An RV Theory - Dec 31st, 2012

An RV Theory - Dec 31st, 2012

This is a synopsis by KingDinar

My hopes is this will be a history lesson as well as a detailed theory
of the Iraq RV that does nothing more than make you think, maybe bring
you to a calm state in your investment.

Iraq plans to remove 3 zero’s. This is not a new plan. Actually, this
was a designed plan that began back in 2004. In 2004, Iraq came out
with the 25 Dinar and 100 Dinar coins.

Stop and think for a minute. This was a time when the Dinar was well
into 3500 Dinars to 1 US Dollar. Why in the world would a country
bring out a coin so low in value during this particular time?

Reason is, they were planning to drop the 3 zeros way back in 2004.
When it didn’t happened as planned, and they had the coins distributed
throughout the country, people were so angry that they were throwing
them in the streets.

I have been collecting articles since 2005, and last year my computer
crashed and lost it all. I spent the last two weeks digging up as many
articles I could before presenting this. Some, the important ones, I
will have links to, others I have copied from other sites in their
archives. While collecting these articles, I created a timeline for
the last 7 years which displays each article, and who was quoted in
the article. Then as the time went, and if it was later found to be
true, they got a green check ✓, if untrue they got a red X .
The reason I did this was so I could tell over time, who was the ones
to listen to and who not to.

Surprising, Saleh and Shabibi, both from CBI, were the only two over 7
years that spoke truths.

Also, please understand when we translate the articles, using whatever
source (Google, etc) it never comes out correctly, which is why you
see things as watermelon and others pop up. Also the past, present,
and future tense gets scrambled in the translations. My two friends,
one in Jordan and the other in Turkey assists me in translating many
of these articles rather than using the translators so common mistakes
are not made. Back to the theory.

Iraq has tried to RV their currency every year from 2005 to 2008
without success as you already know. What started out to be a fix for
the US situation, turned out to actually be a global fix as has been
stated. Why they did not try to RV their currency from 18 January,
2009 - 16 January 2012, was due to an agreement Iraq had with the IMF
to show they could keep inflation down for 3 years without changing
their currency rate. Funny thing is, not one person caught this during
these 3 years. During this time, the Iraq Dinar was bought like crazy
as many stated it was going to RV so many times during this 3 year
period.

My thought was this was intentional, not by our gurus, but by our
government. Our government wanted US citizens to buy the Dinars like
they were going out of style. Why? Well, one reason, tax dollars on RV
time. Secondly, I believe the US wanted a certain amount obtained by
us which it turn would be the global currency needed along side of
gold for when the global reset occurs. Thirdly, this was needed to
assist Iraq in raising their cash on hand. As I am sure many other
countries have also done. Now I mentioned global reset for a reason
and will back it with articles to prove this. Iraq Dinar will be the
global currency that will sit with gold in each country to back each
countries currencies.

The reason Iraq was picked (by the world) to be the world financial
fix was they are the only country in the world that has a currency
that can be backed by cash in hand. Iraq already is a gold backed
country (black gold and real gold). Also a snippet taken from this
article LINK : http://caribbeanbusinesspr.com/news0...=68200&ct_id=1
“As Iraq — with one of the world’s largest untapped oil
deposits—continues to increase its oil production output for export,
the discovery of large quantities of gold changes the economic
landscape for the Middle Eastern country.” Another article stated Iraq
is pulling more ounces of gold from the ground per day than they are
barrels of oil per day.

Now we saw it mentioned probably 6 to 10 times each year from 2005 to
2011 talking about (lifting, removing, deleting, or lower denoms)
currency adjustments. During 2006 through 2009 so many referred to
this as a LOP when in truth it was the opposite. Some stated it was
removing 3 zeros from $0.00085, others thought it was removing the
Dinars with 3 zeros on it. The whole time it was referring to bringing
in a new set of currencies to go with the currency they already have.
It wasn’t until 2012, that we really started seeing many articles
referencing deleting the zeros. And in 2012, we know parliament
finally agreed and supported this to happen. If any saw the London
website where it had the picture of the 25,000 Iraq dinar and the
caption above stating Maliki approved and the statement below that
said CBI was planning to drop the zeros. Why do you think Iraq felt
they needed to add this on this website. So the heavy investors could
see, Iraq is ready. Iraq, is a safe and wealthy place to invest. Also
remember that every country Central Bank directors were at this
meeting in addition to WB, IMF, WTO, and the UN. This little picture
of the 25000 Dinar was a huge statement to all of these folks.

Iraq has all along had the plan to add new bills to the currency they
already have. You have to remember, Iraq has only one country to mimic
a democratic country by, and that’s USA. So they are doing exactly
what we have already done. We had the $10,000, $5,000 and $1,000 bills
and slowly removed them from circulation. They still exist, just used
between banks. Now we have the $100 and lower bills. Iraq is printing
(some say its printed already but I can show they are wrong) new bills
with lower numbers or values just as we did. Then when they come out,
they will draw in the larger notes which will be the global currency
used just by Central Banks. They never intended to replace the
currency we have.

Now to quickly show they have not completed printing the new currency,
I have an article LINK
http://translate.google.com/translat...100192&act=url that is Shabibi
telling the people and Parliament in a press release that the new
currency will not be ready in time (1 January 2013) and not to worry
as Shabibi says we have plenty of coinage in the vaults from 2004 and
2005 to use until the new currency is ready. Here is how it is stated
below:

Quote: “Noted that the central bank has reserves currency so that they
can in the process of deletion of zeros and coverage significantly.”

Also in this article, the deputy governor of CBI Mohammed Saleh states
that the delete the 3 zeros (RV) needs to be at the beginning of the
fiscal year (1 January). As this snippet taken from an article on 23
July 2012.

CBI: Zero’s must drop at beginning of year; Would cause accounting problems

July 23rd, 2012

The deputy governor of the Central Bank of the appearance of Mohammed
Saleh (Center Brief for the Iraqi Media Network) that “the project to
delete the three zeroes from the Iraqi currency needs a new financial
period, because all accounts start the new currency may be registered
books accounting currency different from the work recorded the
beginning of the year “.

Now, since we have not RV’d at this time. And everything I want to get
in here I can’t as to its size, let me hit the point that it is easy
to know when it will be. LINK
http://translate.google.com/translat...iew_33268.html In this article
we have it too plainly stated, as well as this 2010 article snippet
below:

Central Bank: raise three zeroes from the Iraqi currency will not be
two years ago
(correctly translated is “for 2 more years”)
26.05.2010
Hassan Rashed
Widened in recent calls to the Central Bank of Iraq need to direct
project raise three zeroes from the local currency, in the background
of the increased security risks faced by the transfer of banknotes
between banks and their branches in Baghdad and the provinces, as well
and leading the other caused by the wide circulation of large amounts
of Iraqi currency, which suffered from chronic inflation back to
almost three decades.
Despite the approval by the Iraqi Finance to draft up zeroes, but the
central bank adviser, Dr. appearance of Mohammed Saleh says the issue
is not as urgent cases and it is linked to achieving full economic
stability in Iraq.
He explained the appearance of Mohammed Saleh in a statement to Radio
Free Iraq that the process of initiating a zeros will not be two years
ago. (remember past, present, future is distorted when using
translators)
My interpretation is: Basically saying that the process of dropping
the 3 zeros will not be for 2 more years.

So basically we are at the end of our journey. We have maybe less than
90 days to go to never wait for this anymore. Be done, fineto, over
with. Hang in there. Your really going to enjoy the rate. No where
near what most predict. Definitely higher. Clue: the longer they
waited, the more of a fix that is needed, the more valuable your
dinars have become.

Bless to all.

Illusion Of Recovery - Feelings Versus Facts

Guest Post: Illusion Of Recovery - Feelings Versus Facts

Submitted by Tyler Durden on 02/06/2012 15:56 -0400

Submitted by Jim Quinn of The Burning Platform

Illusion Of Recovery - Feelings Versus Facts

“There is no means of avoiding a final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as the final and total catastrophe of the currency involved.” – Ludwig von Mises

  

The last week has offered an amusing display of the difference between the cheerleading corporate mainstream media, lying Wall Street shills and the critical thinking analysts like Zero Hedge, Mike Shedlock, Jesse, and John Hussman. What passes for journalism at CNBC and the rest of the mainstream print and TV media is beyond laughable. Their America is all about feelings. Are we confident? Are we bullish? Are we optimistic about the future? America has turned into a giant confidence game. The governing elite spend their time spinning stories about recovery and manipulating public opinion so people will feel good and spend money. Facts are inconvenient to their storyline. The truth is for suckers. They know what is best for us and will tell us what to do and when to do it.

The false storyline last week was the dramatic surge in new jobs. This fantastic news was utilized by the six banks that account for 80% of the stock market trading to propel the NASDAQ to an eleven year high and the Dow Jones to a four year high. The compliant corporate press did their part with blaring headlines of good cheer. The entire sham was designed to make Joe the Plumber pull out one of his 15 credit cards and buy a new 72 inch 3D HDTV for this weekend’s Super Bowl. When you watch a CNBC talking head interviewing a Wall Street shyster realize you have the 1% interviewing the .01% about how great things are.

What you most certainly did not hear from the MSM is that the NASDAQ is still down 42% from its 2000 high of 5,048. None of the brain dead twits on CNBC pointed out the S&P 500 is trading at the exact same level it reached on April 8, 1999. Twelve or thirteen years of zero or negative returns are meaningless when a story needs to be sold. On Friday the hyperbole utilized by the media mouthpieces was off the charts, leading to an all-out brawl between the critical thinking blogosphere and the non-thinking ”professionals” spouting the government sanctioned propaganda. Accusations flew back and forth about who was misinterpreting the data. I found it hysterical that anyone would debate the accuracy of BLS (Bureau of Lies & Swindles) data.

The drones at this government propaganda agency relentlessly massage the data until they achieve a happy ending. They use a birth/death model to create jobs out of thin air, later adjusting those phantom jobs away in a press release on a Friday night. They create new categories of Americans to pretend they aren’t really unemployed. They use more models to make adjustments for seasonality. Then they make massive one-time adjustments for the Census. Essentially, you can conclude that anything the BLS reports on a monthly basis is a wild ass guess, massaged to present the most optimistic view of the world. The government preferred unemployment rate of 8.3% is a terrible joke and the MSM dutifully spouts this drivel to a zombie-like public. If the governing elite were to report the truth, the public would realize we are in the midst of a 2nd Great Depression.

The unemployment rate during the Great Depression reached 25%. Without the BLS “adjustments” the real unemployment rate in this country is 23%. Cheerleading and packaging the data in a way to mislead the public does not change the facts:

• There are 242 million working age Americans. Only 142 million Americans are working. For the math challenged, such as CNBC analysts, that means 100 million working age Americans (41.5%) are not working. But don’t worry, the BLS says the unemployment rate is only 8.3%. Things are going so swimmingly well in this country the other 33.2% are kicking back enjoying the good life.
• The labor force participation rate and employment to population ratio are at 30 year lows. The number of Americans supposedly not in the labor force is at an all-time record of 87.9 million. A corporate MSM pundit like Steve Liesman would explain this away as the Baby Boomers beginning to retire. Great storyline, but the facts prove that old timers are so desperate for cash they have dramatically increased their participation in the labor market.

 

• The data being dished out by the government on a daily basis does not pass the smell test. The working age population since 2000 has grown by 30 million people. The number of people working has grown by only 4.7 million. A critical thinker would conclude the unemployment rate should be dramatically higher than the reported 8.3%. But the government falsely reports the labor force has only increased by 11.8 million in the last eleven years. They have the gall to report that 17.9 million Americans just decided to leave the workforce. The economy was booming in 2000. It sucks today. Don’t more people need jobs when times are tougher? The Boomers retiring storyline has already proven to be false. The fact that 46 million (15% of total population) people are on food stamps is a testament to the BLS lie. A look at history proves how badly the current figures reek to high heaven:
  • 2000 to 2011 - Not in Labor Force increased by 17.9 million.
  • 1990?s – Not in Labor Force increased by 5 million.
  • 1980?s – Not in Labor Force increased by 1.7 million.
• The Not in the Labor Force category is utilized to hide how bad the employment situation in this country really is. They conclude that 17 million out of 38 million Americans between the ages of 16 and 24 are not in the labor force. That is complete bullshit. From the time I turned 16, I worked. Everyone I knew worked. I worked through high school and college. It is a lie that 45% of these people don’t want a job. If you dig into their data, you realize the horrific state of employment in this country:
  • 74% of 16 to 19 year olds are not employed
  • 85% of black 16 to 19 year olds are not employed
  • 31% of black 25 to 54 year old men are not employed
  • 40% of 20 to 24 year olds are not employed
  • 22% of 25 to 29 year old males are not employed
  • 22% of 50 to 54 year old males are not employed
  • According to the BLS, 11% of men between 25 and 54 are not in the labor force

Not only is real unemployment at Depressionary levels, but those that do have jobs are falling further and further behind. Wages have gone up less than 2% in the last year and have been rising at an annual rate below 3% for the last four years. According to our friends at the BLS, inflation has risen 3% in the last year. This is almost as ludicrous as their unemployment rate. Anyone living in the real world, as opposed to the BLS model world, knows that inflation on the things we need to live has been rising in excess of 10%. It is a fact that if you measure CPI exactly as it was measured in 1980, at the outset of our great debt inflation, it exceeds 10% versus the fake 3% reported without question by the MSM to a non-thinking public. A poor schmuck making the median salary of $25,000 who gets a 2% raise thinks he has $500 more to spend when in reality he has lost $2,000 of purchasing power. Federal Reserve created inflation is an insidious hidden tax that destroys the 99%, while enriching the 1%.

Until Debt Do Us Part

“Insanity is doing the same thing, over and over again, but expecting different results.” – Albert Einstein

The recovery storyline being touted by the oligarchy of politicians, bankers and media is designed to make consumers feel better. This is a key part of their master plan. Any honest assessment of the financial disaster that struck in 2008 would conclude it was caused by too much debt peddled to too many people incapable of paying it back, too few banks having too much power, the Federal Reserve keeping interest rates too low for too long, and that same Federal Reserve doing too little regulating of the Too Big To Fail Wall Street mega-banks. I wonder what Albert Einstein would think about the “solutions” rolled out to fix our debt problem. Would he find it insane that total credit market debt has actually risen to an all-time high of $53.8 trillion, up $533 billion from the previous 2008 peak? Our leaders have added $6.1 trillion to our National Debt in the last four years, a mere 66% increase. This unprecedented level of borrowing certainly did not benefit the American people, as real GDP has risen by $96 billion, or 0.7%, over the last four years.

Would Einstein find it insane that the governing elite would encourage the 4 biggest banks, that were the main culprits in creating a worldwide financial collapse, to actually get bigger? The largest banks in the U.S. now control 72% of all the deposits in the country versus 68.5% in 2008. The Too Big To Fail are now Too Bigger To Fail. Rather than liquidating the bad debts, breaking up the insolvent banks, selling off the good assets to well run banks, firing the executives, and wiping out the shareholders & bondholders foolish enough to invest in these badly run casinos, the powers that be chose to protect their fellow .01% brethren and throw the 99% under the bus.

Ben Bernanke, in conjunction with Tim Geithner and his masters on Wall Street, implemented a zero interest rate policy designed to enrich the Wall Street banks, force investors into the stock market, and encourage Americans to borrow and spend like it was 2005 again. Rather than accepting that our economy has been warped for decades, with over-consumption utilizing debt as the driving force, and allowing a reset, the Federal Reserve insanely encouraging banks and consumers to do the same thing again. We do know Bernanke has stolen $450 billion of interest income going to savers and senior citizens and handed it to Jamie Dimon, Vikrim Pandit, Lloyd Blankfein and the rest of the Wall Street cabal. The “austerity is bad” storyline is pounded home on a daily basis by the politicians, corporate chieftains, Wall Street billionaires, and MSM pundits. The definition of austere is “practicing great self-denial”. Did you see the mob scenes on Black Friday? Americans are incapable of any self-denial, let alone great self-denial, and the masters of our country will not allow it to happen. One look at our GDP figures confirms the non-austerity occurring in this country. In 2007, prior to the collapse, consumer spending accounted for 69.7% of GDP. Today, consumer spending accounts for 71% of GDP, with investment accounting for 12.7% of GDP. In the good old days of 1979 prior to the epic debt bubble, when the financial industry do not run this country, consumer spending accounted for 62% of GDP and investment accounted for 19% of GDP. What an insane concept. You spend less than you make and save the difference. You then invest that money where you can get a reasonable return (.15% in a money market account is not exactly reasonable).

As Ludwig von Mises pointed out, a false boom created by credit expansion will ultimately collapse. We had the chance in 2008 – 2009 to voluntarily abandon the Wall Street induced credit expansion and allow our country to reset. The pain and misery would have been great, especially for the 1% who own most of the stocks, bonds and peddle the debt to the ignorant masses. As you can see in the chart below, the powers that be need debt per employed American to grow at an ever increasing rate to maintain their power and wealth. The miniscule reduction in debt from 2009 to 2011 was unacceptable. The governing powers will not be satisfied until von Mises’ final currency catastrophe is achieved.

Bernanke and his Wall Street puppet masters’ plan is actually quite simple. It’s essentially a confidence game. A confidence game (also known as a con, flim flam, gaffle, grift, hustle, scam, scheme, or swindle) is an attempt to defraud a group by gaining their confidence. The people who commit such tricks are often known as con men, con artists, or grifters. The con man often works with one or more accomplices called shills, who help manipulate the mark into accepting the con man’s plan. In a traditional confidence game, the mark is led to believe that he will be able to win money or some other prize by doing some task. The accomplices may pretend to be random strangers who have benefited from successfully performing the task. Bernanke and the 1% are the con men. They are attempting to defraud the 99% by convincing them their “solutions” will benefit them. The shills acting as accomplices are Wall Street bankers, bought off economists, politicians, journalists, and mainstream media pundits. You are the mark. The game has multiple facets but is based on more freely flowing low interest easy debt. The con man has reduced interest rates to zero at the behest of his puppet masters. The Wall Street accomplices offer enticing financing to the marks for big ticket items like automobiles, furniture and electronics. As the marks go further into debt, the Wall Street shills report record earnings ($26 billion from loan loss reserve accounting entries), consumer spending rises and GDP goes higher. The mainstream media accomplices dutifully report an improving economy. The government accomplices massage the employment and inflation data and declare a jobs recovery with no inflation. The marks are supposed to feel better about the future and spend even more borrowed money. This is what is considered a self-sustaining recovery by the psychopaths running this country.

All you have to do is open your daily paper to see the confidence game in full display. Last week the MSM reported another surge in automobile sales. Our beloved American automobile manufacturers are back baby!!! Automobile sales are now pacing above 14 million on an annual basis. This is up from the depths of the recession in 2009 when the annual rate was below 10 million. We’ve breached the Cash For Clunkers level and there is nowhere to go but up. The storyline is that Obama was right to save GM and Chrysler with your tax dollars. They are now making splendid vehicles (except for the exploding Chevy Volts) and employing millions of Americans. This is a true American comeback success story. Clint Eastwood should do a commercial about it.

There is one little problem with this storyline. It’s bullshit. Remember GMAC? You bailed them out when all their subprime auto and mortgage loans went bad in 2009. They have a brand new business plan. Change your name to Ally Bank and start making as many subprime auto loans as possible. You will be happy to know that according to Experian, 45% of all auto loans being made today are to subprime borrowers. What could possibly go wrong? In addition, the average loan term has grown to almost 6 years. Executives at Ally Financial said that subprime car lending had become “very attractive” because profit margins on the loans more than cover the cost of expected losses from borrowers who fail to repay what they owe. I’m sure they have everything completely under control. Gina Proia, a company spokeswoman, said the company places “greater emphasis on the higher end of the nonprime spectrum” and only lends to people who show they can pay. I can’t believe they are restricting their loans to only people who they think can pay. I’m surprised Obama isn’t condemning them for such restrictive loan terms. If you open your paper to the auto section you will see financing offers of $0 down-payment, and 0% interest for 7 years across the board on most models. But why buy, when you can lease a luxury automobile for $300 per month? It is simply amazing how many vehicles you can “sell” when “credit challenged” Americans can rent them for seven years. I wonder if this explains why I see dozens of $40,000 luxury autos parked in front of $25,000 dilapidated hovels during my daily commute through West Philadelphia. It also seems the Big Three are “selling” a few extra vehicles to their dealers in January as pointed out by Zero Hedge. No need to let a few facts get in the way of a feel good story.

• Ford month-end inventory 86-day supply at end of Jan. (492k vehicles) vs 60-day supply (466k) as of Dec. 31
• Chrysler had 83-day supply (349k units) end of Jan. vs 64-day (326k units) as of Dec. 31
• GM month-end inventory 89-day supply (619k units) vs 67-day supply (583k) Dec. 31

The facts prove the issuance of billions in easy credit is creating the illusion of recovery. Non- revolving (auto & student loans) consumer credit outstanding is now at an all-time high of $1.7 trillion. Even with billions in bad debt write-offs since 2009 the amount outstanding has risen by $100 billion. Does this sound like austerity is gripping the nation? The Federal government is dishing out student loans like candy, as hundreds of thousands of students get worthless degrees from for-profit diploma mills like the University of Phoenix and its ilk. By keeping them occupied in school, the government is able to keep them in the Not in the Labor Force category. Not to be outdone, our friends at GE Capital, Wells Fargo and the other too big to fail entities have been doing their part on the revolving credit side of the scam. I’ve recently been seeing an ad by the largest U.S. furniture retailer, Ashley Furniture, offering 0% interest with no payments for 7 years. I don’t know about you, but my kids destroy a couch in less than 7 years. Wells Fargo Credit doesn’t seem too worried. A critical thinker might ask, how can Wells Fargo possibly make money offering these terms? But there is the rub. Ben Bernanke is loaning Wells Fargo money at 0% so they can perpetuate the confidence game. These insane bankers truly believe they can kick start this moribund debt saturated economy by issuing billions more in debt to people incapable of repaying them. Einstein would be amused.

The McKinsey Group put out a report a couple weeks ago analyzing the amount of American household debt and optimistically concluding that it could be back on a sustainable path by 2013. Mike Shedlock pointed out that sustainable is in the eye of the beholder. It seems the bright fellows at McKinsey haven’t grasped the concept of regression to the mean. First of all their analysis is flawed because real disposable personal income is actually declining and Ben Bernanke’s master scam is working and Americans are now adding to their household debt. The little blue line has turned upwards since they gathered their data. Secondly, as Mish so accurately points out, the sustainable level of household debt is really at the levels prior to the debt bubble that began in the early 1980s. That is a debt level of approximately 70% of disposable personal income, as opposed to the current level of 110%.

The implications of household debt levels regressing to their long-term mean would be catastrophic to the 1%. Their kingdom of debt would come crashing down. Their power and wealth would be swept away. This is why it is so vital for them to create the illusion of recovery. Their confidence game is built upon an ever increasing flow of credit expansion. It will not work. There is no avoiding the final collapse of a boom created solely by credit expansion. Those in power will never voluntarily relinquish their grand game of pillaging the wealth of the nation, so economic collapse will be the ultimate result. They will continue to use propaganda, printing presses, and half-truths to further their agenda. But those who examine the facts will come to a logical conclusion that we are being sold a great lie.

“Half the truth is often a great lie.” – Benjamin Franklin

http://www.zerohedge.com/news/guest-post-illusion-recovery-feelings-versus-facts

Revolt of the Spooks

Revolt of the Spooks

Intelligence officials angered by Obama administration cover up of intelligence on Iranian, al Qaeda surge in Egypt and Libya

 

The White House / AP Images

     

BY: Bill Gertz
October 5, 2012 5:00 am

Weeks before the presidential election, President Barack Obama’s administration faces mounting opposition from within the ranks of U.S. intelligence agencies over what careerofficers say is a “cover up” of intelligence information about terrorism in North Africa.

Intelligence held back from senior officials and the public includes numerous classified reports revealing clear Iranian support for jihadists throughout the tumultuous North Africa and Middle East region, as well as notably widespread al Qaeda penetration into Egypt and Libya in the months before the deadly Sept. 11 terrorist attack on the U.S. consulate in Benghazi.

“The Iranian strategy is two-fold: upping the ante for the Obama administration’s economic sanctions against Iran and perceived cyber operations against Iran’s nuclear weapons program by conducting terror attacks on soft U.S. targets and cyber attacks against U.S. financial interests,” said one official, speaking confidentially.

The Iranian effort also seeks to take the international community’s spotlight off Iran’s support for its Syrian ally.

Two House Republicans, Reps. Darrell Issa (R., Calif.) and Jason Chaffetz (R., Utah), stated in a letter sent this week to Secretary of State Hillary Clinton that officials “with direct knowledge of events in Libya” revealed that the Benghazi attack was part of a string of terror attacks and not a spontaneous uprising against an anti-Muslim video produced in the U.S. The lawmakers have scheduled congressional hearings for Oct. 10.

Susan Phalen, spokeswoman for the House Permanent Select Committee on Intelligence Chairman Rep. Mike Rogers (R., Mich.), said the panel is “reviewing all relevant intelligence and the actions of the [intelligence community], as would be expected of the oversight committee.”

But she noted: “At this point in time it does not appear that there was an intelligence failure.”

Intelligence officials pointed to the statement issued Sept. 28 by the Office of the Director of National Intelligence (ODNI) that raised additional concern about the administration’s apparent mishandling of intelligence. The ODNI statement said that “in the immediate aftermath, there was information that led us to assess that the attack began spontaneously following protests earlier that day at our embassy in Cairo.”

Officials say the ODNI’s false information was either knowingly disseminated or was directed to be put out by senior policy officials for political reasons, since the statement was contradicted by numerous intelligence reports at the time of the attack indicating it was al Qaeda-related terrorism.

Among the obvious signs of terrorism was the arms used by the attackers, who were equipped with rocket-propelled grenades and assault rifles.

A U.S. intelligence official who disputes the idea of an Obama administration coverup said: “Intelligence professionals follow the information wherever it leads.”

“When there isn’t definitive information, it makes sense to be cautious,” the official said. “There has never been a dogmatic approach to analyzing what happened in Benghazi. Staying open to alternative explanations—and continually refining assessments as new and credible information surfaces—is part of the intelligence business.”

Officials with access to intelligence reports, based on both technical spying and human agents, said specific reporting revealed an alarming surge in clandestine al Qaeda activity months before the attack in Benghazi.

Yet the Obama administration sought to keep the information from becoming public to avoid exposing what the officials say is a Middle East policy failure by Obama.

Officials said that the administration appeared to engage in a disinformation campaign aimed at distancing the president personally during the peak of the presidential election campaign from the disaster in Benghazi, where numerous warning of an attack were ignored, resulting in the deaths of U.S. Ambassador to Libya Christopher Stevens and three other officials.

The first part of the apparent campaign, officials said, was the false information provided to U.S. Ambassador to the United Nations Susan Rice, who appeared on Sunday television shows after the attack to say the event was a “spontaneous” response to an anti-Muslim video trailer posted online.

Officials said Rice was given the false information to use in media appearances in order to promote the excuse that the obscure video was the cause of the attack, and not the Islamic concept of jihad.

Rice’s claims provoked concern inside the U.S. intelligence community that intelligence about what was going on in Libya and the region was being suppressed, and led to a series of news disclosures about what would later be confirmed as an al Qaeda attack using the group Ansar al Sharia.

After Rice’s incorrect statements, White House Press Secretary Jay Carney repeated the false assessment of the Benghazi attack.

The final element of the campaign involved comments by Secretary of State Hillary Clinton, who was the first to give a partial explanation of the intelligence when she said al Qaeda terrorists operating from Mali were possible culprits in the Benghazi attack.

“What she failed to mention was the cooperation of Iran and Egypt in supporting jihadists in Libya,” the official said, who added the events would be investigated in an apparent effort to stave off internal critics in government.

That has led to delays in getting FBI and other U.S. investigators into Benghazi, raising concerns that some in the White House wanted to delay the FBI’s efforts to uncover evidence about the attack.

The FBI did not reach Benghazi until Thursday, ostensibly over concerns about the lack of security to protect them.

“The Obama Administration is afraid to admit al Qaeda is running rampant throughout the region because it would expose the truth instead of what President Obama so pompously spouted during the Democratic Convention” said the official.

The president said during his nomination acceptance speech that “al Qaeda is on the path to defeat,” an assertion contradicted by the group’s rise in the region.

The administration, in particular, wants to keep hidden solid intelligence showing that the terrorist group behind the Sept. 11, 2001, attacks that killed nearly 3,000 Americans is now flourishing under the Muslim Brotherhood regime of Egyptian President Mohamed Morsi.

Egypt was among the locations of Obama’s 2009 so-called “apology” tour, when the president criticized past U.S. policies based on what he said was “fear and anger” that prompted actions “contrary to our ideals.” He also promised “a new beginning” for the U.S. and the world’s Muslims and a radical shift in U.S. policy.

The rise of Islamists in the region instead has produced a surge in anti-American protests and riots, culminating in the terrorist attack on the Benghazi consulate.

Recent intelligence reports show that Egypt’s Al-Azhar University in Cairo is emerging as a covert base for al Qaeda organizational and training activities for a jihadi network consisting of many nationalities.

The Morsi government has turned a blind eye to both the increased jihadist activity and Iran’s support for it in the region, particularly in Libya and Syria.

However, the administration is keeping the intelligence under wraps to avoid highlighting Obama’s culpability for the democratic aspirations of the Arab Spring being hijacked by Islamists sympathetic to al Qaeda’s terrorist ideology.

Intelligence officials said in Egypt—currently ruled by the Islamist Muslim Brotherhood—one of the key al Qaeda organizers has been identified as Muhammad al-Zawahiri, brother of al Qaeda leader Ayman al-Zawahiri. Muhammad al-Zawahiri was released by Morsi in March after having been sentenced to death for terrorist acts in Egypt.

In recent months Egypt-based al Qaeda terrorists were dispatched to Libya and Syria, where they have been covertly infiltrating Libyan militia groups and Syrian opposition forces opposing the Bashar al Assad regime.

In addition to Egyptian government backing, intelligence from the region has revealed that operatives from Iran’s Ministry of Intelligence and Security, the main spy service, and from Iran’s Quds Force paramilitary group and the Islamic Revolutionary Guards Corps are also facilitating al Qaeda terrorists based in Egypt that are preparing to conduct operations to increase instability throughout the region.

The intelligence revealing that al Qaeda is growing in Egypt is said by officials to be one of the reasons behind Obama’s decision to cancel a meeting in New York with Morsi during the U.N. General Assembly meeting last month.

Other news outlets in recent days have revealed new internal U.S. government information that contrasts sharply or contradicts official Obama administration statements that appear designed to minimize the rise of Egyptian-origin terrorism.

The Daily Beast reported Sept. 28 that intercepted communications revealed terrorists belonging to the group Ansar al Sharia were in contact with the group Al Qaeda in the Islamic Maghreb regarding the attack that killed Ambassador Chris Stevens and others.

Communications intercepts revealed that the terrorists in Benghazi bragged about the attack, the news outlet reported.

A group called Ansar al Sharia in Egypt was formed in April 2011 and advocates violent jihad and support for al Qaeda.

The Wall Street Journal reported on Monday that terrorists linked to a former Guantanamo prison inmate, Muhammad Jamal Abu Ahmad, was one of the individuals who attacked diplomatic facilities in Libya on Sept. 11, and that intelligence reports showed some of the terrorists in the attack may have been trained in Libyan desert camps.

http://freebeacon.com/revolt-of-the-spooks/

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