Updates from June, 2009 Toggle Comment Threads | Keyboard Shortcuts

  • Scavpor 5:28 pm on June 3, 2009 Permalink | Reply
    Tags: , Angela Merkel, , , blasts, , , european central bank, , , , German Chancellor Angela Merkel, , , Joellen Perry, , , , , , , ,   

    Germany Blasts ‘Powers of the Fed’ 

    The Wall Street Journal
    June 3, 2009

    German Chancellor Angela Merkel, in a rare public rebuke of central banks, suggested the European Central Bank and its counterparts in the U.S. and Britain have gone too far in fighting the financial crisis and may be laying the groundwork for another financial blowup.

    • A d v e r t i s e m e n t
    • efoods

    “I view with great skepticism the powers of the Fed, for example, and also how, within Europe, the Bank of England has carved out its own small line,” Ms. Merkel said in a speech in Berlin. “We must return together to an independent central-bank policy and to a policy of reason, otherwise we will be in exactly the same situation in 10 years’ time.” (Read excerpts of the speech.)

    Ms. Merkel also said the ECB “bowed somewhat to international pressure” when it said last month it plans to buy €60 billion ($85 billion) in corporate bonds — a move that is modest in comparison to asset-buying by its counterparts, the U.S. Federal Reserve and the Bank of England. Details are to be unveiled by the ECB’s president, Jean-Claude Trichet, Thursday.

    Read entire article

    URL to article: http://www.infowars.com/germany-blasts-powers-of-the-fed/

  • Scavpor 5:25 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , Doug Mclntosh, , , , , , , , , , , , , , , , ,   

    Census GPS: A Missile at Your Door 

    Doug McIntosh
    Steve Quayle
    June 3, 2009

    This will be the first in a series of essays about the practical aspects of creating a fascist state. I have long written about the New World Order and its intentions of reestablishing the Middle Ages with its Feudal system. That plan is now well along in its implementation in my view. There are still some aspects to be finished, but the fascist state is pretty much in place. It is not completely in place now; however, that is not due to a lack of trying. While there are many different aspects of this rapidly forming global fascist state, one of the key ones is what I call “the knowing state.” By this I mean the global state wants to know everything about you. Again, there are many parts to this general statement. Today I will write about one in particular.

    One of the most distinctive technologies highlighted in the “Star Trek” franchise was the ability of the Federation/Star Fleet to find all of their people any time they wanted. The way Star Fleet did this was to have this little pin on their chests. This particular technique would apply more to microchip technology than to the GPS system in my view. Still, it is clear the NWO watched Star Trek and took notes. Over the last few decades the GPS, or Global Positioning System, has been upgraded far beyond its original intention. In case you forgot, GPS was sold as a way to rescue people who were lost etc. etc. etc. In reality, GPS was always a military system. Always has been and always will be. GPS is a satellite based locator technology, cruising at 22,000 miles in a geo synchronous orbit used by the military to target their missiles. These GPS satellites maintain a relative position with the earth and this allows them to maintain a proper alignment with the earth.

    It is this stable alignment which makes GPS useful in locating objects on Earth.

    GPS has been in the news a lot recently. First, I have seen several articles which say that GPS is in crisis and needs to be upgraded, replaced or whatever. I find that interesting. Further, we are now told that the US Census Department wants to make GPS locator marks on every household location in the USA. Why is that? Such a GPS locator mark doesn’t fall anywhere in the logical mission of the Census Department. Granted, the Census Department, like all government blobs, engages in mission creep. Mission creep is the government version of algae growing in a lake dosed with large amounts of fertilizer run off. Unless you go in there and suck it up with a shop vac, the algae will overwhelm the lake. Likewise, government mission creep is like that.

    • A d v e r t i s e m e n t
    • efoods

    I ask myself exactly why would a civilian census department, originally intended merely to count the numbers of people in the country has done this. Exactly why does the Census Department need to know the precise GPS location of every household in the USA? Of course, the answer is they don’t. The next question is who does and why do they need that GPS locator? Like I said before, GPS is a military technology that has certain non lethal applications. GPS can either be used to locate a missing hiker on Mount Hood, or it can be used to target a Predator drone missile. The choice is all in the use of the technology. Given the history of the US Federal government, at Waco with the Branch Davidians, at Ruby Ridge among others, you will excuse me that I am not buying the Census story.

    The reason is simple. There is absolutely no reasonable, rational or logical reason for the Census Department to have, or need the precise GPS location of every household in the USA. However, there is a need for the Department of Defense to need this kind of info. Things happen in clusters in my view. It is all in the context in my view. If all you look at is the GPS locators, you will miss the big picture. First, we have that pathetic example of humanity called Janet Janet of the Fatherland Security Department with her delusional ranting in these so called reports of hers. We have state level reports, as in Missouri, stating the “terror threat” of certain classes of American citizens. So, the way I see it the GPS locator program makes sense only if you view it from a military standpoint. Otherwise, putting a GPS locator mark on every household in the USA is merely government mission creep gone amuck. However, I do not for one instant think that is the case. It is much more than that. It is much more sinister than that. And it is part of a larger fascist program that is ongoing.

    To put it in the plainest terms possible, the only reason you would use a GPS locator system designed to target military weapons, is indeed you intend to use it for military targeting purposes. Otherwise, why would you do it? You wouldn’t. At this point, I do not particularly care if people think I am a fruitcake, conspiracy nut. We are way beyond that point in the USA of 2009. I am telling you quite openly, in the little remaining time we have left, the main purpose of the 2010 Federal Census is to get these GPS coordinates into the Pentagon Data Base. And the reason to get them into the NWO controlled US military database is they will used to target “dissidents” with the kind of warfare being perfected in Pakistan’s tribal areas as I write this essay. The US military is now engaged in live fire training, under the guise of fighting terrorists, of the specific technology, methodology and techniques which will soon be used here in the USA against “domestic terrorists.” You may believe or not believe as you see fit. You have that freedom for a short time longer.

    I will tell you plainly, the NWO controlled American military wants these GPS markers so they can launch Predator Drone missile attacks, the aptly named HELLFIRE missile I might add, against a long list of undesirables here in CONUS, continental United States. This is my opinion. I think the facts, the history and the current situation all support my conclusion. They, whoever you think “they” are, intend to kill you for your political, religious and cultural views. And they intend to do it in the most intense “shock and awe” manner they can. You can be sure the population control will be much easier if TV shows, for instance, a Predator Drone strike on the Waco compound. The other thing, since the NWO enforcement groups are cowards when faced with actual military resistance, is remote control, GPS based long range missile strikes will reduce their own casualties. These NWO people want to kill you, but they sure don’t want to die while they are doing it.

    This concludes the first essay in the series. One thing I will say for the NWO is they are very precise in their methodology. I do not believe they are very intelligent, but they are cunning and do certain things very well. One of them is to put a missile on a GPS identified target. So, when a HELLFIRE missile shows up at your front door, don’t say I didn’t warn you.

    URL to article: http://www.infowars.com/census-gps-a-missile-at-your-door/

    • Dave 7:06 pm on June 3, 2009 Permalink | Reply

      The GPS issue is real,my home and street were tagged 5 weeks ago(black woman wearing an ID badge on her neck).
      There are only three reasons for this:
      #1,the “predator drone” claim(I doubt it,but who knows)
      #2,serious spying on Americans(you think Google earth is good?,that isn’t crap compared to what the NSA has!)
      #3,during WW2 Europe,civilians would tear down or rearange street signs to stymie invading troops with great effect,if there are ever military roundups(foreign or domestic) of US citizens and there are sympathetic Americans who try to destroy street signs,mailboxes,wall nimbers,it won’t matter at all,they’ll have anyones front door coordinates.
      It’s one or a combination of these reasons folks,spooky stuff.

  • Scavpor 5:21 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , , , , , , , , ,   

    $100 Billion Bailout For IMF Tagged On To War Funding Bill 

    Steve Watson
    Wednesday, June 3, 2009

    $100 Billion Bailout For IMF Tagged On To War Funding Bill 030609IMF

    Democrats in Congress have agreed to provide a $100 billion credit line to the International Monetary Fund, tagging it onto the war supplemental intended for operations in Afghanistan, Pakistan, and Iraq.

    The measure would also increase the U.S. member contribution to the IMF by $8 billion and authorize the United States to back the IMF’s plan to sell 400 tons (12.97 million ounces) of gold, according to lawmakers’ aides quoted in a Reuters report.

    This would fulfil Obama’s pledge to the G20 in April, to contribute toward a $500 billion boost for the IMF, which it says will go toward “helping poorer nations” during the economic downturn.

    However, what the The Treasury Department is really proposing is an international version of the Wall Street bailout; a $100 billion bailout for the IMF, which amounts to a bailout for European banks facing big losses in Central and Eastern Europe.

    If the bill pasess, we will see $100 billion in U.S. tax dollars simply handed over to foreign banks with no oversight.

    • A d v e r t i s e m e n t
    • efoods

    House Republicans, including Minority Leader John Boehner, have threatened to vote no on the war funding if the IMF money is attached.

    “Let’s be clear: a troop-funding bill should fund our troops, period,” said Boehner. “Weighing down this critical legislation with nondefense spending will only drag this process out further and cost it essential Republican support needed for passage.”

    “We should not be having this discussion. IMF funding has no business being included in the war supplemental” bill, said Representative Eric Cantor, a member of the Republican leadership.

    The passage of the bill will be an extrememly close run contest, given that GOP votes are needed to make up for 51 anti-war Democrats who opposed it last month.

    If all Republicans vote no, then the House leadership will need 18 of the Democrats to reverse their defection and vote yes.

    Of course, because the IMF money is tagged onto a bill to fund U.S. troops in the field, there is increased pressure on those considering voting down the measure.

    We have previously highlighted the ongoing agenda to vastly empower the IMF and transform the institution into a “bank of the world” with the power to print its own currency.

    This is not a “conspiracy theory”.

    As the Washington Post highlighted two months ago, the agenda is laid out in publicly available internal IMF documents, interviews and think-tank reports.

    It is part of an open move to empower a group of unelected central bankers with the authority to usurp state sovereignty by overseeing benchmarks for national economic governance and setting regulations for financial institutions all over the globe.

    As we have also previously highlighted, both the IMF and the United Nations have thrown their weight behind proposals to implement a de-facto global financial dictatorship.

    Both bodies have expressed support for new world reserve currency system to replace the dollar as part of the acceleration towards a new economic world order.

    URL to article: http://www.infowars.com/100-billion-bailout-for-imf-tagged-on-to-war-funding-bill/

  • Scavpor 5:19 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , , , , , , , , , , , Sarkozy, , secret plan, , , , ,   

    Sarkozy’s Secret Plan for Mandatory Swine Flu Vaccination 

    F. William Engdahl
    Global Research
    June 3, 2009

    The French Government is developing secret plans to impose mandatory vaccination of the entire French population, allegedly against possible Swine Flu disease according to reports leaked in a French newspaper. The plan is without precedent and even defies recommended public health advice. Pharmaceutical giants benefit from the move, as the Swine Flu increases the trend to militarization of public health and use of needless population panic to advance the agenda.

    featured stories   Sarkozys Secret Plan for Mandatory Swine Flu Vaccination
    Bush Tenet featured stories   Sarkozys Secret Plan for Mandatory Swine Flu Vaccination
    The Sarkozy government has authorized spending of an estimated €1 billion to buy vaccines allegedly to combat or protect against H1N1 Swine Flu virus.

    According to a report in the May 30 edition of the French newspaper, Le Journal du Dimanche, the Sarkozy government has authorized spending of an estimated €1 billion  to buy vaccines allegedly to combat or protect against H1N1 Swine Flu virus. The only problem is that to date neither the WHO nor the US Government’s Center for Diseases Control (CDC) have succeeded to isolate, photograph with an electron microscope and chemically classify the H1N1 Influenza A virus. There is no scientifically published evidence that French virologists have done so either. To mandate drugs for a putative disease that has not even been characterized is dubious to say the least.

    Even more bizarre is the admission by the US Government’s Food & Drug Administration, an agency responsible for health and safety of its citizens, that the ‘test’ is approved for premature release to test for H1N1 is not even a proven test. More to the point, there is no forensic evidence in any of the deaths reported to date that has been presented that proves scientifically that any single death being attributed to H1N1 Swine Flu virus was indeed caused by such a virus. European epidemiologists believe the deaths reported to date are ‘coincidental’ or what are called opportunistic infections.

    What we know conclusively is that the people who died often had prior respiratory complications of an undisclosed nature. People die every day with respiratory diseases. In the USA alone some 36,000 flu-related deaths are recorded yearly with no undue panic or alarm. Most are elderly or patients with lung diseases. To date in all France, 24 people have been identified by health authorities as even having ‘symptoms’ of H1N1. It is worth noting that the WHO and CDC list the symptoms of H1N1: temperature, coughing, headache, runny nose. Hmmmmm. Do you know anyone with such Swine Flu symptoms? Also worth noting is that in the counting of the more than 15,000 ‘confirmed’ H1N1 Swine Flu cases worldwide the vast majority made miraculous recovery within three to seven days, just as in the case of a bad cold.

    The goal: Militarization of Public Health

    Increasingly it is becoming clear that the successive waves of mass panic created in recent years by CDC, WHO and leading government agencies has an ulterior motive. We have been hit with mass panic over eating beef when cattle in the UK and elsewhere developed fatal illness that was called BSE or ‘Mad Cow’ disease. Later evidence emerged that BSE was the result of vaccination of the cows to kill harmless insects that got under the animal’s skin. More recently, after reports of incidence of what is called ‘Blue Tongue’ disease in cows, sheep and goats in Belgium and Holland in 2006, animal veterinary authorities in Germany, Switzerland and Austria imposed mandatory vaccination or treatment with drugs allegedly to protect the animals from bites by insects allegedly carrying the usually harmless illness.

    • A d v e r t i s e m e n t
    • efoods

    The vaccinations of the animal herds has been made mandatory for an illness that typically was so mild as to go unnoticed and in only extreme rare cases could be tied to death. All animals after three months must be vaccinated. The vaccines, according to a report in the Swiss publication Aegis-Impuls from 2008, resulted in mass deaths, decreased birth rates, decline in milk yields, heart attack and other severe effects. The vaccines were used despite the fact none apparently had been previously certified as safe. They typically contained aluminium hydroxide and Thiomersol or mercury, as adjuvants and or preservatives, both highly toxic and both also used in most human vaccines.

    Despite mass protests and reports to the veterinary authorities in Germany, Switzerland and Austria, the warnings went unheeded and mandatory mass vaccinations continued. Little wonder that farmers are taking their tractors to the streets to protest.

    The report of a secret French government plan to vaccinate every French citizen over three months of age, over 100 million doses, is more than alarming. According to the French Le Journal du Dimanche, anticipating a probable return of the virus in the fall, the government will spend nearly a billion euros to buy vaccines. Authorities will announce in the fall if they decide to make the vaccine mandatory.  “We will be ready to go in a very short time”, explains the Minister of Health. According to sources, the state wants to order 100 million doses of flu vaccine from three laboratories, GlaxoSmithKline, Sanofi and Novartis. The latter two are French companies.

    The French report comes just after the State of Massachusetts State Senate passed a mandatory vaccination bill that authorizes mandatory vaccination against purported H1N1 Swine Flu. In  New York State the state hospital planning authority is debating making mandatory annual vaccination against flu of all public health employees, despite the fact that no approved vaccine for H1N1 exists. More and more it is beginning to appear that the scare about pandemic from flying birds or flying pigs is an excuse to justify mandatory vaccination with substances whose harmful side effects are demonstrably worse than any flu they should guard us against.

    Novavax, a US pharmaceutical company based in Rockville, Maryland, conveniently enough just announced it is developing a vaccine for H1N1 based on “virus-like particles” that contain three key proteins of the flu virus without the genes required for replication. The vaccine is produced by techniques of genetic modification of organisms or GMO. The announcement came within days of the company announcing losses for the fiscal year of $36 million.

    The drug Tamiflu which is officially recommended by the WHO as treatment to ‘ameliorate’ the symptoms of possible Swine Flu or H1N1 Influenza A as it has been renamed, is itself highly toxic. Health Canada informed Canadians of international reports of hallucinations and abnormal behaviour, including self harm, in patients taking the antiviral drug Tamiflu. In some cases death was the result and severe lung complications are widely reported associated with Tamiflu, the drug whose main financial benefactor is believed to be its largest stockholder, former Defense Secretary Donald Rumsfeld.

    In 1976 in the US  President Gerald Ford, nervous about winning a close election ordered  mass immunisation of the population in the face of a possible pandemic to show voters he was a ‘hands on’ President. The 1976 pandemic never came but a vast number of people suffered serious neurological side effects from the vaccine that was rushed into production, including 25 reported deaths from Guillain-Barré syndrome.

    Mandatory vaccination with drugs whose side effects are unknown because they have not been rigorously and independently tested begins to smack of the kind of inhuman mass human experiments carried out in the United States with mentally retarded, prisoners and other disadvantaged  people or in Germany during the 1930’s.

    URL to article: http://www.infowars.com/sarkozys-secret-plan-for-mandatory-swine-flu-vaccination/

    • Nicole 3:40 am on June 5, 2009 Permalink | Reply

      I think they cannot force this issue. Flu vaccine to every French citizen should not be made compulsory. They must think about this decision a hundred times and hopefully they’ll come up with a better plan. French government will be the one that is mostly affected when they will force to do this. They will not just lose a lot of money but also make the entire nation mad.

  • Scavpor 5:15 pm on June 3, 2009 Permalink | Reply
    Tags: 447, Air Frace, , , Atlantic ocean, , , , Ian Sparks, , , , , ,   

    Pilot claims Air France Flight 447 was blown out of the sky by terrorists 

    Peter Allen, Ian Sparks and David Williams
    Mail Online
    June 3, 2009

    Investigators are examining a bomb threat called in on a flight from Buenos Aires to Paris just days before Flight 447 disappeared over the Atlantic ocean, it has been revealed.

    • A d v e r t i s e m e n t
    • efoods

    Aviation authorities are examining the possibility of a link between the threat to the Buenos Aires flight and the mysterious disappearance of Flight 447 with 228 people on board, a source has claimed.

    Meanwhile an Air France pilot said it was ‘highly likely’ the jet was blown out of the sky by a bomb.

    The long-haul captain said he believed Flight 447 was the victim of terrorist attack. No terrorist group has yet come forward to claim responsibility for such an attack, but the French government – baffled by the disappearance of the aircraft – has not ruled such an attack out.

    Speaking under condition of anonymity to Le Figaro newspaper the pilot said: ‘It is highly likely a bomb went off on board.

    Read entire article

    URL to article: http://www.infowars.com/pilot-claims-air-france-flight-447-was-blown-out-of-the-sky-by-terrorists/

  • Scavpor 5:12 pm on June 3, 2009 Permalink | Reply
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    Taser Torture as Summary Punishment for “Non-Compliance” 

    William Grigg
    The LRC Blog
    June 3, 2009

    The official rationale for issuing Tasers to police officers is that the electro-shock devices represent a “non-lethal” alternative to the use of a firearm in dealing with situations that threaten the life or safety of an officer or innocent bystanders.

    In practical terms, however, the Taser — which is proving to be a reliably lethal weapon — has become an instrument of “pain compliance.” In unadorned terms, this is summary punishment through torture for those who pose no threat to anyone, but who refuse to cooperate instantly with orders issued to them by police officers.

    The recent arrest of 72-year-old Austin grandmother Kathryn Winkfein, who was assaulted with a Taser during a traffic stop, illustrates this perfectly.

    After a police officer stopped Mrs. Winkfein for allegedly driving 60 in a 45 MPH zone, the grandmother refused to sign the ticket stub. Under Texas “law,” motorists are required to sign traffic tickets under threat of arrest.

    According to the police officer, Mrs. Winkfein not only refused to comply, but she “swore” and became “violent” with him. Palsied with terror over the threat posed by a frail septuagenarian woman, the officer hit her with a blast from his Taser. Mrs. Winkfein disputes every element of the official account, and intends to file a lawsuit.

    Mrs. Winkfein might be encouraged by the $40,000 settlement reached between the State of Utah and Jared Massey, who suffered a Taser assault at the hands of Utah Highway Patrolman Jon Gardner during a 2007 traffic stop.

    Massey refused to accept the traffic ticket. Under Utah law, he didn’t have to; Trooper Gardner could simply have shrugged his shoulders and mailed it to Massey. But following that approach would mean that Gardner had failed to compel a “mundane” to submit to his Authoritah:

    In this dashcam recording taken from Gardner’s cruiser, it’s important to note how — beginning at roughly 11 seconds into the video — we see Gardner pull over to the side of the road, thereby obstructing Massey’s view of the sign announcing the speed limit of 40 MPH. After Massey passed, Gardner pulls him over almost instantaneously.

    • A d v e r t i s e m e n t
    • efoods

    At that time Gardner pulled over, Massey was not speeding, and Gardner had no reason to pull over — unless he wanted to manufacture a traffic stop by preventing the motorist from seeing the speed limit sign.

    Massey, who didn’t see the sign, was understandably outraged by Gardner’s asinine stunt, and his mood didn’t improve when the tax-feeder threatened his pregnant wife.

    Predictably enough, the UHP ruled that Gardner’s unnecessary use of the reliably lethal Taser against Massey was “justified” — despite the fact that Massey was merely uncooperative, not “threatening,” and despite the fact that Massey had no legal obligation to accept the ticket from Gardner.

    In a tacit admission that Gardner acted improperly by needlessly escalating the confrontation, the Utah state police did place him on administrative leave and ordered him to undergo anger management training.

    Of particular interest in the Massey case was the reaction of the Provo Daily Herald newspaper, for which I wrote a weekly (then bi-weekly) column a couple of decades ago, long before its descent into unalloyed statism.

    “Here’s a tip: when a uniformed man with a badge and a gun tells you to do something, shut up and do exactly what he says,” opined the Herald, which serves the reddest community in “Red-State” America. A more suitable example of the martial law mind-set would be difficult to find.

    URL to article: http://www.infowars.com/taser-torture-as-summary-punishment-for-non-compliance/

  • Scavpor 5:08 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , Steve Vaus, , , ,   

    Steve Vaus: We Must Take America Back 

    June 3, 2009

    When it comes to Steve Vaus’ music, he takes the greatest pride in the patriotic and spiritual music he has created over the years. Check out Vaus’ CD at the Alex Jones Infowars Store.

    URL to article: http://www.infowars.com/steve-vaus-we-must-take-america-back/

  • Scavpor 5:06 pm on June 3, 2009 Permalink | Reply
    Tags: , , compulsory, , , , , ,   

    Should immunization be compulsory? 

    The Guardian
    June 3, 2009
    • A d v e r t i s e m e n t
    • efoods

    A former chairman of the British Medical Association is calling for the MMR jab to be made compulsory. Sir Sandy Macara – who has submitted a motion for debate at the BMA’s annual conference – argues that children should not be allowed to attend school unless they have had the MMR vaccine.

    Macara believes that Britain should follow the example of Australia and Germany, which require mandatory immunisation for school entry. The idea, the BBC Today programme reports, has found favour with the London Strategic Health Authority, which asked the government if it could introduce compulsory vaccinations. The government decided vaccination should remain voluntary.

    Read entire article

    URL to article: http://www.infowars.com/should-immunization-be-compulsory/

    • Nicole 3:31 am on June 5, 2009 Permalink | Reply

      Of course, this should always be voluntary. It doesn’t have to be forced. Even it talks about the health of the majority, it will still depend upon every individual’s decision or in case of a student, upon parent’s decision, whether or not to agree. What if the vaccine actually has side effects to a particular student, will they still allow it and make it compulsary?

  • Scavpor 5:03 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , , , , , ownership   

    White House Says Bank Bailout Law Gives it the Power to Take Ownership of General Motors 

    Fred Lucas
    June 3, 2009

    The $700-billion financial industry bailout legislation approved by Congress last fall gave the Obama administration all the authority it needed to take ownership of General Motors this week, White House Press Secretary Robert Gibbs told CNSNews.com.

    • A d v e r t i s e m e n t
    • efoods

    On Monday, President Barack Obama announced the federal government was granting another $30.1 billion in aid to GM and taking ownership of 60 percent of the automaker as it enters bankruptcy.

    When asked by CNSNews.com to explain “why specifically the government should be able” to take “control of 60 percent of a company” and put $30 billion in it “without direct congressional authorization,” Gibbs said the following:

    “Well, I think the money is based on the Troubled Asset Relief [Program], and is related to money that was approved in the prior administration through that program to deal with, as they had in the past administration, they were dealing with loans to cover–basically to bridge the operating costs,” he said.

    Read entire article

    URL to article: http://www.infowars.com/white-house-says-bank-bailout-law-gives-it-the-power-to-take-ownership-of-general-motors/

  • Scavpor 4:56 pm on June 3, 2009 Permalink | Reply
    Tags: , , , , , , , , , , , , , , , Ryan Grim, Senate floor, , , , , ,   

    Handwritten Notes Show Fed Oversight Bill Neutered On Senate Floor 

    Ryan Grim
    The Huffington Post
    June 3, 2009

    Legislation to give Congress greater oversight of the Federal Reserve was severely watered down on the Senate floor Wednesday in private negotiations between two powerful Republican senators.

    Thanks to an overlooked document posted on the website of Sen. Charles Grassley of Iowa, the top ranking Republican on the Finance Committee, voters can virtually watch the water being dumped into the brew that Grassley had hoped to force the Fed to drink. (See the document at the bottom of this story.)

    On page five of Grassley’s amendment, he intends to give the Comptroller General of the Government Accountability Office power to audit “any action taken by the Board under…the third undesignated paragraph of section 13 of the Federal Reserve Act” — which would be almost everything that it has done on an emergency basis to address the financial crisis, encompassing its massive expansion of opaque buying and lending.

    • A d v e r t i s e m e n t
    • efoods

    Handwritten into the margins, however, is the amendment that watered it down: “with respect to a single and specific partnership or corporation.” With that qualification, the Senate severely limited the scope of the oversight.

    On the Senate floor, Grassley named the top Republican on the banking committee, Richard Shelby of Alabama, as the man pouring the water.

    “Although I would have preferred to include all of the Fed’s emergency actions under 13(3), in consultation with Senator Shelby I agreed to limit my amendment to actions aimed at specific companies,” said Grassley.

    “This modified version of the amendment does not give GAO authority to look at all of that additional taxpayer risk. It is much narrower than the one I originally filed, but it is a reasonable step in the right direction, and it does not threaten monetary policy independence.”

    The original version of the amendment also scratches out congressional authority to oversee Fed actions as they relate to the TARP bailout or “similar authority that the Board exercises under urgent and exigent circumstances.”

    URL to article: http://www.infowars.com/handwritten-notes-show-fed-oversight-bill-neutered-on-senate-floor/

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