Socio-Economics History Blog

Socio-Economics & History Commentary

JPMorgan Chase Deivatives Loss Estimate Now At US$6-7 Billion!

  • JPMorgan Chase loss only going to get worse! 
    By Maureen Farrell @CNNMoneyInvest 
    NEW YORK (CNNMoney)  — One thing seems clear about JPMorgan Chase’s $2 billion loss. It’s no longer $2 billion. It’s likely much higher. The number being bandied about now is closer to a range of $6 billion to $7 billion, according to several people working on trading desks that specialize in the derivatives JPMorgan Chase (JPM, Fortune 500) used to make its trades and from two sources with knowledge of the bank’s positions.
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    JPMorgan Chase declined to comment on its trading activities. Of course, it is impossible to know with absolute certainty just how high the losses are at any given moment. But experts said there are few scenarios in which hedge funds on the other side of the bank’s giant bet will let JPMorgan Chase out of it without significantly more pain.
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    “The market knows roughly what [JPMorgan] has and what the sizes are,” said a source with knowledge of the bank’s positions. Why have the losses grown since chief executive officer Jamie Dimon informed the public of them? The market’s overall slide hasn’t helped.
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    Since last Thursday, the U.S. and European stock markets have dropped significantly. The S&P 500 (SPX) is down roughly 3.5%, and the main European indexes are down between 4% and 6%.
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    JPMorgan Chase’s trades were built around contracts tied to corporate bonds. Specifically, JPMorgan Chase sold huge amounts of protection on an index of 125 highly rated corporate bonds. Simply put, JPMorgan Chase’s massive trade stood a better chance to pay off if the market had continued to rally.
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    read more!

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May 22, 2012 Posted by | Economics | , , , , , | Comments Off

Alex Jones: The Manufactured War on Terror!

“The ultimate goal that these people have in mind … is the goal to create a One World Government run by the banking industry .. run by the bankers! … The whole agenda is to create a One World Government where everybody has an RFID chip implanted !”
- Aaron Russo 0:15 onwards
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“He’s (Rockefeller) the one who told me 11 months before 9/11 ever happen, there was going to be an event. .. And out of that event we will invade Afghanistan, (for) the pipelines to the Caspian sea. We were going to invade Iraq .. to take over the oil fields, establish a base in the Middle East and make it all a part of the New World Order! And we will go after Chavez Venezuela. Sure enough 9/11 happened ! … And there was going to be this War on Terror which has no real enemy. And the whole thing is a giant HOAX! … This whole War on Terror is a FRAUD! ”
– Aaron Russo 2:30 onwards

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May 22, 2012 Posted by | GeoPolitics, Social Trends | , , , , , , , , , | Comments Off

Lyndon LaRouche Warns America: We’re in The Greatest Crisis of Our Time! Risk of Thermonuclear War With Russia!

“They are out to reduce the world’s population.. the British(Anglo-American Illuminati) has stated from the present level of 7 billion people to 1 (billion) at a rapid rate!” - Lyndon LaRouche 15:27 onwards 

May 22, 2012 Posted by | Economics, GeoPolitics, Social Trends | , , , , , , , , , , , , , , , , , , , , , , | Comments Off

Fritz Springmeier: Illuminati Targeting Youth with Sex And Violence!

May 22, 2012 Posted by | Social Trends | , , , | Comments Off

California as Broke as Greece?

May 22, 2012 Posted by | Economics | , , , , , , , | Comments Off

CrossTalk: Banking Mafia!

May 22, 2012 Posted by | Economics, Social Trends | , , , , , , | Comments Off

NATO War Machine Responsible for Global Violence!

May 22, 2012 Posted by | GeoPolitics | , , , , , , , , | Comments Off

Vicious Spiral of Decline: Germany Leads Europe into a Worse Crisis!

May 22, 2012 Posted by | Economics | , , , , , , , , | Comments Off

US Charity Secretly Funds Israeli Nukes!

  • US Charity Secretly Funds Israeli Nukes! 
    by , http://antiwar.com/ 
    Weizmann and NUMEC place US in violation of Nuclear Non-Proliferation Treaty
    Newly declassified FBI files are shining an inconvenient light on Israel’s nuclear weaponization research program and how it has been secretly funded from the United States. Iranian negotiations with the UN Security Council resume on May 23 in Baghdad following initial sessions in Istanbul. The core issue is whether Nuclear Non-Proliferation Treaty (NPT) signatory Iran will agree to abandon uranium enrichment and open its hardened facilities to more intrusive international inspections. Israel and its western lobbying organizations have long insisted — with little concrete proof — that Iran has a clandestine weaponization program. The American Israel Public Affairs Committee is diligently setting out legislative tripwires for mandatory US military attacks if Iran fails to abandon its program. Yet the brazen activities of the Weizmann Institute of Science now publicly documented by the FBI reveal violations of the core principle of the NPT. On April 24, 2012 the FBI released 159 pages detailing a secret 1992 counterespionage investigation into the Weizmann Institute of Science of Rehovot, Israel. The previously unreleased files detail not only how Israel’s nuclear fundraising and influence network has pushed the US out of compliance with the NPT, but also how the US government has continually missed opportunities to take timely and warranted law enforcement action.
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    In October of 1992 military personnel at the Yuma Proving Ground, which tests nearly every significant US ground combat weapons system, detected a University of Buffalo computer system user penetrating their secure computer network via New Mexico State University. A senior majoring in Chemical Engineering hacked the UB system to obtain high-level graduate student access codes. Soon after the BU hacking incident “computers from the Weizmann Institute for Science accessed computers from NM SU to penetrate computers at YPG” using the stolen access codes. FBI investigators suspected the BU student, arrested by Amherst Town police on October 8, 1992, passed the secret access codes to Weizmann.
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    In January of 1993 the FBI interviewed UB graduate students whose accounts had been misappropriated by the hacker. The FBI began to research the student’s connection to other hackers in Texas and Hawaii and his “possible contact/association with the Weizmann Institute of Rehovot, Israel.” Investigators also dialed up Lexis-Nexis for more background on Weizmann. Among their first hits was a 1972 New York Times article recording Soviet charges that Weizmann was nothing more than a front for Israeli nuclear weapons research. Interest piqued, the FBI amassed a lengthy public source file (PDF) on Weizmann.
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    They discovered that the Weizmann Institute launched operations at the close of WWII under the direction of Israeli nuclear research pioneer Ernst David Bergmann. It was named after famed chemist Chaim Weizmann, a Russian who immigrated to the UK and revolutionized the production of acetone needed for WWI gunpowder production. The Zionist activist lobbied and charmed Lord Balfour to win the creation of a Jewish state in Palestine and became Israel’s first president in 1949.
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    The FBI noted the Weizmann Institute had “’an American Committee for the Weizmann Institute’ which operates in the United States from New York City, Chicago, and possibly other metropolitan cities. The Committee engages in fund-raising, hosts lectures on topics of interest and engages in public relations on behalf of the Weizmann Institute.” The FBI Counter-Intelligence division, after reviewing the public and private records of its key officials and activities, submitted a frank written assessment. “CI-3B believes that the Weizmann Institute is an academic organization which conducts research in high-technology issue areas, including theoretical aspects of nuclear and conventional weapons development.”
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    read more!

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May 22, 2012 Posted by | GeoPolitics, History | , , , , | Comments Off

Lest We Forget: A Look Back at Israel’s “Break The Bones” Policy!

  • What Zionist ’666′ Israel do to the Palestinians are called: genocide and ethnic cleansing. It is immoral, illegal and in total violation of God’s law!
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    Lest We Forget–A look back at Israel’s “Break the Bones” Policy! 
    by http://theuglytruth.wordpress.com/
    Special to The New York Times, Published: July 12, 1990
    Israel’s Parliament decided today not to investigate charges that former Defense Minister Yitzhak Rabin ordered soldiers to break the bones of Arab militants at the beginning of the Palestinian uprising.
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    The house rejected a motion submitted by two Parliament members to set up a special commission to investigate whether Mr. Rabin had given soldiers orders to club, kick and hit arrested Palestinians as a form of punishment.
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    The proposal was prompted by testimony in recent courts-martial of several soldiers charged with beating Palestinians and breaking their bones. The soldiers have testified that they were simply following orders, and many Israelis have been saying they believe the men are being abandoned by the army’s top commanders.
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    Defense Minister Moshe Arens, Mr. Rabin’s successor, said he opposed the commission because he believed ”the political echelon has to account to the Knesset and the voters only during the elections.”
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    Mr. Rabin has steadfastly denied issuing ”an illegal order or one which went against the decision of the Government.” He did say, however, that soldiers were encouraged to subdue violent Palestinans with ”the use of clubs while trying as much as possible to avoid using live ammunition” at the beginning of the uprising.
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    The debate over Mr. Rabin’s role in the affair comes as the former defense minister is trying to wrest leadership of the Labor Party from his longtime rival, Shimon Peres.
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    A nationwide survey published in The Jerusalem Post today indicated that Mr. Rabin is more popular with Israelis than Prime Minister Yitzhak Shamir, Housing Minister Ariel Sharon, Mr. Peres or any other senior politician.
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    ‘Force, Might and Beatings’
    There is no indication that the controversy over the beatings has harmed Mr. Rabin politically. At the start of the uprising, Mr. Rabin attracted wide attention when he said that Israeli soldiers would use ”force, might and beatings” to quash the Palestinian revolt.
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    Mr. Rabin and senior military commanders have maintained that the beatings were allowed only while soldiers were trying to overpower and arrest Palestinians throwing rocks and firebombs. Once an arrest was made, they said, no further hitting or clubbing was permitted.
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    But his account has been contradicted by testimony at the trial of one officer, Col. Yehuda Meir, who is being court-martialed for reportedly ordering his troops to arrest Arabs and then break their arms and legs.
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    Soldiers testifying at Colonel Meir’s trial said Mr. Rabin and other senior commanders told them privately that beatings should be used to punish Arabs known to be troublemakers.
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    Lieut. Eldad Ben-Moshe, a company commander under Colonel Meir, testified in April that he was told by Colonel Meir to ”break the arms and legs” of Arabs ”because the detention camps are full.”
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    Early this month another officer, identified only as Lieut. Col. Zvi, testified that in January 1988, Mr. Rabin ”told me to lash into them forcefully and beat them,” without restricting the beatings in any way.
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    In Parliament today, Mr. Rabin said, ”To the best of my memory, I never once said anywhere that bones should be broken.” In calling for the Parliamentary investigation, Yossi Sarid, a legislator from the left-wing Citizens’ Rights Movement, said, ”The testimony from dozens of soldiers has made one thing clear: The soldiers and officers in the field heard the Defense Minister and top-ranking officers instruct them to beat Palestinians in a policy of punishment and deterrence.”

Revelation 2:9 – …. and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.

“ … it turns out the creation of Israel had not, after all, been a haphazard fight in which the Arabs fled their homes at the directives of their own leaders, but it had been an unprovoked, systematic campaign of ethnic cleansing by the Jewish militia involving massacres, terrorism and the wholesale looting of an entire nation.” - from 4:22 onwards

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May 22, 2012 Posted by | History, Social Trends | , , , , , , , | Comments Off

The Plan To Kick Greece Out of The Eurozone!

The Eurozone is on fire!

  • The Plan to Kick Greece Out of the Eurozone! 
    by MIKE WHITNEY, http://www.counterpunch.org/
    “Men and women of Greece, it is with a sense of dignity and patriotic duty, that we made the decision not to betray your hopes and aspirations…The pro-bailout parties did not simply want us to support a government that would impose more austerity, they wanted us to agree to measures that would increase poverty and desperation. We didn’t do them the favor.”
    – Alexis Tsipras, Chairman of the Radical Left Coalition (Syriza)
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    The endgame for Greece is now in sight. Attempts to form a unity government have failed and public opposition to austerity is growing. The uncertain political situation has triggered a bank run which drained nearly $900 million in deposits from Greek banks on Monday alone. Panicky Greeks are moving their money out of the country fearing that a default will collapse the banking system or that an unexpected return to the the Drachma will slash their life savings in half. Withdrawals are pushing yields on German bund to historic lows, signalling rising anxiety. Absent the European Central Bank’s Emergency Liquidity Assistance (ELA) program, the Greek banking system would have imploded already taking down creditors in Germany, England and France. But the ECB’s aid will not last forever nor is it unconditional. If the anti-austerity parties take power in Athens, the bailouts will stop, capital flight will accelerate, and the banking system will crash.
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    No one can say with certainty what the impact of a Greek default will be, but analysts estimate that the losses for financial institutions could be as high as 400 billion euros. That means the ECB may need to deploy emergency funds to backstop teetering banks that could be overwhelmed by the flood of red ink. If the central bank refuses to act as lender of last resort or to intervene with another round of bond purchases, matters will deteriorate quickly as debt-stricken countries slip deeper into crisis. What worries economists is that the Greek virus will spread to other countries that are already battered by high unemployment, negative growth, and rising yields on government debt. A default in Greece would send a message to investors that EZ policymakers are no longer committed to the euro-project. If that belief takes root, a euro-wide (capital) exodus will ensue increasing the chances of a breakup of the 17-member union. There are already signs that this process is underway as banks in both Spain and Italy have seen a steady uptick in withdrawals.
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    On Monday, German Chancellor Angela Merkel and newly-elected French President Francois Hollande promised to “consider measures to spur economic growth in Greece” provided that Greece continue to meet the terms of its bailout agreements. While Hollande tried to strike a more sympathetic tone than Merkel, he fully-backed her hardline policies saying that the austerity measures “must to be adhered to.”
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    read more!

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May 22, 2012 Posted by | Economics | , , , , , , , , , , , , , | Comments Off

Fears of Bank Runs Mount in Southern Europe!

  • Fears of Bank Runs Mount in Southern Europe! 
    By Stefan Kaiser, http://www.spiegel.de/ 
    Following the downgrade of 16 Spanish banks by Moody’s, the focus in the euro crisis is back on the banking sector. Greeks are withdrawing hundreds of millions from their accounts, with reports that the same is happening in Spain. Experts are calling on the European Central Bank to step in and prevent full-scale bank runs.
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    The final wake-up call came from Moody’s. On Thursday evening, the US rating agency downgraded 16 Spanish banks in one fell swoop, some of them by three notches. On Monday, the agency had already downgraded 26 Italian banks — including major institutions such as UniCredit and Intesa Sanpaolo. The outlook for all the institutions involved is negative, Moody’s said.
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    These are drastic steps, but they are hardly excessive. The European sovereign debt crisis long ago also became a banking crisis. The fate of the affected countries can not be separated from that of their financial institutions: If a state goes bankrupt, its banks too will struggle to survive. On the other hand, the examples of Ireland and Spain show that a shaky banking system can quickly overwhelm national budgets.
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    Moody’s justified its downgrades of Spanish banks with the argument that the ability of the government to support individual banks has worsened. On Friday, the Spanish central bank was also forced to admit that the proportion of bad loans on the books of Spanish banks has risen to an 18-year high. According to the central bank, the share of bad loans rose in March to 8.36 percent, compared to 8.15 percent in the previous month.
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    Clearing Out Accounts
    Reports began trickling in earlier this week that savers in Greece were withdrawing hundreds of millions of euros from their bank accounts — the German news agency DPA reported that almost €900 million was withdrawn just on Monday alone. Since then Europe has been seized by the fear of a worst-case scenario in Greek’s banking system: a so-called bank run, as customers who have lost confidence in their banks rush to take out their savings.
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    Such a run would be the final stage in the loss of confidence in the banks. For months now, wealthy individuals in crisis-hit countries have already been moving billions of euros abroad out of fears about the stability of the financial systems in their own countries. Until recently, however, there had been few signs of abnormal behavior in terms of ordinary savers withdrawing cash.
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    The reason a bank run is so feared is because it could land every bank in the world in trouble — even the healthiest ones. The banking system depends on the fact that banks only hold a small portion of customer deposits in cash that is ready to pay out. The rest is invested or passed on to other customers as loans.
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    Now, rumors are circulating that in Spain, too, people have begun to clear out their accounts at certain banks. The newspaper El Mundo reported that customers had withdrawn over €1 billion from the beleaguered major savings bank Bankia last week. The government in Madrid has denied the report, but the situation remains tense. On Friday, the Spanish newspaper Expansion reported that the US investment bank Goldman Sachs has now been tasked with providing an independent assessment of the problem bank.
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    ‘Very Hard to Stop’
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    read more!

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May 22, 2012 Posted by | Economics, Social Trends | , , , , , , , | Comments Off

Germany Isolated as Latin Bloc Calls The Shots!

It’s a question of when?

  • This coming global collapse will start in the PIIGS, spread to the rest of Europe, UK, Japan …. and finally America. The Illuminist banksters will QE to infinity to bail all their banks out but the global monetary system will collapse. It is all within their plan. The Illuminist banksters are using this crisis to centralize more power into their hands, for a greater political and fiscal union. They are selling the propaganda that the Illuminist ECB and FedRes are the solution to the world’s problems (when they are the cause).
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    Germany isolated as Latin Bloc calls the shots! 
    By , http://www.telegraph.co.uk/ 
    The eurozone’s ‘Latin Bloc’ is in full revolt. The trio of French, Italian, and Spanish leaders – backed by world powers – are to push for a radical shift in Europe’s economic strategy at crucial summit on Wednesday.
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    The package of measures includes an EMU-wide guarantee of bank deposits aimed at halting a slow bank run across southern Europe, as well as demands for full activation of the European Central Bank as a lender of last resort.
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    They will propose eurobonds to finance an infrastructure blitz, a sort of Marshall Plan to revive confidence even if long-term benefits will take years to feed through.
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    While the moves are couched in diplomatic language, the clear aim of French premier François Hollande, Italian premier Mario Monti, and Spanish premier Mariano Rajoy is to wrest control of the EU’s governing machinery from Germany.
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    Mr Monti said over the weekend that Mr Hollande’s “entry into the game” had changed Europe’s political dynamics. He has an ally “on the same wave-length”.
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    This is clear already in a spat over the next chief of the Eurogroup, the powerful club of EMU finance ministers. Mr Hollande is balking at the coronation of German finance minister Wolfgang Schaeuble. “It is a litmus test. Hollande is flexing his muscles, showing that he is willing block the man seen as Europe’s symbol of austerity,” said Mats Persson from Open Europe.
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    “The real battle is over the ECB. It is the only body that can act swiftly enough to underwrite the bond markets. But the crisis may have to get far worse before the Germans yield. It will take immediate contagion, far beyond Greece.”
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    Matt King, credit stategist at Citigroup, said Italian banks lost €160bn in deposits last year and Spanish banks lost €100bn, based on the ECB’s Target2 payments data. The pattern seen in Greece, Ireland, and Portugal — where deposits have together fallen 52pc — is that a haemorrhage is hard to halt once it begins. “Capital flight, is a self-reinforcing process. It will stop only once there is decisive policy intervention. The longer investors have to wait, the more decisive it will need to be,” he said
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    read more!

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May 22, 2012 Posted by | Economics | , , , , , , , , , , , , , | Comments Off

West Mulling Military Action Against Iran!

  • “All wars are based on deception!” – Sun Tzu, The Art of War
  • The talks between Iran and the west (+Russia & China), this week, on its peaceful civilian nuclear program will not be successful. The west is already initiating plans to make sure it fails. US Congress is already taking steps for war with Iran. The western Illuminist powers are lying their way to another illegal war of aggression. There are no evidence that Iran has nuclear weapons nor a nuclear weapons program. There are conclusive, abundant evidence that Zionist ’666′ Israel has hundreds of nuclear bombs and has attempted/offered nuclear bombs to apartheid South Africa in the past. Why are they not taking actions against Zionist ’666′ Israel, Pakistan and India; countries which have refused to sign the NPT and have nuclear bombs?
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  • The Illuminist plan is: global economic, financial and monetary collapse leading to the Satanic World War 3. The Greater Middle East war looks like it will be nuclear!
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    ‘West mulling military action against Iran’! 
    by http://www.nydailynews.com/ 
    Moscow, May 21 — Some Western countries are still considering a military operation against Iran as an option over its nuclear programme, a Russian minister said Sunday.
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    “Russia is concerned that the possibility to try to solve the Iranian nuclear problem by military means is still viewed as real,” Xinhua quoted Russian Deputy Foreign Minister Sergei Ryabkov as saying.
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    “We still hear messages from public and intelligence channels, which show that certain capitals regard this option as much more applicable to the situation (around Iran) than it was before,” he said upon his return from the G8 summit in the US.
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    Ryabkov warned such an operation against Iran will inevitably bring “negative effect for the security of many countries” and “dire consequences for the global economy”.
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    Taking note of the upcoming meeting between Iran and the six world powers, Russia, China, the US, Britain, France and Germany, in Baghdad May 23, he said “We need to make the results more specific in Baghdad”.
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    Leaders of the G8 said Saturday that they remain united in their “grave concern” over Iran’s disputed nuclear programme, while urging Tehran to address such concern without delay.
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    Iran has maintained that its nuclear programme is purely for peaceful purposes, but the US-led Western nations suspect that it is seeking to develop a nuclear weapon.

Stop the war!

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May 22, 2012 Posted by | GeoPolitics | , , , , , , , , , | Comments Off

United States Attempts To Trigger Sunni-Shi’ia Strategy of Tension!

Image: A bomb detonates in Syria, May 19, 2012, killing and maiming scores. This is the latest manifestation of overt US and Gulf State military support for terrorists attempting to destabilize and overthrow the Syrian government. The West has planned and prepared years in advance for implementing bloody regime change in Syria and Iran.

  • Why don’t you hear about this in the western MSM? Why is the United Nations silent on this? The UN is simply a department in the Anglo-American western Illuminati organization.
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    Attempts to trigger Sunni-Shi’ia strategy of tension! 
    by Tony Cartalucci, http://landdestroyer.blogspot.com/
    Saad Hariri Aides Western Syria Destabilization from Lebanon
    May 21, 2012 -The United Nations has been inexplicably silent over revelations that the United States, Saudi Arabia, and other “Gulf States,” are arming militants in Syria in direct violation of a UN brokered ceasefire. Additionally, the US has openly threatened to arm Kurd militants in Syria to “rise up” against the government. While in reality this constitutes a greater threat to neighboring Turkey, and perhaps an attempt to motivate Ankara to take a more aggressive stance against Syria, the threat of purposefully inciting more violence in a conflict that has allegedly claimed “10,000″ lives, seems not only grossly irresponsible, but a violation of international peace.
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    The West’s meddling in Syria does not end there. Recently, clashes have broken out in Lebanon, revealing a large base of operations supporting the destabilization in neighboring Syria, located along the Lebanese-Syrian border. The significance of this discovery, and extremist groups in Lebanon being directly involved, highlights the veracity of a 2007 New Yorker article by Seymour Hersh titled, “The Redirection,” which exposed a joint US-Israeli-Saudi operation to create a violent extremist front and direct it at Hezbollah in Lebanon, President Bashar al-Assad in Syria, and at the Iranian government.
    In the article, the fact that these extremist forces had direct ties to Al Qaeda was noted, including the fact that many of these militants either participated in fighting US troops in Iraq and Afghanistan, or were affiliated with groups that did:
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    “In 2005, according to a report by the U.S.-based International Crisis Group, Saad Hariri, the Sunni majority leader of the Lebanese parliament and the son of the slain former Prime Minister—Saad inherited more than four billion dollars after his father’s assassination—paid forty-eight thousand dollars in bail for four members of an Islamic militant group from Dinniyeh. The men had been arrested while trying to establish an Islamic mini-state in northern Lebanon. The Crisis Group noted that many of the militants “had trained in al-Qaeda camps in Afghanistan.”
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    According to the Crisis Group report, Saad Hariri later used his parliamentary majority to obtain amnesty for twenty-two of the Dinniyeh Islamists, as well as for seven militants suspected of plotting to bomb the Italian and Ukrainian embassies in Beirut, the previous year. (He also arranged a pardon for Samir Geagea, a Maronite Christian militia leader, who had been convicted of four political murders, including the assassination, in 1987, of Prime Minister Rashid Karami.) Hariri described his actions to reporters as humanitarian.
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    read more!

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May 22, 2012 Posted by | GeoPolitics | , , , , , , , , , , | Comments Off

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