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Socio-Economics & History Commentary

Germany’s Slump Risks ‘Explosive’ Mood as Second Banking Crisis Looms!

  • Germany, the economic dynamo of the Eurozone, is feeling the heat of this depression. The Telegraph UK reports :
     
    A clutch of political and labour leaders in Germany have raised the spectre of civil unrest after the country’s leading institutes forecast a 6pc contraction of gross domestic product this year, a slump reminiscent of 1931 and bad enough to drive unemployment to 4.7m by 2010. 
     
    Michael Sommer, leader of the DGB trade union federation, called the latest wave of sackings a “declaration of war” against Germany’s workers. “Social unrest can no longer be ruled out,” he said. 
      
    Gesine Swann, presidential candidate for the Social Democrats, said “the mood could turn explosive” over the next three months unless the government takes drastic action. 
      ….
    Swiss risk advisers Independent Credit View said a “second wave” of debt stress is likely to hit the UK and Europe this year as the turmoil moves from mortgage securities to old-fashioned bank loans. A detailed “stress test” of 17 lenders worldwide found that European banks have much lower reserve cushions than US banks, leaving them acutely vulnerable to the coming phase of rising defaults. “The biggest risk is in Europe,” said Peter Jeggli, Credit View’s founder. 
      …
    “The Americans are ahead of the curve. European banks are exposed to US commercial real estate and to problems in Eastern Europe and Spain, where the situation is turning dramatic. We think the Spanish savings banks are basically bust and will need a government bail-out,” said Mr Jeggli.
      …
    Europe’s banks are exposed to a hydra-headed set of bubbles. They not only face heavy losses from US property, they also face collapsing credit booms in their own backyard and fallout from high levels of corporate debt in the eurozone.
     
    Mr Jeggli said the financial crisis was “front-loaded” in the Anglo-Saxon countries and Switzerland because their banks invested heavily in credit securities. As tradeable instruments, these suffered a cliff-edge fall when trouble began, forcing harsh write-downs under mark-to-market rules.
     
    It takes longer for damage to surface with Europe’s traditional bank loans, which buckle later in the cycle as defaults rise. The ferocity of Europe’s recession leaves no doubt that losses will be huge this time.

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April 24, 2009 Posted by | Economics, GeoPolitics | , , , , , , , | 1 Comment

Crisis as a Means to Building a Global Totalitarian State!

  • What is the reason for this engineered economic meltdown? The shadow powers that rule the world uses a methodoloy called the Hegelian Dialectic: Action, Reaction -> Pre-Planned Solution.
     
  • By creating this crisis (Action), they hope to get their expected worldwide response (Reaction). And thereby drive the world to their Pre-Planned Solution. What many western politicians have been calling for: A New World Order, is rapidly appearing before our eyes. This is a 1 World Government, 1 World Central Bank, 1 World Currency, 1 World Police Fascist State… A Global Army…!
     
  • The majority of the world will fall into their trap. For the rest that don’t, they will be marginalized or outright attacked.. ie war. War comes in many forms: economic, financial, currency, political and of course physical war. We will see all of the examples in the near future. We are already in the midst of a financial war and monetary conflict!
     
  • Olga Chetverikova explains:
     
    As the world financial and economic crisis comes into its own, the Western political leaders and elites are seeking to impress on mankind the idea that this upheaval will end up ‘turning the world into something different’.
     
    Even though the picture of the ‘new world order’ remains vague and fuzzy, the main idea is quite clear: A single global government, goes the argument, has to be established if we don’t want general chaos to prevail.
     
    Every now and again, Western politicians mention the need for a ‘new world order’, a ‘new world financial architecture’, or some kind of ‘supranational control’, calling it a ‘New Deal’ for the world. Nicolas Sarkozy was the first to say so, while addressing the UN General Assembly in September 2007 (that is, before the crisis).
     
    During the February 2009 meeting in Berlin convened to prepare the G20 summit, this was echoed by Gordon Brown, who said that a worldwide New Deal was needed. We are conscious, he added, that where the world financial flows were concerned, we would not be able to emerge from this situation with the help of purely national authorities alone. We need the authorities and world watchdogs to make the activities of financial institutions operating in the world markets totally open to us. Both Sarkozy and Brown are protégés of the Rothschilds. Statements made by certain representatives of ‘the global elite’ indicate that the current crisis is being used as a mechanism for provoking some deepening social upheavals that would make mankind – plunged as it is already into chaos and frightened by the ghost of an all-out violence – urge of its own free will that a ‘supranational’ arbitrator with dictatorial powers intervene into the world affairs.
       
    The events are following the same path as the Great Depression in 1929-1933: a financial crisis, an economic recession, social conflicts, establishing totalitarian dictatorships, inciting a war to concentrate power, and capital in the hands of a narrow circle. This time, however, the case in point is the final stage in the ‘global control’ strategy, where a decisive blow should be dealt to the national state sovereignty institution, followed by a transition to a system of private power of transnational elites.
     
    As early as the late 1990s, David Rockefeller, author of the idea of private power that is due to replace the governments, said that we (the world) were on the threshold of global changes. All we need, he went on, is some large-scale crisis that will make people accept the new world order.
     
    Jacques Attali, Sarkozy’s adviser and former EBRD chief, claimed that the elites had been incapable of dealing with the currency problems of the 1930s. He was afraid, he said, that a similar mistake would be made again. At first we’ll wage wars, he went on, and let 300 million people perish. After that reforms will follow and a world government. Shouldn’t we better think about a world government already at this stage, he asked?
      …
    The world is being led to accept the “new order” idea step by step to avoid provoking events that are likely to make the universal protests against the worsening conditions of human existence take ‘a wrong course’ and become uncontrolled. The main thing that Stage One managed to achieve was to start a wide-ranging discussion on ‘global government’ and the ‘inadmissibility of protectionism’ with an emphasis on the ‘hopelessness’ of the national-state models for emerging from the crisis.
     
    This discussion is proceeding against the background of information pressures that help to build up human anxieties, fear, and uncertainty. Some of those information actions are the following: WTO forecasts to the effect that 1.4 billion people are likely to sink below the poverty line in 2009; a warning by the WTO director general that the biggest world trade slide in postwar history is in the offing; a statement by the IMF’s Dominique Strauss-Kohn (a protégé of Sarkozy’s) that a world economic crash is impending unless a large-scale reform of the financial sector of the world economy is implemented, and a crash that is most likely to bring in its wake not only social unrest but also a war.
     
    Against this background, the idea to introduce a common world currency as a cornerstone of the ‘new world order’ was put forward. The real masterminds of this long-standing project are as yet in the shadow. Let us note that some or other representatives of Russia are pushed to the fore. This is reminiscent of the situation before World War I, where the Anglo-French circles that possessed some well-elaborated plans for a new division of the world instructed the Russian Foreign Minister to draw up a general program for the Entente Cordiale. It went down in history as the ‘Sazonov program’, even though Russia did not play an independent role in that war and was from the start built into the system of interests of the British financial elite.
       ….
    On March 25, Moskovsky Komsomolets published an article ‘The Crisis and the World Problems’, by Gavriil Popov (currently President of the International Union of Economists) that openly voiced what was normally discussed behind closed doors.
     
    The article mentioned World Parliament, World Government, World Armed Forces, World Police Force, World Bank, the necessity of placing under international control the nuclear weapons, nuclear power generating capacities, the entire amount of space rocket technology, and the planet’s minerals, the imposition of birth-rate limits, the cleansing of humanity’s gene pool, the fostering of people intolerant to cultural and religious incompatibility, and the like.
     
    The
    “countries that will not accept the global prospects,” says Popov, “must be expelled from the world community.”
     
    Of course, the Moskovsky Komsomolets article conveys nothing new that would enable one to understand the strategy of the global elite. Another thing is important. The establishment of a totalitarian police order and the elimination of national states is being suggested as an open program of action, and what both the liberals, and the socialists, and the conservatives always viewed as ‘new fascism’ is being recommended as the only possible salutary path for the whole of mankind. Someone wants the discussing of these projects to become a norm. ……
     
    The G20 did not discuss the common world currency issue, since time had not yet come for that. The summit itself was a step forward on the way to chaos, because its decisions, if followed blindly, will only worsen the world socioeconomic situation and, to quote Lyndon LaRouche, will “finish off the patient.”
     
    In the meantime, the crisis is being exacerbated, and analysts are predicting an era of mass-scale unemployment. …. this is not seen by the mid-level leaders, while the top-level world managers are, on the contrary, informed quite well; it is they who are implementing the ‘controlled chaos’ and general disintegration policy, including a civil war and the disintegration of the United States planned for the end of 2009, a scenario that is being widely discussed both by American and world media. 
     
    On the threshold of conflicts planned in various areas of the planets, a system is being established that will give a supranational center relying on a large-scale punitive machine total political, military, legal, and electronic control over the population. That system uses the network management principle that allows embedding into any society parallel structures of authority that report to external decision-making centers and are legalized through the doctrine of prevalence of international law over national law. The shell remains national, while real power becomes transnational. Jacques Attali calls this a ‘global law-based state’.
      ….
    The American system of police control is actively implemented in other countries, primarily in Europe – through the establishment of American law hegemony on its territory by means of closing various agreements. A big part here was played by US–European talks out of the glare of publicity on creation of the common ‘area of control over the population’ that were held in spring 2008, when the European Parliament adopted resolution that ratified creation of the single transatlantic market abolishing all barriers to trade and investments by 2015. The talks resulted in the classified report prepared by the experts from six participating countries. This report described the project to create the ‘area of cooperation’ in the spheres of ‘freedom, safety and justice’.
      ….
    It was under the US pressure that the EU countries have introduced biometric passports. The new EU regulation implies the overall switch of EU citizens to electronic passports from the end of June 2009 by 2012. New passports will contain a chip with not only passport info and a photo, but also fingerprints.
     
    We are witnessing the creation of the global electronic concentration camp, and crisis, conflicts and wars are used to justify it. As Douglas Reed wrote “people tend to tremble in the face of an imaginary danger and are too lazy to see the real one.”

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April 24, 2009 Posted by | Economics, EndTimes, GeoPolitics | , , , , | 7 Comments

Bailed Out Banks Too Big to Survive !

  • Are the problems in the financial sector over? Have all the multiple bailouts solved the crisis? I don’t think so. Anyone who thinks we are close to the end of this depression is naive. We are barely beginning. We are at the early stage of, easily, a decade long depression. The world has changed since the crisis began. The American empire is ending. Although many say: China and Asia will rise and become the next empire, I am not so sure. It is too simplistic. We will probably go into a period of war or wars.. World War 3 ???
     
  • John Browne writes :
     
    On April 20th, Bank of America announced a first quarter surge in earnings to $4.2 billion. At first blush, it looked like the kind of news that would ignite a stock market rally. Instead, the Dow closed down 289 points. Could it be that, despite the apparent good news, investors don’t trust the banks or the economy?
     
    In recent months, the Administration has poured billions of dollars into those banks that it has deemed “too big to fail”. B of A alone received some $45 billion. Perhaps now it is time to examine whether the liabilities of these same banks make them, conversely, too big to survive.
     
    Importantly, B of A’s sale of China Construction Bank, a much-prized future earner, resulted in a one-time-only earnings contribution of $1.9 billion, or 45 percent of their just posted quarterly profit figure.
     
    In addition, $2.2 billion in gains were contributed by certain mark-to-market bank “adjustments” to Merrill Lynch’s structured notes. These gains appear to be the result of recent changes in the accounting rules that now allow banks to “officially” inflate the value of toxic assets and thereby erase billions of dollars of paper losses.
     
    In short, the so-called surge in the earnings of Bank of America had little to do with real, repeatable earnings, and much to do with sales of promising assets and accounting gimmickry.
      ……
    American investors are becoming increasingly aware of internal flaws in our economy. Ignoring Administration and Wall Street entreaties to continue spending, consumers are deleveraging and saving cash. There is evidence that Americans are staying at home more, especially for eating and entertainment, and are undertaking more do-it-yourself repairs. Airlines, movie theaters, and restaurants are all experiencing reduced turnover. After a year of bad economic news, Americans are less susceptible to rosy financial reporting from discredited banks.
     
    Already, U.S. unemployment stands officially at 8.7 percent. However, if it is calculated by the pre-Clinton method to include those who have been unemployed for longer than one year, those who have been forced to accept part-time employment, and those who have given up seeking re-employment, the figure stands at 19.2 percent, or just 0.8 percent below Great Depression levels!
     
    The outlook for both corporate and individual loan defaults is appalling. Already, mortgage defaults are exploding. They now extend to the commercial sector and into the retail prime and jumbo mortgage markets.
     
    Many can now clearly see that the outlook for both corporate and individual loan defaults is appalling. Already, mortgage defaults are exploding. They now extend to the commercial sector and into the retail prime and jumbo mortgage markets. The greatly undercapitalized banks face huge increases in loan defaults in almost every sector, which will deplete future earnings and further threaten capital solvency.
     
    But all this is dwarfed by the exposure of the major money center banks to the vast $418 trillion American share of the derivatives markets and, in particular, to the risks posed by counterparty defaults in so-called Credit Default Swaps. These are massive in relation to the banks’ capital reserves.
     
    For example, the combined capital of just five of the top 14 largest American banks would be overexposed to derivative default risk by between 200 and 1,000 times. Up to now, this shocking figure was largely concealed or deliberately ignored by politicians and Wall Street analysts, who were naturally frightened by what they saw.
     
    Despite this financial minefield, the stock prices of financials have rallied strongly. Perversely, many seemingly high risk companies like Citigrouphave seen their shares climb by over 100 percent from their lows, while those with little debt have underperformed by some 50 percent.
     
    One reason for this strange market behavior may be the perception that the money center banks are “too big to fail” and will be bailed out by taxpayers. In reality, however big the banks, even with government guarantees, the problems they face appear too big to survive.

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April 24, 2009 Posted by | Economics | , , , , | Comments Off on Bailed Out Banks Too Big to Survive !

Bank Sector Positive Earnings Reports- It’s Time to Face the Facts!

  • Just how genuine are all these 1Q2009 bank profit reports? Are we heading for a recovery? The stock market seems to think so. It has rallied close to 30% since the low of about 6470. Mike Stathis reports :
     
    For anyone who believes any positive earnings reports from the banks, you probably also believe there will be a real recovery in the economy. These “earnings” are even less credible than those reported by the banks during the height of their Ponzi scheme in 2007. Earnings? From the banks? It’s laughable. Let me now state what I consider to be facts related to the bigger picture of this economic fiasco.
     
    Fact #1. All Major Banks Are Insolvent.
    This has been true now for over a year. It remains true despite the Treasury and Fed already having pumped in over $13 trillion in the form of loans or guarantees into the financial system; just over the past twelve months alone. But this is still insufficient. Several trillions more will be needed, and much of this will be lost forever.
    http://www.avaresearch.com/article_details-105.html
     
    Even Treasury Secretary Geithner (the Federal Reserve’s inside man) insists the banks need an additional $2 trillion. So what’s the message he’s sending? He’s saying the banks are insolvent. But of course he isn’t stating this publicly. He’s afraid to state the obvious because he, like so many others in Washington have been fed the myth that the current economic blowout is mainly due to a lack of confidence. So he doesn’t want to make people panic by telling them the banks are insolvent.
     
    Geithner has continued the strategy initiated by Paulson; using scare tactics and lies to get what he wants. It’s been the most blatant case of crony capitalism in world history. And they have no intention of stopping this fraud anytime soon. Why would they? They’re getting away with it so easily.
    http://www.avaresearch.com/article_details-76.html
      ….
    If you think $2 trillion will solve the problem you’ve forgotten about the 30-40:1 leverage still held by these banks. Have you forgotten about the CDS market? Have you forgotten about the monolines?….
     
     
    Despite the media’s abandonment from these issues, I can assure you they are still very big problems. The derivatives exposure of the top five U.S. banks is beyond scary when you look at the official data from the Office of the Comptroller of Currency. And when you consider the fact that these numbers are reported on a voluntary basis, the possibilities for further disaster become much more frightening.
     
    Even the latest discussion by Geithner and Summers to convert the TARP loans to common stock is only delaying the inevitable; a complete nationalization of the banks.  The longer they remain in denial, the more money they’ll keep tossing into the bottomless pit; and the worse things will get. Nationalization is the only possible remedy. Washington is going to learn this the hard way; at our expense.
      ….
    Fact #2. We Are Witnessing the Largest Theft in World History.
    The U.S. banking cartel (GS, BAC, C and JPM) is engaging in the biggest scam in world history by covering up toxic assets and inflating the valuation of this junk. That is specifically why Obama’s “Dream Team” consists of many of the same individuals responsible for the world’s biggest Ponzi scheme.
     
    First we have Tim Geithner, noted tax cheat and Paulson’s right-hand man during the Bush administration. As a reward for his loyalty to Wall Street, Geithner was promoted to become Larry Summers’ right-hand man. Recall that Geithner was not only responsible for the Bear Stearns heist, he was also the principal architect of the TARP. As I warned last year, the most detrimental effect of TARP wouldn’t be the $770 billion check of misappropriated funds, but the fact that it would commence the sign-off of a blank check for the financial industry. This is exactly what has occurred. 
     
    Second, the guy who is really making all of the economic decisions – Larry Summers – is arguably the single most responsible individual accounting for the severity of the economic fallout. While Alan Greenspan fueled the engine of financial destruction, Summers designed it. Summers not only pushed for the repeal of the Glass-Steagal (along with Rubin and Gramm), but he was the principal force behind legislation that made it impossible to regulate the CDS market.
    http://www.avaresearch.com/article_details-104.html
     
    And of course Geithner is a protégé of both Summers and Rubin. But we must also remember that Geithner was the President of the New York Federal Reserve Bank. As I have stated many times in the past, the banking cartel owns the Federal Reserve. That is specifically why these banks have been given a blank check to buy up smaller banks; banks which in most cases are no more insolvent than the members of this dangerous cartel.
     
    So hopefully you now understand why Geithner was appointed Treasury Secretary, despite being guilty (although given immunity) of blatant tax fraud. He is naïve. He is a “yes man” who takes orders from Summers. And he’s proven that he’ll act in the best interests of the banking cartel. Why would you expect anything else from Geithner? As former president of the New York Fed, he’s an insider from the cartel. Thus, with Geithner at the helm of the U.S. Treasury, the interests of the banking cartel are well-protected. The problem is that Summers, Geithner and the rest of the mob ultimately won’t be able to save the banks without destroying America.
     
    In the meantime, the FDIC and OTC can’t touch the banking cartel despite their insolvency because the cartel owns and controls the Federal Reserve and U.S. Treasury.  Despite the claims made that the FDIC is an independent insurance organization for the banks, the fact is that it is part of the U.S Treasury. That is specifically why they are drawing from the reserves of the Treasury; from your tax dollars.
     
    Recent changes to mark-to-market accounting will further aid in the illusion of bank earnings. But you cannot hide forever. And at some point, things are really going to get ugly when reality surfaces. As I said several months ago, if you think this is bad “you ain’t seen nuthin yet.”
     
    Several generations of taxpayers are already on the hook for trillions of dollars handed out to these banks because Obama and his pro-Wall Street staff have convinced the public that they know what they’re doing. Sure they do. They’re pulling off the biggest heist of all time.  
     
    Fact #3. There is NO Escaping the Depression.
    All throughout this scam, Washington’s economic “gurus’ have used scare tactics to justify the passage of blank checks to the banks. And yes, they’ll keep spending until they get what they want; signs of a recovery. They won’t care that it will be a phantom recovery. It’s a political maneuver aimed at gaining momentum for Obama’s second term election.
     
    They will keep lying and acting recklessly, but they won’t be able to avert a depression. America’s next Great Depression is already here. If you don’t realize this then you simply have no idea what’s going on. If that’s the case, you probably rely on the mainstream media for your information.
     
    In fact, the arcane and incompetent approaches used by Washington and the Fed are going to make the depression much worse and last much longer. Supplying the banks with capital we don’t have is like stabbing an open wound and claiming you will prevent the bleeding. While the initial effect may appear to be improvement, it’s only going to cause more bleeding. Meanwhile, the banks continue to hoard bailout capital, lobby for more bailout money and increase rates for credit cards, ATM fees and other malicious activities aimed at screwing consumers. It’s beyond astounding. Just how much abuse can you take?
     
    The real solution is to purge the system of the trash and start anew. The Federal Reserve does not want to take this approach. And Washington follows their lead. They didn’t want to take it after the dotcom collapse, and that’s why we’re in this mess. Consider the consequences of trying to mask the real problems. There’s going to be a much bigger catastrophe down the road. I’ll guarantee it. It may manifest differently, but the impact will be more devastating to consumers either in severity or duration; perhaps both. One of the more obvious consequences is massive inflation, but I would expect other problems to surface, most likely capriciously.
    http://www.avaresearch.com/article_details-75.html
     
    Only a fool would actually think you could print out trillions of dollars and erase the massive global apocalypse that has occurred. Sorry, but that simply doesn’t obey any laws in the universe I live in. There are no easy fixes. Denial and deception will prove to be Washington’s biggest mistakes. Our leaders are showing they’re incapable of leadership.  Of course, this is a trend that has not changed for over three decades. 
     
    The so-called experts the media goes to for insight have continued to deny the fact that we’ve already entered the early stages of a depression. This depressive period is likely to be far worse than the first one. But Washington’s hacks continue to hide the truth by making ridiculous comparisons lacking merit, while emphasizing bogus economic data. And the media goes along with this deception by not allowing credible experts to challenge the views of these hacks. In the end, the media dictates what your perception of reality is, thinking they can alter reality. This is why you must ban the media just as they have banned me.
     
    Rather than use real data, they quote data manipulated by Washington. Rather than make objective and rational conclusions, the media plasters its hand-selected group of “experts” who use simpleton arguments to explain why we won’t have a depression. As the records show, they’ve all been wrong from the beginning. All they’ve done is denied and downplayed everything, while issuing countless revisions week after week, month after month. This is not forecasting; it’s a method used to hide the truth. Most likely, this deception and denial has already destroyed a good portion of your livelihood.
     
    All of the statements made by Bernanke, Paulson, Geithner and the economists of the round table have one thing in common. They’ve all been grossly wrong. According to them, problems in real estate “would not be severe” and “would not spill over to the economy.” According to them, the banks were “fine” and there would be “no bailouts.” The only thing they’ve shown is that they cannot and should not be trusted. And they most certainly cannot be relied upon for real solutions.
    http://www.avaresearch.com/article_details-69.html
     
    Meanwhile, the media continues to shut out the real experts who have no agendas other than to preserve this nation. The evidence is overwhelming that the mainstream media is committed to covering up the farce orchestrated by the Federal Reserve.
     
    This will not be a deflationary depression, as the so-called experts require as a mandatory (and ridiculous) condition for a depression.
    http://www.avaresearch.com/article_details-150.htmlIt will be an inflationary depression, compliments of Washington and the Federal Reserve. In reality, inflation is still fairly high and will continue to rise. Don’t even bother to listen to the CPI and PPI data. http://www.avaresearch.com/article_details-133.html
     
    As I first detailed in my 2006 book, this data is fudged, as is GDP and employment data. The fact is that the only inflation that really matters is rising; inflation for basic necessities like food, energy and healthcare. And when this bailout bonanza catches up with the dollar, inflation is going to rival the early ‘80s; perhaps even surpass it. It is likely that Washington will then intentionally escalate inflation as a way to help pay off what will be an insurmountable national debt. 
      ……
    Fact #4. There Will Be No Real Recovery for 90% of Americans.
    Washington officials, the Fed, and pundits keep referring to a recovery. The fact is that there will be no real recovery. Sure, there will ultimately be a relative improvement from the depressionary period we are facing.  However, this will be more of a cyclical artifact based exclusively on the wasteful spending of taxpayer dollars. It will be another illusion orchestrated by the Fed and their subordinate, the U.S. Treasury.
     
    And yes, the market will advance as a result of this inflationary economic policy. However, it will be short-lived. Thereafter, the market is likely to fall below 6000 when reality sets in; perhaps even below 5000. The only recovery will be for those who stand to benefit from this epic fraud; the wealthy. The game is being played the way it always has, just on a much larger scale this time.
     
    So if you are counting on a real economic recovery, don’t get your hopes up; at least not for America; not unless you are very wealthy. The wealth and income lost by the working class have been and will continue to be transferred to America’s wealthy and developing nations like China and Brazil – all compliments of Washington’s free trade policies. As a consequence, these nations will mount a real recovery.
    http://www.avaresearch.com/article_details-149.html
      ….
    The sooner you accept the fact that America’s next Great Depression is here, the sooner you will be able to prepare for the difficult and permanent readjustment that lies ahead.  You need to change your mentality as a consumer and employee. You need to become very frugal and stay that way. No more buying the latest gadgets. No more buying a new car every four years. You need to start acting like you don’t have job security because you don’t. You need to prepare for massive inflation because it’s on its way.
     
    Finally, I urge you to minimize your dependence on banks; not just now, but forever. While it may cause an inconvenience, it will be well worth it. Banks are the most insidious enemy of American consumers. I don’t think I need to convince you of that.

end

April 24, 2009 Posted by | Economics | , , , , , , | Comments Off on Bank Sector Positive Earnings Reports- It’s Time to Face the Facts!

Bisphenol A (BPA) Contaminating Our Food

  • Why are people getting sicker? Why is cancer getting more prevalent? Could it be we are being poisoned by industrial chemicals in our food? Is there a hidden agenda to ‘feminized’ males and control population?  YouTube :
     
    Bisphenol A is found in most plastic food containers today. Not only is it found in plastic containers, but also in the lining of most cans. BPA is essentially a synthetic estrogen that enters the body when one consumes food or beverages out of plastic or plastic-lined containers.
     
    This is not only harmful to the male reproductive system, but has been found to also stimulate breast cancer growth in women. Knowing this, it should be of no surprise that the sperm count of the average Western male is on a steady decline as many males are becoming more and more feminine. What most people don’t know is that Bisphenol A was actually considered as the form of estrogen to be used in estrogen pills going back to the 1930s.
     
  • Group Raises New Concerns About BPA Packaging:
     
    There is a new mission to rid consumer products of a chemical believed by some to cause cancer. NewsCenter 5’s Shiba Russell reported that the Food and Drug Administration said Bisphenol A, or BPA, is safe, but some scientists disagree.
     
    “Unfortunately at this point, it’s really hard to avoid this chemical because it’s found in so many consumer products,” said Namasha Schelling, of Clean Water Action. BPA, found in products from baby bottles to canned goods, has been linked to breast and prostate cancer.
     
    “It needs to be regulated. We can’t just let companies put out any product they want. It needs to be regulated by the government,” Schelling said. Eden Foods is the only U.S. company packing most of its organic products in BPA-free cans. Its highly acidic tomato products still need the chemical for shelf life. 
      …. 
    Tufts University researcher Laura Vandenberg is leading five studies on how low levels of BPA affect rodents. “They develop problems with their mammary glands, including lesions that would be a cancer in a human being,” she said. Clean Water Action is urging the state to ban all BPA-lined products intended for children under 3.
     
  • Government of Canada Protects Families With Bisphenol A Regulations :
     
    On October 17, 2008, the Government of Canada announced it will immediately proceed with drafting regulations to prohibit the importation, sale and advertising of polycarbonate baby bottles that contain bisphenol A (BPA).  The Government will also take action to limit the amount of bisphenol A that is being released into the environment.

end

April 24, 2009 Posted by | Medicine & Health | | 4 Comments