WTO becomes WTF

Wasn't it our oligarchs who decided, not much more
than 10 years ago, in Seattle,
that the World Trade Organisation would enforce a rule
that said that countries could not support businesses
because this was anti-competitive.
This was designed to guarantee that big western companies
would take over the world due to economies of scale,
and blackmail the poor countries into
surrendering their productive bounties
for free to western mercantilists.

This rule has been in permanent moratorium since the
Big Wall Street Putsch of 2008.

Many small countries, like Burkina Faso, Upper Volta and
Diego Garcia have tried to prosecute the United States
and the European Union under the rule, despite the moratorium
but they've been threatened with  undisclosed
political consequences perhaps involving an army
by the grand Ayatollah of Fiat  Moolah,
the Fakir/Faker, over in Washington, TG.

putting public money to good use

by giving it to bankers.

Let's cut to the video:
Steve KEEN.
UNDERSTANDING BANKS
Minute 7 when he lampoons neo-classicals.
It's Hard to follow the rest, because he goes like lightning,
but try it.

would you sue if you had to pay the defendant's bill?

That's what we're left with these days.
The very few times that lawyers have got off their arses
to do the work of governments, by suing companies
that should have their executives in jail for fraud,
are only making a hole in the water.

In the end, if banks "don't have money" to pay the settlement,
so the public picks up the bill for the whole mess.

IshitUnot:
The Farce-Hole Gets Deeper: Obama's "Robo-Settlement For Votes" Cost To Taxpayers: $40 Billion
Submitted by Tyler Durden on 02/16/2012 22:52 -0500
Plunging deeper into the farce-hole, the FT reports tonight that Obama's foreclosure settlement with the banks over their improper seizure of tax-paying US citizens' homes will in fact be subsidized by those very same US taxpayers. It is a hidden clause (that has not been made public yet) that allows the banks to count future loan modifications under the $30bn (taxpayer funded) HAMP initiative towards their $35bn agreement to restructure obligations under the new settlement. As the FT goes on to note, BofA will be able to use future mods made under HAMP towards the $7.6bn in borrower assistance it is committed to provide - which means, in a (as TARP inspector general Neil Barofsky describes) 'scandalous' turn of events the bank will receive payments for averting a borrower default and be reimbursed by the taxpayer for the principal write-down. We have much stronger words for how we are feeling about this but Barofsky sums it up calmly "It turns the notion that this is about justice and accountability on its head". Are the Big Five banks truly beyond the law?

ECB tries Nazi methods of undermining a currency. it's own

Undermining a currency used to be what you did to your enemy.
That was WW2. We're so much more advanced today, that we
do it to our own currency. It helps sell our products
cheaply around the world.


IshitUnot:
Nazi forged bank notes hit sterling confidence, MI5 files show
By Sanchia Berg Today programme, BBC Radio 4
A counterfeit British banknote Counterfeit British bank notes created by Nazis amounted to 10% of sterling in circulation
* British 'cash' made by Nazis sold
* Film tells of Nazi camp forgers
Nazi counterfeiting "destroyed" confidence in the British currency in Europe by the end of World War II, according to newly released MI5 files.
A 1945 report in the National Archives suggests Germany began production of the fake notes five years earlier in a bid to undermine sterling.

what's good for the people is good for the banks: austerity

We know that governments have to reign in their expenses,
because the banks are broke* and governments "can't get money"*.
Of course, at the same time, we’ve decided to bail out the banks,
so they're not broke, not in a bankruptcy sort of way.
If we killed off some banks and reigned in the rest,
then people would support cuts in government expenses.
That's even though the cuts in public services, though very
harmful, can in no possible f^&%^king way pay off the
massive stinking, pile of sh"t debts that every country
has on its books. But, I digress.

It would be necessary, in killing off those banks that we lose
some or all of our national debts, in order to balance things.
Bankers would swallow it, because they’re short-termists anyway
(the ultimate businessmen). All they care about is their
individual fees.
The fact that their banks will get robbed doesn’t concern
any of them.
It’s the bonus, shithead.

*we know it's bullshit, but that's what they say

Who woke the dog up?

The mainstream media has just woken up to the world of
foreclosure fraud of mortgages in the US. Thanks, you
hacks.

They could have been reading Zerohedge or any other similar
blog, for the last 5 years to discover more about this.



IshitUnot:
Reuters Foreclosure abuse rampant across U.S., experts say
By Tim Reid
LOS ANGELES | Fri Feb 17, 2012 12:34pm EST
LOS ANGELES (Reuters) - A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country.
The audit of almost 400 foreclosures in San Francisco found that 84 percent of them appeared to be illegal, according to the study released by the California city on Wednesday.

Hegemonic philosophy 101: what is a soldier?

johnsmiff letter on Zerohedge:

November 2011

"Military men are just dumb stupid animals
to be used as pawns in foreign policy"
Henry Kissinger, as quoted in "The Final Days"
by Bob Woodward and Carl Bernstein in chapter 14.
Page 194 in the paperback version (1995)
That quote just about sums up the regard politicians
have for the veterans and the armed forces in general.

Lesson: how to invade Greece without firing a shot

Punk Economics shows us how life is so screwed up that a nation
can be subjugated by a bunch of clowns in suits and with the aid
of the politicians who have the care of a country in their hands.

Poison-tipped pens.



Dr. Michael Hudson will show you how the ground is prepared for
the invasion with the use of spies in the form of businessmen,
selling the wares of the invader. They go by the names of
Seimens and ABB and Douchebank.

Hudson- Grecian formula

key points-
10:10 forced buying of german arms
10:55 derivatives in 100 words
13:50 financial warfare
may I say a word about Lauren Lyster? She has moved up her game,
speaking clearly and cogently about the crimes of our times, and
she really puts weight behind her words. and yet
she’s even more appealing, even shekshy. I love it when a woman
talks in complex anti-establishment language. I think its luv.

Similarities between Occupy and Bastille movements

A march through a public street performs a public and political
function, even though it goes around in circles.
However, when you occupy or storm, that's a more clear
political activity.

You're filling a space as a base for presenting a more
permanent and thus a clearer message.
Occupying space, although it's peaceful, is a metaphor
for warfare. Space is a commodity that is traded between
countries as well.

A popular message from Occupy:

We don't have any weapons, this time.

more later

attack of the anti-capitalist bankers

It's nice and Orwellian when bankers and the media call
the Occupy movement 'anti-capitalist', as if it's like:

you complain about anything in capitalism,
therefore you is communist and anarchist.

As if capitalism is an 'on-off' switch.

The working people are getting strict capitalism while
the rich are getting coddled by socialist governments.

IshitUnot:
Jim Grant Must Watch: "Capitalism Is An Alternative For What We Have Now"
Submitted by Tyler Durden on 03/07/2012 17:39 -0500
Jim Grant is simply brilliant in this must watch interview with CNBC's Maria Bartiromo, which we won't spoil with commentary, suffice to provide the following pearl of an exchange:
Maria Bartiromo: "What are the alternatives?"
Jim Grant: "Capitalism is an alternative for what we have now. I highly recommend it."
Maria: "We all do."
Grant: "No we don't."
Maria: "The Federal Reserve may not."
Grant: "We ought to be discussing an intelligent move to a sound currency by which i mean a currency that is based on a standard and not at the whim and the discretion of a bunch of mandarins sitting around Washington D.C."
In other news, Joseph Stalin has never been happier in his grave that Ben Bernanke has decided to shoulder the legacy of central planning and is firmly committed to proving that where Vissarionovich failed, the ChairSatan will succeed. At any

let's cut to the video: