"The Mafia has succeeded in its long-term goal and
has integrated its underground economy with that of the overground.2012 An
international investigation into the London Interbank Offered Rate, or Libor,
revealed a widespread conspiracy by multiple banks - notably Deutsche Bank,
Barclays, UBS, Rabobank, and the Royal Bank of Scotland - to manipulate
interest rates for
to Michele Sindona's early
prediction, the former has thrown sand into the "immense and recondite
machinery" of the latter the more so since even big money-center banks have
adopted Sindona's standards and practices.
Citigroup, JP Morgan,
Barclays, and Royal Bank of Scotland have all pled guilty to anti-competitive
bid-rigging of exchange
An unprecedented number of major banks face criminal
Barclays traders also led the pack in the online chat rooms
dubbed "The Cartel" and "The Bandits Club" in which major banks
colluded to fix the all-important LIBOR, the dominant interbank lending rate
Although the culprits have agreed to pay fines amounting to
$25 billion, the amount is a mere bagatelle compared to the hundreds of
trillions of dollars vested in the notional value of these derivatives." -
very human need to not feel threatened by our immediate environment allows us
to ignore certain realities existent in
do this without the conscious awareness of choosing to ignore.
This is due in large part simple to the
large amount of conflicting data.
Some we sort
some we sort
subconsciously." - AA
"Overconfident judgements are utterly
representative' of those made by professionals in medical care,
financial services -
In fact, physicists,
demographers all suffer
from this bias, even when reasoning about their field of expertise.
When you have a good theory, overconfidence may do less damage.
The problem is people usually
believe they have a good theory." - JD Trout
"Human beings have
a nasty habit of ignoring the cold
hard facts of the present in the hopes of using
a magical elixir for future
want to believe that disaster is a mindset, that it is a boogeyman under
their bed that can be defeated
through blind optimism." - Brandon Smith
Bonds and stocks are both
securities, the major difference between the
two is that (capital) stockholders have an equity stake in a company (owners),
whereas bondholders have a creditor stake in the company (lenders).
Bondholders have priority over
the event of bankruptcy.
Secured creditors have
priority over bondholders in the event of bankruptcy.
futures contract is a legal contract
to buy or sell an asset at a predetermined price at a specified time in the
A futures option is an option contract to purchase a
option is a contract to sell a specified amount of
a fungible security at a
pre-determined price within a specified time frame.
A call option is a
contract to buy a specified amount of a fungible security at a a specified
price within a specific time period.
A derivative contracts value is based on a
fungible asset or asset index.
Futures contracts, forward
swaps, and warrants are commonly used
default swaps are used by lenders as a
hedge against default.
Interest rate derivatives are contracts to
exchange a notional amount of money on an agreed upon interest rate - typically
a Cost of Funds Index.
stock option is a
derivative as value is "derived" from stock.
Derivatives can be used to
hedge or as
Three top securities brokers
had offices in the World Trade
Center, Cantor Fitzgerald, Euro Brokers and Garbon Inter
Flight 11 struck just under the floors where Cantor Fitzgerald
An explosion in the vacant 23rd floor of the
North Tower, right
under the offices of the FBI and Garbon Inter Capital on the 25th floor caused
a huge fire from the 22nd through the 25th floors.
Hundreds of billions
of dollars of securities stored in a vault where destroyed in an explosion in
the basement of the North Tower.
Flight 175 slammed into the 78th floor
of the South Tower just below the 84th floor where Euro Brokers were located.
Brian Clark, the manager at Euro Brokers, heard numerous explosions,
apparently unrelated to what he referred to as the oxygen-starved fire caused
by the plane crash.
Richard Wagner, a data retrieval expert, estimated
that more than $100 million in illegal transactions appeared to have rushed
through the WTC computers before and during the disaster on September 11,
Deutsche Bank employee verified that approximately five minutes before the
first plane hit the tower that the Deutsche Bank computer system in their WTC
office was seized by an outside, unknown entity.
On September 26, CBS reported that the amount was more than
$100 million and that seven countries were investigating the irregular
Two newspapers, Reuters and the New York Times, and other
mainstream media reported that the
CIA regularly monitors
extraordinary trades and economic irregularities to ascertain possible criminal
activities or financial assaults.
In fact, the CIA uses
PROMIS, to scrutinize
The Federal Reserve, untouched by the crisis
at its downtown offices (as they had everything backed up to a remote
location), assumed emergency powers that
$240 billion in
securities are electronically cleared.
"The World Trade Center was destroyed just days
after a heightened security alert was lifted at the landmark 110-story towers,
security personnel said yesterday [September 11]. Daria Coard, 37, a guard at
Tower One, said the security detail had been working 12-hour shifts for the
past two weeks because of numerous phone threats. But on Thursday [September
6], bomb-sniffing dogs were abruptly removed." - NY Newsday
"On the weekend of 9/8, 9/9 there was a 'power
down' condition in WTC tower 2, the South Tower. This power down condition
meant there was no electrical supply for approx 36 hrs from floor 50 up ... Of
course without power there were no security cameras, no security locks on doors
and many, many 'engineers' coming in and out of the tower." - WingTV
1982 ICTS International N.V.
founded by former members of the Shin Bet, Israel's internal security agency,
and El Al airline security agents.
1993 to June
Marvin P. Bush served on the Board of Directors of
Securacom which provided security for the World Trade Center,
United Airlines, and
Securacom, later Stratesec, which defined itself as a
"single-source" provider of "end-to-end" security services, including
everything from diagnosis
of existing systems to hiring subcontractors to installing video and
Securacom was backed by KuwAm, a Kuwaiti-American
investment firm on whose board Marvin Bush also served.
CEO Barry McDaniel, Securacom handled some of the security at the World Trade
Center up until 911.
Securacom was ordered to change its name, as the result of
a 1995 name infringement suit brought by SecuraComm, a smaller Pittsburgh-based
The court found a deliberate effort by Securacom to
financially "bury" the plaintiff, Ron Libengood, and "take everything he had"
by filing a barrage of frivolous arguments against Libengood and his attorneys
in multiple jurisdictions. Appellate courts opined that Securacom "tried to
prevail by crushing Libengood and his corporation" in a "sweeping attempt to
beat a financially weaker opponent through the
use of vexatious litigation."
The company changed its name to "Stratesec" in 1998.
was delisted from the American Stock Exchange in July 2002 due to inability to
make financing payments to ES Bankest, its primary shareholder.
1998ICTS International N.V. acquires Huntleigh USA which
provides airline passenger screening services at 47 US airports, including all
the international aviation gateways in the USA. Israeli citizens Menachem
Atzmon and Ezra Harel take over management of security at the Boston and Newark
11, 2001 Former Deputy Director of the FBI John P. O'Neil takes over his
new job as security chief of the World Trade Center.
O'Neil resigned from the FBI after 31 years of service after
Barbara Bodine barred him from following up his
investigation of the
attack on the US$ Cole.
Jim Pierce, a Bush cousin and
managing director of the AON Corporation watches the South Tower from the
nearby Millennium Hotel.
Pierce arranged a conference to be held on
105th floor this morning.
However, the previous night, the conference is
moved to Millennium Hotel.
"More than 100 securities cases involving losses of
$400 billion were filed against financial firms last year, according to
Cornerstone Research." - Vikas Bajaj 01/19/08
"Let's hope we are all
wealthy and retired by the
time this house of cards falls." - Standard & Poor analyst 'texting' about
"Moral hazard" is a term
commonly applied to financial contracts, under which
one party is obliged to pay
another money if a specified event occurs.
Moral hazard refers to
situations in which the very existence of the contract
alters the behavior of one party
probability of the hazard actually taking place.
December 2008 A
quarterly report issued by the
Bank of International Settlements
states the total outstanding notional amount of over-the-counter (OTC) derivatives in the world is
$683 trillion while the gross market value for those same instruments was $22
Bank like investment strategies - such as the use of
leverage and financing long-term investments
with short-term debt - became common outside the safety net provided by
deposit insurance and
As a result nonbank institutions became vulnerable to
lost confidence their sources of funds could dry up.
"Neither regulators nor market participants can easily
assess the true financial condition of firms that hold or trade these
Since large parts of
derivatives markets are unregulated, there
is a global web of financial claims and
counterclaims that is essentially invisible to financial supervisors and
market participants alike.
Key characteristics that produced this
systemic vulnerability include:
the use of complex financial
instruments, whose value is often linked
by complex formulae to the value of other instruments or financial
of leverage, or borrowed funds, which permits larger market positions with
a given capital base, increasing potential profits (and losses);
the practice of moving risky financial
speculation off the books, into
independent accounting entities, so that the results do not appear in the
financial accounts of the parent financial institution." - Mark
"There was nothing accidental about the
"This has gone beyond Greece, at this point, the
markets smell the blood, and they're picking off each weak link." - Win Thin,
senior currency strategist at
Harriman commenting of the Greek meltdown
"I think virtually everybody associated with the
financial world contributed to it. Some of it stemmed from greed, some from stupidity, some
from people saying the other guy was doing it." - Warren Buffet on the
"Over the last 20 years American financial
institutions have taken on more and more risk, with the
blessing of regulators, with not a word
from rating agencies, which, incidentally, are paid by the issuers of the bonds
International, Fannie Mae,
Freddie Mac, General Electric and municipal bond guarantors
Ambac Financial and MBIA had triple-A rating.
In pursuit of their own
short term earnings, they did exactly the opposite of what they were meant to
do: rather than expose financial risk they systematically disguised it. " -
Michael Lewis & David Einhorn
2007 S&P, Moody's
and Fitch control 98% of the US debt ratings market.
From the start of
2007 until September 2008
Service downgraded more than $449 billion in marketable securities similar
to Gemstone VII or 82% of all those outstanding.
downgraded more than three-quarters of collateralized debt obligation securities it
once rated AAA.
The three credit rating corporations graded Lehman
Brothers debt A-1 the day it filed for bankruptcy.
State regulators depend on
credit grades to monitor the safety of bonds held by US insurance companies.
The rating companies reaped a bonanza in fees as they worked with
financial firms to manufacture collateralized
On Sept. 16, one day after the three credit
rating firms downgraded American International Group double-A score by two to
three grades, private contract provisions that it had with banks around the
world based on credit rating changes forcing the insurer to hand over billions
of dollars of collateral.
Credit raters are paid by the companies whose
debt they analyze so ratings will always reflect a bias.
are likely to charge $400 million in fees to taxpayer's for TALF credit
"To promote competition, in the 1970s ratings
agencies were allowed to switch from having investors pay for ratings to having
the issuers of debt pay for them.
That led the ratings agencies to
compete for business by currying favor with investment banks that would pay handsomely
for the ratings they wanted. Wall Street paid as much as $1 million for some
ratings, and ratings agency profits soared.
This new revenue stream
swamped earnings from ordinary ratings." - Kevin G. Hall
Moody's had revenues of $800.7 million; in 2005, they were up to $1.73 billion;
and in 2006, $2.037 billion.
The exploding profits were fees from
packaging and granting the top-class AAA ratings, which were supposed to mean
they were as safe as US government securities." - Lawrence McDonald
"Ratings agencies abjectly failed in serving the interests of
They've benefited from the
monopoly status achieved with a
tremendous amount of assistance from regulators." - SEC Commissioner Kathleen
Five days before filing for bankruptcy
Richard Severin Fuld Jr. assures
investors that Lehman Brothers has $42 billion in
"How does $42 billion
vanish in five days. Did Lehman officers know of harbingers of
doom they weren't
sharing?" - Roger Parloff
September 2008 Until
September, the month of the Lehman Brothers
bankruptcy, the Federal Reserve had held the expansion of the
Monetary Base virtually
US Treasury Secretary Timothy
Franz Geithner, decides to let
fail "to teach a lesson".
On October 7, 2008, the Federal Reserve
announced that it was using its emergency authority under Section 13(3) of the
Federal Reserve Act to establish a Commercial Paper Funding Facility.
By the end of October, the Federal Reserve had purchased more than $100
billion in commercial paper.
This web site is not a commercial web site and
is presented for educational purposes only.
This website defines a new
perspective with which to engage reality to which its author adheres. The
author feels that the falsification of reality outside personal experience has
forged a populace unable to discern propaganda from
reality and that this has been done purposefully by an
international corporate cartel through their
agents who wish to foist a corrupt version of reality on the human race.
Religious intolerance occurs when any group refuses to tolerate religious
practices, religious beliefs or persons due to their philosophical ideology.
This web site marks the founding of a system of philosophy named The Truth of
the Way of the Lumière Infinie - a rational gnostic mystery religion
based on reason which requires no leap of faith, accepts no tithes, has no
supreme leader, no church buildings and in which each and every individual is
encouraged to develop a personal relation with the Creator and Sustainer
through the pursuit of the knowledge of reality in the hope of curing the
spiritual corruption that has enveloped the human spirit. The tenets of The
Truth of the Way of the Lumière Infinie are spelled out in detail on
this web site by the author. Violent acts against individuals due to their
religious beliefs in America is considered a "hate crime."
This web site
in no way condones violence. To the contrary the intent here is to reduce the
violence that is already occurring due to the international corporate cartels
desire to control the human race. The international corporate cartel already
controls the world economic system, corporate media worldwide, the global
industrial military entertainment complex and is responsible for the collapse
of morals, the elevation of self-centered behavior and the destruction of
global ecosystems. Civilization is based on coöperation. Coöperation
does not occur at the point of
American social mores and values have declined precipitously
over the last century as the corrupt international cartel has garnered more and
more power. This power rests in the ability to deceive the populace in general
through corporate media by pressing emotional buttons which have been
preprogrammed into the population through prior corporate media psychological
operations. The results have been the destruction of the family and the
destruction of social structures that do not adhere to the corrupt
international elites vision of a perfect world. Through distraction and
coercion the direction of thought of the bulk of the population has been
directed toward solutions proposed by the corrupt international elite that
further consolidates their power and which further their purposes.
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individual human men and women that, through their writings, showed the
capacity for intelligent, reasonable, rational, insightful and unpopular
thought. All factual information presented on this web site is believed to be
true and accurate and is presented as originally presented in print media which
may or may not have originally presented the facts truthfully.
Opinion and thoughts
have been adapted, edited, corrected, redacted, combined, added to, re-edited
and re-corrected as nearly all opinion and thought has been throughout time but
has been done so in the spirit of the original writer with the intent of making
his or her thoughts and opinions clearer and relevant to the reader in the
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