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Old 09-19-2008, 06:11 PM   #1
Zynox
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Default Zynox Blogs the Fiscal Meltdown

Greetings,

Within this thread I will post all web finds that document the MELTDOWN of the Economic House of Cards. I monitor this anyways, in real time, and figure I might save folks some time and leverage my efforts.

If you haven't considered precious metals as a transition resource, to preserve any wealth you hold, or as a mechanism to support having something to work with to build anew after the economic collapse, please reference the Gold & Silver Q & A thread at:

http://www.projectavalon.net/forum/s...ead.php?t=2411


Let us begin -

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http://ap.google.com/article/ALeqM5i...k_nPQD939OU280

WASHINGTON (AP) — Senate Banking Committee Chairman Chris Dodd says the United States may be "days away from a complete meltdown of our financial system" and Congress is working quickly to prevent that.
(Zynox - good luck with that, ya'll seem right on top of the situation.)

Dodd said Friday that Democrats and Republicans on the Hill are coming together to support the Bush administration's developing plan to buy up bad debt from financial institutions and get the credit system working again. Dodd told ABC's "Good Morning America" that the nation's credit is seizing up and people can't get loans.


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http://globaleconomicanalysis.blogsp...-illiquid.html

US Taxpayer: A Giant Dumpster For Illiquid Assets

Paulson, Bernanke, and Congress are conspiring to make the US taxpayer the fall guy for financial stupidity by banks and brokers. Congress is now willing to ram through legislation at the last moment, even though Senate Majority Leader Reid Says "No One Knows What to Do".
(Zynox - perhaps all incumbants would consider stepping down, and quit working on wealth transfer schemes, as a start?)

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http://jsmineset.com/

Potential Infinite Bailouts To Explode Money Supply / Jim Sinclair

Dear Friends,

1. Today's reported potential infinite bailout of all and any portends, if adopted, is the largest increase in dollars outstanding since the Jurassic Age.

2. It closely models actions undertaken regarding the production of currency liquidity seen in the "Weimar Republic."

3. It is reported now that more than 1000 hedge funds are on the rocks. This has the potential for a significant financial impact.

4. The only way to hide the numbers from the statistics produced by the suspected actions of the Fed is to value the indebtedness purchased at 100%, claiming a wash transaction.

5. The only conclusion is that when the smoke clears and the advertised actions have been adopted, nothing more dollar negative than this has ever occurred due to the potential expansion of T bills and therefore dollar supply explosion.
(Zynox - Hello Amero?)

6. Gold is the only currency with no liability attached to it which, as you have seen recently, will be selected as the currency of the people.
(Zynox - Jim is a seasoned voice of reason. Gold was removed as sound money to silence the voice of the people and further enslave.)

Respectfully yours,
Jim

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~ Namaste / Got Spirituality and Gold? ~

Last edited by Zynox; 09-19-2008 at 06:19 PM.
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Old 09-19-2008, 06:24 PM   #2
JSErwine
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Default Re: Zynox Blogs the Fiscal Meltdown

WTF is going on?

dollar -.008%

gold -32.50


This makes no sense at all.
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Old 09-19-2008, 07:09 PM   #3
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

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http://www.gold-eagle.com/editorials...oon091708.html

INVESTING IN CHAOS - THE STORM IS HERE

Darryl Robert Schoon

All Swans Are Black

Saturdays and Sundays
Used to be fun
Weekends were holidays
Perhaps time in the sun

But now it’s all changing
Changing for worse
As bankers are draining
The public’s thin purse

Northern Rock Fannie Mae
Freddie Mac and Bear
What’s next we all wonder
Who will it be where?

Lehman’s a lemming
As was Bear Stearns
WaMu AIG
They’re all gonna burn

Only one thing is for certain
And that will be when
The next bank that fails
It’ll be on a weekend

Last weekend started early for Timothy Geithner, President and CEO of the New York Federal Reserve. At 6 pm, Friday, Geithner called an emergency meeting to discuss the possible collapse of Wall Street investment bank, Lehman Bros.

The troubles of Lehman Bros had worsened during the previous week and the current Fed playbook dictated a solution be found on the weekend to calm financial markets opening Monday; but, this weekend, the Fed playbook came up empty, Lehman Bros. declared bankruptcy.
(Zynox - The Playbook is "His-Story")

It’s official. The storm is here.

There is $6.84 trillion on deposit in US banks; but US banks have only $273.7 billion cash on hand. The banks cannot possibly pay back depositors all their money as only 4 % of depositors’ funds are actually available. The rest has been loaned out, i.e. to real estate developers, etc.
(Zynox - This is the planned wealth transfer.)

The safety net of both bankers and depositors may prove inadequate in the days ahead. Be forewarned."

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http://www.gold-eagle.com/editorials...ene091708.html

ALERT! - LAST CHANCE TO TRADE YOUR PAPER GOLD AND SILVER FOR PHYSICAL

Richard J. Greene

There have been several highly visible clues that accepting paper promises from some of the leading financial counterparties in the US may be lethal to your financial health. If you have any common sense at all you have to recognize that the official pricing of gold and silver that is accepted in the industry is a complete farce. With COMEX silver currently trading at $10.44 per ounce you can not buy physical silver any where near that price. Silver bars are trading more than $3 higher than that price and the best price I have seen for junk silver bags is close to $2 over that price. There is a real shortage of silver moving to refiners.

Bill Murphy of GATA on Friday spoke about a recycler offered $16 per ounce after deciding to sit on his product after seeing the low spot price on the COMEX which deals are settled at.

Bullion dealers are constantly sold out and can sell product that walks in the door before the seller even leaves the premises at way over spot. Some dealers are even getting $20 - $25 per one ounce coin with the quoted spot price at $10 and change."
(Zynox - This is the beginning of transition, may sound money follow!)

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~ Namaste / Got Sovereignty? ~
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Old 09-19-2008, 08:40 PM   #4
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

If we look below the surface, this post is NOT off-topic, to this thread.

Peace leads to prosperity, while war leads to destruction, on every level, including economically. This is from part 1 of several at Ron Paul's GOVERNMENT WEBSITE. This is one expressive free thinking, speaking and acting soul, laying in out, for those with eyes to see, and ears to hear.

~ Namaste / Got Gold? ~

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http://www.house.gov/htbin/blog_inc?...ngdetail.shtml

In Government We Trust? Part 1

Many who agree with me on a lot of other issues, do not understand my enthusiasm for gold and sound money or why I spend so much time studying and talking about monetary policy. It's true that I talk about money differently than most, but the fact is sound money offers many benefits. For example – peace.

Ron Paul

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Old 09-19-2008, 09:03 PM   #5
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Default Re: Zynox Blogs the Fiscal Meltdown

Very helpful to find this in one place - thanks for taking the time to do this.
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Old 09-20-2008, 04:30 PM   #6
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Friends,

I am not finding much discussion in the news about the aftermath of the 'rescue', 'bailout' and other such US plans to 'stabilize' the markets and economy.

The very notion that a government can take any action to stabilize the economy and markets feels to be a paradox.

What can be done is to throttle a free market economy and manipulate it, often for orchestration of the next wealth transfer, in a long record and history, of wealth transfers.

When I read the below, I ask, what will it feel like to be the responsible party, a tax payer, once the below plan is implemented? Could the government believe that the taxpayer can shoulder the new obligations which will be forced upon struggling souls in the US, and throughout the world (as the US exports fiscal grief)? At what point has all blood been squeezed?
  • I feel there is an orchestrated plan of further wealth transfer.
  • The only responsible action I recognize is to dis-empower the system through maximum non-participation.
  • I feel it is proper to extract all personal wealth from the paper systems and convert to physical.

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http://biz.yahoo.com/ap/080920/financial_meltdown.html

Rescue plan seeks $700B to buy bad mortgages


Saturday September 20, 12:02 pm ET
By Julie Hirschfeld Davis, Associated Press Writer
Bush rescue plan seeks $700B for to buy bad mortgages, would raise limit on national debt

WASHINGTON (AP) -- The Bush administration is asking Congress to let the government buy $700 billion in toxic mortgages in the largest financial bailout since the Great Depression, according to a draft of the plan obtained Saturday by The Associated Press.

The plan would give the government broad power to buy the bad debt of any U.S. financial institution for the next two years. It would raise the statutory limit on the national debt from $10.6 trillion to $11.3 trillion to make room for the massive rescue. The proposal does not specify what the government would get in return from financial companies for the federal assistance.

"We're going to work with Congress to get a bill done quickly," President Bush said at the White House. Without discussing details of the plan, he said, "This is a big package because it was a big problem."

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~ namaste ~
__________________________________________________ _________
Please be advised that I am not any form of a professional or paid investment adviser and each individual reading or posting questions or answers is responsible for their own investment decisions.

Last edited by Zynox; 09-20-2008 at 04:35 PM.
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Old 09-20-2008, 05:45 PM   #7
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

In another thread, our friend Makani has posted the raw text of the proposed housing bailout legislation which may be enacted next week.

Quote:
Originally Posted by Makani View Post
RAW DATA: Text of Financial Crisis Legislation

FOX News has obtained a copy of the legislation Congress plans to move next week to avert a meltdown in the U.S. financial system. The following is the text of that legislation:

LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY

TO PURCHASE MORTGAGE-RELATED ASSETS

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
Quote:
Originally Posted by Zynox View Post
Thanks for the find.

The Section 8 segment seems to imply there will be no questioning allowed, and thus, further erosion of any, Any, ANY checks and balances.

~ namaste ~
It feels like the entire real estate realm may become even more complex, and that once a property enters any level of default, the past protections afforded through normal channels may be abandoned to the monolithic blackhole of "Section 8".

Does anyone in the District of Criminals recall that there shall be no law / legislation enacted which degrades the separation of three branches of US Government, besides those pesky Presidential Executive Orders?


This, my friends, is Anarchy (by the Government) on display, and their worst fear is that we choose to be(have) sovereign, and play in 'their' sandbox, as equals.


From The Prisoner:

"Who is #1", "I am #2, You are #6", "I am NOT a number, I AM A FREE MAN!"


Papers Please ... NO Questions Please.

~ namaste / Got Secure Title Without Encumbrances? ~

Last edited by Zynox; 09-20-2008 at 05:56 PM.
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Old 09-20-2008, 06:17 PM   #8
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Friends,

The below demonstrates that this isn't a Democrat or Republican event, the groundwork has been carefully and continually laid, a brick at a time (sounds masonic!). In this case, Sir Clinton and the Knights of the Broken Table legislated removal of a pesky rule.


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http://www.counterpunch.com/kaufman09192008.html

The Bi-Partisan Origins of the Financial Crisis
Shattering the Glass-Steagall Act

By WILLIAM KAUFMAN

If you're looking for a major cause of the current banking meltdown, you need seek no farther than the 1999 repeal of the Glass-Steagall Act.

The Glass-Steagall Act, passed in 1933, mandated the separation of commercial and investment banking in order to protect depositors from the hazards of risky investment and speculation. It worked fine for fifty years until the banking industry began lobbying for its repeal during the 1980s, the go-go years of Reaganesque market fundamentalism, an outlook embraced wholeheartedly by mainstream Democrats under the rubric "neoliberalism."

The main cheerleader for the repeal was Phil Gramm, the fulsome reactionary who, until he recently shoved his foot even farther into his mouth than usual, was McCain's chief economic advisor.

But wait . . . as usual, the Democrats were eager to pile on to this reversal of New Deal regulatory progressivism -- fully 38 of 45 Senate Democrats voted for the repeal (which passed 90-8), including some famous names commonly associated with "progressive" politics by the easily gulled: Dodd, Kennedy, Kerry, Reid, and Schumer. And, of course, there was the inevitable shout of "yea" from the ever-servile corporate factotum Joseph Biden, Barack Obama's idea of a tribune of "change"--if by change one means erasing any lingering obstacle to corporate domination of the polity.

This disgraceful bow to the banking industry, eagerly signed into law by Bill Clinton in 1999, bears a major share of responsibility for the current banking crisis. Here's the complete roll call of shame:

REPUBLICANS FOR (52): Abraham, Allard, Ashcroft, Bennett, Brownback, Bond, Bunning, Burns, Campbell, Chafee, Cochran, Collins, Coverdell, Craig, Crapo, DeWine, Domenici, Enzi, Frist, Gorton, Gramm (Tex.), Grams (Minn.), Grassley, Gregg, Hegel, Hatch, Helms, Hutchinson (Ark.), Hutchison (Tex.), Inhofe, Jeffords, Kyl, Lott, Lugar, Mack, McConnell, Murkowski, Nickles, Roberts, Roth, Santorum, Sessions, Smith (N.H.), Smith (Ore.), Snowe, Specter, Stevens, Thomas, Thompson, Thurmond, Voinovich and Warner. DEMOCRATS FOR (38): Akaka, Baucus, Bayh, Biden, Bingaman, Breaux, Byrd, Cleland, Conrad, Daschle, Dodd, Durbin, Edwards, Feinstein, Graham (Fla.), Hollings, Inouye, Johnson, Kennedy, Kerrey (Neb.), Kerry (Mass.), Kohl, Landrieu, Lautenberg, Leahy, Levin, Lieberman, Lincoln, Moynihan, Murray, Reed (R.L), Reid (Nev.), Robb, Rockefeller, Sarbanes, Schumer, Torricelli and Wyden.

REPUBLICANS AGAINST(1): Shelby.

DEMOCRATS AGAINST(7): Boxer, Bryan, Dorgan, Feingold, Harkin, Mikulski and Wellstone.

NOT VOTING: 2 REPUBLICANS (2): Fitzgerald (voted present) and McCain.

The House Democrats were no less enthusiastic in their endorsement of this invitation to plunder--the repeal passed there by a margin of 343-86, with the Donkey Party favoring the measure by a two-to-one margin, 138-69. Current House speaker Nancy Pelosi managed not to register a vote on this one, so great was her fear of offending her party's corporate paymasters even though she knew passage was a sure thing.

According to Wikipedia, many economists "have criticized the repeal of the Glass-Steagall Act as contributing to the 2007 subprime mortgage financial crisis. The repeal enabled commercial lenders such as Citigroup, the largest U.S. bank by assets, to underwrite and trade instruments such as mortgage-backed securities and collateralized debt obligations and establish so-called structured investment vehicles, or SIVs, that bought those securities. Citigroup played a major part in the repeal. Then called Citicorp, the company merged with Travelers Insurance company the year before using loopholes in Glass-Steagall that allowed for temporary exemptions. With lobbying led by Roger Levy, the 'finance, insurance and real estate industries together are regularly the largest campaign contributors and biggest spenders on lobbying of all business sectors [in 1999]. They laid out more than $200 million for lobbying in 1998, ' according to the Center for Responsive Politics. ' These industries succeeded in their two decades long effort to repeal the act. ' "

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More at the link.

Two parties, a democratic or republican government, not when the veils are lifted.

~ namaste / Got any Facts? ~

Last edited by Zynox; 09-20-2008 at 06:21 PM.
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Old 09-20-2008, 10:20 PM   #9
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Ron Paul Speaks Clearly on the $700,000,000,000 Bailout Proposal

(Look at all those zeros, Seven Hundred Billion, minimum.)

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http://www.usnews.com/blogs/the-home...-the-last.html

Ron Paul: This Bailout Won't Be the Last
September 19, 2008

What's your take on this huge financial bailout?
"It's more of the same. More debt and more inflation and more pressure on the dollar. Ultimately, although the markets are responding very favorably at the moment, I think it is going to be devastating to the dollar and to our financial situation in this country."

But don't we need to get these toxic assets off banks' balance sheets?
"Sure, they need to be removed. Somebody needs to suffer the consequences [but] not the taxpayer.

So instead of having taxpayers buy the bad debt, the market should take care of it by itself?
"Sure, prices need to go down. Bad debt needs to be eliminated. The taxpayer ought to be protected. Taxes ought to be lowered...We are following the same routine that we did in the Depression, and that is artificially try to keep prices up.

So you think the government should not have bailed out an y companies during this crisis?

"That would have been the best thing. It would have been painful, but housing prices would have come down sharper and faster, and it would have been over by now.

Will this bailout stabilize the crisis?
"I personally don't think so. It might be temporary, but no, there is much more involved. I mean, we are talking about trying to unwind trillions of dollars of derivatives . . . You have to get rid of all that stuff."

Will this bailout be the last?

"No, no. This won't be the last one. There will be something else later on. But that doesn't mean you might not have a few months of a reprieve. But it will continue."
(Zynox - I do not see any easy months left, but otherwise agree with Ron on every other point.)

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I have no other comments to add to Ron's words, they are self-evident.

~ namaste ~
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Old 09-20-2008, 10:54 PM   #10
Mike_Jetson
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Default Re: Zynox Blogs the Fiscal Meltdown

I just want it to coast along a little longer to get stuff together and at least finish renovating and maybe sell a house first and get a few K of gold before the inevitable worst comes. Enough of my friends have realised something is going on now so its a start
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Old 09-21-2008, 05:17 AM   #11
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Sometimes, visuals cut through the filters and veils more than words.

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Old 09-21-2008, 03:05 PM   #12
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Taxpayer to fund the Trashcan

For a really simplified view of what the $700 Billion and growing obligation to the taxpayer is about, I recommend viewing the image below, for a full minute, letting it sink into consciousness, before reading on.

As you read, get ready to figure out how you will be able to shoulder another $20k in 'taxes' ... perhaps we might start selling our organs.

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http://subprimeshowtime.wordpress.co...-of-all-scams/



In what is both the single most socialist move ever made by the US government, and the biggest robbery of US taxpayer since the creation of the union, the Fed and the Treasury have quickly realized who pays the government and acted quickly to ensure the survival of all the crooks on Wall Street. If anyone was at all confused about the puppet and master relationship between big business and DC, this shocking slight of hand should leave no doubt whatsoever who’s in control.

As my good friends at the Housing Timebomb pointed out, the last time this amazing scam was pulled off was during the savings and loans crisis, and the RTC cost the taxpayer $124.6 billion, or roughly $400 for every person living in the US of A.

But this meltdown makes the S&L blip look like the boom era, since we’re already $6 trillion in the hole, and that’s just the tip of the iceberg ($20,000 per person already).

What in holy hell is an RTC?

(Zynox - Read on, my friends, if you want to have a meltdown roadmap.)


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~ namaste ~
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Old 09-21-2008, 10:11 PM   #13
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Greetings Friends,

Chinese 'Greeting/Curse' - May you live in interesting times.

Zynox's Blessing to All - May you have taken prudent steps to surf the transitions.[/COLOR]

There will not be much more to post here, except very intense blow by blow stories of the results of the collapse of the fiscal house of cards. The hammer is raised, and if it falls this week, the fallout will be known to each in their own way.

(I AM SHOUTING THIS: )

MAY WE ALL RESPOND WITH COMPASSION TO EACH OTHER, FEW HERE ARE CONNECTED TO THE PUPPET MASTERS, AND MOST EVERYONE YOU MEET IS NOT DIRECTLY CULPABLE FOR THIS MESS. MAY WE FIND A NEW DAWN IN A NEW PARADIGM, MAY CHAOS FACTORS (or Vibrant Humans, or ETs or Angels intervene) DIVERT THIS ORCHESTRATED 'EVIL'.


To count on an intervention would be to give away our power and delay final preparations.

~ namaste ~


First:

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http://business.timesonline.co.uk/to...cle4795072.ece

STAFF at Lehman’s New York office who helped to cause the world’s biggest corporate bankruptcy are to share in a $2.5 billion bonanza.

The bonus, which has been described by London staff as a “scandal” has been pledged by Barclays Capital, the British-based bank that last week acquired Lehman’s American operation and took on 10,000 staff.


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FINAL ACT:


The Half Past Human's 'Event' (Watch the emotional release build for months from this event ...)

I have nothing more to add, no more bold, no more color, no more highlights or underlines ... I watched this single story for three days, and posted several times, but there is no more succinct view than the below.


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http://housingpanic.blogspot.com/200...-it-is-at.html

The end of America as you knew it is at hand. It was a good 232 year run. But it is about to be stolen in the night.


America is about to be legally stolen from the people, and given to a very small group of powerful men.

Yes, HP can be a bit dramatic sometimes.

This is not one of those sometimes.

The Patriot Act of Finance, otherwise known as Paulson's $700 billion bailout bill, if passed in its present form will be the nail in the coffin for an America by, for and of the people.

Just like the Patriot Act appeared to be written before 9/11, so does this Patriot Act of Finance appear to be written before the housing crash. And yes, both were rushed through a panicked Congress and complacent media in the middle of the night.

A nation founded by the people, for the people will be given to a very select group of bankers. Legally. Without a shot fired. Because Americans were too distracted and too dumb to know what was going on.

Brilliant.

Here's how it will be done:

1) The key line in the proposed bill is this one:

"The Secretary's authority to purchase mortgage-related assets under this Act shall be limited to 700,000,000,000 dollars outstanding at any one time"

What this does is give Hank Paulson, acting as an emperor with unchecked control over the nation's treasury, a $700 billion line of credit in which he can buy up toxic debt for whatever price he'd like to pay, $700 billion at a time.

In other words - he could buy trillions. Trillions and trillions and trillions. Buying and selling, buying and selling.

He can sell the junk he buys from his banker friends for whatever price he wants, saddling the taxpayers with the loss. He keeps this process going, using his $700 billion credit card. Buy for 60 cents on the dollar, sell for 30 cents on the dollar. Buy for 80 cents on the dollar, sell for 5 cents on the dollar. He's in charge.

$700 billion folks IS JUST THE LINE OF CREDIT. He can purchase trillions and trillions of bad debt with this credit card, as long as only $700 billion is OUTSTANDING at any one time.

2) Hank Paulson, CEO of Goldman Sachs on leave, has complete and total control over the nation's treasure. He would be unchecked by Congress, unchecked by the President. He will be king. Here's the text:

"The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation"

Using this power, Hank Paulson of Goldman Sachs could pay Goldman Sachs anything he wanted for their mortgage assets. Let's say the market value was 20 cents on the dollar. Hank Paulson could pay them 100 cents on the dollar. Its his decision and his alone. No oversight. No limitations. Hank Paulson could simply give the nation's treasure to Goldman Sachs.

Get it now?

3) Deputizing the banks and investment banks as "agents of the government". Seriously. Here's the text:

"Designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them"

4) Have no outside control over the firesale of assets and loss to the taxpayer. Again, Hank Paulson and Hank Paulson alone shall be in control. No auditors. No oversight. No multiple bids. No nothing. Hank Paulson and Hank Paulson alone. Here you go:

"Sale of Mortgage-Related Assets. The Secretary may, at any time, upon terms and conditions and at prices determined by the Secretary, sell, or enter into securities loans, repurchase transactions or other financial transactions in regard to, any mortgage-related asset purchased under this Act."

5) Hank Paulson has final say. Hank Paulson knows what's best. Hank Paulson cannot be reversed. Hank Paulson cannot be sued. Hank Paulson is king.

"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency"

So, what can you do? Normally here I'd say contact your corrupt Congressman or Senator. Contact the media. But folks, Congress has been bought. The media have been bought.

The American people have lost.

Deal with it.

So unless there's rage in the street, which there won't be - the new Fall TV season is starting - it's over. They win. In eight short years, they took everything they wanted. And nobody could stop them.

The only hope, for the hopeful? That we can run out the clock, and this bill doesn't pass until Bush and Paulson are gone. But if that's the case, and the bill does pass after January 2009, then the question is - who do you trust more - the outsider or the insider. And with this much on the line, will the outsider be allowed to win?

If this bill does pass ASAP, well, then watch Paulson get busy with his new credit card as fast as he can. He only has four more months. He'll be buying up crap as fast as he can in a desperate and reckless orgy of greed.

Regardless of how this plays out, prepare the best you can. Know what is happening in your former country, and do what is best for you and your family to survive.

I'm off to go find my tin foil hat now. I'm not usually one for conspiracy theories.

Until now.

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Last edited by Zynox; 09-21-2008 at 10:17 PM.
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Old 09-21-2008, 10:58 PM   #14
Shellie
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Default Re: Zynox Blogs the Fiscal Meltdown

Thanks Zynox.

This just emphasizes the importance of many of the things Projects Camelot and Avalon are here to help us with- finding support and help groups of sane and informed people to help ride out this mess and all the others that will keep coming for around the next 5-10 years. It is not enough to know what is happening; we have to be able to see the bigger picture in all of this. An Illuminati conspiracy is one big umbrella that a lot of this falls under; but there is an inter-galactic and inter-dimensional umbrella of mixed malevolence, benevolence and cycles of fate that hangs over even the Illuminati.

We must never remember that (as my mother puts it) "It always gets worse before it gets better". We can never lose hope of all we will gain after this is done and through. We are experiencing the birth pains of a whole new age. IT WILL HURT. But it is easier to endure when we anticipate the outcome. Everything that is broken with the system, our civilization, our souls, the economy, and the earth is going to have a new chance to heal.

We are where we are supposed to be. Individually and collectively. There is no point in scrambling around trying to plug up every hold in the damn- just get out of the way and let it crumble. And then, enjoy the landscape without some big ugly damn in the way!
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Old 09-22-2008, 03:28 AM   #15
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Folks,

You had access to this here earlier, but now, the really lucid economic thinkers are posting their cautions and warning muses (I'm just a touch more reactionary and I come 'prematurely' ....)

************************************************** *

http://www.nakedcapitalism.com/2008/...ollar-may.html

Quelle Surprise! Traders Say Dollar May Be "Crushed" By Bailout Plan

Our mantra of late has been that the serial bailout plans from the Treasury and Fed will undermine the US's AAA rating and exact a considerable toll on the dollar.

Bloomberg reports that this view is on its way to becoming conventional wisdom among traders. And trashing the dollar will have decidedly nasty effects of food and energy prices, further pressuring an already deteriorating economy.

From Bloomberg:

Treasury Secretary Henry Paulson's plan to end the rout in U.S. financial markets may derail the dollar's three-month rally as investors weigh the costs of the rescue.

The combination of spending $700 billion on soured mortgage-related assets and providing $400 billion to guarantee money-market mutual funds will boost U.S. borrowing as much as $1 trillion, according to Barclays Capital interest-rate strategist Michael Pond in New York. While the rescue may restore investor confidence to battered financial markets, traders will again focus on the twin budget and current-account deficits and negative real U.S. interest rates.

``As we get to the other side of this, the dollar will get crushed,'' said John Taylor, chairman of New York-based International Foreign Exchange Concepts Inc., the world's biggest currency hedge-fund firm, which manages about $15 billion.

The dollar fell against 14 of the world's most-traded currencies on Sept. 19, including the euro, as Paulson unveiled the plan, while the Standard & Poor's 500 Index rose 4 percent....

************************************************** *

http://www.nakedcapitalism.com/2008/...y-bailout.html

Why You Should Hate the Treasury Bailout Proposal

A mere two weeks ago, the Fannie/Freddie rescue was called "the mother of all bailouts" by some commentators. If the plans of the Administration come to fruition, it will shortly be surpassed by the $700 billion mortgage rescue plan proposed by Hank Paulson late last week.

The increase of the request from the initial $500 billion and the release of the shockingly short, sweeping text of the proposed legislation has lead to reactions of consternation among the knowledgeable, but whether this translates into enough popular ire fast enough to restrain this freight train remains to be seen.

First, let's focus on the aspect that should get the proposal dinged (or renegotiated) regardless of any possible merit, namely, that it gives the Treasury imperial power with respect to a simply huge amount of funds. $700 billion is comparable to the hard cost of the Iraq war, bigger than the annual Pentagon budget. And mind you, $700 billion is not the maximum that the Treasury may spend, it's the ceiling on the outstandings at any one time. It's a balance sheet number, not an expenditure limit.

But here is the truly offensive section of an overreaching piece of legislation:

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.



This puts the Treasury's actions beyond the rule of law. This is a financial coup d'etat, with the only limitation the $700 billion balance sheet figure. The measure already gives the Treasury the authority not simply to buy dud mortgage paper but other assets as it deems fit. There is no accountability beyond a report (contents undefined) to Congress three months into the program and semiannually thereafter. The Treasury could via incompetence or venality grossly overpay for assets and advisory services, and fail to exclude consultants with conflicts of interest, and there would be no recourse. Given the truly appalling track record of this Administration in its outsourcing, this is not an idle worry.

But far worse is the precedent it sets. This Administration has worked hard to escape any constraints on its actions, not to pursue noble causes, but to curtail civil liberties: Guantanamo, rendition, torture, warrantless wiretaps. It has used the threat of unseen terrorists and a seemingly perpetual war on radical Muslim to justify gutting the Constitution. The Supreme Court, which has been supine on many fronts, has finally started to push back, but would it challenge a bill that sweeps aside judicial review? Informed readers are encouraged to speak up.


************************************************** *

~ namaste ~
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Old 09-22-2008, 03:36 AM   #16
Love/Light 13
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Post Re: Zynox Blogs the Fiscal Meltdown

it is now clear that the North American Union is for real. The FED is destroying the dollar, knowingly or unknowingly, and paving the path for the famed "Amero", the North American version of the Euro. I don't think Americans will let this stand, but time will tell...........


************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"
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Old 09-22-2008, 03:44 AM   #17
Zarathustra
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Default Re: Zynox Blogs the Fiscal Meltdown

[QUOTE=Love/Light 13;24420]it is now clear that the North American Union is for real. The FED is destroying the dollar, knowingly or unknowingly, and paving the path for the famed "Amero", the North American version of the Euro. I don't think Americans will let this stand, but time will tell...........


************

may WISDOM guide COMPASSION

"out of MANY, we are ONE"[/QUOTE

The banking elite are criminal, vile traitors, but they are not stupid. There is nothing unknowing about this.
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Old 09-22-2008, 04:21 AM   #18
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

CALL TO ACTION

How about we say no, they open a 'bank', and, no one comes to deposit. Then, there is no need to 'fear' a bank run .... the incentives might become quite interesting if they received NO customers ... yachts, condos, bags of dope, teenage sex stars, the possibilities of incentives might become quite entertaining. When are we going to mock the handlers?


************************************************** *

http://biz.yahoo.com/ap/080921/bank_change.html

Last major investment banks change status
Sunday September 21, 11:02 pm ET
By Martin Crutsinger, AP Economics Writer
Federal Reserve changes status of Goldman Sachs and Morgan Stanley to bank holding companies

WASHINGTON (AP) -- The Federal Reserve said Sunday it had granted a request by the country's last two major investment banks -- Goldman Sachs and Morgan Stanley -- to change their status to bank holding companies.

The Fed announced that it had approved the request of the two investment banks. The change in status will allow them to create commercial banks that will be able to take deposits, bolstering the resources of both institutions.

The change continued the biggest restructuring on Wall Street since the Great Depression.

The request for the change to bank holding companies was granted by a unanimous vote of the Fed's board of governors during a late Sunday meeting in Washington.


************************************************** *

~ namaste ~
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Old 09-23-2008, 11:37 PM   #19
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

Greetings,

In reflection and research over 48 hours, it feels to me that there is no actual crisis beyond the orchestration of a wealth transfer, and that most every step, release and action is carefully staged. I respect facts, and people are hurting, yet is is becoming crystal clear, to me, that this is complete problem, reaction, solution methodology.

The most intriguing finds I have located are:
__________________________________________________ ____

This one might be useful to get past people's filters, truth and humor blended for impact .... from France.

A Financial Controlled Demolition Just Like 9/11

http://www.escapetheillusion.com/blo...just-like-911/

__________________________________________________ ____

Best thing I've read today:


http://kennysideshow.blogspot.com/20...-of-elite.html

Even in the face of overwhelming evidence that they orchestrated the 9/11 psyop, they continue to force-feed us with delusions of blinkered conformity. A jolt of truth can shatter the mirage, but it must be nourished by understanding if the prisoners are to break free of the mind chains that keep them bound in the cave of shifting shadows and shackled in servitude to the Masters of Deception.

ShadowPlay, a documentary film that reveals 9/11 as a deadly deception contrived to advance a global Pax Americana, closes with the words of Canadian Philosopher John McMurtry as he comments on the psychological warfare that has afflicted us all: "It is like a trance. So what can break a trance? The only thing that can break the trance is the light of truth."

It's time to emerge from the cave of shadows, switch off the TV, break out of the hypnogogic daze of delusion and say "NO!" No more MindWars! No more cult of 9/11 deception! No to the greed and bloodlust that fuels the global domination crusade!

It's time to take a stand and oppose this hideous strength, then the refreshing light of truth will prevail, justice will prevail and we can create a world of greater compassion.

__________________________________________________ ____


http://www.financialsense.com/editor...2008/0922.html


"Before 1933 the people themselves had an effective way to demand economy [from politicians].

Before 1933, whenever the people became disturbed over federal spending, they could redeem their paper currency in gold, and wait for common sense to return to Washington.

That happened on various occasions and conditions sometimes became strained, but nothing occurred like the ultimate consequences of paper money inflation.

When the people's right to restrain public spending by demanding gold coin was taken away from them, the automatic flow of strength from the grass-roots to enforce economy in Washington was disconnected.

__________________________________________________ ____

The below is what Jim Sinclair knows so well:

http://www.financialsense.com/Market/wrapup.htm?321gold

To say that events that unfolded in the world's financial markets last week were 'unprecedented' is perhaps a little too cliché. So let us revisit some of the key events which reportedly unfolded in the wake of Lehman's demise – a fate that was sealed last weekend [Sept. 13 / 14] when last attempts to rescue the storied U.S. Investment Bank hit-the-rocks [or ice, perhaps?].

Lehman's Demise Was Most Assuredly All-About J.P. Morgan

The critical piece of information that completes the daisy-chain: The world only learned about J.P. Morgan's 138 billion advance from a bankruptcy court document, where Lehman was asking the court for the authority to give the settlement of claims of J.P. Morgan "special status."

Here's how this flow-of-funds looks visually:



It is highly likely [or a certainty on my planet] that J.P. Morgan was INSOLVENT and was "BAILED OUT" last Monday, September 15, to the tune of 138 billion dollars. This would explain why the Fed and Treasury dictated that Lehman fail – to disguise or otherwise obfuscate the recapitalization of or illicit transfer of 138 billion to A MUCH SICKER, TEETERING ENTITY, J.P. Morgan Chase.

This makes sense. Investment banks are dropping like flies, owing to their involvement in credit derivatives – this is a fact.

__________________________________________________ ____


~ namaste ~
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Old 09-25-2008, 04:39 PM   #20
Zynox
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Default Re: Zynox Blogs the Fiscal Meltdown

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Old 10-03-2008, 05:30 PM   #21
Zynox
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Default ~ Cosmic Joke ~ Senate Bill Addresses The Shaft(ing) of All ~

~ figure this out ~

PDF File of Senate Bailout Bill: http://jsmineset.com/cwsimages/Miscf...enate10108.pdf

Sec. 503. Exemption from excise tax for certain wooden arrows designed for
use by children.

21 WOODEN ARROWS DESIGNED FOR USE BY
22 CHILDREN.
23 (a) IN GENERAL.—Paragraph (2) of section 4161(b)
24 is amended by redesignating subparagraph (B) as sub
1 paragraph (C) and by inserting after subparagraph (A)
2 the following new subparagraph:
3 ''(B) EXEMPTION FOR CERTAIN WOODEN
4 ARROW SHAFTS.—Subparagraph (A) shall not
5 apply to any shaft consisting of all natural
6 wood with no laminations or artificial means of
7 enhancing the spine of such shaft (whether sold
8 separately or incorporated as part of a finished
9 or unfinished product) of a type used in the
10 manufacture of any arrow which after its as
11 sembly—
12 ''(i) measures 5⁄16 of an inch or less in
13 diameter, and
14 ''(ii) is not suitable for use with a bow
15 described in paragraph (1)(A).''.
16 (b) EFFECTIVE DATE.—The amendments made by
17 this section shall apply to shafts first sold after the date
18 of enactment of this Act.
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Old 10-04-2008, 10:14 AM   #22
Anchor
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Default Re: ~ Cosmic Joke ~ Senate Bill Addresses The Shaft(ing) of All ~

Quote:
Originally Posted by Zynox View Post
Sec. 503. Exemption from excise tax for certain wooden arrows designed for
use by children.
This is the crucial part of the bill - isnt it obvious?

The world economy can now relax, safe in the knowledge that this important provision was included.

A..
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