"This is like deja vu all over again."
~~ Yogi Berra.

Depression to follow massive contraction of the money supply?

Greenspan: Higher inflation to warrant double-digit rates in future
Former Fed Chairman Warns U.S. Will Have to Raise Interest Rates Due to Global Shift

http://abcnews.go.com/Business/story?id=3606059&page=1

Hillary suggests that "once we get through this immediate crisis," the country should look at some Great Depression-era type of governmental entity to deal with it.

http://wcbstv.com/politics/hillary.clinton.barack.2.823496.html

Anyone surprised by this? I hope not.

Candidates likely to skip bailout vote
By VICTORIA MCGRANE | 9/22/08 3:39 PM EDT
Politico.com

Congress is poised to vote on the biggest government intervention in the financial markets since the Great Depression, but it’s unlikely that any of the three senators vying for the White House will be there – even though all three have talked of little else for over a week.

Federal Reserve leads bloodless economic assault, effectively suspending constitution.

Average Americans become slave to trillions of dollars of Wall Street Debt

By Joan Veon
The Women's International Group, Inc.
9-22-8

World history is spotted with stories of political conquests: Attila the Hun, Genghis Khan, the Pharaohs, Alexander the Great, and Roman Caesars, each who seized physical control of a country, its economy and assets. History holds no story of a take over based solely on a country's assets, until now. The modern day Attila's, Genghis Khan's, Pharaoh's, and Caesar's are the men who own and control the Central Banks of the world. America's Central Bank is the Federal Reserve, which controls our monetary system, is not part of our governmental system, and, although its name would imply, it has no reserves.

The 13th month of America's credit crisis may hold its own in history as a country whose economic power and bulk of wealth overnight become the assets of the Federal Reserve. This may well be the finest coup d'état.

by Ron Paul

On September 10, 2002 I asked 35 questions regarding war with Iraq. The war resolution passed on October 16, 2002. Now today, as some of my colleagues try to reestablish credentials regarding spending restraint, I want to call attention to my 18th question from six years ago:

“Are we willing to bear the economic burden of a 100 billion dollar war against Iraq, with oil prices expected to skyrocket and further rattle an already shaky American economy? How about an estimated 30 year occupation of Iraq that some have deemed necessary to "build democracy" there?”

Many scoffed at my “radical” predictions at the time, regarding them as hyperbole. Six years later, I am forced to admit that I was wrong.
(continued)

http://www.wakeupfromyourslumber.com/node/8229

How much of the 700 BILLION dollar slush fund given to the Treasury Department will wind up in Tel Aviv?

A slush fund that starts at 700 BILLION, and there's NO LIMIT.

Maybe this is the "Clean Break: Securing the Realm" scenario talked about where Israel gets some type of outside money to permanently prop up that racist and apartheid, Jews only state.

A document written by some of the same thugs that lied the US into the Iraq War.

Thugs like David Wurmser, Doug Feith and Richard Perle.

The Clean Break document here, says that "...[financial] self-reliance will grant Israel greater freedom of action and remove a significant lever of pressure used against it in the past."

In other words, if Israel was able to secure a line of financing independent of the US Congress, where occasionally, embarrassing questions about Israel's brutal ethnic cleansing campaign against the Palestinians and the Lebanese get asked, then with that independent financing, Israel could murder and steal to it's hearts content.

Congress is being asked and told to hurry, hurry, hurry, push this thru NOW, don't ask any questions, especially about the part that will give US money to foreign interests, as shown here

Why?

Bailout Fallout: Stocks Tumble, Oil Soars as Dollar Dives
Posted Sep 22, 2008 04:36pm EDT by Aaron Task in Investing, Information Technology, Commodities, Banking
Related: ^DJI, ^GSPC, GLD, BAC, WB, MSFT, XLF

If Thursday afternoon and Friday represent the best-case scenario of the government's unprecedented intervention in financial markets -- stocks rallied, credit markets stabilized and a measure of confidence was restored - Monday was the worst-case scenario.

mmm.... Since matter is cannot be created nor destroyed. How do you run out of electrons?

The Fed’s run out of money

FT Alphaville » Blog Archive
Sep 17

Seriously. It’s broke. Here’s the statement from the US Treasury:

Mon, 22 Sep 2008 13:24:44
Press TV 2007

The Sunday Times has revealed that an Israeli factory beneath the Negev desert is manufacturing thermo-nuclear weapons for atomic bombs.

The secrets of the subterranean factory have been uncovered by The Sunday Times Insight team.

Hidden beneath the Negev desert, the factory has been producing atomic warheads for the past 20 years. Now it has almost certainly begun manufacturing thermo-nuclear weapons, with yields big enough to destroy entire cities, the report says.

Information about Israel's capacity to manufacture the bomb comes from the testimony of a former Dimona employee, nuclear technician Mordechai Vanunu.

Bush says financial negotiators made "good headway"
Mon Sep 22, 2008 10:07am EDT

WASHINGTON (Reuters) - President George W. Bush on Monday said negotiators were making "good headway" on legislation to provide an unprecedented $700 billion bailout of financial markets and that he was confident a measure to prevent lasting damage to the economy could be enacted.

"Failure to act would have broad consequences far beyond Wall Street. It would threaten small business owners and homeowners on Main Street," Bush said in a statement.

Spies Warn That Al Qaeda Aims for October Surprise
Intercepted Messages Asking Local Cells To Be Prepared for Imminent Instructions
By ELI LAKE, Staff Reporter of the Sun | September 22, 2008

WASHINGTON — In the aftermath of two major terrorist attacks on Western targets, America's counterterrorism community is warning that Al Qaeda may launch more overseas operations to influence the presidential elections in November.

Remarks by Governor Ben S. Bernanke
At the Conference to Honor Milton Friedman, University of Chicago, Chicago, Illinois
November 8, 2002
http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021108/default.h...

On Milton Friedman's Ninetieth Birthday

Final words of Bernanke's speech:

"Let me end my talk by abusing slightly my status as an official representative of the Federal Reserve. I would like to say to Milton and Anna: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."

complete text after the jump

"If you think the cost of this bill is $700 billion, you're wrong. The cost is actually infinite and the entire bill constitutes a giant money-laundering scheme.

My advice: Don't be caught with any stock or debt instruments linked to a United States financial firm in your portfolio past 9:30 AM Monday morning.

The Mother Of All Frauds

market-ticker.denninger.net

Israel's Olmert formally resigns

Submitted by dicktater on Mon, 2008-09-22 02:54.

09/21/2008 @ 2:51 pm
Filed by Agence France-Presse

Raw Story

JERUSALEM — Israel's scandal-tainted Prime Minister Ehud Olmert resigned on Sunday, local television reported, setting the stage for more weeks of political turmoil as the horse-trading begins to form a new government.

Olmert submitted his resignation to President Shimon Peres, who now has a week to designate the party leader who will form the next government, the television said.

Foreign Minister Tzipi Livni [a former Mossad agent], who replaced Olmert as head of the centrist Kadima party in a leadership vote on Wednesday, is hoping to become only the second woman prime minister in the nation's history.

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I don't care what Hank calls it. It's still a coup d’état.

Submitted by dicktater on Mon, 2008-09-22 02:17.

They're just wearing Armani suits rather than fatigues and berets.

wikipedia:

...the sudden overthrow of a government by a part of the state establishment — usually the military — to replace the branch of the stricken government, either with another civil government or with a military government.

The coup d’état succeeds if its opponents fail to thwart the usurpers, allowing them to consolidate their positions, obtain the surrender of the overthrown government or acquiescence of the populace and the surviving armed forces, and thus claim legitimacy. Coups d’état typically use the power of the existing government for the takeover. As Edward Luttwak remarks in Coup d'État: A Practical Handbook: A coup consists of the infiltration of a small, but critical, segment of the state apparatus, which is then used to displace the government from its control of the remainder. In this sense, the use of either military or another organized force is not the defining feature of a coup d'état.

Treasury Seeks Unchecked, Unreviewable, Dictatorial Power

" The Bush administration seeks ``dictatorial power unreviewable by the third branch of government, the courts, to try to resolve the crisis,'' said Frank Razzano, a former assistant chief trial attorney at the Securities and Exchange Commission now at Pepper Hamilton LLP in Washington. ``We are taking a huge leap of faith.'' "

Treasury Seeks Asset-Buying Power Unchecked by Courts
Bloomberg
(Update2)

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Paulson Bailout Plan a Historic Swindle

Submitted by dicktater on Sun, 2008-09-21 23:37.

Not a bailout. A mass raping by design.

Paulson Bailout Plan a Historic Swindle
By William Greider
September 19, 2008
http://www.thenation.com/doc/20081006/greider

Financial-market wise guys, who had been seized with fear, are suddenly drunk with hope. They are rallying explosively because they think they have successfully stampeded Washington into accepting the Wall Street Journal solution to the crisis: dump it all on the taxpayers. That is the meaning of the massive bailout Treasury Secretary Henry Paulson has shopped around Congress. It would relieve the major banks and investment firms of their mountainous rotten assets and make the public swallow their losses--many hundreds of billions, maybe much more. What's not to like if you are a financial titan threatened with extinction?

If Wall Street gets away with this, it will represent an historic swindle of the American public--all sugar for the villains, lasting pain and damage for the victims. My advice to Washington politicians: Stop, take a deep breath and examine what you are being told to do by so-called "responsible opinion." If this deal succeeds, I predict it will become a transforming event in American politics--exposing the deep deformities in our democracy and launching a tidal wave of righteous anger and popular rebellion. As I have been saying for several months, this crisis has the potential to bring down one or both political parties, take your choice.

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