This is a chilling story.
A woman sets up (or tries to set up) a group to keep an eye on voter fraud and the federal government comes down on her.
Cathrine Englebrecht is not a woman of vast means and it appears that the feds sought to make life as difficult they could on both the business and political fronts. Her group Truth the Vote filed for tax exempt status 3 years ago and has yet to get the OK. Her business has been fined by OSHA, her group has been publicly lambasted by Senator Barbara Boxer. Life has been made pretty difficult, all because (it appears) Ms. Englebrecht wanted to make sure dead people and unregistered people weren’t voting.
(From The National Review)
Before the Engelbrecht family’s three-year ordeal began, Catherine says, “I had no real expectation or preparation for the blood sport that American politics is.” Sounding weary on the phone, she continues: “It’s all been a through-the-looking-glass experience.”
Cleta Mitchell, a lawyer who specializes in representing conservative organizations, says that the Engelbrecht family’s experience is “just the tip of the iceberg. . . . I think there’s definitely a Chicago-politics-style enemies list in this administration, and I think it permeates this branch of the federal government.”
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For ten years the U.S. Central Intelligence Agency has been dropping off bags of money for Afghan president Hamid Karzai, who is grateful for the monthly cash deliveries. The revelation sparked a protest from Rep. Jason Chaffetz of Utah, who told the New York Times “I thought we were trying to clean up waste, fraud and abuse in Afghanistan. We have no credibility on this issue when we’re complicit ourselves. I’m sure it was more than a few hundred dollars.”
It was actually tens of millions of dollars and “used to pay off warlords, lawmakers and others whose support the Afghan leader depends upon.” The record of this “leader”suggests the money is not well spent.
Hamid Karzai is “one of the most unreliable allies we’ve ever had,” notes Bob Woodward of the Washington Post, author of Obama’s Wars. “Karzai is a diagnosed manic depressive, somebody who has mood swings. Sometimes it’s controlled, sometimes it’s not. If you just look at what he has said in public and on the record, you know, one moment he’s totally embracing us, the next moment he’s denouncing the United States.”
Karzai does not command loyalty and has been unable to prevent insider attacks by Afghan government forces against American troops. Two years ago Col. Ahmed Gul killed eight U.S. airmen and one civilian adviser. Last year Afghan soldiers and police officers killed 62 NATO soldiers and the Taliban now threatens a surge in such insider attacks. More U.S. dollars to Hamid Karzai will not prevent such attacks and only contribute to waste, fraud and abuse in Afghanistan.
The CIA, meanwhile, came across rather well in the film Zero Dark Thirty, tracking down terrorist impresario Osama bin Laden. If other CIA heroism remains unexposed, so doubtless do other fiascoes like Hamid Karzai’s monthly payment plan, funded by embattled U.S. taxpayers.
View full post on MyGovCost | Government Cost Calculator
April 23, 2013
Tsarnaev the Fraud
By Jan LaRue
Dzhokhar Tsarnaev should be tried by a military commission at Guantanamo Bay rather than in U.S. federal court on charges related to the Boston Marathon bombing. Naturalized American citizenship obtained by fraud is revocable.
There is Supreme Court precedent for revoking naturalized citizenship based on swearing a false oath of allegiance. See Knauer v. United States (1946); Perez v. Brownell ("Of course, naturalization unlawfully procured can be set aside."); and Fedorenko v. United States.
Moreover, during WWII, a German soldier who claimed naturalized U.S. citizenship but had gone back to Germany changed into civilian clothes after landing on U.S. soil from a German submarine with the intent of engaging in espionage and sabotage. The Supreme Court held in Ex Parte Quirin, that his claim of American citizenship and the right to trial in civil court was irrelevant to his confinement in a military brig as an unlawful belligerent in violation of the rules of war.
Back in the day, The New York Times opined that a military tribunal was the fitting venue for the Americans charged with conspiring to assassinate Abraham Lincoln. And so they were.
So far, the Obama administration hasn’t announced when or where charges will be filed. The odds are that it will be a prolonged and costly civil trial in federal court with threats and disruptions to the city where a civil trial is held.
Seven months after becoming a U.S. citizen on Sept. 11, 2012, Tsarnaev faces charges of committing terrorist acts against "his" country, in addition to murder, mayhem, and numerous other felonies.
Are we to believe that it was after swearing his oath of "true faith and allegiance to the United States of America" not one year ago, that "Dzhokhar the Innocent" was brainwashed and provoked by his older brother, Tamerlan, into murdering, maiming and terrorizing fellow Americans?
More likely, the bombing was planned prior to Tsarnaev becoming a "citizen." He sought the privileges of citizenship to have an advantage in the event that he was captured and prosecuted.
Both Mother Jones.com and Forbes.com report that Tsarnaev maintained the Twitter account identified as "J_star." Consider his anti-American tweets prior to taking the oath of citizenship:
Just seven months before becoming naturalized Jahar @J_tsar posted on March 14, 2012, "a decade in America and I want out." There aren’t any posts indicating a change of heart.
Ten days before swearing his "allegiance" to the U.S., Jahar @J_tsar tweeted on Sept. 1, 2012 came out as a "truther":
"Idk why it’s hard for many of you to accept that 9/11 was an inside job, I mean I guess [f***] the facts y’all are some real #patriots #gethip.
Seven months after swearing allegiance to the United States, Tsarnaev lies in a Boston hospital with bullet holes from a gunfight with police who pulled him from a boat in a backyard where he was hiding. Eyewitnesses and videotapes link his cowardly terrorist acts from the bullets on Friday to the bombs in Boston on Monday.
As usual, we’re hearing the liberal victimization meme that 19-year-old Tsarnaev, who drove a car over his brother, is just a regular American kid led astray while grieving over injustice in his homeland of Chechnya, and should be afforded all of the rights of citizenship.
Tsarnaev should be confined and interrogated in Gitmo as an illegal enemy combatant. His confinement should be defended against a writ of habeas corpus on that basis along with a complaint to revoke his fraudulent citizenship.
Statistics: Posted by yoda — Tue Apr 23, 2013 12:29 am
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The federal food stamp program—now called SNAP—is attracting a lot of media coverage. One reason for this is that the program’s costs have exploded—spending more than quadrupled during the Bush-Obama years to $82 billion in 2013 (see here and here p. 16). The Clinton, Bush, and Obama administrations all took steps to loosen the purse strings on food stamp eligibility, and those changes have led to the ballooning costs of recent years during the stagnant economy.
Aside from the rising costs, two other aspects of SNAP have garnered interest. One is food stamp fraud. The other is the program’s “Twinkie problem”: taxpayers are paying for billions of dollars of junk food, which seems like a huge waste of money to most people.
These two issues have come together in a high-profile effort by a group of media organizations that is demanding greater transparency in SNAP operations. The organizations—led by the Association of Health Care Journalists (AHCJ)—have sent a letter to Agriculture Secretary Tom Vilsack (whose agency oversees SNAP) asking for full disclosure about where food stamps are being spent and what they are being spent on. The Daily Caller reports on the issue here.
Let’s look at the fraud issue. The government claims that the food stamp trafficking rate is just 1 percent and the general overpayment rate is just 4 percent. I suspect that the real rates are much higher, for three reasons: First, the overall costs of SNAP and the number of beneficiaries have skyrocketed. Second, SNAP is ideally suited for abuse: the USDA has few investigators to police the roughly 200,000 SNAP retailers, any of whom could be scamming the system. Third, overpayment rates on other federal subsidy programs are often around 10 percent. Medicare and Medicaid overpayments are in that range, for example, and overpayments have long been around 20 percent in the EITC program.
The AHCJ-led effort is asking the USDA to release data on food stamp purchases by retail outlet. This would be a very useful resource for investigators across the nation to help the government reduce waste and fraud. Are food stamps being cashed in at liquor stores? Which corner stores have unusually high food stamp usage? Let’s get detailed SNAP data on the Internet and allow journalists and the public to help answer these questions. After all, scandal after scandal illustrate that the federal government is lousy at policing programs itself.
The journalists are also asking the USDA to provide detailed breakdowns of the types of food being purchased with SNAP money. It’s remarkable that in an era of Bloomberg-style efforts to restrict private food choices, the government itself runs a giant $82 billion program that subsidizes junk food. How much junk food? We don’t know, and that’s what many journalists want to find out.
Food stamps can be used to purchase just about any edible item other than alcohol, hot food, restaurant meals, and live animals. The USDA explains the rules here and specifically notes that “soft drinks, candy, cookies, snack crackers, and ice cream” are allowed.
Many health experts would like to ban junk food purchases in the food stamp program because they want Americans to eat more nutritious food. I’m a libertarian, so I don’t want the government telling people what to eat. But I think banning junk food in SNAP would be a good step for a different reason: it would greatly reduce demand for the program and thus cut taxpayer costs. If we told the 48 million users of food stamps that they could only use their electronic subsidy cards to buy items like spinach and broccoli, a lot fewer people would use the program and they would buy less stuff.
Why has the USDA been stonewalling journalists on providing SNAP program data? I’m guessing that federal officials don’t want to be embarrassed about: 1) how much taxpayer money goes toward junk food, and 2) the endless series of stories about SNAP fraud that would likely be generated if journalists could explore the program’s operational details.
Optimally, SNAP should be terminated altogether and food subsidy activities left to the states—or better, to private charities. But until that reform happens, the current effort to pry open the workings of this giant hand-out program would be big step in the right direction.
Some links of interest:
A leaked database of food stamp usage in Massachusetts. This is the type of data that should be released nationally by the USDA.
A study on the corporate lobbying surrounding food stamps. This liberal group doesn’t want to cut spending, but it provides an excellent summary of the junk food issue, transparency, and the benefits of SNAP to the banking industry.
WaPo columnist Charles Lane on SNAP junk food.
My overview of federal food subsidies.
View full post on Cato @ Liberty
Radioactive Fraud: Company overcharged taxpayers for cleanup of hazardous waste, Gave big money to Senator.
A story of nuclear waste and tax dollar waste, a company which was contracted to clean up radioactive refuse has been overcharging taxpayers (by a lot) for over a decade. In 2009 however the times got particularly good when the stimulus train came through town. It dropped off $1.9 billion, with a little help from friends in high places.
(From The Washington Free Beacon)
A politically connected engineering company that received massive stimulus contracts has admitted that workers committed widespread fraud under the encouragement of its executives while working on a major taxpayer-funded nuclear cleanup effort.
Employees of CH2M Hill routinely inflated hours worked on the cleanup effort at the Hanford nuclear waste site in Washington state between 1999 and 2008. Company executives sanctioned those violations in order to obtain bonuses that required certain performance benchmarks, according to anagreement between the company and the Justice Department filed in federal court on Friday.
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Indian-American jailed for 17 years for healthcare fraud
PTI | Feb 3, 2013, 12.08 PM IST
WASHINGTON: An Indian-American pharmacist has been sentenced to 17 years in prison by a US court for a healthcare fraud worth millions.
Babubhai (Bob) Patel, 50, who owned and operated 26 pharmacies across metro Detroit, was sentenced in Michigan court, five months after a jury convicted him of billing the government for more than USD 57 million for painkillers that were medically unnecessary or never provided.
The government said he paid doctors to write the orders and had recruiters offer cash to poor people in exchange for their Medicare or Medicaid number.
He was arrested on August 2, 2011. In addition to 17 years of imprisonment, the court also ordered Patel to pay restitution to the Medicaid and Medicare programs in the amount of USD 17.3 million, and restitution to Blue Cross Blue Shield in the amount of USD 1.5 million.
In sentencing the defendant, the court told the defendant that "what you have done is reprehensible."
The criminal conduct engaged in by other health care fraud violators sentenced by the court was "small scale compared to this."
According to evidence presented during a six-week jury trial concluding in August 2012, Patel between 2006 and 2011, billed Medicare and Medicaid more than USD 57 million.
At least 25 per cent of those billings were for drugs that were either medically unnecessary never dispensed.
Additional amounts were fraudulently billed to private insurers such as Blue Cross Blue Shield of Michigan.
The pharmacies operated on a business model that paid kickbacks to physicians in exchange for writing prescriptions for expensive medications, the Justice Department said.
The affiliated doctors would also write prescriptions for controlled substances, without regard to medical necessity, which would be filled at the pharmacies and distributed to paid "patients" and patient recruiters.
The expensive non-controlled medications would be billed but not dispensed.
Earlier this week, the US court sentenced an Indian Canadian (Brijesh Rawal) and two Indian nationals – Ashwini Sharma and Lokesh Tayal — to 68 months of imprisonment for their participation as pharmacists in these criminal offenses.
They will be deported to their country of their citizenship upon the completion of their sentences.
Statistics: Posted by yoda — Sun Feb 03, 2013 11:58 pm
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New additions increase number of records in USP food fraud database by 60 percent
Seafood, clouding agents and lemon juice among foods vulnerable to fraud
Rockville, Md., January 23, 2013 — Nearly 800 new records of "food fraud" added to the U.S. Pharmacopeial Convention’s (USP) Food Fraud Database present new information about foods that are vulnerable to fraudulent manipulation in today’s food supply. The first iteration of the database compiled 1,300 records of food fraud published between 1980 and 2010. The update increases the total number of records by 60 percent—and consists mostly of newer information published in 2011 and 2012 in both scholarly journals and general media.
Initial analyses of the database by USP food scientists was published in the April 5, 2012, Journal of Food Science. This research revealed that milk, vegetable oils and spices were among the top categories where food fraud occurred as documented in published reports. Analyses of new information by USP scientists show similar trends for 2011 and 2012, and add seafood (fish, shrimp), clouding agents and lemon juice as categories vulnerable to food fraud.
Food fraud is a collective term that encompasses the deliberate substitution, addition, tampering or misrepresentation of food, food ingredients or food packaging, or false or misleading statements made about a product for economic gain. A more specific type of fraud, intentional or economically motivated adulteration of food ingredients, has been defined by USP as the fraudulent addition of nonauthentic substances or removal or replacement of authentic substances without the purchaser’s knowledge for economic gain to the seller.
"While food fraud has been around for centuries, with a handful of notorious cases well documented, we suspect that what we know about the topic is just the tip of the iceberg," said Dr. Jeffrey Moore, senior scientific liaison for USP and the database’s creator and lead analyst. "The idea behind the database was to shed some light on this largely uncharacterized space by collecting and analyzing the fragmented information in the public domain reported by scholars, regulators and media. Ultimately, we hope the database can be used as a tool by food manufacturers, regulators, scientists and others worldwide to help achieve a safer food supply—whether by providing more complete knowledge of known and potential threats, spurring new research and development of more accurate detection methods for potential adulterants, increasing awareness on the part of consumers, lawmakers and others, or by any other means that makes it more difficult on a practical level for parties to engage in this unscrupulous and harmful activity—which is both a public health and business threat."
USP is a nonprofit, scientific organization that publishes the Food Chemicals Codex (FCC), an international compendium of standards offering specifications for the identity, quality and purity of food ingredients used worldwide. FCC results from the decision-making of the USP Council of Experts’ Food Ingredients Expert Committee (chaired by Dr. Andrew Ebert). USP staff scientists worked with scientific experts from this Expert Committee and others to advance the USP Food Fraud Database.
Fraudulent Food Products and Ingredients
Among the new scholarly records added to the database, the top ingredients represented are olive oil, milk, saffron, honey and coffee (all in the top seven in the analysis of 1980-2010 records), followed by tea, fish, clouding agents (commonly used in fruit juices/beverages to improve their visual appearance and make products look freshly squeezed) and black pepper—none of which was in the top 25 for 1980-2010. Among the new media and other reports examined, the most-represented products in the database are milk, fish, turmeric, chili powder and cooking oil (all in the top 12 in 1980-2010), followed by shrimp, lemon juice and maple syrup (none of which was even in the top 25 in 1980-2010). Examples of fraud include:
Milk, Vegetable Oils and Spices: In three areas of ongoing concern, the database indicates watered-down and urea adulterated fluid milk in India, dilution of milk powder with fillers such as maltodextrin in South America and replacement of milk fat with vegetable oil in South America. In the category of oils, olive oil replaced with other, less-expensive vegetable oils was pervasive, and so-called "gutter oil" (waste oil repurposed as cooking oil) was documented in China. With regard to spices, the database shows examples of the dilution or replacement of spices with less-expensive spices or fillers.
Seafood: With $80 billion in seafood sold in the U.S. each year and more than 80 percent of fish in the country imported, seafood is big business—and fraud is a significant problem. Examples of seafood fraud documented in the database include sale of the fish escolar, often fraudulently mislabeled as white tuna or butterfish. Escolar is banned in Italy and Japan, and other countries have issued advisories on the trade and consumption of this fish. Escolar has high content of waxy esters that is likely to cause a special form of food poisoning called gempylotoxism or gempylid fish poisoning. Another example of seafood fraud included in the database involves puffer fish, with documented incidents in the U.S. of the fish being mislabeled as monkfish to evade import and other restrictions. Puffer fish has caused tetrodotoxin poisonings in the U.S. and elsewhere. "Seafood is an example where food safety controls are species-specific, making replacement of one fish with another especially troublesome," Moore stated.
Clouding Agents: Considered the 2011 equivalent to the melamine scandal involving Chinese milk products from a few years ago, numerous database records document the plasticizer Di(2-ethylhexyl) phthalate (DEHP) and other related phthalates as having been fraudulently added as clouding agents in place of the more expensive palm oil or other allowed food ingredients in fruit juices, jams and other products. The scope of this fraud was vast: 877 food products from 315 companies were involved; 206 products were exported to as many as 22 countries; and there were roughly 4,000 potential victims in Taiwan. Safety concerns surrounding DEHP include cancer and the improper reproductive organ development in children. DEHP may be used in food contact materials (e.g., seals, packaging), however the amount allowed to migrate into the food is tightly regulated as to not exceed approximately 1.5 ppm; levels in reported examples of food fraud were found from 2-34 and 8,700 ppm in food and supplement products, respectively. The fraudulent replacement of clouding agents may have been ongoing for years, but as with other food frauds, it is often difficult to detect fraud when no immediate illness occurs. However, as illustrated in this episode, severe health repercussions may still result from consumer consumption of an undetected harmful adulterant over an extended period.
USP is actively seeking outside additions to the database. To add to the database or to search this free resource, visit www.foodfraud.org. Media inquiries may be directed to firstname.lastname@example.org.
USP – Advancing Public Health Since 1820
The United States Pharmacopeial Convention (USP) is a scientific, nonprofit, standards-setting organization that advances public health through public standards and related programs that help ensure the quality, safety, and benefit of medicines and foods. USP’s standards are relied upon and used worldwide. For more information about USP visit http://www.usp.org.
Statistics: Posted by yoda — Wed Jan 23, 2013 11:29 am
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December 30, 2012
How Chicago and Obama Globalized Voter Fraud
By Michael Bargo Jr.
Chicago has a long tradition of padding its vote totals by placing homeless and deceased persons on its voter registration list. Jim Laski, who once served as the City Clerk of Chicago, second in power only to the mayor, noted in his book My Fall From Grace that fraudulent voters were registered to addresses that included cemeteries, municipal buildings, and taverns. The taverns, at least, are understandable: politically connected city workers spent so much time on bar stools the Board of Elections thought they lived there.
Other voters who had died or moved away were also on the voter registration list. Once again, the tendency for the dead to vote in Chicago can be easily explained: the dead cannot be expected to walk to City Hall and remove themselves from the registered voter list. Everyone in Chicago knows they can only walk as far as the local polling place. This tradition was verified in 1983 when the registered voter list was examined and it was found that 3,000 had either died or moved away.
Since 1985 Chicago has pioneered new ways to promote illegal immigration. After 1990 the illegal immigrant population in Chicago and the nation skyrocketed. As illegal immigrants flocked to Chicago, a method was needed to get them on the registered voter list. Although 80,000 illegal aliens voted in 1982, the old-fashioned way, through vote fraud; by 2005 both Cook County and the state of Illinois had moved to allow photo I.D. to be given to illegal immigrants by passing matricula consular laws.
By allowing the matricula consular to function as an official photo I.D., Illinois and Chicago can say they are conforming to any Voter ID requirement. But the Cook County law (most Illinois illegal immigrants live in Cook County) also allows the consulates of Mexico and "any other Latin American country" to issue the consular I.D.s at their discretion. In effect, Illinois has enabled foreign countries to decide who votes in U.S. elections.
In 1983 an alien born in Belize stated to the Chicago Tribune that he and his two sisters were never required to show any identification when they registered to vote. The matricula consular enables people to reside in Illinois, and once they reside there, they need no ID to register to vote. This "globalization" of voting rights is clearly a violation of the U.S. Constitution, yet has never been challenged in any court during its ten year history. This supports the idea that Chicago’s goal is to attract large numbers of undocumented residents from all countries.
How Barack Obama enabled illegal immigrants to get on voting lists is the heretofore missing story of the actions he took in the 1990s to help expand the number of Hispanic voters.
Political analysts who have researched Obama’s policy history found that he voted "present" over 100 times as a member of the Illinois State Senate. So he was not actively involved in much legislation. The clues to what he did do in his early days are to be found in his community organizing work. A review of these activities reveals that he was focused on expanding "voter participation." In 1993 he helped run a voter registration drive for ACORN called "Project Vote" which registered 135,000 new voters and was crucial to the election of U.S. Senator Carol Moseley Braun.
Obama’s activities took place within a national context: Bill Clinton won the election of 1992 by such a narrow margin that he immediately set out to create a larger voter base for 1996. To do so he passed the Motor Voter Law, which contains a loophole stating that a potential voter does not need to have an ID in order to register to vote. Expanding the voter base was so important to President Clinton that the Motor Voter Law was the first bill he signed into law as president.
Barack Obama, as a U.S. Senator, was also a vocal critic of Voter ID laws. In 1995, the first year the Motor Voter law was to be implemented, Barack Obama represented ACORN and successfully sued the Republican governor of Illinois, forcing the state to implement the law.
After he became president, Obama had his Justice Department sue Arizona for passing SB 1070, claiming that immigration is a Federal issue and that SB 1070 would interfere with Federal procedures. Of course he has never sued Illinois for enabling the matricula consular to function as a valid state ID, or sued Cook County for allowing the matricula consular to function as a "valid passport" when a Latin American returns to their native country.
These two actions have the effect of enabling illegal Hispanic immigrants to cross Arizona into Illinois and other states, and vote. From 1990 to 2000, the number of Hispanics of voting age in Cook County, IL increased 54% to 689,383.
Enabling foreign nationals to vote in Illinois allowed the Democrats to manipulate not just local and state elections, but the presidential election as well. This is because the electoral college is not based on votes counted, but on population. The 2000 Census found that in 19 of the 100 largest U.S. cities the only part of the population that is growing is the Hispanic segment. Mexican families have twice as many children as white families. And children are also counted by the Census Bureau to determine the number of Congressional Representatives. The larger the population a state has, the more electoral college members it has. States that are solidly Democratic can continue to extend their influence on the Presidential elections by extending their Hispanic populations. Today, one in four children born in the U.S. is Hispanic.
It has been 27 years since Chicago started sanctuary policy for illegal immigration. Since that time Chicago, Illinois, and other cities and states have expanded the illegal immigrant population by stretching the envelope of immigration through Sanctuary Policy. At the same time they have stretched the concept of voter registration.
The notion that foreign nationals can influence elections is no longer a possibility but a reality. The first president to both actively participate in that process and benefit from it is Barack Obama. These actions prove that President Obama is not a socialist or a Marxist, he is an old-fashioned Chicago Democrat who is focused on padding the voter registration list to get elected.
Statistics: Posted by yoda — Sun Dec 30, 2012 2:18 am
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Paper-Gold Fraud Now Out In The Open
Written by Jeff Nielson
Tuesday, 18 December 2012
How do you “stretch” an ounce of gold? Obviously if you want an answer to that question you ask the bankers.
Bankers have earned their generalized contempt in our societies, going back literally thousands of years. Formerly known as the “money-changers”, their Original Sin is well-known to anyone who has studied the history of these professional thieves.
As money-changers, they would graciously offer to “hold” peoples’ (heavy, bulky) gold for them; and exchange that for their convenient, light-as-a-feather “gold certificates.” Always the banksters would end up issuing far more certificates for gold than they actually had the gold to cover – and “fractional-reserve banking” was invented.
Eventually the insatiable greed of the banker would result in him issuing such an enormous surplus of “gold certificates” versus the actual gold he held that this money-dilution would be noticed by the general population. The bankers’ gold-scam would then quickly collapse and vast numbers of ordinary people would be wiped out (and so “capital punishment” was invented).
Thus ask a bankster how to stretch an ounce of gold, and (for thousands of years) his answer would be automatic: sell “paper gold.” Flash-forward two thousand years or so, and we see the banksters looking to fall back on their oldest crime to attempt to wallpaper over some of their newer ones.
We have a huge gold deficit (and silver deficit, as well) in the world today. New, incremental demand for gold grossly exceeds annual incremental mine-supply. This has become a permanent deficit, which by itself is absolute proof of market-manipulation.
The virtues of (actual) “free markets” are well-known to anyone familiar with basic market dynamics: they self-correct. If supply exceeds demand, the price falls to a sufficient level to discourage more supply and encourage more demand – until those simultaneous dynamics achieve equilibrium: supply and demand matching, with prices stable.
Conversely, where demand exceeds supply; prices must rise sufficiently so that more supply is encouraged and more demand is discouraged, until once again equilibrium is achieved. Thus a permanent supply-deficit is ipso facto proof of price-suppression.
The problem with the price-suppression of any kind of physical “good” is always the same, one inevitably runs out of inventory as the repressed supply and excessive demand caused by artificially low prices means that buyers will always outnumber sellers.
In the case of the banksters’ perennial gold-suppression scheme; their supply-deficit dilemma has caused them to recently focus on one target: the population of India. As the world’s most consistently voracious consumers of gold, permanently under-pricing gold has caused a predictable effect. There is a large “gold deficit” in India, as India must import vast quantities of gold each year to satisfy the excessive demand for gold caused by selling it at give-away prices.
As is generally the case, the Corporate Media has totally perverted its own explanation of this scenario. India’s large gold-deficit is being called a “current account deficit” – i.e. a paper deficit. This is absurd on multiple levels.
One aspect I already addressed in a recent commentary. Gold is money. It is defined and treated as “money” in every meaningful way by the bankers themselves. As a matter of the simplest logic, it is impossible to create a “current account deficit” by swapping one form of money for another.
On another level this media lie is even more perverse. Regular readers understand the basic equation of our 21st century financial system: fiat currency = worthless paper. So we have the Western propaganda machine attempting to convince us (and India’s government) that India is currently experiencing a “currency crisis” because large quantities of the bankers’ worthless paper is leaving the country, and large quantities of valuable gold is entering the country.
Understand that if the United States had encountered a similar “problem” 40 years ago that the world would have never abandoned the gold standard. Back then, the U.S. had a real “currency crisis”: its national Treasury was being cleaned-out of all its gold. At the (suppressed) price of that time period, all of the world’s nations wanted to dump their U.S. dollars and exchange them for gold.
History is unequivocal. A “currency crisis” is when a nation is losing its gold, and getting nothing in return but the bankers’ “magic beans.” The actual crisis here is for the Western banking cabal, not the nation of India. It is their gold-suppression Ponzi-scheme which is teetering on the verge of collapse.
It is their multi-billion dollar, ultra-leveraged short positions which are threatened with being blown out of the water should gold ever be allowed to rise to its fair market value (versus the banksters’ debauched fiat-currencies). And so we see the Western Corporate Media offering us “solutions” for what it continues to hilariously characterize as India’s problem.
Only a week ago, some Western “front” group suggested gold-confiscation in India as a banker trial-balloon. However, as I pointed out in that same, previous commentary; proposing to loot the gold from India’s religious temples was not a promising avenue for the banker crime syndicate to pursue.
So, today, we see the bankers falling back on their 2,000 year-old solution for dealing with a gold deficit: start issuing “paper gold.” The absurdity here is that this is nothing less than an implicit confession of fraud on the part of many/most of the floggers of “paper gold.”
When a media article suggests that India’s gold-deficit can be fixed by “selling paper gold” (to the Chumps), there is literally only one possible way this could ever happen: by selling paper but calling it “gold.”
One has to wonder if this article is causing anyone to squirm at HSBC – Britain’s largest bank – and the world’s largest holder of paper gold (by an enormous margin). Informed readers know that not only does HSBC act as “custodian” for the world’s largest paper-gold fund (the SPDR Gold Trust), but it also permanently holds the largest gold short-position in the history of markets.
Fortuitously (for HSBC) it has never been required by our pseudo-regulators to actually demonstrate it has enough gold to cover more than one of these two massive gold-obligations. Et voila! One ounce of gold becomes two ounces of “paper gold.”
Of course as we all know thanks to Jeffrey (“100:1”) Christian, the banksters’ leveraging of their paper gold (overall) exceeds a paltry 2:1 level by many multiples. Indeed, some of the banksters have been known to sell “paper gold” and not back it with any gold at all – just ask some of the (former) disgruntled clients of Morgan Stanley.
Yes, no doubt about it! Selling “paper gold” would certainly address the gold-deficit problem in India…for Western bankers. Unfortunately, it’s a scheme which will almost certainly not work out nearly as well for any Indian Chumps who purchase the bankers’ paper gold.
Statistics: Posted by yoda — Wed Dec 19, 2012 10:54 am
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S&P 500 EARNINGS ARE A FRAUD
Posted on 16th December 2012 by Administrator in Economy |Politics |Social Issues
S&P 500 earnings, Wall Street banks
The earnings of Apple, IBM and Western Digital are legitimate. They make things and sell them.
The “earnings” of Bank of America, Wells Fargo, Citicorp, AIG, Goldman Sachs, JP Morgan and General Electric are a sham. These reported earnings were nothing but accounting entries relieving their loan loss reserves and the interest earned on the backs of taxpayers by borrowing from the Fed at 0% and reinvesting the money in Treasuries. Their earnings, which account for about 70% of the reported S&P 500 earnings, are a sham and don’t benefit the country in any way. They just enrich the oligarchs that run these criminal institutions. So it goes.
What kind of a warped economy has 10 companies out of 500 account for 88% of the incremental profit earned in this country?
Statistics: Posted by yoda — Sun Dec 16, 2012 5:16 pm
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