Stacy Summary: Last item via mikephilbin.blogspot.com
- New Zealand bails out failed money lender, total bill is $405 for every man, woman & child
- Citibank plans to triple workforce in China
- William K. Black: On Theoclassical Law, Economics and ‘Investing in’ Business Friendly Judges
- Summer movie box office falls to lowest since 1997
- Massive solar storm to hit Earth in 2012 with force of 100 million hydrogen bombs; if as bad as feared, could age satellites by 50 years and cause damage to high-tech infrastructure
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Hell. After the distribution of food and the popcorn at the cinema, the cyber security act, Hollywood takeover by DHS is just a logical conclusion. Isn’t it ?
I was just kidding. Or.??????? ……Am I ? 
Usiually what I joke about, happens ! Be advised. 
Will we see more feature films, designed to alarm our worst fears, such as like Cropsey (2009) :
http://www.imdb.com/video/screenplay/vi218892057/
and forever revisit other such dark events:
http://www.youtube.com/watch?v=nG_SH6PzqIA
Will we have more movies like Knowing (2009) (with Nicolas Cage, who interestingly is also in Kick-Ass (2010)? Knowing is about the end of life on Earth due to Solar flares. At least 2012 (2009), has a slightly happier ending:
http://www.imdb.com/video/imdb/vi3444113945/
Will we see the likes of another Paul Raymond again:
http://www.telegraph.co.uk/culture/books/7973964/Why-Paul-Raymond-the-porn-king-of-Soho-was-a-hero.html
Or will the moral panic suck in every state, like a black hole, that is presently erupting now against Craigslist, as the tried and true proven distraction and diversion from Bankster looting and usurpation:
http://traffickingproject.blogspot.com/2010/08/state-attorney-generals-call-on.html
@ Marc Autheir
Same here, can you please share any more info about Hollywood under Homeland Security?
Does this mean more Comstockery? Comstocker(y) — censorship. Ruthless suppression of books, plays, etc., as deemed offensive to public morals, (after Anthony Comstock, 1844-1915).
In my comment:
http://maxkeiser.com/2010/08/15/tavakoli-how-to-thwart-assassins-american-dream/#comment-151106
I talked about the supplanting of sexuality of the young with ultra-violence in our subsequently weaponized culture. I gave some contemporary fictionalized cultural examples, because it is on many levels wrong to use real life examples of the new mindset. But if I must prove that real-life mind-set exists, Google “Glock brain slushie”.
I cited Kick-Ass (2010), as one of my examples. Well apparently Kick-Ass II just got green-lit:
http://jezebel.com/5627388/will-kickass-2-have-twice-the-hit-girl
@ Marc Autheir,
You make me laugh in a good way. Especially about Ben Ladin being on the sun…..
What is the link to Hollywood coming under the control of Homeland Security? Not that I doubt it a bit.
@stacy, max
Thanks for the link to Black’s essay. I’ve printed it off for easier reading and will scan and send.
The American people are truly uneducated by in large. This is the crisis that our country faces. That and the inability of a portion of the population to read and comprehend because of being drugged and damaged.
HAHA LOL! 3.10 on David’s Solar Storm YouTube link.
“That would knock down everything!” The presenter sounds so ungenuine.. What is this radio station?
Anyway, I did first think about a pole switch.
No matter how ego-centric the human race remains, it continues to be revealed that we are floating on some drift wood in the jetsam and flotsam of the Universe.
At first our (western) beliefs said we were the literally the centre of the universe and our growing knowledge showed it was false. Then our beliefs adjusted but still kept us at the centre of “Gods” universe.
When will the human race begin to realise we are a flash of life on one tiny grain of sand on the beach of the universe?
It shows that our concerns are so navel gazing and insular and that our undoing will be completely external. Needless to say, the most prepared will be the financial sector, those high frequency trading machines may be the only computers still working…
When it happens, will Max and Stacy being running a postal order service so we can order their latest programs on 8mm film? I’ll look forward to that and like to reserve my copies on PFM.
I heard in tthe grapewine that Ben Laden is now on the sun. Uncle Tom declares that the Sun now part of the Axis of Evil. Israel threathens to attack the Sun if it doesn’t collaborate and disarm itself immediately.
i refreshed the page and now it works.. that’s better…
thx for link
@M Lytle: part one of dangerous knowledge is very good. however the screen on part two is all dark when I play it. I am not at all certain to see the rest. Very disturbing.
Hollywood now under jurisdiction of Homeland Security.
Makes me thing about the 2000 bug and Al-CIA-Miossad-a. Sun terrorist 2012. So when does Uncle Tom Obama nuke Teheran ? USA world Evil Empire destroyed by Sun.
And blow up yout computer and about all electronics devices. Hasta la vista couputer and modern world. Better get use to walking and the buggy horse. This of solar storm will also heat the Earth. Expect extreme wheather.
Just a question remains ? They say ‘could’. How can they that sure that’s it’s going to in 2012 and it will be 100 million hydrogen bombs ?
Hey ! Enjoy life one day at a time and fuck Nazi-Nasa. We will have to go back to the cave.
@all those who viewed Dangerous Knowledge – I thought of a flickering log fire and the futility of predicting the precise activity of the flames. For me it is enough to accept that you have some logs, you burn them, and the end result is ash. The flames are as random as the waves on the sea. Maths is, by virtue of numbers, patterns with predictable limits. Believing you are able to prove otherwise will drive you mad.
care to explain how all those stolen and borrowed myths complied into the Torah causes these “successful Jewish scientists?” farang
Nearly every culture on earth has a Flood myth. I wonder why that is? The Babylonian ark however was a cube which isn’t a seaworthy ship whereas the ark described in Genesis has the dimensions of a modern ocean liner.
Of course if we are all descended from the same ancestors (as science confirms) , then their will be similar traditions.
China should ban all NWO banks.
funny thing about science, and scientists…so many seem to want to impose their BELIEF “systems” upon us with absolutely no factual evidence.
For instance, here we have an article dated August 24 by a Junior majoring in “Religious studies” masquerading as a scientific expert: Carly Silver.
http://www.archaeology.org/online/features/bull_killer/
Her credentials: “Carly Silver is a junior at Barnard College, Columbia University, in New York City. A religion major, she is concentrating on ancient belief systems and their effects on the development of monotheism.”
Now, the very first “expert” she quotes, and what he asserts in this “archaeological” magazine:
“Greco-Roman religious scholar Luther Martin says that Mithraism remained de-centralized throughout the Empire. Its contemporary, Christianity, got its central administration from St. Paul, who derived it from Judaism. Both it and Mithraism “were…pretty much locally controlled affairs,” he says, though Christian communities did “come together as a coherent institution…after Constantine.In Chapter 70 of Dialogue with Trypho, the 2nd-century Christian author Justin Martyr writes that Mithras’s worship in a cave and his “rock birth”–a frequent depiction of the god, emerging from a stone–is taken from Daniel 2:34 and Isaiah 33. The Mithraists “have no understanding” of these Scriptures, says Justin.”
Got that? “Christianity, got its central administration from St. Paul, who derived it from Judaism.” Paul, who was in reality ApPOLonius, same as “Paul” right down to their sidekicks
idymus.”
Of course, as usual, only the very opening has the jewish gibberish, the rest of it is credible archaeology.
Justin Martyr LXXI: “And when those who record the mysteries of Mithras say that he was begotten of a rock, and call the place where those who believe in him are initiated a cave, do I not perceive here that the utterance of Daniel, that a stone without hands was cut out of a great mountain, has been imitated by them, and that they have attempted likewise to imitate the whole of Isaiah’s words?”
Realityville for those that think for themselves:
“rock birth” people is PETRA which is Greek for PETER. Siamun the Egyptian pharaoh. Who do you think is carved in rock at the ROCK CITY OF PETRA? Siamun aka SIMON PETER. EGYPTIAN “Nabatean.”
“Paul” is Appollonius, and even early Catholic church fathers acknowledged it.
But that wasn’t my point, rather how it was reinforced, this jewish lie, right at the beginning, is my point.
Let’s look elsewhere at another recent article. Here is one dated “September/October from the Yale Alumni, how can these brainiacs be wrong???
http://yalealumnimagazine.com/issues/2010_09/egypt3841.html
Now, I do not know the religious background of the prior Ms. Silver. Nor do I know the religious background, if any, of this author Ms. Pringle. But I do find it “very curious” that both have an opening argument supporting some jewish myth.
Let’s look:
“The Lost City
A discovery in the desert could rewrite the history of ancient Egypt.
September/October 2010
by Heather Pringle
Heather Pringle is a contributing editor at Archaeology magazine.
For much of the twentieth century, Egyptologists shied away from explorations in the vast sand sea known as the Western Desert. …..[yada yada yada we edit here]….. “Umm Mawagir, as the city is now known, flourished in the Western Desert from 1650 to 1550 BCE, nearly a millennium after the construction of the Great Pyramid at Giza. This was a dark, tumultuous period of Egyptian history. Entire villages lay abandoned in the Nile River Delta, victims, perhaps of an ancient epidemic.” ]
Got that????? “perhaps because of an ancient epidemic.”?????
YEAH PRINGLE, and MAYBE THEY WERE ABDUCTED BY ALIENS: I HAVE AS MUCH PROOF TO OFFER OF IT AS YOU DO YOUR jewish myths.
That it was slipped into a real archaeological article SAYS VOLUMES.
But hey, I’m no “jewish scientist” what do I know? I know a lie and a damn lie and deception when I see it.
Funny thing. Here you have a Wikipedia link. Is it a credible link? Explains the evidence and history of a person called “King David.”
Reign over Judah c.1010 – 1003 BC; over Judah and Israel c.1003 – 970 BC.
Born c. 1040 BC
Birthplace Bethlehem
Died c. 970 BC
Place of death Jerusalem
Predecessor Saul (Judah), Ish-bosheth (Israel)
Successor Solomon
Consort
Michal, Ahinoam, Abigail, Maachah, Haggith, Abital, Eglah and
Bathsheba.
Royal House House of David (new house)
Got it? Born 1040 BC. Died 970 BC. Kind of cut and dried, isn’t it? Has an “Ahinoam” as a consort=A “key.”
Here’s another, from Wikipedia, I have edited it to condense it: “David commits adultery with Bathsheba, the wife of Uriah the Hittite. Bathsheba becomes pregnant….to Joab, the commander, with a message instructing him Uriah to abandon Uriah on the battlefield, “that he may be struck down, and die.” David marries Bathsheba and she bears his child, “but the thing that David had done displeased the Lord.” Got it??
So “SOMEONE gives “David” a lecture: “The prophet Nathan confronts David, saying: “Why have you despised the word of God, to do what is evil in his sight? You have smitten Uriah the Hittite with the sword, and have taken his wife to be your wife.”
Okay class: who is “Ahinoam?” If I told you it means “lovely one, or beautiful one…would that help? How about if I told you that “prophet Nathan” sure sounds a lot like the pharoah the Greeks called Echnaton…Father Nathon. ALL pharoahs were MERYS= Head of the Church. Ahkenaten, aka Moses, was lecturing Psusennes, and was pissed at him because he had taken Nefertiti from him.
Figure it out godfolks, figure it out and evolve please.
Now here is an Egyptian pharaoh named Psusennes I. Let’s look at his history, shall we?
Psusennes I
(Akheperre-setepanamun Psibkhaemne)
1040-992 B.C.
21st Dynasty
Psusennes I was the third king of the Twenty-first Dynasty and is probably the best known of all this dynasty’s kings. This is because of the discovery of his intact tomb during the excavation of Tanis. His mummy was found in the tomb and was that of an old man.
Now, Psusennes I was pharoah over a land known as Philistia. Palestine. ALL pharaohs were until the time of the Greek invasion of Alexander the Great. Including this period of this great “kingdom” of David.
Tell me F. Beard, who is this PHAROAH?
Psusennes I, or [Greek Ψουσέννης], Psibkhanno or Hor-Pasebakhaenniut I [Egyptian ḥr-p3-sb3-ḫˁỉ--nỉwt] was the third king of the Twenty-first dynasty of Egypt who ruled between 1047 – 1001 BC. Psusennes is the Greek version of his original name Pasebakhaemniut, which means “The Star Appearing in the City”
“THE STAR APPEARING IN THE CITY.”
Who is he, F???
Howza bout this? “David’s” successor was “Solomon.” Psusennes I successor” Siamun. Get’s better: who was “Siamun?
Could he be SIMON?? SIMON PETER, the FOUNDER OF THE CATHOLIC CHURCH????
YOU TELL ME F. Beard:
Siamun
Ankhefenmut adores the royal name of pharaoh Siamun in this doorway lintel.
Ankhefenmut adores the royal name of pharaoh Siamun in this doorway lintel.
Pharaoh of Egypt
Reign 986–967 BC, 21st Dynasty
Predecessor Osorkon the Elder
Successor Psusennes II
Royal titulary
Prenomen: Netjerkheperre-Setepenamun [Neter Pierreaka aka Peter]
Like a God is The Manifestation of Re, Chosen of Amun
M23 L2
Hiero Ca1.svg
N5 R8 L1 i mn
n U21
n
Hiero Ca2.svg
Nomen: Siamun
Son of Amun
So who was JESUS???
EGYPTIAN. Aristobolus III.
Now go tell a jewish scientist how brilliant they are because of the Torah, woodja?
F. Beard: “I wonder if the success of Jewish scientists is due to 1) the Torah (Old Testament) and 2) their isolation from Roman Catholic philosophy? I was raised Roman Catholic and was taught that God was infinitely old or that time did not apply to Him yet the Old Testament implies that God Himself had a beginning (Isaiah 43:10). ”
Since the entire Torah is made of of “borrowed” myths of the Sumerians, and Egyptians and Akkadians (head god “EA”=YA, and court officials “Rabi”, and ALL ancient hebrew written in Akkadian alphabet, there was no hebrew alphabet), and many artifacts showing advanced math long before the Greeks and long before the “Jewish scientists so successful,” care to explain how all those stolen and borrowed myths complied into the Torah causes these “successful Jewish scientists?”
Thank you.
http://www.telegraph.co.uk/finance/comment/jeremy-warner/7972006/Central-bankers-are-gearing-up-for-another-dose-of-quantitative-easing.html
Well I never
@Henk
Yeah, M-Theory or notions like 1O-66 cm2
As president of the Royal Netherlands Academy of Arts and Sciences and as one of the two co-chairs of the InterAcademy Council, Robbert Dijkgraaf is certainly bright.
My early idols in science and cosmology were Carl Sagan and R. Buckminster Fuller.
Off-Topic and quite trite, but my favorite video from Netherlands:
http://www.youtube.com/watch?v=n-AbPav5E5M
I wonder if the success of Jewish scientists is due to 1) the Torah (Old Testament) and 2) their isolation from Roman Catholic philosophy? I was raised Roman Catholic and was taught that God was infinitely old or that time did not apply to Him yet the Old Testament implies that God Himself had a beginning (Isaiah 43:10). I’m wondering if classical physics is not Roman Catholic physics?
Hey Mark Lytle, I am enjoying Dangerous Knowledge. Thanks.
@Mark Lytle
Princton has also done studies that show radioactive decay can be affected by psychic power as well. They may be right but without having done the experiment myself, I am skeptical. There is too much politics and personality in science to be open (empty) minded. A few years back, scientists thought they discovered a fifth force in a Greenland borehole gravitational experiment or something like that and I remember reading of a superluminal propagation theory for light in a book written in the 30′s. Truth is, who knows? I’m still waiting for chocolate flavored quarks to come out and my cold fusion experiment is as cold as the stock market’s August performance.
Fifth force
http://en.wikipedia.org/wiki/Fifth_force
The Physical Basis of Intentional Healing Systems
http://www.princeton.edu/~pear/pdfs/phys.heal.pdf
Dangerous Knowledge – excellent shows – thx. As for thoughts that kill – War is a thought that kills too.
New Zealand – gee… sounds familiar.
Citibank – Doesn’t sound like China has learned anything. They may be standing after the U.S. economy falls… but not for long. $430 billion in U.S. Treasury bonds disappear? heh.
http://dailybail.com/home/citigroup-is-cooking-the-books-and-the-sec-is-getting-involv.html
http://au.ibtimes.com/articles/47452/20100831/china-central-bank-defection.htm
Theoclassical law – When you have money, what else do you do with it except corrupt the system to squeeze more out. Having money isn’t the root of all evil – the love of money is. These guys are parasites.
Summer Movies – I used to love saturday matinees. Haven’t seen one in years.
Solar storm – I say we construct a great solar shield between the earth and the sun made of corrupt bankers and politicians. This way we can fix both the world financial problem AND global warming. Cool.
I find the odd thing about the gathering asteroids is that they are seemingly following their energy paths and are entirely associated with (our) Earth. My off-the-wall conclusion is that they (the asteroids) are gathering in response to our (human) energy i.e. an ongoing galactic/universal energy feedback loop. I’m pretty sure we loop with the sun via our thoughts, dreams, actions, words and emotions and the sun is inspired to loop that energy to the entire universe including it’s solar radiation to Earth. Love quantum mechanics but I have a limited imagination! Or I’m crazy…………………………
SOLAR STORM!
Of course will not have any effect on “Man Made Global Warming” according to Max and Stacy as the Sun is just an insignificant part of our weather system.
@intheend
I forgot to address your main point. Yes, somewhere a while back I heard that put forth (about a percentage of bogus research) , In fact I seem to recall someone testing a prestigious journal by putting a bogus paper out for publication within it. It was ‘peer reviewed’ and then published. The author then announced what he did. Quite embarrassing. Maybe someone else remembers the incident…
@swell
Just completed watching Fermat’s Last Theorem. Very good!
You could see the pain in this man when it came out that there was a problem. He was not a public person, and he had to find the correction with a lot of eyes on him. I would say his colleagues were very understanding…they gave him his space…and he prevailed in the end.
The list of names of other mathematician’s work he had accessed to finish the job was very impressive as well…
@in the end
Yes, peak jobs for scientists could be happening..I think the Large Hadron Collider is a desperate and needed attempt to break through to new turf…
@David Campbell
Yeah, I too have been following studies on the Earth’s magnetic field fluctuations and that pole flip eventuality:
http://www.youtube.com/watch?v=pP88J_nzanE
@Mark Lytle
Yeah, it really sucked that they felt it necessary to give Alan Turing a chemical castration after all he did for the world and government in particular. I found it also interesting about Boltzmann proving disorder with his equation:
S = k. log W
And then his body was found hanging.
Like in Dangerous Knowledge, there is also suicide in Fermat’s Last Theorem (1996).
Maths is hard.
Here is also a threat of what could happen if this solar flare could hit Earth a Pole Shift!
http://www.youtube.com/watch?v=2ahoPGzL50Q
@jischinger
ohhhhhhhhhhhhhhhhhhhhh baaaaaaaaammmmmmmmmmmmmmmmmaaaaaaaaaaaaaaaaaaaaaa
ohhhhhhhhhhhhhhhhhhhhh baaaaaaaaammmmmmmmmmmmmmmmmaaaaaaaaaaaaaaaaaaaaaa
ohhhhhhhhhhhhhhhhhhhhh baaaaaaaaammmmmmmmmmmmmmmmmaaaaaaaaaaaaaaaaaaaaaa
ohhhhhhhhhhhhhhhhhhhhh baaaaaaaaammmmmmmmmmmmmmmmmaaaaaaaaaaaaaaaaaaaaaa
ohhhhhhhhhhhhhhhhhhhhh baaaaaaaaammmmmmmmmmmmmmmmmaaaaaaaaaaaaaaaaaaaaaa
ohhhhhhhhhhhhhhhhhhhhh …lol
@ Swell
Thank you for this video…
I’m so into the string theory… and makes this discuddion about global warming wich has been discussed also on this side so trivial…
Thank god for people like rober dijkgraaf who is head of the IAc and a great mind…He is professor of the departmnt who develops the stringtheory in amsterdam..
@Mark Lytle
There is some thought that a certain percentage of published research these days is bogus. Have you heard of such a conjecture?
Peak jobs…for scientists? How sad. What is going on? It would seem that positions of science, medicine and technology would be at infinite.
@Youri
It is fun watching the modern computer animations fit those tectonic plate puzzle pieces all together. Made me smile.
@What-me-worry?
how are we still alive? when do they invade? it is like flip heads 1 million times. i don’t know…that is a thick soup of potential threats…or can we extract precious metals from them and grow our economies? hmmm.
@swell
I’m going to check out Fermat’s Last Theorem (1996)
I’m glad you saw Dangerous Knowledge. Great synopsis of how science got to where we are now…
@Youri Carma
interesting videos! it always amazes me when i see a view count and it is 300k and i wonder how did everyone get clued in before i was able to learn about it!
@WL
You should post a thesis or something so we could read less.
@swell
Yes, the groundwork for modern technology took a long time, but the Greeks were big contributers…
Solar storm – I have no reason to doubt that and every reason to believe it’s a ‘fact’.
If you are in to all things spacey then check this vid ‘Asteroid Discovery From 1980 – 2010′ if you have 3 spare minutes (read poster’s text also):
http://www.youtube.com/watch?v=S_d-gs0WoUw
re solar storm (2)
this probably explains a lot with Obama. the dude is in the know, right? so he is just kick’n it. why sweat it: why sweat the small stuff. golf, vacation…golf some more, vacation some more…vacation again. 40 million on food stamps. trillion dollar deficits as far as the eye can see. sheesssh that is nothing compared to “the perfect storm.”
EVERYBODY PARTY LIKE IS 2012!
@Mark Lytle
What astounds me is how much of this math that Diophantus (200′s C.E.), had already figured out when books were mere scrolls of papyrus.
http://en.wikipedia.org/wiki/Diophantus
More here on Moody’s :-
http://www.nytimes.com/2010/09/01/business/01sec.html?_r=1&src=busln
re solar storm
I say “BRING IT ON!” By 2012 our economy will suck so bad, we will be so desperate for something, anything different that I bet people we will cheer it on.
Oh, but what about global warming, climate change or pseudoscience…or whatever it is called today? On the other hand, we had better get back to greening our lifestyle/economy because…after the solar storm, we will need to think again about how to bring “flowers to the air.”
Wait! …does the solar storm damage the flowers? Anyone know?
Oyster herpes. On Stephen Colbert’s “Aqua Threatdown” (10 minute mark)
http://www.colbertnation.com/full-episodes/mon-august-23-2010-leslie-kean
computer glitch = fraud charges dropped
http://www.bbc.co.uk/news/business-11147475
More like – if you shaft us, we shaft you thrice over
From the article: “The reason for the concern comes as the sun enters a phase known as Solar Cycle 24.”
Solar Cycle 24 = Current Global Warming
Man is cleared of all charges! Hip hip hooray!
Finally, will all you man-made global warming folks go back to saving trees, seals, or whatever it is you do!
@Mark Lytle
I loved Dangerous Knowledge, and I’ve watched it many times. Here’s another one right up that alley, Fermat’s Last Theorem (1996) :
http://video.google.com/videoplay?docid=8269328330690408516#
Stephen Colbert’s “Terror Bunker 5200″
http://www.colbertnation.com/full-episodes/tue-august-24-2010-jeffrey-goldberg
@dedo and @what-me-worry?
)
felt I should share this with you!
Just watched Inception. Only hellywood can mix philosophy with so much killing and explosion.
Anyway I think one can count me as a good example of morphic-resonance. Because until yesterday I had not heard of that movie or it’s plot. And assuming thousands had seen that long before me, it is interesting that I have been contemplating and talking about ideas and how contagious they are. It certainly made me wonder. sincerely yours resurrected one
100 million hyroden bombs?
whats the equivalent in carbon credits?
Here, Jim, partake.
Where am I? Who are you? What is it?
It’s ambrosia. For you.
Ambrosia! Good God, NO! It’s on every table.
Jim, what are you saying?
It’s nuts, packed in plastic! It’s mealy apples! It’s mandarin oranges, but not fruit! It’s Coolwhip! Frothy, sugary, horrid! It’s RAISINS!
Jim, it’s not that.
Good God, you’re beautiful.
I’m a Goddess. Partake, Jim.
NO! NO! HELP! SNOOT!
——-
Jim, what is it? You’re covered in a cold sweat!
Oh, I was dreaming. I thought I was back with them.
Who is them, Jim?
They call it Am-bro-sha. They buy plastic dolls and curios that line their dusty bookshelves. They don’t walk: they drive. They speak with a twang.
Oh, your dreams about the South.
Yes, and they drink sweet Tea. Gallons of it. They say “Don’t let the door hit you in the ass,” and “do-be Jesus!” And I drove for days but couldn’t find the county line!
Jim, it’s just a narrative. “They” don’t exist.
They don’t?
No. Snoot doesn’t either.
No?
It’s all words. That’s all. Look outside, what-do-you-see?
It’s black and the sky is punctured with lights.
Yes, that’s nice, isn’t it? And what do you smell?
Sweet jasmine perfume.
Right. And Jim. Why do you fear?
Because the words mean something, don’t they?
No, Jim. The words are merely standing-in-the-stead for intentions. They play with your mind, but they can’t harm you.
You’re sure? She’ll just write me back into another nightmare!
No, Jim. Each day is full of what-you-make-of-it. You should have taken the Goddess up on her offer.
Ah. Yes. I will.
I recommend Mister Black’s book. It convinced me that the best way to become very rich in USA is stealing the taxpayer. Stealing the slaves called taxpayers is by far in the USA the only industry left ! Keating 5. Sounds a lot like the Jackson 5.
@Gordo
Something to cheer you up
A new media site ala Huffpo
http://www.theblaze.com/
Let the media whores begin,,,,,
Pento now at Schiff 2 idiots
Clearly want the US to fall into full blown depression.
Right wing neo-Stalinists
Starve the poor.
Bring out your dead.
To think that I ever payed any attention to Schiff ……… scary
@swell
I agree with this dude, the Sun is a plasma not solid!
You see all these currence flowing over what we call the Sun’s “surface”.
Pento now at Schiffs Europacific
Fed to create massive inflation…
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/1_Michael_Pento.html
Expanding Earth Theory http://www.youtube.com/watch?v=oJfBSc6e7QQ
Mars Grows Too http://www.youtube.com/watch?v=JeUEzM7hsmY
IMF pumping the expanding SDR scheme
http://www.imf.org/external/np/speeches/2010/082810.htm
Reconsidering the International Monetary System
Panel Presentation by John Lipsky, First Deputy Managing Director, International Monetary Fund
At the Federal Reserve Bank of Kansas City’s Economic Policy Symposium “Macroeconomic Challenges: The Decade Ahead”
August 28, 2010
As Prepared for Delivery
I am honored to have this opportunity to discuss prospects for strengthening the international monetary system. The topic is both timely and important. In many ways, the generally recognized sources of the recent global financial crisis involve factors that inevitably can be viewed – at least in part – as reflecting weaknesses in the existing international system. Moreover, many of the efforts underway to prevent future crises – especially those being pursued with the sponsorship and support of the G20 Leaders Summit process – are intended to enhance the resiliency and effectiveness of the international monetary system. In this context, it is sobering to recognize that the last comprehensive broad-based discussions of international monetary reform were held nearly four decades ago.
Defining the International Monetary System
Before I go any further, it is reasonable to ask just what is being referred to as the” international monetary system”. By this, I mean the policies and official arrangements related to the balance of payments. These include exchange rates, international reserves, current payments, and capital flows. A key purpose of the system – as described in the IMF’s Articles of Agreement – is:
To facilitate the expansion and balanced growth of international trade, and to contribute thereby to the promotion and maintenance of high levels of employment and real income and to the development of the productive resources of all [IMF] members as primary objectives of economic policy.
It continues:
To promote exchange stability, to maintain orderly exchange arrangements among members, and to avoid competitive exchange depreciation.
In addition, the system is intended to facilitate the orderly adjustment to shocks.
Successes Under the Current System
As is well known to this audience, the current system can be characterized as reflecting de facto dollar dominance, while allowing discretion for countries to choose their exchange rate regimes and international reserves policies, and encompassing broad but uneven capital mobility. That the current system can be subject to justifiable criticism is straightforward. Nonetheless, following the system’s rocky reset in the 1970’s following the collapse of the original dollar exchange standard the current system has been successful in many ways.
In particular, the system has allowed countries to pursue their domestic policy objectives while underpinning an extended period of strong growth in global output and trade.At the same time, it has accommodated in the past two decades an historic emergence of a truly global system. As we know very well, that evolution has been accompanied – among other things – both by dramatic shifts in countries’ relative economic weights — reflecting the rapid growth in many emerging market economies — but also by significant systemic strains.
These strains were reflected in unprecedented payments imbalances and previously unimaginable buildups in international reserves. Of course, cross-border capital flows also reached amounts that had no equal in earlier times, often taking place in innovative formats. Many officials, international market participants and analysts have concluded that systemic strains contributed to the onset of the recent crisis. While there are good reasons for holding such views, it also is worth noting that many prominently predicted problems – including warnings of systemically destabilizing swings in major exchange rates – have not materialized. In broad terms, movements during the past few years among major market-determined currency cross-rates by and large have been supportive of reducing imbalances.
The crisis also has highlighted the adaptability of the global economic system itself. The rapid development of the G-20 Leaders Summit process as a forum for economic and financial policymaking, the rapid mobilization of increased resources for the international financial institutions (IFIs), the approval of new crisis prevention facilities at the IMF, and the metamorphosis of the Financial Stability Forum into the Financial Stability Board – with an expanded membership – have facilitated the crisis response.
Systemic Problems
Of course, the onset in 2008/2009 of the most serious global economic and financial crisis since the Great Depression represents a prima facie indication of important systemic flaws, and a broad consensus exists that the system likely will face new challenges in the post-crisis environment.
I will highlight today three interrelated problems: (i) the system lacks an automatic and orderly mechanism for resolving the buildup of real economic and financial imbalances that are indicative of systemic fragilities; (ii) the rapid and unabated accumulation of international reserves has reflected the buildup of imbalances, but also the desire of individual country authorities to self-insure against potential international market disruptions, and (iii) the large capital flows that finance the imbalances, and that have the potential to put financial markets under significant pressure.
Successfully addressing these challenges will be crucial to achieving the global public good of economic and financial stability—by ensuring the orderly rebalancing of demand growth between deficit and surplus economies that will be essential for a establishing a sustained and strong global recovery, while reducing systemic risk.
A Five-Pronged Approach to Systemic Reform
Although current multilateral reform efforts generally are not perceived in this way, in fact the IMF and its members – working with the high-level political support provided by the G-20 Leaders Summit process – are addressing the system’s weakness in a reasonably comprehensive and collaborative fashion. These efforts primarily comprise:
i. Creating a new mechanism for enhancing the coherence of macroeconomic policy among the principal economies, while promoting medium-term structural reforms. This effort encompasses policy formulation and planning, but also strengthening the effective surveillance of policy implementation.
ii. Strengthening the global financial system.
iii. Making the global financial safety net more effective as a tool of crisis prevention;
iv. Improving the IMF’s governance, such that it will be and be perceived to be legitimate and representative.
v. Looking forward towards improving the supply system for international reserve assets.
I will address briefly each of these themes.
Macroeconomic Policy Coherence and Effective Surveillance
Crisis lessons. One central lesson of the crisis has been that in the absence of any “automatic” mechanism, there is a need to enhance the coherence and consistency of macroeconomic policies among major economies. That is the goal of the Mutual Assessment Process taking place in the context of the G20 Framework for Strong, Sustainable and Balanced Growth. The IMF – together with other international institutions – is providing technical support for this Process, and the progress achieved to date is described in the MAP document prepared for the Toronto Leaders Summit in June, and that is accessible on the imf.org website. In Toronto, the G20 Leaders committed to announce a Comprehensive Action Plan under the MAP at the time of the Seoul G20 Leaders Summit in November. Work is underway to meet that goal.
But plans alone cannot improve systemic stability and growth. Another central lesson of the crisis has been that the IMF’s economic and policy surveillance needs to be more rigorous, including enhanced coverage of financial sector issues, and a better recognition of systemic risks and spillovers. Shocks can be transmitted rapidly by interconnected financial institutions pursuing complex asset and liability management strategies across markets and settling on a real-time gross basis. These interconnections can cause systemic risk to rise, and even relatively small events can have systemic ramifications.
Objectives. In principle, surveillance of the international monetary system – a responsibility assigned uniquely to the IMF – should provide concrete and analytically sound advice on achieving balanced and sustained growth in a context of global economic and financial stability, and it should facilitate effective multilateral collaboration. Moreover, it should incorporate monitoring and assessment of economic and financial interconnections, while providing insights regarding international policy spillovers.
The IMF is working actively to enhance both bilateral and multilateral surveillance. Our bilateral surveillance has been strengthened through increased attention to financial issues, including a deeper integration of financial stability assessments into regular country surveillance. Our joint work with the Financial Stability Board on a biannual Early Warning Exercise has sought to highlight key vulnerabilities for senior policymakers by examining potential risk scenarios for the global economy and by suggesting possible policy responses. We also are planning to develop several new multilateral tools on an experimental basis, including “spillover reports” analyzing the international impact of policies of systemically important countries, and cross-country reports on common themes.
Financial Sector Reform
Given the emergence in the past two decades of a historically unprecedented global capital market – and the systemic instability it exhibited in such a shocking fashion beginning in 2007 – improving the international monetary system will require a more resilient financial system. This reform agenda is underway, but too often it is viewed as an issue of regulatory reform, and even more narrowly as a project of the Basel Committee on Banking Supervision.
In fact, the financial reform agenda rests on four pillars, of which regulatory reform is only one, albeit an important one. Of course, one of the key tasks under this pillar is a redrawing of the regulatory perimeter, such that all systemically important financial institutions will be regulated adequately.
The other three pillars encompass strengthening financial supervision, developing an adequate resolution mechanism and enhancing the independent assessment of financial sectors as a whole via the joint IMF/World Bank Financial Sector Assessment Program (FSAP).
With regard to supervision, IMF analysis indicates that weakness in supervision was as responsible for the recent crisis as were regulatory flaws (not forgetting that more than anything, the principal failings were those of financial institutions and market participants). At the same time, work on national resolution mechanisms remains incomplete, while work on a coherent resolution mechanism for systemically important financial institutions operating in multiple jurisdictions is just getting underway. As for the role of FSAPs, their frequency and usefulness are being increased. Clearly, much work remains on all four pillars.
Global Financial Safety Net Overview. The existence of instruments that permit policymakers to effectively counteract large economic and financial shocks and to restrict their propagation across countries – while limiting the risks of moral hazard or other distortions — are critical today to a well-functioning international monetary system. I would argue that until the onset of this crisis, insurance-like facilities simply did not exist that potentially could fulfill a crisis prevention function in a world in which cross-border capital flows are increasingly important and increasingly take place via transactions involving marketable securities. While the need for such facilities has been perceived clearly for some time, their design and implementation remains a work in progress.
Crisis Prevention and Crisis Response. As I hope is well known to this audience, the creation last year of the IMF’s new Flexible Credit Line (FCL) represented an important milestone in enhancing the system’s crisis prevention capabilities. By creating a pre-qualified precautionary credit facility, the Fund can provide contingent funding to members with strong policies but that face possible vulnerabilities from external market volatility. The goal is to avoid the emergence of perceived risk asymmetries deriving from external developments that could create systemically destabilizing capital flight from countries or economies that in fact are following sound policies. The Fund’s membership made the application of such contingent facilities credible by agreeing to provide substantial amounts of contingent funding through the expanded New Arrangement to Borrow (NAB). While these changes allowed the Fund to be more effective than previously in limiting the damage from the global crisis, we are in the process of improving our crisis-prevention toolkit.
In particular, we are working to expand the Fund’s set of insurance-like instruments in order to respond to the heterogeneity of countries’ policies and circumstances. In addition to the FCL –that is available only to countries with strong policies — the Fund’s Executive Board is discussing the creation of a Precautionary Credit Line (PCL) that could be made available to countries with sound policies that nonetheless do not qualify for the FCL. The PCL would carry strong qualification criteria, but also streamlined ex post policy conditionality.
There also may be good justification for the creation of a short-term precautionary IMF facility. The Federal Reserve’s offer in late 2008 of swap lines to four emerging market countries helped to boost market confidence. But it may not be ideal to rely on such ad hoc offers in any future crisis, as systemic stability might be better served by a standing liquidity facility with well-understood conditionality and access rules.
Systemic crisis resolution. An enhanced framework to deal with systemic events also could contribute to a stronger global financial safety net. In this regard, a systemic crisis prevention mechanism may be worth exploring. Activated during systemic events to mitigate contagion, this instrument could proactively channel support simultaneously to a group of Fund members — rather than one-at-a-time – either through the existing FCL, the proposed FCL, or possibly through an eventual short term facility.
International Reserves
Reserves and stable stores of value. The ongoing, rapid growth in international reserves to some extent reflects the failure of the international monetary system both to resolve imbalances in an orderly and credible fashion and to provide an adequate global financial safety net. With concerns rising about sovereign balance sheets, however, there may be limits regarding how far existing reserve assets will continue to meet the needs of reserve accumulators. Of course, there is nothing stopping countries from broadening their holdings of reserves assets. An inevitable question in this context is whether there is a prospective enhanced long-term role for the Fund’s Special Drawing Right (SDR) as an international reserve asset.
Of course, there is no doubt regarding the dollar’s dominant role for years to come. Moreover, as a basket currency (like the old ECU), and not a true fiat currency (like the Euro), private demand for SDR holdings will be limited. But an evolutionary process towards increased SDR use could be feasible and worthwhile. More frequent SDR allocations would expand the pool of SDRs available for external financing. During systemic events, new SDR allocations could be considered. SDR allocations that are targeted to a subset of countries also could be considered, which would have as an advantage addressing potential moral hazard concerns but which would require an amendment of the IMF’s Articles of Agreement. Over time, governments that borrow in multiple currencies also might consider issuing SDR-denominated bonds.
Global Governance Reform
Representation and involvement. In a highly interconnected world, multilateral decision making must be representative if it is to be viewed as legitimate. The emergence of the G20 made global policy-making more inclusive then previously, but the contrast to the near-universal membership of the IMF remains striking. The Fund’s 2008 reform put in place a rebalancing of representation through periodic quota reviews, while protecting the voice of the poorest. And as global economic weight continues to evolve, the Fund’s membership has committed itself to agreeing this year a new shift in voting shares of at least 5 percent to dynamic emerging market and developing countries by shifting shares from currently over-represented to under-represented countries. At the same time that new voting shares are agreed, the overall size of the Fund’s quota pool will be determined. The latter will determine the Fund’s relative reliance on quota or borrowed resources if needed to funding lending.
Beyond voting shares and representation at the IMF’s Executive Board, a long-standing issue for the effectiveness of multilateral decision making is the need to focus senior political authorities – presumably at the ministerial level – on the process of effective policy collaboration, particularly in non-crisis times. It is during these times that coherent action, such as on international monetary and financial reform, can boost growth performance while forestalling sowing the seeds of subsequent crises. Several recommendations have been advanced to raise high level political involvement in the IMF. But the similarities between the ministerial participation in the IMF’s existing IMFC and the G20 Finance Ministers is striking, and will continue to inspire thoughts about enhancing the coherence of the governance of financial and economic policies.
Thank you very much.
A Romantic view of solar activity:
http://video.google.com/videoplay?docid=4773590301316220374#
@youri
I think the secret of a good scientist he defines limits on what he knows.
Because of the eroding job market over the last two decades in ‘real’ jobs, I think science has become filled with survivors who stretched the truth a lot to make points and look indispensable (and stay employed). Bluntly, there’s more B.S. now.
The fallout from now is the kind of dialog we have had today…
The problem with a really ‘big’ one, is that your manufacturing base gets shutdown, and then you can’t get the parts to restart. This obviously didn’t happen in 1989, wasn’t big enough…
@Mark Lytle
Very interesting and it shows that science has to have a very open mind, which it generaly hasn’t right now, to get humanity any further in understanding nature around us.
- They still donnow what gravity is?
- They donnow what is causing earths warming period which started 18,000 years ago when very inresponsible Stone Agers started driving their SUV’s?
Just kidd’n but it earth’s warming realy started 18,000 years ago.
etc … etc… etc … we know nothing yet!
@youri
The flare is not a certainty, that’s true, and the timing may be wrong, but the storms in 1859 and 1921 were significant. We wouldn’t have noticed much before that because we had no electronic infrastructure.
The only way this could be researched prior to that is look for records of the Northern lights seen as far south as Cuba and Hawaii, as in the event of 1859.
My guess is these do happen on some kind of sloppy cycle. It’s not unreasonable to think the next one could be worse because digital electronics are so prevalent and fragile.
Anyone who has built a computer knows you have to have a static strap on, when you work with this stuff. Fries easily.
We may not have to have as severe an event as the two listed to cause damage, In 1989, a mild one took out the grid in Quebec and some of the North East U.S. I remember that one well…
Must be late, I feel like the last Indian standing.
Way to predict solar flares may have arrived:
The strange case of solar flares and radioactive elements
http://scienceblog.com/37811/the-strange-case-of-solar-flares-and-radioactive-elements/
The sun speaks
On Dec 13, 2006, the sun itself provided a crucial clue, when a solar flare sent a stream of particles and radiation toward Earth. Purdue nuclear engineer Jere Jenkins, while measuring the decay rate of manganese-54, a short-lived isotope used in medical diagnostics, noticed that the rate dropped slightly during the flare, a decrease that started about a day and a half before the flare.
If this apparent relationship between flares and decay rates proves true, it could lead to a method of predicting solar flares prior to their occurrence, which could help prevent damage to satellites and electric grids, as well as save the lives of astronauts in space.
“Massive solar storm to hit Earth in 2012 with ‘force of 100m bombs’”
Let first start of with the fact that we had a the sun sunspotless for a record time most recently and no scientist explained why? Cause they most likely simply don’t know.
NASA has been talking about this Massive solar storm for years now but fails to explain were or on what theory they base these claims?
So the “general consensus among general astronomers” seems to be the same as “The general consensus about CO2″ – READ: “Only the bought and payed for corrupt IPCC”.
The big problem with science nowadays is that it is not about science but Public Relation to get your funding (btw The IPCC contains more of Public Relation buffs than scientists). In order to acomplish that you have to shout the loudest in outragious claims or other wise big sugar daddy will not hear you and give you the necessary funding. And NASA has a big problem with funding since all the money goes to the big Black Projects solely now when Obama cut almost all of NASA’s funding.
I noticed that in a site search with Google, all my comments show up but this one:
http://maxkeiser.com/2010/08/12/kr68-keiser-report-markets-finance-tier-terra/comment-page-2/#comment-150038
(With a Yahoo search, it still shows up fine.)
The process I described in that comment gets reflected by Magistrate Judge James Orenstein’s decision in In The Matter Of An Application Of The United States Of America And Order For An Order Authorizing The Release Of Historical Cell-Site Information, and his decision is criticized here:
http://volokh.com/2010/08/31/fourth-amendment-stunner-judge-rules-that-cell-site-data-protected-by-fourth-amendment-warrant-requirement/
That post’s author is a perfunctory apologist (shill) for government’s 4th Amendment encroachments. I believe Judge Orenstein got it fabulously right, and the law professor (poster) got it miserably wrong, (again).
I also believe that the Ninth Circuit got it wretchedly wrong in United States v. Pineda-Moreno:
http://circuit9.blogspot.com/2010/08/case-o-week-azela-micturition-gps.html
I’ve got this gut level feeling that GPS is manifestly more important to government, than we’ve caught on.
By the way, there’s a whole family of those websites, terradaily, solardaily,energydaily, etc. When you get to one, you can link to them all. The links for all of them are on each site….
Kinda’ cool….
Can The World Be Powered Mainly By Solar And Wind Energy?
http://www.solardaily.com/reports/Can_The_World_Be_Powered_Mainly_By_Solar_And_Wind_Energy_999.html
Walter Kohn, Ph.D., who shared the 1998 Nobel Prize in Chemistry, noted that total oil and natural gas production, which today provides about 60 percent of global energy consumption, is expected to peak about 10 to 30 years from now, followed by a rapid decline. He is with the University of California, Santa Barbara
The global photovoltaic energy production increased by a factor of about 90 and wind energy by a factor of about 10 over the last decade. He expects vigorous growth of these two effectively inexhaustible energies to continue during the next decade and beyond, thereby leading to a new era, the SOL/WIND era, in human history, in which solar and wind energy have become the earth’s dominant energy sources.
Re: 2012 Solar storms – must be the result of intergalactic warming.
Everythings is losts…
http://www.youtube.com/watch?v=lp_PIjc2ga4&feature=related
For those that want to track earth changes:
http://www.terradaily.com/
Good news source….
oh bama
http://www.youtube.com/watch?v=DU7Mcx3bK5Q
Ron Paul wants to audit the gold
http://www.youtube.com/watch?v=QCf__RNMLak
is it still there?
A little on the weird side when the life expectancy of the current generation of GPS satellites have a total life expectancy of 10 – 15 years.
thank you Maxman. http://www.youtube.com/watch?v=1tjWYEMQ70w
@Stacy. at least ask Max. let me know?
I mean I would have let Citi fail period. I mean what do we need them for are they helping the economy? NO! We are going to have a depression away we could have started the pain two years ago. The economy needs to deleverage it has 375% of GDP of private and public debt it must work off. I mean at least with the auto industry they are making stuff image that!
American taxpayers bailout Citibank so they can triple their workforce in China! We not let them fail and go out of business!
remember. stacy and max are connected. they could be preparing a pol pot list. hope they don’t waste a perfectly good ronron.
i could write the newnew testament. might need snoot and beardo to pull it off. give us a chance stacy.
Just wanted to mention something about the documentary. You have four thinkers that basically committed suicide thinking about infinity.
The thought that a thought can kill you, was fascinating when I encountered this.
Not to worry you can watch this safely. :}
If the solar storm hits with high magnitude, this NASA link shows who in the U.S. gets a collapsed grid. Joy, joy!
http://science.nasa.gov/science-news/science-at-nasa/2009/21jan_severespaceweather/
I’m supposed to be safe here in Texas, but my hometown is toast.
The solar storm will probably happen somewhere not real far from the time frame mentioned. It seems to be something like the Kondratieff wave, of variable length, but it always seems to show up.
What’s with the Twitter sign in box? It’s annoying.
Being that, on this board we are often running against the limits of human knowledge and certainty, I would like to mention an excellent BBC documentary from some years ago called ‘Dangerous Knowledge”.
http://topdocumentaryfilms.com/dangerous-knowledge/
The lead-in for the set (broken into three parts) is this:
“Beneath the surface of the world, are the rules of science. But beneath them, there is a far deeper set of rules – a matrix of pure mathematics which explains the nature of the rules of science and how it is why we can understand them in the first place. In this one-off documentary, David Malone looks at four brilliant mathematicians – Georg Cantor, Ludwig Boltzmann, Kurt Gödel and Alan Turing – whose genius has profoundly affected us, but which tragically drove them insane and eventually led to them all committing suicide.
The film begins with Georg Cantor, the great mathematician whose work proved to be the foundation for much of the 20th-century mathematics. He believed he was God’s messenger and was eventually driven insane trying to prove his theories of infinity.”
This is not a series for mathematicians, it is a beautiful expose on the pitfalls of certainty, which was actually a movement, that dominated thinking in the 19th century.
It was the thinkers whose extraordinary biographies are shown here, that not only tore down the false connection between scientific certainty and the Newtonian God of the Enlightenment, but also gave us thermodynamics, quantum theory, computers and modern angst….
Managing Director of GLD owns real gold but owns no GLD shares. Haha, did this guy ever screw up. He was on BNN the other day, its at the end of the video.
http://www.youtube.com/watch?v=SikYbAtXWyg
@Dedo – did I wake you?
Wow!,…Stacy, you’re posting at a late hour!
Yes, its the “X-files” hour on Max keiser
Well, perhaps the Luddites will get their wish if a solar storm sets us back a 100 years.
2012 the latest 1999, why 2 k?
A solar storm came at US
but what could we do?
We’d spent all our money
to reduce CO2
Good! A real danger. And one that indicates that mankind is not totally in charge of his destiny.
I don’t think predicting solar weather is that accurate yet.