Daily Archives: January 8, 2013

US ‘seriously’ considering $1 trillion coin to pay off debt

gold-coin_2156797b
A legal loophole means the US Treasury is able to mint a platinum coin and assign any value to it. Photo: Peter Macdiarmid/Getty Images

The US is “seriously” considering creating a $1 trillion platinum coin to write down part of its debt to stop the world’s largest economy defaulting as early as next month, according to financial analyst Cullen Roche.

A ‘Double Eagle’ gold twenty dollar coin is displayed at Goldsmith’s Hall in London. Nearly half a million of these coins were originally minted in the middle of the Great Depression in the US. Only 13 are known today after the rest were melted down before they ever left the US Mint, sacrificed as part of a strategy to stabilise the American economy. In 2002 a Double Eagle sold at auction for $7.6 million.

Telegraph | Jan 7, 2013

By Rebecca Clancy

Speaking to the BBC’s Today programme, Mr Roche, founder of Orcam Financial Group and blogger at Pragmatic Capitalism, said the idea was being taken “somewhat seriously” in Washington.

“I know it’s been spoken about at the White House and a number of prominent people, including congressman, are talking about it,” he said.

In theory the US Treasury would mint the coin and deposit it into its own account at the Federal Reserve, which would allow the government to write down or cancel $1 trillion of its $16.4 trillion debt pile.

The Treasury began shuffling funds in order to pay government bills after the country hit its $16 trillion debt limit on December 31. However, the Treasury’s accounting maneouvres will last only until around the end of February as the latest fiscal cliff deal gives US politicians two months to raise the debt limit before the country defaults.

The idea, which was raised last year, has been floated by several financial analysts in the States over recent days as Congress and the government approach the key fiscal vote.

Mr Roche said the idea was an “accounting gimmick”, but noted it was just “one really silly idea [being used] to fight another silly idea”.

“The idea of the US willingly defaulting on debt is beyond crazy,” he said.

“We started kicking the idea around a year ago and it was really a joke and the fact it’s become something sort of serious, well it’s a sad state of affairs that it’s become so dysfunctional in Congress that this is something we’re having to resort to.”

Writing in his New York Times blog, economist Paul Krugman, said that while he did not expect the Treasury to go ahead with this “gimmick”, there could be a case for it.

“This is all a gimmick — but since the debt ceiling itself is crazy, allowing Congress to tell the president to spend money then tell him that he can’t raise the money he’s supposed to spend, there’s a pretty good case for using whatever gimmicks come to hand,” he said.

Mr Roche also did not expect the Treasury to go ahead and mint a $1trillion coin, but said President Obama could use it as threat.

“I don’t think it’s something that will end up being used but I think that if it comes down to it we could potentially see the President use this as something where he says, ‘look if you’re going to threaten to default on debt then I’m going to threaten to use the coin loophole’.”

There are limits on how much paper money the US can circulate and rules that govern coinage on gold, silver, and copper.

But, the Treasury has broad discretion on coins made from platinum, and in theory, it is allowed to mint a platinum coin and assign any value to it.

However, it is worth noting that this was intended to issue commemorative coins and not as a fiscal measure, Mr Krugman said.

Pravda: Americans never give up your guns

What they hate is guns in the hands of those who are not marching in lock step of their ideology. They hate guns in the hands of those who think for themselves and do not obey without question.

Pravda | Dec 28, 2012

By Stanislav Mishin

gunThese days, there are few things to admire about the socialist, bankrupt and culturally degenerating USA, but at least so far, one thing remains: the right to bear arms and use deadly force to defend one’s self and possessions.

This will probably come as a total shock to most of my Western readers, but at one point, Russia was one of the most heavily armed societies on earth. This was, of course, when we were free under the Tsar. Weapons, from swords and spears to pistols, rifles and shotguns were everywhere, common items. People carried them concealed, they carried them holstered. Fighting knives were a prominent part of many traditional attires and those little tubes criss crossing on the costumes of Cossacks and various Caucasian peoples? Well those are bullet holders for rifles.

Various armies, such as the Poles, during the Смута (Times of Troubles), or Napoleon, or the Germans even as the Tsarist state collapsed under the weight of WW1 and Wall Street monies, found that holding Russian lands was much much harder than taking them and taking was no easy walk in the park but a blood bath all its own. In holding, one faced an extremely well armed and aggressive population Hell bent on exterminating or driving out the aggressor.

This well armed population was what allowed the various White factions to rise up, no matter how disorganized politically and militarily they were in 1918 and wage a savage civil war against the Reds. It should be noted that many of these armies were armed peasants, villagers, farmers and merchants, protecting their own. If it had not been for Washington’s clandestine support of and for the Reds, history would have gone quite differently.

Moscow fell, for example, not from a lack of weapons to defend it, but from the lying guile of the Reds. Ten thousand Reds took Moscow and were opposed only by some few hundreds of officer cadets and their instructors. Even then the battle was fierce and losses high. However, in the city alone, at that time, lived over 30,000 military officers (both active and retired), all with their own issued weapons and ammunition, plus tens of thousands of other citizens who were armed. The Soviets promised to leave them all alone if they did not intervene. They did not and for that were asked afterwards to come register themselves and their weapons: where they were promptly shot.

Of course being savages, murderers and liars does not mean being stupid and the Reds learned from their Civil War experience. One of the first things they did was to disarm the population. From that point, mass repression, mass arrests, mass deportations, mass murder, mass starvation were all a safe game for the powers that were. The worst they had to fear was a pitchfork in the guts or a knife in the back or the occasional hunting rifle. Not much for soldiers.

To this day, with the Soviet Union now dead 21 years, with a whole generation born and raised to adulthood without the SU, we are still denied our basic and traditional rights to self defense. Why? We are told that everyone would just start shooting each other and crime would be everywhere….but criminals are still armed and still murdering and too often, especially in the far regions, those criminals wear the uniforms of the police. The fact that everyone would start shooting is also laughable when statistics are examined.

While President Putin pushes through reforms, the local authorities, especially in our vast hinterland, do not feel they need to act like they work for the people. They do as they please, a tyrannical class who knows they have absolutely nothing to fear from a relatively unarmed population. This in turn breeds not respect but absolute contempt and often enough, criminal abuse.

For those of us fighting for our traditional rights, the US 2nd Amendment is a rare light in an ever darkening room. Governments will use the excuse of trying to protect the people from maniacs and crime, but are in reality, it is the bureaucrats protecting their power and position. In all cases where guns are banned, gun crime continues and often increases. As for maniacs, be it nuts with cars (NYC, Chapel Hill NC), swords (Japan), knives (China) or home made bombs (everywhere), insane people strike. They throw acid (Pakistan, UK), they throw fire bombs (France), they attack. What is worse, is, that the best way to stop a maniac is not psychology or jail or “talking to them”, it is a bullet in the head, that is why they are a maniac, because they are incapable of living in reality or stopping themselves.

The excuse that people will start shooting each other is also plain and silly. So it is our politicians saying that our society is full of incapable adolescents who can never be trusted? Then, please explain how we can trust them or the police, who themselves grew up and came from the same culture?

No it is about power and a total power over the people. There is a lot of desire to bad mouth the Tsar, particularly by the Communists, who claim he was a tyrant, and yet under him we were armed and under the progressives disarmed. Do not be fooled by a belief that progressives, leftists hate guns. Oh, no, they do not. What they hate is guns in the hands of those who are not marching in lock step of their ideology. They hate guns in the hands of those who think for themselves and do not obey without question. They hate guns in those whom they have slated for a barrel to the back of the ear.

So, do not fall for the false promises and do not extinguish the light that is left to allow humanity a measure of self respect.

No End to Coldest China Winter in 28 Years, Forecaster Says

china ice
A group of people walk beneath a bridge on a frozen lake at the Summer Palace in Beijing on Dec. 27, 2012. Ed Jones/AFP/Getty Images

Bloomberg News | Jan 6, 2013

Southern China will be hit by a new cold front this week, extending the country’s chilliest winter in 28 years, the country’s weather agency said.

Temperatures in Southern provinces including Guangdong will dip to as low as minus 5 degrees Celsius (23 degrees Fahrenheit) on Jan. 11 and 12, the China Meteorological Administration said in a statement yesterday. Provinces including Guizhou and Hunan may experience snowstorms, it said.

The cold weather will prove challenging as the Chinese Lunar New Year holiday approaches, with icy rain and snow disrupting transportation, power supplies and electricity networks, the agency said.

Snow, ice and fog have caused havoc on the nation’s roads and at train stations and airports, according to reports from the Xinhua News Agency and China Daily.

Record cold, smaller crop may make Chinese ginger scarce, pricey

Coldest winter hits China

China’s Coldest Winter in 28 Years Hurts Wheat Crop, Center Says

Two people died and 770,000 people have been affected by record-low temperatures and snow in Inner Mongolia in northern China, Xinhua said yesterday, citing the local government. More than 260,000 people are in need of emergency aid and about 180,000 head of livestock have died, according to the report.

More than 10,000 people were stranded at Chengdu airport in southwest Sichuan province yesterday after heavy fog caused authorities to close the airport and ground more than 100 flights, Xinhua said in a separate report.

Fog also reduced visibility to as little as 300 meters (328 yards) at the Kunming Changshui International Airport in southwest Yunnan province, leading to “massive flight delays” since Jan. 3, according to the China Daily newspaper.
Heavy Losses

Four people died and 64 others were injured in three separate road accidents in eastern China yesterday, Xinhua said, citing information from local authorities. Slippery road conditions from persistent rain and snow over the past few days may have caused the accidents, traffic police were cited as saying.

Freezing weather created a layer of thick sea ice on Laizhou Bay in eastern Shandong province, leaving about 1,000 vessels stranded, according to a separate Xinhua report. Aquatic producers in the region may face heavy losses as they can’t penetrate the ice to provide ventilation for sea cucumbers and other fish in their farms, the agency said.

Bilderberg Bangs War Drums; Pushes Obama to Bomb Iran

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By James P. Tucker Jr.Bilderberg Bangs War Drums; Pushes Obama to Bomb IranBilderberg luminary Dennis Ross celebrated Christmas by banging his war drums in a campaign to prod President Barack Obama into killing Palestinians and Iranians on behalf of Israel. Americans would, again, spill most of the blood and would finance the military operation. Israel will pay a share of the costs with your tax dollars.

In a Bilderberg-staged interview with The Washington Post published on December 23, Ross, who was an advisor to President Obama, made the case for invading Iran in 2013. Ross embraced the earlier warhawking by Senators John McCain (R-Ariz.) and Joe Lieberman (I-Conn.).

After seven years of war talk but no gunfire, 2013 will “finally bring a break in the Iranian standoff—by means of a military confrontation, the appearance of an Iranian bomb or a diplomatic deal of some kind,” Jackson Diehl wrote of his interview with Ross. “And interestingly, one of the people making that case is Obama’s first-term advisor on Iran, Dennis Ross, who has worked on the Middle East in five administrations.”

Ross said three factors point to war on Iran: “an approaching Iranian ‘breakout’ capacity; Obama’s stated determination to prevent it; and the slow emergence of an economic and political climate in Iran that could prompt Supreme Leader Ali Khamenei to change course.”

In a series of meetings with Israeli Prime Minister Benjamin Netanyahu, Obama said publicly, “It is unacceptable for Iran to have a nuclear weapon.” Ross added, “If by the end of 2013 diplomacy hasn’t worked, the prospects for the use of force becomes quite high.”

Iran signed on to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) and passes inspections each year. Israel is known to have a huge nuclear weapons stockpile dating back decades but refuses to sign the NPT and is never inspected.

 

Bilderberg Group Dominates Bloomberg Billionaires Index

Globalist Report | Jan 4, 2013

by Andrew Puhanic

bilderbergBilderberg Group, an organisation founded in 1954 by the global elite has once again dominated the Bloomberg Billionaires Index.

So what is the Bilderberg Group? The Bilderberg Group is a secretive organisation who meets on a yearly basis to discuss political and economic issues that pertain to the Globalist Agenda. Many of the members of the Bilderberg Group are derived from both Government and Private organisations.

All Bilderberg Group meetings are held in secret, with no official record of who attends, the agenda and what deals have been agreed.

Records of Bilderberg Group participant lists are usually smuggled out from within the organisation by insiders and / or are published in their ‘official’ website (Many names are missing from their official list of attendees).

Ever since the Bilderberg Group was founded, very few records of the organisations agenda have ever been publicized. In fact, since 1954, there has been a media blackout on Bilderberg Group reporting.

Only recently have Activists been successful in forcing the main-stream media to report on Bilderberg Group meetings.

The following tables reveal official Bilderberg Group members who have been listed on the Bloomberg Billionaires Index.

 

Rank Name Estimated Net Worth Bilderberg Group Attendance (Year)
2 Bill Gates $63.4 Billion 2010
4 Warren Buffett $49.8 Billion 2009
8 Larry Ellison $40.7 Billion 1999
9 Bernard Arnault $29.8 Billion 1992
20 Jeff Bezos $24.1 Billion 2011
26 George Soros $21.6 Billion 1999

 

So why should we be worried about the Bilderberg Group? THE primary concern with the activities of the Bilderberg Group is not the fact that the global elite are meeting with heads of states and government officials (That’s never going to end), it’s the fact that they meet in secret, behind closed doors without any record of what was discussed and or agreed.

Full Story

 

TSA screener arrested and fired, for stealing $36 from the passenger’s suitcase

wsoctv.com | Jan 6, 2013

By Tina Terry

Reggie Edwards stole $36 from the victim's suitcase. He was charged with larceny under $50

Reggie Edwards stole $36 from the victim’s suitcase. He was charged with larceny under $50

CHARLOTTE, N.C. — A Transportation Security Administration screener at Charlotte Douglas International Airport was arrested and fired after he was accused of stealing from a passenger.

According to a Charlotte-Mecklenburg police report, the 52-year-old Reggie Edwards stole $36 from the victim’s suitcase. He was charged with larceny under $50

Passengers just hearing about the news were outraged.

“The employees are supposed to be protecting our land from future terrorist attacks, not stealing from fellow Americans,” said Jimmy Demopoulos

Edwards was fired for the incident and a TSA Spokesman said in a statement Sunday that “TSA does not tolerate theft and moved immediately to terminate this individual.”

Eyewitness News went to an address listed for Edwards on Sunday. A man answered the door and then slammed it shut.

About 380 TSA officers have been fired for theft between 2003 and 2012, but the agency said that number represents less than one half of one percent of officers that have been employed.