STOCKTON - CALIFORNIA'S GREECE

Michael Jackson in Stockton, California, after a school shooting. Website for this image

At the end of June 2012, the city of Stockton, in California, filed for bankruptcy.

"The biggest municipal insolvency in American history will hit bondholders as well as former public workers whose health-care costs the city had covered."

 Stockton's bankruptcy: California's Greece | The Economist

"The city accumulated obligations to its workers and made rash spending pledges. When the market went sour in 2007-08 Stockton was left more exposed than most. Revenues dried up. As unemployment climbed above 20%, its foreclosure rate became one of the highest in the nation, where it remains."

Michael Jackson in "Stockton - All America City" after a school shooting.

According to Wikipedia:

Stockton is the 65th largest city in the USA and was once the third largest city in California..


Stockton, California, from Robert N. Dennis collection 1870

In the February 2, 2011 issue of Forbes, Stockton was described as being the "most miserable" city in the USA.

Central Connecticut State University surveys from 2005 and 2006 ranked the city as the least literate of all U.S. cities with a population of more than 250,000.[15][16][17]

According to a Gallup poll, Stockton was tied with Montgomery, Alabama for the most obese metro area in the United States of America with an obesity rate of 34.6 percent.[18]

www.menglau.com...Stockton has a Khmer temple and lots of Khmers. 

According to the city’s most recent Comprehensive Annual Financial Report, the city reported a significant deficit with US$443.9 million in revenue and US$485.4 million in expenditures.

As of March, 2012, Stockton's unemployment rate is among the highest in the nation, at 20.1%.

On June 28, 2012, Stockton finally filed for Chapter 9 bankruptcy after 'years of fiscal mismanagement and a housing market crash' left it unable to pay its workers, pensioners and bondholders. 

Stockton has a Khmer temple and lots of Khmers.

Stockton was rated by Forbes in 2009 as America's fifth most dangerous city because of its crime rate.[28] 

According to the San Joaquin County district attorney, the city of Stockton has the "second most violent crime rate in the state," while San Joaquin County is the fifth-most dangerous metropolitan area in the United States, which could be due to Stockton's proximity to Interstate 5 in the center of California, making it "a hub for the drug cartel between Mexico, Seattle and Vancouver, British Columbia."[41]

Stockton - Website for this image

On January 17, 1989, the Stockton Police Department received a threat against Cleveland Elementary School from an unknown person. Later that day, Patrick Purdy, who was later determined to be mentally ill, opened fire on the school's playground with a semi-automatic rifle, killing five children, all Cambodian or Vietnamese refugees, and wounding 29 others, and a teacher, before taking his own life. The event received national news coverage and is sometimes referred to as the Cleveland School massacre.[42]

Popular singer and song writer Michael Jackson paid a visit to Cleveland Elementary School to see the children and families affected by this tragedy on February 7, 1989.[43]

A number of motion pictures have been filmed in Stockton.[54] including:
All the King's Men (1949)[57]
Atlanta Child Murders (1985)
The Big Country (1958)[58]
Indiana Jones and the Last Crusade (1989)
Raiders of the Lost Ark (1981)[81]

WALL STREET, THE MILITARY AND THE MOB

Website

Almost every major bank and finance company on Wall Street spent the past ten years taking part in 'a scheme to skim billions of dollars from the coffers of cities and small towns across America.'

The banks secretly rigged the market in municipal bonds, a business worth $3.7 trillion.

'By conspiring to lower the interest rates that towns earn on these investments, the banks systematically stole from schools, hospitals, libraries and nursing homes'.

The Scam Wall Street Learned From the Mafia

"We may yet find out that the world's most powerful banks have, for years, been fixing the prices of almost everything ... from mortgages and credit cards to interest-rate swaps and even currencies."

The Scam Wall Street Learned From the Mafia

Wall Street is the Mob.

The Military is the Mob.

"Colonel Griggs was a Marine Corps Chief of Staff, as well as head of NATO's Psychological Operations. 

"He was also, his wife realized, entirely mind-controlled. 

"Kay, a self-declared Christian, became privy to the real workings of the United States military, leadership training, drug-running and weapons sales, and the secret worldwide camps that train professional assassins."  - Kay Griggs Talks - Home

 

Quotes from Kay Griggs:

"They took with them the most perverted aspects of Nazi Germany and brought them over to the United States."

"They get rid of the good guys. 

"The Marine Corps are the assassins for the Mob. 

"The military is run by the Mob. 

"The military IS the Mob."

"He told me what they did. They nurture - they cultivate - the sons of prominent families. They're called 'rising stars.' They rope them in. Then they 'turn" them.'"

ECONOMIC CRISIS - SOLUTION

Reportedly, the world economic crisis has been caused by five US banks.

(Geithner's 'Dirty Little Secret' by historian F. William Engdahl)

Under President Clinton, it was made easier for banks to 'gamble', using things called 'derivatives'.

Most 'derivatives' are bets on interest rates.

If the bets go badly wrong, the banks are in trouble.

JPMorgan Chase has $88 trillion in derivatives.

Bank of America has $38 trillion in derivatives.

Citibank has $32 trillion.

Goldman Sachs has $30 trillion.

Wells Fargo-Wachovia Bank has $5 trillion. 

Taxpayers' money has been poured into US banks to shore them up.

Website for this image

Dr. Paul Craig Roberts, former Assistant Secretary of the US Treasury, has a solution.

Financial Collapse At Hand: When is "Sooner or Later"?

"The US government should simply cancel the $230 trillion in derivative bets, declaring them null and void... 

"No real assets are involved, merely gambling...

"The financial gangsters who want to continue enjoying betting gains while the public underwrites their losses would scream and yell about the sanctity of contracts. 

"However, a government that can murder its own citizens or throw them into dungeons without due process can abolish all the contracts it wants in the name of national security. 

"And most certainly, unlike the war on terror, purging the financial system of the gambling derivatives would vastly improve national security." 

ENGDAHL EXPLAINS THE WORLD

WHAT REALLY HAPPENED - IN TUNISIA AND EGYPT

Conspiracy and Disinformation

ENGDAHL EXPLAINS THE WORLD

In the video below, the historian Frederick William Engdahl explains the economic crisis and the Arab Spring.

Engdahl has stated that the 2011 Egyptian Revolution was orchestrated by the Pentagon.

According to Engdahl "The ultimate goal of the US is to take the resources of Africa and Middle East under military control to block economic growth in China and Russia."[7] 

His first book was called A Century of War: Anglo-American Oil Politics and the New World Order, and discusses the roles of Zbigniew Brzezinski and George Ball in the 1979 overthrow of the Shah of Iran.

PUTIN'S RUSSIA

Charles Robertson, Global Chief Economist of Renaissance Capital in London, would appear to be something of a fan of Putin's Russia.

http://www.ft.com/cms/s/0/7ef67f4e-ab38-11e1-b675-00144feabdc0.html#ixzz1x6be6UtX

He points out that under Putin:

1. There have been significant improvements in Russian life expectancy and a rise in the birth rate. 

2. Gross domestic product has risen 10-fold in just over a decade.

3. Russia is the only Bric country with accelerating growth, and at a rate exceeding Brazil’s over 2011-12. 

4. Russia has enviably low public and private debt ratios, a current account surplus and $500bn of foreign exchange reserves.

Russia by ODEROV

Charles Robertson refers to Putin's idea that the west's focus on humanitarian intervention in Syria is a veil for hard-headed energy realpolitik. 

Charles Robertson writes that "events in Libya did not disprove Mr Putin’s thesis."

Moscow by shirley_turner

1966 Bilderberg documents leaked

TOURISM VITAL TO USA AND UK; WAR ON TOURISM

The tourists have fled from North Africa, thanks to NATO.

The travel industry is extremely important to the USA and UK.

Travel and Tourism Contributes Nearly USD2 Trillion To America GDP

New research, by Oxford Economics, shows that the travel and tourism industry's total contribution to GDP in the Americas was US$1.9 trillion in 2011.

This is 8.6 percent of total GDP.

This compares to 6 percent for 'automotive and mining' and 7 percent for 'chemicals'.

Pennsylvania by wavz13

The travel and tourism industry has 15 million direct employees in the Americas.

This compares with 10 million in financial services, 2.5 million in mining, 2.5 million in chemicals manufacturing, and 4 million in vehicle manufacturing.

France gets more tourists than the USA

In the UK, travel rivals financial services in importance, according to the World Travel and Tourism Council C

New research from the World Travel & Tourism Council shows that the UK travel and tourism industry:

1. Is nearly five times the size of the vehicle manufacturing industry.

2. Provides almost as many jobs as the financial sector.

3. Contributes around £101 billion per year, or 6.7% of total GDP.

This compares to 2.3% for vehicle manufacturing, 1.9% for mining and 4.1% for chemicals.

Travel and tourism’s contribution to GDP is growing faster than most other sectors in the UK.

Brazil by André Pinnola

However, the tourism industry is being hit by:

1. High taxes including Air Passenger Duty.

2. Lack of investment in roads, railways...

3. Scares about terrorism.

Perverted fascists in the USA?

International tourist arrivals

1  France 76.80 million
2  United States 60.88 million
3  China 55.67 million
4  Spain 52.68 million
5  Italy 43.63 million
6  United Kingdom 28.13 million
7  Turkey 27.00 million
8  Germany 26.88 million
9  Malaysia 24.58 million
10  Mexico 22.40 million

LORD JAMES; 'MISSING TRILLIONS'; RIYADI GOLD

Chinese-Indonesian businessman James Riady on the right reportedly has links to the CIA, Chinese intelligence, Bill Clinton and others.

In 2010, Lord James of Blackheath (David James.) said that: "The total value of the Vatican bank reserves (of gold) would claim to be more than (what we have been told is) the entire value of gold ever mined in the history of the world."

In other words, there may be a lot more gold, hidden for example in Rothschild and Vatican vaults, than we thought. If that is made public, the price of gold will come down fast. (GOLD PRICE TO FALL?)

On 19 February 2012, Lord James of Blackheath's produced revelations concerning reports of 15 trillion dollars (reportedly backed by 750,000 tonnes of gold), originating with a Mr Riyadi, transferred to various banks.

The world is only supposed to have 1,507 tonnes of gold.

Mr Riyadi reportedly claims that he has been robbed.

http://theintelhub.com/2012/02/19/lord-james-of-blackheath-mystery-15-trillion-dollars-transferred-to-hsbc-for-royal-bank-of-scotland-connected-to-jp-morgan-and-federal-reserve/#respond


Lord James of Blackheath:

"First, there may have been a massive piece of money-laundering committed by a major Government who should know better. Effectively, it undermined the integrity of a British bank, the Royal Bank of Scotland, in doing so.

"The second possibility is that a major American department has an agency which has gone rogue on it because it has been wound up and has created a structure out of which it is seeking to get at least €50 billion as a pay-off.

"The third possibility is that this is an extraordinarily elaborate fraud, which has not been carried out, but which has been prepared to provide a threat to one Government or more if they do not make a pay-off...



"In April and May 2009, the situation started ... A total of $15 trillion is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland.

"It starts off apparently as the property of Yohannes Riyadi, who has some claims to be considered the richest man in the world.

("James Riady is a business acquaintance of Jackson Stephens - reportedly of the CIA- and of Bill Clinton..." James Riady - Wikipedia, the free encyclopedia

The Chinese-Indonesian Riady family has large business interests in Asia.

In 2001, Riady paid $8.6 million in fines in the United States for making illegal campaign contributions to former president Bill Clinton in the 1990s. Clinton's Indonesian ties may face scrutiny Politics Reuters.

According to a 1998 CIA report, "James and Moctar Riady have had a long-term relationship with a Chinese intelligence agency."

James Riady "has ties with the American far-right evalgelical movement, particularly with the George Bush confidant, Pat Robertson." - Jakartass Clinton; Indonesia; Chinese Intelligence Agency)

"I have seen some accounts of his showing that he owns $36 trillion in a bank...

"A lot of that money has been taken away from him, with his consent, by the American Treasury over the years for the specific purpose of helping to support the dollar.


"Mr Riyadi has sent me a remarkable document dated February 2006 in which the American Government have called him to a meeting with the Federal Reserve Bank of New York...

"This astonishing document purports to have been a meeting, which was witnessed by Mr Alan Greenspan... by Mr Timothy Geithner...

"These gentlemen have signed as witnesses to the effect that this deal is a proper deal...

"Under the contract, the American Treasury has apparently got the Federal Reserve Bank of New York to offer to buy out the bonds issued to Mr Riyadi to replace the cash which has been taken from him over the previous 10 years.

"It is giving him $500 million as a cash payment to buy out worthless bonds...

"Mr Riyadi, by passing these bonds over, has also put at the disposal of the US Treasury the entire asset backing which he was alleged to have for the $15 trillion."

Riadi was supposed to have had "750,000 tonnes of gold."

"I have a letter from Mr Riyadi himself, who tells me .... that he has been robbed of all his money...

"Each of the $5 trillion payments that came in has been acknowledged and receipted by senior executives at HSBC and again receipted by senior executives at the Royal Bank of Scotland...

"The money was first said to have come from the Riyadi account to the Federal Reserve Bank of New York and from there it was passed to JP Morgan Chase in New York for onward transit to London..."

According to Lord Sassoon, only 1,507 tonnes of gold has been mined in the history of the world, so you cannot have 750,000 tonnes.

"Today, I have this quite frightening piece of paper ... from the general audit office of the Federal Reserve in Washington - the real Federal Reserve-and its audit...

"It has on it some 20 banks listed to which $16.115 trillion is outstanding in loans...

"Barclays Bank has $868 billion of loan, and the Royal Bank of Scotland has $541 billion..."

(This money could earn huge amounts of interest)

"One has to ask a question, because they could have earned back in three weeks their entire indebtedness and could pay off the taxpayers of Britain. Why have they not done so...

"Most extraordinarily, not a penny of interest does the Federal Bank of New York want paid on that vast amount, $16 trillion...

"The compound interest on that sum is huge. If it is genuine, a vast profit is being made on this money somewhere...

"Either we have a huge amount of tax uncollected on profits made or we have a vast amount of money festering away in the European banking system which is not real money, in which case we need to take it back. I ask for an investigation and for noble Lords to support my plea."

~~

The Riady family who control the Lippo Group as well as the Mayapada Group, and have still shares in the Salim Group's Bank Central Asia, have numerous business connections with the Suharto family and the family of one of Suharto's daughter's in-laws, namely the Djojohadikusumo family.
[asia-apec 209] Re: Lippo-Clinton connections

EURO CRISIS IS PROBABLY OVER - FUND MANAGER

France

Hugh Cuthbert, a top rated UK fund manager, says the euro crisis is probably over.

He believes that Europe now has the funding, and austerity, needed to end the 'sovereign debt' problem once and for all.

(http://www.trustnet.com/News/Research.aspx?id=305465 31 January, 2012)

Italy

On 30 January 2012, 25 countries at the EU summit endorsed the new Treaty on Stability, Coordination and Governance.

This means a promise to cap 'structural deficits' at 0.5 per cent of GDP, with fines of 0.1 per cent for nations that breach the limit.

The UK and the Czech Republic did not sign up to the treaty, but, David Cameron dropped his objection to the European Court of Justice taking control over such agreements.

Italy

Hugh Cuthbert believes that it is 'more than likely' that the end is now in sight.

He says: "We think measures such as the recently announced long-term refinancing option (LTRO) are what the market is looking for but in disguise.

"Banks have been given almost unlimited access to money at a cost of 1 per cent, they are then mandated to go out and buy sovereign debt.

"It is not just the ECB that is directly buying the sovereign debt, the banks are too. (This sees) banks cured and sovereign debt has a safety net put under it.

"I think the market has missed a trick there and that makes me positive about the future."

France

"In London, the FTSE 100 Index advanced 34 points to 5704.9 as traders were also hopeful Greece would receive its next tranche of its bailout funds later this week.

"Germany's Dax and France's Cac-40 made gains of 1% and 1.5% respectively." (Markets boosted by Greece optimism )

Stocks headed for best January since 1997

THE ECONOMY IN 2012

Sao Paulo in Brazil (http://www.fotosedm.hpg.ig.com.br/)

The quotes below are from the January 2012 edition of the UK's Money Observer.

1. The world economy has been growing very fast.

"The world economy... is set to reach $70 trillion by the end of 2011."

"Only a decade ago, the world economy was only $32 trillion."

- Iain Murray

Indonesians

"The people of Asia are motivated and driven."

- Jim Rogers.

BBC News - the Brazilian economy has overtaken the UK's

By 2020, Britain's economy is likely also to have been overtaken by Russia and India.

By 2028, Brazilians will enjoy a per capita income equivalent to Britain's.

John Kampfner: Brazil's success heralds the new world order

A favela in Niterói city, Brazil by Zimbres

2. Countries such as China, India, Indonesia and Brazil may see pressure for big wages rise.

"China has been growing at 9 - 10% a year...

"I suspect the sustainable growth rate will be 4 - 5%."

- Bruce Stout.

China - Website for this image

3. The US economy is in trouble

"The Chinese have plied the greedy and gullible American public with temptingly low-cost goods and supplied the cheap finance which has lured the US government close to fiscal ruin."

- Barry Riley

"The US is the largest debtor in the history of the world."

"The US will default one way or another."

- Jim rogers
Website for this image

4. The problems of Europe may not have too big an effect on the USA.

"US companies only have 15% exposure to Europe (revenues coming from Europe)."

- Ruth Emery

"The US is a fairly closed economy - exports account for just 10% of its output."

- Heather Connon

Website for this image

5. In the long run, commodities such as timber, silver, and wheat may be a good investment.

"Reserves of all commodities are falling by 6% a year."

- Jim Rogers.

Goldman Sachs sold $250 million of BP stock before spill.

The Pentagon takes an interest in economic warfare.

And BP may have been a US target.

In March 2009, the Pentagon sponsored a war game focused on economic warfare. (Pentagon preps for economic warfare - Eamon Javers - POLITICO.com)

"This was an example of the changing nature of conflict," said Paul Bracken, a professor and expert in private equity at the Yale School of Management.

One might ask: DID AMERICANS SABOTAGE AIR FRANCE 447?

In February 2010, Wayne Madsen reported that "the Obama administration authorized the anti-Toyota campaign as a warning shot to Japan over its reformist government’s insistence that the U.S. pull its military troops out of Okinawa." (Obama waging economic warfare on several fronts, including Japan)

therearenosunglasses/ asked Is the US Waging Economic Warfare Against Corporate Foreign Competitors.:

"It would seem only logical... for a puppet president to order covert attacks upon foreign competitors. GM (government motors) has now pulled ahead of Toyota...

"BP has fallen from its formerly unassailable status as world's top oil company and may be subject to "hostile takeover."

"The fact that the Deepwater Horizon explosion has been blamed on faulty sealing work on the seabed drill hole done by Halliburton (Cheney's company) should set-off alarm bells.

"It is worth recalling here that Halliburton was at the center of another international/environmental catastrophe, the Kuwaiti "cross-drilling" operation that ignited the 'Gulf War' and the resultant hundreds of oil well firings."

Was BP sabotaged?

We will see more economic warfare.

We have just seen the fast growing economies of Tunisia, Egypt and Libya wrecked by the CIA's Arab Spring.

BANKS IN TROUBLE?

Website for this image

Sometimes banks gamble, and lose.

On 12 December 2011, Global Research had an article suggesting that banks, and others, still hold a vast amount of worthless assets.

The suggestion is that many, many billions in 'ghost assets' will disappear by 2013.

(The Derivative Debt Bubble: "Ghost Financial Assets" and the Widespread Discounting of Western Public Debt)

Think of a French bank holding Greek government bonds which are suddenly worth only half of what they were before.

And it may not just be Greek bonds.

And it it is not just French banks that may suffer..

According to the Global Research article:

There is the possibility of a decline of 30% in the US dollar in 2012.

The United Kingdom could be absorbed into Euroland by 2020.

Scotland may break with England.

A global and US recession could involve falling tax revenues and further drops in home values.

US private debt is far worse than in Greece.

Europe has takes steps to reduce expenditures and debts.

But the US continues increasing debt.

"We have entered a phase involving the decimation of Western banks...

"Customers of all financial operators - banks, insurance companies, investment funds, pension funds - are now questioning the soundness of these institutions.

Website for this image

"The Economic Collapse", on 13 December 2011, gives us 17 Signs That The European Financial System Is Heading For An Implosion Of Historic Proportions

From this we learn:

Greece has raised taxes and reduced government spending.

This has caused the Greek economy to slow down and tax revenues to decline.

100,000 businesses have closed.

A third of the population is living in poverty.

The following are signs that the European financial system is heading for an implosion of historic proportions.

1 When you reduce government spending you also slow down the economy.

2 As the economy slows down in Europe, unemployment will rise.

3 Germany, and the other wealthy nations of northern Europe, are sick and tired of bailouts and do not plan to hand over trillions of euros.

4 The European Central Bank could print trillions of euros, but this would go against existing treaties and most of the major politicians in Europe are strongly against this right now.

When the CIA hits the economies of such countries as Libya, Egypt, Tunisia, India, Russia, Indonesia, or China, the global economy suffers.

5 Europe is rapidly running out of time.

6 Germany has kept the focus exclusively on fiscal deficits.

This crisis was not caused by fiscal deficits (except in the case of Greece).

Spain and Ireland were in surplus, and Italy had a primary surplus.

7 There are dozens of European banks in danger of failing.

Nobody wants to 'throw any more money into those black holes'.

We could start to see banks fail in rapid succession.

Charles Wyplosz, a professor of international economics at Geneva’s Graduate Institute, says:

"Banks will collapse, including possibly a number of French banks that are very exposed to Greece, Portugal, Italy and Spain."

8 According to financial journalist Ambrose Evans-Pritchard, European banks need to reduce the amount of lending on their books by about 7 trillion dollars in order to get down to safe levels.

9 European banks are overloaded with worthless assets that have a book value of trillions of euros.

10 Either the Germans will have to allow the ECB (European Central Bank) to print money out of thin air to buy bonds with, or, "we will finally see the market determine the true value of European government bonds."

11 Huge amounts of European sovereign debt are scheduled to be 'rolled over' next year (Money is due to be paid back to lenders; so new money must be borrowed.).

The poor cannot afford to shop in Walmart

12 Once the new treaty is ratified, eurozone governments will lose the power to dramatically increase government spending.

The coming recession could become a full-blown depression.

13 Credit rating agencies are warning that more credit downgrades may be coming in Europe.

14 S&P has put 15 members of the eurozone (including Germany) on review for a possible credit downgrade.

15 The stock prices of many major European banks are in the process of collapsing.

16 Bank 'runs' have been reported in certain parts of Europe.

At the start of 2010, savings and time deposits held by private households in Greece totalled €237.7 billion.

By the end of 2011, they had fallen by €49 billion.

Savings fell by a further €5.4 billion in September and by an estimated €8.5 billion in October.

17 Economic activity is slowing down.

In October, Japanese machinery orders dropped 6.9%, following an 8.2% drop in September.

South Africa has recently reported a 5.6% drop in manufacturing activity.

Britain recorded a 0.7% decline.

China’s October exports fell 1.7% after dropping 3.8% in September.

Korea’s exports are down three consecutive months. Singapore’s were off in September and October. Indonesia’s plunged 8.5% in October after slipping 2% in September. India’s dropped 18.3% after being flat in September.

"Brutal austerity + toxic levels of government debt + rising bond yields + a lack of confidence in the financial system + banks that are massively overleveraged + a massive credit crunch = A financial implosion of historic proportions."

Website for this image

What governments could do:

1. Nationalise or close down the zombie banks.

Nationalise the US Federal reserve.

2. Get government financial institutions to lend to business.

3. Ban the trade in 'derivatives' and other forms of gambling by banks and financial institutions.

4. Slash spending on defence and handouts to the rich.

Increase taxes on the rich.

5. Increase spending on infrastructure.