disaster lottery

Some possible connections...

Ellen Brown: How brokers became bookies, the insidious transformation of markets into casinos

A massive new derivatives market that could be highly destructive economically is the trading platform called Carbon Credit Trading, which is on its way to dwarfing world oil trade. The program would allow trading in “carbon allowances” (permitting companies to emit greenhouse gases) and in “carbon offsets” (allowing companies to emit beyond their allowance if they invest in emission-reducing projects elsewhere). It would also allow trading in carbon derivatives; for example, futures contracts to deliver a certain number of allowances at an agreed price and time.

The players - partial list:

The proposed form of cap and trade has not yet been passed in the U.S., but a new market in which traders can speculate on the future of allowances and offsets has already been launched. The largest players in the carbon credit trading market include firms such as Morgan Stanley, Barclays Capital, Fortis, Deutsche Bank, Rabobank, BNP Paribas, Sumitomo, Kommunalkredit, Credit Suisse, Merrill Lynch and Cantor Fitzgerald. Last year, the financial services industry had 130 lobbyists working on climate issues, compared to almost none in 2003. The lobbyists represented companies such as Goldman Sachs and JPMorgan Chase.

They need a new derivatives market to replace the old derivatives market. Everything is broken.

[UPDATE: Christopher Jon Bjerknes on these videos:

A friend has emailed me a link to a video of the Jew whose real name begins with "Paul Rupert", but who calls himself "Muhammad Rafeeq", in which he shows his face. Why does he show his face, but does not tell us his name? Note that his roots in the "City" of London, the Rothschild dominated banking district of England, are again revealed in the description of the videos:]

Part 2

Part 3

Via Kevin Boyle.

^^^^^^^


Last Friday night Goldman revealed that bailout cash went to 32 entities, some of them foreign.

Goldman Sachs sent $4.3 billion in federal tax money to 32 entities, including many overseas banks, hedge funds and pensions, according to information made public Friday night.

Goldman Sachs disclosed the list of companies to the Senate Finance Committee after a threat of subpoena from Sen. Chuck Grassley, R-Ia. Asked the significance of the list, Grassley said, "I hope it's as simple as taxpayers deserve to know what happened to their money."

He added, "We thought originally we were bailing out AIG. Then later on ... we learned that the money flowed through AIG to a few big banks, and now we know that the money went from these few big banks to dozens of financial institutions all around the world." Grassley said he was reserving judgment on the appropriateness of U.S. taxpayer money ending up overseas until he learns more about the 32 entities.

Goldman Sachs (GS) received $5.55 billion from the government in fall of 2008 as payment for then-worthless securities it held in AIG.

Restated: Our congress people used our money to buy worthless betting slips -- the derivatives -- in order to help their bankster friends.

Goldman had already hedged its risk that the securities would go bad. It had entered into agreements to spread the risk with the 32 entities named in Friday's report.

Which was contrary to public policy as well as, incidentally, being totally unnecessary. (See Geronimo Manifesto: Credit Default Swaps -  The Insane Problem and the Radical but Sane Solution)

Overall, Goldman Sachs received a $12.9 billion payout from the government's bailout of AIG, which was at one time the world's largest insurance company.

Goldman Sachs also revealed to the Senate Finance Committee that it would have received $2.3 billion if AIG had gone under. Other large financial institutions, such as Citibank, JPMorgan Chase and Morgan Stanley, sold Goldman Sachs protection in the case of AIG's collapse. Those institutions did not have to pay Goldman Sachs after the government stepped in with tax money.

US taxpayer money went to foreign banks. Some of the players:

The list of companies receiving money includes a few familiar foreign banks, such as the Royal Bank of Scotland and Barclays. DZ AG Deutsche Zantrake Genossenschaftz Bank, a German cooperative banking group, received $1.2 billion, more than a quarter of the money Goldman paid out.

At the direction of Tim Geithner, who was rewarded for his treachery to the American people with a big promotion.

AIG received the bailout of $85 billion at the discretion of the Federal Reserve Bank of New York, which was led at the time by Timothy Geithner. He now is U.S. treasury secretary.

Regrettable. What to do? Simples! Conduct a hazing ritual which will embarrass a few people without causing any lasting damage, and which enforces the rules of the fraternity.

U.S. Rep. Bruce Braley, a Waterloo Democrat, said he would propose that the House subcommittee on oversight and investigations convene hearings on the need for more Federal Reserve oversight. Braley is a member of the subcommittee.

Hazing. Always embarrassing, rarely fatal.

^^^^^^^

Meanwhile, the oil spills continue. A new one in Michigan:

Why are oil spills suddenly occurring constantly, all over the world? Just this year, the environment has taken an unprecedented beating, from the oil industry alone. There's now a leak of an oil pipeline in the Kalamazoo River, Michigan. So far, an estimated 840,000 gallons of oil has gushed into a creek that directly flows into the river.

source

A coincidence that competing currency is being accepted across mid-Michigan?

New types of money are popping up across Mid-Michigan and supporters say, it's not counterfeit, but rather a competing currency.
..."Do people have to accept dollars or money? No, they don't," Gillie said. "They can accept anything they want or they can refuse to accept anything."

He's absolutely right.

The U.S. Treasury Department says the Coinage Act of 1965 says "private businesses are free to develop their own policies on whether or not to accept cash, unless there is a state law which says otherwise."

That's the kind of idea that, if it caught on, could Ruin Everything, if you know what I mean.

Update on the Oil Spills -- All of Them, by Jeffrey Kluger of TIME -- last paragraph:

The Gulf's other two recent leaks are also comparatively minor—and comparatively common—and would not be making news at all if not for the BP elephant that's been in the room for more than 100 days now. But that's just the point. The only way to slake our thirst for oil is to continue to engage in industrial practices that are inherently dirty, unreliable and extremely dangerous. The only way to avoid the problem is either to invent a magic bullet that satisfies all our energy demands spotlessly and cheaply or to count on our legislators to cowboy up and pass the tough legislation necessary to price carbon, cap emissions and encourage the development of clean renewable technologies like wind and solar. For now, the safer bet is on  the magic.

Those are the ONLY TWO OPTIONS according to Jeffrey Kluger, distinguished senior editor at TIME magazine.

1) Invent a magic bullet energy solution that is perfect.


OR


2) Count on our corrupt legislators to do the "tough" thing and pass the cap and trade legislation that the banks want.

Hmm. What do you think will happen? There's really No Choice, and my friends, THAT'S the point.

So in addition to causing all sorts of illness around the Gulf, [with symptoms that are hard to distinguish from Dengue Fever, which is also REGRETTABLY appearing in South Florida simultaneously, and which will maybe be linked to Global Warming?, and which is justifying greatly increased mosquito spraying (and can a new vaccine be far behind?)...], the oil spills bolster the case for passing cap and trade!


WIN WIN WIN WIN WIN WIN!!