With the financial markets already in a state of panic and the global recession expected to worsen in 2009, we can ill afford to allow the financial institutions, charities, and rich idiots that entrusted Bernard Madoff with their money to go bust. As for the widespread contention that since Mr. Madoff committed fraud he deserves to go to jail, do not think of Madoff as operating a ponzi scheme so much as a Strong Armed Perception Fund (SAP Fund), and don’t think of him as breaking the law so much breaking new ground in the arena of fictitious returns.
Yet again Warnke’s research is ignored. Here we get a clue, money for research is more important. Dennis vanEngelsdorp wishes us to expand
the bee industry and encourage pollinators, but that ignores the fundamental growth of the intensity of EMF radiation over the recent period. Here is a timeline.
When the government of Ecuador failed to make a scheduled interest payment on private bonds today, it was hardly the first time a country had defaulted in the middle of a financial crisis. In fact, it wasn’t even the first time for Ecuador. The small South American country did so just 10 years ago, at a time when the economy was reeling from natural disasters and a drop in oil prices.
But this default is different. For the first time in history, the government’s defense isn’t based on an inability to pay. Ecuadorian President Rafael Correa explained rather that he was unwilling to continue to pay debts that are “obviously immoral and illegitimate.”
Over 650 dissenting scientists from around the globe challenged man-made global warming claims made by the United Nations Intergovernemntal Panel on Climate Change (IPCC) and former Vice President Al Gore. This new 231-page U.S. Senate Minority Report report — updated from 2007’s groundbreaking report of over 400 scientists who voiced skepticism about the so-called global warming “consensus” — features the skeptical voices of over 650 prominent international scientists, including many current and former UN IPCC scientists, who have now turned against the UN IPCC. This updated report includes an additional 250 (and growing) scientists and climate researchers since the initial release in December 2007.The over 650 dissenting scientists are more than 12 times the number of UN scientists (52) who authored the media-hyped IPCC 2007 Summary for Policymakers.
Tskhinvali, South Ossetia — On the sunny afternoon of August 14, a Russian army colonel named Igor Konashenko is standing triumphantly at a street corner at the northern edge of Tskhinvali, the capital of South Ossetia, his forearm bandaged from a minor battle injury. The spot marks the furthest point of the Georgian army’s advance before it was summarily crushed by the Russians a few days earlier. “Twelve Georgian battalions invaded Tskhinvali, backed by columns of tanks, armored personal carriers, jets, and helicopters,” he says, happily waving at the wreckage, craters, and bombed-out buildings around us. “You see how well they fought, with all their great American training — they abandoned their tanks in the heat of the battle and fled.”
Most of us take for granted that those rectangular green slips of paper we keep in our wallets are inviolable: the physical embodiment of value. But alternative forms of money have a long history, and appear to be growing in popularity. It’s not merely barter, or primitive means of exchange like, say, seashells or beads. Beneath the financial radar, in hip U.S. towns or South African townships, in shops, markets, and even banks, throughout the world people are exchanging goods and services via thousands of currency types that look nothing like official tender.
Bernie Madoff’s alleged $50bn fraud may be just a foretaste of what’s to come
First come the losses and the stupidities committed by bankers working for their own self-interest.
Dec 2008
Then come the rogue traders, who are unable to ‘fess up on market bets gone wrong. The last to arrive is the “bezzle”.
That was economist JK Galbraith’s word for the outright frauds built up when markets are good. These can be kept hidden for as long as the lies hold up. But the truth will out.
The first big outing in the current financial crisis is an alleged scam that may cost investors as much as $50bn. Read the rest of this entry »
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In These New Times 