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Member Submitted News

Oct 18 20:36

Bush To Host Summit On Global Financial System

"We need a new global financial order," he said.

Oct 18 16:50

A Gigantic Armed Robbery

Amid the astonishing details of the Fed's fierce money pumping, the Treasury's partial nationalization of the banking industry, and the madcap exchange of its legal tender for the banks' rotten mortgage-backed securities, we may lose sight of the overall character of these actions: they are, in effect, nothing short of a gigantic armed robbery.

Oct 18 16:47

WHY ARE WE CHAUFFEURING OUR KIDS TO THE BUS STOP?

Can’t these children walk? Of course they can! But thanks to an increasingly warped view of what makes for a good American childhood – and a good American parent — they don’t have to.

Oct 18 16:34

These people are voting

Sal Governale from the Howard Stern show interviewed black people in Harlem about their election choices. The answers are scary but I’m sure they’d be similar no matter the demographic interviewed.

Oct 18 16:29

Computers partly to blame for financial woes

Here are financial considerations no one is talking about: If the government by infusing money into the financial sector has a positive multiplier effect according to Keynsian economics, do savings result in a negative multiplier effect i.e. if we save $1000, does the lessen the GDP by $2500? We have schizophrenic financial adviors. As a nation, we must consume more but as an individual we are supposed to decrease our expenditures by restricting purchases!

Oct 18 13:11

Government of Thieves PAUL CRAIG ROBERTS

Just as the Bush regime’s wars have been used to pour billions of dollars into the pockets of its military-security donor base, the Paulson bailout looks like a Bush regime scheme to incur $700 billion in new public debt in order to transfer the money into the coffers of its financial donor base. The US taxpayers will be left with the interest payments in perpetuity (or inflation if the Fed monetizes the debt), and the number of Wall Street billionaires will grow.

Oct 18 13:01

EU Leaders Call for Global Currency

Kurt Nimmo
Infowars
Saturday, Oct 18, 2008

If we are to believe the Washington Post, French president and current EU leader Nicolas Sarkozy has pledged to save us from nameless “freewheeling bankers and traders” who get the blame for the current economic crisis.

Oct 18 12:47

THE COLLAPSE OF A 300 YEAR PONZI SCHEME:

Ellen Brown, October 16th, 2008
www.webofdebt.com/articles/modest_proposal.php

“Admit it, mes amis, the rugged individualism and cutthroat capitalism that made America the land of unlimited opportunity has been shrink-wrapped by half a dozen short sellers in Greenwich, Conn., and FedExed to Washington, D.C., to be spoon-fed back to life by Fed Chairman Ben Bernanke and Treasury Secretary Hank Paulson. We’re now no different from any of those Western European semi-socialist welfare states that we love to deride.”

Oct 18 12:43

Is Israel's booming high-tech industry a branch of the Mossad?

In 2006 the Check Point Software Technologies company, which specializes in protecting computer systems from hackers and data theft, wanted to acquire an American company called Sourcefire, which works in the same field. The great advantage of Sourcefire was that its clients include the American Defense Department and the National Security Agency. The U.S. administration, however, by means of the Committee on Foreign Investment in the United States, did not approve the acquisition.

Oct 18 12:37

Ron Paul: Bailout means we'll all suffer. .CNN

U.S. Rep. Ron Paul, who has been an opponent of the government's bailout plan, spoke Friday with CNN's Kiran Chetry on "American Morning."
Ron Paul: "Give up on this idea that inflation solves everybody's problems."

Ron Paul: "Give up on this idea that inflation solves everybody's problems."

The Texas Republican says the bailout's infusion of government money will lead to inflation, that our current monetary system is coming to end, and the market, not politicians, can best solve the economic crisis.

Oct 18 12:32

Iraqis stage mass anti-US rally

Supporters of Shia cleric Moqtada Sadr have staged a mass demonstration in Baghdad in protest against plans to extend the US mandate in Iraq.

An estimated 50,000 protesters chanted slogans such as "Get out occupier!".

Iraqi and US negotiators drafted the deal after months of talks but it still needs approval from Iraq's government.

Under the agreement US troops would withdraw by 2011, and Iraq would have the right to prosecute Americans who commit crimes while off-duty.

Oct 18 12:28

Argentinian journalists sue Zionist organizatio

Los Angeles, Alta California - October 15, 2008 - (ACN) Three prominent and respected journalists are suing the Delegation of Israeli Associations in Argentina (DAIA) in a Buenos Aires District Court.

The following is a statement from journalists Adrian Salbuchi, Enrique Romero and Juan Gabriel Labaké concerning the suit:

We fight those who wish to silence all public debate on Zionism, a key political issue for Argentina and of global consequence.

Why we sued the Delegation of Israeli Associations in Argentina (DAIA):

Oct 18 12:21

atomic bombs music video

At the very end they show a Russian bomber dropping a 50 or 60 megaton bomb.. They show that flash in the video.. The mushroom cloud was forty miles high.. The diameter of the mushroom cloud was something like a hundred miles.. In other words.. if you were 50 miles away.. The edge of the cloud would be right over your head. And I'll betcha it was really loud.

When the bomb went off.. The shock wave traveled around the earth twice..

I don't think we want an atomic war anytime soon.

And the band kicked ass... So there!

Oct 18 11:30

Hopper explains the world (A Bug's Life)

There is a message here.. in the video.. The Leader says: "The ants outnumber them 100 to one".. But using this clip as a political metaphor.. The fact is that we outnumber them 20,000 to one... And yet they still rule... The ruling elite is only twenty thousand people.. And we the rest of humanity are 6 billion..(or something close to it.)

Why do we let them get away with this shit?

Oct 18 09:12

Early W.Va. Voters Angry-Jackson County Touch-Screens Switched Votes

"When I pushed Obama, it jumped to McCain. When I went down to governor's office and punched [Gov. Joe] Manchin, it went to the other dude. When I went to Karen Facemyer [the incumbent Republican state senator], I pushed the Democrat, but it jumped again.

"The rest of them were OK, but the machine sent my votes for those top three offices from the Democrat to the Republican," Thomas said.

Oct 17 23:59

Andrew Lahde bows out in style

Say what you will about Andrew Lahde, but the man knows how to write a letter.

Last month, the famed-for-betting-against-subprime hedge fund manager shuttered his operations, citing unacceptable levels of counterparty risk.

His goodbye missive is impressive not just for its length, but for its clearly-articulated (and somewhat apocalyptic) closing arguments.

Verbatim:

Oct 17 17:12

Are You Kidding Me?

The above chart illustrates that the "buy and hold investor" that entered the market in the year 2000 would have made a negative 23% total return on their money by October 9, 2008. Keep in mind that this return does not factor inflation into the equation.

Oct 17 11:43

Fidel Castro on the Global Crash

Oct 17 10:49

Not sure how your Bank is doing ? Check it out for yourself.......

Ah ha, it's amazing what you can find when you look around a little. My own bank, Credit Agricole in France, took the oppurtunity last week to make a pre-emptive strike against doubts about their integrity....

From the Email I received last week from the Director himself..

Oct 17 08:44

Nevada tent cities rise in shadow of casinos

Here, in the shadow of the giant casinos which mark the downtown landscape of this northern Nevada gambling mecca, as many as 150 people lived in a tent city until last weekend, one of a number of emergency shanty towns that sprang up in U.S. cities this past summer.

Oct 17 08:25

Bush the Pathetic

It is well recognized that term limits on the U.S Presidency create a lame duck status for the President beginning on his second inauguration. This status gets cranked up in the final year of a president's term but no one exemplifies the lame duck status more than George W. Bush.

Oct 17 07:30

Volcanic lightning may have sparked life on Earth

One of the most famous experiments of all time has just been found to have been even more successful than anyone realised. The Miller-Urey spark flask experiment could hold the key to the origin of life on Earth.

--------------

More, including some further links at the New Scientist site link above. Plus here is a little video from there:

Kooch

Check out my politically-charged rock band, ThE Gitmos, at:
http://www.myspace.com/thegitmos

Oct 17 03:22

Banks borrow record $437.5 billion per day from Fed

NEW YORK (Reuters) - Financial institutions ran to their lender of last resort for record amounts of cash in the latest week, under extreme pressure from the worst global financial crisis in a generation, Federal Reserve data showed on Thursday.

Banks and dealers' overall direct borrowings from the Fed averaged a record $437.53 billion per day in the week ended October 15, topping the previous week's $420.16 billion per day.

Some analysts are concerned that banks' dependence on Fed lending might become long term and difficult to change.

Oct 17 03:18

Israel's 'City of Coexistence' Shows Its True Colors

Israel has been suffering its worst bout of inter-communal violence since the start of the second intifada, with a week of what has been widely presented as "rioting" by Jewish and Arab residents of the northern port city of Acre.

The trigger for the outbursts occurred on the night of Yom Kippur, or the Day of Atonement, the holiest day in the Jewish calendar. The country effectively shuts down for 24 hours as religious Jews fast and abstain from most activity, leaving secular Jews little choice but to do likewise.

Oct 17 03:06

Additional Thoughts on the Bailout

By Paul Craig Roberts

Oct 16 22:10

Bailouts - Throwing good money after bad.

The recent House vote on the Bailout Plan was the seminal example of pouring good money after bad in to a bottomless pit.The Dow and Nasdaq plunged straight after the announcement and Americans finally realised just how blatantly they had just been royally screwed by a Government that has been royally screwing their citizens ever since that Black Day they entered Pennsylvania Avenue.

Oct 16 22:06

Dr. Michael Hudson: The Bailouts New Financial Oligarchy

A very important radio broadcast about the economy from KPFA's Guns & Butter Program.

Oct 16 19:41

Central banks failing to solve crisis

But, this time, the USD is not really able to back the world’s currencies. Some new form will be invented. The trouble is, what currency is able to step into that gap? None that I can see.
So, will this relentless bailout mentality lead us all ultimately to a new world currency? A single new world currency, or one that the major economies subscribe to?

That may sound preposterous but I don’t think it’s quite that unlikely.

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