No Recovery. It’s a Cover up! Recession To Worsen ­- Revolution To Follow

(GeraldCelente) – What 80 percent of economists call “Recovery” is a “Cover up”. Trillions in losses papered over with trillions of phantom dollars printed out of thin air and backed by nothing produce nothing except the mirage of recovery. The dollar’s dive and gold’s historic high is no mirage. Gold doesn’t lie.

Economic Crisis; How the Current Financial Rescue Schemes are Following the Failed Model of the Hoover Administration

Faced with the financial meltdown of the Great Depression, the Hoover administration created the Reconstruction Finance Corporation that poured taxpayers’ money into the coffers of the influential Wall Street banks in an effort to save them from bankruptcy. Like today’s Bush/Obama administrations, the Hoover administration used the “too-big-to-fail” scare tactic in order to justify the costly looting of the national treasury. All it did, however, was to simply postpone the day of reckoning: almost all of the banks failed after nearly three years of extremely costly bailouts schemes.

Video: “Worst Is Yet to Come” – Americans’ Standard of Living Permanently Changed

There’s no question the American consumer is hurting in the face of a burst housing bubble, financial market meltdown and rising unemployment.

But “the worst is yet to come,” according to Howard Davidowitz, chairman of Davidowitz & Associates, who believes American’s standard of living is undergoing a “permanent change” – and not for the better

Financial Meltdown: The TARP Dog and Pony Show

With no clear strategy, the new bank-rescue plan offers only more uncertainty

Video: Two years recession, or ten years of hell?

William Engdahl: US economy has been hollowed out over the last 15 years and the debt load is staggering

MSM: Iceland Says Coalition Government Collapses

Global financial meltdown and collapsing banks spark current crisis

Protesters clash with police behind the parliament building in Reykjavik last week.

Video: The Global Financial Crisis – Michel Chossudovsky

The Great Depression of the 21st Century with Michel Chossudovsky. Causes and consequences of the financial meltdown; The speculative onslaught; Financial fraud and the “bank bailouts”; Bankruptcy of the real economy; Impacts on employment, wages and social services; Towards a spiralling public debt; The economic crisis and its relationship to the Middle East war; The centralization of corporate power; The concentration of wealth; The globalization of poverty. What are the policy alternatives?

World faces “total” financial meltdown: Bank of Spain chief

The governor of the Bank of Spain on Sunday issued a bleak assessment of the economic crisis, warning that the world faced a “total” financial meltdown unseen since the Great Depression.

“The lack of confidence is total,” Miguel Angel Fernandez Ordonez said in an interview with Spain’s El Pais daily.

“The inter-bank (lending) market is not functioning and this is generating vicious cycles: consumers are not consuming, businessmen are not taking on workers, investors are not investing and the banks are not lending.

MSM: Iceland’s Meltdown

An economic morality play, in 10 acts

“All financial innovation involves … the creation of debt secured in greater or lesser adequacy by real assets,” wrote the economist John Kenneth Galbraith in 1993. And “all crises have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of payment.”

MSM: Down we go again – Fourth-worst drop ever for Dow

Wall Street breaks 5-day win streak as stocks plunge; Dow down 680 in 4th-worst decline

NEW YORK (AP) — The stock market suffered one of its worst days since the financial meltdown Monday, slicing 680 points off the Dow Jones industrial average as Wall Street snapped out of its daydream of a rally and once again faced the harsh reality of a recession.

Financial Meltdown: You Ain’t Seen Nothing Yet

“The problems we face today cannot be solved by the minds that created them” Albert Einstein

Obama hasn’t even been sworn in yet, and already the Wall Street cheerleaders are celebrating his first great triumph. According the pundits, the stock market staged a surprise 494 point rally on Friday because–get this–it was announced that Timothy Geithner would be appointed Obama’s Treasury Secretary.

Timothy who?

Get Ready – We Are In A Major Depression With No Plan

 To understand where we are now ~ you must first understand the reality of what we have done to ourselves. Our structured finance system house of cards has collapsed leaving behind a multi-trillion dollar capital black hole that is bringing down the broader economy ~ with no effective Plan B : Allen L Roland

Who are the Architects of Economic Collapse? Will an Obama Administration Reverse the Tide?

Most Serious Economic Crisis in Modern History

The October 2008 financial meltdown is not the result of a cyclical economic phenomenon. It is the deliberate result of US government policy instrumented through the Treasury and the US Federal Reserve Board.

Who is Behind the Financial Meltdown? Market Manipulation and the Institutional Speculator

The market is heavily manipulated. The driving force behind the meltdown is speculative trade. The system of  “private regulation” serves the interests of the speculators.

While most individual investors loose when the market falls, the institutional speculator makes money when there is a financial collapse.

In fact, triggering market collapse can be a very profitable undertaking.

MSM: Markets Sink on Latest Financial Mayhem

Wall Street returned from yet another momentous weekend with a sharply negative open as the markets reacted to Citigroup’s government-assisted takeover of Wachovia and a breakthrough agreement in Congress over the $700 billion financial rescue plan

MSM: Wall Street tumbles ahead of bailout vote

NEW YORK – Financial markets moved quickly into negative territory in early trading Monday ahead of a planned House vote on an unpopular $700 billion plan to rescue troubled financial companies and as investors examined a deal for Wachovia Corp.

MSM: Bailout failure ‘will cause US crash’

The US stock market could suffer a devastating crash with shares losing a third of their value this week if Hank Paulson’s financial bailout plan fails, US Treasury officials have warned.

Bank Borrowing From Fed Already Exceeded Bailout Total in Last Week $700 billion figure means nothing

U.S. banks borrowed $188 billion per day on average in the latest week from the Federal Reserve, meaning that the Fed loaned out more money than the Treasury’s proposed bailout in just one week, still barely managing to keep the economy afloat.

Federal Reserve data showed on Thursday the total amount banks borrowed nearly quadrupled the previous record of $47.97 billion per day notched just the week before, Reuters reports.

$188 billion per day on average over the course of five days means that the total amount borrowed from the Fed in the week ending the 24th September stood at $940 billion – a figure that easily eclipses the proposed $700 billion bailout.

Financial Meltdown: The Financial Edifice of U.S. Imperialism is in Danger of Crumbling

The events of the last ten days on Wall Street represent a new and more destabilizing phase of the turmoil gripping financial institutions and markets in the U.S. A financial crisis has been unfolding for more than a year. It is now the most serious financial crisis of U.S. capitalism since the Great Depression of the 1930s. And it is by no means contained or under control.

Video: This is a Financial Controlled Demolition – Like 9/11

Afshin Rattansi in Tehran talks to Max Keiser in Paris about the end of Wall Street, dollars and toilet paper – and Morgan Stanley and Goldman Sachs no longer being investment banks.

Paulson’s former firm to be among largest beneficiaries of bailout: bank

It certainly pays to be Treasury Secretary if your former firm is a brokerage house, a new study says.

Goldman Sachs Group — formerly run by Treasury Secretary Henry Paulson, and Morgan Stanley, stand to be among the biggest beneficiaries of a $700 billion US bailout.

Henry Paulson, American Oligarch

Back in June, I wrote: “First, they [the power elite] always take advantage of crisis to make a [power and money]grab…Taking advantage of crisis and making things complex is how the elite play. The current crisis is the mortgage crisis. They are taking advantage of the crisis to sweep up and buy into banks on the cheap, and they are sitting in a conference room with the Fed to create regulations so onerous that only the elite will be able to play.”

Treasury Secretary Henry Paulson and Goldman Sachs, this weekend, have gone overboard in proving my point.

Does Goldman Sachs Run the World? – October 7, 2007

Not completely, but it doesn’t mean they aren’t trying. It seems that, literally, only flesh eating bacteria can stop these guys.

The Canadian dollar breaks above parity and, lo and behold, last Thursday, a Goldman managing director, Mark Carney is named governor of the Bank of Canada.

Mario Draghi, governor of the Bank of Italy, is also a former Goldman managing director.

Then, of course, there is U.S. Treasury Secretary, Hank Paulson, who was Chairman and Chief Executive Officer of Goldman.

The Bailout Will Kill the Dollar

What nobody in the corporate media is mentioning amid all the blather about the $700-billion Paulson bailout proposal is the impact it will have on the US dollar.

We are told that this huge gift to the financial sector—the assumption, at top dollar, of all the bad debt they’ve piled up–will be at taxpayer expense, but that’s only the half of it. (Really only the quarter of it because since the US government is technically bankrupt already, spending more than it takes in each year, all that money will be borrowed, and will be added to the national debt, meaning that just as the real cost of the $500-billion Iraq War is closer to $2 trillion, the real cost of the $700 billion bailout will be more like $1.5-2.5 trillion.)

Deceitful Transfer Of Bank Assets To Buyer Without Recourse

‘Paulson’ Scheme Tears Up The U.S. Constitution, Legitimising Financial Fraud

It’s As Though The Organized Crime Control Act Of 1970 Doesn’t Exist

A U.S. ‘Coup D’Etat By Installments’, Like Germany In 1933

Greenspan’s $14 Trillion Reported Lie To CNBC’S Leesman On 22nd September:
US sources inform the Editor that the CNBC’s financial reporter Steve Leesman stated that Greenspan told him that on Thursday 18th September 2008, the United States ‘almost went bankrupt because there was NO CASH available’.

What Greenspan did NOT tell the CNBC’s Leesman is that Citibank currently holds $14 trillion which Greenspan, ‘Paulson’, Cheney, Bush Sr., Bush Jr., Clinton 42, Hillary Clinton, Robert Rubin and other organised crime operatives posturing as responsible holders of high office, have hijacked and systematically prevented from being mobilised for the Settlements.

Video: MSM – The Greatest Crisis Since the 14th Century

Analysts say the turmoil in the Russian markets was caused by the global financial crisis. “This is the greatest crisis in history since the 14th century, though it’s not yet realised,” said Lyndon Larouche, an economist and political activist from the US.

Video: Welcome to the Con of the Century!

We the American Taxpayer have been subjected to the biggest con job ever in this country. Here are a couple videos that will help you understand what’s going on and how we can fix this and place the burden on the people that cause the problem, not the taxpayer…

Reporter Warns Staged Financial Crisis Part Of Fascist Coup

Huffington Post writer threatened by neo-con bloggers after urging readers to remember Prescott Bush’s Fascist “Business Plot”

A reporter for the left leaning alternative news website The Huffington Post has been attacked by neo-con bloggers and phony right-wing patriots after pointing out that the current financial crisis is part of an intentional coup to transfer unprecedented power to the Executive Branch and place public funds in the hands of the global corporate elite.

Ten Reasons Why Bush’s Proposed Bailout Is Larceny

Taxpayers Foot the Bill, Bankers Keep Profits and Compensation

Armed with fearfully catastrophic predictions reminiscent of the rushed run-up to the Iraq War, the Bush White House now insists that complete collapse of the world economy is imminent if the Bush administration isn’t IMMEDIATELY given a blank check for up to $1 trillion to dole out to the ailing financial services industries and its richly paid executives.

Wall Street Gets Bailed Out by Me When I’m Getting Screwed?

Mushroom Cloud over Wall Street

“One bank to rule them all; One bank to bind them…”

21/090/08 “ICH ” — – These are dark times. While you were sleeping the cockroaches were busy about their work, rummaging through the US Constitution, and putting the finishing touches on a scheme to assert absolute power over the nation’s financial markets and the country’s economic future. Industry representative Henry Paulson has submitted legislation to congress that will finally end the pretense that Bush controls anything more than reading the lines from a 4′ by 6′ teleprompter situated just inches from his lifeless pupils. Paulson is in charge now, and the coronation is set for sometime early next week. He rose to power in a stealthily-executed Bankster’s Coup in which he, and his coterie of dodgy friends, declared martial law on the US economy while elevating himself to supreme leader.

Video: Turning The Police State Apparatus Against Dissenters – Nov. 16, 2007

Second major phase of the coordinated destruction of freedom in America targets those who refuse to go along with it

A sustained media propaganda campaign in support of the move to swing the apparatus of tyranny away from phantom Muslim terrorists and towards the American people is in full operation and may pave the way for further attacks on US soil to be blamed on dissenting Americans who speak out against the war and the rise of the domestic police state.

Over the past decade we have witnessed an extreme acceleration of the physical implementation of a framework and infrastructure ready to receive those who will not go along with a coordinated destruction of traditional American values and freedom. With 9/11 came the first opportunity of the 21st century to radically alter the mentality of America and introduce a new order of society.

The corporate media is now preparing the psyche of the American public for a second major shift. This time the effort will be to direct the understanding of the manufactured and fraudulent “war on terror”, away from “Islamofascists” and “Al Qaeda” and towards dissenting American citizens.

We Have DAYS To Stop the $700 Billion Stick-Up (and Fascist Power Grab)

Congress hopes to pass the $700 Billion bailout bill by Friday, according to an article in Bloomberg.

In case you haven’t heard, the bill would not only stick up American taxpayers for an additional $700 billion, but would literally give Paulson and the government fascist powers.

Don’t believe me?

Welcome to the final stages of the coup…

If you must break the law, do it to seize power: in all other cases observe it. ~ Julius Caesar

In 2000, the long fought for and long admired democracy of the United States of America began a slow and steady decline toward fascism – a Bush family tradition – with the installment of a president – a man the citizens overwhelmingly rejected (although the funny math told a still believed myth) – by a few corrupt judges on the US Supreme Court. That coup is now nearly complete and checkmate is all but unavoidable.

Wall Street Fascism

After several days of violent fluctuations, the world’s stock markets registered a massive increase in share prices on Thursday afternoon and on Friday, September 18 and 19, 2008. Why? As the Associated Press put it, “investors stormed back into the market, relieved that the government plans to restore calm to the financial system by rescuing banks from billions of dollars in bad debt. The Dow Jones industrials rose about 365 points, giving them a massive gain of about 775 over two days.”

Other stock markets also rose tremendously: on Friday the S&P 500 closed up more than 49 points, or about 4 percent; the Nasdaq closed up almost 75 points, or 3.4 percent.

Exactly what the government will do remains to be determined. Officials from the Treasury and the Fed and members of Congress intend to spend the weekend hammering out the details. Be afraid, be very afraid.

US dollar “backed by bananas”

Press TV interviewed Paris-based financial analyst Max Keiser on the US financial meltdown on September 20. What follows are his free-wheeling comments on the US government bailout of Wall Street and the potential consequences for America.