Congress Votes For More Wars

Bank reforms stagger forwards like a drunk seeking booze at 5am on Sunday.  Congress can’t agree on anything Americans need or want but are nearly 100% in unison for anything Zionists want.  Ron Paul gives an excellent speech to an empty room, about how we are driving ourselves into a totally unnecessary war with Iran.  And China’s #3 destination for investment of its US trade profits is in Iran, #2 being the US.  We are selling off ourselves even as Iran sells off itself.  These embargoes are backfiring, badly.  


Robert Kuttner: Financial Reform at a Crossroads

On Thursday, there was an uncharacteristically fractious meeting of the Senate Democratic Caucus. On one side, leading progressives such as Maria Cantwell, Ted Kaufman, Dick Durbin, Byron Dorgan, and Jeff Merkley, argued that this was a moment to put forward floor amendments that would both strengthen the bill and force Republicans to take difficult votes either backing reforms or identifying themselves with Wall Street.


But the Banking Committee Chairman, Chris Dodd, was more inclined to try and strike deal over the weekend with his Republican counterpart, Richard Shelby, for a bipartisan bill. The price of this would be weaker provisions on derivatives, consumer protection, and on resolving failed large banks. The political price would be that progressives don’t get to offer floor amendments. Under Dodd’s scheme, which is favored by Obama’s legislative and economic advisers, the Senate would immediately vote to take up the bill, and would then vote cloture by a wide bipartisan margin. The bill — still a shell with details to be filled in later — would go directly to the House, where the House-passed bill would become the vehicle for the final measure.


ΩΩBy far and away, the major reforms that must happen is to reimpose all those nasty Great Depression rules that prevented megabanks from mixing investing and lending and the other financial games played this last decade with such abandon.  Secondly, the Derivatives Beast must be slain.  Totally.  We can’t let it exist since it is an open door invitation to create money to infinity in a very tricky and stupid way.  It is, above all the other games, the one that killed the Golden Goose.


ΩΩLast time I went to Congress, I was annoyed that many there had no idea what these derivative swap contracts were about.  The level of financial ignorance is startling but those who are knowledgeable tend to approve of these games because these schemes create the illusion of wealth.  Since a tiny handful of people get immensely rich playing these insane games, this seems to most politicians, who have to beg for bribes, a most excellent system to get money quickly so why stop it?


ΩΩThe GOP has tried very hard, recently, to paint themselves as virtuous in all matters concerning Wall Street but this is also an illusion. The recent story that SEC employees (one could assume they were males) spent valuable time surfing for porn rather than seeking criminals.  But then, the GOP ran the SEC in the run up to the collapse and the heads of the SEC set up by Bush and Cheney went out of their way to undermine the organization.  Not that Clinton was an angel, the very same advisors (minus Volcker) who ran Clinton’s economic policies are running Obama’s policies today. And they also turned a pretty blind eye to the tricks and schemes cooked up by Wall Street gamblers.


ΩΩThe fact remains, both parties are corrupted by this funny money and cleaning house means imposing severe campaign restrictions on raising money.  This emphatically includes stopping alien organizations like Toyota or AIPAC from bribing Congress as we shall see in the news today.


US Senate leader: Iran is ‘festering sore’ – Yahoo! News

The House of Representatives voted 403-11 to appoint “conferees” to huddle with their Senate counterparts and meld the two chambers’ rival versions of sanctions legislation into one compromise bill for passage within weeks.


ΩΩThe House and Senate have to fight like fiends and water down any bills that might be of any use to Americans.  But when it comes to Israel, thanks to AIPAC, anything and everything Bibi wants, Bibi gets.  He spent much of this last month, slapping Obama repeatedly across the face over the issue of settlers in West Jerusalem.  He even made a stupid offer to ‘give’ the native Palestinians ‘60%’ of the West Bank, not 100%.  Congress stood up and applauded these moves and if anyone thinks that Obama is getting more street creds in the world this last month due to Congress dragging through a very poor healthcare reform bill, this is sheer insanity.  Obama is losing power at an astonishing rate.


ΩΩEven as Iraq is blowing up in our faces and has no government after a flawed election, even as Afghanistan grows more and more difficult to run as the President there hammers us and corruption soars, the US Congress can’t resist pouring gallons of high octane gas on these fires.  Naturally, the Zionists want a war with Iran and despite our growing economic problems and hisses from Congress that Americans shouldn’t expect to be saved or helped in this depression due to lack of funds, there seems to be infinite funds for Israel’s objectives.


Ron Paul Warns Congress on Iran: A Vote For Sanctions is a Vote For War

Mr. Speaker, I rise in opposition to this motion to instruct House conferees on HR 2194, the Comprehensive Iran Sanctions, Accountability and Divestment Act, and I rise in strong opposition again to the underlying bill and to its Senate version as well. I object to this entire push for war on Iran, however it is disguised. Listening to the debate on the Floor on this motion and the underlying bill it feels as if we are back in 2002 all over again: the same falsehoods and distortions used to push the United States into a disastrous and unnecessary one trillion dollar war on Iraq are being trotted out again to lead us to what will likely be an even more disastrous and costly war on Iran. The parallels are astonishing.


We hear war advocates today on the Floor scare-mongering about reports that in one year Iran will have missiles that can hit the United States. Where have we heard this bombast before? Anyone remember the claims that Iraqi drones were going to fly over the United States and attack us? These “drones” ended up being pure propaganda – the UN chief weapons inspector concluded in 2004 that there was no evidence that Saddam Hussein had ever developed unpiloted drones for use on enemy targets. Of course by then the propagandists had gotten their war so the truth did not matter much.


We hear war advocates on the floor today arguing that we cannot afford to sit around and wait for Iran to detonate a nuclear weapon. Where have we heard this before? Anyone remember then-Secretary of State Condoleeza Rice’s oft-repeated quip about Iraq: that we cannot wait for the smoking gun to appear as a mushroom cloud.


We need to see all this for what it is: Propaganda to speed us to war against Iran for the benefit of special interests.


ΩΩThe main industrial system left in our country happens to be the military procurement system.  This system is also one of our biggest streams of value-added exports.  Unlike civilian industrial output systems, all military systems are great devourers of wealth.  All internal sales to the producer eat into public revenues and have to be paid for via taxes or rising debt.  Generally speaking, shoveling all military spending into debt is the most painless way to hide these negative money flows.


ΩΩWhen I was at the town meeting in Berlin to discuss how to save our dying town, when I talked about how our Federal debt is killing our town because we peddle this debt to foreign powers.  I was assured by everyone that we need our military spending to provide jobs and bring money to our region.  Of course, like a starving man eating his own legs, the US has turned military waste into a major economic element that can’t be stopped or we will have no industrial base at all.


ΩΩThe price Americans pay for our military empire is very steep.  18 veterans commit suicide each day is a recent headline about a terrible problem: these military spending schemes which are so very popular and make non-fighting people very, very rich is destroying the lives of people who are, due to poverty and lack of alternative employment, being pulled relentlessly into this perpetual motion killing machine.  One of this army of anonymous victims of US Daddy Warbucks economies is this guy:  Veteran, 27, Kills Self on VA Hospital Steps.  He briefly made the news because of the spectacular way he died.


ΩΩJust hours after being released from the psychiatric wing, this young vet shot himself twice in the head.  Not once but twice!  Just as workers die giving us energy so we can relax in comfort, many US jobs depend on sending fellow workers to die or go insane in stupid, useless and dangerous wars.


ΩΩThe diplomatic solutions available to us are crushed by Congress since the Zionists don’t want peace, they want Greater Israel and don’t care if this destroys Americans: we will be forced down this road to ruin because of religious manias.  Exactly the thing our Founding Fathers feared the most.  Many of the colonists came over originally due to religious wars and persecutions in Europe and they looked back in history and saw that the worst wars are religious wars and thus, figured they would avoid this by separating Church and State.  Alas, they didn’t know how easily Congress could be bribed into religious wars.


ΩΩNow on to the real war, the economic struggle for power.  The atheists of China are winning this war, hands down.  The US doesn’t have a chance.  We did launch a super secret (HAHAHA—I’m certain Israel and China have a very good idea what is going on) military robot killing machine into space.  The militarization of space continues and this is a fatal game to play but the US military system insists on this since we are preparing for WWIII, aka, the Apocalypse.


ΩΩMeanwhile, China rubs our nose in the muck in the economic arena. As the US spends its days selling off all our assets, systems and commodities while deindustrializing, China is buying, buying and buying some more.


Tracking Where China Invests –

Energy investments took the prime spot, with more than $70 billion invested from 2005 through 2009. But China has been interested almost as much in metals, especially iron ore, investing more than $60 billion. The other main area is finance and real estate, at over $30 billion.


China’s hefty investments in sub-Saharan Africa have received deserved attention, but its investment in Latin America has been overblown by some. One reason is a common event in bilateral commercial transactions–grand announcements that never come to fruition. In mid-April Venezuela proclaimed a $20 billion oil-for-loans deal with China, but Caracas’ track record in this area encourages skepticism. China has little investment in the Arab world, which is perhaps surprising in light of its focus on energy, but it has sizable engineering and construction contracts there. Australia, at $30 billion, is the single biggest draw for Chinese investment. The U.S. is second at $21 billion, Iran third at $11 billion.


ΩΩThis is really funny!  Australia is booming right now due to China buying up Australia.  Goody gum drops!  Ahem.  And China is still buying up the US, too.  Funny, I didn’t know Iran was #3.  US attempts at strangling Iran are being twarted as Iran sells itself to China.  As China’s investments there grow, US attempts at destroying the economy there fade.  Of course, the embargo being imposed will be aimed at stopping imports into Iran, not exports because China won’t let us stop exports.  On the other hand, stopping imports means Iran will not run a trade deficit!!!!


ΩΩHAHAHA…um, the US and UK are both sinking in a sea of trade deficit red ink while Iran is forced to be solvent.  Such ironies is common in history.  China doesn’t need to invest in other Arab oil nations, they are the working arm of these nations.  That is, they get money pouring back into China via contracts, not purchases.  This suits China just fine.  They don’t need to buy Saudi oil wells: the output will eventually flow to China thanks to Israel forcing the EU and US into supporting insane religious wars against Muslims.


ΩΩNow, we wander back to the issue of our collapsing economic system.  Since Nixon cut the gold standard, the number of bank in the US have fallen by 90% and are falling further and further.  The concept of community banking has collapsed.  Instead, a handful of megabanks run things and they are hostile, not building but dumping debt on all and sundry.  Now, due to a collapse in capital, they aren’t lending and we got a repeat of the Great Depression thanks to them.  And these megabanks are fighting reforms, tooth and claw.


Larry Summers Defends Megabanks, Says Too Many Small Banks Make U.S. ‘Less Stable’

In an interview with “PBS NewsHour”, Lawrence H. Summers, director of the White House’s National Economic Council, said that breaking up megabanks would hurt the economy.


“Most observers who study — who study this believe that to try to break banks up into a lot of little pieces would hurt our ability to serve large companies and hurt the competitiveness of the United States,” Summers said in response to a question about whether the U.S. should go further in trying to end Too Big To Fail by limiting the size of banks.


Federal Reserve Bank of Kansas City President Thomas M. Hoenig calls the idea that the U.S. needs megabanks to compete globally a “fantasy.”


ΩΩThere has been a global race to see who could amass the most debt.  Greece seems to be racing ahead.  Iceland is hard to beat.  Ireland tried its best, riding its own thoroughbred into the ground.  What do these ‘large companies’ want, anyway?  Well, people playing the worthless and odious ‘take over’ game need trillions of easy lending so they can dump debt on various corporations and businesses!  So we had a flood of totally useless debts which had to be dealt with via firing lots of staff and reducing an industry with thousands of workers to hundreds of workers or better still, offshoring jobs to pay for the debts.


ΩΩThis is what is killing the Golden Goose of modern industrial societies and is a top reason for breaking up these megabanks as fast as possible, not saving them!


The Associated Press: Candidate for Obama’s old US Senate seat undaunted

Illinois Treasurer Alexi Giannoulias appears undaunted by the shuttering of his family’s bank, saying his bid to keep President Barack Obama’s old Senate seat in Democratic hands will move forward with renewed purpose. Regulators shut down Broadway Bank on Friday when it became clear that the failing institution would not raise about $85 million in new capital by a Monday deadline.


ΩΩThis is insane.  This man should not go to Congress.  We have enough inept, dangerous and stupid people there already.  Last of all today, I found out why plywood is being bid upwards by commodity traders: the earthquake in Chile.  Thanks to free trade, many US mills have been shuttered and instead, we import a lot of our building materials we could easily produce, from distant lands like Chile.


Building materials show sharp, recent rise in prices |

“What you have is the people who are left are having to make a profit or go out of business because it’s going to take profit to get capital,” Magruder said. “Quite frankly, America is in a very perilous position now. If we have any supply interruptions, say bad tornadoes or a major hurricane, we will have significant shortages.”


One example, Magruder said, is the recent earthquake in Chile, which provides 27 percent of U.S. molding and sanded plywoods.


“That’s roughly 2,000 containers a month coming from Chile,” Magruder said. “It’s all wiped out. Mills are having to switch production. We have seen in the last two weeks increases from 10 to 25 percent in molding and sanded plywood and there’s a prediction of shortages and even higher prices.” Magruder said the international lumber market has been impacted by Chinese demand.


“The Chinese have discovered buildings constructed with wood fail significantly less during earthquakes,” Magruder said. “They have become a major buyer of Canadian spruce, which is a main provider to the U.S.”


ΩΩThe recent rash of earthquakes has roiled plywood markets.  And yes, China will replace destroyed buildings with plywood ones.  And the US should have been the supply center for all of this but isn’t.  We import stuff we could make, ourselves.  And instead of making this and having some control over events and benefiting from world needs for more plywood, we see our staggering housing market collapse again due to free trade.  There are a thousand reasons why a nation much preserve native industries.  I can’t think of one reason for destroying these.

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Filed under Free Trade, Politics, religion, space, war and peace

9 responses to “Congress Votes For More Wars

  1. Gus

    Goldman at the gates!

    Looting and Plundering the Widows and Orphans.
    It’s financial sexual abuse!

    “I’ve managed to sell a few abacus bonds to widows and orphans that I ran into at the airport, apparently these Belgians adore” the complex investments, Tourre wrote.

  2. vengeur

    I love that part about “Iran being a festering sore”. Hey, we’ve got two festering puss filled sores already in Irak and Afhanistan. Lets see if we can cause another one!

  3. Aussie

    Re: Congress Votes For More Wars

    It seems the majority of Main Street continues to support the coercive US foreign policy pro-active world wide?
    Perhaps, the support continues because lower echelon military personnel come from the minority of rural and poor Americans and the average citizen is only vaguely aware of the true costs and supports hegemony ideology?

    Thus Congress and the military-security-industrial complex prevail because the majority in Main Street is captive to its myths and ideology?

    I suggest you recent comment that on how US socio-economic events are similar to happenings in the Weimar Republic is a reminder of the dangerous mood in the US.
    History shows fearful and failing democracies do become fascist when the populace loses faith and confidence and the “ruling elite” fail to lead and rule well.

    Somewhere, I read the members of US elected politicians in Washington HAVE LESS TURNOVER than the Moscow politburo during the Soviet era.
    I am struck by the number of US political dynasties with generational presence in the US Senate and Congress in the context of Republic with claims of an elective democracy by popular vote?

    The US is still building expensive military toys to “police the world” and domestic anger is being displaced and misdirected to avoid accepting personal responsibilities such as:
    • The Arizona legislation scapegoat “Aliens”;
    • “Tea bagger” anger;
    • Congress blaming China for “tempting US into taking on unsustainable debts”;
    • Prospect of “mad dog” Republicans gaining power in Washington next year;
    • Plutocracy and Crony Capitalism interests dominate national interest;
    • The pervasive descriptive “Warrior” culture used to describe soldiers etc.
    • Witness the growing populist anger towards China and Washington etc.

    I am afraid the prospects of a repeat “French Revolution” that kick started our Era of Enlightenment and your “constitution” is less likely.
    Instead we will end up with an Authoritarian Republic as in the last stages of the Roman Empire – existing Washington public architecture is very Roman in its grandeur.

    Increasingly, I am touched by the sense of despair and insightful outrage expressed by your blogs and reader discourse.

    Unfortunately, the same general malaise can be seen in most western countries except the “warrior culture”.

    I hope my fears are only simple delusions.

  4. nah

    Federal Reserve Bank of Kansas City President Thomas M. Hoenig calls the idea that the U.S. needs megabanks to compete globally a “fantasy.”
    In an interview with “PBS NewsHour”, Lawrence H. Summers, director of the White House’s National Economic Council, said that breaking up megabanks would hurt the economy.
    how long until the peter princapled bankers and politicians wake up and realize everyone thinks they are robbing the people to bonus themselves… laundering our credit into cash paydays
    imean at some point even a retard realizes that being different is not super important…
    the systems that reward mega-ignorance are not finely tuned… stupid explanations and childish viewpoints just dont end up with the big rewards in society/civilization
    im happy you will hang out with me

  5. DeVaul

    “I hope my fears are only simple delusions.”

    No, I’d say they are fairly accurate.

    My disillusionment began when I was just 16 years old. A friend and I had been selected from our small high school in Eastern Kentucky to go to Washington and see first hand how our “democracy” works. I will say this: nothing beats first hand knowledge.

    During our meeting with Representative Carl Perkins, he actually dozed off while talking to us in his office and his aide continued speaking for him right from mid-sentence, as if nothing had happened. My friend and I looked at each other in total astonishment. How old was this man, and what was he doing in office?

    We later learned he had been in office continually since the end of WWII — 35 years. For us, that seemed like ancient history. We could hardly wrap our heads around it.

    It was the same with all the others. We also watched senators give speeches to an empty chamber, where the Founding Fathers once sat. There is nothing like watching someone talk to no one where our country was born to let you know that civics class was a cruel and malignant waste of your precious youth — something you can never get back.

    Our country has been on cruise control for over a hundred and fifty years now. At some point, the batteries will die.


    ELAINE: I beat you on this one! Almost from the founding of the State of Arizona at the turn of the century to my own life, one of our Senators was as old as Noah’s Ark. Carl Hayden sat from 1927-1969. 42 years on his throne! 56 years in Congress in all. He lived to be nearly 100 years old.

  6. Paul S

    “US elected politicians in Washington HAVE LESS TURNOVER than the Moscow politburo during the Soviet era.” Yes, That’s true. This is why BOTH political parties fight the inclusion of third and fourth parties onto election ballots tooth, fang and claw. The sleazy Bush family is probably a prime example of corrupt, self-servers who masqueraade as public servants, but there are others. Note how the US government can NOT get rid of the likes of James Baker III. Baker can be a lawyer for Osama bin Laden, Baker can shill for Big Oil, but Baker is a US expert on the Middle East. Others who have been around forever but shouldn’t: Donald Rumsfeld, Dick Cheney, Alan Greenspan, Robert Rubin, Phil Gramm. Lots more would make the list. It doesn’t seem to matter who corrupt or incompetent the US ruling class is, they always find a way to come back. No amount of failure gets rid of these people.

  7. DeVaul

    “ELAINE: I beat you on this one! ”

    Well, according to some conservative writer, a one Senator Byrd of West Virginia sat in office for 57 years straight, so he may have beat us all.

    We are talking about men here who have sat on their thrones (good analogy!) for half a century or more. The Founding Fathers could not even contemplate such a thing. At that time, most kings did not even live that long, much less rule for 50 years!

    It is ridiculous to think that these men will change anything at all. They are sociopaths for sure and have way too much to lose, so even talking to them is a waste of time.

    They died long ago.

  8. emsnews

    I couldn’t beat that!

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