Spain Sets Massive Precedent — Charges Its Central Bankers in Court

Source: ActivistPost.com
Claire Bernish
February 21, 2017

First, Iceland, and now Spain has taken on the Big Bankers responsible for financial calamity, as the country’s highest national court charged the former head of Spain’s central bank, a market regulator, and five other banking officials over a failed bank leading to the loss of millions of euros for smaller investors.

This, of course, markedly departs from the mammoth taxpayer giveaway — commonly referred to as the bailout — approved by the U.S. government ostensibly to “save” the Big Banks and, albeit unstated, allow the enormous institutions to continue bilking customers without the slightest fear of penalty.

Errant bankers and financiers, it would seem, typically manage to either evade actually being charged, or escape hefty fines and time behind bars.

Spain’s Supreme Court last year ruled “serious inaccuracies” in information about the listing led investors to back Bankia in error, thus the bank has since paid out millions of euros in compensation.

But Spanish authorities could not abide the telling findings of a years-long investigation into the failed listing, as Wolf Street explains,

As part of the epic, multi-year criminal investigation into the doomed IPO of Spain’s frankenbank Bankia – which had been assembled from the festering corpses of seven already defunct saving banks – Spain’s national court called to testify six current and former directors of the Bank of Spain, including its former governor, Miguel Ángel Fernández Ordóñez, and its former deputy governor (and current head of the Bank of International Settlements’ Financial Stability Institute), Fernando Restoy. It also summoned for questioning Julio Segura, the former president of Spain’s financial markets regulator, the CNMV [National Securities Market Commission] (the Spanish equivalent of the SEC in the US).

The six central bankers and one financial regulator stand accused of authorizing the public launch of Bankia in 2011 despite repeated warnings from the Bank of Spain’s own team of inspectors that the banking group was ‘unviable.’

As AFP reports, “The National Court validated conclusions made by prosecutors who concluded that when ‘an unviable entity has been listed on the stock market, its administrators or auditor should not shoulder all the responsibility.’”

Specifics of the charges have not yet been made apparent, but as The Economist reports:

The court is questioning why they allowed Bankia to sell shares in an initial public offering in 2011, less than a year before Bankia’s portfolio of bad mortgage loans forced the government to seize control of it. It said there was evidence the regulators had ‘full and thorough knowledge’ of Bankia’s plight. After its nationalisation, it went on to report a €19.2bn ($24.7bn) loss for 2012, the largest in Spanish corporate history.

Internal emails and documents played a crucial role in ultimately bringing the central banking officials to task for the failure of Bankia — inspectors bringing issues to the attention of superiors were allegedly ignored. One email cited by The Economist came from an inspector who warned Bankia was “a money-losing machine,” for which an IPO would not solve.

Another report, deemed “devastating by the court,” saw an inspector advise Bankia to seek a private buyer rather than proceed with the listing.

Continue Reading At: ActivistPost.com

India To Gates, Nigeria To I.G. Farbensanto: Get Out: Time For A…

Source: GizaDeathStar.com
Dr. Joseph P. Farrell Ph.D.
February 18, 2017

Things are definitely getting interesting, if you haven’t noticed. Two of the stories that have attracted my interest recently are, firstly, the studies of vaccines conducted in Italy, and (surprise surprise) the Italians found all sorts of …well… just plain old crud in them.  It’s been getting so bizarre than there are actually indications that animal vaccines are cleaner than the vaccines that Big Pharma wants to give you and your kids. Secondly, the other story that has captured my interest was, of course, the rumors that President Trump’s administration was considering appointing Reobert F. Kennedy Jr. to chair a panel to investigate the CDC and the alleged science behind the safety of the modern vaccine.  In fact, things are so interesting I don’t know whether to categorize this under “Babylon’s Banksters” or the “GMO Scrapbook” or “Call it Conspiracy,” and you’ll see why in a moment.

In any case, I say “alleged science” because it’s looking increasingly like there wasn’t much of it: corporately approved “science” continues to assure us that all vaccines are safe (and that mercury and aluminum in them isn’t harmful and doesn’t cause Alzheimers or autism), that all GMOs are safe, that there’s no human cost to their consumption, and that it will solve world hunger in spite of real studies of rising costs, falling yields, and increased risks.

Underlying all this, there’s a growing revolt against not only Mr. Globaloney, but against his mega-corporations and what appears to be, at best, a consistent policy of profits at any cost, and at worst, a deliberate policy inhumanity designed to depopulate, to strip the middle class of every last breath of their wealth and labor, and to make people perpetually sick and dependent upon them. But there’s growing backlash to them. Consider these two stories from that perspective:

Monsanto GMO Seeds in Nigeria, Breaking the Agricultural Cycle, Complicity of UN World Food Program

India Ends Ties With Gates Foundation on Vaccines Over Worries of Big Pharma Influence

http://www.thelastamericanvagabond.com/health/india-ends-ties-gates-foundation-vaccines-worries-big-pharma-influence/embed/#?secret=bCAKyqGYFf

India has, of course, suffered tremendously under the assaults of “Amerimegacorp” (for want of a better expression). We recall the stories about vaccine experiments from a few years ago being sponsored by said foundation. But the timing of this story with the Italian story I blogged about last week is interesting.  Similarly, Indian farmers were committing suicide a few years ago under the onslaught of GMOs (guess what company was involved?): loans were made to buy GMO seeds, the cycle of Indian agriculture  was disrupted as natural seeds were abandoned. The more expensive seeds ruined many Indian farmers. The study cited by the Indian government captures my fundamental contention that one of the memes of the major cultural paradigm shift we’ve been entering for the past decade:  big mega-corporations and their ideologies are now under assault, and this, I suspect, is a generalized cultural phenomenon that will not go away. Here’s how that study put it:

According to the Global Policy Forum, who’s study was used in India’s decision to cut their ties with the Gates Foundation, BMGF is not always a force for good. In their report, Gated Development – is the Gates Foundation always a force for good? — Mark Curtis explains:

Gated Development demonstrates that the trend to involve business in addressing poverty and inequality is central to the priorities and funding of the Bill and Melinda Gates Foundation. We argue that this is far from a neutral charitable strategy but instead an ideological commitment to promote neoliberal economic policies and corporate globalisation. Big business is directly benefitting, in particular in the fields of agriculture and health, as a result of the foundation’s activities, despite evidence to show that business solutions are not the most effective.

Perhaps what is most striking about the Bill and Melinda Gates Foundation is that despite its aggressive corporate strategy and extraordinary influence across governments, academics and the media, there is an absence of critical voices. Global Justice Now is concerned that the foundation’s influence is so pervasive that many actors in international development, which would otherwise critique the policy and practice of the foundation, are unable to speak out independently as a result of its funding and patronage.

The Nigeria article confirms yet another connection:

It reveals that, Bill Gates and Monsanto in collaboration with the WFP and World Bank are implicated in the carnage created by Boko Haram’. It is inevitable that the poor farmers must buy the new seeds from Monsanto or else they would be out of business. The devastation that awaits the farmers in the Northeast is even greater than the present. The cost of seeds from Monsanto could go as high as 30 times as was the experience in India with Bt Cotton , where 300,000 farmers committed suicide because they could not meet up with costs of seeds.

Despite the false promises and propaganda, the scientific facts show that GMO crops are failing to control pests and weeds, and have instead led to the emergence of superpests and superweeds. 

Monsanto which is owned in part by Bill Gates, the American billionaire who is actively engaged in Nigeria personally, and through several envoys including Melinda Gates, NGOs, and proxies in the World Bank and Africa Development Bank, has worked relentlessly to deceive Africa leaders and trick them into approving GMOs and Hybrid seeds. Bill Gates wants to control the seed market for all foods in Africa’s most populous nation, Nigeria. (Italicized-bold emphasis added).

Now throw in one more context for this emerging trend: the clear involvement of billionaire busibodies like Gates and Soros in formulation of domestic and foreign policy via their privileged  tax exempt foundations. And increasingly, their policies and “science” are revealed not only to be inhuman, but anti-human, regardless of the rationalizations they may tell themselves.

So where am I going with all this? It’s time to have a discussion about “charitable foundations” – all of them – aBdfdfdfdfnd their relationship to governments and the big mega-corporations.  I think it’s high time for another Reece committee investigation of foundations. And my suggestion for chief counsel for said committee would Julian Assange. And my suggestion for that putative committee would be to start at the top: Rockefailure, the billionaire busybody Gates,  Darth Soros, the whole lot of them.

Let’s call this moment of history, the “Philippe le Bel” moment of history.

Philip was, of course, the King of France who – so the official narrative goes – had so indebted himself and France that he approached the Templar Order for a loan, and was refused. He then decided to shut down the order in a coordinated raid on all their houses and preceptories throughout France, all on one day, via secret and sealed orders. The reason, he wanted to get his hands on the fabled “Templar Treasure” and “ledgers and papers.” What he found was nothing. And ever since academics have listed the “fabled Templar Treasure” and “ledgers” as just another conspiracy theory for which there was no evidence. Templar fleets had set sail (so the story goes), perhaps taking their archives and treasure with them.  Academics, of course, miss the point, but it’s one that anyone of common sense will understand: the Templar order, the richest in Europe, was involved in banking, in policy making, in warfare. To find the treasure, to know for sure if they were up to sedition against the King, one had to have the key to all that: not the physical stocks of bullion, but the ledgers, the records.  And yet, when Philippe le Bel struck, there was…

nothing.

Let that sink in for a moment, and while you do, recall that the  chief council for the Reece committee, Rene Wormser, stated in his book about that committee, Foundations, Their Power and Influence, that the modern tax-exempt foundation was but a new form of the old mediaeval military crusading orders, like… the Templars.

So what would such a committee find by summoning and subpoenaing the records of those foundations? Probably nothing… sanitized records, missing records… but that, in itself, would speak volumes.  Especially if those foundations have been penetrated, and copies made…

See you on the flip side…

Read More At: GizaDeathStar.com
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About Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and “strange stuff”. His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into “alternative history and science”.

More Fines For Deutsche Bank For Russian Trades

Source: GizaDeathStar.com
Dr. Joseph P. Farrell Ph.D.

If you’ve been following the strangeness in banking over the past few years (and decades for that matter) you’ll have noted certain names to keep popping up, and this is particularly the case in the aftermath of 9/11, and one of those names is Deutsche Bank. This article was shared by Mr. M.M., and there’s a few things in this article that caught my attention, but unless one knows the story, the bland reporting of the Reuters article will cause those things to go completely unnoticed. Besides being under investigation in Italy for some shady trading deals implying the use of the float to generate money (see https://gizadeathstar.com/2017/01/eye-looming-storm-bankster-deaths-missing-money-deutsche-bank-part-two-promis-will-float/), and besides having already been hit with fines for other things, being under investigation for helping to rig the London Inter-Bank Offered Rate (LIBOR), now the big German bank is being hit with fines for trades involving Russia:

Deutsche Bank fined for $10 billion sham Russian trades

Now, if one has been following the strangeness going on in Europe ever since the Advent and Epiphany of Mad Madame Merkel, one might get the idea that there is something very real and very messy going on behind the scenes; it is almost as if a covert warfare, much of it economic, were being waged against Germany; first the former German Foreign Minister, Steinmeir, gave a little talk in Berlin to assembled German businessmen a few years ago, informing them that Germany’s foreign policy would have to become more “militaristic”. He spouted a bunch of globaloney to buttress his position, but in the end, one didn’t really have a clear picture as to why it was necessary to do so. Then Germany announced it wanted to triple the size of its military and bring it back to Cold War standards of size, then Germany backed the creation of an all-European army, and now it wants to open its military to foreigners, EU army or no (see today’s “tidbit.”) Volkswagen was hit with stiff fines for falsifying its emissions by the USA, and Deutsche Bank is being hit with fine and after fine from Washington and London… then came BREXIT.  And through it all, persistent attacks on Deutsche Bank, a major bank within the Western system of finance. It almost leaves one with the impression that someone, somewhere, wants to drive it into the ground, or at least peel it away from that system.

Whether all of this be true or not is, alas, the subject perhaps of a more lengthy examination in the future, for it is not the subject for today’s high octane speculation.

What is of interest in the Reuters article by Karen Freifeld and Arno Schuetze is the following:

Deutsche Bank (DBKGn.DE) has agreed to pay $630 million in fines for organizing $10 billion in sham trades that could have been used to launder money out of Russia, the latest in a string of penalties that have hammered the German lender’s finances.

In two detailed reports, U.S. and British regulators criticized the bank for not knowing the customers involved or the source of money for the trades, which helped buoy revenue during a slowdown following the global financial crash.

The scheme involved so-called mirror trades carried out between 2011 to 2015 – for instance, buying Russian stocks in roubles for a client and selling the identical value of a security for U.S. dollars for a related customer.

Note firstly that some of these trades were executed after the sanctions on Russia, and secondly, that it involved laundering money out of Russia. But then we’re told there are missing documents, and that apparently the US Department of Justice was looking even deeper:

Karl von Rohr, Deutsche Bank’s chief administrative officer, said the bank regretted its role in the Russian trades scheme and that it had since acted to address shortcomings.

He cautioned, however, that other authorities were investigating the trades and that the matter was not yet closed.

The U.S. Department of Justice is not part of the deal and is still looking into the trades. A spokesman declined to comment on its inquiry.

What disturbs me here is the potential that Deutsche Bank’s alleged activities, at least in so far as Reuters is reporting them, might represent a continuation of the “rape of Russia” policies that began shortly after the collapse of the Soviet Union, under the fragile government of Mr. Yeltsin. That rape had many players, among them the Bank of New York, and the Harvard Institute of International Development (See Anne Williamson ‘s “Testimony Before the Committee on Banking and Financial Services of the United States House of Representatives, Sept 21, 1999, here: BankstersInRussiaAndGlobalEconomy.htm). Yes, that’s the same Bank of New York that some 9/11 researchers implicate in mysterious securities clearing after 9/11, and that’s the same Harvard Institute of International Development that, according to Ms. Williamson, “advised” the Clinton Administration on its “austerity” policies. The result of those policies, argues Williamson, was the rape of the Russian people, and a massive transference of wealth into the hands of the old nomenklatura and into the hands of Western oligarchs.

So where’s the high octane speculation here? Note that the German bank’s activities would, as I suggested above, seem to fit this pattern. But also note the equally if far more curious thing that it is being fined for those activities. I see two possible ways to interpret this: (1) the German bank wanted…

Continue Reading At: GizaDeathStar.com
________________________________________________

About Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and “strange stuff”. His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into “alternative history and science”.

At The Eye Of A Looming Storm? Those Banker Deaths & More Missing…[Part 2]

Banksters
Source: GizaDeathStar.com
Dr. Joseph P. Farrell
January 29, 2017

Yesterday I began this two part blog by noting an important article that appeared in Bloomberg Business Weekly, authored by Vernon Silver and Elissa Martinuzzi, concerning how Deutsche Bank made billions disappear from its books. At the end of that blog, I noted the banker deaths that mysteriously surrounded the Deutsche Bank transactions with Michele Faissola and the Italian Banca dei Paschi di Sienna, a bank in continuous operation since the Renaissance. I also noted Bloomberg’s “take” that this transaction was a microcosm of Deutsche Bank’s other operations. Finally, I noted that the banker deaths were not confined to associations with Deutsche Bank, but that they engulfed other prime banks and even some insurance institutions in the Western financial system, among them J.P. Morgan Chase. So to refresh our memory, we have the following elements:

(1) Derivatives trade, which comprise in part mortgage-based securities, that are tied to “triggers” such as interest rates;

(2) Deutsche Bank’s role in helping rig the LIBOR(London Inter-Bank Offered Rate), one such “trigger”;

(3) the global phenomenon of banker deaths, which I now hypothesize is an indicator that Deutsche Bank’s practices are, indeed, not confined to that bank alone but part of a systemic “operating procedure” for purposes yet to be speculated about; and,

(4) the details of the Deutsche Bank-Banca dei Paschi di Sienna transaction, currently being investigated and adjuticated in Italy.

Let us refresh our memory on the details of that last point, for they bear directly on today’s high octane speculation, which I have titled “I PROMIS you it will Float”:

That’s typically a red flag to auditors and regulators, and it took almost a month for Deutsche to alter the deal so it contained a small amount of actual risk. The bankers did this by mixing in two interest rate triggers—that is, prices to be fed into a formula that would determine how much money the participants in the trade had to pay or receive from each other. But that created a slight possibility that Paschi could win both sides of the bet. To mitigate this potential Deutsche loss—as much as €500 million—Deutsche added a third trigger. Underlying the now complex flowcharts of rates, payments, and triggering events was the asset on which the transactions were to be based: about €2 billion in Italian government bonds.

Further illustrating the incestuousness of the deal, Paschi would need to buy the bonds and hand them over to Deutsche as collateral. Deutsche, for the sake of its own accounting, would need to sell the bonds to come up with cash that it then would give right back to Paschi to pay off the Santorini loss. And Paschi would buy the bonds in the first place from a third bank that had bought them from Deutsche.

Now notice that this is simply a circular “triangle” designed to facilitate the accounting practice that would allow the whole transaction to be kept off the balance sheets:

Deutsche also benefited from the way it accounted internally for its side of the deal. That complex shuttling of Italian bonds? The bank decided that all of the back-and-forth maneuvers canceled themselves out and did not need to appear on its balance sheet. Deutsche began to apply the practice to transactions around the world, totaling more than $10 billion that never showed up on its books and making the bank look smaller and less risky than it really was.

But what is really going on? I suspect it has a great deal to do with a method of generating money and keeping that money off the books, a method known as the “float.” (There are actually two kinds of floats here, but we’re only considering one of them in this exercise of high octane speculation). Investopedia defines the first type of float this way:

Money in the banking system that is briefly counted twice due to delays in processing checks. Float is created when a bank credits a customer’s account as soon as a check is deposited. However, it takes some time for the check to be received from the payer’s bank. Until the check clears from the payer’s bank, the amount of the check appears in the accounts of both the recipient’s and payer’s banks.(See Investopedia: What does “float” mean?)

Notice that money deposited in an account appears on the bank’s books as a liability of the bank; however, prior to actual clearing of the transaction, both at the paying and receiving end, that money is in a kind of accounting limbo, during which time it can actually function as a “hidden” reserve, allowing the bank to use it for very quick transactions on which it will earn more money, before the transaction is cleared.

In this case, the Deutsche Bank-Banca dei Paschi di Sienna triangular transaction created an enormous float, which could be conveniently tracked in real time by…oh, say, a database management software program like PROMIS, brainchild of Inslaw Corporation and its founder, William Hamilton. As most readers here are aware, Inslaw’s software was stolen by the Reagan Justice Department, modified with several backdoors, and then covertly marketed by the American intelligence community to a variety of countries. As I noted in Hidden Finance, Rogue Networks, and Secret Sorcery, this software could track anything – including financial flows – in real time through a variety of databases.

Such money generated by this practice may, or may not, be entered on the bank’s books. In the latter case, it would constitute a “hidden reserve”, so to speak, which can then be used to create even more liquidity. As I’ve noted above, coupling this practice to the derivatives and to mortgage fraud – think only of Catherine Austin Fitts’ story detailing massive mortgage fraud in the Department of Housing and Urban Development when she was assistant secretary there, and one creates an enormous hidden financial system with a volume of liquidity that would probably boggle the mind, liquidity that in turn can be covertly used for a variety of purposes, from manipulation of markets of all sorts – commodities, bullion, interest rates and so on – to covert funding mechanisms for covert operations and, given the sheer scale of the system, funding for expensive black projects research and technologies, and even as a mechanism to fund “off world” projects and trade. Keeping the float secret is, I am arguing, a fundamental component of this hidden system of finance, and it would be a national security secret worth keeping at any price, including the murder of those who…

Continue Reading At: GizaDeathStar.com
__________________________________________________
About Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and “strange stuff”. His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into “alternative history and science”.

What deal did Donald Trump make with Goldman Sachs?

... the Next Impact Target After Goldman Sachs Snaps Up Imprint Capital
Source: NoMoreFakeNews.com
Jon Rappoport
January 12, 2017

Wall Street On Parade (January 9) details the boggling Goldman Sachs presence on Trump’s team. My comments will follow the list of names.

“Trump nominated Steven Mnuchin, a 17-year veteran of Goldman Sachs to be his Treasury Secretary.”

“Stephen Bannon, another former Goldman Sachs banker, was named by Trump as his Chief Strategist in the White House.”

“The sitting President of Goldman Sachs, Gary Cohn, has been named by Trump as Director of the National Economic Council, which, according to its website, coordinates ‘policy-making for domestic and international economic issues’.”

“…Trump nominated a Goldman Sachs outside lawyer, Jay Clayton of Sullivan & Cromwell, to serve as Wall Street’s top cop as Chairman of the Securities and Exchange Commission.”

“…Clayton’s wife currently works as a Vice President at Goldman Sachs.”

“According to Politico, Goldman Sachs partner, Dina Powell, President of the Goldman Sachs Foundation, is Ivanka’s ‘top adviser on policy and staffing’.”

“Then there is Erin Walsh who had worked at Goldman Sachs since 2010 as an Executive Director and head of its Office of Corporate Engagement for Asia Pacific…Walsh is now part of Trump’s transition landing team for the State Department and is engaged in prepping the just retired CEO of ExxonMobil, Rex Tillerson, for his Senate confirmation hearing this week to become the Secretary of the Department of State, according to Politico.”

“And there is yet another former Goldman Sachs banker, Anthony Scaramucci, who sits on Trump’s transition team.”

The first question is: would a Trump-Goldman deal benefit Trump in a personal way? Wall Street On Parade offers possible clues.

“Now the Dow Jones company, MarketWatch, has reported that Trump’s debt is held by more than 150 Wall Street firms. The New York Times has reported that Goldman Sachs Mortgage Company holds a loan on an office tower at 1290 Avenue of the Americas, a building that is 30 percent owned by Donald Trump.”

“Some of the Trump debt held by Wall Street firms, according to media reports, includes Donald Trump’s personal guarantee in the event of a default. The true owners of other Trump debt are shielded behind secretive Limited Liability Corporations…”

If Trump is in trouble with those loans, if he’s in danger of not being able to make his payments, then that fact could form the basis of a Goldman Sachs deal. Trump gets loan protection, Goldman gets a number of influential (and self-serving) seats at the big table in Trump’s administration.

Beyond this, Goldman Sachs is…I’ll let Matt Taibbi describe them. From his classic 2010 Rolling Stone article:

“The world’s most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. In fact, the history of the recent financial crisis [2008], which doubles as a history of the rapid decline and fall of the suddenly swindled dry American empire, reads like a Who’s Who of Goldman Sachs graduates.”

“By now, most of us know the major players. As George Bush’s last Treasury secretary, former Goldman CEO Henry Paulson was the architect of the bailout, a suspiciously self-serving plan to funnel trillions of Your Dollars to a handful of his old friends on Wall Street. Robert Rubin, Bill Clinton’s former Treasury secretary, spent 26 years at Goldman before becoming chairman of Citigroup — which in turn got a $300 billion taxpayer bailout from Paulson. There’s John Thain, the asshole chief of Merrill Lynch who bought an $87,000 area rug for his office as his company was imploding; a former Goldman banker, Thain enjoyed a multi-billion-dollar handout from Paulson, who used billions in taxpayer funds to help Bank of America rescue Thain’s sorry company. And Robert Steel, the former Goldmanite head of Wachovia, scored himself and his fellow executives $225 million in golden-parachute payments as his bank was self-destructing. There’s Joshua Bolten, Bush’s chief of staff during the bailout, and Mark Patterson, the current Treasury chief of staff, who was a Goldman lobbyist just a year ago, and Ed Liddy, the former Goldman director whom Paulson put in charge of bailed-out insurance giant AIG, which forked over $13 billion to Goldman after Liddy came on board. The heads of the Canadian and Italian national banks are Goldman alums, as is the head of the World Bank, the head of the New York Stock Exchange, the last two heads of the Federal Reserve Bank of New York — which, incidentally, is now in charge of overseeing Goldman…”

“The bank’s unprecedented reach and power have enabled it to turn all of America into a giant pump-and-dump scam, manipulating whole economic sectors for years at a time, moving the dice game as this or that market collapses, and all the time gorging itself on the unseen costs that are breaking families everywhere — high gas prices, rising consumer credit rates, half-eaten pension funds, mass layoffs, future taxes to pay off bailouts…”

So, Goldman Sachs wants to keep on doing what it has been doing. On the other hand, Trump wants a rising stock market—a symbolic signal that the economy is strong. Understanding that the market is manipulated by insiders, Trump would know where to go to make a deal.

Goldman gives him rising market numbers, and Trump gives them what they want. How much of what they want?

Another area where Goldman could provide help: assembling the funding for a major part of what appears to be an FDR New-Deal project to rebuild America’s infrastructure, putting large numbers of unemployed people back to work. The cost? At least a trillion dollars. Convincing Congress to back this plan—and also support Trump’s tax cuts—could run into a serious roadblock. The money has to come from somewhere.

It might be useful to analyze the ominous levels of public debt accumulated by state governments. The debt is floated on bond issues, and someone has to underwrite and guarantee those issues. Banks like Goldman Sachs are in that business. Trump may have approached Goldman with the premise that, by creating whole swaths of new jobs across the country, the states’ tax revenues will rise, and therefore the payback on Goldman’s investments will become more secure.

It seems certain that Trump is leaning heavily on Goldman to run interference for him. He is walking a risk-laden path.

Partnering with a vampire squid doesn’t inspire confidence.

Since I began writing and speaking about Trump…

Continue Reading At: JonRappoport.wordpress.com

Vatican Wants A Global Central Bank

Source: GizaDeathStar.com
Dr. Joseph P. Farrell
January 11, 2017

Color me surprised… NOT.

In this article shared by Ms. S.H., the Vatican recently sponsored a committee that called for (surprise surprise) a global central bank:

Vatican Calls For Central World Bank To Be Set Up Across The Globe

http://worldtruth.tv/vatican-calls-for-central-world-bank-to-be-set-up-across-the-globe/embed/#?secret=Kzk6ZGMgGc

I definitely think this to be a colossally, hugely, unabashedly bad (and furthermore) stupid idea, but one certainly in line with what the Vatican, and Papacy, really are, based on claims much of the Christian world, and most of the secular humanistic world, regard as egregiously false, and those claims are tyrannical. There is no other word for them. There is no dressing them up, no explaining them away, and no softening of them, for that institution itself has not softened them nor rejected them.

Why is this a colossally, hugely, unabashedly bad and stupid idea?

Years ago, on one of many interviews with the late George Anne Hughes of The Byte show, and in conjunction with a prolonged series of interviews about my book Babylon’s Banksters, I offered the opinion that eventually one would see the Vatican jump on the global government central bank bandwagon. My reasons were simple: throughout history, one has seen an alliance between the debt-money model, central banks, and religion… in short, an alliance between “money changers” and “the Temple,” and it seems to me I remember a certain Someone having something to say about that a couple of millennia ago. (Apparently, that Someone and His supposedly infallible “Vicar” are now in a bit of ideological conflict.) In a private correspondence with a friend, I also predicted that inevitably one would see a move toward a European currency, or a global currency, backed by the “moral suasion” represented by religion. The trouble is, what religion makes such universal political and temporal claims?

Answer: the Papacy.

And it’s been very clever in trying to distance itself not only from its own past, but from its own claims about itself. Recall that after the revolution of Vatican Two, Popes abandoned their sedan chairs and the papal tiara, the triple crown that symbolized and embodied the claims of the institution to have authority over the church triumphant (in heaven), the church suffering (in purgatory) and the church militant (on earth), each represented by one of the three crowns in the tiara. Pope Pius XII (Eugenio Cardinal Pacelli) was the last person to wear it, though Pope Paul VI was crowned with it, he seldom wore it in public functions. But amid all the flannel- and cotton-mouthed pronouncements of the Second Vatican Council, one central doctrine was treated in the old fashioned language: the papacy, and its claims, itself, and those pronouncements of Vatican Two stressed all the vocabulary of plenitudo potestatis that one was accustomed to from the mediaeval popes like Boniface VIII and Innocent III. It was, after all, Boniface VIII whose (aptly named) Bull, Unam Sanctam, stated clearly and unequivocally that it was necessary to salvation for every human creature to be subject to the Roman pontiff. Not in communion with, not adherent to other Catholic doctrine, but simply subject to the Papacy. And this itself was the subject of critique, not only by Eastern Orthodox theologians of the day (and since), but also of Roman Catholic theologians themselves: in the face of such supreme authority, what did the rest of Catholic doctrine really matter, if the sine qua non of being Catholic were mere submission to a claim of authority, whether or not that authority in other respects was even Catholic. The critique was leveled again by Roman Catholics, some even bishops, at the first Vatican Council that defined papal infallibility, and universal and immediate jurisdiction, in 1870-71.

The whole papal edifice and its claims have come again under scrutiny by Catholics dismayed by some of the current occupant of these claims’ recent pronouncements, some of which don’t sound all that “Catholic.” Francis has called for his more traditionally-minded opponents to be “flexible and adaptable”; but when push comes to shove, invokes papal authority. The rest of Catholic tradition and doctrine are wholly subservient to it. And that means, effectively, all Catholic doctrine and practice are up for grabs.

In short, as the Orthodox Churches have stated clearly and unequivocally since these claims were pressed on it a millennium ago: such claims are no part of Catholic doctrine or practice, and lie at the heart of the West’s schism from Orthodoxy ever since. The Protestants took up this renunciation of papal claims during the Reformation. It is the papacy, and its claims, that are at the heart of the disunity of Christendom, and that are at the heart of the issue.

So now the Vatican calls for a global central bank, and taxes on all financial transactions. And this is but another clue that the world of Boniface VIII is still alive and well, for one can assume that the Vatican wants its “cut of the action” in return for…

Continue Reading At: GizaDeathStar.com
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About Joseph P. Farrell

Joseph P. Farrell has a doctorate in patristics from the University of Oxford, and pursues research in physics, alternative history and science, and “strange stuff”. His book The Giza DeathStar, for which the Giza Community is named, was published in the spring of 2002, and was his first venture into “alternative history and science”.

It’s Beginning to Smell a Lot Like Totalitarianism, and I Don’t Mean Russia

It’s Beginning to Smell a Lot Like Totalitarianism, and I Don’t Mean Russia
Source: WilliamEngdahl.com
F. William Engdahl
December 13, 2016

If we smell precisely the stench of the totality of steps taken in NATO countries in recent months, especially in the United States and the European Union, we can smell the stench of totalitarian rule or some would call it, fascism, being quietly imposed on our basic human freedoms. Some recent examples give pause for reflection as to where we are allowing our world to drift.

Let’s begin with a most ominous, bizarre, Jesuitical interview that the Roman Catholic Pope Francis gave to a Belgian paper December 7, comparing what he calls defamatory news to what he called the “sickness of coprophagia.” He stated:

QUESTION – A final question, Holy Father, regarding the media: a consideration regarding the means of communication…

POPE – The communications media have a very great responsibility…It is obvious that, given that we are all sinners, also the media can…become harmful… They can be tempted by calumny, and therefore used to slander, to sully people, especially in the world of politics. They can be used as a means of defamation: every person has the right to a good reputation, but perhaps in their previous life, or ten years ago, they had a problem with justice, or a problem in their family life, and bringing this to light is serious and harmful… This is a sin and it is harmful. A thing that can do great damage to the information media is disinformation: that is, faced with any situation, saying only a part of the truth, and not the rest. This is disinformation…Disinformation is probably the greatest damage that the media can do, as opinion is guided in one direction, neglecting the other part of the truth. I believe that the media should…not fall prey – without offence, please – to the sickness of coprophilia, which is always wanting to communicate scandal…And since people have a tendency towards the sickness of coprophagia, it can do great harm.

Coprophilia is defined in the Merriam-Webster dictionary as “marked interest in excrement, especially the use of feces or filth for sexual excitement.” And coprophagia is eating feces by humans, literally, eating shit.

What people precisely, Holy Father, have a “tendency to towards the sickness of coprophagia”? Is this the dominant sickness of the human race? And if not, why do you make such a disgusting likeness between eating shit and citizens who read about politicians and their misdeeds or media that report on same? And who is to judge if factually true dissemination of facts about political figures from their past is relevant or not to help voters judge their character? I would say the comments are a perfect example of what he pretends to condemn.

Were it only a single, off-the-cuff remark by a religious figure, we could dismiss it along with claims such as the papal infallibility declaration proclaimed by the Vatican I on 18 July 1870. However, precisely because of such dogma and of the influence of the Roman Catholic Church and its Pope, notably in the countries of Western Europe, the United States and Latin America, such vague and dangerous remarks ought to be taken seriously as a signal of what lies ahead for the public freedom of speech.

“Fake News”

The papal comments on coprophagia and journalism come amid an explosion of charges in the USA and EU that Russia is planting “fake news” as it is now being called, about Hillary Clinton in the US media by way of certain alternative media. Robby Mook, Hillary Clinton’s former campaign manager, said “fake news” was “huge problem” the campaign faced in the recent US election: “I still think we have to investigate what happened with Russia here. We cannot have foreign, and I would say foreign aggressors here, intervening in our elections. The Russian were propagating fake news through Facebook and other outlets, but look, we also had…Breitbart News, which was notorious for peddling stories like this.”

Online stories that claimed a Washington D.C. pizza restaurant, Comet Ping Pong, was used by candidate Hillary Clinton and her campaign manager John Podesta for child sex, the so-called “Pizzagate” Scandal, is now being used to drum up popular opinion for censorship of the Internet as well as Facebook and other social media. Senior New York Times reporter David Sanger wrote a vague, anonymous “according to senior Administration sources,” article on December 9 under the headline, “Russia Hacked Republican Committee but Kept Data, US Concludes.” What we are seeing is precisely the kind of fake news that Hillary Clinton and the Pope talk about. But it is mainstream establishment media doing the fakery.

The fakery is being orchestrated by the highest levels of the mainstream media in collusion with NATO circles and intelligence agencies such as the CIA, which has saturated the ranks of mainstream media with their disinformation agents according to former CIA head William Colby, who once allegedly said, ““The CIA owns everyone of any significance in the major media.” The campaign will continue, likely with some horrendous stories about some psychopath taking a gun and bursting into Comet Ping Pong pizza place shooting innocent customers, because it was said he read in alternative media fake news about the pedophile ring. That already took place, but the man fired no shots. The population is being manipulated to accept extreme censorship of internet and other alternative media, something unimaginable just months ago.

Like clockwork, the “fake news” campaign has spread to the European Union. After announcing she will run again in 2017 for Chancellor, Angela Merkel spoke ominous words suggesting government censorship of independent “populist” (sic) media might be necessary: “Today we have fake sites, bots, trolls — things that regenerate themselves, reinforcing opinions with certain algorithms and we have to learn to deal with them.” She declared, “we must confront this phenomenon and if necessary, regulate it…Populism and political extremes are growing in Western democracies..” Her remarks came after Google and Facebook cut off ad revenue to what they declared to be “fake” news sites.

In the EU, especially Germany, populist has an implicit negative or even fascist connotation as in “right-wing populist” parties who oppose Merkel’s open door to war refugees policies, or who these days oppose almost anything her heavy-handed government puts forward.

War on Cash

Now if we begin to see stealth propaganda preparing us to accept severe clampdown on the one remaining free media, the Internet and related social media, we can also see an equally ominous, indeed, totalitarian move to create acceptance for the idea we give up the right to hold paper money, giving private, often corrupt, banks total control over our money, and in turn giving government agencies total control over where we spend for what.

This is the so-called cashless society. Arguments put forward are that elimination of cash will be more convenient to consumers or that it will eliminate or greatly reduce organized crime and shadow economy that evades taxation. In the EU, Sweden has already virtually eliminated cash. Sweden cash purchases today are down to just three per cent of the national economy compared to nine per cent in the Eurozone and seven per cent in the US. Public buses don’t accept cash. Three of Sweden’s four largest banks are phasing out the manual handling of cash in bank branches. Norway is following the same path.

In France today, it’s now illegal to do cash transactions over €1,000 without documenting it properly. France’s finance minister Michel Sapin, in the wake of the Charlie Hebdo attacks, blamed the attacks on the ability of the attackers to “buy dangerous things with cash.” Shortly after the Hebdo attacks he announced capital controls that included the €1,000 cap on cash payments, down from €3,000, to “fight against the use of cash and anonymity in the French economy.” In high-inflation Eurozone €1,000 is not a huge sum.

Even in conservative Germany, a leading member of the Merkel coalition proposed to eliminate the €500 note and capping all cash transactions at €5,000. Some weeks later the European Central Bank, where negative interest rates are the order of the day, announced it would end issue of €500 notes by December 2018 arguing it made it too easy for criminals and terrorists to act.

And in the United States, as the campaign to sell skeptical citizens on cashless digital bank payments increases, JP Morgan Chase, the largest and one of the most criminal banks in the US, has a policy restricting the use of cash in selected markets. The bank bans cash payments for credit cards, mortgages, and auto loans; and it prohibits storage of “any cash or coins” in safe deposit boxes. So if you have a rare cold coin collection, you better stuff it in the mattress…

Negative Rates and Cashless Citizens

As long as cash–bills and coins of a national currency–are the basis of the economy, the central banks of the USA and EU as well as Japan, are unable to impose a severe negative interest rate policy much beyond the flirtation today by the ECB and Bank of Japan. If central bank rates were to go very negative, banks would be charging customers the absurd charge to make them pay to keep their cash on deposit or in savings at those banks. Naturally, people would revolt and withdraw in cash to invest in gold or other hard, tangible valuables.

Harvard economist and member of the Economic Advisory Panel of the Federal Reserve, Kenneth Rogoff, an advocate of the “war on cash,” noted that the existence of cash “creates the artifact of the zero bound on the nominal interest rate.” In his 2016 book, The Curse of Cash, Rogoff urged the Federal Reserve to phase out the 100-dollar bill, then the 50-dollar bill, then the 20-dollar bill, leaving only smaller denominations in circulation, much like what the mad Modi has just done in India.

Any serious observer of the world economy, especially of NATO nations in Europe and North America since the financial crisis of September 2008, would have to realize the current status quo of zero or negative central bank interest rates to prop up banks and financial markets is not sustainable. Unless cash is eliminated that is.

On April 5, 1933 President Franklin D. Roosevelt signed Executive Order 6102, “forbidding the Hoarding of gold coin, gold bullion, and gold certificates within the continental United States.” That was rightly denounced by many as outright theft, confiscation of privately held gold, by the Government.

Radical solutions such as done by President Roosevelt in 1933, yet in a monetary order where gold no longer dominates, is clearly becoming more attractive to the major bankers of Wall Street and the City of London. Rather than confiscate citizens’ gold, today the Gods of Money would have to find a way to steal the cash of citizens. Moving to their “cashless” banking, limiting how much cash can be withdrawn and then eliminating cash entirely as Swedish banks are doing would enable tax authorities to have perfect totalitarian control on every citizen’s use of money. Moreover, governments could decree, as did FDR, that cash above certain levels must be taxed under some or another national declaration of emergency.

As such bold, radical moves advance, they would of course be vociferously attacked not on CNN or The New York Times or Financial Times or other mainstream media tied to those criminal financial institutions, but in alternative media. Keep in mind it was the uncritical New York Times and Washington Post that uncritically retailed the fake news that led to declaration of war on Iraq in 2003, namely that Saddam Hussein had weapons of mass destruction aimed at Washington. That war has spread death and destruction of a scale unimaginable. No one complained at the time about that fake news.

The protest over moves to confiscate citizens’ bank holdings would come through alternate, independent media such as Zero Hedge or countless others. Recently, US media uncritically republished a purported list of “fake news” blogs and websites prepared by Assistant Professor of Communications at Merrimack College, Melissa Zimdars. Zero Hedge was on it.

This is not about endorsing or not endorsing any alternative blog or website. It is about the essential freedom of us all to be able to read and decide any and all opinions or analyses and not to have government decide what I am or am not allowed to read. It’s about the freedom to keep privacy about what I choose to buy and not leave a digital trail that my bank could release to the tax authorities or to Homeland Security or the FBI, or sell to profiling consumer operations. Controlling public communication and controlling private money would go a long way to creation of the perfect totalitarian state. Not a good idea, I would say.

Read More At: WilliamEngdahl.com
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F. William Engdahl is strategic risk consultant and lecturer, he holds a degree in politics from Princeton University and is a best-selling author on oil and geopolitics, exclusively for the online magazine “New Eastern Outlook”