Wednesday, August 26, 2009

Saturday, August 22, 2009

Thursday, August 20, 2009

Lawyer: FBI Paid Right-Wing Blogger Charged With Threats

By David Kravets August 19, 2009

A notorious New Jersey hate blogger charged in June with threatening to kill judges and lawmakers was secretly an FBI “agent provocateur” paid to disseminate right-wing rhetoric, his attorney said Wednesday.

Hal Turner, the blogger and radio personality, remains jailed pending charges over his recent online rants, which prosecutors claim amounted to an invitation for someone to kill Connecticut lawmakers and Chicago federal appeals court judges.

But behind the scenes the reformed white supremacist was holding clandestine meetings with FBI agents who taught him how to spew hate “without crossing the line,” according to his lawyer, Michael Orozco.

“Almost everything was at the behest of the Federal Bureau of Investigation,” Orozco said in a 45-minute telephone interview from New Jersey. “Their job was to pick up information on the responses of what he was saying and see where that led them. It was an interesting dynamic on what he was being asked to do.”

“He’s a devoted American,” added the lawyer, who claims Turner was paid “tens of thousands of dollars” for his service.

Bill Carter, an FBI spokesman, said in a telephone interview the bureau’s policy is “to neither confirm nor deny whether an individual has an association with the FBI.”

Turner’s alleged 5-year-long bureau stint ended sometime in 2007, Orozco said, the year the mischievous online group, Anonymous, briefly shuttered his site — turnerradionetwork.blogspot.com — with a denial of service attack. At the time, hackers also posted what appeared to be private e-mails between Turner and the FBI.

The e-mails are legitimate, said Orozco. The FBI approached Turner, now 47, in 2002, and he spewed rhetoric about politics, white supremacy, immigration, abortion and other hot-button issues for years in exchange for government cash.

Turner was arrested in June at his apartment in suburban New Jersey.

According to court documents, (.pdf) after a three-judge panel of the Chicago-based 7th U.S. Circuit of Appeals upheld a Chicago handgun ban, he blogged that the judges should be “killed.”

“Let me be the first to say this plainly: These judges deserve to be killed. Their blood will replenish the tree of liberty. A small price to pay to assure freedom for millions,” he wrote.

A day later he posted addresses, photos, maps and other identifying information about Chief Judge Frank Easterbrook and Judges Richard Posner and William Bauer, the authorities said. State charges are also pending in Hartford, Connecticut, where Turner is accused of inciting readers to “take up arms” against state lawmakers.

Though the alleged threats came after his FBI service ended, Orozco said Turner’s relationship with the FBI is relevant to his defense.

“It is not trivial that the very government that trained an individual where the line was is prosecuting him when he has not stepped over the line,” Orozco said.

In addition, he is banking (.pdf) on the First Amendment to save his client’s skin.

“It’s a protected political statement. He opined,” Orozco said. “He said they deserved to be killed. He did not say grab a gun and go out and do what is necessary.”

http://www.wired.com/threatlevel/2009/08/lawyer-fbi-paid-right-wing-blogger-charged-with-threats/

Tuesday, August 18, 2009

The Rumsfeld Plague: Aspartame Brings Horror

(NaturalNews) – The aspartame horror began in 1981 due to Donald Rumsfeld, as head of the G.D. Searle pharmaceutical company, when he used his political clout to put a known carcinogen on the market to poison a nation all in the name of money.

In a Washington Post article of December 12, 2001 about Donald Rumsfeld, there was a one liner that was so incredibly relevant. That sentence was:

“He could be swilling Diet Coke with the secure knowledge that if not for his turnaround of Big Pharma giant G.D.Searle & Co. and successful touting of the sweetener aspartame, the beverage would not be possible”.

If Donald Rumsfeld had never been born think of how many millions of people the world over would not suffer headaches and dizziness. Thousands blind from the free methyl alcohol in aspartame would have sight, and there would be much fewer cases of optic neuritis and macular degeneration. Millions suffering seizures would live normal lives and wouldn`t be taking anti-seizure medication that won`t work because aspartame interacts with drugs and vaccines. Think of the runner, Flo Jo, who drank Diet Coke and died of a grand mal seizure. She, no doubt, would still be alive. Brain fog and memory loss, skyrocketing symptoms of aspartame disease, would not be epidemic.

Millions suffer insomnia because of the depletion of serotonin. Think of Heath Ledger. He took that horrible drug, Ambian CR for sleep, which makes your optic nerve and face swell and gives you horrible headaches. Plus, he drank Diet Coke and took other drugs and died of polypharmacy.

Since aspartame has been proven to be a multi potential carcinogen, would Farrah Fawcett still be alive?

Consider the constant plague of fallen athletes. Aspartame triggers an irregular heart rhythm and interacts with all cardiac medication. It damages the cardiac conduction system and causes sudden death. Thousands of athletes have fallen. Doctors H.J. Roberts and Russell Blaylock wrote these alerts:
http://www.wnho.net/aspartame msg scd.htm
and
http://www.wnho.net/aspartame and arrhythmias.htm

Epidemiological studies should be done on MS and lupus because of their link to aspartame use. Hundreds of thousands of people suffer from aspartame induced multiple sclerosis and lupus, and if not warned in time could lose their lives as many have. Hospice nurses have reported Alzheimer`s disease in 30 year olds as it skyrockets from Rumsfeld`s plague. Think of Michael Jackson, a former Diet Pepsi spokesman. He developed lupus, then came the drugs, then came the serious joint pain, and then he died of cardiac arrest which aspartame causes.

As the phenylalanine in aspartame deletes serotonin, it triggers all kinds of psychiatric and behavioral problems. The mental hospitals are full of patients who are nothing but aspartame victims. If Donald Rumsfeld had never been born, the revoked petition for approval of aspartame would have been signed by FDA commissioner Jere Goyan and the mental hospitals would house probably 50% less victims. Jere Goyan would never have been fired at 3:00 AM by the Reagan transition Team to over-rule the Board of Inquiry. Instead, FDA commissioner Jere Goyan would have signed the revoked petition into law. See: http:/www.mpwhi.com/fda petition1.doc. The FDA today would still be Big Pharma`s adversary instead of being their “hooker”.

If aspartame had not been approved, Lou Gehrig`s Disease, Parkinson`s and other neuro-degenerative diseases would not be knocking off the public in record numbers. Michael Fox, a Diet Pepsi spokesman, would never have gotten Parkinson`s at age 30. He would probably still be making movies, young and healthy. Aspartame interacts with L-dopa and other Parkinson drugs. Parcopa has aspartame in it and the pharmaceutical company refuses to remove it.

One has to take a deep breath when you think how heartless it is that there is not even a warning for pregnant women. Aspartame triggers every kind of birth defect from autism and Tourettes` Syndrome to cleft palate. Aspartame is an abortifacient (a drug that induces abortion). As an example, out of 9 pregnancies, 8 were lost and the one that survived is schizophrenic. Multiply that all over the world due to Rumsfeld`s Plague. ADD and ADHD would be rare instead of rampant.

It`s normal for young girls to look forward to marriage and children. Yet, many sip on diet soda or use aspartame products not realizing that aspartame is an endocrine disrupting agent, stimulating prolactin, which is a pituitary hormone that stimulates milk production at childbirth, changes the menstrual flow and causes infertility. Many go through life never knowing why they couldn`t have children. Aspartame even destroys marriages because it causes male sexual dysfunction and ruins female response.

Aspartame causes every type of blood disorder from a low blood platelet count to leukemia. Because aspartame can precipitate diabetes the disease is epidemic. To make matters worse, it can simulate and aggravate diabetic retinopathy and neuopathy, destroy the optic nerve, cause diabetics to go into convulsions and interact with insulin. Diabetics lose limbs from the free methyl alcohol; professional organizations like the American Diabetes Association push and defend this poison because they take money from the manufactures. How many millions would not have diabetes if Rumsfeld had never been born?

Aspartame (NutraSweet/Equal/Spoonful/E951/Candere/Benevia, etc) and MSG, another one of Ajinomoto`s horrors, are responsible for the epidemic of obesity the world over. Why? Because aspartame makes you crave carbohydrates and causes great toxicity to the liver.
http:/www.mpwhi.com/ aspartame makes you fatter.htm

The FDA report lists 92 symptoms from unconsciousness and coma to shortness of breath and shock. Medical texts list even more: “Aspartame Disease: An Ignored Epidemic”, www.sunsetpress.com by H.J. Roberts, M.D., and “Excitotoxins: The Taste That Kills” by neurosurgeon Russell Blaylock, M.D., www.russellblaylockmd.com. There is simply no end to the horrors triggered by this literal addictive, excitoneurotoxic, genetically engineered carcinogenic drug. This chemical poison is so deadly that Dr. Bill Deagle, www.nutrimedical.com , a noted Virologist once said it was worse than depleted uranium because it is found everywhere in food.

The formaldehyde converted from the free methyl alcohol embalms living tissue and damages DNA according to the Trocho Study done in Barcelona in 1998. Even with this devastating study showing how serious a chemical poison aspartame is, the FDA has turned a blind eye and a deaf ear to it. With Monsanto attorney Michael Taylor now appointed as Deputy Commissioner to the FDA by Obama, it`s nothing more than Monsanto`s Washington Branch Office. Even before the Ramazzini Studies showing aspartame to be a multi-potential carcinogen, the FDA knew it. Their own toxicologist, Dr. Adrian Gross, even admitted that it violated the Delaney Amendment because of the brain tumors and brain cancer. Therefore, no allowable daily intake ever should have been able to be established. Aspartame caused all types of tumors from mammary, uterine, ovarian, pancreatic and thyroid to testicular and pituitary. Dr. Alemany, who did the Trocho Study, commented that aspartame could kill 200 million people. When you damage DNA you can destroy humanity.

Dr. James Bowen told the FDA over 20 years ago that aspartame is mass poisoning the American public and likewise in more than 70 countries of the world. No wonder it`s called “Rumsfeld`s Plague”.

Big Pharma knows all about aspartame and they add it to drugs, including the ones used to treat the problems caused by aspartame. Big Pharma has made America a fascist government. People are so sick from aspartame and yet they keep selling these dangerous pharmaceuticals at outrageous prices.

Dr. H.J. Roberts said in one of his books that you have to consider aspartame with killing children. We are talking about a drug that changes brain chemistry. Today children are medicated instead of educated.

Death and disability is what Donald Rumsfeld has heaped on consumers just to make money. Think of the death of Charles Fleming who used to drink about 10 diet sodas a day. Then he used creatine on top of this, which interacts, and is considered the actual cause of death. Yet his wife, Diane Fleming, remains in a prison in Virginia convicted of his death, despite being the very one who tried to get her husband to stop using these dangerous products containing aspartame in the first place.

The list never ends. At least six American Airlines` pilots, who were heavy users of aspartame, have died with one in flight drinking a Diet Coke. When American Airlines was written about removing aspartame they said, “leave the flying to us”. Pilots too are sick and dying on aspartame, and when you fly your life is in the hands of the pilot. There was a case with a Delta pilot that died from esophageal cancer and had a history of consuming huge quantities of diet sodas. This was brought to the attention of the Delta management that refused the pilot`s wife`s request to alert other pilots.

Then there`s the Persian Gulf where diet sodas sat on pallets daily in temperatures in the 100 to 120 degree range for as long as 9 weeks at a time before the soldiers drank them all day long. Remember, aspartame converts to formaldehyde at 86 degrees; it interacts with vaccines and damages the mitochondria or life of the cell, and the whole molecule breaks down to a brain tumor agent.

There`s a book out there called, “Rumsfeld, His Rise, Fall and Catastrophic Legacy”, by Andrew Cockburn that will substantiate all of this. And fittingly, Rumsfeld appropriately lives in a place called Mount Misery.

In the video, “Sweet Misery: A Poisoned World”, which you can view at www.healthtalkhawaii.com, attorney James Turner explains how Rumsfeld got his poison marketed for human consumption. To learn about how the CDC investigation was covered up – The Rumsfeld-Pepsi-Nixon Connection, go to http://www.sweetremedy.tv/pages/rum… or view it in its entirety at www.healthtalkhawaii.com.

For over a quarter of a century there has been mass poisoning of the public in over 100 countries of the world by aspartame because Donald Rumsfeld, as he put it, “called in his markers”. The aspartame industry has paid front groups and professional organizations to defend them and push it on the very people it can cause the most harm to. A suit was filed against the American Diabetes Association in 2004 for racketeering but they got out of it.

The hands of physicians are tied. Most are clueless that a patient is using aspartame, and the drugs used to treat the aspartame problem will probably interact and may even contain aspartame. This is the world that Donald Rumsfeld is responsible for!

My eternal thanks to Dr. Betty Martini, Founder, of Mission Possible International for her undying efforts in exposing this heinous crime against humanity.
Her websites are:
www.mpwhi.com
www.dorway.com
www.wnho.com

Monday, August 17, 2009

A BRIEF HISTORY OF ASPARTAME

Aspartame is a very addictive drug, methanol is classified as a narcotic. You may go through withdrawal symptoms when getting off it. Dr. Russell Blaylock, neurosurgeon wrote Excitotoxins: The Taste That Kills and says in it that magnesium protects the brain and the heart from excitotoxins. This may help a bit.

The phenylalanine in aspartame lowers the seizure threshold and depletes serotonin. Lowered serotonin triggers manic depression, panic attacks, anxiety, mood swings, insomnia, rage, etc. You have no control over it and unfortunately, because of the lies from industry and FDA, physicians do not correlate the problems with aspartame. Instead try to medicate the symptoms as usual but aspartame interacts with antidepressants and many other drugs. Dr. H. J. Roberts has written a new medical text on the world plague titled Aspartame Disease: The Ignored Epidemic, available at www.sunsentpress.com or by calling 1-800-814-9800. Not only will every physician should have a copy and read it but so should every pharmacy because of drug interaction.

There is a detox page on www.aspartame.ca and Newton Labs in Atlanta has made an antidote to try and remove some of the formaldehyde from the system. They also have a good liver detoxifier. In the new medical text there is a chapter for physicians on how to treat the consumer who has used aspartame as well as a chapter on options for the patient.

The wood alcohol or methanol in aspartame (10%) converts to formaldehyde and formic acid in the body which affects the retina of the eye and destroys the optic nerve. Dr. Morgan Raiford who was a specialist in methanol toxicity and diagnosed many of those who went blind on aspartame in the l980's did say if vision was in the "wet stage" that it could return. We have even had consumers blind on aspartame have their vision return after getting off of it. Not all of them, of course, just some where the optic nerve had not been destroyed, and there is chance for reversal.

Aspartame also triggers an irregular heart rhythm, and again most cardiac medication interact with aspartame.

Sugar free gum is particularly bad because aspartame is a drug with small molecules - goes through the mucous membranes of the mouth, straight into the blood and thus straight to the brain. It is the same as if you gave yourself an IV.

As to Congressional Hearings, there have already been three. Senator Orrin Hatch was one of the problems - paid by Monsanto. Senator Metzenbaum wrote a bill to have independent studies completed by the National Institute of Health on some of the problems being seen in the population such as seizures, drug interactions, behavioral problems and the effect on the fetus (aspartame is an abortifactent and teratogen). You can read the dead bill on "Dead Bill" It never got out of committee because of senators like Hatch and heavy Monsanto lobbying. The evidence was enough to take aspartame off the market and a moratorium was asked, yet money and political influence in the corrupt US Congress and Senate saw to it that nothing was accomplished.

There has to be such an outrage from thousands that this time nothing will be able to prevent the right action from being taken. It should make class actions easier.

Twenty years on the market using the consumer public as guinea pigs has shown that aspartame is a deadly chemical poison that has probably caused more deaths than in many wars.

Aspartame Disease has been declared a global plague by H. J. Roberts, M.D., who has published a 1000 page medical text so that doctors can diagnose their patients, pharmacists will know about drug interaction and consumers will know the problems this toxin triggers.

Even Europe is probing the sweetener for ban. It was approved in the UK because Searle, the original manufacturer, made a business deal with Professor Paul Turner, and when Parliament found out there was a big blowout. However, it was not rescinded but in 2004 a lengthy investigation has been undertaken in the UK.

Several crimes were committed to approve aspartame. For example an additive must be inert. Aspartame is a drug that interacts with other drugs and changes brain chemistry. It is about as inert as nitroglycerin. Other crimes are listed in a letter to the former Attorney General, Janet Reno.

A board of Inquiry told the FDA aspartame had not been proven safe and could not be approved. Dr. Arthur Hull Hayes over-ruled the Board of Inquiry and then went to work for the PR Agency of the manufacturer at $1000/day, and has refused to talk to the press ever since. The FDA in an effort to cover up the revolving door lists Dr. Hayes on their web site but omit his employment with Burston Marsellar!

The situation is so serious there are now aspartame detoxification centers in the US.

A worldwide volunteer force is warning consumers all over the world. This site , www.aspartame.ca has been on line since August 1995 and has, as of May 2005 won 45 awards and we constantly get calls and e-mails from doctors and scientists all over the world.

The FDA had good reason to have Monsanto ban aspartame in l986 when they were petitioned by the Community Nutrition Institute in Washington, D.C. because so many consumers were going blind and having seizures from aspartame. The FDA showed their loyalty to industry as usual instead of the consumer public by denying the petition.

The FDA notoriously refuses to record all reports. In fact, in original hearings it was admitted they went so far to get rid of recording aspartame complaints that they were actually referring them to the AIDS Hotline!

It has been proven beyond a shadow of a doubt that aspartame can abort the fetus and if a live baby survives it is liable to have birth defects. The FDA has refused to order even a warning on the label to stop the murder of babies in their mother's womb.

Their own FDA toxicologist, the late Dr. Adrian Gross told Congress that aspartame violated the Delaney Amendment because beyond a shadow of a doubt it triggers brain tumors. Dr. Gross concluded and "if the FDA violates its own law who is left to protect the public." In time political influence got the Delaney Amendment which forbid putting something known to cause cancer in food, repealed but that's the corrupt Congress for you again. Aspartame in original studies triggered brain, mammary, uterine, ovarian, thyroid, pancreatic and testicular tumors.

Some of the original studies were the target of an indictment which was not carried out because the two U.S. Prosecutors on the case quit and hired on with the defense team and the statute of limitations expired. One of those studies, SC-18862, a 52 week oral toxicity infant monkey study, was actually used as pivotal evidence in the approval of aspartame. Seven infant monkeys were fed aspartame with 5 having grand mal seizures, and one dying. Rather than proving the safety of aspartame it proved the cause of an epidemic of seizures now in the population.

Aspartame is an addictive drug, methanol is classified as a narcotic (Louis, R. J. Sax's Dangerous Properties of Industrial Materials. Eighth Edition, New York, Van Nostrand Reinhold (1992), pp. 2251-2252.

Because of industry's funding of professional organizations the propaganda on aspartame has been spread to consumers and physicians alike covering up the deadly effects of the drug. The FDA likewise lies to the public about safety. Misleading the public is a crime under US law Title 18, Section 1001.

Aspartame damages DNA as shown on the Barcelona Report (Trocho Study. Trocho C, Pardo R, et al.) Formaldehyde derived from dietary aspartame binds to tissue components in vivo. Life Sciences 63: 337-349, l998. When you damage DNA you can destroy the human race! Two thirds of the US alone uses aspartame, and more than 100 countries of the world.

A better opoison would be hard to make. Aspartame is a molecule composed of three components, phenylalanine(50%), aspartic acid (40%), methyl ester (10%). Aspartic Acid and phenylalanine are two amino acids you cannot isolate from their protein base because they become neurotoxins. The famed Dr. John Olney, who founded the field of neuroscience called excitotoxicity, did studies on aspartic acid in l970 and found that it caused lesions in the brains of mice. He told Searle, the original manufacturer, but they did not tell the FDA until AFTER it was approved. Aspartic acid is an excitotoxin that stimulates the neurons of the brain to death causing brain damage of varying degrees. Methanol or wood alcohol is a severe metabolic poison that converts to formaldehyde and formic acid (ant sting poison). Phenylalanine at 50% goes directly into the brain as told to Congress by Dr. Richard Wurtman of MIT. The phenylalanine lowers the seizure threshold and depletes serotonin. Lowered serotonin triggers manic depression, rage, mood swings, anxiety, panic attacks, hallucinations, paranoia, suicidal tendencies, insomnia, etc.

The damage doesn't stop there as aspartame breaks down into a witches brew of toxins including diketopiperazine, a brain tumor agent. In secret trade information volunteered in congressional hearings it was admitted in the last paragraph that they (Searle) had to consider almost complete conversion to DKP and if they told the FDA they wouldn't get approved. Searle and their CEO at the time, Donald Rumsfeld, currently Secretary of Defennce for the US, was intent on getting aspartame approved knowing full well that consumers in the population would get brain tumors just like the rats did in original studies and they didn't care. Money was their only interest.

Searle did studies in South America sacrificing people in poor villages who developed brain tumors and seizures. These studies showed that aspartame hardens the synovial fluids and destroys the central nervous system and brain. They did not publish them - another crime. People died in the studies.

More than twenty years of consumers going blind, having aspartame trigger neurodegenerative diseases, brain tumors and seizures and a list of 92 symptoms on the FDA report. Women have aborted babies as well as given birth to those with birth defects because of consuming aspartame without a warning. No doubt tens of thousands have died from the symptoms and diseases triggered by this neurotoxin. The agony, sickness and death by this deadly chemical poison is the greatest atrocity committed in the history of the FDA, and they have covered it up for years with full knowledge of the effects of aspartame.

The FDA refuses to answer 26 questions given to them on aspartame by Newt Gingrich years ago when he was Speaker of the House. The law requires they answer a congressman. The FDA likes to send a packet of Federal Registers and their propaganda Talk Paper but will not answer questions and the law says they must. FDA obviously think they are above the law.

Dependent on where you live you will have to complain to your country's equivalent of the FDA. A high percentage of them have never done any research of their own on aspartame but just taken the word of the corrupt FDA. Of all the studies done only those dne by the industry are favourable to aspartame. All private studies show multiple reasons it should be banned immediately.

Aspartame does have one use however. It gets rid of ants fast. Sprinkle a single blue Equal package on and around the nest and next day they are gone.

In the meantime, one thing that will help is notifying physicians about the new medical text, Aspartame Disease: The Ignored Epidemic. For every physician who understands the diseases and symptoms triggered by aspartame, he can save the lives of thousands, and it will also help to alert pharmacists so they know about drug interactions which also kill.

Bear in mind that according to the Lancet (a British medical publication) the medical industry now kills more people than any other source. You are a lot safer dealing with a Naturopathic or Homeopathic doctor both of whom treat the ailment, not the symptom and do not use drugs. They get you well, the medical industry keep you ill and on drugs as long as possible and it is now being proven that most drugs are ineffective.

Distributed by Aspartame Poisoning Information Canada

Friday, August 07, 2009

Who owns what television stations

http://www.neatorama.com/2008/07/07/who-owns-what-on-television/

Thursday, August 06, 2009

Maxwell "This Woman's Work"

FOOD, Inc.



I went to Magnolia theatre the other day and watched Food, Inc. It was fantastic and horrifying at the same time.

It was fantastic because it opened my eyes to the industrial ranching of cows, pigs, and chickens. It was horrifying because it's sickening to see how cows, chickens, and pigs are being treated.

If you watch the documentary, you'll see how animals are treated about as inhumanly as humanly possible. It is absolutely disgusting.

You'll also see how things could be, but because of oppressive corporations, humanity is being destroyed in farming and ranching community.

The reason oppressive corporations have gained such dominate position in the way food is grown stems largely because Congress lacks a backbone to stand up for the Rights of American farmers and ranchers.

Another name that popped up in Food, Inc. again, which is not surprising is Monsanto. I have actually grown to hate this corporation that patents life. I believe this corporation stands for everything evil in our country, and that's all I have to say about that.

What I will find fucking amazing is that this documentary will not ever be shown on mainstream television although if this documentary was shown on NBC, CBS, FOX, or ABC, there would be such public outcry it would cause a revolution in the way food is grown in the United States.

Most likely Food, Inc. would cause farming and ranching to go back to the way God intended free human beings to farm and ranch.

You need to see this documentary.

The Second Wave Of The Depression – Hyperinflation Likely

By Webster Tarpley

– The second wave of the world economic depression is coming soon. Larry Summers, the economics czar of the Wall Street puppet regime currently in power in Washington, recently confessed to the Financial Times in an unguarded moment: “I don’t think the worst is over ….” A few weeks earlier, Jacques Attali, who served in the 1980s as the main economics adviser to French President Mitterrand, told an audience at the International Economic and Financial Forum (FIEF) in Paris that the world might well soon face a “planetary Weimar” in the form of a hyperinflationary depression similar to the German events of 1922 to 1923.

During the last world economic depression, the first wave came in the form of the famous New York Stock market crash of October 1929. But this was only the beginning, and hardly the main event. The world depression of the 1930s was made irreversible by the British bankruptcy of September 1931, when the Bank of England ceased gold payment. At that time, the vast majority of international trade was financed by pounds sterling bills of exchange drawn on London. When the British Pound began to float through a series of competitive devaluations, the lack of a stable reserve currency — and not the US Hawley- Smoot tariff — strangled world trade, thus making that depression as severe as it was. British default in turn undermined the US banking system, setting the stage for the banking panic which ravaged the United States in 1932 and 1933, to the point that not a single bank in the country was still operating by the time Franklin D. Roosevelt assumed the presidency in March of 1933. The United States would almost certainly have been lashed by additional waves of depression had it not been for the banking triage implemented by the Roosevelt administration during the bank holiday, and for other New Deal measures which succeeded in mitigating the Depression. Other countries, notably Germany, went into a permanent depression which was expressed in a series of military campaigns which aimed at the economic looting of the other countries of Europe. Whatever the ideological fanatics of the discredited Austria and Chicago schools of economic analysis may claim, there is no automatic business cycle capable of lifting the modern world out of serious economic disintegration. The depression will end when adequate New Deal style policies are implemented, and not before, as I show in my new book, the second edition of Surviving the Cataclysm.

TODAY: BETWEEN 1929 AND 1931

Today, therefore, we are so to speak in the trough between the October 1929 wave (which corresponds to the derivatives crisis and banking panic of 2008) in the September 1931 wave, which this time around is highly likely to take the form of a hyperinflationary dollar crisis, or in other words a hyper stagflation and depression of the world economy radiating out from Wall Street and the City of London. What then might be the leading characteristics of the next wave of the current world economic breakdown crisis?

The next wave is likely to involve a worldwide dollar panic. Using ballpark figures, we can say that there are about $4 to $5 trillion sloshing around the world in the form of hot money, U.S. Treasury securities, Euro dollars, and various forms of zeno-dollars. Japan has about a trillion, China almost $2 trillion, and so forth. It is naturally very unwise for a developing country like China to hold so many dollars rather than using them to purchase needed infrastructure and capital goods, and the Chinese leaders are now very uncomfortable with their own foolish decision, which was of course taken under heavy US pressure. But the point is that this $4.5 trillion overhang is by its very nature exceedingly unstable. Every country that holds large sums of dollars or US treasury bonds is nervously eyeing every other such country to see if they show signs of bolting for the exit. Up to now, so far as we know, no large holder of dollars has attempted to reduce its exposure to the battered greenback by dumping these dollars on the international market. If anyone did so, would cause a true universal financial panic which would create chaos and mayhem not just in the United States and Great Britain, but in the vast areas of the rest of the world as well. This is concretely how hyperinflation could now very well arise: if one or more US creditor nations attempts to abruptly lighten up on dollars, the value of the US currency could undergo a catastrophic collapse, and that would spell runaway hyperinflation on the US domestic front.

WORLD DOLLAR PANIC IMMINENT?

We need to recall that the value of a modern currency is not determined inside the country, but rather on the international foreign exchange markets. This is where the fatal vulnerability of the US dollar is located. In the ruined form of the Bretton Woods system which has prevailed for almost 40 years since Nixon’s colossal historical vandalism of August 15, 1971, the US has emerged as the only country with a permanent license to finance imports by simply printing more of its own currency and sending those banknotes overseas. Every other country has to manufacture and export something that others want to buy in order to earn the necessary foreign exchange to pay for its own imports. The US license to print has made this country the buyer of last resort and the dumping ground for the unsold junk of the world, leading in the process to high permanent unemployment here. There are many signs that this inherently unworkable arrangement has now reached the breaking point.

INTERNATIONAL CURRENCY RELATIONS, NOT MONEY SUPPLY, ARE THE KEY

Ms. Ellen Brown, who apparently supports the doctrines of the social credit movement of the 1930s, has recently argued that deflation is now on the agenda, and that hyperinflation can be ruled out. She bases this analysis on the fact that the private credit markets in this country have largely collapsed, and on the contention that the M1 and M2 money parameters have either declined or increased only slightly. But all of this is beside the point. The Federal Reserve and the Treasury have so far provided almost $13 trillion of new loans to banks, insurance companies, credit card companies, and other purely financial institutions. This is being done in an effort to bailout the $1.5 quadrillion world derivatives bubble, of which something like two thirds or more, meaning one quadrillion dollars, can be located inside the dollar zone. The world depression started when this derivatives bubble went into reverse leverage, meaning that super losses instead of super profits were generated at the apex of the speculative pyramid, as seen in the case of $3 trillion AIG hedge fund located in London. The Obama regime is engaged in an hysterical attempt to restart derivatives production in the form of securitization, i.e. the creation of more and better asset backed securities derivatives. At the same time, the Obama regime has cynically and deliberately driven the Detroit automakers into bankruptcy, destroying hundreds of thousands of the few remaining industrial jobs here in the United States. This means that US industrial production continues in drastic decline. The mere mention of production reminds us that the assorted Austrian, Chicago, and social credit schools are predominantly or exclusively concerned with money and banking, and pay little or no attention to industrial, agricultural, and infrastructural production, meaning of course that they neglect the creation of those tangible physical use values, capital goods, and related forms of real wealth upon which human existence depends. With bailouts increasing and all forms of commodity production declining, we have the classic situation of far too much money chasing too few goods. Internal pressure towards hyperinflation comes from the fact that the bailout and public debt lending, on top of the bloated, fictitious, and exponentially growing mass of kited derivatives, are all charges which must be added to the prices of commodity production. Add this to the more important factor of looming dollar panic in the international exchanges, and the preponderance of the evidence points towards hyperinflation. Helicopter Ben Bernanke got his name from his famous recipe of throwing bales of dollars out of helicopters onto the lawns of bankers to stimulate the economy out of a depression, and this reminds us that the profile of the Anglo-American financial leadership from Gordon Brown, Alistair Darling, and Mervyn King to Summers, Geithner, and Bernanke is decidedly hyperinflationary. Ms. Brown’s belief that hyperinflation is impossible is therefore mistaken.

The German 1923 hyperinflation was generated internationally, not within Germany, as a campaign of economic warfare by Britain and France against theior defeated rival. Germany had signed the Rapallo agreements with Soviet Russia, creating an economic combination which was more than a match for the Anglo-French. To abort the potential of Rapallo by creating chaos in the German economy, the Anglo-French systematically destroyed the value of the German Reichsmark on the international exchanges, taking advantage of the Versailles reparations system and the French occupation of the industrialized Ruhr area. The mark went down every day when the London exchange rate was announced. Today, it is the enormous international dollar overhang which threatens to annihilate the US greenback.

The one way deflation might actually come about is if someone like the self-professed Austrian school ideologue Ron Paul were to take power. Ron Paul’s “libertarian” alternative to Obama’s continued bailouts of Wall Street is evidently an immediate deflationary crash, which he asserts will be followed by an automatic recovery. Ron Paul is a modern representative of the so-called liquidationist school to which 1920s Treasury Secretary Andrew Mellon belonged. Mellon demanded the liquidation of stocks, bonds, real estate, and labor. German Chancellor Heinrich Brüning, another liquidationist, savagely cut German unemployment benefits (Ron Paul’s “nanny state”) at the height of the Depression, helping to bring on the debacle of January 1933. Liquidationists tend to be people who have money and who believe they will continue to have money even after an all-out crash, when they will be able to buy up distressed assets and desperate unemployed workers for rock-bottom prices and cash in. But liquidationism obviously cannot be a solution to depression of the entire society.

The recent meetings of the leaders of the expanded G-8 countries in L’Aquila, Italy were marked by a growing awareness that the US dollar, because of the criminally irresponsible policies of the Wall Street financiers who have dominated the Bush and Obama administrations, can no longer play the role of the single world reserve currency. Russian President Medvedev showed off a sort of future world coin to try to prod the Obama regime in the direction of serious world monetary reform, which is of course the urgent task before everyone. Naturally, finance oligarchs like Summers, Geithner, and Bernanke want to continue to play the role of world currency dictators, and not be forced to negotiate the end of Anglo-American hegemonism. The world needs to go towards a new pro-growth world monetary system in which the euro, the yen, the dollar, the ruble, the Chinese currency, a possible Latin American monetary unit, and a possible Arab monetary unit would all be included. It will be important to make the transition toward such a new system as orderly as possible, since a catastrophic collapse of the dollar in the short term would be to no one’s advantage, and would rather represent a sure path to universal ruin. World economic growth rates under the 1944 to 1971 Bretton Woods system were the highest in recorded history before or since. This was accomplished through statism and dirigism in the form of narrow bands of isolation among the currencies, combined with gold settlements of surpluses and deficits among the nations, which provided an indispensable reality principle to restrain the hyperinflationary tendencies of the Anglo-Americans. The new world monetary system should include the abolition of the International Monetary Fund and the World Bank in their current forms, since these institutions have strangled the economic progress of the developing sector. Rather, the goal of the new monetary system should be to restart the export of high technology capital goods of the most modern type from Europe, Japan, and the United States towards the impoverished countries of Africa, South Asia, and certain parts of Latin America.

THE FEDERAL GOVERNMENT SHOULD STOP BORROWING AND START LENDING

Here in the United States, we need to wipe out the derivatives bubble with the help of a 1% Tobin tax or securities transfer tax, on all speculative financial transactions, including futures, options, stocks, bonds, commodities, foreign exchange, and so forth. A California Tobin tax would solve the state budget crisis. The top 16 Wall St. banks are zombie institutions that need to be seized and liquidated under Chapter 7 bankruptcy at once, with all of their derivatives going into the shredder. Foreclosures on homes, farms, and businesses should be banned outright for five years or for the duration of the depression, which ever lasts longer. To provide a credit supply, the Federal Reserve should be seized and nationalized, and used as a vehicle to issue 0% Federal credit for productive activities only, not for speculation. To revive credit demand, state and local governments could then take out 0% Federal loans for such long overdue projects as the construction of 1,000 hospitals, the building of 50,000 miles of modern maglev rail systems, and 100 fourth-generation, high temperature, pebble bed nuclear reactors, plus the rebuilding of water systems and the interstate highway network. Idled auto plants should be reconverted for these purposes. Science drivers in the fields of space exploration and colonization, high energy physics, and biomedical research should also be fully funded in this way to provide technological modernization. The social safety net needs to be expanded and developed, with larger Social Security pensions for a generation whose 401(k)s and IRAs have been largely destroyed, along with increased Medicare and Medicaid benefits for those whose insurance companies are insolvent, like AIG and The Hartford, which have been devastated by derivatives speculation. These are quite simply the requirements for the maintenance of human civilization in this part of the world. Until measures like these are carried out, the United States and the world will continue to sink deeper into the bottomless pit of economic depression.

Wednesday, August 05, 2009

Monday, August 03, 2009

a•sym•met•ri•cal |ˌāsəˈmetrikəl| adjective

having parts that fail to correspond to one another in shape, size, or arrangement; lacking symmetry: It makes sense that having received asymmetrical damage from the planes on 9/11, the Twin Towers would have fallen asymmetrically, but instead the Twin Towers fell in complete symmetry into their own footprint just like a controlled demolition.

In honor of "500 Days of Summer"



Sweet movie.