OT - Is there a citizen backlash coming for congress passing 700 Billion $ Bailout? - Page 8

Some will, some wont.  Some might shoot the C/O giving the order to fire on American citizens. We hope.

Blackwater Mercs will they are highly paid, and have no morals or issues with regard to  firing on Americans.

Kent State showed it.  Katrina as well.  Congresswoman Cynthia McKinney reported with the Red Cross insiders,  over 5000 Bodies dumped in the swamps, many were head shot & executed by military..National Guard, Israeli Operatives & Blackwater Goons.

Yes, some will follow orders. If they dont, they will be jailed.  Standards for military have  been lowered. They are paid to follow orders, not think or question.   Its a Mess folks.

Be ready and stay well.  Hope & Pray for the best, prepare for the worst.

Black Friday: US Stocks to plunge, Lehman derivatives to unwind; Dozens of banks may fail with credit default swaps

Today could be the beginning of the end as "the perfect storm" of financial bad news comes together.

As of 9:15 AM Eastern US time, Asian and European stock markets are in chaos with double-digit percentage losses that have been so profound, that exchanges in Austria, Russia, Australia and Indonesia SUSPENDED all trading!

The Dow Jones Industrial Average is already expected to open "sharply lower."

At 2:00 PM EDT today, the final price of the Lehman Brothers credit default swaps will be publicly released by the Bankruptcy court, which will tell everyone who insured against a Lehman default, how badly they must pony-up. The unraveling of those Lehman derivatives could take out a number of large US banks.
The US stock market opens at 9:30 AM today; it's going to be a wild day.



Money creation, interest, debt.... these are the powers of the world. Not guns, or armies, or business. Interest rules our world.

On my last post I would like to remind that "I was only following orders" does not hold up as an excuse either in history or in future courts of law.  In the end, everyone remains accountable for their own decisions whether to follow orders blindly or not..

"If things really do fall apart like they are seeming to do, are you going to be prepared to use force against your friends, neighbors, fellow Americans to prop up a government that is operating contrary to the Constitution that you are sworn to uphold? "

See, this is what troubles me ... actually, it's the only issue I have with all this "storm" crap.

I remember the day the Military Recruiters came to my school. It was an all day essembly, picking and choosing, getting to know etc. You were approved for the ASVABS that day if you were interested. A week later they came back for us, and we went to take our tests, they told us which branch is better for us as an individual.

But, the interesting thing is, when we got there and the room was full, the Instructor detailed us .. the difference between Police and Military Soldiers. What that instructor told me that day, rendered a question in my mind as I was listening ... but I was too afraid to ask. Noone asked. 4 people walked out. There was 31 in the class.

So, I would like to know too ... how are the Police dealing with this. I know how my locals feel, but I mean like America's Police as a whole.

I know my oath.

Youre right Pappa, BUT thats wishful thinking..

Military are given Orders to follow.

Many of these troops have trained for it, for months, doing  urban drills in Toledo or Indianapolis just a few months ago,  and are brainwashed/conditioned from Iraq,  into thinking some angry Americans are 'terrorists' or ' insurgents' because they demand justice , want their banks to recoup their  lost savings, or are hungry, once this mess goes from contained to chaos.

Lines will be drawn and we shall soon see.  Municipalities will close as well.   Many are bankrupt.  Cops & services wont be paid.  Then we'll see how the goon squad for what it is.  Unemployment in many states is insolvent (BK).    Chaos is coming.

Meanwhile, 90+ Million Americans Have guns. Many hunt & are skilled. Many are X Military. Some are trained Snipers. Some are angry Patriots.

I wouldnt want to take on 1/10 of that 90+ Million angry, armed Americans.   Even 1% of that 1/10th,  is 900,000. I like those odds personally. 

Hopefully the ballot box is all it will take.  Right?  And Ive got some waterfront property in Kentucky to sell you too.

Berlusconi Says Leaders May Close World's Markets

By Steve Scherer

Oct. 10 (Bloomberg) -- Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world's financial markets while they ``rewrite the rules of international finance.''

``The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,'' Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis ``can't just be for one country, or even just for Europe, but global.''

The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi's remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York.

Group of Seven finance ministers and central bankers are meeting in Washington today, and will stay in town for the International Monetary Fund and World Bank meetings this weekend. European Union leaders may gather in Paris on Oct. 12, three days before a scheduled summit in Brussels, Berlusconi said today, while Group of Eight leaders may hold a meeting on the crisis ``in coming days,'' he said.

Berlusconi didn't give any details about what kind of rules leaders were looking to change, except to say that leaders are ``talking about a new Bretton Woods.''

The Bretton Woods Agreements were adopted to rebuild the international economic system after World War II in a hotel in Bretton Woods, New Hampshire. The aim of the agreements was to establish a monetary management system, initially by pegging currencies to gold. The IMF was set up later to help manage the international financial system.

To contact the reporter on this story: Steve Scherer in Rome at scherer@bloomberg.net
Last Updated: October 10, 2008 10:15 EDT

Paul Joseph Watson
Friday, October 10, 2008

Legendary investor Jim Rogers warned during a CNBC interview this morning that global central banks are creating the environment for an inflationary holocaust by their ceaseless overprinting of currency, a measure that isn’t even successful in stabilizing the stock market.

Rogers said that the only solution to the market crisis was to let failing banks and speculators go bankrupt and stop pumping endless amounts of liquidity into the system, labeling it outrageous that responsible investors and taxpayers are being made to bail out crooks on Wall Street.

“The way to solve this problem is to let people go bankrupt,” Rogers stressed, “All of this pumping money into the system is not going to save it - see what the market is saying, it’s saying we don’t buy that, let people go bankrupt,” he added.

“Then you will hit bottom and then you start over. The people who are sound will take over the assets from the people who aren’t sound and we will start over. This is the way the world has worked for a few thousand years,” said Rogers.Rogers warned that the reliance on governments printing money would not aid a recovery and would only lead to the problem becoming worse in the future.

“We’re setting the stage for when we come out of this of a massive inflation holocaust,” he said.Rogers said that excesses of credit and people becoming over-leveraged meant that they would now have to take some pain.

“Never before in world history were people able to buy houses with no money down, many people bought four or five houses with no money down and no job and then they did it with cars and student loans and credit card loans, you just think we say well that’s too bad we’re gonna start over nobody loses his job….be realistic,” said Rogers.

Rogers said that the G7 leaders, who are meeting this weekend, should “go down to the bar, have a beer and leave the rest of us alone, let the people who are sound succeed and let the other people fail.”

“What I’m afraid of is they’re gonna keep doing what they’ve been doing - which the market hates, you can see the market hates it - because this is going to unleash rampant inflation around the world, rampant confusion in the currency markets and you’re gonna have currencies gyrating all over the world,” said Rogers, repeating that the central bankers were unleashing an “inflationary holocaust”.

A CNBC expert then expressed his confusion at Rogers’ argument that overprinting of currency caused hyper inflation, seemingly displaying less grasp of basic economic cause and effect principles than a 5-year-old would.

Rogers again made the point, “When you print gigantic amounts of money and you flood the world with money, throughout history that has led to inflation.”

http://www.youtube.com/watch?v=xIsHD7nwTbU

Q: What is the difference between a pigeon and an investment
banker?
A: A pigeon can still put a deposit on a Ferrari
 

Q: What is the definition of optimism?
A: An investment banker ironing five shirts on a Sunday night
 

Q: What is the one thing Wall St and the Olympics have in common?
A: Synchronized diving

While Mr. Watsons ideas are not without merit, It is also important to note that the Capital markets and the Equity markets are not directly linked.

The equity market has always been subject to swings based on anticipation of outcome. Simple Example; a large storm hits, share prices of  insurance companies take a dive due to the expectation that an increased number of claims will result in lower earnings.

While there is valid reason for a number of industries to be marked down as a result of the current squeeze on banks and associated industries (fears of default), it should also be noted that stock prices trade on multiples of Price/Earning. With all the doom and gloom being broadcast, people are naturally cautious and have begun to "Cut Back" on spending. This is clearly going to be reflected in a companies' earnings and their respective P/E's are likely to be "out of sync". Hence,  the lowering of a share price, add to this the uncertainty surrounding the global capital markets, and equities will remain in a down swing until; 1. confidence is restored by more positive economic data (unlikely) , or  2. the consensus of Inverstors' is that buying equities at a given price represents a bloody good investment (upswing in consumer confidence).

The notion that creating currency will lead to inflation is only valid in isolation. If a nation creates currency to pay it's international debt, it's currency will be perceived as less valuable and the price it will have to pay for the import of goods and services will clearly go up. In a global economy,  a global and unilateral increase in currency will not, by itself, lead to galloping or hyper inflation ...  but then, nor will it fix the current problem, further, IMO While oil prices remain on a down swing, short of a complete collapse of the us banking system, we will not see hyper inflation. 

When we accept that the federal reserve is a privately held organization, made up solely of banks (founded in 1913 by no other than JP Morgan), we begin to understand why the emphasis is being placed on the "bailout" of banks, rather than fixing the underlying problem that exists, and which is being made worse by the credit squeeze.

The solution ... plain and simple, privatize the Federal Reserves, or at least, return the sovereign right to create money back to the treasury, privatize the failing wall street banks (or at least a few of those worth saving)  and fix the original problem, that of slumping housing market brought on by foreclosures, by implementing the return of the HOLC as outlined in an a recent NY Times article.

http://www.nytimes.com/2008/02/24/business/24view.html

jda, ugly, babyE, ppp, osk, all are excellent posts.  Jda, your suggestion to nationalize the fed and/or for the people to take over the right to issue currency is not only required b our US Constitution, but makes complete sense.