It is Still the Derivatives, Stupid The IMF vs Deutsche Bank

Tom Heneghan explosive intelligence briefings ALL patriot Americans MUST know, with sources inside American/European intelligence agencies and INTERPOL, reporting what is really going on behind the scenes of the corporate-controlled, fascist, extortion-friendly propaganda U.S. media's massive deceptions

Sunday January 27, 2013

It is Still the Derivatives, Stupid
The IMF vs Deutsche Bank

by Tom Heneghan

International Intelligence Expert

UNITED States of America - It can now be reported that IMF Managing Director Christine Lagarde engaged in a major verbal confrontation with German Deutsche Bank CEO Jürgen Fitschen last Friday on 1/25/13.
 The verbal explosion erupted when Lagarde confronted Fitschen with evidence that the German Deutsche Bank, Ally Bank (Ally Financial Group) and Bank of America are involved in a major money laundry using the Cayman Islands as headquarters.

The evidence fingers Deutsche Bank, Ally Financial Group and Bank of America for violating major anti money laundry provisions of the Basel II European Union financial treaty that was passed to further prevent derivative exposure of major European financial institutions.

Instead of following the provisions of the treaty, we can now divulge that Deutsche Bank and Bank of America have been using secret offshore accounts linked to the Ally Financial Group to write more illegal cross-collateralized derivatives that has created major currency imbalances in the nightly traded world FOREX currency exchange.

Note: Ally Financial Group is actually a holding company for Ally Bank and the holding company is then used to disguise the derivative trading.

Christine Lagarde and the entire IMF (International Monetary Fund) are specifically concerned about the irregular spread (cross rates) between the Australian dollar and the Japanese yen and the role of both the Central Bank of Japan and the Central Bank of Australia in using these illegal Deutsche Bank derivatives as collateral to manipulate the global currency market as well as the exchange rate on their own currencies.

Translation: The IMF believes Deutsche Bank, Ally financial Group, Bank of America, the Central Bank of Japan and the Central Bank of Australia are involved in a worldwide ponzi scheme using artificial marked up cross-collateralized derivatives (there is no cash involved whatsoever) to prop up world equity markets while manipulating global commodity and currency markets.

WARNING TO ALL WORLDWIDE INVESTORS: We now have a Deutsche Bank bubble that will eventually collapse the world financial markets.

P.S. The alleged 3.9 billion euro bail out given to Banca Monte Dei Paschi Di Vienna by the Central Bank of Italy involved no real cash. It involved, you guessed it, more Cayman Island Deutsche Bank derivatives.

P.P.S. LATE BREAKING REPORT

IMF Managing Director Christine Lagarde
warns German Chancelor Angela Merkel

IMF Managing Director Christine Lagarde just two hours ago phoned German Chancellor Angela Merkel and told her directly, and I quote "the IMF will decapitate the Nazi Skull and Bones German Deutsche Bank unless the Deutsche Bank stops misusing Wanta-Reagan-Mitterrand Protocol funds in their latest Cayman Islands ponzi scheme".

Reference: The IMF has already frozen over 50% of Deutsche Bank proprietary accounts.

Lagarde also told Merkel that the bilateral tax agreement between the IMF, Austrian banks and the U.S. Treasury is imminent.

Reference: The bilateral tax agreement just mentioned are the final implementation of the Wanta-Reagan-Mitterrand Protocols.

Merkel with Bush Crime Family
(L)JOHN MACDOUGALL/AFP/Getty
(r) Steffen Kugler/Getty Images Europe

Lagarde finished the conversation with Merkel (a Bush Crime Family stooge) and told her bluntly to stand down.

In closing, (laugh out loud) a question should be asked: Can MFGlobal avoid bankruptcy if it agrees to pay its alleged counter party JPMorgan chase $22 billion worth of Deutsche Bank derivatives. Stay tuned for future intelligence briefings in which we will finger discount trading whorehouse like AmeriTrade, ScottTrade and ETrade who are currently in violation of the anti money laundry provisions of the CFTC, the NFA and the SEC.

The question is: Like in the PFG case, who is on the take?

Word is out that as many as 30% of the accounts opened at these discount houses don't even have proper social security numbers.

Remember, these discount houses are backed by the banks and are complicit in a great deal of crooked activities.

http://www.myspace.com/tom_heneghan_intel/blog/546672952

Poofness 1/27-13 Fly Like A Bird

Subject: Fly Like A Bird
Date: Sun, 27 Jan 2013 15:42:12 -0500

http://www.youtube.com/watch?NR=1&feature=endscreen&v=6OKfHS0Hoxw

Greetings and Salutations;

The gears on the world change over are engaging. You will hear with your own ears, very shortly. There was a 'come to jesus' meeting at the white house a couple of weeks ago that laid down the gauntlet on us politicians. Nothing like being told, 'we are about to move ahead and cast the us adrift to fend for itself'. In other words, the world needs it's stuff and weren't putting up with the us egos holding everything up. Every damn doc has been signed and left no reason to hold back from flipping this world on it's head. Some have set themselves up to be sent to undisclosed locations, oh well, not like they weren't warned. If you're looking for the sense of that, just remember, some folks don't believe fat meat's greasy. Which means 'reason' is beyond their capacity, like a mule with blinders, side vision is not real strong with them, need a club to get their attention.

There is no military might that can stop an idea whose time has come. So mister cheney can forget the military industrial complex stopping the people of the dragons from exercising their power for using their jewels to make a balanced world. Aren't the words, 'they who have the gold, rule?'. If you had no intent to pay back what you borrowed, should've never borrowed from them. They never were stupid about money and 'worth'...but left brain logic, doesn't work completely, with people who use their right brains for more than drawing pictures. Actually the folks in the himalayas teach a technique to assist in the process of merging the right and left hemispheres of the brain and, their functions. Making it possible for a human to be single brained. Draw back...'normal' people may think you're weird because you can walk and chew gum at the same time. lololol...and pat your belly.

As I said wait your turn, there have been alterations, thru the years for one reason or another. Who cares the world is changing any way and with the freedom being given to the former 'serfs', the panoramic view will shift very quickly. You know what needs fixing out here..set about when you're given the chance, your back is being watched. The matrix serves more than getting bankers in pocket! So, off you go, and make a difference. No more freddy flintstone time for the jetsons'. Play nice and leave the grumble monkeys behind, smile at them when they say...it's all Bs...dust your feet off and walk on. We are Not going to hell in a hand basket, after all.

Consultations available until the knock on the door.

Love and Kisses, Poofness 

Born 1930 -1979

Born 1930 -1979

Those of You Born 1930 - 1979 At the end of this Email is a quote of the month by Jay Leno.. If you don't read anything else, PleaseRead what he Said. Very well stated, Mr. Leno. TO ALL THE KIDS WHO SURVIVED THE 1930's, 40's, 50's, 60's and 70's! First, we survived being born to mothers Who smoked and/or drank while they were Pregnant. They took aspirin, ate blue cheese dressing, Tuna from a can and didn't get tested for diabetes. Then after that trauma, we were put to sleep on our tummies in baby cribs covered with bright colored lead-base paints. We had no childproof lids on medicine bottles, Locks on doors or cabinets and when we rode Our bikes, we had baseball caps not helmets on our heads. As infants & children, We would ride in cars with no car seats, No booster seats, no seat belts, no air bags, bald tires and sometimes no brakes. Riding in the back of a pick-up truck on a warm day Was always a special treat. We drank water >From the garden hose and not from a bottle. We shared one soft drink with four friends, >From one bottle and no one actually died from this. We ate cupcakes, white bread, real butter and bacon.. We drank Kool-Aid made with real white sugar. And, we weren't overweight. WHY? Because we were Always outside playing...that's why! We would leave home in the morning and play all day, As long as we were back when the Streetlights came on. No one was able To reach us all day. And, we were O.K. We would spend hours building our go-carts out of scraps And then ride them down the hill, only to find out We forgot the brakes. After running into the bushes a few times, we learned to solve the problem. We did not have Playstations, Nintendo's and X-boxes. There were no video games, no 150 channels on cable, No video movies or DVD's, no surround-sound or CD's, No cell phones, No personal computers, no Internet and no chat rooms. WE HAD FRIENDS And we went outside and found them! We fell out of trees, got cut, broke bones and teeth And there were no lawsuits from these accidents. We ate worms and mud pies made from dirt, And the worms did not live in us Forever. We were given BB guns for our 10th birthdays, Made up games with sticks and tennis balls and, Although we were told it would happen, We did not put out very many eyes. We rode bikes or walked to a friend's house and Knocked on the door or rang the bell, or just Walked in and talked to them. Little League had tryouts and not everyone made the team. Those who didn't had to learn to deal With disappointment. Imagine that!! The idea of a parent bailing us out if we broke the law Was unheard of. They actually sided with the law! These generations have produced some of the best Risk-takers, problem solvers and inventors ever. The past 50 years Have been an explosion of innovation and new ideas. We had freedom, failure, success and responsibility, and we learned how to deal with it all. If YOU are one of them? CONGRATULATIONS! You might want to share this with others who have had the luck to grow up as kids, before the lawyers and the government regulated so much of our lives for our own good . While you are at it, forward it to your kids so they will know how brave and lucky their parents were. Kind of makes you want to run through the house with scissors, doesn't it ? The quote of the month is by Jay Leno: "With hurricanes, tornados, fires out of control, mud slides, flooding, severe thunderstorms tearing up the country from one end to another, and with the threat of swine flu and terrorist attacks. Are we sure this is a good time to take God out of the Pledge of Allegiance?' IN GOD WE TRUST

Top Secret Banker's Manual - For Bankers Only!

CGI's oldBuck: Top Secret Banker's Manual - For Bankers Only!

Posted By: Susoni [Send E-Mail]
Date: Sunday, 27-Jan-2013 14:08:29

You can make the book-page 'LARGER' by pressing the crtl button and the + button at the same time (on your keyboard) To make smaller press crtl - (minus)... Alternately you may enlarge the text by pressing the magnifying glass symbol on the book. ************************ Vol 3 - Top Secret Banker's Manual by rodclassteam http://www.scribd.com/doc/53485521/Vol-3-Top-Secret-Banker-s-Manual http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267703

PALIN: 'WE HAVEN'T YET BEGUN TO FIGHT!'

PALIN: 'WE HAVEN'T YET BEGUN TO FIGHT!'—EXCLUSIVE INTERVIEW WITH BREITBART NEWS

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by STEPHEN K. BANNON 26 Jan 2013 2133POST A COMMENT

In my research for the film I made on Governor Palin, The Undefeated, I was constantly amazed at the anti-establishment stands she took at every step in her rise to power. Moves that a conventional politician would run from, she embraced: in Wasilla, in Juneau, and in the rise of the Tea Party. Her ability to see “over the hill” to what is really important, what really matters, is what sets her apart.

Andrew Breitbart embraced the Governor as a fellow warrior in the long struggle against a detached and venal political/media complex. He lives on in spirit and through the work of those he inspired—including, but not limited to, those who report and contribute at his site.

The Governor has been at the forefront of the fight against the Permanent Political Classand, as such, inspired Peter Schweizer and myself in our work last night on Fox News with Sean Hannity’s special “Boomtown.” We consider ourselves honored at Breitbart News to have her share with us her thoughts on the road ahead in this exclusive Q & A.

1. What's next for you?

Short term: I encourage others to step out in faith, jump out of the comfort zone, and broaden our reach as believers in American exceptionalism. That means broadening our audience. I’m taking my own advice here as I free up opportunities to share more broadly the message of the beauty of freedom and the imperative of defending our republic and restoring this most exceptional nation. We can't just preach to the choir; the message of liberty and true hope must be understood by a larger audience. 

Focus on the 2014 election is also imperative. It’s going to be like 2010, but this time around we need to shake up the GOP machine that tries to orchestrate away too much of the will of constitutional conservatives who don’t give a hoot how they do it in DC. DC is out of touch, obviously. Voices on the right like Mark Levin, Rush, and the writers here at Breitbart have come out strongly against the “go along to get along” politicians who wave the white flag before the battle even begins. We’re not going to be able to advance the cause of limited constitutional government unless we deal with these big government enablers on our side. And this all ties into the problem of crony capitalism and the permanent political class in the Beltway. We need to consistently take them on election after election – ever vigilant.

As far as long-term plans, the door is wide open. I know the country needs more truth-telling in the media, and I’m willing to do that. So, we shall see. And always in the center of it all I have an awesome, full, exciting, and large family living in a very unique part of America that keeps me hopping! I love it!

2. Where do you think the country stands at the beginning of the President's 2nd term?

Before the November election I wrote that we all know what Obama’s second term will look like because we’ve seen his first. I said: “We know what we will get from a second Obama term. We will get the same failed policies. We will get Obamacare locked into law. We will get a debt crisis. We will get more inflation and higher gas prices. We will get tax increases. We will get fewer jobs. We will get more small businesses collapsing under the weight of higher taxes and unfair regulation. We will get more corruption and crony capitalism favoring the Obama administration’s friends. We will get less domestic energy development and increased dependence on terrorist sponsoring foreign regimes for our energy needs. We will get a 'blame America first' foreign policy that bows to our enemies and snubs our friends like Israel and leaves America and the world less safe. We will get less opportunity and security for ourselves and for our children.”

Predicting the future has never been easier because here we are! Already we see higher taxes, a stagnant economy, the same inflationary monetary policies, Obamacare looming like a dark cloud over small businesses, yet another demand for “debt ceiling” increases, continued stonewalling about the tragic Benghazi attacks, a Secretary of Defense nominee who has a history of being antagonistic to our ally Israel, and the attack on our Second Amendment rights by an administration that has no respect for the Constitution or the separation of powers. 

The problem is that some on the Right are now skittish because of the lost 2012 election. They shouldn’t be. Conservatism didn’t lose. A moderate Republican candidate lost after he was perceived to alienate working class Reagan Democrat and Independent voters who didn’t turn out for him as much as they did for the McCain/Palin ticket in 2008. Granted, those same voters also didn’t turn out for Obama as strongly either. We had an election defined by a biased media plus millions of voters who sat it out in disgust. As long as we allow the media and GOP establishment to tell us who our nominees must be, we can expect to lose. I’m not interested in losing. America’s next generation can’t afford another loss.  

3.  The MSM have declared both you and the Tea Party dead and buried. Reaction?

I was raised to never retreat and to pick battles wisely, and all in due season. When it comes to defending our republic, we haven’t begun to fight! But we delight in those who underestimate us. 

http://www.breitbart.com/Big-Government/2013/01/26/Palin-We-Havent-Yet-Begun-to-Fight-Exclusive-Interview-with-Breitbart-News

Stew Webb - Bush Crime Syndicate, Aliens, Area 51, Secret Space Program

The Rumor Mill News Reading Room 

Video: Stew Webb - Bush Crime Syndicate, Aliens, Area 51, Secret Space Program

Posted By: Lion [Send E-Mail]
Date: Sunday, 27-Jan-2013 10:06:15

--------------- FW: Jan. 26, 2013 In this great interview with Stew Webb we discuss the Bush Crime Syndicate, aliens, Area 51, the new drones set to deploy in 2013 that can turn a person to dust, and many other topics. Please share this video everywhere you can and if you aren't handing out cards to wake others up, please go to this page and get our cards that give out the cures to cancer, free energy and much more! They've tried to kill Stew Webb 7 times already so if you aren't willing to simply hand out cards to strangers or even leave them around for others to find them then you as JFK says you'll get the country you deserve! Get INVOLVED NOW! Here's the page where you can get the files for our cards that you can print out or use on Vistaprint.com to print out very cheaply! I gave out 500 cards in one week just by hitting up convenience stores that let you put business cards on the front counters, post offices, restaurants. Just as in 1776, this war against the satanic new world order will NOT be won on facebook or online it will be by reaching REAL people offline with business cards that cost a penny or two apiece! God bless Stew Webb - Bush Crime Syndicate, Aliens, Area 51, Secret Space Program http://youtu.be/0k4IbqyBWyc http://www.youtube.com/watch?NR=1&v=0k4IbqyBWyc&feature=endscreen ---------------- Stew Webb's Bio Christian, Home Builder turned Informant, Stew Webb married in 1981 Kerre S. Millman "The Bush Crime Family" bankers daughter, threw payoffs and bribes to Judges in order to terminate Stewart Webb's parental rights (1984)with his daughter Amanda Webb, (aka Amanda Millman dob 7-14-84) Stew turned Whisblower to the FBI (1986) and found himself being turned on immediately by the power of his unknown, CIA/Bush Crime Family Banker, CFR Director, Knights Templar, Republican/Scamster, and former father in law Leonard Millman. Since 1984-todate, he has been arrested falsely over 30 times, held one-time 10 1/2 month period as a political prisoner. Subsequently all charges have been dismissed with perjury or hung juries. And he has had seven attempts upon his life.

What is that flying so low over Sandy Hook Elementary - video

What is that flying so low over Sandy Hook Elementary - video

Posted By: glasc [Send E-Mail]
Date: Saturday, 26-Jan-2013 16:24:32

Sandy Hook : Drone/Cessna/Remote Control ? Flying low over Sandy Hook School uploaded by DAHBOO7 http://www.youtube.com/watch?v=GYvw6dL-1fo Anybody have any thoughts on what that is? http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267636

Arizona Bills Require Public School Students To Recite Loyalty Oath to Constitution

Arizona Bills Require Public School Students To Recite Loyalty Oath to Constitution

Posted By: RumorMail [Send E-Mail]
Date: Saturday, 26-Jan-2013 14:41:44

Public high school students in Arizona will have to “recite an oath supporting the U.S. Constitution” to receive a graduation diploma, if a new bill introduced in the new session of the state legislature is passed and signed into law. The measure, House Bill 2467, was offered by Rep. Bob Thorpe (R), a freshman tea party members who also backs a bill preventing state enforcement of federally enacted gun safety laws. Here is the text of HB 2467: http://thinkprogress.org/justice/2013/01/26/1500011/arizona-bills-require-public-school-students-to-recite-loyalty-oaths/?mobile=nc As written, the bill does not exempt atheist students or those of different faiths from the requirement, though Thorpe has pledged to amend the measure. “In that we had a tight deadline for dropping our bills, I was not able to update the language,” he wrote in an e-mail to the Arizona Republic. “Even though I want to encourage all of our students to understand and respect our Constitution and constitutional form of government, I do not want to create a requirement that students or parents may feel uncomfortable with.” A separate measure introduced by Thorpe’s colleague would also “require all students in first through 12th grades” “to say the pledge of allegiance each day.” Currently, “schools must set aside time for the pledge each day, but students may choose whether to participate.” Constitutional experts warn that both proposals are unconstitutional. As American Civil Liberties Union of Arizona Public Policy Director Anjali Abraham explained, “You can’t require students to attend school … and then require them to either pledge allegiance to the flag or swear this loyalty oath in order to graduate. It’s a violation of the First Amendment.” http://thinkprogress.org/justice/2013/01/26/1500011/arizona-bills-require-public-school-students-to-recite-loyalty-oaths/?mobile=nc http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267626

Sandy Hook - The FULL details exposed

Sandy Hook - The FULL details exposed

Posted By: RumorMail [Send E-Mail]
Date: Saturday, 26-Jan-2013 13:11:25

From a Long time reader. http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267617

REPORT: WASHINGTON DIDN’T EVEN TELL MARINE GEN. HE WAS BEING REPLACED

REPORT: WASHINGTON DIDN’T EVEN TELL MARINE GEN. HE WAS BEING REPLACED

Posted By: NotRob
Date: Sunday, 27-Jan-2013 01:37:31

United States Marine Corps Gen. James “Mad Dog” Mattis was notified that he was being replaced as commander of U.S. Central Command not by a phone call from Washington, but by a note passed to him by an aide, according to Foreign Policy’s Thomas E. Ricks. From Ricks’ report: … General Mattis was travelling and in a meeting when an aide passed him a note telling him that the Pentagon had announced his replacement as head of Central Command. It was news to him — he hadn’t received a phone call or a heads-up from anyone at the Pentagon or the White House. http://www.theblaze.com/stories/2013/01/25/report-washington-didnt-even-tell-marine-gen-he-was-being-replaced/   http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267675

Hmmm....Anti-Gun Senator Shoots Intruder

Hmmm....Anti-Gun Senator Shoots Intruder

Posted By: Lion [Send E-Mail]
Date: Saturday, 26-Jan-2013 07:25:54

--------------- State Senator R.C. Soles (D - NC) Long time Anti-Gun Advocate State Senator R.C. Soles, 74, shot one of two intruders at his home just outside Tabor City , N.C. about 5 p.m. Sunday, the prosecutor for the politician's home county said. The intruder, Kyle Blackburn, was taken to a South Carolina hospital, but the injuries were not reported to be life-threatening, according to Rex Gore, district attorney for Columbus, Bladen and Brunswick counties. The State Bureau of Investigation and Columbus County Sheriff's Department are investigating the shooting, Gore said. Soles, who was not arrested, declined to discuss the incident Sunday evening. "I am not in a position to talk to you," Soles said by telephone. "I'm right in the middle of an investigation." The Senator, who has made a career of being against gun ownership for the general public, didn't hesitate to defend himself with his own gun when he believed he was in immediate danger and he was the victim. In typical hypocritical liberal fashion, the "Do as I say and not as I do" Anti-Gun Activist Lawmaker picked up his gun and took action in what apparently was a self-defense shooting. Why hypocritical you may ask? It is because his long legislative record shows that the actions that he took to protect his family, his own response to a dangerous life threatening situation, are actions that he feels ordinary citizens should not have if they were faced with an identical situation. It has prompted some to ask if the Senator believes his life and personal safety is more valuable than yours or mine. But, this is to be expected from those who believe they can run our lives, raise our kids, and protect our families better than we can. http://tpo.net/anti_gun_senator/#.UN3H85BNWYg.facebook http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267596

Hypocrisy is a trademark of communists

RD Writes: " Hypocrisy is a trademark of communists."

Posted By: Lion [Send E-Mail]
Date: Saturday, 26-Jan-2013 20:19:25

In Response To: Hmmm....Anti-Gun Senator Shoots Intruder (Lion)

---------------- Thaks, RD Re: Hmmm....Anti-Gun Senator Shoots Intruder 'Do as I say, not as I do'. Hypocrisy is a trademark of communists. I wonder if the sheep will EVER wake up. All these commies should have been locked up (or worse) decades ago but we let them proliferate to the point of what we are seeing today. Time is short, I sure hope folks wake up before they find themselves in the camps. That day is quickly approaching and I see NO arrests of those responsible. NOT good. RD --------------- : State Senator R.C. Soles (D - NC) : Long time Anti-Gun Advocate State Senator R.C. Soles, 74, shot : one of two intruders at his home just outside Tabor City , : N.C. about 5 p.m. Sunday, the prosecutor for the : politician's home county said. : The intruder, Kyle Blackburn, was taken to a South Carolina : hospital, but the injuries were not reported to be : life-threatening, according to Rex Gore, district attorney : for Columbus, Bladen and Brunswick counties. : The State Bureau of Investigation and Columbus County : Sheriff's Department are investigating the shooting, Gore : said. Soles, who was not arrested, declined to discuss the : incident Sunday evening. : "I am not in a position to talk to you," Soles said : by telephone. : "I'm right in the middle of an investigation." : The Senator, who has made a career of being against gun : ownership for the general public, didn't hesitate to defend : himself with his own gun when he believed he was in : immediate danger and he was the victim. : In typical hypocritical liberal fashion, the : "Do as I say and not as I do" Anti-Gun Activist : Lawmaker picked up his gun and took action in what : apparently was a self-defense shooting. : Why hypocritical you may ask? : It is because his long legislative record shows that the : actions that he took to protect his family, his own : response to a dangerous life threatening situation, are : actions that he feels ordinary citizens should not have if : they were faced with an identical situation. : It has prompted some to ask if the Senator believes his life : and personal safety is more valuable than yours or mine. : But, this is to be expected from those who believe they can : run our lives, raise our kids, and protect our families : better than we can. : http://tpo.net/anti_gun_senator/#.UN3H85BNWYg.facebook http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267656

Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved

And thanks to his scam and the rest of the Bankers, millions of people have starved to death. !!!! And so far, it's still going without changing anything, and that includes Obama and his agenda to harm more of humanity.

Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved

Posted By: Lion [Send E-Mail]
Date: Saturday, 26-Jan-2013 06:46:01

------------- Thanks To Reader OB who sends: Re: Scam complete: goldman sachs ------------- Goldman Sachs Made $400 Million Betting On Food Prices In 2012 While Hundreds Of Millions Starved Michael Snyder Economic Collapse Jan 24, 2013 Why does it seem like wherever there is human suffering, some giant bank is making money off of it? According to a new report from the World Development Movement, Goldman Sachs made about 400 million dollarsbetting on food prices last year. Overall, 2012 was quite a banner year for Goldman Sachs. As I reported in a previous article, revenues for Goldman increased by about 30 percent in 2012 and the price of Goldman stock has risen by more than 40 percent over the past 12 months. It is estimated that the average banker at Goldman brought in a pay and bonus package of approximately $396,500 for 2012. So without a doubt, Goldman Sachs is swimming in money right now. But what is the price for all of this “success”? Many claim that the rampant speculation on food prices by the big banks has dramatically increased the global price of food and has caused the suffering of hundreds of millions of poor families around the planet to become much worse. At this point, global food prices are more than twice as high as they were back in 2003. Approximately 2 billion people on the planet spend at least half of their incomes on food, and close to a billion people regularly do not have enough food to eat. Is it moral for Goldman Sachs and other big banks such as Barclays and Morgan Stanley to make hundreds of millions of dollars betting on the price of food if that is going to drive up global food prices and make it harder for poor families all over the world to feed themselves? This is another reason why the derivatives bubble is so bad for the world economy. Goldman Sachs and other big banks are treating the global food supply as if it was some kind of a casino game. This kind of reckless activity was greatly condemned by the World Development Movement report… “Goldman Sachs is the global leader in a trade that is driving food prices up while nearly a billion people are hungry. The bank lobbied for the financial deregulation that made it possible to pour billions into the commodity derivative markets, created the necessary financial instruments, and is now raking in the profits. Speculation is fuelling volatility and food price spikes, hurting people who struggle to afford food across the world.” So shouldn’t there be a law against this kind of a thing? Well, in the United States there actually is, but the law has been blocked by the big Wall Street banks and their very highly paid lawyers. The following is another excerpt from the report… “The US has passed legislation to limit speculation, but the controls have not been implemented due to a legal challenge from Wall Street spearheaded by the International Swaps and Derivatives Association, of which Goldman Sachs is a leading member. Similar legislation is on the table at the EU, but the UK government has so far opposed effective controls. Goldman Sachs has lobbied against controls in both the US and the EU.” Posted below is a chart that shows what this kind of activity has done to commodity prices over the past couple of decades. You will notice that commodity prices were fairly stable in the 1990s, but since the year 2000 they have been extremely volatile… The reason for all of this volatility was explained in an excellent articleby Frederick Kaufman… The money tells the story. Since the bursting of the tech bubble in 2000, there has been a 50-fold increase in dollars invested in commodity index funds. To put the phenomenon in real terms: In 2003, the commodities futures market still totaled a sleepy $13 billion. But when the global financial crisis sent investors running scared in early 2008, and as dollars, pounds, and euros evaded investor confidence, commodities — including food — seemed like the last, best place for hedge, pension, and sovereign wealth funds to park their cash. “You had people who had no clue what commodities were all about suddenly buying commodities,” an analyst from the United States Department of Agriculture told me. In the first 55 days of 2008, speculators poured $55 billion into commodity markets, and by July, $318 billion was roiling the markets. Food inflation has remained steady since. The money flowed, and the bankers were ready with a sparkling new casino of food derivatives. Spearheaded by oil and gas prices (the dominant commodities of the index funds) the new investment products ignited the markets of all the other indexed commodities, which led to a problem familiar to those versed in the history of tulips, dot-coms, and cheap real estate: a food bubble. Hard red spring wheat, which usually trades in the $4 to $6 dollar range per 60-pound bushel, broke all previous records as the futures contract climbed into the teens and kept on going until it topped $25. And so, from 2005 to 2008, the worldwide price of food rose 80 percent –and has kept rising. Are you angry yet? You should be. Poor families all over the planet are suffering so that Wall Street bankers can make bigger profits. It’s disgusting. Many big financial institutions just seem to love to make money on the backs of the poor. I have previously reported on how JP Morgan makes billions of dollars issuing food stamp cards in the United States. When the number of Americans on food stamps goes up, so does the amount of money that JP Morgan makes. You can read much more about all of this right here: “Making Money On Poverty: JP Morgan Makes Bigger Profits When The Number Of Americans On Food Stamps Goes Up“. Sadly, the global food supply is getting tighter with each passing day, and things are looking rather ominous for the years ahead. According to the United Nations, global food reserves have reached their lowest level in nearly 40 years. Global food reserves have not been this low since 1974, but the population of the world has greatly increased since then. If 2013 is another year of drought and bad harvests, things could spiral out of control rather quickly… World grain reserves are so dangerously low that severe weather in the United States or other food-exporting countries could trigger a major hunger crisis next year, the United Nations has warned. Failing harvests in the US, Ukraine and other countries this year have eroded reserves to their lowest level since 1974. The US, which has experienced record heatwaves and droughts in 2012, now holds in reserve a historically low 6.5% of the maize that it expects to consume in the next year, says the UN. “We’ve not been producing as much as we are consuming. That is why stocks are being run down. Supplies are now very tight across the world and reserves are at a very low level, leaving no room for unexpected events next year,” said Abdolreza Abbassian, a senior economist with the UN Food and Agriculture Organisation (FAO). The world has barely been able to feed itself for some time now. In fact, we have consumed more food than we have produced for 6 of the last 11 years… Evan Fraser, author of Empires of Food and a geography lecturer at Guelph University in Ontario, Canada, says: “For six of the last 11 years the world has consumed more food than it has grown. We do not have any buffer and are running down reserves. Our stocks are very low and if we have a dry winter and a poor rice harvest we could see a major food crisis across the board.” “Even if things do not boil over this year, by next summer we’ll have used up this buffer and consumers in the poorer parts of the world will once again be exposed to the effects of anything that hurts production.” We desperately need a good growing season next summer, and all eyes are on the United States. The U.S. exports more food than anyone else does, and last summer the United States experienced the worst drought that it had seen in about 50 years. That drought left deep scars all over the country. The following is from a recent Rolling Stone article… In 2012, more than 9 million acres went up in flames in this country. Only dredging and some eleventh-hour rain kept the mighty Mississippi River from being shut down to navigation due to low water levels; continuing drought conditions make “long-term stabilization” of river levels unlikely in the near future. Several of the Great Lakes are soon expected to hit their lowest levels in history. In Nebraska last summer, a 100-mile stretch of the Platte River simply dried up. Drought led the USDA to declare federal disaster areas in 2,245 counties in 39 states last year, and the federal government will likely have to pay tens of billions for crop insurance and lost crops. As ranchers became increasingly desperate to feed their livestock, “hay rustling” and other agricultural crimes rose. Ranchers were hit particularly hard. Because they couldn’t feed their herds, many ranchers slaughtered a tremendous number of animals. As a result, the U.S. cattle herd is now sitting at a 60 year low. What do you think that is going to do to meat prices over the next few years? Meanwhile, the drought continues. According to the U.S. Drought Monitor, this is one of the worst winter droughts the U.S. has ever seen. At this point, more than 60 percent of the entire nation is currently experiencing drought. If things don’t turn around dramatically, 2013 could be an absolutely nightmarish year for crops in the United States. If 2013 does turn out to be another bad year, food prices would soar both in the U.S. and on the global level. The following is from a recent CNBC article… The severe drought that swept through much of the U.S. last year is continuing into 2013, threatening to cripple economic growth while forcing consumers to pay higher food prices. “The drought will have a significant impact on prices, especially beef, pork and chicken,” said Ernie Gross, an economic professor at Creighton University and who studies farming issues. So let us hope for the best, but let us also prepare for the worst. It looks like higher food prices are on the way, and millions of poor families all over the planet will be hard-pressed to feed their families. Meanwhile, Goldman Sachs will be laughing all the way to the bank. http://truth11.com/2013/01/24/goldman-sachs-made-400-million-betting-on-food-prices-in-2012-while-hundreds-of-millions-starved/ http://www.rumormillnews.com/cgi-bin/forum.cgi?read=267595