- These are the Seven Days in October that will change
- Cheney-Bush, Bernanke, Pelosi & Paulson have successfully
destroyed 'trust' and have replaced this universal value with 'fear,' compounded
by public paranoia over the chaos they've created; in an uncertain world
where there are no longer any laws that govern governments or money-changers!
- The public is paying for this charade with trillions
of dollars that was their money until this depression was created to bleed
us; in direct and opposite proportion, to the trillions in bailouts that
have gone, or will soon go, into the private pockets of the money-changers
at the top.
- Welcome to Democracy Now! What about this latest
- MICHAEL HUDSON: Well, what upsets the Europeans
and the foreigners is that the US plan has done nothing at all
about the debt crisis itself. It's bailed out the creditors, but not a
penny of the actual debts, the subprime mortgage debts, are addressed.
Without any of the media knowing, the Federal Reserve over the last few
months has given $850 billion of cash for trash already. This is what the
$700 billion discussion in Congress was supposed to be about, but the Fed,
without anyone knowing, has already been exchanging these securities. And
the securities essentially have been swapped by the US bankers
to their pals and not done anything at all to write down the actual subprime
debts. There's a big attempt to blame the victim now. And if you add up
all of the subprime bad loans and defaults, that's altogether $1 trillion.
So far, the government has given away $6 trillion already to Wall Street.
That's much more than any of the subprime debt. And the volume of derivative
trade has been estimated at $450 trillion, an unbelievable amount. So nobody
has any idea about how much money is at stake.
- And what really triggered a lot of this was the way in
which Lehman went bankrupt. The day-and this has not been discussed either
in America, but it's all over the European press. The day before Lehman
went bankrupt, it basically looted all of its foreign offices. For instance,
in England, it emptied out the English account of a few billion dollars,
leaving the English employees only with the money they-the little cards
they had to use in the vending machines. No salaries were paid. The London office
was closed down immediately. And the next day, Lehman used the money that
it took from London to pay its closest associates to redeem the
derivative trades that it had done. So the English bankers came out and
said, in England, we have an ethic: it's lend to the person, not against
the asset. And they've come to the conclusion that the American bankers-well,
we won't say "crooks," but let's say they're cronies who deal
among themselves and are willing to screw the foreigner.
- And this has created such mistrust abroad that Europeans
and Asians and OPEC country investors are simply pulling their money out
of the US, because they don't have a clue as to the solvency of the
banks. We're seeing the end result of the Alan Greenspan deregulatory revolution,
where he said markets are all self-regulating. Right now, you're seeing
the markets self-regulate themselves. And the result is a wipeout of the
American pyramiding." And there's more here (1)
- Government keeps saying that this is only financial,
and that our industries and businesses are still sound-that is a blatant
lie! This could not be happening here if the US had a manufacturing
or an industrial base of any kind: But our once formidable American commercial
infrastructure has been outsourced, with the full approval and encouragement
of this government; causing massive loses in American jobs for those American
workers that have now been thrown on the trash-heaps of history.
- Any 'Republic' that no longer has a system of checks
& balances or anything remotely resembling 'oversight' of what they
create to run the nation, is no longer a country-it is only a fascist police-state
- "Senator Chris Dodd, the banking committee chair
has no plans to subject the new Bailout Czar, Neel Kashkari to conformation
hearings. Kashkari is the thirty-five year old Treasury official, tapped
by Henry Paulson, to oversee the more than 700 billion-dollar bailout.
Like Paulson, Kashkari is a former employee of Goldman-Sachs. Kashkari
graduated from business school six years ago."
- Given this fact: it is now clear that we can forget about
the political campaigns because whoever "wins" that farce will
not even come close to having the kind of power that this 35 year old insider
will be able to have, when he begins handing out "450 Trillion
dollars" to the money-changers at the expense of every one of
us! There's a huge difference between the $850 Billion they told us about
and the $450 Trillion that is the actual amount of the problem! That's
more money than any economy could ever envision, much less ever have: and
yet that's the payoff that this Depression was designed to create!
- And Senator Dodd does not think that we even ought to
have a hearing to see if this Goldman-Sachs insider is even qualified for
anything, much less this job that will clearly make the US presidency
into the standing joke that it already is!
- Americans at all levels of this nightmare are hurting
badly, some far more than others. The meltdown has cut into 401K's, into
investments, retirement funds, savings accounts, mutual funds, and stock
option plans not to mention the number of homes and jobs that will be lost
in this massive war against the people of the United States, and by extension
the world. Hundreds of Trillions will be doled out before this is done,
but not one cent will be given to real people to protect them in any way
from what has already destroyed over twenty percent of the retirement savings
that had to be earned over many decades!
- According to CBS News this morning "we have lost
$8 Trillion so far this year, and the markets have fallen 40% from where
they were just one year ago today." This Depression is not remotely
near the end, as the automotive and airlines and the insurance shortfalls
will also be demanding bailouts notwithstanding the fact that the
subprime mortgages have still not even been addressed. What happened
to Impeachment or anything to do with challenging these people on anything
they've done! This is happening - because we have remained silent and obedient
throughout the last eight years of this completely criminal regime, in
the face of war-crimes by the hundreds, and outrages that defy all the
human sensibilities on which the community of nations was built.
- So much money being paid out-all in secret of course-and
nothing to help real people survive the coming depression. Once more the
global money-changers are being bailed-out with no thought at all to saving
the very people that are being forced to pay off these eternal bandits
that have declared "All out War" upon the global economy and
the global- population who will suffer or die because of this new outrage!
- This situation screams for resolutions: yet all we get
are platitudes amid the chaos of failing markets, and no one in authority
is even remotely in any danger of even getting fired! If 'resolutions'
fail then the only choice left to the real people of this world will be
a global demand for Revolution, along with total control over all bankers
and politicians of any stripe-forever!
- If this sounds impossible or implausible then please
just think about this completely other proposal, from Benjamin Fulford:
- "With a brand new financial system built from scratch,
it would be possible to end world poverty and stop environmental destruction
within a month. The reason is simple, we have been blinded from reality
by a hypnotic pyramid scheme known as the world financial system. The financial
system is nothing more than the process of deciding what humanity will
do in the future. In other words, it is fundamentally nothing more than
mass psychology. Thus, if humanity changed their collective psychology
about how to run the planet, it could decide, within a few days, to care
for the poor and stop destroying nature. It is simply a matter of making
the collective decision to do so. That is all."
- And of course there's a lot more to it than just the
above paragraph. . . (2)
- If this Depression is not averted, then we must act,
because there's a total lack of responsibility in the continued fleecing
of the public and of everything we have all worked for all our lives! This
must not be allowed to reach its designed conclusion not that is
if we are planning to have a future of any kind, for our selves or
for any of our descendants!
- 1) As Stocks plummet across the Globe
- 2) Fulford How to Rebuild Finances and Save the