Daily Archives: September 28, 2012

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A simple strategy to gain some peace of mind, and at least feel like you are sticking it to the banks. | ZeroHedge

A simple strategy to gain some peace of mind, and at least feel like you are sticking it to the banks. | ZeroHedge.

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Catherine Austin Fitts The Looting Of America – YouTube

http://www.youtube.com/watch?v=oUlQ7vElqqo&feature=related

Former Assistant Secretary of Housing under George H.W. Bush Catherine Austin Fitts blows the whistle on how the financial terrorists have deliberately imploded the US economy and transferred gargantuan amounts of wealth offshore as a means of sacrificing the American middle class. Fitts documents how trillions of dollars went missing from government coffers in the 90′s and how she was personally targeted for exposing the fraud.

Fitts explains how every dollar of debt issued to service every war, building project, and government program since the American Revolution up to around 2 years ago — around $12 trillion — has been doubled again in just the last 18 months alone with the bank bailouts. “We’re literally witnessing the leveraged buyout of a country and that’s why I call it a financial coup d’état, and that’s what the bailout is for,” states Fitts.

Massive amounts of financial capital have been sucked out the United States and moved abroad, explains Fitts, ensuring that corporations have become more powerful than governments, changing the very structure of governance on the planet and ensuring we are ruled by private corporations. Pension and social security funds have also been stolen and moved offshore, leading to the end of fiscal responsibility and sovereignty as we know it.

Fitts explained how when she was in government she tried to encourage the creation of small businesses, new jobs and new skills to compete in a globalized world otherwise the American middle class was toast, only to be forced out by the feds using dirty tricks. The elite instead wanted Americans to take on more credit card, mortgage and auto debt that corporations and insurers knew they couldn’t afford, while quietly moving their jobs abroad in the meantime.

Catherine Austin Fitts: http://en.wikipedia.org/wiki/Catherine_Austin_Fitts

http://solari.com | http://www.infowars.com

Catherine Austin Fitts The Looting Of America – YouTube.

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Jonathan Trent: Energy from floating algae pods – YouTube

Jonathan Trent: Energy from floating algae pods – YouTube.

Call it “fuel without fossils”: Jonathan Trent is working on a plan to grow new biofuel by farming micro-algae in floating offshore pods that eat wastewater from cities. Hear his team’s bold vision for Project OMEGA (Offshore Membrane Enclosures for Growing Algae) and how it might power the future.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Bahia Shehab: A thousand times no – YouTube

Art historian Bahia Shehab has long been fascinated with the Arabic script for ‘no.’ When revolution swept through Egypt in 2011, she began spraying the image in the streets saying no to dictators, no to military rule and no to violence.

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Capitalism Without Failure: In 2005 Raghuram Rajan Told Bernanke, Geithner, Summers, and Greenspan that We Were Headed for Economic Crisis

THURSDAY, SEPTEMBER 27, 2012

In 2005 Raghuram Rajan Told Bernanke, Geithner, Summers, and Greenspan that We Were Headed for Economic Crisis

I am re-watching Charles Ferguson’s Inside Job. It is a fantastic movie, but it is so frustrating to see our failed leaders being rewarded for their incompetence, obstructionism, and failure.

In 2005, Raghuram Rajan, who was then Chief Economist at the IMF, delivered a paper to the central bankers of the world. In attendance were Alan Greenspan, Ben Bernanke, Tim Geithner, and Larry Summers.  He concluded that the financial world was becoming riskier. The paper focused on warped incentive structures which created huge short term profits and cash bonuses, but with no penalties for later losses. He argued that this encouraged bankers to take on huge losses that would potentially bankrupt their own firms or even crash the entire financial system.

Summers criticized Rajan and accused Rajan of being a luddite.

So Summers (and Geithner and Greenspan and Bernanke) had terrible judgment. If the story ended there, it would be an unfortunate one. But the story only really becomes tragedy when we see what happened to those failed thinkers following their pathetic intellectual performance; Obama appointed Geithner Treasury Secretary, kept on Ben Bernanke as Fed Chairman, and appointed Summers to be his Chief Economic Advisor.

These people should have been able to see the coming tsunami on their own. After all, they are the most esteemed and highly regarded economic analysts in this country. But in this case, they were actually given a roadmap. The Chief Economist of the IMF stood in front of them and laid out in detail how the warped incentive structures in our political economy were creating a highly unstable and precarious financial sector that could bring the entire system crashing down. And they still did not act. And our system imploded. And they were all promoted.

They failed as badly as individuals can fail. They were then given the reins to this country and asked to fix it – as if they were fit to do so. That is just unforgivable.

I have to say it again: Charles Ferguson is an American hero. Watch this movie.

Jaime Falcon

Capitalism Without Failure: In 2005 Raghuram Rajan Told Bernanke, Geithner, Summers, and Greenspan that We Were Headed for Economic Crisis.

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Ask James: 16 Trillion in Debt, Love What You Do, How to Make a Million Dollars, and More Altucher Confidential

http://www.jamesaltucher.com/2012/09/ask-james-16-trillion-in-debt-love-what-you-do-how-to-make-a-million-dollars-and-more/