who owns this place? there's a bill to pay

There's a University College Dublin Economics professor
who's got a flair for blogging.
And he basically said, if the ECB gave 160 billion euros to Irish banks,
through the Irish government, then the ECB own Ireland and should pay to
straighten it out.

I like the Irish reaction. They have not given up yet.
I heard they just might ask for a second loan. Priceless!

checkitout: 2 things
Irish times- Morgan Kelly
....This allows Ireland to walk away from the banking system by returning the Nama assets to the banks, and withdrawing its promissory notes in the banks. The ECB can then learn the basic economic truth that if you lend €160 billion to insolvent banks backed by an insolvent state, you are no longer a creditor: you are the owner. At some stage the ECB can take out an eraser and, where “Emergency Loan” is written in the accounts of Irish banks, write “Capital” instead. When it chooses to do so is its problem, not ours.
At a stroke, the Irish Government can halve its debt to a survivable €110 billion. The ECB can do nothing to the Irish banks in retaliation without triggering a catastrophic panic in Spain and across the rest of Europe. The only way Europe can respond is by cutting off funding to the Irish Government....

2
Daily bell
We may witness a broad based bank run in Ireland. I’d say the odds are pretty high and one is well underway already according to the chart below. On the other hand, if you stop witnessing bank withdrawls then you can really start worrying because that means the people of Ireland have figured out the game. They’ve figured out that the Central Bank of Ireland isn’t central at all. They can take their country back. They can default and they can start over, but they’ll be taking a pound of flesh out of the entire hide of the Eurozone and a huge loss in the value of all those Euros they’ve been drawing out of the Irish banks. If I was them, I would go for the property, forget the Euros. Stake a claim on the buildings, infrastructure and heritage of your country by refusing to use anything.
A bank run in the Eurozone is a sucker’s bet (unless you expatriate from Ireland) because they will simply devalue the Euro proportionately within your trade boundaries and you end up with nothing left in your country of value that isn’t owned by outsiders. Remember the folks who print the Euros also print the Dollars. Go turn in your driver’s license, your license plates, quit driving, turn in your social security card, buy an extra fire extinguisher and some candles, cancel your insurance, and take a 30 day vacation from commercial transactions and see what kind of a response you get from the banks. If you can’t make it to work without a car, then share with your neighbors. Better yet, quit your job. It only takes a 15% – 20% drop in GDP to stop the machine in its tracks.

I wouldn't lend to people like us

The budget guy of Illinois says that his state needs a 12-step
program because it's gone a bit wild.

People should not give them any alcohol, sorry, money.

[I would not join a club that would have me as a member. Nor would I let them lend me money- Groucho]

checkitout:
Treasurer says he would call bond houses, warn against lending to Illinois
BY HANNAH HESS • hhess@post-dispatch.com > 217-782-4912 STLtoday.com | Posted: Monday, May 23, 2011 2:42 pm
SPRINGFIELD, Ill. • Illinois chief fiscal officer said Monday he is willing to dial up the bond houses and finance companies to alert them that lending the state more money, as Gov. Pat Quinn has proposed, would be a "major risk."
' 'If I need to send letters o the rating companies to tell them the treasurer of Illinois is opposed to more borrowing, I'm going to do that," said Republican Treasurer Dan Rutherford.

everybody stay calm and don't expose your brains

We've been under threat of a zombie banker attack for a long time,
otherwise known as a stock market crash.

Now, we have help. The US Centre for Disease Control
have produced the definitive zombie apocalypse defense guide.

http://emergency.cdc.gov/socialmedia/zombies_blog.asp
Because, I don't know about you, but 90% of right wing and left wing
economists think that nobody is dealing with those zombies.
Time for some zombie policing , people!

checkitout:
Economists from the Left and the Right Agree: Neither the U.S. Nor Europe Is Dealing With the Real Problem
Submitted by George Washington on 05/23/2011 20:58 -0400

Today, economists from both sides of the political spectrum said that no one in the U.S. or Europe are dealing with the real problems.

Niall Ferguson told Bloomberg that no one has the political will to deal with Greece, and so Europe might experience a crisis as big as the 2008 crash in the U.S.:
Paul Krugman argues that austerity has failed in Europe, but that the European Central Bank " "i[s] just not willing to face up to the failure of its fantasies" and to restructure Greek debt.

(In more Europe news, Moody's will issue a big credit warning on 14 of the UK's 18 biggest banks tomorrow).

And in the U.S., former Reagan head of the Office of Management and Budget - David Stockman - says that both Democrats and Republicans are now advocating for default in America, since Democrats won't compromise on spending and Republicans won't compromise on taxes. (Before Dems label Stockman as a radical anti-taxer, remember that he recently said that the Bush tax cuts were "the biggest fiscal mistake in history", and that extending them won't stimulate the economy)

if you ever see some guy named Sarkozy trying to sell you some democracy

[I taught 'im everysing I know.]

there's this guy named Sarkozy, right?
Sounds like a joke name @sarc. Get it?

Well, he says he's the Prez of that French country. what's it called?

He says the Internet should not replace democracy.

Democracy?
Where the F%^*(k is that?
what place on the planet is that?
would somebody please look under some rocks.
All I see is oligarchies.

And I hear he takes cold hard cash, in his pocket,
from greying, tax-dodging bitches.

Thank you Sarkozy.
You're mighty helpful.

-Costick67 ~(8^P

checkitout:

Sarkozy opens 'historic' forum on future of internet in runup to G8
Guests at eG8 digital forum including chiefs of Facebook, Google and eBay are told that 'total global revolution' achieved by net must not replace traditional democracy
* Kim Willsher in Paris
* guardian.co.uk, Tuesday 24 May 2011 12.29 BST

However, Sarkozy warned the internet could not be allowed to become a "parallel universe" or a replacement for traditional democracy.

"You have given every individual the chance to be heard everywhere by anyone. People have never had this chance before in history, but that right cannot be held by destroying the rights of others.

"Total transparency has to be balanced by individual liberty. Do not forget that every anonymous internet user comes from a society and has a life."

He added: "Governments are the legitimate guardians of our societies and do not forget this."

He said leaders of state had to learn how the internet could be used "to reinforce democracy, social dialogue and solidarity" and to create a "more efficient state". However, he said, "we have to make sure that the universe that you are responsible for is not a parallel universe outside laws and morals"....

it's those feckless Greeks who are squeezing our wholesome banks

[it's a dance to the death. It's either his country or her banks- art by WilliamBanzai7]

I know that everybody in Germany is making plenty of olive oil

stomping on Greece.

I got some news for them.
We wouldn't be in this dance with death if it weren't for the

banks f^&*king around so much
and one of the worst is Deutschebank, the Douchebank

What a relief to learn that the EU has lost
the opportunity to get banks into line,
but , at least the bank shares have gone up.
that'll feed some poor kids.

So, now everybody knows that the ECB is yelling at Greece
because it's hiding the fact that the Northern banks
are up to their necks in debt, not just Greek debt.
If Greece collapses, the Euro collapses because the banks
will have to collapse.



[enjoy this video which describes how German banks are responsible for
at least Spain's problems, because we know they're responsible for Ireland's]

-Costick67 ~(8^P

checkitout:
from REUTERS
Hopes of softer capital rules lift European banks

Fri May 27, 2011 8:09am EDT
BRUSSELS/PARIS (Reuters) - European bank shares rose Friday on hopes that new international capital rules for lenders would be applied with a lighter touch in the European Union as Germany and France demand more leeway. [that wouldn't be lobbying for the benefit of the rich, would it?- Costick67]
Berlin and Paris have pushed for more flexible treatment of some types of bank capital including controversial hybrid bonds in a debate over the rules that are designed to make banks more stable, an EU source said Friday.
Germany wants lighter treatment of some hybrids, bonds that combine characteristics of debt and equity, which have been used in the past to bolster banks' capital cushions. [oh, I see. Creative debt management- Costick67]
2 Deninger lays out the corruption CLEARLY
How To Fix Being Broke: Borrow More Money!
Amazing....
BERLIN—Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, according to people familiar with the matter.

Berlin's concession that it must lend Greece more money, even without burden-sharing by bondholders in the short term, would help Europe overcome its impasse over Greece's funding needs before the indebted country runs out of cash in mid-July.

What this really means is that Merkel has been apprised of the fact that her banks over there have written too many swaps and are too highly leveraged to survive a Greek default without yet another round of taxpayer funds from the Germans. She is therefore willing to risk political suicide (which is almost-certain) in order to avoid having to admit that the game-playing has continued post the original Greek crisis, and that in fact there has been no de-leveraging or cleanup of the German (and French, incidentally) balance sheets at all.

In fact, what I suspect is that these banks over in the Eurozone have been buying up these Greek bonds at a nice discount and then tendering them to the ECB on a Repo basis for cash at full par value. This of course is manifestly unsound but it's what happens when nobody can see inside the "magic box." The problem comes if Greece suddenly decides not to pay, at which point the Repo transaction becomes uncovered and the ECB is screwed. [HOWD'YA LIKE THEM CORRUPTIONS?- Costick67]

I'll lay even odds that Greece doesn't have until June 29th. [wrong-Costick67]
...
Oh yeah, I get it - we can't possibly let the truth out. You know, the ugly truth: Greece is insolvent and so are a significant number of banks that lent it money while being levered up 30:1.
Yes, still levered 30:1. You are over there in Europe, aren't you?
Why I bet you are.

I'm gonna pop the lid off this like a tin can

What with all the fratricide in the EU, I thought that I better tell one and all

about what Goldcore just said.
Now, we know from my past stories that the sovereign bond insurance CDS market
is a bunch of bullshit for folks to watch when there's no football on tv.

"Oh, Greece just hit 21%" "that's a new record"
It's fake insurance, but it's entertaining to watch it hit records every week
[Greece's CDS. for entertainment purposes only]

but, the US CDSs have shot up this week.

There wouldn't be another sign of an imminent implosion around,
would there?
it could just be that tempest-in-a-tea-party
debt ceiling?

checkitout:
GOLDCORE- CRISIS OR DEBT CEILING?
Risk of a U.S. default can be seen in the credit default swap (CDS) market. 1 year U.S. CDS has risen from 23 to 37 or by 60% in the last six trading days (see chart below). According to this measure, the U.S. is now more likely to default than Slovenia and Indonesia in the next year.
http://www.goldcore.com/goldcore_blog/us-risk-default-cost-insure-us-%E2%80%9Cponzi-scheme%E2%80%9D-against-default-rises-sharply

the US done blinked

With all my talk about gunfights, the US just missed an opportunity.
I guess it's too early, and they've got other small skirmishes to clean up.
Especially now that the Europeans are fully starting to eat their children.

The Amerks tried to use the freeze-dried Osama trick to try to get
Pakistan to grovel, but they done went to the Chinese, who
dutifully wrote out and sent a statement saying: "whenever you're ready"

and, hold on now, the blink heard around the world. and I was hedging for

a proxy war.
Drones vs. 20 million Chinese soldiers

I know I said that the US would be rattling China's cage in a couple of years,
but they gotta lose money on Libya and Iran first.

[it's safer to blow up the moon. Remember that one?]

more later
checkitout:
from DAILY BELL
Instead of meekly turning on the Pashtuns as requested, the Punjabi Pakistan elites have begun to turn to China in a refusal to do Washington's bidding. In a panic, US powers-that-be dispatched Senator John Kerry to perform a calibrated climb-down. Not good enough. Thus Hillary Clinton now performs her Pakistan pilgrimage, arriving on an "unannounced visit." Extraordinarily, she was accompanied by the most powerful military man in the world, chairman of the US Joint Chiefs of Staff, Admiral Mike Mullen.

And what did Ms. Clinton say when she got to Pakistan? According to the BBC, "US Secretary of State Hillary Clinton has said there is no evidence senior people in Pakistan knew that Osama Bin Laden lived so close to Islamabad. But she said that the US and Pakistan needed to do more to battle Islamist militancy and that bilateral relations had reached a turning point. Mrs Clinton said any peace deal in Afghanistan would not succeed unless Pakistan was part of the process. She expressed Washington's 'strong commitment' to relations with Pakistan."
It is funny in a sad way. Pakistan gets very bad press in the West as an ignorant, uncultured place that needs US aid to stay afloat. But here we have the spectacle of two of the most important officials in the Western world basically pleading with the ISI and Pakistan's inept political leadership. Will it work? And if not, can we expect President Barack Obama to arrive next?

you are sadly Mish-taken

[Shilly inveshtors. You're Shed-ly Mish-taken.]

Mish Shedlock, the economics blogger, says that people in the US
who are losing their houses to illegal foreclosures (see my other stories)
should lose their houses anyway, because they're

bad bad bad people!
you can just hear his finger wagging

One of his competitors, Karl Denninger had a few things to say. I can't find his bon mots, so here goes a re-imagining:
Mish: fraudulent mortgage papers are a technicality
Denninger: sorry. There's something called the law. Like, "no fraud allowed".Du-uh

Costick67: Mishelin tread marks on Mish's head. He's on a bit of slide lately. Maybe his squeeze packed up and left.

[the distressed homeowner in Mish-land- see below]

[I gotta have turf, even if I gotta steal it.]

here's Mish's mash
http://globaleconomicanalysis.blogspot.com/2011/05/foreclosure-gate-screw-tightens-banks.html
[I refuse to post the words of a Banksterist idiot]

more on MERS from Zerohedge

The Blessing (And Curse) That Is The "Linda Green" Signature
Submitted by Tyler Durden on 05/26/2011 19:52 -0400
When we presented our follow up post on Sarah Palin's recent house purchase, various elements from the Pavlovian fringe decided to make the idiotic assumption that the post, and the one preceding it, were some hit piece targeting the presidential candidate. Actually, no. Frankly, we have absolutely no opinion of Ms. Palin, and as such have no intention of writing "hit pieces", or any pieces, targeting her. The whole point of the posts was to demonstrate that even a person, who soon may or may not be president of America, could have fallen for what is now the most massive mortgage fraud scheme in the history of this country (which will certainly cost banks tens if not hundreds of billions of dollars to ultimately resolve). And while we will have many more discoveries on the matter soon, as we pointed out, the key link in the whole story is the mythical entity known as "Linda Green." While the backstory is by now very well known by most, for those to whom the reference is still unclear, we present the following investigative reporting piece by WHDH.com which explains why the Linda Green signature appearing anywhere in one's mortgage doc history, is a "blessing" and comparable to winning the lottery. Furthermore, we make no ethical judgments about whether strategically defaulting on one's mortgage is "good" or "bad" - the reality is that we are where we are. As Marie McDonnell, a Forensic Mortgage Analyst says, "I'm speechless. The scope of the problem is unimaginable, the depth of the fraud is shocking." And therein lies the rub: when all is said and done, banks will ultimately be saddled with another massive round of losses, which will then necessitate another round of taxpayer bailouts, which will then likely be orchestrated by the mainstream media machine as a conflict between those who pay their mortgages and those who don't, instead of focusing on the core problem: unimaginable greed by the financial system to do whatever it takes to fatten the bottom line, which includes breaking the law. And the longer we pretend the problem does not exist, the bigger the ultimate bail out (see Greece).

and , a letter in two parts:

by JLee2027
Exactly. No bailouts for the banks, they committed fraud and broke the chain of title, while most of us just stuggled to pay our own bills. Now we should pay theirs too? No way.

I think the end result will be squatters win. For those with a MERS mortgage in foreclosure, hang in there guys, DON'T let the banks boot you. If you get a default notice, write them a letter, send a fax and challenge it. Make them prove they have an original mortgage note, and ask them their authority to assign mortgage through MERS. Claim they are committing fraud (which they are through MERS). Tell them if they persist in trying to take your house you will sue them. This does stop some of the banks and attorneys dead in their tracks, especially if they KNOW the paperwork has flaws.

If that doesn't work fight them in court every step of the way and when you lose, appeal. File pro se if you have to. When you lose and they try to evict you, file again in court and appeal that if you lose. You can hold out for years while the courts figure things out. By that time, the illegal business practice known as MERS should be dead and the survivors will get title.

Do not fall for the refinancing gimmick. That is their chance to "fix" the papers and really trap you. I know it's hard, but ignore it.

BTW, if that is Palin's new house and there are title issues, they have a moral obligation to back out of the sale. There are plenty of homes available, as we all sadly know.
2
by JLee2027
You or them committing fraud? If you're suggesting it, that's just stupid. You go to jail, they go free, as always. But...if it's them:

That's why you need to challenge it immediately to the entity that claims to be foreclosing, then again in court. They have dubious authority through MERS to make these assignments, as the authority is self-given and violates state laws in some cases.

I am not a lawyer, but I am a homeowner who's been through this. "They" are crooked as the day is long. Stand up and fight!


later

Tesco protests are for ninnies?

I challenge the Furedi
He thinks that modern protesters are morally compass-less.

His text is so full of errors, I gotta work on some more.
coming soon. my comments

Frank Furedi
Hating Tesco: a passion of both the PC and the BNP
Trendy leftists and far-right activists disagree on many things, but they have one conviction in common: supermarkets are evil.
It was around eight years ago that I discovered that in nice social circles it is de rigueur to hate Tesco. My wife and I had gone to a dinner party organised by the parent of a boy in our son’s cricket team. Two minutes into the first course, our host informed us that all the ingredients in the food on our plates had been ‘locally sourced’. Before the first course was over, I learned that none of the other dinner-party guests ever ‘go near a supermarket’ and that they had intensely strong views about ‘that Tesco’ in particular.
At this point the discussion would probably have moved on to a different, more interesting topic had I not innocently put on my sociologist hat and asked: ‘Why Tesco?’ The responses ranged from a moral condemnation of corporate evil to the argument that it is actually ‘cool’ to be seen lashing out against Tesco these days. Considering that the person who advised me about the coolness of hating Tesco was a not very hip middle-aged estate agent, I quickly realised that I was really behind the times. Of course, as cultural history shows us, for something to be genuinely ‘cool’ it must be part of an outsider or underdog outlook; when middle-class parents feel they can express themselves in the idiom of coolness, you know that ‘cool’ has lost its meaning.
Over the past decade the moral crusade against Tesco has gone viral. Everyone from food snobs to consumer and environmental activists to fashionable ‘it’ girls to anarchist fantasists and even would-be fascists now expresses hatred for Tesco. The recent riots against the opening of a Tesco store in Stokes Croft in Bristol resonated with this coalition of the morally outraged. Indeed, those who participated in this gesture of aesthetic and moral defiance of the big T know that they can count on the secret admiration of their well-heeled parents. They certainly enjoy the patronage of much of the media and of the world-renowned Bristol-born graffiti artist Banksy, who promptly produced a souvenir poster for the riot. This sweet-looking illustration of a lit bottle with the label ‘Tesco Value Petrol Bomb’ is an aesthetic expression of the idea that lifestyle is about as political as it gets.
The moral crusade against Tesco is not confined to small groups of countercultural entrepreneurs. Anyone keen to show that they genuinely care for their community is obliged to exhibit an aversion towards supermarkets. So the British National Party recently proudly announced that one of its Burnley councillors, Sharon Wilkinson, ‘led the argument to support the wishes of the people of Padiham [to reject the building of a Tesco store in their area]’. At first sight, the fact that the anti-Tesco consensus can win support from both far-right nationalists and trendy countercultural activists seems to make little sense. Yet while these two different groups might have very different opinions on various social and political issues, they express a very similar attitude towards change and uncertainty, and they view the future with fear, almost as an alien territory.
The search for meaning
The ascendancy of consumer consciousness has many causes, but the principal driver is the search for meaning. These days, Western society has lost the ability to use any kind of grammar of morality to outline authoritatively what is right and wrong. Any broader sense of morality has been displaced by a promiscuous tendency to moralise, and to seek to give meaning to, routine parts of our everyday lives. Consequently, people’s fairly humdrum habits – from what we eat and drink to how we feed and raise our children to what we consume – have been turned into targets of moralisation.
So fast food is not only referred to as ‘junk food’ – it is also looked upon as somehow evil. Terms like ‘natural’, ‘organic’, ‘local’ and ‘community’, when used to describe certain high-end consumer products, are used to indicate the buyer’s moral worth and his superior lifestyle choices. Such sentiments express a sense of confusion about how one attaches some meaning to life in our world of flux and change. That is why lifestyle has become such an important terrain for crafting an identity which might distinguish the individual from what many believe to be the homogenising imperative of invisible forces that are driving the world forward.[GOING TO FAR. BELITTLING THE PEOPLE]
The quest for meaning takes two forms today. Those who can afford it are drawn towards a lifestyle which emphasises their distinct, individualist attributes. These people are committed to avoiding mass tastes and mass-produced artefacts. Such a consumerist lifestyle is based on a determination to appear different and is devoted to constructing a moral contrast between the ethical behaviour of distinctive consumers and the kitsch taste of the plebeian masses who irresponsibly shop at Tesco.
The second expression of the quest for meaning is the attempt to insulate one’s life from the forces of change. People who experience cultural or economic insecurity often claim that they no longer recognise their communities. Some people blame this loss of a feeling of community on the influx of foreigners; others blame it on the disruptions caused by economic forces. In short, for some the problem is the recently arrived Asian newsagent or the Turkish fish-and-chip shop owners, and for others it is the supermarket.
Of course, concern with community life is an understandable and positive impulse. The problem is not the aspiration to celebrate community life but rather the pathologisation of change as something terrible. Whenever change is recast as a kind of malevolent force, it can end up disorienting people and making them feel lost. At best, this disorientation leads to the kind of pedestrian moralising that characterises contemporary political correctness[LACK OF RELIGIOUS MORALS]. At worst, it incites the kind of destructive rage that we saw on the streets of Bristol. And in some cases, the destructive urge that springs from a discomfort with change does not stop with the breaking of store windows.
Lessons of history
In the twentieth century, the rage against supermarkets and big shops was most common among reactionary sections of society. The most successful and effective promoter of the anti-supermarket standpoint was the National Socialist Party in Germany. Its target was not Tesco but the American chainstore Woolworth. A Nazi pamphlet handed out to the people of Hanover in April 1932 warned that a ‘new blow aimed at your ruin is being prepared and carried out’. It claimed that the ‘present system enables the gigantic concern Woolworth (America), supported by finance capital, to build a new vampire business in the centre of the city’.[THEY WERE RIGHT]
Nazi-led boycotts of department shops throughout Germany were common. In response to these campaigns, the German government imposed restrictions on the building of new department shops and retail chains. In May 1933, Hitler’s government passed a decree to restrict the services and types of products that department shops could sell. In the same year, ‘the French government prohibited the opening of any more cheap Uniprix stores, for the same reason’.
In the United States, there were frequent populist-led campaigns against the Sears Roebuck and Montgomery Ward corporations in small towns. These corporations were accused of destroying local businesses and communities. Populist activists, helped by the local media, organised boycotts and demonstrations against what was perceived to be an invasion of big-business interests. The main target of the anti-chainstore movement of the 1920s and 1930s was the Great Atlantic & Pacific Tea Company. Like Tesco today, the A&P Corporation was a massive business. It operated over 15,000 outlets and by 1930 it was the fifth largest corporation in the US. Although the American anti-chainstore movement never became as intensely xenophobic as its continental counterpart, it nonetheless expressed the sense of impotent rage – one which is still expressed today by consumer activists suspicious of change. [SEEN ANY WALMAR DOCUMENTARIES RECENTLY?]
However, while the current crusade against Tesco echoes the anti-modernist confusions of interwar reactionary movements, it also has some distinct twenty-first-century traits. The interwar campaigns against modern retail chains were underpinned by the outlook and concerns of small businesses, traders and craftsmen. Such campaigns never enjoyed widespread cultural affirmation or any significant support from working people. Today, by contrast, it is really ‘cool’ to be against supermarkets. Being anti-Tesco is culturally affirmed and even celebrated.
Despite the unprecedented expansion of consumerism, society feels uneasy with it. Most importantly of all, the moralisation of lifestyle has turned banal activities such as eating, shopping and travelling into political issues. If it was merely a question of making a fuss about where you shop, then the anti-Tesco crusade could be dismissed as a symptom of gesture politics. However, when crusaders believe that because they have strongly held views about consumption and change they therefore have a warrant to impose their will on others, then the politics of lifestyle threatens to turn ugly.

blowed up good, that reactor did, two months ago

[BLOWED UP REAL GOOD!- TEPCO STAFF]
[a Nuke Plant- it's just a kettle that occasionally blows off some steam, and waste that lasts 24 000 years.]

Even though blowing up is more of a stock market metaphor,
it still works well for Fukushima.

Those sneaky Japanese waited for us to get distracted by the next disaster
to tell us that one of the reactors had a melt-down, long afterward.
It happened on day 1 of the disaster, 2 months ago

Today the International Atomic agency guys show up ,
and today, TEPCO said that 2 more reactors had melted down.

two months ago!
on day 2 or 3

Good timing
If you were reading Zerohedge, they noticed it within the first week,
from a video!

It would have been funnier for those IAEA guys who promote radioactive
activities to have gone to Fukushima and gotten a lifetime dose in an hour.

[I hear green is in style]

It gets funnier. Apparently, the IAEA also knew what was going on for months (see below),
just like I said in my Liar Liar article.
The first thing they do is lie, and then they lie some more. It's the investments, you see?

-Costick67 ~(8^P

checkitout: 3 things
Japan nuclear plant confirms meltdown of two more reactors
Fukushima Daiichi operator accused of delaying announcement of meltdowns in reactors 2 and 3 as IAEA inspectors arrive
* Justin McCurry in Tokyo
* guardian.co.uk, Tuesday 24 May 2011 09.54 BST
The operator of the Fukushima Daiichi nuclear power plant said fuel rods in two more reactors were likely to have suffered a meltdown soon after they were crippled by the 11 March earthquake and tsunami in north-east Japan.

Confirmation by Tokyo Electric Power (Tepco) that fuel in the cores of reactors 2 and 3 had melted came days after new data confirmed a similar meltdown in reactor 1 about 16 hours after the disaster.

The utility, which last week suffered the biggest annual loss by any Japanese firm outside the financial sector, said most of the melted fuel in all three reactors was covered in water and did not threaten to compound the world's worst nuclear accident since Chernobyl.

...
It said the fuel rods in the reactors 2 and 3 had started melting two to three days after the earthquake and tsunami, which knocked out vital cooling systems.

2 Zerohedge [check the date]
Problems at 6 Japanese Nuclear Reactors ... 2 Have Already Likely Melted Down
Submitted by George Washington on 03/13/2011 02:01 -0400

Early this morning, the Fukushima I nuclear power plant melted down. See this.

Now, MSNBC reports:

A partial meltdown is likely under way at second quake-stricken nuclear reactor [the Fukushima III reactor], Japan's top government spokesman said Sunday.

Fuel rods were briefly exposed and radiation levels briefly rose above the legal limit at the nuclear plant where both reactors are located, said Chief Cabinet Secretary Yukio Edano.

His statement came after Japan's largest electric utility started releasing steam Sunday at the second nuclear reactor while trying to stop a meltdown that began a day earlier in another.

MSNBC also notes that "the government [is] warning there could be an explosion at a second reactor [i.e. plant number 3] crippled by Friday's devastating earthquake."

BBC points out that a meltdown at number 3 could be more serious than number 1, because it uses plutonium as well as uranium:....
3
http://georgewashington2.blogspot.com/2011/05/iaea-knew-within-weeks-of-japanese.html
Wednesday, May 25, 2011
IAEA Knew Within Weeks of Japanese Earthquake that Reactors Had Melted Down ... Public Not Told for a Month and a Half
As I noted last week, reactors 1, 2 and 3 all melted down within hours of the Japanese earthquake.
On Monday, Mainchi Daily News provided an important tidbit:
A meltdown occurred at one of the reactors at the Fukushima No. 1 Nuclear Power Plant three and a half hours after its cooling system started malfunctioning, according to the result of a simulation using "severe accident" analyzing software developed by the Idaho National Laboratory.
Chris Allison [a former manager and technical leader at Idaho National Laboratory], who had actually developed the analysis and simulation software, reported the result to the International Atomic Energy Agency (IAEA) in late March. It was only May 15 when Tokyo Electric Power Co. (TEPCO) admitted for the first time that a meltdown had occurred at the No. 1 reactor at the Fukushima nuclear plant.
According to Allison's report obtained by the Mainichi, the simulation was based on basic data on light-water nuclear reactors at the Laguna Verde Nuclear Power Plant in Mexico that are about the same size as that of the No. 1, 2, and 3 reactors in Fukushima.

According to the simulation, the reactor core started melting about 50 minutes after the emergency core cooling system of the No. 1 reactor stopped functioning and the injection of water into the reactor pressure vessel came to a halt. About an hour and 20 minutes later, the control rod and pipes used to gauge neutrons started melting and falling onto the bottom of the pressure vessel. After about three hours and 20 minutes, most of the melted fuel had piled up on the bottom of the pressure vessel. At the four hour and 20 minute mark, the temperature of the bottom of the pressure vessel had risen to 1,642 degrees Celsius, close to the melting point for the stainless steel lining, probably damaging the pressure vessel.

In other words, the IAEA knew in late March that there was a meltdown. The IAEA informs all of its member states of important nuclear developments.
Government agencies sat on this information, and the world didn't learn the truth until the operator of the stricken reactors itself made the announcement a month and a half later.
This is not entirely surprising given that governments have been covering up nuclear meltdowns for fifty years to protect the nuclear industry.

Savoir faire? No, I just play the numbers

Some would say that powerful politicians in France are

the inheritors of the King's "droit de cuissage"

the right for some leg, literally

They say that he's the great seducer.

and that power is an aphrodisiac

For DSK, it was just a numbers game
He's a numbers guy, economist, IMF
He just figures if you ask enough women,
you eventually get a date.

Other than the maid, in the hotel,
he directly
propositioned 2 desk clerks
to keep him "company"
and flirted with another.

they don't just fall over like that.
Not every New York hotel employee knows who he is,
and that he's got IMF cash on tap.
He could spend the GDP of a small country
in one night and not notice.
In fact, he keeps a cut of the money
that the IMF steals from small countries.
Because he likes to play the sugar daddy.

I wonder if he considered the odds of getting caught
raping a maid.
I wonder if her nationality had anything to do with
his little calculation.

banksters sexicon part 1 from WilliamBanzai7 of Zerohedge

ANALYST: John who talks too much.
ARB: One who exploits price differentials for call services at different venues
ARRANGEMENT FEE: Madam's cut.
ASSET CLASS: Quality of lady.
ATM: A regular John
BAILOUT: Session on credit.

-Costick67 ~(8^P

checkitout:
Strauss-Kahn New York Case May Curb Libertine Ways of Powerful French Men
By Helene Fouquet - May 24, 2011 4:39 PM GMT
The sexual escapades of powerful men in France have always been met with Gallic shrugs. Not anymore.
The arrest in New York of former International Monetary Fund chief Dominique Strauss-Kahn on charges of attempted rape is forcing men to watch what they say and emboldening women to challenge the modern-day version of France’s “droit de cuissage,” a feudal practice giving masters the right to have sex with female servants. It’s prompting introspection in the media over whether its laissez-faire attitude toward private lives of those in power helps them act with impunity.
“Since power is often thought of as an aphrodisiac, there was a sort of acceptance of men’s excesses toward women,” said Rachel Mulot, a member of a feminist group called “La Barbe,” or The Beard, which on May 22 joined protests in Paris against the “dominant male.” The Strauss-Kahn case may serve as a trigger to help victims of sexual assaults to break the “taboo of rape” in France, she said.
Strauss-Kahn, 62, was indicted May 19 on charges of criminal sex, attempted rape, sexual abuse, unlawful imprisonment and forcible touching of a 32-year-old maid at the Sofitel hotel in Manhattan. The former French finance minister, who had been a leading contender for next year’s presidential elections, denies the allegations and will plead not guilty, his lawyers say. DSK, as he’s known in France, is under house arrest in Manhattan.

here's how your stack of cash disappears

it's pretty and it goes around, but doesn't really go anywhere.
a metaphor for the economy

bankers, well, most of them, frittered away your money
they lost everything
they ruined countries by forcing them to take on bank debts
they killed the credit market, yet keep playing high-risk games.

then, when they don't like what's "happening" in a country,
they just leave.
So, IMG is looking to leave Ireland. (see the video below)
And this is a country with next to no business taxes.

Now, Ireland'll have no income tax from the employees who will lose their jobs.
Well, that's why so many of the Irish are gonna follow those banks.
They're having 'wakes' for the soon-to-be departed,
just like during the potato famine.
They won't be back, because it's illegal to default on a loan, in Ireland.
so underwater homeowners are splitting town!

I can now see this banksta thing is a bunch of juvenile medium-term
fraudulent moves. BUTT, nobody's stopping them.
SO, the only solution,
in order for the Euro group not to all go bankrupt,
is to print money,
just like the US
So, savers will be penalised because their savings will turn to dust.
through inflation!

Thank you, and good night.

Oh, if you're massively in debt, but still rolling along, your winning, big time.

this is the video with one of the Rothschild guys:

Ya, that family
the secretive banker family. owned the Bank of England!

He's a retired banker (Du-uh)
and the Queen's grand vizier (really!)
and leader of the Corporation of the City of London
the Tax Haven right in the heart of Europe.
that says it all.
And he actually agreed to be seen.
I'm amazed.

http://www.bloomberg.com/video/64729106/

-Costick67 ~(8^P
* BTW, the way the Rothschilds stole the Bank of England out from under the nose of the King makes Goldman Sachs look like paperboys. Look it up.

small retail boom in Joplin, Missouri

I'm saddened to hear of the loss of life in Missourah.

These are tough times. The news reports said that

Walmart and Home Depot were destroyed.
You know what that means?
Well, you know how those dino-stores destroy small/medium towns?
They're predators, really.
Well, God has shined the light on you survivors.


[Yeehaw! we done roped us a dinosaur]

There's demand for retail! People gotta shop.
There's no place left to shop.
Open a mobile store, get a licence,
and away you go.
It'll take those big-box guys a year to rebuild.
What are you waiting for?

it's like shooting PIIGS in a pen

[GR- STAGE 7, READY FOR 8]

[EIRE- STAGE 7]

[PORTUGAL-JUST ENTERED STAGE 7]

SNAKES &/OR BANKSTERS

STAGE 1. GLOBALISE MONEY
2. LEVERAGE x80
3. CRASH
4. EMPTY GOVERNMENT VAULTS
5. KILL PRIVATE CREDIT
OPTIONAL [LEAVE AN EMPTY SHELL BEHIND]
6.START THE SHOOTING GALLERY
7.COUNTRY DEFAULTS--GOTO IMF
8. COUNTRY GOES BANKRUPT
9. the ARMY ROLLS IN
10. REPEAT steps 6 to 9

Even as a kid (a rare one, admitedly), I knew that most countries were running
deficits every year. I knew that those loans were piling up. We even had a deficit
crisis in Canada. I had no idea how bad it was, but apparently we sorted it out.
and we've got good bank laws, even though our banks are too big.

STEPS 1-4
To make a short story, the US/UK/German banks
bet the whole kitty and it crashed in 2008.

STEP 5
Now, the private credit market is drying up.
Loans to businesses and home owners are drying up.
The only loans to other governments or banks are from friendly
governments: UK, US Federal Reserve, or the unfriendly IMF or ECB.

what am I to do with my deficit, then?

Moody's , Fitch and S&P will help.

STEP 6- SET UP THE BANKSTER SHOOTING GALLERY
3 concurrent acts

#1 The ratings agencies, which are corrupt (see below), and in the banks' pockets
are playing their role by rating countries' debt.
They're slowly pushing

one country
after another
over the edge into Default Gulch
AAA+
AAA
AAA-
AA
___BB
____B
_____C-
______D+
_______E
________F
_________U
_________C
_________K

Here's the cute part:
even though the rating agencies' opinions can ruin countries
they are only "opinions" according to their bosses.
It's unfortunate that they have a monopoly, and that the Market listens to them.

NO CRIMINAL LIABILITY

Too bad if a country has to crash, innit?

#2 The government bond insurance market will surely help?
I'll insure my debt!
That would seem like a good idea, but actually it's run like a casino
on the derivatives market, which is unsupervised.

"FAKE SOVEREIGN INSURANCE" run like a craps game

#3 And remember, every one of these above actions makes fees for stockbrokers.
Even when they bankrupt their own countries, they win. Du-uh

Now, what's going on is like shooting fish in a barrel. Greek kalamari, Irish sole, Porto cod

what a surprise. Guess who's in the firing line now
STAGE 6: Spain, Italy & Belgium


Of course, this will all bring on a big crash, so let's watch,
shall we?

BANKSTA'S PARADISE

[Coolio's opus]

more later

the Inside Job documentary is found here:
http://www.220.ro/documentare/Inside-Job-Film-Documentar-2010-3/oMyu8hplKl/
you can't get it on Youtube, because the wiseguys have planted too many
fake versions, to disuade people from watching. They can always blame google.

taking care of business

this is about the red carpet at the White House for bankers.
the revolving door between Wall St and the WH is legend already.
BUTT, no.

POINT: globalisation is about taking care of business, and nothing else

I was watching Peter Schiff on Fox with the phlegmatic judge,
talking about the IMF.
When he mentioned the US stock market going up, but employment and housing
being in the sh*tter, he made it clear that offshoring of jobs (wage arbitrage)
was killing off the job market in the US.

That's when I had the epiphany. I realised how

rapacious profits and job market hell can coincide

Here it is:
1 Companies listed on the US stock market can have their factories in Java
2 It costs them nothing to make stuff, so lots of profits
3 profits go to shareholders and the Bored of Directors
4 that makes the stock popular with the stock market
5 share prices go up, US stock market ticker goes up.
6 meanwhile, the job market in the US sucks, cuz the jobs is in Java. Du-uh. winning!
7 eventually it'll all hit a brick wall, because there's no "home" market for US companies
anymore. They plowed it up the poop chute.
[I'll have you Suits know that these unemployed people have guns, alright?]

Now THAT's a market bubble.

LET'S TAKE CARE OF BUSINESS
THE WAY WE DO IN CANADA.
CHALLENGE THEM TO A HOCKEY GAME,
AND BOX THEIR BRAINS IN:

[DOA vs BTO]
[watch for Randy Bachman, the coach]
[this song is also on the Inside Job documentary that the Powers are ignoring]
-Costick67 ~(8^P

and God said "let there be retards", part 2

what would make a group of people want to leave this planet,
and go up to heaven, as of 21st of May (sorry postponed).
What's your hurry?

here's the news report
"The 89-year-old Californian preacher had prophesied that the Rapture would begin at 6pm in each of the world's time zones, with those "saved" by Jesus ascending to heaven and the non-believers being wiped out by an earthquake rolling from city to city across the planet."

The guy's 89.
maybe he's just tired and
it's his dead dog, Yeller that's calling to him
to walk into the light
Woof!

POINT of ORDER: I didn't know that God did time zones!
Is He like a big Hoover with a world-size longitudinal attachment?

as for the earthquakes, wherever there's fracking
there's hope.

I would laugh except these are the same god-squadders
that the Republicans tug off, to get easy votes.

Indeed, GWBush43 was one of them.

He saw Gog and Magog doing battle over Iraq, so he had to help.
I personally think that was Dick Cheney whispering in GWB43's ear during his naps.

The Rapturous ones actually want to pump up Israel so that they'll bring
the nuclear holocaust, as an answer to the Nazi one, I suppose.
And THEN, they'll be raptured. May that one be delayed
indefinitely, please. I haven't made my first million yet. Wait for hyperinflation to kick in.

On the happy side, at least there wasn't any KOOL AID this time. But there was some humble pie on offer.
"aw, you're not all dead"
"gimme your wallet, or else you'll meet your maker"

Panic time, and of course, another sign of the rapture from Joe Weisenthal
"Matt Taibbi wrote his latest takedown" on Goldman and the stock has lost

$8.3 billion in value.

It must be the end of the world. A lone journalist has taken a massive chunk out
of a TBTF bank.

[it's got church bells and rap! Play it backwards and get a new departure date]

checkitout:
Goldman Plunges, As Market Cap Shrinks By $8.3 Billion Just Since The Matt Taibbi Takedown
Joe Weisenthal | May 20, 2011, 4:44 PM businessinsider.com
If you haven't been paying attention, Goldman Sachs shares have been in freefall.

They lost over 3% today amid a slew of headlines about imminent subpoenas related to Blankfein, the firm's activities during the crisis, and just generally for being the much-reviled Goldman Sachs.

The stock has lost over 10% in just the last week since Matt Taibbi wrote his latest takedown, costing the firm over $8 billion in market cap.

From its 52-week high made earlier this year, the stock is off 24%.

they want silver rapture, and now!

[a silver bubble]

with all the bubbles in the world, the governbankers
had to create a fictitious silver bubble, that's only a bubble because they "burst" it.

The short story is that the futures markets in silver, the CME, in the US
are used as a big 'get out of bankruptcy free' card for the major banks.

They manipulate the price down to keep their charade going.

This time though, my fears have been realised:

I wrote a while ago that

'if this raid spooks silver investors, then the oligarchy has just won themselves
some free time to retrench'

For one reason or another, a lot of small investors thought that they could use their
purchases of physical silver to crash the stock market. I wanted it so bad, but didn't
invest. These folks who did are now clinically depressed. Of course, they should hold
on to their silver, but anyway...

But, now it seems that others are fully believing [BELOW] that silver will never go above $45, because it is the forbidden zone set up by JP Morgan. They've broken innumerable laws, there's insider trading, and yet it still goes on, in broad daylight.
Well, all empires end, but when will this one? I don't know.

Here's the wise Stacie Herbert giving some loser chickensh*ts a shake

checkitout: 2 things
1
Stacy Blog: Show me the silver bubble!
Posted on May 19, 2011 by stacyherbert [maxkeiser.com]
There are some that since 2001 have doubted the bull market in precious metals. In these past six weeks, however, everyone from former silver bulls to those who sell freeze dried chicken sh*t for a living are out-shrieking the bears on the shriek factor. Do a google search and you will find hundreds upon hundreds of references to Hunt brother days. Bubble. Hunt Brothers. Suckers. Bubble. 1980. Bubble. Lose money. Bubble.

What the heck is going on???? Is the sky falling? Should we retreat?

Well, note that during every long, steady march up of a bull market, there are violent corrections down. And during every single one of these violent corrections, most of the media and many of the analysts will begin shrieking with fear or gloating with vengeance that the bull market is over. Read this editorial by Peter Schiff dated 2006 when silver corrected by 35% in 6 weeks. As you see, people were obviously shrieking that silver was in a bubble and now it was plummeting, popping and tumbling from I think it was $12 down to $9. No doubt Schiff will have received loads of hate mail from people who had ‘lost’ money by selling their silver after buying ‘at the bubble high’ on his recommendation. But without losers, there can be no winners in markets. It is because there are so many losers during a bull market that some can win. Their shrieks shake out even more losers, so the winners can win even more. Their loss is your gain.

To some, the losing is worth it. I have a friend who bought silver at the 2008 ‘bubble high’ of $22. Yes, again, in 2008, the silver bubble burst! This friend sold at $9 where silver once again fell. He ‘lost’ money by being ‘suckered’ into a bubble. Of course, $9 was obviously a support level for the next ride up on the bull. He doesn’t regret his losses as he says he just couldn’t deal with the emotional swings of the bull market ride.
2
http://dont-tread-on.me/the-world-is-cornering-the-elite/
DON’T TREAD ON ME [IT HAS A HAPPY ENDING, to be continued]
The World Is Cornering The Elite…
By Silver Shield, on May 18th, 2011
A recent article by Costata put forth the theory that silver is a losing bet, because the Elite won’t let it threaten their interests. His article , Has the Silver Market Been Cornered… AGAIN? is the latest in the silver bashing parade. A couple of my readers would like my opinion of his theory and it’s possible implications on the silver market.

Costata starts with, all works of fiction require “a willing suspension of disbelief”. I find this as an interesting starting point, but not for the reason he sets forth. You see we are living in the great fiction of the American Dream......
Costata says that the Elite can control the flow of the silver to essentially control the market. This is true, as we have seen in the past two weeks in the paper silver markets.

* The Elite can continue to trade 8 billion ounces of paper silver and knock 30% off the price of silver in a heart beat. They can do this even though there is only 1 billion ounces of silver produced every year and that there is only 33 million ounces in the Registered vaults of the CRIMEX. [CME/COMEX- Costick67]
* They can continue to manipulate the market by effectively doubling the cost of margins in 8 days.
* They can continue to have the 8 largest banks net short 150 days of global silver production without ever settling or delivering the physical metal.
* They can continue to trade 45 to 1 paper ounces to physical on the LBMA as Andrew MacGuire testified to.
* They can continue to take unlimited paper losses as long as the Fed backs them up in this paper suppression game.
* They can continue to break down regulations to expand their thieving.
* They can continue to have insider knowledge of smack downs.
* They can continue to pressure miners and refiners.
* They can continue to lease metal they don’t have.
* They can continue to create money/debt out of thin air.
* They can continue to use dark pools of liquidity and derivatives to add further layers to the game.
* They can continue to change the rules and raise borrowing costs like they did to the Hunt Brothers.
* They can continue to have the regulators turn a blind eye to the manipulative schemes they pull.
* They can continue to demonetize silver like they did in the Crime of 1873 and in 1964.
* They can continue to squeeze billionaires to dump their 129 million ounces over their ties to AIG.
* They can continue to unload billions of ounces in the national stockpiles of silver into the open market.
* They can continue to sell unallocated silver and ETF’s as a alternative to the REAL physical silver.
* They can continue to push gold as the real metal to own, because the Elite have a lot of that in the Central Banks.
* They can continue to demonize REAL assets and continue to glorify the latest and greatest paper instruments.
* They can continue to trade and control their casino.
* They can do all of this, until the music stops.

“Things that cannot go on forever, won’t”