How Greece Could Take Down Wall Street

In an article titled “Still No End to ‘Too Big to Fail,’” William Greider wrote in The Nation on February 15th:

Financial market cynics have assumed all along that Dodd-Frank did not end “too big to fail” but instead created a charmed circle of protected banks labeled “systemically important” that will not be allowed to fail, no matter how badly they behave.

“That may be, but there is one bit of bad behavior that Uncle Sam himself does not have the funds to underwrite: the $32 trillion market in credit default swaps (CDS).  Thirty-two trillion dollars is more than twice the U.S. GDP and more than twice the national debt. 

“CDS are a form of derivative taken out by investors as insurance against default.  According to the Comptroller of the Currency, nearly 95% of the banking industry’s total exposure to derivatives contracts is held by the nation’s five largest banks: JPMorgan Chase, Citigroup, Bank of America, HSBC, and Goldman Sachs.  The CDS market is unregulated, and there is no requirement that the “insurer” actually have the funds to pay up.  CDS are more like bets, and a massive loss at the casino could bring the house down.

“It could, at least, unless the casino is rigged.  Whether a “credit event” is a “default” triggering a payout is determined by the International Swaps and Derivatives Association (ISDA), and it seems that the ISDA is owned by the world’s largest banks and hedge funds.  That means the house determines whether the house has to pay. The Houses of Morgan, Goldman and the other Big Five are justifiably worried right now, because an “event of default” declared on European sovereign debt could jeopardize their $32 trillion derivatives scheme.  According to Rudy Avizius in an article on The Market Oracle (UK) on February 15th, that explains what happened at MF Global, and why the 50% Greek bond write-down was not declared an event of default. 

“If you paid only 50% of your mortgage every month, these same banks would quickly declare you in default.  But the rules are quite different when the banks are the insurers underwriting the deal. ” …

But there is yet another level of intrigue here: who is running the show at the credit ratings agencies (S&P, Moodys) which are playing such a big part in this meltdown?  Why, the same people who own the TBTF banks, which after all are shell companies whose assets are long gone to secret offshore accounts.  The idea is to bring down the entire financial infrastructure.  The endgame which will create such desperation that people will willingly follow the savior puppets who lead the public arm of global governance.

Syria: Clinton Admits US “Allied” with Terrorists

Allied isn’t really the right word here.  The US is orchestrating the destabilization of syria utilizing its terrorist assets such as al qaeda, which is a wholly owned subsidiary of CIA Inc, as former UK foreign minister Robin Cook admitted years ago. ( ) and which is obvious to anyone who isn’t still under the spell of the corporate/governmental psyop operation known as the mainstream media.

“There is ample evidence that teams of snipers who have been killing civilians over the past year in Syria belong to the terrorist formations to which Clinton is referring to.  As Michel Chossudovsky points out in a recent article: “Since the middle of March 2011, Islamist armed groups – covertly supported by Western and Israeli intelligence – have conducted terrorist attacks directed against government buildings, including acts of arson. Amply documented, trained gunmen and snipers, including mercenaries, have targeted the police, armed forces as well as innocent civilians. There is ample evidence, as outlined in the Arab League Observer Mission report, that these armed groups of mercenaries are responsible for killing civilians. 

While the Syrian government and military bear a heavy burden of responsibility, it is important to underscore the fact that these terrorist acts – including the indiscriminate killing of men, women and children – are part of a US-NATO-Israeli initiative, which consists is supporting, training and financing  ‘an armed entity’ operating inside Syria.” [2]

 “The admission at the weekend by Hillary Clinton corroborates the finding that armed groups are attacking civilians and these groups are terroristic, according to US own definitions, and that the situation in Syria is not one of unilateral state violence against its population but rather is one of a shadowy armed insurrection.

 “Clinton’s admission retrospectively justifies the stance taken by Russia and China, both of which vetoed the proposed UN Security Council Resolution on 4 February, precisely because that proposal was predicated on a spurious notion that the violence in Syria was solely the responsibility of the Al Assad government.”

The idea they’re pursuing is to force the syrian government to militarize domestically, which will interfere with commerce like food distribution and create what the psyop media calls collateral damage.  Destabilization can take many forms, from arming and financing militarized groups in libya to murdering school teachers in nicaragua to bombing water plants in iraq to shooting random passers-by in syria to waging a “war on drugs” while smuggling tons of cocaine and heroin into the USA.  Problem/reaction/solution.  9/11 was just more of the same.

It’s not necessary to know the specific individuals and financial entities behind this to see that there’s a pattern here which is leading to the domestic militarization of the USA itself.  Obviously we’re not dealing with  misguided hyperpatriots here.  We’re dealing with a new type of hypercriminality which knows no borders.  Privatized currency is what finances its operations.  As long as the ability to create and control money is in private hands, anything that can be bought with money can be used as a tool in the game. Including universities.   One only needs to “endow” the departments that are saying what one wants to hear.  All too many status-seeking academics are quite happy to follow the money, and most people will follow whoever claims to be a leader if they have the “intellectual” trappings of such.

Why would so many cooperate?  Because they’re being sold a bill of goods about a new utopian global government that will finally bring world peace.  But what they don’t seem to know is that WWI and WWII were caused by the same financial oligarchy that’s running the globalization game.   A lucrative business model has grown into an overarching philosophy of borderless war.

When there are no borders, the war turns inward.

Fake NGO’s & POGO

“Corporate-Funded Lap-Dog Watchdogs, AntiWar.Com, Whistleblowers & Bradley Manning

“Last year, in our series ‘Mega Corporate Foundations’ Lap-Dogs’ we took on pseudo-whistleblower watchdog organization Project on Government Oversight (POGO) and their consistent betrayal of legit government whistleblowers, their corporate sugar-daddies such as Soros-Rockefellers-Carnegie, and their incestuous relationship with the Executive Branch, especially the White House. You can read our coverage here, here, and here.  We also produced a video report on POGO begging the obvious question: Who’s Watching the Watchdogs” …

Fukushima & What May Be in Store for US Reactors

“During the nuclear catastrophe at the Fukushima Daiichi nuclear power plant in Japan’s northeast last March, the world watched in horror as conditions in the plant deteriorated by the day. Despite public reassurances that the situation was under control, we now know that three of the plant’s reactors actually began meltdown within hours and that plans were being made at the highest levels of the Japanese government to evacuate Tokyo, the world’s most populous metropolitan area.

“In effect, the world was given a crash course in cascading nuclear failure. What many do not know is that the damaged reactors were designed by General Electric, rely on 40-year-old containment technology, and are substantially similar to 32 reactors currently operating around the world, including 23 in the United States.

“This is our EyeOpener Report by James Corbett, presenting you with the history of and GE’s role in development of boiling water reactors and the Mark 1 containment vessel system used in the damaged Fukushima reactor which has been focus of fierce criticism for at least 40 years, and the criminal complicity of government regulators in failing to enforce their own policies and regulations on these aging reactors, not only in Japan, but in the US as well.”

Owners of the World Apply the Screws to Iran

“The commercial pressure on India has begun to show. The Indian Export Credit Guarantee Corporation, which underwrites the risk of Indian exporters, said that it would not halt insurance cover for exports to Iran but that it is become “very cautious” and “will try to keep our exposure at the minimum level.”

“With the Turkiye Halk Bankasi unable to provide third-party financial intermediation and with Dubai-based middlemen unable to easily deal with Iranian firms, about US$3 billion in Iranian arrears against Indian traders have built up since December 2010. These commercial headaches have soured India-Iran business relations.

“On February 24, SWIFT, the main financial messaging service for international money transfers, threatened to cut Iran out of its network. The Society for Worldwide Interbank Financial Telecommunications (as SWIFT is less commonly known) deals with about 10,000 member banks and transmits 17 million financial messages per day. In 2010, 19 banks and 25 financial institutions in Iran transmitted 2 million messages through the SWIFT network.” …

This is what the myth of “free trade” is all about: monopolization and control.

NDAA Nullification Passes Virginia Senate

“Today, the Virginia Senate took a firm stand in support of liberty, the Constitution for the United States, and the Constitution of Virginia by voting in favor of House Bill 1160 (HB1160), the “NDAA Nullification Act.”The final vote was 39-1.

“After a motion to recommit (delay until next year) went down to the wire before being rejected yesterday (report here), groups across the political spectrum activated in support of the legislation, which codifies in law that no agency of the Commonwealth of Virginia – including defense forces and national guard troops, will comply with or assist the federal government in any way under it’s newly claimed powers to arrest and detain without due process.” …

Israel to attack Iran without US permission: Report

“Israeli official say they will not alert the US if they decide to launch a military strike on Iranian nuclear facilities amid growing war threats against Tehran.

“An unnamed US intelligence official said Israelis argue that if they keep Washington in the dark, it is unlikely that the US would be held responsible for failing to stop Israel’s potential assault. ” …

True enough.  But it seems far more likely that the US pushed for this plausible deniability.  Israel wouldn’t dare jeopardize the military response that they expect from the US when they attack Iran.

Ed Asner Says Navy SEALS Have Warned Him of False Flag for Iran Attack

Appearing on the Alex Jones Show on Monday, Emmy Award-winning actor Ed Asner said Navy Seals have told him military action against Iran is forthcoming and will be preceded by a false flag attack.

Asner told Alex and his nationally syndicated radio show audience that the Seals are attempting to alert the American people about the prospect of a false flag operation and “more foreign escapades” before the establishment media “starts brainwashing us.”

Reality check: I know nothing about Ed Asner.  But it makes sense that whistleblowers fearful of O’s unprecedented war on leaks would resort to celebrities as conduits to the public.

Medical Psychopaths Argue Killing Newborns is OK

“A paper published in the Journal of Medical Ethics argues that abortion should be extended to make the killing of newborn babies permissible, even if the baby is perfectly healthy, in a shocking example of how the medical establishment is still dominated by a eugenicist mindset.

“The paper is authored by Alberto Giubilini of Monash University in Melbourne and Francesca Minerva at the Centre for Applied Philosophy and Public Ethics at the University of Melbourne.

“The authors argue that “both fetuses and newborns do not have the same moral status as actual persons,” and that because abortion is allowed even when there is no problem with the fetus’ health, “killing a newborn should be permissible in all the cases where abortion is, including cases where the newborn is not disabled.”

““The fact that both are potential persons is morally irrelevant,” the authors claim, arguing that adoption is not a reasonable counter-argument because the parents of the baby might be economically or psychologically burdened the process and the mother may “suffer psychological distress”. How the mother could not also “suffer psychological distress” by having her newborn baby killed is not explained.” …

Published in a mainstream medical journal.  Hmmm.

Transparency in all things