An MP who was involved in last month’s G20 protests in London is to call for an investigation into whether the police used agents provocateurs to incite the crowds.
Liberal Democrat Tom Brake says he saw what he believed to be two plain-clothes police officers go through a police cordon after presenting their ID cards.
Brake, who along with hundreds of others was corralled behind police lines near Bank tube station in the City of London on the day of the protests, says he was informed by people in the crowd that the men had been seen to throw bottles at the police and had encouraged others to do the same shortly before they passed through the cordon.
Brake, a member of the influential home affairs select committee, will raise the allegations when he gives evidence before parliament’s joint committee on human rights on Tuesday.
He’s back and in denial in a March 11 Wall Street Journal op-ed headlined: “The Fed Didn’t Cause the Housing Bubble.” He lied, the way he did throughout his career and for 18.5 years as Fed chairman. How else could he have kept the job, be knighted in the UK for his “contribution to global economic stability, wisdom and skill,” then afterwards be extolled by the Money Trust he enriched.
So now he’s preserving his “legacy” by expunging its dark side the way Orwell described in 1984 – “down the memory hole,” a convenient slot for “any document….due for destruction,” politically inconvenient truths to be erased to preserve only sanitized versions for the public. It’s called historical revisionism, but even some on the right aren’t convinced.
The Ludwig von Mises Institute is a libertarian research and educational center espousing the Austrian School economics of its namesake. Robert Murphy is one of its adjunct scholars, and in an April 14, 2008 article he asked: “Did the Fed Cause the Housing Bubble?”
The Invisible One Quadrillion Dollar Equation — Asymmetric Leverage and Systemic Risk
According to various distinguished sources including the Bank for International Settlements (BIS) in Basel, Switzerland — the central bankers’ bank — the amount of outstanding derivatives worldwide as of December 2007 crossed USD 1.144 Quadrillion, ie, USD 1,144 Trillion. The main categories of the USD 1.144 Quadrillion derivatives market were the following:
1. Listed credit derivatives stood at USD 548 trillion;
2. The Over-The-Counter (OTC) derivatives stood in notional or face value at USD 596 trillion and included:
a. Interest Rate Derivatives at about USD 393+ trillion;
b. Credit Default Swaps at about USD 58+ trillion;
c. Foreign Exchange Derivatives at about USD 56+ trillion;
d. Commodity Derivatives at about USD 9 trillion;
e. Equity Linked Derivatives at about USD 8.5 trillion; and
f. Unallocated Derivatives at about USD 71+ trillion.
With the $700 Billion Bush Bailout plan, the $787 Billion Obama Stimulus plan and the new possibly $1 trillion Obama bailout, it is high time people understand just what “a trillion” is. If they truly understood this, I think they would all be as livid as I! (Bear with me, because this does not make for great reading…but it is extremely enlightening!)
We can all agree that we would be sitting really pretty if we had a six-figure income, right? Let’s say we made a consistent $150,000 a year, starting at age 18 until we retired at age 75. I’ll do the math…We would have made $8,550,000 in our life. That is not bad, but lets say we stumbled upon something really crazy and made a consistent $250,000 per year for the same period. We would have made $14,250,000 for our life’s work. Now, keep in mind, that is with absolutely NO raise for the 57 years of work…Now, lets think about this, 100,000 people can work for $150,000, or 70,000 people for $250,000, for the 57 years and that would STILL not be $1 trillion.
Eurasia is currently experiencing serious problems derived from financial and economic difficulties such as unemployment, GDP negative growth, currency depreciation, overall economic slowdown and so on. Several members of both the European Union and NATO (Poland, Hungary, Iceland come to mind) are already dealing with a considerable deal of domestic discontent. Some States from the Former Soviet Union (notably Ukraine, Belarus and the Central Asian Republics) and even Russia itself are facing similar problems. Even Chinese government officials acknowledge protests in the Chinese mainland, as pointed out by Professor Michael Klare, which means that East Asia is by no means an exception. As we shall see, financial and economic conditions are equally grave in the American hemisphere, if not more so.
Zbigniew Brzezinski, former National Security Advisor and early supporter of Barack Obama’s presidential campaign, has warned that civil unrest on American soil is a possibility that should not be dismissed. Brzezinski explains that “[the United States is] going to have millions and millions of unemployed, people really facing dire straits. And we’re going to be having that for some period of time before things hopefully improve. And at the same time there is public awareness of this extraordinary wealth that was transferred to a few individuals at levels without historical precedent in America…” Brzezinski concludes with this noteworthy remark “…hell, there could be even riots”.
Economic Shock and Awe as Interest Rates are cut to 0.5% coupled with £75 Billion conjured out of thin air by Mervyn King Waving his “Central Bank Magic Wand”. The government through what should be more accurately termed as “Quantitative Inflation” than “Quantative Easing” sanctioned £75 billion in the initial print run which will have a multiplier effect through fractional reserve banking and leverage of anywhere from between X10 to X20 the amount depending on how it filters through the economy, therefore £75 billion increase in the money supply implies the supply of credit should jump by anywhere between £750 billion to £1.5 trillion, but more probably in the region of X10 at £750 billion over the next few months, with expectations of several more doses of “Quantitative Inflation” during 2009 that seeks to devalue the British Pound towards parity to the U.S. Dollar.
UK Interest Rates
Frankly interest rates being cut from 1% to 0.5% makes little if no positive difference to the economy as the problem is the lack of credit and not the level of the base interest rate, if anything it further reinforces the fact that Monetary Policy has Failed, therefore the government may have been wiser to have left interest rates at 1% which would have sent a stronger message out to financial markets rather than look here. We have panicked again and cut to 0.5% ! 0.25% Next, then what ? The end of monetary policy that’s what! I would be surprised if rates were cut again, but with the lack of competent decision making I am afraid it remains a distinct possibility.
Police are preparing for a “summer of rage” as victims of the economic downturn take to the streets to demonstrate against financial institutions, the Guardian has learned.
Britain’s most senior police officer with responsibility for public order raised the spectre of a return of the riots of the 1980s, with people who have lost their jobs, homes or savings becoming “footsoldiers” in a wave of potentially violent mass protests.
Superintendent David Hartshorn, who heads the Metropolitan police’s public order branch, told the Guardian that middle-class individuals who would never have considered joining demonstrations may now seek to vent their anger through protests this year.
The purpose of this analysis is to map out to the trend of the UK recession for 2009 and 2010 in terms of depth, the bottom and the potential recovery. The most recently released GDP data shows that the UK economy actually did fall off of the edge of a cliff during the fourth quarter of 2008 by contracting by a shocking 1.5% GDP. This compares against the governments recent forecast for 2% GDP contraction for the whole of 2009 which paints a picture of gross under estimation of the actual extent of the degree of economic contraction that is taking place at this time, and hence the adoption of the easy going terminology of “Quantative Easing” to hide the truth of money printing on a scale that could bankrupt Britain, the evidence of which has been played out in the currency markets with sterling’s fall to a 23 year low against the dollar, a fall of over 30% in barely 6 months.
