INTERNATIONAL EMBARGO SANCTIONS BEING ENFORCED
GROUP OF EIGHT STANDING BY TO IMPOSE FULL SANCTIONS
Monday 11 February 2008 18:17
G-7(8) SANCTIONS PAPERS SIGNED WITH THE WORLD COURT
SETTLEMENT HAS TO DONE NOW AND COMPLETED BY 6.00PM EDT MONDAY
SETTLEMENT IS ABORTED, THE U.S. PRESIDENT, VICE PRESIDENT, CABINET,
CONGRESS AND THE SUPREME COURT WILL BE ARRESTED IN ACCORDANCE WITH THE
G-8'S WORLD COURT ORDERS (WE BELIEVE, BY THE U.S. MILITARY), ACCORDING
TO FOCUSSED SOURCES
INTERNATIONAL BANKING WILL BE SHUT DOWN ON WEDNESDAY
• FOUR OIL TANKERS OFF SAUDI ARABIA
ORDERED TO STAND BY TO RETURN TO PORT
• TWO AMERICAN SHIPS WERE TURNED AWAY BY
• ALL AMERICAN COMMERCIAL AND MILITARY
AIRCRAFT ARE ON STAND-BY TO RETURN TO THEIR AMERICAN HUBS THIS EVENING
AND TOMORROW IN THE EVENT OF NON-PAYMENT
• FOREIGN CARRIERS WILL HAVE TO RETURN
HOME BECAUSE OF RETALIATION
FULL-BLOWN GLOBAL TRADE AND FINANCIAL WARFARE WILL BREAK OUT IMMEDIATELY
THE WEST WILL BE SPLIT DOWN THE MIDDLE, BUT IT WILL BE SHOWN TO BE
THE UNITED STATES' BORDER WITH CANADA MAY HAVE TO BE CLOSED
• NOTE ON THE DEFINITIONS OF THE VARIOUS
GROUPS OF NATIONS REFERRED TO:
Group of Eight and the Group of Ten: The Group of Eight consists of the
United Kingdom, the United States, Canada, France, Germany, Italy,
Japan and Russia (admitted in 1998). The Group of Eight minus Russia is
called the Group of Seven, and it continues to function in that format
from time to time. The Group of Ten, confusingly, consists of 11
members: United Kingdom, Belgium, Canada, France, Germany, Italy,
Japan, Netherlands, Sweden, Switzerland and the United States.
Thus there is overlap. It is
generally thought that for practical purposes the Group of Ten (G-10)
has integrated its strategy on sanctions against the United States,
with the Group of Eight. In all current coverage, the ‘Black Sheep’ is
the United States, which is obviously excluded from the drastic
sanctions decisions that have been taken. It is absolutely
unprecedented for the Group of Eight/Ten nations to implement economic
embargo/sanctions against one of its member countries.
The controlled ‘mainstream media’ is so embarrassingly behind the curve
over this crisis that it would be laughable if it were not pathetic.
Certain controlled websites, ditto.
By Christopher Story FRSA,
Editor and Publisher, International
Currency Review, World Reports Limited,
London and New York: www.worldreports.org. Press
NEWS and the ARCHIVE Button on the www.worldreports.org Home Page
for our 'Wantagate' reports since April 2006.
• The white panel below NEWS gives details of our intelligence titles
as they are published.
• Please Make a Donation, if you
feel able to do so, to help finance Christopher Story's
ongoing financial global corruption investigations. Your assistance
will be very sincerely appreciated and will make a real difference,
hastening the necessary resolution of the worst financial corruption
and linked financial fallout in world history. Our Wantagate reports
been calling all the shots, given the hijacking of Wanta's Settlement.
This is the 92nd Wantagate report: over a million words to date.
• BOOKS: ‘The
Red Terror in Russia’, by Sergey Melgounov, is published by Edward Harle Limited
and available via this combined website. It describes what the Dark
Forces pulled off in Russia, and what they may have in mind for the
United States and Britain (a.k.a. ‘the Main Enemy’) if we do not pull
ourselves together. See also the Editor’s 740-PAGE book ‘The
New Underworld Order’, for the detailed background on the World
Revolution crisis that we are all living through.
Note: Please keep on not shooting the messenger. The following report
is based upon our best information and belief. If matters turn out
differently, or the timeframe changes, as has occurred since Saturday,
this will reflect NEW developments AFTER collection of the intelligence
contained herein. We have flies on walls all over the place, but
sometimes they may be on the wrong walls.
THE INITIAL G-8 COMMUNIQUE IS DECEPTIVE
G-8 issued a communique waffling about the turmoil in the credit
markets without, of course, mentioning that the global financial crisis
is 100% attributable to the massive long-term fraudulent finance
offensive masterminded by an international criminal syndicate bent on
seizing the assets of the whole world, in accordance with the
Thousand-Year Reich delusion promulgated on behalf of the manic
Pan-German elite by their intelligence clone Adolf Schickelgruber,
a.k.a. Hitler, and their renegade Zionazi associates working together
under the evil umbrella provided by the Dachau-based ‘Black’ German
counterintelligence agency, Deutsche Verteidigungs Dienst (DVD).
course, the purpose of the G-8's anodyne communique was to pretend that
things are relatively normal, and also to cover the likelihood that
settlement will take place, as well as saving the G-8/G-10 from having
to assume the worst. But we believe a duplicate communique, which can
be issued separately, is ready to be publicised in the event that the
settlement process, which is believed to have begun, is aborted by the
traitors and the crime syndicate, in collaboration with their criminal
enterprise banking associates.
Wanta’s $4.5 trillion (plus $350-$400 billion of interest due under the
Universal Commercial Code) is held in a ‘package’ that is separate from
all other payments, as we had stressed from the outset. This only
became clear again within recent days.
DECISIVE SANCTIONS COMMUNIQUE READY TO BE ANNOUNCED
indicated, issuance of the usual anodyne communique did not preclude
the further issuance of a substantive one, spelling out the definitive
features of the embargo sanctions against the United States, which
military sources inform us, through intermediaries, are in place. The
message from this source, timed and dated 11:03pm (UK time) 10th
February 2008, stressed ‘without specifics that the sanctions are
already in place, and the (US) military is fully aware and up to speed
research group reporting to the Joint Chiefs had studied our posted
reports dated 9th and 10th February, prior to providing us with these
guarded observations. We naturally acknowledge their need for
circumspection and do not complain about the lack of specifics here.
military-sourced information included a further comment that the group
believed that the Group of Eight will issue a statement about the
embargo sanctions today.
However, illustrating how rapidly the situation is liable to change,
this input is contradicted by three separate intelligence sources who
now affirm that the drastic sanctions outlined in our two preceding
reports will be implemented tomorrow, Tuesday 12th February 2008,
should access and payment not have been effected by 6.00pm New York
time this date (today). The sanctions are real, and we believe that if
payment/settlement is again aborted, they will be implemented. Period.
RISING TENSION INDICATED BY BUSH’S ‘RETALIATION IN ADVANCE’
Guardian led with a report on Monday 11th February to the effect that
‘Bush orders clampdown on flights to US: EU officials furious as
Washington says it wants extra data on all passengers’.
curiously timed report stated that the Bush Administration is pressing
the 27 EU Governments to sign up for a new range of so-called security
measures for transatlantic travel, including allowing armed guards on
all flights by US airlines from Europe to America (such as may well be
closed down tomorrow – Editor). The Guardian elaborated that ‘the
demand to place armed air marshals onto the flights is part of a travel
clampdown by the Bush regime that officials in Brussels have described
as ‘blackmail’ and ‘troublesome’', etc etc.
the way WE read this report, and its timing, is that the Bush
Administration is, even at this late stage, trying to blackmail its way
out of the bind for which its leadership’s own criminality is solely
responsible. This development should be placed on the negative side of
the ledger right now.
BUSH’S BAGMAN TRIGGERS INCREDULITY AT PARIBAS
‘excuse’ on Saturday was that this ‘Joe Gross’ character, believed to
be Bush’s Bagman, Marvin Davis, whom we believe may be Marvin Bush,
arrives at Paribas in a surprise visit last Friday, as we reported on
10th February, carrying instructions which diverged from all previous
instructions. Prior to last Friday, the general instruction to all the
criminal enterprise banks had been: ‘Go through the motions of
complying with administrative procedures relative to payment, knowing
that the process will be aborted as in the past’, in accordance with
the ‘never-pay’ model developed by the arch financial criminal Dr Alan
Greenspan in collaboration with Godfather George Bush Sr., that we have
described in earlier reports.
The purpose of that model was to ensure that 100% of funds contributed
by investors could remain stolen, along with Ambassador Wanta's funds
and every cent leveraged off the top of them.
But on Friday, all
of a sudden, Bush’s Bagman arrives at Paribas with an actual order to
settle, and for the bank to get on with it without delay. As we
described yesterday, this caused dismay among the bank’s General
Management, because the institution had everything set up to ‘comply’
with the ‘never-pay’ model, and had never expected to be called upon to
procure settlement at all.
Therefore, bank officers were dumbfounded and protested that they could
not comply within the timeframe (namely: DO IT ON SATURDAY 9TH
FEBRUARY, OR ELSE).
We concede that THIS demarche, too,
could have been a deception, but given the overall flood of current
intelligence, we doubt that this is the case. Time will shortly tell.
REITERATION OF THE AGREED-UPON G-8 SANCTIONS AGAINST THE UNITED STATES
The other sanctions which will be applied, failing settlement by 6.00pm
EDT today, include:
All US commercial and military flights to the nine G-10 countries will
be refused landing permission. US carriers have accordingly been
advised to stand by to fly all aircraft home.
Wire transfer payment and receive facilities handling US remittances
involving the embargo-setting countries will be suspended, causing
immense and far-reaching financial, followed by economic, disruption.
International banking will be effectively closed down on Wednesday.
• Saudi Arabia and the 'country level' of
the oil cartel will cease oil deliveries to the United States.
SANCTIONS AGAINST THE UNITED STATES ARE ALREADY TAKING EFFECT
That NONE OF THIS IS BLUFF can now be asserted with complete
Two US Naval vessels attempting to berth in Japan were turned away and
ordered to leave Japanese waters on Sunday 10th February.
Four oil tankers which are located half a day out from Saudi Arabia
have received instructions to stay there until further notice. They
will be ordered to return to Saudi Arabia if the release has not taken
place by 6.00pm EDT TODAY.
President Chavez of Venezuela stated over the weekend that Venezuela
may suspend its oil deliveries to the United States. The ostensible
context of this threat is legal action by ExxonMobil in US, Dutch and
British Courts aimed at the freezing of the assets of Petroleos de
Venezuela (PDV) in order to obtain compensation from Venezuela
following the earlier nationalisation by the Chavez Government of a
large oil project. Chavez explicitly stated that ‘if Bush wants to harm
us, we’ll harm him back’. This matter needs to be considered in the
overall embargo/sanctions context described here and in the two
preceding reports. In other words, if those 4 Saudi tankers turn back
to Saudi Arabia, Venezuelan oil deliveries will not be available to the
United States either.
To elaborate further:
All American commercial and military aircraft will be ordered to leave
foreign locations and to return to their United States hubs in the
event of the settlements being aborted today [see above]. This
information has leaked because all US airlines have been so advised.
This affects all foreign airlines that fly in and out of the United
States as well.
• International banking transactions will
be completely collapsed by Wednesday in the event that the releases
have not been implemented by 6.00pm today.
• The US border with Canada may have to be
It follows that the standard of living of all Americans will suffer a
blow without precedent, and Americans will not know what has hit them.
They will soon find out, when the entire Government is arrested: see
BUSH, CHENEY, ENTIRE CABINET, SUPREME COURT AND CONGRESS WILL BE
further understand that the Group of Eight countries minus the United
States (Canada, Britain, France, Germany, Japan, Russia and Italy)
signed the necessary paperwork with the World Court TODAY which
provides for the prompt implementation of the already threatened
arrests on treason charges of the following:
• President George W. Bush Jr.
• Vice President Richard Cheney
• The entire Bush II Cabinet
• All Members of Congress, including
• The entire membership of the United
States Supreme Court
the light of special information about the US military being ‘fully up
to speed with’ and on top of the rapidly developing situation, it
stands to reason that the military will perform these arrests on behalf
of the agents/agencies acting for the World Court, namely Interpol, MI6
and possibly other unnamed agencies. That is our working assumption.
should be pointed out that all the above are themselves, without
exception, also vulnerable to prosecution not least for breach of the
Misprision of Felony Statute (as indeed is every reader of these
reports who, knowing the facts of these criminal actions, fails to
report them as specified in the Statute). It will be recalled from our
list of Clinton Presidential Pardons that some of those who were
pardoned by former President Clinton had been jailed on Misprision of
Felony charges. It therefore follows that this is BY NO MEANS A DEAD
STATUTE. On the contrary:
U.S. CODE, TITLE 18, PART 1, CHAPTER 1, SECTION 4: MISPRISION OF FELONY:
having knowledge of the actual commission of a felony cognizable by a
court of the United States, conceals and does not as soon as possible
make known the same to some Judge or other person in civil or military
authority under the United States, shall be fined under this title or
imprisoned not more than three years, or both’.
HELLISH KNOCK-ON CONSEQUENCES COULD BE IMMINENT: LINES AT GAS STATIONS
knock-on consequences if the Wanta and other settlements are aborted
today will be quite horrific. Given the idiotic ‘just-in-time’
globalisation procurement system, supplies of everything under the sun
will suddenly dwindle to near-nothing. Prices and costs will go through
the roof as shortages of everything, including food, intensify at once.
Supplies of oil taken from the Strategic Petroleum Reserve will
alleviate the immediate impact of the oil embargo, but gasoline will
have to be rationed, and lines will suddenly erupt at gas stations
around the United States – which is the most politically sensitive of
all developments for any US Government.
will be blamed for the hardships that the American people will abruptly
be called upon to endure. And those hardships will have been brought
about exclusively by the criminal financial operations of the most
corrupt US Administration in history, AND BY NO OTHER FACTOR.
stock market will implode as the banking sector is closed down, banks
will be on their last legs or will never reopen their doors, Wall
Street will look ridiculous and will be seen to be redundant, the
political consequences will be extreme, and heaven knows what grim
social consequences will ensue. We would not be at all surprised to see
racial attacks, including threats against bankers and other capitalists
perceived to be thieves, as the truth of what has been going on seeps
through the bovine resistance of the controlled ‘mainstream’ media,
into the general public domain.
actual state of the US financial system today has been well summarised
by Bob Chapman in his ‘International Forecaster’. What Mr Chapman has
to say rang true with this Editor, but we took steps to obtain a second
opinion from an eminent expert, who said that Chapman’s report was
‘spot on’. In order not to spoil his hyperbole, we append his accurate
description of where the United States is at, to this report, as an
Quite clearly, if one major bank collapses, the
resulting rolling systemic contagion will engulf all vulnerable banks
worldwide. That this may occur in the event of the G-8’s threatened
sanctions being applied against the United States (as has already
started to happen: see above) is a virtual certainty. If the sanctions
go fully into effect, wealth destruction may occur on a scale with no
historical precedent, beggar-thy-neighbour trade warfare will erupt
across the globe, exchange controls will be imposed, and it will hardly
be long before physical warfare ensues, although one cannot yet predict
what precise concatenation of evil events would trigger such an outcome.
U.S. MILITARY ‘FULLY UP TO SPEED’ AND READY FOR WORST CASE SCENARIO
indicated above, the US military is reported by our impeccable sources
to be ‘fully up to speed’ and ready for the worst case eventuality.
Since, by defying the entire international community and continuing to
renege on their formal undertakings and persisting with their endlessly
proven, very closely monitored financial criminality, President Bush
and Vice President Cheney will have acted contrary to their solemn
obligations and against the interests of the United States and the
American people, they will have committed gross treason (not that this
would be anything new) and would in our opinion be certain to be
arrested, along with the entire Cabinet, Members of Congress and the
entire Supreme Court. This is provided for in the documents signed by
the Group of Eight powers minus the United States with the World Court
this morning. The US Supreme Court is in contempt and the clock is
ticking on that score, as well.
Editor of this service and others believe that the wayward
schizophrenic in the White House is perfectly capable, as Adolf Hitler
was, of doing the opposite of what is rational, since he, like Herr
Shickelgruber, is dictated to by ‘familiars’ who tell him when to
agree, when to renege on what he agreed yesterday, and when to stand on
his head. He is also governed by the input of his manic CIA handlers,
who are doubtless working to the DVD’s global calamity agenda. We
therefore face, as we stated yesterday, the most critical global
situation since 1939.
THE THREE OBVIOUS POSSIBILITIES
Obviously, there are
three possibilities: (1) Settlement at last today; (2) Further defiance
by the White House, leading to the promulgation and formalisation of
the sanctions that are already in force tomorrow; (3) Further ‘slide’
in the situation, as in the past.
However we believe that the
international community is so seized of the urgency of the situation
that the third alternative is less likely than either (1) or (2). But
one thing is certain: None of this would have come about had it not
been for EXPOSURE, as the Syndicate never had, as we now know for
certain, any intention of paying any payee a single penny. Ever.
worst case scenario is described here by Bob Chapman in his
‘International Forecaster’. It accurately describes the state of
affairs as it exists today: so the worst case scenario is where we’re
at already. It can only be averted by settlement and prompt
implementation of The Wanta Plan. The Editor has left Mr Chapman’s
engagingly forceful language unchanged with the exception of a mild (if
understandable) expletive, the incidence of which has been somewhat
only comment would be that, in his first sentence, he should have
stated ‘You need look no further than the World Reports website, before
then looking inside ‘the offices occupied by credit managers and loan
underwriters and banks and lending institutions around the world’’. Not
being aware of Wantagate placed Mr Chapman at something of a
disadvantage, although his diagnosis is brilliant and accurate. Because
he didn’t choose to factor The Wanta Plan and the settlements into his
analysis, he implies that the meltdown that he so graphically describes
is unavoidable: whereas while we agree with him that 'it could be', we
also know that The Wanta Plan and the settlements will ‘rescue’ the
situation at the final nanosecond.
The cost of this will be
something approaching hyperinflation in 18 months' time, which will be
attributable exclusively to the serial financial criminality of the
Bushite-Clinton faction of the international geopolitical financial
fraud syndicate. The forthcoming inflationary holocaust will probably
decimate the next US Government, as may possibly be intended. ‘Enjoy’
you're still wondering what the current credit-crunch catastrophe is
all about, you need look no further than the offices occupied by credit
managers and loan underwriters at banks and lending institutions around
the world. Each time one of these poor, unfortunate souls picks up a
loan file, bullets of sweat start to run down their foreheads as their
minds are filled with ominous foreboding and their hearts are gripped
by a deadly mixture of bone-chilling horror and stark, raving terror,
wondering whether this particular loan will be the one that ends their
wavering career and the very handsome salaries and bonuses that they
have become accustomed to receiving over the past several years during
which defaults have been virtually nonexistent. What are they afraid
to a recent article by Jim Willie, there are a total of some 10.4
trillion dollars worth of dollar-denominated bonds of which at least 7
trillion dollars worth are prime AAA and of which about 1.4 trillion
dollars worth are subprime BBB, with the remainder being Alt-A's which
are somewhere in between. He further states that according to the
various bond indices, the prime bonds have lost about 30% of their
value, amounting to a loss of about 2.1 trillion dollars, which Wall
Street refuses to even discuss, while the subprime bonds have lost
about 80% of their value, amounting to a loss of about 1.1 trillion
dollars. And let's not forget the ALT-A's which are kicking in another
cool trillion in losses and which the pirates of Wall Street are still
dancing around much the same way that a bandito's victim would do a
Mexican hat dance around a sombrero while bullets whistle and ricochet
around his wildly moving feet. FINANCIAL ARMAGEDDON, BATMAN, THAT'S A
MIND-BLOWING 4.2 TRILLION DOLLARS OF LOSSES!!!
you read that correctly, that's trillion with a "T" and this combined
total is close to one third of the entire US Gross Domestic Product,
which has just been 'flushed' in a matter of months!
jaw-dropping losses on AAA, ALT-A and BBB paper are greater by a factor
of ten than the grossly understated loss figures that the three stooges
of our financial system, meaning our corrupt government, Wall Street
and corporate America, would have us believe!
unbelievable total of 4.2 trillion dollars of losses is spread around
the globe, and due to our opaque and completely unregulated system of
banking and finance, for which we can thank our farcical, fraudulent,
feckless Fed, no-one knows where the freak any of these losses are or
who the walking-dead victims are! This is like a financial nightmare
adaptation of George Romero's horror classics "Night of the Living
Dead" and "Dawn of the Dead".
this does not even take into account the multiplication of these losses
due to leverage or the further downgrading of AAA paper due to the loss
of AAA status by bond insurers which is the only thing that made many
of these bonds AAA in the first place! If you were a credit manager or
a loan underwriter, would you approve a multi-million or multi-billion
dollar loan to anyone for any reason unless you were absolutely 100%
sure you would get repaid on time?
Every time you pick up a
file, it's like playing Russian roulette with your career for crying
out loud! And you were wondering why we have a credit crunch? We wonder
why any loans get approved AT ALL! In fact, we're starting to feel some
of that bone-chilling horror ourselves as we try to wrap our minds
around the immensity of these problems.
What have these madmen done to the world economy?!
If you are a credit manager or a loan underwriter, you're not looking
at a 70 or 80 percent recovery if one of these zombies is on your
approval list. You're looking at a big goose egg, a big ZIPPO, and we
don't mean the kind you use to light cigarettes! This is where a bevy
of security guards show up in your office and ask you to empty out your
desk after which they quietly escort you out the front door to your car
and insist that you leave the premises immediately.
forbid that anyone should so much as whisper anything about the
potential losses from credit default swaps and interest rate swaps lest
they die of a huge myocardial infarction from merely discussing such
losses, much less trying to comprehend them, because the magnitude and
consequences of such losses are completely unprecedented and beyond the
ken of mortal men!
We are told that there are 450 trillion
dollars of notional bond debt covered by interest rate swaps, which is
about thirty times US GDP. This is sheer madness. We are told in
"studies" that the losses
be limited to about 6%, or "only" 27 trillion dollars [WHICH 'JUST
HAPPENS' TO BE THE WANTA FIGURE: Editor]. That alone is enough to send
chills up and down your spine while your single heart palpitates. But
aren't these the same people that told us the real estate markets were
experiencing a slight downturn and that it would be contained?
didn't they say the same thing about the credit crunch? What if they're
wrong again this time?! What if it's 7%. That's "only" another 4.5
trillion dollars of losses! That's more than all the prime, Alt-A and
subprime bond losses put together (at least so far)! What if it's 20%?
That would be a 90 trillion dollar loss! That's 6 times GDP for Pete's
And what about all the lunatics who bought crazy credit
default swaps without buying any of the underlying bond debt. Don't
they know that in order to make a claim under a credit default swap you
have to turn the security over to the insurer, or you're dead in the
water? And what happens when the amount of the swaps exceeds the debt
that is supposed to be covered. Is everyone supposed to play musical
chairs to see who is left standing without holding a bond to redeem?
anyone involved had so much as a single thought going through their
heads while all this was happening? This credit default swap situation
alone is pure unadulterated lunacy, but we have not even mentioned the
interest rate swaps yet. There's another 600 trillion of notional
principal wrapped up in these weapons of mass financial destruction.
forty times GDP in notional principal. Who was asleep at the wheel
while these puppies multiplied? For every trillion of notional
principal, all those who are on the wrong end of these thermonuclear
devices by only a 1% differential between fixed and variable rates get
to eat 10 billion in losses. When we get double digit inflation due to
rampaging risk reassessment from imploding bonds and credit default
swaps while the Fed attempts in vain to raise rates [SEE PREVIOUS
REPORT: Editor] to stop hyper-stagflation as it reaches full bloom in
its reign of terror, what if the differential between fixed and
variable returns for those on the wrong end of these reserve-vaporizers
rockets to 10%.
is 100 billion per trillion of notional principal. Whew, we sure hope
the big banks who own most of these reserve-destroying financial meat
grinders don't have lopsided trading positions between fixed and
variable rate swaps, but given what we've seen so far, we hold out
little hope for a good conclusion. [Editor: That’s because Mr Chapmen
never read up about Wantagate and The Wanta Plan: just shows what
thought ‘compartmentalisation’ does, doesn’t it?].
are being eaten alive by loan defaults and asset write-downs faster
than the Fed can replace them. That is because the fractional reserve
system Ponzi scheme is now working in reverse and unravelling big-time.
The Federal Reserve and Wall Street made a big blunder and grossly
underestimated the percentage of loan defaults from toxic waste and the
impact that this would have in non-subprime sectors while they grossly
overestimated the liquidity of this kind of maniac paper and falsely
boosted its credit rating.
remember, the Fed cannot control the creation of credit by non-bank
institutions, which are also getting hammered. The banks that dabbled
in toxic waste must either borrow reserves from the Federal Reserve, or
call in a total of demand loans equal to 7 or 8 times the amount of
that have been lost, or they will become insolvent and
have to be liquidated by the FDIC which in the end won't even be able
to pay losses at pennies on the dollar while the entire financial
system comes tumbling down unceremoniously.
That is why the discount
window is wide open. If banks are forced to call in loans, the party is
over. The whole system will implode and deflate. The banks can't even
roll over the paper they used to fund mortgage loans and the government
has had to step in with the FHLB and Fannie and Freddie to replace the
lost loan capital. The Federal Reserve is fighting so many battles on
so many fronts that their heads must spinning like Linda Blair's
character in "The Exorcist".
While all this is happening, the
over six hundred billion in home equity loans that fuelled consumer
spending last year have been completely cut off. Two trillion dollars'
worth of home value has been lost on account of declining home values
as the US real estate market explodes and goes down in flames, and who
knows how much in stock losses has been suffered since the end of 2007?
Does anyone have any money or equity left, we wonder? What will
fuel consumer spending and stop the economy from going into a deep
recession [ANSWER: CONSEQUENECS OF THE WANTA PLAN AND THE SETTLEMENTS:
Editor]. The ISM services sector reading has already completely
while consumer confidence reported for the RBC Cash Index has plummeted
to the lowest levels since the index was created in 2002.
hope does our economy have when the 150 billion stimulus package is
only one quarter of the home equity injections that will be lost for
2008 that helped keep us moving in 2007? We sit here stunned and
comatose as the circuits in our brains are fried by these financial
lightning bolts [Editor: And because we haven’t taken Wantagate on
board]. This whole situation is going to turn into a disaster of epic
proportions from which we may not recover for many, many years, if
HERE THE EDITOR MUST INTERJECT: AND IT'S ALL BECAUSE
CRIMINALITY BECAME THE NORM, IN ACCORDANCE WITH THE 'ANOMIE'
ENVIRONMENT DESCRIBED BY EMILE DURKHEIM (1858-1917).
Move over Japan, we're going to show you
a thing or two about how to implode an economy so that it doesn't
recover for decades! The big banks are going to have to completely
empty the sovereign wealth funds just to stay afloat! After this
utterly magnificent debacle is all over, visitors entering the United
States will be given the following greeting by US customs officials:
to the United Banana Republics of America (UBRA). Please watch your
wallets as former central bankers are known to inhabit these
territories. Due to the EXTREMELY high concentration of unemployed
bankers, brokers, loan originators and real estate agents, the use of
shark repellant is highly recommended. In the UBRA, only gold and
silver coin* is acceptable as payment for goods. If you brought paper
money, that's fine, since you can always use it as fuel to keep warm.
We hope you brought your own food because we don't have any. But if you
want to drink some ethanol, we have plenty of that. It has quite a kick
too! We use it stay inebriated so we don't have to deal with our
problems, which are endless. Be advised that you enter this country at
your own risk. That is because all weapons have been confiscated, so
you're on your own. Have a nice trip!’
*New York stores are reportly displaying 'WE ACCEPT EUROS' signs
the smart money finally gets a grip on all this madness, gold is not
going to through the ozone. Gold is not going into the stratosphere.
Gold is not going to the moon. Gold is not going into the solar system.
Gold is not even going intergalactic. Gold is going inter-dimensional
as it passes through a wormhole and explodes past the Einstein-DeSitter
radius at the outermost bounds of the visible universe! ENDS.
Editor’s Note: We did warn erstwhile friends in the US welfare industry
that if Wantagate failed, they would wind up running soup kitchens.
Unfortunately, that warning went in one ear and out the other, like so
WANTAGATE FILE DATA, INCLUDING STATUTES AND S.E.C. RULES FLOUTED BY THE
CITIBANK MUST PAY $350 BILLION+ INTEREST UNDER U.C.C. REGULATIONS
Uniform Commercial Code: Article 4A – Funds Transfer: Section 4A-305:
LIABILITY FOR LATE OR IMPROPER EXECUTION OR FAILURE TO EXECUTE PAYMENT
If a funds transfer is completed but execution of a payment order by
the receiving bank… results in delay in payment to the beneficiary, the
bank is obliged to pay interest… to the beneficiary of the funds
transfer for the period of delay caused by the improper execution.
stated in our report dated 4th October, we then calculated that the
amount of interest payable to the beneficiary by Citibank, given its
delay in paying out the diverted funds since June 2006, was around $350
billion. This amount is rising BY THE DAY, and is now approaching $400
• [As we revealed at the time] Citibank ‘agreed’ to pay
$352 billion by way of interest, following our publication of the above
statements. However, the Editor, not being a banker, merely made a
rough guestimate at the amount of interest payable by Citibank,
consequent upon its criminal frustration and diversion of the
Settlement funds since June 2006.
The actual amount of interest payable by Citibank as an interest
penalty, if calculated on the basis of overnight rates, might
approximate well over $1.0 trillion. So the institution, having been
made aware of our posting dated 1st November, grabbed the Editor’s
rough estimate of $350 billion, and added a couple of billion on to
make the figure look different. ENDS.