American & British Banks are Bankrupt!

• Does the title surprise you? It should not. But if you listened to MSM last year you seem to get the impression that the powers that be (PTB) know what they are doing and have a handle on the problem. This is far and away from the truth. The truth is : Insolvency ! Bankruptcy !
   
• No amount of shilling, propaganda and delusional optimism can shield us from what is about to happen. We are going to see a massive collapse of the financial system soon. GEAB and Celente give the timeline : by end of Q1 2009. (see my earlier postings)
   
• The truth is the bailout money is now exceeding all the capital of the banks! And it does not look like it is working. Politicians are already hinting of more bailouts to come. Esteemed economist Noriel Roubini says in Roubini Predicts U.S. Losses May Reach $3.6 Trillion :
    
  U.S. financial losses from the credit crisis may reach $3.6 trillion, suggesting the banking system is “effectively insolvent,” said New York University Professor Nouriel Roubini, who predicted last year’s economic crisis.
   
  “I’ve found that credit losses could peak at a level of $3.6 trillion for U.S. institutions, half of them by banks and broker dealers,” Roubini said at a conference in Dubai today. “If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion. This is a systemic banking crisis.”
   
  Losses and writedowns at financial companies worldwide have risen to more than $1 trillion since the U.S. subprime mortgage market collapsed in 2007, according to data compiled by Bloomberg.
   
  President Barack Obama will have to use as much as $1 trillion of public funds to shore up the capitalization of the banking sector, following the $350 billion injection by the Bush administration, Roubini told Bloomberg News. Congress last year approved a $700 billion rescue fund, of which half remains to be disbursed. ….
    
  “The problems of Citi, Bank of America and others suggest the system is bankrupt,” Roubini said. “In Europe, it’s the same thing.”
   
• So they are effectively insolvent. It means they are bankrupt ! At least Professor Roubini has the courage to say it publicly. Not so for the other MSM analysts.
   
• Someone please explain to me why anyone will recommend or buy banking stocks? 
   
• Our friends across the ocean that can’t speak  proper English (Heh Heh), the British, are in no less deep a shit hole ! British banks are ‘technically insolvent’  :
   
  Britains biggest banks are “technically insolvent”, Royal Bank of Scotland said yesterday, as the global banking industry was rocked by another day of turmoil, including the announcement of $23bn (£16bn) of new losses from Merrill Lynch and Citigroup, the giant US institutions.
   
  Analysts working for RBS, one of several British banks to have received emergency funding from the UK Government last year, told the City that “the domestic UK banks are technically insolvent on a fully marked-to-market basis”.
   
• Them British fellas are catching on pretty fast. They are learning doubly quick from the FedRes :
    
  The urge to coverup what one ought not be doing is immense. That fact helps explain Plans To Allow Secret Printing By The BOE. The Bank of England will be able to print extra money without having legally to declare it under new plans which will heighten fears that the Government will secretly pump extra cash into the economy.
   
  The Government is set to throw out the 165-year old law that obliges the Bank to publish a weekly account of its balance sheet – a move that will allow it theoretically to embark covertly on so-called quantitative easing. The Banking Bill, which is currently passing through Parliament, abolishes a key section of the law laid down by Robert Peel’s Government in 1844 which originally granted the Bank the sole right to print UK money.
   
  The ostensible reason for the reform, which means the Bank will not have to print details of its own accounts and the amount of notes and coins flowing through the UK economy, is to allow the Bank more power to overhaul troubled financial institutions in the future, under its Special Resolution Authority. However, some have warned that it means: “there is nothing to stop an unreported and unmonitored flooding of the money market by the undisciplined use of the printing presses.”
   
• Yep ! Gordon Brown is getting callouses on his testicles juggling knives and axes with both hands and feet. Gordon Brown brings Britain to the edge of bankruptcy  :
      
  They don’t know what they’re doing, do they? With every step taken by the Government as it tries frantically to prop up the British banking system, this central truth becomes ever more obvious.
   
  Yesterday marked a new low for all involved, even by the standards of this crisis. Britons woke to news of the enormity of the fresh horrors in store. Despite all the sophistry and outdated boom-era terminology from experts, I think a far greater number of people than is imagined grasp at root what is happening here.
   
  The country stands on the precipice. We are at risk of utter humiliation, of London becoming a Reykjavik on Thames and Britain going under. Thanks to the arrogance, hubristic strutting and serial incompetence of the Government and a group of bankers, the possibility of national bankruptcy is not unrealistic.
   
  The political impact will be seismic; anger will rage. The haunted looks on the faces of those in supporting roles, such as the Chancellor, suggest they have worked out that a tragedy is unfolding here. Gordon Brown is engaged no longer in a standard battle for re-election; instead he is fighting to avoid going down in history disgraced completely.
   
• Andrew Grice is also pretty descriptive ‘This is like giving the kiss of life to a corpse’ :
    
  The Government does not know whether the second bank rescue package it launched yesterday will work, senior ministers admitted last night. “The truth is that we can’t be sure whether it will be effective,” one told The Independent. “We have to look calm to try to instil some confidence in the system. But we don’t know what will happen next. No one can be sure that this is the end of it.”
   
  Another added: “We are in completely uncharted waters. The position is changing all the time.”  Gordon Brown and Alistair Darling claimed the second bailout did not mean the first package they unveiled last October had failed. That deal, they argued, was about preventing banks from going bust; yesterday’s was about ensuring they had the confidence to lend to businesses and the public.
   
  Ministers struggled to explain why, if the new package was not a “blank cheque”, they could not disclose how much it would cost taxpayers. Officials dismissed talk of a £200bn bailout, saying some measures had a low risk and figures were still being calculated. 
   
• “the second bailout did not mean the first… had failed” . Sure if you say so! Pigs can fly ! Their only problem is landing ! Water Boarding is not torture ! It is a recommended medical procedure to cleanse your GI tract ! Sure sure if you say so. Go ahead and cleanse your own GI tract. My gut and my ass look pretty clean the last time I checked!
   
• So are we in the 21st Century Great Depression or not ?? Ambrose Evans-Pritchard: Monetary union puts half of Europe in depression :
   
  Events are moving fast in Europe. The worst riots since the fall of Communism have swept the Baltics and the south Balkans. An incipient crisis is taking shape in the Club Med bond markets. S&P has cut Greek debt to near junk. Spanish, Portuguese, and Irish bonds are on negative watch. Dublin has nationalised Anglo Irish Bank with its half-built folly on North Wall Quay and €73bn (£65bn) of liabilities, moving a step nearer the line where markets probe the solvency of the Irish state.
   
  A great ring of EU states stretching from Eastern Europe down across Mare Nostrum to the Celtic fringe are either in a 1930s depression already or soon will be. Greece’s social fabric is unravelling before the pain begins, which bodes ill.
   
  Each is a victim of ill-judged economic policies foisted upon them by elites in thrall to Europe’s monetary project – either in EMU or preparing to join – and each is trapped. 
   
• The 2nd bailout of this past week is a major alarm ! A big fire alarm went off worldwide. For those who do not understand : Major financial collapse worldwide ahead ! Much worse than in October last year. It looks like it will be even more rapid. Those who are asleep will be stunned, much like the world was stunned in November and December on how rapidly things can go to hell ! Jim Willie in Gold, Zombie Banking System, Lightening, Earthquakes and Hurricanes :
   
  WHAT COMES NEXT IN THE UNTIED STATES AND THE GLOBAL ECONOMY WILL INVOLVE CONSIDERABLE DESTRUCTION AND NOTABLE DISLOCATION TO FINANCIAL STRUCTURES, AS IN FINANCIAL MARKETS, PRICING SYSTEMS, AND NATIONAL ECONOMIES.  ….
   
• The Light at the End of the Tunnel ? It’s the Train coming at you !

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Webster Tarpley on Barack Obama

• Webster G. Tarpley is an author, journalist, political analyst and lecturer. He has written extensively on the US political scene, economic policies, history, character analysis of the main players and what to expect from them.
   
• His books can be found on his website : http://www.tarpley.net/ . They include :
    
  - Surviving the Cataclysm
  - George HW Bush : The UnAuthorized Biography (with Anton Chaitkin)
  - 911 Synthetic Terror : Made in USA
  - Obama : The Post Modern Coup
  - Obama : the UnAuthorized Biography
   
• His recent articles can be found at :
   
  http://www.rense.com/Datapages/tarpley.htm
    
• In this interview by Jason Bermas, of the Alex Jones Radio, Tarpley weighs in on his assessment of Obama. What can we expect from this 1st black American president with ‘Messianic’ cult like following? What are his policies? What are the driving characters and forces in Washington that will ‘guide’ his policies.
   
• In Alex Jones inimitable style: no propaganda, no shilling, forthright and hard hitting, Jason Bermas leads the line for Alex. 

end

The Truth About the Gaza Massacre!

• Draw your own conclusions ! We will not be silent on Gaza !

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Michel Chossudovsky – The Great Depression of the 21st Century

• Award winning author and economics professor Michel Chossudovsky is Director of the Centre for Research on Globalization, Montreal, which hosts the critically acclaimed website: www.globalresearch.ca.
   
• Michel Chossudovsky has taught at universities and academic institutions in North America, Western Europe, Latin America, Asia and the Pacific. He is currently teaching in the International Development and Globalization Studies Program at the University of Ottawa.
   
• Michel Chossudovsky has also worked for several United Nations organizations on missions to Latin America and sub-Saharan Africa and has acted as adviser to governments of developing countries.
  He is an active member of the Canadian antiwar movement and has written extensively on US and allied war plans in the Balkans, the Middle East and Central Asia.
   
• He is the author of several international best sellers including The Globalization of Poverty and the New World Order (2003) and America’s “War on Terrorism” (2005) and more than 500 articles. His writings have been translated into more than 25 languages. He is also a contributor to the Encyclopaedia Britannica. Michel Chossudovsky can be reached at crgeditor@yahoo.com
   
  Public Lecture organized by the Centre for Research on Globalization (CRG)  Montreal Jan 14, 2009
   
• Lecture points :
   
  Causes and consequences of the financial meltdown;
  The speculative onslaught;
  Financial fraud and the “bank bailouts”;
  Bankruptcy of the real economy;
  Impacts on employment, wages and social services;
  Towards a spiralling public debt;
  The economic crisis and its relationship to the Middle East war;
  The centralization of corporate power;
  The concentration of wealth;
  The globalization of poverty.
  

end

Obama, Roosevelt, Gold Confiscation and Dollar Devaluation

• We are in the early phase of the 21st Century Great Depression. More and more people are using the ‘Depression’ word. To get an idea of what is about to happen we need to go back to 1929-1939, the period of the 1st Great Depression. 
   
• Will this be worse than the 1st Great Depression? It is likely to be a lot worse. My feeling is that we are entering a period of global war or wars again. What is the Obama administration up against in this economic 9/11 ? What will the administration implement?
   
• Many commentators have mentioned the similarities between Obama and Franklin D Roosevelt (FDR). They are right. Thing about the New Deal, fiscal stimulus, infrastructure spending… Both Obama and FDR are talking up the same alley. 
   
• For Gold Bugs, there is that interesting policy of FDR : the confiscation and revaluation of Gold (devaluation of USD against Gold).  Will Obama stay true to this FDR policy? Who knows ?
   
• Another Gold Bug, Stewart Thomson says in Is President Obama Wearing A Giant Gold Mask? :
   
  • The “revaluation” issue of gold has been a hot potato with gold investors. Investors have polarized into two camps. Polarized “I’m 100% right and you’re 100% wrong” thinking by investors is generally dangerous and destructive.
     
  • The gold revaluation issue has been twisted, thru lack of understanding, into the “gold confiscation” issue. With one camp of investors and analysts “heading for the hills” and bashing the US govt, the US President, the US Central Bank, and the US Treasury as incompetent idiots or evil monsters. This camp believes there will be a confiscation.  ……..
     
  • The second camp are a combo of head in the sand investors and analysts and money managers who see confiscation as something that was “ancient history”. These are the same people who believed the stock market bull was “here to stay” in the 1990s. They label people who mention the word “confiscation” as Quacks and Weirdos.
     
  • If you read their work carefully, many of the money managers in the second camp made statements like “there won’t be anything but a mild recession” in very recent years. And failed to mention the derivatives issue in any serious way. Once the crisis hit fullblast, however, there they were in all their glory. Claiming to have predicted everything. Look closely. They got it all wrong. The facts are all there. And they are getting the revaluation issue all wrong now.
     
  • The gold revaluation issue is a serious issue. Ben Bernanke takes it seriously. So President Obama, by definition, is taking it very seriously. We’re only in the very early stages of this economic crisis, regardless of the damage to the stock and commodity markets. I repeat: revaluation is a US Treasury tool. Not a central bank tool. Revaluation is not brought out of the US Treasury toolbox until the Central Bank’s tools, rate cutting to zero, asset purchases with printed money, have been used extensively. The rate cut tool has been used fully. There is much more that can, and likely will, be done with the asset purchase tool. ……
     
  • Gold Revaluation is more than a possibility. It’s a freight train. And President Obama is the man who is going to be driving it. With both the US Treasury and the Central Bank on board. And those who have polarized themselves on both sides of the issue instead of looking at the reality are standing on the tracks. It won’t go well for them. You want to be on the train, not on the tracks. …..
     
  • The US govt cannot “juice up” the economy without a drastic cut in the value of the US dollar. If the citizens, and perhaps global citizens, respond to that cut by hoarding gold instead of spending cash on company products, there is no restart. There is a wipeout. …..
     
  • After the Gold Revaluation tool is used by the US Treasury, the gameball is handed back to the US Central Bank. And the nuclear weaponry is brought out of the tool box. The money printing tool.
     
  • The Fed will begin to print money at unprecedented rates. What you have seen to date is child’s play. Question: How can the Fed restart the economy if the printed money is taken and stuffed into gold?
     
• So what do you think? Confiscation, Revaluation?? All that glitters is Gold. Deflation (implying economic collapse) or hyperinflation, Gold will still shine. 
   
• See also :
   
  Massive US Dollar Devaluation Against Gold During 2009

end

Lindsey Williams – The Next 12 Months

• Lindsey Williams was an ordained Baptist minister for 28 years. He went to Alaska in 1971 as a missionary. The Trans-Alaska oil pipeline began its construction phase in 1974. Mr. Williams loved his country and was concerned with the spiritual welfare of the “pipeliners,”. He volunteered to serve as Chaplain on the pipeline, with the subsequent full support of the Alyeska Pipeline Company. The company accorded him executive status and he was given access to the information that is mentioned in this video.
   
• What Lindsey Williams learnt during those years amazed him. He had access to the global elite and their plans for the world. There is a secretive global ruling class, an “elite”, that gives orders to governments of the world. Government officials are mere puppets taking orders from these elites.
   
• In this video Lindsey gives insight into what the elites are planning for the world in the next 12 months. It includes commentaries on : oil prices, collapse of the ME oil countries, collapse of the USD, hyperinflation, the fall of America….. etc.
   
• Does the Satanic-Illuminati cabal rule the world?? Draw your own conclusions.

end

Bailing Out Banks Again !

• For those of us who have glimpsed into the derivatives that the top banks in America hold, we know that what Jim Rogers said is true: the top banks in America are bankrupt !
   
• We have already gone thru 1 round of bailout last year for these banks. They seem to be using the bailout money for acquiring other banks or paying executive bonuses. Bank of America last year was touted as quite a strong bank. It even acquired Merrill Lynch. And what do you know? It is asking for bailout to help it absorb Merrill Lynch.
   
• What wonderful Banksters we have. They make mistakes that collapses the entire economy and they get rewarded for their incompetence. Of course some idiots have to foot the bill. We are that some idiots ! What wonderful government we have !?
   
• Do not think for a moment that the 2nd bailout will work. It will not! The derivatives problem is : US$512 Trillion. Just 10% of these derivatives go boom it is already US$50 T. The US economy is about US$13 T. So there will likely be 3rd, 4th…. bailouts.
   
• Barry Ritholtz says in The Big Picture :
   
  “The United States of Wall Street just added another major holding to its portfolio of financial garbage: Bank of America. “Like Citi, B of A has now received MORE IN BAILOUT MONEY than its actually worth (BAC = $53B; C = $21B). How this can ever be a profitable investment, as some mathematically challenged Congress-critters have suggested, is all but impossible to imagine.
   
  “Blaming ‘previously undisclosed losses from its Merrill Lynch’, B of A threatened to kill their purchase of Mother Merrill. Treasury made an emergency capital injection of $20 billion, on top of the $15B and $10B already received by B of A and MER respectively. The taxpayers will also backstop $118 billion of assets, setting up what is likely to be a jumbo money losing trade.
   
  “What should have happened in both instances was an orderly liquidation, selling off the pieces to competent managers who understand risk, and can manage smaller portions of the firm. Instead, the same idiots who helped destroy all of companies involved are still running the show.
   
  “The amazingly bad Bank of America plan mirrors an even worse bad deal made by the Feds with Citigroup in November. There, the taxpayers explicitly insured the bank against losses on 90% of $306 billion of toxic assets – Citigroup’s real-estate loans and securities.
   
  Like Citi, the B of A monies are a terrible deal for the taxpayer – not a lot of bang for the buck, and leaving the same people who created the mess in charge.
   
  “Organ transplant medicine understands certain truths: You do not give a healthy liver to a raging alcoholic, as they will only destroy the organ via their disease/bad judgment/lifestyle.
   
  “Why do we give billions of taxpayer dollars to incompetent managers who failed to protect their assets, who destroyed shareholder value? These people have demonstrated a marked INABILITY to run these firms. Why reward them with 10s of billions of dollars? “Its nothing short of madness …” 
     
• UK banks are also insolvent. Banks get £1trillion bailout… but RBSshares still plunge 70% in fresh City bloodbath :
   
  In another day of frenzied activity the Government hurled public cash at the industry in a determined attempt to get it lending again. Developments included:

  ● A Treasury scheme to offer Government insurance for up to £260billion in worthless ‘toxic assets’ held by the banks;

  ● A £100billion guarantee for mortgages to encourage banks to lend to homebuyers;

  ● A £50billion Bank of England scheme to buy assets of private firms and financial institutions to inject cash into the economy;

  ● A European Commission forecast that the economy will shrink dramatically this year by 2.8 per cent and Government debt will soar to 72 per cent of output in 2010;  ……..  
   
  Despite Mr Brown’s announcement of his latest rescue plan almost all banks traded sharply lower on the markets. Crucially, the Prime Minister stopped short of putting a figure on his scheme, drawing Tory claims that he has written a ‘blank cheque’ that leaves the taxpayer dangerously exposed.

• Have you ever wondered why governments are at the peck and call of banksters? The illuminati banking cartel owns the government. The secret cabal that rules the world.

end

China, Taiwan, Korea’s Exports Tumble

• All the Asian exporting economies are feeling the deep bite of the global depression. The figures all say same thing : economy is facing catastrophe.
   
• Brad Setser says in Global Depression. This Doesn’t Look Good: Taiwan, Korea and China Exports Tank :
   
  a) The trajectory of this downturn looks much worse than the trajectory of the 2000 recession. That isn’t news. But it is still worth noting. Korea and Taiwan export a lot of electronics, so they were among the hardest hit by the tech bust.
   
  b) It is striking that neither Taiwan nor Korean exports seem to have been impacted by the (modest) slowdown in US imports that started in 2006. They made up for slower export growth to the US – counting both their direct exports to the US and their indirect exports through China – with strong growth in their exports to Europe, China and the Gulf. Y/y export growth rates for Taiwan and Korea were actually up a bit earlier this year, during the peak of “decoupling.” No more …  
   
  

These look a lot like charts of financial variables after a bubble bursts, not charts of the level of exports. That isn’t good.

• All the Asian Economic Tigers (Singapore, Hong Kong, Taiwan and South Korea) have very much lower debt level as compared to Anglo Saxon economies. So they can stimulate domestic demand by fiscal policies. But I very much doubt that it will replace export demand contraction entirely. The domestic market is way too small to do so.
   
• China’s contraction is down right scary also. Let’s hope their US$ 600B stimulus package will arrest the contraction quickly. I have my doubts though. The rapidity of the collapse is catching all Asian governments off guard.

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History of Zionism – Ethnic Cleansing of Palestine !

• Ilan Pappe, born in Haifa in 1954 is currently a Chair in the Department of History, the University of Exeter and a co-director of the Exeter Center for Ethno-Political Studies. He was the academic head and founder of the Institute for Peace studies in Givat Haviva Israel (1992-2000) and the Chair of the Emil Touma Institute for Palestinian Studies in Haifa (2000-2008).
   
• Pappe is a both a professional historian and a human rights’ activist who believes that commitment and professionalism do not necessarily clash, but rather reinforce each other. He wrote extensively on the 1948 Nakbah and is regarded as one of Israel ‘new historians’ who challenged the official Zionist version of events.
   
• (by Stephen Lendman) Pappe has also authored, contributed to or edited nine books. His latest is the one this review covers in detail so readers will know about its powerful and shocking content, unknown to most in the West and in Israel, that hopefully will arouse them enough to get the book and learn in full detail what Pappe documented. He proves from official records how the Israeli state came into being with blood on its hands from lands forcibly seized from its Palestinian inhabitants who’d lived on it for hundreds of years previously. Since the 1940s, they were ethnically cleansed and slaughtered without mercy so their homeland would become one for Jews alone.
   
• The shameful result is that Palestinians then and today have almost no rights including being able to live in peace and security on their own land in their own state that no longer exists. Survivors then and their offspring either live in Israel as unwanted Arab citizens with few rights or in the Occupied Palestinians Territories (OPT) where their lives are suspended in limbo in an occupied country in which they’re subjected to daily institutionalized and codified racism and persecution.
   
• They have no power over their daily lives and live in a constant state of fear with good reason. They face economic strangulation; collective punishment for any reason; loss of free movement; enclosures by separation walls, electric fences and border closings; regular curfews, roadblocks, checkpoints, loss of their homes by bulldozings and crops and orchards by wanton destruction and seizure; arrest without cause, and routine subjection to torture while in custody.
   
• They’re targeted for extra-judicial assassination and indiscriminate killing; taxed punitively and denied basic services essential to life and well-being including health care, education, employment and even enough food and water at the whim of Israeli authorities in a deliberate effort to destroy their will to resist and eliminate those who won’t by expulsion or extermination. Palestinians have no power to end these appalling abuses and crimes against humanity or receive any redress for them in Israeli, the West or through the International Criminal Court Israel ignores when it rules against its interests.
   
• How can they (survive) as Muslims in a racist Jewish state where Israelis oppress them with impunity, the US goes along with huge financing and supplying of the most modern and destructive weapons of war, and the West and most Arab states are indifferent preferring to ally with Israel and the US for benefits received while writing off Palestinians as a small price worth paying.
   
• It created state of appalling human misery and desperation severely aggravated by crushing economic sanctions for the past year imposed for the first time ever on an occupied people. They’re responsible for poverty and unemployment levels of 80% or more and increasing instances of starvation and unreported deaths from all causes because Israel controls everything and everyone allowed in and out of the territories. Those inside them suffer painfully as a result. Others with power to help, don’t care and do nothing. (continues here by Stephen Lendman)

end

We will not be silent on Gaza!

by International Jewish Anti-Zionist Network (IJAN)
 

We stand with the majority.
We will not be silent on Gaza.
 

We write with grief and rage as we watch the horrifying Israeli air and ground attacks on Gaza. As Jews committed to ending Zionism, the founding ideology of Israel, and all forms of colonialism, we stand in solidarity with the Palestinian people, who continue to struggle in the face of these attacks, much as they have against more than 60 years of ethnic cleansing and racism. As Joseph Massad recently wrote, Gaza is in uprising against genocide, and is receiving today the same indifference from the capitals of the West that the rebels in the Warsaw Ghetto received in 1943.
 
We stand with the hundreds of thousands who have taken the streets in solidarity with Gaza’s resistance. We stand with all those who struggle against racism, dispossession and genocide.

We stand with the majority. We will not be silent on Gaza.

We reject Israel’s pretense to act in response to rocket attacks on Israel by Hamas. Israel broke the ceasefire on November 4, 2008, while world attention was focused on U.S. elections.

What the Israeli government calls “security” is fundamentally opposed to the real safety of all people living in the region. Residents of Sderot and other towns bordering Gaza have begged the government of Israel to maintain the cease-fire and accused it of “wasting that period of calm, instead of using it to advance understanding and begin negotiations.” With United States, European Union, and Egyptian collusion, Israel imposed on Gaza a siege and blockade for over two years, intentionally preventing its economic recovery, degrading its civilian infrastructure, attempting to dismantle self-governance, and preventing travel and obstructing humanitarian aid. That siege, which was and continues to be a gross violation of human rights and a crime against humanity, led directly to the present escalation. As of today, Israeli forces have killed over 700 people and injured thousands. Israel has bombed mosques, universities, police headquarters, roads, office buildings, and residential neighborhoods, and schools, causing indescribable and horrible destruction. This isn’t defense. This isn’t a war between two sides. This is terrorism. This is genocide.

We stand with the majority. We will not be silent on Gaza.

As Jews, we have an additional responsibility to speak and to act against these despicable acts, because we are heirs to the victims of a genocide, because Israel is claiming to “defend” us through the ethnic cleansing of Palestine with the ultimate goal of erasing the Palestinian people, and also because of the role played by the Jewish organizations in the United States and the West in justifying, perpetrating, and escalating Israeli state terrorism against Palestinians.

We recall that the violence in Gaza today is the inevitable outcome—the latest link in a chain of terror—that results from an ideology based on the dispossession of the indigenous people of Palestine in favor of European Jews. Just as the ideology of White racism was the backbone of Apartheid in South Africa, so the ideology of Zionism explains the history of violence in Palestine, the ethnic cleansing of 1948, the occupation of the West bank and Gaza in 1967, and the many massacres that Israel perpetrated periodically since 1948 to the present one in Gaza. The maintenance of the Israeli state as a state founded on and perpetuating Jewish privilege requires the denial and attempted annihilation of the Palestinian people.

We recall that unless this ideology is delegitimized and defeated, the violence in the Middle East will continue to escalate until either Palestinian or Jewish existence in the area ends, and possibly both. Racism and colonial domination will never be the basis for peace.

We stand with the majority. We will not be silent on Gaza.

We insist on an immediate end to Israel’s assault, a complete withdrawal of all Israeli forces, a complete and unconditional end to the siege, and the restoration and extension of the ceasefire. We insist on the establishment of a special international tribunal for investigating the crimes of the Israeli leadership of this siege.

We affirm the urgent need for Jewish resistance to Zionism and stand committed to the extrication of Jewish history, politics, community, and culture from the grip of Zionism.

We situate our work in a long legacy of Jewish people throughout history who have stood in solidarity with others in common struggles against all forms of racism, empire building, and repression. As a growing sector of the Palestine solidarity movement, we call upon all Jews of conscience to take a strong stand against the current escalation of violence, as well as the murderous ground upon which Zionist ideology and the Israeli state has been constructed. We call on Jews to put an end to complicity, to break the silence, and to confront the fallacy of a Zionist consensus. We call on anti-Zionist Jews around the world to organize in escalation against the massacres on Gaza, and to continue to support Palestinian resistance through campaigns of Boycott, Divestment, and Sanctions, and through actions that target their own governments’ financial and political support for Israel.

We stand with the majority. We will not be silent on Gaza.
 
WE call on you to JOIN US in continued ACTION!
 
Continues here :
 
http://www.globalresearch.ca/index.php?context=va&aid=11880

Oh God, oh my God, my daughters have been killed. They’ve killed my children!

LA Time report

• It was a voice of anguish that pierced a nation.
   
• Israeli TV broadcast a father’s heartbreak Friday night when a Palestinian doctor living in Gaza made a frantic phone call to a newscaster saying an Israeli tank had shelled his home, killing three of his daughters and injuring other family members.Sitting at his news desk for one of Israel’s main evening news broadcasts, Eldar held his phone up.
   
• For three minutes and 26 seconds, Aboul Aish’s wailing was broadcast across the country.Even so, across Israel the doctor’s anguished voice kept playing over and over.
   
• Izz el-Deen Aboul Aish, who speaks Hebrew, worked as a gynecologist in an Israeli hospital. Even as the crossings between the Gaza Strip and Israel had largely been closed in recent months, he had traveled frequently from one place to the other. But he had remained in Gaza since the Israeli offensive began 21 days ago. He gave frequent interviews to the Israeli media on living conditions in the seaside enclave. He spoke of having tanks around his house and of passing through checkpoints; he told Israelis what it was like to be Palestinian.
   
• Minutes away from a scheduled phone interview on Israeli TV 10 with newscaster Shlomi Eldar, Aboul Aish called Eldar’s cellphone, screaming and weeping in Arabic and Hebrew. The doctor’s home had been struck by a shell:”Oh God, oh my God, my daughters have been killed. They’ve killed my children. . . . Could somebody please come to us?”
   
• Eldar welled up. He put his head down. He looked at the camera. He looked at his phone. He made pleas for help for the family, but the doctor kept crying, his voice scratchy, like sand on paper, until Eldar took out his earpiece and walked off the set to try to arrange for help. The newscaster’s bewildered face seemed to capture a bit of pause in a nation that has largely supported its military campaign and prefers not to question its course.
   
• News reports said there had been shooting in the area of the doctor’s house before the shelling. The Israeli military had no immediate comment.
   
• Israeli officials permitted ambulances carrying members of the doctor’s family to cross the border to a hospital. Aboul Aish was a single father. His wife had died of cancer. He made his daughters sleep close to the walls of their home in hopes that would keep them safe if airstrikes or artillery collapsed the ceiling.
   
• “I don’t know how this man will stand on his feet again after this tragedy,” Dr. Liat Lerner-Geya, an Israeli who worked with Aboul Aish, told the Hebrew-language news website Ynet. “He would come to Israel and sleep at friends’ houses for three nights. Even though he had all the necessary permits, they always gave him trouble at the crossings. But he believed there should be coexistence and practiced this in his work.”
   
• After the newscast, Eldar met with reporters. He said the doctor told him that evening “that since his wife’s passing, the girls had been his entire life. He said his eldest daughter wanted to study at Haifa University. Just today another one of his daughters had told him she had gotten her period. ‘In the middle of a war you get your period. You are a woman now.’ “
   
• She and her sisters are dead. The news spread across Israel’s websites; the video of the doctor’s broadcast  quickly made it to YouTube.
   
• Eldar said of Aboul Aish: “It is simply surreal. He is part of this place yet not of it, belonging and not belonging.”
   
  jeffrey.fleishman@latimes.com 

My comments

• Are you happy now Israel ?? Are these terrorists?? Terrorists were hiding in their home right ?? My Ass ! When are you going to stop this genocide and all these Zionist propaganda and lies ? When are you going to remember the commandments by the G__d of Israel ??
   
  Exodus 22:21
  “You shall neither mistreat a stranger nor oppress him, for you were strangers in the land of Egypt.”
   
  Exodus 23:9
  “Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt.”
   
  Leviticus 19:34
  The stranger who dwells among you shall be to you as one born among you, and you shall love him as yourself; for you were strangers in the land of Egypt: I am the LORD your G_d.
   
  Deuteronomy 10:19
  Therefore love the stranger, for you were strangers in the land of Egypt.
   
• Either you choose to be behave like G-D ‘s children. Or :
   
  John 8:44
  44 You are of your father the devil, and the desires of your father you want to do. He was a murderer from the beginning, and does not stand in the truth, because there is no truth in him. When he speaks a lie, he speaks from his own resources, for he is a liar and the father of it.
   
• G-D judge between you and the Palestinian people!

end

Depression Ahead – Global Economic Demand Collapse

• Societe Generale is warning clients that US could be facing a depression soon and the Chinese economy could implode! Reuters reports in Depression ahead, prepare for stock rout-SocGen :
   
  In a highly bearish note, veteran cross asset strategist Albert Edwards said investors should now cut equity exposure after a turn-of-the-year rally and prepare for a rout. He predicted that the S&P 500 index of U.S. stocks could be set for a fall of nearly 70 percent from recent levels.
   
  Edwards also raised the danger of a global trade war with China. “While economic data in developed economies increasingly reflects depression rather than a deep recession, the real surprise in 2009 may lie elsewhere,” Edwards wrote.
   
  “It is becoming clear that the Chinese economy is imploding and this raises the possibility of regime change. To prevent this, the authorities would likely devalue the yuan. A subsequent trade war could see a re-run of the Great Depression.”  …..
    …..
  “We believe that the market is (now) set to quickly slide sharply towards our 500 target for the S&P,” he said. 
   
• I am in agreement of a 500 level for the S&P 500. There is a chance that it will head towards 330 level. This means stock prices can collapse another 45%. The trigger for the collapse will likely catch everyone by surprise. Much like in Oct last year. It does not mean that there cannot be a bear rally. But that I believe the current bear rally is coming to an end. February and March 2009 does not look like good months for stocks.
   
• Of greater interest to me is the real economy. The conventional wisdom is that stock market is a forward looking indicator. It does not appear to be so. Stock prices are still too high. The real economy is indicating depression. But MSM is still putting a delusional optimistic twist to economic data.
   
• Here is what Christopher Laird has to say in Global Economic Demand Collapse, Bonds Next :
    
  Anyone following the economic news in recent months has to be stunned at the declining economic activity. Japan had a 16% drop in machine orders for November. US car sales down 30 to 40%. Even world car leader Toyota has sales down 20 to 30%. Worldwide car sales are way down too, anywhere from 10 to 20% depending on which area. 
    ……
  The EU region is seeing marked declines in orders and exports. Japan had a stunning 15 to 17 % drop in exports from the previous year. China had over 100,000 factories close by end of 08. The list is endless. 
     ……  
  Even China is said to see possible flat growth in 09, something that they consider akin to Armageddon, as they need 15 million new jobs each year just to stay even with population growth. 
   
• The experiment of massive government bailouts and fiscal stimulation have so far proved a failure. Christopher Laird again :
     
  The only hope for the world’s governments to escape massive new indebtedness is for the Western economy to recover soon. Otherwise the US and other Western central banks will start buying everything in sight, and in fact already are. The US Fed stated already it’s beginning quantitative easing, which essentially buying any and everything to shore up markets and keep interest rates down. Japan’s BOJ just stated they intend to buy corporate bonds and if necessary even stocks directly – another example of quantitative easing. Will new US and European and Japanese and (Chinese too!) efforts to stimulate and reverse collapsing demand do the trick? CNBC and all the optimists aside? No. How can the US government replace the economy? If the US economy is $14 trillion a year in size, and we see a 10% drop in GDP, something that looks likely already, and Japan with the same situation, and the EU and also China, all facing GDP declines on the order of the teens percent, there is NO way governments can stimulate enough to replace that. The only outcome would be massive new public debt. Then the US and every other major economy ends up with public debt to GDP ratios of 300% like Japan has now. It (reflation) can’t work. 
     
• The increasing amount of sovereign debt will put extreme stress on the bond market. More talk of selective debt defaults, credit default swaps stress… Ultimately, it will result in currency stress. Christopher Laird again :
   
  In any case, we are on a currency watch for the Yen, Euro, USD and others. We are looking for signs the bond markets are going to rebel, (not quite there yet but close). When that happens, the major currencies are going to go through hell. 
   
• A monetary collapse in 2009? Who knows ? I won’t bet against it though. Gold will do well when investors flee bonds and currencies.

 end

GEAB : Systemic Economic Crisis: The Sequence of Global Insolvency Begins

• This financial crisis is unlike others in past recessions. It is a crisis not of liquidity but of insolvency. The EU, North America and Japan is largely bankrupt. Anglo Saxon economies are bankrupt at many levels : national bankruptcy, corporate bankruptcy…. to individual bankruptcy. I am not saying that everyone is bankrupt, I am saying that a significant portion is. And the effect is such that economy has plunged headlong into depression.
   
• When a corporation is bankrupt and their business model is no longer profitable, it does not make sense to bail them out. The old saying of : throwing good money after bad holds true. Unfortunately, most Western governments have opted to do just that. Did the earlier bailout of banks in America worked?? Why is Bank of America asking for more money now? Why is CitiGroup toppling? Many have commented that this bailing out of the financial sector is a black hole. I agree !
   
• Central Banks, like the FedRes, have been flooding the market with money via monetary policies: low interest rates. And has gone into Quantitative Easing ( Just another way of saying printing money out of thin air). Is this working? Apparently not. Economy has gone into an alarming dive worldwide. The velocity of money in America has become less than 1.0 . This is terrifyingly alarming! No exaggeration.
   
• The problem has never been liquidity which all these actions taken are trying to address. The problem is insolvency! Will you, should you lend money to a corporation or individual that is bankrupt? Common business sense say No ! But governments think that they should. The point in time is coming when governments will realize the futility of it all and abandon such corporations. Too much liquidity, too easy money, too lax lending policies are the causes of the meltdown. But governments still believe more of the same will work. Wake up time is coming !
   
• GEAB in its latest forecast/analysis Phase IV of the systemic crisis: The sequence of global insolvency begins says :
   
  Contrary to what political leaders and their central bankers seem to believe worldwide, the problem of liquidity that they are striving to solve by means of historic interest rate drops and unlimited money creation, is not a cause but a consequence of the current crisis. It is in fact a problem of solvency which is digging « black holes » where liquidities disappear, whether we call these holes bank balance sheets (1), household debt (2), corporate bankruptcies or public deficits. In consideration of the fact that a conservative estimation of these “ghost-assets” reaches already USD 30,000-billion (3), our team considers that the world is now facing a situation of general insolvency affecting in the first place the most indebted countries and organizations (public or private) and/or those depending most on financial services.
  
   
  

  US daily bankruptcy filings (01/'2006' – 11/'2008') - Source: CreditSlips, 01/2009

According to LEAP/E2020, this simple example illustrates perfectly the situation prevailing today throughout the entire global financial system, a large part of the world economy and all the economic players (including States) who based their growth on debt in the past years. The crisis translates and magnifies a problem of global insolvency. The world is becoming aware of the fact that it is a lot poorer than it used to believe in the last decade. And 2009 is the year when all the economic players must try to assess their real level of solvency, knowing that many assets are still losing value. Moreover a growing number of investors no longer trust the traditional instruments and indicators of measurement. Quoting agencies have lost all credibility. The US Dollar is just a fiction of international monetary unit and many countries are striving to get away from it as quickly as possible (6). Thus, quite rightly, the entire financial sphere is suspected of being a giant black hole. Concerning companies, no one can tell if their order books are reliable (7) because in every sector customers cancel their orders or just stop buying, even when prices are discounted, as indicated by dropping retail sales in the past few weeks (9). Concerning States (and municipalities), slumping fiscal revenues are likely to result in even higher deficits and then bankruptcies. As a matter of fact, Russian billionaires (10), Gulf oil-monarchies, Chinese commercial Eldorados (11), all the « golden-egg geese » of companies and financial institutions of the planet (namely European, Japanese and North-American ones (12)) turn out to be insolvent or hardly solvent. The question of the solvency of the US federal State and federated states (13) (as well as of Russia or the United-Kingdom) is beginning to be asked by some big international media; as well as the question of the solvency of large capital-based pension funds, major players in this past twenty years’ globalised economy.

• So what are the consequences as governments worldwide realized they are bankrupt? Fiat currency will be under threat. Starting with USD, British Pound….. and so on. Stock markets will collapse because most of the blue chip companies are bankrupt. Banks will collapse. Deflation will turn to hyperinflation. Gold should soar.

end

UK Jewish MP – Israel Behaving Like Nazis

• Sir Gerald Kaufmann was brought up as an orthodox Jew and Zionist. He has known many Israeli Prime Ministers and also known Palestinian leaders for many years.
   
• He said: “My grandmother was ill in bed when the Nazis came to her home town. A German soldier shot her dead in her bed. “My grandmother did not die to provide cover for Israeli soldiers murdering Palestinian grandmothers in Gaza.
   
• The present Israeli government ruthlessly and cynically exploits the continuing guilt amongst gentiles over the slaughter of Jews in the Holocaust as justification for their murder of Palestinians.”
   
• “Israel was born out of Jewish Terrorism” Tzipi Livni’s father was a Terrorist” Astonishing claims in the House of Parliament. SIR Gerald Kaufman, the veteran Labour MP, yesterday compared the actions of Israeli troops in Gaza to the Nazis who forced his family to flee Poland.
   
• During a Commons debate on the fighting in Gaza, he urged the government to impose an arms embargo on Israel.
     
• He said the claim that many of the Palestinian victims were militants “was the reply of the Nazi” and added: “I suppose the Jews fighting for their lives in the Warsaw ghetto could have been dismissed as militants.”
     
• He accused the Israeli government of seeking “conquest” and added: “They are not simply war criminals, they are fools.”
   
• Time to hear the truth. What this Jew say is true ! Why would a Jew attack Israel ? Because it is the right thing to do. Murder and genocide can never be justified by any race or any country.
     
• Zionism is the cause of the problem. It has nothing to do with religion. Zionism promotes hate and fear. Zionism says Palestinians are mere goyim and ‘dispensable’, only Israelis matter. Utter nonsense !
    
• Why any Jew would behave like the Nazis that killed their parents in the Holocaust is beyond me. Israel’s conscience is seared by a hot iron it seems. Time to wake up Israel ! G_d will hold you accountable for all you do in Gaza.
   
• See also :
   
  Protests Against Gaza Massacre by Anti Zionist Jews
  Zionism is the Cause of the Problems - Rabbi  

 

end

Comedy on Financial Meltdown

• Hilarious comedy on the financial crisis.

end