THE 9/11 “BIG LIE”. WHEN FICTION BECOMES FACT…
Author Archive
America’s War at Home and Abroad Selected Articles…
Related articles
- Selected Articles: An Empire of Terror (justiceday.wordpress.com)
- NATO wants Libya to become another Somalia – analyst (rt.com)
- U.S. Imperialism Abroad Creating Police State At Home | Veterans Today (gunnyg.wordpress.com)
- You: Censorship of war casualties in the US (nation.com.pk)
This is What Happens When a Government Defaults…(repost)
Image via Wikipedia
For many investors in silver and gold, they invest as a hedge against inflation and also against government default. Most investors find it hard to believe that we will actually see a major government default on their debt. Is this outside of the realm of possibility? Unfortunately the answer is no.
The article below by Andrew Lilico of the London Telegraph lays out a very thorough outlook of what might occur when Greece defaults. Notice I did not say if but when. There are multiple leaders within Europe and different respected economists who have shown that Greece simply cannot pay its bills and is left with only one option: default.
By LIVE SILVER PRICES
As a disclaimer, I do not agree with everything written here, but I think his general points are well developed. Let’s see what a default would look like.
“It is when, not if. Financial markets merely aren’t sure whether it’ll be tomorrow, a month’s time, a year’s time, or two years’ time (it won’t be longer than that). Given that the ECB has played the “final card” it employed to force a bailout upon the Irish – threatening to bankrupt the country’s banking sector – presumably we will now see either another Greek bailout or default within days.
What happens when Greece defaults. Here are a few things:
- Every bank in Greece will instantly go insolvent.
- The Greek government will nationalize every bank in Greece.
- The Greek government will forbid withdrawals from Greek banks.
- To prevent Greek depositors from rioting on the streets, Argentina-2002-style (when the Argentinian president had to flee by helicopter from the roof of the presidential palace to
evade a mob of such depositors), the Greek government will declare a curfew, perhaps even general martial law.
- Greece will redenominate all its debts into “New Drachmas” or whatever it calls the new currency (this is a classic ploy of countries defaulting)
- The New Drachma will devalue by some 30-70 per cent (probably around 50 per cent, though perhaps more), effectively defaulting 0n 50 per cent or more of all Greek euro-denominated debts.
- The Irish will, within a few days, walk away from the debts of its banking system.
- The Portuguese government will wait to see whether there is chaos in Greece before deciding whether to default in turn.
- A number of French and German banks will make sufficient losses that they no longer meet regulatory capital adequacy requirements.
- The European Central Bank will become insolvent, given its very high exposure to Greek government debt, and to Greek banking sector and Irish banking sector debt.
- The French and German governments will meet to decide whether (a) to recapitalise the ECB, or (b) to allow the ECB to print money to restore its solvency. (Because the ECB has relatively little foreign currency-denominated exposure, it could in principle print its way out, but this is forbidden by its founding charter. On the other hand, the EU Treaty explicitly, and in terms, forbids the form of bailouts used for Greece, Portugal and Ireland, but a little thing like their being blatantly illegal hasn’t prevented that from happening, so it’s not intrinsically obvious that its being illegal for the ECB to print its way out will prove much of a hurdle.)
- They will recapitalise, and recapitalise their own banks, but declare an end to all bailouts.
- There will be carnage in the market for Spanish banking sector bonds, as bondholders anticipate imposed debt-equity swaps.
- This assumption will prove justified, as the Spaniards choose to over-ride the structure of current bond contracts in the Spanish banking sector, recapitalising a number of banks via
debt-equity swaps.
- Bondholders will take the Spanish Banking Sector to the European Court of Human Rights (and probably other courts, also), claiming violations of property rights. These cases won’t
be heard for years. By the time they are finally heard, no one will care.
Attention will turn to the British banks. Then we shall see…”
The one option that is not laid out is European governments continuing to extend bailouts to Greece and the economic time bomb is kicked further down the road. So how would silver and gold be impacted? As I have mentioned before, I think there are two options. First, we could see the historic result.
Mainly, investors could flood into the dollar causing appreciation of the dollar and a fall in commodity prices. On the other hand, investors could see precious metals as a safe haven, which would cause the price on both silver and gold to go up.
Quite frankly, when we see Europe dive into this economic crisis, we will see a global economic crisis, which could make 2008 look like a piece of cake. This means that there will be very few places investors can safely put their money. All the equity markets will be hit severely and there will be such a fear of government debt after the situation in Europe that leaves very few options for investors.
The question is will investors challenge the normal course of action or set a new course during these hard economic times?
More on this topic (What’s this?)
How Greek Default Could Double-Dip U.S. Economic Recession (Investment U, 6/30/11)
Why You Should Care About the Greek Debt Default (Investment U, 7/14/11)
Was Greek Finance Minister Fired Because of a Slip of Tongue? (The Prudent Investor – Seeing To…, 6/17/11)
A Greek Default is Bad – But a Greek Bailout Much Worse (Money Morning, 6/3/11)
Related articles
- Greece suffers new credit downgrade (usatoday.com)
- When Greece defaults (propellresearch.wordpress.com)
STILL BELIEVE WE ARE A FREE NATION?…
Image via Wikipedia
We are grateful to the Washington Post, The New York Times, Time Magazine and other great publications whose directors have attended our meetings and respected their promises of discretion for almost 40 years. It would have been impossible for us to develop our plan for the world if we had been subjected to the lights of publicity during those years. But the world is more sophisticated and prepared to march towards a world government. The supranational sovereignty of an intellectual elite and world bankers is surely preferable to the national auto-determination practiced in past centuries.
- David Rockefeller, Bilderberg, 1991
Related articles
- Project Mockingbird ? (2012patriot.wordpress.com)
- Plutocratic Puppeteers Meet In Switzerland For Annual Bilderberg Conference (disquietreservations.blogspot.com)
- Bilderberg: The Uber-Powerful Global Elite Meet Behind Closed Doors in St. Moritz (time.com)
- Expose History of Bilderberg Group (raymondjclements.wordpress.com)
Masterminds, Mosques and Mass Insanity: “War on Terrorism” Propaganda Ratcheted up Ahead of War Escalation…
Demographically speaking there is concern as some countries control birthrates as others go forth and prosper…so to speak…This can only eventually come down to one end game as certain populations diminish and others prosper…Ironically enough our one saving grace may be the polygamist fractions in the country who seem to be the only ones producing children…[I am not endorsing this, I just read an article in National Geographic about the break away Mormons who still practice polygamy; ... which made me think of this subject]…see below…
~jude
Muslim Europe: the demographic time bomb transforming our continent
The EU is facing an era of vast social change, reports Adrian Michaels, and few politicians are taking notice
By Larry Chin
Global Research, August 20, 2010
Exemplified by the furor over the so-called “Ground Zero mosque” in New York, and rumors of a new Al-Qaeda “mastermind”, 9/11 “war on terrorism” propaganda has been ramped up to deafening levels by various political factions.
Nearly a decade since Bush/Cheney’s 9/11 false flag deception, a fearful, self-destructive American mass public remains fully brainwashed by “war on terrorism” deception— ignorant of history, and militantly oblivious to facts.
“Ground Zero mosque”: the art of missing the point
The ludicrous uproar over plans to build a Muslim community center in New York, the so-called “Ground Zero mosque” has dominated mainstream corporate news headlines. Political players from all sides, including President Barack Obama have joined the fray, attempting to prove themselves the superior “anti-terrorist”, or the better “commemorator of 9/11, when 3,000 people were killed by Muslim terrorists”. The right-wing is going berserk, gleefully.
Heated arguments have exploded around religion, tolerance, democracy, etc.—everything except the only fact that matters: 9/11 was a false flag operation, courtesy of the Bush-Cheney administration, carried out by an elite consensus, in order to justify the “war on terrorism”, and everything that came with it. Mass murder. Unending resource conquest. A police state within US borders. Open criminality.
The perpetual threat posed by a fabricated outside enemy, and a militarized, fearful populace, remain the centerpieces of elite policy, and they have been consistently maintained by both Bush/Cheney and Obama administrations. The demonization of Muslims continues to facilitate pillage.
While violent hatred continues to be directed at Muslims (and all “foreigners”), the criminals who truly massacred 3,000 people in the World Trade Center continue to enjoy power, wealth, and high positions of world “leadership” and remain in control of virtually every aspect of society. Those who perpetuate the cover-up (including the Obama administration) still “run the world”, to mass public enthusiasm.
As the “Ground Zero mosque” mushrooms into a full-blown election year battle cry by one faction or another, not whisper of truth appears in any corporate media coverage. Meanwhile, the exhaustive and available information thoroughly exposing and destroying the official “war on terrorism” narrative is unknown to a minority of people whose critical faculties remain intact.
Russia…Aiming to Capitalize On Fast Reactors…
America’s infrastructure is falling down and failing, especially in the energy department. Between Environmental groups, opposed [obsessed] to everything but clean energy [which just isn't viable now], and the BP incident [how convenient] we better decide on either Nuclear or Oil/Coal/Natural Gas [FROM HOME] to fuel industry and keep this country moving…We are already considered a second rate country… The division of our citizens [which has so successfully succeeded in freezing us] and the CCE [Corrupt Corporate Elitists #judeword] has successfully divided this country, and are taxing us to/till and after death. They tumbled the entire financial, housing,and now health sectors [to their benefit], and stand to make even more money as we just sit and watch. ~Congratulations~We better *get it* soon or this nation as we know it will be doomed forever…It has been shown that empires don’t last long so we need to turn inward and repair ourselves, gain back our Constitutional “Rights”, and start rebuilding. I’m hoping that there are still enough Americans out there who can and will work…A socialistic society has been proven to be an enabler…I have watched this happen around me with my own eyes…How is it we have an immigration problem?…They come here for work and a better life…A life we shall all see soon to become nonexistent for the “working class of America”…We have just watched the greatest transfer of wealth this nation has ever seen. We stood by and not only watched it but enabled and are still enabling it to happen…
~jude
Valery Bushukhin / Itar-Tass
Workers in white uniforms carrying out maintenance work in the Beloyarsk nuclear power plant in the Sverdlovsk region.
Editor’s note: This is the fifth and last in a series of articles about President Medvedev’s efforts to modernize the economy.
The idea to build more efficient and environmentally friendly nuclear reactors, which Rudolf Baklushin helped test in the Soviet Union decades ago, has had its ups and downs.
As deputy chief engineer, he oversaw the construction and — in 1973 — the opening of the first Soviet fast breeder reactor, which produces more fuel than it burns and yields less dangerous waste.
“I volunteered because it promised new, interesting work and new prospects for the industry,” said Baklushin, who is now a nuclear scientist at an institute near Moscow.
But costs of building such reactors were high, and when geologists discovered new, extensive deposits of uranium, the development of the technology was no longer considered a priority.
But despite being at least half a century old, the idea has assumed a fresh urgency recently since President Dmitry Medvedev made it part of his modernization agenda.
Should further tests of the technology succeed, Russia will by 2020 start to commercially produce the reactors — capitalizing on an impressive worldwide lead in the research.
“I would say Russia is certainly the leader in fast reactor technology,” said Michael Driscoll, professor emeritus of nuclear engineering at Massachusetts Institute of Technology. “Second, I would say, is France.”
Some of the 26 reactors that Rosatom, the state nuclear corporation, plans to build before 2030 will use the new technology, corporation spokesman Sergei Novikov said. According to the corporation’s outlook, it will completely phase out the current, third-generation equipment by the start of next century.
Medvedev’s prioritization of the technology last year assured the project a guarantee of receiving sufficient federal spending amid Russia’s uneasy recovery from the global economic crisis. The government has allocated 110.4 billion rubles ($3.6 billion) for research in this and other nuclear energy areas until 2020 under the New Generation Nuclear Technologies program adopted in February.
Gulf of Mexico DEAD ZONE – Largest Ever….
The area of hypoxia, or low oxygen, in the northern Gulf of Mexico west of the Mississippi River delta covered 20,000 square kilometers (7,722 square miles) of the bottom and extended far into Texas waters. The relative size is almost that of Massachusetts. The critical value that defines hypoxia is 2 mg/L, or ppm, because trawlers cannot catch fish or shrimp on the bottom when oxygen falls lower.
Preparing for World War III, Targeting Iran…
- Image via Wikipedia
Part I: Global Warfare
By Michel Chossudovsky
Humanity is at a dangerous crossroads. War preparations to attack Iran are in “an advanced state of readiness”. Hi tech weapons systems including nuclear warheads are fully deployed.
This military adventure has been on the Pentagon’s drawing board since the mid-1990s. First Iraq, then Iran according to a declassified 1995 US Central Command document.
Escalation is part of the military agenda. While Iran, is the next target together with Syria and Lebanon, this strategic military deployment also threatens North Korea, China and Russia.
Since 2005, the US and its allies, including America’s NATO partners and Israel, have been involved in the extensive deployment and stockpiling of advanced weapons systems. The air defense systems of the US, NATO member countries and Israel are fully integrated.
This is a coordinated endeavor of the Pentagon, NATO, Israel’s Defense Force (IDF), with the active military involvement of several non-NATO partner countries including the frontline Arab states (members of NATO’s Mediterranean Dialogue and the Istanbul Cooperation Initiative), Saudi Arabia, Japan, South Korea, India, Indonesia, Singapore, Australia, among others. (NATO consists of 28 NATO member states Another 21 countries are members of the Euro-Atlantic Partnership Council (EAPC), The Mediterranean Dialogue and the Istanbul Cooperation Initiative include ten Arab countries plus Israel.)
The roles of Egypt, the Gulf states and Saudi Arabia (within the extended military alliance) is of particular relevance. Egypt controls the transit of war ships and oil tankers through the Suez Canal. Saudi Arabia and the Gulf States occupy the South Western coastlines of the Persian Gulf, the Straits of Hormuz and the Gulf of Oman. In early June, “Egypt reportedly allowed one Israeli and eleven U.S. ships to pass through the Suez Canal in ….an apparent signal to Iran. … On June 12, regional press outlets reported that the Saudis had granted Israel the right to fly over its airspace…” (Muriel Mirak Weissbach, Israel’s Insane War on Iran Must Be Prevented., Global Research, July 31, 2010)
In post 9/11 military doctrine, this massive deployment of military hardware has been defined as part of the so-called “Global War on Terrorism”, targeting “non-State” terrorist organizations including al Qaeda and so-called “State sponsors of terrorism”,. including Iran, Syria, Lebanon, Sudan.
The setting up of new US military bases, the stockpiling of advanced weapons systems including tactical nuclear weapons, etc. were implemented as part of the pre-emptive defensive military doctrine under the umbrella of the “Global War on Terrorism”.
War and the Economic Crisis
« Older Entries