Thank you…Happy New Year


We’ve come to the end of 2015!


It’s been a turbulent 12 months of ‘bizarre‘ events in Malaysia and across the Earth. I see it as the year that sparked off the changes to come in 2016 and the following years.

I wish to thank all my friends, supporters and visitors of this blog and express my sincere gratitude to each and everyone.

Thank you to everyone at WordPress for providing the best blog platform. You guys are fabulous!

For those who might like to view the annual report of this blog, WordPress has created a beautiful  “Your 2015 Year In Blogging” for Satu Insan – Malaysia.

wp2015report

May the new year bring you love and joy … H A P P Y  2 0 1 6  to all of you!

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Emergency Christmas Eve Message: January 1st is Doomsday! Only an FDR Action Can Save You.


Larouche Pac

President Barack Obama and the entire U.S. Congress have betrayed you, the American people, by refusing, out of cowardice, to take the necessary emergency actions to prevent the greatest financial and economic crash — far worse than 1929 and 2008 — from happening in the hours and days just ahead. Unless you, the American people, stand up and demand immediate action, the nation and much of mankind is facing catastrophe at the start of the New Year.

The entire trans-Atlantic financial system is about to blow. In just the past few weeks, $15 billion in junk and investment grade bonds have been wiped out. This is but a harbinger of an imminent total crash of the trans-Atlantic financial bubble. As of Jan. 1, 2016, a $72 billion debt bubble is set to explode in Puerto Rico. Congress had the opportunity to act to prevent this before leaving town, but failed to act.

An estimated $5 trillion in debt, tied to the collapsing U.S. domestic shale oil and gas sector is blowing up. In Western Canada, this bubble has already been shattered, triggering the loss of 100,000 jobs in 2015 – the equivalent of 750,000 jobs lost in the United States — a crash of the real estate market, and a social breakdown. That same crisis is coming to the United States, at an accelerating rate, but on a much larger scale.

In Europe, starting on Jan. 1, 2016, new laws go into effect, eliminating all protections for bank depositors, who will have their savings stolen under “bail-in” regulations, as has already happened in Cyprus. More than 10,000 Italian depositors had their savings “bailed in” (expropriated] in the collapse of four banks this month. The same measures are included in the Dodd-Frank bill here in the United States. If your bank collapses, your life savings can be stolen to save the bank. It can and will happen here, thanks to the cowardice and corruption of your elected officials, who have kept you in the dark and violated their oaths of office.

Congress had the chance, before leaving town, to prevent this now onrushing crisis. They were warned. They could have passed bills, already introduced in both Houses of Congress, to reinstate Glass-Steagall, the FDR legislation that broke up the Depression era too-big-to-fail banks, by separating commercial banking from all of the gambling activities. But Congress was bought out by Wall Street and failed you. President Obama is a wholly-owned creature of Wall Street and London. Wall Street is hopelessly bankrupt, and they intend to cling to power by stealing your money, wiping out your health care, and shutting down what is left of the real economy. Within days or weeks, you could be facing food shortages, hyperinflation and a complete breakdown of everything you think of as normal.

President Obama, on behalf of Wall Street and London, is also provoking confrontation with Russia, driving the world towards global war, a war that some top American and Russian military commanders warn could rapidly become a war of thermonuclear extinction.

On Jan. 1, 2016, under U.S. and International Monetary Fund approval, Ukraine will default on $3 billion in debt to Russia, an act of open Western provocation against Moscow, on top of the already ongoing sanctions, the eastward expansion of NATO and other acts of direct military provocation.

This is all deadly serious. The world is on the cusp of a worse than Great Depression crash and a new world war. You must now act because your elected officials have abandoned you out of cowardice and corruption. They, along with President Obama, deserve your derision and anger, for their cowardly behavior.

There are solutions readily available. Wall Street must be shut down immediately. Not one penny more to bail out these criminals! Congress must remove Wall Street puppet Barack Obama from office, through impeachment or through invoking the 25th Amendment, which provides for the removal of a President from office who is mentally unfit to continue to serve. Glass-Steagall must be immediately reinstated, and a series of initiatives must be taken, all modeled on what the great American President Franklin Roosevelt did in his first months in office, to create millions of productive jobs, rebuild the nations collapsed infrastructure, and restore the nation’s dignity.

Congress can take these actions in a matter of hours, but they will only act in time if you wake up and demand it.

The alternative is Hell on Earth, by the start of the New Year. Do you, your friends, your neighbors, have the moral fitness to survive? That is the question on your table this Christmas Eve.

Join us at 8 PM eastern Wednesday night for an emergency webcast event featuring Jeff Steinberg & Matthew Ogden, followed by a live Fireside Chat discussion with Lyndon LaRouche at 9 PM. These back to back presentations are part of an emergency mobilization Mr. LaRouche launched Tuesday evening to marshal the sane and patriotic forces in the United States and Europe to handle the blow out of the transatlantic financial system on the eve of the New Year.

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Malaysia reaps what UMNO sows


New Mandala

UMNO-assembly-440

In another display of sycophancy and entrenched avarice, Malaysia’s long-time ruling party tightens its grip over the nation.

In spite of the presence of the prickly former prime minister Dr Mahathir Mohamad and recently sacked deputy prime minister Muhyiddin Yassin, last week’s biggest show in Kuala Lumpur proved a total fizzler.

Both men, seriously aggrieved, were royally ordered gagged from speaking at the annual UMNO convention by Najib Razak, the party’s president and scandal-plagued premier of Malaysia. Compared to the Malay party’s previous summits, this year’s was so tame it very nearly sent the audience into a coma.

The meeting limped from irrelevance to more irrelevance. It struggled to make any kind of sense. Understandably so, too.

UMNO’s credibility and legitimacy continues to wade in the depths of the muck-wracked Klang River. Never mind Najib’s display of ‘coolness’, humility, magnanimity, and all of his false bravado. ‘Bad news’ — one of the many stamps of his ‘government’ — was never too far away.

On the eve of winding up the marathon five-day soap-opera and associated windbagging, the heavily commodity-linked local currency, the ringgit, slipped past the US$4.33 mark. It barely moved on the final day. Foreign currency market predictions point the ringgit to an agonising US $4.50-$4.70 value range in 2016. So much for confidence in Najib who, curiously, is (still) Malaysia’s finance minister.

Amid the pitiable charade, though, were some light moments that were almost comedic. Thankfully.

One came courtesy of Khairy Jamaluddin, UMNO Youth leader and youth and sports minister. Khairy is always in his element when given the soapbox. And he certainly did not disappoint his legion of fans. He had one issue he simply had to get off his chest, and he did it in style.

In one breath he condemned those in UMNO who were working on ripping apart the Malay hegemonic party and its historical centrality and legacy in Malaysia’s political, social, economic and religious life.

Such censures are ‘standard issue’ anywhere in the world, even among Western democratic states. In the very next breath, like a woman scorned, Khairy beseeched Muhyiddin — who may yet face expulsion from UMNO — not to “divorce” Najib. Why break up the family, he pleaded.

This display of grandiosity, and effort to be seen as UMNO’s crisis mediator and martyr, was stunningly fatuous, utterly shameful, and thoroughly opportunistic. It was also most unsurprising and uninspiring. Khairy reads the political wind the way free-market economists read tea-leaves for their often off-the-chart forecasts.

His communion merely re-affirmed UMNO’s ideographic rituals in the spirit of its unreconstructed Malay feudalism. It also averred the infantile sycophancy that generally underscores Malaysia’s racially-mired political parties. This is where, and when, all semblance of intelligence inevitably goes AWOL. To be sure, the growing Malay divorce rate would have eased Khairy’s senseless fear of separation as anything but normal.

What was Khairy Jamaluddin’s game with his supplication toward Muhyiddin Yassin? It was his rendition to UMNO diehards of his entirely populist Malay-ism, his Melayu-ness credentials, all in the hope of cementing his position in the party’s hierarchy at a time when UMNO’s internal politics are so fluid that they threaten to tear out its innards. Besides, Najib is so volatile he could well sacrifice Khairy for an unbending, unquestioning loyalist.

Targeting Muhyiddin to make his peace with Najib typically illustrates Khairy’s political cunning. He has sided with his boss who, for now at least, appears to hold all the aces and is playing them close to his chest. This makes Najib’s underlings incredibly nervous. Khairy has always shown he crooks to the political breeze as easily as a gymnast. So far as he is concerned, he is laying down tracks for a possible tilt at becoming PM sometime in the future.

Kowtowing to one’s political masters is one element of track-laying, and a very necessary part of it, regardless of UMNO having become decidedly rudderless, leaderless, and more menacing. Kowtowing is not unusual when UMNO actively promotes, if not demands, sycophancy of its rank and file, especially of its cadre class, the way the Chinese Communist Party always has of its own.

It is no more unusual than the rather silly debates in Malaysia over whether UMNO will remain the most dominant political party in the country, having further relegated its racially-exclusive coalition partners in Barisan Nasional to a status worse than ‘minnow’ while the political opposition is hopelessly in  disarray, nearing a second and permanent fracture.

There is also no disputing the fact that anybody, much less Khairy, is about to ease back the lever of UMNO’s historical hegemonic project. The party has far too much to lose. Winning power and control of the ‘central government’ is not, nor was it ever, since 1969, the main game of ‘governing’ for all ‘Malaysians’, let alone the Malays, other than in name.

Khairy understands all this very well. In the parlance of the historical-political sociologist Charles Tilly, state-making and state capacity come not solely and strictly from electoral power, although it helps. In Malaysia federal elections are perennially rigged and voters routinely defrauded, with the Malaysian Election Commission, a branch of the UMNO bureaucracy, lending a hand.

State-making and state capacity emerge from entirely different sources, namely Malay feudalism, and the vast system that powerfully engenders and promotes a corrupt network of patron-client relationships and class re-alignments. Half of these networks remain necessarily in their agri-traditional form; the other half has ‘modernised’ alongside the development of Malaysian capitalism.

Think of Malaysia’s patronage system as UMNO’s personal central bank — one that has expanded exponentially since the early 1980s under Mahathir who promoted and nurtured national avarice as Malaysia’s national sport or religion among its ruling political class and business cronies by an equal click.

This is the very system Khairy will continue to defend and promote to ensure his place closer to the apex of political power or structures of power that would launch him into making a play for the UMNO’s central leadership. Khairy ingratiating himself to Najib is clear and understandable.

What is most unclear is his self-proclaimed reformist zeal. That record does not augur well, however.

Manjit Bhatia is head of research at AsiaRisk, an economic and political risk consultancy firm.

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RIP-OFF BY THE FEDERAL RESERVE


Covert Geopolitics

“The economic scheme in the U.S. of creating fiat book-entry money via T-securities in the amount of the principal of the security with a promise to repay the principal PLUS the interest (i.e., deficit spending) is impossible. The interest is never created.

The debt must continually be increased to pay interest on earlier securities or the scheme will collapse.”

View original post 6,755 more words

WITH CRIMINAL INTENT: Big Banks Caught Using Credit Default Swaps To Destroy Nations – By Jeff Nielson


Reblogged on WordPress.com

Source: WITH CRIMINAL INTENT: Big Banks Caught Using Credit Default Swaps To Destroy Nations – By Jeff Nielson

At the beginning of 2010, readers were presented with what was (at the time) merely a theory. The Big Bank crime syndicate was engaged in the serial manipulation of credit default swaps, in order to (among other things) destroy the economies of entire nations

This Week: Shut Down Wall Street, No More Suicides!


Larouche Pac

This Week: Shut Down Wall Street, No More Suicides!

With so-called “junk debt” markets plunging and experts warning of a “riot in the Wall Street casino” this week if the Federal Reserve raises rates, EIR Founding Editor Lyndon LaRouche made a very strong proposal yesterday; indeed, a demand on the elected representatives and citizens of the United States.

LaRouche said: “Close in on this and shut this Wall Street casino down, this week. Remember what is the effect on the people of this kind of crash. We cannot have more suicides, or any more of what happened in Italy last week.”

Italy is in an uproar since an Italian citizen committed suicide after an insolvent bank expropriated all his savings in an outrageous “bail-in” procedure, which also expropriated many others across four failing banks. This infamous “Cyprus-style” procedure has been repeatedly used in Europe as banks collapse, and more expropriations are coming. “People have been being murdered by their banking systems,” as LaRouche put it.

In the United States the sudden “junk debt collapse” is only a harbinger of a Wall Street collapse worse than 2008, with worse impacts on human livelihoods on a global scale.

LaRouche added:

“We cannot allow it to continue, you have worthless accounts, of so-called debt “assets” which are in collapse, and they’re being used to kill people’s income, their employment, potentially their food supply, and even to kill them. If you don’t shut down these Wall Street ‘funds,’ now, you will see what has just happened in Italy, on a grand scale.”I mean it is an ‘edge of death’ situation, if we don’t shut down those pretended assets. Close down the Wall Street system, bankrupt it as Franklin Roosevelt did during his Presidency.

“Then, countries have to create national credit for productivity and employment, again as Roosevelt did.”

It is Barack Obama who has blocked restoration of the Glass-Steagall Act, which is the key to bankrupting Wall Street and allowing productive credit to take effect on the economy.

The same Obama has brought in the “Paris climate agreement,” so-called, which — if it were to be carried out — would reduce the economy’s ability to support human life, by 80-90% in the next 35 years.

“This is a bold human genocide if allowed to occur,” LaRouche said. We can’t allow it to occur.

“That means closing out Wall Street — and that includes Donald Trump — and getting Obama out. Good people in both political parties can agree, to move the responsible authorities in Congress to get these objectives done.”

SUPPORTING MATERIAL

‘Riot in the Casino’ This Week?

That the was the forecast of former Reagan Administration budget official David Stockman, referring to the Federal Reserve’s apparent intention to raise interest rates — for the first time in 10 years — in the teeth of an accelerating junk-debt and commodity price collapse.

Junk debt (junk bonds and leveraged loans) in the U.S. economy, as a reminder, totals at least $2 trillion in “assets” mainly held by banks, although many mutual, pension, and hedge funds are also involved. The junk-debt market decline has become very sharp in December, with interest rates on middling (CCC-rated) junk bonds hitting 17.25% Dec. 10 and shooting upwards. This debt is essentially impossible to refinance. In recent weeks the ratings agencies and banks have charted a “spike” in defaults and bankruptcies of junk debtors — concentrated in oil and gas exploration and related services — and warned the “spike” will become a “wave” in January-February.

Now, two junk creditors have gone under. Two debt-invested funds have liquidated in the past few days. The first was actually a mutual fund: the $1.8 billion, “well-respected” Third Avenue Capital on Dec. 10. Its founder Martin Whitman is designated a “legendary vulture investor.” Just as that was being explained away (“it was investing in unrated debt”), the second went under on Dec. 11. It was Stone Lion Capital, a $2 billion hedge fund which was one of those investing in Puerto Rico distressed debt.

Some see a “Bear Stearns moment” — i.e., the bankruptcy of the two CLO-invested hedge funds in June 2007, which exposed the “non-containment” of the mortgage securities/derivatives meltdown. Vulture investor Carl Icahn gave a “keg of dynamite” interview on CNBC, saying “I believe the meltdown in High Yield is just beginning.”

The Wall Street Journal wrote Dec. 11, “The move is also a sign of how much the market for [all —ed.] corporate debt is deteriorating. “‘Investors have been dazzled that yields on bonds have climbed so high, even while default rates remained low,’ said … a longtime junk-bond analyst. ‘Currently, though, the ability to sell a large position is especially poor. When that tension gets especially high, you can see something snap.'”

The century-old British colonial looter Anglo American, which was making “energy-junk” loans on a large scale, is suddenly at the brink of junk itself, with Moody’s downgrading it Saturday to one step above junk for all its divisions and placing a negative advisory on all of them. Credit default spreads on both Anglo American and Glencore rate them at more than a 50% chance of default, requiring $1,000 cash up front to insure $10,000 of their debt.

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