MISPLACED WALL STREET GLEE AT FRAUD AGAINST U.S. TAXPAYERS
On Monday 23rd March, as everyone knows, the Dow Jones Industrial Average soared by 6.8%, or 497.48 points, after details were released of how the Geithner Treasury proposes to relieve the criminal banks of the proceeds of their Fraudulent Finance operations, also known as ‘troubled assets’. TV screens were plastered with the unsavoury spectacle of brokers hugging each other, clasping hands and slapping each other on the back with joy.

Wall Street was ecstatic over the latest instalment of the gigantic fraud which the Obama-Biden-Geithner cabal have concocted to achieve the real objective of reigniting the derivatives trading carousel to inject value into worthless assets, lurking behind the public consumption objective of ‘freeing up the banks to start lending again’.

And, as usual, investors were jumping to knee-jerk conclusions, as was made clear by the crass reporting of this episode by The New York Times, which included comments such as the following attributed to T. Timothy Ryan Jr., President of the Securities and Financial Markets Association, who said the opposite of the truth of the matter:

‘For the first time in seven months, I can say they’ve done it right’.

MID-SEPTEMBER ‘LOCKDOWN’ RECONFIRMED AS MOMENT OF TRUTH
Before we continue, note the ‘seven months’ period mentioned here. Seven months takes us back to 10th-12th September 2008, when the $14.0 trillion of sovereign and HM The Queen’s LOAN funds were placed into ‘lockdown’ following the advice that we felt compelled to provide concerning the outrageous ongoing exploitation of The Queen’s LOAN money, which had been languishing within the Treasury Custodial Account network since it was sent over by the Bank of England on 19th-20th June 2007 to Bank of New York Mellon, whereupon the funds were hijacked for carousel financing purposes contrary to the instructions of the owner(s) of the funds.

The entire $14.0 trillion was finally removed from access by US parties altogether on 29th January 2009, after it had become clear that President B. Obama was in breach of the undertakings that he signed during his European trip last year, to effect the releases and proceed with the transparent Group of Seven-Approved Dollar private sector System Refunding Programme agreed upon by the G-7 financial powers in 2007 and 2008.

The Editor’s ‘exchange’ between Her Majesty The Queen and President Obama, published with the report dated 24th March 2009, summarises the present ‘state of play’ with respect to the proposal to proceed with the Refunding Programme independently of US Government intermeddling, from London. It is appended to this report as an Appendix for your convenience.

Mr Timothy Ryan Jr.’s reference to ‘seven months’ indicates what we know to be the case, namely that the ‘lockdown’ of the $14.0 trillion was the crucial factor that triggered the showdown.

It is also clear that because that happened, the White House, both under Bush II and Obama, are wilfully determined to ‘do it their way’ in accordance with the wishes of the money center banks – ‘their way’ involving the revalidation and revaluation of derivatives assets that are worth nothing because they are all NON-RECOURSE. This is clearly demonstrated, with the aid of charts, in the latest issue of International Currency Review [Volume 34, #2], which was mailed worldwide on 18th March 2009, just as the worst criminal event recorded to date in this crisis, apart from the stealing of The Queen’s gold, was about to ‘pop’ (see below).

INTERNATIONAL CURRENCY REVIEW DECONSTRUCTION OF FRAUDULENT FINANCE
To the extent that we have been able to clarify matters here, it is therefore a fact that every major government, institution and central bank in the world that matters has our deconstruction, in words and pictures, of the Fraudulent Finance Ponzi carousel – so that any attempt to smother reality is a complete impossibility. The issue’s theme is Systemic Fraudulent Finance and The Legalisation of Financial Corruption – which is exactly what the Geithner Treasury and the Obama White House are attempting to achieve. There is no change whatsoever from the previous Administration.

Now, the pack of hedge fund ‘big noises’ who have said they will ‘support’ the Geithner Fraudulent Finance Upgrade is headed by Bill Gross, of Pimco, which ‘works for’ George Bush Sr.’s criminal network, and therefore meets the requirements of the Nazi bank which stands behind this crisis – namely Deutsche Bank. It will be recalled that the German Chancellor, Angela Merkel, is bribed by Bush Sr. to protect his network’s assets within the German banking system.

MERKEL ORDERED REVENGE MURDER OF BRITISH TROOPS IN NORTHERN IRELAND
So it was no surprise to us when, all of a sudden a few weeks ago, a number of British troops in Northern Ireland were shot dead in cold blood at point-blank range. Why did this suddenly happen? Because, we are advised by UK intelligence sources, the German Chancellor, in deference to DVD, Dachau, gave the instructions for the Irish terrorist network, an instrument of long-range German Abwehr pressure against the United Kingdom, to be re-activated.

And why did Frau Merkel give these instructions?

Because the DVD and their associates inside Deutsche Bank had worked out that the events of 10th-12th September last year represented the gravest threat to the DVD’s operations and to its primary institution, Deutsche Bank, since the Second World War,

In parenthesis, it will be readily recalled that immediately after the 7/7 bombing of the London Underground and a bus in Central London, the order for which was given by the former French President Chirac on behalf of the Franco-German alliance, i.e. DVD, the Germans were told by a furious British Government (even though Tony Blair was totally compromised by both the Bush Crime Family and the European Union: see our report dated 12th October 2005: Archive) that if these terrorist acts, including the atrocities that were still ongoing in Northern Ireland, which unpenetrated components of UK intelligence knew were controlled ultimately by DVD, did not cease forthwith, Britain would initiate measures to exit from the European Union Collective.

Rather than risk facing the collapse of their long-range strategic deception entrapment operation calling itself the European Union, the Germans complied, and called off their controlled ‘assets’ in the Irish theatre. These were deliberately and provocatively reactivated by Chancellor Merkel the other day, in revenge for the deadly blow inflicted on the German hegemony project, by the events of 10th-12th September 2008 reported by this service.



more....

http://worldreports.org/news/204_u.s._fraud_scheme_launched_monday_in_big_trouble

REVIVING THE CARCASS OF THE EXPIRED DERIVATIVES SECTOR
Meanwhile the Obama-Geithner team are trying to rebuild the carcass of the exposed derivatives giga-pyramid-selling scam, despite the now deeply embedded and widely held knowledge that derivative so-called ‘Structured Products’ are worthless, and represent dead trash.

They are doing this by printing money and by creating debt out of thin air, while simultaneously operating a carousel platform which was triggered after the US Treasury found a foreign bank corrupt enough to agree to provide the foreign ‘wrap’ needed to reignite Fraudulent Finance trading under the radar, using monies that were ‘sequestered’ after the withdrawal of the $14.0 trillion on 29th January 2009, to form the basis for the secret trading operations which have been running for several weeks now at full tilt behind the scenes.
OBAMA SIGNS LOMBARD ODIER DARIER HENTSCH UP FOR ROLLING TRADING PROGRAM
The foreign bank was selected and signed up when President B. Obama arrived in Ottawa, Canada, on 19th February 2009, accompanied by the Chairman of his National Economic Council, Lawrence Summers, and the National Security Adviser, General Jim Jones. The visit, lasting seven hours, was Obama’s first trip abroad. A former US Ambassador to Canada, Gordon Griffin, made the following revealing statement about the visit:

‘There is an important “beyond Canada” component to this. Ottawa is providing a global platform’, he said. But he did not elaborate. Let us, therefore, elaborate in his stead.

The ‘important “beyond Canada”’ dimension’ referred obliquely to the signing of Lombard Odier Darier Hentsch, a very old Swiss bank, as the master counterparty for the hidden carousel trades that have been activated since shortly after that visit.

In other words, it took the Obama Administration just three weeks to find a corrupt foreign bank to do its dirty work – a display of wilful intent to engage in Fraudulent Finance on a gigantic scale (see below) in gross defiance of the Group of Seven, which had long since agreed the cost-free formula for reliquefying the US banks on-the-books – a formula which would cost the US Treasury and the taxpayer NOTHING because it would yield private sector TAXABLE REVENUE.



PERVERSE U.S. OFFICIAL STRATEGY DOOMED TO FAILURE
Instead of adopting this strategy, President Obama has knowingly adopted the perverse route to perdition, in deference to the blackmailing behaviour of the US banks: accordingly, since Obama is prepared to have the Federal Reserve lend untold volumes of fiat money creating Treasury debt in the background, he is deliberately and knowingly mortgaging the future of several generations of Americans, when he could have adopted the correct course and salvaged not only the American banking system, and economy, but the country’s battered reputation as a pariah state.

But he decided otherwise.


The Editor is perfectly well aware of allegations being made against the President of the United States, in all dimensions; but as a frequent visitor and friend of America, he considers that it would be unseemly for a ‘foreigner’ to engage in the polemical debate that is raging under that heading.

Furthermore, as a visitor, it is incumbent upon him to try to be polite about the Head of State, which is why he gave Mr Obama the ‘benefit of the doubt’ in the report dated 24th March 2009. It is not our job to enter into acrimonious internal debates that do not directly impinge upon the key vexatious INTERNATIONAL ISSUES that we have every right and a duty to our subscribers, to address. Some Americans who complained about the Editor’s ‘benefit of the doubt’ comment may have failed to take proper account of the Editor’s position here.

However given the grave INTERNATIONAL consequences of the doomed policies that President Obama is pursuing, we now have no hesitation, especially in the light of what transpired on Monday 23rd March – to be elaborated below – in stating that President Obama is engaged in Financial and Economic Fraud, not only against the American people, but against the Rest of the World, as well. We hope that this statement clarifies our position once and for all.

BEST INDEPENDENT FINANCIAL BRAINS AREN’T BUYING IT
Cutting a swathe through The New York Times’ coverage on Tuesday 24th March of the obscene outbreak of selfish euphoria on Wall Street on Monday, the following sober observations by Daniel Alpert, a Managing Director of the hedge fund Westwood Capital, stood out (in a secondary article):

‘We see another $1.5 to $2 trillion of as yet unrecognized losses from US assets still to hit global financial sector balance sheets and challenge its institutions. The near daily announcements over the past two weeks, by money center banks and finance companies, that they are making money this year on an operating income basis, have become borderline irresponsible, relative to the known continued deteriorations in value of the assets on their balance sheets and the continuing impact of a worsening recession’.

In other words, everyone’s under water: so what are they talking about?

Bearing in mind that the object of the White House exercise is FIRST OF ALL to reignite and re-start the derivatives carousel right across the board – an intention of extreme perversity, as we've explained – here is a deconstruction of events from 18th March 09 onwards, showing how ruthless these criminals are and why they can now be considered as dangerous as their evil predecessors.

Restarting the moribund (since 10th-12th September 2008) derivatives fraudulent money machine necessitates velocity of transactions once the pump has been primed: otherwise, in this carousel trading system, everything stalls. What the criminalist financiers NEED to reignite the system is LOADS OF NEW MONEY. This is why Geithner has come up with this scheme for new public-private partnerships, financed by fiat money generated by the Federal Reserve out of thin air but creating permanent real official debt on the other side of the balance sheet, so that the ‘private sector’ can provide the ‘new money’ that the criminalist financiers need to restart their giga-trading platform.

GOVERNMENT ARRANGED FOR THE BANKS TO STIFF THE CHINESE
We now understand that, as explained in the report dated 24th March, the Chinese parties were paid $13 trillion, between Wednesday 18th and Friday 20th March 2009, although given that the phrase ‘source of funds’ is strictly taboo now, neither we nor our sources are able to identify the complete provenance of this enormous volume of money – representing the ‘first instalment’ of the colossal sum that the Chinese are owed as explained in the preceding report.

But the Chinese parties then made the fatal mistake of agreeing to place some of these funds into a sort of ‘public-private partnership’ arrangement in the context of the latest Geithner wheeze which sent Wall Street investors into paroxysms of misplaced delight on 23rd March.

Guess what happened?

• The banks held onto the money. The banks would not release the funds repositioned with them by the Chinese parties, for the purpose for which the funds are intended. The US money center banks basically said: ‘We’re not paying anyone’.

---more at

http://worldreports.org/news/204_u.s._fraud_scheme_launched_monday_in_big_trouble

Awesome

What's more awesome is,

---But the Chinese parties then made the fatal mistake of agreeing to place some of these funds into a sort of ‘public-private partnership’ arrangement in the context of the latest Geithner wheeze which sent Wall Street investors into paroxysms of misplaced delight on 23rd March.

Guess what happened?

• The banks held onto the money. The banks would not release the funds repositioned with them by the Chinese parties, ...SNIP..

So, even as the Chinese parties were left understandably fuming and livid with anger at having AGAIN been defrauded by the crooks in the White House and the US Treasury, Timothy Geithner and Dr Ben Bernanke appeared before the House Banking Committee on Tuesday 24th March to ‘plead’ for changes in the banking regulations to permit ‘looser’ requirements – in other words, to ‘ask’ Congress to junk Basel-II (unspoken) so that the newly invested Chinese money could be legally deployed for the purpose intended by the Chinese after their arms had been twisted when they had demanded payment, or else they would exercise their lien over the Federal Reserve.

CORRUPT GOVERNMENT AND CORRUPT BANKS WORKING TOGETHER
Before we go any further, it needs to be understood that the criminal enterprise banks and the US Government ARE WORKING TOGETHER.
--SNIP--
Because the Government and the banks work together, the US authorities twisted the arms of the Chinese and persuaded them to participate in transactions KNOWING THEM TO BE ILLEGAL.

-- All very clever, very cynical, ruthless, and criminal.

SO, WHAT ARE THE CHINESE GOING TO DO ABOUT THIS CRISIS?
The central issue arising from this deplorable state of affairs can therefore be summarised in the form of the following questions:

• What are the Chinese parties intending to do, given that they have yet again been double-crossed by the US authorities but cannot blame the US authorities directly because the problem has 'arisen within the banks'?

• And how long will the Chinese parties give the Americans before they take drastic action, as is their right, to obtain satisfaction following this latest display of outrageous criminal US official and commercial banking behaviour?
--SNIP--
• When dealing with gangsters, politeness is taken for weakness, which is why the British, too, have been repeatedly taken to the cleaners by these crooks.

The Chinese, too, are extremely polite:

--It is not for us to advise (but we hereby do so!) that when dealing with the organized criminal gangsters who have long since usurped power in the United States, politeness is a waste of time.

--- These crooks have their weak spots, and the Chinese parties have more than enough intellectual resources to analyse their mentality correctly.

CONGRESS CANNOT CHANGE BASEL-II RULES! THAT’S THE POINT
Now it stands to reason that if the House Banking Committee were to have agreed to implement regulatory changes that fly in the face of Basel-II rules, any such changes, if agreed upon, would take weeks or months to travel through Congress. But the Committee could hardly consider any such departure. So what is the net result?

The banks get to keep a sizeable proportion of the Chinese trillions, which, you won’t be surprised to hear, they will be trading inside the Lombard Odier Darier Hentsch-wrapped derivatives carousel that was started up with the direct approval and very probably under the SIGNATURE of President Barack Hussein Obama – who, along with his Vice President Joseph Biden, has been talking up the Geithner Fraudulent Finance proposals that caused such an outbreak of unfettered joy on Wall Street. Which is another way of saying that President Barack Obama, Mr Timothy Geithner, Dr Ben Bernanke and Vice President Joe Biden, are co-conspirators in massive frauds.

Because in respect of the refusal of the banks to release the Chinese money that they have now effectively stolen, these operatives aided and abetted this latest outrageous theft, and it is clear from Obama’s visit to Canada, where he signed up Lombard Odier Darier Hentsch, that they knew precisely what they were doing all along.

BANKS ‘BLACKMAILING’ GOVERNMENT: BY PRIOR AGREEMENT
There is another way of looking at this – namely, that the banks are effectively BLACKMAILING the US Administration in accordance with the following equation:

• Get the regulations (Basel-II) loosened, and then we’ll think about releasing the Chinese monies.

----Because of course on Monday 23rd March, when payouts were widely expected, NOBODY WAS PAID because the banks kept all the money. The banks are holding a gun to the White House.

But on the other hand, the White House is quite content with this state of affairs because although that’s the way it looks, in reality the White House and the US Treasury are in cahoots with the banks because the primary object of everything Obama is doing is to reignite the derivatives carousel, which is the very opposite policy he should be pursuing.

TOP OFFICERS OF THE BIG BANKS SHOULD HAVE BEEN ARRESTED
The official response to the US money center banks’ seizure of the Chinese and other funds should have been to arrest all the senior officers of all the banks in question, and to do so in front of the TV cameras.

--SNIP--
Except that, having got their fingers burned yet again, the Chinese parties should surely have decided by now that there is no way they will participate in ANY further US dollar transactions whatsoever – which may be why JPMorganChase has announced that it is disposing of certain shares in ICB, a Chinese institution (code for: the Chinese told them to get out of their laundry).

If we boil all this down further, we can see not only that:

• This operation against the Chinese was a deliberate dialectical operation coordinated between the Obama-Geithner team and the money center banks;

but also that:

• The banks have annexed a great deal of Chinese (and other) money that they will now be trading illegally, while at the same time they are anticipating a ‘get out of jail free card’ for their ‘virtuous’ behaviour in being ‘unable’ to release the Chinese funds for buy-sell fraudulent derivatives trade operations because to engage in such derivatives transactions (which they do all the time anyway) under Basel-II rules, would be fraud, commanding substantial jail sentences.--SNIP--

HOW THE CHINESE REACT TO THIS U.S. SCAM IS WHAT MATTERS NOW
As we understood the situation on 25th March, the Chinese parties appear not yet to have decided how to react to this latest American official provocation. However there seems every prospect that if this hideous logjam is not broken, the Chinese will recall all debts from the dollar system. They are also talking in public about the dollar being replaced by a new international currency based on the International Monetary Fund’s Special Drawing Right (SDR) composite unit – something that cannot possibly be agreed overnight, and will take a long time to come to fruition, if it ever does. But open Chinese official talk along these lines is intended to raise the temperature of the ‘debate’,....SNIP..
MORE AT


http://worldreports.org/news/204_u.s._fraud_scheme_launched_monday_in_big_trouble

not surprised....most politicians are

Wow, what a post!

Now thats some heavy reading. Okay, Lets not forget that China was granted some imminent domain rights in this country.

If this latent theft continues, we might want to invest in learning Mandarin.