September 30, 2008
A video bio of Independent candidate Ralph Nader, one of the greatest public citizens in America’s history.
The time has come for an Independent President of the United States…
Video Footage:
“An Unreasonable Man”
“Democracy Now (1/31/08)”
“Who Killed the Electric Car”
“Sicko”Music:
“Lazy Moon” by Groove Armada
Day: October 11, 2008
Nader/Gonzalez – Radio Ads: Now or Never + NPR Interview
Call to Action!
We need your help to raise $80,000 to reach our radio ad goal of $250,000 by Sunday midnight.
To hear the demo of the radio ad, go you votenader.org and click at the link at the top.
Who is Behind the Financial Meltdown? by Michel Chossudovsky
by Michel Chossudovsky
Global Research, October 11, 2008
Market Manipulation and the Institutional Speculator
The market is heavily manipulated. The driving force behind the meltdown is speculative trade. The system of “private regulation” serves the interests of the speculators.
While most individual investors loose when the market falls, the institutional speculator makes money when there is a financial collapse.
In fact, triggering market collapse can be a very profitable undertaking.
There are indications that the Security Exchange Commission (SEC) regulators have created an environment which supports speculative transactions.
There are several instruments including futures, options, index funds, derivative securities, etc. used to make money when the stock market crumbles.
The more it falls, the greater the gains.
Those who make it fall are also speculating on its decline.
With foreknowledge and inside information, a collapse in market values constitutes a lucrative and money-spinning opportunity, for a select category of powerful speculators who have the ability to manipulate the market in the appropriate direction at the appropriate time.
Short Selling
One important instrument used by speculators to make money out of a financial meltdown is “short selling”.
“Short selling” consists in selling large amounts of stocks which you do not possess and then buying them in the spot market once the price has collapsed, with a view to completing the transaction and cashing in on the profits.
The role of short selling in bringing down companies is well documented. The collapse of Lehman, Merrill Lynch and Bear Stearns was in part due to short selling.
Short selling has also been used extensively in currency markets. It was one of the main instruments used by speculators during the 1997 Asian Crisis to bring down the Thai baht, the Korean won and Indonesian rupiah.
Speculation in major currency markets also characterizes the ongoing financial crisis. There have been major swings in currency values with the Canadian dollar, for instance, loosing 10% of its value in the course of a few trading days.
Temporary Ban on Short Selling
Following the stock market meltdown on Black Monday September 15, the Security Exchange Commission (SEC) introduced a temporary ban on short selling. In a bitter irony, the SEC listed a number of companies which were “protected by regulators from short sellers”. The SEC September 18 ban on short selling pertained largely to banks, insurance companies and other financial services companies.
The effect of being on a “protected list” was to no avail. It was tantamount to putting those listed companies on a “hit list”. If the SEC had implemented a complete and permanent ban on short selling coupled with a freeze on all forms of speculative trade, including index funds and options, this would have contributed to reducing market volatility and dampening the meltdown.
The ban on short selling was applied with a view to establishing the protected list. It expired on Wednesday October 8 at midnight.
The following morning, Thursday 9th of October, when the market opened up, those companies on the “protected list” became “unprotected” and were the first target of the speculative onslaught, leading to a dramatic collapse on of the Dow Jones on Thursday 9th and Friday 10th.
The course of events was entirely predictable. The lifting of the ban on short selling contributed to accentuating the downfall in stock market values. The companies which were on the hit list were the first victims of the speculative onslaught.
The shares of Morgan Stanley dropped 26 percent on October 9th, upon the expiry of the short-selling ban and a further 25 percent the following day.
Financial warfare
There are indications that the downfall of Morgan Stanley was engineered by financial rivals. A day prior to the September 18th ban on short selling, Morgan Stanley was the object of rival speculative attacks:
John Mack, chief executive of Morgan Stanley, told employees in an internal memo Wednesday [September 17]: “What’s happening out there? It’s very clear to me – we’re in the midst of a market controlled by fear and rumours, and short sellers are driving our stock down.”’ (Financial Times, September 17, 2008)
Morgan Stanley was also the object of doubts expressed by the ratings agency Moody’s, which contributed to investors dumping Morgan Stanley stock.
Moody’s cited an expectation that “an expected downturn in global capital market activity will reduce Morgan Stanley’s revenue and profit potential in 2009, and perhaps beyond this period”.
In contrast JP Morgan Chase, controlled by the Rockefeller family climbed by almost 12%. JP Morgan Chase and Bank America have consolidated their control over the US banking landscape.
Regulators Serve the Interests of Speculators
The SEC was fully aware that the ban on short selling would serve to exacerbate the downfall.
Why did they carry it out? How did they justify their decision?
In a twisted logic, the SEC, which largely serves the interests of institutional speculators, contends, quoting the results of an academic research paper, that short selling contributes to reducing market instability and it was therefore necessary to repeal the September 18 ban.
© Copyright Michel Chossudovsky, Global Research, 2008
The url address of this article is: www.globalresearch.ca/index.php?context=va&aid=10529
see
Jim Rogers: Nobody has any confidence in this clowns
Kucinich: If it’s just about the banks and not about the homeowners, forget about it!
Jim Rogers: They are unleashing an inflationary holocaust
Protest at the Bank of England: No Bail Out for the Bosses
The Big Question By Jayson R. Jones
Exclusive: The Big Grab, Part I by The Other Katherine Harris
Militarizing the “Homeland”: NORTHCOM’s Joint Task Force-Civil Support by Tom Burghardt
by Tom Burghardt
Global Research, October 11, 2008
Antifascist Calling…
Antifascist Calling reported October 6 that nine months prior to the 9/11 terrorist attacks, Donald Rumsfeld signed off on revisions for the Pentagon’s secretive Continuity of Operations Program (COOP).
Based on a document (AR 500-3) published by the whistleblowing website Wikileaks, it described “all hazards COOP planning” as the mechanism by which “the Army remains capable of continuing mission-essential operations during any situation, including military attack, terrorist activities, and natural or man-made disasters.” Continue reading
Frost over the World – Zbigniew Brzezinski
One of the most respected figures in the field of US foreign policy explains why he is supporting Barack Obama, the Democratic candidate, in the upcoming presidential elections.
Mosaic News – 10/10/08: World News from the Middle East
Warning
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This video may contain images depicting the reality and horror of war/violence and should only be viewed by a mature audience.
Mosaic needs your help! Donate here: http://linktv.org/contribute
“Ethnic Clashes in Israel,” Al Jazeera TV, Qatar
“No Room for Failure for Hamas and Fateh,” Abu Dhabi TV, UAE
“Who Controls Ein el Hilweh?,” New TV, Lebanon
“Who Invented Tabouleh?,” Future TV, Lebanon
“US Financial Crash affects Jordanian Economy,” Jordan TV, Jordan
“Al Sahwa Faces an Uncertain Future in Iraq,” Al Arabiya TV, UAE
“Losing Ground to the Taliban,” Al Jazeera English, Qatar
“Meltdown in the Desert,” Link TV, USA
Produced for Link TV by Jamal Dajani
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Noam Chomsky: The United States Has Essentially a One-Party System
SPIEGEL ONLINE
10/10/2008
The linguist and public intellectual Noam Chomsky has long been a critic of American consumerism and imperialism. SPIEGEL spoke to him about the current crisis of capitalism, Barack Obama’s rhetoric and the compliance of the intellectual class.
SPIEGEL: Professor Chomsky, cathedrals of capitalism have collapsed, the conservative government is spending its final weeks in office with nationalization plans. How does that make you feel?
Chomsky: The times are too difficult and the crisis too severe to indulge in schadenfreude. Looking at it in perspective, the fact that there would be a financial crisis was perfectly predictable, its general nature, if not its magnitude. Markets are always inefficient.
SPIEGEL: What exactly did you anticipate?
Chomsky: In the financial industry, as in other industries, there are risks that are left out of the calculation. If you sell me a car, we have perhaps made a good bargain for ourselves. But there are effects of this transaction on others, which we do not take into account. There is more pollution, the price of gas goes up, there is more congestion. Those are the external costs of our transaction. In the case of financial institutions, they are huge.
[…]
SPIEGEL: So for you, Republicans and Democrats represent just slight variations of the same political platform?
Chomsky: Of course there are differences, but they are not fundamental. Nobody should have any illusions. The United States has essentially a one-party system and the ruling party is the business party.
SPIEGEL: You exaggerate. In almost all vital questions — from the taxation of the rich to nuclear energy — there are different positions. At least on the issues of war and peace, the parties differ considerably. The Republicans want to fight in Iraq until victory, even if that takes a 100 years, according to McCain. The Democrats demand a withdrawal plan.
Chomsky: Let us look at the “differences” more closely, and we recognize how limited and cynical they are. The hawks say, if we continue we can win. The doves say, it is costing us too much. But try to find an American politician who says frankly that this aggression is a crime: the issue is not whether we win or not, whether it is expensive or not. Remember the Russian invasion of Afghanistan? Did we have a debate whether the Russians can win the war or whether it is too expensive? This may have been the debate at the Kremlin, or in Pravda. But this is the kind of debate you would expect in a totalitarian society. If General Petraeus could achieve in Iraq what Putin achieved in Chechnya, he would be crowned king. The key question here is whether we apply the same standards to ourselves that we apply to others.
[…]
h/t: Daniel
FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
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Chomsky: If I were in a swing state, I’d vote for Obama follow-up questions to this interview by Peter Jaworski (Western Standard)
Greg Palast on Vote Rigging and Suppression + Is 2008 already fixed?
Divide and Conquer by Bruce Gagnon (+ video)
Jim Rogers: Nobody has any confidence in this clowns
Jim Rogers said on Bloomberg on 2008.10.10 that the reason the market is collapsing is because nobody has any confidence in clowns [government officials] and whatever they come up with just means bigger inflation in next 6 months or year from now.
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Jim Rogers: Central bankers know only how to print money
Jim Rogers on Bloomberg on 2008.10.10 said that central bankers will probably cut interest rates in future, because it’s their only solution for any problem
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Kucinich: If it’s just about the banks and not about the homeowners, forget about it!
Jim Rogers: They are unleashing an inflationary holocaust
Protest at the Bank of England: No Bail Out for the Bosses
The Big Question By Jayson R. Jones
Exclusive: The Big Grab, Part I by The Other Katherine Harris
Kucinich: If it’s just about the banks and not about the homeowners, forget about it!
Debate heats up on bailout plan
Congressman Dennis Kucinich discusses the federal bailout plan, the struggling economy, and the plight of homeowners with millionaire businessman Steve Forbes and with Fox News financial analysts.
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Order Your Free Pocket Constitution and Declaration of Independence
h/t: jen. is v..
see
Protest at the Bank of England: No Bail Out for the Bosses
The Big Question By Jayson R. Jones
Exclusive: The Big Grab, Part I by The Other Katherine Harris
Protest at the Bank of England: No Bail Out for the Bosses
http://www.socialistworker.co.uk
Hundreds of protestors attempted to storm the Bank of England and Royal Exchange before marching round the City and bring traffic to a halt.
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h/t: Me
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The Big Question By Jayson R. Jones
Exclusive: The Big Grab, Part I by The Other Katherine Harris
The Big Question By Jayson R. Jones
Sent to me by Jason Miller from Thomas Paine’s Corner. Thanks, Jason.
By Jayson R. Jones
10/10/08
Hello, All Boats here once again. Are we having fun yet? Don’t worry, things are going to get much more ‘interesting’ next year (unless the glue melts faster than I anticipate). No, I’m not going to write on the failure of the Credit Card Industry, nor about the Trillions in Debt, nor about the repayment of China, Japan and Saudi investment in T Bills that are coming due. No, you all are smart enough, educated enough, and aware enough to know all that.
I’m here today to ask a simple question. A question that should be uppermost in your mind as thinking people. A question that is largely going unasked. A pivotal question. What will we do next?
Remember the old adage that if you only have a hammer to work with, every problem becomes a nail? Revolution should consist of more than just replacing the names on the door, more than patching and ‘fixing’ a failed system, more than sprucing up the road we are traveling. George Santayana’s oft used (and oft miss-applied) statement that ‘Those who can not remember the past are condemned to repeat it’ (Life of Reason, vol 1, 1905). We can ‘remember’ the past through reading history, but are we learning from it?
A quick review is in order at this point. The concept of ‘money’ is only 8,000 years old. Capitalism is only (arguably) 268 years old. Vampire Capitalism (our current evolutionary form of the Capitalism) is less than 100 years old. Americans have tried three times to control Capitalism and utterly failed in the long term. All of you should be familiar (to one degree or another) with the situation we face now. This is the situation Capitalism has brought us to, and it will get worse next time if we do not do some Revolutionary thinking.
The discovery of radiation led to the making of the atomic bomb; then the proliferation of atomic bombs to other countries; and our current idiotic policies on who can and can not have them. The history of Capitalism shows it is even more detrimental to life as we know it than the atomic bomb. At least no one (except the U.S.) has actually used the atomic bomb. We have used Capitalism to enrich the few (2% in the U.S., less in other Industrialized Nations), and impoverish and enslave the rest. Not only that, Capitalism has destroyed much of the planet’s ecosystem, and almost eradicated our innate ability live and think cooperatively.
How much longer are we going to continue to allow 2 % of our population to siphon off X % of everything? How much longer are we going to allow the unfettered ravishing of this planet to enrich those at the very top? What are we, as the general population, gaining from this?
In 1776 Americans stood up to the East India Tea Company, and the investors who caused onerous laws to be passed protecting their investment. They revolted against their masters, and freed themselves from the tyranny of, what was effectively, Corporate Governance through the vehicle of the English parliament, and enforced by the English military. Today we have a multi-headed version of the East India Tea Company, a more subtle (yet more controlling) governance protecting their personal investments, and the threat of Military enforcement should things get out of hand. The fundamentals are all there, if you dare to look.
Do we revolt once again, and institute yet another failed version of Capitalism? Do we allow the already wealthy to abscond with the Jewels of the Kingdom once again? Ask yourself who should own and control the natural resources of this country (or any country). The truth today is that Corporate America owns or controls all of the natural resources in this country, with no benefit ‘trickling down’ to the majority of people. The illusion of prosperity some enjoy in this country is granted them by the Corporate Governing power through the artifice of “Credit”. Those few do not actually own anything, they pay a royalty each month to use what they have, and if they miss a payment they are out on the street with nothing to show for all their hard work and diligent playing of the game. Even those who actually own everything they have are but one illness, one law suit, one ‘Eminent Domain’ claim from losing it. What we have is merely an illusion as long as the game is being played; whether or not you are actually in the game.
I strongly suggest we take a look at this whole monetary concept and use our knowledge to judge its efficacy in the long term. I propose we no longer need (actually, we never needed) a monetary concept at all. Before our resources are wasted, before our innate cooperativeness is truly lost, we should stop this self-destructive game and institute a new way of looking at the world around us and our place in it. We have the resources (both natural and knowledge-based) to provide a better life for all people in this country, not just those who are good at the game. Why shouldn’t all the people benefit from the resources we have, not just those who ‘can afford it’?
see
Exclusive: The Big Grab, Part I by The Other Katherine Harris
How to Save the U.S. Economy by Richard C. Cook
The Economy Sucks and or Collapse
What is Socialism? (archive of posts)
Bill Moyers Journal: George Soros + Going Negative + Iraq War Vote
Bill Moyers Journal
Oct 10, 2008
George Soros
Bill Moyers talks with one of the world’s most successful investors George Soros about the global capital meltdown, how he saw it coming, and what can be done now.
Going Negative, Campaign 2008
Bill Moyers checks in with JOURNAL contributor and director of the Annenberg Public Policy Center Kathleen Hall Jamieson on how dirty politics will play out in this final stretch to the election.
Web Exclusive: Bill Moyers on the Iraq War Vote
In this web exclusive essay, on the sixth anniversary of the congressional vote to grant President George W. Bush the power to invade Iraq, Bill Moyers looks back to October 2002 and the Senate debate over the rush to war.
FAIR USE NOTICE: This blog may contain copyrighted material. Such material is made available for educational purposes, to advance understanding of human rights, democracy, scientific, moral, ethical, and social justice issues, etc. This constitutes a ‘fair use’ of any such copyrighted material as provided for in Title 17 U.S.C. section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.
see
Exclusive: The Big Grab, Part I by The Other Katherine Harris
How to Save the U.S. Economy by Richard C. Cook
Daily Show: Clusterf#@k to the Poor House – Financial Crisis Cartoons
The Daily Show
http://thedailyshow.cc.com/videos/bs7krq/clusterf–k-to-the-poor-house—financial-crisis-cartoons
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Fox News Panics Continue reading
Obama Girl Calls Barack With Ralph Nader!
The year’s biggest political Odd Couple are back — and with Barack Obama this time!
BarelyPolitical: http://www.BarelyPolitical.com
Ralph Nader: http://www.VoteNader.org
Register to vote: http://www.VoteForChange.com
The Shadow Factory! From 9/11 to Eavesdropping on America
http://cspanjunkie.org/
October 10, 2008 MSNBC Rachel Maddow Show
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Dandelion Salad 