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NSA, Patriot Act, Bail-in’s, Govt Lies, & Poor Economy – It’s All Related!

A report was delivered to the President this week by a group of outside advisors regarding the NSA’s unconstitutional data collection techniques. Among many of the complaints cited in the report, the most unreported consequence of the NSA’s surveillance is the impact on commerce, and therefore capital flows and growth.

The report specifically mentions that, “Silicon Valley executives complained to Mr. Obama that the N.S.A. programs were undermining American competitiveness in offering cloud services or selling American-made hardware, which is now viewed as tainted.” A specific example was provided on Wednesday, when Brazil ditched Boeing jets, and grants $4.5 bln contract to Saab, citing NSA concerns.

What’s ironic about the concern from Silicon Valley is that it was the big tech companies that cooperated with the NSA (took money) to permit back-door access to their systems and data sharing. It’s almost as ironic as people giving the Fed credit for saving us from a financial collapse that was caused by the Fed; or the govt’s war on terrorism, drugs, poverty, and ignorance that are largely the result of its own insidious policies.

The violation of our Constitutional rights is obvious. So is the perjury by top “intelligence” brass, that should result in serious jail time. After all, if govt officials are permitted to lie with impunity, how do we know they are not lying every time they open their mouths? It is also important to understand the impact of a loss of trust and confidence in government on capital flows and growth.

However, the over-riding point that people should realize is that the NSA’s surveillance and data collection has nothing to do with stopping terrorism, and EVERYTHING to do with tracking down money for a broke government, and maintaining power.  General Alexander admitted months ago in his own words in front of the Senate Judiciary Committee that “one, perhaps two” plots were thwarted, and this new report says no proof exist that any of the NSA’s Constitutional violations have thwarted a single terrorist attack. Yet, people are still permitted to state on TV that if we had these unconstitutional tactics in place before 9/11, then the attacks could have been stopped. Based on what? The Govt had plenty of data that an attack was imminent, and they did nothing. The same thing is true about Bernie Madoff, MF Global, and all of the other cases of fraud and manipulation that have been documented over the last five years. Does it matter if the fraud was “missed” due to incompetence, neglect, or complicit behavior? In a free and just society, incompetence and neglect would result in business failure; and being complicit in a crime would also result in jail time. Only in govt can these type of activities result in bigger budgets, bonuses, and promises of high paying jobs in the private sector.

People have a hard time comprehending that it is their own govt that is at the heart of our biggest problems. After all, our political leaders tell us they are here to help. I’m sorry, but the facts and data say the opposite.  By its nature, govt must take money from its productive citizens to survive; and through its bureaucratic incompetence and inefficiencies, it does more harm than good for the groups it claims to help. The only people who benefit from govt, are those in govt.  If one does not yet understand the big picture or appreciate the Constitutional violations, they would at least have to admit that the NSA and DHS are incompetent, wasteful, and deserve to be shut down now. The only kind of security provided by the Dept of Homeland Security is of the investment type, and therefore they should at least take their security public.

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“Bail-ins” Are Coming

Do you think the “what-if” rescue option for the big banks in Switzerland will be any different that in the U.S.? Do you think the big money in Swiss banks will wait around for the next financial crisis to have their deposits bailed-in? If the big money flees, whose left to bail-in the banks? As the small depositors in Cyprus discovered, there is no such thing as “deposit insurance” when it comes down to you versus the banks.

Under a bail-in, Finma says it would distribute losses “across a range of
creditor groups” of the bank and, if applicable, its holding company. That would
include first shareholders, then bondholders and, as a last resort, “could”
include uninsured deposits of about 300 billion Swiss francs per bank.

Once again, I would refer you to STEP-2.

Is Deutsche Bank (DB) Another Lehman Brothers?

With Merkel’s PC economic ignorance, and the fear of bail-ins, some hedge funds finally blinked, yanking funds from one of the worlds largest banks, with a notional derivative book of almost $50 TRILLION.

Exactly one year ago I highlighted the risk associated with DB’S massive interconnected derivative book, which looks poised to finally provide the necessary coiling for US stocks and sufficient fear to capture the last of the govt bond bag holders.

db-exposure

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The Establishment Backs Hillary, Really?

The leaked DNC emails prove the obvious – the Democratic establishment is behind Hillary. I would assume that most of Sanders’ supporters understood the machine they were up against, just as Trump supporters knew the Republican establishment was dead set against Trump bringing an end to their crony money machine.

The question now becomes, will the people that voted for Bernie sell out like Bernie did, even though Hillary is on the opposite side of the most important issues that are destroying our country?  Conservatives overcame the Republican establishment, and booed the remaining holdout (Cruz and his Goldman Sachs buddies) at the Republican convention. It will be interesting to see if there are any Liberals that fight against the Democratic establishment. Sorry, the axing of Wasserman Schultz won’t cut it. Admittedly, as a wacho that got tongue tied trying to articulate the difference between a Democrat and a Socialist, she does make a convenient scape goat. However, the Democratic bench of central planners runs deep, and anyone that thinks the Clinton machine wasn’t pulling the strings of the DNC also believes Iraq still has WMD’s.

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Why a Lawless Hillary Equals the Greatest Depression

If anyone needs more evidence as to why our economy and free society are circling the drain, look no further than this Rasmussen poll, that shows half of those polled, and 71% of Democrats, think Hillary should still run for president IF INDICTED. Do these people not understand the impact of lawlessness on an economy? It’s not a coincidence that the poorest countries in the world are also the most corrupt. Maybe now that a former Secret Service Agent, that stood guard at the Clinton White House, has blown the whistle on how the Clintons operate, some might wake up. If Snowden is any example, Gary Byrne better be ready for his character to be thoroughly assassinated. Wouldn’t it be refreshing if the media pointed the finger at the wrong-doer instead of shooting the messenger?

Crisis

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A Scary New Propaganda Tool for Govt.

If you think it’s difficult to separate fact from fiction now, just wait until govt’s propaganda machine gets their hands on this technologyThe video demonstrates how any third party actor can be used to manipulate facial expressions of real people on TV. Now, govt won’t need to simply lie about events, they can use old footage of their villain and have them personally deliver the lie.

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ClimateGate: A Very Costly Fraud

On my way to work the other day, NPR was covering Friday’s photo op signing session to further propagandize the “landmark climate change accord that came out of negotiations at the COP21 climate summit last December in Paris”. They kept using the phrase “reduce climate change”. Does this mean they think man can reduce the variability of the change in our climate that has been occurring long before man walked upright?  Or did they mean “reduce global warming”, but were afraid to utter the previous propaganda term “global warming” because the planet has not actually been warming, as their doctored data would have us believe?

Bernie recently went for the propaganda “two-for” by urging Hillary “to support him on a TAX on carbon emission to curb climate change and support universal health care”, as if Obamacare has not done enough damage. Since we know you get less of what you tax, why isn’t there a tax on govt waste and hot air, or better yet the exponential rise in health care costs, caused by CONgress passing anti-competitive legislation and the regulators not enforcing EXISTING EPA laws and anti-trust laws against their donors? Govt could put the windfall proceeds back into Social Security, which they looted and replaced with soon-to-be-worthless Treasury IOU’s.

As we should know, the reason nothing logical gets done is the same reason the GOVT regulators at the SEC and CFTC did not enforce existing laws, and the Justice Dept has not prosecuted even one bankster executive for well-document sub-prime mortgage frauds and manipulations of interest rates, foreign currencies, and precious metals – the self-interest of those in govt is greater than the interest of the Sheeple, who they hope are still distracted watching Dancing with the Stars. However, as the global anti-establish movement is exhibiting, the world economy is finally getting bad enough that people have gotten up off their couch because they no longer have one.

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The FBI is Lying – What a Surprise

Denninger has documented the FBI lies, repeatedly, regarding Apple’s lack of cooperation in iPhone-gate. Anyone that understands the FBI’s involvement in the so-called terrorist attacks, and many other frauds throughout their history, should not be surprised. However, a majority believe the propaganda, at least that is what the polls tell us we should think.

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Conspiracies and Propaganda

Making informed decisions about political candidates, business strategies, or one’s own personal economic situation is challenging under any circumstance. It becomes even more difficult in our highly political economy, where our so-called Representatives and public servants, along with their surrogates in the media, will say and do anything to protect their self-interest. Beyond the normal convoluted political rhetoric, there are well-intentioned analysts and economists that are also feeding us erroneous information based on flawed economic theories and models, primarily because they rely on a US-centric view of the world, and data that lacks the historic depth for accurate back-testing. The world is way more complicated and inter-connected to rely on simple, one-dimensional, if this, than that explanations.

To make matters worse, one has to deal with the insidious propagandists that use a wide range of techniques to misinform and brainwash the unwashed, such as subversion, conspiracies, and false flags. The purpose of all of these strategies is to focus the light away from those responsible, and to erode the foundation on which we base our decisions.

We have been living through the results of flawed economic models and theories for at least 15 years, and if you live in Japan, it has been over 20 years. The “well-educated” theoreticians, that have been directing our economy from their ivory towers, still don’t understand that you cannot solve a debt problem by adding more debt. To help their bankster banks and overly indebted govt’s, central bankers reduced interest rates to near zero, and kept them there for over seven years. Instead of fanning the flames of inflation, which is a flawed, repressive strategy on its own, this Zero Interest Rate Policy (ZIRP) has sucked the oxygen out of the economy and punished savers. Yet, how many govt and Wall Street representatives have come on TV to tell you things are better than before the financial crisis in 2008? For example, when talking about the economy in his SOTU speech, Obama said, “Anyone claiming that America’s economy is in decline is peddling fiction”. The charts above, and the 21 New Numbers That Show That The Global Economy Is Absolutely Imploding paint a picture of reality that is a bit different.

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Clinton’s Sexual Misconduct – Screwing Students and MUCH More

If further proof is needed that the mainstream media are in the tank for Hillary, look no further than the student loan debt crisis facing many of our youth, who cannot find good jobs to pay back the massive pile of debt required to pay for runaway tuition prices. It was Bill Clinton who handed the students head on a platter to his bankster donors, when he signed the Higher Education Amendments in 1998, which made it virtually impossible to discharge student loan debt in bankruptcy. Only a person who participated in the MKUltra project could believe that Hillary is for the little guy.

The bankruptcy process is the free market’s way of protecting against imprudent lending. If banks must suffer the consequences of making bad loans, they will conduct the proper due diligence to maximize the probability of getting their loans repaid. However, if lenders can make loans that the govt backs with the promise to hound the borrower until they die, then the consequence for imprudent lending is reduced, resulting in loans being made to anyone with a pulse. As long as we have career politicians like the Clinton’s and Bush’s, banksters and anyone looking to eliminate the competition (i.e. healthcare industrial complex) will find it easy to buy the perfect, risk-free trade.

When ignorance gets started it knows no bounds – Will Rogers

Just as this imprudent lending produced the real estate bubble and mortgage crisis, the over-abundance of student loan money has driven tuition costs beyond what can be afforded by a part-time job, as was the case before the financialization of America and explosion of debt that started in the early 80’s. Just like all subsidized industries (i.e. healthcare), universities are more than happy to take the money to pay for unsustainable pensions, without any incentive to actually graduate kids with the skills needed to obtain a job they went to school for, which now applies to 60% of graduates. BTW, these same negative consequences would result with Bernie’s plan to make Wall Street and tax payers pay for a free ride, except his plan insures there will be less jobs available for the unprepared graduates. The lessons from our grandparents still apply – you get what you pay for, and there’s no such thing as a free lunch.

glass-steagall

Pictured above includes, infamous insiders Larry Summers (far left) and Boehner (far right). Who you don’t see is McCain (between Greenspan and Phil Gramm).

It just so happens that this unbridled, imprudent lending practice was also unleashed by the Clintons when Bill signed the Gramm-Leach-Bliley Act in 1999, which dismantled Glass-Steagall, the legislation that was put in place in 1933 (after the 1929 crash) to separate traditional (relationship) banking from commercial (transactional) banking. Once commercial banks could use grandma’s savings for their PROPrietary trading, and get their too-big-to-fail losses covered by the tax payer, well, as they say, the rest is history.

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