Socio-Economics History Blog

Socio-Economics & History Commentary

Gold is Up Sharply After Whistleblower Andrew Maguire’s Revelation on Gold Price Suppression! 100:1 Naked Shorting!

Gold is up sharply after Andrew Maguire's revelations during the CFTC meeting!

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April 9, 2010 Posted by | Economics | | 1 Comment

Jim Rickards: Debt Denial ! A Gold Price of $5,500/ounce Will Maintain Confidence in the US Sovereign Debt!

  • Eventually, gold price will need to be revalued very much higher. Assuming that the 8,133 tonnes of gold is still intact in America, a much higher gold price can make America solvent. By simply declaring that their physical gold is worth say US$12.68T (the current national debt), America will immediately be solvent. Of course, the price of gold will have to be revalued upwards of 40x ie about US$40,000/ounce. Is this crazy? Not at all. It has been done by Roosevelt in the past, revaluing from $20 to $35/ounce! Jim Rickards writes:
      
    The sovereign debt crisis has crossed a threshold. It’s no longer about economics. It’s about math and a complex system whose dynamics tell us there is little time to avoid catastrophe and almost no exit. Going forward, elections and policies will matter less as the debt plague takes hold and dictates hard outcomes.
     
    It is the case that real debt cannot be repaid through any feasible combination of growth and taxes. We will soon arrive at the point where it cannot be rolled over. Debt includes contingent liabilities as well as bonds. In the U.S., this means social security, healthcare and housing obligations estimated at over $60 trillion. That does not include unfunded pension obligations of the states whose plans use fanciful 8% growth assumptions to limit contributions. Pension debt grows exponentially; a toxic brew of increased benefits, contribution shortfalls and anemic performance.
     
    Even what we call money is debt. Paper money is a contract between citizen and government. As with any contract, it pays to read the fine print. Embossed on each U.S. bill is the phrase “Federal Reserve Note.” Give the Fed credit for full disclosure; these notes are liabilities. If the Fed’s mortgage assets were marked-to-market the Fed itself would be insolvent. In short, it’s all debt. Wealth is illusory if it involves a claim payable in dollars which are but a claim on an insolvent central bank backed only by its ability to print more debt. The situation is worse in the UK, Europe and Japan. The global financial system is a rope of sand.
     
    If this system is illusory, how has it prospered over centuries? The answer is that for many years governments ran surpluses and at times had no debt at all. Growth was robust providing support to the tax base. Governments had the trust of bond markets to rollover maturing obligations. With some fits and starts, tangible wealth creation outpaced debt creation. And until recently paper money was backed by gold at fixed rates of exchange. Today all four legs of the table – surpluses, growth, trust and gold are gone or damaged.
     
    There is no prospect for surpluses; nations hit the brink of disorder at the mere mention of 3% deficit-to-GDP ratios. Growth prospects are likewise dim given current policy. Obama grew spending on a feed-the-beast theory that forces taxes to rise to match spending. If Obama does not get his way, deficits will be ruinous. If he does get his way, taxes will stifle growth. You cannot tax your way to solvency in a world of low growth and compound interest.
      ….
    What about gold? The view is that systems on a gold standard system cannot increase money supply as needed; of course, that’s the whole idea. Increasing money beyond the modest levels at which gold supply grows is the Keynesian remedy. But empirical evidence shows the so-called Keynesian multiplier is fractional and therefore a wealth destroyer. Another attack on gold is that there’s not enough of it to support money supply; but of course there’s always enough gold; it’s just a question of price.
      
    The U.S. has never truly gone off the gold standard. The U.S. gold hoard today has a dollar value equal to about 20% of U.S. M1 money supply – a respectable ratio even in the heyday of the fractional gold standard. A gold price of $5,500 per ounce would comfortably support a broader U.S. money supply on a one-to-one ratio and maintain confidence in the dollar and U.S. sovereign debt.
     
    Is there an exit? One path involves hyperinflation to destroy the real value of debt followed by redenomination and a new paper money game. The other path involves a gold backed currency at a non-deflationary price. This is a choice between denial and frank talk. Sound money leads to sound growth and the creation of real, not illusory, wealth.

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April 9, 2010 Posted by | Economics | , , , , , , | Comments Off

Opium and the CIA: The CIA’s Historic Responsibility for Global Drug Trafficking! Banks and Drug Money Laundering!

Map of Afghanistan showing major poppy fields and intensity of conflict 2007-08

  • This is a very good article by Professor Peter Dale Scott. In it he highlights what many in the alternative media have been reporting for years. This article is pretty long but well worth the time. Excerpts:
      
    • the Afghan state of Hamid Karzai is a corrupt narco-state, to which Afghans are forced to pay bribes each year $2.5 billion, a quarter of the nation’s economy;
     
    • the Afghan economy is a narco-economy: in 2007 Afghanistan produced 8,200 tons of opium, a remarkable 53% of the country’s GDP and 93% of global heroin supply.
      ….
    The CIA’s Historic Responsibility for Global Drug Trafficking
    The first reality is that the extent of CIA involvement in and responsibility for the global drug traffic is a topic off limits for serious questioning in policy circles, electoral campaigns, and the mainstream media. Those who have challenged this taboo, like the journalist Gary Webb, have often seen their careers destroyed in consequence.
      ….
    CIA involvement in the drug trade hardly began with its involvement in the Soviet-Afghan war. To a certain degree, the CIA’s responsibility for the present dominant role of Afghanistan in the global heroin traffic merely replicated what had happened earlier in Burma, Thailand, and Laos between the late 1940s and the 1970s. These countries also only became factors in the international drug traffic as a result of CIA assistance (after the French, in the case of Laos) to what would otherwise have been only local traffickers.
       …..
    In this same period the CIA recruited assets along the smuggling routes of the Asian opium traffic as well, in countries such as Turkey, Lebanon, Italy, France, Cuba, Honduras, and Mexico. These assets have included government officials like Manuel Noriega of Panama or Vladimiro Montesinos of Peru, often senior figures in CIA-assisted police and intelligence services. But they have also included insurrectionary movements, ranging from the Contras in Nicaragua in the 1980s to (according to Robert Baer and Seymour Hersh) the al Qaeda-linked Jundallah, operating today in Iran and Baluchistan.    3
      …..
    Protection for Drug Trafficking in America
    Thus it is not surprising that the U.S. Government, following the lead of the CIA, has over the years become a protector of drug traffickers against criminal prosecution in this country. For example both the FBI and CIA intervened in 1981 to block the  indictment (on stolen car charges) of the drug-trafficking Mexican intelligence czar Miguel Nazar Haro, claiming that Nazar was “an essential repeat essential contact for CIA station in Mexico City,” on matters of “terrorism, intelligence, and counterintelligence.”14 When Associate Attorney General Lowell Jensen refused to proceed with Nazar’s indictment, the San Diego U.S. Attorney, William Kennedy, publicly exposed his intervention. For this he was promptly fired.    15
       …..
    Banks and Drug Money Laundering
    Other institutions with a direct stake in the international drug traffic include major banks, which make loans to countries like Colombia and Mexico knowing full well that drug flows will help underwrite those loans’ repayment. A number of our biggest banks, including Citibank, Bank of New York, and Bank of Boston, have been identified as money laundering conduits, yet never have faced penalties serious enough to change their behavior.22 In short, United States involvement in the international drug traffic links the CIA, major financial interests, and criminal interests in this country and abroad.
      ,,,,
    Conclusion: The Source of the Global Drug problem is not Kabul, but Washington
    I understand why McCoy, in his desire to change an ill-fated policy, is more decorous than I am in acknowledging the extent to which powerful American institutions—government, intelligence and finance—and not just the Karzai government, have been corrupted by the pervasive international drug traffic. But I believe that his tactfulness will prove counter-productive. The biggest source of the global drug problem is not in Kabul, but in Washington. To change this scandal will require the airing of facts which McCoy, in this essay, is reluctant to address.

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April 9, 2010 Posted by | GeoPolitics, Social Trends | , , | 1 Comment

Iraq War Vet: “We Were Told to Just Shoot People, and the Officers Would Take Care of Us”

  • I have hinted quite a few times that there is an unspoken policy of wanton killing and destruction in all these genocidal wars which American forces are engaged in. The purpose of these wars is not to bring peace. These wars are meant to continue forever to feed the military industrial complex and their bankster owners.
     
  • Peace will allow the nations (Iraq, Afghanistan…) to recover and kick US forces out. This will jeopardise the profits of the big industrial conglomerates and their Illuminati bankster owners. Think Big Oil, Halliburton, Xe mercenary army (BlackWater) and so on. Think the drug trade: Afghanistan supplies over 90% of opium worldwide. Who controls the drug trade? CIA and banksters. All these wars are orchestrated by the Illuminati shadow government who controls all major western currencies via their central banking cartel.
     
  • I ask all American soldiers to examine what you are doing in Iraq and Afghanistan. If America were to be bombed, decimated, annihilated.. the way American forces are doing to these countries, will you find it bearable? The United States constitution forbids war of aggression. Both the Iraq and Afghan wars are illegal. What did the people of these nations ever do to America? They are of no threat to America. The global war on terrorism is a lie. You are there to protect the oil wells, oil pipelines, drug trade.. and to facilitate the rape of these countries. My simple advice is to put down your weapons and go home.
     
  • The next stage in the Illuminist plan is the destruction of United States. War and chaos are coming to the shores of America. Already veterans are being branded as potential terrorists. As usual, a false flag operation will be carried out to start this and the Iran war. Do not be deceived, the real culprits, genocidal maniacs are the shadow Illuminati government back home!
     
  • TruthOut reports:
      
    On Monday, April 5, Wikileaks.org posted video footage from Iraq, taken from a US military Apache helicopter in July 2007 as soldiers aboard it killed 12 people and wounded two children. The dead included two employees of the Reuters news agency: photographer Namir Noor-Eldeen and driver Saeed Chmagh. The US military confirmed the authenticity of the video.
     
    The footage clearly shows an unprovoked slaughter, and is shocking to watch whilst listening to the casual conversation of the soldiers in the background. As disturbing as the video is, this type of behavior by US soldiers in Iraq is not uncommon. Truthout has spoken with several soldiers who shared equally horrific stories of the slaughtering of innocent Iraqis by US occupation forces.
     
    “I remember one woman walking by,” said Jason Washburn, a corporal in the US Marines who served three tours in Iraq. He told the audience at the Winter Soldier hearings that took place March 13-16, 2008, in Silver Spring, Maryland, “She was carrying a huge bag, and she looked like she was heading toward us, so we lit her up with the Mark 19, which is an automatic grenade launcher, and when the dust settled, we realized that the bag was full of groceries. She had been trying to bring us food and we blew her to pieces.”
     
    The hearings provided a platform for veterans from Iraq and Afghanistan to share the reality of their occupation experiences with the media in the US. Washburn testified on a panel that discussed the rules of engagement (ROE) in Iraq, and how lax they were, to the point of being virtually nonexistent.
     
    “During the course of my three tours, the rules of engagement changed a lot,” Washburn’s testimony continued, “The higher the threat the more viciously we were permitted and expected to respond. Something else we were encouraged to do, almost with a wink and nudge, was to carry ‘drop weapons’, or by my third tour, ‘drop shovels’. We would carry these weapons or shovels with us because if we accidentally shot a civilian, we could just toss the weapon on the body, and make them look like an insurgent.”
     
    Hart Viges, a member of the 82nd Airborne Division of the Army who served one year in Iraq, told of taking orders over the radio. “One time they said to fire on all taxicabs because the enemy was using them for transportation…. One of the snipers replied back, ‘Excuse me? Did I hear that right? Fire on all taxicabs?’ The lieutenant colonel responded, ‘You heard me, trooper, fire on all taxicabs.’ After that, the town lit up, with all the units firing on cars. This was my first experience with war, and that kind of set the tone for the rest of the deployment.”
     
    Vincent Emanuele, a Marine rifleman who spent a year in the al-Qaim area of Iraq near the Syrian border, told of emptying magazines of bullets into the city without identifying targets, running over corpses with Humvees and stopping to take “trophy” photos of bodies. “An act that took place quite often in Iraq was taking pot shots at cars that drove by,” he said, “This was not an isolated incident, and it took place for most of our eight-month deployment.”
     
    Kelly Dougherty – then executive director of Iraq Veterans Against the War – blamed the behavior of soldiers in Iraq on policies of the US government. “The abuses committed in the occupations, far from being the result of a ‘few bad apples’ misbehaving, are the result of our government’s Middle East policy, which is crafted in the highest spheres of US power,” she said.
     
    Michael Leduc, a corporal in the Marines who was part of the US attack on Fallujah in November 2004, said orders he received from his battalion JAG officer before entering the city were as follows: “You see an individual with a white flag and he does anything but approach you slowly and obey commands, assume it’s a trick and kill him.” Brian Casler, a corporal in the Marines, spoke of witnessing the prevalent dehumanizing outlook soldiers took toward Iraqis during the invasion of Iraq.
     
    “… on these convoys, I saw Marines defecate into MRE bags or urinate in bottles and throw them at children on the side of the road,” he stated.
     
    Scott Ewing, who served in Iraq from 2005-2006, admitted on one panel that units intentionally gave candy to Iraqi children for reasons other than “winning hearts and minds. “There was also another motive,” Ewing said. “If the kids were around our vehicles, the bad guys wouldn’t attack. We used the kids as human shields.”
     
    In response to the WikiLeaks video, the Pentagon, while not officially commenting on the video, announced that two Pentagon investigations cleared the air crew of any wrongdoing. A statement from the two probes said the air crew had acted appropriately and followed the ROE.
     
    Adam Kokesh served in Fallujah beginning in February 2004 for roughly one year. Speaking on a panel at the aforementioned hearings about the ROE, he held up the ROE card soldiers are issued in Iraq and said, “This card says, ‘Nothing on this card prevents you from using deadly force to defend yourself’.”
     
    Kokesh pointed out that “reasonable certainty” was the condition for using deadly force under the ROE, and this led to rampant civilian deaths. He discussed taking part in the April 2004 siege of Fallujah. During that attack, doctors at Fallujah General Hospital told Truthout there were 736 deaths, over 60 percent of which were civilians.
     
    “We changed the ROE more often than we changed our underwear,” Kokesh said, “At one point, we imposed a curfew on the city, and were told to fire at anything that moved in the dark.” Kokesh also testified that during two cease-fires in the midst of the siege, the military decided to let out as many women and children from the embattled city as possible, but this did not include most men.
     
    “For males, they had to be under 14 years of age,” he said, “So I had to go over there and turn men back, who had just been separated from their women and children. We thought we were being gracious.”
     
    …. to     continue reading click here!

Daniel 7:23 (New King James Version)
23 “Thus he said: 
 ‘ The fourth beast shall be
A fourth kingdom on earth,
Which shall be different from all other kingdoms,
And shall devour the whole earth,
Trample it and break it in pieces.

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April 9, 2010 Posted by | GeoPolitics | , , , | Comments Off

Alex Jones’ ‘Invisible Empire’ New World Order Defined Documentary. The Rise of The Mystery Babylon Whore, Fourth World Empire !

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April 9, 2010 Posted by | EndTimes, GeoPolitics, Social Trends | , | 1 Comment

   

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