by Dr. Ellen Hodgson Brown
Nov 30, 2008
What Hank and Ben Are Up to and How They Plan to Pay for It All
“We make money the old fashioned way. We print it.” – Art Rolnick, Chief Economist for the Minneapolis Federal Reserve Bank
The $700 billion that was arm-twisted from Congress by Treasury Secretary Hank Paulson in October was evidently just the camel’s nose under the tent. According to a November 24 Bloomberg report, the Paulson/Bernanke team is now prepared to pay $7.76 trillion to rescue the financial system. Prepared to pay how? Congress has not raised its debt ceiling to anywhere near that level; but the approval of Congress, which originally voted down the controversial $700 billion bailout, is apparently no longer necessary. The door has been opened, and the Treasury Secretary and Fed Chairman feel they can now pledge whatever they want. Perhaps they are inching up a zero at a time just to see what the public’s tolerance is for unrepayable debt. The new sum – $7.76 trillion – represents $25,000 for every citizen in the country, or half the value of everything produced in the nation last year; yet it’s not clear that a mere half of our net worth will rescue the financial system. One bankrupt bank after another has been bailed out with public money, in a futile effort to prevent a collapse of a massive multi-trillion dollar derivatives pyramid created by the banks. But according to the Comptroller of the Currency, U.S. commercial banks now carry over $180 trillion in derivatives on their books. The public is liable to be bankrupted before this mess is resolved.
This video may contain images depicting the reality and horror of war/violence and should only be viewed by a mature audience.
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The pictures of police brutality that will shock all of Britain. Three police officers beat up handcuffed Iraq war veteran.
These shameful and inexcusable scenes show a war hero who served his country in Iraq and Afghanistan fearing for his life amid a violent and unprovoked assault by police. Lance Corporal Mark Aspinall, highly praised by his commanding officer for bravery against the Taliban in Afghanistan, was set upon by three uniformed officers on his home town High Street.
The sickening attack, caught in forensic detail on CCTV, led a crown court judge to label it one of the worst examples of police aggression he had ever seen. Yet, in a travesty of justice, it was Mark who was at first convicted by magistrates of attacking the policemen.. despite the video footage clearly showing he was the victim.
by Walter Brasch
Nov. 30, 2008
My local newspaper editor, as he does regularly, once again attacked unions as the problem in America. This is the same editor who once said “all the laziest goof-offs and goldbricks in the newsroom” where he began his career were union officials—and that the unionized New York Times editorial writers are nothing more than “limousine liberals.”
For this most recent attack, two days after Thanksgiving, he combined the economy with what he believes are greedy unions. “[L]abor unions and their leaders are . . . distorting the truth about the American workplace,” wrote the editor. First he set up Andy Stern, president of the Service Employees International Union, who said that “Tens of millions of Americans are working harder than ever just to stay afloat. The latest Census Bureau report shows that wages are dropping and more people lack health insurance . . . a greater percentage of the economy is going to profits than to wages.”
Then, he cut apart Stern’s statement by gleefully citing data from the pro-business pro-management U.S. Chamber of Commerce. The Chamber said that wages, adjusted for inflation, for workers rose 30 percent from 1967 to 2007. Now, 30 percent seems good—unless you do the math. That’s about three-quarters of one percent per year, far less than any executive compensation. The editor then added in about 30 percent for benefits. Of course, these benefits also include federally-mandated deductions, like social security, Medicare, and unemployment taxes.
by Chris Marsden
29 November 2008
Iceland is facing a social and economic catastrophe. Its 300,000 people have suffered the worst and most immediate impact of the worldwide financial crisis of any advanced country.
by Michel Chossudovsky
Global Research, November 30, 2008
Nov. 29, 2008
Washington is Fostering Political Divisions between India and Pakistan
The Mumbai terror attacks were part of a carefully planned and coordinated operation involving several teams of experienced and trained gunmen.
November 28, 2008
The terrorists in the Indian city of Mumbai, who killed more than 150 people and injured over 300, used the same tactics that Chechen field militants employed in the Northern Caucasus, says Russian counter terrorism presidential envoy Anatoly Safonov.
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Deepak Chopra Blames Washington For Mumbai Terrorist Attacks
Grim news from Mumbai hits home + Terrorists monitored British websites using BlackBerry phones + Taj Mahal erupts in flames
by Gaither Stewart
Nov 30, 2008
(Paris) It is counterproductive to attempt to debunk Parisian cafés and café culture. Whether revisionists and debunkers approve or not, the Café de Flore on Paris’ Boulevard Saint Germain is a living institution. Since its founding in 1870 it has existed as a café and second home for writers, artists and intellectuals of the likes of Apollinaire, Camus, Sartre and Simone de Beauvoir, and frequented by Hemingway and even Truman Capote. In the 1920s and 30s, the Flore was the meeting place of the Right, after World War II of the Left. Forming a triangle with the famous but touristy Deux Magots (today “out” and taboo for the Parisian intelligentsia) and the Brasserie Lipp just across the street, the history of the Flore has always been linked with Paris, culture and political ideas.
For purposeful and inflexible urban walkers like Henry Miller and myself certain cityscapes palpitate with the violent ideas that have made great cities like Moscow and St. Petersburg, Berlin, Munich and Budapest. It is impossible to pass the Café de Flore without pausing a moment to imagine Albert Camus and Jean Paul Sartre ensconced at a back table in that left-bank citadel of thought on a rainy November day, discussing the rage and the alienation and the revolt and the urge for revolution of their age.
In their works those existentialist intellectuals wrote the biography of European rebellion born with the French Revolution. Much of their thought was born in the Flore.
Now we too might pause to wonder who is going to write where the history of the great modern American Revolution in the making. When will it begin, we wonder now? Or has it already begun somewhere in the guts of America? We can’t help but wonder.