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Archive for the ‘Economic’ Category

Rothschild loses libel case, and reveals secret world of money and politics

Posted by nowisthetimeus on February 15, 2012

Thanks to billionaire’s legal battle, we now know a lot more about how the super-rich work

With his long limbs and delicate gait, Lord Mandelson could no doubt manage a quite convincing turn in Thunderbirds.

He’d find Jeff Tracy most convivial: a billionaire astronaut with his own Pacific island, and now, it seems, he even has his own camera-shy friend to pull the strings.

According to the High Court, Nathaniel Rothschild, scion of the banking dynasty and friend of seemingly everyone in the spheres of finance, business and politics, is indeed “puppet master” to the Baron of Hartlepool and Foy.

The banker and Bullingdon boy has lost his libel case against the Daily Mail, which he sued for “substantial damages” over its account of his and Mr Mandelson’s extraordinary trip to Russia in January 2005.

Mr Rothschild claimed he was subjected to “sustained and unjustified” attacks in the May 2010 article, which portrayed him as a “puppet master”, dangling his friend Lord Mandelson in front of the Russian oligarch Oleg Deripaska to ease the passage of colossal business deals.

Messrs Rothschild and Mandelson’s Russian trip would certainly have made entertaining viewing, but maybe not for Thunderbirds fans. Nobody needed rescuing, that’s for certain.

It began on Mr Rothschild’s private jet from the World Economic Forum in Davos to Moscow, where they met Mr Deripaska, the aluminium plant manager who became the richest oligarch of them all, and continued on Mr Deripaska’s private jet to his chalet in Siberia, where “to beat jet lag” they were whipped with birch leaves before plunging themselves into icy water – a traditional Siberian banya.

Less salacious, but seemingly more sordid, was an earlier dinner at Cantinetta Antinori, a fashionable Tuscan restaurant in Moscow. Mr Deripaska, the Mail had claimed, was dining with executives from the US aluminium giant Alcoa, negotiating a £250m deal to buy two of Mr Deripaska’s aluminium plants, at which a stumbling block was an EU import tariff on Russian aluminium. Enter Lord Mandelson, then a lowly Mister, but at the time the EU Trade Commissioner. The deal is done, costing several hundred British jobs, and the tariffs come down.

Mr Rothschild claimed the trip was “purely recreational”, and Associated Newspapers had to admit during litigation that it couldn’t be sure that Mr Mandelson had joined Mr Deripaska at dinner or whether aluminium tariffs were discussed, and in fact the deal had been struck before Mr Mandelson and Mr Rothschild arrived in Moscow. But for Mr Justice Tugenhadt, recreation it was not.

“So far as Lord Mandelson was concerned the benefit was the trip and the hospitality itself. So far as Mr Deripaska was concerned it was a relationship with the EU Trade Commissioner,” he said in his ruling. The judge rejected the notion that Mr Rothschild and Mr Mandelson had flown out as friends, not business associates, and said Mr Rothschild’s behaviour had in part been “inappropriate”. “That conduct foreseeably brought Lord Mandelson’s public office and personal integrity into disrepute,” the judge said.

Mr Rothschild’s “different and developing” accounts of the Siberia trip were confusing, he continued, adding that on this subject the banker had not been entirely candid.

Mr Rothschild said he was disappointed with the judgement and intended to appeal. “The truth is, as the Daily Mail has now accepted, that I had nothing whatsoever to do with this deal and that it had in any event been completed before Lord Mandelson and I even arrived in Moscow,” he said in a statement. Disputing the judge’s findings, he added: “Lord Mandelson’s trip to Russia was entirely recreational – as the court has accepted – and Lord Mandelson had obtained clearance for the trip from his office before undertaking it.”

Puppet masters, of course, do not like the limelight, but when one pulls quite as many strings as Mr Rothschild would appear to, things will inevitably go wrong. Indeed, it is not the first time this seemingly unlikely trio has conspired to make the headlines. When Mr Deripaska moored his yacht next to the Rothschild family villa in the summer of 2008, they, along with George Osborne, managed to tie themselves up in an even more spectacular imbroglio.

Either on the yacht or in the villa, Lord Mandelson might have said unkind things about Gordon Brown and Mr Rothschild is alleged to have suggested that Mr Deripaska might be interested in making a donation to the Tories. Via the two politicians it all ended up in the press – the last place their two hosts like seeing themselves.

That leading politicians, bankers and businessmen associate with each other in fashions that blur the boundaries between work and pleasure is a secret too great to be maintained with any success, but it doesn’t make the details, on the rare occasions they actually emerge, any more palatable.

A spokesman for the Daily Mail said: “This case is a reminder, at a time when newspapers are under attack for invading privacy, that the rich and powerful regularly use the law to prevent legitimate scrutiny of their activities. Had the Mail lost this case, it could have incurred costs of more than one million pounds.

“Not many news organisations, however committed they are to free speech, can afford to risk a loss of that magnitude. As Lord Justice Leveson’s inquiry considers the balance between privacy and freedom of expression, the chilling effect on free speech that court cases like this one exert needs to be borne in mind.”

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300,000 Organic Farmers Sue Monsanto in Federal Court: Decision on March 31st to Go to Trial | NationofChange

Posted by nowisthetimeus on February 15, 2012

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Posted by nowisthetimeus on February 15, 2012

Deliberate denial of remedy, showing a pattern of criminal intent.

From: Hasegawa, Rep. Bob <>
Subject: WIT Update – February 14
Date: Tuesday, February 14, 2012, 7:55 PM

Dear Stakeholders,

As many of you have already heard, the bill that would establish the Washington Investment Trust (WIT) has not made it out of committee in either the House (HB 2434) or the Senate (SB 6310). Today, February 14th, is the House of Origin cutoff date and that means that any bill that has not been moved out of either the House or the Senate is considered dead. However, as a wise person once said, “there are always options.” I’m continuing to work the bill, and looking for the legislature to take some steps to move the WIT forward.

I believe the WIT is one of those tools that will help us create a sound financial future for Washington State. Our taskforce worked diligently over the interim to find the ways we can safely invest our money to help it work in an innovative way for the citizens of our state. I realize there are some doubts, opposition, and possibly some misunderstanding of what exactly the WIT is trying to do. So we still have quite a bit of work ahead of us to help make the case as to why this can be a good thing for our State.

At the same time, I believe this challenge will help us refine our message about the very clear and tangible benefits the WIT can provide, such as savings on interest for infrastructure projects, expanded borrowing power for more capital projects, more jobs and lower interest rates on student loans. These are the messages that I will be working to convey. I’m committed to continuing the fight to move the issue forward this session. Over the next few weeks I’ll be looking for opportunities to help me do that. In the meantime, I think it will be important for folks to continue to spread the message within their communities about the specific benefits and opportunities the WIT can produce. If we can do a good job relaying our message, hopefully we will be building a strong foundation of support within each of the legislative districts.

Thanks for your continued efforts!


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Greek police union wants to arrest EU/IMF officials

Posted by nowisthetimeus on February 11, 2012

(Reuters) – Greece’s largest police union has threatened to issue arrest warrants for officials from the country’s European Union and International Monetary Fund lenders for demanding deeply unpopular austerity measures.

In a letter obtained by Reuters Friday, the Federation of Greek Police accused the officials of “…blackmail, covertly abolishing or eroding democracy and national sovereignty” and said one target of its warrants would be the IMF’s top official for Greece, Poul Thomsen.

The threat is largely symbolic since legal experts say a judge must first authorize such warrants, but it shows the depth of anger against foreign lenders who have demanded drastic wage and pension cuts in exchange for funds to keep Greece afloat.

“Since you are continuing this destructive policy, we warn you that you cannot make us fight against our brothers. We refuse to stand against our parents, our brothers, our children or any citizen who protests and demands a change of policy,” said the union, which represents more than two-thirds of Greek policemen.

“We warn you that as legal representatives of Greek policemen, we will issue arrest warrants for a series of legal violations … such as blackmail, covertly abolishing or eroding democracy and national sovereignty.”

The letter was also addressed to the European Central Bank’s mission chief in Greece, Klaus Masuch, and the former European Commission chief inspector for Greece, Servaas Deroose.

Policemen have borne the brunt of the anger of massed protesters who frequently march to parliament and clash with police in riot gear. Chants of “Cops, pigs, murderers!” are regularly hurled at policemen or scribbled on walls.

Thousands turned out Friday for the latest protest in Athens, this time against new austerity measures that include a 22 percent cut in the minimum wage.

A police union official said the threat to ‘refuse to stand against’ fellow Greeks was a symbolic expression of solidarity and did not mean police would halt their efforts to stop protests getting out of hand.

(Reporting by Lila Chotzoglou, Writing by Deepa Babington, editing by Tim Pearce)

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Occupy: Grand Strategy vs Self-Organization

Posted by nowisthetimeus on February 4, 2012

There are unprecedented global events taking place and the Occupy movement continues to evolve.

People are calling for planning of Grand Strategy.  There are disadvantages to this.

The new rules of the new context of global revolution demands that we first develop a process of adaptation to ongoing changes.  My suggestion is that a method be developed for evaluating the outcome of all proposed actions/events.  That way, whatever tactics are used, however the event progresses, the evaluative learning can be maximized to apply to future strategy.

Basically, until there are actions planned with specific goals in mind and then a measuring of how successful the action was in reaching said goal, the movement will continue going in circles.  Not that circles are bad…this kind of organizational progress can be good at creating momentum and participatory skill-building. Imagine a flock of swifts spiraling out of their roost.

The need for an evaluative approach trumps the need for a grand strategy for several reasons, the most important being that part of Occupy’s success has been due to a lack of centralized planning.  A Grand Strategy could limit self-organizing and spontaneous evolution.

Thinking more through the lens of complexity theory than chess will allow a greater flexibility of application and prevent the development of a static hierarchy that is easily disrupted.

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An Open Letter to the Presidents of All Washington State-Sponsored Universities

Posted by nowisthetimeus on February 3, 2012

An Open Letter to the Presidents of All Washington State-Sponsored Universities

Presented at a Forum on Budget Cuts in Higher Education

Town Hall SeattleFebruary 1, 2012



 You are here tonight to discuss among yourselves and the public draconian budget cuts both proposed and already enacted against all of the public universities in Washington State because of a supposed state budget deficit of $2.5 billion.  The fact of the matter is, the declared stated budget deficit is fraudulent, reflecting only approximately one-third of the public monies of which the Washington State government is presently in possession, consistent with current fraudulent public accounting practice in America by most government entities. www.cafrman,,

 As reflected in the state’s 2010 Comprehensive Annual Financial Report (CAFR) the Washington State legislature, through its financial agency the Washington State Investment Board (WSIB), is in control of at least $83 billion in corporate Wall Street investments through its pension and dedicated funds, including that for higher education.  That amount is probably exceeded by the amount recorded in the 2011 state CAFR now posted at  These funds are invested in the amount of at least $5 billion in the international banking cartel that has engineered the present global depression, divestment of which would not only wipe out the alleged present state deficit, but provide ample monies for higher education and the creation of a Washington public state bank.,,

Such a bank, like that which has existed in the State of North Dakota since 1919, would protect this state against depression and unemployment.  It would likewise invest our public monies in that which would benefit the people of this state, including investment in higher education, not benefit the international banking cartel, predatory transnational corporations and foreign entities to which, other than US government bonds, 95% of WISB investments are directed.,

 Of concern is the fact that the WISB is now not only investing our public money in opaque, exotic derivatives and credit default options (CDOs), the most unstable types of financial instruments now extant, but is diverting our public monies to foreign investments in predatory corporations that have committed crimes against nature and humanity.  Of concern is the fact that the Washington State legislature, while being fully apprised of the long-standing success of the Bank of North Dakota, has for the past two years failed to create the much-needed Washington state bank, claiming that this first warrants an “official study commission”, while its investment board has been investing in quasi-public banking entities overseas for years.  Of concern is the fact that the Washington State legislature is failing to tax or hold sufficiently accountable those transnational corporations in which it has significant investments.  Of further concern is the fact that the WISB was in 2006 behind Issue 4215, the unfortunately successful move to amend the Washington State constitution to allow private corporate investment of the monies from the state’s dedicated higher education fund that until then had been held safely in trust.  This constitutional amendment, significantly, was passed less than two years before the Wall Street collapse and bank bailout of 2008, resulting in the beginning of the draconian state cuts to higher education now being discussed at this forum tonight.

 Therefore, the most immediate remedy to these cuts to state higher education, both instituted and proposed, would be to divest the state pension and dedicated higher education funds of stock in the corrupt international banking cartel and predatory transnational corporations, to be used to eliminate the supposed state deficit, create a Washington state bank to invest the money of the people in the people of this state rather than everywhere else in the world, and provide immediate ample funding for higher education in the State of Washington, further augmented by proportionate taxing of all Washington State-based transnational and national corporations, including those in which the state government is invested.



An Advocate of the People

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Analysis: Washington State Investment Board Comprehensive Annual Financial Report(CAFR) 2010

Posted by nowisthetimeus on February 3, 2012


Washington State Investment Board

Comprehensive Annual Financial Report(CAFR) 2010

Investments in Commercial Banking Cartel

$5.1 billion

Investments in Foreign Quasi-Public Banking Institutions/Foreign Governments

$530.1 million

(This includes $177.5 million in much-reviled World Bank)

Investments in Predatory Transnational Corporations Other Than

Commercial Banks

$91.1 million

Investments in State-Based Public Corporations

Paying Virtually No State Income Taxes

$62, 5 million


Amount of State Taxes Major State-Based Corporations Would Pay If Paying Their Fair Share

$15 Billion

(This would wipe out the present alleged state deficit

six times over.)

Investments in Bank of America,

Washington State’s Financial Manager

$34.9/Nearly $35 Million

(BOA also receives millions for state government banking service fees)

Estimated Percentage of WIB Investments in Foreign Entities

Other Than US Government Bonds


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Washington State Investment Board has some $177.5 million invested in the World Bank

Posted by nowisthetimeus on January 27, 2012

Governments at all levels in most nations – like many criminal enterprises – keep two sets of books.

Uncovering the CAFR Scam:

CAFR: Comprehensive Annual Financial Reports

– the actual amount of monies taken in by the government through taxation, withholding  and other payment methods.

Activists — particularly those who were involved in or closely followed the 1999 WTO Battle in Seattle — would be gratified to know that the Washington State Investment Board also has some $177.5 million* invested in the World Bank, the financial arm of the World Trade Organization (WTO) that the activists in Seattle so powerfully protested, apparently to no avail in regard to the Washington State government.

The Washington State Investment Board (WSIB) is the agency responsible for investing all of the pension/dedicated funds controlled by the Washington State government, specifically the legislature.  It openly defines and conducts itself like a private corporation, not a public agency.

More details:

*Figures based on the 2010 CAFR

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Treason’s Greetings! (An Activists Holiday Card)

Posted by nowisthetimeus on December 20, 2011

Treason’s Greetings!

File:State of the Union.jpg
From the same public servants who have gifted us with:
o The 9/11 state terrorist attacks against the American people, as well as many other false flag state terrorist attacks against the people of the world since the 19th century;
o The incremental gutting of the US Bill of Rights using 9/11 as a pretext, with the USA PATRIOT Act of 2001, the Military Commissions Act of 2006, the proposed Homegrown Terrorism and Radicalization of 2007, and now the embedded detention/torture provisions in the
National Defense Authorization Act of 2012,  as well as many other such enabling pieces of legislation/unchallenged executive orders/statutes/policies and court decisions since the latter part of the 19th century;
o  Since 1989, the US Congress-sanctioned covert/proxy US military/NATO/UN/IDF genocides in Panama, Haiti, Kosovo/Bosnia, Central Africa, Lebanon, Iraq,
Afganistan, Gaza, Libya and Pakistan, with further planned US/NATO/IDF genocides in Syria and Iran, the latter seven also using the 9/11 state false flag terrorist attacks against the American people as a pretext for these war crimes;  this also includes the covert ongoing geobiocide — the destruction of the planet and all life upon it — occuring in and around, as well as from, 
Fukushima and the region of the Gulf of Mexico;
o  Aiding and abetting through strategic legislative action and inaction the banking cartel-engineered destruction, through massive fraud, of the global financial system and consolidation of control of the communications media and educational systems, with this financial and cultural terrorism being especially directed at the American people as a prominent example for all to take warning;
o  Aiding and abetting through strategic legislative action and inaction the use covert terrorism against the American people and the people of the world through chemical and biological toxification, mass mind control and disturbance of/in our air, water, land, food, water, medicine and physical wellbeing, the massive suppression of alternative energy technologies, the covert use of threats, harassment, illegitmate criminalization
and imprisonment as well as violence and assassination against those who dissent —
o  As well as so much more — all with the intention of reducing the population of our planet by 90%, the better to help the 1% completely to enslave those who survive. 
We the people — the real superpower — the 99% — must together take back our power from these inhuman systems created in our name that have betrayed us.  We must first confess our complicity in the creation of these systems through willful ignorance and denial, then act peacefully but decisively to dismantle them, thenceforth using our power to create that which truly sustains our integrity as  human beings, and that of this world which we seek more fulsomely to occupy.
May you draw power from that of this holy season, both to look within and act withal, on your own behalf and that of all life, humbly accepting the possibility of unexpected support from cosmic agencies during this unprecedented time of planetary crisis.

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Iceland Arrests Former CEO Of Failed Bank

Posted by nowisthetimeus on December 6, 2011

Iceland Arrests Former CEO Of Failed Bank by Adam Taylor in Business Insider

Iceland’s special prosecutor has taken Larus Welding, the former head of the failed Glitnir Bank, into custody, Reuters reports.

Glitnir Bank was the first of the top three Icelandic commercial banks to fail in 2008.

Former director of market trade Jóhannes Baldursson and former broker Ingi Rafn Júlíusson were also taken into custody and between ten and twenty other former employees of Glitnir Bank were also investigated.

They are expected to be held for a week, apparently to prevent tampering with evidence or witness coercion.

The Special Prosecutor’s Office released a statement that indicates their investigation will focus on four areas (via IceNews):

1. The purchase of Glitnir’s own trade of shares issued by the bank on the stock market. Also the bank’s purchase of and trade with shares issued by FL Group. 

2. Loans granted to various companies because of purchase of shares issued by the bank at the end of 2007 and in 2008. The original principal of these loans is believed to amount to almost ISK 37 billion (USD 310 million, EUR 231 million) in total. 

3. Trade with forward contracts on shares issued by the bank. 

4. Glitnir’s underwriting of the ISK 15 million (USD 126 million, EUR 93 million) stock offering by FL Group at the end of 2007, beginning of 2008.

The collapse of Iceland’s three biggest commercial banks left $86 billion in debt (Iceland’s 2010 GDP was only $13.3 billion).

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