Saturday, November 13, 2010

Lt. General Mcinerney: "I am absolutely certain that is not an aircraft"

SIC SEMPER TYRANNIS!!!
Mark Matheny
November 13, 2010

More information on the recent sighting off the coast of California has once again confirmed the unidentified flying object as a missile.

Sean Hannity of FOX News interviewed a panel of three guests on November 11, 2010 in regards to what their conclusions were pertaining to the mystery sighting last monday off of California's coast.

Sean Hannity began the interview by saying that the official statement by the Pentagon is that the object was a plane, and that he was willing to entertain that assertion.

However, Retired Airforce Lt. General Tom Mcinerney, with no reservations stated that this object was clearly a missile saying:
"Well first of all, I do not agree with the assertion Sean. And your question is, we should get a definitive answer. You're absolutely correct. Look, this is not an airplane because of the plume, and the way you see that plume. Airplanes do not con at sea level or 5000 ft like that. I spent 35 yrs flying fighters, and I never saw an airplane con like that. That is a missile - it's launched from a submarine, and you can see it go through a correction course, and then it gives a very smooth trajectory meaning that the guidance system has now kicked in, it's going at about a 45 degrees away from you that's why you're not seeing a lot of vertical velocity." 
When Sean interrupted Lt. Mcinerney, asking " are you 100% certain? Mcinerney answered with 100% conviction:
"Sean... I've watched that film 10 times, I've watched 15 other Trident films, SM 3.. Standard missile threes, and T Lam launches.... I am absolutely certain that that is not an aircraft."
This statement by Lt. General Mcinerney appears to agree with the report by Wayne Madsen where he reports that missile experts say the plume was definitely from a missile, (most likely a JL-2 ICBM) and that it was probably launched from a Chinese Jin class submarine.



Friday, November 12, 2010

Alex Jones: The Real Pyramid of Power

Prisonplanet.com

The Alex Jones ChannelNov 12, 2010
Alex breaks down the real pyramid of power and identifies the real puppet masters that control major world events

Obama Wants Internet Security Czar

  

President Barack Obama wants to ramp-up Internet security with the establishment of a czar to oversee privacy. The administration plans a stronger legal effort to protect Internet privacy -- including new laws and creation of a new position to oversee the effort, people familiar with the situation tell The Wall Street Journal.

A report scheduled to be issued by the Commerce Department in coming weeks should outline the strategy, the sources says. But the report hasn’t been finalized yet.

The White House has created a special task force to turn the Commerce Department suggestions into policy, the sources say.

That group was established three weeks ago and is headed by Cameron Kerry, Commerce Department general counsel and brother of Sen. John Kerry, D-Mass., and Christopher Schroeder, assistant attorney general for the Justice Department.

TSA checkpoints: Real-life horrors

'Security is one thing, license to molest people is another'


Posted: November 11, 2010
10:00 pm Eastern

By Bob Unruh
© 2010 WorldNetDaily



Logo for campaign to halt air travel
Editor's Note: Some of the links in this report lead to graphic images that have been taken from current airport security scanning procedures. Use caution in viewing the links.
Dozens of real-life horror stories have poured into WND in the 24 hours since a special hotline e-mail was set up to allow people to report their close encounters of the TSA kind, including a 70-year-old whose fudge "contraband" was discovered, a Los Angeles passenger who was "groped" four times and a man who was the target of a TSA screaming fit when he chose to opt-out of the "porno scan."
Just a day earlier, WND reported on the growing movement by activists and citizens to push back against Homeland Security Secretary Janet Napolitano's plans for "enhanced" screening at airport checkpoints.
Sign the petition calling for the suspension of the enhanced security searches.
The options now are to have a full-body scan that essentially produces a nude image of the passenger or opt out of that procedure and endure a full-hands-on body pat-down that includes private parts.

Read the entire article

Marc Faber says QE2 will not work precisely because excessive monetary growth caused the crisis

Source: BI-ME , Author: BI-ME staff
Posted: Thu November 11, 2010 7:04 pm



Marc Faber
INTERNATIONAL. Marc Faber the Swiss fund manager and Gloom Boom & Doom editor sees the Federal Reserve's monetary policies risking the creation of other asset bubbles similar to the ones that led to the financial system collapse.
He says it is important to understand the causes of the crisis, insinuating that you can't use the same tools to solve the crisis as the ones that caused it.
Speaking to CNBC on Tuesday, Faber attributed the cause of the crisis to excessive monetary growth.
"The cause of the crisis is excessive monetary growth leading to excessive debt growth, to the Nasdaq bubble, to the housing bubble that then led to overconsumption in the US and a symptom of over consumption in the country is always growth in trade deficit that then shifts production overseas because one trade deficit in one country is offset by trade surplus somewhere else. And to simplify matters lets say it was China," Faber said.
Asked if the global criticism of Mr Bernanke and the central bank following the announcement last week that the Fed will buy an additional US$600 billion of Treasuries through June,  in a bid to reduce unemployment and avert deflation, Faber said foreign leaders ought to be thanking the Fed for its weak-dollar policies.
"Actually, the US monetary policies have been very good for Asia, specifically for China because it fostered industrial production growth in China, employment growth, wage increases, domestic consumption, increased demand for raw materials, that then lifted commodity prices," he said
"For that actually the developing world, the emerging economies including China, India , Vietnam, Brazil and so forth should all send a thank you note to Bernanke, Faber added.
The Gloom Boom & Doom editor warned that the excess liquidity flows caused by a new round of quantitative easing will find their way into emerging economies and into precious metals leading to the build up of new bubbles that will burst and create the next crisis.
"The criticism arises because we have too much of a good thing, in other words the Fed's monetary policies now lead to some kind of bubbles in emerging economies through capital flows. These incoming liquidities, they can be absorbed in two ways - either let the currency appreciate sharply or you have domestic very high asset inflation or combination of the two," he told CNBC.
"Excess liquidity and dropping dollar bills on the United States from helicopters like Mr Ben Bernanke suggested - the problem with that is he doesn't know where the money will flow," he added.
"In this case, the excess liquidity flows into emerging economies and precious metals, and new bubbles are building up that at some point in the future will burst and then you have another problem on your hands the way you had the problem of the Nasdaq bubble burst and the housing bubble burst".
Writing in the November edition of The Gloom Boom & Doom report, Faber says the bull market in precious metals will continue as long as the US has negative real interest rates. In the short-run, the dollar could rally from very oversold levels and this would likely coincide with a market sell-off. Long term he remains as pessimistic as ever about the dollar.
Speaking to India's CNBC-TV18 today, Faber said: "Since the formation of the federal reserve, in 1913, the price of gold has gone up from US$25/oz to over US$1400/oz, In other words the value of a dollar bill has gone down by 97% in gold terms and it took more than a 100 years".
"Now the next time the value of the dollar declines by 97% won’t take a 100 years, I think it will happen in 10-15 years, " he said.

Source: http://www.bi-me.com/main.php?id=49509&t=1&cg=4

Thursday, November 11, 2010

Wayne Madsen: China Fired Missile Seen In Southern California

Wayne Madsen Report
November 10, 2010

Pentagon and its embedded media covering up Chinese show of force off LA
China flexed its military muscle Monday evening in the skies west of Los Angeles when a Chinese Navy Jin class ballistic missile nuclear submarine, deployed secretly from its underground home base on the south coast of Hainan island, launched an intercontinental ballistic missile from international waters off the southern California coast.

WMR’s intelligence sources in Asia, including Japan, say the belief by the military commands in Asia and the intelligence services is that the Chinese decided to demonstrate to the United States its capabilities on the eve of the G-20 Summit in Seoul and the Asia-Pacific Economic Cooperation summit in Tokyo, where President Obama is scheduled to attend during his ten-day trip to Asia.

Read the entire article

Man arrested over blog list of pro-war MPs

Wednesday, 10 November 2010
The Independent

A 23-year-old man was arrested on suspicion of encouraging an act of terrorism in connection with a website that listed MPs who voted for the Iraq War, police said today.

The man was taken into custody at 9.30am in connection with the internet blog which influenced a student who tried to kill MP Stephen Timms.

Officers from the West Midlands Counter Terrorism Unit conducted a search of the man's home address in the Dunstall area of Wolverhampton and arrested him under section one of the Terrorism Act 2006, West Midlands Police said.

A police spokeswoman added: "The website is the same one that was in the press last week in connection with stabbing of MP Stephen Timms."

Detective Chief Inspector John Denley said: "We are treating the contents and implications of this blog very seriously, and have taken action this morning to progress our investigation."

Computer and electronic equipment was seized for examination from the suspect's home address, police said.

Wednesday, November 10, 2010

U.S. Commander: U.S. Will Be Fighting in Afghanistan in 2014

Afghanistan
Tech. Sgt. Jeff Hedglin of the 58th Rescue Squadron scans for threats after taking ground fire during a mission aboard a Pavehawk CASEVAC helicopter in Kandahar province, Afghanistan, on Tuesday July 27, 2010. (AP Photo/Brennan Linsley)
Tuesday, November 09, 2010


(CNSNews.com) – U.S. Lt. Gen. William Caldwell, the commander of the NATO training mission in Afghanistan, indicated Tuesday that U.S. forces will still be fighting in Afghanistan in 2014. He said current plans aim to have "Afghan security forces in the lead" and U.S. forces in supporting roles by Dec. 31, 2014--more than four years from now.
President Obama has said that U.S. forces will begin withdrawing from Afghanistan in July 2011. But Lt. Gen. Caldwell's statement today indicates that the drawdown will still be in progress three-and-a-half years after it begins.




Read the entire article

Global 'Robin Hood' Tax Idea to Be Pushed at G-20 Summit

President Barack Obama walks past South Korean honor guard members as he arrives to attend the G-20 Summit in Seoul, South Korea, Wednesday, Nov. 10, 2010. (AP)
FOXNews.com
 
As President Obama huddles with world leaders for the G-20 summit in South Korea to weigh proposals aimed at stabilizing the global economy ,one idea being pushed is a so-called "Robin Hood tax," aimed at collecting money from rich nations to give to the poor.



The Robin Hood tax -- a global financial transaction fee that could raise hundreds of billions of dollars to pay the cost of the global financial crisis and support developing nations struggling to recover -- is not popular.
While Britain, France and Germany have championed a bank tax for all G-20 nations, finance chiefs from the industrialized nations shot down the idea at a previous summit held in Toronto last summer. 

Still, the tax's supporters, which include unions, environmental groups, Comic Relief, UNICEF and others in a multinational coalition, say the tax could go to canceling debt from poor nations. Or it could be used for social programs to fight hunger, diseases such as HIV/AIDS and malaria or other causes, programs to which the United States and other nations already donate billions.

The crusaders -- a coalition of 183 organizations from 42 countries -- issued a plea this week urging leaders at the G-20 summit in South Korea to adopt the measure. While specifics have not been outlined, the idea would be to charge a small transaction fee, anywhere from 0.05 percent to 1 percent, on each stock transaction made. 

When Will U.S. Leaders Confess To The American People That America Carries Out False-Flag Attacks?


When Will U.S. Leaders Confess To The American People That America Carries Out False-Flag Attacks As Part of Its Foreign Policy?
Opednews.com
Diary Entry by Saman Mohammadi

In September of this year, a retired Turkish general named Sabri Yirmibeshoglu admitted on Turkish television that the Turkish government carried out false-flag attacks on the island of Cyprus in the 1960s in order to instill feelings of hatred and revenge in Turkish Cypriots against the Cyprus government. The false-flag operations successfully destabilized the island, and helped Turkey's military objectives.

Yirmibeshoglu's admission was significant, as he was the former Secretary-General of the National Security Council (MGK), and the chief of Turkey's Special Warfare Department. For more details read Elias Hazou 's report, which was filed on September 24, 2010 for the Cyprus Mail:

Created in 1953 as part of the Turkish secret service, the Special Warfare Department is believed by commentators in Turkey to be the executive branch of the so-called "deep state.' "In order to increase the resistance of the people, you carry out sabotage against certain values, in order to create the impression that it is the enemy who did it. In Cyprus, we had torched a mosque," Yirmibe?o?lu said in an interview while describing methods used in unconventional warfare. (Turkey carried out false-flag attacks in Cyprus in 1960s, says Turkish General, Elias Hazou, Cyrpus Mail; Sept. 24, 2010).
Yirmibeshoglu was named by Ahmet Özal as one of the suspects involved in the assassination attempt of his father, Turgut Özal, in 1988. Özal later died in in 1993 due to a heart attack, but his family asserts that he was killed as a result of a poison injection by the same individuals within the Turkish deep-state who failed to kill him in 1988. Özal served as Turkey's Prime Minister from 1983 to 1989, and as President from 1989 to 1993.

An article published in Istanbul's Today's Zaman on September 30, 2010 called "Özal's death should also be investigated, says Ahmet Özal," has the details on this intriguing drama which shares many comparisons with the assassinations of American leaders in the 1960s, specifically John F. Kennedy and Martin Luther King Jr. An excerpt from the article:
Özal said his father was killed because he had resolved to find a peaceful and democratic solution to the Kurdish question. He said deep state elements, which were said to be Ergenekon by some and JİTEM by others, worked hard to destroy peace in Turkey in 1993, a year filled with politically motivated assassinations and suspicious deaths of important public, military and political figures. He claimed that the car that took his father to the hospital took an unnecessary detour and wasted half an hour. He also said he was not taken in an ambulance but in a car because the doctor and the ambulance of the Çankaya presidential palace were suspiciously unavailable that day. "These things have to be investigated," he said.
Korkut Özal, the brother of the former President, echoes his nephew's allegations in an upcoming book, writing; " If this incident [Özal's death] is investigated, it will be a scandal similar to Watergate, which led to the resignation of US President [Richard] Nixon," as reported on Today's Zaman on October 21, 2010.

If you've read this far you're probably wondering what my title has to do with a confession by a top former Turkish general that Turkey's government executed false-flag operations to promote its military interests in Cyprus, and allegations that Turkey's former President was assassinated by key members of the Turkish establishment in 1993. Well, there's a connection. Turkey is not unique. Can the American establishment assassinate peace-minded leaders? Yes. It. Can. And, Yes. It. Has. Can the American establishment carry out false-flag attacks abroad, and at home? Yes. It. Can. And, Yes. It. Has.

In fact, America's secret state orchestrated false-flag events and executed bombing campaigns inside Turkey, and other nations during the Cold War and blamed them on communists and leftist leaders in order to produce a sense of fear and helplessness in their populations. Daniele Ganser's deep research into this scandalous activity, which was done by a network of stay-behind armies organized by NATO, led him to write a book called "NATO's Secret Armies: Operation GLADIO and Terrorism in Western Europe." To know more, read some of Ganser's findings at this link.

NATO's secret terrorists were of great help to the U.S. establishment. Prior to the military coup d'état in Turkey on September 12, 1980, the CIA and NATO in cooperation with the Turkish military funded and trained secret groups to carry out false-flag attacks and terrorism with the purpose to undermine civil society, and create the condition in which a military takeover would be feasible. It's known as the strategy of tension, and it is considered standard operation procedure by military/deep-state insiders in America, Turkey, Israel, England, and other countries in the world that are dominated by anti-democratic interests. Since the end of World War Two, Western democratic governments have fallen prey to the powerful individuals who operate secretly against the public interests inside the deep-state apparatus of each nation.

According to professor Peter Dale Scott, the attack on the World Trade Center on September 11, 2001 was part of a long series of "deep events" in America. Scott:
However to call 9/11 a coup d'état exaggerates the difference between the current weakened condition of the public state, and the prior state of affairs that has been building for years, indeed for decades, towards just such a dénouement. For half a century the constitution and laws of the open or public state have been first evaded, then eroded, then increasingly challenged and subverted, by the forces of the deep state. I wish to suggest that this erosion has been achieved in part through a series of important deep events in post-war American history events aspects of which (it is clear from the outset) will be ignored or suppressed in the mainstream media.
Recent history has seen a number of such events, such as the assassination of John F. Kennedy, that are so inexplicable by the public notions of American politics that most Americans tend not even to think of them. Instead most accept the official surface explanations for them, even if they suspect these are not true. Or if others say they believe that "Oswald acted alone," they may do so in the same comforting but irrational state of mind that believes God will reward the righteous and punish the wicked.
The nature of the deep-state is such that not everybody in the government knows what is going on behind the scenes. Military officials and public representatives who are part of the deep-state are unlikely to confess to the press and the public about their involvement and knowledge, as they would be admitting to committing high treason, and great crimes. Their confession would be followed by their hanging, basically.

Some government officials, like Sen. Patrick Leahy, and Rep. Dennis Kucinich, have called for a truth and reconciliation commission to fully investigate the government's secret torture programs, illegal surveillance, and the questions surrounding the Sept.11 events. Aside from a few crickets, nobody in the media has made any noise about the suggestion to set up some type of truth commission in the United States.

Instead of the truth about 9/11 and the deep-state getting filtered through mainstream sources, or the alternative media, it is grassroots organizations like the International Center for 9/11 Studies and anti-establishment media outlets like the Alex Jones show and Coast to Coast AM that are exposing the war criminals and informing the public about the dark corruption.

Obviously, the current order of things cannot last. A reckoning is awaiting the world. The criminal and fraudulent global war on terrorism can only end once the governments of America, Iraq, Afghanistan, Iran, Pakistan, Turkey, Israel, Palestine, and other governments in the Middle East and around the world get together and come up with a fair and just solution to fix t he mayhem that was unleashed by the deep-state terrorists who dominate Washington through state secrecy laws, and control over the media.

Let's pray that there are brave and wise military and government leaders in the United States who have a handle on the historical situation, and who see the grave consequences of attacking Iran, which would trigger a large-scale war in the Middle East, and result in the deaths of innumerable people. Let's pray that they do the right thing, and help restore a strong, free, and truthful America.


Saman "Truth Excavator" Mohammadi is a blogger and a full-time university student, currently living in Toronto, Canada. His blog is http://disquietreservations.blogspot.com./


Currency Disputes Hang Over G-20 Summit

Published November 10, 2010
AP
Nov. 10: President Obama arrives to attend the G-20 Summit in Seoul, South Korea.
Associated Press

YOKOHAMA, Japan -- Intensifying friction over currencies and trade loomed Wednesday as leaders of major economies converged on Asia for back-to-back summits aimed at safeguarding the still fragile global recovery.


President Barack Obama and other top leaders were arriving in Seoul, South Korea, for a two-day Group of 20 summit with the ambitious agenda of remaking the world economy to nurture stable growth and prevent a repeat of the financial meltdown in 2008.

But that gathering, and a weekend summit of Pacific Rim leaders in the Japanese port city of Yokohama, are taking place as those nations struggle to reconcile conflicting strategies for achieving those aims.
G-20 officials -- whose countries comprise 85 percent of all economic activity -- have pledged not to use their currencies as trade weapons. But tensions reignited last week when the U.S. Federal Reserve announced a $600 billion bond
 buying plan that angered many trading partners.

Obama, wrapping up a brief visit to Indonesia after touring India, defended the Fed's move as a way to hasten a narrowing of huge gaps in trade and investment by engineering a weaker U.S. dollar -- thus putting pressure on countries with large trade and foreign exchange surpluses.

Read the entire article

Tuesday, November 9, 2010

Drone Surveillance Program Targeting Americans?

Activist Post
November 9, 2010 

A video from a 2007 investigative report by KPRC local news in Houston made a sizable impact on YouTube when it appeared early this year. The video (below) shows unequivocal proof of the secret testing of unmanned drones by the Houston Police department.

A similar program came to light in Las Vegas, also initiated in 2007. Is this an indication that police and military are now working jointly in a way that blurs the lines between their stated border control operations and a wider domestic surveillance program? Americans should not be comfortable with military-grade surveillance capabilities being used in American skies.

It is worth remembering that as far back as 2003, FOX News propagandized that unmanned Iraqi Drones May Target U.S. Cities, invoking a potential biological 9/11 carried out by UAV equipped with spray nozzles. Yet, this fleet of unmanned drones actually has taken flight over America at the behest of Homeland Security, working jointly with select police departments, and is enriching the corporations which produce this technology.

An article by CNET in 2006 quoted Mike Heintz on behalf of the UNITE Alliance, which represents the military-industrial behemoths Northrop Grumman, Lockheed Martin and Boeing, as envisioning that border control and anti-terrorism would be primary applications, but, “Other examples are limited only by your imagination.” Given this tacit admission of the openness of direction, the issue of the legality of these all-seeing drones — which are capable of viewing the general public without probable cause — should be paramount.

Yet, there has been very little public debate, despite the fact that these vehicles are already in use. In the wake of recent news about domestic surveillance of peaceful activists by Homeland Security, as well as surveillance by foreign intelligence agencies, Americans should not be comfortable with military-grade surveillance capabilities being used in American skies.

Read the entire article

Missile Shot Off Los Angeles Still a Mystery for Pentagon Officials

Published November 09, 2010
FoxNews.com



A video that appears to show a missile launch off the coast of California is so far "unexplained" by anyone in the military, a Pentagon spokesman told reporters Tuesday morning 

Col. Dave Lapan said he is not able to concur with an official from North American Aerospace Defense Command/U.S. Northern Command who told Fox News earlier that there was "no threat to the homeland." 
Lapan said the military doesn't know exactly what the so-called mystery missile was so can't say it's harmless.

A local CBS affiliate in Los Angeles on Monday evening captured on video the image of the "spectacular" projectile flying about 35 miles out to sea, west of Los Angeles and north of Catalina Island.

CBS' KFMB station in Los Angeles said no Navy activity had been reported in the area and no launches from Vandenberg Air Force Base had occurred since Friday.

Lapan said it does not appear that whatever was flying was part of a regularly scheduled missile test. He noted that before a missile test, notifications are sent to mariners and airmen. This does not appear to be the case here. 
At this point, the military
 is working only with video taken from the local news camera, and NORAD and Northcom apparently were not able to detect the contrail on their own.


It appears from the video, Lapan said, the object was launched from the water and not U.S. soil, though at this point there is no way to be certain.

Long-term jobless 'could face compulsory manual labour'

Long-term benefit claimants could be forced to do manual labour under proposals to be outlined by Work and Pensions Secretary Iain Duncan Smith.

BBC News
He is due to outline plans for four-week placements doing jobs like gardening and litter clearing.
Iain Duncan Smith is targeting long-term benefit claimants
He said the message would be: "Play ball or it's going to be difficult."

But the Archbishop of Canterbury warned that the planned welfare changes could drive people "into a downward spiral of uncertainty, even despair".

Under the plan, claimants thought to need "experience of the habits and routines of working life" could be put on 30-hour-a-week placements.

Anyone refusing to take part or failing to turn up on time to work could have their £65 Jobseekers' Allowance stopped for at least three months.

The Work Activity scheme is said to be designed to flush out claimants who have opted for a life on benefits or are doing undeclared jobs on the side.
Read the entire story

Monday, November 8, 2010

The Federal Reserve's latest quantitative easing may lead to disaster

QE2 may create the very conditions for a bubble and a new collapse that the Fed dreads

Federal Reserve board chairman Ben Bernanke speaks to an economics class at Jacksonville University, Florida, last week. Photograph: Mark Wallheiser/Getty Images
The Guardian,


It's November 2012 and Barack Obama is living out the last few weeks of his one-term presidency. History is being made for a second time: the first black commander in chief replaced by the first female holder of that exalted office after Sarah Palin's victory.

After his defeat, Obama is asked when it all went wrong. Looking back, he says, the key moment was 3 November 2010, the day after mid-term elections went badly for the Democrats, when the Federal Reserve took the decision to pump an extra $600bn (£370bn) into the US economy by creating new electronic money.

The Fed was warned at the time that what it was doing was high-risk stuff and took no notice when the former Ronald Reagan staffer David Stockman said it was injecting high-grade monetary heroin into the financial system. Instead of accelerating the US economy's recovery, the Fed created the bubble to end all bubbles. And when the bubble burst in late 2011, the game was up for Obama.

This, of course, is conjecture. Obama's poll ratings remain reasonable despite the economy, and Democrats are confident moderate voters will be put off by the stridency of the Tea Party when they vote in the 2012 race for the White House.

Read the entire article

Obama Calls for India to Be Permanent Member of U.N. Security Council


AP
Monday: A barefoot Indian worker sweeps the red carpet before the arrival of U.S. President Obama to a ceremonial reception at Rashtrapati Bhavan, the Presidential Palace in New Delhi, India.

Published November 08, 2010
Associated Press

New Dehli---President Barack Obama backed India for a permanent seat on the U.N. Security Council Monday, a dramatic diplomatic gesture to his hosts as he wrapped up his first visit to this burgeoning nation.
Obama made the announcement in a speech to India's parliament on the third and final day of his visit. In doing so, he fulfilled what was perhaps India's dearest wish for Obama's trip here. India has been pushing for permanent Security Council membership for years.

"The just and sustainable international order that America seeks includes a United Nations that is efficient, effective, credible and legitimate," Obama said. "That is why I can say today -- in the years ahead, I look forward to a reformed U.N. Security Council that includes India as a permanent member."

The announcement brought the loudest applause of Obama's speech. But it does not mean that India will join the five permanent Security Council members anytime soon. The U.S. is backing India's membership only in the context of unspecified reforms to the council that could take years to bring about.

That makes Obama's announcement more of a diplomatic gesture than a concrete step. Nonetheless, it underscores the importance the U.S. places on fostering ties with this nation of 1.2 billion people, something Obama has been seeking to accomplish throughout his time here.

Sunday, November 7, 2010

Number of the Week: $10.2 Trillion in Global Borrowing.

Number of the Week
$10.2
Trillion
$10.2 trillion: The amount of money advanced-nation governments will need to borrow in 2011
As the debts of advanced countries rise to levels not seen since the aftermath of World War II, it’s hard to know how much is too much. But it’s easy to see that the risk of serious financial trouble is growing.
Next year, fifteen major developed-country governments, including the U.S., Japan, the U.K., Spain and Greece, will have to raise some $10.2 trillion to repay maturing bonds and finance their budget deficits, according to estimates from the International Monetary Fund. That’s up 7% from this year, and equals 27% of their combined annual economic output.
Aside from Japan, which has a huge debt hangover from decades of anemic growth, the U.S. is the most extreme case. Next year, the U.S. government will have to find $4.2 trillion. That’s 27.8% of its annual economic output, up from 26.5% this year. By comparison, crisis-addled Greece needs $69 billion, or 23.8% of its annual GDP.

Read the entire article

$2 Trillion False Flag Event at the U.S. Treasury, the Fed’s Furtive Filching

by Barry M. FergusonMarket Oracle
$2,000,000,000,000.00 dollars has been stolen from the US Treasury!! What happened? Who did it? Did they get away with it?


The answers: A ‘false flag’ event, the Federal Reserve, and yes.
The theft was planned. It started with a ‘false flag’ event in 2008. Much like the ‘false flag’ event of 2001 in which two planes somehow imploded three buildings, the false flag event of 2008 was a game changer. As you remember, the big banks had bankrupted themselves with derivative driven debt issuance that could not be repaid. The financial system was in peril. Or, so we were led to believe. We were told by the Treasury Secretary at the time that ‘toxic illiquid assets were clogging up the system’ and preventing the lending process from working. They needed immediate assistance and that assistance could only come from the Federal Reserve. All we had to do was to surrender the Treasury. Our Congress complied and the false flag ruse had worked again. The theft could proceed.
The Fed then proceeded to buy the ‘toxic illiquid assets’ from the big banks. In all, it was about $1,250,000,000,000.00 in MBS (Mortgage Backed Securities) paper – give or take a few hundred billion. Where did they get the money? The Treasury printed it by increasing the debt by virtue of Treasury note issuance. Bear in mind that the Federal Reserve is a for-profit privately owned bank. Now they own a lot of bad paper. How did they complete the theft?
At this time, let me bring in Mr. Brian Sack to the story. Mr. Sack is the executive vice-president of the markets group at the Federal Reserve Bank of New York. He is the manager of the System Open Market Account (SOMA) for the FOMC. Basically, he manages the trading for the Fed. Mr. Sack has a doctorate in economics from MIT. A word of foreshadow and caution. As I have written in the past, it seems that everyone that has served to screw up the economy has been spawned by MIT, Harvard, or U. Cal. Berkeley. I’m not hatin’ – I’m just sayin’! Anyway, Mr. Sack just gave a presentation to the CFA Institute on October 4, 2010. Here is the link if you want the whole speech.


Mr. Sack explains the theft better than me.
‘The initial decisions by the FOMC to expand the Federal Reserve’s holdings of securities came at the height of the financial crisis. Before that time, the Federal Reserve maintained a relatively simple portfolio of between $700 billion and $800 billion of Treasury securities – an amount largely determined by the volume of dollar currency that was in circulation. In late November 2008, in the face of tightening financial conditions and a deep downturn in economic activity, the Federal Reserve announced that it would purchase up to $600 billion of agency debt and agency mortgage-backed securities (MBS). In March 2009, it expanded the program to include cumulative purchases of up to $1.75 trillion of agency debt, agency MBS, and longer-term Treasury securities. The use of the balance sheet in this manner was spurred in part by the inability to ease further using the traditional policy instrument, as the federal funds rate effectively reached the zero lower bound in late 2008.’
What Mr. Sack is telling us is the economy had deteriorated further and zero percent interest rates weren’t helping. They saw a chance to help themselves to a heap of money. Uh, I mean they offered to help us dopes out of our mortgage debt nightmare. But then the Fed found itself with a lot of garbage paper. It had no intention of taking a loss. Continuing:
‘Against that backdrop, an important policy decision regarding the Federal Reserve’s portfolio was made at the August FOMC meeting, when the Committee decided to halt this run-off and instead hold the size of the SOMA portfolio steady. To achieve this, the FOMC directed the Desk to purchase longer-term Treasury securities as needed to offset any principal payments realized on our holdings of agency debt and agency MBS.’
Read the entire article

Investigating Obama

Dylan Ratigan Show

The Nation's Ari Melber and former Rep. J.C. Watts R-Okla., discuss whether the GOP will bring a new are of transparency and accountability to government.

http://www.msnbc.msn.com/id/32450072/vp/40014191#39994949

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