I goofed yesterday and had ‘All in the Family VI’ by accident. Well, today, we get to see part V so I assume that tomorrow will be part VI. This Madoff business is exposing some pretty nasty Mafioso business that intertwines across time and space. When following trails in the internet, one finds all kinds of INTERESTING junk which illuminates very well, how the Jewish Mafia operates in NYC. Aside from my own, personal knowledge, we can prove this case here via legitimate news sources. So here we go:

Madoff Is Under Around-the-Clock Home Detention, Will Be Watched by Guards

 (Bloomberg) — Bernard Madoff, accused in a $50 billion investment fraud, was placed under 24-hour house arrest in his $7 million New York City apartment after prosecutors warned of his “harm or flight.”

Assistant U.S. Attorney Marc Litt said in the letter, sent to U.S. Magistrate JudgeTheodore Katz in New York, that Madoff’s wife, Ruth, will pay for the surveillance. Katz agreed to the condition.

I decided to track down the Jewish judge to see how he operates.  It was quite difficult but in the end, I found what I knew from the beginning: he is part of the Jewish Mafia.  He should have NEVER allowed this huge criminal to go free!  Not in the SLIGHTEST.  Not only that, the mercy he showed to this criminal is shown ONLY TO JEWS.  


For this reason, I call for this judge to be removed not only from the Madoff case but removed from his bench!  First, I will lay out my case step by step before delivering the final bits of information that thoroughly indites this man. 


First off, it is plainly obvious that Madoff is a flight risk.  Normally, he might want to rush off to Israel and live there with impunity.  Now that Argentina and Brazil ship people like him back here for trial, the number of places open for thieves to flee are cut down.  Perhaps, he might flee to Dubai.  The real problem is, he is troublesome to everyone right now and in NORMAL cases, he would have been locked up.


Madoff-Mania Creates Chaos for Neighbors, Deliverymen on East 64th Street

(Bloomberg) — Now it’s Bernard Madoff’s mailman who is suffering from what is being called the largest investment fraud in history.

“It’s only on this corner where I have a problem,” Perry Pecorino, the letter carrier for 133 East 64th Street, said yesterday. “You gotta fight through the people, going in and out of the building. Everybody’s in the way….”

“They’re there 24 hours, it’s really despicable” said Jay Bolusa, who lives one block east of Madoff, and walks her dog past Madoff’s building every day. “Imagine going out of your apartment and you see all the media. It’s terrible! You’re not free.”

Residents walking in and out of Madoff’s building Friday picked up speed if they sensed a reporter was approaching. One woman pulled her child close as she stepped into the lobby.

Madoff’s doormen did double duty as security guards and traffic police. Two doormen yesterday stood sentry behind the lobby’s glass doors, preventing any media from crossing the threshold. A third directed traffic, as media cars tried to park out front, along a sidewalk where signs say “No Standing Anytime.”

He is a public menace.  He is causing traffic problems.  He is a suicide risk???  What the hell?  In normal society, when a man accused of crimes is also a suicide risk, he is put in jail and put under suicide watch.  He isn’t allowed to muck around the neighborhood from dawn to dusk.


The obvious ludicrousness of this business was so glaring, the Jewish judge had to change his rules so there was slightly more surveillance of this Jewish crook.  But bless him, the judge thought one of the richest scam artists on the planet should be able to park his ass in his extremely expensive apartment!  HAHAHA.  Talk about generous.


And it was generous because the judge is unfair and unreasonable.  He is a judge who openly enables Jewish criminals.  While throwing the book at non-Jews.  Before I make my case here, I want to visit another news story from today.  The gang of thieves at the heart of the Madoff affair have ties to other scandals of the past.  


Foundation That Relied on Madoff Fund Closes –

The Madoff scandal is proving so big that even some large charities will not recover. One of the nation’s leading philanthropies, the Picower Foundation, announced on Friday that it was shutting down.

The foundation has given $268 million to groups like the Picower Institute for Learning and Memory at the Massachusetts Institute of Technology, Human Rights First, the New York Public Library and the Children’s Health Fund since it was established in 1989 by Barbara Picower and her husband, the investor Jeffry M. Picower, in Palm Beach, Fla.

Mr. Picower appears to have made a fortune in a 2004 deal struck by Cardinal Health to acquire Alaris Medical Systems for $1.6 billion. Mr. Picower owned 65 percent of Alaris.

He was said to have been friends with Mr. Madoff for 30 years. But he has brushed up against other financiers whose conduct caused him losses. In 1990, Mr. Picower recovered some of the money he had invested in Ivan Boesky’s biggest arbitrage fund. Mr. Boesky pleaded guilty to securities fraud charges in 1986.

So, this guy who had to shut down his charity was a buddy of Boesky!  Am I not shocked.  Mr. Picower benefitted from the flood of Japanese carry trade funny money and its mania for buy-ups and buy-outs.  He took his share of the pie after loading Alaris with debt, off he trotted to Palm Beach to have fun in the sun and make an eternal 10%+ profit off of the proceedings. 


What this is, in real terms, was money lent by the Bank of Japan to an offshore tax haven hedge fund which then passed this loot to Picower and the debt was laid on a corporation that had a real function in the real world.  The money passing through various hands stuck to greedy fingers as everyone got their fees and charges and Mr. Picower got the final loot.  He then wanted it to ‘grow’ while he produced nothing.


This is the ‘coupon-clipping’ society that is often a leech on society since what they are demanding is interest, not on ‘profits’ but on deals based on debt.  So the debt mountain grows rapidly.  The people ‘buying’ Alaris were not investing profits, they were investing Japanese debts!  Which, incidentally, are now violently unwinding and this is why there is no ‘liquidity’.  


Most of this ‘liquidity’ was pure poison to capitalism.  All it did was pile debts on businesses while players ran off with all the loot.  This desiccated commerce even as it flooded the world with ‘liquidity’.  Boesky helped invent the system that is now destroying the entire planet’s capitalist economic systems.


Ivan Boesky – Wikipedia

was notable for his prominent role in aWall Street insider trading scandal that occurred in the United States in the mid-1980s. He is a graduate of Detroit’s Mumford High School and the Detroit College of Law, class of 1964.[1]

By 1986, Ivan Boesky had become an arbitrageur who had amassed a fortune of about US$200 million by betting on corporate takeovers. He was investigated by the U.S. Securities and Exchange Commission for making investments based on tips received from corporate insiders. These stock acquisitions were sometimes brazen, with massive purchases occurring only a few days before a corporation announced a takeover. Boesky was on the cover of TIME December 11986.[2]

Although insider trading of this kind was illegal, laws prohibiting it were rarely enforced until Boesky was prosecuted.[3] Boesky cooperated with the SEC and informed on several of his insiders, including junk bond trader Michael Milken. As a result of a plea bargain Boesky received a prison sentence of 3.5 years and was fined US$100 million. Although he was released after two years, he was barred from working in  the securities business for the remainder of his life.[4] He served his prison sentence at Lompoc Federal Prison Camp near Vandenberg Air Force Base in California.


Note the line, ‘Although insider trading…was illegal…it was rarely enforced’.  HAHAHA.  Guess why?  The people guarding the public were in the pockets of the people doing insider trading!  Only when things get totally out of control and the stock market falls off the cliff due to all the insider trading and people are ‘exposed naked as the tide goes out,’ does anyone get arrested.


I happen to know how the judges in NYC get into office: first, you join a political club.  Then, the guys at the top, if you please them and your rulings help them and their all-important donors to the election funds, then they put your name on the ballot and people vote party-line and voila!  You get to be a judge!  This is a corrupt system.


If one works hard to please the various interlocking or rival ‘Mafias’ in NYC and boy, there are a lot of these, and if one’s political club gets enough power to club people senseless, you can move upwards, fast, on this magic carpet.  I used to lurk in court rooms, checking out judicial candidates, looking either for dirt or for bias.  Then, I would raise a ruckus if rival political clubs try to move a bad judge upwards.


Now, the above article mentions Milken.  He leads us back to Judge Katz, so here we go:


Michael Milken – Wikipedia,

is a prominent American financier and philanthropist who almost single-handedly created the market for high-yield bonds (also called junk bonds) during the 1970s and 1980s.[2]

After he was sent to prison on finance-related charges, his detractors cited him as the epitome of Wall Street greed during the 1980s, and nicknamed him the Junk Bond King. Admirers, like George Gilder in his book, Telecosm, note that “Milken was a key source of the organizational changes that have impelled economic growth over the last twenty years. Most striking was the productivity surge in capital, as Milken … and others took the vast sums trapped in old-line businesses and put them back into the markets.”

Milken was indicted on 98 counts of racketeering and securities fraud in 1989 as the result of an insider trading investigation. After a plea bargain, Milken pled guilty to six securities and reporting violations; he was not guilty of racketeering or insider trading. He was sentenced to ten years in prison, but was released after less than two years. Critics have suggested he then launched a public relations campaign to highlight his role as a financial innovator, particularly with regard to popularizing higher-risk alternative investments.

Milken has also devoted much time and money to charity over the past three decades:

  • He co-founded the Milken Family Foundation in 1982 to support education and medical research;
  • He is chairman of the Milken Institute, which hosts the annual Global Conference, which is attended by more than 3,000 thought leaders and decision makers from nearly 60 nations; and
  • He is the founder of the Melanoma Research Alliance, FasterCures (Center for Accelerating Medical Solutions), and the Prostate Cancer Foundation.

Cute, isn’t it? Both of these criminals got their sentences greatly reduced.  HAHAHA.  No lifetime in prison like Muslims caught up in the persecution of anyone who donated to Hamas or other Muslim organizations!  This guy CREATED the present mess!  None of the odious systems he put into motion were rendered illegal and terminated.


It is no wonder, obvious Ponzi schemes flourished in this forest of scams!  the ‘productivity surge in capital’ was never a surge in capital.  It was a SURGE IN DEBTS.  This is a very important distinction.  Throughout this whole tragic mess, the deliberate confusion over what is capital and what is debt is a key issue.


Just like the US is told, we have a strong economy when it is patently obvious, the economy is very weak since it takes on more and more debt, the more it grows.  And at a much, much faster rate than the rate of growth of the GNP.


Without question, many leading entrepreneurs of the 1980s owe their success at least partly to Milken’s perception of this market opportunity. One of his favorite sayings: “There is no shortage of capital; there is only a shortage of management talent”.

This money-raising ability also facilitated the activities of leveraged buyout (LBO) firms like Kohlberg Kravis Roberts, and of so-called “greenmailers.” Armed with a “highly confident letter” from Drexel (in which Drexel promised to get the necessary debt in time to fulfill the buyer’s obligations), were able to profit by merely threatening LBOs of large, blue-chip companies in which they had built up equity positions. Milken’s task was perhaps made easier by the fact that the top-tier Wall St investment banks were unwilling to compete with him for fear of jeopardizing their longstanding and lucrative relationships with many of these blue-chip companies who were potentially his targets, although latterly companies like Salomon BrothersMorgan Stanley and First Boston did (metaphorically holding their noses, perhaps) enter the high-yield market. Notable buyouts financed by Drexel of companies previously thought invulnerable included Beatrice Companies and the cosmetics firm,Revlon.

Milken greatly expanded the use of high yield debt (junk bonds) in corporate finance and mergers and acquisitions, which in turn fueled the 1980s boom in LBOs, hostile takeovers, and corporate raids.

Back then, the buy-out business was considered a criminal operation. The guy who launched this business was put in prison.  Briefly.  But by the time he got out, everyone was imitating him.  ‘Holding their noses,’ these financiers in the top banks proceeded to dump immense amounts of debt on top of all the corporations on earth.  They also held their dainty noses while driving up the value of housing, using the same systems they set in motion.


Using DEBT, Milken was able to threaten companies with him dumping this debt on them if they didn’t pay him off.  Today, the dumping has been accepted as a great revenue stream by all the banks.  WHO ARE NOW BANKRUPT.  Because this is the fundamental basis of the lending mess, I say, arrest everyone involved!  Including any judges who enable this by being nice to obvious criminals.


From Wikipedia, we learn about the judges involved in today’s story:  

At Milken’s sentencing, Judge Kimba Wood told him:

You were willing to commit only crimes that were unlikely to be detected…. When a man of your power in the financial world… repeatedly conspires to violate, and violates, securities and tax business in order to achieve more power and wealth for himself… a significant prison term is required.

Wood recommended a 10-year prison sentence, of which, in her opinion, Milken should have served at least 36 to 40 months. However, Milken hired Alan Dershowitz to help reduce his sentence. Milken served only about 22 months (from March 1991 until January 1993) before being released. Wood was picked by President Bill Clinton to be attorney general in what some called a reward for reducing Milken’s sentence. She was forced to withdraw because she had hired an illegal alien as her nanny.

I remember that scandal!  HAHAHA.  Well, the smooth transition from talking tough and then giving goodies to obvious criminals didn’t pave her path to total control of the entire US justice system!  Way back then, I was entirely against Bill Clinton and even backed Ross Perot who ran against him.  


Clinton is very corrupt.  Bush is even worse.  We have now had 25+ years of nonstop corruption at the top.  And now our entire banking and economic systems lies in ruins.  This is directly due to rampant corruption in the public arena.  Well, Kimba the Lioness is still around.  She supervises this court:



Judge Katz works for this corrupt judge.  I looked at a number of his cases in the past and found THIS one:

Pakistani Credit Suisse banker held without bail
NEW YORK: A Credit Suisse investment banker from Pakistan, charged in a multimillion-dollar insider trading plot, was ordered to be held without bail on Friday as a flight risk.
Hafiz Muhammad Zubair Naseem of Rye Brook, New York, could face more than 30 years in prison and has no significant ties to the US, Assistant US Attorney Joshua Klein told US Magistrate Judge Theodore H Katz in Manhattan. Katz said the case against Naseem was solid and his ties to Pakistan were stronger than ties to the United States………
Naseem’s lawyer, Marc Mukasey, asked that his client to be freed on $1 million bail, because one of Naseem’s young daughters was scheduled for spinal surgery at a Manhattan hospital in July. Mukasey said Naseem’s wife and children created an emotional tie to America………..
Mukasey said that the suggestion that his client could face up to 33 years in prison was “ludicrous”. He said his client, “a Westchester family man, plain and simple,” was innocent. Klein said Naseem told investigators after his arrest that, “One thing you guys should know is had I been guilty, I would have never come back.”……….
Naseem was arrested at work on Thursday on charges of conspiracy to commit securities fraud and 25 counts of securities fraud. He wore a rumpled blue shirt and suit pants to court Friday. The charges carry potential fines of up to $15 million. ap

He didn’t let this poor man out even for his daughter’s surgery????


THIS IS A CRIME.  Showing mercy to a Jewish fraudster who bilked over $50 billion dollars in the biggest Ponzi scam on earth while being utterly and totally unnecessarily cruel to a Muslim: this is criminal.  I call up on this judge to resign.  The scales of justice are totally tipped to one side.  There are two laws in his illegal court: one for Muslims and one for Jews!  This is totally wrong!  Arrest Judge Katz.  And don’t let him have sun rise to sunset freedom in the heart of NYC.  Send him to Gitmo.





Filed under .money matters

32 responses to “ALL IN THE FAMILY V

  1. Gary

    Stephen Speilberg should make a new movie

    He could call it , “Swindlers List”….heh heh

  2. Bear of Little Brain

    As usual, this exposé of the very predominantly Jewish “deep capture” of the system will be parried with cries of “Anti-semitism!”. This smear tactic is being seen for what it has become – a cover for criminals and extortionists at all levels. Unfortunately, it ensnares the perfectly innocent and uses them as a shield. We lack the vocabulary that would allow us to isolate these scum and rob them of their cover. Any suggestions?
    Incidentally, I have a fairly old (1975) Chambers dictionary. In it, we have:
    “Anti-semite: one who cherishes hatred of Jews or their influence.”
    Nicely nuanced, huh?

  3. TTC

    At present there are thousands, maybe even millions of Americans who are cold, hungry, sick, or otherwise struggling to make ends meet.

    I hear that Israel is going to get its handouts and set asides no sweat.

    Someone needs to explain this to me because I don’t get it anymore.

  4. nah

    i am so waitin’ for the next bailout… how are they going to stop… just all of a sudden we got 17trillion in debt and everything works great?… stock broker says ‘there really worried about madoff buying CDS and CDO thats the only way you can cover this kinda shit up’ they being regulators or someone… and house arrest is cheekey’ that dude needs the slammer 50 billion rite…. AT LEAST post bail or sit and rot… thats the way it works for all the rest of us… imean paris hilton was forced to to some menial time ‘and her parents pleaded she was insaine’ and she did a lil’ time for a trafic violation or something DUI… i say send madoff to israel he will cost us less THEN the IRANIANS can kill him for us LOL…
    vote your paycheck

  5. emsnews

    Joel Stein: I lived with his brother for several years in NYC. Their father is famous. Fiddler On the Roof famous. And he is right about the Jewish-owned media hiding in plain sight. For years and years, if I mentioned even casually that Jewish guys own our systems we use to get information, people would howl at me.

  6. PLovering

    Latest definition of anti-semites:
    Those whom the jews don’t like.

  7. rockpaperscizzors

    12/20/08 Huffington Post: Mike Connell — Key Figure in OH Voter Fraud and WH Email Scandals, Dies in Plane Crash
    Mike Connell, Karl Rove’s IT guru–who was compelled six weeks ago to testify in an Ohio vote-tampering case–was killed late Friday night when his plane crashed into the garage of an empty house. Ohio’s Secretary of State, Jennifer Brunner had requested that Attorney General Mukasey put Connell and under Federal protection.

    7/31/08:Lawyer to AG Mukasey: Rove Threatened GOP IT Guru If He Does Not ‘Take the Fall’ for Election Fraud in Ohio
    Karl Rove has threatened a GOP high-tech guru and his wife, if he does not “‘take the fall’ for election fraud in Ohio,” according to a letter sent Thursday morning to Attorney General Michael Mukasey, by Ohio election attorney Cliff Arnebeck.

  8. OC


    Seems like the rerun of Weimar Germany if one is not too careful….in US.

    The present political system is set to go the way of all typical empires…unable to fix itself and lost all credibility..leaving itself vulnerable to new challengers and a sudden but total collapse like USSR.

    Just look at the forecast by Saxo Bank for next year…the Asians is going to create their own monetary and trading zone…and perhaps Euro falling apart..

  9. It’s all nuts, folks. This Israeli/ zionist propaganda overreach looks to be precisely the ticket to the next holocaust. I have haunted the internet for many, many years, and if I know of one safe haven for liberal critics of the zionist agenda, other than this, it does not come to mind. Maybe Alex Jones. That’s it. And I have passwords for well over 200 sites. This kind of repression will do anything but ensure the safety of Jewish people. Here is a (former) website run by a very right-wing guy who speaks in terms of “racial pride” and “the Jewish agenda.” But I do not get the impression he desires to gas anyone:
    Zionist Watch
    He is getting out of WordPress, and will start a new independent site soon:
    White Wraith

    Federation of American Scientists
    Israel: U.S. Foreign Assistance
    Israel is not economically self-sufficient, and relies on foreign assistance and borrowing to maintain its economy. For the past ten years, the United States has provided $3 billion in grants annually to Israel. Since 1976, Israel has been the largest annual recipient of U.S. foreign assistance, and is the largest cumulative recipient since World War II. In addition to U.S. assistance, it is estimated that Israel receives about $1 billion annually through philanthropy, an equal amount through short- and long-term commercial loans, and around $1 billion in Israel Bonds proceeds.
    In the U.S. climate of budget cuts, many are debating possible reductions in U.S. aid to Israel. Israeli Prime Minister Netanyahu told a joint session of Congress on July 11, 1996, that Israel would reduce its need for U.S. aid over the next four years.
    U.S. aid to Israel has some unique aspects, such as loans with repayment waived, or a pledge to provide Israel with economic assistance equal to the amount Israel owes the United States for previous loans. Israel also receives special benefits that may not be available to other countries, such as the use of U.S. military assistance for research and development in the United States, the use of U.S. military assistance for military purchases in Israel, or receiving all its assistance in the first 30 days of the fiscal year rather than in 3 or 4 installments as other countries do.
    For FY1996, (P.L. 104-107) the United States provided Israel $1.2 billion in Economic Support Fund grants, $1.8 billion in Foreign Military Sales grants, $80 million in refugee settlement grants, $2 billion in loan guarantees for refugee settlement (Title VI, P.L. 102-391, October 6, 1992), $10 million in cooperative development grants for Israel’s foreign aid program, and one-half of the $7 million regional cooperation assistance shared with Egypt. Similar amounts will be provided for FY1997.
    On March 14, 1996, President Clinton pledged an additional $100 million in anti- terrorism funds for Israel ($50 million of which was provided in the Omnibus Appropriations bill, P.L. 104-134), and on 28 April 1996, the President offered $200 million for deployment of the Israeli-built Arrow missile and $50 million for a laser anti-missile weapon.


    Somerville [MA] Divestment Project
    What are Israel Bonds?
    Israel Bonds are securities issued by Israel that are backed by the credit of the Government of Israel. According to a March 2005 report by the Congressional Research Service (CRS), “Israel is not economically self-sufficient, and relies on foreign assistance and borrowing to maintain its economy. Since 1976, Israel has been the largest annual recipient of U.S. foreign assistance, and is the largest cumulative recipient since World War II. In addition to U.S. assistance, it is estimated that Israel receives about $1 billion annually through philanthropy, an equal amount through short- and long- term commercial loans, and around $1 billion in Israel Bonds proceeds.” Money raised through the sale of the Bonds goes directly into Israel’s treasury.
    Are Israel Bonds good investments?
    Since none of the volunteers are economists, we can’t answer that question. All we can do is point to the latest ratings by the World Bank, which led economists in Business Data Israel (BDI) to conclude that “Israel is considered one of the riskiest places in the Western world, with an unstable, inefficient regime, low accountability, a relatively high rate of state corruption and poor law enforcement”. BDI economists noted that the low indices hamper foreign investment, raise risk premiums on financial markets and hurt resource allocation.” However, whether good or bad investments, to us the point is socially responsible investing.


    News from Jerusalem
    News from Jerusalem is operated by Bible believing Christians here in Jerusalem, Israel. Prophecy unfolding today from the heart of the conflict presented from the epicenter in a biblically correct (unbiased) report – News from Jerusalem is your connection to the land of Israel for days when information from a biblical perspective is essential to our survival.
    Amid recession, Americans eye aliya
    Ely Cole, a 25-year-old accountant from Columbus, Ohio, says he always dreamed of moving to Israel but worried about leaving his high-paying New York job before he’d established a career for himself.
    Now, that job is gone, and Cole is on his way to the Jewish state, joining a wave of returning Israelis and new immigrants fleeing the dismal economic outlook in the US.


    Emet News Service
    “Our right to this land, in its entirety, is steadfast inalienable and eternal. And until the coming of the Great Redemption, we shall never yield this historic right.” David Ben Gurion, former Prime Minister
    6. US Economic Situation Yields Increase in Aliyah
    Due to the economic crisis in the United States, many Jews who postponed making aliyah (immigration to Israel) are now seriously considering it, especially those who have recently lost their jobs or businesses. The job losses, initially centered in the financial industry, are beginning to spread through the economy, touching everyone from lawyers to book publishers to independent business owners whose holiday sales expectations have nearly evaporated. When pressed what opportunities they hoped to find in Israel, considering that the economic crisis is also affecting Israel and could get worse there, they did not mention specific job plans but expressed optimism that something would work out. The Jewish Agency and the Absorption Ministry have responded with a series of employment conferences across North America, set to begin Sunday in New York, promoting tax incentives for new immigrants and returning Israelis, education grants and job opportunities. Additional job fairs will be held in Boston, Chicago, Toronto, San Francisco, Miami, Washington and Montreal. The agency has seen a sharp uptick in queries since September, when the failure of Lehman Brothers triggered a chain of events that has left the US economy frozen.
    “As the shepherd seeks his flock, in the day when there is darkness and clouds, in the midst of the sheep that are separated, so will I seek out My sheep, and I will bring them back from every place where they were scattered in the day of clouds and darkness.” (Ezekiel 34:12) [Jerusalem Post]

  10. If anyone wants a shred of a guarantee of non-censorship on the web, they should do like I did and get a business-oriented host (I have WestHost out of Utah). The service is reasonable. And the Mormons include their own special Book with the Bible, plus the entire U.S. Constitution. Which happens to contain that First Ammendment…

  11. RobG

    Wow, great read over at Denninger:

    * The Housing Bubble: In 2007 the limit of this insanity was reached, the “last sucker” was found, and the pyramid collapsed as these so-called “mortgages” were exposed for what they really were – a serial-refinancing scheme designed to strip equity and transfer it to the bankers. The entire scheme collapsed and along with it our markets and economy.
    * The Stock and Credit Markets Generally. The Internet Bubble and Housing Bubble were the externally-visible symptoms of what was going on behind the scenes. The S&P 500 was posting “earnings” of more than $100 a share, but those “earnings” were a phantom. “Private Equity” and “Hedge Funds” were buying companies and essentially flipping them using debt backed by bank credit that was, like in the housing and Internet markets, backed by nothing other than vapor. Commercial Real Estate deals were being done at “cap rates” that were unbelievably optimistic, essentially not even paying the interest due, banking on the ability to roll the debt as “property values never go down.” Anyone remember “M&A Monday” on CNBC through all of 2006 and the spring and summer of 2007? What was that all about, if not flipping companies like speculators flipped houses?
    * Our Government’s Finances. We put into place Social Security and Medicare, two schemes that have accumulated fifty three trillion dollars in forward liabilities with zero in assets behind them. These liabilities are growing at a rate several times that of GDP. Then, as if this wasn’t enough, we passed “Medicare Part D” which has now added even more to the liability side of the balance sheet but which was and is totally unfunded by assets. This both can and will collapse just as did the Housing and Internet bubbles. Our government has been spending money it doesn’t (and never will) have for a very long time, but we have now entered the phase (just like the Internet and Housing Bubbles) where debt is increasing at an exponential rate compared to assets. We have, in the last year, nearly doubled the outstanding public debt commitments on the United States ($8 trillion added against a $10 trillion base), with the previous $10 trillion itself having doubled from $5 trillion in the space of just a bit more than a decade.

    There are many who say that our government debt-bubble will not collapse, and they list a whole host of reasons.

    Why would you believe that?

    Can you show, through history, one speculative bubble that has not popped?

    Can you find one time – just once – that such a bubble was able to be grown without limit?

    Simply put: No.

    Americans have, as a nation, become fat, dumb, “entitled” and lazy.

    Our Declaration of Independence lists the following rights that are endowed to us by our creator:

    Life, Liberty and the pursuit of Happiness.

    Note that nowhere in this list are:

    * Free anything, including wealth, food, health care, shelter or even a job.
    * Happiness itself (only the right to pursue, but not achieve, happiness is endowed)

    America as a nation was founded by a group of rugged individuals who understood all of this. They were not necessarily religious, although they believed in divine providence; that is, that “from somewhere more powerful than they their original seed was formed.” Some believed that source was a Christian God, some believed it to be the earth herself, some believed it to be some vague spiritual force.

    But all believed and understood that the fundamental rights that flowed from that original creation did not involve deceit, trickery or theft, irrespective of how it was accomplished.

  12. RobG

    And here is the link: link

  13. DrKrbyLuv

    Madoff is a classical case for the RICO statutes. He fits the intended criminal profile like a well tailored suit.
    Like any well connected criminal, he shouldn’t be out on bail where he is free to cut deals and make threats.
    I think part of the hoopla with Madoff is to bury the much bigger Ponzi story – Rubin at CitiBank.

  14. PLovering

    The Zionist criminal structure relies on its tax-exempt “religious” network of schools and charities.

  15. OC

    On the subject of Madoff’s version of Ponzi scheme – seems like it is a hybrid in nature and has been running for 20 years…most Ponzi scheme have a lifespan of 2 -3 yrs max.

    Kinda of like the scam run by the Treasury and the Fed…on the rest of the world and they are slowing waking up….Oops

  16. David

    RobG: Did you really read this article?!!!

    The article you posted equates social security and medicare with government borrowing for senseless wars and pork barrel expenditures and other questionable government spending.

    Well, I paid into social security for all of my working career with money I EARNED every damned payday with my value-added labor…and our politicians kept robbing this fund as if it were free money.

    The author of this article wants to equate government social security obligations to Americans with other government debts that the government will have to default on, but this just isn’t the case for Social Security.

    Social Security wasn’t voluntary for me or anyone else who paid into the fund. It was required, and now that I’m old, I want my damned money back!

    Social Security and Medicare are two of the greatest things that have ever happened for all Americans…and I get so damned tired of these stupid, silly, smug little political pundits and writers trying to insinuate and rationalize why taking Social Security and Medicare away from Americans is a good idea.

    Damned, these are cold-hearted, selfish bastards. Perhaps, they should just pick up a pistol and a case of ammo and go around shooting old people. That method would cost them about ten cents a person to get rid of us old worn out, peasant work units…well mass burial or cremation would cost a few bucks more.

    I question. Were these selfish bastards even born from a woman? Because they certainly never knew a mother’s love, and seem incapable of love or compassion themselves…in other words, in my book, they are totally worthless human beings.

    The bastard who wrote that article also calls Americans fat, dumb and lazy. No, you stupid fuck, they are intentionally undereducated, malnourished by profit-driven corporations on chemicals, additives and greasy fats and they are broke…do you get that…BROKE! Because our corrupt financiers, bankers and leaders are busy stealing every damned dime of the national wealth they can get their fat little pig hands on.

    How dare this writer try to put all of the blame on all Americans…damn him.

    So..RobG… If you really think this is a great article, you can just take it and shove it–sideways. Love you man.

  17. nah

    i would have to agree with david… we work make money get taxed make purchases… if this system was fair workin=work out… unfortunately the guys who make the money have figured out that they like it… they like it more than its worth and they dont want to pay taxes ‘because all they do is pay taxes’… so theyve figured out that its not thair problem they will just destroy our credibility for as long as possible and not tell anyone… and as long as we complain ‘but not on tv’ there gunna be ok… AND we are so much more efficient as a economic model than when the health systems were created they most assuredly are viable… but theres no money, howd that happen assets=all the money…. o we gave it to retards, actually they took it the retards took it, well actually the retards changed the law and gambled it. SO the retards gambled our credibility away for so long they probably dont really know how to ballence the books… there retards and its been at LEAST 20yrs Id be suprised if they know how… SO i believe that we have the capability as a people to sustain ourselves whithout greedy retards ‘or at least quite a few less’
    think’ capatalizm gets a bad rap

  18. emsnews

    All my life, the right wingers have equated SS with war money spending. War money spending is often spent OVERSEAS and it is very destructive and it ONE WAY. SS spending nourishes the domestic economy. It is NOT money spent far away like the waste in the Iraq and even stupider, Afghanistan wars.

  19. Charlie x

    Yeah, the article loses credibility right off the bat when the speaker attributes the housing crash to “the last sucker being found”. Extremely childish conclusion, he should get out more, and then he would know like everyone here that the end of the Japanese carry trade was the actual culprit.
    He says that ‘Americans have, as a nation, become fat, dumb, “entitled” and lazy’.
    That’s essentially true, and we can infer from the last paragraph here that the speaker attributes this to an overall decline in spirituality leading to the “deceit, trickery or theft” which is basically paraphrasing what David is correctly complaining about.
    However, as the speaker says,

    Our Declaration of Independence lists the following rights that are endowed to us by our creator:

    Life, Liberty and the pursuit of Happiness.

    Note that nowhere in this list are:

    * Free anything, including wealth, food, health care, shelter or even a job.
    * Happiness itself (only the right to pursue, but not achieve, happiness is endowed)

    It is revealed that the speaker himself is guilty of the exact same “sin”, or decline in spirituality, that he attributes to the rest of us Americans: namely equating happiness with selfish materialism!
    BTW, there is a fallacy in the “cellphone/internet/[insert modern convenience here] is a luxury” type of argument that these so called “rugged individualists” like to throw out. Technically, they are correct, but from a pratical standpoint those who do not have regular access to, for example, better transportation and communication technology are at a serious disadvantage trying to compete and survive in our “modern” world; which arguably is a tragic reality in its own right, for a number of interesting reasons.

    Now, I am not just a bleeding heart, it is actually in people’s self interests to be concerned with the well being of our fellow citizens. People tend to forget about this until another empire falls and then we get more history and philosophy to be eventually disregarded by future civilizations.

  20. criticalcontrarian

    Elaine, talking about murder, it looks like the bankers are starting to drop like flies:
    HSBC banker found hanged in hotel:
    The Mail on Sunday reported Mr Schnor, who leaves a wife and two children, was found hanging by a belt, naked in a closet in his room. A Metropolitan Police spokesman said… “His death is being treated as non-suspicious.”
    I don’t know about you guys but if I were to commit suicide I wouldn’t do it naked, and worse with a belt hanging from a closet! That would be like drowning, not a good way to go. This one stinks.

  21. criticalcontrarian

    Also the scams are coming out of the woodwork: Buy-to-let fraud hits thousands:
    They fear thousands of people who sought to cash in on the buy-to-let dream during the boom years of 2004 to 2007 may turn out to have been victims of organised fraud.
    When it rains, it pours. The whole financial system has to be changed.

  22. emsnews

    Yes, the suicides of the ‘rich’ will rise. The illusion of wealth is at the heart of the matter. People confused debt with wealth. Hell, whole EMPIRES did this. More about that in a later posting.
    And the Madoff Affair continues to rage throughout the world. All those charities that passed funds from one to the other [we see a lot of that in the Clinton foundation money business!] will now have to reset their books and maybe, even return a lot of the loot to investors who were cheated by Madoff, on top of everything else!

  23. Dutch

    Yeah and the US Government (YOUR MONEY) is bailing out the Madoff 50 billion dollar ponzi scheme! Remember Obamas budget shrunk 50 billion! And it was announced that night that the gov was guarranting each investor 500,000! In a PONZI SCHEME! Think about it.

  24. emsnews

    Yup. Bribing our politicians pays off….if you are also socially connected to a larger circle of bribers.

  25. Van

    The 50 billion dollar question no one is asking–“Where’s the money?” The Boston Globe has had a few front page stories on it, but I can’t find “THE Question” (Where’s the money?) Here’s an email I sent the newspaper, to Casey Ross and Steven Syre–reporters

    “Hi Mr. Ross, or may I, Casey,

    I’m a new subscriber to the “Sunday Globe”. I read your article on “Madoff”, but I can’t help noticing that NO ONE is asking the 50 billion dollar question i.e., “Where’s the money?”. I read your whole article and way too much on the “victims” and not enough on “follow the money”. No one cares to guess or speculate or investigate what may have happened to it–that’s real journalism–NOT. Did “Madoff” buy a boat, a new car, bury it in his backyard? Like the “Enron” money, it just “disappeared”. Never heard another word about that story–so what if people lost their life savings. I’m starting to believe in magic–Money can “disappear”. Wait a minute I think it “reappeared”, there’s a “Quarter” behind my ear. In fairness to you, your not alone, everyone is NOT asking the question, “Where is the 50 billion dollars?”


    P.S. I sending a copy of this to your colleague Steven Syre, and “Happy Holidays”!” End

    Some (internet) info I read is the money went to Israel (with Israel’s blessing). This will be thier last big “finacial aid” package. Those people who lost big money will get it back via another goverment bailout. Those poor (Jewish) investors are crying that the SEC didn’t do thier job and demand compensation (I think they’ll get it)–That’s kind of what I “read”. So I’ll end where I began, “Where (the blank) is the money?”

  26. Van – I agree. Where is the money and is anybody in the “goofystream” media diligently following the trail to report the “true” story? So much has become so worthless these days….
    I’m also curious at how the $50 B figure was arrived at. Is it just from those suckas at the supposed bottom of the illusory computer-generated pyramid whom the “upper echelon” wanted to “cash out”. If so, then who knows how much more funds the remaining psuedo-pryramid holds. I wouldn’t want to be amongst those who are left cause when the bottom drops out the whole pyramid (kit a kaboodle) crashes to the ground violently. Gravity cannot be denied – don’t you think? My advice would be to jump off the pyramid while you still can.
    Conventional Pyramids suck cause most of the substance is stuck near the bottom holding everything else up. There are much better shapes to strive for I think.

  27. thecoyote

    The “Mafias” do vary a little from place to place. Years ago in San Francisco my father was competing for the job of Chief of Police. His main rival was a Catholic supported by the Roman Catholic Church and the Knights of Columbus. My father’s power base was the Masons. In the end it al came down to a struggle between to power elites. The Catholic mayor picked, guess who? It was an early education for me about power politics, and a pretty bitter lesson for my Father who had foolishly thought that the contest was about ability.

  28. Ability coupled with knowledge of history is not easy to overcome. Did you say you are from SF. Then perhaps you know Ms. Pelosi. Send her this message from me: The Buffalo are on the way.

  29. And Ms. Pelosi, I’ll say this to you personally. You are NO speaker of the house. You are a traitor in my mind!
    It happened once before by a lady from the land of Mejico. Sometimes we learn from the past.
    But, my lady, you forget. The People Choose.

  30. Mark my words if you care.

  31. emsnews

    How interesting, Coyote. I used to play hardball politics in NYC, the epitome of Mafioso politics. Honesty is actually a handicap.

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