the matter. Economist Michael Hudson calls Quantitative Easing (QE) “a form of financial aggression.” But Hudson probably understates the case; “monetary terrorism” (moneterrorism?) is probably closer to the truth. QE is flooding emerging markets with cheap capital that’s forcing their leaders to take defensive action to protect their economies.
.
once again… if your at war you HAD BETTER WIN… realistic expectations required to prevent perverse incentives for your enemys
.
did anyone even vote for the FED to do anything… is there ‘responsibility’ assumed by action of this entity by….
.
anyone
banks run the government/military/commodity market with no representation
.
no problem
@wb: The collapse of the US is now irreversible, and with it the closure of over 100 military bases around the world (as happened to the USSR in ’91), will come the the demise of Al Qaeda. The child will die with the parent.
Don’t take my word for it, instead watch as it unravels; I have no doubt history will support what I said in a few years.
@ Clueless
I agree.
It seems Bernanke and Obama assumed “sales talk” and US hegemony would be enough to sway G-20 to their benefit.
Hillary “smart power” politics to insert US role as regional arbitrator to pressure China is so facile.
I am amazed at the incompetence of Washington.
Regional players want only US military to play role as “goons” to intimidate China.
Personally, as explained by Elaine, the best way forward is for the US to “man-up” and rebuild their industrial and economic base – the only basis for tangible power.
@Aussie: Quite right, the G20 was a failed dog and pony. Even the India card is in doubt. The Indians understand divide and rule (DAR), they learned well from the Brits, as did the Chinese. If the Chinese and Indians can learn to foster a relationship based on similarities rather than differences that would be the key to harmonizing global recovery. If not, they will again fall prey to the Western strategy.
Further, if India can perfect its thorium powered nuclear plants there will be less competition between the two for oil and gas resources, a positive. BTW, India (Tata) is also about to launch a car that uses a compressed air engine, a clear game changer.
On the US, in my opinion, the US needs a 2nd Revolution, one to take out the entrenched elite and make them accountable for their actions. That failing, i fear a strong chance of America turning into a fascist state. The signs are already there, you see more of it everyday as the facade crumbles and many truths come to light.
The “incompetence of Washington” you speak off is due to the fragmentation of their elite. In 4 years, assuming there is a Presidential election, and if the elite are not displaced, it will the be the Hillary-Sarah show. That will be too sad.
ΩΩΩΩΩΩΩΩΩΩΩ
ELAINE: I wrote about the compressed air car in the past. Yes, it could be a game changer, of course.
Compressed air? Still not revolutionary enough!
There is infinite free energy around us that we could tap into at any place on earth providing us with yes, infinite free energy, Nikola Tesla, the greatest genius of the last 250 years said so.
Much like the corrupt faulty science economics today, physics too, has been corrupted. Today we still use 1900′s science and it’s ridiculously outdated. According to 1900′s science, free energy is not possible so we have to rely on fossil fuels and of course those fossil fuels have been monopolized by the status quo. And no, the status quo does not want to lose this monopoly on our main source of energy: oil.
Some names for the energy that is all around us: today the call it zero point energy, the philosophers of old called it the ether, the Chinese call it chi, the Indians call it prana, the Japanese call it ki. It’s everywhere and free for us to use!
What i’m trying to say is SPACE IS NOT EMPTY!
ΩΩΩΩΩΩΩΩΩΩΩ
ELAINE; I figured you would fall for this. Free money, free energy, everything free and easy. What a world.
“Question: “What is the magnitude of this field energy potential?”
Answer: The energy content of the G-Field was calculated as (1) 1033 cm3 by Sir Oliver Lodge, England, 2) 8.8xl08 volts/cm by Prof. S. Seike Japan, 3) 250 billion Joule/ml by Rene L. Vallee, France. To repeat a popular conversion figure published in Switzerland, the energy content of One Liter SPACE is about equal to the energy of 5000 Liters of gasoline.”
From The Manual of Free Energy Devices and Systems.
@clueless… more like 800 bases, and rising per Chalmers Johnson’s estimates.. read his books like “blowback” and others:
Dismantling the Empire: America’s Last Best Hope
@wu wei … yes thats right. We might just get a big surprise soon on this front. This will upset the world order totally, due to “military strategic” implications.
@Wu Wei: I agree zero point energy would be revolutionary, but not today. Even if they perfect it today, it will take at least 2 years to fund and produce, and ramp it up to a discernible influence.
Compressed air is here now, for example, if an average American family can save $1,920/month on fuel cost (http://www.visualeconomics.com/how-the-average-us-consumer-spends-their-paycheck/) it is a big deal. Multiply that by 100 million households and you have the effect the Fed wants to create through it’s failed Quantitative Easing policy.E. If you factor in the peripheral savings (shipping, distribution, forex savings, etc.) then you get a real stimulus to the US economy, not a stimulus to the pockets of the entrenched few in the oil, power and shipping industries.
@adamm: Thanks for the input, 300 bases is way more than I imagined. This video gives a good perspective on the effect of military adventurism for corporate profit on the US taxpayer, ie. fascism.
http://tinyurl.com/35me6rw
Hi Elaine,
Free money? Haha, DEBT free money issued by the government. Big difference! And you obviously didn’t read anything i said about how we should create it. We will put a limit on the money that we are going to create. Please read The Science of Money by Alexander del Mar for more info.
About “free” energy. It exists. Our current laws of physics (the law of conservation of energy in this case) apply to a closed system. Our universe however is NOT a closed system, it’s an open system where massive exchanges of energy (electromagnetic, gravitational etc) are constantly taking place, a massive orgy of energy exchanges if you will. The laws of physics are NEVER violated because using these free energy devices means we aren’t creating nor destroying any energy whatsoever, we merely tap into energy exchanges that are already taking place. Compare it to a downhill flowing river, we can just sit in our boat doing absolutely nothing and let the river take us downstream, we would not have to row or anything. We are making use of energy already present (gravitational).
Physics is not your department, Elaine (nor is economics but hey).
Our current financial system:
1. It is the people who give value to the instrument or currency that is issued by the creators of money.
2. He who controls the issue of money controls the governments, corporations and individuals. the bankers could control the media, by “withholding patronage from all…who are not willing to oppose the Government issue of
money”. This same method has been used to control the media, the schools (both public and private) and the government, itself.
3. “Man is born free, but everywhere he is in chains.” ~ Jean-Jacques Rousseau. The Fed creates the need for being in eternal debt and the need to tax people.
4. Every dollar created requires someone willing to pay interest to the Banksters.
5. The “dollar” measuring stick does not represent a fixable value.
6. The “dollar” is constantly losing value and thus cannot be used to store wealth.
7. The falling value of the dollar makes it preferable to be in perpetual debt as the value of the debt keeps decreasing due to inflation, i.e. in perpetual risk and at the mercy of the BankLords who control and manipulate the issue of debt and thus boom and bust cycles locally and nationally.
8. The dollar is not redeemable by the issuer just like shares are not redeemable by the company that issues them, i.e. you have to find someone else than the issuer who is willing to buy it or to trade it.
9. The Federal Reserve System is the BankLords’ bank that is a private monopoly credit issuing cartel and is incapable of accomplishing its stated objectives already proven a failure by its past performance. It benefits the BankLords who wind up controlling everything and take in about 80% on each dollar issued.
10. It is a private money issuing cartel operating against the public interest. “Power corrupts, and absolute power corrupts absolutely.” – Lord Acton.
11. The BankLords in-fact own you because they issue claims against the entire country’s assets and labors as if they
owned it, and instead of you being borne free owning your share of the planet’s resources, you are born indebted to the Banksters.
12. It’s the supreme instrument of usury and slavery (see later the sections on usury and slavery).
13. It consumes most of our tax dollars and after-tax dollars in hidden interest charges.
14. It generates our most unfair tax through inflation and bail outs.
15. It encourages war and creates massive war debts. The BankLords fund all sides in conflicts.
16. It encourages currency wars to maintain hegemony over the World Currency (currently the US Dollar)
17. It destabilizes the economy. The BankLords create the boom and bust cycles, ever so profiting and accumulating land and other assets leaving less and less for the growing populations.
18. It discourages private capital formation.
19. It generates enormous profits which the cartel owners then channel into controlling governments.
20. Governments keep passing laws and executive orders favoring the BankLords at the expense of the masses.
21. When a bank fails because it cannot meet the interest payments to the FED banks because it has issued too many
bad or fraudulent loans or its funds have been embezzled or it’s spending lavishly on salaries and bonuses, etc., all of the liability is transferred to the taxpayers.
22. There is a major conflict of interest: those who create money get to give themselves loans to buy out other businesses.
23. Monopolies and cartels must not be allowed, whether it’s banking cartels or oil cartels.
24. Banks create money out of thin air and distribute it, unevenly throughout the economy, at interest.
25. The Fed is expected to combat inflation; instead it has allowed the dollar to lose over 75% of its value in the last 30 years alone.
26. Using the accounting rules that apply to others, every money center bank has been hopelessly insolvent for over 20 years.
27. Financial bailouts — by both the IMF and the U.S. government— involve massive wealth transfers from ordinary taxpayers to the financial sector (mostly banks).
28. FDIC insurance coverage encourages money to flow into banks— particularly risky banks— that otherwise would have flowed elsewhere in a free market.
29. While money creation always increases prices, some methods and patterns of distribution produce dramatic wealth transfers while others have no such effect.
30. The Fed was formed in 1913 to be a lender of last resort; yet, throughout the 1920s, banks failed at unprecedented rates and in 1933, 1/3 of all banks failed.
31. Democracy and free enterprise both suffer when government permits an elite group to create money and forces the rest of us to honor that money through legal tender laws.
32. Since the money creation privilege is always abused, the government must grant additional special privileges to cover-up the effects of those abuses.
33. Special privileges cover-up reality and temporarily restore confidence but do not actually rectify the resulting distortions.
34. A massive financial collapse is the only viable result. Special privileges make the ultimate crisis inevitable but also make the timing unpredictable.
35. The special privileges for the BankLords make financial collapse inevitable: unlimited money creation, allowed accounting irregularities, protective bank secrecy rules, insured bank deposits, Fed-protected bank assets taxpayer bailouts of bank losses.
36. BankLords keep increasing their wealth while the rest keep accumulating the debt.
Quoted from “THE HIDDEN HISTORY OF MONEY & FEUDAL ORDER USURY SECRETS”
Clueless, i disagree, the more time we waste working on other sources of energy, is just more time we could have spent working on truly infinite free energy devices that will set everyone free.
I mean, Tesla made his discovery in the beginning of the 20th century. We already lost 100 years!
As far as I know, the enthusiasm for compressed air cars is misplaced.
Energy is required to compress the air, so that still has to come from electricity production, that is, from nuclear, coal, gas, hydro, wind, or solar, and compressing the air produces heat which is wasted and inefficient.
This is one of the same problems why hydrogen cars are no use. Compressed air and hydrogen are *stores* of energy, not *sources* of energy.
Secondly, they don’t have enough power to accelerate or go up hills. They’re ok for small vehicles on factory floors or flat streets.
We do love rushing up hills at 70 mph! But this is insane. Going up slow is perfectly fine and our fast speeds kill, anyway.
About free energy: this concept is BS. No one and I do mean no one would pay through the nose for energy if there was some easy free energy system sitting right there. Requires no conspiracy thinking to know why we don’t have infinite free energy. It just isn’t possible, it doesn’t exist and we can’t do it and even if we could do it, it would ultimately totally destroy us (the black hole business comes to mind, humans love infinity and go there whenever possible).
Taking energy from the sun and then using it to charge batteries and then to tool about easily but not at 70mph is totally possible but we can burn fossil fuels right now and drive like the Gods, fast as fast can be! So I expect people to do this until it is impossible. Then we collapse and walk everywhere again.
Humans managed to spread across the entire planet walking or using small canoes.
As for the stupid, stupid idea that if we use our government to issue ‘free’ debts…WITHOUT CAPITAL…this is pure lunacy. It has been tried over and over and over again and this is why we have the word ‘hyperinflation’ in our vocabulary.
@Elaine…The tax exemption for mortgage interest doesn’t exist in most countries and it’s really a bad idea. It’s better to keep interest exemptions for productive assets like industrial equipment.
@Ziff…Isn’t it amazing that Canadians aren’t outraged over free trade with India. A few Saskatchewan farmers will sell more lentils, but the rest of the country will lose more manufacturing jobs. So sad.
“It should be painfully obvious to even idiots like Obama that Asia isn’t as stupid as the US.” I would also like to point out that Asia is not as cheaply bought off as are for example, American politicians. The Chinese know where the money is; they will start pressing US-based Multi’s for some form of profit sharing. The Chinese are becoming less and less happy with being merely the cheap labor that drives the profit engine of US Multinational Corporations. This isn’t a new idea, but is an idea gaining increasing momentum. Of course, the unspoken trump card the Chinese hold will be the nationalization of US Mutli’s factories in China. Moving to another Asian country may be a stop gap measure, but Asian countries are reluctant to piss off the Chinese.
Pingback: Air Car 2010 by Pat Boone | Osmikanal