The Phoenix Project Daily Journal (Phoenix Journal)
Year 22, Day 342
July 24, 2009
Bob Chapman: Scams & Bailouts the Cause of World Depression
U.S. Dollar Resuming Decline
About two months ago our sources informed us that the U.S. government had begun sending large amounts of cash to embassies throughout the world to be exchanged for local currency. We have had a number of reports that this in fact has been the case.
Having been involved in counterintelligence and for some 50 years in economics and finance, I believe this is a precursor to problems centered around the U.S. dollar. It was just a few months ago that the USDX was 89.5. The USDX is a dollar index, and is computed by using a trade-weighted geometric average of six currencies and their weights are: the euro 57.6%; the Japanese yen 13.6%; the British pound 11.9%; the Canadian dollar 9.1%; the Swedish Korona 4.2% and the Swiss franc 3.6%. We recommended the sale of the dollar at 89.5. It recently closed at 79.5.
We believe that between now and the end of October that the USDX could fall to 71.18, its former low of 18-months ago. At that time a number of businesses outside the U.S. were refusing to take U.S. dollars and we believe that will happen again, and that is what the Treasury Department is anticipating and the reason for sending the cash to the embassies for conversion to local currencies.
Immediately following the onset of the global liquidity crisis there was a great demand for U.S. dollars for the settlement of accounts, which caused the dollar to gain in value relative to other currencies on a TEMPORARY basis. Since March of this year the trend has been decidedly lower as the other nations think upon how to change out their dollar holdings. In some cases, deals between countries are being handled in non-reserve currencies, bypassing the dollar altogether. It seems that only the banksters’ threats of what they could do have held the dollar up and afforded a semblance of “business as usual”–for now.
If you have the time, please read the entire article by Bob Chapman. If not, here is another excerpt that focuses on the Goldman Sachs “money machine”, which they admitted “could be used to manipulate the market” for unfair advantage.
… There is absolutely no question that Goldman Sachs is a criminal enterprise and that they have co-opted our government.
We believe that they have been involved in massive unlawful activity using a program that may have been given to them by the government. The program is a major front running device that capitalized in picking up trades by snipping them out in nanoseconds and opportuning the system with a program no one else has. The Street has been and is furious that the media, regulators and our duly elected are not even discussing what could be the second biggest scam and abuse of our times. The biggest is the suppression of gold and silver prices.
Worse yet, few people realize that exchanges actually pay firms to trade against order flow when they act as a “supplementary liquidity provider.” Exchanges pay firms ¼ of a penny if they provide liquidity when an order appears in the system. This is an extra incentive to front run order flows. Can you imagine that this is a policy of the NYSE, led by the pirates at Goldman Sachs?
Confirming Bob Chapman’s comments on the dollar’s vulnerability is the following article:
World Prepares to Dump the Dollar
American economists think the world can’t afford to let go of the dollar’s reserve currency status. The world is about to teach them differently.
What do China, India, Brazil, Russia, France and Germany have in common? These countries most often can’t agree on anything. But they are united in one strange—and ominous—way. They blame the United States for wrecking the global economy. And they think the dollar is the wrecking ball.
One rock-solid, foundational belief underpins almost all economic theory in America: faith in the dollar’s unassailable status as the world’s reserve currency. Foreigners hold so many dollars that they can’t afford to stop buying them, the theory goes. Therefore the dollar’s status as the world’s reserve currency is sound. But the dollar is now coming under a concentrated attack.
Angela Merkel is reported to have said America’s solution—even more cheap money—is just setting the world up for another crisis. “It is just a matter of time.” There is no question that the potential infusion of up to $23.7 trillion is JUST BUYING TIME.
The International Banking Cartel IS the New World Order
This is a good “opinion” piece for those less familiar with the relationship of banking to the (now thoroughly out in the open) New World Order. More knowledgeable readers will not benefit much by reading the entire article.
My belief in the existence of the New World Order centers around the activities, actions and writings of the members of the elite (mostly Anglo-American) inside the international banking cartel – which of course includes the Rockefeller and Rothschild families – over roughly the last century.
This cartel, through their financing of two World Wars; the revolutions of Lenin/Stalin and Hitler, among others; the creation of the IMF, World Bank and other private “central banks” like the Federal Reserve and the Bank of England; as well as their backing of international organizations like the United Nations, World Health Organization, World Trade Organization has sought to control not only the purse strings of the governments of the world, but also the policies, laws and programs that those governments and agencies implement.
U.S. Cities May Have to Be Bulldozed in Order to Survive
Dozens of U.S. cities may have entire neighbourhoods bulldozed as part of drastic “shrink to survive” proposals being considered by the Obama administration to tackle economic decline.
… Flint, sixty miles north of Detroit, was the original home of General Motors. The car giant once employed 79,000 local people but that figure has shrunk to around 8,000.
Unemployment is now approaching 20 per cent and the total population has almost halved to 110,000.
Unemployment is 20%–of a population half what it once was. There has been a literal DECIMATION of the workforce from almost 80,000 to around 8,000. People move away and houses are left empty, unable to be sold at “market” prices. So, the solution is to BULLDOZE them? Even while there are HOMELESS people? Bulldozing homes will benefit the supply-demand curve, propping up the prices of other houses. But is this really the BEST solution? Only for the banksters and those invested in the system as it is.
Notices of Default Second-Highest; Foreclosures Up
Foreclosure Tsunami to Continue
Notice of default data was released for the second quarter and it was the second highest quarter on record … Although notice of defaults decreased from the first quarter, they are still sky high. However, foreclosures did increase. Keep in mind there is some serious funny business going on since some banks don’t even bother to start the notice of default process for half a year. We’ve had many comments posted on this site of people sitting in their home, missed payments and all, and have yet to hear from their lender …
The banks are holding on to their foreclosable properties, not because they believe the value of these assets is going to increase anytime soon but because to foreclose would force downward re-evaluation of the assets–which would remove LIQUIDITY from the banking system. Based on the following example, however, the foreclosure tsunami is going to carry on for some time and the eventual markdowns are going to be severe.
Asking $679,000 ($96,000 less than existing mortgages)
2 bed, 2 bath home. Rebuild or remodel. Sold as is. Great area. Foreclosure sale pending August 9, 2009. Owners seeking loan modification. Possible short sale pending lenders approval. No showings at this time.
$775,000 home with nothing down, 1134 square feet, listed for $679,000—what, no takers? As the article points out, even with $120,000 income and a full 10% down payment, $4569 PITI equals 64% of net income. Houses like this have a long way to go on the downside. BUT THE BANK HOLDS THIS PROPERTY ON ITS BOOKS TODAY AT $775,000.
DoctorHousingBubble has afforded us a great perspective on the California housing market. Here is some anecdotal evidence of housing in the SOutheast of the country:
The Orlando Sentinel reports from Florida. “Central Florida’s flood of foreclosures is swamping one of the area’s fastest-growing minority groups. That’s because Hispanic homebuyers, as the nationwide housing bubble expanded and then deflated earlier this decade, wound up with a disproportionate number of the high-risk, high-interest loans known as subprime mortgages. ‘It was cultural greed. … They were overselling the American dream,’ said Orlando mortgage lender José Hoyos, an expert witness in foreclosure cases. Lenders were telling prospects, ‘You’re Hispanic — you deserve the best. You deserve that house in Windermere. You are a janitor? Oh, no, no, no — you own a janitorial business. No, you don’t have to put any money down.’”
The Herald Tribune in Florida. “A year-long Herald-Tribune investigation into thousands of suspicious Florida flip deals found that lenders of all kinds approved risky deals and ignored obvious red flags for mortgage fraud. Using public records and Internet searches, the Herald-Tribune identified hundreds of deals that exhibited classic red flags for fraud. They include sales between family members and business partners in which prices increased $100,000 or more overnight. In other cases, flippers repeatedly traded properties from their company to their own name, each time increasing the price and the amount they borrowed.”
The News Journal in Florida. “Nationally, at the current sales pace, there’s about a 40-month supply of homes on the market for $750,000 or more, according to the National Association of Realtors. That’s more than double the stock in mid-2007. ‘Obviously, the smaller homes are selling more,’ said Rachel McGrath, a Realtor in the Port Orange office of high-end broker Stirling Sotheby’s International Realty. ‘There is some resistance in the $500,000 and above market.’”
Although the “bad apples” may have been in California, Nevada and Florida, the effects are spreading across the nation. Although the Federal Reserve has managed to shore up its reserves with a check for $23.7 trillion from Congress, even that amount will not be sufficient to maintain liquidity once these assets have their values marked down to true market levels.
Mish: Bank of Canada Says Recession Over
But It Will Be ‘Double Dip’ or L-Shaped
Unwarranted Joy In Canada
The recession may technically be over soon in both Canada and the U.S. but it will not feel like it to most, nor will Canada see those projected rates of growth.
Expect to see downward revisions to expected growth because they are coming. Weak energy demand is one of the clues that the rebound will be less than most anticipate.
Nearly everyone is overestimating the rebound in jobs and consumer spending while ignoring or discounting the likelihood of a double dip recession, not just in the U.S., but globally. Odds still favor a harsh double dip recession, or a lingering L-shaped recession [emphasis added] sapped by higher taxes and weak consumer demand, where the economy flirts with recession for years to come.
Banks Fail to Make Adequate Loan-Loss Provisions
U.S. banks may incur about $470 billion of losses and writedowns by the end of 2010, which may cause the banks to be unprofitable in the period, the ratings company said in a report published today.
… Banks and financial firms worldwide have reported losses and writedowns of $1.5 trillion since the credit crisis began in 2007
… Any economic recovery is likely to be “weak and bumpy hook-shaped“ [emphasis added] …
Again, it must be emphasized that all the banksters have managed to accomplish by blowing $23.7 trillion more into the balloon is to buy a little more time before the inevitable collapse.
THE SECOND AMERICAN REVOLUTION
This is a scholarly piece written by a member of the private club known as the BAR (BRITISH ACCREDITED REGENCY) Association. Even though he leaves us to wonder if he is aware of whom he serves, Mr. Baldwin does make some very good points especially with regard to the TRUE SOVEREIGN:
… [T]he issue is not who is Sovereign, because we know that We the People are sovereign in the U.S. and that the Sovereigns of each State have never ceded to the Federal government any power not expressly granted to it by the Compact (the U.S. Constitution). But rather, the issue is one of JURISDICTION: in other words, who has the power to act on behalf of and in compliance with the Sovereign? The issue of jurisdiction is so important because it acknowledges that since the Sovereign has “paramount authority” in government, any powers that are granted from the Sovereign to government are to remain within that grant of authority. Put another way, the States can no more grant authority to the Federal government against the will of the Sovereign–the people–than the Executive branch of the Federal government can give to the Judiciary branch the powers that we the people granted to it alone. To deny that such a grant exists or conversely to ignore the limitations placed on the governments by the Sovereign is to suggest that tyranny is a lawful act and that it must be complied with. America’s founders would have considered such a political theory to be treasonous. Do we the people think so seriously of the matter? According to recent events, the answer to this question will likely be answered sooner than later.
IF you have time, the entire article is worthy of your attention. The system arising from the ashes MUST be predicated upon the sovereignty of the individual because nothing can be more supreme than INDIVIDUAL CONSCIENCE, which is the very spark of God in man, the essence of HUman (Higher Universal man), whose destiny is in the Cosmos.
Take the Red Pill, Mr. President
“If there’s a blue pill and a red pill, and the blue pill is half the price of the red pill and works just as well, why not pay half price for the thing that’s going to make you well?” — President Obama
In last night’s press conference, President Obama seemed to be reliving that famous scene from The Matrix. The main character is offered a choice between a red pill that makes him see reality for what it is, and a blue pill that allows him to continue living in a pleasant world of illusions.
Morpheus to Neo: Blue Pill or Red Pill?
“You take the BLUE pill, the story ends, you wake up in bed and believe whatever you want to believe. You take the RED pill, you stay in Wonderland—and I show you how deep the rabbit-hole goes.”
A LOT of people have been finding out how deep the rabbit-hole goes–and it only takes ONE to effect the great change. So, as we act together in ONEness, unified in purpose by the TRUTH, the adversary’s plans CANNOT prosper with Go-odness on our side.
The “Cold War” — $5 Trillion Illuminati Boondoggle
The drawback of denying mankind is in the grip of a Satanic cult is that the Illuminati will continue to degrade, slaughter and bankrupt humanity until it is sucked dry.
Because they got away with the First and Second World Wars, we had the “Cold War.” Because they got away with that, we had 9-11, the credit crunch and swine flu. If we don’t stop them, what will they do next?
Too many cold and hot warriors were deprived of life–and limbs. The beastly, parasitic adversary cannot withstand exposure and that is happening at an unprecedented rate as we move into this period of 2,000 years of light for mankind.
See how simple tools like the video camera, YouTube and blog sites have become highly threatening weapons against the “21st Century Traitors”. The partial transcript that follows is NOT an example of correct behavior but it does serve to show the mood of the People as they awaken to what has been done to them.
[Lieberman aide:] “Senator Lieberman’s office.”
[HiJackedNation:] “Hi, there, how are you today?”
[Lieberman aide:] “Good. How are you?”
[HiJackedNation:] “Well, wonderful. I’m a big YouTube user and I’d like to know where your boss gets off trying to use—uh, you know, shut everything down on YouTube. What’s his point here?”
[Lieberman aide:] “A lot of that is to do with the War on Terrorism, sir.”
[HiJackedNation:] “I’m a 20-year veteran of the United States Air Force, fighter pilot. I don’t appreciate being called a terrorist by some son of a bitch!”
[Lieberman aide:] “Sir, I don’t think he’s referring to you …”
[HiJackedNation:] “Oh, yeah, I think he is. So, I think you better do your homework, because your boss is out of line.”
[Lieberman aide:] “Ok.”
[HiJackedNation:] “And you know what? He’s going to lose his job. And I’m going to see him behind bars, so he’d better be careful.”
[Lieberman aide:] “Ok, may I ask where you’re calling from, sir?”
[HiJackedNation:] “No, you may not, actually. I know where you’re at, though. I’ll tell you what: When he starts calling American people terrorists, he’s going to have some issues, man. Because there’s some boys on motorcycles that don’t appreciate that kind of stuff. Do you understand me? Well, pass the word to your frickin’ boss. And tell him to return to his home country, because he’s in the wrong one. Bye.”
We All Shine On In New Proof Of Bioluminescence:
Photos of the Life Energy
… the human body directly and rhythmically emits light.
… the amount of light emitted by our bodies doesn’t correspond to the amount of heat given off, and thermal imaging provides entirely different visual results than the hyper-light-sensitive cameras.
It seems what we are witnessing in these photographs is the ANIMATING ENERGY of the human body. We KNOW all is LIGHT and here is evidence we can appreciate with our SENSES to confirm that fact.
A system that can deliver power to devices without the need for wires has been shown off at a hi-tech conference. The technique exploits simple physics and can be used to charge a range of electronic devices. Eric Giler, chief executive of U.S. firm Witricity, showed mobile phones and televisions charging wirelessly at the TED Global conference in Oxford. He said the system could replace the miles of expensive power cables and billions of disposable batteries.
There is a video clip included at the linked article but we liked this one better:
Clinton Vows ‘Crippling Action’ if Iran Becomes Nuclear
Clinton warned Iran that “once they have a nuclear weapon” they won’t actually be any safer, because the U.S. intends to take “crippling action” against them, including dramatically improviding the military capacity of U.S. allies in the Gulf, presumably referring to Israel and Saudi Arabia.
Carrying on in the true Neocon tradition of preemptive war, we see that the banksters continue to see WAR (or pandemic, or variations of ordo ab chao) as their ONLY WAY OUT. It is serious time but we believe the “white hats” in the military and intelligence circles globally shall prevail. Still, it pays to be aware of the potential.
Rethinking Iran (STRATFOR Insights)
Russia, Ahmadinejad and Iran Reconsidered
For the past few years, STRATFOR has assumed that a U.S. or Israeli strike on Iran was unlikely. Iran was not as advanced in its nuclear program as some claimed, and the complexities of any attack were greater than assumed. The threat of an attack was thus a U.S. bargaining chip, much as Iran’s nuclear program itself was an Iranian bargaining chip for use in achieving Tehran’s objectives in Iraq and the wider region. To this point, our net assessment has been accurate.
At this point, however, we need to stop and reconsider. If Iran and Russia begin serious cooperation, Washington’s existing dilemma with Iran’s nuclear ambitions and its ongoing standoff with the Russians would fuse to become a single, integrated problem. This is something the United States would find difficult to manage. Washington’s primary goal would become preventing this from happening.
$200 Billion ‘Deal of the Century’ between China & Iran
At this point it is necessary to point out that standing behind Iran and looking over its shoulders at the British-Israeli-U.S. intimidators are Russia and China. In the June 14, 2006 issue of CONTACT we carried the following citation regarding the “Deal of the Century” between Iran and China:
“In November 2004, a mega-gas deal between Beijing and Tehran worth $100 billion was finalized. Billed as the ‘deal of the century’ by various analysts, this agreement is likely to increase by another $50 to $100 billion, bringing the total close to $200 billion, when a similar oil agreement, currently being negotiated, is completed.”
It would be the height of insanity to generate open warfare between U.S. forces and those of Russia and China, rushing to the aid of Iran. Recent U.S. meddling in Xinjiang Province, along with Georgia, Pakistan and numerous other hotspots, shows the Neocons are still very, very dangerous.
FBI TAKES DOWN ORGAN TRAFFICKERS
Obama Forces Smash Israeli Spy Ring Responsible For 9/11, Massive Theft
FSB reports circulating in the Kremlin today are reporting that forces loyal to President Barack Obama have begun their long awaited crackdown on the vast Israeli spy network operating in the United States that American Intelligence Officials have long blamed for the financing of the September 11, 2001 attacks upon their country and the massive theft of over $18 Trillion, and which we had previously reported on.
According to these reports, and which have been confirmed by Western news sources, U.S. Federal Police Forces have arrested the leader of this vast Israeli spy ring who they have identified as Rabbi Saul J. Kassin, and who is the 87-year-old leader of the Sephardic Jewish community in the United States.
Whether or not “Sorcha Faal” is correct in declaring that this is the start of a “long awaited crackdown on the vast Israeli spy network” in the U.S., the sheer number of news headlines relating to this subject today suggest something is changing in a major way.
Here is a sampling of the links relating to this subject today, all taken from ONE news aggregation site, WhatReallyHappened:
- Authorities arrest 44 in N.J. corruption case
- FLASHBACK – Israeli doctors experimented on children
- FLASHBACK – Moldova’s desperate organ donors
- ‘I Am What You Call a Matchmaker’
- FLASHBACK – Presumed guilty
- List Of Names / PICS NJ Corruption Probe
- FLASHBACK – Israeli organ traffickers shift operations to China
- Organ Trafficking: A Fast-Expanding Black Market
- FLASHBACK – New York doctor charged with maiming mental patients at for-profit facilities
- FLASHBACK – ISRAEL: Still a destination for human trafficking
- Romania: Israeli doctors questioned in human eggs trafficking case
- Mayors, rabbis arrested in corruption probe
- Top NJ rabbis and government leaders arrested in black market organ scandal
- Israel Kills Palestinian Boys, Steals Organs For Transplants
- The organ of last resort
- Israel Kills, Steals Organs of Palestinian Children
- America’s “disappeared”: The homeless of the big cities
- NJ official steps down amid corruption arrests
- Israelis deep into organ trafficking
- Is Israel harvesting organs of Palestinian youths?
- ISRAEL NOW HARVESTING PALESTINIAN BODY ORGANS
- Two Haifa men sentenced to jail for organ trafficking
- Dozens Arrested in New Jersey Corruption Probe
- US rabbis arrested in crime probe
- Mayors, rabbis arrested in corruption probe
- N.J. politicians, rabbis arrested in federal money laundering sweep
- Comments on Rabbis, Politicians Snared in FBI Sting
Dare we conjecture that where there is this much “aroma”, there must be a pony in here somewhere?
