On tapes, secret scumbaggery and why John Key should have known better!

It’s Nov. 2, 1993, and two employees of Bankers Trust Co. are discussing a leveraged derivative deal the bank had recently sold to Proctor & Gamble Co. “They would never know. They would never be able to know how much money was taken out of that,” says one employee, referring to the huge profits the bank stood to make on the transaction. “Never, no way, no way,” replies her colleague. “That’s the beauty of Bankers Trust.” The Bankers trust tapes 1993

To understand John Key’s over the top aggression towards the tape maker and the press who holds it you have to go back in John Key’s murky past. To the year 1995 to be precise. That was the year the bank John Key was working for collapsed and he had to find another job. Lucky for him another bank had a use for his salesman of crappy derivatives qualities and he went on to develop their department of debt but that event must have been traumatic for John Key as it could have meant the loss of his income and the status he craved through wealth! In Fact John Key describes his departure from Bankers trust bank as follows in the July2008 Eugene Bingham’s “Unauthorised biography”: And then all hell broke loose and I said,”Right I’m out of here”!

So what happened in the year 1995 that caused the Bank to collapse?

In short the bank collapsed because its clients lost all trust in the bank and pulled out their fortunes leaving the bank insolvent. But why did they losse all their confidence?

To find out about this you have to go back to 1993 as this was the year the corporate giant Proctor and Gamble started proceedings against Bankers Trust bank, the bank John Key worked for at the time.

Their reason for doing so was the fact that they had started loosing money on a package of derivatives they had been advised to buy by the Bankers trust bank. They alleged that the bank had sold them a product which was so complicated that they had no way to ascertain the validity of the product and that it was in fact fraudulent.

It wasn’t until 1995 that it became clear that the bank would not survive because 6,500 tape recordings were forced out in the open by Proctor & Gamble meaning the bank lost most of it’s customers. So you see for all intends and purposes John Key has lost a job once before due to leaked tapes exposing his bank as a thoroughly fraudulent and corrupt entity.

In fact the banks employees had a word for their scamming ways. That word was ROF which stood for Rip off Factor.

Today a Global Climate Change Special or how to rip of the world some more by the GLobal banksters

No wonder John Key doesn’t want to be seen anywhere near the Copenhagen CC conference. He would be the only known bankster there and likely to be strung up by the highest CO2 absorbing tree when they would all start to put two and two together. So today I thought I’d bring some CCCC  truth home and perhaps we can find a tree hight enough to do it over here.

With the appearance of more or less the same story in every major media outlet the ramp up to Copenhagen began: The Apocalypse begineth!

And it’s going to be expensive: To neutralize your farts and breathing you are going to have to pay Tax. Carbon tax to be precise, except we won’t call ti that we will call it Carbon Credits and whatdayaknow, Big Oil helped him achieve bliss for all of us by selling us oil and carbon credits to redress the imbalance caused by our reckless use of fossil fuel. Ain’t that grand.

Al Gore was kind enough to start selling them and although it also made him a rich man he singlehandedly is saving us from our own emissions by personally collecting the money we spend on keeping us CO2 neutral.

And also we were told in order to be nice to the developing countries and to give them a fighting chance and also because compared to the developed countries they emit fuck all CO2 we would be for their emissions.

For us Kiwi’s that would be a mere 30 million and let’s face it some of us win more than that in a lottery.

It turns out that the money we were told we’d have to pay will be used not to give those countries a fighting chance but to cull the UN and terrorize those developing countries into accepting all kinds of limitations if and when they want to receive some of that money.

You see the money would go to the World bank (remember Wolfowitch), we would ditch the Kyoto protocol and sideline the UN and generally hand over authority to the international banking elite according to a leaked draft of the planned Copenhagen climate agreement. Yep, all but signed sealed and delivered.  Needless to say that the representatives of those developed countries are not happy.

Also what would be in it for us? We give 30 million to the WB and are they going to tell us what we can and cannot do too? Well, the EPS is poised to declare CO2 a public danger and this will give Obama authority to single handedly decide who, what, where can produce CO2. That is the gas you breath out every time you breath.

Are you happy with John Key’s former colleagues deciding whether you can breath or not while they subsidize their rich buddies with our money.

What is more it seems that some countries think it’s perfectly OK to change weather patterns to suit themselves without regard as to what it does to the rest of us and I don’t know about you but I would like to see this addressed in a “Climate” conference. Especially with all the bigwigs together in one spot.

What makes all of this even more cynical is the fact that the Guru of Obama’s Environment czar John P. Holden, Harrison Brown in 1954 thought that to burn lots of coal in order to expand the amount of CO2 in the air would be a good idea because it would double the speed of growth in trees and vegetables and other plants.

Not only that in Aspen the increase in growth of trees is actually linked to the increase of CO2.

Now I’m not claiming to understand the workings of our ecosystems as I’m only one simple human being but I do know about leaders, politics and corruption our own double Dipton English and and the National party top dogs being a case in point and I know that if they can get a way with putting more of our hard earned cash in their own pockets they will and I can smell a scam from a mile away.

Buy a $ 15.000 health insurence or go to jail.

The new medicare laws passed by congress contain the following ways in which to enforce people to spend a minimum of $ 15.000 a year for their health care in the US.

So if you are one of the 30 million unemployed and on benefits or food stamps for a limited period before you are kicked out of the system at least you will have a bed and some grub in the future when they haul your ass into one of the privately run prisons. Or will you?

Apparently this is the capitalist idea of “free healthcare” for everybody but it sounds like a scam to me.

oday, Ranking Member of the House Ways and Means Committee Dave Camp (R-MI) released a letter from the non-partisan Joint Committee on Taxation (JCT) confirming that the failure to comply with the individual mandate to buy health insurance contained in the Pelosi health care bill (H.R. 3962, as amended) could land people in jail.  The JCT letter makes clear that Americans who do not maintain “acceptable health insurance coverage” and who choose not to pay the bill’s new individual mandate tax (generally 2.5% of income), are subject to numerous civil and criminal penalties, including criminal fines of up to $250,000 and imprisonment of up to five years.

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Wall street versus Main street.

Our PM, John Key is a ex banker. His career at Merrill Lynch was both as the global head of the Foreign Exchange department and the European head of the Bonds and Derivatives trade.

In other words he was running the parasitical scam that is the Derivatives trade for Merril Lynch. He made $ 50 million running the departments that were selling the new fangled financial products to pension funds, private investors and other suckers finding out they are the ones falling to the ground now that the financial musical chairs game  is collapsing.

John Key made his money with a scam. John Key therefore is a scammer. It pays to remember that while we watch him being comfortable with Bill English rorting the NZ taxpayers out of almost $ 4000.- (Let’s be precise about it $ 3600,-) a month.

My husband works more then 40 hours a week and has to drive two hours every working day and did about 10 years of training to achieve that kind of income.

That’s a lot of time away from home.

Why don’t you move closer to his work you ask? To Morrinsville?

No serious, we have to live that far away from his work because I take care of his parents (if and when they need help) and we are part of a community that is also our social network and as such not something to throw away lightly. His job sort of moved away from were we lived (due to contracting) and settled five years ago. The good news is we don’t have children that are being neglected by their father because he doesn’t receive $ 920.- a week on top of his $5500.- weekly salary for a house he doesn’t even live in so he “can be with his kids”.

Are they worse than say Labour? Does it matter? National came to power on their campaign against perceived Labor corruption. It seems to me that the high horse they were riding has collapsed into a wooden horse befitting their childish “but labor did it too” argument.
And no I don’t vote Labor either.

A Program of Financial Concentration: Was the Bailout Itself a Scam?

While the scamsters at the top of AIG pay themselves bonusses it pays  to remember that the amount of money they paid themselves is just mere fraction of the amount they received.

The lump sum of the bail out goes to the banksters who insured their dodgy bets with AIG. yep you got it in one. The banksters betted the shop and insured those bets with AIG.

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Professor Michael Hudson (CounterPunch, March 18) is correct that the orchestrated outrage over the $165 million AIG bonuses is a diversion from the thousand times greater theft from taxpayers of the approximately $200 billion “bailout” of AIG. Nevertheless, it is a diversion that serves an important purpose. It has taught an inattentive American public that the elites run the government in their own private interests.

Americans are angry that AIG executives are paying themselves millions of dollars in bonuses after having cost the taxpayers an exorbitant sum. Senator Charles Grassley put a proper face on the anger when he suggested that the AIG executives “follow the Japanese example and resign or go commit suicide.”

Yet, Obama’s White House economist, Larry Summers, on whose watch as Treasury Secretary in the Clinton administration financial deregulation got out of control, invoked the “sanctity of contracts” in defense of the AIG bonuses.

But the Obama administration does not regard other contracts as sacred. Specifically: labor unions had to agree to give-backs in order for the auto companies to obtain federal help; CNN reports that “Veterans Affairs Secretary Eric Shinseki confirmed Tuesday [March 10] that the Obama administration is considering a controversial plan to make veterans pay for treatment of service-related injuries with private insurance”; the Washington Post reports that the Obama team has set its sights on downsizing Social Security and Medicare.

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The Federal Reserve is a Private Financial Institution

Below are excerpts from a court case proving the Federal Reserve system’s status. As you will see, the court ruled that the Federal Reserve Banks are “independent, privately owned and locally controlled corporations”, and there is not sufficient “federal government control over ‘detailed physical performance’ and ‘day to day operation’” of the Federal Reserve Bank for it to be considered a federal agency:

Lewis v. United States, 680 F.2d 1239 (1982)

John L. Lewis, Plaintiff/Appellant,
v.
United States of America, Defendant/Appellee.

No. 80-5905
United States Court of Appeals, Ninth Circuit.
Submitted March 2, 1982.
Decided April 19, 1982.
As Amended June 24, 1982.

Plaintiff, who was injured by vehicle owned and operated by a federal reserve bank, brought action alleging jurisdiction under the Federal Tort Claims Act. The United States District Court for the Central District of California, David W. Williams, J., dismissed holding that federal reserve bank was not a federal agency within meaning of Act and that the court therefore lacked subject-matter jurisdiction. Appeal was taken. The Court of Appeals, Poole, Circuit Judge, held that federal reserve banks are not federal instrumentalities for purposes of the Act, but are independent, privately owned and locally controlled corporations.

Affirmed.

1. United States

There are no sharp criteria for determining whether an entity is a federal agency within meaning of the Federal Tort Claims Act, but critical factor is existence of federal government control over “detailed physical performance” and “day to day operation” of an entity. . . .

2. United States

Federal reserve banks are not federal instrumentalities for purposes of a Federal Tort Claims Act, but are independent, privately owned and locally controlled corporations in light of fact that direct supervision and control of each bank is exercised by board of directors, federal reserve banks, though heavily regulated, are locally controlled by their member banks, banks are listed neither as “wholly owned” government corporations nor as “mixed ownership” corporations; federal reserve banks receive no appropriated funds from Congress and the banks are empowered to sue and be sued in their own names. . . .

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How the Masters of the Universe are murdering the middle class by gambling on black gold

I wonder what John Key is doing with his money at the moment? He did say that he lost some on the collapse of another speculative bubble the sub prime mortgage hype.
Which has people all over the US now living in tent cities:

By Dan Atkinson
Last updated at 11:21 AM on 01st June 2008

The Masters of the Universe, those big-name traders of the City and Wall Street, have a brand new toy to play with: oil.

Last month, waves of speculation pushed the price of ‘black gold’ to all-time highs.

Although world supply and demand are thought to be roughly in balance, the bright young things working for the investment banks and hedge funds have bid up the cost of a barrel of crude oil through the stratosphere.

Despite some easing last week, the price remains at record levels.

We will all have to pay, and not just at the filling station. Expensive energy means slower economic growth, fewer jobs and less tax revenue, hence less money to spend on health, education and public safety.

Social tranquillity and the quality of life could take a big hit. Thanks, guys.

New York traders

Feeding frenzy: Traders deal in crude oil in New York

In fairness, we ought to be getting used to this by now. After all, we are only just starting to foot the bill for the financial elite’s last jolly jape: the sub-prime mortgage crisis.

Here, they bundled up huge quantities of flaky American and other mortgages, declared them to be top-quality investments and flogged them to investors – including banks – around the world.

So complicated were these packages of IOUs that nobody was sure which bank held how many.

Once – as was inevitable – low-income Americans started defaulting on their home loans, banks stopped lending to one another because no institution could be sure which of the others could be brought down by these ‘toxic securities’.

Northern Rock in Britain and Bear Stearns in the United States were the biggest victims of the lending drought that followed. We bailed out the former, US taxpayers rescued the latter.

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I feared fallout if I warned on Blue Chip, says ex-minister

Well, the NZ Herald couldn’t quit get from under this one, but they manage to avoid having to say that John Luxton was the commerce minister for the National party so who did he feel the fall out for? His National mates of course. So rather than warning the poor saps who bought the scam l,ike a responsible minister is supposed to do, he kept his  mouth shut to protect his wealthy cronies. Typical, and you want to vote this party back in New Zealanders, wake up and smell the corruption.

A former Commerce Minister regrets being a director of ruined property business Blue Chip but says he didn’t warn the public about the company’s problems because he feared the corporate fallout.

John Luxton, Commerce Minister from 1996-97, was a director of Blue Chip for a year until he wrote a scathing resignation letter in October 2006 criticising many aspects of the business and founding shareholder, director and boss Mark Bryers.

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