Posts tagged warning
Billionaire Issues Chilling Warning About Interest Rate Derivatives
Will rapidly rising interest rates rip through the U.S. financial system like a giant lawnmower blade? Yes, the U.S. economy survived much higher interest rates in the past, but at that time there were not hundreds of trillions of dollars worth of interest rate derivatives hanging over our financial system like a Sword of Damocles. This is something that I have been talking about for quite some time, and now a Mexican billionaire has come forward with a similar warning. Hugo Salinas Price was the founder of the Elektra retail chain down in Mexico, and he is extremely concerned that rising interest rates could burst the derivatives bubble and cause “massive bankruptcies around the globe”. Of course there are a whole lot of people out there that would be quite glad to see the “too big to fail” banks go bankrupt, but the truth is that if they go down our entire economy will go down with them. Our situation is similar to a patient with a very advanced stage of cancer. You can try to kill the cancer with drugs, but you will almost certainly kill the patient at the same time. Well, that is essentially what our relationship with the big banks is like. Our entire economic system is based on credit, and just like we saw back in 2008, if the big banks start failing credit freezes up and suddenly nobody can get any money for anything. When the next great credit crunch comes, every important number in our economy will rapidly start getting much worse.
The big banks are going to play a starring role in the next financial crash just like they did in the last one. Only this next crash may be quite a bit worse. Just check out what billionaire Hugo Salinas Price told King World News recently…
I think we are going to see a series of bankruptcies. I think the rise in interest rates is the fatal sign which is going to ignite a derivatives crisis. This is going to bring down the derivatives system (and the financial system).
There are (over) one quadrillion dollars of derivatives and most of them are related to interest rates. The spiking of interest rates in the United States may set that off. What is going to happen in the world is eventually we are going to come to a moment where there is going to be massive bankruptcies around the globe.
What is going to be left after the dust settles is gold, and some people are going to have it and some people are not. Then the problem is going to be to hold on to what you’ve got because it’s not going to be a very pleasant world.
Right now, there are about 441 trillion dollars of interest rate derivatives sitting out there. If interest rates stay about where they are right now and they don’t go much higher, we will be fine. But if they start going much higher, all bets will be off and we could see financial carnage on a scale that we have never seen before.
And at the moment the big banks have got to behave themselves because the government is investigating allegations that they have been cheating pension funds and other investors out of millions of dollars by manipulating the trading of interest rate derivatives. The following is from an article that the Telegraph posted on Friday…
The Commodity Futures Trading Commission (CFTC) is probing 15 banks over allegations that they instructed brokers to carry out trades that would move ISDAfix, the leading benchmark rate for interest rate swaps.
Pension funds and companies who invest in interest rate derivatives often deal with banks to insure against big movements in the ISDAfix rate or to speculate on changes to interest rate swaps
ISDAfix is published each morning after banks submit bids for swaps via Icap, the inter-dealer broker, in a number of currencies. The CFTC has been investigating suggestions that the banks deliberately moved the rate in order to profit on these deals.
Given the hundreds of trillions of dollars worth of interest rate derivatives trades that occur annually, even the slightest manipulation can have a substantial effect. The CFTC, which started to investigate ISDAfix after last summer’s Libor scandal has now been handed emails and phone call recordings that show the rate was deliberately moved, according to Bloomberg.
Essentially they got their hands caught in the cookie jar and so they have got to play it straight (at least for now).
Meanwhile, it looks like the Fed may not be able to keep long-term interest rates down for much longer.
The Federal Reserve has been using quantitative easing to try to keep long-term interest rates low, but now some officials over at the Fed are becoming extremely alarmed about how bloated the Fed balance sheet has become. For example, the following was recently written by the head of the Dallas Fed, Richard Fisher…
This later program is referred to as quantitative easing, or QE, by the public and as large-scale asset purchases, or LSAPs, internally at the Fed. As a result of LSAPs conducted over three stages of QE, the Fed’s System Open Market Account now holds $2 trillion of Treasury securities and $1.3 trillion of agency and mortgage-backed securities (MBS). Since last fall, when we initiated the third stage of QE, we have regularly been purchasing $45 billion a month of Treasuries and $40 billion a month in MBS, meanwhile reinvesting the proceeds from the paydowns of our mortgage-based investments. The result is that our balance sheet has ballooned to more than $3.5 trillion. That’s $3.5 trillion, or $11,300 for every man, woman and child residing in the United States.
Fisher has compared the current Fed balance sheet to a “Gordian Knot”, and he hopes that the Fed will be able to unwind this knot without creating “market havoc”…
Image credit: http://theeconomiccollapseblog.com
By CBC News
Big Brother’s power is building, warns George Orwell biographer
‘Orwell wrote 1984 as a warning. He felt that if someone didn’t sound the alarm loudly enough, eventually a lot of the freedoms he cherished would be lost.’
Earlier this month, the most talked about novelist in the English language wasn’t Dan Brown, Stephen King or George R. R. Martin and his Game of Thrones series. It was George Orwell, whose most famous novel, 1984, saw its sales spike by a reported 7,000 per cent.
Of course, this happened after Edward Snowden pulled back the curtain on a massive surveillance program in which the U.S. National Security Agency could scour the data on the cellphone and internet activity of U.S. citizens. Terms like Orwellian and Big Brother became ubiquitous in the media and everyday conversation.
- NSA surveillance leaker charged with espionage, theft
- Neil Macdonald: Obama’s whistleblower conundrum
- Why the U.S. hasn’t nabbed Edward Snowden yet
- Canadians react to U.S. surveillance program leak
That came as no surprise to Michael Shelden, a professor of English at Indiana State University and the author of Orwell: The Authorized Biography.
“People realize that this problem of Big Brother watching you is not going to go away,” professor Shelden told The Sunday Edition’s guest host, Kevin Sylvester.
“It’s an incredible phrase. I think we’ve taken it for granted for many years, but it probably is one of the most prophetic things said in a novel in the past hundred years.”
Orwell, professor Shelden pointed out, is still the reference point whenever stories emerge about surveillance of the public and increasing government controls over civilian populations.
“Orwell is the one who saw this. He’s the one who got it right. Orwell could see how the power would accumulate and would be imposed whether you wanted it imposed or not. There was a certain acquiescence, of course, but he once said, ‘The object of power is power.’”
But after the initial burst of outrage at the growing appetite of governments for surveillance and data on their citizens in the name of fighting terrorism, there’s also a sense that a lot of people are not all that upset. Many people still happily make their private lives very public on social media and pay little heed to the omnipresent security cameras in the public sphere.
And a survey by the Pew Research Centre found that a majority of Americans think that tracking phone records to investigate potential terror threats is more important than the right to privacy.
“We have a situation now where a lot of people take this kind of intrusion into our private lives increasingly for granted. I don’t think we should,” said professor Shelden.
“Orwell wrote 1984 as a warning. He felt that if someone didn’t sound the alarm loudly enough, eventually a lot of the freedoms he cherished would be lost, and people would wake up one day and wonder where they’d gone.”
You can hear Kevin Sylvester’s full interview with Michael Shelden about the vision and continued relevance of George Orwell on The Sunday Edition’s site, or through the link at the top-left of this story.
Copyright © CBC 2013
Republished with permission.
Listen to the interview
We know that over 20 studies, many of which come from prestigious organizations like Harvard and are published in federal government journals, have told us how sodium fluoride is crushing our IQ. We know that a major head at the National Cancer Institute revealed decades ago that fluoride was causing ‘cancer waves’ in the United States.
So, remind me again, why are we still drinking fluoride in our ‘clean’ tap water around the entire world?
As it turns out, it’s because Harvard and federal government journalists must all be wackjob conspiracy theorists! The peer-reviewed research warning that fluoride can cause permanent damage to unborn babies by affecting their neurological development is all a big conspiracy theory to the mainstream media. The sodium fluoride that is literally assaulting the brain in mega-high doses of 5,000 PPM in ‘prescription fluoride’ toothpaste being dished out by dentists who say their childhood patients are ‘deficient’ in the IQ-destroyer is perfectly safe in their eyes.
When analyzing the Harvard research, published in the journal Environmental Health Perspectives, a component of the United States National Institute of Environmental Health Sciences, we find quite a few concerning details. The study makes it explicitly clear how damaging sodium fluoride can be, with writers explaining:
“The children in high fluoride areas had significantly lower IQ than those who lived in low fluoride areas.”
The EPA had similar statements, demonstrating how fluoride displays ”evidence of developmental neurotoxicity” and can damage unborn babies. We read:
”Fluoride readily crosses the placenta. Fluoride exposure to the developing brain, which is much more susceptible to injury caused by toxicants than is the mature brain, may possibly lead to damage of a permanent nature.”
Let’s go even further back to the research of Dr. Dean Burke, head scientist at the National Cancer Institute and author of over 250 scientific articles. Back in 1977, the decorated scientist spoke out against fluoride and brought it to the attention of the National Cancer Institute. At that time, Burke found that sodium fluoride was fueling the development of cancer cells and tumor growth — at the average level of 1 PPM. He estimated that around 10,000 had died from the fluoride-induced cancer from that level.
As I detail in the video below, now we see levels as high as 5,000 PPM in toothpaste, 500,000% higher than the water fluoridation levels Burke was examining:
I guess no one told the media that even the United States government called for lower fluoride levels after a mountain of research accumulated regarding these links. They must be conspiracy theorists too.
The fact is that the fluoride debate hits a brick wall thanks to the rhetoric the mainstream media and laughable ‘skeptics’ use by throwing around terms like ‘conspiracy theory’ to discredit any real debate. In fact, it’s actually working against them. Right now we have so many conscious citizens realizing that they don’t want to consume the tainted tap that it’s really considered outlandish in many areas to drink from the tap without at least a fluoride-removing filter of some kind. A lot has changed as more information comes out.
But still, how could we possibly allow this fluoridation to go on for as long as it has? Even if there was only some research indicating an issue, isn’t it enough to begin withdrawing it from the water — or at least enough to conduct more independent research? I think any reasonable person would agree the answer is yes.
It’s time to accelerate this issue from a tired debate of ‘conspiracy’ theory name-calling to a topical issue we can generate a victory for. We’ve done it for GMOs; we’ve done it for high-fructose corn syrup; we’ve done it for BPA. It’s time to blast this information into the stratosphere and demand action.
About Anthony Gucciardi:
Google Plus Profile Anthony is an accomplished investigative journalist whose articles have appeared on top news sites and have been read by millions worldwide. Anthony’s articles have been featured on top health & political websites such as Reuters, Yahoo News, MSNBC, and Bloomberg. Anthony is also a founding member of Natural Attitude, a leading developer of super high quality spagyric formulations.
Reported on: http://www.freedomsphoenix.com
Reported by Ed Vallejo
Registering for Confiscation (Canada)
The Associated Press Posted: Feb 5, 2013 8:47 PM ET Last Updated: Feb 5, 2013 9:51 PM ET
U.S. Geological Survey says the 8.0-magnitude quake struck west of Soloman Islands
The Pacific Tsunami Warning Center says an 8.0 magnitude earthquake in the South Pacific has generated a tsunami that may be destructive near the epicentre.
The Hawaii-based agency said sea level readings indicate a tsunami formed after the major quake struck Wednesday near the Solomon Islands. More distant coasts may be threatened.
The quake occurred near Lata in Temotu province, the easternmost province of the Solomons, about a three-hour flight from the capital, Honiara. The region has a population of around 30,000 people.
“There was no immediate report of damages or any accidents,” said George Herming, a spokesman for the prime minister. “We’ve been hoping that reports will come in from the responsible authorities … very soon.”
The Pacific Tsunami Warning Center said the tsunami warning is in effect for the Solomon Islands, Vanuatu, Nauru, Papua New Guinea, Tuvalu, New Caledonia, Kosrae, Fiji, Kiribati, Wallis and Futuna.
A tsunami watch is in effect for American Samoa, Australia, New Zealand and eastern Indonesia.
The U.S. Geological Survey said the quake struck 81 kilometres west of Lata, at a depth of 5.8 kilometres.
British Columbia’s disaster alert centre sent out a tweet saying there was no impending threat to the province, but that officials were monitoring the situation.
You know not all is lost when reverence for the occupiers of the White House is entirely shunned in favor of disdain for the dictator via symbolic fun. According to Breitbart, the White House released a photo of Obama skeet shooting at Camp David, with a stern warning:
“This official White House photograph is being made available only for publication by news organizations and/or for personal use printing by the subject(s) of the photograph. The photograph may not be manipulated in any way and may not be used in commercial or political materials, advertisements, emails, products, promotions that in any way suggests approval or endorsement of the President, the First Family, or the White House.”
What ensued is this hilarious cascade of photo ops. And here’s an entire website dedicated to the best ‘shop’ of Obama skeet shooting.
Photo added to original post
Canadian military has no immediate plans to replace knock-off electronics
Despite repeated government denials, CBC News has confirmed that some of Canada’s new Hercules military transport planes have counterfeit Chinese parts in their cockpits that could leave pilots with blank instrument panels in mid-flight.
Documents show the Canadian military has known about the bogus electronic chips in the giant Hercules C-130J aircraft since at least July 2012, but continued to hide the fact during a CBC News investigation months later.
The military continues to fly the new Hercs with the fake parts, and says it still has no immediate plans to replace them.
A 14-month investigation by the powerful U.S. Senate armed services committee concluded last year that counterfeit parts in the Hercules transports and other American-made military equipment are prone to failure with potentially “catastrophic consequences.”
Failure of the parts could leave Canadian military pilots flying blind, potentially in a combat zone, with no information on altitude, speed, location, fuel supply, engine performance or warning messages.
Well it appears that our favorite government patrolled and controlled social media site, Facebook, is stepping up efforts to steal any personal information that you have not already provided voluntarily. From my perspective this is attacking people on a two step process.
Firstly, Facebook changes policies and all are considered virus infected unless going through a virus scan, without any proof that they have a virus infection, but that is alright, Facebook will create one. This is sounding quite government familiar already, isn’t it?
Okay, to keep their billion dollar system safe from the average school kid or mom and pop, we are forced to submit to this virus scan, which will only load unwanted software on our systems. Hopefully this assault is only performed on some of us and not all of us.
A woman in Houston, Texas, was arrested and jailed for 12 hours after she held up a make-shift sign to warn drivers about a speed trap.
Natalie Plummer was officially charged with walking in the roadway — jaywalking, essentially — though she says the police officers who arrested her were just angry that she had tipped off speeders.
Miss Plummer was riding her bicycle along a road near downtown Houston on Thursday when she spotted police officers pulling drivers over.
Scroll down for video
She told KTRK that it looked like the officers were targeting cars at random, so she recorded some the activity on her cell phone.
Then, she said, she turned around and wrote ‘Speed Trap!!’ in large letters on a piece of grocery bag to warn oncoming traffic.
‘I was simply warning citizens of a situation ahead,’ she told the TV station.
The officers didn’t see it that way. Shortly after she took up her post, a squad car pulled up to Miss Plummer and an officer grabbed her backpack off her shoulder and began rifling through it.
Then, he handcuffed her and told her she was under arrested for felony obstruction of justice and that she would spent three to five years in jail, at minimum.
Gmail accounts targeted by ‘state-sponsored attackers’ using Internet Explorer zero-day vulnerability0
(NAKED SECURITY) Both Google and Microsoft have put out alerts about an un-patched, zero-day hole in Internet Explorer that didn’t get fixed on Patch Tuesday and is actively being exploited in the wild.
Neither Google nor Microsoft referred to those state attackers in their respective security warnings. ZDNet attributed that particular detail to a source it said was “close to these investigations”.
This source confirmed to ZDNet that the attacks motivated Google to warn Gmail users last week about the attackers.
As ZDNet pointed out, Gmail users have been reporting on Twitter that they’ve been hit by the Gmail warning.
Google security engineer Andrew Lyons wrote in the company’s security blog that Google reported the vulnerability to Microsoft on May 30 and that the two companies have been working on the problem since.
He wrote on Tuesday:
Today Microsoft issued a Security Advisory describing a vulnerability in the Microsoft XML component. We discovered this vulnerability - which is leveraged via an uninitialized variable - being actively exploited in the wild for targeted attacks.
Lyons said that the attacks are spreading both from malicious web pages set up to snare Internet Explorer users and through Office documents.
Users running any flavor of supported Windows are vulnerable, from XP onwards up to and including Windows 7. All supported editions of Microsoft Office 2003 and Microsoft Office 2007 are also vulnerable.
The hole hasn’t been stitched up yet, but Microsoft is suggesting a workaround that will help prevent it from being exploited.
Microsoft’s security advisory recommends that IE and Office users immediately install a Fix it solution, downloadable with instructions from Microsoft Knowledge Base Article 2719615, until the company gets the final fix out.
The vulnerability crops up when Microsoft XML Core Services 3.0, 4.0, 5.0, and 6.0 try to access an object in memory that hasn’t been initialized, which can corrupt memory such that an attacker could execute arbitrary code on a hijacked machine.
A victim would have to visit a maliciously crafted site using IE to suffer an attack. An attacker might lure users into visiting a booby-trapped site by enticing them to click on a link in an email or via messaging.
A successful attack grants the intruder the same user rights as the logged-on user. Therefore, a mitigating factor is to configure accounts with fewer rights, as opposed to operating with administrative user rights.
Microsoft noted that by default, IE on Windows Server 2003, Windows Server 2008, and Windows Server 2008 R2 runs in a restricted mode known as Enhanced Security Configuration. That also mitigates the vulnerability.
As far as bolting down Gmail goes, Sophos’s Graham Cluley has a collection of tips on how to stop your Gmail account from getting hacked.
It’s definitely worth a read. Here’s a quick cheat-sheet; Graham gives you more detail on these items in his article:
- Set up two step verification
- Check if your Gmail messages are being forwarded without your permission
- Look where your Gmail account is being accessed from
- Choose a unique, hard-to-crack password
- Secure your computer
- Why are you using Gmail anyway?
OK, that last one’s not a tip, per se, but it’s food for thought if you are, in fact, important enough that a state would want to attack your Gmail account.
If you are, think twice about using a free web email provider for sensitive information. If you’re working for the government or the military, like Graham said, put all that sensitive information on secure systems instead.