The real news.

I'm quite the news junkie so I will start posting news from around the world that affects all of us in this thread. If it gains traction great, if not I won't bother the forum with it. Basically this will be an attempt to bring you news that you won't find on Drudge Fox or CNN. The first post will be "so you don't think it can happen to a Western economy".

Protests in Iceland over economy

Hundreds of people have been protesting in Reykjavik after the near-collapse of the country's economy.

This week it became the first Western country in more than 30 years to approach the International Monetary Fund for aid.

Mark Worthington reports.

Other reports say 1000. Two minute video.

http://news.bbc.co.uk/2/hi/europe/7691485.stm

Another two minutes.

http://news.bbc.co.uk/2/hi/europe/7704634.stm

Well Let's see,

The GM/Chrysler merger got shot down and GM is to make a huge announcement tomorrow when they report their dismal 3rd quarter earnings. Bankruptcy? Layoffs? Both? We'll see.

The DOW has plunged about 700 points since the Obamination won the election, there's a vote of confidence for you.

I noticed just last night that Toyota is running 0% interest commercials on television. Remember when Ford and GM did this? Didn't help Ford or GM. What's more is the following article.

2nd UPDATE:Toyota 2Q Profit Plunges 69%; Fiscal Year Outlook Cut In Half
Dow Jones
November 06, 2008: 04:20 AM EST

TOKYO -(Dow Jones)- Toyota Motor Corp. (7203.TO) Thursday reported a nearly 70% drop in net profit for the fiscal second quarter and slashed its fiscal year forecast by more than half, projecting that its net profit will come in far below $10 billion due to a strong yen and slack sales in major markets.

http://money.cnn.com/news/newsfeeds/art ... RTUNE5.htm

Meanwhile "change" has come to Peru.

Peru suspends civil liberties over mining-royalties protest

http://www2.journalnow.com/content/2008 ... -royaltie/

Else where Jobless claims have risen to a level not seen in 25 years and lets not forget the ones who can no longer claim benefits and therefore aren't counted.

Continuing jobless claims hit 25-year high

Weekly initial claims fall 4,000 to 481,000, Labor Department reports

By Rex Nutting, MarketWatch
Last update: 8:47 a.m. EST Nov. 6, 2008

WASHINGTON (MarketWatch) -- The number of U.S. residents collecting state unemployment benefits reached the highest level in 25 years, rising by 122,000 to a seasonally adjusted 3.84 million in the week ending Oct. 25, the Labor Department reported Thursday.

Meanwhile, the number of first-time applications for benefits fell by 4,000 to 481,000 in the week ending Nov. 1, the government agency added. Read the full government report.
The jobless claims report shows businesses are laying off workers at a rapid pace, while finding a replacement job is ever harder.

http://www.marketwatch.com/news/story/C ... aspx?guid={78FFEEFB-9D2C-4AE3-840A-BCAF827DAD74}

Thanks to treaties like Bretton Woods and programs like the Marshall Plan The dollar has went from being one of the most reliable currencies (backed by a real commodity, instead of backed by the governments ability to tax) to a fiat world reserve currency. We have went from a creditor nation to a debtor nation. Since the bankers took over with the Federal Reserve we have went from largely minding our own business to being the worlds policeman. So what is in store for us tomorrow? Well here are some quotes from one of the men instrumental in creating the system we have before us today.

“By a continuing process of inflation, government can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

John Maynard Keynes

“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens.”

John Maynard Keynes

“In truth, the gold standard is already a barbarous relic”

John Maynard Keynes

“For at least another hundred years we must pre­tend to ourselves and to every one that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury (bank interest) and precaution must be our gods for a little longer still.”

John Maynard Keynes

So, now we will get a new Bretton Woods which will dismantle the Dollar entirely and give us a new fiat currency. That is what your leaders will be doing over the next couple of months, formulating a plan to cede our currency to an international organization hell bent on making all countries equal. What I mean to say is redistributing the wealth to make all countries equal, with the bankers at the helm of course. The big problem with that from my point of view is that there are not enough resources to bring the world up to our standard of living so of course we must be brought down to their level.

A New Bretton Woods
Economies of scale

by Anne Pettifor

Global Research, October 30, 2008
The Guardian - 2008-10-21

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To restore stability to the global financial system (and therefore to trade and the ecosystem) we need a "great transformation" to reverse the most pernicious elements of the failed "globalisation" experiment. Three pillars are vital to any new international architecture. They are:

• The taming of financial markets – through the re-introduction of capital controls; restraints in the growth of credit; and the establishment of a Keynesian international clearing agency;

• "Upsizing" the state – empowering governments to respond to democratic mandates by wresting power over decision-making from unaccountable financial markets, and restoring policy autonomy to elected governments;

• "Downsizing" the single global market – by introducing an international trading system based on the concept of "appropriate scale".

http://www.globalresearch.ca/index.php? ... &aid=10756

Like it or not, the U.S. has been in receivership since 1971. Our treaties with OPEC, to use only the petrodollar as a means of trade for oil has run its course. We can no longer borrow from the world for all of our worldly means, because the world is calling in our debt. Prepare to see your children live with a standard lesser than your own because the entire message behind a central bank is that Marx has won. When you finally come to the conclusion that the banks regard your money as their own, and that they only benevolently let you use their currency you will begin to understand that you are truly a slave to the creators of fiat monies. Think I'm nuts? Think about this. Most purchases are made with plastic today. It doesn't matter if you use a debit card or a credit card, most of the transactions you make are logged in into a central database clearing house. Look at your next Wall Mart receipt and realize that all of that information is not just evaporating into thin air. In the foreseeable future your insurance cost will be regulated b y the food you buy. Buy a gun or ammo with your card? Yep they know you are a gun owner. The banks are looking for a cashless society because they will then be able to completely control what you buy. No more running down to the dope dealer when you have no cash. But then again what else will be made illegal in a Marxist society? If one looks at it from the proper perspective using plastic is tantamount to being branded, just like cattle, because the more you use it the more your masters know about you. I wonder how many of you would take an RFID chip. It's coming, I don't know when, but it will be here.

Marx's fifth plank.

5. Centralization of credit in the hands of the state, by means of a national bank with State capital and an exclusive monopoly.
Americans call it the Federal Reserve which is a privately-owned credit/debt system allowed by the Federal Reserve act of 1913. All local banks are members of the Fed system, and are regulated by the Federal Deposit Insurance Corporation (FDIC) another privately-owned corporation. The Federal Reserve Banks issue Fiat Paper Money and practice economically destructive fractional reserve banking.

http://www.libertyzone.com/Communist-Ma ... lanks.html

Oh goody, We get the wicked witch of the south back onto international stage.

http://intellibriefs.blogspot.com/

“Hussein has chosen to spend his money on building weapons of mass destruction and palaces for his cronies.”

Madeleine Albright

Hmph, Ask George where they are Madeline.

“Saddam's goal ... is to achieve the lifting of U.N. sanctions while retaining and enhancing Iraq's weapons of mass destruction programs. We cannot, we must not and we will not let him succeed.”

Madeline Albright

Yawn

Our strategic dialogue with China can both protect American interests and uphold our principles, provided we are honest about our differences on human rights and other issues and provided we use a mix of targeted incentives and sanctions to narrow these differences.

Madeleine Albright

Yep, so long as passing jobs and missile guidance technology to China is good for America. Can't trust any of them can we?

Can anyone say false flag?

Here we have leaders all over the globe claiming that there is something catastrophic on the horizon. Seems like they are leading by fear once again and if there is one thing I hate it is fear mongering. Anyway, why do they know that there is something that we as the world must fear and why won't they just come out and tell us instead of keeping us in suspense? Bah, here's your news.

Warnings from world leaders all within 72 hours
"Australian PM Kevin Rudd - “Nuke strike would make 9/11 insignificant” and other weird warnings"

"Over the last 72 hours there has been a strange melange of cryptic messages leaked from world political leaders about what could be in store for America over the next few months.

These predictions of impending doom come from England, France, Australia and the United States.

http://www.thejerusalemgiftshop.com/isr ... ours-.html

Echoing Vice President-Elect Joe Biden's promise of a generated crisis and Colin Powell's revelation of a crisis that will happen on January 21 or 22, we now have the president of the Council on Foreign Relations and Biderberger Richard Haas similar predictions of doom and gloom scheduled for President-Elect Obama.

http://www.blacklistednews.com/news-2208-0-20-20--.html

No, really, it wasn't about oil we are just spreading love by blowing up childrens parents so that those same children can become terrorist too.

Royal Dutch Shell oil company and the Iraqi Oil Ministry have struck a secret, as-of-yet non-binding agreement that gives a monopoly over southern Iraq’s natural gas to the energy giant. It marks the first time in over 35 years a Western oil company has played a major role in the country’s most lucrative industry.

http://cryptogon.com/?p=4945

Say good bye to U.S. sovereignty. Soon we will have a global government from whose oppression you can not escape, unless you can live on the moon.

The international financial crisis has given world leaders a unique opportunity to create a truly global society, Britain's Prime Minister Gordon Brown will say in a keynote foreign policy speech on Monday.

http://mobile.reuters.com/mobile/m/Full ... rc=RSS-BUS

Another fear tactic to bring us into a cashless society.

Report: Terrorists use cash, avoid financial ties

By PAMELA HESS – 1 day ago

WASHINGTON (AP) — The international system for tracking and cutting off terrorist financing has achieved major successes but is fraying seven years after the Sept. 11 attacks, two former Treasury Department officials report. Some U.S. allies in the fight against terrorism pose the weakest links.

http://ap.google.com/article/ALeqM5jdGg ... gD94B1PCO0

Almost forgot to mention. The private entity known as the Federal Reserve is exempt from telling you where the money they stole from you for the bailouts is going.

Bloomberg Sues Fed to Force Disclosure of Collateral (Update1)

By Mark Pittman

Nov. 7 (Bloomberg) -- Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.

The lawsuit is based on the U.S. Freedom of Information Act, which requires federal agencies to make government documents available to the press and the public, according to the complaint. The suit, filed in New York, doesn't seek money damages.

http://www.bloomberg.com/apps/news?pid= ... &refer=law

A finance heavy with a little bit of police state thrown in for good measure. Hank Paulson is a criminal, wish they'd go after him. Is anyone else tiring of the untouchable traitors running the show?

FAIL: One Word For Them All

Karl Denninger
Market Ticker
Nov 12, 2008

Paulson, Bernanke, Geithner, Congress...

President Bush...

And if he doesn't get on top of this, President-Elect Obama.

Let us begin by noting that President-Elect Obama voted for the $700 billion bailout - The "No Banker Left Hungry Act" - while the rest of America literally was losing their jobs and homes.

Yesterday we learned that Fannie Mae lost $29 billion in the third quarter, most of it by admitting to what they knew back in the first quarter - that a huge tax credit they had would be worthless.

Of course they didn't admit this at the time, even though I and others pointed it out.

Why aren't the former executives in prison for that bit of book-cooking?

http://www.321gold.com/editorials/denni ... 11208.html

The China connection to Goldman Sachs figures prominently in the current crisis. Because China owned $376 billion of Freddie Mac and Fannie Mae paper, it played a big role in the financial crisis, and Treasury Secretary Henry Paulson, with his own personal and financial ties to China, admittedly tried to reassure the Chinese through this process that their investments would be protected. They are being “protected” in the sense that the American taxpayers are now on the hook for these government mortgage companies, which have been nationalized.

http://canadafreepress.com/index.php/article/6213


Oh yeah, and Bush IS a collectivist, look who his friends are.

Obama to Inherit "New Global Order" from Bush

cliff-kincaid-small.jpgNovember 11, 2008
By Cliff Kincaid

The bankruptcy of Iceland, now receiving a $2.1 billion two-year loan from the International Monetary Fund (IMF) "to support an economic recovery program," has been depicted as something that could never happen to America. Is the U.S. too big to fail? Or is the U.S. going through the same process, albeit on a slower basis?

Will we wake up to discover that America is now a bit player in a "New World Order" dominated by China, rich Arab nations, and international institutions?

The politicians from both major U.S. political parties are attempting, with the help of the media, to mask what is happening by passing what they call a financial "rescue" and economic "stimulus" packages. The word "stimulus" is sort of like "rescue." This is actually a process of piling up more debt and spending on top of more debt and spending. This puts us more at the mercy of those who decide to lend us money.

On November 15, the crisis goes global, as the Bush White House hosts an "international summit" designed, in the words of some of those participating, to create new "international financial architecture." This means increasing the power and financial resources of international agencies like the IMF, possibly by implementing global taxes on the U.S. and other nations.

http://www.rightsidenews.com/2008111125 ... -bush.html

Senator to introduce measure to require health insurance for all Americans
John Byrne
Published: Wednesday November 12, 2008




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Senate Finance Committee Chairman and Montana's Democratic senator Max Baucus will introduce a sweeping healthcare measure today intended to ensure healthcare coverage for all Americans.

The move is short on financial specifics....

Duh

A little history.

From the Articles of Confederation

Article IV. The better to secure and perpetuate mutual friendship and intercourse among the people of the different States in this Union, the free inhabitants of each of these States, paupers, vagabonds, and fugitives from justice excepted, shall be entitled to all privileges and immunities of free citizens in the several States; and the people of each State shall free ingress and regress to and from any other State, and shall enjoy therein all the privileges of trade and commerce, subject to the same duties, impositions, and restrictions as the inhabitants thereof respectively, provided that such restrictions shall not extend so far as to prevent the removal of property imported into any State, to any other State, of which the owner is an inhabitant; provided also that no imposition, duties or restriction shall be laid by any State, on the property of the United States, or either of them.

If any person guilty of, or charged with, treason, felony, or other high misdemeanor in any State, shall flee from justice, and be found in any of the United States, he shall, upon demand of the Governor or executive power of the State from which he fled, be delivered up and removed to the State having jurisdiction of his offense.

Full faith and credit shall be given in each of these States to the records, acts, and judicial proceedings of the courts and magistrates of every other State.

The Right To Travel

As the Supreme Court notes in Saenz v Roe, 98-97 (1999), the Constitution does not contain the word "travel" in any context, let alone an explicit right to travel (except for members of Congress, who are guaranteed the right to travel to and from Congress). The presumed right to travel, however, is firmly established in U.S. law and precedent. In U.S. v Guest, 383 U.S. 745 (1966), the Court noted, "It is a right that has been firmly established and repeatedly recognized." In fact, in Shapiro v Thompson, 394 U.S. 618 (1969), Justice Stewart noted in a concurring opinion that "it is a right broadly assertable against private interference as well as governmental action. Like the right of association, ... it is a virtually unconditional personal right, guaranteed by the Constitution to us all." It is interesting to note that the Articles of Confederation had an explicit right to travel; it is now thought that the right is so fundamental that the Framers may have thought it unnecessary to include it in the Constitution or the Bill of Rights.
Thanks to Marko Liias for the idea. Thanks to W.H. van Atteveldt for the note about Congressional travel.

http://www.usconstitution.net/constnot.html#travel

Then we have Texas. Can anyone say "papers please" in a heavy German accent?

DPS aims for driver's license checkpoints
11/12/2008 8:30 AM
By: Associated Press

AUSTIN -- The state's top law enforcement agency asked Texas Attorney General Greg Abbott for a ruling on the legality of setting up statewide driver's license checkpoints.

More global warming geeks caught in their lie. Did Fox News pick up on this? CNN? Drudge?

The world has never seen such freezing heat

By Christopher Booker
Last Updated: 12:01am GMT 16/11/2008

Have your say Read comments

A surreal scientific blunder last week raised a huge question mark about the temperature records that underpin the worldwide alarm over global warming. On Monday, Nasa's Goddard Institute for Space Studies (GISS), which is run by Al Gore's chief scientific ally, Dr James Hansen, and is one of four bodies responsible for monitoring global temperatures, announced that last month was the hottest October on record.

A GISS spokesman lamely explained that the reason for the error in the Russian figures was that they were obtained from another body, and that GISS did not have resources to exercise proper quality control over the data it was supplied with. This is an astonishing admission: the figures published by Dr Hansen's institute are not only one of the four data sets that the UN's Intergovernmental Panel on Climate Change (IPCC) relies on to promote its case for global warming, but they are the most widely quoted, since they consistently show higher temperatures than the others.

http://www.telegraph.co.uk/opinion/main ... do1610.xml

Tax delinquency foreclosure list in Wayne county (Detriot) is 137 pages long. How long until there is a squatters rebellion?

The following video shows just how hard California is being hit by the foreclosures. This is an absolutely amazing video. People are leaving their entire lives behind in the foreclosed homes that they are fleeing. Whole family lives going up in smoke with personal pictures, memories and possessions left in the overinflated homes that ruined their lives.

http://p.castfire.com/castfire_v2.swf?f ... =&rev=2701

Infamous Quote from Henry Kissinger

"Today Americans would be outraged if U.N. troops entered Los Angeles to restore order; tomorrow they will be grateful. This is especially true if they were told there was an outside threat from beyond, whether real or promulgated, that threatened our very existence. It is then that all peoples of the world will plead with world leaders to deliver them from this evil. The one thing every man fears is the unknown. When presented with this scenario, individual rights will be willingly relinquished for the guarantee of their well being granted to them by their world government."

Spoken like a New World Order hack who would like to enslave us all under a world government from which a dissenter could not escape. How can the Canadian military come onto U.S. soil and be expected to preserve the rights of the people and uphold the Constitution?

U.S.-Canada Military Plan Could Place Troops in Each Other’s Country
By Matthew Rothschild, November 17, 2008

The militaries of the United States and Canada are wrapping up a seven-day exercise called “Vigilant Shield” on Tuesday. This marks the continuation of an ever-closer relationship between the two.

For instance, did you know that the United States military could go into Canada in times of emergency? And the Canadian military could go into the United States?

This extraordinary fact appears in a joint document of the U.S. Northern Command and the Canada Command. (The Pentagon established NorthCom in October 2002, and the Canadian military established the Canada Command in June 2005.

http://www.progressive.org/mag/wx111708.html

I know some of this financial stuff is hard to fathom, but it is important and it will affect us all. The sub prime mortgage mess was jut the tip of the iceberg and we still have a ways to fall. This guy has been spot on over the course of the fall out and I have no reason to think that he is off the mark today.

Moody’s Ominous Alt-A Warning - Mortgage Implosion Round 2

Posted on November 18th, 2008 in Daily Mortgage/Housing News - The Real Story, Mr Mortgage's Personal Opinions/Research

Moody’s recently put out a very chilling report that brings home just how early it is in the overall mortgage and housing implosion.

Many of us have written volumes on the impending Alt-A Implosion. But, I still don’t think people understand that the Alt-A universe, larger is size than SubPrime, is presently imploding in front of our very eyes. Unlike Subprime loans that were more localized to specific regions of the bubble states or lower priced areas, Alt-A loans cut across all socio-economic boundaries and can be found littering some of the most affluent areas in the nation.

For those of you who think that higher priced regions are ‘isolated’ from price declines just because they have not been beaten as badly as Subprime epicenters yet, this should be a wake up call.

The ‘Alt-A Implosion’ could dwarf the Subprime Implosion when all is said and done. This is because values in higher-priced, heavy Alt-A areas should actually end up being hit harder, as Alt-A loan allowed much more leveraged and much less documentation than Subprime relying mostly on a credit score and an appraisal for loan approval. Within the Alt-A universe is where all of your stated income, no ratio, no doc, 100% piggy-backs can be found. The most notorious Alt-A loan is the Pay Option ARM.

The way all of these loans were structured is producing a very linear mortgage crisis - from Subprime to Alt-A to Jumbo-Prime then Prime. Jumbo Prime is arguably a little less risky than Alt-A but includes much of the same types of loans such as the 5/1 interest Only. Much of this was also stated income, allowed high combined loan-to-values and carried low introductory teaser rates. With values down as much as they are in the Jumbo regions, I would suspect that Jumbo Prime will end up acting much more like Alt-A in the future.

The coming Alt-A and Jumbo Prime Implosions puts at risk well over $1 trillion in residential mortgage loans, much of it sitting on the balance sheets of some of the nations largest banks such as Wells Fargo, Chase, Bank of America and Citi. It will also take out of commission the higher income demographic for a long period of time.

At the very bottom of this post are many links dating back months on just how devastating the Alt-A Implosion will be. This is likely why banks and regulators are so gung-ho on mortgage modifications as of late. None have the balance sheet to manage high double-digit default rates on what they still consider to be ‘high grade’ loans.

Below are highlights from a recent release from Mortgage Daily. -Best Mr Mortgage

http://mrmortgage.ml-implode.com/2008/1 ... n-round-2/

Real Nice, BoA takes bailout money and invests it in China. Thank god for Paulson and Bush, they are saving us from our wealth, right and terrorist all at the same time.

Monday, November 17th, 2008
Bank of America to Boost Stake in China’s No. 2 Bank

By William Patalon III
Executive Editor
Money Morning/The Money Map Report

Bank of America Corp. (BAC) will almost double its stake in state-owned banking giant China Construction Bank Corp., and will control nearly 20% of China’s second-largest bank when the deal is finalized.

The official announcement yesterday (Monday) ends months of speculation that the Charlotte, N.C.-based BofA would dump part of its three-year-old investment the Beijing-based bank to offset the effects of the global financial crisis. In an article on Saturday, Money Morning reported that the deal was close, though noting that the actual timing was unknown.

Bank of America plans to be “a long-term and significant strategic investor in CCB,” the U.S. lender said in a statement. The shares to be acquired to carry a restriction, however: They can’t be sold before Aug. 29, 2011, unless the China bank provides special permission.

more
http://www.moneymorning.com/2008/11/17/ ... bank-corp/

More about the new pimps in the White House.

hursday, November 06, 2008
This post removed due to Cook County Government Intimidation
http://illinoisreview.typepad.com/illin ... -rahm.html



350,000 hits
Why doesn't Rahm Emanuel pay property taxes?
http://www.google.com/search?hl=en&q=Wh ... arch&meta=



Why doesn't Rahm Emanuel pay property taxes?
Format for printing
Submitted by mercedisawesome on Thu, 2008-11-06 14:56.
mercedisawesome's picture
http://sunspot.mercedsunstar.com/?q=node/5492

Just found this on Reuters:

According to the Cook County Assessor's website, the Chicago home of four-term Democrat Congressman and likely new White House Chief of Staff, Rahm Emanuel, doesn't exist. While the address of 4228 North Hermitage is listed as Emanuel's residence on the Illinois State Board of Elections' website, there seems to be no public record of Emanuel ever paying property taxes on this home.

The Cook County Assessor's and Cook County Treasurer's online records indicate Emanuel's Chicago neighbors pay between $3,500 and $7,000 annually. However, Illinois Review has been unable to locate any evidence the former Clinton advisor and investment banker is paying his fair share of Cook County's notoriously high tax burden.

Why wouldn't 4228 North Hermitage property owners Rahm Emanuel and wife Amy Rule not pay property taxes?

One reason may be because Emanuel and Rule declared their 4228 North Hermitage home as the office location for their non-profit foundation appropriately called the "Rahm Emanuel and Amy Rule Charitable Foundation". As a non-profit headquarters, they may consider their home as exempt from paying taxes.

In January 2007, USA Today reported on Emanuel's foundation:

The Rahm Emanuel and Amy Rule Charitable Trust was formed in 2002, when the Chicago lawmaker was first elected. The former Clinton White House aide and his wife, Amy Rule, are its only donors. Emanuel was an investment banker after serving in the White House.

No we haven't felt the pain they felt in the thirties yet. The question is, will we?



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