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Catastrophic bankers’ ramp to continue under obama
#1
An interesting article brought to my attention by Ed Jewett



CATASTROPHIC BANKERS’ RAMP TO CONTINUE UNDER OBAMA

SMALL PROBLEM: THE MARKET AND THE WORLD AREN’T BUYING IT

Sunday 15 February 2009 04:00



See new update for 23rd February: 'EU ELITE FEASTS WHILE THE WORLD CRUMBLES' below...

See new update for 20th February: 'STANFORD TOOK OVER FROM NORIEGA', below this update...


IF THE BLIND LEAD THE BLIND, BOTH SHALL FALL INTO THE DITCH (1)

• UPDATE 19TH FEBRUARY 2009:
AND LO! THEY ARE FALLING INTO THE DITCH 'AS WE SPEAK':
Specifically, on 18th February, the cost of insuring a $10 million US Treasury instrument for a five-year maturity reached $90,000. On 19th February, the cost had risen to $93,000! In a normal market, the cost should not exceed $10,000, at the most.

• SO, the more they write, the more junk the US Treasury creates, the higher the price. It's been doing this more or less constantly since Obama took office, by the way.

This data, publicised by CNBC and derived from CME 'pit' sources, tells you that the market is 100% in agreement with the assessment elaborated upon below. Confidence in US Treasury instruments is collapsing, as a consequence of the fact that not all financial market participants and observers are as mentally deficient as the corrupt technicians who are taking Barack Obama and the United States' financial economy to the cleaners.

What they thought they could get away with is a giga-TARP operation, involving circular financing which only delivers vast mountains of new garbage Treasury debt in the background: and we are talking about TRILLIONS here. We therefore CONFIRM that the disastrous course adopted by the financial sorcerers surrounding President Obama WILL lead this Adminstration, the US dollar and the US and world financial economies into a BRICK WALL, and that the deterioration of which the above-mentioned price is a potent symptom will be RAPID, taking the whole world by surprise.

When this materialises, kindly remember the following, would you? The catastrophe is specifically and EXCLUSIVELY a consequence of the determination of these Fraudulent Finance specialists to CONTINUE with their exotic, illicit financial Ponzi operations, LONG AFTER THE REST OF THE WORLD HAS SEEN RIGHT THROUGH THEIR DUPLICITY. So, fasten your seatbelts: these US idiots made their choice, hoping to cover up their complicity in the Banker's Ramp. Now they will finally discover that by wilfully refusing to 'go straight' with on-the-books financing as agreed ages ago by the Group of Seven, they will reap the whirlwind. And so, unfortunately, will the Rest of Us.

THE BLIND FOOLS HAVE BROUGHT THIS PREDICTED CATASTROPHE UPON THEMSELVES


• UPDATE, 20TH FEBRUARY 2009: STANFORD TOOK OVER FROM NORIEGA:
In extensive coverage of the Stanford scandal today, The Daily Telegraph states: 'As 'Sir' Allen's financial empire unravelled, depositors across the Caribbean and South America besieged banks that he controlled in Antigua, Venezuela, Ecuador, Colombia, Peru and Panama': which HAPPEN of course to be the primary locations of the Bush-CIA drug empire. On making further enquiries, the Editor has just been informed that quote 'Stanford took over from Noriega' unquote.

Stanford's offices in Houston are in the Galleria complex where Carlyle's offices are located.

And WHERE was Stanford 'picked up'? Uh, in Fredericksburg, Virginia, deep inside intelligence communitysville. Who would want to GO THERE when ostensibly on the run from law enforcement?

Only a high-level drug-running Central Intelligence Agency operative in trouble who needed to be debriefed in a hurry and told what steps to take to PROTECT THE AGENCY from exposure, right?

On 1st November 2008, according to Mr Wayne Madsen's service, the Spanish news agency EFE reported that Venezuelan military intelligence operatives raided Stanford International Bank in Caracas and investigated three Stanford Bank employees at the Venezuela branch believed to be US drug-running intelligence agents. The press is also reporting an extremely unfortunate photo of Stanford and Barack Obama 'in happier times'.

So you see, folks (to coin a phrase), it's not simply all about the money, it's ALL ABOUT THE CIA MONEY: THE COLOSSAL DRUG-TRAFFICKING AND FRAUDULENT FINANCE CRIMINAL PONZI NEXUS upon which the power to control the US Government USURPED by the CIA rests.

• The CIA is IN CONTROL, OUT OF CONTROL, and needs to be BROUGHT UNDER CONTROL, which is not about to happen under Leon Panetta, who 'ran the money', didn't he, under Clinton. And this, in turn, is WHY the financial sorcerers in the White House and the Treasury are risking a catastrophic collapse: because they defer NOT to the US President, but rather to the reprobate, arrogant, ruthless Intelligence Power that CONTROLS the President, and which has USURPED the Presidency given its power as the 'State within the State' (operating from the George Bush Center for Terrorism), acquired by financial corruption and its allegiance to the DVD's George Bush Sr..

• All of which brings to mind our letter to the British Ministry of Defence some months ago, in which we asked: WHAT ARE WE DOING IN AFGHANISTAN? And to which, as subsequently reported, the Editor received NO REPLY. The lack of response reflected the fact that the MOD knew that any response would be displayed on our website: so, rather than LIE TO US, they didn't respond at all.

Today, The Daily Telegraph carries an op-ed article ASKING THE SAME QUESTION. The article begins as follows: 'ALTHOUGH IT HAS YET TO COME CLEAN ON THE ISSUE, the Government believes that our commitment in Afghanistan will last for generations. Our Ambassador to Kabul blithely mentioned us being there for "30 years". BUT WHAT ARE WE THERE FOR?'

The author, Michael Burleigh, doesn't say. He thinks we are 'chasing phantoms'. WE SAY:

• NO, WE'RE NOT, SIR. WE'RE CLAIMING AND GRABBING CONTROL OF THE DRUG TRADE. That's why the idiot Brit in Kabul says we'll be there for 30 years. Because that's how long they think it's going to take to ELIMINATE THE OPPOSITION.

• By its cowardly non-response to the Editor's straightforward question (which it can rectify at any time, to 'correct' any 'misapprehensions' we may have), the Ministry of Defence has confirmed by its default, that it is a criminal enforcement organisation.

• Like the Central Intelligence Agency and the US military.

IN OTHER WORDS, the British Government SUPPORTS THE CIA, which means that it is perfectly content that this revolutionary US 'State within the State' controls the US Government, which by extension means that the British Government is a co-conspirator in the entire range of scandals.

So the 'Special Relationship' has decayed to the point at which it serves exclusively the interest of a vast, unfettered criminal enterprise which knows no bounds to its abuse of power. And treads all over the British at every possible opportunity, by the way. Indeed it treats the Brits with disdain.

In any rational environment, that would be cause enough for a comprehensive suspension of these intelligence relations until such time as the Americans get round to cleaning up their act.


• UPDATE 23RD FEBRUARY: EU ELITE FEASTS WHILE THE WORLD CRUMBLES
We are not commenting quite yet on familiar financial issues we have been asked to comment on, because (a) certain information we hold has to be held back due to ongoing geopolitical 'real-time' considerations and (b) because other information is not yet 'hard' enough to be used. So, instead, you may be interested in the following description of filthy EU pigs with their stinking snouts in the feeding trough that appeared in an article in Murdoch's Sunday Times, even, on 22nd February:

'The past few months have been an interesting time to be working in Brussels'.

'Outside, in the real world, reputable banks crumbled to dust, shares went into a nosedive, big companies became close to worthless, hundreds of thousands lost their jobs and millions feared the worst. Inside the Eurobubble, you'd hardly have known. The elite continued to go to champagne
receptions in the evenings before eating in highly-rated restaurants at taxpayers' expense'.

'They continued to flit from city to city to attend meetings; continued to fly around the world on fact-finding missions; and continued to think up ever more rules and regulations to help organise the
lives of the European Union's 500 million citizens'.

Our only further comment would be that had the Editor written this, the language would have been, as the erstwhile Carlyle employee John Major used to say, 'not inconsiderably' fruitier.


‘STRUCTURED PRODUCTS’: TOXIC INVENTION OF A MASSIVE BANKERS’ RAMP

REVALIDATING AND FALSELY REVALUING WORTHLESS ASSETS

ROOT CAUSE OF THE GLOBAL CRISIS: THE CIA FUNDS ITSELF BY FRAUD

RECENT DEVELOPMENTS: THE DUBAI THEFT • GREENSPAN’S INDICTMENT

PUFFING UP FLAWED POLICIES GUARANTEED TO FAIL

THE SOLUTION

WHY THE SOLUTION IS BEING BLOCKED, AND WHO IS BLOCKING IT

FRIGHTENED HEDGE FUND OPERATIVES MEET AT GOLDMAN SACHS

COALITION OF PARTIES BLOCKING THE REFUNDING

ANATOMY OF MBS-CDO-CDS FRAUDULENT FINANCE OPERATIONS

NSA STEALS ICR TEXT PROVING TARP WAS A SCAM TO REFUND CARLYLE, BUSH ET AL.

THE DIAGRAMS TO BE PUBLISHED WITH OUR PAPER

FAT CAT BRITISH BANKERS SO SORRY THEY LOST THEIR OWN MONEY

BARCLAYS BANK’S FALSE BALANCE SHEET

WHY WE WERE TOLD TO ‘COOL IT’ ON CRITICISING BANKERS

A COUPLE OF PERTINENT ‘PERISH THE THOUGHTS!’

SNAPSHOTS OF PONZI CRISIS FALLOUT IN BRITAIN AND EUROPE

EUROPEAN COMMISSION’S DELUSIONS ABOUT ‘ASSET RELIEF’

SWISS RE SCRAPS ITS DERIVATIVES OPERATION COMPLETELY

WORST PROSPECTS FOR BRITAIN SINCE 1931

GOVERNMENTS UNABLE TO HANDLE HUGE INSTITUTIONAL COLLAPSES

MADOFF UPDATES

OUR SUSPICION OF A STITCH-UP IS SUPPORTED BY ANOTHER SOURCE

CRUDE CIA BLACKMAIL THREAT AGAINST MI-6

IN MEMORIAM

REACTIONS TO OUR REVELATION CONCERNING MICHAEL C. COTTRELL, B.A., M.S.

THE LIBELLOUS ATTACK ON MICHAEL C. COTTRELL, B.A., M.S.

THE EDITOR’S INTERIM STATEMENT

MICHAEL C. COTTRELL’S SWORN AFFIDAVIT IN RESPONSE TO THE ATTACK

• Attack on the Editor by Heneghan following this posting:
This operative has now dispensed libel in the Editor's direction, a somewhat foolish move as it is plainly now open to the Editor to take action against him for libel in the English Court. Readers can of course judge for themselves whether an operative who loses no opportunity to excoriate Mrs Clinton yet at the same time contributes to the Hillary Clinton for President political campaign, is someone in whom trust can be placed when assessing the veracity of his so-called 'intelligence'. And by the way, the Editor is not an intelligence 'asset': 'liability' would clearly be more accurate!

We have no information to suggest that this reckless operative has seen fit to retract his earlier libels against Michael C. Cottrell, B.A., M.S., and Colonel Dana Wilcox, and likewise no overtures have been forthcoming from this fellow to retract his libels and fabrications against the Editor of this service. Presumably he assumes that he is somehow protected from the consequences of his rash behaviour. According to what we hear, we strongly doubt that this can be the case. Since we have been 'asked to comment' on Heneghan's libels against the Editor, here is our comment: they are libels, see? What he has stated concerning the Editor represents febrile fabricated gibberish.

The Editor has been asked to point out that anyone 'out there' who wants to know more about the background to these ignorant rants, and why they are doing them, should get directly in touch with Michael C. Cottrell, B.A., M.S., at his phone number 814-455 9218. Calls will only be accepted from parties who reveal their full identity. Spooks and others who hide their identities because they are scared of being exposed by us, will naturally not be inclined to make such a telephone call.

• Greenspan update: Enquiries by the Editor have CONFIRMED that that Dr Alan Greenspan WAS arrested the week before last, and we know precisely WHO performed the arrest. This being the case, it is reasonable to ask why this crook has been allowed to remain in circulation, delivering a speech, for instance, to dummies attending the Economic Club of New York on 17th February.

The answer appears to be that the 45-page indictment has NOT been withdrawn, that he HAS been arrested, and for all we know he may be walking around with an electronic tag on his right foot.

As these reports inter alia have established, there is one rule for crooks operating at the highest levels, and another for subsidiary crooks, such as the Bush laundryman 'Sir' Allen Stanford, who tried to escape from the United States on the 18th February but was frustrated when the private jet firm hired to fly him to Antigua, refused his dodgy card. The Stanford unravelfest is of course just another dimension of the spasms of violent implosions arising from the exposures of this hive of Fraudulent Finance – which has completely destabilised all governments, central banks and their advisers, who have responded with chaotic, uncoordinated, pointless, knee-jerk 'do-something' policy changes, such as reducing interest rates to close to zero, and thereby effectively deleting the financial sector from the equation: which is why Greenspoon is now 'calling for' nationalisation of all banks. Not only is he himself specifically responsible for the crisis, but central government control of banks = Communism, which places ALL assets in the hands of guess who: THE CROOKS.

Zero rates WORSEN the prospective plight of the banks, as depositors seek actively to improve returns, thus threatening the finances of the banks which were corrupted by the Bush-Greenspan derivatives Ponzi operations. We will be deconstructing some of these flailing responses later.


•INTERNATIONAL CURRENCY REVIEW, Volume 34, #2: This issue is now well advanced in our print works and will be distributed worldwide soon. As indicated previously and below, it contains three flowcharts which show how the fake 'derivatives' sector represents a gigantic BANKERS' RAMP, how the Paulson TARP operation was designed to reliquefy the likes of Carlyle, Carlyle Capital, George Bush Sr. and other familiar perpetrators, and why ALL derivatives 'products' are frauds – equipped, even, with their own esoteric language, the purpose of which is to prevent ordinary mortals from understanding how these interrelated Ponzi Scheme operations function.

But it is historically true that ALL Ponzi schemes implode sooner of later. What makes the present situation unprecedented in the history of fallen humanity is that (a) what is happening was indeed predicted here long before anyone had ever heard of Roubini, and (b) all the Ponzi operations are interlinked. Hence reports of EIGHT more Ponzi collapses pending in Europe, the panic that is now evident everywhere as it has been realised that hardly any institutions managed to avoid being caught up in the corruption, and the chaotic responses of terrified governments and officials who have not understood the central issue: THE DERIVATIVES ARE FAKE AND HENCE WORTHLESS.

International Currency Review may be ordered direct via this website. To order the forthcoming issue alone, please enter a regular order and ALSO send us an email via the CONTACT US tab to state that you specifically require International Currency Review Volume 34, #2 only. We have to charge a premium for individual issues, as we sell only serials in the normal course of business.
On this occasion, we are charging $300 for this issue, incorporating a 50% DONATION mark-up.

All such orders, as with all donations made to assist us with the financing of this research and our necessary exposures, are appreciated and acknowledged by the Editor.

• MADOFF 'VICTIMS' LIST: Two reports were posted on 6th February 2009 containing the entire list of customers of Bernard L. Madoff Securities, Inc.. Because the list is so huge, we divided it into two segments: Clients A-N; and clients O-Z, plus a Miscellaneous Section. See: Archive. Our list is the easiest to load and clearest of the lists that have been reproduced privately on the Internet.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor's study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the brave contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website.

By Christopher Story FRSA, Editor and Publisher, International Currency Review and associated intelligence publications and information services. See this site for details and ordering facility.

• CORRESPONDENCE TO THE EDITOR: We routinely, automatically DELETE all emails which OMIT any element of the requested coordinates. We are not prepared to deal with anonymous spooks and other cowards who are too scared to provide their coordinates, for identification.

• The CONTACT US facility is found in the red box throughout this combined website.

• BOOKS: Edward Harle Limited has so far published FIVE intelligence titles: The Perestroika Deception, by Anatoliy Golitsyn; Red Cocaine, by Dr Joseph D. Douglass, Jr.; The European Union Collective, by Christopher Story; The New Underworld Order, by Christopher Story; and The Red Terror in Russia, by Sergei Melgounov. All titles are permanently in stock. We sell books DIRECT.

• Please Make a Donation to help finance Christopher Story's ongoing global financial corruption investigations, which have turned the whole world upside down and have exposed the corruption which was intended to enable the geocriminalist syndicate to seize the wealth of the entire world. These people have finally been more or less completely stopped in their tracks as a consequence of these exposures. Your assistance will be sincerely appreciated and will make a real difference, hastening the OVERDUE resolution of the worst financial corruption and linked financial fallout in world history. The Editor's $35,000 Wanta bail-out money was not repaid and so has been stolen. It will be collected in due course and the thief will be appropriately dealt with, having so far taken no steps at all to repay the Editor's loan funds, which should have been remitted on 11th June 2007.

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NEW REPORT STARTS HERE:

INTRODUCTION
We can now complete the metaphor that we held in suspense following the American Presidential Election. After hovering in mid-air trying to decide whether to fall headlong into the fire or not, the CIA-controlled US Federal Government under President Obama has fallen face-first into the (Ring of) Fire, and is in the process of being consumed in the flames.

The flames are fanned by a lethally explosive incendiary device called a Banker’s Ramp.

Instead of accepting that the products of the Bankers’ Ramp – so-called derivative ‘Structured Products’ – are without instrinsic value, the fools and co-conspirators in the US Treasury and at the Federal Reserve under Bernanke thought they could con the world, as Mr Paulson tried to do, into believing that these worthless fraudulent assets could be repackaged with an insurance wrap, and thereby converted from trash status with no recourse to the underlying flow of real cash-cash, into value-laden assets of tangible value. Which is impossible. Natch, this latest marketing ploy failed even as it was being tentatively launched.

For unsurprisingly, Treasury Secretary Geithner’s revamped version of the duplicitous H. Paulson TARP scheme, the purpose of which was to refinance Carlyle, Carlyle Capital, George H. W. Bush Sr. and other notorious Fraudulent Finance parties [see below], was given an immediate thumbs-down by the financial markets on 10th February, even as Mr Geithner was speaking. Specifically, the S & P 500 closed down 4.9%, while its financial sub-index fell on the day by 11%.

The widespread decline wiped out most of the preceding week’s strong stock market gains, with JPMorganChase and Wells Fargo shares losing 9.8% and 14.2% respectively, while Bank of America and Citigroup stocks dropped by 19.3% and 15.2%.

Now this Geithner fellow is the son of Peter F. Geithner, the Director of the Asia Program at the Ford Foundation in New York. Mr Geither’s dad oversaw the Ford Foundation’s micro-finance operations in Indonesia which were being developed by Ann Dunham-Soetoro, the mother of President Barack Obama. Timothy Geithner’s maternal grandfather, whose name was Charles F. Moore, was an adviser to President Eisenhower, and was also a Vice President of Ford Motor Company. Timothy Geithner spent most of his childhood living outside the United States, first graduating from the International School in Bangkok. He also obtained a degree from Dartmouth College in Government and Asian studies, and his MA from Johns Hopkins University was in international economics.

Yet notwithstanding Geithner’s superb educational background and qualifications, the much-heralded Geithner statement, as predicted, was a complete flop. Mr Geithner had evidently not received sufficient education to be able to discern that what he was intending to propose would collapse like the remainder of a child’s balloon after it has been popped; and nor, it appears, was he in any way disposed to read the trailer for his expected flop that we published on this website on 8th February, ahead of his presentation.

According to market sources, the primary cause of the resulting uncertainty was, as one voice put it, that ‘the question of how to value banks’ toxic assets remains unanswered’.

Which was a petty silly complaint, given the fact of the matter, known to all market participants who aren’t high on speed: THEY CAN’T.

The reason that the banks’ derivatives assets haven’t been valued and cannot be valued is that THEY HAVE NO VALUE. They are figments of financial marketing sorcerers' imaginations.

The very word 'derivative' itself contains the brazen lie that the subsequent 'Structured Products' are DERIVED from the original transaction, whereas in reality the cashflow from the original deal does not 'travel', and the subsequent parties have NO RECOURSE to the hard cashflow from the original transaction, so that they are handling phantom trades divorced from the original contract.

‘STRUCTURED PRODUCTS’: TOXIC INVENTION OF A MASSIVE BANKERS’ RAMP
This reality, which has been borne in on even the dumbest dumkopf since our exposures, will be spelled out in the forthcoming issue of International Currency Review with the benefit of simple flow-charts showing how derivatives ‘assets’ are created and are fraudulently ‘marketed’ without recourse to the sole source of real money – the payments to the Mortgage Bank of the mortgagor, or the payments of the credit card holder to the card issuer. All subsequent derivative ‘Structured Products’ are fraudulent Ponzi-model scams, because they have no value given that none of the subsequent derivatives parties have recourse to the original source of funds [see below].

That derivative ‘Structured Products’ are symptomatic of a massive Bankers’ Ramp which has loaded European institutions with perhaps as much as $30 trillion of dud assets, is implied not only by the facts of the matter (explained in greater detail below), but also by the rather pertinent fact that traders on the Chicago Mercantile Exchange tell us from the pits that they regard derivatives products as completely worthless, and will not be interested in exotic new Treasury instruments ('Geithners') designed to turn sawdust into gold.

Likewise, as previously reported, the regional US Federal Reserve Banks consider derivative products to be without intrinsic value – a stance that places them at odds with Geithner’s former employer, the Federal Reserve Bank of New York, and the Federal Reserve Board under the co-conspirator Dr Ben Bernanke, both of which institutions specialise in Fraudulent Finance.

No-one, either at home or abroad, in the G-7 or the G-20, is going to be interested in any magic formula developed by the US Treasury to persuade investors that derivatives-based repackaged Ponzi-model ‘Geithners’ marketed with a US official guarantee and US Treasury imprimatur are a sound investment. It won’t fly.

For given the worldwide awakening to the truth about this Fraudulent Ponzi-model finance, the likelihood of foreigners rushing to purchase degraded US Treasury ‘Geithners’ masquerading as of intrinsic worth when the reality is that they consist of recycled toxic waste, has shrunk to nearly zero – not least given that Mr Geithner has shown himself to be even less proficient at pulling the wool over the markets’ eyes than the serial fraudster Henry M. Paulson was in his notorious day.

REVALIDATING AND FALSELY REVALUING WORTHLESS ASSETS
No, what the US Administration – now completely under the control of the Bush-Clinton criminal finance continuum – was crassly intending to do, was to revalidate the Bankers’ Ramp as though there has been no discontinuity – an extraordinarily stupid and blind course to adopt.

For the Fraudulent Finance engineers inside the Central Intelligence Agency, the Treasury and the Obama White House were hoping to ignore the much greater overall sophistication of sensitised observers since these exposures started in 2006, and to deny all that has happened during this distressing period – the blatant official corruption, the duplicity and diversionary operations, the wall-to-wall disinformation and propaganda, the endless lies and spiels about ‘filling in the holes’ when what was meant was that pyramid-selling participants were being paid off with ‘new money’ derived from other victims of the scams, the suicides, the false reports of imminent settlement recycled every week out of the gutter – and to pull a new Fraudulent Rabbit out of the Treasury’s box of magic tricks, as the US Treasury has done so often before.

But this time, the Magic Rabbit disappeared before it was even out of the hat. It was scared away by the glaring light of global scepticism and the absence of the smoke and mirrors cover to which it is accustomed. For the age of smoke and mirrors is over.

No longer can the US Treasury convince anyone in the world that has the answer to the mess for which it is responsible, on behalf of the controlling Intelligence Power (see previous report and below). And one reason that the US Treasury has lost all credibility – apart from the fact that, under Paulson, who systematically trashed the Full Faith and Credit of the United States, it became known as the Lie Factory – is that it is deliberately, under heavy pressure from the Bush Crime Family, the Clintons and associates, the Chicago FBI, and the CIA, choosing the WRONG PATH, despite the fact that it knows perfectly well what the CORRECT COURSE OF ACTION SHOULD BE.

Yes, the US Treasury knows what it SHOULD DO, but is obtusely continuing with the Bush-Paulson policy of Fraudulent Finance instead of adopting the SINGLE COURSE OF ACTION that would soon guarantee an end to the crisis. Given the extreme gravity of the situation, this represents nothing less than wilful treason against the United States and its people, and a perverse intent to pursue the worst possible course which, if not reversed, will bankrupt the whole world.

ROOT CAUSE OF THE GLOBAL CRISIS: THE CIA FUNDS ITSELF BY FRAUD
It would be comforting, perhaps, to believe that US Treasury officials are just incompetent. But the record shows that no, they seem to be malevolent: they are wilfully impeding and standing in the way of resolution of all outstanding problems over time, by obtusely insisting upon an open-ended continuation of deficit-financing operations to sustain off-balance sheet Fraudulent Ponzi-model Finance, so that the US criminal élite’s cronies can continue to generate false, unreported and so untaxed profits from their unproductive and illicit speculative activity and can continue hiding the proceeds untaxed in offshore bank accounts. And the primary reason for this madness is the factor we again identified in the preceding report:

• The Treasury’s stance is governed by the fact that it defers to the Intelligence Power which controls the US Federal Government, selects its personnel, and has usurped the power of the Executive Branch. As we have frequently pointed out, the CIA is in control, out of control and needs to be brought under control.

And guess what: they don’t like us reminding you of this fact.

• Because when we do so, we are in fact pinpointing the core of the problem facing the United States and the WHOLE WORLD, which is that the Central Intelligence Agency (proxy for the vast, corrupted US intelligence community and its drug-running operations) is a self-financing ‘State within the State’ that controls the Executive, Legislative and Judicial Branches of Government – not the other way round. The CIA is supposed to be the clandestine arm of the White House.

But thanks to its proven ability to penetrate all other branches of Government and its structures, and to finance its operations on a gargantuan scale using drug-trafficking proceeds and Ponzi schemes of ever increasing sophistication, it has usurped the US Government itself.

For it was the intelligence community that developed these Fraudulent Finance schemes in the first place. Who do you suppose provided traders with the special satellite-linked ‘grey screen’ trading equipment enabling Agency operatives based in the boonies to conduct secret Fraudulent Finance trading operations within the closed financial system that is at the root of this crisis?

The equipment is provided by the Intelligence Power. The Editor knows of one family where the successive husbands operated this equipment clandestinely without even explaining what they were doing to their family members. And this secret trading, designed to increase the illicit, hidden takings of the Intelligence Power through Fraudulent Finance, goes on all over the United States.

The Intelligence Power finances itself via Fraudulent Finance operations and is jealous of its total independence from Congress and of its power to control the Government. Key figures throughout the Administration are either intelligence operatives or puppets of the CIA.

Therefore, the Administration defers to the Intelligence Power, instead of the CIA operating from a position of subordination to the Executive Branch.

• That is the nub of the crisis facing the whole world.

It is the CIA et al. that is blocking resolution of this crisis, by ensuring that the Treasury seeks to continue the Fraudulent Finance activity, which is supposed to be funded by a vast increase (so it supposes) in official debt, with no prospect of any of it ever being amortised.

This is of course a recipe for disaster, collapse and a wheelbarrow future: and the culprit is the CIA.
It is the corrupt US Intelligence Power that pulls all the strings and is insisting upon the Treasury retaining control over ‘recovery financing’, despite the reality that the Treasury and the Federal Reserve can never achieve the objective that the CIA insists upon, because no-one in their right mind is going to buy the repackaged Treasury trash for long, if at all.

Therefore, the US and global crisis boils down to the very issue identified a long time ago by this service: the Central Intelligence Agency is jealous of its hegemony which is financed by Fraudulent Finance and fears that when its Ponzi operations cease, it will LOSE its hegemony status and will cease to be in any position to control the Government, especially the Executive Branch.

Given moreover that the Central Intelligence Agency is a criminal enterprise directed de facto by the Bush Crime Family with its Clinton add-ons (2) via the George Bush Center for Terrorism (oops, Intelligence), it may well view the threat to its hegemony by the ongoing and irreversible collapse of the derivatives fraud as a pretext for taking matters even further into its own hands, by which we mean perpetrating some atrocity or other to provide a pretext for drastic domestic repression. This may satisfy its power lust but will not, of course, solve its financial problems insofar as the collapse of the derivatives sector will leave it dependent solely on its drug-trafficking proceeds.

In this connection we need to reiterate that anonymous, unprovenanced reports by a fictitious source calling itself Sorcha Faal and purporting to be derived from the Kremlin, is actually a diversionary disinformation operation perpetrated by an Irishman, S. L. O’Huallachain and by Commander J. Forrest Sharpe, of Light in the Darkness Publications, Vienna, VA, located, as we recently pointed out, deep in US intelligence communitysville, according to our sources.

Sharpe is said to be ‘active duty submarine service fleet’, implying an Office of Naval Intelligence (ONI) link here – ONI being one of the most ruthless of all the arms of the CIA sub-Octopus, as well as ‘incidentally’ being where Admiral Blair, the new Director of National Intelligence (DNI), comes from: which probably tells you all you need to know about the agenda of such reports.

As previously noted, they begin with the phrase ‘Rumours circulating in the Kremlin today’, a tell-tale giveaway, as the Editor’s long service as Editor of Soviet Analyst entitles him to state without fear of contradiction that the Kremlin doesn’t DO rumours.

No, this is just another outlet for the destructive US domestic intelligence war and for gratuitous scaremongering, agitation and propaganda spewed out by the scared ‘State within the State’ which correctly perceives that it is in severe danger of being cut down to size as a consequence of the exposure and implosion of its Fraudulent Finance operations which sustain its usurped status as the power that controls the Federal Government, whereas it is supposed to be the subordinate clandestine arm of the Executive Branch.

RECENT DEVELOPMENTS: THE DUBAI THEFT • GREENSPAN’S INDICTMENT
With reference to the massive sum of money that was diverted to Dubai on Friday 6th February, threatening the likelihood at the time that Citibank might have been unable to open its doors on Monday 9th February, the funds were retrieved over that weekend so that, in the event, Citibank did not collapse and was able to open for business.

As we reported, that event precipitated the cancellation of the State Visit to Dubai and Abu Dhabi by The Queen and the Duke of Edinburgh previously planned for late March – an analysis that we were subsequently told was ‘absolutely accurate’.

Concerning the cuffing of the arch-criminal finance specialist Dr Alan Greenspan, there are now at least four versions concerning this operative’s arrest: (a) He was arrested on or about Monday 2nd February; (b) he was cuffed on Friday 6th February, as we reported; © he was cuffed on Thursday 5th February 2009, which we are now inclined to believe would have been more accurate than (b), because we also now think that the funds were diverted to Dubai on Thursday the 5th, or at least overnight 5th/6th February; and now (d) a warrant has been issued for Greenspan’s arrest, which (as of the morning of 12th February) remained pending.

On 12th February we learned that a 45-page indictment has been prepared against Greenspan, and this information was confirmed by a separate very reliable source.

In addition, a batch of officials at the Federal Reserve who thought they were TSTBA (‘Too Senior to Be Arrested’) were reported to us on 12th February to have been arrested in the context of their continuing sabotage of the Settlements. And on Wednesday 11th February, 18 examinations of the biggest US banks were initiated, with a team of some 100 bank examiners descending like locusts on Citibank, JPMorganChase, Bank of America and other US criminal financial enterprises looking inter alia for derivatives exposures. In this connection we have learned that there exists a circle of very high-level and influential bankers and traders whose names are not currently in the public eye, who have been systematically blocking the Settlements, while at the same time continuing their headlong derivatives Ponzi trading operations.

As for the meltdown inside the Securities and Exchange Commission (SEC), accused by Harry Markopolos before the House Financial Services Subcommittee of failing for many years to take necessary measures against Bush-Ponzi fraudster Bernard L. Madoff, the agency’s previously referenced leading enforcement officer, Linda Thomsen, was reported be resigning ‘to pursue opportunities in the private sector’. Obviously, she decided that the heat in the kitchen was excessive for her fragile constitution.

We have been further advised that certain other very well-known characters on the stage are targeted for arrest and indictment. These developments reflect the fact, stressed to us by reliable sources, that there is now a consensus that these arrogant financial sector Financial Terrorists (which is what they are) are not above the law.

Let us hope that this time round, Law Enforcement makes the arrests in front of the TV and press cameras, as we have advised in the past: that would be the single most effective step that could be taken to bring this crisis to a head so that the unavoidable, sabotaged shakeout is not fudged.

PUFFING UP FLAWED POLICIES GUARANTEED TO FAIL
Against this incredible background, the Secretary of the United States Treasury stood up before the whole world on 10th February 2009 and announced that he intends to perpetuate a gigantic fraud! His ill-considered plan was dead in the water the moment it was announced.

As a consequence, the US Treasury and the Federal Reserve have made themselves the laughing stock among those elements of the financial intelligentsia and of key official structures around the world who know precisely what should be done, and have watched with renewed astonishment at the endless capacity for these US financial sorcerers to imagine that they can continue lying and deceiving the markets, the investing public, the American people and the Rest of the World.

As for President Obama’s ‘stimulus bill’, it represents a big band-aid which would be better applied to a bandicoot, because of course it simply adds further to the debt in the background and fails to address the central issue, namely that CASH REVENUE has to materialise in order for the banks to be refloated ON THE BOOKS.

The only possible justification for this rash initiative, which narrowly passed the Senate on 13th February, would be as a short-term stop-gap measure pending the REVENUE cashflows triggered by the G-7-Approved Refunding Programme – which is what President Obama appears to have had in mind, and which his own personnel are obtusely blocking.

The banks CANNOT be refloated via the revalidation and revaluing of worthless junk through the issuance of more and more ‘background Treasury debt’ on the scale required – not least because no insurance wrapround that the Treasury and the Federal Reserve might devise can compensate for the fact that the markets have seen through the Ponzi scams and are not proposing to gobble up any US Treasury repackaged trash ‘assets’ with falsified ‘values’ anytime soon. The Treasury’s purpose all along, as under Paulson, has been to perpetuate opportunities for Fraudulent Finance so that the off-balance sheet proceeds of these Ponzi frauds can be stashed untaxed in offshore bank accounts by the self-appointed privileged ‘élite’ serving the selfish and treasonous interests of the terrified US Intelligence Power.

In fairness, it should also be stressed that the lethal derivatives Ponzi trading carousel is being sustained by the ‘powerful’ circle of top traders and bankers alluded to above, upon whom the Treasury is said to rely when it needs ‘assistance’, who consider themselves literally to be above the law, immune from arrest and prosecution, and who function inside what they consider to be a ‘protective zone’ of privilege within which ‘legitimised’ Fraudulent Finance can be practised with impunity. These people are about to discover that, contrary to that complacent assumption, the game has changed as a discontinuity has taken place which they have chosen not to recognise.

THE SOLUTION
The universal solution to the global systemic financial corruption crisis has been on the table for several years, and was specifically re-approved by the Group of Seven Financial Powers at their summit meetings in 2007 and 2008. The adjective ‘universal’ is applicable because implementation of the agreed-upon solution will, over quite a short space of time, refloat the banks by generating accruals on-the-books, revalidate the US dollar and the US dollar financial system in the process, revitalise the world trading system as a consequence, and shower the US Treasury with ongoing windfall tax accruals which will transform its finances and reverse the centuries-long one-way deficit-financing and debt accumulation route to financial collapse.

Banks will be refloated on balance-sheet very quickly because accruals arising from transparent transactions with the appropriate capital markets instruments as prescribed by the G-7 will cascade into the banks in the form of deposits, transforming the banks’ balance sheets in the process.

This solution, like all truthful and straightforward means of resolving problems, is the essence of simplicity. By contrast, the covert, surreptitious, off-balance sheet, untaxed, secretive, fraudulent derivatives ‘Structured Products’ operations based on worthless assets generating fake yields, are enveloped in a fog of extreme complexity, as will be revealed in somewhat excruciating detail in the forthcoming issue of International Currency Review [Volume 34, #2].

The universal solution to the global systemic financial corruption crisis consists of the following straightforward and wholly transparent response:

• The ongoing conduct of fully taxed on-balance sheet capital markets instrument transactions with selected institutions in the PRIVATE SECTOR (therefore wholly independently of the DEBT-BUILDING public sector), as approved by the Group of Seven Financial Powers in 2007 and 2008, using LOAN funds provided pro bono publico for this purpose at her sole discretion primarily by the British Head of State, the total value of which is $6.2 trillion.

[These funds were placed into 'lockdown' on 12th September 2008, after it had transpired that instead of being deployed for the purpose intended by the lender(s), the funds had been illegally subjected to exploitation to finance the Fraudulent Finance Ponzi-model carousel.

After these funds, plus an additional $7.8 trillion of monies owned by the Chinese parties, went into ‘lockdown’, flows of funds needed to finance the corrupt illicit trades – with the exception of the drug money flows sustaining interbank operations as identified by the Executive Director of the Vienna-based United Nations Office on Drugs and Crime (UNODC), Sr. Antonio Maria Costa, which were referenced in our report dated 8th February 2009, dried up – triggering mass redemptions, including an estimated $7.0 billion of redemptions by clients of the Bush-linked Ponzi scheme manipulator, Bernard L. Madoff, as described in earlier reports].

• Such ON-BALANCE SHEET PRIVATE SECTOR capital markets transactions will generate REVENUE which will be TAXED, yielding ongoing windfall tax accruals to the American Treasury – which, by definition, will reverse the century-old decadent US one-way deficit-financing orgy accumulating vast mountains of official debt in the background which can never be repaid, accompanied by the degradation of Treasury securities and the US dollar itself to trash status.

• Under this wholly transparent Group of Seven-Approved Capital Markets Refunding Programme, Michael C. Cottrell, B.A., M.S. is instructed to conduct the on-balance sheet transactions using the appropriate instruments through his firm Pennsylvania Investments, Inc., in accordance with the lenders’ instructions.

• In our report dated 8th February 2009, we revealed the foregoing information for the first time, in the face of the intransigent intention of the American Treasury to continue with the Ponzi-model Fraudulent Finance operations to which it and its associates, especially the relevant hedge fund operatives, have become accustomed.

The Treasury’s approach is wrong-headed and perverse, not least because it will simply pile debt upon bad debt upon very bad debt, while purveying for public consumption a FALSE PROSPECTUS based upon the lie that worthless derivatives ‘Structured Product’ ‘assets’ have value, which is not the case. In other words, the US Treasury’s sterile proposals on behalf of the hedge funds, ‘private equity’ ‘players’ and banks ‘working for’ George Bush Sr., which were dead in the water on delivery anyway, would falsely represent that trash ‘assets’ contain value, a gross deception and fraud.

• In our report dated 8th February, we further recommended that the G-7-Approved Refunding Programme outlined above should proceed anyway, as has been specifically instructed ‘per the request/affidavit dated 29th December 2008’, but through London rather than New York.

• By definition, the GOOD, TRANSPARENT, TAXED REVENUE dollars accruing from the approved Capital Markets transactions under the G-7-Approved $ Refunding Programme will very definitely displace the BAD MONEY FALSELY GENERATED by the complex, Fraudulent Finance Ponzi-model operations that the US Treasury seeks to perpetuate, for the reasons explained below.

WHY THE SOLUTION IS BEING BLOCKED, AND WHO IS BLOCKING IT
Bear in mind that the G-7-Approved Refunding Plan is, as we constantly reiterate, APPROVED by the Group of Seven Financial Powers, which are fighting for their economic survival in the face of the recalcitrance of the American criminal financiers who are holding the whole world to ransom.

As noted above, the SOLUTION has been on the global table for several years and if it had been implemented in 2006/2007, instead of being hijacked by the corrupt Paulson Treasury so that funds could be stolen and the later LOAN monies belonging to the lender(s) abused and exploited, the whole world would not now be experiencing the ‘train wreck’ that we predicted on this website on 2nd September 2006, in December 2006, and in reports published here and in our journal in June and July 2007. We predicted the ‘train wreck’ accurately because we saw then that the corrupt US Treasury had no intention of implementing the G-7-Approved Refunding Programme and that the constant barrage of ‘we’ll pay you tomorrow’ rhetoric, with its innumerable variants, represented a cynical CIA counterintelligence propaganda offensive designed to enable the organised criminal cadres inside the US official structures and their allies to continue trading derivatives, to sustain the bubble of Fraudulent Finance, and to keep the army of outraged protesters at bay indefinitely.

Quite simply, the cloth-ears at the US Treasury preferred to continue down their yellow brick road, enriching themselves and their co-conspirators in the process, under the protection of the corrupt Chicago component of the FBI and the Bush-Clinton organised crime operations – to the general satisfaction of the expanded domestic and international élite that has been so corrupted by this Fraudulent Finance ever since George H. W. Bush Sr., stole the money from Continental Illinois Trust Company in the 1980s.

FRIGHTENED HEDGE FUND OPERATIVES MEET AT GOLDMAN SACHS
Immediately following the damp-squib Geithner presentation of the US Treasury’s immediately discredited plan for open-ended Ponzi-style finance stretching out to the end of the solar system, about 20 alarmed US hedge and ‘private equity’ Ponzi-money fund operatives, meeting under the auspices of the so-called ‘Goldman Sachs Roundtable’, gathered in emergency session to thrash out their concerns that, from their perspective, things were now falling apart, since Mr Geithner’s proposals, on which some had pinned their hopes, had gone down like a wayward lead balloon. Those attending included representatives of KKR, Fortress Investment Group [FIG], Bain Capital, Perry Capital, Capital Research, Putnam, and Citadel.

People who attended told CNBC that they received an urgent invitation to go to the meeting after Geithner’s speech. Goldman Sachs, which initially denied that the meeting ever took place, later reversed its position and confirmed that the meeting, hosted by John Winkelreid and Gary Cohn, was planned well in advance. How’s that for standing on your head without anyone noticing? Some of those who attended said that they decided to attend because of the Geithner speech. According to the CNBC report, aired by Charlie Gasparino [www.cnbc.com/id/29163525]:

‘What the group concluded was that the longer the ‘plan’ takes to produce, the more difficult the situation becomes. That’s because reviving the securitization market is the key toward reviving the economy and it’s a vicious circle [sic]. The longer it takes to revive securitization, the worse the economy becomes and the securitized products held by the banks lose more value’.

The foregoing CNBC statement contains egregious falsehoods that are self-evident but which nevertheless need to be spelt out given that CNBC also appears to be inhabited by cloth-eared economic ignoramuses:

• Revival of the real economy does NOT depend upon so-called revival of the ‘securitisation market’ consisting of worthless assets. First, there can be no such ‘revival’ now that the absolute worthlessness of the ‘securitised assets’ has been exposed, taken on board across the world, and ridiculed by traders in the Chicago pits – as well as by institutional investors and others who have had their corporate and fingers burned in the financial holocaust that has already taken place.

Further, as previously reported, the regional Federal Reserve Banks do not agree with the corrupt Federal Reserve Board under Dr Ben Bernanke and his Ponzi scheme predecessor, the frequently-braceleted Dr Alan Greenspan [see below], and the Federal Reserve Bank of New York (FRBNY), that derivatives assets have any value. They have been exposed as trash, and that’s that.

• The ‘justification’ for derivatives transactions is the false argument that securitisation ‘spreads risk’. This only happens, however, in the sense that the Mortgage banks receive double or treble payments per mortgage (even quadruple payments in certain circumstances). The later remittances are discounted, but they all add up. But the purchasers of the securitised ‘Structured Products’ by definition acquire extreme risk for their money, because no party beyond the Mortgage bank has recourse to the only source of ‘real money’, which is the income stream from the borrower.

• The US economy is not ‘becoming worse’ BECAUSE ‘securitisation cannot be revived’, but rather because the sole SOLUTION to refinancing the banks, the US dollar and the world trading system has been and continues to be BLOCKED by the parties identified in this segment, including the foregoing attendees as the so-called Goldman Sachs Roundtable.

• The ‘securitised assets’ held by the banks cannot lose ‘more’ value, as they have already lost 100% of their value and it is impossible, therefore, for these non-assets to be devalued any further. As indicated below, Swiss Re, the second largest reinsurer in the world, has just scrapped its own investment bank and in the process has written down its derivatives 'assets' to their correct value:

• ZERO.

The CNBC pronouncement illustrates a stratum of gross ignorance and fatuous stupidity on the part of the CNBC correspondent, equalled only by the attitude of a BBC economics correspondent who belaboured the false point on 11th February that ‘no banker, no financial journalist, nobody if they cross their heart, could say that they foresaw this’.

Not if they weren’t reading the reports on this website, right.

And by the way, this standard technique, favoured by those who cannot see ahead, of tarring all analysts with the brush of their own blindness, ignorance and forecasting ineptitude, while familiar to this Editor who has observed this all his forecasting life, is a low trick routinely played by the blind leading the blind. Because they have fallen in the ditch, they assume that no-one could have led them away from it. It makes the mess they're in less uncomfortable.

COALITION OF PARTIES BLOCKING THE REFUNDING
Who, then, is BLOCKING the Group of Seven-Approved Refunding Programme?

Answer: the following sinister coalition:

• The primary source of opposition to the G-7-Approved Refunding programme is the Intelligence Power, a.k.a. the Central Intelligence Agency and its extensions [see below], which finances its operations with all the funny money that the Ponzi schemes that it developed specifically for that purpose, generate. The Intelligence Power in the United States controls the Government, not the other way round. As we have frequently stated, the Intelligence Power is in control, out of control and needs to be brought under control.

It is significant that no matter how many times we have reiterated this glaringly obvious truth, not a single individual with whom we remain in contact, including of course those with a CIA background, has EVER picked this point up and given it the slightest support. The reason for this may be that all these people, without exception, are perfectly content with the status quo, which is as follows:

Given its FINANCIAL INDEPENDENCE FROM CONGRESS, the Intelligence Power has USURPED THE EXECUTIVE BRANCH of the Federal Government. The CIA is supposed to be the clandestine arm of the White House, instead of which, with the National Security Council (NSC), it CONTROLS the White House, and ensures that its own personnel or agents are always positioned in the most sensitive nodes of the structures, including the top slots.

• This is not democracy: it is corrupt, anti-democratic, abusive rule by a ‘State within the State’.

This overpowerful and ruthlessly amoral American ‘State within the State’ is financed by means of the Fraudulent Finance operations exposed in these reports. The ‘State within the State’, this controlling Intelligence Power, is unwilling to give up its hegemony over the Executive Branch (as well as de facto the other branches of the Federal Government). It is therefore purposefully and short-sightedly resisting and BLOCKING the implementation of the SOLUTION outlined above.

• Moreover the Intelligence Power is indifferent to the consequent suffering of the American people and the Rest of the World. It is concerned exclusively with the threatened retention of its control hegemony. It imagines that if it just continues this obnoxious resistance, it will ‘win out’ in the end. That is a false presumption.

• On the contrary, the longer the Intelligence Power BLOCKS the SOLUTION, the greater will be the consequent damage and the greater the likelihood that, with the disintegration of the nation, and the entire world economy as a direct outcome of its obtuse behaviour, the arrogant, ruthless and opinionated US Intelligence Power will be destroyed as well.

• But not all CIA/DIA operatives are as completely blind and stupid as painted above (it is possible to be very clever and smart, and stupid and blind at the same time). Some CIA operatives know perfectly well that things must change. They should assert themselves now, for the sake of the Republic and, as The Queen put it succinctly in 2007, ‘for the sake of the whole of humanity’ – although we hold out very little hope of any such development.

• Finally, the CIA is absolutely PETRIFIED of the G-7-Approved Refunding Programme, because it is recognised in ‘circles that matter’ that in fact it MUST be implemented, cannot be side-stepped, and will indeed prevail. But its own personnel place their own wretched interests and that of the amoral Intelligence Power first. These people will have to undergo psychological re-orientation training come the Revolution, if they don’t change their stupid attitude before it’s too late.

Beyond this central factor, the coalition of operatives opposing the G-7-Approved Refunding Programme include the following:

• The US Treasury, under Geithner as under Paulson, which defers to the controlling Intelligence Power that controls the White House (although for public consumption purposes the US Treasury defers to the White House). As is the case within the CIA, not everyone inside the US Treasury is corrupt: on the contrary, it has been the case since these exposures developed, that one or more Treasury Compliance Officers have been threatened with jail sentences under the Patriot Acts for actually doing their jobs properly and resisting the corruption mandated under Henry M. Paulson.

• The Federal Reserve Bank of New York under Mr Geithner before he was translated to the US Treasury. As confirmed by the recent arrests, announced on this website, of Robert Armenta, the senior Federal Reserve Compliance Officer (who was offered a choice between 25 years in jail if he cooperated and 99 years if he chose not to divulge the names of those involved in these scams), and Christopher J. McCurdy, a senior Vice President who was arrested after he had destroyed the crucial banking codes associated with the Settlements, the New York Fed is a nest of corruption. Under Geithner it presided over frauds exposed in our reports, and it is at loggerheads with the regional Federal Reserve Banks who are unanimous, as we have previously reported, that the derivatives ‘assets’ are worthless. The FRBNY works closely with:

• The corrupt Federal Reserve Board under Dr Ben Bernanke, who has continued and elaborated upon the Fraudulent Finance operations exploiting the closed Federal Inter Bank Settlement Fund developed under his corrupt, often-arrested predecessor, Dr Alan Greenspan – the inventor of the ‘never-pay syndrome’ which, with the benefit of hindsight and closer understanding nowadays of the universality of the Ponzi model, was actually a symptom of universal Ponziness.

This ‘never-pay syndrome’, supported by that noisy barrage of duplicitous disinformation promising payment tomorrow, painting false descriptions of arrangements having been made for Trustees to be called into banks and banking codes having been altered, and so forth, elaborated by reports of banks not co-operating, answerbacks not arriving, and any other variation on the theme of why the payments were being blocked that they could think up overnight, turns out actually to have been nothing less than an integral component of Ponzi scheme methodology.

Ponzi scheme methodology operates on the principle that new money has to be found to pay off earlier investors or to pay them handsome returns with no questions asked, until the pyramid selling scheme collapses, when ALL THE MONEY IS STOLEN.

Further members of the coalition resisting the G-7-Approved Refunding Programme also include:

• The hedge fund and ‘private equity’ parties including those who attended the ‘Goldman Sachs Roundtable’ meeting, who are desperately trying to find a way to ‘fix the prices of the securitized bonds’ as Ken Griffen, the founder of Citadel, told CNBC after that meeting – despite the fact that trash ‘assets’ have no value so that any price-fixing would be fraudulent and therefore open to endless litigation in the courts.

• The corrupted banks which continue to promote and develop derivatives trading ‘opportunities’ and scams, as though there had been no discontinuity.

• FACT: Without derivative ‘Structured Products’ trading, there is no way these criminal enterprise banks, scamming hedge fund operatives and so-called ‘private equity’ Ponzi-groups can ever hope to recoup the monies for George Bush Sr. and which they themselves have lost on own account. They cannot believe ‘this has happened to them’, but it has.

• They cannot accept that there has been a decisive discontinuity, but there has.

• The Clintons, the Bush Crime Family and their compromised associates, including the former French President Chirac, and M. Levitte, the former French Ambassador to Washington, who is now President Sarkozy’s closest adviser, and a host of others including the US operatives Jan Morton Heger, Leo Wanta, George Reig, Captain Morris (ONI), Tom Heneghan (see below), and a group of bankers and leading derivatives traders who operate in the shadows and have in the past been so ‘powerful’ that the Treasury would even call upon them for ‘assistance’.

ANATOMY OF MBS-CDO-CDS FRAUDULENT FINANCE OPERATIONS
In our report dated 8th February 2009, we reported that the NSA had interfered with our production computer and had stolen three pages from our imminent analysis by Michael C. Cottrell, B.A., M.S., under the generic heading ‘The Legalisation of Financial Corruption’ in which we analyse in detail the precise steps of the Ponzi finance operations – and in which we demonstrate both that the derivatives have no value, and also that this ‘mystery’ is encased in a fog of jargon so dense that outsiders (such as the CNBC correspondent) never get to to understand what is going on.

The segment stolen from our production computer also contained the chart in which we show that the Paulson TARP operation represented a fraud designed to inject fictitious, fabricated value into worthless ‘Structured Products’ using taxpayers’ money so as to enable the speculators to ‘start over’ – with the top ‘insiders’ such as George Bush Sr., Carlyle and Carlyle Capital and James A. Baker III especially benefiting from the Government bailout operation.

Before we go any further, we need to repeat the sections that were stolen from our production and the introduction, in order to place this back into context:

NSA STEALS ICR TEXT PROVING TARP WAS A SCAM TO REFUND CARLYLE, BUSH ET AL.
On 5th February, the Editor was working with his colleague to finalise pages for the next issue of International Currency Review. This contains an analysis by Michael C. Cottrell, B.A., M.S., with 3 diagrams, entitled 'THE LEGALISATION OF FINANCIAL CORRUPTION', that carefully demonstrates and proves that the Paulson Treasury's TARP operation represented a colossal Ponzi-style fraud designed to refund Carlyle, Carlyle Capital and corrupt 'insiders' starting with George H. W. Bush Sr., James A. Baker III and other highest-level US financiers of terrorism.

All of a sudden, our screen became completely unstable under the impact of electrical pulses which can only have been directed externally. There were two attacks: on the first occasion, the relevan
"The philosophers have only interpreted the world, in various ways. The point, however, is to change it." Karl Marx

"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.

“I think it would be a good idea” Ghandi, when asked about Western Civilisation.
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