BBC HardTalk on September 18, 2008 with Stephen Sackur, featured guest was Georgia's tie-eating President Mikhiel Saakashvili. Sackur cut him no slack and The Mick screwed up. He frankly came across like a babbling moron. 

He admitted that the hostilities in Georgia started on August 7 and Georgia opened fired on South Ossetia because quote "Russia was invading Georgia from North Ossetia" in the early hours of August 8.  In FACT, Russia did not shoot first, Georgia and their US, Israel and Ukraine allies did.

What the world is hearing from the US media is a gross lie. The US started the hostilities via its sock-puppet zionist government in Georgia.

The Mick is still pleading his case that Abkhazia and South Ossetia have no right to vote for their independence from Georgia.  He failed...Sackur did not buy it.

The Zionist Jews are now pondering their fate as the West declines in power. They already know that the Islamic world, Russia and China do not like them at all, and with good cause.  Most nations have no intentions of being ruled by the mindset of a piss ant corrupt little mideast 'democracy' that represents one of the smallest minorities on this planet...a total of around 15 million out of  6.5 billion. The US and UK are about the only major nations that seem to have bought off on that stupidity...because they are owned and controlled by it.

Even in the US and Europe the vast majority of people are fed up with the sleaze and endless scams and fiascos Zionists and their Zionist banksters keep putting forth to screw over mankind. The entire world is watching the meltdown of their latest Ponzi Scheme right now.

http://www.ynetnews.com/articles/0,7340,L-3598968,00.html

Sarah Palin has been 'disinvited' to the Jew sponsored anti-Iran rally at the UN to drum up support for another unneeded war. It is not about her support of Israel. It is about the votes she would take away from Barky because he is hemorrhaging votes right now and might bleed to death before November 4.

http://www.jta.org/cgi-bin/iowa/breaking/110433.html

Now we have Wachovia, the 4th largest US commercial bank, in negotiations with Morgan Stanley (Top 5 Wall Street) for a merger to head off the global economic tsunami. The 'assets and liabilities' of Wall Street are sort of like a steaming hot pile of cow dung on a cold winter morning.  There is a reason, read on.

China seems to have an interest in buying a 49% stake in Morgan Stanley and thanks to US Wal-Mart shoppers they have the money to buy it all. In fact, based on real value China could buy out all of the majors on Wall Street if they so wished.

The US government nationalized Fanny Mae and Freddie Mac because the fraud of the US housing market is so glaring they had no other choice. That was a $3 to $4 trillion liability to the US that most US citizens simply could not and cannot fathom. It was the backbone of the US housing fraud...and made things look all rosy and hunky-dory in America.  

I admit there are days when I wish I did not have the experience and skill sets I am fortunate to possess.  However, I am pragmatic and realize that everything happens for a reason. Even in my nanotechnology business, I have been blessed by having front line battle experience that serves me well in playing a role in helping move this new scientific paradigm into the markets - and mankind's future as well.  Having had my offices in DC for 7 years, having 12 years experience with three of the Wall Street majors, and international experience in fiber optics networks, I have come across some unusual knowledge that will be shared with readers in this essay. 

This current financial crisis has an origin based both on greed and yet more failed US policies. It is all about the Wealthy Elite designing schemes, DC changing policies to aid and abet those schemes, and collapsing more and more wealth into fewer hands. Those are the 'hands' that finance the big political elections while Americans think they can remain asleep for 2 or 4 years and then decide who to vote for in the next 'selection'. 

Americans do not seem to realize their government has been bought, long ago, and if they want it back they have to ante up to the battle rather than send email or site commentaries griping about how bad things are.

The SEC has just come out and banned naked shorting on stocks due to the financial calamity that is building by the day. Central Banks are being forced to pour hundreds of billions into the global markets to shore up the dyke...not unlike the fabled little Dutch Boy with all of his fingers plugging leaks.  The banksters and gangsters are running out of fingers and toes to play little Dutch Boy.

http://www.sec.gov/news/press/2008/2008-204.htm

That move by the SEC is only about 12 years past due and Americans are about $4 trillion poorer than they would have been had SEC cut off this illegal activity long ago.

If you missed my essay on George Soros and his role in naked shorting, the articles are posted at the bottom of the link. He is not mentioned by name but I know from firsthand experience that it was the Soros Naked Shorting Chop Shops that got hammered in Operation Bermuda Shorts. That is why Soros hates George Bush. Bush cost him billions while the Bush Buddies in Texas were making billions doing the same scam on investors.

http://www.rense.com/general82/euciac.htm

It is not hard to figure out. Soros wanted those pipelines across Georgia and Ukraine to Europe but BushCo wanted the same pipelines. To pay for his endless attempts to manipulate, Soros has an army of market whores who rip off unsuspecting investors in the capital and foreign currency markets.

Of course, those Central Banks are not lifting a finger to make sure you or any American remains afloat in these huge government bailouts of public companies. Only the Elite Insiders are getting these gigantic multi-billion bridge 'loans' so they can survive another day to be part of the US hegemony in all things; energy, oil, financial, war, more Wall Street frauds, more dot.com, telecom and banking scams, etc.

The next big Wall Street hustle on the horizon is nanotechnology. That is why Wall Street will not be doing any business with my company.  I do not trust them or their biggest clients at all.  AIG is one of the biggest market whores and manipulators, and they are taking the blows they well deserve.  They are a major pipeline of largesse to Israel - that is why they got the $85 billion 'bailout' and Bear Stearns and Lehman and Merrill Lynch were left flapping in the breeze.

Those who broke the law and invented the scams are getting the bailouts for helping the US to keep its phony house of cards propped up. Those who busted their ass and worked hard to have a home, job, etc are getting no bailouts.  Nothing.  

Recall the dot.com calamities. That was a US strategy to use its overall capital advantage to create companies, many of which had no product, no relevance, and no customer service. A new word for the lexicon was invented for the process: 'vaporware'. A considerable percentage of the dot.coms had no purpose whatsoever to exist but to provide Wall Street underwriting opportunities, sucker people out of their money, and lay the ground work for a global telecom boom. IT needs ISP and telecom connectivity. Get it? 

The US intended to control that telecom boom as well and the need for Internet routers, new wireless services, cellular, etc.

The alleged Clinton $1 trillion surplus was also vaporware because when the sheer level of fraud set in, the companies collapsed and the entire foundation of that projected surplus evaporated like a puff of smoke in the wind. That 'surplus' had to be marked to market and ­ poof, the alleged surplus was gone but not until after the elite insiders had lined their pockets with about $1 trillion that used to belong to you and others like you. On the contrary it was a $1 trillion transfer of wealth scheme right out of your pockets and into theirs. I was there and fought that colossal fraud on small investors the best I could.  A lot of us tried, but were not successful.

Go back a little further than that. Recall the S&L crisis that actually started in my home town of Little Rock, AR in 1984. The first big S&L that failed was First South and before everything was said and done that FSLIC takeover tanked 48 of the 112 small and large S&L institutions in my home state.  As a result, Arkansas slipped into an economic black hole for about 6 years due to that fiasco.

Part of the post S&L fiasco saw Nations Bank of Charlotte, NC go on a national buying spree to build its empire. That feeding binge included MBank in Texas, Boatman's in St Louis and Worthen Bank in Little Rock, AR and many others. Get it?  This all happened in my back yard and I knew the Worthen Bank people well and banked there until it was taken over by the Stephens, Inc investment banking family in Little Rock, AR.  That was when Stephens, Clinton and Hillary's Rose Law firm got too close to my business to suit me.

Now we have seen Bear Stearns, Merrill Lynch and Lehman Brothers cease to exist, gobbled up by the financial giants that are not in trouble, yet. Bank of America just ate Merrill Lynch. Ever since Stephens bought out Worthen in a scam that is too involved to address in this essay, they have stayed in the kitty and are now major shareholders in BOA and now, Merrill Lynch. Get it?

Yet to come home to roost is the $3 to $4 trillion in credit card debt that Americans have racked up to both survive and to support the US government 'Consumer America' plan. Even as the current subprime mortgage scandal and the credit crunch have played out, yet to come are other huge catastrophes in the form of credit cards and the mortgage crisis extending to the 'wealthy' in those big mansions...many of which have no equity at all. Low rate, interest only loans do not build equity, they just provide a luxurious home for a while until the wheels fall off the wagon.

Now jump forward past the S&L crisis, the dot.com frauds to the telecom debacle. Remember that? Investment banks around the world, mostly driven by Wall Street, created 3,400 new companies to compete with the LECs, or local exchange carriers. Trillions of dollars were lured from the investing public to finance the construction of these new 'next best things' only to see their investments turn to $0 when the companies filed for bankruptcy and the shareholders got nothing.

Morgan Stanley was the originator of most of the high-yield bonds that were used to push most of those 3,400 new telecom and Internet providers. In many bankruptcies, they were the chair of the creditors committee due to holding the largest debt or as representative of the Secured Creditors they had sold that debt. 

Who wound up with all of those full and inflated price assets for 1 to 5 cents on the dollar? Mostly the telecom giants AT&T (SBC) and Verizon wound up with those assets on the cheap while investors took another $1 trillion loss. These new telecoms were highly touted as CLECs (competitive local exchange carriers), ISP assets, wireless Internet, cellular and even convergence of the Internet and VoIP over fiber optics as normal telecom services. 

There was a time when the Internet had to connect to the telecoms and was solely dependent on the telecoms.  Now the reverse is true and the telecoms have to connect to the Internet to survive and remain competitive.  They cannot shut down the Internet without shutting down telecom communications.  VoIP has been how many of them provide long-haul and international services and the customers do not even know it.

It was all marketed as deregulation to compete with the AT&T, Verizon (former Bell Atlantic and NYTEL), SBC, BellSouth, Pacific Bell, etc. Getting the picture yet?

The same companies who were targeted with the deregulation and competition now control most of those failed assets, built with close to $1 trillion out of 'our pockets' and bought for pennies on the dollar. It all collapsed back into fewer and fewer hands. Get it?

The biggest telecom fraud of all was Global Crossing. That network was valued by Wall Street at $20 billion when all they had were two leased fiber optic lines from the US to Europe. Did you catch that? They had built nothing and were valued at $20 billion by Wall Street.

Why? Read on.

I first came across the sheer level of Wall Street scams in a telecom named Williams Communications Group of Tulsa, OK. They set up an Austrian entity, registered it in the Cayman Islands and stripped out all of the key assets of the company into an offshore SPE (special purpose entity, just like ENRON) that was outside of US law. They willfully and premeditatedly screwed thousands of investors out of $2.2 billion of their hard earned money and savings.

That was structured as what they call CLO and CDO, or collateralized loan obligations and collateralized debt obligations. It was parked offshore outside of the reach of the US bankruptcy court. The WCG company waited 365.25 days +1 hour to file for Chapter 11 knowing that the US bankruptcy court cannot investigate fraud that happened more than 1 year prior to the exact time of filing the bankruptcy petition. That is almost identical to how they are doing the subprime mortgages that are now shredding the US housing market.

When our focus turned to Global Crossing, we learned very quickly that the original name of Global Crossing (Bermuda offshore) was 'GC Partners'. Now that sounds like a no big deal issue, but it goes far deeper. GC Partners was one of the named defendants in the Michael Milken case that sent him to prison and fined the remaining scam artists $1.3 billion. Most of them never paid their fines and kept right on plundering America. Milken and others pushed hard for telecom deregulation because of the trillions of dollars needed to build the networks and billions to be made, for the right parties.

The reason I am citing this is because these were for the most part Zionist Jews who think they do not have to obey US law. They believe they are under the Talmudic Law of Zionism, not our laws. Securities fraud by these people is exactly what they have leaned on Washington DC about, or Israel intervenes to protect these thugs like they did for Michael Milken and Gary Winnick - since they were major cash donors to pet projects in Zionist Israel.

Global Crossing was fluffed up from $20 billion with only 2 leased fiber links to the EU to over $56 billion lured in from unsuspecting investors. I was on this battle line during the Chapter 11 bankruptcy in the Southern District of NY Bankruptcy Court. I did not invest a single dollar in Global Crossing because when I did my due diligence I found that there were 27 former Milken co-defendants involved in it.

What were they after?

Global Crossing was designed to be a network that interconnected 227 main financial centers in the world. They got the money to build it from the same people they intended to screw out of their investments, people like you.

The network was not just telecom; it was also 'trading networks'.

I went head-to-head with the likes of Goldman Sachs, JPMorgan Chase, Citigroup and others who were 'secured creditors' in this Global Crossing bankruptcy and their bankruptcy attorneys. I met with Morgan Stanley on numerous occasions and had conference calls with them.

What did the Wall Street titans want?

They wanted a proprietary network that was 'faster' than the offshore competition so that they could plunder the world under US financial hegemony and terrorism. We found Global Crossing customers included the CIA, DoD, US and UK embassies, etc. The banks were already using the network to spread US financial imperialism and terrorism. This private network, now in the hands of Wall Street creditors, is how they push and push to be the key bank in each nation. 

This proprietary network made it easy to use US financial terrorism, money laundering and laundering drug money by the US government. It also made it easier to attack financial markets to plunder others because the trading systems were faster than what others were using. In a single refresh or update, the US controlled system was faster and manipulation was far easier to do.

It also made it easier to spy on the activities of others.

If you watch closely this was and is all about US hegemony and imperialism and having the key assets in fewer and fewer hands. That way it is easier to control.

Now watch as the housing crisis continues, the trillions in credit card debt blow up, and the trillions of underwater derivatives explode. 

Just in the past month the US government has taken on well over $4 trillion in additional direct debt responsibility and has liquidated the short term treasuries to cover the massive wound with a band aid. Now they will have to print new money to cover their ass and add to inflation.

No nation in history has ever printed ('money') their way out of such financial calamities, but the US is now painted into that corner. The level of fraud has been that egregious and has now come home to roost on the US.

That is why I am not that concerned about more war. The US is broke and broken. The level of US fraud is so blatant they cannot borrow enough money to make up for their crimes and wrongdoing.  Their ability to finance more war is seriously hindered.  

Many were surprised when they read my book 'One-Way Ticket to Crawford Texas' and learned that I had documented the extent of how capital markets fraud is directly tied to Washington DC fraud.

<start insert>

The quote<#_ftn1>[1] below was the "First Cardinal Sin" committed by those pension fund managers and other institutional investors thinking that their future "high yield returns" would come from telecom and they would be safe if they put their money in that sector.

"In the 1980s the public was convinced that the leveraged restructuring movement was the work of capitalist fiends. The public and the press were unforgiving in their hostility toward the perceived engine of the takeover movement: the junk bond. Innovative instruments often generate antipathy, and none has generated more than junk. Some argue that the debt instrument itself was the cornerstone of the excess decade. James Brock, author of Dangerous Pursuits, writes, "Instead of marking a new development, the junk bond Eighties represent the last outbreak of a recurrently exhibited, extensively documented propensity for financial lunacy on a massive scale."2"

<end insert>

I also documented how Global Crossing was even part of the bogus Global War on Terror.  Bush allowed it to only be sold to a GWOT ally...even though our bid for the assets was almost 4 times as high.  They moved the parent to Mauritius in the Indian Ocean.  Why? The secure networks for Diego Garcia, military and CIA operations against the Middle East and Caspian Basin are serviced by Global Crossing.

Get it?

The entire Telecom debacle was yet another high-yield junk bond scam on the world. What you are witnessing right now in the US and world markets is they are all being forced to 'mark to market' because the bubble has popped, sort of like a nuclear weapon explosion.

The world has awakened to the sheer level of fraud of the Global War on Terror, the bogus, robust US housing market, the endless financial terrorism put forth by DC and Wall Street.

Better buckle those seatbelts. The rough ride is not nearly over.

Financial lunacy in America has reached the meltdown point.

Karl