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RE-RESECURITISATION OF SECURITISED JUNK BY THE FDIC
SUMMARY OF THE CRIMINAL CLOWNS' LATEST ABERRATIONS AND IDIOCIES
Tuesday 26 January 2010 03:00
• ROY GRANTHAM, FORMERLY OF NATWEST BANK: YOU NEED TO GET IN TOUCH WITH US.
Update, 27th January: Mr Grantham has not yet been in touch! Do you have a problem with this,
Mr Grantham? See what we say below about our capacity to EXPOSE LIES AND DECEPTION.
• SEPARATE THOUGHT FOR THE DAY: Are Thames Valley Police HQ (North), Fountain Court, Oxford Spires Business Park, The Boulevard, Kidlington OX5 1NZ, interested in investigating possible EMBEZZLEMENT of very large sums of money?
Who is interested in investigating EMBEZZLEMENT?
• FURTHER PENETRATING NUGGET: Dr Josef Goebbels' method was to repeat a lie incessantly, on the basis of Psy-Ops findings that if a lie is reiterated ad nauseam, it winds up masquerading as the 'truth'. This is the same methodology as is being employed this very day by certain notoriously reprobate CIA/DVD-sponsored cult websites which assume that the repetition of ancient lies will turn those lies into the 'truth'. Unfortunately for the co-conspiring perpetrators of these lies, this technique cannot yield the intended EMBEZZLEMENT results, not least because the perpetrators are typically slapdash, have made and are continuing to make CARELESS MISTAKES, and are thus in the process of being found out. The US websites that are promulgating these old lies are actually assisting the process of exposure, bringing to mind the adage: 'Hoisted with their own petard'.
• NEW INFORMATION: At 00.15 am on 27th January 2010, the Editor was authoritatively informed that Homeland Security, controlled by Janet Napolitano, is THREATENING THE PRESIDENT OF THE UNITED STATES. The Editor enquired whether the threats were of PHYSICAL HARM, and the answer was an EMPHATIC YES. It will be recalled that some years ago, the US Secret Service was placed under the control of the Department of Homeland Security. We referenced the fact that the President is being threatened in an earlier report, recently. THIS INFORMATION IS CONFIRMED.
The threats are related to the financial crisis and are also associated with an ongoing Bush-style pass-the-parcel deception carousel, whereby Panetta hasn't received instructions from Obama on Monday, Geithner hasn't received the go-ahead from Panetta on Tuesday, Bernanke was out of town so could not make any decisions on Wednesday, Father Christmas was in the White House and took up the President's time all day Thursday and now, 'Oh dear, it's the end of the week again'.
• Senator Bunning has stated [26th January] that Dr Ben Bernanke has been promising Senators the earth, the moon, the stars and the sun, to back his renomination. Quite clearly, these financial operatives don't care whether they are exposed, or not. The just carry on 'business as usual'.
• IN MEMORIAM AND HORIZONTALISATION NEWS: We are awaiting the further elaboration of our extended and upgraded website platform to be finalised so that the current IN MEMORIAM section can be separated out and made more accessible.
In the meantime, the following new cases are added:
• 18th January 2010: Munich police stated on this date that they had found the body of a missing private equity manager, Dirk Poschinger von Camphausen, employed with EQT Partners, Germany. The 36-year-old former Morgan Stanley employee was reported missing by his wife on 14th January. According to the Munich newspaper Abendzeitung, police have made three arrests in connection with this case. The financier was planning to move to the United States.
• 24th January 2010: Herman Rockefeller 'disappeared' on this date after leaving Melbourne Airport. His abandoned car was found about 75 miles from the city by police. Rockefeller ran Brierly Investments, subsequently (or a.k.a.) BIL International Limited. It is not yet known whether he is dead, or when he has 'disappeared' with the funds controlled by that entity.
• 26th January 2010: Markus Reinhardt, the Chief Security Officer for the World Economic Forum, was found dead in his hotel room on this date. Reinhardt was previously, for 26 years, in charge of the Grison Canton's police service. Sources at Davos said that the operative 'committed suicide'.
• DIALECTICAL INITIATIVE NUMBER ONE: THE OBAMA-VOLCKER PLAN
• WORDS LIKE 'CORRUPTION', 'FRAUDULENT FINANCE' AND 'SCAM' WERE NEVER MENTIONED
• BANKING INDUSTRY REACTS BY INDICATING THAT IT WON'T COOPERATE
• BRITISH AUTHORITIES LIKEWISE SIGNAL THEIR UNWILLINGNESS TO COOPERATE
• [MYNERS' STATEMENT] NOT TRUE: A CASE FROM THE NORTHERN ROCK PORTFOLIO
• SO, LORD MYNERS, YOU WERE TALKING ABSOLUTE NONSENSE IN THE SUNDAY TIMES
• 'VOLCKER RULE' AND 'REGULATORY COMPETITION' AT THE LONDON G-7 MEETING
• CONGRESS INDICATES QUALIFIED SUPPORT FOR VOLCKER'S ESSENTIAL REFORMS
• 'DEBATE' CALLED FOR THAT IS ENTIRELY UNNECESSARY
• DIALECTICAL INITIATIVE NUMBER TWO: FDIC TO RE-SECURITISE SECURITISED 'ASSETS'
• DISCONNECT BETWEEN LONDON AND WASHINGTON OVER SECURITISATION
• PERVERSE REFUSAL TO LEARN THE LESSONS FROM THIS CORRUPTION CRISIS
• OBVIOUS STRAINS IN THE BRITISH BUILDING SOCIETY SECTOR
• BUSINESS MODELS HAVE BEEN TRASHED BY THE CORRUPT INCOMPETENTS IN CHARGE
• OBAMA INCURS MORE DEBT IN 2 YEARS THAN HAS BEEN INCURRED IN A CENTURY
• THE NOTION THAT THE CRISIS AND RECESSION ARE OVER IS DIVERSIONARY GARBAGE
• SOUND SOLUTION WAS AGREED UPON 4 YEARS AGO, BUT SABOTAGED BY WASHINGTON
• THE SITUATION WILL BE TRANSFORMED WHEN THESE FOOLS ARE FORCED TO COMPLY
• NEW LIES FOR OLD: AN OLD WANTA LIE RECYCLED
• LIKELY CIA OPERATION TO DOUBLE-CROSS THE BRITISH MONARCHICAL POWER
• WELCOME TO THE INTENDED ACCELERATING SLIDE TOWARDS GLOBAL FINANCIAL CHAOS
• FINALLY, PLEASE MARK THESE DEVELOPMENTS AND WARNINGS
• RON PAUL COMES OUT AND SAYS 'THE CIA RUNS EVERYTHING. THERE'S BEEN A COUP'
Interviewed on the Glenn Beck radio show on 25th January 2010, Representative Ron Paul stated quote: '...there's been a coup, the CIA coup. They run everything... So they make their own money. They make their money in the drug trade, they can own businesses'. This interview was aired on 25th January 2010 at 2:07 pm Eastern Standard time on the nationally syndicated Glenn Beck radio programme. The complete transcript and audio is accessible from this link: http://www.glennbeck.com/content/articles/article/196/35490/
• We need hardly emphasise the importance of this development. It may be that now that we have prepared the ground so thoroughly, Rep. Paul feels it is 'safe' to engage the Intelligence Power at last. Certainly, as we have repeatedly stated, this evil monstrosity, which spews out disinformation and lies, cult New Age trash and degrading filth of every description, whose personnel and related associates are ALL duplicitous, doubleminded, amoral liars, is a menace not simply to the United States, but to the whole world. We used to refer to the KGB as a criminal organisation. The CIA and its multiple subsidiaries are infinitely worse. Until this issue is decisively addressed, the future of the United States and the Rest of the World is bleak. The stupid, cow-towing officials in the British bureaucracy, for starters, need to wake up and face this nasty reality. Britain should no longer be contaminated by these scum of the earth, who rampage around the world inflicting injury and death (which is their ONLY product) and who are holding the whole world to ransom to satisfy their lust for power and inordinate greed. We welcome Representative Ron Paul to the necessary campaign to rid the United States and the World of this hideous monster. Now let's get cracking in earnest.
• WHEN READING THIS NEW REPORT, PLEASE REFER TO THE FOLLOWING POSTINGS
ON THIS WEBSITE, all of which can be accessed immediately by pressing ARCHIVE:
• 28 December 2009:
OFFICIAL: MONEY SABOTEURS = ECONOMIC TERRORISTS
• 07 January 2010:
OPERATION STILLPOINT TO DESTROY AMERICA STOPPED
• 09 January 2010:
U.S. INTELLIGENCE POWER ‘STEALS $1.3++ TRILLION’
• 09 January 2010:
TEXT OF THE CMKM/CMKX LAWSUIT FILED AGAINST THE S.E.C.: CASE NUMBER CV10-00031-JVS (MLGx): ‘Money Demanded in Complaint: $3.87 trillion’: THIS IS THE BIGGEST FRAUDULENT FINANCE LAWSUIT IN HISTORY: MASSIVE SCAMMING PLATFORM RUN BY BUSH JR.’s S.E.C.
• 11 January 2010:
'INTERPOL SEIZES MONEY DISTRIBUTION LAW FIRM DATA'
• 13 January 2010:
STINKING C.I.A. CAULDRON EXPLODES IN THEIR FACES
• 17 January 2010:
CLINTBUSH: WE'RE STEALING HAITI'S 'KATRINA' CASH
• 20 January 2010:
BUSH SENIOR THREATENS OBAMA AND HIS FAMILY
MISPRISION OF FELONY: U.S. CODE, TITLE 18, PART 1, CHAPTER 1, SECTION 4:
‘Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some Judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both’.
'Seeing what's at the end of one's nose requires constant effort'. George Orwell.
• FOR SEVERAL YEARS WE HAVE CARRIED THIS RUBRIC AT THE FOOT OF EACH REPORT:
• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.
• BOOKS: Edward Harle Limited has so far published FIVE intelligence titles: The Perestroika Deception, by Anatoliy Golitsyn; Red Cocaine, by Dr Joseph D. Douglass, Jr.; The European Union Collective, by Christopher Story; The New Underworld Order, by Christopher Story; and The Red Terror in Russia, by Sergei Melgounov. All titles are permanently in stock. We sell books DIRECT.
• Globalist hegemony ideology and practice are comprehensively debunked in the Editor's study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website. Also, the Editor's study entitled The European Union Collective, which proves that the EU is a long-range strategic entrapment operation to reduce European countries to satrap status within a German empire using economic strategy for relentless economic warfare purposes, can be bought here.
• Please Make a Donation, if you feel able to do so, to help finance Christopher Story's ongoing global financial corruption investigations. Your assistance will be very sincerely appreciated and will make a real difference, hastening the OVERDUE resolution of the worst financial corruption and linked financial fallout in world history. Just press Make a Donation, which is live, and it takes you straight to our ultra-safe ordering system, which accepts Visa and MasterCard. Or press the live Donate link at the top right-hand corner of this page. See also the ADVERTISEMENT below.
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By Christopher Story FRSA, Editor and Publisher, International Currency Review, World Reports Limited, London and New York. For earlier reports, press the ARCHIVE. Order your intelligence subscriptions and our 'politically incorrect' intelligence books online from this website.
NEW REPORT STARTS HERE:
DIALECTICAL INITIATIVE NUMBER ONE: THE OBAMA-VOLCKER PLAN
On Thursday 21st January, President Obama appeared at a presentation in the White House flanked by the only known luminary in his Administration, Paul Volcker, the former Chairman of the Federal Reserve, before it was catastrophically corrupted under Greenspan and Bernanke. Proclaiming that ‘never again will the American taxpayer be held hostage to a bank that is too big to fail’, Mr Obama demanded that banks must be precluded from running their own trading operations, and from ‘owning, investing in or sponsoring so-called hedge funds or private equity entities’.
It appears that the US Treasury Secretary, Mr Timothy Geithner, who has consistently operated on the basis that the derivatives discontinuity could be restored and that the accumulation of official debt in the background on a gargantuan and open-ended basis is ‘Okay’, was not informed about this initiative – accounting for his initial sullen response to it, following by a sudden conversion after he had realised that he was in immediate danger of relegation (which will follow anyway).
The complacent and now broadly hated banking industry was also taken off-guard. The markets immediately marked banks’ shares down sharply – with the FTSE 100 falling from 5478.37 on 18th January to 5335.38 at the London close on 21st January 2010.
President Obama elaborated:
'In recent years, too many financial firms have put taxpayer money at risk by operating hedge funds and private equity funds and making riskier investments to reap a quick reward. And these firms have taken these risks while benefiting from special financial privileges reserved only for banks'.
'While the financial system is stronger now than it was one year ago [not true: see later in this report – Ed.], it’s still operating under the same rules that led to its near collapse'.
'These are rules that allowed firms to act contrary to the interests of customers; to conceal their exposure to debt through complex financial dealings; to benefit from taxpayer-insured deposits while making speculative investments; and to take on risks so vast that they posed threats to the entire system…’ an activity that in former years used to be called rank speculation. In time of war, back then, financial speculators in certain countries used to be hanged.
Having in the preceding week unveiled a ‘super-tax’ to claw back some $90 billion of US taxpayers’ money written off under the $700 billion TARP million bail-out operation which has in fact been exploited to set up trading operations contrary to the advertised intent, Mr Obama proclaimed:
‘If these folks want a fight, it’s a fight I’m ready to have’.
WORDS LIKE 'CORRUPTION', 'FRAUDULENT FINANCE' AND 'SCAM' WERE NEVER MENTIONED
But conspicuously missing from the President’s belated pronouncement was any use of the words ‘corruption’, ‘corrupt’, ‘Fraudulent Finance’, ‘deceitful marketing’ (of so-called mortgage-backed securities with no recourse to the underlying stream of real funds), let alone any reference to the reality – which the entire financial sector and its official associates are shirking around the world – that this is a criminal finance crisis, first and foremost, rather than a near-miss systemic meltdown. As is even more disgracefully the case in London, the very notion that we are dealing with rampant financial mis-marketing and fraud, remains simply taboo, other than in the pages of International Currency Review and on our website.
This, of course, reflects the following realities:
• Without exception, all the ‘mainstream’ media outlets are compromised in one way or another, whether through bribery, ACTUAL involvement in Fraudulent Finance, constrained by catering for advertisers who are themselves engaged in Fraudulent Finance operations, ignorance, an inability to embrace the concept that the financial sector has been fatally penetrated by intelligence-linked organised crime and its practices, or most damningly of all, a complete refusal to understand the rôle of the corrupted intelligence sector, or even to recognise that it has had anything to do with this crisis at all (notwithstanding that derivatives were actually invented, originally, by the CIA).
• All involved typically meet in the same places and all year round – massaging each other’s egos, prejudices and misconceptions, as, for instance, at the World Economic Forum, Davos, convened in late January every year, which is in reality a big German-Swiss-sponsored brain-fest serving the familiar purpose of ensuring, like the Bilderberg Meetings, that there is to be no deviation from the blueprint globalist (revolutionary, anti-nation state) concept which ‘just happens to be’ the mantra and long-range strategy espoused and promoted, through any means available, by the heirs of the Nazi Abwehr (DVD: Deutsche Verteidigungs Dienst), Dachau.
• The symbol of the World Economic Forum, as would be expected, is geomasonic, depicting a Swiss mountain shaped, naturlich, like a triangle. By their symbols, ye shall know them.
BANKING INDUSTRY REACTS BY INDICATING THAT IT WON'T COOPERATE
Naturally, the banking industry organised itself almost immediately to lobby against the Obama-Volcker proposals, throwing multiple spanners into the works from the outset. After recovering from their initial shock, hyperactive financial sector spinmeisters were soon providing the media with the benefit of their considered responses, to wit:
• Anonymous banker: ‘It’s the writing on the wall. We’re all being sent back to the Dark Ages’. Unspoken: ‘We’ve been caught out and we won’t be able to scam the public any more’.
• Frederick Cannon, of Keefe, Bryuette & Woods: ‘We believe the timing of the announcement and the lack of detail are indications that the Administration’s proposal is more of a political statement than a serious legislative proposal’.
Facts: This was wishful thinking. The timing of the announcement was dictated by the events earlier in the week, notably the blowing of multiple 'Black Operations' by our report dated 20th January, and the outcome of the Massachusetts by-election. The lack of detail reflected precisely the fact that President Barack Obama had indeed seized the opportunity presented by the stronger position in which he paradoxically now found himself following that election, and the destruction of the intended and ongoing operations that our report dated 20th January procured.
• Crédit Suisse analysts wrote, in defence of their institution’s interests, that the ‘Volcker Rule’ represented the start of a new round of beggar-thy-neighbour regulatory arbitrage: ‘In previous episodes of US re-regulation, the reaction of European Governments has not been to duplicate the United States but to take advantage of it by allowing US banks to use the euromarkets to carry out business that would not be possible under domestic regulation’.
What Crédit Suisse’s analysts did not of course mention was the fact that it has always been the strategy of US criminalised finance, both originated and exploited by the Intelligence Power which controls the US Government, to export the myriad corrupt practices that it sponsors – sucking foreign banks and other targets into its dense network of counterparties, in the same way that criminals deliberately seek to ensure that their targeted victims are compromised so that they themselves become enmeshed in criminal activities.
The fact that European rules and regulations have deliberately diverged over the years from those applicable in the United States (securities legislation, for instance) has been explicitly leveraged and exploited in the interests of dodgy and fraudulent financial operations – which highlights the reality that calls for ‘international cooperation’ in this context represent deliberate cop-outs (for instance, on the part of the British Conservative Party, in response to the Volcker initiative).
• Philip Finch, of UBS, which is one of the banks that has been most egregiously involved in these Fraudulent Finance operations all along: ‘The Volcker proposal has raised a number of questions making it difficult to assess at this stage. How is proprietary trading defined? Does it include taking positions in client flows? What is the likely market-share cap on non-deposit funding? Will all banks be affected? Can bank holding companies opt out?’ Unspoken: We have assembled all the knee-jerk objections we can muster in order to signal to Paul Volcker that we are not about to lie down under this assault, and to try to sabotage the proposals before they gain real traction. In other words, we have signalled that, as always, we place our own selfish interests first.
BRITISH AUTHORITIES LIKEWISE SIGNAL THEIR UNWILLINGNESS TO COOPERATE
In response to this development, and as has indeed apparently been the case throughout this crisis, the British authorities have behaved in as uncooperative a manner as possible. At the UK Treasury and in Downing Street, officials gathered to watch Mr Obama’s speech and to absorb the President’s announcement on proprietary trading – ‘the Volcker Rule, after this tall guy behind me’. According to press reports, there had been no prior warning from Washington that any important initiative was intended, so expectations were VERY low. Just as the White House had evidently not bothered to forewarn Mr Geithner, neither had the President’s officials taken steps to cue London in on what was about to be promulgated.
Lord Myners, the City of London Minister, was quick to make it clear that London does not agree with President Obama and Paul Volcker:
‘The argument is that hedge funds, private equity and proprietary trading are a source of risk: that is not our general view’, Myners asserted – his observations flying, of course, into the face of the actualité, and indicating that London is, if anything, even more determined than before, to cover up the open-ended criminal financing that has been taking place, and for which the City of London has indeed become notorious. The Editor needs a gasmask when walking down Whitehall.
Myners elaborated: ‘In the UK, the three activities [listed above] were not responsible for RBS, HBOS or Northern Rock, who, on the whole, failed in the rather classic way of making bad loans’.
THIS IS NOT TRUE. HERE'S A CASE FROM THE NORTHERN ROCK PORTFOLIO
This is actually a brazen untruth. Northern Rock appears to have been involved up to its neck in Fraudulent Finance, through its Granite subsidiary in Jersey. We have obtained the complete file on a particular case in which a Northern Rock mortgagor upset that entity’s applecart by doing what is never supposed to happen – paying off her mortgage early, which she did in 2004. In exchange, the lady in question expected to receive her mortgage documents back, which would have enabled her to sell her property should she have so wished.
But having indicated that the Title Documents would be returned, given that the mortgage had now been paid off, Northern Rock suddenly asserted that they could not find her papers. The lady then spent the next FIVE YEARS trying to recover her Title Documents. Unfortunately, in some despair, she eventually accepted an ex gratia payment of £150.00 in compensation for the distress she had been caused by this wayward British institution.
But this slip-up on her part has not in fact harmed her case because, after Northern Rock had been bailed out and taken into official ownership, it appears that the British Government’s investigators, auditors or officially-appointed bank staff may have been ordered to disgorge all documents that may have been ‘sold forward’ and packaged into ‘structured products’ – or at least, to disgorge mortgage documents associated with mortgages that had been paid off, as was the case here.
In June 2009, therefore, all of a sudden, Northern Rock revealed that they had ‘found’ the papers, which they finally sent to the former mortgagor. It therefore appeared that this lady’s mortgage documents had been retained long after the mortgage had been paid off, raising the possibility that the documents may have been packaged into a ‘structured product’ and so could not easily be dislodged from that ‘structured product’ – until the affairs of that corrupted institution had wound up in the hands of the British Government.
When finally returning, on 12th June 2009 – five years after the mortgage was paid off completely – the Title Documents relating to the lady’s property that the institution had previously insisted that they could not possibly hope to locate, Northern Rock stated:
‘These Title Documents relating to your property should be stored by you in a safe place.
I therefore enclose the Title Documents for your safe keeping’.
But previously, the institution had tried to fob the mortgagor off, for FIVE YEARS, with copies of the documents as held by the UK Land Registry, with the implication that these were perfectly good enough, so what was the lady on about? In reality, since she lacked the original Title Documents, which needed of course ‘to be stored… in a safe place’, Northern Rock may have committed fraud against the mortgagor by holding on to her original Title Documents, thereby preventing her from exercising her right to sell her property should she have so wished, at any time in the five-year period during which Northern Rock claimed that the documents could not be found.
In all probability, they couldn’t be found because they were bundled into an alienated ‘structured product’ based on mortgages; and the fact that the lady had paid off her mortgage, had invalidated that component of the ‘structured product’ (even though ‘owners’ of the structured product, in reality, could enjoy no recourse to the underlying flow of real funds anyway). In other words:
• Northern Rock had retained the Title Documents for 5 years after the mortgage had ended.
• Did this reflect the fact that the Title Documents formed part of a ‘structured product’ which could not easily be unbundled without destabilising the ‘structured product’ in question?
• Irrespective, the fact was that the lady was, as a consequence of this apparently fraudulent behaviour and the endless evasions perpetrated by Northern Rock over the five-year period, of which we have exhaustive documented evidence, prevented from being able to sell her property – given that the Title Documents which, as Northern Rock finally conceded, needed to be kept by her securely because of their importance in indicating that she enjoys full title to her property, were withheld from her custody by this recalcitrant financial entity.
• UPDATE, 2:15PM UK TIME 26TH JANUARY:
We have just received a communication from Australia, from a correspondent who has endured the same treatment as the lady referenced above: except that in his case, he has never received his Title Deeds back. The bank involved in his case is COMMONWEALTH BANK of Australia.
• THESE CASES ARE OF EXCEPTIONAL SIGNIFICANCE because they illustrate that the mortgage documents CANNOT BE DISGORGED because they are being used to back 'structured products'.
In other words, what these cases are revealing is the UNDERLYING FRAUD associated with the fact that Title Deeds belonging to the mortgagor have been alienated for purposes other than those for which they were intended, and so may not be available, e.g. if the mortgage is paid off early. No wonder the mortgagors are treated like dirt, given the run-around for years, and faced with never-ending evasiveness, lies and diversions as the institutions are found out by their abused clients. The writing is well and truly on the wall for ALL criminal financiers.
It is because of this bind in which the criminal enterprises and their sponsors find themselves that there is an operation to try to CRASH THE SYSTEM (9/11 magnified) so as to escape the inevitable consequences of being found out. HENCE, THE CRIMINALITY IS UNRAVELLING IN REAL TIME...
SO, LORD MYNERS, YOU WERE TALKING ABSOLUTE NONSENSE IN THE SUNDAY TIMES
Since Lord Myners has stated, according to the Sunday Times, dated 24th January, pages B6-B7, that ‘Northern Rock… failed in the rather classic way of making bad loans’ and not as an evident consequence of proprietary trading, details of this case, with the relevant documents, are to be elaborated in the forthcoming issue of International Currency Review, to illustrate that the British Government appears to be focused on covering up corruption, rather than cleaning up the filth in the City of London and beyond. That comes as no surprise: as Lord Myners elaborated:
‘We certainly don’t want to crack down on hedge funds and private equity, and proprietary trading is best handled through capital and leverage controls’.
But what Myners was really saying, as he responded in the City of London’s interests and revealed yet again that there is no intention, beyond some inadequate proposals recently put forward by the Financial Services Authority under Lord Turner, was this:
‘We’re stuck. We can’t do anything because we need the tax revenues generated by the London financial sector to help extract us from the colossal financial and fiscal hole that we have dug for ourselves’, given that by December 2009, Britain’s public sector debt had soared to £870 billion, representing 61.7% of Gross Domestic Product. According to the UK Office of National Statistics, the Government borrowed £15.7 billion in December 2009, compared with £13.8 billion in the same month a year earlier. Over the 12 months to April 2010, the British Treasury has forecast a total Government Borrowing Requirement of about £170 billion, which is without historical precedent.
'VOLCKER RULE' AND 'REGULATORY COMPETITION' AT THE LONDON G-7 MEETING
At the Group of Seven Meeting held in London on 25th January (so that attendees could then disappear for their DVD brainwashing session at Davos), issues arising from the ‘Volcker Rule’ were said to have been the subject of heated discussion.
But it was, after all, the G-7 that originally approved the Dollar Refunding Programme, for which the sovereign $6.2 trillion of loan money was made available on 19th-20th June 2007: so the G-7 has all along known perfectly well what the sound solution to the crisis needs to be – namely, transparent, fully taxable trading ON THE BOOKS, rather than clandestinely untaxed off the books, in corrupt breach of the US securities and tax regulations, and in perpetuation of the Fraudulent Finance and malicious marketing techniques that have generated quadrillions of fake proceeds that are stuck off-balance sheet and in offshore bank accounts and cannot be brought onto the books because of the ‘source of funds’ requirements imposed under Basel II and Basel III, except via shady bankers dedicated to continuing the corruption.
Underlying all this, of course, is the phenomenon of ‘regulatory competition’, the central issue that Professor Richard Dale, one of the original founders of International Currency Review, has been elaborating for many years. With the benefit of the deep knowledge that has become available as a consequence of our investigations into intelligence-linked and -sponsored Fraudulent Finance, it is now clear that ‘regulatory competition’ has all along served the warped, selfish interests of the corrupted Intelligence Power and its associated cadres, deepening and perpetuating the decadent free-for-all mentality which has enabled this service to describe certain well-known institutions as criminal enterprises, which is what they are and what they implicitly acknowledge themselves to be.
CONGRESS INDICATES QUALIFIED SUPPORT FOR VOLCKER'S ESSENTIAL REFORMS
US Congressional figures indicated that they would be prepared to support the Obama-Volcker proposals under certain conditions. Specifically, the Chairman of the House of Representatives’ Financial Services Committee, Barney Frank, responded that he would be willing to support new rules if they allowed the banks to dispose of newly prohibited operations over three to five years, in order to prevent ‘fire sales’. But the banking lobby immediately smelled fresh opportunities for filibustering and throwing more grenades into the bonfire, given the likelihood of many protracted debates in Congress – which would give them the chance to advocate self-interested changes in proposed legislation while at the same time adapting their businesses to the new circumstances.
'DEBATE' CALLED FOR THAT IS ENTIRELY UNNECESSARY
In Europe, however, voices called for a ‘debate’ on central issues that this service has long since addressed in immense detail, so that no further ‘debate’ is actually needed.
For instance, Carl Rosén, Executive Director of the International Corporate Governance Network, said following the Obama-Volcker proposals that investors using derivatives to gain exposure to equities forfeit rights and responsibilities – which of course is precisely what we have repeatedly made clear. Very late in the day – considering not least what we have published – Mr Rosén warned that the practice of using derivatives to replicate the returns on an underlying index or purported real asset base meant that investors gave up rights to exercising any control over the underlying companies’ or assets’ behaviour or performance, as they do not hold the shares themselves.
‘It’s important’, Mr Rosén added, to look at new instruments and their implications for the wider market’. But whatever you do, Mr Rosén, please always make sure that you never allude to the blatant reality that marketing a ‘structured product’ on the basis of the prestige of the banking name doing the marketing and nothing else, is FRAUD. It is fraudulently maintained that a line of securitised ‘assets’ has value, whereas that is merely an unproven, unbacked assertion.
• As a Goldman Sachs compliance officer told the Editor of this service directly:
‘The value of a structured product depends on what someone is prepared to pay for it’.
DIALECTICAL INITIATIVE NUMBER TWO: FDIC TO RE-SECURITISE SECURITISED 'ASSETS'
Bearing in mind our repeated assertions that these people are all double-minded, it is no surprise to discover that the Obama Administration is itself blatantly double-minded, as well. For instance, The Financial Times reported on 25th January that the US Federal Deposit Insurance Corporation is working on plans to package $36 billion of ‘assets’ on its books acquired from ‘failed’ institutions during the financial crisis period (which is now, by the way, being perversely referred to as having occurred in the past).
In other words, the FDIC appeared to be examining options to revert to mass securitisation – with a view to plonking its dud ‘assets’ into the hands of institutions and the public, despite the manifest reality that since these 'assets' have no value, asserting that they DO have value by marketing them with a price tag, represents yet another US official foray into financial fraud. To repeat: the FDIC is proposing to market FRAUDULENT ASSETS. Just like the S.E.C. [see CMKM/CMKX report].
Naturally, certain parties started prematurely rubbing their hands at this enticing prospect. Said Christopher Whalen, Managing Director of Institutional Risk Analytics: ‘The FDIC is going to be a big issuer in the securitisation market this year. This could lead the way in terms of recreating the securitisation market, as the FDIC deals could end up being the new template’.
The implication was that the FDIC under Sheila Bair, its Chairman, ‘is dusting off the playbook [note this language – Ed.] of the Resolution Trust Corporation (RTC), the state-owned entity that was created by Congress to ‘resolve’ the dud assets of the Savings and Loan Associations that were ransacked in the 1980s by the organised criminal cadres linked to the Intelligence Power under George Bush Sr. in the 1980s. The RTC was charged with the task of liquidating ‘assets’ acquired from ransacked, insolvent Savings and Loan units.
Interestingly, The Financial Times’ report from New York on this development contained the following admission, which is worth citing verbatim here:
‘The market for such securitised assets was once a source of hundreds of billions of dollars a year of financing for banks and companies, but has been largely closed for private mortgage finance since investors lost billions of dollars on mortgage-related debts in the crisis'.
DISCONNECT BETWEEN LONDON AND WASHINGTON OVER SECURITISATION
The disconnect between both the White House and components of the US structures (such as the FDIC) on the one hand, is matched by an apparently deepening financial policy breach between Washington and London generally, on the other, as this continuing (whatever misguided pundits may profess) crisis matures, AND GETS WORSE BY THE DAY.
For instance, we learn that Land Securities, London, is preparing to invest in property-based derivative instruments – having, unbelievably, appointed two of the very worst offenders, Royal Bank of Scotland and JP Morgan, to act on its behalf in trading property derivatives.
Land Securities owns many properties in the retail and London office sectors; and its decision appears to be based on an intent to use derivatives to hedge or balance exposure by selling contracts in these sectors, or purchasing others on the assumption that they will outperform the corporation’s directly owned real estate. Derivatives were said to represent an efficient means of investing in the commercial property market, removing costs such as stamp duty, legal and agency fees, and management costs. The firm's underlying objectives may include increasing exposures to components of the investment market, or reducing some of the risk inherent in owning a massive portfolio of real estate directly, should property values fall in any forthcoming downturn.
PERVERSE REFUSAL TO LEARN THE LESSONS FROM THIS CORRUPTION CRISIS
None of which in any way suggests that lessons have been learned from the ‘narrow shave’ that the UK and international financial systems suffered when the derivatives model imploded after the deliberate abuse of sovereign funds had been abruptly blocked on 10th-12th September 2008.
And in neither of the world’s main financial capitals, can we discern any real inclination to apply reforms on the scale and in the depth that would appear to be essential, if a much worse calamity is to be avoided in quite a short space of time.
Talk in London of the ‘recession’ being over is ominously accompanied by evidence that Britain’s inflation rate is already out of control. Specifically, the year-on-year consumer price inflation figure for December 2009 was 2.9%, compared with 1.9% in November, implying an annualised inflation rate of 12% – representing the sharpest UK inflation increase in a generation.
And of course this development is based entirely on the massaged official numbers, which often appear to bear little relationship to anecdotal evidence of raging inflation, in a country where a daily newspaper now costs £1.0, so that a week’s supply of daily newspapers would cost the full value of the weekly wage of a Red Cap (porter) on British Railways in the 1950s.
OBVIOUS STRAINS IN THE BRITISH BUILDING SOCIETY SECTOR
That distress continues apace in the UK financial sector was reconfirmed when Skipton Building Society, which has 100,000 mortgage clients, announced on 21st January 2010 that it was invoking an ‘exceptional circumstances’ clause written into its contracts since 2002 (indicating that the building society had indeed anticipated the severe risks that were being run).
Under its mortgage terms, Skipton Building Society had ‘guaranteed’ that its Standard Variable Rate (SVR), a floating rate to which all these mortgages would revert, would never exceed three points above the Bank of England’s Base Rate (0.5% when the announcement was made).
The building society decided that it could no longer honour that explicit guarantee (i.e., that it was worthless), and that it would be raising its SVR from 3.5% to 4.95%, an increase of 41.4% – adding an estimated £157 to the monthly cost of a £130,000 interest-only mortgage (the UK national average). For clients on a repayment schedule, the cost will rise by about $105 per month.
Since the so-called mutual movement in Britain prides itself on treating customers fairly, this development reveals extreme stress in this sector. Skipton said that it had been compelled to invoke the ‘exceptional circumstances’ clause because of the ‘distortion’ induced by massive competition for retail deposits from the banks, which had pushed up the cost of funding, and was threatening to destroy profits.
In other words, Skipton's business model had been severely eroded, not least given that, with the relative continuing paralysis in the wholesale markets because the clandestine offshore sector has effectively been ‘shut out’ for on-balance sheet purposes, building societies could no longer rely on the wholesale market funding arrangements to which they had been accustomed (as had indeed occurred in the case of Northern Rock).
This assessment was confirmed by the firm’s Chief Executive, David Cutter, who explained that ‘UK savers are in hot demand as banks continue to reduce their reliance on the wholesale markets. This, coupled with rates payable by National Savings & Investments (NS&I), has driven up the cost of funding to an unprecedented level’.
A larger UK building society competitor, Nationwide, countered this development by assuring its members that its SVR mortgages carried a guarantee of 2% above the Bank of England’s Base Rate. ‘That’s part of the mortgage deal’, the institution proclaimed, ‘and we’ll stick to it’. However Nationwide has revealed in its accounts that this guarantee has so far cost it £450 million: in other words, the identified problem faces the entire mortgage sector, indicating that severe stress is present throughout the sector. British building societies have experienced net withdrawals for each of the past 11 months. In November, NS&I offered a one-year fixed savings account at 3.95%, whereas Skipton had been offering instant access deposit accounts at 3.6%.
BUSINESS MODELS HAVE BEEN TRASHED BY THE CORRUPT INCOMPETENTS IN CHARGE
With interest rates having been driven to depression levels on both sides of the Atlantic, financing business models have been effectively trashed – with the only financial entities benefiting from what has happened being the huge criminal financial enterprises referred to by President Obama in his presentation of Paul Volcker’s proposals on 21st January.
We note that George Soros was quick to point out, correctly, what we have been suggesting for months – namely, that Goldman Sachs won’t exist in its present form (if the Volcker proposals are implemented). But there is another reason why they won’t exist, which nobody talks about, with the single exception of this service.
It is that institutions such as Goldman Sachs have grown obese and complacent in the context of the disastrous one-way financing bonanza orchestrated by the US Treasury Department and the Federal Reserve for almost a whole century – which presupposes open-ended deficit-financing and therefore the one-way accumulation of Treasury debt which is always ballooning and can therefore never be repaid, so that US taxpayers are on an escalator leading to destitution.
OBAMA INCURS MORE DEBT IN 2 YEARS THAN HAS BEEN INCURRED IN A CENTURY
According to the Office of Management and Budget OMB), the Debt Subject to Statutory Limit was projected to have risen by about $2.9 trillion between Fiscal Years 2008 and 2009 (ending on 30th September), and by a further $1.6 trillion during Fiscal Year 2010 – from some $9,959,850 million, to $14,432,892 million over the period. These numbers are simply, of course, those presented for public consumption, and do not reflect the even worse real situation.
Thus in the space of two Obama years, US taxpayers will have been burdened, on the basis of these published data alone (which obfuscate the true underlying state of affairs), by an additional $4.5 trillion of Treasury debt.
By contrast, it took the US Treasury and the US Federal Reserve 81 years – from 1913 to 1994 – to accumulate $4.6 trillion of Gross Federal debt. If one uses one of the OMB’s favourite ‘smoke and mirrors’ tricks (which for many years we have disputed and ‘corrected’), namely modification of the Gross Federal Debt as reported by offsetting ‘Debt Held by Government Accounts’, it took from 1913 to 2005, or 92 years, for this perverse one-way deficit-financing ‘system’ to accumulate a total $4.5 trillion of Treasury ‘background debt’.
The fact that the Obama Administration will have incurred the same volume of official debt that took 81 or 92 years for the deficit financing carousel to incur (depending on the debt computation), is a measure of the extreme tensions and distortions that are threatening the residual integrity of the US dollar and of the international financial system generally.
THE NOTION THAT THE CRISIS AND RECESSION ARE OVER IS DIVERSIONARY GARBAGE
In short, the prevailing sense of ‘it’s over’ is absolutely false – and fraudulent, to boot. The British authorities’ so-called ‘Quantitative Easing’ (money printing) binge ends in February, according to reports: and inflation in Britain is rising sharply.
The same will soon be happening in the United States, where the US Treasury, under Paulson and subsequently Geithner, and the Federal Reserve under Bernanke, have deliberately adopted the policies of the reckless gambler, on the assumption that short-termism, self-interest and routine changes of personnel in Government, the media and the financial institutions will be quite enough to obfuscate matters and rescue their tattered reputations.
Never in financial history have such obtuse policies been tolerated by a complacent ‘mainstream’ Fourth Estate which has simply failed to do its job to hold reckless governments on both sides of the Atlantic to account.
SOUND SOLUTION WAS AGREED UPON 4 YEARS AGO, BUT SABOTAGED BY WASHINGTON
These failures are all the more irresponsible given that the solution to this crisis was agreed upon by the Group of Seven financial powers in June 2006 and the same month a year later – when The Queen urged the assembled financial egg-heads to do what is right ‘for the sake of the whole of humanity’. The corrupt Bush Administration, with its President and Vice President who were busily enriching themselves on the side and who regarded the privilege of holding highest offices as an open invitation to line their own pockets and bank accounts, refused to comply – and the Paulson, Geithner, Bernanke cabal has continued this self-interested TERRORIST obstruction ever since.
The problem with their obstructive tactics is that they have simply piled up much worse problems for the future – and not the future, as some assume, way ahead, but the future uncomfortably close at hand. After all, if it takes just two years for the Geithner-Obama régime to accumulate as much Treasury debt in two years, as the US Treasury incurred in not far short of a century, how long will it take these irresponsible characters to incur a further $4.5 trillion of unnecessary indebtedness?
The way forward, as indicated, was spelled out by the Group of Seven Financial Powers in 2006 and 2007 – namely, organising a straightforward, fully transparent and comprehensively taxed trading operation on the books, using trustworthy institutions and the $6.2 trillion of sovereign loan funds that have been provided for the purpose.
Since this scheme was ignored and therefore rejected out of hand, arrangements have been made for this transparent, fully taxable on-the-books trading activity to take place out of London. Under the Bretton Woods arrangements, taxes falling due (at 35%) to the US Treasury will be paid to the British Treasury, for onward transmission to its US counterpart.
At the same time, foreign funds that are resident in the British jurisdiction for over 24 hours are taxable in the United Kingdom. This means that the UK Treasury will receive windfall tax accruals, too. The British authorities know all about this, as does the US Treasury.
It is time for both institutions to cease playing games with taxpayers, to cease covering up corrupt financial practices, and to sit back and enjoy the cascade of tax revenues that will be falling into their coffers, in exchange for no effort on their part whatsoever.
THE SITUATION WILL BE TRANSFORMED WHEN THESE FOOLS ARE FORCED TO COMPLY
Furthermore, the strained relations between financial powers, all the tiresome negotiations at international fora, the lobbying by representatives of competing banking sector interests, and all the convoluted fixes and fudges, back-of-envelope ‘solutions’ and rhetorical what-have-you that these endlessly confused operatives continue to pontificate about and devise, can then be largely consigned into the trash. The solution has been staring these people in the face for FOUR YEARS.
But no. They seem to prefer Fraudulent Finance business as usual, in supine deference to the overwhelming arrogance of corrupt intelligence powers that are telling their Governments what to do, instead of serving the people – and, in the case of MI-6, the Monarch.
NEW LIES FOR OLD: AN OLD WANTA LIE RECYCLED
In the second half of January 2010, we learned from several notorious sources within the corrupt Intelligence Power that the old Wanta lie was again being put about that the British Monarchical Power does not own the $6.2 trillion loan furnished by the Bank of England on 19th-20th June 2007 that remains resident within Citibank, and that The Queen has signed an Affidavit to that effect.
This suggestion was first alluded to by the discredited felon, serial money thief, Financial Terrorist and deceiver, who, to this day, answers the phone with ‘GUTEN TAG’, Leo Wanta, in an unscripted conversation that took place with a colleague of the Editor’s on 12th January 2010. The Editor had no prior knowledge that this contact was going to be made.
In this conversation, Wanta – his irritated voice verging on the threshold of anger, such that if the questioner were to query any of the words that he was making up as he went along, Wanta would immediately resort to a shouting match (as he did on 6th March 2008 when Wanta telephoned this Editor), uttered a number of lies, including the following (and we have to summarise these lies in order to get to the main lie here):
• ‘The Principality of Snake Hill is in secession from the Commonwealth of Australia. Premier Rudd has signed off on the secession’. As previously publicised, this is a lie. We repeat our authority for confirming it to be a brazen fabrication:
That there is no such thing as The Principality of Snake Hill was CONCLUSIVELY PROVED in our reports dated 20th September, 22nd October and 17th November 2009 [see ARCHIVE], following our initiative in obtaining succinct and direct confirmation from the Australian Embassy in Dublin that of course there are no Principalities in Australia:
Specifically, Ms. Brenda Farrell, of the Australian Embassy in Dublin, confirmed on 23rd September 2009 to one of the Editor’s private associates, Richard Sharpe, from Ireland, the self-evident fact that there is no Principality in Australia:
"Austremb Dublin" <Austremb.Dublin@dfat.gov.au> wrote:
Dear Mr Sharpe,
Thank you for your email.
There is no principality in Australia.
Kind regards
Australian Embassy
Dublin
Tel: +353 (0) 1 664 5300
Fax: +353 (0) 1 678 5185
The discredited operative continued, in the telephone conversation dated 12th January 2010:
• ‘It will be possible to prove that The Principality of Snake Hill exists because the United Nations has given it an IAD’. Enquiries at the United Nations in New York on 12th January reconfirmed that this assertion is also a fabrication. There is no IAD for this fake virtual entity. Nothing shows up on the UN's screens for the Principality of Snake Hill. And the Snake Hill website is collapsing.
• ‘The Central Bank of Snake Hill has a SWIFT Code’. Extensive relevant searches have confirmed that this statement is likewise a Wanta invention and without foundation. The SWIFT Code exists solely in the mind of Wanta. At the same time, however, Wanta’s clumsy allusion to the SWIFT Code reconfirms that the intention had indeed been to siphon stolen funds out to the CIA in Australia via the closed Federal Reserve Inter Bank Settlement Fund and into the virtual Central Bank of Snake Hill, from whence it could be further stolen by the corrupt US-DVD Intelligence Power that thinks it controls Australia (and which, by the way, in subversive de facto collaboration with Mr Malcolm Turnbull, is specifically behind the campaign to abolish the Monarchy in Australia).
• ‘The Queen has signed an Affidavit denying ownership of the $6.2 trillion loan funds’. On being asked whether he had seen the Affidavit, Wanta stated that he was ‘going to get a copy’.
As indicated above, the aforementioned lies fed to our associate by Wanta have been exposed (both earlier by this service, and herewith). The rest of the reported conversation consisted of veiled legal threats and moral blackmail against the Editor of this service, from whom (to cite the least of his problems) Wanta has stolen the $35,000 loan plus interest that the Editor provided to assist him out of his difficulties in June 2005. For this theft alone, the Editor is in a position to have this operative investigated and charged with outright theft. And as we reiterated in the preceding report, Wanta has stolen other monies, and has entered into colossal documented undertakings without having the financial resources to meet them – an offence called Fraud in the Inducement. He remains a felon and therefore cannot own a bank account.
In view of the above, Wanta’s further assertion in his conversation with our contact, that the Editor will be ‘very embarrassed’, and is ‘embarrassing The Queen’, are being treated as typically devious Wanta fabrications – not least because if these statements were accurate, the Editor of this service would most certainly have known about this by now. For instance, Thames Valley Police would long since have been instructed to pay us a visit.
LIKELY CIA OPERATION TO DOUBLE-CROSS THE BRITISH MONARCHICAL POWER
On 25th January, we were advised by contacts that 'Black' CIA sources were circulating, in parallel, the convenient assertion about the British Monarchical Power outlined above. We perceive that this device is being used to drive a wedge, and almost certainly involves a typically cack-handed CIA-DVD operation to double-cross and deceive the British Monarchical Power.
• ROY GRANTHAM, the former securities chief of NATWEST BANK who has returned to the United Kingdom should contact the Editor of this service without any further ado, to confirm or deny the foregoing. We will ultimately be able, as has been the case hitherto, to identify the source of ANY DECEPTION. The REFUSAL of US authorities to release the funds (CONFIRMED TO US ON 26TH) is causing chaos worldwide, inside the Beltway, at the White House itself (where they can't get rid of Rahm Emanuel) and in the world's financial capitals. Continued escalation of tension is expected.
• Any deception that we smell, WE WILL EXPOSE. This situation is completely OUT OF CONTROL and Mr ROY GRANTHAM NEEDS TO GET IN TOUCH WITH US RIGHT NOW.
• Will the on-the-books Dollar Refunding take place as demanded by the Group of Seven Financial Powers in 2006 and 2007 and commended by The Queen herself when the G-7 were informed that it needed to be implemented ‘for the sake of the whole of humanity?’
• If our sense that a devious deception, masterminded or disseminated by a felon and a crook who has stolen money belonging to this Editor and to others and cannot even own a bank account, is being perpetrated against The Queen on behalf of the Bush-Clinton Crime Syndicate within the US Intelligence Power, is correct, what immediate measures do the relevant authorities in London intend to take, to procure rectification of this state of affairs?
Certain other developments of which we are aware, indicate clearly to us that the US criminal cadres are indifferent to the fact that Wanta is a crook, a felon and a serial money thief. Indeed, we sense that his criminal mind has resonance within the comparably criminalised US structures and that an operation against the British Monarchical Power is being attempted.
Moreover if what is being subversively alleged is true, why has it taken these people so long to develop this latest wheeze? After all, we have been very openly publicising the Dollar Refunding Programme and the straightforward intended mechanism underlying it, for a long time – a simple consideration which indicates that this is just another slither, thought up by the criminal mind of the bruised and cornered serpent. Since what we began reporting 18 months ago on this subject was not challenged then, there can be no basis for challenging it now.
And the only party who is attempting to do so is a comprehensively discredited felon, serial thief and notorious Financial Terrorist who employs the standard DVD George Bush Sr. 'bait and switch' technique of double-crossing and deceiving his targets and associates.
The purpose of this exposure is to bare these findings for ‘the interested’ to see for themselves, given that our reports appear to have the power to cause criminal 'Black operations' to be aborted.
WELCOME TO THE INTENDED ACCELERATING SLIDE TOWARDS GLOBAL FINANCIAL CHAOS
Now for the broader implications of these latest twists of the serpent.
As indicated above, since we have ‘blown’ successive attempts by the Treasury and the Federal Reserve to perpetuate the Fraudulent Finance derivatives carousel, the football has been thrown partly into the hands of the FDIC. According to reports, the FDIC is now contemplating securitising fraudulent assets that have previously been securitised assets, both to dump its failed 'assets' into the market, and also to reignite the moribund and decadent securitisation carousel.
In other words, the US official intent (the latest serpentine slither) is to fraudulently re-securitise dud assets that have no underlying value, and to flood the marketplace with these revamped dud previously securitised assets as though they do possess value – which is OUTRIGHT FRAUD.
Moreover this plan has been leaked despite the fact that the head of the FDIC, Sheila Bair, has explicitly called for tighter regulation of the securities industry (which makes us suspect that this wheeze has been hurriedly dumped on Ms. Bair by the US Treasury and the White House).
That would be consistent with the parallel criminal intent, that we perceive, of the Bush-Clinton-CIA-DVD Syndicate to crucify President Barack Obama ‘by other means’ (to cite Lenin) – the operation to replace him with Mrs Hillary Jezebel Clinton having evidently been blown out of the water by this service [see our report dated 20th January 2010]. The method that is now being adopted by default is to pump up the derivatives balloon, using the FDIC for the purpose, in order to destroy the US dollar system and all that accumulated derivatives detritus in the process.
• In their rage, they may reason that this would be another way of displacing Barack Obama.
Meanwhile operations are reportedly far advanced to lay hands on every source of gold that can be identified – one of which is Haiti. With a new metals-based means of exchange, the enemies of the United States, represented by the serpents surrounding Obama, and assisted by the criminal mind resident in Chippewa Falls, are seeking a way round the Dollar Refunding, to ‘do it their way’ – and at the same time, to acquire real assets at firesale prices, following the immense crash that will inevitably be taking place much sooner than you think. Next year, we predict.
• This is the logical conclusion from the way these snakes are behaving. Watch for the next slither.
FINALLY, PLEASE MARK THESE DEVELOPMENTS AND WARNINGS
We learned on 25th January that with the prospects for Dr Ben Bernanke being reconfirmed by the Legislative Branch suddenly uncertain due to belated and overdue qualms entertained by key US legislators in the face of the shambles over which this Federal Reserve Chairman has presided, a scheduled meeting in Hong Kong between US Federal Reserve officials and a Chinese group that works with the Bush Crime Syndicate had been abruptly cancelled ‘indefinitely’. INTERESTING.
Finally, all that talk of economic recovery is bunk: more official lies. If there is a recovery in the United States, why is it that in late January, Wall-Mart, which traditionally pays their unskilled workers as little as it can get away with, has announced 11,200 redundancies? And why is Sam’s Corporation also laying off thousands of employees?
As for the British Monarchical Power: if it has yet again been double-crossed, in a reprise of the double-cross operations perpetrated against it earlier by the Godfather, George Bush Sr., it needs to be aware that any such development is no accident, and could have fatal consequences if not addressed. (We believe it is being addressed). We can tell by the virulence of the hatred poured out by repulsive controlled CIA-DVD cult websites against The Queen, that the impact of the Lien and the Refunding Programme is anathema to these subversive, criminal operatives.
• Further drastic measures may be indispensable. Hopefully they're 'in the pipeline'.
LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:
LEGAL TUTORIAL: The Steps of Common Fraud:
Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.
Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:
• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.
• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.
Step 3: Theft by Deception and Fraudulent Conveyance:
THEFT BY DECEPTION:
• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.
• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.
• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.
Source: Black, Henry Campbell, M.A., 'Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.
FRAUDULENT CONVEYANCE:
• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.
• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.
Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary', Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.
U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:
• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.
U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:
• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.
• BEWARE OF MALICIOUS IMITATIONS: It has come to our notice that certain websites have been in the habit of copying reports from this site, attributing the reports to the Editor of this service, but at the same time AMENDING AND INSERTING TEXT NOT WRITTEN BY THE EDITOR.
• This is a very old, malevolent US counterintelligence DIRTY TRICK.
Therefore, you should be advised that the GENUINE ORIGINAL REPORT is, by obvious definition, accessible ONLY FROM THIS WEBSITE. If you come across an article elsewhere that is attributed to the Editor of this service, you should refer to the ORIGINAL ARTICLE HERE and you should bear in mind that the illegally duplicated article may contain text that was NOT written by the Editor of this service, but which was inserted for malicious purposes by counterintelligence.
Likewise, although we haven't yet had time to elaborate this issue, we have taken drastic steps around the world to close off the malicious piracy of our books. One technique used by several disreputable sites (in the United States, the Netherlands and Switzerland) is to copy our title(s) and (a) to display an image of the front cover WITHOUT THE ISBN DATA at the top of the cover; and (b) to DELETE THE COPYRIGHT PAGE. In so doing, the criminal pirates proclaimed that they knew perfectly well that they were/are engaged in theft and can be prosecuted for stealing copyright.
• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.
We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.
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NON-U.S. INTERNET SECURITY SOLUTION CD AVAILABLE: FAR BETTER THAN NORTON ETC
It has now been established that the National Security Agency (NSA) works with/controls Microsoft, Norton, McAfee, and others, in pursuit of the Pentagon's vast BIG BROTHER objective, directed from the 'highest' levels (not the levels usually referred to) which seek to have every computer in the world talk direct to the Pentagon or to NSA's master computers.
This should come as no real surprise since the cynical spooks even assert this 'in-your-face' by advertising 'INTEL INSIDE', which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the 'fully collaborating' firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable 'file and printer sharing' under any circumstances. If you say 'YES', so to speak, to 'file and printer sharing', your computer becomes a slave at once to NSA's master computers. DO NOT ENABLE SHARING.
Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton 'Box Gang' and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.
We use a proprietary FOREIGN Internet Security program which devours every PC Trojan, worm, scam, porn attack and virus that the National Security Agency (NSA) throws at us. We are offering this program (CD) to our clients and friends, at a premium. The program comes with our very strong recommendation, but at the same time, if you buy from us, you will be helping us finance ongoing exposures of the DVD's World Revolution and the financial corruption that has been financing it.
The familiar US proprietary Internet Security programs are by-products of US counterintelligence, and are intended NOT to solve your Internet security problems, but to spy on you and to report what you write about, to centralised US electronic facilities set up for the purpose. You can now BREAK FREE from this syndrome while at the same time helping us to MAINTAIN THE VERY HEAVY PRESSURE UPON THE CRIMINALISTS WE HAVE BEEN EXPOSING, by ordering this highest quality FOREIGN (i.e., non-US) INTERNET SECURITY SOLUTION that we have started advertising on this website. This offer has been developed in response to attacks we have suffered from the NSA nerds who appear to have a collective mental age of about five years, judging by their output.
• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.
The premium contains a donation for our exposure work and also covers our recommendation based on the Editor's own experience that this INTERNET SECURITY SOLUTION will make your Internet life much easier. The program has an invaluable 'Preview before downloading' feature.
• It is suitable for PC's but not Mac computers. As with all such programs, the License is renewable at a modest fee annually. This is done on-line in the usual way [with the supplier direct].
*VISTA: Virtual Instant Surveillance Tactical Application.
