Stacy Summary: What say ye? I note in the ‘emergency control’ over internet story, this paragraph: “Probably the most controversial language begins in Section 201, which permits the president to “direct the national response to the cyber threat” if necessary for “the national defense and security.” The White House is supposed to engage in “periodic mapping” of private networks deemed to be critical, and those companies “shall share” requested information with the federal government. (“Cyber” is defined as anything having to do with the Internet, telecommunications, computers, or computer networks.)“ So, the emergency powers would extend to personal computers as well as the actual internet?
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Lucky us. We have Barney Frank.
Do you Dutch want him, MotherEarth? We could plan a swap?
As so long you look at it one bit at a time
Mike
BTW Where’s my crash?
Allrighty at leat we control the FED before we die, makes a happy dying!
Consumer sentiment at 4-month low http://link.reuters.com/myz63d
Whirlpool to cut about 1,100 jobs http://link.reuters.com/jyz63d
@Snoot
He would make friends in Amsterdam for sure..
The Dollar’s Fate http://url4.eu/KDyK
@MotherEarth:
Looks like the goon on his left may be a friend as well.
Oh.. its a Rockefeller who is drafing the bill…..
You can always trust a Rockefeller……….
Allrighty at leat we control the FED before we die, makes a happy dying!
WE????
Like WE control Congress?
I feel a Barney Belch coming on…
@Stacy:
I wanna be French now.
EVERYONE BE AFRAID OF CYBER TERRORISTS!@!!!!!!!!!!
@Internet
No .. they wouldn’t dare would they ?
After all, how will they spy on us if it’s disconnected !
@sharon … Video series
No, they didn’t mention 2012, but it was implicit in their talks. Gravitational field gets stronger via planetary alignment + gamma radiation storm as we move towards 2012.
@Snoot
Barney is openly gay, I can tell you external characteristics are no way to identify a homosexual, bad day for the homofobes..
@MotherEarth:
Sorry.
@MotherEarth:
I did not mean to be homophobic: Frank has a past of rewarding friends.
With taxpayer funding.
Oh great, another Rockefeller-Bilderberg attack on basic freedoms and liberty. These guys are screaming out to be satirized in the next James Bond flick. They’re certified… for the loony bin.
Off Topic again : PC Tech
.. while we’re all waiting for the crash.
More than pleased with using Opera and the built-in Opera eMail … browsing the web would be a chore without it !
Just a few tips for everyone :
Opera Browser – FREE
+ Opera Mail – FREE
Topstyle … THE HTML & CSS editor
Homesite .. the predecessor of TopStyle
HotDog .. a excellent but heavy HTML editor (sausagesoft )
Xara … the very best in creativity
XnView .. my favourite picture manager/editor for e.g. Ebay – FREE
VirtualBox – from Sun, free Virtual Machine – FREE
and Open Office .. FREE of course.
Just in case anyone is interested !
Homesite used to belong to Bradburysoft, until Macomedia bought them. Bradbury went on to create TopStyle … with a CSS based editor … excellent.
I have been using Xara for years … and then they were bought out by Magix .. ( shame, coz now it’s more expensive ). Any creative people out here will get their minds blown by the ease of use and functionality of this software ).
@AIG .. bubble bursting ?
Down 10$ from 56$ high to 46$ now.
I wonder if FNM, FRE and C will follow ?
Icelandic parliament agrees to Icesave deal, with conditions: Britain and the Netherlands have to agree to new .. http://bit.ly/ypeMP
What about us!?
Dutch royals win privacy case against AP: Pictures of the Dutch crown prince Willem-Alexander and his family on.. http://bit.ly/yyF6L
@Youri … thanks for the link :
Economic crisis in European Union
http://www.nrc.nl/international/article2160480.ece
Very good comparison map of the state of the EU .
Worst %age of debt to GDP :
Italy
Greece
Belgium
Hungary
France
Portugal
GERMANY
..
..
Nice to see them being honest about Germany !
Everyone things Germany is the strongest state .. but far from it .
If exports continue to dwindle, we’ll be truly in the sh*tter !
Honest Ben
Interesting Picture of Ben “World Saviour” Bernanke
http://www.ritholtz.com/blog/2009/08/honest-ben/
U.S. Household Income Flat as Consumer Spending Rises http://url4.eu/KBiB
Go Barney, get that big bad fed, we will give you all the credit.
Wow, any arm twisting here “must support USD”
Canada to sell $3 billion in US denominate bonds
First time in 10 years.
Wow, where do we line up for that deal…not
http://www.bloomberg.com/apps/news?pid=20601082&sid=aZnue_GPj.OU
Also,
Gold breaking up through a sideways pennant with a reverse negative quadrangular negative divergent uptrend. Well its about time.
More power Trippin’ from a bunch of geeks.
Just another remake of “Revenge of the Nerds” version 3.14
They can all kiss my hairy ass.
SEC. 23. DEFINITIONS.
In this Act:
(1) ADVISORY PANEL- The term `Advisory Panel’ means the Cybersecurity Advisory Panel established or designated under section 3.
(2) CYBER- The term `cyber’ means–
(A) any process, program, or protocol relating to the use of the Internet or an intranet, automatic data processing or transmission, or telecommunication via the Internet or an intranet; and
(B) any matter relating to, or involving the use of, computers or computer networks.
IMF Injecting $283 Billion in SDRs into Global Economy, Boosting Reserves http://tinyurl.com/kkkpvn
RECAP: IMF Plans to Inject $250 Billion Into Global Economy http://tinyurl.com/nqvlx6
Oopsie
SEC. 21. INTERNATIONAL NORMS AND CYBERSECURITY DETERRANCE MEASURES.
The President shall–
(1) work with representatives of foreign governments–
(A) to develop norms, organizations, and other cooperative activities for international engagement to improve cybersecurity; and
(B) to encourage international cooperation in improving cybersecurity on a global basis; and
(2) provide an annual report to the Congress on the progress of international initiatives undertaken pursuant to subparagraph (A).
@sharon special …
International Paper Treads Monsanto’s Path to ‘Frankenforests’
… ” Aug. 28 (Bloomberg) —
International Paper Co., the world’s largest pulp and paper maker, plans to remake commercial forests in the same way Monsanto Co. revolutionized farms with genetically modified crops.”…
http://www.bloomberg.com/apps/news?pid=20601109&sid=aEHNB_XJRWGU
Russian Arctic Sea – Cruise Missiles for Iran ?
Never Ask the Wolves to Help You Against the Dogs
http://www.financialsense.com/stormwatch/geo/pastanalysis/2009/0821.html
Federal Income Withholding Taxes
We have not updated this chart in quite a while: Here is the chart version of Treasury’s “Withheld Income and Employment Taxes.”
http://www.ritholtz.com/blog/2009/08/federal-income-withholding-taxes/
Oh dear !
On the Edge with Max Keiser – 28 Aug 2009 (1/3)
http://www.youtube.com/watch?v=_CPR5XjKX70&feature=sub
@phil
Its ok that chart only goes to minus 11%, So we are at the bottom
I’ve always admired the Swedish model
It is why Mr King did not rule the possibility of negative interest rates when asked about the Riksbank model this month following the unveiling of the quarterly inflation report. “It’s an idea we will certainly be looking at, whether the effectiveness of our asset purchases could be increased by reducing the rate at which we remunerate reserves,” he said. His comments are one reason why yields on short-dated UK government bonds have fallen to record lows and why sterling has been under pressure in the currency markets.
http://www.ft.com/cms/s/0/5d3f0692-9334-11de-b146-00144feabdc0.html?&nclick_check=1
@On the Edge with Max Keiser –
Aren’t you both supposed to be on holiday ?
Great work !
@Youri:
Who gave the IMF permission for the extra 33 billion? The g20 only voted to allowed 250 B in April.
SDRs are pegged to dollar, pound, yuan, and yen, right?
This will destroy dollar won’t it?
This is not even including the bond sales!
F*ck us running, Youri. The IMF just created the money out of thin air today! This is a gift, right? The countries get the sdrs and the IMF gets the people and resource grants of the countries? All the G20 countries got to partake? What is the allocation per country?
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAH
SDR QE ALLOCATIONS PER COUNTRY:
http://www.imf.org/external/np/tre/sdr/proposal/2009/0709.htm
@Youri:
Thinking out my a** today. Of course sdr pegged to euro, not yuan. And yuan, pound, and dollar are planned for a spritely exit stage left leaving eurostate hegemony, right? Are we just too much for you guys, we ignorant Americans, fun to play ain’t it? right? Let’s End the Fed. HA HA HA. Let’s worry about deflation. HA HA HA HA HA. Let’s sing along with Mish.
Re: HR1207
Geithner: HR 1207 a “line we don’t want to cross”
part1 http://www.youtube.com/watch?v=ZHSxA72En4c part2 http://www.youtube.com/watch?v=aU_FZPzb4GE
a 20 min interview by Digg.com and The Wall Street Journal. from 26 aug 09
@frances……..I wanna be French now.
Shall we go to France now?
@Sharon:
We had better fly away soon then. The sdr allotment, (ALLOTMENT? This is theft from the people of the countries these crapo politicians represent. g20 my ass. The governors of the board of the IMF meet and we get news on how the politicians vote for the monetary policy when it is the freaken owners of the bank telling the board how to vote. this is our democracy. the allotment is outright theft by the imf with the collusion of the poliiicos and the press…..)
WE will escape through the interstice with Dedo and the Clogging Officer at midnight on December 31. All the nice people get to come and we will leave the bankers to eat their gold.
@Sharon & Frances,….do I get to tend the pigs!!!!! : )
@Dedo:
Good god. Did I forget you behind! Sorry, mate, come aboard then, no need for the pigs. Cleetus said he’d watchem.
I think I might need to diet to get through the interstice.
@Phil…………….International Paper Treads Monsanto’s Path to ‘Frankenforests’
Flipping heck!
@frances……….we love you really!
@Dedo……………..what is it with you and pigs? Some sort of weird fetish you got going there?
How does this control work?
Only for the USA I presume, or will other countries other be affected?
If yes, we need to come up with possibilities to communicate independent of Big brother. F^%$ them!
Speaking of internet security and control, has any one noticed that one cannot view YouTube videos now without having an active user account with them? This registered user name must also be logged-in whilst one watches said YouTube videos. One used to be able to view any video at any time without being “logged in”.
As the freedom R3volution started to take off in America, YouTube has been a primary media outlet for freedom lovers to gain knowledge and insight into the lies of the MSM. Since the spark of the R3volution has been fueled by knowledge and the American gulag wants desperately to relegate American’s thoughts to only the gulag-supplied propaganda, this YouTube phenomena has caused both the Bush and Obama Administrations quite the conundrum.
That takes me to today. I typed into YouTube a search for videos from a group called Freedom Phoenix – 4409. I typed in 4409 into the search que and was taken to an interesting video of the founder of a group who was threatened arrest by the local police for holding up a banner that stated “Vaccines = Poison.” I was able to watch the video just fine and then made my way to good old Max Keiser. I then remembered there was another video that I wished to see, so I typed my way back to YouTube. This time through, however, I was REQUIRED to be logged in through a registered user name with YouTube.
YouTube has been documented as suppressing free speech on the internet by removing videos from Alez Jones. Additionally, various American National Fusion Centers throughout have been labeling supporters of Ron Paul and those against the Federal Reserve, against the North American Union, and against a one world paper currency are to be considered terrorists. Add in Obama’s indefinite detention program, flu pandemic and financial crisis, along with the constant chatter of Marshal Law, and I am a bit hesitant now to watch videos on there much longer. I for one use YouTube to educate myself about these topics, so now I can only be logged in to view videos about the topics of concern to me? Something ain’t right.
If these SOBs don’t control the internet through their legislation, they sure as hell will control it through buying off any relevant players on the internet market as a whole. They must be preparing for something pretty f’in big to want to shut down the internet at a moments notice.
Anyone else notice this out there?
@sharon…….Don’t knock it till you’ve tried it,…; )
http://allrecipes.com/Recipes/Everyday-Cooking/Gourmet/Gourmet-Main-Dishes/Pork/Main.aspx
Barny is a great name for this guy.
Did I see him scratch his balls?
Once we give up the internet folks, its all over.
, but if you think people like this have the power/capability to fight for your rights you’d better think again.
Time to speak up and not just expect jokers like BF do our bidding.
I don’t know Barney and I’m sure he is good to his kids
Its your turn.
Barney Frank is gay and ran a gay escort service from his basement in the 80′s. This ain’t a rumour, it’s on record. Not that there’s anything wrong with him being gay, but his name is quite prominent in the just published Franklin Scandal (Nebraska/Washington paedophile network) book by Rolling Stone/Harper’s mag journo Nick Bryant. It is suggested Frank may be an “in the pocket” compromised politician who can be blackmailed easily. He supported the bankers a bit too easily for my liking.
Watch the supressed Yorkshire Television/Discovery Channel documentary for a shocking introduction.
http://www.youtube.com/watch?v=jQ37lFha8Uo
HR1207 – to pass in October? That’s a long way off.
Expect some major distraction in September. (see Gerald Celente’s latest forecasts.)
The Barney Frank quote is actually a miss-quote. What is missing from most articles is the fact that it isn’t Ron Pauls bill that will pass but some bastardized Barney Frank version being touted as Ron Pauls… It’s a play on words that most writers seemed to just run with without checking their sloppy work. It is the ignorance of americans to simply accept what is being spoon fed to them like the lemmings they are…
Perhaps the headline is wrong
Barney Frank says HR1207 will pass
Should read
Blind squirrel finds nut
Missing Sentence in Transcript Causes Premature HR 1207 Victory Celebration
Several blogs and forums reported during the past 24 hours that Chairman of the House Financial Services Committee, Barney Frank, said that Ron Paul’s bill to audit the Federal Reserve, HR 1207, will pass in October.
Incorrect Reports about Barney Frank’s Statement on HR 1207
Washington Times: Barney Frank says Ron Paul bill will pass
Politico: Barney: Fed audit bill will pass in October
Business Insider: Barney Frank: Yes, We Will Pass Ron Paul’s “Audit The Fed” Bill
United Liberty: Frank: Vote on HR 1207 in October
Daily Paul: Video: Barney Frank Says House Will Pass HR1207 in October
ZeroHedge: Barney Frank Says The House Will Pass HR 1207 In October
Mish: Barney Frank Says Ron Paul’s Audit The Fed Bill Will Pass In October
Washington Independent: Ron Paul’s ‘Audit the Fed’ Bill to Get October Vote?
The source of the rumor seems to be the following video.
A sloppy and incomplete transcript, which appears to have originated at the Washington Times, is making the rounds. The transcript is missing an essential sentence, which is marked in bold:
Barney Frank: “I have been pushing for more openness from the Fed. I want to restrict the powers of the Federal Reserve. First of all, the Fed will be the major losers of power if we are successful, as I believe we will be, setting up a financial product protection commission. The Federal Reserve is now charged with protecting consumers. They were supposed to do subprime mortgage restrictions.
Congress in 1994 gave the Fed powers to ban subprime mortgages. Alan Greenspan refused to do it. They had the power to ban credit card abuses. Under Greenspan they did nothing. Under Bernanke they started but only after Congress acted.That’s one of the reasons why in the new consumer protection agency, we will take away from the Federal reserve the power to go consumer protection.
Secondly, they have has since 1932 a right under Herbert Hoover to intervene in the economy whenever they could. Last September, the Federal Reserve they were going to advance $82 billion to AIG. I was kind of surprised and said, ‘Mr Bernanke do you have $82 billion?’ Mr. Bernanke replied, ‘I have $800 billion and under section 13.3 of the Federal Reserve Act they can lend anything they want.’
We are going to curtail that lending power. We are going to put some restrictions on it.
Finally we will subject them to a complete audit. I have been working with Ron Paul, who is the main sponsor of that bill. He agrees that we don’t want to have the audit appear as if it influences monetary policy as that would be inflationary.
One of the things the audit will show you is what the Federal Reserve buys itself. And that will be made public, but not instantly because if it was made instantly people would be trading off it, so the data would be released after a time period of several months, enough time so it will not be market sensitive. That will be part of the overall federal regulation that we are redacting. This will probably pass in October.”
With “This will probably pass in October”, Frank is referring not to HR 1207, but to his own financial regulation bill, which might or might not include some aspects of Ron Paul’s HR 1207. The preceding sentence, “That will be part of the overall federal regulation that we are redacting,” is for some reason missing from the widely distributed transcript, and has therefore been completely ignored by bloggers and commentators.
In recent weeks Ron Paul repeatedly warned against just this sort of thing happening: that HR 1207 might become part of a more comprehensive financial regulation bill and be watered down so that it appeases the angry masses without instituting any real changes. It would be an irony of history if that happened — if HR 1207 were watered down and integrated into an unconstitutional bill that Ron Paul would have to vote against.
What did Ron Paul really say?
It has become fashionable for the political elite to try to distort Ron Paul’s statements for political gain or even put entirely new words into his mouth. Just the other day, Treasury Secretary Tim Geithner said, “Even [Ron Paul] recognizes how important it is to us to have the Fed independent of politics.”
Now Barney Frank claims that “[Ron Paul] agrees that we don’t want to have the audit appear as if it influences monetary policy as that would be inflationary.”
Ron Paul never said that an audit of the Federal Reserve would be inflationary. In fact, he has credibly demonstrated the exact opposite: that the secretive Federal Reserve itself is responsible for inflation, with the dollar having lost 96% of its value since the Fed’s creation in 1913.
Here is what Ron Paul actually said about HR 1207, the bill to audit the Federal Reserve, and why only a real audit will protect the public’s interest.
Ron Paul: “Mr. Speaker, the big guns have lined up against HR 1207, the bill to audit the Federal Reserve. What is it that they are so concerned about? What information are they hiding from the American people? The screed is: transparency is okay except for those things they don’t want to be transparent.
Federal Reserve Chairman Ben Bernanke, argues that HR 1207, the legislation to audit the Federal Reserve, would politicize monetary policy. He claims that monetary policy must remain independent, that is; secret. He ignores history because chairmen of the Federal Reserve in the past, especially when up for reappointment, do their best to accommodate the president with politically driven low interest rates and a bubble economy.
Former Federal Reserve Board Chairman Arthur Burns, when asked about all the inflation he brought about in 1971 before Nixon’s reelection, said that the Fed has to do what the president wants it to do, or it would lose its independence. That about tells you everything.
Not by accident Chairman Burns strongly supported Nixon’s program of wage and price controls the same year, but I guess that’s not political. Is not making secret deals with the likes of Goldman Sachs, international financial institutions, foreign governments and foreign central banks politicizing monetary policy?
Bernanke argues that the knowledge that their discussions and decisions will one day be scrutinized will compromise the freedom of the Open Market Committee to pursue sound policy. If it is sound and honest and serves no special interest, what’s the problem?
He claims that HR 1207 would give power to Congress to affect monetary policy. He dreamt this up to instill fear, an old statist trick to justify government power. HR 1207 does nothing of the sort. He suggested that the day after an FOMC meeting, Congress could send in the GAO to demand an audit of everything said and done. This is hardly the case. The FOMC function under HR 1207 would not change.
The detailed transcripts of the FOMC meetings are released every 5 years, so why would this be so different and what is it that they don’t want the American people to know? Is there something about the transcripts that need to be kept secret, or are the transcripts actually not verbatim?
Fed sycophants argue that an audit would destroy the financial markets’ faith in the Fed. They say this in the midst of the greatest financial crisis in history brought on by none other than the Federal Reserve. In fact, Chairman Bernanke stated on November 14th 2007, “A considerable amount of evidence indicates that Central Bank transparency increases the effectiveness of monetary policy and enhances economic and financial performance”.
They also argue that an audit would hurt the value of the U.S. dollar. In fact, the Fed, in less than a 100 years of its existence, has reduced the value of the 1914 dollar by 96%.
They claim HR 1207 would raise interest rates. How could it? The Fed sets interest rates and the bill doesn’t interfere with monetary policy. Congress would have no say in the matter and besides, Congress likes low interest rates.
It is argued that the Fed wouldn’t be free to raise interest rates if they thought it necessary. But Bernanke has already assured the Congress that rates are going to stay low for the foreseeable future. And again, this bill does nothing to allow Congress to interfere with interest rate setting.
Fed supporters claim that they want to protect the public’s interest with their secrecy. But the banks and Wall Streets are the opponents of HR 1207, and the people are for it. Just who best represents the public’s interest?
The real question is: why are Wall Street and the Fed so hysterically opposed to HR 1207? Just what information are they so anxious to keep secret? Only an audit of the Federal Reserve will answer these questions.”
By the time they pass that Bill the Fed will probably be enjoying the apocalypse of the economy and I’m guessing the FEMA camps would be filling up.
Bozo Franks now coming out as supporting the Audit the Fed bill shows that it was too strong to suppress.
What’s disturbing is this new Rockefeller bill concerning the Internet.
The U.S. Government would love to fully control it’s citizen Internet actives (i.e. like China). This bill would bring it one big step closer to that (all in the name of national security, of course).
Right, … and the Vietnam and Iraq wars showed the good judgment and honesty of the U.S. Government.