Not Just Another Release

[zdo 20]

Click here for details

http://disquietreservations.blogspot.com/2011/08/debt-crisis-is-trojan-horse-to-cause.html

[Tradewinds 12]

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

Henry Ford Quotes - BrainyQuote

[zdo 20]

Is the debt ceiling deal supposed to be some sort of a cruel joke? Is this what the American people have been waiting months and months for? The "debt ceiling deal from hell" is a complete and total fraud. Barack Obama will not need to worry about the debt ceiling again until after the 2012 election, and no "real" spending cuts will happen until after the 2012 election. The way the political game in Washington D.C. is played today, if you don't get something right now, you probably will never end up getting it. The Republicans have traded a massive debt ceiling increase right now for the possibility of very skimpy budget cuts in the future. Meanwhile, this deal establishes a new "Super Congress" that threatens to fundamentally alter our political system (and not in a good way). The funny thing is that everyone is running around proclaiming that the Tea Party won this battle. That is a complete and total lie.

 

So what about the $917 billion in "immediate" spending cuts that the Republicans are getting as part of this deal?

 

Well, they aren't really spending cuts at all. Rather, they are spending caps. Basically what is happening is that future spending increases are being cancelled and our politicians are selling that to us as "spending cuts".

 

What is even sadder is that the $917 billion is spread over ten years and the vast majority of the "cuts" are in the latter years.

 

For example, even if you consider these to be "spending cuts" (which they are not), the deal calls for only about $25 billion in "cuts" in 2012 and only about $47 billion in "cuts" in 2013.

 

25 billion dollars is far less than one percent of the federal budget, so needless to say these "cuts" are not very impressive at all.

 

Okay, so how about the second stage of the deal which will produce "spending cuts" of between 1.2 and 1.5 trillion dollars?

 

Well, yes, these would actually be spending cuts and they would be spread over 10 years.

 

Near the end of the year, the new "Super Congress" (more on that in a minute) will submit a proposal to Congress which could cut spending over the next 10 years by a total of up to 1.5 trillion dollars.

 

If the recommendations of the "Super Congress" are not implemented, than "automatic" spending cuts of $1.2 trillion will go into effect over the next 10 years.

 

However, there are some very important things to remember about these "spending cuts".

 

First of all, none of these "automatic" spending cuts would even go into effect until 2013. The face of American politics will be dramatically different by then, and there is absolutely nothing that makes these cuts binding on Congress.

 

As Gregg Easterbrook recently noted, Congress can cancel spending cuts at any time and for any reason....

 

By projecting the only tangible savings — which aren’t even specified, but are merely caps — into the future, the plan allows Congress to cancel them. In 2012 or any future year, Congress will say, “We can’t have caps this year because of the [iNSERT ANY WORD CHOSEN AT RANDOM] crisis. We are postponing action till next year.” Rinse and repeat.

 

As I have written about so many times before, the U.S. national debt is completely and totally out of control. This was supposed to be the moment when at least some members of Congress were finally going to get serious about our exploding debt. Unfortunately, our politicians have sold us down the river once again.

 

Even if the best case scenario happens (which it never does) and Congress sticks to this deal for the full ten years (which is about as likely as hell freezing over), the "savings" that this deal would produce are quite pathetic as Peter Schiff recently explained....

 

The Congressional Budget Office currently projects that $9.5 trillion in new debt will have to be issued over the next 10 years. Even if all of the reductions proposed in the deal were to come to pass, which is highly unlikely, that would still leave $7.1 trillion in new debt accumulation by 2021. Our problems have not been solved by a long shot.

 

Keep in mind that Congress can change this deal whenever it wants.

 

So nobody should get excited about these "spending cuts". After all, when was the last time that "future spending cuts" actually materialized in Washington?

 

The reality is that neither political party seems to want to do much to cut government spending.

 

So the band will play on and the can will get kicked even farther down the road.

 

When Obama was inaugurated, the U.S. national debt was $10,626,877,048,913.08.

 

Today, it is $14,342,358,440,969.10.

 

But what this "debt ceiling deal" will do is it will give the congressional leadership of both parties much more power.

 

The new "Super Congress" that this deal establishes will be granted "extraordinary new powers" that regular members of Congress do not possess.

 

For example, The Huffington Post says that any new legislation produced by the "Super Congress" will not be able to be filibustered or amended....

 

Under the reported framework, legislation the new congressional committee writes would be fast-tracked through Congress and could not be filibustered or amended.

 

So who will be a part of the "Super Congress"?

 

The members will be chosen by the leadership of both parties.

 

So anyone that is not part of the "establishment" is not likely to be included.

 

The following is what U.S. Representative Ron Paul had to say about this new "Super Congress"....

 

"Nothing more than a way to disenfranchise the majority of Congress by denying them the chance for meaningful participation in the crucial areas of entitlement and tax reform. It cedes power to draft legislation to a special commission, hand-picked by the House and Senate leadership."

 

It is this new "Super Congress" that will decide what will be in the package of "spending cuts" that will be voted on by the end of the year.

 

Regular members of Congress will be frozen out of the process.

 

On December 23rd, Congress will be required to vote up or down on the spending cuts proposed by the "Super Congress". Regular members of Congress will not be allowed to amend the legislation in any way, and no filibusters will be permitted.

 

Does that sound very "American" to you?

 

The more that one examines this "debt ceiling deal", the worse it looks.

 

Meanwhile, many Democrats are running around and acting as if their lunch money was just stolen.

 

For example, the following is what Politico is reporting that U.S. Representative Mike Doyle said about this deal....

 

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.”

 

Democratic congressman Emanuel Cleaver was even more dramatic when he proclaimed that this deal "looks like a Satan sandwich".

 

Well, this deal is a total nightmare, but not for the reasons that Cleaver is suggesting.

 

This deal opens the door for more rampant deficit spending, and nearly all of the "spending cuts" are put off until after the 2012 election.

 

Basically, the Republicans got taken out behind the woodshed and beaten to a pulp on this one. Any Republican that is trying to proclaim that the debt ceiling deal is a "great victory" is a complete moron.

 

But in the end, it really does not matter which political party gets a "victory" out of all this. What matters is that our federal government is still steamrolling toward a date with financial oblivion.

 

If this is the best that our politicians can come up with, we are absolutely doomed.

 

Michael Snyder

[ahimsa 10]

Is the debt ceiling deal supposed to be some sort of a cruel joke? Is this what the American people have been waiting months and months for? The "debt ceiling deal from hell" is a complete and total fraud. Barack Obama will not need to worry about the debt ceiling again until after the 2012 election, and no "real" spending cuts will happen until after the 2012 election. The way the political game in Washington D.C. is played today, if you don't get something right now, you probably will never end up getting it. The Republicans have traded a massive debt ceiling increase right now for the possibility of very skimpy budget cuts in the future. Meanwhile, this deal establishes a new "Super Congress" that threatens to fundamentally alter our political system (and not in a good way). The funny thing is that everyone is running around proclaiming that the Tea Party won this battle. That is a complete and total lie.

 

So what about the $917 billion in "immediate" spending cuts that the Republicans are getting as part of this deal?

 

Well, they aren't really spending cuts at all. Rather, they are spending caps. Basically what is happening is that future spending increases are being cancelled and our politicians are selling that to us as "spending cuts".

 

What is even sadder is that the $917 billion is spread over ten years and the vast majority of the "cuts" are in the latter years.

 

For example, even if you consider these to be "spending cuts" (which they are not), the deal calls for only about $25 billion in "cuts" in 2012 and only about $47 billion in "cuts" in 2013.

 

25 billion dollars is far less than one percent of the federal budget, so needless to say these "cuts" are not very impressive at all.

 

Okay, so how about the second stage of the deal which will produce "spending cuts" of between 1.2 and 1.5 trillion dollars?

 

Well, yes, these would actually be spending cuts and they would be spread over 10 years.

 

Near the end of the year, the new "Super Congress" (more on that in a minute) will submit a proposal to Congress which could cut spending over the next 10 years by a total of up to 1.5 trillion dollars.

 

If the recommendations of the "Super Congress" are not implemented, than "automatic" spending cuts of $1.2 trillion will go into effect over the next 10 years.

 

However, there are some very important things to remember about these "spending cuts".

 

First of all, none of these "automatic" spending cuts would even go into effect until 2013. The face of American politics will be dramatically different by then, and there is absolutely nothing that makes these cuts binding on Congress.

 

As Gregg Easterbrook recently noted, Congress can cancel spending cuts at any time and for any reason....

 

By projecting the only tangible savings — which aren’t even specified, but are merely caps — into the future, the plan allows Congress to cancel them. In 2012 or any future year, Congress will say, “We can’t have caps this year because of the [iNSERT ANY WORD CHOSEN AT RANDOM] crisis. We are postponing action till next year.” Rinse and repeat.

 

As I have written about so many times before, the U.S. national debt is completely and totally out of control. This was supposed to be the moment when at least some members of Congress were finally going to get serious about our exploding debt. Unfortunately, our politicians have sold us down the river once again.

 

Even if the best case scenario happens (which it never does) and Congress sticks to this deal for the full ten years (which is about as likely as hell freezing over), the "savings" that this deal would produce are quite pathetic as Peter Schiff recently explained....

 

The Congressional Budget Office currently projects that $9.5 trillion in new debt will have to be issued over the next 10 years. Even if all of the reductions proposed in the deal were to come to pass, which is highly unlikely, that would still leave $7.1 trillion in new debt accumulation by 2021. Our problems have not been solved by a long shot.

 

Keep in mind that Congress can change this deal whenever it wants.

 

So nobody should get excited about these "spending cuts". After all, when was the last time that "future spending cuts" actually materialized in Washington?

 

The reality is that neither political party seems to want to do much to cut government spending.

 

So the band will play on and the can will get kicked even farther down the road.

 

When Obama was inaugurated, the U.S. national debt was $10,626,877,048,913.08.

 

Today, it is $14,342,358,440,969.10.

 

But what this "debt ceiling deal" will do is it will give the congressional leadership of both parties much more power.

 

The new "Super Congress" that this deal establishes will be granted "extraordinary new powers" that regular members of Congress do not possess.

 

For example, The Huffington Post says that any new legislation produced by the "Super Congress" will not be able to be filibustered or amended....

 

Under the reported framework, legislation the new congressional committee writes would be fast-tracked through Congress and could not be filibustered or amended.

 

So who will be a part of the "Super Congress"?

 

The members will be chosen by the leadership of both parties.

 

So anyone that is not part of the "establishment" is not likely to be included.

 

The following is what U.S. Representative Ron Paul had to say about this new "Super Congress"....

 

"Nothing more than a way to disenfranchise the majority of Congress by denying them the chance for meaningful participation in the crucial areas of entitlement and tax reform. It cedes power to draft legislation to a special commission, hand-picked by the House and Senate leadership."

 

It is this new "Super Congress" that will decide what will be in the package of "spending cuts" that will be voted on by the end of the year.

 

Regular members of Congress will be frozen out of the process.

 

On December 23rd, Congress will be required to vote up or down on the spending cuts proposed by the "Super Congress". Regular members of Congress will not be allowed to amend the legislation in any way, and no filibusters will be permitted.

 

Does that sound very "American" to you?

 

The more that one examines this "debt ceiling deal", the worse it looks.

 

Meanwhile, many Democrats are running around and acting as if their lunch money was just stolen.

 

For example, the following is what Politico is reporting that U.S. Representative Mike Doyle said about this deal....

 

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.”

 

Democratic congressman Emanuel Cleaver was even more dramatic when he proclaimed that this deal "looks like a Satan sandwich".

 

Well, this deal is a total nightmare, but not for the reasons that Cleaver is suggesting.

 

This deal opens the door for more rampant deficit spending, and nearly all of the "spending cuts" are put off until after the 2012 election.

 

Basically, the Republicans got taken out behind the woodshed and beaten to a pulp on this one. Any Republican that is trying to proclaim that the debt ceiling deal is a "great victory" is a complete moron.

 

But in the end, it really does not matter which political party gets a "victory" out of all this. What matters is that our federal government is still steamrolling toward a date with financial oblivion.

 

If this is the best that our politicians can come up with, we are absolutely doomed.

 

Michael Snyder

 

HI ,how can i try more information of this american supercongress,today also in italy are riunited in a special super congress,but i try to search the american debate and i don't found,it.thanks in advance.

[zdo 20]

HI ,how can i try more information of this american supercongress,today also in italy are riunited in a special super congress,but i try to search the american debate and i don't found,it.thanks in advance.

 

ahimsa

That term will not be found much in mainstream media.

SuperCongress is a term coined by the fringe media who are (justifiably) a little apprehensive about its implications. Slippery slope – starts as a ‘commision’ to pre-reconcile “cuts” and dealing with the debt… then gets used for something else… in a few years…

What kind of supercongress is happening in Italy?

[ahimsa 10]

ahimsa

That term will not be found much in mainstream media.

SuperCongress is a term coined by the fringe media who are (justifiably) a little apprehensive about its implications. Slippery slope – starts as a ‘commision’ to pre-reconcile “cuts” and dealing with the debt… then gets used for something else… in a few years…

What kind of supercongress is happening in Italy?

 

 

Yes,:: i try to search the news in generally not the term on the news that arrive in continuos,especially on google news i throw an eye ever.In Italy yesterday are riunited all the government exponent live on tv from senate,for talking about the economic crisis.

[zdo 20]

maybe this one is just another (generic trade) release

The Excavator: Whether It Is The Terror Crisis Or The Debt Crisis, The Solution Is Always A Super Dictatorship

Edited August 4, 2011 by zdo
think Barrack ObLenin

[SIUYA 11]

But in the end, it really does not matter which political party gets a "victory" out of all this. What matters is that our federal government is still steamrolling toward a date with financial oblivion.

 

zdo - as an outsider - (ie; not from the US), I think when you look beyond the politics, as too much of it muddled with ideology and political grandstanding this comment is the key.

 

Too much blame on Obama, or the republicans etc; when this has had a long history from all sides. Its simple, you dont fix a debt problem with more debt.

The other day I went to a conference and it was bullish the US and two interesting stats came up - 1 - the inefficiencies of the US health care (note inefficiencies not absolute expense or who the money is spent on - in other words too much is spent poorly) compared to other countries,

and 2 - the low low REAL tax rates paid by certain people in the US (and this really covers people who can structure themselves to avoid paying it - ie the rich and corporations)

It was fascinating to see that the US could solve a lot of its problems relatively easy if the political will was there....

 

So ...not to get into a debate about taxes, health care etc, it was more a point that neither party wants to get away from losing power or more the point they dont want to piss off their real customers, so they wont do what is required.....

 

It seems that the US already has a super congress and has had it for a while - corporate America.....

[zdo 20]

What happens if you click Ignore this user on yourself ?

 

 

Word cloudlet

“…threats to consciousness…” hm…

[ame=http://www.youtube.com/watch?v=Peu7eeGtmQ4&feature=player_embedded]‪Simon Lewis: Don't take consciousness for granted‬‏ - YouTube[/ame]

 

little wtf of a cloud

mind location

ANANDA'S SEARCH FOR THE MIND IN SEVEN LOCATIONS1

[zdo 20]

$0.59

 

"The only thing we can really be sure of is that the government will use each new crisis to justify further extensions of its power."

The US economy still needs to recover from the festering malinvestments that accumulated during the previous two booms. By pushing interest rates down to zero and bailing out the very people who made such bad financial decisions in the first place, the Fed and Treasury are doing everything they can to exacerbate the problem.

 

In this volatile world economy, investors can expect continued volatility in the stock market. The only thing we can really be sure of is that the government will use each new crisis to justify further extensions of its power. At some point the feds will probably seize the highly volatile 401(k)s and other stock-market holdings from citizens and replace them with "safe" government annuities.

 

Knowledge of Austrian economics doesn't render someone an expert investor, but it certainly gives advance warning of the major trends in the economy. Those investors who rely on the Keynesians featured at CNBC think that another stimulus package or QE3 might do the trick.

Mises

[zdo 20]

“Each big inflation — whether the early 1920s in Germany, or the Korean and Vietnam wars in the US — starts with a passive expansion of the quantity money. This sits inert for a surprisingly long time. Asset prices may go up, but latent price inflation is disguised. The effect is much like lighter fuel on a camp fire before the match is struck.

People’s willingness to hold money can change suddenly for a “psychological and spontaneous reason” , causing a spike in the velocity of money. It can occur at lightning speed, over a few weeks. The shift invariably catches economists by surprise. They wait too long to drain the excess money.

“Velocity took an almost right-angle turn upward in the summer of 1922,” said Mr O Parsson. Reichsbank officials were baffled. They could not fathom why the German people had started to behave differently almost two years after the bank had already boosted the money supply. He contends that public patience snapped abruptly once people lost trust and began to “smell a government rat”.

Chapter 17 entitled “Velocity” From the book Dying of Money: Lessons of the Great German and American Inflations

Edited August 11, 2011 by zdo
[U][/U]

[zdo 20]

someone’s wishful, delusional thinking that president would ever “stand up” – he’s more ‘bought’ than congress (if that’s possible). But hey, anti – illuminati talks comes in all forms

 

THE EMPEROR WEARS NO CLOTHES! Ratigan Spells-It-Out! PAY ATTENTION OBAMA!!! - YouTube

[zdo 20]

All three Keynesian policies have been tried, and all three have failed completely. The massive "shovel-ready" fiscal stimulus caused a minor blip up in activity, but it did not spark any regeneration of borrowing and spending. All it did was enable further deleveraging as consumers and businesses struggled to pay down their crushing debt loads. As for devaluing the currency, the Fed's policies devalued the U.S. dollar 32% from the early 2000s, and 17% from 2008. Rather than spark a boom of spending and investment, this massive devaluation sparked a dramatic loss of purchasing power which households experience as high inflation. No nation ever prospered in the long-term by devaluing its currency. Devaluation is just another Keynesian "quick fix." Borrowing 40% of Federal spending didn't "fix" what's wrong with the economy? Then borrow 50%. That devaluation wasn't enough? Then takes the dollar down another 10%. These are the policies of debt-junkies, not legitimate long-term growth based on capital formation and productive investment.

Tyler Durden

 

One of the purposes of this thread is exposure of the big lies.

This qualifies…

Washington's Blog

[zdo 20]

TRADE FOREX WITH A LEADING BANK >>Try the Free demo

 

This one is hilarious -

Jon Stewart On The Ron "13th Floor In A Hotel" Paul Media Blackout | ZeroHedge

 

and or

 

This one is not -

Big Brother 2.0: 10 New Ways That The Government Will Be Spying On You And Controlling Your Behavior

 

Is your choice really that clear cut?

[zdo 20]

... FREE UNTIL 2012 GET STARTED

 

Lying in sanskrit - lesson for the day

 

When you’re listening / watching any politician, ANY POLITICIAN, republicrat or democan, (obama, bachman or whoever) who utters the terms “create jobs” or “job creation” - Watch out! They are lying to you!

Use it as a tell... an opportunity for you to reframe...

[MadMarketScientist 11]

What happens if you click Ignore this user on yourself ?

 

No idea but I'm scared to try it!

 

MMS

[zdo 20]

No idea but I'm scared to try it!

 

MMS

 

me too...

I dare you :haha:

 

 

Tyler, packing the words in so tightly and bluntly 

“ Proving once again that when it comes to the definition of Banana Republic, America really has no equal, we first read in China Business News that according to PBOC adviser Li Daokui, China will "basically" maintain its existing monetary policy direction, and won't likely introduce stimulus measures as it did in 2008. Sorry "Rest of the World", you are on your own: China will no longer act as the last recourse economic (confidence) dynamo (because who the hell knows just what is going on in the mainland aside from building empty cities and grounding its entire monorail fleet, an action that was accompanied by so-called objective rating agency Dagong giving the rail ministry a rating higher than that of China itself!... once a rating agency...). However, this action of glaring sobriety does not stop our own fiscal monkeys from throwing feces at the stimulus wall in hopes something sticks. Just as last year the payroll tax was supposed to be the $100 billion gift that keeps on giving, yet crashed and burned miserable within months if not weeks, so this year we find that Obama is once again "recommending that the congressional deficit supercommittee back new measures to stimulate the lagging economy, people familiar with White House discussions said Tuesday." But that's not the funny part! No, the funny part is that even as he demands more alms, our munificent president would also "recommend the committee come up with a package that reduces the federal budget deficit by much more that its mandate of $1.5 trillion over the next decade, a senior administration official said, through changes in the tax code and social safety-net programs." So let us get this straight: more stimulus in the short-term, offset by quadrillions...nay... sextillions of savings at some point in the far future, long after the current administration is at the very bottom of the history books. Brilliant! But an even better idea: Obama should pull a Bryan Gardner and forge a money order from Hank Paulson, making Citi hand out a +/-$1 million check to every American, paid out of petty unaccounted for cash, as was the case before. Obviously, nobody noticed then; it is only Banana Republican that nobody will notice now”

[zdo 20]

DISCOVER HOW TO TRADE FOREX

GET YOUR FREE eBOOK NOW

 

Lying in Sanskrit - lesson for the day

When you’re listening to / watching any politician, ANY POLITICIAN, republicrat or democan (obama or whoever) who talks about helping or protecting the ‘middle class’ – Watch out!. They are lying. Just like in the russian revolution, the rhetoric was to go after the upper class – but the real target was, in that case, and is, in this case now, the middle class.

[Ingot54 13]

Dylan Ratigan continues to tell the truth:

 

GET THE MONEY OUT OF CONGRESS!!

 

EDIT - (link failed)

 

http://www.dylanratigan.com/2011/08/17/democracy-for-sale/

Edited August 19, 2011 by Ingot54

[zdo 20]

You’re imagining me in an aluminum foil hat ?? ///:haha:

I’m imagining you needing one...

 

Washington's Blog

 

Washington's Blog

 

“We live in a world where belief is more important than what's real, and must be defended at all costs. Belief will always seek to kill what's real, because what's real is a threat to belief.” V. Marco

 

"A belief is not merely an idea the mind possesses; it is an idea that possesses the mind." Robert Oxton Bolton

 

"It’s no measure of health to be well adjusted to a profoundly sick society" J Krishnamurti

 

”Anyone who gives you a belief system is your enemy” Osho

[zdo 20]

Bless all our Pips... Many factors affect exchange rates.

 

Tip off - coming to a speech near you. Watch out for the Big lie word of the day - Sacrifice.

Beware any politician’s words, including those of the so ‘exceptional’ Barry Hussein Obummer, who use the terms “sacrifice”, “we must all sacrifice” and “shared sacrifice”, etc.

"It only stands to reason that where there's sacrifice, there's someone collecting the sacrificial offerings. Where there's service, there is someone being served. The man who speaks to you of sacrifice is speaking of slaves and masters, and intends to be the master." Ayn Rand

[zdo 20]

TOP

10

Ways Forex Traders Lose Money

 

to whom does it debtsn’t matter anymore?

New national debt data: It's growing about $3 million a minute, even during his vacation - latimes.com

 

Unless denial is freakn rampant rampant, to some this obviously doesn't matter. It' different this term, this administration, or something... it seems to matter to a lot of americans. It definitely matters to the dumbass teapartiers, but to some it doesn't seem to matter. Who are they?

 

 

roll .59 to the left...

[zdo 20]

venders, vendors, vendees

 

 

 

wad this up in your panties

 

...Protests and riots continued, eventually forcing the government to resign. Elections were brought forward to April 2009, resulting in a left-wing coalition which condemned the neoliberal economic system, but immediately gave in to its demands that Iceland pay off a total of three and a half million Euros. This required each Icelandic citizen to pay 100 Euros a month (or about $130) for fifteen years, at 5.5% interest, to pay off a debt incurred by private parties vis a vis other private parties. It was the straw that broke the reindeer’s back.

 

What happened next was extraordinary. The belief that citizens had to pay for the mistakes of a financial monopoly, that an entire nation must be taxed to pay off private debts was shattered, transforming the relationship between citizens and their political institutions and eventually driving Iceland’s leaders to the side of their constituents. The Head of State, Olafur Ragnar Grimsson, refused to ratify the law that would have made Iceland’s citizens responsible for its bankers’ debts, and accepted calls for a referendum.

 

Of course the international community only increased the pressure on Iceland. Great Britain and Holland threatened dire reprisals that would isolate the country. As Icelanders went to vote, foreign bankers threatened to block any aid from the IMF. The British government threatened to freeze Icelander savings and checking accounts. As Grimsson said: “We were told that if we refused the international community’s conditions, we would become the Cuba of the North. But if we had accepted, we would have become the Haiti of the North.” (How many times have I written that when Cubans see the dire state of their neighbor, Haiti, they count themselves lucky.)

 

In the March 2010 referendum, 93% voted against repayment of the debt. The IMF immediately froze its loan. But the revolution (though not televised in the United States), would not be intimidated. With the support of a furious citizenry, the government launched civil and penal investigations into those responsible for the financial crisis. Interpol put out an international arrest warrant for the ex-president of Kaupthing, Sigurdur Einarsson, as the other bankers implicated in the crash fled the country.

 

But Icelanders didn't stop there: they decided to draft a new constitution that would free the country from the exaggerated power of international finance and virtual money. (The one in use had been written when Iceland gained its independence from Denmark, in 1918, the only difference with the Danish constitution being that the word ‘president’ replaced the word ‘king’.)

 

To write the new constitution, the people of Iceland elected twenty-five citizens from among 522 adults not belonging to any political party but recommended by at least thirty citizens. This document was not the work of a handful of politicians, but was written on the internet. The constituent’s meetings are streamed on-line, and citizens can send their comments and suggestions, witnessing the document as it takes shape. The constitution that eventually emerges from this participatory democratic process will be submitted to parliament for approval after the next elections....

 

A story missing from our media: Iceland's on-going revolution

[zdo 20]

rub this into next Thursday night's 'spitch'

 

THiS MaCHiNe KiLLS FaSCiSTS...aND THaT ONe KiLLS JoBS | ZeroHedge

 

 

 

PS btw, it just occurred to me that the black caucus' concerted attacks on the tea party of late may indicate they and BO are threatened with the imminent possibility of a significant exodus of hard working black people from the left's 'plantation'

I know several of those hard working, tax paying AfAm's who have 'woken up' in the last couple of months. Could be a wave of that coming...

[zdo 20]

Trade Commission Free For The Next Thirty Days

 

 

 

A chance to learn from history’s lies (…seems that’s something humans only think and wish they were good at) The decade's biggest scam - Glenn Greenwald - Salon.com

 

Know of one single politician, beside maybe Ron Paul, who has the will to actually do anything about correcting this?