Posted by smeddum on October 9, 2008
The Edge of the Abyss: As Economic War Threatens
It’s Time to Fight Back. Let’s Start With National Teach-ins
by Danny Schechter
Global Research, October 9, 2008
The other day as I was out promoting my book Plunder with a talk at a New York bookstore on the day the market dropped precipitously. It was a day that I led my blog with a quote from financial analyst fearing we are on the edge of the abyss. Read the rest of this entry »
Posted in Uncategorized | Tagged: American revolution, bailout resistance, National teach-ins | Leave a Comment »
Posted by smeddum on October 9, 2008
FEMA sources confirm coming martial law
Wayne Madsen Heyoka Magazine
WMR
October 8, 2008
WMR has learned from knowledgeable Federal Emergency Management Agency (FEMA) sources that the Bush administration is putting the final touches on a plan that would see martial law declared in the United States with various scenarios anticipated as triggers. The triggers include a continuing economic collapse with massive social unrest, bank closures resulting in violence against financial institutions, and another fraudulent presidential election that would result in rioting in major cities and campuses around the country. Read the rest of this entry »
Posted in Uncategorized | Tagged: martial law | 1 Comment »
Posted by seumasach on October 9, 2008
9th October, 2008
NASHVILLE: The US presidential candidates assailed Russia on Tuesday, with Democrat Barack Obama saying Moscow had engaged in “evil” behaviour and Republican John McCain saying it was “maybe” an evil empire.
Read the rest of this entry »
Posted in Uncategorized | Tagged: Election 2008, McCain, New Cold War, Obama | Leave a Comment »
Posted by smeddum on October 8, 2008
Posted in Uncategorized | Tagged: Financial crisis | Leave a Comment »
Posted by smeddum on October 8, 2008
Posted in Uncategorized | Tagged: American revolution, Give me Liberty, Naomi Wolf | Leave a Comment »
Posted by seumasach on October 8, 2008
`Iceland is turning into the little Cuba of the north, said Ragnar Hannes Gudmundsson, 38, who has worked at Kaupthing Bank hf, Iceland’s largest lender. “The Soviet Union supported Cuba decades ago and now they are saving us.
Oct. 8 (Bloomberg) — For Russian Prime Minister Vladimir Putin, the financial crisis that is costing his government $200 billion may also provide an unexpected opportunity to expand his country’s influence.
Rejected by its Western allies, Iceland yesterday said it was in talks to borrow 4 billion euros ($5.4 billion) from Russia to shore up its financial system. It would be the first time Russia has extended financial assistance to a NATO country.
Read the rest of this entry »
Posted in Uncategorized | Tagged: bankrupt iceland, financial collapse, Russia bailout Iceland | Leave a Comment »
Posted by smeddum on October 8, 2008
*Press Release* Scottish Census contract is aiding cover-up by Abu Ghraib firm
SACC
Press Release from Scotland Against Criminalising Communities
Wednesday 8 October
Human rights group Scotland Against Criminalising Communities (SACC) wrote yesterday to John Swinney, Holyrood’s Cabinet Secretary for Finance and Sustainable Growth, to add its voice to calls for the Scottish Government to cancel the Scottish Census contract awarded to CACI Ltd, a UK subsidiary of a company that provided interrogators at Abu Ghraib prison in Iraq. Read the rest of this entry »
Posted in Uncategorized | Tagged: Abu Ghrab, torture | Leave a Comment »
Posted by smeddum on October 8, 2008
U.S. Stocks Drop; S&P 500, Dow Post Worst Retreats Since 1937
By Elizabeth Stanton and Eric Martin
Oct. 7 (Bloomberg) — U.S. stocks fell, sending the Standard & Poor’s 500 Index below 1,000 for the first time since 2003, on speculation banks and real-estate companies are running short of money as the credit crisis worsens. Read the rest of this entry »
Posted in Uncategorized | Tagged: Economic, economic collapse, Financial crisis, Wall street crash | Leave a Comment »
Posted by seumasach on October 8, 2008
The text below is the full text of the governments latest rescue scheme. This has been presented via the media and and right across the political spectrum as some kind of nationalisation or partial nationalisation of the banks. Here are the references to the governments role in this arrangement and the conditions attached:
“the Government is establishing a facility, which will make available Tier 1 capital in appropriate form (expected to be preference shares or PIBS) to ‘eligible institutions'”
“If the Government is to provide the capital, the issue will carry terms and conditions that appropriately reflect the financial commitment being made by the taxpayer. In reaching agreement on capital investment the Government will need to take into account dividend policies and executive compensation practices and will require a full commitment to support lending to small businesses and home buyers.”
“The current expectation is that the guarantee would be issued out of a specifically designated Government-backed English incorporated company.”
“In order to facilitate this process the Government is making available £25bn to be drawn on by these institutions if desired to assist in this process as preference share capital or PIBS and is also willing to assist in the raising of ordinary equity if requested to do so.”
“It is being made available immediately to the eight institutions named above in recognition of their commitment to strengthen their aggregate capital position.”
In summary, there are “expectations” that the government will take shares in the banks “if desired”. Apart from that £200 bullion plus is to be made available subject to vague commitments. The banker’s word is his bond: the government bond is the banker’s This statement makes absolutely clear the subordination of His Majesty’s Government to the banking cartel. Britain is now a fully-fledged kleptocracy which claims entitlement to all available wealth in the country. The process of the fleecing of the population through inflation, taxation and assorted acts of fraud has now been set in motion, in earnest.
Cailean Bochanan
8th October, 2008
Guardian After consultation with the Bank of England and the Financial Services Authority, the Government announces that it is bringing forward specific and comprehensive measures to ensure the stability of the financial system and to protect ordinary savers, depositors, businesses and borrowers. Read the rest of this entry »
Posted in Financial crisis, Uncategorized | Tagged: bailout of bankrupt britain | 1 Comment »
Posted by smeddum on October 8, 2008
Amazingly, McDonnell claims once again in Guardian comment that this is a part nationalisation. And yet what evidence is there in Darling’s statement that this is even partial nationalisation?
Immediate Reaction to Government Bans Bail Out Proposals. john4leader
This is the press release I have put out this morning in response to the Chancellor’s announcement of the Government’s bank bail out proposals.
Government Plan Nationalises Losses
Taxpayers to pay for Bankers Greed
Fear Too Little Too Late Read the rest of this entry »
Posted in Uncategorized | Tagged: no to bailout | Leave a Comment »
Posted by seumasach on October 8, 2008
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Reporting by Carolyn Cohn and Natsuko Waki
LONDON, Oct 7 (Reuters) – The Icelandic crown fell against the euro on Tuesday after comments from Icelandic Prime Minister Geir Haarde failed to reassure investors.
Posted in Uncategorized | Tagged: bankrupt iceland, euro, financial collapse | Leave a Comment »
In These New Times 