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Topic Summary

Posted by: AGelbert
« on: July 17, 2017, 09:12:02 pm »

WTC 1 and 2 I will always contend were also brought down.  The video footage that day showed clear puffs of smoke going out twenty feet at ninety degree angles at the corners of the towers a second before they began to fall.  The ninety degree puffs were simultaneous but each floor went off in succession from the top down.  I recall one newscaster even making a comment about it. 

https://en.wikipedia.org/wiki/Barbara_Olson announced what would happen on late night T.V. two weeks before the towers went down and she was on one of the planes.  I believe she knew too much.  I know what I saw and that won't change until I like these two truths which I will always remember while I breath blow in the wind.

We live in a photo-shopped future and are lied to every day.


I agree 100%.  It has always boggled my mind that America could believe 9/11 was perpetrated by some terrorist with box cutters.  The official story is obnoxiously obscene.  There are more holes in the official story than your average colander.  You don't have to be an expert of anything to look at the facts about 9/11 and know that the official story is a bunch of lies.  But WTC-7 was always the smoking gun.  They didn't even cover it's collapse in the government 9/11 report...not a word about it...they just officially ignored it.  But watch the footage.  It is obviously a planned demolition.  It literally disappears in a matter of seconds.  You've got to be smoking some strong **** to believe the official 9/11 story. 

Mike Ruppert tore that **** apart with Crossing the Rubicon


Agreed. There is going to be hell to pay when the public finally realize how this 9/11 mega-grand larceny disguised as a "terrorist attack" asset stripped trillions of dollars from we-the-people.


Posted by: AGelbert
« on: July 17, 2017, 07:46:46 pm »


9/11 - What Happened to the Passengers?

NRUN65

1,890,263 views

Published on Sep 26, 2016

9/11 revisited - This video examines evidence of the impossibility of the airborne cell phone calls from the nine passengers that were indicated on the Caller-ID's of the recipients as recorded in FBI reports. The technology for such calls did not exist in 2001 (refer to video description). If the cell phone calls could not have been made from the planes in the air, where were they made from? If those cell phone calls were not made in the air, the "19-Hijacker Conspiracy Theory" is seriously damaged.

This video is a portion of the excellent 5-hour 9/11 investigative film "September 11 - The New Pearl Harbor" by Massimo Mazzucco. For the complete 5-hour film (separated into 3 parts) click the links at the bottom.

Prior to 2004 cell phone calls from fast high flying aircraft were impossible because of the technology then in use.

But in 2004 Qualcomm Incorporated announced in a July 15, 2004 press release:
"American Airlines and Qualcomm Complete Test Flight to Evaluate In-Cabin Mobile Phone Use" [ https://www.qualcomm.com/news/release... ]:
"Qualcomm Incorporated...and American Airlines today successfully demonstrated in-cabin voice communication using commercially available CDMA mobile phones on a commercial American Airlines aircraft...
The proof-of-concept demonstration flight originated out of the Dallas/Fort Worth International airport. During the approximate two-hour flight, passengers were able to place and receive phone calls and text messages on their mobile phones....'We are pleased to have worked so closely with American Airlines to complete this proof-of-concept demonstration for the in-flight use of 3G CDNA technology,' said Dr. Irwin Jacobs, chairman and CEO of Qualcomm..."

On 9/11, people receiving cell calls allegedly from the hijacked aircraft reported the unusual clarity of the calls - as if they were calling from the next room. However, cell phone calls in the Qualcomm demonstration, "...was about the same as a regular cell call on the ground, other than the loud background noise on the MD-80 jet."
[ http://usatoday30.usatoday.com/tech/w... ]

This lack of background noise could make one wonder if those cell calls were really being placed from the inside of a hijacked jetliner in flight.

Remote controlled aircraft? - http://www.journalof911studies.com/vo...

There is evidence that Flight 77 and Flight 11 were not even scheduled to fly on 9/11.....not that they were scheduled and subsequently canceled - but that a Flight 77 and a Flight 11 were never scheduled in the first place - passengers aren't booked on flights which do not exist.

Prior to sometime in 2004 the Bureau of Transportation Statistics (BTS) website for September 11, 2001 showed no record of a Flight 77 or a Flight 11[ Evidence that Flights AA 11 and AA 77 Did Not Exist on September 11, 2001 - http://www.serendipity.li/wot/aa_flts... ]. Then, in 2004, Flight 11 and Flight 77 were "added" to the BTS data for 9/11/2001 but they show no departure time nor an aircraft tail number - this link includes a screen capture of the "new" Flight 11 data: http://letsrollforums.com//happened-p...

Back in 2003 when the evidence to invade Iraq was being pushed to get public support it seemed more than a bit shady so I began looking into questions then being aired about the 9/11 attacks - and this 9/11 flight scheduling anomaly came to light. When I went to the Bureau of Transportation website, I found the same information as shown in the links below:

Flight 93 - UA: Newark, NJ — Newark International http://www.serendipity.li/wot/aa_flts...

Flight 175 - UA: Boston, MA — Logan International http://www.serendipity.li/wot/aa_flts...

Flight 11 - AA: Boston, MA — Logan International http://www.serendipity.li/wot/aa_flts...

Flight 77 - AA: Washington, DC — Washington Dulles International http://www.serendipity.li/wot/aa_flts...

September 11 - The New Pearl Harbor (Full version) - Part 1 of 3 https://www.youtube.com/watch?v=I5ppQ...

September 11 - The New Pearl Harbor (Full version) - Part 2 of 3 https://www.youtube.com/watch?v=ahPo6...

September 11 - The New Pearl Harbor (Full version) - Part 3 of 3 https://www.youtube.com/watch?v=haVF4...
Posted by: AGelbert
« on: July 17, 2017, 06:50:08 pm »

9/11 Trillions: Follow The Money
Published on Sep 11, 2015

TRANSCRIPT, SOURCES AND MP3: https://www.corbettreport.com/?p=16167

Forget for one moment everything you've been told about September 11, 2001. 9/11 was a crime. And as with any crime, there is one overriding imperative that detectives must follow to identify the perpetrators: follow the money. This is an investigation of the 9/11 money trail.

JULY 14, 2017
CIA Agent Confesses On Deathbed: ‘We Blew Up WTC7 On 9/11’ 

By Baxter Dmitry

July 14, 2017 “Information Clearing House” – 79-year-old retired CIA agent, Malcom Howard, has made a series of astonishing claims since being released from hospital in New Jersey on Friday and told he has weeks to live. Mr. Howard claims he was involved in the “controlled demolition” of World Trade Center 7, the third building that was destroyed on 9/11.

Mr. Howard, who worked for the CIA for 36 years as an operative, claims he was tapped by senior CIA agents to work on the project due to his engineering background, and early career in the demolition business.

Trained as a civil engineer, Mr. Howard became an explosives expert after being headhunted by the CIA in early 1980s. Mr. Howard says has extensive experience in planting explosives in items as small as cigarette lighters and as large as “80 floor buildings.”

The 79-year-old New Jersey native says he worked on the CIA operation they dubbed “New Century” between May 1997 and September 2001, during a time he says the CIA “was still taking orders from the top.” Mr. Howard says he was part of a cell of 4 operatives tasked with ensuring the demolition was successful.

Mr. Howard says the World Trade Center 7 operation is unique among his demolitions, as it is the only demolition that “we had to pretend wasn’t a demolition job”. He claims he had no problem going through with the deception at the time, because “when you are a patriot, you don’t question the motivation of the CIA or the White House. You assume the bigger purpose is for a greater good. They pick good, loyal people like me, and it breaks my heart to hear the **** talk.”

But even he admits that now, looking back, “Something wasn’t right.”

“No good has come from this. This isn’t the America we envisioned.”


Explaining how the building was bought down, Mr. Howard says, “It was a classic controlled demolition with explosives. We used super-fine military grade nanothermite composite materials as explosives. The hard part was getting thousands of pounds of explosives, fuses and ignition mechanisms into the building without causing too much concern. But almost every single office in the Building 7was rented by the CIA, the Secret Service, or the military, which made it easier.”

Mr. Howard explains that WTC 7 was “loaded with explosives in strategic places” in the month leading up to the day that changed the course of American history. On September 11th, while the North and South towers burned, fuses were ignited in World Trade Center 7, and nanothermite explosions hollowed out the building, destroying the steel structure, removing the reinforcements, and allowing the office fires to tear through the rest of the building, hollowing it out like a shell.

World Trade Center 7 collapsed into its own footprint at 5:20pm, seven hours after the destruction of WTC 1 and 2. The building shocked witnesses by coming down at the speed of freefall, indicating that it encountered zero resistance on the way down.

Mr. Howard and his colleagues had done their job.

“When the building came down, it was such a rush. Everything went exactly to plan. It was so smooth. Everybody was evacuated. Nobody was hurt in WTC 7. We were celebrating. We kept watching replays of the demolition, we had the whiskey and cigars out, and then all of a sudden the strangest thing happened. We all started to worry that it looked a bit too smooth. We watched the tape again and again and again and we started to get paranoid. It looked like a controlled demolition. We thought ****, people are going to question this. And then we heard that people from the street were reporting that they heard the explosions during the afternoon. When we were told that the BBC botched their report and announced to the world that the building collapsed 20 minutes before it actually did… At that point we really thought the gig was up.”


According to the official 9/11 report issued by the government, WTC 7 collapsed due to “uncontrolled fires” that were caused by debris that floated over from WTC 1 and 2, which had been hit by passenger planes. If the official narrative was true, WTC 7 would be the first tall building in the world to ever collapse due to uncontrolled fires, and the only steel skyscraper in the world to have collapsed into itself, due to “office fires.”

Mr. Howard and his colleagues feared the public would see through the official narrative and rise up against the government, demanding to be told the truth.

“There were so many loose ends, so much evidence left behind. We thought the public would be all over it. We thought there would be a public uprising that the media couldn’t ignore. They’d be funding investigations and demanding to know why they were being lied to. We thought they’d find chemical composites in the area that would prove Building 7 was blown up.

“We thought there would be a revolution. It would go all the way to the top, to President Bush. He’d be dragged out of the White House.

“But none of that happened. Almost nobody questioned anything. The media shot down anyone who dared question anything they were told.”

Follow the money

Mr. Howard claims he has “no direct knowledge” about the destruction of North and South Towers of the World Trade Center, explaining that “CIA operations are very specific” and that it is common to be working on a larger project while only understanding a small piece of the puzzle.

[9/11: Larry Silverstein Designed New WTC-7 One Year Before Attacks]

But he has advice for investigators seeking to understand the entire puzzle and work out who was behind the most devastating attack on American soil in history.

“Follow the money.”

“When you want to find out who is behind something, just follow the money. Look at the trades made just before 9/11. These are the guys that knew what was coming. The sons of CIA agents, government officials. Close relatives of the most powerful men in America. Cheney, Rumsfeld. They all got rich. It wasn’t just the contracts awarded to their friends in the construction business and the wars and the kickbacks.”

“It was insider trading.”

Many countries including Britain, France, Germany, Italy, Japan and Monaco launched insider trading investigations in the wake of the 9/11 attacks, believing that if they could prove Al-Qaeda operatives profited on the stock market then they could prove the terror organization was behind the attacks.

And all the evidence pointed to heavy insider trading around 9/11.

Italy’s foreign minister, Antonio Martino, said: “I think that there are terrorist states and organizations behind speculation on the international markets.” German central bank president, Ernst Welteke, said his researchers had found “almost irrefutable proof of insider trading.”

Even CNN reported that regulators were seeing “ever-clearer signs” that someone “manipulated financial markets ahead of the terror attack in the hope of profiting from it.”

Mr. Howard says that a serious study of who profited on the stock market from 9/11 would “tear the heart out of the oligarchy in America.”

“There is only one organization that spans the entire world, and let me tell you now, it isn’t and it never was al-Qaeda.”

It’s the CIA.

“There could never be a real investigation. The entire shadow government, as you call them now, are implicated.”

The 79-year-old, spending his final weeks at home, said he doesn’t expect to be taken into custody following his confession because “then they’d have to go after everyone else. They will just use the media to attack me. They are all on the payroll to suppress everything around 9/11.”

Baxter Dmitry is a writer at Your News Wire. He covers politics, business and entertainment. Speaking truth to power since he learned to talk, Baxter has travelled in over 80 countries and won arguments in every single one. Live without fear. – Email: baxter@yournewswire.com – Follow: @baxter_dmitry

This article was first published by Your News Wire –

http://www.informationclearinghouse.info/47440.htm

Videos at link:

https://counterinformation.wordpress.com/2017/07/14/cia-agent-confesses-on-deathbed-we-blew-up-wtc7-on-911/
Posted by: AGelbert
« on: July 14, 2017, 09:30:20 pm »

Global Capitalism: Evaluating 6 months of the Trump/GOP economy [July 2017]


Published on Jul 12, 2017
Fan of Economic Update with Prof. Richard Wolff? The show is now available on YouTube! Support the show on Patreon: https://www.patreon.com/economicupdate

Global Capitalism: "Evaluating 6 months of the Trump/GOP economy"
with Richard D. Wolff
Co-sponsored by Democracy at Work,
Left Forum & Judson Memorial Church

These programs begin with 30 minutes of short updates on important economic events of the last month, then Wolff analyzes several major economic issues. For July 2017, these issues will include:

1. The G-20 meeting in Hamburg: austerity and protectionism

2. Wrong debate in Seattle: minimum wage vs unemployment

3. The UBER-type scam is very old


Our goal: To develop all participants’ understanding and ability to explain current economic events and trends to others. We open the floor to questions and comments when time permits.
Posted by: AGelbert
« on: July 14, 2017, 02:43:56 pm »

Thanks to Wall Street, Average Joe Can Now Bet Against America


July 12, 2017

On tonight’s Big Picture, Thom talks with Richard Wolff about the Fed’s plan to begin unwinding a stimulus within months. Then he talks with Bryan Pruitt and Doug Christian about a recent poll where a Majority Of GOP’ers say colleges are bad for America, that somehow we can afford military jets but not universal healthcare, and a planned day of action for net-neutrality.
Posted by: AGelbert
« on: July 12, 2017, 01:48:20 pm »

Seattle Targets the CROOKS stealing from we-the-people (i.e. the "Rich")
 


Seattle Answers Trump's War on Workers by Taxing the Rich

TheRealNews

Published on Jul 11, 2017

The measure faces an imminent legal challenge, but co-sponsor Kshama Sawant  says the Tax the Rich movement will persevere 

Posted by: AGelbert
« on: July 04, 2017, 05:20:29 pm »

Agelbert NOTE: The French are divesting from major assets in Trumpland, for some reason. I can't imagine why.  ;)

CMA CGM Sells 90 Percent Stake in Port of Los Angeles Container Terminal

July 3, 2017 by Reuters

PARIS, July 3 (Reuters) – French container shipping firm CMA CGM said on Monday it had agreed to sell a 90 percent Stake in Port of Los Angeles Container Terminal.


CMA CGM will retain a 10 percent interest in the Global Gateway South terminal after the deal with funds EQT Infrastructure and its partner P5 Infrastructure, the company said in a statement.

The terminal came under CMA CGM’s ownership through its 2015 takeover of Singapore’s Neptune Orient Lines (NOL), a $2.4 billion deal that marked the Marseille-based group’s biggest-ever acquisition.

CMA CGM said the sale would help it pay down debts following the NOL takeover and that it was part of its strategy of focusing on shipping. At the time of the NOL takeover, CMA CGM said it aimed to make divestments of $1 billion after reviewing assets.

The acquisition of NOL, which operated under the commercial name APL, handed CMA CGM market leadership in trans-Pacific routes, with a strong presence on the U.S. west coast.

The NOL acquisition was part of a wider consolidation in the container shipping industry in the midst of a deep downturn in the past few years due to overcapacity and faltering global economic growth.

CMA CGM has posted a profit since the end of last year, supported by a recovery in NOL’s operating results.

BNP Paribas and HSBC acted as financial advisors on the deal, CMA CGM said. (Reporting by Gus Trompiz; writing by Leigh Thomas, editing by David Evans)

(c) Copyright Thomson Reuters 2017.

http://gcaptain.com/cma-cgm-sells-90-percent-stake-port-los-angeles-container-terminal/

WHO BOUGHT THE TERMINAL FACILITIES? ??? I'm glad you asked.  ;D

EQT Infrastructure to acquire majority interest in Global Gateway South terminal in Port of Los Angeles

MON, JUL 03, 2017 01:00 EST

EQT Infrastructure to acquire a majority interest in Global Gateway South, a leading container terminal in the Port of Los Angeles operating under a long-term concession.

EQT Infrastructure will partner with P5 Infrastructure to transform Global Gateway South into a global leader in trade infrastructure.

Seller CMA CGM, the world’s third largest shipping line and the largest on the Asia-US trade route, will retain 10% ownership and sign a long-term utilization agreement with the terminal.

The EQT Infrastructure III fund (“EQT Infrastructure” or “the fund”) has signed a definitive agreement to acquire 90% of Global Gateway South (“GGS” or “the company”), a leading terminal in the North American Port of Los Angeles, with an enterprise value of USD 875 million. EQT Infrastructure has partnered with port operating firm P5 Infrastructure (“P5”) to develop a value creation plan aimed at transforming GGS into a world class operation. Current owner, CMA CGM, will retain a 10% ownership stake in GGS and has entered into a long-term contract as the largest customer of the terminal.

The Port of Los Angeles, together with the Port of Long Beach, form the largest and most important gateway in North America for growing transpacific trade flows. GGS is the third largest terminal in the Ports of Los Angeles and Long Beach in terms of capacity, and operates under a long-term concession that runs through 2043. The terminal provides intermodal container handling services to shipping lines including stevedoring, intermodal/truck services, storage and maintenance, and is on track to handle over one million containers in 2017. GGS benefits from a superior waterfront location and berth depth that enables the terminal to accommodate the latest and future generations of large container ships. These characteristics, together with an ideal layout and superior rail connectivity, position GGS to become one of the most relevant and efficient terminals in North America.

EQT Infrastructure and P5 have developed a plan to transform GGS from an asset operated as a cost center, into a leading North American terminal in terms of capacity and efficiency. The strategy includes significant capital investments in cranes, other handling equipment and technology to increase capacity and efficiency. The growth of the company will be supported by an industrial Board of Directors with significant ports and container shipping expertise.

Lennart Blecher, Head of Real Assets and Deputy Managing Partner at EQT, Investment Advisor to the fund, said: “The acquisition of GGS fits perfectly with EQT Infrastructure’s focused sector approach of targeting high-quality, well-located logistics assets with transformation potential. The combination of P5’s and EQT’s vast industrial expertise will be a great foundation for sustainable value-creation for the terminal. We are also very happy with CMA CGM’s continued support and engagement”.

Farid Salem, Executive Officer of CMA CGM, said: “We are very pleased to partner with EQT Infrastructure. Together we will develop GGS into a world class terminal company. The terminal will remain an important part of our industry leading logistics network, and will have an opportunity to grow alongside CMA CGM. Throughout the sales process, EQT Infrastructure and P5 have focused on growth in addition to a responsible, hands-on ownership approach, which we consider highly beneficial  to our future partnership”.

Sean Pierce, CEO of P5 Infrastructure stated, “We look forward to investing alongside EQT Infrastructure and implementing our value creation strategy in order to deliver value for our shareholders, partners and employees”.

The transaction is subject to customary conditions. It is expected to close in the fourth quarter of 2017.

Jefferies LLC acted as sole financial advisor and Allen & Overy LLP acted as legal advisor to EQT Infrastructure.

Contacts:
Alex Darden, Partner at EQT Partners, Investment Advisor to EQT Infrastructure, +1 (917) 281 0849
EQT Press Office, +46 8 506 55 334
Mat Goldsmith, Director of P5 Infrastructure, +1 (646) 872 5267

About EQT
EQT is a leading alternative investments firm with approximately EUR 37 billion in raised capital across 24 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More information: www.eqtpartners.com

About P5 Infrastructure
P5 Infrastructure is a port infrastructure investment company, focused on owning and operating port and port related infrastructure. P5 seeks fort infrastructure investments where our operating team’s expertise and our proprietary management systems can be applied to drive productivity, increase revenue and reduce costs.

About CMA CGM
CMA CGM, founded by Jacques R. Saadé, is a leading worldwide shipping group. Its 445 vessels call more than 370 ports in the world on all 5 continents. In 2016 they carried 15.6 million TEU (twenty-foot equivalent units). Now headed by Rodolphe Saadé, CMA CGM enjoys a continuous growth and keeps innovating to offer its customers new maritime, terrestrial, and logistical solutions. With a presence in 160 countries and through its 600 agencies network, the Group employs 29,000 people worldwide, including 2,400 in its headquarters in Marseilles.

More information: www.cma-cgm.com 


https://news.cision.com/eqt-ab/r/eqt-infrastructure-to-acquire-majority-interest-in-global-gateway-south-terminal-in-port-of-los-ange,c2301121


Agelbert NOTE:
I have a feeling the buyers are Fascist Republicans. I can't image why. 

Posted by: AGelbert
« on: June 29, 2017, 08:10:24 pm »

Noam Chomsky Destroys Libertarianism


RethinkingLife

Published on Jun 5, 2017



Posted by: AGelbert
« on: June 29, 2017, 08:00:20 pm »

Noam Chomsky Explains How Republicans Lie About Social Security To Destroy It  >:(

RethinkingLife

Published on Jun 8, 2017
Posted by: AGelbert
« on: June 28, 2017, 10:33:17 pm »

Dr. Richard Wolff - The Death Economy, Opioids & Capitalism Exposed


June 27, 2017

Big Picture Interview: Economist Dr. Richard Wolff, Capitalism's Crisis Deepens Essays on the Global Economic Meltdown/Democracy At Work. As Republicans push for this murderous healthcare, Americans are literally dying, increasingly as a result of opioid overdoses. Does this omnipresence of death in American society tell us something about capitalism?


Posted by: AGelbert
« on: June 27, 2017, 02:06:56 pm »

DoctorWhom,
UB (otherwise known as Uncle Bob) is a Libertarian, more or less. IOW, he believes all those social programs are baloney. I totally disagree with him on that score, and have given him "Da Bidness"   on it several times in the past. At any rate, I suspect he was rather pleased to see someone win (Trump) who wants to drown government in a bathtub while the 1% cheer. That is, to UB, a "good" thing because it will make all the "lazy bums" out there have to "work for a living".

That is precisely the mindset that gave UB, who  lives in Australia, a DEAD GIANT CORAL REEF called the Great Barrier Reef.

UB, you are a smart man, but your ideology lacks empathy. Yes, I know you have your own rather convenient view of how much "empathy" humans need to have to be "emotionally healthy". Good luck with that self centered attitude, Doctor, while the biosphere goes to hell in a profit over people and planet Libertarian, greed based, HAND BASKET.


I am all for smaller less intrusive govt. What Social programs i think we can do without need to be specific.  I believe in free healthcare   , free education    including trade     and tertiary with conditions like real competence   , and social security   , again with certain conditions  ;). I dont believe someone incapacitated or has been in jail the last 5 yrs should be expected to find work and have no other income  . I don't agree with paying someone effectively 100$ a week for every additional child they have. I've seen single mothers with 6 children on incomes of 1100-1200$ a week. Of course they do have a boyfriend, but he is never admitted living together. Incentivizing this    instead of a little hand me down usually does none of those 6 children any favours.

I considered Trump winning last november a hail mary pass there was a chance he meant what he was saying about less military intervention around the world and reversing the slide toward world war 3. I expected at least half to be disappointed. I enjoyed his humiliation of the msm, and both clintons, especially bringing r a p  e victims to debates, but never really trusted him. Its clear now, it was all an act and not one word he uttered was earnest.


You are a doctor of the mind and you knew darned good and well the carnival barker, con artist, narcissistic, empathy deficit disordered manipulator that Trump was, and is, from the start. I do not have your insight, your credentials or your experience, yet I knew what he was up to from the start. While I celebrate the fact that you have come around to seeing Trump as he really is, I insist that the only reason you didn't see him that way earlier is that you were blinded by "free market" ideology. I find it hard to believe that you were swayed by Trump's anti-Clinton talk. A con artist will use the truth to disparage a competitor if he can, which is what Trump did. But you should have known that Trump could care less about even the most heinous acts perpetrated by the Clintons. Of course Clinton was a non-choice. But that did not make Trump the choice.

The Green Party Candidate was, once Sanders was railroaded, the only ethical choice. You did not support her because of your ideology, UB.

I could have a very long conversation with you involving first causes as to why your belief that people on welfare have a pecuniary incentive to have children is based on ideology, not cause and effect in society and government. But I wont simply because you assume that it is blatantly obvious that people are all about taking a free ride when they are given an opportunity. That is part of your ideology. I agree many are like that. But they did not get that way because they were born that way. But like I said, this is like a well (deep subject  ;D).

At any rate, I'm glad you and yours are still healthy. May you continue to do well. 
Posted by: AGelbert
« on: June 26, 2017, 08:14:21 pm »

Reinventing the Economy to End Oppresion - Our system is Foundationally Corrupt

Jun. 23, 2017 5:50 pm


On tonight’s Big Picture, Thom discusses the human rights movement and its connection to the economy with activist and author Peter Joseph.  As runaway global warming continues to accelerate and the gap between rich and poor - there is a sense among many that our civilization is in crisis. What’s causing this crisis? And how do we move beyond the broken status quo and literally design a better future? Those big questions are at the heart of social critic and activist Peter Joseph's new book, "the New Human Rights Movement: Reinventing the Economy to End Oppression."

Then, Thom talks to Phillip Stucky of the Daily Caller and Alex Lawson of Social Security Works about GOP senators opposing the Senate’s version of a healthcare bill and Donald Trump doing a big favor for the Big Pharma industry.
Posted by: AGelbert
« on: June 25, 2017, 02:57:33 pm »

Barclays Executives Charged with Paying $400 Million in Kickbacks to Qatar

June 25, 2017

The charges filed by Britain's Serious Fraud Office against Barclays Bank executives are unprecedented explains Ian Fraser, author of "Shredded: Inside RBS The Bank That Broke Britain"


http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=19375
Posted by: AGelbert
« on: June 18, 2017, 01:35:04 pm »


What Happens When The Oil Economy Collapses?

June 17th, 2017 by Zachary Shahan

SNIPPET:

The question is simple and stark, but there will be a gradient of effects, and side-effects, and after-effects. As the oil economy collapses, the world will change. And it will change a great deal.

Let’s start with some of the basics.

Oil company values — which are currently topping the charts — will collapse. That means that certain investors (many investors) will “lose money,” or see their net worth drop. To put this into a little more perspective, we highlighted recently that Tesla [TSLA] has passed the US “Big 3” automakers in market cap, currently sitting at $60.15 billion (compared to GM at $51.73 billion and Ford at $44.76 billion). Meanwhile, Exxon’s market cap sits at $354.59 billion, Chevron’s market cap is $204.76 billion, and Saudi Aramco’s expected to be valued at $1–10 trillion.


Venezuela today; the USA tomorrow? ???


Some of our top commenters have made it clear — the oil bubble could collapse at any moment.

Full article with GREAT comments guaranteed to give fossil fuelers Excedrin Headache number 666. :

https://cleantechnica.com/2017/06/17/happens-oil-economy-collapses/

Agelbert Commentt reply to a fellow that said Big Oil was being forced to transition Renewable Energy: Big Oil has done the "invest in green tech" head fake before, even while they kept funding denier stink tanks and astro-turf pseudo-science propagandists yammering about the sun "getting weaker" and the "greening of the earth" from all that extra CO2 our loyal servants from the fossil fuel industry are providing at "no charge".

"Beyond Petroleum" for BP?  Transition by  Shell? Nope!

As you said, big Oil will transition eventually to Green Clean Tech, but ONLY when they have no other option under the law. Until then they will continue to drag their feet and defend polluting profit over people and planet with tooth and corruption claw.

This essay clearly lays out the fact that the Fossil Fuel Industry faces huge liability issues in the immediate future simply because there is ample evidence that they have deliberately sabotaged government efforts to transition to Renewable Energy for several decades. Their criminal behavior is not just Criminal Negligence", but actually mens rea criminal involving premeditated harm to the public welfare. That is why the fossil fuel giants like Exxon have always done everything they could to make the courts their handmaidens (SEE: the remedy for the Exxon Valdez damage reduced to ONE TENTH of the initial amount by the Supine Supreme Court).

Why is Big Oil and Gas so apparently  suicidal and stubborn, when they have the capital in their coffers to totally transition to Renewable Energy?

SEE BELOW:


As Zach pointed out, Big Oil is part of the global economy. When Big Oil goes down ,and they will, the economy takes a massive hit. That "hit" will depend on how far along any particular segment of the global economy has gone towards a 100% transition to Renewable Energy. New Zealand is getting there. Denmark, Iceland, Scotland, Finland and Portugal, as well as Germany are doing great as well. But the USA, Russia and ALL the other petro-states except maybe Qatar (Qatar is moving in the right Renewable Energy direction - hence fossil fuel tool Trump's attempt to demonize them) will be the most negatively impacted by the collapse of the oil based global economy.

But there is another aspect of risk that human civilization is increasing by delaying the total transition, not just away from fossil fuels, but to an ACTIVE biosphere remediation program to return to 350 PPM of CO2.

This risk is about the coming gigantic ocean storm and wave activity. This is not hyperbole. Two peer reviewed scientific studies published over the last two years predict ocean wave activity beyond the ability of present ship design.

I wrote a rather long (practically a mini-e-book) a while ago in three parts. The bottom line on the risk to our civilization in general and global shipping in particular is laid out in the third part. 

People need to know what we are facing. People need to know the fossil fuel industry knows the score and does not care. They are the bad guy here.


Climate Change, Blue Water Cargo Shipping and Predicted Ocean Wave Activity: PART THREE

SNIPPET from the above article:

Global Civilization is threatened within 25 years or less by the scientifically predicted ocean surface wave activity in the Hansen et al June 2015 study * and the Dutton et al July 2015 study ** evidencing a 6 to 25 meter (19 to 82 feet!) sea level increase in the geological record when the CO2 parts per million (PPM) atmospheric concentration was between 300 and 400PPM. As of October of 2015, the CO2 concentration is at 400PPM. It is increasing at over 3PPM per year.

* Atmos. Chem. Phys. Discuss., 15, 20059–20179, 2015 doi:10.5194/acpd-15-20059-2015 © Author(s) 2015. CC Attribution 3.0 License.

Ice melt, sea level rise and superstorms: evidence from paleoclimate data, climate modeling, and modern observations that 2 C global warming is highly dangerous
J. Hansen1, M. Sato1, P. Hearty2, R. Ruedy3,4, M. Kelley3,4, V. Masson-Delmotte5, G. Russell4, G. Tselioudis4, J. Cao6, E. Rignot7,8, I. Velicogna8,7, E. Kandiano9, K. von Schuckmann10, P. Kharecha1,4, A. N. Legrande4, M. Bauer11, and K.-W. Lo3,4

www.atmos-chem-phys-discuss.net/15/20059/2015/
http://www.atmos-chem-phys-discuss.net/15/20059/2015/acpd-15-20059-2015.pdf

** Science 10 July 2015: Vol. 349  no. 6244  DOI: .1126/science.aaa4019 

Sea-level rise due to polar ice-sheet mass loss during past warm periods
A. Dutton1,*,  A. E. Carlson2,  A. J. Long3,  G. A. Milne4,  P. U. Clark2,  R. DeConto5,  B. P. Horton6,7,  S. Rahmstorf8,  M. E. Raymo9
 
http://www.sciencemag.org/content/349/6244/aaa4019.abstract
Posted by: AGelbert
« on: June 17, 2017, 02:35:58 pm »

Agelbert NOTE: Here the biological logic of closing the high seas to fishing (Dr. Lubchenco calls it the Wet West - referring to the "Wild West" term because anything goes and there is ZERO respect for sustainability) is mentioned, although also pointed out by Dr. Lubchenco is the fact that major governmetns refuse to do so. 

As Economist P. Dasgupta laments, collective action to stop, or even ameliorate, this crisis consistently fails to be achieved, even though we are basically out of time for additional delays.

Biological Extinction | Discussion #6

Casina Pio IV



Published on Mar 2, 2017

How to Save the Natural World on Which We Depend

PAS-PASS Workshop
Casina Pio IV, 27 February-1 March 2017

On our 4.54 billion year old planet, life is perhaps as much as 3.7 billion years old, photosynthesis and multi-cellularity dozens of times independently around 3.0 billion years old, and the emergence of plants, animals, and fungi onto land, by at least the Ordovician period, perhaps 480 million years ago, forests appearing around 370 million years ago, and the origin of modern groups such as mammals, birds, reptiles, and land plants subsequently. The geological record shows that there have been five major extinction-events in the past, the first of them about 542 million years ago, and suggests that 99% of the species that ever lived (5 billion of them?) have become extinct. The last major extinction event occurred about 66 million years ago, at the end of the Cretaceous Period, and, in general, the number of species on earth and the complexity of their communities has increased steadily until near the present.

Agelbert additional NOTE:  The global warming crisis is itself a symptom of the world view that gave us people like Trump. Unless he starts a nuclear war, he won't kill most of us; but Catastrophic climate change certainly will.

The source of the current and worsening crisis is lack of ethics among government and business elites.

Even though we ARE bordering on collapse, it is due to a concentration of ill gotten profits in a tiny group of rapacious oligarchs, not because the money is not there.

The Wall Street Capitalist "logic" has been debunked over and over. Privatization ALWAYS increases costs to society, not the other way around, as Wall Streeters fervently, and erroneously, believe.

The reason for that has been clearly laid out by eminent economists who do all the math, not just the convenient parts that 'justify' perpetual growth, on the costs human business activity on the biosphere we all require to live.

The "logic" of the business community is that IF a COST is not placed on exploiting the resources of the biosphere in an unsustainable (i.e. POLLUTION PRODUCING) manner, a de facto INCENTIVE exists, according to economic theory, to engage in rapacious biosphere damaging business practices. This, OF COURSE, assumes, as Capitalism's flawed economics education also seems to assume, that ethics play NO ROLE WHATSOEVER in business strategy and decisions to engage in whatever.

This is not only patently false, it is eventually suicidal in a finite resource environment (i.e. our biosphere).
ETHICS has been eschewed by Capitalists to the detriment of, not just the rest of us, but the biosphere as well. This incredibly short sighted attempt to claim monetary PROFIT obtained regardless of Social Costs INCURRED, BUT NOT PAID, is the be-all-end all of economics is sophistry at its worst. It is willful and deliberate cherry picking of what costs apply and what costs are "external". IOW, it's IRRATIONAL thinking passed off as "fiduciary responsibility to corporate profits".

This eminent economist (P. Dasgupta) exposes the ethical bankruptcy of this "incentive to be unethical" (Economic Theory of Income Accounting instead of the more comprehensive, BUT NOT USED, Wealth Accounting) in the following video (go to T7:29):

P. Dasgupta is answering a question asked of him at the time point I just gave you. He discusses flow accounts versus stocks and the historical reasons for it. He discusses the problems with measuring GDP.


SEE BELOW the results of Capitalist "economics" cherry picked "cost efficient privatization" over nationalization:


Posted by: AGelbert
« on: June 12, 2017, 10:10:27 pm »

Agelbert Note: A discussion about Capital (i.e. money for investment in environmental sustainability), Natural Capital, Biosphere Pollution and much more:   


Biological Extinction | Discussion #9

Casina Pio IV


Published on Mar 2, 2017
How to Save the Natural World on Which We Depend

PAS-PASS Workshop
Casina Pio IV, 27 February-1 March 2017
Posted by: AGelbert
« on: June 12, 2017, 02:03:30 pm »

Sunday, June 11, 2017

By William Rivers Pitt, Truthout | Op-Ed



We Are Not Broke: Trashing the Austerity Lies

Agelbert NOTE: A die hard Profit over Planet Capitalist weighs in with the typical baloney. I answer it.  ;D

didactic1  

Rivers clearly knows little about finance or business. Close the loopholes and you won't collect dollar for dollar more revenue. Assets can be sold, transferred, or converted to securities. By all means have public ownership of utilities, fuel resources, health and banking. But don't expect capitalists to turn over significant amounts of now untaxed income.


agelbert > didactic1

You clearly know little about William Rivers Pitt.

Yes, we ARE bordering on collapse. But it is due to a concentration of ill gotten profits in a tiny group of rapacious oligarchs, NOT because the money is not there.

Your "logic" has been debunked over and over. Privatization ALWAYS increases cost to society, not the other way around, as you fervently, and erroneously, believe.

The reason for that has been clearly laid out by eminent economists who do ALL the math on the costs human business activity on the biosphere we all require to live.

The "logic" of the business community is that IF a COST is not placed on exploiting the resources of the biosphere in an unsustainable (i.e. POLLUTION PRODUCING) manner, a de facto INCENTIVE exists, according to economic theory, to engage in rapacious biosphere damaging business practices. This, OF COURSE, assumes, as your economics education also seems to assume, that ethics play NO ROLE WHATSOEVER in business strategy and decisions to engage in whatever.

This is not only patently false, it is eventually suicidal in a finite resource environment (i.e. our biosphere).

ETHICS has been eschewed by capitalists like you to the detriment of, not just the rest of us, but the biosphere as well. This incredibly short sighted attempt to claim monetary PROFIT obtained regardless of Social Costs INCURRED, BUT NOT NOT PAID, is the be-all-end all of economics is sophistry at its worst. It is willful and deliberate cherry picking of what costs apply and what costs are "external". IOW, it's IRRATIONAL thinking passed off as "fiduciary responsibility to corporate profits".

This eminent economist P. Dasgupta exposes the ethical bankruptcy of this "incentive to be unethical" (Economic Theory of Income Accounting instead of the more comprehensive, BUT NOT USED, Wealth Accounting) in the following video (go to T7:29):
P. Dasgupta is answering a question asked of him at the time point I just gave you. He discusses flow accounts versus stocks and the historical reasons for it. He discusses the problems with measuring GDP.


SEE BELOW the results of Capitalist "economics" cherry picked "cost efficient privatization" over nationalization:




http://www.truth-out.org/opinion/item/40903-we-are-not-broke-trashing-the-austerity-lies
Posted by: AGelbert
« on: June 07, 2017, 08:35:47 pm »

Inequality For All: A Visual Story

by Prof. Robert Reich

https://www.sandersinstitute.com/blog/inequality-for-all-a-visual-story
Posted by: AGelbert
« on: May 31, 2017, 09:46:40 pm »

Richard Wolff On The New Socialism

May 30, 2017

Big Picture Interview: Economist Dr. Richard Wolff, Capitalism's Crisis Deepens Essays on the Global Economic Meltdown/Democracy At Work. It's not just Bernie Sanders - democratic socialism is on the rise all over the Western world right now. How can the resurgent left seize this moment - and the means of production?
Posted by: AGelbert
« on: May 30, 2017, 06:01:11 pm »

Robert Reich : Universal Basic Income 

Published on May 26, 2017

Posted by: AGelbert
« on: May 24, 2017, 07:49:45 pm »


Economic Update: Rising Costs of Capitalism's Failures

Democracy at Work

Published on Apr 30, 2017
Posted by: AGelbert
« on: May 18, 2017, 07:25:06 pm »



Puerto Rico Debt Crisis: 'A Great Depression That Doesn't End'  :(


Published on May 17, 2017

Journalist, author, and Democracy Now! co-host Juan González says the Puerto Rican debt crisis, now entering a critical bankruptcy phase, results from a legacy of U.S. colonial domination and predatory Wall Street debt.
Posted by: AGelbert
« on: May 17, 2017, 08:45:56 pm »

Dr. Richard Wolff: The Return of Progressivism Around the World


Thom Hartmann Administrator's picture
May. 17, 2017 11:01 am

Economist Dr. Richard Wolff, Capitalism's Crisis Deepens Essays on the Global Economic Meltdown/Democracy At Work. It's not just Bernie Sanders - left-wing populists like the UK's Jeremy Corbyn are on the rise all over the world. The media calls them radicals - but are they actually just old-school FDR progressives?

For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!



Posted by: AGelbert
« on: May 15, 2017, 02:44:37 pm »


https://theintercept.com/2017/05/09/puerto-ricos-123-billion-bankruptcy-is-the-cost-of-u-s-colonialism/

Puerto Rico’s $123 Billion Bankruptcy Is the Cost of U.S. Colonialism
Juan González

May 9 2017, 5:23 a.m.
Leia em português ⟶

Last week Puerto Rico officially became the largest bankruptcy case in the history of the American public bond market. On May 3, a fiscal control board imposed on the island’s government by Washington less than a year ago suddenly announced that Puerto Rico’s economic crisis had “reached a breaking point.” The board asked for the immediate appointment of a federal judge to decide how to deal with a staggering $123 billion debt the commonwealth government and its public corporations owe to both bondholders and public employee pension systems.

The announcement sparked renewed press attention to a Caribbean territory that many have dubbed America’s Greece. The island’s total debt, according to the control board, is unprecedented for any government insolvency in the U.S., and it is certain to mushroom quickly if no action is taken. Detroit’s bankruptcy, by comparison, involved just $18 billion — one-ninth the size of Puerto Rico’s.

Within days, Supreme Court Chief Justice John Roberts, acting under a provision of the Puerto Rico Oversight, Management, and Economic Stability Act (known as PROMESA), which was enacted last June, appointed federal Judge Laura Taylor Swain from the Southern District of New York to take over the Puerto Rico case. A former bankruptcy court judge who was appointed to the federal court by President Clinton, Swain famously presided over the long criminal trial of employees of the Bernie Madoff Ponzi scheme.

Few press reports on Puerto Rico’s troubles, however, have bothered to examine the deeper issues behind this crisis.


PUERTO RICO - JANUARY 01: Governer'S Place Party In Puerto Rico. (Photo by Keystone-France/Gamma-Keystone via Getty Images)

First, the colonial relationship that has prevailed between the U.S. and Puerto Rico since 1898 is no longer viable. Puerto Rico is the largest overseas territory still under the sovereign control of the United States, and it is the most important colonial possession in this nation’s history. That relationship produced uncommon profits for American subsidiaries on the island for more than a century, even as the federal government kept claiming that the Commonwealth of Puerto Rico, created in 1952, was a self-governing territory. But now, with a Washington-appointed board directly overseeing the island’s economy, and with a pivotal Supreme Court decision last year affirming that Congress continues to exercise sovereign power over Puerto Rico, the mask of self-governance has been removed.

The old commonwealth is effectively dead. Absent a huge infusion of U.S. public dollars to prop up its collapsing economy, a scenario that is nearly impossible with a Trump White House and a Republican-controlled Congress, that relationship cannot be revived. Political leaders in both Washington and San Juan, whether they like it or not, are being propelled to fashion a new political and economic status for the territory. They will have to finally decide whether to completely annex Puerto Rico as the 51st state or acknowledge that it still remains a distinct nation, with the right to its own sovereignty and independence.

Second, the impact of Puerto Rico’s bankruptcy will continue to reverberate throughout the U.S. bond market, far more than most Wall Street analysts have so far acknowledged. The PROMESA control board has warned that even with massive cuts to government services and new projected revenues from higher taxes and fees, Puerto Rico will still generate slightly less than $8 billion in budget surpluses over the next 10 years, when some $35 billion in debt service comes due. In other words, three-quarters of the debt cannot be repaid. That is not just a haircut for bondholders; it is a head-shaving, one that will send shock waves throughout the municipal bond market. After all, bonds backed by the full faith-and-credit of local government entities have long been considered among the safest of investments.

Years of court battles between Puerto Rico and contending groups of creditors are now certain. “The economy of Puerto Rico will be put on hold for years,” Andrew Rosenberg, adviser to the Ad Hoc Group of Puerto Rico General Obligation Bondholders, told the Associated Press. “Make no mistake: The board has chosen to turn Puerto Rico into the next Argentina.”


A Puerto Rican flag painted on the doorway of an abandoned building in San Juan, Puerto Rico, on May 1, 2016. Photo: Erika P. Rodriguez/Bloomberg News/Getty Images

The Debt Is Not Payable

Civil society groups contend that the plunder of the Puerto Rican people through predatory and even illegal bond deals that island politicians concocted together with top Wall Street firms will now be exposed.

Amazingly, the 23-page petition that the federal government’s own financial control board filed in U.S. District Court in San Juan reached the exact same conclusion that Puerto Rico’s former Gov. Alejandro García Padilla reached back in June 2015 — that the island’s debt is “not payable.”

In the nearly two years since García Padilla sounded the alarm, however, Washington has done almost nothing to alleviate the economic catastrophe afflicting 3.4 million U.S. citizens in Puerto Rico, except to establish the control board by enacting PROMESA.

On an island that has lost 10 percent of its population in the last 10 years, where 46 percent of the population lives below the U.S. poverty level, where the unemployment rate is more than 11 percent, and where the labor force participation hovers around 40 percent, lawmakers in Congress have kept insisting on greater austerity from Puerto Rico’s population. The reality is such dire conditions would never be tolerated among U.S. citizens in any other jurisdiction, yet they are allowed to persist in Puerto Rico.

During the past two years, the commonwealth government has sharply raised electricity and water rates. It has increased the sales tax (now a value added tax) to 11.5 percent. It has proposed ending all pensions for new workers and cutting existing benefits by an average of 10 percent. And last week, it announced the closing of 179 public schools for the coming school year. In addition, the control board has called for a $450 million cut over the next four years to the island’s 70,000-student public university.

Under the control board’s pressure, Gov. Ricardo Rosselló, who took office in January, is eyeing the privatization of the government-owned electric company, the water and sewer authority, even the public transit system. But even massive cuts and selling off public assets can’t solve the problem that there aren’t enough jobs on the island, that young people keep fleeing to the United States, and that Puerto Rico’s government is powerless to fashion its own economic and trade policy independently from the U.S.


Ricardo Rossello, governor of Puerto Rico, listens during a meeting at Puerto Rico Industrial Development Company (PRIDCO) headquarters in San Juan, Puerto Rico, U.S., on Tuesday, March 28, 2017.

Puerto Rico's economy has been contracting for a decade. Last year, almost 65,000 residents left the island, keeping pace with the previous two years, when the exodus reached the worst since at least the 1980s. Photographer: Alejandro Granadillo/Bloomberg via Getty Images

Ricardo Rosselló, governor of Puerto Rico, listens during a meeting at the Puerto Rico Industrial Development Company headquarters in San Juan, Puerto Rico, on March 28, 2017.

Photo: Alejandro Granadillo/Bloomberg News/Getty Images

For decades, Puerto Rico was important to the American economy as a center of sugar cane growing, then as a tax haven for manufacturing and pharmaceutical companies, and as a military stronghold and bulwark against the spread of communism in Latin America. But now it is no longer needed for any of these things. Most of the U.S. military bases have closed, and Congress began in 1996 to phase out the island’s tax haven status. As soon as the last of the federal tax breaks — known as Section 936 — ended in 2006, corporations started leaving and the island plunged into a recession from which it has yet to recover. For the past 20 years, a succession of island governments has been closing structural operating deficits with borrowed funds supplied by Wall Street firms eager to market its triple tax-exempt bonds to wealthy and middle-class Americans and Puerto Ricans.

Investors were especially drawn to a provision of the Puerto Rico constitution that required the government to pay general obligation debt service ahead of any other expenses, and by the fact that Puerto Rico and its public corporations were legally prevented from resorting to Chapter 9 bankruptcy, the portion of the bankruptcy code that applies to most local governments and municipalities.

Until 1978, Congress had included all the territories and possessions of the United States under Chapter 9, so Puerto Rico had bankruptcy protection until then. But between ’78 and the early ’80s, there were several changes to U.S. bankruptcy law. In 1984, an amendment was inserted into the law by South Carolina Sen. Strom Thurmond that specifically excluded Puerto Rico from Chapter 9. No reason was given. No federal policy or interest in the change was spelled out in the amendment process. By a few simple phrases in an amendment that few people noticed, Congress laid the basis for the unique situation Puerto Rico confronted last year. It was not only broke, there was no established legal recourse for it to get a court to decide how its many creditors would get paid or how much.

The PROMESA bill Congress enacted at least created a new type of Chapter 9-like process for the island. The bill stipulates that if the Puerto Rican government and the control board cannot reach voluntary settlements with bondholders, a judge can be appointed and creditors forced to accept a settlement, known as a “cram-down.”

But the law’s constitutionality has yet to be tested, and with so much money at stake the various groups of bondholders are determined to wage a titanic legal battle against it.

On May 5, for instance, Ambac Assurance Corp., one of the major insurers of Puerto Rico bonds, filed suit in U.S. District Court in Puerto Rico against the Commonwealth and the Oversight Board, and did so with uncommonly strident language:

    Sovereignty confers great power, but it does not authorize lawlessness. This action seeks to halt the latest in a series of unconstitutional and unlawful acts that have been the unfortunate modus operandi of the Commonwealth government in seeking to manage its financial and economic distress. Instead of rectifying these abuses, the Oversight Board created by Congress to restore fiscal responsibility to the Commonwealth has affirmatively exacerbated them, giving its imprimatur to an ongoing scheme of constitutional and statutory violations that can only be called theft.

Ambac has insured billions of dollars in sales tax revenue bonds, known as COFINA bonds, that Puerto Rico has issued since 2006, and the company, along with other bond insures, faces enormous losses from any cram-down.

Meanwhile, another group of bondholders who were involved in $1.4 billion of Puerto Rico’s last major general obligation bonds, issued in 2014, filed suit in New York state Supreme Court. Those bondholders, led by hedge funds Aurelius Capital Management and Monarch Alternative Capital, insist that Puerto Rico’s Constitution requires them to be paid first from all available revenues. The general obligation bondholder group, along with many civil society groups, insist that all the COFINA bonds — and they represent nearly $18 billion of the total $74 billion bond debt — were illegally issued and should not be repaid.

That’s because the Puerto Rico constitution specifically forbids debt service and principal that surpasses more than 15 percent of annual government revenues. The Puerto Rico legislature specifically created COFINA to maneuver around that 15 percent limit, and it then guaranteed the payment of that debt from sales tax revenues. But the legality of that maneuver has never been tested in court.

While the contending bondholder groups battle in the courts, the PROMESA board has now sided with the Puerto Rico government that bondholders will have to accept major reductions in payments.

“From current revenues, the Commonwealth and its instrumentalities cannot satisfy their collective $74 billion debt burden and $49 billion pension burden and pay their operating expenses,” the fiscal control board concluded last week after months of poring over Puerto Rico financial records.

And the island’s budgetary crisis “is about to worsen exponentially,” the control board warned, “due to the elimination of approximately $850 million in Affordable Care Act Funds in fiscal year 2018.” The total loss of federal health care funds, according to the board, is expected to reach $16 billion over the next 10 years. On top of that, the government pension systems are almost out of cash and will need $1.5 billion a year just to keep up payments to current retirees. Unlike municipal workers in the U.S., most public employees in Puerto Rico are not part of the social security system, so those pensions are their only retirement income.

Meanwhile, Donald Trump and Republican leaders in Congress insist there will be no bailout of Puerto Rico, no extra federal assistance to the island’s population.

They want to ignore the fact that back in the 1990s under Bill Clinton and the Newt Gingrich Congress, Washington’s leaders realized they had to take drastic measures to save the District of Columbia from economic collapse. Congress established a fiscal control board just as it has with Puerto Rico.

But that board soon concluded that DC had structural problems that required federal help. In 1997, a reform package accomplished the following: the federal government assumed the city’s debts, it took responsibility for the local courts and prisons, it increased the rate for Medicaid reimbursements to the district, and it took over the city’s underfunded employee pensions.

As a result, the district emerged from economic calamity. Today it is a vibrant and prosperous city.

Federal lawmakers will either have to provide massive assistance to Puerto Rico, or they will have to move rapidly to change the island’s political and economic status. After a century of colonial rule by Washington and decades of predatory debt from Wall Street, the bill has come due.

Top photo: Pedestrians walk past an old hotel in the Condado area of San Juan, Puerto Rico, in 2015.

Posted by: AGelbert
« on: May 07, 2017, 10:06:34 pm »

Jim Rogers It s Time to Prepare MAY 2017 will be bad for the dollar, US economy & stock market


Financial Consultants

Published on Apr 30, 2017

Jim Rogers It s Time to Prepare MAY 2017 will be collapse for the dollar, US economy & stock market.
Posted by: AGelbert
« on: May 07, 2017, 09:35:53 pm »

The Collapse Is Confirmed! Signs Of The Imminent Economic Collapse 2017 Stock Market CRASH!


The Economist

Published on Mar 23, 2017

30 Things You Should Do To Prepare For The Imminent Economic Collapse 2017 Stock Market CRASH!

Posted by: AGelbert
« on: May 07, 2017, 08:54:17 pm »

Journeyman Pictures

Overdose: The Next Financial Crisis


Published on Jul 2, 2012

Overdose: The Next Financial Crisis. Award-winning documentary giving fresh insight into the greatest economic crisis of our age: the one still awaiting us.

Posted by: AGelbert
« on: May 05, 2017, 01:01:32 pm »

Last Edit: May 05, 2017


http://www.mohicanpress.com/mo08017.html

She sells seashells by the seashore. If she sells seashells by the seashore, how many seashore shells does she sell? This old tongue twisting pronunciation trainer underscores step one in the manufacture of Wampum. You needed a supply of a certain, special and very attractive type of Calcium Carbonate, which was limited in quantities, to begin to do WORK=ENERGY INPUT plus some ARTISTIC CREATIVITY on the seashells in order to produce a CURRENCY that was BOTH a medium of exchange AND a store of value.   

Wampum

In a barter economy, the transfer of goods and services from one party to another is hindered by the lack of liquidity of say, an animal, a bear skin or whatever. The lack of a medium of exchange that can be subdivided into small enough units for both parties to make up perceived different values in a barter transaction is the need that fosters the creation of "money" in the first place.

Wampum was initially a form of artistic expression as well as a form of communication (it was a store of value as jewelry and venerable truth through news and agreements).

However, as the quantity gradually increased and most natives agreed more or less on its value, wampum began providing the liquidity that a barter economy could not.

Consequently the Native Americans along the eastern area of North Amerca gradually adopted wampum as a currency in addition to valuing its beauty (jewelry = bling). The Natives that lived along the beach had an edge on those inland because of easy access to the raw materials.

Wampum beads  Photo: Stephen Lang (Source: AINS/NMAI)

http://www.mohicanpress.com/mo08017.html

Wampum is pretty and, until the Europeans showed up with metal hand tools, a good store of wealth because the amount of energy=work it took to make it as well as the amount of shells available  limited the amount of wampum in circulation.

But those metal thingamajigs the white devils brought made it EASY (LESS TIME & ENERGY=WORK) to make lots of pretty wampum (metal hand drills). This new wampum looked just as good or better than the older stuff made with less sophisticated (non-metal) tools.

At first everybody prospered. There was more wampum, and contrary to standard economic theory that when you increase the currency in circulation, you get inflation, this did not happen right away. Everybody, including the white devils  , were happy with the wampum economy.

But time passed and things changed.

http://www.mohicanpress.com/mo08017.html

Two things happened:

1)
The colonists, who had hitherto absorbed the wampum glut by their demand for the beads, lost interest in wampum partly because they didn't require as many furs (wampum was the currency the colonists used to buy pelts). Wampum lost value as a medium of exchange as the increase in available currency took its toll.

Counterfeiting exacerbated the problem of undermining the medium of exchange value of the currency. A given piece of wampum lost purchasing power because of wampum glut AND a competing currency of coinage.

2)
The artistic value part of wampum as a store of wealth suffered as well. Any philatelist can tell you that old stamps get their "value", not from a pretty painting on the stamp, but MAINLY from their scarcity.

This was depressing. Imagine all those hours spent painstakingly making wampum and that neighboring squaw that is all thumbs can suddenly make several times as much as you can just because she has a white devil metal thingamajig to goose production! And now the white devils don't want them as much as they used to either.  :P  :(

But as you can see below, despite its disappearance as a currency, wampum survives to this day as a product of patient craftsmanship, artistry and historical communication.

But it would never regain its position as a medium of exchange/currency.

Two Row Wampum Treaty from Elder, Yvonne Thomas.pic.twitter.com/EtjkqHsG9o The patient artistry and symbolism crafted in this wampum is an example of how wampum is a store of value. 
full article here:

http://indiancountrytodaymedianetwork.com/2013/05/25/celebrating-400-years-two-row-wampum-149469

What lessons can we take from the above Native American experience?

1) Money is created in order to ease the transfer of goods and services. This medium of exchange normally has the following qualities:

A. Liquidity

B. Durability

C. Portability

D. Agreed upon value per unit


2) The ENERGY it takes to create said money is directly proportional to a unit of said money as a store of value.



The extreme situation, never reached by wampum because it always took SOME skill and energy to make, is FIAT currency where it has ZERO value as a store of wealth.

The case of the US dollar is BELOW ZERO as a store of wealth because, in addition to it being fiat, the supply is growing absent any energy input whatsoever. So the dollar loses value as it sits from Fed  inflation (counterfeiting). Legal Tender Laws force the citizenry to run around trying to preserve some value in a currency that shrinks in value year after year. Many of these value chasers go for PMs, paintings, land, antique cars, Early American antique furniture, etc. They are all looking for something that meets the criteria of liquidity, durability, portability and agreed upon value per unit to a greater or lesser degree.

3) Beyond the basic biochemical needs of proper nutrition, shelter and health, human culture places a great deal of value on tangibles and intangibles outside the default requirements of human life.



Humans will always value creativity and imaginative and useful innovations that bring beauty, comfort and utility to our lives as STORES OF VALUE.

What price can you place on a song? What value does a set of verses have that took a song writer 5 minutes to write after he had dreamed them versus a painstakingly written flute sonata?

Hard to say, right? One took a lot less ENERGY than the other, both in KWhs and artistic creativity, but may have sold for a lot more money.


What about greed and other economy influencing factors? ???

The issue of greed, hoarding, the amount of currency in circulation as a trigger for consumerism or the reverse are all PRODUCTS of distortions in an economy.

Most economists espouse the view  that currency does not simply encourage certain types of behavior deleterious to an economy, but DICTATES IT.

I don't feel that way because I view money as an EFFECT, not a CAUSE. I do agree that the money supply certainly must remain in a fairly constant proportion per capita to avoid distortions.

Food will never be currency simply because, even if you could freeze dry it with solar energy and store it also with solar energy for a hundred years or so to use it as you needed it, there is only so much food you or anybody else can eat.

People want furniture, tools, culture, beauty, some entertainment, etc. A prisoner in solitary confinement goes bonkers even though he has sufficient food, shelter and health care.

Life is MUCH more than food, shelter and health.

Those who disdain precious metals as a store of wealth feel that, since gold hoarders can't eat their gold, it therefore has no intrinsic value. However, as all gold bugs have noticed, gold has the following "money-like" attributes:

A. Liquidity
B. Durability
C. Portability
D. Agreed upon value per unit

Gold bugs observe, rightfully, that the US dollar retains the above attributes by the big gun the government has called Legal Tender Laws, not by reality. This amounts to a government distortion of the value of the currency to for the benefit of the owners of the Federal Reserve Banking Cartel and the detriment (i.e. impoverishment) of the average American citizen.  Consequently they take any excess dollars in their possession and quickly convert them something besides dollars because the value of said dollars, like wampum (eventually,) after the metal hand drills were introduced by the white devils, is going down.

Gold bugs watch the Fed money supply going exponential in direct proportion to the galloping inflation the government refuses to own up to. 

This is far worse than wampum inflation because this is raw counterfeiting of fiat! People aware of this start to buy this, that and the other with those magically shrinking dollars from collector's items like stamps to maybe antique furniture to paintings to rare coins to, you guessed it, gold!

Gold is hard to counterfeit. There is a way to use nuclear physics (this is not a joke, it's the real deal!) to transmute some cheap element to gold but the energy expenditure is greater than the energy needed to mine and produced finished gold from ore. However, when fusion becomes a reality, the equation for gold may change and, it too, will go the way of wampum. Don't worry gold bugs, it may be a while yet.*

The Federal Reserve Banking Cartel realizes there are a lot people out there on to their game so they start manipulating  the precious metals paper prices (tanking them) to drive the gold bugs back to the Fed fiat fantasy of a strong dollar. 

I observed this blatant and economically disastrous distotion of currency value and, after thinking about it a while, came to the conclusion that we need something like wampum but without those hand drills or the counterfeiting dye!   My wonderful and innovative Kilowatt Hour Monetary Standard is, horror of horrors,  greeted with hardy harrs and guffaws from the gnomes of the Federal Reserve.    Harrumph! 



ANY currency that is not BOTH a medium of exchange and a store of value will be corrupted, distorted, counterfeited and generally devalued, PERIOD. 


The "tokens" or other symbols used for such currency obviously introduces DEBT because there might be a whole lot more symbols, tokens or pieces of paper with funny squiggles on them than the ACTUAL store of value represented. THAT'S JUST A DETAIL. If you can avoid corruption and insure transparency, that can be minimized.

The "fear" that hoarders are going to trash the economy by taking money out of circulation is unfounded. That's merely an EFFECT of capitalism. It has nothing to do with the concept of money per se.

This EFFECT is really quite easy to prevent. All you have to do is progressively tax wealth (NOT INCOME!) above X net worth to keep a lid on excess capital accumulation. Thomas Jefferson was in favor of that, as a matter of fact (google it!).

Once everyone is on board with a stable currency like Kilowatt Hour Equivalents, I would also eliminate the difference between earned and unearned income (capital gains) and progressively tax that too. That appropriate and fair tax structure would serve as an additional DETERRENT hoard and a guarantee that the velocity of money will remain fairly constant. 

Have a nice day.

* Nuclear experiments have successfully transmuted lead into gold, but the expense far exceeds any gain.[7]  It would be easier to convert gold into lead via neutron capture and beta decay by leaving gold in a nuclear reactor for a long period of time.   :P


http://en.wikipedia.org/wiki/Nuclear_transmutation
Posted by: AGelbert
« on: May 04, 2017, 08:39:03 pm »

From Trump to Brexit - Neoliberalism is Dying...


May. 3, 2017 6:06 pm

Economist Kate Raworth, Doughnut Economics/Oxford University's Environmental Change Institute/Cambridge Institute for Sustainability Leadership. From Donald Trump to Brexit, the evidence is everywhere: neoliberalism is dying. So how can we create an economic system that works for the 21st century?



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