Economy

Big Sis: Obama Ready to Sign Surveillance Grid Executive Order

By Kurt Nimmo (Infowars.com)

Homeland Security boss Janet Napolitano told a Senate Homeland Security and Governmental Affairs Committee hearing on Wednesday that a blatantly unconstitutional Obama administration executive order is “still being drafted in the inter-agency process” and “is close to completion depending on a few issues that need to be resolved at the highest levels.”

Obama will implement crucial element of the surveillance state by executive fiat.
The latest Obama EO – he has issued 135 thus far – is a response to the failure of a cybersecurity bill to pass in the Senate. The Lieberman-Collins Cyber-security bill failed 52-46. Following the vote, Obama’s press secretary, Jay Carney, said “the President is determined to do absolutely everything we can to better protect our nation against today’s cyber threats and we will do that” despite the will of the American people.

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The US-Iran Economic War: Worldwide Depression. Skyrocketting Oil Prices?

www.globalresearch.ca
Here’s a crash course on how to further wreck the global economy.

A key amendment to the National Defense Authorization Act signed by United States President Barack Obama on the last day of 2011 – when no one was paying attention – imposes sanctions on any countries or companies that buy Iranian oil and pay for it through Iran’s central bank. Starting this summer, anybody who does it is prevented from doing business with the US.

This amendment – for all practical purposes a declaration of economic war – was brought to you by the American Israel Public Affairs Committee (AIPAC), on direct orders of the Israeli government under Prime Minister Benjamin “Bibi” Netanyahu.

Torrents of spin have tried to rationalize it as the Obama administration’s plan B as opposed to letting the Israeli dogs of war conduct an unilateral attack on Iran over its supposed nuclear weapons program.

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The Fed’s European “Rescue”: Another back-door US Bank / Goldman bailout?

infowars.com
In the wake of chopping its Central Bank swap rates today, the Fed has been called a bunch of names: a hero for slugging the big bailout bat in the ninth inning, and a villain for printing money to help Europe at the expense of the US. Neither depiction is right.

The Fed is merely continuing its unfettered brand of bailout-economics, promoted with heightened intensity recently by President Obama and Treasury Secretary, Tim Geithner in the wake of Germany not playing bailout-ball. Recall, a couple years ago, it was a uniquely American brand of BIG bailouts that the Fed adopted in creating $7.7 trillion of bank subsidies that ran the gamut from back-door AIG bailouts (some of which went to US / some to European banks that deal with those same US banks), to the purchasing of mortgage-backed–securities, to near zero-rate loans (for banks).

Similarly, today’s move was also about protecting US banks from losses – self inflicted by dangerous derivatives-chain trades, again with each other, and with European banks.

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Behold The New Anschluss: ECB’s Paramo – “Prepare To Give Up Significant Sovereignty”

www.zerohedge.com
The only quote worth noting from the just delivered speech by ECB executive board member José Manuel González-Páramo is the following: “We cannot completely delegate governance to financial markets. The euro area is the world’s second largest monetary area. It cannot depend solely on the opinions of ratings agencies and markets. It needs economic governance arrangements that are preventive and linear. This underscores my central point that a much more comprehensive approach to economic governance is now the priority for the euro area. And this means more economic and financial integration for the euro area, with a significant transfer of sovereignty to the EMU level over fiscal, structural and financial policies.”

In other words, in order to protect people from the “stupidity” of rating agencies which after years of lying have finally started telling the truth, and the market which does what it always does, and punishes those who fail, Europe must be prepared to give up “significant sovereignty” (sounds better than Anschluss) to Europe’s “betters” which is another way of saying ‘he who pays the piper calls the tune.” And “he” in this case is, of course, Germany. In other words, courtesy of one failed monetary experiment Germany will succeed, without sheeding one drop of blood, where it failed rather historically some 70 years ago.

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The Roads To War And Economic Collapse

infowars.com
November 23, 2011: The day before the Thanksgiving holiday brought three extraordinary news items. One was the report on the Republican presidential campaign debate. One was the Russian President’s statement about his country’s response to Washington’s missile bases surrounding his country. And one was the failure of a German government bond auction.

As the presstitute media will not inform us of what any of this means, let me try.

With the exception of Ron Paul, the only candidate in either party qualified to be the president of the US, the rest of the Republican candidates are even worse than Obama, a president who had the country behind him but sold out the American people to special interests.

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Iran parliament to question Ahmadinejad over fraud

The Associated Press
TEHRAN, Iran (AP) — Iran’s parliament is set to summon President Mahmoud Ahmadinejad for questioning over an economic scandal and his polices after the required number of lawmakers signed a petition Sunday, the latest salvo in a long battle between the president and his rivals.

Ahmadinejad would be the first president to be hauled before the Iranian parliament, a serious blow to his standing in a the conflict involving the president, lawmakers and Iran’s powerful clerics.

At least 73 lawmakers signed the petition to question Ahmadinejad, just above one-quarter of the 290 members required by Iran’s constitution to call in a president.

Earlier the parliament found Ahmadinejad’s economics minister guilty in relation to a $2.6 billion fraud case, considered the largest in Iran’s history.

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Vatican calls for global authority on economy, raps “idolatry of the market”

Reuters
The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises. The document from the Vatican’s Justice and Peace department should please the “Occupy Wall Street” demonstrators and similar movements around the world who have protested against the economic downturn.

“Towards Reforming the International Financial and Monetary Systems in the Context of a Global Public Authority,” was at times very specific, calling, for example, for taxation measures on financial transactions. “The economic and financial crisis which the world is going through calls everyone, individuals and peoples, to examine in depth the principles and the cultural and moral values at the basis of social coexistence,” it said. (more…)

New euro ‘empire’ plot by Brussels

telegraph.co.uk
European Union chiefs are drawing up plans for a single “Treasury” to oversee tax and spending across the 17 eurozone nations.

The proposal, put forward by Herman Van Rompuy, the European Council president, would be the clearest sign yet of a new “United States of Europe” — with Britain left on the sidelines.

The plan comes as European governments desperately trying to save the euro from collapse last night faced a new bombshell, with sources at the International Monetary Fund saying it would not pay for a second Greek bail-out.

It was also disclosed last night that British businesses are turning their back on Brussels regulations to give temporary workers full employment rights, with supermarket chain Tesco leading the charge. (more…)

Without a growth plan, the EU faces financial Waterloo

The latest eurozone rescue scheme may save Greece for now, but it fails on a basic rule of classical economics
Without a growth plan, the EU faces financial Waterloo | Simon Jenkins | The Guardian

(Guardian) This really matters. It matters more than party conferences or Libyan wars or terrorist scares or Olympic games. Europe faces a Waterloo moment, perhaps even a Munich one, as 17 of its finance ministers dither over whether to rescue its economy from the financial wreckage of the past three years, or let it plunge into renewed depression.

A bad-tempered weekend at the IMF in Washington has reportedly led to a ghost of a plan that makes sense. It involves halving Greece’s debts to German and French banks, repeating the 21% “haircut” default of last July. This in turn will hurt the banks more than they might stand, so the second part of the plan props them with urgent subsidies. In a third part, some 2 trillion euros would be tipped into the European central bank, somehow to “firewall” the sovereign debts of Portugal and Ireland and perhaps even Italy and Spain. (more…)

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