Should we trust police officers? Are police officers allowed to lie to you? Yes the Supreme Court has ruled that police officers can lie to the American people. Police officers are trained at lying, twisting words and being manipulative. Police officers and other law enforcement agents are very skilled at getting information from people. So don’t try to “out smart” a police officer and don’t try being a “smooth talker” because you will lose! If you can keep your mouth shut, you just might come out ahead more than you expected.

Sunday, January 24, 2016

Saudi Arabia Plunges Wall St. and world markets into Apocalypse Now

By Christopher R Rice Underground Newz


Just how much of America’s debt does Saudi Arabia own?

That question -- unanswered since the 1970s, under an unusual blackout by the U.S. Treasury Department -- has come to the fore as Saudi Arabia is pressured by plunging oil prices and costly wars in the Middle East.

In the past year alone, Saudi Arabia burned through about $100 billion of foreign-exchange reserves to plug its biggest budget shortfall in a quarter-century. For the first time, it’s also considering selling a piece of its crown jewel -- state oil company Saudi Aramco. The signs of strain are prompting concern over Saudi Arabia’s outsize position in the world’s largest and most important bond market.

In 1982 America was the largest creditor nation on earth. By 2005, the U.S. was the largest debtor nation on earth. In 1980, the national debt had yet to eclipse the $1 trillion mark and had accumulated around $850 billion during the first 204 years of this republic. By 2007 or 24 years later, our debt had risen to more than $7 trillion and continues straight up. Today, The U.S. government reports its debt at more than 17 trillion dollars, China alone purchases in excess of $1 billion per day of our debt. Japan owns billion and billions of U.S. debt instruments as do the Arabs and so on. But, these are reasonable countries and I believe that they would understand that we are broke and just forgive all of those billions; right after we gave them California and Yellowstone Park.


Saudis dump massive amounts of securities in the markets

A big risk is that the kingdom is selling some of its Treasury holdings, believed to be among the largest in the world, to raise needed dollars. As a matter of policy, the Treasury has never disclosed the holdings of Saudi Arabia, long a key ally in the volatile Middle East, and instead groups it with 14 other mostly OPEC nations including Kuwait, the United Arab Emirates and Nigeria. For more than a hundred other countries, from China to the Vatican, the Treasury provides a detailed breakdown of how much U.S. debt each holds.

“It’s mind-boggling they haven’t undone it,” said Edwin Truman, the former Treasury assistant secretary for international affairs during the late 1990s, and now a senior fellow at the Peterson Institute for International Economics in Washington. Because relations were rocky and the U.S. needed their oil, the Treasury “didn’t want to offend OPEC. It’s hard to justify this special treatment for OPEC at this point.”


Like maggots eating a carcass in the dark

Unfunded debt is $127 trillion at current levels…and rising hourly. This is the debt that we owe to ourselves in the way of Medicare, Social Security, government retirements and so on. In other words, promises that can’t be kept and so they won’t. As a reminder, the unfunded debt is greater than the total wealth of all American households. Many people want to blame one administration or another because that’s easy. It isn’t true, it's not any one administration, the system isn't broke, it's rigged.

This is a form of destructive economic management at a level of graft & corruption that has NO parallel. There’s nothing comparable to that in history.


The special arrangement, born out of the 1973 oil shock following the Arab embargo, is just one small concession among many that successive U.S. administrations have made over the years to maintain America’s strategic relationship with the Saudi royal family -- and its access to the kingdom’s deep reserves of oil.



The exception extends to 12 other countries in the Treasury’s oil-exporter group, all from the Middle East or Africa. Based on aggregate data released this week, that group has trimmed its stakes by a few billion dollars since March and held $289 billion as of November.

Because its holdings are believed to be the largest, Saudi Arabia’s moves have drawn scrutiny, particularly as other central banks in emerging markets sell Treasuries to raise cash in defense of their currencies. (The Treasury doesn’t break out private and public holdings, but its disclosures say about two-thirds of foreign holdings are held by official institutions such as central banks.)


 
“You need dollars if you’re an oil producer, you want to make sure you have dollars on your balance sheet,” said Sebastien Galy, Deutsche Bank’s director of foreign-exchange strategy, who suggests SAMA could be raising cash by liquidating riskier investments such as stocks, real estate and private equity. Holding dollars also makes sense as a hedge against the plummeting price of oil, which is priced in the U.S. currency.

When America scrapped the Gold Standard we replaced it with the petrodollar. This has left America vulnerable in ways our fore fathers never dreamed.


As the administration and Congress argue over cuts in social programs, inequality in America grows more extreme each day. Even the great financial crash of 2008 didn’t derail this trend. The richest 400 Americans, for example, increased their wealth by 54 percent between 2005 and 2010, while the median middle-class family saw its wealth decline by 35 percent.

It’s not the result of mysterious global forces, or technology, or China, or structural problems concerning the skills and education of our workforce.  Rather, it is the direct result of policy choices made by Democrats and Republicans alike.

The bailouts resurrected high finance and the inequality it inevitably spawns. Instead of putting our foot back on the neck of finance, we’re talking about slashing social programs. Rather than dramatically increasing taxes on the super-rich through a wealth tax, we’re debating how to slash Social Security and Medicare benefits.


The U.S. policy (includes tax policy, financial deregulation, trade policy, anti-labor policy, and much more.) for the past 40 years has been aggressively dedicated to shifting income share away from the poor and middle class and into the pockets of the already rich.

During an era in which the rich were getting richer anyway, we deliberately set out to reduce their tax burdens so that they could become even richer.

• In 2010, the top hedge fund manager
earned as much in one HOUR as the average (median) family earned in 47 YEARS.

• The top 25 hedge fund managers in 2010
earned as much as 658,000 entry level teachers.

• In 1970 the top 100 CEOs made $40 for every dollar earned by the average worker.  By 2006, the CEOs
received $1,723 for every worker dollar.

As Citizens for Tax Justice and USPIRG
reported, 280 large and profitable corporations contributed $216 million to Congressional campaigns over four election cycles and got nearly a quarter of a trillion dollars in tax breaks.

That’s a terrific investment for them – a return of more than a thousand to one – but it’s a bad deal for the American people.


In fact, US Corporations pay less tax as a percentage of the GDP than corporations in Canada. Or Japan, South Korea, Norway, Luxembourg, New Zealand, Israel, the Czech Republic, Sweden, Belgium, Switzerland, the United Kingdom, Denmark, Finland, and Italy.

(Source: OECD
StatsExtract interactive database.)

Tax breaks for Exxon Mobil: $4.1 billion between 2008 and 2010. The company paid no taxes at all in 2009.)

In 2010, corporate giant GE made a profit of $14.2 billion but it paid not a penny in taxes because the bulk of those profits, some $9 billion, were offshore. In fact, GE got a $3.2 billion tax benefit.

The 10 most profitable U.S. companies
paid an average federal tax rate of just 9 percent last year. The group includes heavyweights Exxon Mobil, Apple, Microsoft, JPMorgan Chase and General Electric.


Which Foreign governments own the most U.S. debt?
Answer: Here is the Top 10 (as of Oct/2015)

1. China, Mainland, $1254.8 billion dollars
2. Japan, $1149.2 billion dollars
3. Carib Bkg Ctrs, $322.0 billion dollars
4. Oil Exporters*, $291.4 billion dollars
5. Brazil, $255.0 billion dollars
6. Ireland, $232.9 billion dollars
7. Switzerland, $225.6 billion dollars
8. United Kingdom, $210.6 billion dollars
9. Hong Kong, $197.0 billion dollars
10. Luxembourg, $188.2 billion dollars


For more- National Debt Clock


END DEFICIT SPENDING (once and for all)

Make it illegal.

Politicians should only be allowed to spend the amount they collect.

In case of an emergency this law can not be broken or bent. It should be required that politicians come before the people and ask for a tax increase whenever the government needs more funds than expected. 

No more deficit spending for federal, state or city governments.

Profitable corporations need to start paying their fair share and stop taking government subsides, tax rebates and tax shelters/loopholes.

Every administration claims to be making cuts to defense spending and yet every year the military budget grows larger and larger.

For more: What makes America #1?



Daily we see that an elected body can trample rights the same as a sitting monarch or dictator.

The soft tyranny we endure now on a daily basis has turned scores of Americans into reluctant activists, no longer satisfied with participation in mundane “demonstrations” that prove and accomplish nothing.


We live in a time when elected politicians ignore the needs of their constituents; where the judiciary and police institutions will not uphold the rights of citizens; where the media are afraid to report the truth; where lawlessness abounds and ordinary people are left unprotected and defenseless against the rapacity of a few. The answer to our dilemma is for people of courage to actively help each other.

Unions, corporations and the major parties have failed to deal with pressing matters of war and peace, income inequality, crime and punishment and the meaning of citizenship itself. It has fallen to the American people to set things right!

“Government is instituted for the common good; for the protection, safety, prosperity, and happiness of the people; and not for profit, honor, or private interest of any one man, family, or class of men; therefore, the people alone have an incontestable, unalienable, and indefeasible right to institute government; and to reform, alter, or totally change the same, when their protection, safety, prosperity, and happiness require it.” -John Adams, Thoughts on Government, 1776


Individually we find that we are powerless. Our choices are limited. Our effectiveness diminished.

Don't allow politicians to divided and conquer you, Republicans, Democrats, Independents and non-voters UNITE.

You’re Americans first!
 
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