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Miss in U.S. Payrolls Spurs Talk of New Fed Stimulus

By Shobhana Chandra - Sep 7, 2012 8:23 PM ET

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Payrolls rose less than projected in August and the unemployment rate was unexpectedly driven down by Americans leaving the labor force, boosting the odds of additional Federal Reserveeasing to spur a faltering recovery.

The economy added 96,000 workers after a revised 141,000 increase in July that was smaller than initially estimated, Labor Department figures showed today in Washington. The median estimate of 92 economists surveyed by Bloomberg called for a gain of 130,000. The jobless rate fell to 8.1 percent.

Enlarge image

Job seekers attend a career fair in Midtown Manhattan, New York City. Photographer: John Moore/Getty Images

4:01

Sept. 7 (Bloomberg) –- U.S. President Barack Obama, Republican presidential nominee Mitt Romney, and Mohamed El-Erian, chief executive officer of Pacific Investment Management Co., offer their views on today’s U.S. jobs report for August, the outlook for the labor market and Federal Reserve monetary policy. This report also contains comments from Tom Porcelli, chief U.S. economist at RBC Capital Markets LLC; Matthew Ferguson, chief executive officer of Careerbuilder.com; Anne Mathias, director of Washington research at Guggenheim Securities LLC; Neil Dutta, head U.S. economist at Renaissance Marcro Research LLC, and Leo Hindery, managing partner at InterMedia Partners LP. (Source: Bloomberg)

2:49

Sept. 7 (Bloomberg) -- Bloomberg economist Joseph Brusuelas talks about the August U.S. employment report released today. The economy added 96,000 workers, less than projected, last month following a revised 141,000 increase in July that was smaller than initially estimated, Labor Department figures. The unemployment rate fell to 8.1 percent. (Joseph Brusuelas is a Bloomberg economist. The opinions expressed are his own. Source: Bloomberg)

5:18

Sept. 7 (Bloomberg) -- U.S. Labor Secretary Hilda Solis talks about the August payrolls report and economic outlook. The economy added 96,000 workers last month following a revised 141,000 increase in July that was smaller than initially estimated, Labor Department figures showed today in Washington. Solis speaks with Betty Liu on Bloomberg Television's "In the Loop." Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Co., also speaks. (Source: Bloomberg)

6:44

Sept. 7 (Bloomberg) -- Mohamed El-Erian, chief executive officer and co-chief investment officer of Pacific Investment Management Co., talks about the August U.S. employment report and the outlook for Federal Reserve policy. He talks with Betty Liu and Dominic Chu on Bloomberg Television's "In the Loop." (Source: Bloomberg)

1:44

Sept. 7 (Bloomberg) -- Payrolls rose less than projected in August and the unemployment rate declined as more Americans left the labor force, indicating the U.S. labor market is stagnating. The economy added 96,000 workers last month following a revised 141,000 rise in July that was smaller than initially estimated, Labor Department figures showed today in Washington. Unemployment fell to 8.1 percent, and hourly earnings were unchanged. Peter Cook reports on Bloomberg Television's "In the Loop." (Source: Bloomberg)

6:24

Sept. 7 (Bloomberg) -- Leo Hindery, managing partner at InterMedia Partners LP, talks about the August payrolls report and the outlook for Federal Reserve monetary policy. Payrolls rose less than projected last month and the unemployment rate declined as more Americans left the labor force, indicating the U.S. labor market is stagnating. Hindery speaks with Betty Liu, Michael McKee, Peter Cook and Dominic Chu on Bloomberg Television’s “In the Loop.” (Source: Bloomberg)

1:16

Sept. 7 (Bloomberg) -- Matthew Ferguson, chief executive officer of Careerbuilder.com, talks about the U.S. labor market. Ferguson speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)

6:19

Sept. 7 (Bloomberg) -- Tom Porcelli, chief U.S. economist at RBC Capital Markets, talks about the outlook for the U.S. labor market and economy. He speaks with Tom Keene and Sara Eisen on Bloomberg Television’s “Surveillance." (Source: Bloomberg)

4:36

Sept. 7 (Bloomberg) -- Anne Mathias, director of Washington research at Guggenheim Securities, talks about the U.S. economy and markets, and the 2012 presidential election. She speaks with Tom Keene and Sara Eisen on Bloomberg Television's "Surveillance." (Source: Bloomberg)

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Treasuries and gold rose on bets the figures make it more likely Fed policy makers will expand record monetary stimulus next week after Chairman Ben S. Bernanke called unemployment a “grave concern.” The report dealt a blow to President Barack Obama one day after he accepted the Democratic Party’s nomination for a second term.

“This is definitely a setback for the labor market and the economy,” said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York and former economist for the Fed. “This clearly validates Bernanke’s concern. We have Europe, the fiscal cliff, and it is a generally cautious business environment.”

The yield on the 10-year Treasury note, which moves inversely to price, fell one basis point to 1.67 percent. Gold futures for December delivery climbed 2 percent to $1,740.50 an ounce, a six-month high. The Standard & Poor’s 500 Index advanced 0.4 percent to 1,437.92 at the close of trading in New York, its highest level since January 2008.

Fiscal Cliff

Employers may be reluctant to expand headcounts as they face a global economic slowdown and the so-called fiscal cliff, the $600 billion of tax increases and spending cuts that will take effect automatically at the end of the year unless Congress acts.

Some companies are planning to reduce staff. Mountain View, California-based Google Inc. (GOOG) said on Aug. 13 it will cut about 4,000 positions at its Motorola Mobility Holdings Inc. unit, with about one-third of the reductions coming in the U.S. Printer maker Lexmark International Inc. (LXK) on Aug. 28 announced plans to eliminate 1,700 jobs globally.

For Kimberly Hackler of White, Georgia, the job search has been “frustrating at best, a little disheartening.” The 49- year-old has been looking for work since November, applying for about 190 positions.

‘Stable Employment’

“I’m very concerned about those of us who are unemployed and where are we going to find stable employment,” Hackler said. “I don’t see the economy improving anytime soon. I am concerned it could get worse.”

The Fed’s Bernanke, in an Aug. 31 speech in Jackson Hole,Wyoming, defended his unorthodox policies and laid out arguments for further easing, including additional large-scale asset purchases, known as quantitative easing.

Policy makers will give “strong hints” or provide “positive action” at the Sept. 12-13 Federal Open Market Committee meeting, said Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co.

The Fed will likely ease further through “open-ended” purchases of Treasuries and mortgages and extend its pledge to keep interest rates low into 2015, Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt.

With an open-ended program, the central bank would announce a monthly amount of bond purchases that would continue until the economy’s performance meets its objectives.

Party Convention

Today’s report was a setback for Obama’s hopes of gaining momentum coming out of his party’s convention and gave Republican candidate Mitt Romney another campaign weapon.

“There’s almost nothing the president has done in the last three and a half, four years that gives the American people confidence he knows what he’s doing when it comes to jobs and the economy,” Romney told reporters in Sioux City, Iowa, where his campaign plane landed.

Obama made only a passing mention of the jobs figures at his first post-convention campaign event in Portsmouth, New Hampshire.

“We know it’s not good enough,” Obama said. “We need to create more jobs, faster.”

Bloomberg survey estimates ranged from increases of 70,000 to 185,000. Revisions to prior reports subtracted a total of 41,000 jobs from payrolls in the previous two months.

Factory Employment

Factory employment fell by the most in two years, temporary-help companies eliminated positions for the first time in five months, and the share of the working-age population in thelabor force slumped to the lowest since 1981.

Private payrolls, which exclude government agencies, rose 103,000 after a revised gain of 162,000. They were projected to rise by 142,000, the survey showed.

American Axle & Manufacturing Holdings Inc. (AXL), a maker of axles and crankshafts, is among companies looking to expand as the auto industry rebounds. The Detroit-based company plans to hire 400 to 500 workers at its Three Rivers, Michigan, factory over the next two years, David Tworek, a spokesman, said in an e-mail last month.

The jobless rate fell from 8.3 percent as 368,000 Americans left the labor force. Unemployment was forecast to hold at 8.3 percent, according to the survey median. Estimates in the Bloomberg survey ranged from 8.1 percent to 8.4 percent.

Factory payrolls decreased by 15,000, compared with a survey forecast for a 10,000 increase, after a 23,000 gain in the previous month. Automakers cut 7,500 jobs last month.

Fewer Shutdowns

The figures reflected the reversal of a July increase that was propelled by fewer shutdowns at automakers for annual retooling related to the new model year. Still, carmakers may continue to add workers. Chrysler Group LLC, Ford Motor Co.,General Motors Co. (GM), Toyota Motor Corp. and Honda Motor Co. reported U.S. auto sales in August that rose more than analysts estimated as new models attracted buyers.

Employment at service-providers increased 119,000. Construction companies added 1,000 workers and retailers took on 6,100 employees. Government payrolls decreased by 7,000. The number of temporary workers decreased almost 5,000.

Average hourly earnings were little changed, and up 1.7 percent from August 2011, today’s report showed. The 12-month change matched the smallest gain since record-keeping began in 2007.

The participation rate, which indicates the share of working-age people in the labor force, fell to 63.5 percent, the lowest since September 1981, from 63.7 percent.

Sounding Alarms

Companies from Intel Corp. to FedEx Corp. are sounding alarms on the outlook for the world’s largest economy as global growth cools.

Intel, the world’s largest semiconductor maker, today slashed its third-quarter sales prediction amid declining demand for personal computers from corporate customers. FedEx this week projected its first decline in quarterly earnings in almost three years as slowing growth hurt demand for the express packages that provide most of its sales.

Payroll gains slowed from an average 226,000 in the first quarter to 73,000 in the April to June period, before picking up in July. The U.S. has managed to recover 4.1 million of the 8.8 million jobs lost as a result of the 18-month recession that ended in June 2009.

The unemployment rate, derived from a separate Labor Department survey of households, has exceeded 8 percent since February 2009, the longest stretch in monthly records going back to 1948.

To contact the reporter on this story: Shobhana Chandra in Washington atschandra1@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

http://www.bloomberg.com/news/2012-09-07/payrolls-in-u-s-rose-96-000-in-august-jobless-rate-falls.html

Aurora theater shooting court documents blows inside job conspiracy wide open

Newly released court documents in the Aurora, CO theater “Batman massacre” case reveals startling inside accusations about who may actually be behind the shootings that left at least 70 people either dead or injured in the early morning hours of July 20th.

Friday's report by the online version of Denver's Westword Magazine details shocking claims made by, what appears to be, a new victim in a case that has throttled a community still in morning over the tragic events. According to the court documents an individual, whose name has been officially redacted from the documents, came forward to file a “Motion to Intervene” for the right to be reasonably heard under the Crime Victims' Rights Act (a)(4), for the purposes of presenting newly discovered evidence to the court.

Corroborating much of a recent Conspiracy Examiner story maintaining the situation as potentially being another horrific (rogue government faction) conspiracy and possible false-flag event, the newly discovered evidence, thrown out of court by Judge William Sylvester days later, details stunning accusations against billionaire Philip Anschutz, Police Chief Dan Oates, Arapaho County Dist. Atty. Carol Chambers and, according to the alleged victim, the Illuminati as being potential co-conspirators in the crime.

The stunning accusations, dated August 27, reveal a startling story by the claimant as having been visited at home by police chief Dan Oates and Dist. Atty. Carol Chambers where they forced the unnamed individual to testify as a fake victim of the shootings, under the threat of being arrested for prostitution and escort services and charity fraud, for the purposes of garnering an easy conviction against alleged shooter James Holmes. But not before being shot by the police chief in “non-life-threatening areas” of the body, according to the motion, to appear as having been shot by James Holmes himself. The motion also claims that it is likely some of the victims in the theater were merely paid actors working on behalf of the conspirators and wants multiple individuals involved in the situation to take polygraph tests to prove their innocence.

Claiming that their conscience will not let fraudulent testimony contribute to an improper conviction of James Holmes, the new mystery victim asked that the judge submit the case to the FBI and the US Congress for further investigation into the alleged conspiracy. The judge, however, instead of taking a closer look, decided to strike down the motion as fraudulent, claiming the motion as likely being forged by an individual or individuals unassociated with the events. The judge also suggested the situation be investigated by the Arapahoe County Sheriff's office and those responsible for the motion be taken into custody by the Arapahoe County Department of Human Services and “referred to the appropriate mental health agency.”

But it may in fact be the judge that needs the mental attention as all the evidence collected in the case thus far seems to point toward mostly agreeing with the individual who filed the claim, despite the media and the court's attempts to suppress any evidence that doesn't support the official story. Multiple and corroborating eyewitness testimony stated what appeared to be multiple individuals involved in the shooting, including supporting official dispatch audio. Individuals interviewed by local media immediately after the event also claimed to have seen teargas canisters being deployed in the theater simultaneously from two different directions, in addition to side-by-side images of James Holmes prior to the shootings and the orange haired individual taken into custody as the alleged lone gunmen after the event looks startlingly like two different individuals. There also seems to have been two different gas masks found at the scene, in addition to other damning evidence that doesn't jive with the official version of the events.

The individual who filed the motion also added that they wanted their portion of the charity to be donated to James Holmes' prison commissary, after using the money to find Mr. Holmes “real” attorneys who are actually willing to act in the honest defense of James Holmes.

The motion, as certified by the Arapahoe County Dist. Atty. And public defenders offices, was sent via the United States Postal Service, then was quickly denied and subsequently released days ago to the public for reasons yet to be determined.

Perhaps one of the most telling aspects of the circumstances, however, happens to be the creepy dead silence about the motion by the media, especially considering every little detail about a situation like this is normally scrutinized at every angle after being groomed with a fine tooth comb and examined under a microscope.

It was just weeks ago that certain local media outlets were considering suing for access to court records because, according to those outlets, the community had a right to know so the victims and the community could more easily begin the healing process and find some semblance of closure. Perhaps information that may open new wounds, however, regardless of how accurate or important that information may be, may not be the kind of information they were looking for.

Here it is folks
[link to www.examiner.com] 

http://www.godlikeproductions.com/forum1/message1981745/pg1

WGS- an expanded update

WGS- an expanded update After posting my article "World Global Settlements: History and Update" this morning, enerchi from http://www.ascensionwithearth.com/  asked me a couple of questions.  I was about halfway through my answer when I realized that the response was another article itself, lol. Wanted to get your take on the difference between the WGS, Collateral Accounts, NESARA, Saint Germaine Funds, Prosperity Programs. Correct me if I'm wrong.... *WGS - Being handled by the White Hats Group and worth $47 trillion dollars *Collateral Accounts - Neil Keenan and The Soekarno Trust *ST. Germaine Trust - The largest trust of them all. *NESARA - A law that will use funds from the ST. Germaine Trust *Prosperity Programs - Originally Bank Roll programs now being paid out to participants Is the revalue of the Iraqi Dinar and the CMKZ payouts directly linked to the WGS, or is it another trust? THAT is the tough question.  For obvious reasons of extreme secrecy, getting absolute info is very difficult, so confirmed information with regards to the Collateral accounts, the Wanta Regan Mitterand accords, the St. Germaine Trust, and most especially NESARA, is very very hard to get.  Because the truth is so heavily shrouded in secrecy, many people get the various funds/settlements etc confused. This is my understanding from everything I've been told and researched: -WGS- I'm not certain of the final  dollar amount on this, or that the "white hats" are involved directly- it is THIS money that is discussed in article from this morning (see link above). This "fund" may also include the White Dragon funds and the money involved with the Neil Keenan suits and the Soekarno trust, but I haven't been able to get 100% confirmation.  -Collateral Accounts- This title is a bit of a misnomer.  Usually when people talk about the Collateral Accounts they are meaning the Wanta Regan Mitterand Accords. -Wanta Regan Mitterand Accords- This money has been hugely abused by the Cabal and has been blocked, stolen, and violated several times.  I have no concrete amount that it totals, but it's definitely in the Trillions.  I have confirmations that this money was released this week.  -St Germaine Trust- this is an enigma- I haven't been able to find anything that I consider "concrete" on this money- I believe it exists, but the details of where it is and who is responsible for it are very unclear. -NESARA- again, due to the complete legal lock down of all information and strict gag orders against anyone who is involved, it's very difficult to get any kind of exact amount, what is involved with it legally, and most importantly, where the funding for this will come from.  I do not believe that it is exactly what many people have been told by the various Nesara websites, but the basic premise of debt relief and a return to the constitution are part of it. I suspect that it might be funding through the Wanta Regan Miterand Accords... but I can not get any hard confirmation right now, and I suspect that we will not know EXACTLY how it will work until it's in place. -Prosperity Programs- there are many of them and they come from different areas- some are bank roll programs as you said. As I understand it the IQD revaluation and the CMKZ payouts are all tied together with the WGS and the PPs.  How exactly they are tied together?  Which is funding which?..... very few people know the exact answers to those questions.  The big question is how much are each of these  "funds" worth.  I know the amount that has been "brought in", but I haven't been able to get a straight answer from anyone as to which accounts/funds/programs/accords/settlements are accountable in the total, therefore I haven't been able to determine (concretely) which of the above funds has already been paid out partially or completely, and which funds need to still be "paid out". ...But I am hoping to have more info on much of this very soon. Posted by Breaking The Silence at 12:35 No comments: Labels: CMZK payouts, collateral accounts, Iraqi dinar revaluation, NESARA, prosperity packages, St Germaine trust, wanta regan accords, WGS, world global settlements World Global Settlements: Updates and history The World Global Settlements are a hot topic.  A VERY important hot topic.  The following conference call gives a huge amount of information, coming from an exceptional source who has been personally involved for many many years. I highly recommend that everyone listens to this recorded call from yesterday- vital information is given, not only about the  WGS but also the RV. ...My friends, your world is about to change.  We are waiting for one single phone call. The big question right now is whom is going to claim this?  The bickering between political entities is getting very tiring.  Regardless of who announces it, regardless of who points their finger at themselves as being the self proclaimed saviour, we all know who did NOT help bring about these amazing changes. https://www.freeconferencecallhd.com/playback.asp?n=1394-17-65-67-17-65-67-17-65-67-17-65-675-17-65-67-33-110-17-65-67-17-65-67-17-65-67-50-11686%3b0MTA3MjgzMDk=1 Posted by Breaking The Silence at 08:13 2 comments: Labels: ptr conference call, rv, WGS, world global settlements

Dr. Todd CC (transcribed) – 09-06-12 - Part 1

09/07/2012

Dr. Todd CC (transcribed) – 09-06-12 - Part 1

Gary: I have a friend I brought in on the call. You asked for an explanation on the global funds, so I thought I would go to an expert who basically crested some of that and his history goes way back. I kind of tracked down Dr. Todd and asked him if he would join us on this call and explain what the global funds are because most people tie them into lawsuits and other things, but it’s part of a plan that has been brought to fruition and I know that he is currently involved in some things going on with that, so I figured he would be able to answer it. Dr. Todd can you hear me right now ??

Dr. Todd: Yes. Go ahead.

Gary: We have heard so much about these global funds and people not being able to, you know they’re part of a lawsuit. There is a lot of half truth and lot of reality here in some other fronts. I would really like some explanation as to what is this global fund that people have been working on and countries have been working with and I know those funds have been moved around between some very high profile banks and have had a history that you’re very aware of. I’m hoping you might be able to put a little clarification of what it’s all about and what the expectations are. Is it real ?

Tony: Let me ask this first be before we get started. I want to make sure this is still the global settlements and the global fund. That you are talking about the same thing. Is this a lawsuit and are people able to buy into. Re we talking about the same thing ?

Gary: Yeah we are because there has been partial misinformation and there has been other stretches or spins put on it and so I think the real situation we have to back up and find what the real terminology is tied in with and where it goes. Once you see reality, once you see a real dollar bill you can point to the false entities out there and get an understanding of the asset based. This would be a great opportunity for people to get a real understanding of what’s really going on internationally with currencies. So Dr. Todd I’ll start with what is a global fund. Where does it come from ?

Dr. Todd: Well the name as I understand it that is used most today in global settlements. Let’s go back to the origin of this and then the other key factor is these funds were due to be completely paid off by 2008 according to a Treasury treaty that was set in for 50 years in 1958. Now what was origin of those funds that were included at that time (in 1958) and how did this come about at that time ? The duration for 50 years was decided post World War II.

The banks in Europe essentially had little that they could put in acceptable assets that could be used for the redeveloped at that time. This was set up initially in the Marshall Plan. It was limited to just a few years. Initially, three years and then certain extensions for another several years. This completely went out as having a legislative base. The U.S. supported those from guarantees from the Treasury that were never made public. Where did they get the funds that the banks initially issued to come into this ?

The Marshall Plan itself was not developed in any way shape or form to take care of the Far East. There was tremendous reconstruction that had to take place there. There was more gold and real assets available in the Far East then were currently available in Europe at that time. General MacArthur had the complete control of reconstruction. That authority was not relinquished until he was fired by President Truman in 1951.

That came so suddenly that his successor, General Ridgeway, took over as the U.S. and UN supreme headquarters for the Far East in Tokyo. General MacArthur’s chief of staff, General Whitney, at that time also a full general, not a five star, but he ranked General Ridgeway just slightly on what is known in the service as state of rank. Gen Ridgeway’s mission and command made him the senior person. The chief thing they had to do there was to work out everything from an economic standpoint and a financial standpoint that Gen McArthur had started.

General Whitney was given complete control of that reporting back to General Bradley who at that time was Chief of Staff and to the president. By Treasury treaty we further guaranteed much of the bank operations of the top banks in Europe at that time. The person that was in control of all of this and remains in control of all of it today is Queen Elizabeth. I think that very soon she will be divesting herself all of that and this will come about. How did Queen Elizabeth get control of this ?

These funds were so important and meaningful internationally and would be for a number of years that they wanted a person with real longevity to have it. Initially they went to the Vatican who fortuitously turned it down. When they took a second look at it, they wanted somebody who was going to have the longevity and they felt that Queen Elizabeth and the status of Great Britain both long term prior to that and even them. They felt they could trust the longevity of the monarchy. Therefore her father set up a sacred oath that she would take this on and see it through for the 50 year period.

50 years was selected because they did not feel the reconstruction could not be done in less time. We all know that is occurred very well both in Japan and in Europe in roughly twenty years. They were back with a lot that had been done. That speaks well for the people in the worst hit areas in Europe and primarily Japan. Because of the firing of MacArthur and the reconstruction of that, most of this work was not completed until about 1954 in the Far East command that Gen Ridgeway had at that time and General Whitney was working on.

The funds based there at that time does not sound like a great deal in the world today, but all of you are aware of what they call private placements now. The nomenclature of these things since WWII has taken on a number of names as has the global settlements over those periods of time. They were looking at something at times just above and at times just below100 billion dollars. The US had guaranteed somewhere in excess of 20 billion dollars, but the value of gold and where it was in getting those things together and signed over in transactions over the 50 years brought this into several trillions of dollars. Like I said that should have been paid in full prior to 2008 which was the 50th anniversary of the 1958.

Dr Todd: The question probably comes at this time is probably how do I know about these things ?

I was an air control officer just after hostilities in Korea. They had been working on this for some time, but they needed to be able to secretly move things back and forth particularly in the Far East to settle the final things. There was a committee was set up to make the final report and I was the junior officer that helped write the report that went to our president, Queen Elizabeth and the key person in the Far East that it went to. It’s in the Emperor’s records themselves.

I think that the point to make after that is how did these things grow and was there any litigation involving any of this? There was litigation, all of which was set aside. That doesn’t mean that they didn’t get certain things out and there weren’t certain uses of it. Because there were. If you recall in the later 50’s there was quite a bit of contention between Taiwan and China of the earliest parse. The shelling of Matsu and Quimoi which were close to the Chinese mainland. This was settled out and some of those funds it was deemed necessary because China hadn’t initially had any of those funds. Things had settled down over there comparatively with definite communist takeover of mainland China. Things under Cheng Hi Shek over Taiwan, they needed some funds to solidify that transaction and to satisfy China.

Some gold and certain other parts of this were moved around to accomplish this. Not large amounts of it, but modest amounts. That was sort of the rebirth in mainland China of some of its’ earliest gold holdings by the communist government. They hadn’t gotten into full force of holding this together. That’s also how they came into this today as things were involved.

Dr. Todd: With this having essentially not been paid out before 2008 it was long about then that the dinar situation had come up and one of the stipulations in the settlement that General Schwartzkopf had in the ceasefire, in the tent, in the desert, had an administrative memorandum that came about a week later from Washington because Washington was leading that coalition that substantially beat Iraq during the Kuwait war. In that administrative memorandum showed that in order for Iraq to regain sovereignty it had to have in place a new currency, a new dinar and essentially that was supposed to be, it was in writing in the administrative memorandum, it was supposed to be before Iraq could take full sovereignty. There could be no time frame placed on that.

 This administration, the present one, apparently changed that because we all know that sovereignty went to them roughly speaking a year ago.

Tony: Let me interrupt you for a second. I want to stop you there for a moment because you said that was during the Kuwait/Iraq war. That that agreement came, but the Iraq war came years later.

Dr. Todd: Iraq attacked Kuwait in 1990 (code name: Desert Storm). From that time on the U.S. and the allied forces that were there were given clear control of the skies and that is part of what lead to the Iraq war itself, not the Kuwait/Iraq war.

Tony: OK. I wanted you to separate the two.

Dr Todd: Them regaining sovereignty went back to the first Iraqi war and that was kicking them out of Kuwait. At that time rather than going ahead and make the payments that should have been coming, I would have said at least from 2004, when all of these things were set up in1954, but they extended that time to 2008 based on 50 years after the US Treasury Treaty. So that’s what gave the origin in that 50 years was a building of the banks primarily in Europe. The active bank in the Far East that was handling that was Mitsubishi Bank. That is where part of the funds that still have to be paid out now are designated as the global settlements.

Part of it is there and the rest is controlled in London by the Royal Bank of Scotland because the Queen had initially set it earlier on in Barclays, but 5 about years ago she moved that responsibility to the Royal Bank of Scotland. Most of the keys banks in Europe will be taking care of their part of the settlement, but the Queen has not yet designated, but in all probability it will move through the Royal Bank of Scotland because that’s the bank that she controls and the Bank of England, being the central bank of the UK, does not want to do it.

They want a key commercial bank in the UK to do it. That’s where these things are going to come out from. This wasn’t fully done until Ike was president and he had taken over from Harry Truman in 1953. That’s when it was signed and most of the things went through. All of the presidents since then have been aware of this and have let it remain essentially where it was. When Bush Sr. went to China, as the ambassador, there were some arrangements made for them to have a greater participation. There will be sector groups, government and such that will be paid out and there are private sector groups that will be paid out because that’s where the original gold and assets came. Some of that private sector was the Far East, some in Europe and some in the U.S.

It was guaranteed up to 20 billion by the U.S. The U.S. will be getting one of the larger amounts out of those global settlements. This was also known as the patriot package. All of this was aggregated and the person who took the responsibility was the Queen. All of this has been kept quiet. All of you that are involved in this, I don’t think any of you have seen in the major media or in all of the financial papers (Wall St Journal, Economist out of the UK).

Little or nothing has been mentioned in these. Citizens in the U.S. and worldwide, the vast majority of them know little or nothing about this. That’s the way it came up. Most of the legal suits that came up have been knocked down or held up until the World Court (The Hague) makes determinations, if necessary, later as they are paid out.

Dr Todd: There are no major lawsuits that are considered active that haven’t been laid aside to be adjudicated until a later time if in fact they are dismissed entirely. The vast majority will be dismissed simply because the aggregate funds are built to the extent that everyone will be satisfied.

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