FREE AK-47 When You Buy A Truck

Click this link ...... http://revolutionarypolitics.tv/video/viewVideo.php?video_id=13095&title=free-ak-47-when-you-buy-a-truck

The Federal Reserve Scam

Click this link ...... http://www.youtube.com/watch?v=oTypV_LPiYI&NR=1&feature=fvwp

The Federal Reserve is Laundering Money

Click this link ...... http://www.youtube.com/watch?v=wpmlHTeVG9A

« "The U.S. Has Lived On Borrowed Money For Too Long" »

I've highlighted relevant passages below inlcuding QE2 commentary from Schäuble.

---

In an interview with SPIEGEL, German Finance Minister Wolfgang Schäuble, 68, criticizes US calls for Germany to reduce exports, outlines his plans for an insolvency framework for indebted European nations and emphasizes the structural debt problems facing the United States.

SPIEGEL: Minister Schäuble, how well do you get along with your American counterpart, Treasury Secretary Timothy Geithner?

Schäuble: Mr. Geithner is an excellent minister. We have a good personal relationship.

SPIEGEL: Nevertheless, he constantly criticizes government officials in countries that are achieving high export surpluses and not doing enough to stimulate their domestic economies. He's referring to you, isn't he?

Schäuble: It would appear that way. That's why I tell him again and again that I think his point of view is incorrect in this regard.

SPIEGEL: All the same, the value of goods Germany sold to the United States exceeded imports from that country by almost €14 billion ($19.8 billion) last year. Can't you understand that the American treasury secretary is concerned about this?

Schäuble: No, because since we introduced the euro in Europe, the determining factor is no longer US trade with Germany, but US trade with the totality of countries in the euro zone. And in that respect the balance of trade tends to be even. So what's the problem? After all, we don't complain about the export successes of individual American states.

SPIEGEL: But the German economy benefits from the fact that German industry has focused primarily on foreign markets and wages have hardly gone up in years. The Americans see this as unfair.

Schäuble: The German export successes are not the result of some sort of currency manipulation, but of the increased competitiveness of companies. The American growth model, on the other hand, is in a deep crisis. The United States lived on borrowed money for too long, inflating its financial sector unnecessarily and neglecting its small and mid-sized industrial companies. There are many reasons for America's problems, but they don't include German export surpluses.

SPIEGEL: The US government sees it differently. It wants to see German exports to the United States curtailed in the future once they reach a certain threshold. Will you give in to the pressure?

Schäuble: The proposal is not acceptable for Germany under any circumstances. If we were to introduce such measures, we would be restricting international competition. But for years we, together with the Americans, have believed that world trade needs to be opened up further. We should stick to that approach and, for example, press ahead with the Doha round to promote world trade. This would stimulate global growth far more effectively than a bilateral agreement on quotas.

SPIEGEL: Last week, the US Federal Reserve Bank decided to flood the economy with $600 billion in new money. Will this stimulate the economy as hoped?

Schäuble: I seriously doubt that it makes sense to pump unlimited amounts of money into the markets. There is no lack of liquidity in the US economy, which is why I don't recognize the economic argument behind this measure.

SPIEGEL: The US wants to depress the value of the dollar in this way, so that it can sell its products abroad more easily. In light of the ailing US economy, isn't that a completely reasonable strategy?

Schäuble: No. The Fed's decisions bring more uncertainty to the global economy. They make it more difficult to achieve a reasonable balance between industrialized and emerging economies, and they undermine the US's credibility when it comes to fiscal policy. It's inconsistent for the Americans to accuse the Chinese of manipulating exchange rates and then to artificially depress the dollar exchange rate by printing money.

SPIEGEL: The G-20 nations will meet in South Korea this week to discuss the condition of the world economy two years after the deepest financial and economic crisis since the war. When the crisis erupted, the international community reacted with astonishing unanimity. But now many countries are trying to achieve advantages by influencing their exchange rates. Are you worried about a worldwide currency war?

Schäuble: I don't believe in such belligerent terms, but it's obvious that the global economy is in a tough situation. This is due to the enormous national debts many countries have taken on while fighting the crisis. Reducing these deficits is the primary objective, as the G-20 countries decided at their most recent summit in Toronto, where everyone, including the United States, agreed to cut their deficits by half by 2013. We should stick to these decisions, and if we do we will be able to curb unrest in the markets.

SPIEGEL: But the United States isn't the only country that's responsible for unrest in the markets. The euro crisis also continues to smolder. The risk premiums for government bonds from the crisis-plagued countries Ireland and Greece have gone up again. How much longer will it take before Europe has to issue new state guarantees?

Schäuble: I'm not that pessimistic in this regard. Although the Irish have accumulated huge debts to bail out their banks, they are making good progress in cleaning up their economy. And I also have great respect for the Greek government's resolve. A few months ago, hardly anyone would have believed that the Greeks would manage to implement such a drastic austerity program. They're moving in the right direction now.

SPIEGEL: Conditions in Europe are not as orderly as you describe. Just two weeks ago, the European Council (the EU body in Brussels that includes the heads of state and government of the membber states) decided to introduce a new crisis mechanism for over-indebted euro nations. Are you satisfied with the result?

Schäuble: The Council's decisions are a great success. Only a few weeks ago, many predicted that France would never support Germany in its commitment to a European crisis mechanism. And that the French would be willing to change the European treaties to do so was seen as completely out of the question. But then Chancellor (Angela) Merkel and President (Nicolas) Sarkozy met in Deauville and achieved a historic breakthrough on both issues. It's completely in line with the approach we Germans have always supported.

SPIEGEL: You can't possibly believe what you're saying. Until recently, Germany was demanding automatic penalties for countries that violated the debt rules of the euro zone. That demand is now off the table.

Schäuble: In Europe, it just so happens that you don't always get everything you wish for. The overwhelming majority of EU members have made it clear that they would not accept automatic sanctions. Our response was: Instead of fighting for something you can't have, we'll try to achieve what's feasible.

SPIEGEL: That sounds like supreme statesmanship. But now there will be no change to the situation on the European Council, where the offenders and the watchdogs remain identical, as former constitutional judge Paul Kirchhof has said. The countries that don't have their budgets under control are helping to decide what penalties will be imposed for that. This isn't the way to come up with effective, prompt sanctions.

Schäuble: I disagree. It will be much easier in the future to enforce sanctions against deficit sinners. We will also be able to take preventive action earlier in the game. Besides, it didn't exactly advance the German position when the red-green government (the former center-left coalition of Social Democratic Party and Green Party that governed from 1998 until 2005), together with the French government, did serious, lasting damage to the Stability and Growth Pact by saying: The pact applies to everyone, just not to the two largest member states.

Read page 2 at Der Spiegel...

Crash JPMorgan, Buy Silver Now – A Report

Source: United States Senate Records, February 17, 1950

Basically, the Art of Deception is nothing new, especially in financial markets. Deception is fundamentally at the very heart of the American Financial System given that the Federal Reserve is not a federal institution but rather a syndicate of Global Banks – also known as the World Central Banks. Some would argue – the New World Order.

THE WORLDWIDE REVOLUTION IN ON

The following Videos are representative of the Worldwide Effort Underway NOW to Crash JPMorgan by taking PHYSICAL DELIVERY of ALL METALS. Silver which is traded via ETF (electronic traded funds), where reportedly, JPMorgan and others have been MASSIVELY Overselling Silver at a rate of 100 to 1. By demanding delivery, people are legally demanding their Silver to be delivered into their possession.

There IS the possibility that as people worldwide demand delivery, the Banks will divert huge sums of cash into the ETF to bring the Spot price up to historical levels, possibly $100.00, in an effort to keep traders in the market in yet another attempt at the deception. Investors will believe the ETF are actually a tremendous investment, when in fact, it is part of a STRATEGY to escalate the SPOT price, thereby slowing the FLOW of Physical purchases. We will have to see if this is what takes place – this is my personal prediction. People with ETF should beware of this strategy which will inevitably lead to a Bull Market and the hesitation to DEMAND DELIVERY.

Of course, one should also keep in mind the foot-dragging on the part of the CFTC in investigating the scheme discovered and testified to before the CFTC Board recently by GATA Chairman Paul Murphy. GATA Chairman Paul MurphyTestifies to CFTC 1 & CFTC 2

Credit should be awarded to MAX KEISER who courageously stated on Alex Jones that there would be a possibility of CRASHING JBMORGAN by BUY SILVER as a campaign that has a dual purpose. One, and more importantly, is to create a worldwide awareness to this issue, and two, a massive discrediting of the FIAT Monetary System as a whole and the transfer of Individual Wealth into Physical Commodities – like Silver, Gold, Copper, Platinum and Palladium.

PEOPLE ARE F’ING PISSED

People are F’ING PISSED at the Evil and Deliberate Perpetration of the Economic Destruction by Design against the World Economy in what amounts to an Elite / NWO / Bankster effort to decapitate the well-being, stability and financial security of Nations the world over in what obviously is estimated to be the ENDGAME to Global Governance and Total Control of every facet of humanity through Banking and World Government.

Who else can orchestrate this but a cooperation of Global Players like The United Nations, The World Bank and other unknown and more importantly, unseen individuals. Don’t be a SHEEP – WAKE UP.

MAX KEISER

Doctors brace for possible big Medicare pay cuts

WASHINGTON – Breast cancer surgeon Kathryn Wagner has posted a warning in her waiting room about a different sort of risk to patients' health: She'll stop taking new Medicare cases if Congress allows looming cuts in doctors' pay to go through.

The scheduled cuts — the result of a failed system set up years ago to control costs — have raised alarms that real damage to Medicare could result if the lame-duck Congress winds up in a partisan standoff and fails to act by Dec. 1. That's when an initial 23 percent reduction would hit.

Neither Democrats nor newly empowered Republicans want the sudden cuts, but there's no consensus on how to stave them off. The debate over high deficits complicates matters, since every penny going to make doctors whole will probably have to come from cuts elsewhere. A reprieve of a few months may be the likeliest outcome. That may not reassure doctors.

"My frustration level is at a nine or 10 right now," said Wagner, who practices in San Antonio. "I am exceptionally exhausted with these annual and biannual threats to cut my reimbursement by drastic amounts. As a business person, I can't budget at all because I have no idea how much money is going to come in. Medicine is a business. Private practice is a business."

The cuts have nothing to do with President Barack Obama's health care overhaul. They're the consequence of a 1990s budget-balancing law whose requirements Congress has routinely postponed. But these cuts don't go away; they come back for a bigger bite.

Doctors have muddled through with temporary reprieves for years. This time, medical groups estimate that as many as two-thirds of doctors would stop taking new Medicare patients, throwing the health program for 46 million older and disabled people into turmoil just when the first baby boomers will become eligible.

Health care for military service members, families and retirees also would be jeopardized because Tricare payments are tied to Medicare's.

Former Medicare administrator Gail Wilensky, a leading Republican policy expert, says lawmakers coming back to Washington next week better take note. "We simply cannot let physicians take a 23 percent reduction in payment and think that we are not going to seriously disrupt access for beneficiaries," Wilensky said.

Yet there's no agreement among lawmakers and the Obama administration on how long a reprieve to grant or whether the cost — about $1 billion per month — should be added to the deficit or paid for with spending reductions elsewhere.

The last reprieve, in June, was paid for after a struggle to come up with offsets acceptable to Democrats and Republicans. The deadline for congressional action expired, plunging Medicare's claims system into confusion for weeks.

How did it get to be such a big mess?

There's widespread recognition that the way Medicare pays doctors is flawed because it rewards sheer volume of services, not quality results. But there's no agreement on a better way.

So in the 1990s lawmakers devised a formula for cuts as an automatic braking system to keep Medicare humming along at a sustainable growth rate.

Except every time costs went up, they hit the override button. Repealing the formula now would cost more than $280 billion over 10 years.

The American Medical Association is calling for a 13-month reprieve that would give Congress time to work on a new payment system; the administration supports that approach.

"The single biggest step we can take to strengthen Medicare ... is to make sure these disruptive cuts don't take effect," said Health and Human Services Secretary Kathleen Sebelius. "We will ultimately need a permanent fix ... but in the meantime, we don't want any doctor to be stuck in a limbo where they don't know week to week how much they'll be paid."

The AMA and Obama would settle for adding the cost to the deficit. Most Republicans and many conservative Democrats want it paid for.

Aides to the Senate Finance Committee chairman, Sen. Max Baucus, D-Mont., say he's working toward the longest possible extension that will get the 60 votes needed to pass the Senate.

Last summer, when Congress missed the deadline for an extension, Wagner had to tap her line of credit to pay the salaries of her nurses and office staff. Medicare is only a fraction of her practice, but the cancer surgeon said private insurance companies also held up payments waiting to see what would happen. "I didn't get a check in the mail for almost a month," she said.

As a doctor, she recognizes there could be grave consequences if she follows through on not taking new Medicare patients. Older women are more likely to have malignant disease than younger patients. "Those are cancers that are waiting at the door," Wagner said. She would continue to see established patients.

But she's getting closer and closer to the breaking point with Medicare.

"Stick me with a fork," said Wagner. "I'm done."

___

Ireland Goes Bust, Irish Bank Run

There was a bank run in Ireland on Wednesday. LCH Clearnet, a London based clearinghouse, surprised the markets by announcing it would increase margin requirements on Irish debt by 15 percent. That's all it took to send investors fleeing for the exits.

Yields on Irish bonds spiked sharply as banks tried to close positions or raise the capital needed to meet the new requirements. The Irish 10-year bond soared to 8.9 percent by day's end, more than 6 percentage points higher than "risk free" German sovereign debt. The ECB will have to intervene. Ireland is on its way to default. This is what a 21st century bank run looks like. Terms suddenly change in the repo market, where banks get their funding, and the whole system begins to teeter.

It's a structural problem in the so-called shadow banking system for which there's no remedy. Conventional banks exchange bonds with shadow banks for short-term loans agreeing to repurchase (repo) them at a later date. But when investors get nervous about the solvency of the bank, the collateral gets a haircut which makes it more expensive to fund operations. That sends bond yields skyrocketing increasing the liklihood of default. In this case, the debt-overhang from a burst development bubble is bearing down on the Irish government threatening to bankrupt the country. Ireland is in dire straights. Here's an excerpt from an article in this week's Irish Times which sums it up:

"Until September, Ireland had the legal option of terminating the bank guarantee on the grounds that three of the guaranteed banks had withheld material information about their solvency, in direct breach of the 1971 Central Bank Act. The way would then have been open to pass legislation along the lines of the UK’s Bank Resolution Regime, to turn the roughly €75 billion of outstanding bank debt into shares in those banks, and so end the banking crisis at a stroke.

With the €55 billion repaid, the possibility of resolving the bank crisis by sharing costs with the bondholders is now water under the bridge. Instead of the unpleasant showdown with the European Central Bank that a bank resolution would have entailed, everyone is a winner. Or everyone who matters, at least." ("If you thought the bank bailout was bad, wait until the mortgage defaults hit home", Morgan Kelley, Irish Times)

So, the Irish government could have let the bankers and bondholders suffer the losses, but decided to bail them out and pass the debts along to the taxpayers instead. Sound familiar? Only, in this case, the obligations exceed the country's ability to pay. Austerity measures alone will not fix the problem. Eventually, the debt will have to be restructured and the losses written down. Here's another clip from Kelly's article:

"As a taxpayer, what does a bailout bill of €70 billion mean? It means that every cent of income tax that you pay for the next two to three years will go to repay Anglo’s (bank) losses, every cent for the following two years will go on AIB, and every cent for the next year and a half on the others. In other words, the Irish State is insolvent: its liabilities far exceed any realistic means of repaying them....

Two things have delayed Ireland’s funeral. First, in anticipation of being booted out of bond markets, the Government built up a large pile of cash a few months ago, so that it can keep going until the New Year before it runs out of money. Although insolvent, Ireland is still liquid, for now.

Secondly, not wanting another Greek-style mess, the ECB has intervened to fund the Irish banks. Not only have Irish banks had to repay their maturing bonds, but they have been hemorrhaging funds in the inter-bank market, and the ECB has quietly stepped in with emergency funding to keep them going until it can make up its mind what to do."

Ireland has enough cash to get through the middle of next year, but then what? The bad news has rekindled fears of contagion among the PIIGS. Greece is a basketcase and Portugal's bond yields have spiked in recent weeks. Portugal's 10-year bond hit 7.33% by Wednesday's close. The euro plunged to $1.37 even though the Fed is trying to weaken the dollar by pumping another $600 billion into the financial system. Troubles on the periphery are escalating quickly dragging the 16-nation union into another crisis. This is from the Wall Street Journal:

"For a decade, Ireland was the EU's superstar. A skilled work force, high productivity and low corporate taxes drew foreign investment. The Irish, once the poor of Europe, became richer than everyone but the Luxemburgers. Fatefully, they put their newfound wealth in property.

As the European Central Bank held interest rates low, Ireland saw easy credit for construction loans and mortgages. Developers turned docklands into office towers and sheep pastures into subdivisions. In 2006, builders put up 93,419 homes, three times the rate a decade earlier....

The party ended in 2008, when the property bubble popped and the global economy tipped into recession...by September, Irish banks were struggling to borrow quick cash for daily expenses. The government thought they faced a classic liquidity squeeze. Ireland—whose hands-off regulator had assigned just three examiners to two major banks—didn't recognize the deeper problem: Banks had made too many bad loans, whose defaults would leave the lenders insolvent." ("Ireland's Fate Tied to Doomed Banks", Charles Forelle and David Enrich, Wall Street Journal)

The Irish government hurriedly put together a new agency, the National Asset Management Agency (NAMA), to buy to toxic bank loans at steep discounts., but the banks books were in much worse condition than anyone realized, more than €70 billion in bad loans altogether. By absorbing the debts, the government is condemning its people to a decade of grinding poverty and a deficit that's 32% of GDP, a record for any country in the EU.

On Thursday, at the G-20 conference in Seoul, European Commission President José Manuel Barroso, said that he was following developments in Ireland closely and that he would be ready to act if necessary. The EU has set up a €440bn bail-out fund (The European Financial Stability Fund) that can be activated in the event of an emergency, although critics say that the fund is more aspirational than a reality. The crisis in Ireland will test whether the countries that made commitments to the fund will keep-up their end of the bargain or not. If they refuse, the EU project will begin to splinter and break apart.

Ireland will surely need a bailout, although not just yet. For a while the ECB can maintain the illusion of solvency by funneling liquidity to banks via its emergency facilities. That way, bondholders in Germany and France get their pound of flesh before the ship begins to take on water. All the risk-takers and speculators will be "made whole" again before the full-force before the debts are shifted onto Irish workers. Here's how Kelly sums it up:

"Ireland faced a painful choice between imposing a resolution on banks that were too big to save or becoming insolvent, and, for whatever reason, chose the latter. Sovereign nations get to make policy choices, and we are no longer a sovereign nation in any meaningful sense of that term."