Tuesday, October 20, 2009

Lindsey Williams on The Alex Jones Show Oct 19, 2009

Pastor Lindsey Williams was on the Alex Jones Show yesterday Oct 19, 2009.  He was acting as if he had heard the news that all of us have been dreading but fear inevitable.  He was a chaplain at a large oil company many years ago and got to know an unnamed elitist.  He spoke with this man, who was described as 85 years old and near death, last week and couldn't believe what he told him. The Pastor spoke with the same man before when he predicted oil prices with uncanny accuracy and this is not the only thing the guy has got right from speaking with this elitist.  Simply put, the guy is always right.   Go to my YouTube page for the whole 7 part interview.  On the right side of my page there is a scroll bar and at the bottom of the scroll bar is my playlists that has the clips all together.  


10 Questions About Flu Vaccines That The Doctors and Heath Authorities Refuse to Answer

Mike Adams
Natural News
October 17, 2009
Vaccine mythology remains rampant in both western medicine and the mainstream media. To hear the vaccination zealots say it, vaccines are backed by “good science,” they’ve been “proven effective” and they’re “perfectly safe.”
featured stories   Ten questions about flu vaccines that doctors and health authorities refuse to answer
voodoo doll
You would have the same level of protection from the flu if you brought your own personal voodoo doll to the clinic and had them inject that with the vaccine instead of you.
Oh really? Where’s all that good science? As it turns out,there’s isn’t any. Flu vaccines (including swine flu vaccines) are based entirely on avaccine mythology that assumes all vaccines work and no vaccines can be scientifically questioned. Anyone who dares question the safety or effectiveness of vaccines is immediately branded a danger to public health and marginalized in the scientific community.
Here are ten questions vaccine-pushing doctors and health authorities absolutely refuse to answer:
#1) Where are the randomized, double-blind, placebo-controlled studies proving flu vaccines are both safe and effective?
Answer: There aren’t any. (http://www.naturalnews.com/027239_v…)
#2) Where, then, is the so-called “science” backing the idea that flu vaccines work at all?
Answer: Other than “cohort studies,” there isn’t any. And the cohort studies have been thoroughly debunked. Scientifically speaking, there isn’t a scrap of honest evidence showing flu vaccines work at all.
#3) How can methyl mercury (Thimerosal, a preservative used in flu vaccines) be safe for injecting into the human body when mercury is an extremely toxic heavy metal?
Answer: It isn’t safe at all. Methyl mercury is a poison. Along with vaccine adjuvants, it explains why so many people suffer autism or other debilitating neurological side effects after being vaccinated.
#4) Why do reports keep surfacing of children and teens suffering debilitating neurological disorders, brain swelling, seizures and even death following flu vaccines or HPV vaccines?
Answer: Because vaccines are dangerous. The vaccine industry routinely dismisses all such accounts — no matter how many are reported — as “coincidence.”
#5) Why don’t doctors recommend vitamin D for flu protection, especially when vitamin D activates the immune response far better than a vaccine?(http://www.naturalnews.com/027231_V…)
Answer: Because vitamin D can’t be patented and sold as “medicine.” You can make it yourself. If you want more vitamin D, you don’t even need a doctor, and doctors tend not to recommend things that put them out of business.
#6) If human beings need flu vaccines to survive, then how did humans survive through all of Earth’s history?
Answer: Human genetic code is already wired to automatically defend you against invading microorganisms (as long as you have vitamin D). (http://www.naturalnews.com/027231_V…)
#7) If the flu vaccine offers protection against the flu, then why are the people who often catch the flu the very same people who were vaccinated against it?
Answer: Because those most vulnerable to influenza infections are the very same people who have a poor adaptive response to the vaccines and don’t build antibodies. In other words flu vaccines only “work” on people who don’t need them. (And even building antibodies doesn’t equate to real-world protection from the flu, by the way.)

#8) If the flu vaccine really works, then why was there no huge increase in flu death rates in 2004, the year when flu vaccines were in short supply and vaccination rates dropped by 40%? (http://www.naturalnews.com/027239_v…)
Answer: There was no change in the death rate. You could drop vaccination rates to zero percent and you’d still see no change in the number of people dying from the flu. That’s because flu vaccines simply don’t work.
#9) How can flu vaccines reduce mortality by 50% (as is claimed) when only about 10% of winter deaths are related to the flu in the first place?
They can’t. The 50% statistic is an example of quack medical marketing. If I have a room full of 100 people, then I take the 50 healthiest people and hand them a candy bar, I can’t then scientifically claim that “candy bars make people healthy.” That’s essentially the same logic behind the “50% reduction in mortality” claim of flu vaccines. (http://www.naturalnews.com/027239_v…).
#10) If flu vaccines work so well, then why are drug makers and health authorities so reluctant to subject them to scientific scrutiny with randomized, placebo-controlled studies?
Answer: Although they claim such studies would be “unethical,” what’s far more unethical is to keep injecting hundreds of millions of people every year with useless, harmful vaccines that aren’t backed by a shred of honest evidence.
Vaccine voodoo?
The vaccine industry is about making money, not actually offering immune protection against the flu. Whether people get the flu or not is irrelevant to the bottom-line profits of the drug companies. What matters most is that people continue to take the flu shots, and making that happen depends entirely on pushing the vaccine mythology that infects the minds of doctors and health authorities today.
There was a time when all “good” doctors believed in bloodletting. Sickness was caused by evil spirits, they thought, and releasing pints of blood from the patient would clear the evil spirits and accelerate healing. Any doctor who questioned the science behind bloodletting was called a “denier.” All the “good” doctors said, “We know bloodletting works, so we don’t need science to back it up.”
Today, you hear the exact same thing about vaccines. “We know they work,” doctors claim, “so we don’t need any real science to back it up.” Anyone who questions the safety of flu vaccines (or H1N1 vaccines) is branded a “denier.” Anyone who asks for solid scientific evidence supporting the efficacy of vaccines is called a troublemaker. They don’t need any evidence. They already know vaccines work.
With that being the case, why bother calling it medicine at all? Why not just call it VOODOO? Why not accompany vaccines with the wave of a magic wand and some shamanic chanting? Maybe doctors should tell their patients to cross their fingers before being injected with a vaccine because “that makes it work better.”
Seriously. Everything that doctors accuse “quacks” of doing with homeopathy, or herbs, or energy medicine is now being done by the doctors themselves when it comes to vaccines. They are following the exact same “quackery” they accuse other of pursuing.
This brings me to an important observation about modern medicine: MY quackery is okay, but YOUR quackery isn’t!
That’s the attitude of vaccine-pushing doctors and health authorities. As long as the quackery is widely agreed upon by the medical masses, then to heck with actual scientific evidence.
Quackery only needs good company, not good science, to be accepted as true.
Why natural medicine is inherently safer
Of course, these vaccine devotees might say, well, you don’t have any good evidence to support your anti-viral herbs, or your medicinal teas, or your vitamin D nutrition either. But in saying that, they miss the whole point: Foods, herbs and nutrition are all natural, biocompatible healing elementsthat have been part of the human experience for as long as humans have roamed this planet. A chemical injection with a sharp needle that pierces the skin, on the other hand, is extremely interventionist. It’s unnatural and in many ways quite radical. As such, it demands a higher burden of scientific proof than something that human beings have evolved with over time.
Foods, herbs and natural medicines have been around for millions of years. Vaccines have existed for less than a hundred years, and routine season flu vaccinations have really only been pushed hard for less than twenty years. They have no track record of success. They aren’t natural, they aren’t compatible with human biology, and they contain extremely toxic substances that clearly do not belong in the human body.
Given such extremes, the burden of proof for both safety and efficacy of vaccines falls onto those who would advocate them. And yet, to this day, no such proof has been offered… or is even pursued. There isn’t even a plan in place to someday find out if flu vaccines really work. The whole plan is to just pursue “business as usual” and keep injecting people whether it really works or not.
Vaccine needles would be far more honest if they were shaped like question marks.
Flu vaccines are the voodoo of modern medicine.
Seriously. You would have the same level of protection from the flu if you brought your own personal voodoo doll to the clinic and had them inject that with the vaccine instead of you!
That’s an interesting idea, actually. We could really reduce national health care costs if we just administered western medicines to our voodoo dolls instead of our actual bodies. Got cancer? Just poison your voodoo doll with chemotherapy. Side effects are almost non-existent. Need heart bypass surgery? Just have them operate on the doll (it’s far less complicated). Want some protection from the winter flu? Just vaccinate the doll. It’s quick and painless.
The results would be no worse than what people are experiencing right now. In fact, in most cases they might actually be better.

Mao & Rockefeller: Beck Fails to Call Out the Real Monsters

Kurt Nimmo
October 17, 2009
Glenn Beck continues his false right-left shell game in the video clip here. He spotlights a speech by Anita Dunn, the interim White House Communications Director, who says Mao is her favorite political philosopher. Glenn Beck feigns outrage and tells us Obama is surrounded by progressive radicals. His now infamous chalkboard contains photos of Mao, Stalin, Dunn, and the Soviet hammer and sickle.

Beck’s diatribe comes a few days after Dunn issued a denunciation of Fox News on  CNN. She said Fox is a “vehicle for Republican Party propaganda and an ideological opponent of the president.” She accused Fox of operating “as either the research arm or the communications arm of the Republican Party. And it is not ideological… what I think is fair to say about Fox, and the way we view it, is that it is more of a wing of the Republican Party.”
Beck and Dunn are playing a diversionary game. Fox’s owner, Rupert Murdoch, courted Democrat Hillary Clinton and backed her run for president. CNN enthusiastically covered Republican Bush’s murderous invasion of Iraq and refused to allow equal time for those opposed to the carnage. CNN has maintained a close relationship with the Pentagon and the non-partisan war and mass murder machine, as Alexander Cockburn has noted. Beyond the phony partisan theatrics, there is not a lick of difference between the two disinformation and propaganda outlets. Both are disinfo mills for the New World Order.
featured stories   Mao and Rockefeller: Beck Fails to Call Out the Real Monsters
kissinger and maofeatured stories   Mao and Rockefeller: Beck Fails to Call Out the Real Monsters
Rockefeller minion Henry Kissinger forges relations with one of history’s most notorious serial killers.
Beck wants you to believe the people surrounding Obama are communists. That’s why he has the Soviet symbol on his blackboard. In fact, the people surrounding Obama — not minor and peripheral figures like Anita Dunn — are bankster operatives, members of the Council on Foreign Relations, the Trilateral Commission, and the Bilderberg Group. The really important figures behind Obama are one-world globalists who admire the sort of authoritarianism put into practice by Mao.
Tim Geithner, Susan Rice, Gen. James L. Jones, Paul Volker, Richard Haass, Richard Holbrooke, and Dennis Ross — these are members of the Trilats, the CFR, and the Bilderberg Group. Volker and Geithner are former Federal Reserve operatives. Sec. State Clinton is married to a high-level Bilderberger and Trilateral Commission member. She has attended Bilderberg meetings. Geithner cut his teeth at Kissinger Associates.
Henry Kissinger has spoken fondly of Obama. So has Rockefeller operative Zbigniew Brzezinski. Kissinger was the first diplomat to visit Communist China. A few years before Kissinger met with Mao Zedong, the Chinese dictator launched the Cultural Revolution and had 30 million people killed. Kissinger, a world-class war criminal, was in good company.
Why didn’t Beck mention Kissinger in his diatribe about China and Mao? He didn’t dare. Glenn Beck knows who the boss is — the global elite and a coterie of international bankers. It’s easier and far more safe to pick on a crop of puny socialists and academic dreamers with hangovers from the 1960s.
The banksters loved Mao because he represented the sort of government they cherish – a brutal dictatorship ready to slaughter millions at the drop of a hat.

“Whatever the price of the Chinese Revolution, it has obviously succeeded not only in producing more efficient and dedicated administration, but also in fostering high morale and community of purpose,” declared David Rockefeller. “The social experiment in China under Chairman Mao’s leadership is one of the most important and successful in human history.”
China’s “social experiment” includes the murder of nearly 80 million people, a vast political prison system, the brutal repression in Tian’anmen Square (between 6,000 – 10,000 killed), the systematic murder of political prisoners for their internal organs, and a sprawling slave labor complex cranking out manufactured goods.
“Communism or more accurately, socialism, is not a movement of the downtrodden masses, but of the economic elite,” wrote the late Gary Allen. “If one understands that socialism is not a share-the-wealth program, but is in reality a method to consolidate and control the wealth, then the seeming paradox of super-rich men promoting socialism becomes no paradox at all. Instead, it becomes logical, even the perfect tool of power-seeking megalomaniacs.”
Behind the flaccid rhetoric of Glenn Beck with his blackboard of academics and low-level Obama bureaucrats stands the power-seeking megalomaniacs who own lock, stock, and barrel the government and the corporate Mockingbird media. The elite use media to divert serious discussion and activism into a dead end circus side show of Republican vs. Democrat, progressive vs. neocon, ad nauseam.
Beck’s show is instructional for members of the 9-12 movement, specifically designed to foster hatred of Democrats and “socialists” who in fact work for the same bankers Beck does. Most people following Beck’s 9-12 have their hearts in the right place. It’s too bad they are following the Pied Piper of the global elite.
ACORN and Anita Dunn, while despicable, are warts on the backside of a Tyrannosaurus rex. It’s Beck’s job to keep us focused on the small stuff while the beast continues its quest to enslave the entire world and turn it into a prison planet based on the very slave plantation Beck criticizes.

Cap And Trader Demands Carbon Derivatives Bubble

Kurt Nimmo
October 18, 2009
In The Guardian, Nicholas Stern argues for poverty, misery, and the latest bankster scam. He says the “rich countries” not only have to reduce emissions significantly but also tax their not-so rich populations and give the money to developing countries. Current efforts to reduce carbon emissions are not enough, according to Stern. “By 2050, the global population is projected to rise to 9 billion, so average per head emissions will have to be lower than 2 tonnes per year on average. For rich countries, this will require a cut in annual emissions by at least 80% by 2050,” he writes.
featured stories   Cap and Trader Demands Carbon Derivatives Bubble
featured stories   Cap and Trader Demands Carbon Derivatives Bubblefeatured stories   Cap and Trader Demands Carbon Derivatives Bubble
Lord Stern, who is chair of the Grantham Research Institute on Climate Change and the Environment, says a reduction in carbon emissions can be realized through the operation of carbon markets.
In other words, between now and 2050, the “rich countries” (or their populations anyway) will have their standards of living reduced significantly. They will be forced under international treaty to fork over $100 billion a year to developing nations.
Stern suggests “high-ambition” commitments, including a rollback of international shipping and aviation. He says a the transition to a low-carbon economy will “create a new era of prosperity and growth.”
Lord Stern, who is chair of the Grantham Research Institute on Climate Change and the Environment, says a reduction in carbon emissions can be realized through the operation of carbon markets.
Carbon markets and trading are another bankster bubble scheme. “This system would create whole new classes of financial assets, which financial firms could securitize, derivatize, and speculate on,” writesEoin O’Carroll for The Christian Science Monitor. “Many critics are pointing out that this new market for carbon derivatives could, without effective oversight, usher in another Wall Street free-for-all just like the one that precipitated the implosion of the global economy.”
Wall Street is already on the move. The Center for Public Integrity noted in February that banks have been sending climate change lobbyists to Washington in earnest and are attempting to get the American Clean Energy and Security Act rammed through Congress. It passed the House of Representatives by a vote of 219-212 in June. It now moves to the Senate.
The American Clean Energy and Security Act “is about profits, not environmental remediation,” writesStephen Lendman. “Its emissions reduction targets are so weak, they effectively license pollution by creating a new profit center to do it.”
“Wall Street banks like Goldman Sachs and JP Morgan Chase, insurance companies like AIG and private equity firms had virtually no reps on Capitol Hill working on global warming policy in 2003; by last year, they had about 130 climate lobbyists, the Center for Public Integrity’s analysis of Senate lobbying disclosure forms shows. About 20 additional lobbyists worked for firms and organizations wholly dedicated to carbon marketing last year,” writes Marianne Lavelle.
It is estimated that the “carbon market” and its securitized, derivatized, and speculated financial assets will ultimately be worth trillions a year to Wall Street and the bankers. It will inflate a massive bubble designed to burst like all the bubbles that came before it. “If you think the housing and credit bubble diminished your financial security and your community, or the bailouts, or the rising gas prices did as well, hold on to your hat for what’s coming. Carbon trading is gearing up to make the housing and derivative bubbles look like target practice,” warns Catherine Austin Fitts.
fall of the republic
“Carbon markets can and will be manipulated using the same Wall Street sleights of hand that brought us the financial crisis,” notes Rep. James Sensenbrenner. Dennis Kuchinich cited Matt Taibbi’s Rolling Stone article on the Goldman Sach’s bubble machine. “Goldman Sachs has engineered every major market manipulation since the Great Depression — and they are about to do it again.”
Goldman Sachs is confident Obama and Congress will pass cap and trade legislation. On October 12,The New York Times reported that Goldman Sachs has completed a $12 million carbon offsets transaction, described as “the largest deal of its kind in the United States.” The “transaction reflects growing confidence in a regulated carbon market in the United States, even though the concept is still the subject of much debate in Congress,” according to the newspaper.
Finally, Lord Stern is hardly a neutral observer merely concerned with climate change and the fate of the planet. On June 16, 2008, Dow Jones Financial News Online announced that Stern “is set to launch a rating service for carbon credits in an attempt to boost investment in the nascent market.”
In the following video, Stern explains the carbon market scheme:

Agenda 21: The Death Knell of Liberty

Jim O’Neill 
Canada Free Press
October 19, 2009
“The common enemy of humanity is man.  In searching for a new enemy to unite us, we came up with the idea that pollution, the threat of global warming, water shortages, famine and the like would fit the bill.  …The real enemy then is humanity itself.
Democracy is no longer well suited for the tasks ahead.” —From the Club of Rome’s “The First Global Revolution” p. 71,75 1993
Therefore, send not to know for whom the bell tolls, It tolls for thee.”—John Donne (1572-1631)
featured stories   Agenda 21: The Death Knell of Liberty
silvafeatured stories   Agenda 21: The Death Knell of Liberty
They have twisted and perverted the U.S. Constitution.

The death knell for freedom has been tolling for some time, and only now are people starting to hear it.  It started tolling faintly, decades back, and has slowly progressed in volume, until today its tolling is impossible to ignore.
The United States of America—that “shining city on a hill”—had a good run of it, and made a gallant effort at establishing liberty for all.  But as the old saw would have it, all good things must come to an end.
Liberty, after all, is an aberration in mankind’s history—a light that has flared here and there over the centuries, only to dissolve back into the darkness.
America is barreling towards becoming a bit player on the world’s stage, and its vaunted middle class—once the envy of the world—is on the verge of being eliminated.
For the good of the planet, for the good of Gaia, for the good of the collective.
Freedom is being replaced by servitude, capitalism by socialism, and property rights by “sustainable development.”
I’m not talking about something we need to be on guard against.  It’s all already in place.  It has been going on for quite some time, and it will continue to go on, at a greatly accelerated pace.  We are at the “end game” point.

Another Financial Bubble Comes Into View

Bob Chapman
The International Forecaster

October 19, 2009
Some of Treasury Secretary Timothy Geithner’s closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.
featured stories   Another Financial Bubble Comes Into View
featured stories   Another Financial Bubble Comes Into Viewfeatured stories   Another Financial Bubble Comes Into View
Gene Sperling is part of Geithner’s kitchen cabinet.
The advisers include Gene Sperling, who last year took in $887,727 from Goldman Sachs and $158,000 for speeches mostly to financial companies, including the firm run by accused Ponzi scheme mastermind R. Allen Stanford. Another top aide, Lee Sachs, reported more than $3 million in salary and partnership income from Mariner Investment Group, a New York hedge fund.
As part of Geithner’s kitchen cabinet, Sperling and Sachs wield influence behind the scenes at the Treasury Department, where they help oversee the $700 billion banking rescue and craft executive pay rules and the revamp of financial regulations. Yet they haven’t faced the public scrutiny given to Senate-confirmed appointees, nor are they compelled to testify in Congress to defend or explain the Treasury’s policies.
These people are incredibly smart, they’re incredibly talented and they bring knowledge, said Bill Brown, a visiting professor at Duke University School of Law and former managing director at Morgan Stanley. The risk is they will further exacerbate the problem of our regulators identifying with Wall Street.
While it isn’t unusual for Treasury officials to come from the financial industry, President Barack Obama has been critical of Wall Street, blaming its high-risk, high-pay culture for helping cause the financial-market meltdown.
Import Price Index rises 0.1% MoM in September, -12% YoY
Mortgage applications fell a seasonally adjusted 1.8% last week, compared with the week before, as mortgage rates rose, the Mortgage Bankers Association reported Wednesday. This week-to-week drop follows a 16.4% week-to-week gain for the week ended Oct. 2. The MBA survey covers about half of all U.S. retail residential mortgage applications.
Applications to refinance an existing mortgage were down an unadjusted 0.1%, compared with the week ended Oct. 9, according to the MBA’s weekly survey. Home purchase applications fell a seasonally adjusted 5%.
The four-week moving average for all mortgages was up 5.6% last week.
Refinance mortgage applications made up a 67.4% share of all applications last week, up from 66.3% the week before. Adjustable-rate mortgage applications made up a 6.2% share of all applications, up from 6.1%.
Rates on 30-year fixed-rate mortgages averaged 5.02% last week, up from 4.89% the previous week. The average rate on 15-year fixed-rate mortgages was 4.44%, up from 4.32%. And rates on 1-year ARMs averaged 6.71%, up from 6.56%.
To obtain the rates, the 30-year fixed-rate mortgage required payment of an average 1.11 points, the 15-year fixed-rate mortgage required payment of an average 1.04 points and the 1-year ARM required an average 0.32 point. A point is 1% of the mortgage amount, charged as prepaid interes.
The economy may be poised for a rebound but for a lot of people times are very tough. According to a new report, the number of homeless people sleeping in New York City shelters has reached an all time high at 39,000 — many of them are children.
Using New York City’s own data, a homeless group claims a record number of people are in city shelters, particularly children, despite years of programs that were supposed to bring homeless numbers down. But perhaps the best way to understand this is to listen to a woman trying to hold her family together.
Most of us walk through the streets of the city thinking about our own problems. Hopefully, that does not include where we’re going to sleep tonight. But for more and more New Yorkers, that’s not the case, especially for children.
Mary Brosnahan, longtime executive director of the Coalition for the Homeless used the city’s own data, and says homelessness has been increasing each of the last five years, and currently is at an all-time high. At the end of September, 10,494 homeless families lived in shelters, including 16,615 homeless children.
What does that mean for those children, and their future? That they will spend a substantial amount of their childhood, in a homeless shelter? asked Bill de Blasio, the chairman of the City Council General Welfare Committee.
Bank of America Corp. said Tuesday it will charge a limited number of its credit card customers annual fees ranging from $29 to $99 starting next year.
“We’re testing this to see what the feedback is. In terms of any plans going forward, we haven’t made any decisions,” said Betty Riess, a spokeswoman for Bank of America. She said the fee is being “tested” on 1 percent of its credit card accounts globally, but declined to give specific numbers.
Bank of America, based in Charlotte, N.C., had 80.2 million credit cards in circulation last year, making it the third-largest issuer of cards, according to CreditCards.com. Chase was first with 119.4 million cards, while Citi had 92 million.
The Bank of America accounts that will be charged fees were selected based on “risk and profitability,” Riess said. That means customers in good standing who never carried a balance – and never incurred interest charges or late fees – could be among those getting notices.
The volume of delinquent commercial mortgages jumped sevenfold last month as borrowers who got loans with lax terms fail to make debt payments amid sinking real estate values, according to Credit Suisse Group AG.
In September, installments on $22.4 billion of mortgages were at least 60 days late, up from $3.2 billion a year earlier, Credit Suisse analysts wrote in a report. The delinquency rate rose 33 basis points to 3.34 percent, according to the New York- based analysts led by Gail Lee. A basis point is 0.01 percentage point.
Commercial-property owners are struggling to repay debt as data from Moody’s Investors Service show prices have plummeted 38.7 percent from October 2007 peaks. Defaults on shopping malls, skyscrapers and hotel loans are increasing as borrowers that took out mortgages expecting rents and occupancies to rise miss payments, according to the analysts.
“As the credit crunch intensified over the past year, the poor underwriting on recent vintage loans has resulted in early defaults,” the Credit Suisse analysts said.
JPM CEO Jamie Dimon: Credit costs remain high and are expected to stay elevated for the foreseeable future in the consumer lending and card services loan portfolios.
JPMorgan’s loss provision to cover current and future home loan defaults rose to $3.99 billion, while its provision for credit card losses surged to $4.97 billion.
Credit card defaults and mortgage losses are likely to continue to creep higher and lag an overall economic recovery. Losses on credit cards typically mirror unemployment, which rose to 9.8% in September.
JP Morgan’s losses on credit cards have already passed 10%. The bank said the percentage of credit card loans it wrote off as not being repayable in the third quarter reached 10.3%.
Loan losses were also pushed higher by weakness in the portfolios JPMorgan acquired when it purchased the failed bank Washington Mutual a year ago.
Federal Reserve Governor Daniel Tarullo, who is leading an overhaul of the Fed’s bank examinations, plans to tell a Senate subcommittee today that U.S. banks face the risk of further “sizable” credit losses.
“While there have been some positive signals of late, the financial system remains fragile and key trouble spots remain,” Tarullo, 56, said in remarks prepared for a hearing in Washington. He added that it will be some time before the banking industry will “fully recover and serve as a source of strength for the real economy.”
Just because Goldman is recommending this to its clients, however, doesn’t mean Goldman is putting its own money behind the new bull market in mergers and acquisitions. Indeed, it is just as likely that Goldman is preparing to short the very takeover stocks it is touting to the public, just as it did in the late stages of the real estate and mortgage bubble. It’s all perfectly legal. And it is perfectly in keeping with what we know about Wall Street’s most successful firms, which is that if they stumble on a profitable trading strategy, the last person they are likely to share it with is you.
What we’re witnessing here is pretty simple: another bubble in financial assets. All that “liquidity” created by the Federal Reserve and other central banks has accomplished its task and prevented a global financial meltdown.
Prior to the depression of the 1920s, there was a mortgage loan product used by many of the American people, known as the interest only loan. Why did this long disappear? And why has it suddenly reappeared? Let’s take a moment to answer each question, and hopefully provide some food for thought.
During the 1920s and into the early 30s, many of the citizenry of this country chose to live above their means. They chose the interest only loan because it allowed them to purchase a larger home for less money. What happened when the stock market crashed and jobs were scarce, and there was no income? Many of these people were left without homes; as they had chosen to simply pay the interest on their mortgage there was no equity built into their homeownership. When no equity builds, and the income ceases, the bank forecloses and residents or forced from their homes.
Letter to NY Times, September 5, 2005: In the 1920’s, when there was a great residential real estate boom not unlike today’s, most residential mortgages were interest-only — referred to then as nonamortizable. And they came due at a time when the bubble had burst. Consequently, the value of the collateral (the home) was less than the balance of the mortgage, the owners could not refinance the mortgage and they lost their homes.
It is an inexact parallel, but an informative and chilling one nonetheless, especially because the adjustable-rate feature of today’s mortgages makes the risk of default even greater.
A Treasury rule on loan modifications riles the securities market. One reason the MBS market blossomed in the first place is because investors who bought a mortgage security believed that first mortgages were senior to second liens. In the event of a foreclosure, second liens would be extinguished first and holders of the first mortgage would get what was left because that’s what the contract said.
This changed in April when Treasury announced that instead of foreclosing on delinquent borrowers and wiping out second liens, mortgage servicers (mainly the biggest banks) would be given incentives to modify both loans, thereby spreading the losses. In mid-August, Treasury announced the details of its “Second Lien Modification Program,” or 2MP.
Treasury’s other political goal, as Mr. Fink [Blackrock CEO] points out, is to help the banks avoid more losses. U.S. financial institutions hold almost $1.1 trillion in second liens, also known as home equity loans or “helocs.” Some 42% of all helocs are held by four banks—Bank of America, J.P. Morgan Chase, Citibank and Wells Fargo. Since in a traditional mortgage foreclosure the second loan is usually wiped out, these big four banks have an exposure in the hundreds of billions of dollars.
Mortgage-finance consultant Edward Pinto points out that these same lenders have about $800 billion of first mortgage loans on their books, representing 8% of the total outstanding first mortgage loans in the U.S. But they also act as the servicers on almost 60% of total first mortgages, which means they handle negotiations on loan modifications. Thus when a home owner asks one of the big four banks to redo a loan, the banker may have a greater interest in saving the home-equity loan than in protecting the creditors of the first mortgage… [Once again Congress and solons are bailing out the big banks.] The mid-Atlantic manufacturing sector continued to show signs of recovery in October.
The Federal Reserve Bank of Philadelphia said its index of general business conditions moved to 11.5 in October from 14.1 in September and from 4.2 the month before. The index has now remained positive for three consecutive months.
Positive readings indicate growth, although October’s reading fell below economists’ expectations for a 12.0 reading.
Manufacturing executives reported marginal growth this month, said Michael Trebing, economist with the Philadelphia Fed.
The Philadelphia Fed report comes as the nation’s factory sector continues to improve. In September, activity in the overall U.S. manufacturing sector expanded for the second consecutive month, a hopeful sign the economy is getting back on its feet.
In the report, the bank found largely positive developments.
The October new orders index was 6.2 from 3.3 the month before, while the shipments index was 3.3 after September’s 8.2. Hiring remained weak, though there are signs that widespread declines have moderated considerably. The employment index was at -6.8 from September’s reading of -14.3 and after a -12.9 in August.
Inflation heated up, with the prices paid index hitting 21.3 from 14.9 in September. The October prices received index was -4.3 from -10.6 in the prior month.
Inventories continued to fall, with that reading coming in at -31.8 from -18.1 in September. Meantime, the future general activity index remained positive for the 10th consecutive month but decreased from 47.8 in September to 39.8, its lowest reading since April. “Firms are still optimistic, but many are still cautious,” Trebing said.
The Philadelphia report came on the heels of a much stronger than expected report earlier Thursday on manufacturing in the New York area. The New York Fed’s Empire State business conditions index jumped almost 16 points in October to 34.57 from 18.88. The survey’s employment index rose to 10.39 from -8.33 in September.
The number of U.S. workers filing new claims for jobless benefits decreased last week to the lowest in nine months, a hopeful sign for a lousy job market.
Total claims also fell.
Initial claims dropped by 10,000 to 514,000 in the week ended Oct. 10, the U.S. Labor Department said in its weekly report Thursday.
Economists surveyed by Dow Jones Newswires had expected a level of 515,000 new claims for the week of Oct. 10
The last time initial claims were as low as 514,000 was the week ending Jan. 3, 2009, when 488,000 new claims for benefits were made.
The Labor Department revised down the number of new claims filed the previous week, ending Oct. 3, to 524,000 from 521,000.
The four-week moving average of new claims tumbled by 9,000 to 531,500 last week, down from the previous week’s revised figure of 540,500.
New claims have gone down three times in the past four weeks, which is a good sign for a weak labor market that is threatening the economy as it pulls out of the longest and deepest recession since World War II. Since the slump began in December 2007, the U.S. has lost 7.2 million jobs, including 263,000 last month. Most economists believe a recovery has begun and that gross domestic product grew in the second half of the year. But fears about unemployment among consumers aren’t helping the economy. Their spending makes up 70% of gross domestic product.

Fox News Inspired Protesters Locked In Voodoo Trance

Kurt Nimmo
October 18, 2009
It’s another pitiful example revealing that the Tea Party movement is being played. Drew Zahn, reporting for WorldNetDaily, covers protesters around the country this past weekend “challenging the mainstream media to drop a perceived news bias and give fair coverage to the growing movement against Obama administration policies.”

Supporters of Fox News and Glenn Beck’s 9-12 movement accused the media in general of biased reporting on Big Government issues like health care reform and stimulus spending, according to Zahn. They carried signs reading “State Run Media,” “Take the Left From Your Slant,” and “Journalism Malpractice – Just Report the Facts.”
They went after CNN, ABC, MSNBC, local news media and newspapers. Fox News was not included in the protest.
Infowars and Prison Planet have noted on numerous occasions that CNN is a branch office of the Pentagon and the Pentagon is hardly a liberal or leftist organization. The death merchant General Electric owns NBC. GE and Microsoft, the software corporation founded by the eugenicist Bill Gates, jointly own MSNBC. Mega-transnational corporation Westinghouse — also dedicated to the death merchant business — owns CBS. ABC, owned by Disney, gave $640,000 to the neocons and Bush election campaign.
Large transnational corporations are not liberal or leftist and do not subscribe to socialism or Marxism, as the protesters claim. However, they do subscribe to big government, so long as they are part of the arrangement.
Obamacare is not about socialism. It’s about mega-corporations gaining market share at gunpoint. TheBaucus version of Obamacare was written by a senior aide, Liz Fowler, a former VP for Public Policy and External Affairs at WellPoint, a health insurance company which is the largest member of Blue Cross and Blue Shield.
According to Rep. Dennis Kucinich from Ohio, the uproar over private versus public health insurance options is really a ruse to cover up a proposal for taxpayer-funded subsidies that will be paid to the billion-dollar private insurance industry.
It would seem the protesters are locked in a Fox News generated voodoo trance. Obama administration policies are not significantly different than those of the Bush administration. Goldman Sachs and the banksters controlled the Bush administration the same way they now control the Obama administration.
Henry Paulson, Bush’s Treasury Secretary, was the Chairman and Chief Executive Officer of Goldman Sachs. Bush’s chief of staff, Josh Bolten, and the chairman of the Commodity Futures Trading Commission, Jeffery Reuben, were Goldman operatives. Stephen Friedman, who briefly headed the White House National Economic Council, came from Goldman and then went back. Goldman hired Robert Zoellick, who stepped down as the US deputy secretary of state, and Faryar Shirzad, who worked as one of Bush’s national security advisers.
The 9-12 and hijacked Tea Party movements demand an end to Big Government schemes. Case in point, Obama’s “stimulus” boondoggle. If you read between the lines you will soon discover this scheme has nothing to do with socialism, Marxism, or mitigating the effects of the bankster engineered depression on the average person. It’s all about enriching the bankers and corporations at the expense of blindsided plebs.
It’s about expanding the national debt. “The Obama administration economic stimulus package is going to force the Treasury to borrow approximately $2.5 trillion in 2009 and another $4 trillion in 2010, with the result of increasing the current $10 trillion national debt by 65 percent in just two years,” writes Jerome Corsi. “If the Obama administration increases the national debt by 65 percent every two years, the debt will be $16.5 trillion in 2010 and $27.225 trillion by 2012, the year of the next presidential election.”
George Bush increased the national debt by more than $4 trillion during his reign, the largest increase in U.S. history. On the day Bush took office, the national debt stood at $5.727 trillion and by the time he exited it had ballooned to more than $9.849 trillion, a 71.9 percent increase.
In the video above, you will see no placards calling George Bush a Marxist.
How does Congress pay for a stimulus that stimulates nothing except astronomical debt into perpetuity? It turns to the Federal Reserve. The banksters who own the Fed loan the money to the government with interest. The money does not exist. It is created out of thin air and entered as numbers in computers by the banksters and then loaned to the government. Interest on the debt now stands at more than $12 trillion. That’s more than $1.2 billion per day.
So long as protesters and activists engage in silly theatrics — calling the Pentagon’s disinfo operation and Obama’s Goldman Sachs operatives Marxist — the cancer will continue to metastasize and eventually destroy the country.
Instead of yelling at NBC talking heads at 30 Rockefeller Plaza in New York, they need to protest at David Rockefeller’s address and that of his fellow banksters at Goldman Sachs and JP Morgan.
They also need to stop taking marching orders from Glenn Beck and Fox News.

The Rich Have Stolen The Economy

Paul Craig Roberts 
October 19, 2009

Bloomberg reports that Treasury Secretary Timothy Geithner’s closest aides earned millions of dollars a year working for Goldman Sachs, Citigroup and other Wall Street firms. Bloomberg reports that none of these aides faced Senate confirmation. Yet, they are overseeing the handout of hundreds of billions of dollars of taxpayer funds to their former employers.
featured stories   The Rich Have Stolen the Economy
food stamps
A record number of Americans, more than one in nine, are on food stamps.
The gifts of billions of dollars of taxpayers’ money provided the banks with an abundance of low-cost capital that has boosted the banks’ profits, while the taxpayers who provided the capital are increasingly unemployed and homeless.
JPMorgan Chase announced that it has earned $3.6 billion in the third quarter of this year.
Goldman Sachs has made so much money during this year of economic crisis that enormous bonuses are in the works. The London Evening Standard reports that Goldman Sachs’ “5,500 London staff can look forward to record average payouts of around 500,000 pounds ($800,000) each. Senior executives will get bonuses of several million pounds each, with the highest paid as much as 10 million pounds ($16 million).”
In the event the banksters can’t figure out how to enjoy the riches, the Financial Times is offering a new magazine — “How To Spend It.” New York City’s retailers are praying for some of it, suffering a 15.3 percent vacancy rate on Fifth Avenue. Statistician John Williams (shadowstats.com) reports that retail sales adjusted for inflation have declined to the level of 10 years ago: “Virtually 10 years worth of real retail sales growth has been destroyed in the still unfolding depression.”
Meanwhile, New York City’s homeless shelters have reached the all-time high of 39,000, 16,000 of whom are children.
New York City government is so overwhelmed that it is paying $90 per night per apartment to rent unsold new apartments for the homeless. Desperate, the city government is offering one-way free airline tickets to the homeless if they will leave the city and charging rent to shelter residents who have jobs. A single mother earning $800 per month is paying $336 in shelter rent.
Long-term unemployment has become a serious problem across the country, doubling the unemployment rate from the reported 10 percent to 20 percent. Now hundreds of thousands more Americans are beginning to run out of extended unemployment benefits. High unemployment has made 2009 a banner year for military recruitment.
A record number of Americans, more than one in nine, are on food stamps. Mortgage delinquencies are rising as home prices fall. According to Jay Brinkmann of the Mortgage Bankers Association, job losses have spread the problem from subprime loans to prime fixed-rate loans. On a Wise, Va., fairgrounds, 2,000 people waited in lines for free dental and health care.
While the U.S. speeds plans for the ultimate bunker-buster bomb and President Obama prepares to send another 45,000 troops into Afghanistan, 44,789 Americans die every year from lack of medical treatment. National Guardsmen say they would rather face the Taliban than the U.S. economy.
Little wonder. In the midst of the worst unemployment since the Great Depression, US corporations continue to offshore jobs and to replace their remaining US employees with lower paid foreigners on work visas. While jobs decline, high rates of legal immigration continue, bringing more competition for fewer jobs.
The offshoring of jobs, the bailout of rich banksters and war deficits are destroying the value of the U.S. dollar. Since last spring, the U.S. dollar has been rapidly losing value. The currency of the hegemonic superpower has declined 14 percent against the Botswana pula, 22 percent against Brazil’s real and 11 percent against the Russian ruble. Once the dollar loses its reserve currency status, the U.S. will be unable to pay for its imports or finance its government budget deficits.
Offshoring has made Americans heavily dependent on imports, and the dollar’s loss of purchasing power will further erode American incomes. As the Federal Reserve is forced to monetize Treasury debt issues, domestic inflation will break out. Except for the banksters and the offshoring CEOs, there is no source of consumer demand to drive the U.S. economy.
The political system is unresponsive to the American people. It is monopolized by a few powerful interest groups that control campaign contributions. Interest groups have exercised their power to monopolize the economy for the benefit of themselves, the American people be damned.

Fall of The Republic Exposes How Financial Terrorists Are Imposing Global Enslavement

Paul Joseph Watson
Prison Planet.com
Monday, October 20, 2009
Fall Of The Republic Exposes How Financial Terrorists Are Imposing Global Enslavement 191009top2
While the criminals who have hijacked the world financial system continue to pose as saviors and swallow up more power in the name of fixing the very problems that they created, Alex Jones latest documentary blockbuster Fall Of The Republic exposes the real agenda of the financial terrorists who have bankrupted America in their quest for world domination and global serfdom.
The majority of Fall Of The Republic is devoted to an in-depth investigation into how the vultures of global corporatism exploited the engineered financial meltdown to begin the step by step implementation of their economic new world order – a parasitical financial system expertly crafted to benefit the elite few while destroying the living standards of the middle class and sinking the planet into a new dark age.
The film opens with an analysis of Brand Obama and why the cult of personality that has been built around the President makes him far more of a danger to America than Bush could ever be.
Max Keiser, G. Edward Griffin, John Perkins, Wayne Madsen and others discuss how Obama’s continuation of the Bush financial policy proves that he is merely a front man for the same banking interests that have ruled America since the introduction of the Federal Reserve in 1913.
The film explains how corporations were allowed to be transformed from relatively small and scrutinized operations to the position they occupy today, transnational behemoths that dictate the rules to governments, the press and the people through their monopolized ownership structures.
The goal of the men who run these global corporations and the banking oligarchies that are allied with them is the complete subjugation of free enterprise in America and a general lowering of living standards via Malthusian policies of micromanagement and oppression, as the film documents.
The demise of the dollar and its replacement with a global currency controlled solely by the IMF and the World Bank is the next step in the agenda to centralize world financial power into the hands of a rapidly decreasing inner circle of elitists.
The second half of the film exposes Obama’s lies in a way yet to be witnessed in documentary format, surpassing even The Obama Deception in its devastating demolition of the notion that Obama represented a “change” from the policies enacted under George W. Bush.
From executive signing statements to the continuation of war and electronic surveillance, to his hiring of lobbyists, to prosecuting those who tortured, and particularly his promise to freeze taxes for those who earn below $250,000 a year, Obama has betrayed every promise he made before even reaching the end of his first year in office.
fall of the republic
Crucially, Fall Of The Republic devotes times to an exploration of how all this tyranny is being accomplished with relatively little unrest on behalf of the masses, through social engineering and sophisticated public relations brainwashing being carefully massaged into popular culture, Hollywood, sports, and television.
Perhaps the most important segment of the film is devoted to how the fraud of man-made global warming is being interwoven into every aspect of our lives in order to mandate the plan for a global carbon tax along with stifling levels of bureaucracy, regulation and control.
Climatologist Timothy F. Ball, Ph. D explains how the establishment has used intimidation, smear and fear as a means of silencing skeptical voices by equating any doubt towards man-made global warming with holocaust denial.
Webster Tarpley highlights how radical environmentalists and fanatic Malthusians now find themselves in positions of key advisory roles to Presidents and Prime Ministers, overseeing the agenda to equate the life cycle itself as an assault on Mother Earth while calling for genocidal policies of mass population reduction.
Fall Of The Republic expertly exposes how cap and trade and the carbon trading market being set up by people like Al Gore and the Rothschild family will benefit to the tune of billions and eventually trillions of dollars the very people who are claiming it is needed to combat the manufactured hoax of man-made climate change.
The film documents how the legislation being passed in the name of combating climate change does little other than crush free enterprise and introduce nightmare levels of federal government power while doin
The final topic covered in the film is the issue of how local and state law enforcement is being taken over at the federal level as cops are trained to be secret police and treat every American citizen as a potential terrorist. The movie exposes how preachers, boy scouts and girl scouts, and the public in general are being trained to spy on the American people in federally operated Stasi-style informant programs.
Northcom is moving hundreds of thousands of active duty troops inside the United States to deal with expected unrest as the takeover of the country accelerates, allowing the nation to be looted and stolen in broad daylight.
The film ends by offering the viewer a choice. Either American citizens can follow the hundreds of nations that have fallen to tyranny over the last few centuries alone, or they can draw a line in the sand and say enough is enough by beginning to take back and restore what once was America.
Future generations will look back at this moment in history and learn about how it was either the time when the planet fell into the merciless grip of a high-tech tyranny, or when free-thinking people all over the globe rose in unison to defend the most basic rights of mankind against the rampaging, bloodthirsty, inhumane and dictatorial force of the new world order.
Fall Of The Republic is just one of many tools that will aid the planet in waking from its collective slumber and coming to the understanding that if we don’t stop this agenda in its tracks now, a never-ending dark age for humanity could once again envelop the world and make our current problems look like a relative utopia in comparison with what the global elite have planned for us over the next 100 years.
Fall Of The Republic lands on October 21st. Order the DVD here or watch the film in high quality online at Prison Planet.tv by clicking here to subscribe.
Watch all the trailers for Fall of The Republic below.