If

THE INTERNATIONAL FORECASTER
SATURDAY - JULY 11, 2009

071109(3)_IF
P. O. Box 510518, Punta Gorda, FL 33951-0518
An international financial, economic, political and social commentary.
Published and Edited by: Bob Chapman

NOTE: NEW E-MAIL ADDRESSES
For correspondence to Bob: bob@intforecaster.com
For subscription and renewal: info@intforecaster.com
CHECK OUT OUR WEBSITE

www.theinternationalforecaster.com
1-YEAR $159.95 U.S. Funds
US AND CANADIAN SUBSCRIBERS: Make check payable to Robert Chapman (NOT International Forecaster), and
mail to P.O. Box 510518, Punta Gorda, FL 33951-0518. Please include name, address, telephone number and e-
mail address.
Or:
We accept Visa and MasterCard charges. Provide us with your card number and expiration date. We will charge
your card US$159.95 for a one-year subscription.
You can email us in two separate emails (1- the Credit Card Number with full name, address and your
telephone number and (2- the Expiration date on the card.
NON US OR CANADIANS SUBSCRIBERS:

Due to the time that it takes for your mail to arrive to us from a foreign country, we would like for you to email us
as above the CC information in two separate emails.
Note: We publish twice a month by surface mail or twice a week by E-mail. bob@intforecaster.com
or info@intforecaster.com
NOTICE – NOTICE – NOTICE
There will NOT be an issue of the FORECASTER on
SATURDAY, July 25, 2009
RADIO APPEARANCES:
To check out all of our radio appearances click on this link below:
http://www.theinternationalforecaster.com/radio
Discount Gold & Silver Trading Co.

For the best in pricing and service for gold and silver coins, call Melody at 1-800-375-
4188. Be sure to listen to DGSTC with Bob Chapman live on Short-wave 7.415Mhz M-F
4:00PM ET, Replays Tuesday thru Friday 8pm RT 7.465Mhz
3.215 MHz M-F 11PM ET and weekly archives at discountgoldandsilvertrading.net
JOHN STADTMILLER – Republic Broadcasting Network www.republicbroadcasting.org – every Tues. at
5:00-7:00 pm EST
GOLDSEEK RADIO – Every Thursday
SAM BUSHMAN - LRT Radio http://www.libertyroundtable.com
Every first and third Monday of the month 10 am to 11 am
DALE WILLIAMS - Free West Radio Program – http://www.freewestradio.com - Every first Tuesday of
Month
JOHN BRYANT– 7 p.m. EDT - network www.firstamendmentradio.com
Dr. STAN MONTEITH - Every Monday 4 p.m. & 8 p.m. PST. www.radioliberty.com, or to our shortwave
broadcasts on WHRI at 5.745 MH weekdays from 3-5 pm and 8-10 pm Pacific Time 5070 and 7465.
Shortwave: Daily M-F 3:00 - 4:00 PM: PST 5.070 Mhz 4:00 - 5:00 PM: PST 7.465 Mhz 8:00 - 9:00 PM: PST
5.875 & 6.110 Mhz
THE MERIA HELLER SHOW –every 2nd Tuesday of the month –
THE POWER HOUR– GCN.live.com – Every Monday Mon thru Fri 8 to 11 am EST, 7490
PAT GORMAN – Sunday July 12. 20009
1
Stephen Lendman – July 15, 2009
ALEX JONES - GCN.live.com -Noon on shortwave 1st hour: WWCR 9.985 and 2nd & 3rd Hour:
Every Friday – noon CST. WWCR 9975 - Here are some of the recent Alex Jones shows that Bob has
appeared on. Mon thru Fri Noon to 4 pm EST, 12160
http://www.youtube.com/watch?v=JIQ1Qrv_AUE
RAYELAN ALLAN – July 15, 2009
BUTCH PAUGH – Thursday, July 16th, 2009 9 p.m. EST - Also on your computer on www.gcnlive.com
<http://www.gcnlive.com/> . LIVE FM STATIONS 9:00 PM EST.-88.3 FM ROTX Campbell, TX- 92.7 FM
Lexingon TN-102.9 FM in Lutz, FL-89.7 FM Nettie, WV-89.7 FM North Branch, MN-91.9 FM Kerrville, TX-
97.5 FM Dallas, TX-91.1 FM Austin, TX-97.5-91.1 FM Austin, TX-91.7 FM Fredericksburg, TX-91.7 FM
Johnson City, TX-90.1 FM Round Rock, TX-90.1 FM Austin, TX-96.3 FM Austin, TX-95.7 FM Dallas, TX-
93.3 FM Valparaiso, IN-90.7 & 88.5 FM Cosby, TN-88.3 FM Meadsville, PA-100.3 FM Kamia, ID-89.7 FM
Presque Isle ME-97.7 FM Greenville, SC-107.1 FM Oklahoma City, OK-90.1 FM Gatlinburg, TN-102.7 FM
Tampa, FL-KGGM 93.5 FM Delhi, LA LIVE AM STATIONS 9:00 EST.-WIJD 1270 AM Mobile, AL, KIOU
1480 AM Shreveport, LA,WFAM 1050 AM Augusta, GA-WELP 1360 AM Greenville, SC-WCPC 940 AM
Tupelo, MS-WROL 1340 Providence, RI-WITK 1550 AM in Scranton/Wilkesboro, PA-WNNY 1090 AM
Pensacola, FL-WARL 1320 AM Attleboro, MA-1380 WLRM AM Chattanooga, TN-WYYC 1250 AM York, PA-
WNVY 1070 AM Pensacola, FL-KGEZ 1600 AM Kalispell, MT REBROADCAST FM STATIONS- 91.9 FM
Macon, GA 7:00 AM-91.9 FM Freedom radio Jones City, GA 8:00 AM Est. REBROADCAST AM
STATIONS-KCKN AM 1020 Roswell, NM 10 PM Est.-KMET 1490 AM 11 AM Pst. - WASB 1590 AM
Brockport, NY 5-6 PM Est.- WRSB 1310 AM Canandaigua, NY 5-6 PM Est.-WBCR 1470 AM in Alcoa, TN 7-
8 AM Est.-WVOG 600 AM New Orleans, LA 5:00 PM Est.
ALAN STANG: radio show, The Sting of Stang, airs from 11 a.m. to 1 p.m. Central, M-F, via Republic
Broadcasting Network. Call him on the air at (800) 313-9443. To listen, go to republicbroadcasting.org and
click on Listen Live. If you can't listen at that time, do so via the archives. I'll be talking about the various
manifestations of the conspiracy for world government, its tactics, such as the illegal alien invasion, its
purposes and its players, from Jorge W. Boosh on down.]
ERSKINE: Thursday, - every 3rd Thursday – 2:00 pm CST GCN.live.com
Drew Raines: - Every Thursday
Those of you interested in the latest input concerning the world financial interest and what to do
during these times of financial unrest .
TODAY AND EVERY THRUSDAY we have for your pleasure Mr. Bob Chapman founder/editor of
"The International Forecaster" http://www.theinternationalforecaster.com
4pm-5pm Chicago time zone USA
listen live www.amd.elequity.com
"Clilck on "Current Show / Listen Live" this show is accessible as current show for 20 hours after
production and on demand from the archive direct link and as "Archives & on Demand" any
Thursday date is Mr. Bob Chapman's show.
*** all shows are FREE to access & download ***
2nd Hour Colorado, Al and Drew discuss the perspective of News & Events around the world and
the attacks on our Constitutional Rights to live in Liberty growing our Organic Foods and Herbs
for our safety & our health also available on 11 international phone bridges around the world
USA: 347-308-8047 -bridge code 48334.
Drew can be reached at 501-565-1833.
http://www.youtube.com/watch?v=hesYUFCe2_U
GNC-LIVE FREQUENCIES:
http://www.gcnlive.com/Schedule_Shortwave.html
KEVIN GALLAGHER & John McGowan – Every first Friday at 9 pm EST.
Bruce McDonald - The Politics of Common Sense: 6-8 p.m. CST
bruce@kickthemallout.com
Rob Johnson – on Pappas Telecommunications’ -840 KMPH. Stockton/Modesto, CA
–
July 14th and July 30th.
Lets Get Real With Reuben Torres " is an open forum where topics on politics,
immigration, health, education, and other global issues, that affect our country and the
world at large, are discussed and debated at local, national, and global levels. "Lets Get
Real With Reuben Torres "airs every Tuesday evening from 9:00 pm to 10:00 pm unless
otherwise noted. - Next appearance: July 14th.
2
Farren Shoaf –June 9th, 2009–The Real News Radio
http://www.blogtalkradio.com/derekdreamer/2009/07/15/interview-wbob-chapman
Bob Chapman (frequent guest on the Alex Jones Show) will be back on to tackle current
events. July 15, 2009
.
*****
Kevin Gallagher – time Out Productions:
<http://www.youtube.com/watch?v=trbfxyVJ1iY&feature=channel_page>
Radio Liberty part 1 <http://www.youtube.com/watch?v=lZRH2CtEu2k>

RBN Part 1 <http://www.youtube.com/watch?v=iZ-aBsFdJpY>
http://www.youtube.com/user/TheBobChapmanChannel
http://www.youtube.com/watch?v=cYjLAgKfLrM
For a Few Bailout's More

http://www.youtube.com/watch?v=qq8-HydyftA&feature=channel_page
Billions more needed for financial rescue

http://www.youtube.com/watch?v=3lLkq7P2BXM&feature=channel_page
http://www.clipser.com/profile.php?member=TheBobChapmanChannel
Our show with; Stephen Lendman - Easy to download the program.

Go to Republic Broadcasting.org, then archives, then login -
User ID - stephen lendman
Password - 817sl
http://www.youtube.com/profile?user=Kgallagher01&view=videos&query=chapman
*****
The link to the Political Pistachio Radio Revolution episode you appeared on is:
http://www.blogtalkradio.com/politicalpistachio/2009/06/28/Political-Pistachio-Radio-
Revolution
Thank you,
Douglas V. Gibbs
www.blogtalkradio.com/politicalpistachio, Host, Producer
www.politicalpistachio.com, Founder
www.americandailyreview.com, Co-Founder, Senior Writer
*****
SCHEDULED ISSUES
Wednesday, July15, 20009
Saturday, July 18, 2009
Wednesday, July 29th, 2009
3
US MARKETS
The latest Treasury auction of $19 billion of 10-year notes was at a yield of
3.365%. The bid to cover was 3.28 to 1, the highest ever. This was the third of four
sales this week totaling $73 billion.
Consumer credit fell $3.23 billion in May, as credit fell 1.5% to $2.5196 trillion
from $2.522 trillion in April. Four monthly declines matches June-December of 1991.
Big loans fell $400 million, or 0.3%. Revolving credit fell $2.9 billion, or at a 3.7% rate.
We are now al most six months into the depression approaching a 1932
scenario. America is now the world’s biggest debtor. The US has had a fiat currency
for 38 years and major trade deficits for more than 30 years. Is it any wonder we are in
depression? Is it any wonder the dollar is under pressure even though our government
supports it at every turn in the market?
The world is looking aghast at the dollar as the Treasury runs short of money to
fund its deficit beyond revenues of $1 to $3 trillion and as the Fed monetizes trillions of
dollars. What would you think if you had 64.5% of your foreign exchange in US
dollars? That is almost $1.8 trillion. Some of these buyers have ceased buying and if
that continues interest rates will head higher and the cost of carrying such debt will
increase. As a result the dollar, of course, would move lower.
Higher yields on 10-year T-bills translate into higher mortgage rates as real
estate inventory continues to grow, a terrible formula for the economy.
We estimate fiscal 2009 to have a deficit of more than $2 trillion and incoming
revenues will only make up less than half of that. In spite of the protestations of our
Treasury Secretary Tim Geithner that the deficit will be reduced, our president
guarantees $1 trillion annual deficits as far as the eye can see. Cuts will never come
and the dollar will fall because that is the way the elitists want it to be. Only from the
ashes of economic and financial collapse can the new world order rise.
Our government says one thing and does another. They want to maintain
confidence and trust, but at the same time proceed with the destruction of the
monetary and financial system.
We are told that next month the monetization will end, when in fact the Fed will
not have completed its $3 trillion monetization of Treasuries and Agencies and bank
toxic garbage.
Europeans, the Japanese and the British all want their currencies lower in
value versus the dollar, believing that a cheaper currency is somehow a magic elixir for
trade and, of course, that isn’t always the case. In fact, the latest efforts to subdue the
euro haven’t been very successful. The dollar has been incapable of breaking up and
out of 81 on the USDX. At the same time, for now the euro has retreated from $1.42 to
just above $1.38, but it won’t last. Simply, the US is in worse trouble than the
eurozone.
The latest madness to come out of CNBC/Wall Street and Washington is
Rebuild America Retirement bonds. This idea is being foisted on us by none other than
the resident CNBC shill Jim Cramer.
These bonds do not as yet exist, and Cramer’s proposal regarding them is a
trial run to gauge investor reaction. The idea was proposed on “Mad Money,” which we
found appropriate. These bonds supposedly would strike a medium between risk,
safety and income. They certainly wouldn’t offer growth with the dollar falling in value.
Cramer said investment options are somewhat limited today, and that he didn’t want to
see people falling prey to investment scams. He probably had his friend Bernie Madoff
in mind.
4
This “Mad Man Cramer” has called upon the Treasury Department to issue 30-
year, 5% bonds. As you know our Treasury has so much paper to sell that it has had
to ask the Fed to monetize, create money out of thin air, to fund $3 trillion in treasuries,
Agencies (Fannie –Freddie-FHA, etc.), and toxic garbage securities from America’s
biggest elitist banks. Inadvertently, the secret Fed refuses to divulge what they are
paying for such garbage. These 30-year, 5% Treasuries would be offered as a way to
help families, who are desperate after having lost some 50% of their investments in the
market to recover their savings. You might call them modern day Continentals.
This newest monstrosity is designed specifically for 401(k)’s, IRA’s and 529
college savings plans. They’d be commission free and the 5% would compound.
Cramer tells us they’d double in 14.5 years.
Supposedly these funds would go toward economic recovery. How can that be
when the Treasury is struggling to cover a $1 trillion plus budget shortfall? What
Cramer and the elitists are trying to do is entice the average American into funding the
administrations out of control spending. Don’t forget our president has told us we’ll
have annual budget shortfalls of $1 trillion or more as far as the eye can see.
Fools and their money are soon parted. This is another scam to keep the
American economy afloat. Anyone who invests in US government paper is stupid and
they deserve to lose their money.
This shows you how the elitists totally control CNBC to do their bidding.
July 3 MBA Mortgage Applications rise 10.9%.
About $29 billion from President Barack Obama’s $787 billion economic
stimulus package has been provided to state and local governments, a pace slightly
ahead of schedule, according to congressional auditors.
Most of the money is allocated for health care and education and makes up
about 60 percent of the stimulus funding states and local governments will get for fiscal
2009, the Government Accountability Office said in a report obtained by Bloomberg
News.
More than 90 percent of those funds are being used to maintain benefits under
Medicaid, the government health-care plan for low-income Americans, and to shore up
education programs, the report said.
Many states are using money allocated for highway improvements on repaving
projects because they put people to work quickly, it said. State officials said bids are
coming in below estimates because so many contractors are looking for work.
The analysis was based on information from 16 states and the District of Columbia,
which represent about 65 percent of the U.S. population.
The $3.5 trillion commercial real estate market is a ticking “time bomb” that
may lead to a second wave of losses at large U.S. banks, congressional Joint
Economic Committee Chairwoman Carolyn Maloney said.
About $700 billion in commercial mortgages will need to be refinanced before
the end of 2010 and “doing nothing is not an option,” Maloney, a New York Democrat,
said at a committee hearing today. This “looming crisis” may lead to significant losses
for banks, force shopping center and hotel owners into bankruptcy, and impede
economic recovery, she said.
The response by banks to this “growing threat has been slow and inadequate,”
said James Helsel, a partner at RSR Realtors in Harrisburg, Pennsylvania, and
treasurer for the National Association of Realtors. “The lack of liquidity and banks’
reluctance to extend lending are also becoming apparent in the increasing level of
delinquent properties.”
There were 5,315 commercial properties in default, foreclosure or bankruptcy
at the end of June, more than twice the number at the end of last year, with hotels and
5
retail among the most “problematic,’ Real Capital Analytics Inc. said in a report
yesterday. Losses on commercial mortgage-backed securities, or CMBS, will total 9
percent to 12 percent of the market, or as much as $90 billion, said Richard Parkus, a
research analyst for Deutsche Bank Securities in New York.
Government insured home loans jumped to 36 percent of all U.S. mortgage
applications in June, the highest since 1990, the Mortgage Bankers Association said.
Federal Housing Administration and Veterans Administration loan applications
increased in market share from 25.7 percent in May and from 27 percent a year
earlier, the Washington-based trade group said today in a statement.
Borrowers are turning to government backing to offset stricter lending by
banks. About 50 percent of banks tightened requirements for prime borrowers in the
first quarter, asking for bigger down payments and more savings, the Federal Reserve
said in June.
“Credit standards are tightened so much, home-buyers have turned to the
government,” said Michelle Meyer, economist for Barclays Capital. “I think that as the
financial markets normalize and credit markets heal, you’ll start to see the share of
conventional mortgages increase again.”
The Mortgage Banker’s index of applications to purchase a home or refinance
a loan rose 11 percent to 493.1 in the week ended July 3. Purchase applications rose
6.7 percent while requests to refinance gained 15 percent.
The number of Americans filing claims for unemployment benefits fell last week
to the lowest since January, as early automotive plant closures altered the timing of
layoffs that typically happen at this time of year.
Initial jobless claims fell by 52,000 to 565,000, a lower level than forecast, in
the week ended July 4, from a revised 617,000 the prior week, the Labor Department
said today in Washington. Meanwhile, the number of people collecting unemployment
insurance jumped to a record in the prior week.
Manhattan apartment rents fell as much as 18 percent in the second quarter
from a year earlier as rising unemployment curbed demand.
The median price dropped 3.1 percent to $3,100 a month, appraiser Miller
Samuel Inc. and broker Prudential Douglas Elliman Real Estate said today. Studio
prices fell 18 percent to $2,000; one-bedrooms declined 13 percent to $2,795; two-
bedrooms were down 5.1 percent to $4,550 and three-bedrooms dropped 4 percent to
$7,673. A separate report from broker Citi-Habitats Inc. showed average rents fell 8
percent for studio and one- bedrooms and 11 percent for two- and three-bedrooms.
U.S. wholesale inventories fell again in May as distributors kept working to
clear their shelves of excess supply built up by the reduced demand of the recession.
Wholesalers lowered inventories 0.8% to a seasonally adjusted $402.2 billion,
the Commerce Department said Thursday. April inventories fell 1.3%, revised from an
originally reported 1.4% drop.
A gauge of excess supply, the inventory-to-sales ratio, fell a second straight
month, indicating wholesalers were slowly getting inventories under control.
The sales of these middlemen of the economy crept up 0.2% in May to a
seasonally adjusted $311.3 billion, after staying flat in April. April sales were originally
seen down 0.4%. For the year, sales in May were 19.9% lower.
Year over year, inventories were down 7.6%.
The nation’s retailers were already reeling from the new consumer frugality but
in June, incessant rain and rising unemployment further dampened sales. Stores that
had made strides in recent months reverted to double-digit declines.
Overall, the industry posted a 6.7 percent decline in sales for the month, in
contrast to a 3.9 percent increase a year ago, according to the Goldman Sachs Retail
6
Composite Index. Wal-Mart, which had been a bright spot in the retailing world and
helped lift the overall industry number, is no longer reporting monthly sales. Retailers
are also facing challenging year-over-year sales comparisons because this June there
were no tax rebate checks to help bolster shopping.
The US Treasury on Wednesday pushed ahead with scaled back plans for
public- private partnerships to buy toxic assets, naming nine fund managers and
allocating $30bn of public funds, but without securing any further backing from the
Federal Reserve.
Officially, the US central bank is still considering providing additional financing
for investors buying bubble-era residential mortgage-backed securities, but its decision
not to announce anything on Wednesday strongly suggests that it does not intend to
take this step.
Government insured home loans jumped to 36 percent of all U.S. mortgage
applications in June, the highest since 1990, the Mortgage Bankers Association said.
Federal Housing Administration and Veterans Administration loan applications
increased in market share from 25.7 percent in May and from 27 percent a year
earlier, the Washington-based trade group said today in a statement.
Borrowers are turning to government backing to offset stricter lending by
banks. About 50 percent of banks tightened requirements for prime borrowers in the
first quarter, asking for bigger down payments and more savings, the Federal Reserve
said in June.
“Credit standards are tightened so much, home-buyers have turned to the
government,” said Michelle Meyer, economist for Barclays Capital. “I think that as the
financial markets normalize and credit markets heal, you’ll start to see the share of
conventional mortgages increase again.”
The Mortgage Banker’s index of applications to purchase a home or refinance
a loan rose 11 percent to 493.1 in the week ended July 3. Purchase applications rose
6.7 percent while requests to refinance gained 15 percent.
In June, the government-insured share of purchase applications climbed to
38.6 percent from 27.8 percent a year earlier, the MBA said. The federally backed
share of refinance applications increased to 33.6 percent. It touched a record high 38.4
percent in October, according to the MBA.
Home loan rates climbing from a record low 4.78 percent in April are one
reason buyers are looking for other ways to reduce costs. The 30-year fixed U.S.
mortgage rate was 5.2 percent this week, according to McLean, Virginia-based
Freddie Mac.
“A primary reason government-insured loans have retained a high share of the
purchase market is that these loans typically require lower down payments than
conventional loans,” said Orawin Velz, associate vice president of economic
forecasting for MBA. “In addition, lending standards tend to be tighter for conventional
loans, especially for loans that require private mortgage insurance.”
God help Goldman if this is true and the government goes after them. This
would constitute massive unlawful activity. Indeed, the allegation is that Goldman
alone was given this access!
God help our capital markets if this is true and is ignored by our government
and regulatory agencies, or generates nothing more than a "handslap." Nobody in
their right mind would ever trade on our markets again if this occurred and does not
result in severe criminal and civil penalties.
There apparently is reason to believe that Sergey might have been involved in
exactly this sort of coding implementation. Specifically, look at the patent claims cited
7
on DailyKos; his expertise was in fact in this general area of knowledge in the
telecommunications world.
This is precisely the sort of thing that a Unix machine, sitting on a network cable
where it can "see" traffic potentially not intended for it, could have an interface put into
what is called "promiscuous mode" and SILENTLY sniff that traffic!
ASSUMING THE TRAFFIC IS PASSING BY THE MACHINE ON THE WIRE
THIS IS TRIVIALLY EASY FOR ANY NETWORK PROGRAMMER OF REASONABLE
SKILL TO DO. IF THAT TRAFFIC IS EITHER UNENCRYPTED OR IT IS EASY TO
BREAK THE ENCRYPTION.
Folks, I have no way to know what the code in question does, but if there's
anything to this - anything at all - there is a major, as in biggest scam of the century -
scandal here - something much, much bigger than Madoff or Stanford.
Trade at international ports is on track to drop more than 10% this year, one of
the steepest declines ever, according to a new maritime industry report.
Cargo ships will carry 27 million fewer containers by year's end than they did in
2008 -- a reduction roughly equivalent to all of the cargo containers handled by the five
busiest U.S. seaports in a typical year, according to London-based Drewry Shipping
Consultants' Container Forecaster Report.
“There has never been a decline like this before. We have never seen numbers
like these," said Neil Dekker, editor of the Drewry report. "The container industry is
looking at a $20-billion black hole of losses. We can expect a lot of casualties."
Nationally, 24% of consumers say the economic conditions in the United States
are getting better, down five points from the end of last week. Fifty-two percent (52%)
of adults say the economy is getting worse.
The Rasmussen Investor Index, which measures the economic confidence of
investors on a daily basis, fell to its lowest level in three months. At 70.3, investor
confidence is down fourteen points over the past week and fifteen points over the past
month.
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows
that 32% of the nation's voters now Strongly Approve of the way that Barack Obama is
performing his role as President. Thirty- seven percent (37%) Strongly Disapprove
giving Obama a Presidential Approval Index rating of –5.
A new Rasmussen Reports national telephone survey shows that 41% would
vote for their district’s
Republican congressional candidate while 38% would choose the Democratic
candidate.
A record 33.8 million people received food stamps in April, up 20 percent from
a year earlier, as unemployment surged toward a 26-year high.
The Bloomberg consensus for AA earnings was -.38. AA reports -.47 but -.26
after adjustments - and everyone says earnings were better than expected?!?!? Hope
& hype are eternal on The Street.
Average rates for 30-year mortgages fell for the second straight week, but still
remained above record lows reached earlier this year, Freddie Mac said yesterday.
The average rate for a 30-year fixed home loan was 5.2 percent this week,
down from 5.32 percent last week, Freddie Mac said. At this time last year, the
average rate for a 30-year fixed mortgage averaged 6.37 percent.
Rates on 30-year mortgages fell to a record low of 4.78 percent earlier this
year, spurring refinance activity.
But rates then rose as high as 5.6 percent in June after yields on long-term
government debt, which are closely tied to mortgages rates, climbed as investors
8
worried that the huge surplus of government debt hitting the market could trigger
inflation.
Since then, the yield on the 10-year Treasury note has fallen back from an
eight-month high of 4.01 percent reached in June to 3.38 percent yesterday.
The American Bankers Association reported that the number of home equity
loans 30 days or more delinquent rose to a record high of 3.52 percent in the first
quarter, Nothaft noted.
This week, the average rate on a 15-year fixed-rate mortgage fell to 4.69
percent, down from 4.77 percent last week, according to Freddie Mac.
The rates do not include add-on fees known as points. The nationwide fee for
30-year and 15-year fixed rate mortgages averaged 0.7 point.
CIT Group Inc. shares tumbled on concern that the Federal Deposit Insurance
Corp. won’t give the commercial lender access to its Temporary Liquidity Guarantee
Program.
The Group of Eight nations approved $20 billion in aid over three years to help
poor farmers in developing nations grow and sell more food.
The G-8 will work with international organizations such as the World Bank to
fund the program, President Barack Obama told reporters on the final day of a G-8
summit in L’Aquila, Italy. The initiative aims to cut the number of malnourished people
from about 1 billion today. The G-8 agreed to add $5 billion to an earlier proposal for a
$15 billion program, Obama said.
The U.S. trade deficit unexpectedly narrowed in May to the lowest level in
almost a decade as exports jumped while imports of crude oil and auto parts declined.
The gap between imports and exports decreased 9.8 percent to $26 billion, the
smallest deficit since November 1999, from a revised $28.8 billion in April that was
lower than previously estimated, the Commerce Department said today in Washington.
Imports fell while exports rose the most since July 2008.
A shrinking deficit signals trade will contribute more to U.S. gross domestic
product as exports to emerging economies such as Brazil increase. Meanwhile, U.S.
demand for imported auto parts was held down in May by production cutbacks and
factory shutdowns by Detroit-based General Motors Corp. and Chrysler LLC, based in
Auburn Hills, Michigan, two of the nation’s three largest automakers.
“Trade looks like it’s going to be a big plus for second quarter GDP,” said
James O’Sullivan, a senior economist at UBS Securities LLC in Stamford, Connecticut.
“It looks like the plunge in exports is over, which is of course consistent with the goal of
the economy starting to stabilize after a dramatic collapse.”
Prices of goods imported into the U.S. rose in June for a fourth straight month
as oil costs jumped by the most in a decade.
The 3.2 percent gain in the import price index followed a revised 1.4 percent increase
the month before that was larger than previously estimated, according to a Labor
Department report today in Washington. While prices excluding fuels rose 0.2 percent,
they were down a record 6.5 percent from June 2008. [Of course there is no inflation].
President Obama's signing statement, tacked onto last month's war
supplemental bill, claimed he could ignore Congress's mandate to pressure the World
Bank on labor and environmental standards.
Consumer confidence levels dropped hard in the middle of July.
Released Friday, the Reuters/University of Michigan preliminary July consumer
sentiment index moved to 64.6, from 70.8 in June. It had been expected to stand at
70.0.
The preliminary current conditions index was 70.4, from 73.2, while the
expectations index was 60.9, from the prior month's 69.2.
9
On the price pressure front, the one year inflation reading was 3.0%, from
June's 3.1%, while the five year inflation reading was 3.1%, from 3.0%
The Federal Reserve's latest weekly money supply report Thursday shows
seasonally adjusted M1 fell by $16.2 billion to $1.653 trillion, while M2 fell $36.2 billion
to $8.349 trillion.
The figures are preliminary estimates for the week extending through June 29
and are subject to revisions.
More details on the report, along with weekly information on the Fed's custody
holdings, repurchase agreements, Treasury portfolio and free reserves, can be found
on the Internet at http://www.federalreserve.gov/releases/.
The U.S. trade gap narrowed unexpectedly to $26 billion in May, the smallest
since November 1999, as exports rose and domestic demand for foreign goods
slumped, government data on Friday showed.
The Commerce Department said exports increased 1.6 percent in May, while
imports declined by 0.6 percent. Economists said the drop in imports signaled
continued weakness in the recession-mired U.S. economy.
Zero Hedge (May 5, 2009): Previously Zero Hedge observed the rather curious
integration of Goldman Sachs within the fabric of the NYSE's program trading
environment, which, by their own admission, has everything to do with Goldman being
the (monopoly) actor in the NYSE's Supplemental Liquidity 2 Provider program.
I highlighted that the program was set to expire on April 30.
Today, unsurprisingly, the NYSE posted a notice of a proposed rule change extending
the SLP program another six months, until October 1, 2009 (this does not change my
commitment to providing weekly NYSE program data). I appreciate our readers'
existing and future feedback in this matter.
The full text of the comments by Jeffrey S. Davis of the NASDAQ Stock Market
LLC is presented below, but here are some very relevant snippets.
NYSE fails to explain why proprietary liquidity is more valuable than agency
liquidity, or why proprietary liquidity should be favored over agency liquidity. NYSE
claims that the proposal is designed to prompt liquidity provision but it simultaneously
disqualifies large liquidity providers.
In NASDAQ's view, these irregularities reveal that NYSE's true motivation for
the SLP Proposals is to discriminate among its members and to burden some
members' ability to compete with NYSE.
And who is the one and only beneficiary of this rampant disregard for almost 80
years of market regulatory practice? Who is it that has now become the de facto
provider of "market liquidity" which however has much more sinister connotations
when reading through the comments of not just some blogger but the NASDAQ Stock
Market itself? http://zerohedge.blogspot.com/2009/05/more-observations-on-
supplemental.html
When a firm has an 87.5% trading accuracy record, something unnatural is
occurring. And we wonder why the buy side has been so docile and malleable when
the money is being derived from them!
Over the past decade the move to electronic trading and pricing in pennies was
heralded by Street insiders as a means to improve liquidity for clients. This appears to
be a deception. Virtually every facility benefitted proprietary trading at a select few
firms. Who’s the patsy?
Anyone with a modicum of industry experience understands that ‘providing
liquidity’ is at best a euphemism for front-running order flow. Anyone that regularly
‘provides liquidity’ will go broke.
10
GS jumped yesterday on this: (BN) Goldman Sachs Trading Revenue May Beat 2007
Record, Moszkowski Note Says
Goldman Sachs Group Inc. is on track to beat its 2007 trading-revenue record,
enabling it to boost compensation by an estimated 64 percent from last year,
according to Bank of America Corp. analyst Guy Moszkowski. Goldman Sachs has
``unmatched risk-taking/risk-management skills in a market that strongly rewards these
because of decline in competitor risk appetite,''…Six months ago, Goldman Sachs was
supported by $10 billion from the U.S. Treasury and relied on government guarantees
to issue debt. Moszkowski predicts the company will reap $26.45 billion from trading
this year, a gain from $25.36 billion in 2007 when the firm shattered Wall Street profit
records.
Remember this BN story from May? Goldman Sachs’s $100 Million Trading
Days Hit Record Goldman Sachs Group Inc. reaped more than $100 million in trading
revenue on a record 34 separate days during the first three months of 2009, up from
the previous peak of 28 in last year’s first quarter.
The first-quarter number was almost double the total for all of 2005.
Zero Hedge: Citadel Joins the Program Trading Industrial Espionage Fray,
Sues Malyshev And Teza The gloves are now completely off in the escalating program
trading fiasco that was started by Goldman's former Sergey Aleynikov. Oddly, while
Zero Hedge was fully expecting the Teza injunction to come from Goldman, it seems
Griffin was more than happy to burden himself with that task. Hopefully Citadel is not
faced with a case of reverse discovery and forced to document the 40% returns that it
generated compliments of Malyshev when all its other groups on average lost around
50% in 2008.
http://zerohedge.blogspot.com/
Citadel Investment Group LLC, the $12 billion hedge fund firm founded by Ken
Griffin, sued three former executives and the firm they founded, Teza Technologies
LLC, claiming violation of noncompetition agreements.
Teza described itself in a July 6 e-mail as a “formative” firm that is neither
trading nor investing.
Named after a river in western Russia, the Chicago-based firm was co-founded
by Misha Malyshev, Jace Kohlmeier and Matt Hinerfeld. All were named in the
complaint…
Malyshev worked at Citadel for almost six years and until February was its
head of high-frequency trading. He was on the team that ran a $1.8 billion tactical
trading fund that uses computer model to make trades every few seconds. The fund
climbed 40 percent last year, while its main funds tumbled 55 percent.
American International Group is preparing to pay millions of dollars in bonuses
this month to several dozen top corporate executives after an earlier round of
payments four months ago set off a national furor. [Revolucion!]
China has launched its highest-profile criticism of the dominant role of the US
dollar as a global reserve currency at a meeting of the world’s biggest economies.
Dai Bingguo, Chinese state councillor, raised the issue on Thursday when he
joined the leaders of four other emerging economies for talks with the leaders of the
Group of Eight industrialized nations
The Treasury Department apparently made a change in early June in the way
how they compute indirect bids. No one seems to have a definite answer as to what
changed, but Indirect Bidder percentage in Treasury Auctions in June has been
significantly higher in most cases, prompting the speculation by the traders of
manipulation or massaging of the numbers so that the market sees high indirect bids
(considered to be the proxy for foreign interest in Treasuries).
11
Top officials in China and Russia have expressed unease about the growing
U.S. budget deficit, slated for a record $1.75 trillion in fiscal 2009 alone. This means
that traders pay extra close attention to foreign demand figures.
The Treasury's changes, contained in a June 1 entry to the Federal Register, relate to
what it considers a "guaranteed bid." Under the previous arrangement, once a primary
dealer offered securities at a prespecified level to its customer, that bid was
considered to be the dealer's own.
"We are not precisely sure what this all means," said Ward McCarthy,
managing director at Stone & McCarthy Research Associates in Princeton, New
Jersey.
"We spoke with some very seasoned market players with decades of
experience on dealer trading floors who were similarly unsure what to make of the
contents of the Federal Register."
To no one’s surprise Fed insiders are protesting that a Congressional audit of
its operations will compromise its independence. Only the most gullible or ignorant
believe the Fed has independence.
And once again we must warn that Americans are exhausting their
unemployment benefits at a record rate (49.17% as of 5/31). And when one draws
‘extended benefits’ they drop off the jobless claims roles.
Rasmussen: Just 27% Favor Second Stimulus Plan This Year, 60% Oppose.
It’s not just economic and financial data that is purposely corrupted to depict a
better than reality picture. The LA Times: LAPD's public database omits nearly 40% of
this year's crimes.
http://www.latimes.com/news/local/la-me-lapd-crimemap9-2009jul09,0,909582.story
Up To 10,000 Illinois Prisoners May Be Released; Gov. Pat Quinn: Release Of
Inmates Could Save Taxpayers $125 Million.
In the realm of electronic trading, systems are being fed into prop desks so
traders can see all real money flows into and out of stocks and groups.
Recent revelations at Goldman Sachs show there is major automated front-
running going on. The sources for this illegal activity finding orders loaded into the
system and trading against them; and discovering and then front-running electronic
orders by a penny or more by exploding the lag in execution. Firms grabbing pennies
are making billions of dollars a day. 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 extra incentive to front-run order flows. Can you imagine that this is a policy of
the NYSE led by the pirates of Goldman Sachs?
The Treasury is supposedly putting the clamps on derivatives yes, and we
have a bridge for sale.
The CFTC says it will move aggressively to rein in excessive speculation in
energy and metals. Let’s see if they force the banks to cover some of naked shorts in
gold and silver.
This is a major development because of the concentrated positions of JPM,
HSBC and Goldman in gold and silver. We could finally get a break – let’s see what
happens. It could also be that the Comex gold and silver inventories are a scam and
something has to be done about it now.
12
In the FDIC Friday Night Financial Follies: Bank of Wyoming, with $70
million of assets and $67 million of deposits, was closed by the state’s Department of
Audit, Division of Banking and the Federal Deposit Insurance Corp. was named
receiver, the FDIC said today in a statement. Central Bank & Trust in Lander,
Wyoming, will assume the deposits and the failed bank’s only office.
AIG has been talking with the Obama administration's compensation czar,
Kenneth Feinberg, about paying out about $235 million in bonuses, which are due to
be paid on July 15 to about 400 employees in that group, according to published
reports. The Washington Post first reported the story this morning.
AIG does not actually need Feinberg's approval to pay out the bonuses -- he
has to review only payments that were contracted beginning in 2009 -- but AIG wants
him to review the bonuses so as to avoid the public uproar that took place in March
when AIG paid out $135 million in bonuses to employees of its financial products
division. The $235 million in bonuses was contracted in 2008.
A firestorm of criticism surrounded AIG after it disclosed the March bonuses,
causing some employees to return chunks of their payouts, with several resigning. AIG
lost $99 billion last year, most of which came from derivatives written by that unit.
The Treasury is supposedly putting the clamps on derivatives yes, and we
have a bridge for sale.
The CFTC says it will move aggressively to rein in excessive speculation in
energy and metals. Let’s see if they force the banks to cover some of naked shorts in
gold and silver.
This is a major development because of the concentrated positions of JPM,
HSBC and Goldman in gold and silver. We could finally get a break – let’s see what
happens. It could also be that the Comex gold and silver inventories are a scam and
something has to be done about it now.
*****
STOP THE PASS ACT S.1261 REAL ID ACTION ALERT: The Senate
Committee on Homeland Security and Governmental Affairs will be having hearings on
the PASS Act S. 1261. The PASS Act WILL NOT REPEAL REAL ID as it is being billed.
It will only repeal certain portions like Title ii and in the end be worse than REAL ID once
the PASS Act is inserted. REAL ID will REMAIN Federal law and will be stronger than
before if passed.
Both the ACLU and the ACLJ are opposing the Real ID Act and the PASS Act.
(The ACLU and the ACLJ are the most prominent legal organizations on the "left" and
"right" respectively.)
Special interests groups are trying to force Democrats, Independents and
Republicans to support this legislation. States have been and are working to ensure
driver's licenses are secure documents and have document integrity. The federal
government, in spite of the states, wants to set international standards that are not
needed. The federal government wants control of your state driver's license. The
federal government is bribing states to go along with its plans.
Our freedom and our rights are not for sale.
Some governors want to take the bribe money. The First, Fourth and Tenth
Amendments are under attack. The Second Amendment will follow. This is not a
partisan issue. All Americans must take action now.
13
• The PASS Act does not repeal the Real ID Act. It does repeal
provisions of the Real ID Act; those provisions that are included
in Title II of the Real ID Act 2005. The Real ID Act is still intact
and is federal law.
• The PASS Act contains many of the most egregious aspects of
the Real ID Act; including the requirement for a digital facial
image/photograph that will be mandated to be internationally
facial recognition compatible.
• There is not a federal law that prohibits the simultaneous use of
CCTV/surveillance cameras and facial recognition technology in
real time.
• The PASS Act will do nothing to provide a higher level of
National security. Under the provisions of the PASS Act the
documents used to obtain a driver's license are not
authenticated. These documents are called "breeder"
documents.
• Although requirements for new databases and the linking of
databases are not part of the PASS Act the fact remains
through aamva.net and NLETS states can still have information
contained in their state Department of Motor Vehicles made
available to both federal and international law enforcement
agencies without a court order.
• Two international agencies (AAMVA and the ICAO, an agency
of the United Nations) were involved in U.S. policy and law - the
Real ID Act 2005 and the newly proposed PASS Act. DHS has
called AAMVA the "hub" and "backbone" of the Real ID Act. On
AAMVA's own web-site it proclaims it is an international
organization that serves law enforcement and motor vehicle
administrators.
• Both the Real ID Act and the PASS Act result in Americans
being enrolled into a single global biometric identification
system that links a person's body to their ability to buy and sell.
The Senate Committee on Homeland Security and Governmental

Affairs will be considering the legislation very soon. The committee
members and their phone numbers are listed below. Ask your
neighbors, friends, co-workers, relatives and everyone else you have
contact with to make the calls as well.
16 CALLS, 16 MINUTES, FOR YOUR FREEDOM AND FUTURE

GENERATIONS FREEDOM.
Senator Lieberman Senator Bennet
202-224-4041 202-224-5852
Chairman
Senator Burris
Senator Collins 202-224-2854
202-224-2523
Senator Carper
Senator Akaka 202-224-2441
202-224-6361
Senator Coburn
14
202-224-5754 Senator McCain
202-224-2235
Senator Ensign
202-224-6244 Senator McCaskill
202-224-6154
Senator Graham
202-224-5972 Senator Pryor
202-224-2354
Senator Landrieu
202-224-5824 Senator Tester
202-224-2644
Senator Levin
202-224-6221 Senator Voinovich
202-224-3353
FOR MORE ON REAL ID, THE PASS ACT, BIOMETRICS, &

INTERNATIONAL LAWS/REGS AND DATABASES GO TO
www.stoprealidcoalition.com
<http://www.stoprealidcoalition.com/> they have an action packet as
well as several other pieces of information you can review.
*****
[It was 14-months ago that we received over 100 complaints regarding Pat Kiley’s
operation, which led to those investors terminating their investment with Mr. Kiley’s
company. We expressed our misgivings about the veracity of his investments. It looks
like our worst suspicions maybe affirmed. Thank goodness we saved all those people
a lot of grief. This revelation could lead to prison, but it won’t get the investors who
stayed or wouldn’t listen their money back.]
Twin Cities advisers accused of fraud, mismanagement

http://www.startribune.com/business/50309367.html?page=1&c=y
*****
[This is a fantastic article, describing how every bank account holder is getting
screwed by the banks.]
Banks' 'courtesy' loans at soaring rates irk consumers
http://www.usatoday.com/money/perfi/credit/2009-07-08-banks-overdraft-fees_N.htm
*****
Breaking: FBI Arrest Opens Goldman-Sachs' Pandora's Box
http://www.dailykos.com/story/2009/7/6/750420/-Breaking:-FBI-Arrest-Opens-
Goldman-Sachs-Pandoras-Box
*****
**FLASH** Goldman Code Theft BOMBSHELL?
http://market-ticker.denninger.net/archives/1192-FLASH-Goldman-Code-Theft-
BOMBSHELL.html
*****
INFLUENCE IS ALL IN THE BAG FOR 'GOVERNMENT SACHS'
15
http://www.nypost.com/seven/07092009/business/influence_is_all_in_the_bag_f
or_governme_178298.htm
*****
Goldman Sachs Loses Grip on Its Doomsday Machine: Jonathan Weil
http://www.bloomberg.com/apps/news?pid=20601039&sid=aFeyqdzYcizc&
*****
In-Depth Look - Stealing Secrets from Goldman Sachs - Bloomberg

http://www.youtube.com/watch?v=lrlQSMCx-
aE&eurl=http%3A%2F%2Fzerohedge%2Eblogspot%2Ecom%2F&feature=player_emb
edded
*****
House Overwhelmingly Rejects Signing Statement
by: Walter Alarkon
http://www.truthout.org/071009C?n
Part 1: 07/08/09 Freedom Watch 22 w/ Ron Paul, Jim DeMint, Rand Paul, more
http://www.youtube.com/watch?v=Cnx6a5mlM9M#t=4m21s
*****
Craig Roberts, Former Assistant Treasury Secretary has interesting comments
on the bailouts… Mish
http://www.24hgold.com/english/news-gold-silver-craig-roberts-former-
assistant-treasury-secretary-has-interesting-comments-on-the-bailouts-
.aspx?article=2181427090G10020&redirect=false&contributor=Mish
*****
Kohn warns Congress on meddling in Fed's affairs
http://www.reuters.com/article/companyNewsAndPR/idUSN0945907120090709
*****
Two Authorities on Fed Advise Congress Against Expanding Its Power
http://www.nytimes.com/2009/07/10/business/economy/10fed.html?_r=2&ref=business
*****
Home Sellers in U.S. Cut Prices by $27 Billion, Trulia Says
http://www.bloomberg.com/apps/news?pid=20601103&sid=agq0NRuqLW38
By Daniel Taub
*****
Has Capitalism Failed?
By Ron Paul
http://www.24hgold.com/english/news-gold-silver-has-capitalism-failed-
.aspx?article=1199920708G10020&redirect=false&contributor=Ron+Paul
*****
Dear Bob,
Eliminate the evidence, cover your tracks!
First the M3, then the creative accounting shift to 'mark to model' to help zombie
banks be less stressed and now the decommissioned DPTR so we can all stay
uninformed about daily trading activity.
Goldman has to love this!
16
http://apps.nyse.com/commdata/PubInfoMemos.nsf/AllPublishedInfoMemosNyseCom/
85256FCB005E19E8852575DF006D4F66/
What's next, shut off all communications and use pony express?
Just waiting to see how far they can push - certainly the next stimulus request should
be welcome with open arms?
In California, home of the Terminator [what a great name]
Best regards,
*****
Schumer: Immigration Bill to Be Ready by Labor Day

http://www.truthout.org/070909E?n
*****
Bill Gives Attorney General Power To Designate Gun Owners, Tax Protesters As
Terrorists
Amendments to H.R. 2647 empower Holder to demonize law-abiding American

citizens as “extremists” under definitions already established by Homeland Security
http://www.prisonplanet.com/bill-giv...errorists.html <http://www.prisonplanet.com/bill-
giv...errorists.html>
Paul Joseph Watson

Prison Planet.com
Monday, July 6, 2009
Amendments to the 2010 National Defense Authorization Act, which has already been
passed by the House, would empower the Attorney General Eric Holder to define gun
owners, anti-abortion activists and tax protesters as domestic terrorists in light of
recent federal reports that classify millions of Americans as “extremists”.
Former impeached Florida judge and now Democratic Congressman Alcee Hastings
has introduced amendments to H.R. 2647: National Defense Authorization Act for
Fiscal Year 2010, which would give Holder dictator powers to demonize legitimate
protest groups as being affiliated with violent race hate organizations.
The bill is ostensibly aimed at preventing race “extremists” and gang members from
joining the Army, but since the Army already hires felons, criminals, racists and gang
members, the real purpose behind the legislation is to codify the move to label gun
owners, “anti-government” activists and tax protesters as domestic terrorists, a
process that has been ongoing since at least the start of the decade.
The bill’s definition of “people associated or affiliated with hate groups” include,
“Groups or organizations that espouse an intention or expectation of armed
revolutionary activity against the United States Government,” or “Other groups or
organizations that are determined by the Attorney General to be of a violent, extremist
nature.”
The evidence required to show that such an organization is affiliated with a violent hate
group includes people possessing tattoos identifying them with the group, individuals
who attend conferences or rallies sponsored by a “hate group,” people who engage in
17
online discussion forums of an “extremist” nature, people who possess documents,
books or photographs or simply “related materials as defined by the Attorney General”
that represent “hate propaganda.”
The amendments introduced by Hastings were passed by the House and the bill now
moves on to the Senate for approval before it is signed by the President.
*****
Why Banks Prefer Foreclosures over Mortgage Modifications

http://seekingalpha.com/article/147570-why-banks-prefer-foreclosures-over-mortgage-
modifications?source=email
*****
Judge asks if US govt would shut UBS in tax fight

http://in.reuters.com/article/fundsNews/idINL849735520090708?sp=true
*****
China demands currency reform, France backs debate

http://www.reuters.com/article/asianCurrencyNews/idUSPEK20673520090709
*****
HR 2749: A Stealth Agribusiness Empowering Act

by Stephen Lendman
http://sjlendman.blogspot.com/
*****
From a Fellow Subscriber:
Hi, Bob:
Check this out. seized bonds probably genuine
<http://www.asianews.it/index.php?l=en&art=15648&geo=&theme=&a
mp;size=A>
http://www.asianews.it/index.php?l=en&art=15648&geo=&theme=&size=A
The other big story is the apparently irretrievable loss of Goldman Sachs' trading
software. I wonder how they found out it had been stolen. Perhaps they noticed
someone front running their trades?
Were I really cynical, I'd say that the situation now calls for a catastrophe to hit Wall
Street, as camouflage for the collapse of Goldman Sachs and other large financial
institutions it is connected to.
Meanwhile, NASA apparently intends to bomb the Moon, supposedly to find out
whether there is any water there. This not only violates a treaty, it is sure to annoy the
ETs who have a base there. Perhaps NASA is seeking to gin up a war in which it can
be on the front lines. Warm regards,
*****
http://ia301538.us.archive.org/1/items/MaxKeiserRadio-TheTruthAboutMarkets-
08July2009/tamnz-080709-full.mp3
18
About an inch in is Keiser's analysis today of the "micro seconds programmed trading
scams front running all trades by monopolistic cartel player that is plugged into govt.,
playing for themselves that killed Capitalism".
He says it in ways entertaining and easy to understand.
*****

Help stop the Cap & Trade bill that will cost all Americans dearly in lost jobs and
huge expense by reading and signing the following petition to your Senators before
they vote...
http://www.campaignforliberty.com/campaigns/hr2454petition.php
There is more and more evidence that the Earth is beginning a cooling trend and
global warming caused by man's activities is a fallacy. American industry has
nearly been completely off-shored to other countries and this bill will finish the job
if passed.
You can do something today to help save America and stop the trend of centralized
global government.
*****

I heard Obama say in reverse speech "He will seal his house up"; in forward speech
Obama said US and Russia agree to joint missile defense. Good insight --to me it
means Russia is going to secure its borders and Obama was told in no uncertain
terms Russia will not allow US missiles in Georgia, etc. The openly declared oil price
manipulation probably is in retaliation against Russia for its stance. Medev is how
Obama first pronounced then corrected himself Medvedev--his highness Obama's
magical charm was nothing to Medvedev, petty Obama's little swipe--big swipe drive
down oil but the enemies of America are uniting through SCO--India recently you know
threw its hat in with China and Russia on need for change in world's reserve currency.
In spring or summer of 2007 I heard Bernanke say in reverse speech "if the economy
is still alive". Reverse speech does give insight.
*****

Hi Bob, hope your doing o.k. and applaud your continued efforts.
Thought you may be interested to hear final outcome of my refi which began in March.
After bumbling mistakes, I obtained my refi money.
Shortly thereafter I received a letter from Fannie Mae stating that they owned the loan
and BOA would handle it on their behalf. It struck me that the gov't is in the process of
owning all homes which have a mortgage. When the entire economy collapses they
can redistribute the gigantic home ownership as they see fit.
God Bless you and your work.
*****
Hi Bob:
This story may not seem like much but this story scares the S%@@ out of me. It looks
as though they are ramping up the training of local police along side federal police BIG
TIME!!! It seems to me they are getting the Local police used to being "federalized".
19
This statement stands the hair up on my neck. "Operation FALCON, which stands
for Federal and Local Cops Organizing Nationally" . That says it all !!! If that is not
Orwellian I don't know what is. We are in for BIG TROUBLE my friends, and the
sheeple don't even connect the dots. 35,000 arrests nationwide !!!!! Yikes, and this
is just with the us marshals, what if they used the FBI, the National Guard, FEMA
police and the troops stationed here with NorthCom along with all the local police,
State troopers, and Sheriffs nationwide. If they were to use all these resources at
once they could round up millions upon millions in a day !!!! EASY !!! All you local
police, state troopers, sheriffs , national guard and Military that get this letter PLEASE
SPREAD THIS NEWS , and inform all within your command what is going on in front
of your noses. Please help stop the insanity. DO NOT GO ALONG WITH THE NEW
WORLD ORDERS PLAN!!! STAND UP AGAINST THIS TYRANNY PLEASE
!!!!THANK YOU.May God help us all !!!
http://www.mercurynews.com/ci_12800491
U.S. Marshals operation nets more than 35,000 arrests nationwide
The U.S. Marshals Service has arrested more than 35,000 fugitives, including in the
Bay Area, in a month long operation that involved cooperation by federal, state and
local law enforcement agencies.
Operation FALCON, which stands for Federal and Local Cops Organizing Nationally,
arrested 35,190 fugitives nationwide between June 1 and June 30, according to Chief
Deputy U.S. Marshal Tommy Thompson, who was the commander of the operation.
In the Northern District of California, which includes the nine Bay Area counties along
with Monterey, Santa Cruz, San Benito, Mendocino, Lake, Humboldt, and Del Norte
counties, law enforcement agencies arrested 106 fugitives on 121 warrants,
Thompson said.
*****

I had a hard time keeping a straight face after reading this piece. The people in LA out
to be out there with pitchforks, hunting down the politicians that put their stamp of
approval on THIS debacle. What's wrong with that Jackson family paying for this? It,
after all, was their damn circus. There appears to be plenty of money in that estate;
easily there is 1.4 million. Send these freaks the bill!!!
Margo
http://new.music.yahoo.com/michael-jackson/news/michael-jackson-memorial-cost-la-
1-4-million--61991315
*****
Mr. Chapman, I am the former Marine here in the big apple. My former c.o. asked me
to send this on to you per your request on his show tonight. Thank you sir for getting
the word out to all the jarheads, there are 45 of us here at our VFW listing intently; we
feel Drew will lead us when the rubber hits the road. We may not reply or sound off to
often, especially those of us on active duty or active reserves but rest assured Sir, you
are well respected, and you have no better man promoting you in our ranks. God
Bless.
20
Semper Fidelis
WABC radio reports S.E.C predicts that there are more arrest coming soon.
The Link:
http://www.ft.com/cms/s/ffee34b8-6be7-11de-9320-
00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fc
ms%2Fs%2F0%2Fffee34b8-6be7-11de-9320-00144feabdc0.html&_i_referer=
<http://www.ft.com/cms/s/ffee34b8-6be7-11de-9320-
00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fc
ms%2Fs%2F0%2Fffee34b8-6be7-11de-9320-00144feabdc0.html&_i_referer=>
*****
Arkansas State Health Department: Mandatory Vaccines Are Constitutional
http://www.prisonplanet.com/arkansas-state-health-department-mandatory-vaccines-
are-constitutional.html
*****
BORN IN THE USA?
News sites swap Obama's birthplace like magic
UPI, Snopes change location within hours of WND report
http://www.wnd.com/index.php?fa=PAGE.view&pageId=103465
*****
Six Syllables to a Savage Truth, by Stewart Dougherty
On December 9, 2008, $65 billion of investor money was at peace. On the fear / greed seesaw
that is said to characterize investor emotion, fear was down on the ground, while greed was
high in the sky, having all the fun. Greed was earning a steady 1% per month, making fear look
like an over-cautious fool.
On December 10, 2008, six simple syllables transformed that greed into lead, sending it
crashing to earth while launching fear to the moon.
The syllables were these: "It's all just one big lie," and they were spoken by Bernard Madoff, in
an admission that his investment fund was nothing but an illusion and a fraud. They
represented a savage truth that would wipe out the savings of thousands, and toll the bell for
the rest of the world's investing public.
Those six syllables possessed powers far beyond their size. They forced $65,000,000,000.00
to vanish back into the thin air from which they had materialized. Thin air has been busy these
days, as you will see.
The fact that a mere six syllables could cause a multi-year, $65,000,000,000.00 fraud to
implode is testament to the truth's simplicity and power. The truth represents intellectual
gravity, and sooner or later, all things fall into its arms, whether they want to or not. The truth
does not need phalanxes of lobbyists, czars, public relations personnel, pundits, pontificators,
propagandists, pollsters, or politicians to express itself. Rather, it represents magnetic north,
toward which the human consciousness is naturally inclined. In the beginning of the revelation
of a truth, only those with courage can see it; in the end, it is clear to everyone.
[Reader's note: In this article, we will express numbers in digits. The government, financial
"services" industry, and television talking heads, to name a few, are currently bombarding
society with the terms "billions" and "trillions." The constant repetition of these terms has given
people a false sense of familiarity with them, and made them appear "normal" and "everyday."
These colossal sums are anything but normal and everyday. They are monsters that are
tearing apart our fiscal, financial and monetary systems. Those who casually throw around a
21
trillion here and trillion there, such as the steady parade of CNBC commentators, try to act as if
they understand the magnitude and implications of these sums, but they don't, because the
sums are incomprehensible and their systemic consequences are totally unknowable and
unpredictable. This is patently obvious given the extreme financial crisis afflicting our nation
and the world. Also, only "two" of something, such as trillions, doesn't seem like very much to
most, whereas the written expression of that same number, in this case
$2,000,000,000,000.00, does.]
Compared to current fiscal, monetary, economic and financial reality in the United States,
Madoff's losses were modest, and even quaint.
The USA's fiscal year 2009 federal loss ("deficit") will exceed $2,000,000,000,000.00, more
than 30 times Madoff's $65,000,000,000.00 loss. (Keep in mind that it took Madoff a
professional lifetime to lose that money; the United States will lose $2 trillion in just one year,
and according to official budget projections will continue losing hundreds of billions more,
annually, for decades to come. (More on this in a minute.))
The cost of the government's financial-crisis-related bailouts and guarantees currently exceeds
$13,500,000,000000.00, which is 200 times larger than the Madoff scandal. And the nation's
unfunded contingent liabilities, for programs such as Social Security, Medicare, Medicaid,
government pensions and the like stand at $75,000,000,000,000.00, 1,150 times larger than
Madoff's fraud. They should let Madoff out of jail and put him in charge of the Treasury. Maybe
America would get some relief.
Of course, these numbers make laughable the government's righteous indignation and shocked
disbelief that a "Ponzi scheme!" as "large" as Madoff's could have operated in the United
States. The government's response is a textbook example of the intelligence industry's
attention-diverting technique known as misdirection.
In June, 2009, the Congressional Budget Office, a government entity, issued its "Long Term
Budget Outlook" for the period 2010 through 2080. The executive summary begins with these
words: "Under current law, the federal budget is on an unsustainable path -- meaning that
federal debt will continue to grow much faster than the economy over the long run."
While that statement might seem stark, it is the verbal equivalent of morphine compared with
the actual numbers in the CBO's long term budget projection, which are nothing short of
terrifying.
According to the CBO, over the next SEVENTY fiscal years, the federal government will
NEVER have a surplus. Rather, the United States will continue to suffer massive, escalating,
multi-hundred billion dollar losses (deficits) each and every year for the next SEVEN
DECADES, which is when the budget projection stops. Under both CBO budget scenarios
(catastrophic and worse-than-catastrophic), losses in fiscal year 2080 will be the largest of the
entire 70 year series, meaning that the budget crisis will continue well beyond 2080. In the best
case, the 2080 loss will be 17.8% of GDP; in the worst case, it will be 42.8% of GDP. To put
this in context, the 2009 federal budget loss is projected to be 11.9%, in this, the worst financial
crisis in American history. So 2080 will be 50 - 300% worse than now. Who the CBO thinks will
fund these trillions of dollars' worth of forever losses, they do not say. Apparently, America is
headed back to the Stone Age, thanks to our profligate politicians and corrupt financial elite.)
The United States has already reached the point where it is arithmetically impossible for it to
pay its debts or keep its promises, unless it devalues its currency to the point where it
impoverishes its citizens and creates international financial chaos. And even devaluation as a
means of ending the country's budget nightmare will be difficult, given that so many
government programs have cost of living escalators, making inflation a No Exit horror story.
This is not subjective opinion, but rather objective, arithmetic fact, now supported even by
22
government agencies themselves, such as the Congressional Budget Office. As John Williams
of shadowstats.com has observed, even if personal incomes were taxed at 100%, the United
States still could not pay its bills.
Astonishingly, given this fiscal context, the government now proposes to effectively nationalize
the nation's health care industry, with projected additional losses (deficits) of
$1,000,000,000,000.00, a number we can be 100% certain will prove to have been grossly
understated. Additionally, it has created $13,500,000,000,000.00+, so far, to bail out Wall
Street, at the direct expense of America's citizens, adding to the nation's debt misery and
hopelessness.
(All the while, government has looked on with apparent admiration, envy and awe as Goldman
Sachs announced that despite America's financial catastrophe and despite the fact that it
gorged earlier this year at the feed trough of taxpayer bailout money, they will reward their staff
with record bonuses in 2009, totalling some $20,000,000,000.00. They are taking the taxes
paid by everyday people such as nurses, teachers, auto workers and fast food clerks, and
stuffing their pockets with it. Of course, that is just the tip of the iceberg. The rest of Wall Street
will lavish itself with taxpayer-funded bonuses, too.)
Even more astonishingly, on June 26, 2009, in the midst of America's employment and
economic meltdown, Congress approved $108,000,000,000.00 in loan-guarantee funding for
the International Monetary Fund (IMF), so the IMF can provide financial assistance to "poorer
nations." No citizens on earth are as indebted as Americans, given the nation's
$11,500,000,000,000.00 federal debt, and more than $85,000,000,000,000.00 of combined
federal debt and unfunded contingent liabilities. So how the world's most indebted nation
proposes to provide assistance to "poorer" nations is a fiscal mystery, the solution to which is
known only to the spendthrifts in Washington. Unless, of course, the money is slated to return
to the United States as "foreign aid," but that is not the plan. What arrogance, callousness and
conceit on the part of our government, to strap this added tax burden onto the backs of
American citizens, who are already the most debt-enslaved people in the world.
The IMF funding is in ADDITION to the government's June 26, 2009 $106,000,000,000.00
supplemental war appropriations bill, which was supposedly meant to pay for continuing military
operations in Iraq and Afghanistan, but which includes U.S. taxpayer gifts of $660,000,000.00
for Gaza, $555,000,000.00 for Israel, $310,000,000.00 for Egypt, $300,000,000.00 for Jordan,
$420,000,000.00 for Mexico, and $889,000,000.00 for the United Nations, for so-called
"peacekeeping" missions. War is peace. Orwell must be laughing himself sick, six feet under.
Congress is in such massive denial about the fiscal and financial crisis they have already
created that their spending orgy continues without restraint. In fact, the out-of-control spending
is now so outrageous that one can seriously argue that Congress, the Treasury and the Fed
are deliberately trying to destroy the United States. Bob Chapman
(www.theinternationalforecaster.com), a brilliant analyst and publisher of one of best
newsletters in the world, has long argued that what is happening is part of a systematic plan to
bring this country to its knees so a one-world government-for-profit, owned and operated by
global power brokers, can be implemented. His ideas deserve deep and thoughtful
consideration, because his track record thus far has been nearly perfect.
The fact is that the United States is suffocating in what has become an airless House of Lies.
Social Security is a promise that cannot be kept with anything even remotely resembling
America's current "money," and is therefore a lie. Medicare and Medicaid are promises that
cannot be kept, and are also lies. SSI benefits cannot be paid into the future, and are lies. The
federal debt cannot be paid, and is a lie. Government pensions cannot be paid, and are lies.
The prescription drug program is unaffordable, and is a lie. Food stamps and other forms of
welfare are unaffordable, and are lies. And the list goes on and on.
23
Arnold Toynbee wrote, "An autopsy of history would show that all great nations commit
suicide." This is exactly what we are witnessing today in the United States: fiscal and economic
suicide. As America's "leadership" injects financial poison into the country's veins, the citizens
stand by and watch, having not a clue about what to do to stop the destruction. Today's
unavoidable reality is that tens of millions of American citizens are going to die financially
before they die physically, thanks to government losses and crony payoffs that enrich and
empower a small, shameless, greed-stricken minority at the expense of the entire nation. (The
latter point is amply demonstrated by Washington racing to Wall Street's defense in the recent
bailout with trillions of taxpayer dollars handed over to centimillionaires, while for the past 20
years, it stood by and did nothing as the lives of millions of American workers were turned
upside down when they lost jobs that migrated overseas thanks to state-sponsored
globalization, another moronic market intervention.)
Despite the CBO's calm outline of the next seven decades' worth of ceaseless, staggering
American operating losses, plus surging debt, we are fast approaching endgame. One of the
greatest prize fights in all of history is about to begin. In one corner of the ring will be a
scrawny, sick-looking contender called The Lie, coached by Wall Street and Washington, D.C.
In the other corner will be a 250 pound, aerobically perfect, experienced fighter called The
Truth, coached by the collective wisdom, experience and technique of Time. Once the fight
starts, it will be over in a second. The same way Madoff's fund was knocked out with one
punch, once he put his Lie into the ring with The Truth.
Speaking once again of Madoff, as a citizen, you must ask yourself this: what if an official at the
Federal Reserve or the Department of the Treasury wakes up one morning, seized by his or
her conscience? What if this official cannot continue to lie about America's finances?
What if, in a moment of personal honesty and catharsis, that official repeats in public, say, at a
Congressional hearing, those six simple syllables spoken by Madoff? What if someone in
authority admits, "It's all just one big lie"?
What would happen to the bond market? The stock market? The financial system? Your local
bank? The Federal Reserve Note? It seems logical that all of these would all suffer, probably
mightily. And the prices of gold and silver? Wouldn't they go up, potentially by an order of
magnitude, as millions scrambled for financial sanctuary?
The financial laws of gravity are exactly that: laws. The narcotics of hope and denial cannot
repeal them, just as they cannot make a butterfly turn into a 747, convert lead into gold, make
America's debt disappear, or transform Bernanke into a mangod who can make the
consequences of gross fiscal and economic dereliction go away, just because he says so.
The financial laws of gravity say that it is impossible to indebt a society into prosperity, or
moneyprint everyone rich. In fact, reality says the exact opposite: endless debt and money
creation impoverish and enslave a people, while enriching to a grotesque degree a relatively
few opportunistic, immoral, greedy, insider manipulators, just as we have seen and continue to
see.
If government were genuinely trying to fix this mess, then perhaps we could have some hope,
even though we are already beyond the fiscal point of no return. But recent actions, such as the
June, 2009 $108,000,000,000.00 ($108 BILLION) added funding for the IMF, and the proposed
nationalization of health care, to cite just two relatively minor examples, demonstrate that
Washington is, at best, incapable of recognizing the seriousness of the country's
circumstances, or, at worst, is spending us into oblivion on purpose. (Collectively, could they
really be this reckless, stupid and destructive? Is that conceivable? Or is something far more
evil and diabolical at work?) Pinning one's hopes to "change" is an act of insanity given the
situation. The only change in America is the total lack of it.
24
There is a solution: It is called the Truth. The United States government must irrevocably admit
that its wanton, escalating experiment with socialism has catastrophically failed, just as it has
failed every other time throughout history that it has been attempted. And the people must be
told that this nation can return to greatness only if they and their government will return to the
virtues that made it great in the first place: honesty, responsibility, restraint, ingenuity, hard
work, self-reliance, morality, character, dignity, patriotism and an abiding belief in something
greater than ourselves.
Each reader can make his or her own decision as to whether America and its "leadership" will
have the strength to face the truth, or not. If they do not, then we will soon enter a period of
personal and financial survivalism. If you believe that the nation will not face reality, then you
must immediately begin to put your affairs in order. Those who think ahead will be able to
survive the whirlwind denial will unleash. But those who stand before that tornado, unprepared,
have poor and more likely tragic prospects. The odds that you, the reader of this article, will find
a way to prevail are good. But unfortunately for your fellow citizens, you are in a small minority.
You are distinguished by courage, thoughtfulness, an ability to face facts, resourcefulness, and
a genuine concern not just for yourself, but for all who are dear to you. Those virtues were
required to read this difficult article. Those same virtues will save you as the flag of the future
unfurls.
July 10, 2009
**********
Stewart Dougherty is a specialist in inferential analysis, the practice of identifying patterns and
trends from specific, contemporary events, and then extrapolating their likely effects upon the
future. Dougherty was educated at Tufts University (B.A.) and Harvard Business School (MBA
and an academic Fellow). He can be reached at: trident888@cs.com. He is not affiliated with or
compensated by those he references or recommends. This article may be shared by the reader
as the reader desires, as long as the article remains unchanged and the author is
acknowledged. Copyright 2009 by Stewart Dougherty, with all rights reserved.
*****

Mr. Chapman:
If you will allow me, an ordinary modest American, to make some comments on an
essay from a recent International Forecaster newsletter, I would be appreciative.
In your June 20th issue, as usual, there were several interesting and informative
narratives and commentaries of the “From a Fellow Subscriber” sections.
I was particularly struck with the essay beginning with “The United States has entered
the third and final stage….”
I was puzzled at the writer’s choices for the stages and his/her time period
designations of these stages.
He/she virtually ignores the Old Republic era, aka the ante bellum, pre Civil War
period, which includes the Revolutionary War, as being of any significance. This
period is not even designated as a “stage” but is merely referred to as “ a marginal
nation of settlers, explorers, farmers, entrepreneurs, and religious refugees to become
the world’s richest and most powerful….” (My underscore) ‘Marginal?
25
But I should have not been surprised at this description. The initial stage was
comprised of the land, the rural regions, the farmers, you know, the food producers,
both large and small, the towns, and with the wise constitutional balance where neither
rural nor urban dominated the other.
Alas, this foundational period is currently, and truthfully, over much of the last century,
described by mainstream sources and institutions as an era and philosophical mindset
to be virtually ignored and frowned upon, and even some alternative media will rarely
mention, or as Orwell would phrase it as ‘to be pushed down the memory hole.’
(Funny, that practice is reminiscent of the line by which the Bolsheviks and their
successors forced Russia to regard her past. But as you know, Lenin described it very
well.)
Then came disruptive measures of special interests that destroyed this delicate
balance of political strength and mutual respect, such as the Morrill Act, which had
been preceded by the largely censored and totally misunderstood South Carolina
nullification efforts. Morrill was a New Hampshire steel manufacturer who desired
legislation that would benefits his business. Measures and special interests that, as
forewarned, did result with the agrarian southern states, and subsequently, the west
being reduced to the status of mere economic satellites of rich northern interests; in
truth, the Morrill Tariff would have economically wrecked the South. The cry “States
Rights!” had nothing to do with the institution of slavery, but newspeak, lying
propagandists for the victors rewrote history. And of course, the victors in a war always
demonize the losing side.
The Bill of Rights also suffered during the ‘second war for independence‘, which was
lost. Consider the actions, attitude, and statements of many Lincoln administration
officials. From very good sources, such as,
Excerpts from author and general editor, John J. Dwyer’s The War Between the
States--America’s Uncivil War.
“The Lincoln Administration expressed great concern over Northerners who did not
exhibit what it considered sufficient loyalty, or sufficiently enthusiastic loyalty, to the
Union and its war effort. After suspending the constitutionally guaranteed writ of
habeas corpus early in the War, the President and his lieutenants shut down over 300
Northern newspapers in the course of the struggle, throwing many of their editors and
publishers in jail or prison without trials and often without charges. Approximately
14,000 other Northern citizens met the same fate.”
“Only one of numberless examples was that of Dennis A. Mahoney, editor of the
Dubuque (Iowa) Herald newspaper. He was taken from his home in the middle of the
night and freighted across the country to Washington’s Old Capitol Prison. His
offense? The Lincoln Administration considered him disloyal because he had
challenged the Constitutionality of some their actions in his newspaper.”
Consider the following remarks and attitudes of top Lincoln officials:
“I can touch a bell on my right hand, and order the arrest of a citizen of Ohio [Clement
Vallandigham]. I can touch the bell again, and order the imprisonment of a citizen in
New York: and no power on earth, except that of the President, can release them.
26
Can the Queen of England do so much?” -- Secretary of State William Seward
“If I tap that little bell, I can send you to a place where you will never hear the dogs
bark.” -- Secretary of War Edwin Stanton
And as you know, I believe it was Mr. Stanton who boasted,
“States Rights died at Appomattox.”
Yes, many in that administration knew what they had done. The delicate balance of
power between local, state and federal jurisdictions had been severely damaged, if
not, done away with.
These are a just a few examples, for the sake of brevity, of the severe damage
sustained by the Constitution and Bill of Rights during the Civil War and afterwards.
This breakdown continued in the late 19th century and early 20th century with
additions to the original Constitution, as you know. The delicate balance of power
initiated by our Founders was deteriorated, if not abandoned, by the tremendous
growth of the Federal bureaucracy, increasing military aggression, the growth of towns
and cities, particularly the financial sector, which subsequently devoured more and
more of the country’s wealth. The rural regions and small towns grew poorer as the
large cities absorbed the lifeblood, the money and talent, from the provincial areas.
Constitutional apportionment was soon out the window certainly by the early 20th
century.
And our troubles were only beginning. The Old Republic was soon replaced by an
unstable, warlike, buttinsky, polyglot democracy, mobocracy, which as you know, is
now being replaced by a tyrannical, destructive dictatorship of global proportions.
Thank you for your time.
*****

Hi Bob—I do not know this—but Goldman might have been given Promise software by
the US gov't, which means that every other trading platform was 100% transparent to
Goldman in real time—they would be able to see everyone buy and sell orders in “real
time” as they traveled across computer networks between brokers-stock exchanges—
and even between individual customers—rumor has it that Promise software can hack
and read everyone’s numbered bank accounts in places like Switzerland and the
Caymans—as per your reporting they made billions—because they could read
everyone else’s cards in the casino as they held them in their hands—this is a
quantum leap beyond just plunge protection-type intervention scams by the fed and
treasury—Promise software cannot be bought commercially—and if it has been stolen
or it’s source code has been stolen or copied from Goldman—then there will be a
black market for it—and Goldman—the Fed—the
Treasury—and all the intelligence agencies world wide can be spied on cart blanche—
by anyone who has a copy of Promise software—it was originally stolen by lawyer
criminal Ed Meese on behalf of the US gov't—from the original owners and original
developers—so
27
What goes around comes around—I do not know any of the above—but as a computer
guy if I had to guess my guess is what I wrote above—if Goldman reads any or all of
the above they will freak—since the criminal advantage they had being the only one
using Promise software to rip off the whole planet is “PRICELESS”—also if the named
perpetrator was given bail by the judge—it will be very difficult for Goldman to prove a
dollar loss for software they got for “free” and which they were using to give
themselves a criminal advantage over everyone else—the guy who did it might walk.
PS—all grey market satellite dishes are down indefinitely in North America—Mexican-
Caribbean-Central America—the sat companies are changing their encryption from
nagra 2 to nagra 3—they are now in transition some channels are on the old nagra 2
encryption and some channels have migrated to nagra 3—the sat companies—Rupert
Murdoch have hired the guy who hacked their nagra 2 encryption system—which it is
rumored he was able to do in less than 2 weeks—this is the guy that they are rumored
to have paid a 7 figure sum—to design their nagra 3 encryption system—so if I was
going to bet money—I would say that all the sat receivers that were running on nagra 2
are now all paper weights—indefinitely.
PS-in case you have not seen it yet a guy in Florida, Ross Mandel age 52-a co-
religionist of Bernie Madoff has ripped of clients for $150 mil--another guy down under
Simon Feldman age 42--also a co-religionist took Aussie investors for $160 million.
*****
COMMODITIES
Crude oil inventories fell 2.9 m/b, gas rose 1.9 m/b and distillates rose 3.74
m/b. The EIA reports natural gas inventories up 75 bcf.
The half-wit pedophile known as British PM Gordon Brown at the G-8

conference will try to win support for new international market rules to ban speculative
trading in oil, which he and France’s President Sarkozy are fully behind. Mussolini
would be proud of both of them.
GOLD, SILVER. PLATINUM AND PALLADIUM

The volume of mining production in South Africa fell 14.5% on the year in May,
official data released Thursday showed.
The slump follows a 10.6% decline the month before.
Gold output fell by 10.5% on the year, and production of other minerals
dropped by 15.1%, Statistics South Africa said.
Mineral production between March and May was down 9.8% on the same
period last year, with weaker output of platinum group metals the main contributor, the
statistics agency's data showed.
Mineral sales for April, the most recent figure available, were 19.4% down on a
year earlier at 20.56 billion rand ($2.5 billion), as a 23.8% fall in the value of non-gold
sales offset a 6.5% rise in gold sales, Statistics SA said.
Wednesday was not a good day for gold and silver, as our government spent
the last four days making sure they were non-entities. Spot gold fell $20.10 to $909.00,
as August traded $0.40 lower. Spot silver fell $0.39 to $12.84, as the outside contract
traded $0.05 higher. Gold open interest fell 1,632 contracts to 372,985, as silver OI fell
619. The HUI fell 14.35 to 312.98 and the XAU fell 4.21 to 129.30.
28
The ECB indicated a 5-million euro sale of gold or 0.23 tons by one central
bank last week.
The yen rose .0283 to $.9239; the euro fell .0093 to $1.3843; the pound fell
.0144 to $1.6014; the Swiss franc fell .0043 to $1.0924; the Canadian dollar fell .0048
to $.8540 and the dollar index, USDX, fell .05 to 80.66.
Oil fell again, off $2.75 to $60.17. It has fallen for 7 of 8 days from $70.32. This
is certainly not normal. It stinks of government interference. Gasoline has fallen from
1.90 to yesterday’s $1.64, off $0.09 and natural gas fell $0.01 to $3.64. Copper fell
$0.05 to $2.17; platinum fell $35.60 to $1,100, and palladium fell $6.50 to $234.00.
The CRB fell 5.34 to 231.21.
Thursday was somewhat of a disappointment. Spot gold rose $6.90 to $915.90
and the August month was about the same. Gold rose $9.50 and was weaker in the
thin access market as a result of government selling. Spot silver closed at $12.92, up
$0.08, but it closed $0.14 lower in September. As a result the shares gave up most of
the gains of earlier in the day. As a result the HUI rose 1.32 to 314.30 and the XAU
rose .99 to 130.24. In just 6 weeks gold has been taken down from $980 and silver
from $16.00. Gold open interest rose 1,058 to 374,043, as silver OI rose 515 to
100,981.
The yen was unchanged at $.9239; the euro rose .0201 to $1.4040; the pound
fell .0154 to $1.6014; the Swiss franc fell .0046 to $1.0924; the Canadian dollar fell
.0078 to $.8618 and the dollar index fell .15 to 79.93.
Oil rose $0.24 to $60.41; gas rose $0.02 to $1.66 and natural gas fell $0.23 to
$3.41. Copper was $2.24, up $0.07; platinum was 1,100.50 up $.50 and palladium
rose $1.75 to $235.75. The CRB was 234.53, up 3.32.
Friday was as we expected it to be, it was a flat day. Spot gold fell $3.50, as
the August month was off $3.40. Silver fell $0.30 to $12.62 as JPM again slammed
silver. The September contract fell $0.27, a little less. As the University of Michigan
Confidence Index fell from 70.8 to 64.6 the market and the dollar rallied and gold fell
$10.00, exactly the opposite of what they should have done. That is your Orwellian
government at work. Gold open interest fell 7,134 contracts to 366,909, as silver OI
dropped 2,082 to 98,809. Lots of room on the upside. The COT commercials reduced
shorts by a net 6,511 contracts. The HUI fell .41 to 313.49 and the XAU fell .30 to
129.99. AEM fell 0.49%, or $0.24 to $49.11; GG rose 0.03%, or $0.01 to $32.99; SSRI
fell 2.98%, or $0.52 to $16.94 and MFN fell 0.97%, or $0.07 to $7.16.
In the first six months of the year the US Mint sold 680,500 one-ounce
American Eagle gold bullion coins, up from 180,000 yoy.
The yen rose .0081 to $.9231; the euro fell .0088 to $1.3956; the pound fell
.0171 to $1.6194; the Swiss franc fell .0062 to $1.0838; the Canadian dollar fell .0017
to $.8601 and the dollar index, the USDX rose .45 to 80.32.
Oil fell again, off $0.66 to $59.75; gas fell $0.01 to $1.64 and natural gas fell $0.01 to
l$3.38. Copper fell $0.02 to $2.22; platinum fell $1.50 to $1,100.00 and palladium fell
$0.20 to $235.45. The CRB Index fell 1.02 to 233.51.
*****
Catching The Gold Bug
http://online.wsj.com/article/SB10001424052970203577304574275953355412882.htm
l
*****
Gold, the U.S. Dollar, and the Chinese Yuan
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=11928
*****
29
Industry worries haste could hurt CFTC reform
http://www.reuters.com/article/ousiv/idUSN1052575320090710
*****
DISCOUNT GOLD & SILVER TRADING

1800 375 4188
For the best in pricing and service for gold and silver coins, call Melody at 1-800-
375-4188. Be sure to listen to DGSTC with Bob Chapman live on Short-wave
7.415Mhz M-F 4:00PM ET, Replays Tuesday thru Friday 8pm RT 7.465Mhz
3.215 MHz M-F 11PM ET and weekly archives at
discountgoldandsilvertrading.net
The Undefined Dollar
If you pick up a paper $50 bill in your left hand, you’ll see a picture of President Grant
in the center and text along the bottom of the bill that reads, “FIFTY DOLLARS”. If you
simultaneously pick up a recently-minted one-ounce “Gold Eagle” in your right hand,
you’ll see an inscription on the coin that reads, “1 OZ. FINE GOLD – 50 DOLLARS”.
Both the paper $50 bill and the gold $50 coin are declared by law to be “legal tender”.
Both are apparently worth “$50”. But it currently takes about twenty of the paper
“FIFTY DOLLAR” bills to purchase one “50 DOLLAR” gold coin.
So, here’s the $50 question: What, exactly, is a “dollar”?
Answer: Nobody really knows because the modern dollar is undefined.
And therein lies the foundation for our current economic predicament.
The UK Telegraph recently published an article by Edmund Conway entitled “Is this
the death of the dollar?” In that article, Mr. Conway wrote:
“When US Treasury Secretary Tim Geithner tried to insist at a university

lecture in Beijing in June that "Chinese financial assets [US bonds
denominated in dollars] are very safe," he drew floods of laughter from the
audience. He wasn't playing for laughs, but the irony of the situation is plain to
see. If there were a textbook list of actions one could take to weaken a
currency, the US (alongside most other developed nations) would be following
it to the letter.”
The gov-co’s object is not to “weaken the dollar,” per se. Such “weakening” will
take place, but as a means rather than an object. I.e., it doesn’t really matter much if
inflation causes the current price of gasoline doubles from $2.50/gallon to $5.00/gallon
if wages simultaneously double from $20/hour to $40/hour.
In fact, there’s no fundamental reason why our undefined “dollar” (now worth 3
cents as compared to 100 cents 70 years ago) couldn’t fall in value to 0.3 of a cent or
even 0.003 of a cent and continue to function. Why? Because the modern dollar is
undefined. What’s the difference between 0.3% and 0.003% of a “dollar” if the “dollar”
has fixed definition and meaning? The differences are only relative; they have no
tangible meaning or objective consequence.
If government caused 100% inflation, it would cause prices and wages to
simultaneously increase by 50%. So long as both prices and wages increased
uniformly, there’d be little adverse effect on the average American.
But—the same 100% inflation would be ruinous to existing debts and existing
paper “assets” (promises to pay). For example, suppose I loaned $100,000 to Bob
30
when gas was $2.50 and Bob gave me a promissory note promising to repay
$100,000. And suppose that before the note was due, we suffered 100% inflation.
Then Bob would indeed repay me “$100,000,” but the 100% inflation would wipe out
50% of the purchasing power of the $100,000 that I’d loaned. Thus, by means of
inflation, Bob’s existing debt would be largely repudiated and I would have lost 50% of
the purchasing power of my paper “asset”.
Given that our current, total American debt is too great to ever be repaid in full,
it’s a virtual certainty that the object of inflation is to repudiate much of the existing debt
rather than “weaken” the dollar.
Mr. Conway also wrote:
“Like everything else, the currency's fate depends on how well the US
authorities manage the crisis.”
Exactly. The dollar is not about a measure of value; it’s about management
and even manipulation of public confidence. If public confidence can be sustained, the
dollar lives. If public confidence is lost, the dollar dies. The purchasing power of our
dollar is primarily based on psychology rather than tangible and objective reality.
Paper, irredeemable, fiat currency is nothing more than a measure of public
confidence; public psychology. The public will maintain confidence in the fiat
currency/psychology so long as the purchasing power of the currency doesn’t change
too rapidly. In other words, the problem is not the total amount of inflation but rather
the rate at which the purchasing power of the dollar changes.
For example, over the past 70 years, the dollar lost 97% of its purchasing
power. But who noticed? Almost no one. More, despite a 97% loss, the dollar seems
more or less alive and well. But what if the dollar lost 97% of its purchasing power in
just one year? The public would scream, lose confidence in the dollar, and the dollar
would die. Cumulative inflation won’t kill the dollar—but a hyperinflationary rate of
inflation just might.
Mr. Conway:
“Rather like the brinksmanship on display throughout the Cold War,
China’s problem with an overload of dollars is a dilemma which applies itself to
game theory. . . . If you are the Chinese it is in your interest to play the
game—you've got a lot of dollars at stake—but in the long run you surely want
to reduce your holdings and diversify them at the margins.”
In other words, by “saving” over $1 trillion of our undefined dollars, China found
itself in a “dollar trap”. China knows the dollars are fundamentally worthless. China
knows that the dollar will be inevitably recognized by the world as intrinsically
worthless. So China would very much like to dump its $1 trillion.
But China also knows that if they try to dump their $1 trillion, the will cause
“confidence” in the dollar to fall faster than China can get rid of its dollars and thereby
cause the value of dollars to plummet dramatically. Suppose China’s attempt to dump
dollars caused the relative value of the dollar to fall by 50%. China’s $1 trillion would
suddenly be worth only $500 billion.
China is caught in a “dollar trap” wherein they’re “darned” if they do and
“darned” if they don’t. If they keep the dollars, they lose. If they dump the dollars, they
lose. What a predicament, hmm? But it’s China’s own fault. They were dumb
enough to take undefined dollars in payment for their exports. Soon, they’ll have to
pay the price for that stupidity and greed.
More, Mr. Conway’s reference to “game theory” to describe China’s
predicament is also a perfect analogy for modern economics since the modern dollar
31
has no more tangible value than Monopoly money. The whole system is nothing but a
“game”—and a “con-game,” at that.
The “world's reserve currency” is the standard against which all other
currencies and major commodities are denominated and defined. It is the de facto
international unit of account in trade and finance. The world’s major currencies are
currently denominated/defined against the dollar—but the dollar has no definition. This
lack of definition creates a kind of madness. To illustrate the problem, suppose you
asked someone how far it is to New York City and they answered “40 gorks”.
“Uhh, OK—but how long is a ‘gork’?”

“Umm—it’s exactly ten ‘deci-gorks”.”
“OK. OK. . . . so how long is a ‘deci-gork’?”
“Well, it’s one-tenth of a ‘gork,’ silly. Didn’t they teach you any new
math at public school?”
You can see that measuring a distance with a unit of measure that has no fixed
definition is futile, frustrating and maddening. The same is true with money and even
an economy measured in undefined “dollars”.
Today, there’s no fundamental monetary reality other than rates of relative
change. In the same sense (Mr. Silly) that a “deci-gork” is one-tenth of a “gork,” the
whole monetary system is “relative”; it has no fixed tangible reality. The English pound
is always falling. So is the Japanese yen. But they are falling relative to the dollar
which, presumably, is also “falling”—but who can say for sure, since the dollar has no
tangible definition? Without tangible definition and fixed point of reference, what is up,
down or sideways? Without definition, how can the rise or fall of the dollar’s
purchasing power be accurately measured relative to other currencies which also have
no fixed definition?
The problem of “valuing” a currency is not whether the purchasing power of any
currency is falling—they’re all constantly and intentionally falling. The problem is
discovering whether a particular currency is falling (or rising) much faster than the
other currencies. As a result, the entire global financial system has become
undefined, un-measurable, and as irrational as a Monopoly game where each player
starts with $100 trillion and gets $200 trillion every time he passes Go.
Without a tangible foundation based on some fixed definition, every economy
measured in dollars has become as surreal as a painting by Salvador Dali. It may be
true that the U.S. Gross Domestic Product (GDP) is up from $12 trillion to $13 trillion,
but what does that information mean so long as the dollar is undefined?
Look! Up in the sky! Is it a bird? Is it a plane? Nope. It’s about $1 quadrillion
in total world debt that has somehow been spawned by a world whose annual GDP is
only about $55 trillion per year. How can the whole world be in debt for 20 times the
world’s annual gross? In a rational world, you’re more likely to see a squadron of
UFOs land in your back yard than $1 quadrillion in debt. But, so long as the dollar is
undefined, we don’t live in a rational world. Without definition, reason is impossible.
At bottom, the creation of $1 quadrillion in debt must be based on the
undefined dollar. So long as the dollar remains undefined, what’s the difference
between $1 quadrillion, $1 trillion, or $1 billion—except some zeroes and commas?
None of it finally makes sense—except as nonsense to impress and beguile the
yokels. Result? All economics becomes irrational, unreasonable and based on “public
confidence” rather than substance.
32
The undefined dollar is part of the reason that economic statistics are routinely
fabricated. But “fabricated” economic statistics aren’t really lies since, without a
defined dollar, there is no truth.
Of course, the government fabricates economic statistics. Given that the
economy is based on our collective “psychology” rather than objective reality,
government is essentially obligated to deceive the great unwashed into believing that
the “economy” is strong or stable or at least not falling like a stone. If the only reality is
public psychology, why shouldn’t gov-co lie to support that psychology?
But in the end, it is the human instinct to seek meaning, value, rationality and
stability that will compel the world to return to a gold-based monetary system. (How
can there be “stability” without fixed definitions? What’s the difference between a GDP
of $10 trillion, $20 trillion and $100 trillion if the dollar is undefined?) I very much doubt
that we, as rational men and women, can long endure the irrationality of a world where
it takes twenty $50 bills to purchase one $50 Gold Eagle.
Which brings us back to gold (or maybe silver, or platinum or even crude oil).
Sooner or later we will abandon the paper, fiat dollar—if only to escape the mind-
numbing questions raised by an undefined dollar. Sooner or later, we will define
dollars (or whatever currency replaces dollars) in terms of some fixed, physical mass
of some thing. That something will almost certainly be gold. The system may try a few
other alternative “definitions” for dollars, but in the end the only rational definition for
money for most of 5,000 years has been a particular mass of gold, and inevitably, our
money will again be defined in terms of gold.
The modern “dollar” will die. Not because it’s been “weakened” by inflation, but
because it is undefined and therefore irrational, unreasonable and conducive to
madness.
Buckle up.
email us at: discountgoldandsilver@yahoo.com

Discount Gold & Silver Trading Co. provides all forms of precious metals
including gold, silver platinum and palladium whether you are buying or selling.
Our inventory includes but not limited to the American Gold, Silver, Platinum
Eagle and numismatic products including rare, investment and circulated coins.
Silver dollars, silver bars, rounds are on hand for the silver investor. Foreign
gold is also available. Call for information regarding your precious metal gold
and silver IRA. 1 800 375 4188
CANADA
Housing starts rise in June to 140.7K.
Canadian increases its International Merchandise Trade deficit to 1.42B
New Housing Price declines 0.1% in May, unemployment rate rose 8.6%, less than
expected.
EUROPE
Ireland will hold a second vote on the European Union’s new governing treaty
on Oct. 2 after the government secured guarantees from the EU on issues such as
neutrality, taxes and ethics, Prime Minister Brian Cowen said.
Irish voters rejected the Lisbon treaty in a June 2008 referendum, jeopardizing
the EU’s plans to deepen economic integration and broaden its global profile. All EU
member states must give their backing to the revamp.
33
“A ‘yes’ vote puts us at the heart of Europe, a ‘no’ vote does marginalize us and
put us at the periphery,” Foreign Minister Micheal Martin told reporters in Dublin
today after Cowen announced the date of the second vote in parliament.
A June 5 opinion poll by Lansdowne Market Research for Irish state
broadcaster RTE showed that 54 percent of the country’s voters now favor the treaty
and 28 percent oppose it.
Spain is planning to extend benefits paid to the country's growing legions of
unemployed as part of a government-brokered labor market reform agreement
between employers and unions, Finance Minister Elena Salgado said Wednesday.
"It [the agreement] will include the extension of benefits, a new type of benefit
linked to training programs," Salgado told journalists on the sidelines of a conference.
Salgado said she thought employers and unions will reach a labor market reform
agreement this month or next, but couldn't say what other provisions it would include.
Employers have been pushing to lower their payments into the country's social
security system as well as to reduce the high redundancy costs they pay, but unions
are adamantly opposed to such changes.
Spain had an 18.7% unemployment rate in May, nearly twice the 9.5% rate for
the wider euro zone.
Germany May Industrial Production up 3.7% MoM, down 17.9% YoY.
EU First Quarter GDP falls 2.5% QoQ and 4.9% YoY.
German corporate insolvencies rose 7.1% in April, compared with the same
period last year, Germany's Federal Statistics Office said Wednesday.
However, an accurate comparison with all the German states isn't possible due
to incorrect statistics filed in 2008 by the the state of Nord-Rhine Westphalia. Statistics
for this state aren't included.
A total of 2,979 companies filed for insolvency in April, compared with 2,781 in
April 2008, according to statistics office data. From January to April 2009, corporate
insolvencies rose 12.1% to 10,691, compared with the corresponding period last year.
In April, household or consumer insolvencies fell 5.7% to 8,251 compared with the
previous year. In the year to the end of April, household insolvencies fell 3.7% to
32,357. Total insolvencies in April, including those from businesses, consumers and
formerly self-employed, fell 3.4% to 13,676 and from January to April insolvencies fell
0.6% to 52,680.
Switzerland June Unemployment Rate s.a. up to 3.8% vs 3.5%.
Ireland's consumer price index fell more than expected in June, dropping 5.4%
on the year and 0.3% on the month, mainly due to lower mortgage costs, the Central
Statistics Office said Thursday.
The CPI was expected to fall 5.0% on the year and remain unchanged on the
month in June, according to a Dow Jones Newswires survey of five economists. In
May, CPI fell 4.7% on the year and dipped 0.5% on the month.
However, excluding mortgage costs, Ireland's CPI fell only 1.6% on the year in
June.
Clothing and footwear costs fell 12.2% on the year in June, while petrol prices
rose 5.1% on the month, but fell 11.5% on the year, while diesel rose 2.3% on the
month, but plummeted 27% on the year.
The Netherlands' annual inflation rate dropped to 1.4% in June, from 1.6% a month
earlier, the Dutch Central Bureau for Statistics said Thursday.
Russia's gold and foreign exchange reserves fell by $1.4 billion to $409.1
billion in the week to July 3, the central bank said Thursday.
The drop follows a $3.4 billion rise recorded in the previous week.
Germany June CPI up 0.4% mom and 0.1% yoy.
34
French President Nicolas Sarkozy called for a revamp of the global currency
system, saying Thursday that the dollar's supremacy is outdated.
Russian President Dmitry Medvedev illustrated his call for a supranational
currency to replace the dollar by pulling from his pocket a sample coin of a “united
future world currency.”
“Here it is,” Medvedev told reporters today in L’Aquila, Italy, after a summit of
the Group of Eight nations. “You can see it and touch it.”
The coin, which bears the words “unity in diversity,” was minted in Belgium and
presented to the heads of G-8 delegations, Medvedev said.
The question of a supranational currency “concerns everyone now, even the
mints,” Medvedev said. The test coin “means they’re getting ready. I think it’s a good
sign that we understand how interdependent we are.”
Medvedev has repeatedly called for creating a mix of regional reserve
currencies as part of the drive to address the global financial crisis, while questioning
the U.S. dollar’s future as a global reserve currency. Russia’s proposals for the G-20
meeting in London in April included the creation of a supranational currency.
The annual decline in Spanish consumer prices continued to accelerate
in June due to slack demand in a deep recession, data from Spain's National Statistics
Institute, or INE, showed Friday.
Spain's June consumer price index fell by 1% on the year but was up 0.4% on
the month, the INE said in a statement. The monthly increase was due to a spike in
fuel and tobacco prices ahead of tax increases effective July 1.
On a European Union-harmonized basis, Spanish consumer prices fell 1% on
the year in June, matching the estimate the INE gave June 29.
June fuel and energy prices showed the biggest year-on-year declines, falling
by 21% and by 14%, respectively, due to a sharp fall in international oil prices over the
same period.
Stripping out volatile oil and fresh food prices, underlying Spanish consumer
prices increased year-on-year, though they continued to ease as unemployment
spirals higher and consumers rein in spending.
Annual underlying inflation was 0.8% in June, down from 0.9% in May.
"We expect this downward trend to gain even more momentum in July and August,"
BNP Paribas economist Luigi Speranza said in a note to investors, adding he expects
bigger-than-usual discounts during the summer retail sales season and a slack
summer tourism campaign.
In May, Spanish CPI fell by 0.9% on the year and was flat on the month.
Spanish consumer prices have been posting annual rates of decline since March.
For the wider euro zone, consumer prices fell by an 0.1% annual rate, acording to the
flash estimate, the first fall since records began in January, 1997.
The annual decline in Spanish consumer prices continued to accelerate in June
due to lower energy prices and a sharp drop in economic activity, data from Spain's
National Statistics Institute, or INE, showed Friday.
Spain's June consumer price index fell by 1% on the year but was up 0.4% on
the month, the INE said in a statement. In May, Spanish CPI fell by 0.9% on the year
and was flat on the month.
Stripping out volatile oil and fresh food prices, underlying Spanish inflation was
0.8% in June, down from 0.9% in May.
On a European Union-harmonized basis, Spanish consumer prices fell 1% on
the year in June, matching the estimate the INE gave June 29
Danish annual inflation continues to decline, data showed Friday.
35
The year-on-year rate for the European Union-harmonized index of consumer
prices fell in June to 0.9% from 1.1% in May, while the monthly rate for June was
0.2%.
France's current account deficit narrowed in May from April due to an increase
in the services surplus and revenue, data published Friday by the Bank of France
showed.
The current account deficit totaled EUR2.2 billion in May, compared with a revised
EUR3.5 billion in April, which had been initially estimated at EUR3.1 billion.
In May, the goods balance deficit narrowed to EUR3.6 billion from EUR4.4
billion in April, while the services balance surplus increased slightly to EUR1.4 billion
from a revised EUR1 billion a month earlier, previously estimated at EUR1.1 billion.
Revenue in May increased to EUR2.2 billion from a revised EUR2.1 billion a month
earlier, previously estimated at EUR2.2 billion, the central bank said.
Foreign direct investment in France during May increased to EUR12.6 billion
from EUR3.7 billion in April, while the direct investment deficit narrowed to EUR3.1
billion from EUR5.7 billion a year earlier.
German Wholesale Price Index rises 0.9% in June; falls 8.8% YoY.
Italian industrial output in May slowed on the month-earlier period, as
production of investment and durable goods slipped, after rising for the first time in a
year, Italian statistics office Istat said Friday.
Industrial production was flat on the month compared to an upwardly revised
on-month rise of 1.2% in April. When adjusted seasonally and for the number of
working days, industrial production fell 19.8% on the year-earlier period, compared
with a downwardly revised annual fall of 24.3% in April.
*****
"We need to ask the question: shouldn't a world that is politically multi-polar
correspond to a multi-monetary world economically?" The said in a news conference
during a summit of world leaders in L'Aquila, Italy.
Sarkozy compared an overhaul of the global currency system to the enlargement of
the Group of Eight structure to encompass fast-growing emerging economies, which
were invited to join the Italian summit.
He said the supremacy of the dollar belongs to the post-Second World War era when
America was the predominant world power both economically and politically.
"Even if it's a difficult topic, I hope that in the coming months we will talk about
currencies and the international monetary system," he said. "There has to be a
debate."
Leaders of rich and developing nations agreed not to resort to currency devaluation to
gain a competitive advantage, but -- with the absence of the Chinese President Hu
Jintao, who returned home to deal with violence in western Xinjiang -- the final
statement didn't mention the dollar's status as the world's reserve currency.
"We will refrain from competitive devaluations of our currencies and promote a stable
and well-functioning international monetary system," said the leaders of the G-8
industrialized nations, together with Brazil, China, India, Mexico, South Africa and
Egypt.
One of the reasons often cited as to why the 1930s Great Depression lasted so long
36
was that countries acted independently to protect their own interest by undermining
their currencies. A cheaper currency boosts exports.
Christine Lagarde, France's finance minister, was particularly vocal earlier this year
about how Britain was gaining an advantage by doing nothing to stem the sharp fall in
the pound against the euro.
Though the dollar was not mentioned in the declaration, its future as the world's
reserve currency is likely to remain a topic for debate over the coming months or
years, as China, Russia and India have expressed their desire to see long-term
changes in the international monetary system.
But they have been careful to not push their desire for change too far -- in case the
dollar slumps and the value of their large dollar-denominated investments plummet.
China said its officials raised the issue in Italy at a working lunch on Thursday lunch,
but British Prime Minister Gordon Brown said he it was not on the formal agenda.
"There was not a serious discussion about this," Brown told reporters. "In this present
situation as we're trying to get out of a deep recession, I don't want to give the
impression that there's some major change about to happen round the corner that
suggests that the present arrangements are destabilized."
White House press secretary Robert Gibbs said that the dollar was not brought up in
bilateral talks on Thursday with U.S. President Barack Obama and Brazil President
Luiz Inacio Lula da Silva, despite a lengthy conversation on the economy.
"I think that despite whatever talk you might hear, I don't see that there's any
movement away from the notion of the dollar being that currency," Gibbs told
reporters.
A sliding dollar would be bad for global growth as it introduces uncertainty into the
financial markets and would raise the prices of commodities, such as oil, that are
priced in dollars. It would also make it far more difficult for the U.S. to fund its deficits
as investors would be wary of buying up U.S. Treasury debt.
AP reporters Charles Babington and Jane Wardell in L'Aquila and Michael Bushnell in
London contributed to this report.
http://www.businessweek.com/ap/finan.../D99B5IQ80.htm
*****
ENGLAND
House prices fell in June although the annual decline continued to ease, lender
Lloyds Banking Group said Wednesday.
According to HBOS, now owned by Lloyds, the Halifax house price index
declined 0.5% from May and was 15.0% lower than a year earlier. That compares with
a 2.6% month-on-month rise in May and a drop of 16.3% on the year.
Jewish schools are guilty of racial discrimination if they reject children on the
grounds of their parentage, a British court has ruled.
37
In a decision that has shocked the country’s 300,000-strong Jewish community,
the Court of Appeal held that ongoing personal acts of faith, rather than birth or
conversion, must define who is a Jew.
In doing so, the court overturned an earlier high court judgment upholding the
decision of the JFS in London (the oldest and largest Jewish school in Britain) to deny
a boy admission because it did not recognize his mother’s conversion.
The three judges, one of them Jewish, ruled that any selection criteria that
gives ethnic priority to a Jew is showing racial discrimination. They cited the Race
Relations Act 1976, which was introduced to prevent discrimination on the grounds of
race.
The ruling means that Jewish schools of any denomination, whether privately
or state funded, will be barred from giving priority to children who are born Jewish or
who convert, and instead must consider how the children and their families practice
their Judaism.
The move throws into disarray the admissions arrangements for Britain’s 97
Orthodox schools and may force them to introduce “faith tests” — like church schools,
which require fortnightly attendance at Sunday services. Such a radical intervention —
unprecedented since the time of Oliver Cromwell — calls into question the relationship
between church (or synagogue) and state.
The United Synagogue, the denominationto which JFS belongs, already has
spent almost $250,000 in legal costs to fight the case, and is now planning a challenge
at the highest court in the land, the House of Lords.
The boy’s mother had converted under the auspices of an independent
progressive synagogue but JFS rejected his application in line with its admissions
policy, which prioritizes children recognized as Jewish by the Office of the Chief Rabbi.
Despite representing its largest religious Jewish denomination — the Modern Orthodox
United Synagogue — the Chief Rabbi is not a religious representative of all British
Jewry. The father of the boy — for legal reasons identified only as Child M —
challenged the school at the high court, claiming the school’s actions had been racist
and illegal. He lost.
But, after two years of legal wrangling, the Court of Appeal found in his favor on
25 June. The judges said: “The motive for discrimination, whether benign or malign,
theological or supremacist, makes it no less and no more unlawful.” They held that it
was lawful to discriminate between Jewish and non-Jewish children on religious
grounds, but not on what they called racial grounds.
Atalia Cadranel, spokeswoman for the Board of Deputies, an elected body
representing all Jews in the United Kingdom, said: “This is a landmark judgment that
has major ramifications for every Jewish school in the U.K. The ruling says that the
school’s actions were ethnically inspired — and in contravention of the Race Relations
Act of 1976. In fact, all Jewish schools base their admissions criteria on religious law
and not ethnic criteria.
“Unless the judgment is overturned, schools admissions will be on the basis of
a faith test.
“It could be dependent on things like shul attendance, but will be determined by
the relevant rabbinic authority of the given school. The concern is that this is a
retrograde step and could end up with families feigning observance in order to secure
school places. Likewise, some families may be denied the chance to give their children
a Jewish education.”
Rabbi Tony Bayfield, head of the Movement for Reform Judaism, strongly
disagrees with the JFS admissions policy but remains opposed the court’s
intervention. He said: “JFS denies Jewish status to converts from Reform, Liberal and
38
Masorti, and we abhor that… But we are also extremely worried about the state
interfering in our right as a Jewish community to define for ourselves who is a Jew.”
Jack Rabinowicz, a Jewish lawyer and expert in education law, said: “It’s the
first time since the resettlement of Jews in this country more than 350 years ago that
the state has intervened in the question of who is a Jew. That’s quite a remarkable
thing.
“Jews have benefited over the last several decades from the Race Relations
Act. You have had Jewish policemen, for example, who have claimed discrimination if
they’re asked to work on Shabbos. The court accepted you can have discrimination on
the basis of faith. The difficulty for schools, old-age homes and other institutions is that
if you have discrimination on the grounds of religious practice, then that’s very much
more difficult. You can a have a Reform Jew who is very careful about their practice
and an Orthodox Jew who is very much more lax.”
Rabinowicz suggests the House of Lords may take the view that the ruling
goes too far in terms of state intervention, and reverse it.
The Liberal movement is the only denomination to welcome the ruling. Rabbi
Danny Rich, chief executive of Liberal Judaism, said: “We have taken the most clear
and outspoken position on this. Judaism is transmitted not by birth, but by identity and
upbringing.” He further noted that it was not proper for a state-funded school to decide
its admissions based on the status of the child’s mother and with reference to only one
British Jewish religious authority.
Joshua Rowe, chair of governors at Manchester’s King David High School, the
largest state-funded Orthodox school outside London, said: “The selection process at
JFS and other denominational schools is based on religion, not race. The test of birth
is a religious test, not a racist one. It is a test utilized to define who is a Jew, and it is a
test which is intended solely to preserve the religious character of the school and the
right to preserve ‘difference.’ To the extent that it might be argued that Judaism is itself
racist (because it defines membership on the basis of birth), the rebuttal must surely lie
in the fact that anyone who is not Jewish by birth is nevertheless entitled to join the
faith.”
JFS itself has issued a brief statement saying it is disappointed and believes
the ruling will undermine its ethos. It said it was still unclear how the ruling would affect
admissions for the new school year in September, but declined to comment further.
Chief Rabbi Sir Jonathan Sacks said: “Ethnicity is irrelevant to Jewish identity,
according to Jewish law. Education has been the crucible of Judaism throughout the
millennia, and the development of Jewish faith schools is one of Anglo Jewry’s
greatest achievements.”
Sharper-than-expected U.K. factory gate price deflation in June signals a
period of below-target consumer price inflation over the coming months, suggesting
the Bank of England still has more work to do.
Output producer prices fell 0.2% on the month in June and by 1.2% on the
year, the Office for National Statistics said Friday. Economists had forecast a 0.3%
monthly increase and a 0.8% annual decline.
That was the first monthly decline since November last year and compared with
a 0.4% rise in May. In annual terms, it was the second straight yearly fall and the
sharpest drop since December 2001 when it also fell 1.2%. ONS said the drop was
last greater in November 2001 when it fell 1.5%. The data compare with a 0.3% fall on
the year in May.
The ONS also said annual producer output price inflation has been slowing for
11 straight months in June from a peak of a 10.8% in May last year.
UK June Input PPI rises 1.5%; collapses 11.0% YoY.
39
*****
CHINA
Domestically made auto sales up 36% yoy.
JAPAN
Japanese consumers became less pessimistic about the nation's economy
over the past three months for the first time in two years, a Bank of Japan survey
released Wednesday showed, adding further evidence to claims that the nation's
economy has hit bottom.
The consumer sentiment diffusion index of the BOJ's household survey of
economic conditions for June came in at minus 81.4, slightly higher than minus 88.9 -
its record low - in the previous survey for March. The latest reading marked the first
improvement since June 2007.
Japan June Corp Bankruptcy Cases Up 21.5% On Year.
Japan's June CGPI fell 6.6% yr/yr, higher than the expected -6.4%. On the
month it was down 0.3%, once again higher than the forecast -0.1%. USDJPY up 5
pips.
MEXICO
Across Mexico, desperation is increasing among the millions of families who
depend on money sent home by relatives in the United States. With many immigrants
out of work because of the recession and stepped-up immigration enforcement, those
money transfers suffered an unprecedented drop in May, falling nearly 20 percent from
a year earlier to $1.9 billion, according to Mexico's central bank.
The consequences have been particularly devastating in rural towns such as
Pacula that are known as "pueblos fantasmas," or ghost towns, because so many men
have left to work in the United States, often illegally.
AUSTRALIA AND NEW ZEALAND

Australia's Department of Employment said Wednesday that its leading
indicator of employment has fallen to a negative 0.788 in July from a negative 0.748 in
June.
That was the 19th consecutive monthly fall, confirming a slowdown in the pace
of employment growth below a downwardly revised long-term trend of 2.1% a year.
The number of housing-finance approvals in Australia rose a seasonally
adjusted 2.2% in May from April, the Ausralian Bureau of Statistics said Wednesday.
An index of consumer sentiment in Australia rose 9.3% in July from June to
reach its highest level since December 2007, as shoppers' spirits were lifted by
government cash handouts, upbeat views on the domestic economy and still-resilient
employment levels.
The index rose to 109.4 points in July in seasonally adjusted terms from 100.1
points in June, compilers Westpac Banking Corp. and the Melbourne Institute said in a
statement.
In annual terms, the consumer sentiment index rose a seasonally adjusted
38.5% in July. In trend terms, the index rose 5.4% from June, contributing to a 25.7%
annual increase.
HEALTH
HOW TO DROP CHOLESTEROL UNDER 200 (PART 1)
40
If you are among the 107 million in the US with cholesterol over 200 you will want to
know how YOU can naturally drop your cholesterol level to under 200 within a year.
Just think of it, no more cholesterol drugs, no more jabs to the arm to analyze your
blood fats, no more time lost with expensive office visits, no more risk to your liver with
toxic drugs and you feel better with less anxiety about heart disease. If the Asians can
have cholesterol levels below 100 because of their diet, so can you.
THE BIG PICTURE

Because of unhealthy lifestyle choices we live with the threat of cardiovascular
collapse, liver failure and other health problems. There are approximately over 98
million Americans with cholesterol levels of 200. Over a third of these individuals (38
million) have levels of 240 or higher placing them in the high risk category. More
women over 45-years-of-age have higher cholesterol levels than men. We are making
the manufacturers of cholesterol drugs wealthy with 30 million prescriptions written
each year at the tune of $20 billion. The number one drug sold ($10 billion) is a statin
drug – Lipitor. Why? The other number one statin drug, Baycol, was taken off the
market due to toxic and deadly effects. Doctors know that lifestyle changes (with no
drugs) will lower cholesterol by at least 40%. So, that would mean if your cholesterol
level was 240 and you made some healthy changes to your diet you could lower your
cholesterol to 144 or lower. The Asians have average blood cholesterol levels of less
than 95 mainly due to their diet, which contains low animal fat.
CHOLESTEROL MUG SHOT

What is cholesterol really? Our villain has a yellow, waxy makeup often described as
fat. It likes to hang around your blood and as it multiplies it deposits itself on the main
arteries flowing through your body. When you get enough cholesterol loitering about it
gangs up to narrow the passages and can even create a road block shortening your
route to heart failure. Of course we are describing the evil twin known as LDL
cholesterol. The trick is to root out the LDL properties while keeping the good, HDL
cholesterol.
SOME STUDIES
Dr. Daniel Steinberg at the University Of California School Of Medicine says there is a
way to slow atherosclerosis by 70% and even reverse it. Medicine likes to do this by
pumping up the HDL cholesterol, which is supposed to help reduce the LDL
cholesterol. It is extremely important to have a healthy liver if you intend to accomplish
this. In order to destroy the bad cholesterol the liver cannot be sick in order to remove
cholesterol toxins. Dr. Steinberg recommends eating foods with antioxidants to prevent
LDL cholesterol.
BEAN POWER
Some of the foods, which can help you accomplish your goal are dried beans (known
as nature’s cheapest fix to reducing cholesterol). According to Dr. James Anderson of
the University Of Kentucky College Of Medicine, by eating a cup of cooked dried
beans each day it helps suppress LDL cholesterol by 20%. How fast will this happen?
About 3 to 4 weeks. What kind of beans? All kinds seem to work; navy, black, pinto,
kidney, lentils, chickpeas and soybeans. Eating beans will also boost up the HDL
cholesterol to help protect you from congested arteries.
WHAT ABOUT OATS?
41
I think everyone has seen the box of Cheerios® and other breakfast cereals stating
that oats help lower cholesterol. Recently the FDA informed manufacturers promoting
oats as a heart aid to cease and desist. There have been over 25 studies on the
healing power of oats. According to Dr. Michael Davidson of cardiology at Rush-
Presbyterian St. Luke Medical Center in Chicago it takes about 1 cup of dried oats to
produce a 16% reduction in LDL cholesterol. How does this work? Dr. Davidson
reports that it is the beta glucans (a fiber) that blocks bad cholesterol production and
helps remove bad cholesterol that is pre-existing in the blood. Of course you don’t
want to eat beans and oats along with your fast food and expect to improve your
cholesterol levels. A healthy lifestyle is required. Also, you will want to get a quality oat
and prepare it correctly or your results will vary. I like to use organic, rolled oats. I add
them to bran muffins or eat it as a cereal. When I prepare oats as a cereal I boil a pot
of water, I add 1 cup of oats, cover and remove from heat. I let the oats soak in the
boiled water for 3 to 4 minutes. Anytime over 5 minutes will make the oats sticky.
Therefore, you just want to tenderize the oats not cook them into a gluey, sticky mess
that will reduce the nutrition and hinder digestion.
THE PERFECT HERB

Is there an herb to help fight bad cholesterol? You betcha! Garlic is awesome and
there have been over 20 studies done on the power of garlic to help fight high
cholesterol. Dr. Robert Lin, chairman of International Health, reports that 3 cloves of
garlic per day helps to reduce cholesterol by 10 to 15%. A controlled study at LTM
Medical College in Bombay showed that 50 subjects reduced their cholesterol by 15%
and improved their blood clot factor by eating 3 cloves of garlic daily. Bastyr College in
Seattle used garlic oil and produced a 7% reduction in cholesterol. What about onion?
Onion is cousin to garlic and Dr. Victor Gurewich of Harvard Medical School reports
that ½ cup of raw onion increases good HDL cholesterol by 30%. The study showed
that raw onions had more benefit than cooked. So, if you pair the garlic and onion
together in your lifestyle you will block the production of bad cholesterol and increase
the good cholesterol.
ANOTHER ALLY
It is always good to have allies. You will want to call on your good ally omega-3 fatty
acid. Fatty fish such as your salmon and mackerel contain the fatty acids you will need
to fight bad cholesterol and improve good cholesterol by 10%. A study done by Dr.
Gary Nelson of the US Dept. of Agriculture Western Human Nutrition Research Center
in CA found that by eating as much as a pound of salmon daily had a dramatic effect in
cholesterol levels in just 20 days. Of course the average person isn’t going to eat a
pound of salmon a day but eating some salmon, or tuna or some herring or sardines
several times a week will provide the omega-3 fatty acids to boost the good HDL
cholesterol to protect your health. If fish doesn’t appeal to you stock up on olive oil to
cut the level of bad cholesterol and boost good cholesterol. Many studies have
discovered that olive oil is superior to corn, soybean, safflower and sunflower oils. Dr.
Steinberg found that olive oil defeats toxic oxidation of the LDL cholesterol and
researchers from Israel agreed. Olive oil will also reduce the negative effects of fatty
foods protecting your arteries from becoming clogged.
PROTECT YOURSELF
Protect yourself with a healthy lifestyle and make sure you cleanse the organs of
toxins twice a year. A liver cleanse will be necessary if cholesterol is a problem and it
is a good preventative measure for all kinds of disease. Before you cleanse the liver it
42
is important to have cleansed the bowel opening up the elimination channel so that the
liver (and gallbladder) can purge toxins and regenerate. Use Milk Thistle herb to help
the liver regenerate quickly and Barberry bark to cleanse the gallbladder. You will also
need fresh citrus and virgin olive oil to do a proper liver and gallbladder cleanse. To
help strengthen the cardiovascular system use herbs designed to balance blood
pressure, help purge the blood of existing cholesterol and plaque and strengthen the
heart muscle. Look for Heart/Cholesterol/BP herb liquid formula and Celtic Sea salt
(will not promote high blood pressure) at Apothecary Herbs. For more information on
organ cleansing and the tools you will need call the experts in organ cleansing, call
Apothecary Herbs 866-229-3663, International 704-875-8010 online
http://www.thepowerherbs.com.
EMERGENCY ALERT!!
The WHO has upgraded their pandemic alert for the swine/bird flu to level 6. If you
haven’t gotten your Pandemic Kit from Apothecary Herbs now is the time.
UPGRADED PANDEMIC KIT – Call Apothecary Herbs 866-229-3663, International
704-875-8010 or http://www.thepowerherbs.com each kit contains 8 products for 2
adults for 10-day pandemic in a handle travel case for just $175.00. Use does by
weight for children, see instructions.
CUSTOMIZED YEAR’S SUPPLY OF HERBAL MEDICINE – Stock up with over 90

products designed to protect your immune system, cleanse the body and address what
ails you. NOW SAVE 15% on this package with the STIMULUS DISCOUNT. Call
Apothecary Herbs 866-229-3663, International 704-875-8010
http://www.thepowerherbs.com. Or ask about ordering a customized Year’s Supply for
your particular family needs.
EXTRA HEART ATTACK PREVENTION

In addition to the heart strengthening therapies above, while you have some extra
prevention on hand for the onset of a heart attacks. For a combo of five potent
formulas in a handy carry pack for emergencies especially when you can’t get medical
attention - look for the Heart Attack Pack (just $99.00) at Apothecary Herbs
http://www.thepowerherbs.com 866-229-3663, International 704-875-8010.
OUR VERSION OF THE ECONOMIC STIMULUS – Apothecary Herbs is offering 15%
off your total order before shipping when you print off your shopping cart order online
or fill out the catalog order form and mail in your order with your check or money order.
Get prepared, healthy and save – what could be better than that? International orders
can send an International Money Order and save 15%. Apothecary Herbs, P.O. Box
918, Huntersville, NC 28070 USA.
SURVIVAL ITEMS – STAND-UP FOOD POUCHES (NOW SAVE 15% CALL NOW)
Order your convenient and compact, dehydrated food in the stand-up pouch for food
emergencies or recreational camping. Light weight food pouches have a long shelf life,
are easy to store for your rainy day food shortages and don’t cost a lot to ship. We
have several meals to choose from in single and double serving sizes to avoid waste.
Mix and serve in the stand-up pouch and avoid the need for extra utensils and
cleanup. Order single serving or double serving meals by the case and for a hot meal,
don’t forget the reusable Flameless Oven for just $13.00. Call Apothecary Herbs 866-
229-3663, International 704-875-8010 or order online http://www.thepowerherbs.com.
43
HERBS FOR PETS - Dog & Cat Immune Booster Formulas plus Dog & Cat
Congestion Formulas plus toxic-free flea and tick collars, shampoo and spray at
Apothecary Herbs. Call now toll free 866-229-3663, International 704-875-8010 or
Portuguese Sea Salt® - imported from the traditional salterns (a 2000-year tradition)
along the coast of Algarve, Portugal. Salt crystals are harvested by hand and sun-
dried. This is a true artisan sea salt providing richness as well as a smooth and elegant
flavor to food. 1/2 pound ground unrefined Portuguese Sea Salt® just $8.50 at
Apothecary Herbs 866-229-3663, International 704-875-8010
HERB TALK LIVE – with Herbalist Wendy Wilson every Tuesday & Thursday at 7:00
pm EST on AVR www.theamericanvoice.com and Thursday at 4:00 pm on WBCQ
7.415 and Saturday 7:00 am on GCN www.gcnlive.com. Free radio show archives at
http://www.thepowerherbs.com
#10 CANS SURVIVAL FOOD – call Freeze Dry Guy 866-404-3663 or

www.freezedryguy.com.
*****
For the subscriber with the toenail infection tell him to try vinegar, we use apple cider
vinegar, it works on infections, cured my daughters wart and athletes foot. Trying it
now for their allergies taken internally it is suppose to provide relief, no conclusion yet
for allergies.
For the athlete’s foot we found a flat Tupperware container that fit the foot.
Place the foot in the container and fill with vinegar until it covers the foot. Soak for 5 –
10 minutes 2 - 3 times a day. Do not throw out the vinegar, set the container aside for
the next use. Discard when healed. Vinegar can burn if exposed to the skin for a long
time. We put some on gauze and used a bandage to hold it on a wart overnight and
after the second night it started burning the skin. There are many other uses for
vinegar.
*****
I have no way of verifying if this is valid information but it is worth checking out before
taking any vaccine.
Boy this is scary. Andy
VACCINE HORROR
From Neurosurgeon Russell Blaylock, M.D.
Neurosurgeon Russell Blaylock, M.D. wrote a new, more horrifying event is soon to
take place that will potentially kill thousands and cripple tens of millions more. He says
a new vaccine has been created using an immune adjuvant called squaline, that has
been shown to produce devastating neurological injuries in animals and has been
strongly linked to the Gulf War syndrome and the 200% increase in the fatal disease
ALS in soldiers receiving the anthrax vaccine. Here is the information he sent: <
44
http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf >
http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf
He says the information is critical, so please pass it on.

Dr. Blaylock is the author of Excitotoxins: The Taste That Kills and the Blaylock
Wellness Report: < http://www.russellblaylockmd.com/ > www.russellblaylockmd.com
He is also a specialist in bioterroism. Below is more information on the subject.
Canada is to vaccinate the entire population. You can be sure America is going to be
next. It's not if but when. *Mass vaccinations will be administered in Norway
November 2009 - H1N1 possibly containing deadly H5N1 strain **see:*
< http://www.youtube.com/watch?v=gkj2BU9oxXo >
http://www.youtube.com/watch?v=gkj2BU9oxXo
Dr. Blaylock wrote this article on Gulf War Illness and vaccinations: <
http://www.rense.com/general67/vacc.htm > http://www.rense.com/general67/vacc.htm
He also discusses vaccines in detail in Health & Nutrition Secrets to Save Your Life, <
http://www.russellblaylockmd.com/ > www.russellblaylockmd.com
The Antrax vaccine given to the troops was not approved by the FDA. Dr. Michael
Friedman, acting FDA Commissioner at the time simply said to use it. Friedman, you
may remember defended Monsanto on 60 Minutes when Dr. John Olney made world
news on aspartame and brain tumors in 1996. He became Vice President of Searle a
few years later at about a half a million a year. What a reward. I told him the FDA
didn't need a revolving door any more; they could build a bridge to take up the traffic.
In the case of ALS or Lou Gehrigs this also can be triggered by aspartame, which
interacts with vaccines. Talk about a double whammy. Dr. James Bowen has Lou
Gehrigs from aspartame and he is quoted in this article I wrote about it: <
http://www.wnho.net/aspartameandgulfwar.htm >
http://www.wnho.net/aspartameandgulfwar.htm
Aspartame interacts with toxins. It causes chemical hypersensitization. In a
conversation with Dr. Bill Deagle he said he considered aspartame more dangerous
than depleted uranium because of its ubiquitous nature in food.
Vaccines are discussed in Dr. H. J. Roberts new book just published, "A Manifesto For
American Medicine". < http://www.sunsentpress.com/ > www.sunsentpress.com He
talks about the widespread concern over this issue among American parents and
says: "These are the current facts: (a) the Centers for Disease Control and
Prevention recommend that children receive 28 doses of vaccine (for 14 diseases) by
the age of two...more than double the number required in the 1970s; (b) 77 per cent of
kindergartners have completed their immunization; and (C) children between the ages
of birth and seven will receive 47 doses of vaccines -- and 67 or more by the age of 18
- if the current vaccination schedule of the Advisory Committee on Immunization
Practices of the CDC is followed."
He says further, "The justification for this practice is reinforced by a major societal
consideration referred to as the herd-immunity effect. It conveys the belief that a
highly immunized population is more likely to resist penetration by serious pathogens.
The magnitude of the issue is reflected by the estimated 5,000 families with autistic
children seeking damages from a federal program to compensate for alleged harm
caused by vaccines."
Consider also aspartame triggers autism. Today children don't have a chance.
Imagine how these amounts of vaccines destroy the children's immune system before
45
they get into school. Then pediatric vitamins, over-the-counter drugs and prescription
drugs have aspartame in them.
Particularly important about flu shots and Alzheimer's: Dr. Russell Blaylock MD has
issued the following warning concerning this and other toxic metals in vaccines:
"The aluminum and the mercury used in vaccines are significant neurotoxins, which
play a major role in all neurological disorders. It is also important to remember that
both of these metals accumulate in the brain and spinal cord. This makes them much
more dangerous than rapidly excreted toxins.
Numerous studies have shown harmful effects when aluminum accumulates in the
brain, including Alzheimer's disease and possibly Parkinson's disease and ALS (Lou
Gehrigs disease). This may also explain the ten-fold increase in Alzheimer's disease in
those receiving the flu vaccine five years in a row."
In the case of Gulf War Illness the troops never had a chance. Between vaccines,
aspartame and depleted uranium friendly fire killed more than the enemy.
From Dr. Blaylock's book, "Health and Nutrition Secrets to Save Your Life":
"So in the case of diet drinks in aluminum cans, the very toxic brain aluminum fluoride
compound co-exists with multiple toxins found in aspartame, thus creating the most
powerful government-approved toxic soup imaginable. With the strong association
between aluminum, excitotoxins, aluminum fluoride complexes and Alzheimer's
disease, it would be completely irresponsible to encourage people to consume this
toxic mixture."
The troops discussed how these diet drinks sat on pallets for as long as 9 weeks in the
hot Arabian sun, and they drank them all day long. Aspartame breaks down at 86
degrees or moderate temperature. The methyl alcohol breaks down to formaldehyde.
The entire molecule breaks down to diketopiperazine, a brain tumor agent. Meanwhile
they were vaccinated. Add a bit of depleted uranium. With this information you can
now understand Gulf War Illness in full.
If anyone tries to rebut the issue of vaccines being dangerous, ask them to explain
these references:
< http://www.mpwhi.com/references_proving_vaccines_are_deadly.htm >
http://www.mpwhi.com/references_proving_vaccines_are_deadly.htm
Dr. Ken Stoller, pediatrician and founder of the New Mexico Aspartame Detox Center,
tried to have mercury removed from vaccines in New Mexico. It's a battle against
industry when everyone knows mercury is poison. He lectures on aspartame and
vaccines and autism. We testified before the Senate and House in New Mexico trying
to get aspartame banned, a bill sponsored by Senator Gerald Ortiz y Pino. Stephen
Fox, Mission Possible New Mexico worked tirelessly on this effort. Dr Stoller told the
Senate: "How are we going to get anywhere with you sitting here drinking Diet Coke,
but at least have mercy on the children." They didn't and the capital was saturated
with lobbyists, front groups and those assisting industry to keep this poison on the
market.
The horror stories on vaccines are endless but here is the worst. My friend Julie
Kelly's son, Bryant, was waiting to see a physician at the VA Hospital. He sat at a
physician's desk and read a letter. Shocked at the contents he took the letter home
and showed it to Julie. A physician went to Africa to vaccinate children, and they died.
The doctor did an analysis on the vaccine and found the AIDS virus. The MD at the
VA had written back the children were going to die anyway from starvation. It may be
hearsay but she saw the letter and it's a scary situation.
It makes me think of Psalm 37:12-14: "The wicked one is plotting against the
righteous one. At him he is grinding his teeth. Jehovah himself will laugh at him. For
he certainly sees that his day will come. The wicked ones have drawn a sword itself
46
and have bent their bow to cause the afflicted and poor one to fall, to slaughter those
who are upright in their way."
In the news only today on Africa and vaccinations:
<
http://www.theoneclickgroup.co.uk/news.php?start=2740&end=2760&view=yes&id=35
57#newspost >
http://www.theoneclickgroup.co.uk/news.php?start=2740&end=2760&view=yes&id=35
57#newspost A movie on the subject is "Constant Gardener".
.
When the New World Order was first announced years ago it included the necessity to
depopulate the world. Nobody can say they didn't warn of what they were intending.
They were right up front with the information.
I live in Atlanta, Georgia and 100 miles from me, in Elberton, Ga, the Georgia Guide
Stones were erected in 1980. Four gigantic granite slabs in which are cut Guides for a
better world in eight languages. The first "Guide" is: Maintain Earth's population at 500
million, in perfect balance with nature. There are 13 times those numbers now, so
someone wants to kill off 92% of humanity.
75 miles in the other direction, in Madison County, Ga half a million plastic burial vaults
wait for corpses. Cemeteries in Houston, Phoenix and Newcastle California have
thousands of concrete burial vaults side-by-side, empty and waiting. Google Georgia
Guidestones & Mass Graves to confirm.
Now consider the two killers, aspartame and vaccines, which even interact. If the
plague of aspartame disease by itself is not horrific enough, today they are constantly
adding this toxin to the very drugs used to treat the problems it causes. As an
example, headache is #1 on the FDA list of 92 symptoms. Merck makes Maxalt for
headache and adds aspartame. So a small study was done on aspartame and Maxalt,
which shows using this drug, makes headaches worse. Merck refuses to remove it.
Consider aspartame can precipitate Parkinson's and interacts with L-dopa. So they
made Parcopa and added aspartame. Schwarz Pharmaceuticals refuses to remove
it: < http://www.wnho.net/schwarz_pharma_letter.htm >
http://www.wnho.net/schwarz_pharma_letter.htm
Please read "The Truth About the Flu Shot by Dr. Tenpenny, Dr. Blaylock has sent. <
http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf >
http://www.mpwhi.com/the_truth_about_the_flu_shot.pdf
Forward these reports to all your lists, to physicians who can educate thousands,
send it to loved ones, office employees and anywhere you can save a life. It should
also be translated in other languages.
Dr. Leonard Coldwell sent this report from a Dr. King:
We should all be more concerned about the 25 MILLION doses of LIVE-VIRUS
vaccine that MedImmune is making BECAUSE it will give ALL who are inoculated with
it a "case" of the "swine flu" as well as, through "shedding" the live virus in many
instances will cause a secondary infection and infect the non vaccinated since the live-
virus recipients are not required to self-quarantine.
Do you remember that in 1976" the swine flu campaign? It was a fiasco causing death
and permanent debility. They had to stop the vaccine program in its tracks after 3
weeks of injury.
.
This may sound strong, but essentially to deploy Live-Viruses, MedImmune and the
CDC/FDA will be guilty of participation in the manufacture and deployment of a
bioterrorism agent!
47
Pregnant women, who are carrying the next generations of Americans are particularly
at risk. The CDC pushes the annual flu shot on pregnant women without
discriminating between Thimerosal (mercury) and Thimerosal-free. It was the
Thimerosal in the Rhogam shot that caused women to give birth to autistic children.
The manufacturer, on their own, removed Thimerosal from the vaccine. RH negative
Rhogam recipients was a minor demigraphics. NOW THE ENTIRE POPULATION OF
PREGNANT WOMEN stand to get injected with mercury from the annual flu shot as
well as the swine flu vaccine. AND furthermore, stand susceptible in getting the flu
infection from those who receive the LIVE VIRUS VACCINE and are shedding for a
few weeks.
NO manufacturer will be held "liable" for the harm caused by this untested vaccine
under the "Bioterrorism 3" provisions.
FLU VACCINE RECOMMENDATIONS FOR ALL PREGNANT WOMEN (CDC)
The Advisory Committee on Immunization Practices (ACIP):
Vaccination of pregnant women is recommended by the Centers for Disease Control
Advisory Committee on Immunization Practices (ACIP).
< http://www.cdc.gov/vaccines/pubs/vis/default.htm#flu >
http://www.cdc.gov/vaccines/pubs/vis/default.htm#flu
FDA approved manufacturers package insert: Manufacturers warnings
Sanofi Pasteurs Fluzone package insert, WARNING
http://www.vaccinesafety.edu/package_inserts.htm>www.vaccinesafety.edu/package_i
nserts.htm
8.1 Pregnancy Category C: Animal reproduction studies have not been conducted
with Fluzone vaccine. It is also not known whether Fluzone vaccine can cause fetal
harm when administered to a pregnant woman or can affect reproduction capacity.
Fluzone vaccine should be given to a pregnant woman only if clearly needed.
8.2 Nursing Mothers: It is not known whether Fluzone vaccine is excreted in human
milk. Because many drugs are excreted in human milk, caution should be exercised
when Fluzone vaccine is administered to a nursing woman.
13.1 Carcinogenesis, Mutagenesis, Impairment of Fertility: Fluzone vaccine has not
been evaluated for carcinogenic or mutagenic potential, or for impairment of fertility.
NOTE: CDC does not require providers to inform pregnant women of the Thimerosal
(mercury) content.
Regards,
Dr. King-
Dr Leonard Coldwell
Board Certified NMD DNM PHD LCHC CNHP DIP.PHC
< http://www.drleonardcoldwell.com > www.drleonardcoldwell.com
www.instinctbasedmedicine.com
After reading this I couldn't help but remember a trip to Italy a couple of years ago. We
spent the afternoon with a couple on back to back cruises. They mentioned before
leaving they both got the flu shot. I said, "It can give you the flu!" The lady replied, "As
a matter of fact on the first cruise we did both suffer the flu, and we would never tale
the shot again, but you're safe because we are over it." By the time we reached
Atlanta both of us also had the flu. So take the above report seriously.
To show you the grave circumstances consider that a journalist has filed charges
against WHO and the UN for Bioterrorism and Intent to Commit Mass Murder.
< http://www.naturalnews.com/z026503_pandemic_swine_flu_bioterrorism.htm >
http://www.naturalnews.com/z026503_pandemic_swine_flu_bioterrorism.htm
Virologist Bill Deagle, MD was approached by the CIA a few years ago wanting his
help to develop a weaponized flu, and weaponized vaccine for population control
48
purposes. After pouring over their documents he REFUSED to help them and at risk to
his life became a WHISTLEBLOWER. He has been working very hard via his website,
radio show, and articles to alert all Americans to refuse the coming mandatory swine
flu vaccine.
< http://www.youtube.com/watch?v=5SvxwvWHTsA >
http://www.youtube.com/watch?v=5SvxwvWHTsA
Unfortunately 80% of the population will be like lambs to the slaughter rolling up their
sleeves because they were told to do so. Please become educated on the issue to
save your life and help to educate others by spreading far and wide. The FDA who
has betrayed the public trust has shown their loyalty is only to industry. They have
actually threatened to seize all natural products that dare to mention H1N1 Swine Flu.
Dr. Betty Martini, D.Hum, Founder
Mission Possible International
9270 River Club Parkway
Duluth, Georgia 30097
770 242-2599
<http://www.mpwhi.com/ >www.mpwhi.com, www.dorway.com and
<http://www.wnho.net/ >www.wnho.net
Aspartame Toxicity Center, < http://www.holisticmed.com/aspartame >
www.holisticmed.com/aspartame
*****
SCHEDULED ISSUES
Wednesday, July15, 20009
Saturday, July 18, 2009
Wednesday, July 29th, 2009
49

If

Hochgeladen von

Dokumentinformationen

Originaltitel

Copyright

Verfügbare Formate

Dieses Dokument teilen

Dokument teilen oder einbetten

Freigabeoptionen

Stufen Sie dieses Dokument als nützlich ein?

Sind diese Inhalte unangemessen?

Copyright:

Verfügbare Formate

If

Hochgeladen von

Copyright:

Verfügbare Formate

THE INTERNATIONAL FORECASTER

SATURDAY - JULY 11, 2009

Published and Edited by: Bob Chapman

CHECK OUT OUR WEBSITE

NON US OR CANADIANS SUBSCRIBERS:

Discount Gold & Silver Trading Co.

Radio Liberty part 1 <http://www.youtube.com/watch?v=lZRH2CtEu2k>

For a Few Bailout's More

Billions more needed for financial rescue

Our show with; Stephen Lendman - Easy to download the program.

The Senate Committee on Homeland Security and Governmental

16 CALLS, 16 MINUTES, FOR YOUR FREEDOM AND FUTURE

FOR MORE ON REAL ID, THE PASS ACT, BIOMETRICS, &

Twin Cities advisers accused of fraud, mismanagement

In-Depth Look - Stealing Secrets from Goldman Sachs - Bloomberg

Schumer: Immigration Bill to Be Ready by Labor Day

Amendments to H.R. 2647 empower Holder to demonize law-abiding American

Paul Joseph Watson

Why Banks Prefer Foreclosures over Mortgage Modifications

Judge asks if US govt would shut UBS in tax fight

China demands currency reform, France backs debate

HR 2749: A Stealth Agribusiness Empowering Act

From a Fellow Subscriber:

From a Fellow Subscriber:

From a Fellow Subscriber:

From a Fellow Subscriber:

July 10, 2009

From a Fellow Subscriber:

Consider the following remarks and attitudes of top Lincoln officials:

And as you know, I believe it was Mr. Stanton who boasted,

“States Rights died at Appomattox.”

Thank you for your time.

From a Fellow Subscriber:

The half-wit pedophile known as British PM Gordon Brown at the G-8

GOLD, SILVER. PLATINUM AND PALLADIUM

DISCOUNT GOLD & SILVER TRADING

The Undefined Dollar

“When US Treasury Secretary Tim Geithner tried to insist at a university

“Uhh, OK—but how long is a ‘gork’?”

email us at: discountgoldandsilver@yahoo.com

AUSTRALIA AND NEW ZEALAND

THE BIG PICTURE

CHOLESTEROL MUG SHOT

WHAT ABOUT OATS?

THE PERFECT HERB

CUSTOMIZED YEAR’S SUPPLY OF HERBAL MEDICINE – Stock up with over 90

EXTRA HEART ATTACK PREVENTION

#10 CANS SURVIVAL FOOD – call Freeze Dry Guy 866-404-3663 or

He says the information is critical, so please pass it on.

Das könnte Ihnen auch gefallen