CAP& TRADE NUTS AT IT AGAIN-LEFT NUTCASES

TODAY JOHN KERRY AND JOE LIEBERMAN WILL BRING TO GOVERNMENT THE CAP & TRADE INVISIBLE AIR SCAM TO GET PASSED.THESE NUTCASES NEVER STOP WITH THIS WORLD TAX SCAM.

Cap-and-Trade: A Scam Based on a Scam
By Alan Caruba Tuesday, May 11, 2010

It is almost beyond comprehension that Sen. John Kerry (D-MA) and Sen. Joseph Lieberman (I-CT) will introduce the Cap-and-Trade Act on Wednesday, May 12th, for consideration by the Senate. It is being passed off as a climate bill with provisions for more oil drilling, but it is an assault on reality, on science, on common sense, and on any future economic growth of the nation.The nation’s prisons are filled with men still claiming to be innocent after trials filled with evidence of their guilt. Denial of the truth is their last resort and this metaphor reflects what is happening in the utterly corrupt community of global warming liars and their associates in the U.S. government. Recently 225 scientists wrote a letter defending global warming. It was published in the journal Science, one of the many such publications that have become as corrupt as those at the center of the global warming scam. Based on last November’s leaked emails among those most responsible for the data at the heart of the global warming scam, it was revealed that the United Nations Intergovernmental Panel on Climate Change had been systematically publishing false climate information and analysis.

Moreover, the photo used to illustrate the scientists letter was photo-shopped to show a polar bear on a small piece of ice surrounded by water. The deception included the fact that many of the signatories to the letter lack credibility. Among the first 20 listed, none work in the field of climate science.As reported by Tony Hake of Climate Change Examiner, Pediatric surgeons, an expert in the Maya and Olmec civilizations, a chemist that studies bacteria, and a computer pioneer with Microsoft, an electrical engineer, the chairman of a biotechnology firm, and even an expert studying corn are but a few of the 225 experts that signed the letter.Dr. Gerhard Kramm, an atmospheric scientist at the University of Alaska Fairbanks, fired off a letter disputing the usual claim that human activity is causing carbon dioxide emissions that are, in turn, causing global warming. Until today, there is no scientific evidence that an increase of the globally averaged near-surface temperature by less than one Kelvin during the last 160 years can be linked to the increase of the atmospheric concentrations of so-called greenhouse gases.

There is no global warming. Whatever warming occurred followed the end of a mini ice age that began around 1350. Around 1850 the Earth’s temperature increased about one degree Fahrenheit to its current level.The United Nations has been the locus of the greatest hoax perpetrated in the modern era The United Nations has been the locus of the greatest hoax perpetrated in the modern era, codified in the bogus Kyoto Protocol, an international agreement that many nations signed onto in1997. The Clinton administration signed the agreement, but did not implement it due to a Senate resolution that unanimously rejected it. The real aim of the global warming scam is the prospect of selling carbon credits in exchanges around the world, in effect selling air!Cap-and-Trade Act: Constitute the greatest tax on energy use in the history of the nation If the Cap-and-Trade Act is passed at the urging of the Obama administration, it will constitute the greatest tax on energy use in the history of the nation and it will energize exchanges, such as the one in Chicago, set up to buy and sell the carbon credits.

As reported by Investor’s Business Daily on May 7, The carbon trading system being pushed here has spawned crime and fraud across the pond. Cap-and-Trade is not about saving the planet. It’s about money and power, and absolute power corrupting absolutely.The European Emissions Trading System is a warning to America. IBD described it as a scam built upon a scam. British and German law enforcement authorities have been busy arresting miscreants as part of a pan-European crackdown on carbon credit VAT tax fraud.And VAT, a valued added tax, is being advanced in the United States as a way to raise money to pay off our ever increasing debt.Last December, reported IBD, Europol, the European criminal intelligence agency, announced that Emissions Trade System fraud had resulted in about five billion euros in lost revenues as Europe’s carbon traders schemed to avoid paying Europe’s VAT and pocket the difference. In announcing the raid, the agency said that as much as 90% of Europe’s carbon trades were the result of fraudulent activity.The entire global warming theory has been a scam, a hoax and a fraud from the day it was first put forth. Its advocates, corrupt scientists, corrupted science journals, and all of the environmental organizations are hoping the same Congress that foisted Obamacare on Americans will do the same with Cap-and-Trade.Alan Caruba, 2010

LISTEN TO THE SHOW HERE INFOWARS.COM
http://www.infowars.com/
OBAMA DECEPTION
http://www.youtube.com/watch?v=eAaQNACwaLw
FALL OF THE REPUBLIC MOVIE
http://www.youtube.com/watch?v=F8LPNRI_6T8&feature=player_embedded
ENDGAME GLOBAL ENSLAVEMENT
http://video.google.com/videoplay?docid=1070329053600562261
POLICE SATE 4-THE RISE OF FEMA MOVIE
http://www.youtube.com/watch?v=Klqv9t1zVww&feature=player_embedded
INVISIBLE EMPIRE MOVIE
http://www.youtube.com/watch?v=NO24XmP1c5E&feature=player_embedded
BOHEMIAN GROVE NWO OCCULTISTS
http://video.google.com/videoplay?docid=-82095917705734983
WITCHCRAFT IN THE WHITE HOUSE
http://www.youtube.com/watch?v=AmaiX86sUoc&feature=related
http://www.youtube.com/watch?v=IF2eILED00s&feature=related
http://www.youtube.com/watch?v=ZARWvlz_yKI&feature=channel_page
http://www.youtube.com/watch?v=Sbh7KrUwawI&feature=channel
http://www.youtube.com/watch?v=4IG0tmvCozU&feature=channel
http://www.youtube.com/watch?v=NgP-SyrooKI&feature=channel
OBAMA SCAM
http://www.youtube.com/watch?v=9V1nmn2zRMc&feature=player_embedded
PHIL BERG - OBAMA CRIMES
http://obamacrimes.com/
LAURIE ROTH SHOW
http://therothshow.com/
DOUG HAGMANN
http://homelandsecurityus.com/
CANADA FREE PRESS-JUDI MCLEOD
http://www.canadafreepress.com/

JUNE 29TH ELLIGABILITY CASE
http://www.wnd.com/index.php?fa=PAGE.view&pageId=137773

AND THE OTHER ISSUE WE MUST KEEP ON THE TABLE AND IN PEOPLES MEMORY IS THAT BARRY SOETORO IS REALLY BARACK OBAMAS REAL NAME AND HE WAS BORN IN KENYA NOT AMERICA.BARRY SOETORO AKA BARACK OBAMA IS NOT ELLIGABLE TO BE THE PRESIDENT OF THE USA GOVERNMENT.EVERYTHING HE SIGNS IN BARACK OBAMA IS ILLEGEL,BECAUCE HIS REAL NAME IS BARRY SOETORO.AMERICAS CONSTITUTION WILL BE IN SHAMBLES ONCE THIS SCAM IS FINALLY REVEALED TO THE WORLD.

BY THE TIMELINE IN OBAMAS OWN BOOKS-OBAMA WENT TO PAKISTAN ON HIS INDONESIAN PASSPORT.ANOTHER ISSUE OUT OF 400 PEOPLE AT COLUMBIA THAT GRADUATED THE YEAR OBAMA OR BARRY SOETORO DID,NO ONE COMES FORWARD TO SAY THEY KNEW HIM.HOW COME AT HAWAII HOSPITAL WERE OBAMA CLAIMS HE WAS BORN,NO NURSES OR ANYBODY CAME FORWARD TO SAY THEY WITNESSED OR TOOK PART IN THE BIRTH.THIS BARRY SOETORO OR AKA BARACK OBAMAS LIFE IS A COMPLETE FRAUD.AND AMERICA IS CONNED TO BELIEVE THE LIE.WHY WOULD SOETORO AKA OBAMA SPEND 2 MILLION DOLLARS TO STOP ALL THESE LAWSUITS IF THERES NO COVERUP.HE WOULD JUST SHOW THE PROOF OF EACH EVENT-PLACE OF BIRTH,CERTIFICATE AND REAL NAME BARRY SOETORO INDONESIAN PASSPORT.

The proof is everywhere from statements and affidavits from Government parliament sources and Obama’s own Grandmother who says she saw him born in a hospital in Mombassa Kenya. The former ambassador to Kenya says Obama was born in Mombassa Kenya, so do others. Check out the affidavits at www.obamacrimes.com and join Phil Berg and other concerned citizens for a huge eligibility protest march May 29th 12-4pm.

ONE SUCCESS AT LEAST THE FED WILL BE AUDITED BACK TO 2007.THE GOVERNMENT FINALLY TOOK ACTION,ITS ABOUT TIME.

Alan Grayson: We Beat The Fed Paul Joseph Watson
Prison Planet.com Wednesday, May 12, 2010

While many are expressing disappointment and even despair that the Senate voted down Ron Paul’s audit the Fed bill while passing a weakened version, Congressman Alan Grayson is confident that the stronger provisions of the original House amendment can be added in Committee, ensuring the Federal Reserve doesn’t get off the hook, as Congressman Paul has warned.The Senate last night voted 96-0 in favor of a compromise amendment that requires the GAO to conduct a one time audit of the Federal Reserve that will focus on which financial institutions received over $2 trillion dollars in bailout funds during the peak of the economic crisis.However, the Senate voted down 37-62 Senator David Vitter’s audit the Fed amendment, which mirrored Ron Paul’s version that was passed by Congress. The stronger version would have ensured ongoing congressional audits and would have severely hampered the Fed’s ability to continue its credit swap program which has seen billions of U.S. dollars sent to foreign banks.Congressman Paul has dismissed the watered down version as a placebo amendment that lets the Fed off the hook, noting with suspicion how it was enthusiastically supported by the Obama administration.If they’re all supporting it, I would be very suspicious that the Fed is quite aware of this and they’re satisfied with this and maybe they think they’re getting off the hook, Paul said in a recent interview.However, Congressman Alan Grayson, who has been a vehement supporter of Ron Paul’s efforts to properly audit the Fed, believes that the one time audit is an important step towards full transparency.

Grayson is confident that a one time audit would expose the Fed’s arguments for secrecy as a ruse, leading to greater pressure to enact regular audits. He believes that the stronger provisions of the Ron Paul version can be merged into the bill the Senate passed last night.The Senate audit provision isn’t as strong as what we passed in the House, writes Grayson, adding, The Senate provision has only a one-time audit, whereas what we passed in the House would allow audits going forward. There will be a conference committee that will merge the provisions from the two bills….So we will be fighting on to get a full audit from the conference committee.

No longer can Ben Bernanke get away with saying, I don’t know. Now, we’re going to know who got what, and why,writes Grayson, referring to his confrontations with Bernanke in which he demanded to get answers on where the bailout money had gone.
Grayson says the one time audit represents significant progress given the overwhelming opposition to Fed transparency just months ago.Let’s not lose sight of what we have accomplished so far – real independent inquiry into the Fed, and its incestuous relationships with Wall Street banks. For the first time ever,writes Grayson.Our calls, emails, lobbying, blogging, and support really mattered. We made it happen. Today, we beat the Fed,he concludes.It remains to be seen whether Grayson can help piggy back the stronger provisions onto the watered down amendment, but as it stands, the version passed by the Senate will at least crank the door ajar on Fed secrecy. But some fear that door could once again be slammed shut subsequent to a whitewash and a limited audit.During a speech on the House floor last night, Congressman Ron Paul reacted to the failure of the stronger version of the bill by imploring full transparency in light of the Fed’s decision to restart loans to foreign banks and governments, which is heaping more future misery on American taxpayers and threatening the long term survival of the U.S. dollar.

Watch the clip below.
http://www.youtube.com/watch?v=_FRq4hB48fE&feature=player_embedded

http://www.foxnews.com/world/2010/05/10/world-health-organization-moving-ahead-billion-dollar-internet-tax/
Updated May 10, 2010 World Health Organization Moving Ahead on Billions in Internet and Other Taxes By George Russell- FOXNews.com

The World Health Organization is moving full speed ahead with a controversial plan to impose billions of dollars in global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online — while its spending soars and its own financial house is in disarray.The World Health Organization (WHO), the United Nations' public health arm, is moving full speed ahead with a controversial plan to impose global consumer taxes on such things as Internet activity and everyday financial transactions like paying bills online — while its spending soars and its own financial house is in disarray.The aim of its taxing plans is to raise tens of billions of dollars for WHO that would be used to radically reorganize the research, development, production and distribution of medicines around the world, with greater emphasis on drugs for communicable diseases in poor countries.

The irony is that the WHO push to take a huge bite out of global consumers comes as the organization is having a management crisis of its own, juggling finances, failing to use its current resources efficiently, or keep its costs under control — and it doesn't expect to show positive results in managing those challenges until a year from now, at the earliest.Fox News initially reported last January on the suite of proposals for new and innovative sources of funding, prepared by a 25-member panel of medical experts, academics and health care bureaucrats, when it was presented of a meeting of WHO's 34-member Executive Board in Geneva.Now the proposals are headed for the four-day annual meeting of the 193-member World Health Assembly, WHO's chief legislative organ, which begins in Geneva on May 17.The Health Assembly, a medical version of the United Nations General Assembly, will be invited to take note of the experts' report. It will then head back with that passive endorsement to another Executive Board meeting, which begins May 22, for further action. It is the Executive Board that will give effect to the Assembly's decisions.

What it all means is that a major lobbying effort could soon be underway to convince rich governments in particular to begin taxing citizens or industries to finance a drastic restructuring of medical research and development on behalf of poorer ones.

The scheme would leave WHO in the middle, helping to manage a global health research and innovation coordination and funding mechanism, as the experts' report calls it.In effect, the plan amounts to a pharmaceutical version of the U.N.-sponsored climate-change deal that failed to win global approval at Copenhagen last December. If implemented as the experts suggest, it could easily involve the same kind of wealth transfers as the failed Copenhagen summit, which will send $30 billion a year to poor nations, starting this year.The WHO strategy involves a wide variety of actions to transfer pharmaceutical-related technology, and its production, along with intellectual property rights, to developing countries, according to a condensed global strategy and plan of action also being presented to the World Health Assembly.

Regional networks for innovation would be cultivated across the developing world, and some regions, such as Africa, would be encouraged to develop technology to exploit traditional medicines.According to the condensed plan of action being presented to the Assembly, a number of those initiatives are already well under way.
Click here to read the plan of action.The rationale for the drastic restructuring of medical R and D, as outlined in the group of experts' report, is the skewed nature of medical research in the developed world, which concentrates largely on non-communicable diseases, notably cancer, and scants research on malaria, tuberculosis and other communicable scourges of poor countries. It cites a 1986 study that claimed that only 5 percent of global health research and development was applied to the health problems of developing countries.(In dissecting contemporary medical R and D, however, the expert report glosses over the historical fact that many drugs for fighting communicable diseases in developing countries are already discovered; the issue in many cases is the abysmal living and hygienic conditions that make them easily transmitted killers.)What truly concerns the experts, however, is how to get the wealth transfers that will make the R and D transfers possible — on a permanent basis. The panel offers up a specific number of possibilities.

Chief among them:
-a digital or bit tax on Internet activity, which could raise tens of billions of U.S. dollars;
-a 10 percent tax on international arms deals, worth about $5 billion per annum;
-a financial transaction tax, citing a Brazilian levy that was raising some $20 billion per year until it was canceled (for unspecified reasons);
-an airline tax that already exists in 13 countries and has raised some $1 billion.

Almost casually, the panel's report notes that the fundraising effort would involve global changes in legal structures — and policing. As the report puts it: Introducing a new tax or expanding an existing tax may require legal changes, nationally and internationally and ongoing regulation to ensure compliance.As a backup, the panel offers some less costly, voluntary alternatives, including solidarity contributions via mobile telephone usage, or set-asides on income taxes.

Yet another alternative: new health care contributions from countries such as China, India or Venezuela, or higher contributions from rich countries — neither idea looking likely in the current climate of international financial crisis. In the report's words: channeling these resources in this way can only be achieved if there is political will to do so and a convincing case is made.Click here to read the financing report.As follow-up, the experts suggest that WHO promote each and every suggested approach for new financing, along with regulatory harmonization and integration in the developing world, research and development platforms in the developing world,and new product development partnerships to kick-start the global medicines program.Just as big an issue for WHO, however, may be whether it can adequately manage the money it is already getting — or trying to get — for its current planned needs.Other budget documents intended for the World Health Assembly, and obtained by Fox News, paint a picture of an organization where:

-spiraling financial demands are beginning to outstrip the ability of member-nations to pay;
-outsized headquarters budgets, in contrast to the regional and country networks where WHO's public health work is largely done, are rising even faster than the overall budget; and
-efforts to control onerous staff costs are just getting underway.

Those challenges are laid out in WHO's proposed biennial budget for 2010-2011, which calls for a combination of mandatory and voluntary contributions from the world's nations — meaning, overwhelmingly, the three dozen richest ones — of $5.4 billion — a whopping 27 percent increase over the same initial draft figure for 2008-2009.

But that increase, large as it is, will likely be far less than WHO needs before the latest biennium ends. In 2008-2009, the initial $4.23 billion draft budget was revised to a final $4.95 billion during the two-year period, a 17 percent increase.

Using the same inflationary measure, WHO's spending could well climb to $6.3 billion before the end of 2011.Click here for the draft 2010-2011 budget.One of the biggest jumps would come in the spending centered on WHO's headquarters in pricey Geneva — a 44 percent climb in its share of program budgets, from $1.18 billion to $1.7 billion, even before any future revisions.WHO planners point to the shrinking value of the U.S. dollar, its budgeted currency, against the Swiss franc as a major factor, which they say has increased costs by 15 percent. But other factors include more meetings for WHO's governing bodies and salary provisions for the top officers of the WHO Secretariat.According to documents presented to the program, budget and administration committee of WHO's Executive Board, headquarters costs for the organization have remained proportionately steady for years at almost 38 percent of WHO's spending, however much that spending has grown. The ratio is striking, since WHO devotes most of its efforts to improving health care conditions in the developing world.The organization's stated goal is to spend only 30 percent of its program funding in Geneva, but the same planners think it is unrealistic to think WHO will reach that objective, even by 2013.In foggy bureaucratic language, they declare that a change that is too swift and radical will be disruptive to the entire function of the Organization or fail because of an insurmountable accumulation of practical problems of execution.

Translation: the WHO bureaucracy won't easily cooperate.In a bid to get the head-to-tail ratio under better control, WHO's top managers have set ceilings for headquarters hiring, but these only went into effect this year. The hiring limits will not cut the Geneva head-count but limit its further growth — an acknowledgement, the document says, that staff numbers are the main driver of WHO's expenditures.That combination of WHO's sharp hikes in costs and a grim economic climate have led to another major management problem: continued disparities between the approved budgets and the available resources.In other words, WHO's member states and donors are not paying up as fast as the organization is spending the money across its many and varied priorities, leading to budgetary juggling and behind the scenes efforts to get major donor countries to ante up future contributions in advance, and cough up more voluntary funds in the future.In its planning committee documents, the WHO bureaucracy promises to get a better grip on its finances in the near future.Among the cost management efforts will be higher levies on voluntary donations to cover WHO staff costs — higher administrative fees, in short — along with more voluntary and fully flexible donations that can be used at the management's discretion, rather than being earmarked for specific programs.Click here for the resource management report.It will be another year, however, before WHO's overseers will be able to see if its management juggling will bear adequate fruit.All in all, that is not a confidence-building credential for an organization that is simultaneously trying to reorganize the world's medical research, development, production and distribution system — and make the world's consumers and taxpayers pick up most of the multibillion-dollar tab.George Russell is executive editor of Fox News.

DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.

JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.

REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.

EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed: their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.

REVELATION 13:16-18
16 And he(FALSE POPE) causeth all,(WORLD SOCIALISM) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(CHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
18 Here is wisdom. Let him that hath understanding count the number of the beast: for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM

WORLD MARKET RESULTS
http://money.cnn.com/data/world_markets/
CNBC VIDEOS
http://www.cnbc.com/id/15839263/site/14081545/?tabid=15839796&tabheader=false

HALF HOUR DOW RESULTS WED MAY 12,2010

09:30 AM +1.25
10:00 AM +81.47
10:30 AM +92.50
11:00 AM +93.33
11:30 AM +79.12
12:00 PM +84.64
12:30 PM +110.03
01:00 PM +114.64
01:30 PM +123.16
02:00 PM +118.50
02:30 PM +134.07
03:00 PM +143.14
03:30 PM +144.57
04:00 PM -148.65 10,896.91

S&P 500 1171.67 +15.88

NASDAQ 2425.02 +49.71

GOLD 1,240.70 +20.40

OIL 75.38 -0.99

TSE 300 12,196.10 +195.50

CDNX 1625.73 +13.15

S&P/TSX/60 716.83 +11.84

MORNING,NEWS,STATS

YEAR TO DATE PERFORMANCE
Dow +33 points at 4 minutes of trading today.
Dow +1 points at low today.
Dow +150 points at high today so far.
GOLD opens at $1,239.00.OIL opens at $76.28 today.
GOLD AT ALLTIME HIGH OF $1,248.20

AFTERNOON,NEWS,STATS
Dow +1 points at low today so far.
Dow +150 points at high today so far.

WRAPUP,NEWS,STATS
Dow +1 points at low today.
Dow +150 points at high today.

CRUDE OIL +1.9 MILLION BARRELS.
GASOLINE -2.8 MILLION BARRELS.
DISTILLATE INVENTORIES +1.4 MILLION BARRELS.
REFINERY UTILIZATION

GREECE ITS ROBBERY,NOT BAILOUT
http://www.youtube.com/watch?v=FOENajeR2qE&feature=player_embedded

The Fed Is Using Its Cronies And Lobbyists To Stop Us From Auditing It Ron Paul Texas Straight Talk Tuesday, May 11th, 2010

It doesn’t come as too much of a surprise that the measure to audit the Federal Reserve is coming under continuous fire from the central bank and its cronies. For the first time since the Federal Reserve was created nearly a century ago, they have hired an actual lobbyist to pound the pavement on Capitol Hill. This is a desperate effort to hang on to the privilege of secrecy and lack of accountability they have enjoyed for so long. Last week showed they are getting their money’s worth in the Senate.At the very last minute on the floor of the Senate, supposed compromise language was agreed to and substituted in the Sanders Amendment to the Financial Reform Bill. This language was acceptable to the administration, committee leadership, and to the Fed. The trouble is, while it is better than no audit at all, it guts the spirit of a truly meaningful audit of the most crucial transactions of the Fed. In fact, rather than still calling the Sanders Amendment an audit, maybe it should instead be called more of a disclosure at this point.The new language of the Sanders Amendment requires a one-time disclosure from the Fed of 13(3) facilities, foreign currency swaps and mortgage-backed securities. Basically, their sins of the past would be revealed and Americans would know more about who got bailed out by the Fed and under what terms. This would be good, but its not nearly enough.

Taxpayers are sick and tired of bailing out privileged, dysfunctional institutions that should be allowed to fail in order to stop their ability to wreak havoc on our economy. Perpetuating these corporations at taxpayer expense is not just wasteful, it is actively harmful. It would be good to know what went on in the past, but what about accountability in the future? A one-time disclosure now will not do us a lot of good down the road when the cycle repeats itself and friends of the Fed find themselves in trouble again.More importantly, agreements with foreign central banks are not touched by the new Sanders Amendment language. At a time when Greece, Portugal, Spain and other countries are experiencing dire financial crises and have their hands out to the international community, we need to know if our Federal Reserve is at all involved in bailing them out. As weary as we are of bailing out companies, the American people would not stand for bailing out entire countries. Our government is wasteful enough in its own affairs without contributing to the waste of other countries. Yet the Fed currently has the tools it needs to do just this, and to do it in secret.If we cannot take away the Fed’s ability to waste trillions of taxpayer dollars on failing companies and failing countries, at the very least, we can take away their ability to do this with no transparency or accountability to the American people. While the Sanders Amendment no longer contains a full audit, Senator David Vitter has introduced an amendment which contains the Audit the Fed language that passed the House last fall. The Senate must pass the Vitter amendment for full disclosure and full accountability going forward.

Barroso calls for reform as shine fades on bail-out
ANDREW WILLIS 11.05.2010 @ 17:40 CET

EUOBSERVER / BRUSSELS - European Commission President Jose Manuel Barroso has called on member states to tackle the imbalances behind the eurozone's recent crisis, as the sheen on Europe's day-old financial support mechanism already shows signs of fading. It's not just about giving money, its about asking member states of the eurozone to make additional efforts for the correction of some unbalances that still exist,Mr Barroso said on Tuesday (11 May) after meeting with OECD secretary general Angel Gurria in Brussels.EU finance ministers yesterday agreed a massive €750 billion relief package, together with the IMF, to prop up struggling eurozone governments that may need to request external help. Just days before, euro area leaders signed off a €110 billion bail-out for Greece.Rising government debt and deficit levels have catapulted the region into a maelstrom of financial turmoil in recent months, as investors increasingly questioned the credit-worthiness of member states.Mr Gurria said Monday's rescue package has credibility and was the right size. I think it is going to generate the time to look objectively at the fiscal problems that made it necessary in the first place, he added. We will see in the next few days Portugal announce special additional efforts and I'm sure that tomorrow Spain will come out with a very strong package,the OECD chief said in reference to the two southern economies that have come under the glare of markets.

Others agree that the massive eurozone support package - made up of €60 billion in immediately accessible funds, €250 in IMF money and €440 in bilateral loan guarantees - will do little more than buy the beleaguered currency bloc limited breathing space. On Monday, Finnish Prime Minister Matti Vanhanen said: The most important thing after this decision ... is to avoid feeling good about everything being well permanently, because in the background there are the bloated deficits.

As well as agreeing stronger budgetary rules to stamp out excessive deficits, Mr Vanhanen said the EU must implement structural reforms to increase its competitiveness relative to the rest of the world. The economy of the eurozone contracted 4.1 percent in 2009, and is expected to grow by a meagre one percent this year. In comparison, the United States, where the crisis originated, saw its economy dip just 2.4 percent last year, with growth of 3.1 percent forecast for 2010. Already on Tuesday, market euphoria related to the European financial stabilisation mechanism showed signs of waning, with European stocks and the euro currency closing lower than the previous day.

Commission proposals

Mr Barroso's comments come less than 24 hours before the EU executive is due to publish an ideas paper on greater economic co-ordination and tighter budgetary rules for the European Union. Speaking from New York on Monday, the EU's internal market commissioner Michel Barnier said greater harmony in budget policies would be needed to prevent a repeat of the recent crisis that plunged the euro currency. More economic governance is needed in the eurozone, more co-ordination and supervision of budgetary and economic policies, he said.However, colleague Olli Rehn, the EU's economy commissioner, received a frosty reception from EU finance ministers meeting in Madrid last month when he suggested euro area members and the commission should examine national budgets before they were passed to national parliaments. Amongst other ideas expected to feature in Wednesday's commission communication are plans to reduce EU funding for national governments that repeatedly break the bloc's budgetary rules.

Obama calls for resolute spending cuts in Spain
VALENTINA POP Today MAY 12,10 @ 09:26 CET

EUOBSERVER / BRUSSELS – US President Barack Obama on Tuesday asked Spain for resolute action to stem its widening deficit, in order to regain market confidence in the eurozone and avoid a spill-over effect from Greece.President Obama and Spanish President Jose Luis Rodriguez Zapatero ... discussed the importance of Spain taking resolute action as part of Europe's effort to strengthen its economy and build market confidence,the White House said in a statement. Washington is backing austerity measures in Spain and other European countries because of a fear that anything might stem the recovery that we believe is taking place, Mr Obama's spokesman, Robert Gibbs, told journalists in Washington.Mr Obama's phone call to Madrid was part of the ongoing consultations with close allies on the troubles affecting the eurozone, he added.The US president has been working the phones in recent days to EU leaders struggling to defend the eurozone from growing market speculation on its ailing southern economies.His extensive talks with German Chancellor Angela Merkel and French President Nicolas Sarkozy are believed to be one of the catalysts behind the €750 billion bailout agreed over the weekend by the leaders of the eurozone.Mr Zapatero is due to present on Wednesday (12 May) spending cuts of €5 billion this year and a further €10 billion in 2011, in a bid to stem the public deficit, which is currently at 9.8 percent of the GDP.

According to the eurozone's internal rules, deficits cannot surpass 3 percent of the GDP. Spain already approved an austerity package in January but has so far failed to cap its widening deficit.EU leaders last weekend pressed Madrid for even deeper cuts, saying that these plans are not tough enough to calm markets, but Spanish finance minister Elena Salgado managed to resist the pressure, El Pais reported.She argued that the meeting was called to discuss bail-out mechanisms, not Spanish austerity, and to plead for more time for her government to come up with additional measures.Cutting social benefits will be tough for Spain's centre-left government as the country's unemployment rate has recently surpassed 20 percent and the economy is expected to shrink by 0.4 percent. In addition, Spain's tax inspectors' union (Gestha) calculates that 23 percent of the country's GDP is attributable to its shadow economy, which grew about 0.7 percent last year.

David Cameron becomes UK leader in pact with Lib Dems
LEIGH PHILLIPS Today MAY 12,10 @ 09:28 CET

After 13 years in opposition, the UK's Conservative Party has returned to office heading the first coalition government the country has known since World War II, following the failure of talks between the Liberal Democrats and the Labour Party to forge a deal between the two left-of-centre parties.Tory leader David Cameron, speaking on the steps of Number 10 Downing Street as supporters cheered and opponents already began to gather, said: This is going to be hard and difficult work.
Liberal leader Nick Clegg is to be awarded the deputy premiership in return for his party providing a stable alliance to the Conservatives, who had won the most seats and votes, but were shy of an outright majority.It is understood that talks between the Liberal Democrats and Labour foundered as prominent Labour actors began to publicly baulk at the idea of a coalition, underlining to the Liberals the fragility of any would-be partnership between the two parties and a ragged band of minor parties.

Beyond Mr Clegg prominent place in the new government, the Liberals have won five cabinet roles and 15 other lower-ranking ministerial positions.Conservative George Osborne is to be chancellor and William Hague, a former Tory leader, is to be foreign secretary.Full details of the pact between the two sides are still unknown, but the agreement will see a review of laws that Liberals and others have argued under Labour undermined civil liberties, and the Labour-introduced ID card system will be scrapped.The lynchpin to the deal however was a promise of a referendum on an alternative vote system, a step towards a more continental proportional representation form of voting, to replace the current 'winner-takes-all' first-past-the-post system. However, Conservatives will be allowed to campaign against the change during the referendum.The Liberals, who had backed an amnesty for irregular immigrants in the election campaign, for their part have now accepted the Tories' plans for an annual cap on immigration.They have also given way over Tory wishes to deliver a special tax status to married couples.Underscoring traditional conservative themes of personal responsibility, Prime Minister David Cameron said his new era would be one in which We do not just ask what are my entitlements, but what are my responsibilities, one where we don't ask just what am I just owed, but more what can I give.

Outgoing leader Gordon Brown for his part declared that despite the result, a majority of UK voters had supported left-of-centre parties: We know more certainly than ever before that there is a strong progressive majority in Britain, I wish more than I can possibly say that I could mobilise that majority.One thing that will not change is that I am Labour and Labour I will always be, he said.

EU farming nations oppose Mercosur talks ahead of key summit
ANDREW WILLIS Today MAY 12,10 @ 09:22 CET

EUOBSERVER / BRUSSELS - A group of ten EU member states have indicated their opposition to the resumption of South American trade talks, just days before European and Latin American leaders are to sit down for a major summit in Madrid. Led by France, the ten states on Tuesday (11 May) said the resumption of talks with the Mercosur trading bloc, comprised of Argentina, Brazil, Uruguay and Paraguay, sent a highly negative signal to Europe's struggling farm sector.The European Commission last week announced its decision to restart the talks, suspended in 2004, citing clear economic benefits for both sides from an eventual deal. But Europe's farming nations fear the agricultural might of Argentina and Brazil, two of the world's largest beef producers, and say no further concessions can be granted above those already given under the Doha round of multilateral trade talks.The ten nations propose to submit a joint statement to EU agricultural ministers next Monday, reports AFP, the same day a bilateral EU-Mercosur summit is scheduled to take place in Madrid. A statement from the ten opposing the resumption of talks, Austria, Finland, France, Greece, Hungary, Ireland, Luxembourg, Poland, Romania and Cyprus, read: We regret that it has been taken without prior political debate with the Council, and without a debate on the possible economic impact of an agreement.The ambitions and interests of both parties do not appear to allow progress to be made in these negotiations, which were begun in 1999, unless further concessions are made on agriculture by Europe, and this would be unacceptable,its continues.

Lat-Am summits and trade complications

The latest dispute will add to already existing frictions between Europe and central and southern American regions. Madrid has used its six months at the helm of the EU presidency to push forward a number of bilateral trades deals with its former colonies, but the commission was last week forced to suspend talks with the central American trade bloc due to a number of outstanding differences.It now looks increasingly unlikely that the deal will be initialed in Madrid next week at a bilateral meeting between the two sides on 19 May, despite the EU apparently waiving concerns related to a coup d'etat in Honduras last June, following which there were widespread reports of human rights abuses.A majority of Latin America's leaders had threatened to boycott the main EU-Latin America and the Caribbean Summit on Tuesday (18 May) in protest against the attendance of the new conservative Honduran leader, Porfirio Lobo. In the end, Mr Lobo said he would skip the main event to enable it to go ahead. The EU will be represented by European Council President Herman Van Rompuy, Commission President José Manuel Barroso, EU High Representative Catherine Ashton and trade commissioner Karel De Gucht.Bilateral trade talks between the EU and Peru and Colombia were wrapped up in March, in time to be initialed next week, but they too have proved problematic. Endowed with fresh powers under the EU's new rulebook, the Lisbon Treaty, a large number of MEPs have signaled they will refuse to give their final approval to a bilateral deal with Bogota until the country improves its human rights record. Colombia currently has the highest rate of trade unionist murders in the world.

Bolivia and Ecuador had formerly been part of bloc-to-bloc talks between the EU and Andean Nations, but the two dropped out, resulting in the commission initiating bilateral discussions with Peru and Colombia instead, a decision criticised by Bolivian vice-minister for foreign affairs Pablo Guzman in the European Parliament last month. Since the start of bilateral talks we have had something of a crisis in the Andean community,he told MEPs in the parliament's trade committee.

Diplomatic service talks proceed in fractious atmosphere
HONOR MAHONY 11.05.2010 @ 18:10 CET

EUOBSERVER / BRUSSELS - Four-way talks on finalising the diplomatic service broke off on Monday evening (10 May) with no real progress between the two main protagonists - EU foreign policy chief Catherine Ashton and the European Parliament.

The two-and-a-half-hour-long debate involving Ms Ashton, two MEPs, Spanish foreign minister Miguel Moratinos and institutional affairs commissioner Maros Sefcovic came no closer to finding a compromise on issues identified by the parliament as being essential for its approval of plans for the new service.Sources close to the discussions suggested the Ashton camp was frustrated at the MEPs' insistence on talking about nitty-gritty details rather than looking to achieve an overall political agreement. From Ms Ashton's point of view, the talks did not go down that well,said an official.The foreign policy chief's blueprint for the service was accepted by member states toward the end of last month. The European Commission has also given its political backing. But the wild card in the negotiations is proving to be the European Parliament.Its co-decision power over changes to the financial and staff regulations - needed to get the service on its feet - gives MEPs a de facto veto. According to the leader of the Liberal faction in the chamber, Guy Verhofstadt, present at Monday's talks, last night's discussion ... has unfortunately not led to any great progress on the EEAS [European External Action Service] dossier.[The parliament] is prepared to move quickly on these issues - and indeed our initial report on the EEAS dates back to October last year - but so far we have seen little sign of movement from the Council, he noted.

Among the most important demands on the parliament's wish-list - there is about 10 issues on the table - is attaching the diplomatic service to the European Commission in budgetary terms and the appointment of political representatives to deputise the ever-busy Ms Ashton.Mindful of the recent EU trend towards intergovernmentalism - agreements between member-state governments rather than ones crafted by EU institutions - MEPs say the service must be attached to the commission, otherwise it risks setting a precedent for other pseudo institutions in charge of spending vast amounts of EU money but outside immediate political control. They are also looking for clarity on who should represent Ms Ashton on foreign policy issues and stand firmly opposed to a civil servant taking on the role.

Concessions

Ahead of the talks Ms Ashton sent a letter to the EP budgetary committee in which she assures the purse-string-holding deputies that parliament will have its full powers of discharge over the EEAS with me in the front line in terms of political accountability.She has also drafted a statement on political accountability, seen by EUobserver, which tackles the 10 issues on the table due to be discussed with parliament. The statement makes some important concessions to the assembly, including pledging that parliament will be consulted on the planning of election observation missions; slightly extending the current system of allowing five MEPs access to classified information to other MEPs on a need to know basis; and giving information about planned common foreign and security policy missions ahead of their deployment.Points that are likely red lines for Ms Ashton, who needs to keep member states on her side, include demands by deputies in the budget committee to limit the room for manoeuvre within the Common Foreign and Security Policy budget by making it much more detailed and by stopping portions of funds from being transferred from one part of a mission to another. Member states are keen to keep the status quo in order to respond quickly to unforeseen events and to prevent MEPs from politicising the CFSP budget.

Looking for a June agreement

For her part, Ms Ashton is keen to get the service fully agreed before EU leaders meet for summit in June so she can start putting the first elements into place before the summer break.In the meeting, [Ms Ashton] put forward a number of new elements that she feels go a long way to meeting parliament's demands, said a spokesperson.She now hopes that the parliament lives up to its responsibilities.
According to an official recounting the position of MEPs, Ms Ashton's political declaration represents a big step forward, although parliament has been asking for this for over three months. But the official pointed to where to put the EAS and the issue of deputies as areas where no significant progress has been made The talks are due to resume in two weeks' time.

Tea Party Clueless About U.S. Tax Dollars Funding Bailout Heist .Silence from anti-tax movement on bailouts is deafening – and dangerous Paul Joseph Watson
Prison Planet.com Tuesday, May 11, 2010

As CNBC hosts Joe Kerne and Rick Santelli pointed out yesterday, the Tea Party movement seems largely clueless about the fact that a huge chunk of the $1 trillion dollar bailout heist being pushed through to save the face of global economic governance is being funded with dollars looted from American taxpayers.Founded on the principle of keeping taxes low for the benefit of the economy, the Tea Party movement has seemingly ignored the biggest and most insidious stealth tax – inflation – which as Ron Paul highlighted yesterday, will only soar as a result of this latest bailout.Could you really tell the American taxpayer, you can connect the dots between them and Greece? I mean are they paying for some lavish benefits in Greece right now? asked CNBC’s Kerne.Well there’s no connect-the-dots, Santelli replied.I mean it is a fact. We contribute a little less than 18 percent to the IMF. And the IMF is pretty much using its entire piggy bank, of course to pledge up to €250 billion, no matter how you slice it, Joe. Eighteen percent of that money, or more, because you know, if they go much beyond this, they’re going to have to replenish the coffers.

And we know that replenishing the coffers means not only raising taxes on Americans but also inventing new ones out of thin air, which will then go straight to the IMF to bankroll the next phase of global governance. It’s not good enough for these people to impose inherently undemocratic centralized systems of economic planning that only they control which then result in lowering your living standards – you have to pay for the whole thing to begin with.In addition to Americans picking up the tab for the IMF’s bailout of Europe, they will also be waving goodbye to further unknown billions in the form of Federal Reserve credit swaps, with the Fed directly sending U.S. dollars to European banks. And don’t believe for a second that you actually have a right to know to which foreign entities these untold billions are heading – because Ben Bernanke refuses to tell us.I don’t think the average Tea Partier knows we’re paying for lavish benefits in Greece for public employees over there, Rick, Kerne said.I think maybe you need to tell them.But it appears as if the Tea Party and the American public as a whole has bailout fatigue and has completely lost track of the trillions stolen from them and the consequences this will have in the not too distant future.Perhaps when the government keeps increasing the retirement age out of their reach, or when they outright pillage their pension funds will Americans finally grasp what all this truly means. Perhaps the drastic cuts in public services, in policing, and further withdrawals from infrastructure and road maintenance funds will create the flash point that will lead to similar scenes we’ve seen in Greece unfolding on American streets.But as it stands, Kerne and Santelli are right, the silence from the Tea Party in reaction to the bailouts is deafening, and if such a meek response is to continue then the entire momentum, purpose and relevance of the movement will quickly begin to dissipate.
Watch VIDEO HERE
http://www.prisonplanet.com/tea-party-clueless-about-u-s-tax-dollars-funding-bailout-heist.html