Tag Archives: bush

Greenspan, Has He Gone Native?

Once upon a time this Greenspan existed. Here is a piece he wrote when he was 41 titled GOLD AND ECONOMIC FREEDOM:

When business in the United States underwent a mild contraction in 1927, the Federal Reserve created more paper reserves in the hope of forestalling any possible bank reserve shortage. More disastrous, however, was the Federal Reserve’s attempt to assist Great Britain who had been losing gold to us because the Bank of England refused to allow interest rates to rise when market forces dictated (it was politically unpalatable). The reasoning of the authorities involved was as follows: if the Federal Reserve pumped excessive paper reserves into American banks, interest rates in the United States would fall to a level comparable with those in Great Britain; this would act to stop Britain’s gold loss and avoid the political embarrassment of having to raise interest rates.

This was included in one of my favorite books Capitalism: The Unknown Ideal. Greenspan goes on in GOLD AND ECONOMIC FREEDOM.

The "Fed" succeeded; it stopped the gold loss, but it nearly destroyed the economies of the world in the process. The excess credit which the Fed pumped into the economy spilled over into the stock market — triggering a fantastic speculative boom. Belatedly, Federal Reserve officials attempted to sop up the excess reserves and finally succeeded in braking the boom. But it was too late: by 1929 the speculative imbalances had become so overwhelming that the attempt precipitated a sharp retrenching and a consequent demoralizing of business confidence. As a result, the American economy collapsed. Great Britain fared even worse, and rather than absorb the full consequences of her previous folly, she abandoned the gold standard completely in 1931, tearing asunder what remained of the fabric of confidence and inducing a world-wide series of bank failures. The world economies plunged into the Great Depression of the 1930’s.

Fast forward 42 years and apparently Greenspan has decided that freedom, to succeed or in this case fail, is not that important anymore.

Greenspan backs bank nationalisation

The US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman, has told the Financial Times.

In an interview, Mr Greenspan, who for decades was regarded as the high priest of laisser-faire capitalism, said nationalisation could be the least bad option left for policymakers. In depth: US banks – Feb-10 Bank nationalisation gains ground with Republicans – Feb-18 Greenspan says Tarp needs boost – Feb-18

”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a hundred years this is what you do.FT.com / US / Politics & Foreign policy – Greenspan backs bank nationalisation

Apparently Greenspan has gone native. Meaning that he has become the corruption he once fought in Washington DC. He has accepted the idea that failure must be avoided. But failure is what keeps the system tuned to it’s peak. Failure is the survival of the fittest. Businesses should be allowed to fail exactly because it would encourage everyone involved to pay more attention to their finances than to what the stats are to their favorite football team. Responsibility has vanished from our land. We have accepted the idea that it is governments job to do our due diligence. We have become so naive because of our abdicating our responsibilities that we actually believe the government has our best interests at heart. My goodness that is absurd whether a R or a D follows a politicians name. Remember one of the most brilliant quotes of President Ford: “A government big enough to give you everything you want, is strong enough to take everything you have."

Of course one might wonder why anyone would be asking Greenspan his opinion since his loose credit policies have had so much to do with the collapse in our country. But naturally in our current political culture failure is rewarded. Once upon a time honor demanded that you fall on your sword if you failed.


Read these first few paragraphs of an article in the Telegraph.

“Estimates of total expected asset write-downs suggest that the budgetary costs – actual and contingent – of asset relief could be very large both in absolute terms and relative to GDP in member states,” the EC document, seen by The Daily Telegraph, cautioned.

"It is essential that government support through asset relief should not be on a scale that raises concern about over-indebtedness or financing problems.”

The secret 17-page paper was discussed by finance ministers, including the Chancellor Alistair Darling on Tuesday.

National leaders and EU officials share fears that a second bank bail-out in Europe will raise government borrowing at a time when investors – particularly those who lend money to European governments – have growing doubts over the ability of countries such as Spain, Greece, Portugal, Ireland, Italy and Britain to pay it back. European banks may need £16.3 trillion bail-out, EC dcoument warns – Telegraph

Notice anything missing? Well the more astute might notice that no figures are given. Did you know that the first version of this article did in fact mention the numbers. Did you also know that the numbers are staggering? Well one of the commenters on Digg spotted the edits and called them out on it. Here is that comment.

Wow !!! How quickly do they sanitize an article !!! The original article (updated 1:51 PM GMT) has 3 additional paragraphs that are missing from the 3:50 PM GMT update. I don’t think it is coincidence that the paragraphs that give the actual numbers were removed; those numbers were quite damning. The original article stated: "European Commission officials have estimated that impaired assets may amount to 44pc of bank balance sheet, The Commission estimates that so-called financial instruments in the ‘trading book’ total £12.3 trillion (13.7 trillion euros), equivalent to about 33pc of EU bank balance sheets. In addition, so-called ‘available for sale instruments’ worth £4trillion (4.5 trillion euros), or 11 pc of balance sheets, are also added by the Commission to arrive at the headline figure of £16.3 trillion." Those kinds of numbers can send the financial world into a full-blown panic !

Yesterday we found out that the panic in September was caused by a mysterious run on our banks to the tune of 550 billion dollars. Live Leak first uncovered this bombshell…apparently our Mainstream press couldn’t be bothered to investigate this.

Here is the transcript and the embedded video below.

At 2 minutes, 20 seconds into this C-Span video clip, Rep. Paul Kanjorski of Pennsylvania explains how the Federal Reserve told Congress members about a "tremendous draw-down of money market accounts in the United States, to the tune of $550 billion dollars." According to Kanjorski, this electronic transfer occured over the period of an hour or two.
Here is a transcript of what Kanjorski says More.. in the video:
"On Thursday Sept 15, 2008 at roughly 11 AM The Federal Reserve noticed a tremendous draw down of money market accounts in the USA to the tune of $550 Billion dollars in a matter of an hour or two.
Money was being removed electronically.
The treasury tried to help with $150 Billion.
But could not stem the tide.
It was an electronic run on the banks
The treasury intervened but had they not closed down the accounts they estimated that by 2 PM that afternoon. Within 3 hours. $5.5 Trillion would have been withdrawled and collapsed and within 24 hours the world economy."

Kanjorski does not provide further details.

A Google search to verify this produces zero results

You know details like who the FUCK DID THAT? And why the fuck doesn’t the public know about it? Why are our politicians lying and hiding?

Lame Duck? Someone forgot to tell Bush! He is sending help to Georgia via the US Military. Yikes!

Vlad might better check himself before he gets going too far along. He apparently was believing the Drive By Media and thinking that President Bush’s hands were tied. Someone forgot to tell Bush that he isn’t supposed to be able to do anything.

Bush Warns Russia on Georgia, Sends Rice to Tbilisi (Update1)

Aug. 13 (Bloomberg) — President George W. Bush said the U.S. would stand behind its ally Georgia and warned Russia that it must respect the “territorial integrity” of the Black Sea nation. A U.S. military cargo plane is heading to Georgia with relief supplies and Bush said he directed Defense Secretary Robert Gates to organize a humanitarian aid effort. Secretary of State Condoleezza Rice will travel to Georgia to confer with President Mikheil Saakashvili. Bloomberg.com: Worldwide

Now we get to watch everyone get trembly about the big bad Russians. Bunch of incompetent louts who, like muslim men, love to pick on folks who cannot fight back like women and small countries. Jesus they "tried" to bomb a pipeline. If the Russians go boo we will stomp them into the ground and that will be that…

“Want some torture with your peanuts?”…You can’t make this shit up! Sharia is starting to sound better than our Government!

My goodness if this weren’t so scary it would be funny. All of us will be wearing shock bracelets when we fly. Maybe we are closer to this than we know: “The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.” Thomas Jefferson.

By Jeffrey Denning

Just when you thought you’ve heard it all…
A senior government official with the U.S. Department of Homeland Security (DHS) has expressed great interest in a so-called safety bracelet that would serve as a stun device, similar to that of a police Taser®. According to this promotional video found at the Lamperd Less Lethal, Inc. website, the bracelet would be worn by all airline passengers (video also shown below).

This bracelet would:

• take the place of an airline boarding pass

• contain personal information about the traveler

• be able to monitor the whereabouts of each passenger and his/her luggage

• shock the wearer on command, completely immobilizing him/her for several minutes
The Electronic ID Bracelet, as it’s referred to, would be worn by every traveler “until they disembark the flight at their destination.”  Yes, you read that correctly. Every airline passenger would be tracked by a government-funded GPS, containing personal, private and confidential information, and would shock the customer worse than an electronic dog collar if the passenger got out of line. Washington Times – Politics, Breaking News, US and World News – “Want some torture with your peanuts?” by Aviation Security


Lordy Lordy…Where have all the Republicans like Dole gone?

This just about covers the story on that slimy piece of shit McClellan.


There are miserable creatures like you in every administration who don’t have the guts to speak up or quit if there are disagreements with the boss or colleagues. No, your type soaks up the benefits of power, revels in the limelight for years, then quits, and spurred on by greed, cashes in with a scathing critique.

In my nearly 36 years of public service I’ve known of a few like you. No doubt you will “clean up” as the liberal anti-Bush press will promote your belated concerns with wild enthusiasm. When the money starts rolling in you should donate it to a worthy cause, something like, “Biting The Hand That Fed Me.” Another thought is to weasel your way back into the White House if a Democrat is elected. That would provide a good set up for a second book deal in a few years.

I have no intention of reading your “exposé” because if all these awful things were happening, and perhaps some may have been, you should have spoken up publicly like a man, or quit your cushy, high profile job. That would have taken integrity and courage but then you would have had credibility and your complaints could have been aired objectively. You’re a hot ticket now but don’t you, deep down, feel like a total ingrate?


FOXNews.com – Bob Dole Calls Scott McClellan a ‘Miserable Creature’ – Politics | Republican Party | Democratic Party | Political Spectrum

Wow Bob Dole is not only destroying McClellan he is showing other Republicans how to react to stacks of shit like McClellan. Not that any of them will learn a darn thing. After all, nearly 8 years after the biggest terror attack in history we still have not:

  • Identified the enemy. (wouldn’t want to hurt Mohammed’s feelings, after all a minor not very noteworthy branch of Islam is actually peaceful)
  • Fired the incompetents (CIA, FBI, DIA) who were supposed to be watching the gates of our country to prevent this sort of attack.
  • Fired the leakers inside of our supposedly secret services who seem to revel in releasing our secrets to the media.
  • Fired the folks who managed to deftly place President Bush in the presence of not 1 convicted terrorist but 3 within a week…at a service honoring the victims of fools like those he is actually praying with.
  • Laughed the folks who say that Islam  is the religion of peace out of town.

No we have not done any of that and in fact we have done brilliant stuff like:

  • Under guidelines issued for all federal agencies by the Department of Homeland Security and based on “recommendations from American Muslims,” terms like “jihad” and “mujahedeen” are now off-limits in referring to Islamist extremist. Under guidelines issued for all federal agencies by the Department of Homeland Security and based on “recommendations from American Muslims,” terms like “jihad” and “mujahedeen” are now off-limits in referring to Islamist extremists.
  • Tried to change the name of the war from the dumb “War on Terror” to the dumber “War Against Extremism“.
  • All of this stems from the lack of balls among the Republicans. The big watch word has been working with the otherside of the aisle as if the otherside of the aisle is interested in anything other than winning. Actually if the policies of the Democrats were not such a awful disaster I would admire their tenacity and singleminded focus on winning.

    We haven’t had the focus since Ann Coulter outlined the correct strategy in the “War on Terror“…We should invade their countries, kill their leaders and convert them to Christianity. We weren’t punctilious about locating and punishing only Hitler and his top officers. We carpet-bombed German cities; we killed civilians. That’s war. And this is war.

    Naturally all the “men” over at National Review fainted when the war was defined as it should be by a beautiful woman and Ann was promptly asked to leave.

    Obama, appeasement, Bill Cosby, and shop class…Michelle Malkin Nails IT!

    Lets all stop talking about Osama/Obama’s mother…

    In Junior High in Philadelphia, one of Bill’s bright friends brought a bullet to school and informed them that if you threw a bullet in the furnace, it would explode. So of course, they planned to try that out. They picked shop class to try it out.Michelle Malkin » Obama, appeasement, Bill Cosby, and shop class

    Pre War Open Source Intelligence Regarding Saddam’s Threat to the United States

    Extensive Updates to this post apologies to all:
    What has always been tremendously frustrating for me regarding the Bush administration, was their allowing WMD’s to be portrayed as the central issue for going to war. Even though the Administration certainly made other tremendously strong arguments such as its violations of treaties and Saddam’s connections to terror they basically allowed the Press and Democrats to set those arguments aside by not defending them. There was so much available open source information that could have been used to destroy the meme of Saddam not having serious connections to terror that one must consider this to be one of the gravest errors of the war.

    Furthermore as a parent, I can assure the President that while I would be skeptical of sending my children to war for breaking some UN resolutions, show me that he was connected to terror in the ways that are obvious from the documents attached and I will cry but help them pack. That essential point was forgotten by the Lawyers who put together the reasons for going to war. The reasons did not strike a parent as being important enough to lose a child. That point is essential. Intellectual exercises may be fine stuff for debates over coffee but show me the meat when you want to send my children to war.

    Here is a letter I sent in some time ago (April 5, 2004) to the Opinion Journal that they helpfully posted.

    The Bush administration failed to pursue its strongest reason for going to war with Saddam. The ties to terrorism and al Qaeda not the WMDs should have been its focus. While Mr. Bush has been walking out to the edge of the plank looking for the WMDs the Democrats and media have been busy little bee’s sawing off the other end by falsely stating that there were no ties to al Qaeda. The Bush administration believing it had to have the sort of evidence one would bring to court to make any of the serious charges on ties of Osama bin Laden and Saddam decided to not do anything. Nature abhors a vacuum. The Democrats stepped in and defined the terms for them and now it will be almost impossible to make the case for those ties. Had that case been made early with the evidence that is available unclassified they wouldn’t have to worry about the people losing heart in the war, instead they didn’t and now people are starting to believe the nonsense about their being no ties which leads to why are we there.

    The WMD violations were always the absolute weakest way to go if you were interested in having the American people behind you. Of course they were effective in bring the U.N. along, big deal. The war will be won or lost on whether the American people understand that Iraq is central the war on terror.

    Bring out the evidence, explain to the people that intelligence does not provide you with courtroom quality evidence, but that the evidence of the al Qaeda and Saddam being linked goes back a long way. Then immediately respond to the unnamed sources, the fight for the hearts and minds of the American people is the most important fight yet. Do not allow disgruntled employees to destroy the war on terror.”Ultimately this was my response to 9/11 to scour open source material looking for connections. Here is a taste of the introduction to that page.

    Bring out the evidence, explain to the people that intelligence does not provide you with courtroom quality evidence, but that the evidence of the al Qaeda and Saddam being linked goes back a long way. Then immediately respond to the unnamed sources, the fight for the hearts and minds of the American people is the most important fight yet. Do not allow disgruntled employees to destroy the war on terror.”Ultimately this was my response to 9/11 to scour open source material looking for connections. Here is a taste of the introduction to .This list started for me as basically just an area to drop links that I found interesting. That something like this has been so easy to put together is testament only to the base motives of those who say there were no links between Al Queda and Saddam. It is simply impossible to hold the view that there were no links with an honest appraisal of these connections. Furthermore to continue to hold the view that there were no links exposes you as one of three things, minority political party, traitor or idiot, which are you? It is possible to be all three, indeed in my prejudiced view it is likely.

    UPDATE: Some editing done to make this a bit clearer. Also a note regarding several items that David Corn mentioned in regards to this call for articles by OSM. Let me also commend David for asking a terrific question during the OSM launch party. Why wasn’t George Tenet fired. I suspect that David has different reasons for wanting him fired than I but regardless its worthy that we both agree that he should have never received a Medal of Freedom.

    David declared that if the left could not prove that the Pre War intelligence was misrepresented by the Bush administration that they simply weren’t trying hard enough, interesting. He specifically praised Carl Levin’s post on his website regarding Pre War fabrications by the Bush administration. Let’s take a look at them.

    From Carl Levin’s site with my response to the right. Now some may quibble with the fact that none of this constitutes proof, to that I would answer you are absolutely correct. None of the CIA, FBI or DIA or even Foggy Bottom evidence constitutes proof…heh. Furthermore I do believe that Saddam was tied to the 9/11 attacks and am not shy of saying so.

    Issue: Iraq Ties to al-Qaeda

    Administration Statements Before the War

    President Bush: You can’t distinguish between al Qaeda and Saddam when you talk about the war on terror. September 25, 2002, Photo Opportunity with President Uribe of Colombia

    President Bush: Saddam Hussein would like nothing more than to use a terrorist network to attack and to kill and leave no fingerprints behind . – January 31, 2003, Remarks with Prime Minister Tony Blair

    On the aircraft carrier USS Abraham Lincoln, where the banner said Mission Accomplished, on May 1, 2003, President Bush said We’ve removed an ally of al Qaeda .

    What the Intelligence Community Said Before the War (now declassified)

    “Saddam’s regime is intensely secular and is wary of Islamic revolutionary movements. Moreover, Baghdad is unlikely to provide assistance to a group it cannot control.” (emphasis added)” February 2002, Defense Intelligence Agency, Defense Intelligence Terrorism Summary

    This paper’s conclusions especially regarding the difficult and elusive question of the exact nature of Iraq’s relations with al-Qaida are based on currently available information that is at times contradictory and derived from sources of varying degrees of reliability (emphasis added) “ CIA report Iraqi Support for Terrorism, January 2003

    Iraq probably would attempt clandestine attacks against the US Homeland if Baghdad feared an attack that threatened the survival of the regime were imminent or unavoidable, or possibly for revenge…. Saddam, if sufficiently desperate, might decide that only an organization such as al-Qa’ida … could perpetrate the type of terrorist attack that he would hope to conduct. In such circumstances, he might decide that the extreme step of assisting the Islamist terrorists in conducting a CBW attack against the United states would be his last chance to exact vengeance by taking a large number of victims with him. (emphasis added) – October 1, 2002, National Intelligence Estimate on Iraq’s Continuing Programs for Weapons of Mass Destruction

    What we amateurs know from super top secret open source information that somehow eludes the CIA,DIA and FBI. Superduper top secret info here

    We must wonder exactly where this information came from if the CIA was so hampered by its lack of adequate HUMIT (Human Intelligence) that it had to ask a washed out Ex-Ambassador to go on a sensitive mission to Niger. It’s not often that a Vice President will ask for specific information, when that does happen usually competent Intelligence Operations will send their best. We have three choices here. Joe Wilson was the best person to send or the CIA wanted to sabotage the President by sending a hack or the CIA simply did not have anyone else to send. I pick the last two…

    The CIA was especially capable of massive sorts of failures in relation to Iraq. Consider how often it is that an Intelligence arm is so incompetent that it’s attempt to overthrow a government not only fails with all the operatives captured but its own super duper top secret communications gear is captured and used to inform them of the plots failure. Welcome to the CIA of the 90’s.

    But enough pounding on the hapless CIA. Since I don’t have any HUMIT either lets just consider these facts.

    1. Saddam himself threatened us prior to the invasion of Kuwait. Specifically with single individuals…Everyone can cause harm according to their ability and their size. We cannot come all the way to you in the United States, but individual Arabs may reach you.
    2. Saddam’s attempted assassination of Former President Bush had all the earmarks not of a rational head of state but of a typical terrorist operation. Car bomb meant to murder hundreds including Laura Bush.
    3. My Super Secret star spy Christopher Dickey from Newsweek was at what he described as a terrorist convention in Baghdad. In his own words: So Islamic radicals from all over the Middle East, Africa and Asia converged on Baghdad to show their solidarity with Iraq in the face of American aggression. Chechens in Persian-lamb hats, Moroccans in caftans, delegates who hailed “from Jakarta to Dakar,” as one Senegalese put it, poured into Baghdad’s Rashid Hotel, where Saddam’s minions urged them to embrace jihad as “the one gate to Paradise.” And the greatest holy warrior of all? “The mujahed Saddam Hussein, who is leading this nation against the nonbelievers,” they were told. “Everyone has a task to do, which is to go against the American state,” declared Saddam’s deputy Ezzat Ibrahim…That was in January 1993. I was there, and every time I hear diplomats and politicians, whether in Washington or the capitals of Europe, declare that Saddam Hussein is a “secular Baathist ideologue” who has nothing to do with Islamists or with terrorist calls to jihad, I think of that afternoon and I wonder what they’re talking about. If that was not a fledgling Qaeda itself at the Rashid convention, it sure was Saddam’s version of it.
    4. The last estimate given by our vaunted Intelligence Agencies, the same ones who managed to allow our National Military Headquarters to be hit by terrorists is sort of funny in a sick way. Saddam wouldn’t be caught dead hanging around terrorists until they thought he believed he needed them. So then their entire thesis revolves around when he might believe he was sufficiently threatened, THEN he would use them. We pay these analysts alot of money?

    Issue: Issue: Alleged Atta Meeting in Prague with Iraqi

    Administration Statements Before the War

    Vice President Cheney: It’s been pretty well confirmed that he [Mohammed Atta] did go to Prague and he did meet with a senior official of the Iraqi intelligence service in Czechoslovakia last April, several months before the attack. – December 9, 2001, NBC Meet the Press

    Vice President Cheney: Mohammed Atta, who was the lead hijacker, did apparently travel to Prague on a number of occasions. And on at least one occasion, we have reporting that places him in Prague with a senior Iraqi intelligence official a few months before the attack on the World Trade Center…. Tim Russert: What does the CIA say about that? Is it credible? Vice President Cheney: It’s credible. – September 8, 2002, NBC Meet the Press

    (In January 2004, Vice President Cheney said: We did have reporting that was public, that came out shortly after the 9/11 attack, provided by the Czech government, suggesting that there had been a meeting in Prague between Mohammed Atta, the lead hijacker, and a man named al-Ani, who was an Iraqi intelligence official in Prague, at the embassy there, in April of ’01, prior to the 9/11 attacks¦ That’s the one that possibly tied the two together to 9/11 .- interview with the Rocky Mountain News, January 9, 2004 )

    What the Intelligence Community Said Before the War (now declassified)

    Reporting is contradictory on hijacker Mohammed Atta’s alleged trip to Prague and meeting with an Iraqi intelligence officer, and we have not verified his travels .(emphasis added) – June 21, 2002, CIA Report Iraq and al Qaida: Interpreting a Murky Relationship

    Some information asserts that Atta met with IIS chief¦ al-Ani, but the most reliable reporting to date casts doubt on this possibility. A CIA and FBI review of intelligence and open-source reporting leads us to question the information [deleted] claimed that Atta met al-Ani. (emphasis added) – January 29, 2003, CIA Report Iraqi Support for Terrorism

    What we amateurs know from super top secret open source information that somehow eludes the CIA,DIA and FBI. Superduper top secret info here

    Well not only do know that Atta went to Prague several times, not the once that many try to claim, but we now also have in our hands Al Ani’s Appointment book that was acquired by Czech Intelligence after the war. That digest shows a meeting with the “Hamburg” student on the day that Atta was reported to have met with Al Ani.Atta was well known at the Hamburg student.

    Keep in mind that while the CIA and FBI may question whether Atta was at that meeting the Czech Foreign Service has none.

    It is also worth noting that both the FBI and CIA are not the all knowing fearsome weapons of brilliance we have all hoped they were. Matter of fact that the CIA was reduced to sending Joe Wilson to Niger says a bunch about their abilities.

    Finally much of the doubt that the FBI and CIA have about the Atta Meeting revolves around timelines. ABLE DANGER destroyed the timelines that the FBI and CIA have been trying to sell. One of the reasons that ABLE DANGER is such a threat to most of the Washington establishment, both on the right and left.

    In closing this extensive post let me again remind you that I am but a mere amateur at this and do not claim to have any special knowledge or abilities. Perhaps many of you are saying that is obvious, that is fine with me. This has always been done by me simply as a way to understand in a small way the forces that are threatening my family. After a while it became clear that while its obvious that there are divisions in Washington between Democrat, Republican, Left and Right there is another group that we as common citizens would do well to remember. The government itself is a group of that see’s its self interest at times as avoiding the responsibility of close analysis and acts upon it. Both the left and right engage in this theater, sometimes on the same side of the fence across from us. I believe that much of the 9/11 Commission was theater intended to distract our attention from the grievous failures of our own government. Failures that have not stopped nor has there been much of an attempt to correct. We are in peril in our ignorance.

    Connections and Collaborations Saddam and Al Queda Terrorism Iraq Middle Bush
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