crise financiere

16 Feb 2012 : Column 1016 5.20 pm Lord James of Blackheath: My Lords, I hope the minute that that has taken has not come off my time. I do not wish noble Lords to get too encouraged when I start with my conclusions but I will not sit down when I have made them. I will then give the evidence to support them and, I hope, present the reasons why I want support for an official inquiry into the mischief I shall unfold this afternoon. I have been engaged in pursuit of this issue for nearly two years and I am no further forward in getting to the truth.

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 following text is the Preface of The Global Economic Crisis. The Great Depression of the XXI Century, Michel Chossudovsky and Andrew Gavin Marshall (Editors), Montreal, Global Research, 2010, which is to be launched in late May. Each of the authors in this timely collection digs beneath the gilded surface to reveal a complex web of deceit and media distortion which serves to conceal the workings of the global economic system and its devastating impacts on people's lives.

Instead of depositor money being used to stimulate economic activity in the private sector by lending to businesses and consumers, the banks are helping to fund the growing federal deficits. This re-allocation of resources has a negative long-term impact on the economy. Depositor money is not being used for productive purposes like building manufacturing plants and making other investments that will create jobs and grow the economy. It is being spent by the government, which consumes in the present and does not invest for the future.

The Big One is coming soon, bigger than the 2000 dot-com crash and the 2008 subprime credit meltdown combined. A huge market blowout. And as Bloomberg-BusinessWeek predicts: "The results won't be pretty for investors or elected officials."

Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama. The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.

First, that the potentially-apocalyptic events leading up to the bailout of America%u2019s banks are not %u201Ctalked about%u201D, something to remember when President Obama or his monetary magicians are promising %u201Cthis and that%u201D with regards to curing America%u2019s economic ills. By the very words of Rep. Paul %u201CVallachi%u201D Kanjorski, a %u201Ccode of silence%u201D exists amongst the %u2018made members%u2019 of the political and financial elite preventing them from telling the truth, the whole truth and nothin%u2019 but the truth, so help them %u2018G-d%u2019.

FYI. Makes sense to me. Particularly when the Mossad cells were watching the "Al-CIAda" cells the whole time from Virginia to the 9-11 day-of when they were filming the towers being hit and collapsing, celebrating all the while. Of course Rabbi Chertoff of the Homeland Security Department now (then, the second in command under Ashcroft at the DOJ) let the Mossad budding filmmakers out of the country, without explanation, without much media coverage.

"I take this action with great reluctance," Chiang said at a news conference in his office. But he said that without action to close the deficit, "there is no way to make it through February unscathed." The payments to be frozen include nearly $2 billion in tax refunds; $300 million in cash grants for needy families and the aged, blind and disabled; and $13 million in grants for college students.