Don’t You Know that God Gave Americans the Power to Fix All Wrongs? What Are You? Some Kind of Idiot, an Anti-American, a Pinko-Liberal-Commie? (Plan Revealed for Stealing FDIC Insured Depositors' US Funds by Non-Anti-American Pinko-Liberal Commies)

I believe Paul Craig Roberts has the right title for his latest essay.

And to read a little further into that title, it's something I've noticed for long over a decade because it seems to be the same national understanding that informs the opinions of those who want to tell me that the USA is still the best place in the world to live (it isn't, by the way), and that I should GET A JOB (and quit bitching).

And no, they don't mean the short-term, benefit-less contract jobs that are the only alternative for many of us older unemployed citizens at this time in history.

And stop telling them differently.

Truth Is Offensive

By Paul Craig Roberts

April 02, 2013

In America truth is offensive. If you tell the truth, you are offensive.

I am offensive. Michael Hudson is offensive. Gerald Celente is offensive. Herman Daly is offensive. Nomi Prins is offensive. Pam Martens is offensive. Chris Hedges is offensive. Chris Floyd is offensive. John Pilger is offensive. Noam Chomsky is offensive. Harvey Silverglate is offensive. Naomi Wolf is offensive. Stephen Lendman is offensive. David Ray Griffin is offensive. Ellen Brown is offensive.

Fortunately, many others are offensive. But how long before being offensive becomes being “an enemy of the state”?

Throughout history truth tellers have suffered and court historians have prospered. It is the same today. Gerald Celente illustrates this brilliantly in the next issue of the Trends Journal.

Over the past 35 years I have learned this lesson as a columnist. If you tell readers what is really going on, they want to know why you can’t be positive. Why are you telling us that there are bad happenings that can’t be remedied? Don’t you know that God gave Americans the power to fix all wrongs? What are you? Some kind of idiot, an anti-American, a pinko-liberal-commie? If you hate America so much, why don’t you move to Cuba, Iran or China (or to wherever the current bogyman is located)?

The ancient Greeks understood this well. In Greek mythology, Cassandra was the prophetess who no one believed despite her 100 percent record of being right. Telling the truth to Americans or to Europeans is just as expensive as telling the truth to the Greeks in ancient mythology.

In America and everywhere in the Western world or the entire world, telling the truth is unpopular. Indeed, in the USA telling the truth has been criminalized. Look for example at Bradley Manning, held for two years in prison without bail and without a trial in violation of the US Constitution, tortured for one year of his illegal confinement in violation of US and international law, and now put on trial by corrupt prosecutors for aiding “enemies of the US” by revealing the truth, as required of him by the US military code. US soldiers are required to report war crimes. When Bradley Manning’s superiors showed themselves to be indifferent to war crimes, Manning reported the crimes via WikiLeaks. What else does a soldier with a sense of duty and a moral conscience do when the chain of command is corrupt?

Julian Assange is another example. WikiLeaks has taken up the reporting function that the Western media has abandoned. Remember, the New York Times did publish the Pentagon Papers in 1971, which undermined the lies Washington had told both to the public and to Congress to justify the costly Vietnam War. But today no newspaper or TV channel any longer accepts the responsibility to truthfully inform the public. Julian Assange stepped into the vacuum and was immediately demonized, not merely by Washington but also by left-wing and right-wing media, including Internet. It was a combination of jealousy, ignorance, and doing Washington’s bidding.

Without WikiLeaks and Assange the world would know essentially nothing. Spin from Washington, the presstitute media, and the puppet state medias would prevail. So the word went out to destroy Julian Assange.

It is amazing how many people and Internet sites obeyed Washington’s command. Assange has been so demonized that even though he has been granted political asylum by Ecuador, the British government, obeying its Washington master, refuses to allow him safe passage out of the London Ecuador Embassy. Is Assange destined to live out his life inside the Ecuador Embassy in London?

Will Assange be a replay of Cardinal Jozsef Mindszenty who on November 4, 1956, sought asylum in the US embassy in Budapest as Soviet tanks poured into Hungary to put down the anti-communist revolution? Cardinal Mindszenty lived for 15 years in the US embassy. Today it is “freedom and democracy” amerika that is copying Soviet practices during the cold war.

In contrast with “freedom and democracy” US and UK, the “authoritarian,” “communist,” “oppressive” Chinese government when confronted with Chinese dissident Chen Guangcheng’s defection to the US embassy in Beijing, let him go.

It is an upside down world when America and the British refuse to obey international law, but the Chinese communists uphold international law.

Insouciant americans are undisturbed that alleged terrorists are tortured, held indefinitely in prison without due process, and executed on the whim of some executive branch official without due process of law.

Most americans go along with unaccountable murder, torture, and detention without evidence, which proclaims their gullibility to the entire world. There has never in history been a population as unaware as americans. The world is amazed that an insouciant people became, if only for a short time, a superpower.

The world needs intelligence and leadership in order to avoid catastrophe, but America can provide neither intelligence nor leadership. America is a lost land where nuclear weapons are in the hands of those who are concerned only with their own power. Washington is the enemy of the entire world and encompasses the largest concentration of evil on the planet.

Where is the good to rise up against the evil?

And another thing about the evil that these men do (and have done repeatedly) . . . isn't it nice that the next scheme to separate us from our money (and this one doesn't even require a sophisticated/phony derivative gambit) is already in the works and has been since last year? Seems that having received no punishment for their past indiscretions/criminality, they've moved right into outright theft.

It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors

Friday, 29 March 2013

Ellen Brown, Web of Debt

A crowd waits for a branch of Laiki Bank to open in Nicosia, Cyprus, March 28, 2013. (Photo: Angelos Tzortzinis / The New York Times)

 

Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.

New Zealand has a similar directive, discussed in my last article here, indicating that this isn’t just an emergency measure for troubled Eurozone countries. New Zealand’s Voxy reported on March 19^th:

The National Government [is] pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts . . . .
Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

Can They Do That?

 

Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.

The 15-page FDIC-BOE document is called “Resolving Globally Active, Systemically Important, Financial Institutions.” It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state:

An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution.

No exception is indicated for “insured deposits” in the U.S., meaning those under $250,000, the deposits we thought were protected by FDIC insurance. This can hardly be an oversight, since it is the FDIC that is issuing the directive. The FDIC is an insurance company funded by premiums paid by private banks. The directive is called a “resolution process,” defined elsewhere as a plan that “would be triggered in the event of the failure of an insurer . . . .” The only mention of “insured deposits” is in connection with existing UK legislation, which the FDIC-BOE directive goes on to say is inadequate, implying that it needs to be modified or overridden.