Citizens of Europe Rage Against the Machine

Eric Blair
Activist Post
November 29, 2010
The international bankster machine seeking to colonize Western nations through debt is now meeting resistance from Greece, to France, to Ireland, to Italy, to Spain, to Portugal, and to the U.K.

The massive protests, strikes, and riots that have swept through the streets of many European countries have resulted in growing calls to reject the bailout money used to prop up failed banks and corrupt governments.

These new protests in Ireland and Italy follow a crippling 2-week strike in France where citizens took over fuel refineries and other vital infrastructure, more strikes in Greece which took over the Acropolis, and a massive student protest in the UK that caused physical damage to government buildings. All of these protests were sparked by governments reducing benefits or increasing fees and taxes on a population that had little to do with the private gambling of banks.
These European protests are intensifying as the international bankers move to collect their “pound of flesh” through austerity and sale of public assets.  As Europeans are becoming acutely aware of the dubious plan to loot them and the anger at their corrupt elected officials for bowing to banks has reached a boiling point.  In all cases the governments are enforcing austerity measures on the people after the private banks over-leveraged themselves to the breaking point, threatening to bring down entire nations.

For years the bankers churned out easy credit to these nations while they invested public and private funds into worthless credit default swaps and derivatives. As if orchestrated to perfection, they pulled the plug on those toxic assets, essentially bankrupting the more fragile developed countries, followed by calling their debts due.  Now they’re demanding that European governments be forced into IMF bailouts that impose drastic austerity measures on the populace.

By forcing tax increases and reducing benefits for the citizens of sovereign nations, the IMF is essentially rewriting their laws.  Well, it appears that the citizens of Europe have had enough.  The massive protests, strikes, and riots that have swept through the streets of many European countries have resulted in growing calls to reject the bailout money used to prop up failed banks and corrupt governments.  The Irish people prefer to default on the debt which drove the EU ‘completely mad’.
The protesters are getting support from someone who is experiencing the outcome of resisting public bailouts of private banking debts.  The President of Iceland recently remarked that they’re in much better shape than Ireland because they let the private banks fail and their currency naturally devalued, allowing them to regain some competitiveness relative to their neighbors:

“The difference is that in Iceland we allowed the banks to fail,” Grimsson said in an interview with Bloomberg Television’s Mark Barton today. “These were private banks and we didn’t pump money into them in order to keep them going; the state did not shoulder the responsibility of the failed private banks.”

UK’s Libertarian politician, Nigel Farage, once viewed as a fringe player, is now getting international recognition for forewarning his European comrades about the troubles in the system.  He’s quickly becoming a hero to the banker resistance as his credibility reaches new heights for being proved right — much like his U.S. counterpart Congressman Ron Paul. His rants in the European Parliament are going viral on YouTube as the people are waking up to their servitude to banks and a lack of true democracy and sovereignty.
Nigel Farage speaks with such confidence against the EU, as he should, given that a recent mainstream media poll showed 99% of UK citizens want out of the Euro.  The battle against the banking cartel is clearly happening with Europe as the spearhead.  As Europeans continue to fight back against corrupt international banksters, lazy Americans continue to live with a much lower standard of living and do nothing to challenge the system.
The rage in Europe and quiet streets in America is causing the euro to fall against the dollar.  The dollar was all but declared dead in the lead-up to the Fed’s QE2, but now the eurozone debt crisis has taken center stage.  The European Council is set to meet again this December to amend the Lisbon Treaty to essentially legalize more bailouts.  Some insiders are calling it an impossible mission to get all European countries to agree on fair amendments.  The outcome of these December meetings will assuredly be pivotal in determining whether the euro “experiment” will survive.
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If it crumbles, so then does the structure for a global currency.  Indeed, the front lines in the battle to conquer plans for a global currency and the end of sovereign nation states is being waged by the angry citizens of Europe.  Bravo comrades, keep up the fight!

Drudge Fought The TSA… And Drudge Won

Paul Joseph Watson & Alex Jones
Infowars.com
Monday, November 29, 2010




Despite the establishment media presiding over another mass hoax in claiming that Americans were completely happy with invasive airport security measures, contrary to polls showing a majority in opposition, and that the national opt out day was a failure, the fact that the TSA was forced to change its policy by mothballing naked body scanners and curtailing aggressive pat downs clearly goes to show that the man who almost single-handedly drove the issue, Matt Drudge, fought the TSA and he won.
The big networks and the so-called progressive borg hive, who instantly tried to spin the lack of delays at airports over Thanksgiving as proof that the opt-out protest had failed, conveniently failed to mention the fact that major airports across the country had deliberately mothballed their naked body scanners in a crass PR ploy aimed at deflating the momentum behind the demonstration.
Early reports began to pour in from Twitter users who said that body scanner machines were roped off and out of use in airports such as LAX, Seattle, San Jose and Columbus, Ohio. They also said that pat downs had reverted back to the standard procedure and were not the new grope downs that the TSA had announced a couple of weeks before.
The New Jersey Star-Ledger subsequently reported that, “The majority of Newark’s full-body scanners were idle throughout much of the day, depriving most passengers of the chance to opt out of the controversial screening procedure even if they had wanted to.”
At the nation’s busiest airport, Atlanta-Hartsfield, there was,”limited, if any, use of the controversial full-body scanners,” the Atlanta Journal-Constitution reported.
Later reports confirmed that, the TSA had “backed down and resorted to using the old screening procedures — metal detectors and less-intrusive pat-downs.

• 

In addition, many people took part in the protest by avoiding airports altogether. Traffic was jammed on the highways, with the Massachusetts Turnpike playing host to a 30-mile hold-up.
The establishment media echo chamber attempted to pull a hoax by claiming that the vast majority of Americans were completely happy with having their genitals groped by federal goons and naked pictures taken of their children. In reality, after Drudge relentlessly drove the issue, polls of Americans that were previously in support of body scanners had reversed dramatically and the ACLU received an avalanche of new complaints.
The nationwide scanner shut down proved two things.
1) Big Sis’s security talk is nothing more than hot air. If the scanners were so imperative to keep us safe from terrorists then why did the TSA turn them off in a vain effort to score political points?
2) Drudge won. The DHS and TSA were forced to change their policies on both naked body scanners and invasive pat downs – both of which were curtailed over Thanksgiving. Whether such a change stays in place remains to be seen – the war will undoubtedly rage on, but there can be little doubt that Drudge won the battle.
As Politico’s Ben Smith highlighted, “There’s no doubt about who won on this issue: Matt Drudge chose it and drove it, illustrating both his continued power and his great sense of the public mood, and it now seems a matter of time until he gets results.”
Indeed, the whole issue underscores once again why the establishment media is so petrified of Drudge’s power to direct the nationwide rebellion against big government. One man with a website was able to take on the might of the multi-billion dollar corporate media industry and the federal government for whom they act as apologists, and in doing so stir the next great wave of resistance against tyranny.
The establishment continually berates Drudge and attempts to assert that he has lost the power to influence the national discourse, even as the Drudge Report continues to smash its traffic record year after year.
As Matt Lewis writes, Drudge has helped to spark a new movement, confounding establishment media pundits who have repeatedly belittled his influence.

Not long ago, of course, there was great debate as to whether or not Drudge even still had it. As Barack Obama was besting John McCain in 2008, many observers wondered whether or not The Drudge Report — which a decade earlier had pushed the Monica Lewinsky scandal into the headlines — had lost a step.
At the Washington Post, Howard Kurtz debated whether or not Drudge still had the clout to drive media coverage. And TPM’s Greg Sargent also argued that Drudge’s influence was over-stated. He was not alone.
Of course, as the TSA rebellion illustrates, Drudge remains incredibly powerful and uniquely important.

The wider issue now becomes not just what Big Sis is subjecting Americans to at airports, but how this same invasive and unconstitutional technology is now being increasingly used on the streets.
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As Homeland Security extends its tentacles more and more into our private lives, the rebellion against Big Sis will only accelerate, and Drudge as ever will be at the forefront of that charge, much to the chagrin and embarrassment of the castrated, corrupted, distrusted, and increasingly irrelevant establishment media.
—
Paul Joseph Watson is the editor and writer for Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a fill-in host for The Alex Jones Show. Watson has been interviewed by many publications and radio shows, including Vanity Fair and Coast to Coast AM, America’s most listened to late night talk show

Iran Worm Can Deal Double Blow to Nuclear Program

By JOHN MARKOFF

The German software engineer who in September was the first to report that a computer worm was apparently designed to sabotage targets in Iran said Friday that the program contained two separate “digital warheads.”

The malicious program, known as Stuxnet, is designed to disable both Iranian centrifuges used to enrich uranium and steam turbines at the Bushehr nuclear power plant, which is scheduled to begin operation next year, said the engineer, Ralph Langner, an industrial control systems specialist based in Hamburg, Germany.
His analysis adds further detail to a report by researchers at the Symantec Corporation, an American computer security company, which concluded that the software code was intended to induce fluctuations in the rotational speed of motors, by taking over a power device known as a frequency converter.
“It’s an awful complex code that we are looking at,” said Mr. Langner, who has spent several months studying the program, which was discovered by a Russian antivirus company in June, after the company received complaints from Iranian customers. The link between the worm and an Iranian target was first made at an industrial systems cybersecurity conference in the Washington area on Sept. 20 by Mr. Langner.
In a statement Friday on his Web site, he described two different attack modules that are designed to run on different industrial controllers made by Siemens, the German industrial equipment maker. “It appears that warhead one and warhead two were deployed in combination as an all-out cyberstrike against the Iranian nuclear program,” he wrote.
In testimony before the Senate on Wednesday, federal and private industry officials said that the Iranian nuclear program was a probable target, but they stopped short of saying they had confirming evidence. Mr. Langner said, however, that he had found enough evidence within the programs to pinpoint the intended targets. He described his research process as being akin to being at a crime scene and examining a weapon but lacking a body.
The second code module — aimed at the nuclear power plant — was written with remarkable sophistication, he said. The worm moves from personal computers to Siemens computers that control industrial processes. It then inserts fake data, fooling the computers into thinking that the system is running normally while the sabotage of the frequency converters is taking place. “It is obvious that several years of preparation went into the design of this attack,” he wrote.
When asked about Mr. Langner’s new analysis, Eric Chien of Symantec said the company’s researchers had also seen evidence of a second attack module, but that the module was disabled in the version of Stuxnet they studied.
Mr. Langner is among a small group of industrial control specialists who warned that the widespread distribution of the Stuxnet code could lead to disaster. Equipment made by Siemens and its competitors is used around the globe to manage virtually all of the world’s transportation, power distribution and communications systems.
Joe Weiss, managing partner at Applied Control Systems, a consulting firm based in the Silicon Valley that organized the conference in September, said he was concerned that computer security organizations were not adequately conveying the potential for serious industrial sabotage that Stuxnet foretells.
“I just want the lights to stay on and water flowing, and people not dying,” he said.

China, Russia quit dollar

Russia quits dollar

By Su Qiang and Li Xiaokun (China Daily)
Updated: 2010-11-24 08:02

Premier Wen Jiabao shakes hands with his Russian counterpart Vladimir Putin on a visit to St. Petersburg on Tuesday.ALEXEY DRUZHININ / AFP

St. Petersburg, Russia - China and Russia have decided to renounce the US dollar and resort to using their own currencies for bilateral trade, Premier Wen Jiabao and his Russian counterpart Vladimir Putin announced late on Tuesday.

Chinese experts said the move reflected closer relations between Beijing and Moscow and is not aimed at challenging the dollar, but to protect their domestic economies.

"About trade settlement, we have decided to use our own currencies," Putin said at a joint news conference with Wen in St. Petersburg.

The two countries were accustomed to using other currencies, especially the dollar, for bilateral trade. Since the financial crisis, however, high-ranking officials on both sides began to explore other possibilities.

The yuan has now started trading against the Russian rouble in the Chinese interbank market, while the renminbi will soon be allowed to trade against the rouble in Russia, Putin said.

"That has forged an important step in bilateral trade and it is a result of the consolidated financial systems of world countries," he said.

Putin made his remarks after a meeting with Wen. They also officiated at a signing ceremony for 12 documents, including energy cooperation.

The documents covered cooperation on aviation, railroad construction, customs, protecting intellectual property, culture and a joint communiqu. Details of the documents have yet to be released.

Putin said one of the pacts between the two countries is about the purchase of two nuclear reactors from Russia by China's Tianwan nuclear power plant, the most advanced nuclear power complex in China.

Putin has called for boosting sales of natural resources - Russia's main export - to China, but price has proven to be a sticking point.

Russian Deputy Prime Minister Igor Sechin, who holds sway over Russia's energy sector, said following a meeting with Chinese representatives that Moscow and Beijing are unlikely to agree on the price of Russian gas supplies to China before the middle of next year.

Russia is looking for China to pay prices similar to those Russian gas giant Gazprom charges its European customers, but Beijing wants a discount. The two sides were about $100 per 1,000 cubic meters apart, according to Chinese officials last week.

Wen's trip follows Russian President Dmitry Medvedev's three-day visit to China in September, during which he and President Hu Jintao launched a cross-border pipeline linking the world's biggest energy producer with the largest energy consumer.

Wen said at the press conference that the partnership between Beijing and Moscow has "reached an unprecedented level" and pledged the two countries will "never become each other's enemy".

Over the past year, "our strategic cooperative partnership endured strenuous tests and reached an unprecedented level," Wen said, adding the two nations are now more confident and determined to defend their mutual interests.

"China will firmly follow the path of peaceful development and support the renaissance of Russia as a great power," he said.

"The modernization of China will not affect other countries' interests, while a solid and strong Sino-Russian relationship is in line with the fundamental interests of both countries."

Wen said Beijing is willing to boost cooperation with Moscow in Northeast Asia, Central Asia and the Asia-Pacific region, as well as in major international organizations and on mechanisms in pursuit of a "fair and reasonable new order" in international politics and the economy.

Sun Zhuangzhi, a senior researcher in Central Asian studies at the Chinese Academy of Social Sciences, said the new mode of trade settlement between China and Russia follows a global trend after the financial crisis exposed the faults of a dollar-dominated world financial system.

Pang Zhongying, who specializes in international politics at Renmin University of China, said the proposal is not challenging the dollar, but aimed at avoiding the risks the dollar represents.

Wen arrived in the northern Russian city on Monday evening for a regular meeting between Chinese and Russian heads of government.

He left St. Petersburg for Moscow late on Tuesday and is set to meet with Russian President Dmitry Medvedev on Wednesday.

RT: Putin Ditches Dollar; Keiser Predicts Germany New "Superpower"

US Midterm Election: Battle of the Billionaires

Collapse of Irish Zombie Banks, Provoked Korean Crisis Escalate World Financial Breakdown Crisis

John Stadtmiller - Bob Chapman, Roundtable 2010.11.23

Keiser Report on Silver Revolt: 'Crash JP Morgan' Goes Viral!

Shorting Obama

The Federal Reserve and IRS are private corporations

World Leaders Not Buying It! Obama’s economic view rejected on world stage; Update: G20 Also Say No

(Boston.com)SEOUL — President Obama's hopes of emerging from his Asia trip with the twin victories of a free trade agreement with South Korea and a unified approach to spurring global economic growth ran into resistance on all fronts yesterday, putting Obama at odds with his key allies and largest trading partners.
The most concrete trophy expected to emerge from the trip eluded his grasp: a long-delayed free trade agreement with South Korea, first negotiated by the Bush administration and then reopened by Obama, to have greater protections for US workers.

And as officials frenetically tried to paper over differences among the Group of 20 members with a vaguely worded communiqué to be issued today, there was no way to avoid discussion of the fundamental differences of economic strategy. After five largely harmonious meetings in the past two years to deal with the most severe downturn since the Depression, major disputes broke out between Washington and China, Britain, Germany, and Brazil.
Each rejected core elements of Obama's strategy of stimulating growth before focusing on deficit reduction. Several major nations continued to accuse the Federal Reserve of deliberately devaluing the dollar last week in an effort to put the costs of America's competitive troubles on trading partners, rather than taking politically tough measures to rein in spending at home.
The result was that Obama repeatedly found himself on the defensive. He and the South Korean president, Lee Myung Bak, had vowed to complete the trade pact by the time they met here; while Obama insisted that it would be resolved "in a matter of weeks,'' without the pressure of a summit meeting it was unclear how the hurdles on nontariff barriers to US cars and beef would be resolved.
Read More: http://www.boston.com/news/world/asia/articles/2010/11/12/us_south_korea_trade_accord_not_a_done_deal/
FOX NEWS
SEOUL, South Korea — Leaders of 20 majoreconomies on Friday refused to endorse a U.S. push to get China to let its currency rise, keeping alive a dispute that has raised the specter of a global trade war.
At the end of their two-day summit, the leaders of the Group of 20 rich and developing economies — including President Barack Obama and China's Hu Jintao — issued a watered-down statement that only said they agreed to refrain from "competitive devaluation" of currencies.
Fox News: http://www.foxnews.com/world/2010/11/12/g-refuses-push-chinas-currency/
swenbwr

http://redwhitebluenews.com/?p=12016

Phantom Jobs

Paul Craig Roberts
Infowars.com
November 9, 2010

If we cannot trust what the government tells us about weapons of mass destruction, terrorist events, and the reasons for its wars and bailouts, can we trust the government’s statement last Friday that the US economy gained 151,000 payroll jobs during October?

	There is no employment data, and none in the works, unless gimmicked, that supports the recovery myth.

Apparently not. After examining the government’s report, statistician John Williams (shadowstats.com) reported that the jobs were “phantom jobs” created by “concurrent seasonal factor adjustments.” In other words, the 151,000 jobs cannot be found in the unadjusted underlying data. The jobs were the product of seasonal adjustments concocted by the BLS.
As usual, the financial press did no investigation and simply reported the number handed to the media by the government.
The relevant information, the information that you need to know, is that the level of payroll employment today is below the level of 10 years ago. A smaller number of Americans are employed right now than were employed a decade ago.
Think about what that means. We have had a decade of work force growth from youngsters reaching working age and from immigration, legal and illegal, but there are fewer jobs available to accommodate a decade of work force entrants than before the decade began.
During two years from December 2007 – December 2009, the US economy lost 8,363,000 jobs, according to the payroll jobs data. As of October 2010, payroll jobs purportedly have increased by 874,000, an insufficient amount to keep up with labor force growth. However, John Williams reports that 874,000 is an overestimate of jobs as a result of the faulty “birth-death model,” which overestimates new business start-ups during recessions and underestimates business failures. Williams says that the next benchmark revision due out next February will show a reduction in current employment by almost 600,000 jobs. This assumes, of course, that the BLS does not gimmick the benchmark revision. If Williams is correct, it is more evidence that the hyped recovery is non-existent

• 

Discounting the war production shutdown at the end of World War II, which was not a recession in the usual sense, Williams reports that “the current annual decline [in employment] remains the worst since the Great Depression, and should deepen further.”
In short, there is no employment data, and none in the works, unless gimmicked, that supports the recovery myth. The US rate of unemployment, if measured according to the methodology used in 1980, is 22.5%. Even the government’s broader measure of unemployment stands at 17%. The 9.6% reported rate is a concocted measure that does not include discouraged workers who have been unable to find a job after 6 months and workers who who want full time jobs but can only find part-time work.
Another fact that is seldom, if ever, reported, is that the payroll jobs data reports the number of jobs, not the number of people with jobs. Some people hold two jobs; thus, the payroll report does not give the number of employed people.
The BLS household survey measures the number of people with jobs. The same October that reported 151,000 new payroll jobs reported, according to the household survey, a loss of 330,000 jobs.
The American working class has been destroyed. The American middle class is in its final stages of destruction. Soon the bottom rungs of the rich themselves will be destroyed.
The entire way through this process the government will lie and the media will lie.
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The United States of America has become the country of the Big Lie. Those who facilitate government and corporate lies are well rewarded, but anyone who tells any truth or expresses an impermissible opinion is excoriated and driven away.
But we “have freedom and democracy.” We are the virtuous, indispensable nation, the salt of the earth, the light unto the world.
–
Dr. Paul Craig Roberts is the father of Reaganomics and the former head of policy at the Department of Treasury. He is a columnist and was previously an editor for the Wall Street Journal. His latest book, “How the Economy Was Lost: The War of the Worlds,” details why America is disintegrating.

4 Reasons Why a Conspiracy Theorist Might Believe a Devastating Event is Imminent

Nicholas West
Activist Post
November 5, 2010

Is a major earth-shattering event about to happen in America which could trigger global chaos?
Based on heavy speculation, and some startling facts, there seem to be some indicators that suggest something big may be about to occur.

• Fed stimulus, Part 2. Yesterday we had the announcement of more Federal Reserve stimulus, known as “quantitative easing,” which dumped another exorbitant amount of money on an already saturated system.  Nearly all independent experts agree that this is the death knell of the dollar.  The National Inflation Association just released a statement that this move will trigger inflation and starve the middle class.  The rest of the world is still weighing in on the global ramifications of such a move to the world’s reserve currency.  Brazil said that the U.S. fired the gun in the currency war and they are ready to retaliate; China is prepared to set up a firewall against the latest Fed move; and Germany warned of growing protectionism around the globe stemming from the latest U.S. manipulation.  Some are now predicting that a bank holiday is imminent, with a likely date set for November 11.  Is QE2 the final tipping point toward financial disaster?  Or will it weaken resistance against another imminent disaster?

Obama and warships to India. Much is being made out of the massive amount of armaments that Obama is taking with him on his trip to India:  34 warships, an aircraft carrier, and enough troops and security to be an invasion force.  As Indian press has stated, the very heart of The White House is moving to India.  Not much has been said, however, of the speculation that 200 corporate CEOs will be along for the ride.  Add this to an apparently last-minute decision to bring his family — all for an economic summit — and one might wonder what is being expected.  As Steve Quayle asks, “When in U.S. History has a sitting President taken off on an overseas trip for an extended period of time, with 65 airplanes, 34 warships reportedly 3,000 people including his friends and cohorts, at the pinnacle of an economic and political upheaval?”

November 6th false flag nuke. Forums are busy discussing hidden messages within The Simpsons contained in a recently posted video (see below) that offers a warning.  There was indeed a strange previous connection to 9/11 which appeared on a 1997 episode of the same show.  Curious parallels exist between the plot lines of these two shows that seem peculiarly focused on specific dates and numerological imagery.  Could there be indications in this cartoon of 9/11/01 foreknowledge and a coming event on 11/6/10? Invert the two dates, watch the video, and decide for yourself if this episode titled, “To Surveil With Love” is an indicator of a false flag event and the full implementation of a surveillance police state to follow.

The Web Bot Project. Half Past Human has released their latest “Tipping Point” graphs.  The period of time we are entering indicates “tension language” building around a major event in the coming week could set off 2 months of severe disruption.  This event is projected to be far larger in scope than 9/11 and all other terror events combined.

The four points above are indicators that only enhance the climate of disaster already being fostered by government and military announcements that range from aliens to asteroids to global pandemics.  Then there is always CERN’s Large Hadron Collider to offer up a disaster scenario.  With the government itself propagating conspiracy theories, anything is possible.  We’ll apparently know soon enough if this latest matrix of conspiracy data changes from theory to a terrible fact.

Web Bot Project Discussion (John Waterman)

Hidden Messages?

What In the World Are They Spraying ? The Movie

Ссылка:

Helicopter Ben Bernanke Launches Weimar Hyperinflation

LAROUCHEPAC:  Economic Collapse

November 4, 2010 • 8:08AM

 

One day after the Nov. 2 mid-term elections in the United States, the U.S. Federal Reserve, as expected, announced that it is launching a policy of "quantitative easing" — read, Weimar-style hyperinflation. The Fed Open Market Committee said today that it would buy $600 billion more in Treasury bonds. The Fed said it would buy the long-term government bonds through June of 2011. This purchase will add to an expected $250 billion to $300 billion in Fed purchases over the same period from reinvesting proceeds from its mortgage portfolio. Thus, including these Treasury purchases from reinvesting proceeds of mortgage payments, the Fed will buy a total of $850 billion to $900 billion of securities through June, or about $110 billion per month.
Assets will have an average duration of five to six years, and the central bank temporarily relaxed a 35-percent per-issue limit on its securities holdings to provide operational flexibility and buy the most attractive securities on a relative-value basis, the New York Fed said.
The Federal Open Market Committee (FOMC) kept its benchmark interest rate at zero to 0.25 percent, where it has been since December 2008.
Voting for the FOMC hyperinflationary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Sandra Pianalto; Sarah Bloom Raskin; Eric S. Rosengren; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.
Voting against the policy was Thomas M. Hoenig. He believed the risks of additional securities purchases outweighed the benefits. He was also concerned that this continued high level of monetary accommodation will increase the risks of future financial imbalances and, over time, will cause an increase in long-term inflation expectations that could destabilize the economy.
Bernanke pressed forward with the move, even after five of 18 Fed policy makers went public with objections or doubts. The one of the five who has a vote this year, Kansas City Fed President Thomas Hoenig, today cast his seventh straight dissent, the most at consecutive regular policy sessions since 1955.
On Thursday, both the Bank of England and the European Central Bank (ECB) are also scheduled to announce monetary policy.
The insanity of today's FOMC announcement underscores the need to remove Obama from the U.S. Presidency, immediately reinstate Glass Steagall, and generate credit to maintain the state governments of the United States and fund NAWAPA.

 

 

Alex Jones: "The second American Revolution"

Fed Announces QE2

Kurt Nimmo
Infowars.com
November 3, 2010

Earlier today, the Federal Reserve decided to create and unleash destructive asset bubbles that will ultimately devastate the global economy.
QE2, or quantitative easing, has commenced, as feared.
“The Federal Reserve’s proposed policy of quantitative easing is a dangerous gamble with only a small potential upside benefit and substantial risks of creating asset bubbles that could destabilize the global economy,” notes Harvard economist Marty Feldstein.
“The Federal Reserve launched a controversial new policy on Wednesday, committing to buy $600 billion more in government bonds by the middle of next year in an attempt to breathe new life into a struggling U.S. economy,” reports CNBC with sunny optimism. “The decision, which takes the Fed into largely uncharted waters, is aimed at further lowering borrowing costs for consumers and businesses still suffering in the aftermath of the worst recession since the Great Depression.”
Instead, as a number of economists and analysts warn, the effort will produce a rise in commodity prices, trigger a rise in material prices and increase inflation. “This could bring about inflation and possibly derail the recovery,” warned Eduardo Lopez, the International Energy Agency’s senior oil demand analyst, in late October.
Meanwhile, the Fed keeps repeating its for public consumption mantra that quantitative easing will raise asset values, spur the wealth effect, and magically lift the economy out of its doldrum

The promised rise in GDP would, at best, be negligible and chaos will reign when interest rates return to normal levels.

Fed mob boss Ben Bernanke, of course, is merely following orders. The global economy must be destroyed at cost and the American middle class decimated.
Here is the press release issued earlier today by the Board of Governors of the Federal Reserve System:

For immediate release 

Information received since the Federal Open Market Committee met in September confirms that the pace of recovery in output and employment continues to be slow. Household spending is increasing gradually, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. Housing starts continue to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have trended lower in recent quarters.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. Currently, the unemployment rate is elevated, and measures of underlying inflation are somewhat low, relative to levels that the Committee judges to be consistent, over the longer run, with its dual mandate. Although the Committee anticipates a gradual return to higher levels of resource utilization in a context of price stability, progress toward its objectives has been disappointingly slow.
To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to expand its holdings of securities. The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings. In addition, the Committee intends to purchase a further $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month. The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability.
The Committee will maintain the target range for the federal funds rate at 0 to 1/4 percent and continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
The Committee will continue to monitor the economic outlook and financial developments and will employ its policy tools as necessary to support the economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Elizabeth A. Duke; Sandra Pianalto; Sarah Bloom Raskin; Eric S. Rosengren; Daniel K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.
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Voting against the policy was Thomas M. Hoenig. Mr. Hoenig believed the risks of additional securities purchases outweighed the benefits. Mr. Hoenig also was concerned that this continued high level of monetary accommodation increased the risks of future financial imbalances and, over time, would cause an increase in long-term inflation expectations that could destabilize the economy.
Statement from Federal Reserve Bank of New York

Successful Chinese Strategy Of Protectionism, Mercatilism, Dirigism Goes Back To Alexander Hamilton and Henry Clay

Webster G. Tarpley
TARPLEY.net
October 27, 2010

The US should dump the failed Chicago-Austrian system of free trade, deregulation, and privatization, and return to the classic American System of political economy, meaning an updated New Deal. No Keynesians, Austrians, Chicago boys, or Marxists need apply. RT panel with Pepe Escobar, Michael Hudson, and Webster Tarpley.

Keiser Report: Global Party for corrupt bankers