Monday, January 14, 2013

Asia stocks mostly gain, with China in lead

By Sarah Turner, MarketWatch
SYDNEY (MarketWatch) — Hong Kong and Shanghai stocks rose to outpace gains for other Asia markets Monday, with financials among the top-gaining sectors.
The Shanghai Composite Index CN:000001 +3.06%  jumped 2.6%, while Hong Kong’s Hang Seng Index HK:HSI +0.64%  climbed 0.6%.
Australia’s S&P/ASX 200 index AU:XJO +0.22%  edged up 0.2% and South Korea’s Kospi KR:SEU +0.52% ,rose 0.5%, while on the downside, Singapore’s Straits Times Index SG:STI -0.53%  fell 0.4%.
Japanese markets were closed Monday for Coming of Age day, though Nikkei Stock Average futures traded 1.6% higher in Singapore as the Japanese yen lost more ground against major rivals. 

Ben Kwong, chief operating officer at KGI Asia, said that other Asia markets were also feeling the effect of yen weakness. Japan is a source of cheap money, he said, ensuring that “liquidity-driven trade continues.”
In that environment, “investors are looking for excuses to buy rather than sell,” he said, and are focusing on an economic recovery in China and the subsequent better performance of mainland Chinese yuan-denominated stocks, known as A-shares.
“A-shares are up, and companies involved in A-shares benefit from that,” Kwong said, giving brokers and insurers as examples.
China may increase the quota for foreign investors to invest in its domestic equity market, according to China’s securities regulator chief, according to reports.
Among Shanghai-listed financials, Citic Securities Co. CN:600030 +6.92% surged 6.1%, Bank of China Ltd. CN:601988 +1.71% BACHY -0.51% gained 1.7%, China Construction Bank Corp. CN:601939 +2.59% CICHF -2.96%  rose 1.9%, and China Merchants Bank Co. CN:600036 +4.22%   CIHHF -1.29%  traded 3.7% higher.
Great Wall Motor Co. CN:601633 +6.18%  climbed 5.4% in Shanghai after a Xinhua news report Saturday cited a company spokesman as saying the vehicle maker was targeting sales of 700,000 units this year, up from 620,000 units in 2012. Read: Great Wall shares jump on upbeat guidance report.
Financials were also outperformers in Hong Kong trade, where HSBC Holdings PLC UK:HSBA -0.13% HBC +0.28%  rose 1%, Bank of China HK:3988 +1.37%  added 1.4%, and broker China Everbright Ltd. HK:165 +7.16%   CEVIF +13.37%  gained 4.8%.
Insurers were also supporting the Hong Kong index with AIA Group Ltd. HK:1299 +1.00%   AAGIY -0.70%  up 1.2% and Ping An Insurance Group Co. HK:2318 +2.91%   PNGAY -2.54%  gaining 2.4%, while China Life Insurance Co. HK:2628 +2.88%   LFC -2.57%  climbed 3.5%.
On the downside in Hong Kong, logistics giant Li & Fung Ltd. HK:494 -15.42%   LFUGY -14.21%  plunged 15.1% after warning core operating profit for the past year could tumble as much as 40%.
South Korean trading saw LG Chem Ltd. KR:051910 -1.70% LGCLF -39.13%  fall 1.7% and Kia Motors Corp. KR:000270 -0.37% KIMTF -1.81%  lost 0.4%, offsetting a 1.5% advance for Hyundai Motor Co. KR:005380 +1.46%   HYMTF -4.69%  and a 1.2% gain for Samsung Electronics Co. KR:005930 +1.24% SSNLF 0.00%
The Australian market saw some buying for real-estate firms, with Mirvac Group AU:MGR +1.29% MRVGF +12.66% up 1.3%, Stockland Australia AU:SGP +1.44%   STKAF +1.23% adding 1.4%, and Fkp Property Group AU:FKP +3.15% FRKPF 0.00% , up 3.2%.
The Asia moves came after U.S. stocks ended Friday’s session little changed, with investors pausing after pushing the S&P 500 index SPX -0.0048%  to a five-year high earlier in the week. Read: Huge stock fund flows have Wall Street abuzz.
Wells Fargo & Co. WFC -0.85%  kicked off the fourth-quarter reporting season for major U.S. banks Friday, posting revenue and earnings that topped analyst expectations, but with lower net interest income. Read: This week could make or break financials’ rally.
Crédit Agricole’s Hong Kong-based strategists said that earnings out this week, especially from the financial sector, would help dictate the direction of global stock-market action and appetite for risk-taking over the coming days.
“Hope and faith in global economic recovery, helped by data releases in the U.S. and China in particular, have helped to calm markets, while there is little angst as yet about the looming debt-ceiling/spending-cut negotiations in the U.S.” they said.
Sarah Turner is MarketWatch's bureau chief in Sydney. Follow her on Twitter @SarahTurnerMKTW.

Gold reaches 80% of Mali exports

Geologists at the Diokeba Gold Project, western Mali
© North Atlantic Resources
afrol News, 16 June - According to Mali's Mining Minister, gold is y now representing 80.5 percent of the nation's export earnings. But even though gold prices are record high, Mali's low taxation rates leave the country with little earnings.
Mali's Mining Minister Abu Bakr Traoré this week presented the 2009 estimates of the increasingly important sector at a Bamako conference this week, revealing the growing dependence on the volatile sector. By 2009, Mali received 80.47 percent of its export earning from gold mining.

Gold mining has slowly grown in importance. Four years ago, gold represented 72 percent of Malian exports. During the last decade, gold production has reached over 50 tonnes yearly, out of which around 90 percent is produced in seven major industrial mines and the rest comes from artisanal production.

According to Minister Traoré, the major importance of the gold mining sector is in the wages paid out to Malian residents and citizens. The sector employs almost 8,000 persons, contributing with US$ 163 million (euro 133 million) in taxable wages.

But a report published by the International Monetary Fund (IMF) last month, looking into the taxation of Mali's mining sector, reveals that the country's major mineral riches only to a small degree benefit Malians. Mali's very low taxation level to a large degree follows IMF recommendations, aiming at attracting foreign investments.

Mali's current fiscal regime set for the gold mining sector consists of a mixed taxation system based on royalties, a profit tax and depletion allowance on profits. Following IMF recommendations, Mali's government decided to reduce the royalty rate applied to gold mining companies from 6 to 3 percent in order to encourage investment in this sector.

Mining firms further benefit from a five-year profit tax holiday after first investments, even in the highly profitable sector of gold mining. But by now, even the IMF paper acknowledges that "the state has not been able to collect its full share of revenues" due to this measure, and in fact recommends eliminating tax holidays granted to mining companies in Africa.

According to the IMF paper, in 2008 gold production in Mali was worth almost US$ 150 million. Applying a royalty rate of 3percent, the government would have raised US$ 4.5 million. If the government had applied the previous 6% rate it would have reached US$ 9 million.

Maria Victoria Garcia Ojeda from the European Network on Debt and Development (Eurodad) holds that even 6 percent is a too low royalty rate for a sector thus profitable as gold mining. "If the rate applied had been 12 percent, as considered in the report 'Golden profits on Ghana's expense', the revenue collected by the government in royalties would have been US$ 18 million in 2008," Ms Garcia holds.

While gold represents 80 percent of Mali's total exports, it accounts for only 8 percent of the country's GDP. "Mali's gold exports have more than tripled in the last decade yet its citizens have so far seen little benefit from mining revenues," Oxfam America holds. Also IMF paper recognises that the gold mining sector has a very limited positive spill-over to the Malian economy.

With such low royalties and low corporate profit tax plus a weak contribution to employment and a low added value, Ms Garcia asks the difficult question: "who is profiting from the exploitation of Mali's principal natural resource?" It is "certainly not the Malian people," she answers.

Citi Reveals The Most Likely Debt Ceiling Endgame, And Why It's Bad News For The US Dollar

Citi currency guru Steven Englander has a new note out this evening titled: No coin + temporary debt ceiling extension + sequester = US Dollar negative. In it he notes that the rejection of the trillion dollar coin idea to avert the debt ceiling is not alone a market moving event, but that the hard language taken by the White House that the choices boil down to clean lift or default raises the odds of a debt ceiling breach.
His take:
So it is possible that we will get a technical default for a few days, but more likely that Congress will give in, vote the debt ceiling up temporarily, and let the automatic sequesters kick in. Mounting risk of a technical default was USD positive in 2011 because it led to cutting of long-risk positions and the USD/Treasury market remained safe havens.  However, it also occurred in an environment of slowing EM growth and intensifying euro zone sovereign risk pressure, so the USD support came from external forces as well. Given that investors are now somewhat long risk again, the position cutting is again likely to be USD positive, however, unattractive US assets were. As was the case in 2011, it is very unlikely that the Treasury will not pay its bills, although even a technical default could have very unforeseen consequences, given the multiple functions that Treasuries play in global financial markets. The more likely scenario of sequester plus grudging debt ceiling rise is USD negative. It will put more pressure on the Fed to keep pumping liquidity into the US economy without giving any reassurance to investors that long-term fiscal issues are close to resolution.
That seems reasonable. A debt ceiling hike + a full sequester, which would equal a weaker economy and more pumping.
With Europe healing and China rebounding, USD would be the big loser.

F-35 Marine model stress-testing halted after cracks discovered

WASHINGTON -- Durability testing on the Marine Corps' short-takeoff version of Lockheed Martin's F-35 was halted last month after "multiple" cracks were discovered in the fighter jet, according to a Pentagon's testing office report sent to Congress on Friday.
The previously undisclosed halt in high-stress ground testing involves the F-35B, the joint strike fighter's most complicated version, which must withstand short takeoffs and landings on carriers and amphibious warfare vessels, said the report by Defense Department testing chief Michael Gilmore.
Flight testing wasn't affected.
Development of the F-35, the Pentagon's costliest weapon system, has been marked by delays and cost increases. The Pentagon estimates the total price for development and production of 2,443 F-35s at $395.7 billion, a 70 percent increase since the initial contract with Lockheed was signed in 2001.
Durability testing is intended to stress an airframe, assessing its bility to achieve a projected aircraft lifetime of 8,000 "equivalent flight hours."
Testing on the Marine version progressed last year until the December halt "after multiple new cracks were found in a bulkhead flange" on the fuselage underside during an inspection after the equivalent of 7,000 hours of testing, the report to Congress said. The cracks were confined to that area.
Testing of the F-35B model had been restarted in January 2012 after a 16-month delay caused by the discovery and repair of a crack in the plane's bulkhead.
Analysis of the new cracks will continue so as to find the root cause, plan corrective action and determine whether the cracks had been predicted in modeling, the report said.
"We have implemented the fixes," said Lockheed spokesman Michael Rein, who went to say that static testing could resume as early as late next week.
"This had no impact on flight testing and this is normal engineering development and test work," Rein added. "This is why we do structural testing in the first place."
But Gilmore said in his report that the test results "highlight the risks and costs" of the Pentagon's F-35 concurrent-development strategy, which produces aircraft while they're still in development.
The aircraft have two more years of structural testing that may result in more "discoveries," he added.

Read more here:

Snow on the way: 5 inches in the north and a dusting in London

The heaviest snowfall of the winter so far will bring travel chaos, with up to five inches falling in the north and even a light dusting in London.
A gritting lorry on duty in the snowy Scottish Borders Sunday afternoon

Snow will move down the middle of the country from Scotland overnight reaching London by the early morning.

Up to five inches (15cm) will fall on high ground in the north east of England. The snow is expected to last throughout the day with up to 2 inches (5cm) in most places, turning to sleet further south as the afternoon progresses.

Another front coming in from the east will bring flurries across Kent and East Sussex, causing more problems for commuter traffic.

Boris Johnson, the Mayor of London, was frustrated that Heathrow was not better prepared for snow amid warnings for passengers to regularly check the website to ensure flights are on time.

“Every time there is a slight problem, Heathrow cannot cope," he said.
Flood warnings remained in place in the South East, including on the Thames where high spring tides are already causing problems around Richmond.

The Met Office have issued a severe weather warning for the whole of the UK throughtout Monday.

Temperatures will remain below average, barely reaching 5C and freezing at night.

On Tuesday and Wednesday the worst of the weather will be in the east of the country with further flurries of snow expected. Temperatures could fall to -9C in remote rural areas.

The cold front is expected to last to the end of the week, with sunny periods. But a 'battle' is waging with warmer fronts to the south that could bring warmer, wetter air.

The RAC is expecting up to 56,000 breakdowns and widespread disruption.

Online retailer Amazon said sales of sledges had surged by 600 per cent, and customers were also investing in snow shovels.

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Awaken slaves! - How The Private Central Bank Ponzi Scheme Trapped And Destroyed America

Once upon a time, in 1913, a corrupt Congress and a corrupt President transferred the money creation authority vested in the government by the Constitution to a private central bank. It was going to be called the Third Bank of the United States. Such a fundamental change to the nation's economy should have required a Constitutional Amendment. But earlier that same year, there had been a huge fight to ratify another Amendment, the 16th Amendment authorizing the income tax, and there is good reason to suspect that the 16th Amendment actually failed ratification even though the payers of that income tax were told otherwise.
"I think if you were to go back and and try to find and review the ratification of the 16th amendment, which was the internal revenue, the income tax, I think if you went back and examined that carefully, you would find that a sufficient number of states never ratified that amendment." - U.S. District Court Judge James C. Fox, Sullivan Vs. United States, 2003.
Getting yet another Amendment ratified against such opposition, or worse, having to cheat one through, would be extremely difficult.
Then there was a problem with the proposed name, "Third Bank of the United States", as it reminded people of the predations of the First and Second Bank of the United States.
"Gentlemen! I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time, and am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I have determined to rout you out, and by the Eternal, (bringing his fist down on the table) I will rout you out!" -- Andrew Jackson, shortly before ending the charter of the Second Bank of the United States. From the original minutes of the Philadelphia committee of citizens sent to meet with President Jackson (February 1834), according to Andrew Jackson and the Bank of the United States (1928) by Stan V. Henkels
Shortly after President Jackson (the only American President to actually pay off the National Debt) ended the Second Bank of the United States, there was an attempted assassination.
But I digress.
Faced with the possibility that a new Amendment to transfer money creation from the US Government to a privately owned bank might fail and fail badly, and with the name "Third Bank of the United States" already leading to opposition to the plan, the plotters did an end run around the Constitution, passing the federal Reserve act over Christmas vacation when the members of Congress opposed to the bill would be away. The name of the new bank was then changed to "The Federal Reserve." But, it is a private bank, no more "Federal" than Federal Express. From that moment on all currency would enter circulation as a loan at interest.
"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is now controlled by its system of credit.We are no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men." -- Woodrow Wilson 1919
Ironically enough, this was the very system of banking the American Revolution was fought to free us from.
"The refusal of King George 3rd to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators, was probably the prime cause of the revolution." -- Benjamin Franklin, Founding Father
Starting in 1913, public schools stopped teaching about King George's Currency Act, which ordered the American colonies to conduct business only using bank notes borrowed at interest from the Bank of England, and since then American students are taught that the revolution was about Tea Parties and Stamp Acts, lest the more clever students wonder how we ended up back in the same banking system that led to the first revolution.
The Founding Fathers understood how dangerous such banking systems are, and I will try to teach you here what the public schools are forbidden to let you know. The Federal Reserve system is a deliberate trap, to enslave a population to unpayable debt in order to control and exploit them, and here is how it works.

Before any commerce can happen, currency must go into circulation. Someone has to borrow it from that private central bank. The borrower can be government, a business, another bank, or ordinary citizens using credit cards, car loans, or mortgages. For the purposes of clarity, we will use a single dollar to represent that initial borrowing from the central bank. For the purpose of this illustration, "borrower" refers collectively to the entire American nation.

That dollar now enters circulation, passing from the original borrower to others, as payment for labor, in exchange for raw materials, as taxes, and so forth. Round and round it goes, passing from hand to hand, yet it is still a note borrowed from the Central Bank and it is still accruing interest. That Central Bank note, or (in the United States) Federal Reserve Note, is not a unit of value, it is a unit of debt.

At some point, that dollar is repaid to the Central Bank. The Central Bank then demands the interest. In our case, a nickle. But there is a problem. That nickle doesn't exist and it never did. It is imaginary.

So now the borrower has to borrow another dollar, out of which he takes a nickle to pay for the interest on the first dollar.

The rest of that second borrowed dollar now goes into circulation, but this time, only 95 cents is in circulation to pass from borrower to vendor to employee to grocery store to government, then back to the Central Bank.

The borrower goes back to the Central Bank to repay that second dollar, but only has 95 cents, plus he owes that imaginary five cents interest as well, or ten cents.

Once more the borrower has to borrow a new dollar from the Central Bank, only this time he has to take a dime out of that new dollar to hand bank to the banker. The borrower walks out of the bank with only 90 cents to put into circulation, while still owing a whole dollar plus five cents interest.

The cycle keeps repeating over and over with each new loan having to return more and more back to the Central bank as accumulated interest.

With each cycle the Central Banks gets richer while there is less and less currency available for commerce. People have to tighten their belts. Works are let go. Sales slow down. "Austerity" is imposed.

Eventually, a point is reached where as much accumulated interest is owed as the money being borrowed. So the borrower now has to borrow twice as much from the Central Bank merely to have the same actual currency in circulation as when they started. The Central Bank system only operates as long as the borrower is willing to go deeper and deeper into debt, and debt slavery. This is what makes the Central Bank scheme a pyramid system. It works only so long as ever-larger new generations of borrowers can be found to allow new currency to enter circulation, out of which the interest on the older loans is paid. And of course, by design, the debt can never ever be paid off. Once that first paper note is loaned into circulation, total debt will always exceed total currency. The system is designed that way, to keep you in debt, to keep you a slave to the bankers.
This is the reason that every nation on Earth with such a Central Bank is now drowning in debt. The Federal Reserve, the World Bank, the International Monetary Fund, the European Central Bank, are all built on this same system. This is why nations that refuse such banking systems are made war on.
"Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war." -- Nathan Mayor Rothschild, angered at the refusal of Congress to renew the charter for the First Bank of the United States in 1811. Congress stood firm and Britain, goaded to "recolonize" America by the Bank of England, headed at the time by Lionel de Rothschild, launched the war of 1812."If this mischievous financial policy, which has its origin in North America, shall become endurated down to a fixture, then that Government will furnish its own money without cost. It will pay off debts and be without debt. It will have all the money necessary to carry on its commerce. It will become prosperous without precedent in the history of the world. The brains, and wealth of all countries will go to North America. That country must be destroyed or it will destroy every monarchy on the globe." -- The London Times responding to Lincoln's decision to issue government Greenbacks to finance the Civil War, rather that agree to private banker's loans at 30% interest. Following Lincoln's assassination, the Greenbacks were taken out of circulation.
On June 4, 1963, President John F. Kennedy signed Executive Order 11110, which authorized the US Treasury to issue "United States Notes, backed by silver, so that the American people would not have to borrow federal Reserve Notes at interest. Five months later Kennedy was assassinated in Dallas Texas, the US Notes were taken out of circulation, and John J. McCloy, President of the Chase Manhattan Bank, and President of the World Bank, was named to the Warren Commission, presumably to make certain the financial dimensions behind the assassination were never made public.
And what did it cost the Central Banks to wield such power over nations? Paper and ink, or today a few keystrokes on a keyboard. In fact the practices of the Central Bank would be felonies under the United States Coinage Act of 1972, which declared debasement of the gold and silver-backed currency of the United States a death penalty offence.
The Central Bank knows that those pieces of paper with ink are worthless. But while the Central Bank can just create those paper notes out of thin air (legalized counterfeiting), you may not. In order to pay that ever-growing debt you have to do what you are told to do by those who have some of those pieces of paper to hand out tell you to do. Work long hours. Invade a foreign nation that refuses to have a Private Central Bank. Torture innocent people to death to find weapons of mass destruction that do not exist to justify a war. Compromise your morals and integrity. Perform sexual favors. Whatever the purveyors of those pieces of paper want, you must do. That paper note is your slave chain.
And that is what it is all about. Control. Rule by artificially created debt. No different from other hoaxes played by the rich on the poor, such as Rule by Divine Right, or Rule by Chattel Ownership of your Body (slavery). As a human civilization we have outgrown these hoaxes and realize they are illegitimate forms of governance. So too shall it be with Rule by Debt. Those previous systems only worked as long as the subjugated population believed that those systems were real; the way the world was supposed to be. When the people broke free of the slavery of belief, those forms of enslavement collapsed.
Modern banking is not a science. It is a religion, simply a set of arbitrary rules and assumptions that favor the masters of that belief system, which we are brain washed in school to think is something tangible and real.
We have outgrown Rule by Divine Right and recognize slavery as inherently wrong.
Now is the time for the next step in our societies evolution in which the money must serve the people, rather than the people serve the money.
Central Banks are a failed experiment. Look at the devastation of Europe, or your own home town and you will see it.
The common enemy of all humankind are Private Central Banks issuing the public currency as a loan at interest.

4 Years Ago Could You've Imagined We'd Let Banks Off Laundering Money For Terrorists and Drug Cartels?

4 Years Ago Could You've Imagined We'd Let Banks Off Laundering Money For Terrorists and Drug Cartels?

This Is How The Banksters Took Control Of You!!!

Whereas We The People Are Really Pissed Off

We were just gouged on January 1st for a fresh round of tax hikes and health insurance rate increases. And we are being told by Washington that we must prepare for another round in February of even more tax increases and Austerity cuts. We were also just told by IMF chief economist Olivier Blanchard  that every 100 billion in budget cuts in Europe did three times as much damage to the GDP as had been predicted. We were recently told by Wall Street economists at J P Morgan and Goldman Sachs that we could expect the US economy to shrink 1.5% due to the January tax increases and another 1.5% for Obamacare health insurance rate increases.
People all over America are getting their first paycheck of 2013 and are shocked to see how much less money they are taking home due to higher taxes. Others are going to medical clinics and learning that their co-pays and pharmacy charges are higher. Over the next month small businesses and millions of people will pay more for health insurance because the Obamacare bill was written by health insurance corporations.
So the question of the day is this: What if instead of a projected decrease of 3% in the US economy, Blanchard is right and our GDP decreases three times as much or at an additional 9%? Maybe that European figure does not apply to America and the January 1st tax increases  only shrink America’s GDP by an additional 6%. The US GDP grew at less than 1% in the last quarter of 2012. Dr John Williams at Shadow Stats says the real inflation rate is 9.6%. If we subtract 9.6% from 1%, we get an economy shrinking at 8.6% in 2012 and starts out shrinking anywhere from 11 to 17% in 2013. Suppose the economy only contracts another 12 or 13%, even the bought and paid for media will no longer be able to deny that we are entering another Great Depression. Must I remind you again that at least 3 million Americans died of starvation in the 1930s.
That is my limit. I am not willing to sit around and let Wall Street, the politicians and the lying corporate media starve 10 million Americans to death in this current Depression. We only have 4 more weeks to say No to Washington before the Too Big To Jail Banks, the Military-Security Industrial Complex and Israel get to the Congress and the President to push the American economy over a cliff. If we let them raise taxes and cut benefits, we will be far worse than Greece today or Germany in 1932.
I say No to tax increases and No to Austerity cuts. The politicians are talking about an additional trillion dollars in taxes and an additional trillion dollars in budget cuts over ten years. We cannot survive even those miniscule 100 billion dollars a year in cuts and tax increases. Besides all these budget talks plan on doing is to limit the growth in the debt so we can pay interest on 21 trillion dollars as opposed to 25 trillion or more. You might tell the next politician or media personality you meet that 5% interest on even 20 trillion is 1.7 trillion dollars  more than all of America’s tax collections so radical change is needed within the next 4 weeks. Following are a few budget items we can safely cut though I would combine these cuts with some spending increases on badly needed infrastructure.
I would completely eliminate the Transportation Security Administration and let the airlines pay for security. This will eliminate genital groping by government goons and cause tourism to boom. The Congress could also affirm the Fourth Amendment which forbids searches and seizures without probable cause and a warrant.
I would also abolish the Department of Homeland Security including the 72 Threat Fusion Centers and those 200,000 high paid consultants. Also on the chopping block would be warrantless wiretaps and data mining, Of course those 30,000 drones should be stopped before it is too late to save what few freedoms we have. Why do we need armed drones overhead? Is America to become the next Pakistan?
I would eliminate all vaccines for those under 12 months and over 65 years of age. Vaccination does no good for people at those ages. I also would eliminate all vaccines that cannot be proven safe and efficacious.  I would also tell insurers they no longer have to reimburse for medications that are not significantly more effective than home remedies. Deep breathing exercises reduce blood pressure. Vitamin D3 and cinnamon reduces blood sugar swings better than do most prescription medicines. That should save us a ton of money.
Overseas we need to stop the endless wars and occupations. We could reverse the decision to invade 35 more African countries. We could stop funding the mercenaries attacking Syria and cut off all aid and assistance to Al Qaeda in Libya. We could pull our troops and mercenaries out of Iraq and Afghanistan. We could pull our Navy out of the Persian Gulf. I would park a naval task force off the coast of Gaza and Palestine so Israelis can no longer kill Palestinian fishermen. I would seize that platform off the coast of Gaza that the Israelis use to steal Palestinian natural gas. This would make the Palestinians energy self-sufficient.
I would also cut off all aid to Israel because it is illegal under American law to give aid to any nuclear power that does not sign the Nuclear Non-Proliferation Treaty and allow UN-IAEA inspections. I would also eliminate loan guarantees to Israel which are more than our military aid.
I would use all of the above savings to increase spending on infrastructure. Our bridges are collapsing. The net savings should be enough to meet the budgetary need to cut federal spending over a trillions dollars a year.
But after we get through this next round of cuts in February we need to move on to what will really fundamentally change things. The Treasury must seize control of the Federal Reserve bank. And we must seize control of the Big Five Too Big To Jail banks. They are all bankrupt. We need to seize 100% of all illegal assets in those banks and apply it to the public debt. We also need to issue a non-interest bearing currency to replace Federal Reserve Notes. We need to ban fractional reserve banking. All of this would be a first step towards monetary reform.
We can no longer allow bankers to charge us interest on money they created out of nothing.
For the benefit of new readers let me repeat my predictions for 2013. I expect the Bond Bubble and the dollar to crash. Inflation will cut purchasing power to half of what it was in January of 2012. This will cut paychecks and pensions in half. This will be caused by people overseas dumping dollars. I expect more than 1,000 cities, counties, school districts and other local government agencies to default on their bonds. And I have said the US Treasury deficit for the calendar year 2013 will for the first time in history pass two trillion dollars.
I will also predict that 2013 is the year that Americans get really pissed off at the government.
Notes:2013 The Year Americans Realize They Cannot Afford Any More Wars For Israel
Signs The Bankers Are Prepping You For World War Z

Sacking, Looting And Destroying America 1994-2013
LOL!! I Stole 3.5 Trillion Dollars From You. I Dare You To Do Something.
How Gun Grabber Feinstein Stole $100s Of Billions In Gold

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Manufactured Cyber-Attacks On Banks Validate One World Currency

Susanne Posel, Contributor
Activist Post

PNC Bank has issued warnings to 5 million customers that high volume of traffic is a type of cyber-attack meant to slow down their servers. In an effort to block the “attacks” PNC Bank has accidently “blocked access for a small percentage of legitimate customers for an extended period.”

The email from PNC stated: “A number of banks in the U.S., including PNC, are seeing an unusually high volume of traffic at their Internet connections. This volume of traffic is consistent with threatened cyber-attacks on the U.S. banking system.”

The hackers essentially caused a denial-of-service (DoS) breakdown to occur, blocking out customers because of inundation of traffic. In total 58 downtime reports were admitted by PNC.

In 2011, Citibank reported that hackers obtained private information on 360,000 customers. Names, addresses, account numbers and email addresses among other information were taken. Citibank waited 3 weeks to notify their customers of the breach.

The security firm Radware stated that attacks on US banks last year originated in Saudi Arabia. Radware said that the malware was created “live” on a server; and came from an independent data center which held servers for corporations that conduct business with financial institutions in America. The logical assessment was that these relationships, by their nature, may be purposefully less secure, thereby allowing hacker attacks to take place.

 The timing of the newly formed “digital al-Qaeda” and their expressed anger over the US-produced anti-Muslim film are questionable considering how the US and Israeli government are setting the stage for a justified war with Iran. This fake hacker group is threatening other countries controlled by the Zionist regime, such as France, Germany and Britain. According to the false flag group:

The army was recently formed and we have started to work as a team after we used to work individually. The hacking operations are of course a response to the offense against the prophet, peace and blessing be upon him.
In September of 2012, Wells Fargo & Co. upped their cybersecurity measures after being attacked by a nameless, faceless group calling themselves Cyber Fighters of Izz ad-din Al Qassam. Wells Fargo announced in a formal statement:
We apologize to customers who may be experiencing intermittent access issues to and online banking. We are working to quickly resolve this issue.
Senator and self-proclaimed Zionist Joseph Lieberman declared that it was Iran who cyber-attacked Bank of America and JPMorgan Chase in 2011 and began with more frequency this year. Lieberman, as the chairman of the Homeland Security and Government Affairs Committee states that the financial attack was spawned from the state-sponsored anti-Muslim film circulating the Middle East thanks to CIA-operatives al-Qaeda.

The latest country attributed to the cyber-attacks on US banks is Russia. McAfee Labs warns of a cyber-attack planned for the spring of 2013 that will steal millions of dollars from customer accounts. Thirty US banks have been named as a nameless, faceless band of “criminals” have released a Trojan virus that will remove digital currency from accounts at banks like:

1 Troy Ounce Limited Edition Silver Medallion
• JPMorgan Chase & Co
• Wells Fargo
• Citibank
• PayPal/eBay
• Fidelity
• Charles Schwab
• Wachovia
• Capital One
• Bank of America
• Suntrust
• eTrade
• Ameritrade
• Navy Federal Credit Union

The scheme is referred to as "Project Blitzkrieg" (PB). In a beta-testing of the assault, it is reported that 300 bank accounts were affected in the United States. The recruitment for PB is being linked to Russian cyber-criminals and an alleged cyber-mafia headed by an anonymous NSD. Those who enter into PB are tasked with infecting specified US computers with predetermined malware, cloning, siphoning passwords and login information, transferring digital information from customer accounts.

Pat Calhoun, a senior vice president at McAfee said:
Our researchers have been pouring into this and what they have found, they actually found somewhere between 300 to 500 devices in the U.S. that have actually been infected with the particular malware that this individual is talking about. That, combined with some additional research we’re doing, has led us to believe this is true. This is actually a real operation that this individual is planning to launch sometime before spring 2013.
The Swiss Federal Institute (SFI) in Zurich released a study entitled “The Network of Global Corporate Control” that proves a small consortiums of corporations – mainly banks – run the world. A mere 147 corporations which form a “super entity” have control 40% of the world’s wealth; which is the real economy.

 These mega-corporations are at the center of the global economy. The banks found to be most influential include:

• Barclays
• Goldman Sachs
• JPMorgan Chase & Co
• Vanguard Group
• Deutsche Bank
• Bank of New York Melon Corp
• Morgan Stanley
• Bank of America Corp
• Société Générale

Using mathematical models normally applied to natural systems, the researchers analyzed the world’s economy. Their data was taken from Orbis 2007, a database which lists 37 million corporations and investors. The evidence showed that the world’s largest corporations are interconnected to all other companies and their professional decisions affect all markets across the globe.

Susanne Posel is the Chief Editor of Occupy Corporatism. Our alternative news site is dedicated to reporting the news as it actually happens; not as it is spun by the corporately funded mainstream media. You can find us on our Facebook page.