What is truth?

Archive for May, 2011

All US Gold Gone? Russia says IMF Chief Jailed for Discovery.

By: Sorcha Faal

According to a FSB secret report, Strauss-Kahn had become “increasingly concerned” earlier this month after the United States began “stalling” its pledged delivery to the IMF of 191.3 tons of gold agreed to under the Second Amendment of the Articles of Agreement signed by the Executive Board in April 1978 that were to be sold to fund what are called Special Drawing Rights (SDRs) as an alternative to what are called reserve currencies.

This FSB report further states that upon Strauss-Kahn raising his concerns with American government officials close to President Obama he was ‘contacted’ by ‘rogue elements’ within the Central Intelligence Agency (CIA) who provided him ‘firm evidence’ that all of the gold reported to be held by the US ‘was gone’.

Upon Strauss-Kahn receiving the CIA evidence, this report continues, he made immediate arrangements to leave the US for Paris, but when contacted by agents working for France’s General Directorate for External Security (DGSE) that American authorities were seeking his capture he fled to New York City’s JFK airport following these agents directive not to take his cell-phone because US police could track his exact location.

Once Strauss-Kahn was safely boarded on an Air France flight to Paris, however, this FSB report says he made a ‘fatal mistake’ by calling the hotel from a phone on the plane and asking them to forwarded the cell-phone he had been told to leave behind to his French residence, after which US agents were able to track and apprehend him.  

Within the past fortnight, this report continues, Strauss-Kahn reached out to his close friend and top Egyptian banker Mahmoud Abdel Salam Omar to retrieve from the US the evidence given to him by the CIA. Omar, however, and exactly like Strauss-Kahn before him, was charged yesterday by the US with a sex crime against a luxury hotel maid, a charge the FSB labels as ‘beyond belief’ due to Omar being 74-years-old and a devout Muslim.

In an astounding move puzzling many in Moscow, Putin after reading this secret FSB report today ordered posted to the Kremlin’s official website a defense of Strauss-Khan becoming the first world leader to state that the former IMF chief was a victim of a US conspiracy. Putin further stated, “It’s hard for me to evaluate the hidden political motives but I cannot believe that it looks the way it was initially introduced. It doesn’t sit right in my head.”

Interesting to note about all of these events is that one of the United States top Congressman, and 2012 Presidential candidate, Ron Paul [photo bottom left] has long stated his belief that the US government has lied about its gold reserves held at Fort Knox.  So concerned had Congressman Paul become about the US government and the Federal Reserve hiding the truth about American gold reserves he put forward a bill in late 2010 to force an audit of them, but which was subsequently defeated by Obama regime forces.  

When directly asked by reporters if he believed there was no gold in Fort Knox or the Federal Reserve, Congressman Paul gave the incredible reply, “I think it is a possibility.”

Also interesting to note is that barely 3 days after the arrest of Strauss-Kahn, Congressman Paul made a new call for the US to sell its gold reserves by stating, “Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak.”

Bizarre reports emanating from the US for years, however, suggest there is no gold to sell, and as we can read as posted in 2009 on the ViewZone.Com news site:

“In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanges between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holed are drilled into the gold bars and the metal is then analyzed.

Officials were shocked to learn that the bars were fake. They contained cores of tungsten with only a outer coating of real gold. What’s more, these gold bars, containing serial numbers for tracking, originated in the US and had been stored in Fort Knox for years. There were reportedly between 5,600 to 5,700 bars, weighing 400 oz. each, in the shipment!”

To the final fate of Strauss-Kahn it is not in our knowing, but new reports coming from the United States show his determination not to go down without a fight as he has hired what is described as a ‘crack team’ of former CIA spies, private investigators and media advisers to defend him.

To the practical effects on the global economy should it be proved that the US, indeed, has been lying about its gold reserves, Russia’s Central Bank yesterday ordered the interest rate raised from 0.25 to 3.5 percent and Putin ordered the export ban on wheat and grain crops lifted by July 1st in a move designed to fill the Motherlands coffers with money that normally would have flowed to the US.

The American peoples ability to know the truth of these things, and as always, has been shouted out by their propaganda media organs leaving them in danger of not being prepared for the horrific economic collapse of their nation now believed will much sooner than later.    


drugs, banks and the Crisis, Greek subs

Greek watch day 7

French Finance Minister Christine Lagarde (L) ...

Image via Wikipedia

By Namawinelake

The IMF and EU teams on the ground in Athensare expected to conclude their work by tomorrow, according to the Greek finance minister. “We are concluding the negotiations and I hope they will be finished … by Wednesday,” Finance Minister George Papaconstantinou told Antenna TV. It is still expected that it will be next Monday 6th June, 2011 that the troika give their verdict.
Nationally, protests continued inAthensand some cities on Monday, though on a smaller scale than Sunday’s. The protests take the form of gatherings often co-ordinated over social networking websites and there seems to be a jumble of issues publicized by protesters. Once the precise austerity measures and privatization proposals are placed before parliament in early June, you can expect protests to intensify.
On the EU national political front, central European minnow Slovakiaput its oar in when its prime minister Iveta Radicova yesterday called for Greek’s €327bn of debt to be restructured, and Belgium’s finance minister promptly shot the proposal down. An axis of hard-love is developing involving Germany-Finland-Holland, with national ministers all calling on Greece to get on with implementing the plan or risk not getting the next tranche – “if it does not, Holland, Germany and Finland will follow the IMF should it decide not to give more money to Greece” said the Dutch finance minister on Saturday last.
The ECB continues to ensure that no board or governing council member, past or present, remains silent on Greece– the current post-holders are all listed here and it is difficult to pick one out that has kept his or her own counsel in recent weeks. Outgoing ECB executive board member, the Austrian economist Gertrude Tumpel-Gugerell re-iterated what is emerging as the strong ECB view that there can be no deviation from the EU/IMF bailout and there can certainly be no restructuring or reprofiling. When asked whether or not the ECB might soften its approach towardsAthens, the firm reply from Ms Tumpel-Gugerell was “that is not the case”
You might be interested in Harvard professor of economics, Martin Feldstein’s contribution on the Greece crisis and suggests a “temporary leave of absence” for Greece from the euro, and interestingly he suggests the Maastricht Treaty allows such a move. He points out that Greece has the largest trade deficit in the EuroZone and that Greece suffers from chronic competitiveness problems. For those contemplating a permanent exit byGreece from the euro, it’s a novel proposal.
Some details today of the new austerity measures being considered by Greece. Schoolbooks will have to be returned by schoolchildren at the end of each year so that they can be used by the following year’s intake and this will save a portion of the €80m per annum that the Greek government spends in providing schoolbooks. Greece like Ireland has different VAT rates and there are proposals to move certain products from the low (13%) rate to the higher (23%) rate. This includes heating oil and natural gas. There’s to be a 1% solidarity levy applied to all public sector salaries and a similar levy in the private sector to be borne by employer and employee. There is now a proposal that any budget overspend by any government department would require that department to come back to parliament which would permit an over-spend only if the money could be found through savings in another government department; the proposal is aimed at the notoriously uncontrolled government departments to impose better financial control on overall government spending. The Opposition led by conservative, Antonis Samaras is not only opposed to tax rises, he wants corporation tax reduced from 24% to 15%. And he citedIreland as evidence of the benefits of low taxation. I wonder what our French friends might make of that proposal



“You might be interested in Harvard professor of economics, Martin Feldstein’s contribution on the Greece crisis and suggests a “temporary leave of absence” for Greece from the euro, and interestingly he suggests the Maastricht Treaty allows such a move. He points out that Greece has the largest trade deficit in the EuroZone and that Greece suffers from chronic competitiveness problems. For those contemplating a permanent exit byGreece from the euro, it’s a novel proposal”.

I highlighted this very idea of a temporary exit from the euro last week as a possible scenario the cash strapped Irish government might avail of. While at the same time they would reintroduce the Irish Punt and then promptly devalue it by say 35% to 45%.This would be done as a way to kick start an economic surge that would bring into Ireland companies that would be attracted by the cheap costs such devaluation would bring. The down side would perhaps be the government would slap on draconian policies that would restrict the flow of domestic deposits from leaving the country.    

“You will be assimilated resistance is futile”

Has anybody noticed that every time bad news comes out regarding new charges or taxes, we get the same old spin from the reverent Minster that it is in the program for government and it was agreed with the EU/IMF agreement? So it was this afternoon when Phil Hogan decided to come on the radio and tell the people of Ireland we are going to have to pay for our water. So to recap the EU and the IMF are now dictating domestic policy. What Taxes we pay, what laws we must abide by. So what use are the likes of Phil Hogan and the rest of his sell out band of stooges in the so called new Irish Government to the Irish people? None! .There are no more than “Implementers of Policy” for our new masters in Europe .Last night I watched a documentary on Roman History and their use of hostages. The similarities are striking. Established Roman policy of drawing subjugated people’s into the administration of their own territories by Roman influenced natives was highly successful, the populations were thus Romanized and made compliant to the Roman imposed taxes and laws in this way.

Aren’t we now in the same situation?

We get Government ministers quoting IMF and EU agreements, (that were forced on us in the first place) as justification to impose new taxes and austerity measures on our people and our voice in Europe at the same time diminishing by the day. Listen to Minster Hogan here http://www.rte.ie/player/#v=1099645

Our country and its resources are been carved up and we are just sitting back and looking on while collaborators in the Irish government enrich themselves .

Mary O’Dea and the IMF


The Story.ie

I couldn’t let this one pass without comment either. Mary ‘shop around’ O’Dea has landed a new job at the IMF, as the Irish Independent reported earlier this month.
O’Dea, currently director general of financial operations at the Regulator, will become the IMF’s alternative executive director this July.
“I’m really looking forward to what I know will be a challenging role, especially at a time when Ireland is itself in an IMF/EU programme,” O’Dea told the Sunday Independent. This paper asked the Regulator two months ago if O’Dea would be taking up a new job in the IMF.
I suppose you could with some jest say that she is getting out of dodge when the going is good. Rumour has it there were no promotion prospects internally at the now expanding Central Bank, so she was bumped off to Washington. Apparently the job is a rather nice 3 years in Washington DC tax-free with expatriate benefits (including private schools).
Oddly though she goes from sitting in our Central Bank/Financial Regulator up to and during IMF intervention, to now sitting on the other side of the table to perhaps help scrutinise our adherence to an IMF deal.
(H/T P O Neill)


Ireland’s property market (Ronan lyons latest posting)

By Ronan Lyons

The spectacular and painful bursting of Ireland’s property market bubble since 2007 has brought to an end what one could term Property Market 2.0 in Ireland. The country’s “Property Market 1.0” was built in the late 19th and early 20th centuries, when successive London administrations made huge amounts of credit available at preferential interest rates so that tenant farmers could buy their plots. Throughout the 20thcentury, the urban poor remained as tenants while only the tiny but growing urban middle class took part in any sort of mortgage market.

“Property Market 2.0” emerged in the 1980s and 1990s, as competition among banks and building societies brought mortgages to the masses. Barely had this transformation time to take hold, though, then Ireland was a member of the Eurozone, with inappropriately low interest rates and a practically infinite supply of credit from global credit markets. Along with lax regulation of the banking and building sectors, the result was perhaps the biggest national property market boom and bust of the modern era.

Learning from the (recent) past

What will “Property Market 3.0” look like? As yet, nobody knows. It is safe to guess that, at least in its early days, it will be haunted by what has just happened. The worry is that initial prudence will eventually decay away, as institutional memory fades. The nightmare scenario is that at some point in the future, the 2020s or the 2060s, the lessons we’ve learnt are thrown away with a simple “Well, that could never happen now/This time it’s different/Insert self-deception here”.

So what can we do? An idea I’ve explored at length elsewhere is the importance of information. Having an official real-time database of transactions prices doesn’t just help people like me churn out research papers. It gives normal people the information with which to make informed decisions about whether to buy or rent and for how much. And in doing that, it actually reduces the chances of a bubble as bad as the one we’re recovering from now happening again. The national house price register looks like it is now government policy, so today, I’d like to focus on a couple of other ideas.

full article at source: http://www.ronanlyons.com/2011/05/31/ideas-for-building-property-market-3-0/


Ronan Lyons has posted a new on the Irish property market

However I do not agree that home ownership in Ireland should have a significant impact of a future Irish economy as I am advocating a totally different approach to home ownership in Ireland.

Firstly I do agree, that there should be no variable interest rates on home mortgages .But I also believe that the Banks should not be involved in giving out such mortgages in the first place .I do not accept that home ownership should be subject to the commercial turbulent system  we currently are enslaved to. No we need to have a system administered by the post office and credit unions where by a citizen can take out a fixed term loan at a fixed low interest rate of not more that 2.5%.This then can be passes on to siblings of paid off with a adequate insurance police in place, this insurance should also set up by the government. The point is that home ownership should not be subject to commercial dictates whatsoever .However it will be necessary to have some rules for example the mortgage amount to be taken out will only cover that of an average price home within the state and so if the price of a property is higher then the buyer must have the difference amount themselves Banks will not be able to top up the amount and take in as security the deeds of the property as they will be excluded from doing so.  To be clear I am talking about home ownership and not commercial buildings or business .The citizens will only be allowed to get one and only one of these mortgages, Moving up the property ladder will be deemed as a commercial move and thus subject to a commercial bank mortgage. This government backed move will only be for ones first home.

This idea may have some more thought to be invested in it but I think it is well worth a shot.

The bottom line is, home ownership should not be subject to any commercial interests but cater for a social necessity.

Free €5 experiment in Dublin

My thanks to Oliver for bringing this video to our attention

Thank you Sir.

Does this show us up, to be quite a cynical lot?

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