Ya gotta love the internet, it really adds meaning to the term desktop publishing. I mean a story like this that doesn't fit mainstream doctrine, would never see the light of day. Readers reach my blogs by searching what they WANT to read about rather than what some talentless writer and corporation wants to TELL them about. Today the media wanted to sell the public on the BS that bank failures are good. The headlines were "no angry customers" you have to read the story to find out that these 2 banks in the american southwest were taken over and changed over without notifying the customers of any problems. It also took place over the weekend, so people will wake up monday morning with another bank holding their mortgage and credit cards, the bank name that they print company checks on is now defunct (but good--lol). All of this dancing to mask the fact of mult-level, multi-generational corruption. I've been asking for nearly a year for the so-called depositor and investment insurance programs to surface and here they are, writing checks out of taxpayers pockets. I already said the crisis would be deeper than they told you last year, that banks would close etc. Now when I watch the news, they are interviewing the same advertisers who got it wrong. Look me up, I said the solution to the mortgage crisis was to save the mortgages not send it to the bankers who would steal the infusions and rate cuts. They did it their way and here we are as they realize that greed only made their situation worse. I watched the media play mouthpiece for their advertisers, talking up central bank action and pissing on homeowner "bailouts". Now that the treasury secretary and central banks have to face reality, the media is still happy to parrot their ramblings. Each week when the bad data comes in they talk about unexpected dips or declines(who didn't expect it? advertiser analyst?). Then they try to talk the markets up for a day to say a number beat expectations (one that's been put excessively low to give it a good headline) ex. company X posted a 10 trillion $ lost instead of the 20 trillion analyst predicted. The "analyst" don't seem to be too good at predicting stuff -huh. Maybe it's the problem like the media and rating agencies, it's hard to be objective when you're being paid. A true media would have alerted the public that these banks were going to collapse, instead of printing advertiser talking points as news. Too many "anal -lyst" have too much vested interest in steering the outcome with their predictions and "expectations".
Against this cancerous backdrop, I bring you the rant de jour. During our witch drowning trial, the prosecution has been hanging it's hat on something called a ponzi scheme. Now running a revolutionary organization rest assured nose-picking dimwits throw it around like yo momma jokes. When it comes to actual law, justice and evidence, I would hope that slanders and smoke would need some support in fact. Despite the fact that it is part of public record that the practices of aid4families worked in complete contradiction to a ponzi scheme, it still lingers out there. So I wondered to myself, hey self "yeees, how may I help...myself" is there anyway to find a concrete definition of ponzi scheme that constitutes the legal understanding? So I went to the rcmp website, I don't constantly go to governments sites like the way sodec and government of canada pawns frequent mine but I may follow a governmental visitor. At the RCMP site, what do we find? The official definition of ponzi scheme according to them.
Everyday, I select stories, articles and other information to keep for future reference. This things get swept under the rug and the coalition of corruption changes it's tune. When that happens reality takes a hit. All of a sudden the bush administration never said iraq was tied to 9-11 or WMDs, the fed is DEMANDING that the government take a role in the sub-prime crisis and not leave it up to them and the markets, all of a sudden "the surge" is the measure of judgment rather than the stupidity of cheer-leading a colonial war. In my situation, that means the stories about abcp and sub-prime have a very short shelf life, quickly purged by the media archives. Google -montreal accord or scotia abcp in a news search or even a websearch won't give you any indepth criticism from the mainstream. I found an article from november, where the process of the abcp was explained in some detail so we could overlay something that has not raised a single eyebrow in the political, judicial, regulatory or enforcement community in nearly 2 decades.
The findings shouldn't shock anyone. The canadian system has been locking up people forever using the ponzi scheme catch-all, while steering people back to the banks who would never practice such foolishness. Au contraire mon frere, ABCP was licensed, sanction, regulated and everyone was aware of the duplicity of telling the public that they defined ponzi as fraud while giving their masters a free pass. Tsh tsh tsh what's a corrupt country to do, well first order of business is try and shut me up for putting a chart on my website warning people of how banks soil money (clean to dirty). Second, canada's favorite past time, blame america. The headlines are "canadian economy strong DESPITE american crisis" no mention that the american economy IS the canadian economy. It is a total coincidence that the other white english speaking nation is in the g-8 and canada's stability and prosperity have no relation to america, only canadian ills. Yet canadian ABCP couldn't get a good rating from other rating agencies, so a canadian one did the dirty work, canadians didn't buy abcp on their trips to florida but through canadian banks and agents not knowing they were tied to american vulture credit. They say that canadian banks have lost less than the banks in europe, u.s. and asia (never mentioning how much smaller they are) or that canada should have less exposure to american mortgages than american banks. Fortunately my dreams are realized, thanks to the internet the canucks refuse to be spoon-fed and when I read this bay street propaganda for what passes for media in this country, the comments are heartwarming. When the bank of canada said the crisis was over in canada a few weeks ago, the comments were livid. That same bank of canada now wants more power to match the 3rd world dictatorial powers that the other central banks have demanded as ransom to stop the crisis. Neither one of these old guard solutions are having the desired effect. Aid4families.com is still up while bear stearns is shuttered and regulators & politicians play catch-up on a backlog of rampant corruption. When we look back on this era and recount it for our children and grandchildren, I'll be the guy that stood up and told the truth and many others will be the ones who hid themselves or argued with the guy who told the truth. That's it.
Sunday, July 27, 2008
Posted by aid4families at 11:36 AM