OBAMA LIES AND DOUBLE-CROSSES THE G-8 AND G-20

cropped-chrisstory

TORONTO ATTENDEES FALSELY TOLD THAT PAYMENTS WERE MADE ON THURSDAY 24TH JUNE. CIA’S BANK OF AMERICA LIES THAT PAYOUTS TO BONNEY OCCURRED.

Sunday 27 June 2010 01:01

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IN REALITY A FURTHER $4.7 TRILLION HAS BEEN STOLEN
ON TOP OF $1.8 TRILLION STOLEN FROM PAYOUT FUNDS ON 10TH JUNE
UPDATE: Sunday pm UK: The $4.7 trillion has been found. It had been placed on overnight.

‘PRESIDENT’ OBAMA DELIBERATELY DECEIVES THE G-8 AND G-20 DELEGATIONS

UPDATE: G-20 DELEGATES LAUGHED AT OBAMA WHEN HE LIED TO THEM THAT THE
PAYMENTS HAD BEEN EFFECTED. REASON: THEY HAD ALL RECEIVED COPIES OF
ATTORNEY HODGES’ LETTER, POSTED BELOW, TO GEORGE OSBORNE, THE BRITISH CHANCELLOR OF THE EXCHEQUER. THIS CONTAINS EXTREMELY DAMAGING FACTS.
So the G-20 powers are ALL FULLY APPRAISED of the Obama White House’s criminality.

LETTER FROM LAWYER A. CLIFTON HODGES TO GEORGE OSBORNE,
BRITISH CHANCELLOR OF THE EXCHEQUER, DATED 25TH JUNE 2010:
THIS LETTER CONTAINS DYNAMITE INTELLIGENCE

OTHER EVIL DEVELOPMENTS, IN SUMMARY

MALICIOUS RUMOURS ABOUT THE QUEEN

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NEW REPORT STARTS HERE:

OBAMA DELIBERATELY DECEIVES THE G-8 AND G-20 DELEGATIONS
In a further confirmation of ‘President’ Obama’s serial and embedded criminality and Financial Terrorism, he has tried to bamboozle the G-8 and G-20 attendees in Toronto into accepting false assurances that the hijacked assembled payouts were effected on 24th June 2010.

No-one in attendance believes a word this criminal says any more, given his successive lies, the last of which we reported prior to the preceding report, being ‘President’ Obama’s ultra vires intervention to delay the payments over a long weekend to 1st June, a reckless move which laid him open to litigation as being personally responsible for that delay (having pierced the veil of his office and acted outside its parameters), and thus personally liable to disgorge billions of dollars plus accrued compound interest.

• When he leaves office he may be sued for billions of dollars.

In response to ‘President’ Obama’s lies and his blatant deception of the G-8 and G-20 powers, we publish below the letter from Mr A. Clifton Hodges to the Rt Hon George Osborne, British Chancellor of the Exchequer dated 25th June 2010. It contains dynamite intelligence.

You will readily understand that by presenting the damning intelligence contained in this lawyer’s letter by this means, the Editor is spared unavoidably ill-informed bombardment by people who cannot possibly be expected to know the gory detail of what is going on behind the scenes. Such intelligence can only be procured from the actual sources, not from secondary, tertiary or hearsay provenance.

This implies no criticism whatsoever of outside concerned parties who are as anxious as we are for this snakepit of gross evildoers to be consigned to the everlasting lake of fire as soon as possible: which of course is where every single one of them is headed anyway.

Contained in Mr Hodges’ letter to George Osborne is confirmation that instead of the monies being released, $4.7 trillion was diverted/stolen, on top of the $1.8 trillion that was stolen on 10th June 2010, which we report here for the first time.

The diverted $4.7 trillion is of course being illegally traded over this weekend.

It is correct that resistance to the Settlements and the US Dollar Refunding Programme is motivated, in accordance with the orders of the Head Serpent, George H. W. Bush and his criminal CIA-apparat, from whom (as you will see in Mr Hodges’ letter, Financial Terrorist ‘President’ Obama takes his instructions), by the reality that the releases and the US Dollar Refunding Programme will completely decapitate the entire secret power of the criminal Financial Terrorism Octopus once and for all. This is the secret essence of this crisis.

That’s why the US Congress, implicated up to its criminalist eyeballs, has been ducking and weaving, to try to preserve the Fraudulent Finance carousel which is what keeps the criminal enterprise banks alive. The Basel III norms have also been modified somewhat. The new US banking legislation is unspeakably dreadful, the product of twisted, compromised minds bent on maximising wriggle room, rather than resolution.

Speculation that the mechanism of the Dollar Refunding Programme will leave the United States permanently indebted to HM The Queen, is idle, ill-informed claptrap.

The mechanism is self-financing, has no implications for the United States and its people apart from the singular fact that it showers windfall tax accruals transparently onto the unwilling US Treasury’s books, thereby reversing the century-long US deficit-financing death trap, which the criminalised US Treasury has been seeking to retain contrary to all logic, common sense and morality, in order to preserve the bankers’ ramp Financial Terrorism carousel.

• The lender is repaid from the proceeds of the on-the-books trades after UK and US taxation.

Following the expiry of ‘President’ Obama’s fake 1st June deadline, the CIA was at a loss to know what to do next; so they compiled dossiers based on false data and false witness to try to discredit Michael C. Cottrell, B.A., M.S., and Attorney-at-Law Mr A. Clifton Hodges, which they sent to MI-6 and possibly also to Buckingham Palace.

MI-6 responded by asking the MI-6 approved Gold Badge (i.e. also CIA) Paymaster his opinion of the dossiers. Mr Bonney responded by telling MI-6 that they were ‘largely wrong’, believed to be an understatement. He could hardly have done otherwise, as it was Mr Bonney himself who investigated Mr Cottrell and gave him a completely clean bill of health. Our sources inform us that the dossiers were ‘laughed at’ on this side of the Atlantic.

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LETTER FROM LAWYER A. CLIFTON HODGES TO GEORGE OSBORNE,
BRITISH CHANCELLOR OF THE EXCHEQUER, DATED 25TH JUNE 2010:
THIS LETTER CONTAINS DYNAMITE INTELLIGENCE

HODGES AND ASSOCIATES
A PROFESSIONAL LAW CORPORATION
4 EAST HOLLY STREET
SUITE 202
PASADENA
CA 91103

Telephone: (626) 564-9797
Facsimile: (626) 564-9111

A. Clifton Hodges
James S. Kostas
Donald W. Ricketts*
Of Counsel

June 25, 2010

Sent Via E-Mail and Facsimile:
The Right Honorable George Osborne, MP
Chancellor of the Exchequer
HM Treasury
Whitehall
London SW1A 2HQ
Fax No. 020 7270 4580

Re: U.S. Dollar Refunding Project

Dear Honorable George Osborne:

I write to you on a most urgent basis in furtherance of matters raised in my prior correspondence to Buckingham Palace; I understand that you have been instructed and made aware of my approach, and the various points raised in my earlier notices. Your assistance is most urgently required in addressing matters of world financial concern, and the apparent disavowal of earlier promises to accept U.S. Dollar Refunding Project agreements made and reaffirmed at earlier G-8 meetings.

I most recently wrote to the Palace on May 28, 2010 to solicit the assistance of your government in securing the release of funds being held in the U.S. which are required for implementation of the U.S. Dollar Refunding Project. I write to you again in furtherance to that subject, on behalf of my clients Michael C. Cottrell, B.A., M.S., of Erie, Pennsylvania, USA, and his corporations: Pennsylvania Investments, Inc., registered in the Commonwealth of Pennsylvania, and Cottrell Securities Limited, registered in England and Wales.

The events of the past few days are particularly troubling. As of the afternoon of June 25, 2010, I am advised and understand the following:

World Global Settlement funds had been collected and were in the custody of the Bank of America in Richmond, Virginia.

Said funds were sufficient to cover all disbursements to be made by the authority of the Paymaster for the purpose of concluding these transfers in accord with the BASEL agenda.

On May 27, 2010 US President Barack Obama personally intervened in the scheduled May 27 release of funds, and instructed that the funds be held until after the U.S. Memorial Day Holiday.

I personally wrote to President Obama, protesting his actions, a copy of which was also submitted to the British Royal Monarchal Power; Mr. L.H. Bonney, Sr. personally verified that a copy of the letter was submitted to, and received by, HM The Queen via MI-5 and MI-6.

US Vice President Biden was also provided a copy of the May 27, 2010 letter and acknowledged the veracity of President Obama taking direction from former President G.H.W. Bush; he indicated that President Obama’s citizenship status was being used as very effective leverage against the President, and also admitted that he was personally compromised.

Mr. L. H. Bonney, Sr. has confirmed at Bank of America that no communication has yet been received from President Obama regarding authorization for release of the Settlement funds.

On June 23, 2010 Mr. Bonney advised that “they are letting the Obama/Bank of America people believe they are in control” giving them rope to hang themselves, and after 5:00 PM the funds will be released to his custody; he also advised that the Chinese lien-holder will act on Thursday in accord with the Special Foreclosure.

Although moneys for complete payout were confirmed by the Federal Reserve/Bank of America, US Vice President Biden was at the same time advising authorities that he is ready to “move on, and out of the White House”.

On Thursday, June 24, 2010 Mr. L.H. Bonney, Sr. advised that payment must be released to him by noon or there would be “hell to pay”; Vice President Biden was unable to obtain immunity such that he could “move on” even though Hilary Clinton had voiced a desire to be appointed Vice President of the United States.

The Chinese lien-holder was insisting on payment release after funds had been reconfirmed, even though a further attempt was made to steal the funds by Obama’s California banker, Carlson; as a result, all of Obama’s bankers and most (if not all) of the Bushs’ bankers have now been arrested.

In the evening of June 24, a video tele-conference between the “company” [the CIA] and the Connecticut Trustee, Paul Sigue, regarding the release/movement of funds was held; there is a concern that on release, stolen funds will be moved and paid to the Bush/Clinton cabal.

Mr. Bonney also advised that the Foreclosure Date is not June 24, 2010 – it is actually July2, 2010; although Mr. Bonney advised that three trusts would be paid out on June 24, such payout would not include payment for the U.S. Dollar Refunding Project, or anyone associated with it; Dana Wilcox later advised that any payouts made would include all parties.

[Editor: The obfuscation and redirection, confusion-maximising dialectic as usual].

As of 10:30 AM EDT this morning of June 25, 2010, the display screens at Bank of America, Richmond, Virginia were blank, indicating that the funds had been removed; no information was available to any party or payee regarding the location and/or distribution of such funds before 12:30 PM, which results in a further delay until Tuesday, June 29, 2010.

Just prior to the 12:30 PM deadline, Dana Wilcox verified that at least $ 4.7 Trillion of the funds had been removed to an unknown location; accordingly, he advised Mr. Lindell H. Bonney, Sr. to call MI-6, Her Majesty the Queen, Geneva, Switzerland, and San Marino, Italy, to inform them that the FUNDS ARE MISSING and HAVE NOT BEEN PAID OUT or released to Mr. Bonney.

All members and attendees at the G-8 and G-20 meetings should be made aware that THE PAYMENTS PREVIOUSLY AGREED TO AND SET FORTH ON THE BASEL LIST HAVE NOT BEEN MADE, AS A DIRECT RESULT OF THE ACTIONS OF OBAMA, ET. AL. [see above].

As of 1:15 PM EDT this afternoon, the Bank of America in Richmond is now alleging that THE PAYOUTS HAVE BEEN MADE AND RELEASED TO MR. BONNEY

I am persuaded by these facts, that direct intervention of the Royal Monarchal Power through your good offices, is absolutely required to bring this matter to conclusion. To secure release of these Settlement funds, it is now imperative that this power, as a U.S. Treasury lien-holder, be exercised forcefully to effectuate resolution.

Any further delay not only jeopardizes the severely stressed world financial condition, but serves to encourage those seeking even further delay.

This is a matter which can now only be concluded at such time as the Royal Monarchical Power utilizes the power which has been granted; direct intervention is imperative.

Thank you very kindly in advance for your help; it is truly appreciated by many, and will have significant impact on the future financial health of the world.

Sincerely,

HODGES AND ASSOCIATES

[Signed]

A. CLIFTON HODGES

ACH/gm

Cc: Her Majesty Queen Elizabeth II
Lindell H. Bonney, Sr.
Dana Wilcox
Michael C. Cottrell, B.A., M.S.
President Barack Obama
Interpol, USNCB

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OTHER EVIL DEVELOPMENTS, IN SUMMARY
Observe first that whenever these filthy Nazi snakes ‘pull’ a contrived abomination, the diversion, obfuscation, redirection and rank disinformation apparat in the background immediately disgorges one or more ‘explanations’.

Using third party websites which specialise in leveraging the potential for intensifying the fog of confusion and redirection, plus controlled ‘mainstream’ broadcast and press outlets, layer upon layer of further ‘explanations’ and speculation are piled on top of the early fabricated ‘explanations’, with the objective of ensuring that the truth of the sabotage is blotted out.

(1): The BP oil spill is of course a dreadful case in point. Evidence that this is a Cheney-orchestrated sabotage operation emerged right at the very start of the reporting with that information about criminal enterprise (see our earlier reports, passim) Halliburton’s dud cement component, and Halliburton’s purchase three months earlier of a clean-up firm. Transocean, the US owner and operator of the Deepwater Horizon oil rig, relocated to Zug, Switzerland, two years ago. Zug ‘just happens’ to be where Mark Rich operates. Mark Rich’s real name is Hans Brand, a long-range German Deutsche Verteidigungs Dienst (DVD, Nazi strategic deception) operative.

The report that BP appraised The Obama Administration on 13th February 2010 that the Deepwater Horizon was leaking oil and natural gas onto the ocean floor, is accurate.

BP was fighting large cracks at the base of the well for roughly ten days in early February.

BP asked for the US Administration’s assistance long before the deadly accident. The Obama Administration was therefore fully cognisant of the situation (naturally, since Halliburton is one of its main ‘Black’ operations) a long time before the mysterious explosion in April.

• It follows, therefore, that the Terrorist Obama Administration is criminally implicated in this deliberately ‘permitted’ catastrophe.

The purpose of this operation has been (a) to divert attention from the illegal terrorist hijacking, blocking and stealing of the payout funds, in exactly the same way that 9/11 was used inter alia to destroy and annul the Cantor Fitzgerald contracts; and (b) to provide the Dark Actor Playing Games in the White House with scope for blaming the British. Why blame the British?

Because The Queen, with the Chinese, has not yielded to this criminality and is party to the $47 trillion lien on the Treasury that we originally announced effective around 6th December 2009; and because the approved Dollar Refunding Programme, which is to be operated because of the US intransigence from London, strikes at the very heart of the Fraudulent Finance carousel and, in the context of the Settlements, destroys the entire corrupt universe of fraudulent, illegal securitisation ‘assets’ (derivatives), thereby nullifying the secret power of the Octopus.

• See our ‘securitisation is illegal’ report.

The most senior and respected of Lady Thatcher’s former Ministers, Lord Young, was reported in The Times (19th June 2010) to be furious with President Obama.

Lord Young told the London newspaper:

‘His behaviour has been appalling. He sounds petulant and I do think he’s anti-British. It was symbolic that he sent back the bust of Winston Churchill that used to be in the White House. He let BP be the lightning conductor, not him’.

Cheney was admitted to the George Washington University hospital on Friday 25th June after complaining of feeling ill. He was expected to remain there over the weekend. Cheney has had five heart attacks in 32 years. He is also known on occasion to have suddenly entered hospital for hiding purposes when vulnerable to being ‘whacked’, only to be collected by his limo from a back door, on the risky and typically arrogant assumption that no-one would notice.

(2): The European leg of the long-range Nazi pan-German subversion and strategic deception operation in Europe, symbolised by the Euro, is indeed in severe jeopardy, as was predicted in International Currency Review in the 1990s, after the Maastricht Treaty, containing the same chapter headings as Europaische Wirtschaftsgemeinschaft (European Economic Community), that Nazi compendium published in Berlin in 1942, was rammed though in 1992.

When the key insider operative George Soros decides that a ‘game’ is over, he’s using inside information, not just his supposed ‘guru’ abilities.

Soros was reported earlier in June to have told Die Zeit:

‘German policy is becoming a danger that could destroy the European project. A collapse of the Euro cannot now be excluded. Unless Germany changes policy, its withdrawal from the currency union would be helpful for the rest of Europe. At the moment Germany is pushing its neighbours into deflation; this threatens a long phase of stagnation, leading to nationalism, social unrest, and xenophobia. It endangers democracy’

Berlin, added George Soros, was treating the Maastricht Treaty as a ‘sacred text’ and was failing to understand that events had moved on. That would be typical of the Nazi mentality.

• Wir sind immer rechts. We are never wrong. If we are, we never acknowledge that we are wrong and we never will. Hitler never acknowledged his stupidity in invading the USSR either.

Not to be outdone, the President of the European Commission, Jose Manuel Barroso, briefed trade union chiefs earlier in June, painting an ‘apocalyptic’ vision in which ‘crisis-hit countries in Southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money’.

Of course when veteran private observers predict such eventualities, no-one takes much notice. But when members of the ‘Great and the Good’ [sic] finally come to recognise, decades later, the accuracy of such warnings, people sometimes sit up.

(3): Deutschemark requoted: BoersenNEWS, a large German stock market portal, has, since the second week of June 2010, reintroduced quotations in DEM, alongside EUR quotations.

BoersenNEWS explained: ‘Due to the ongoing Euro crisis, many investors expect the return of the Deutsche Mark. A recent survey showed that 39% of 1,364 boersennews.de users would like the good old Deutsche Mark reintroduced. BoersenNEWS has responded and therefore will immediately display share prices in Euro and Deutsche Mark… The Euro represents a cracked economic system, not only in the world, in Europe, but above all in Germany’.

It will be recalled that we have on several occasions reported that, during a press conference in 1998, Dr Hans Tietmeyer, then President of the Bundesbank, was asked whether, in view of the impending introduction of the Collective Currency (Euro), the Bundesbank had taken the obvious precaution to hoard a stock of Deutsche Marks, for rapid distribution in the event of the Euro failing and the Bundesbank having to take emergency action as a consequence.

Instead of pooh-poohing the question and the questioner, Dr Tietmeyer did not respond.

(4): In Memoriam and Horizontalisation News: Haaretz reported on 22nd June that Danny Barack, 48, CEO of the Israeli firm Leader Capital Markets, jumped to his death on the preceding afternoon from the 17th Floor of Platinum Tower, the office building housing the firm’s headquarters.

(5): Gordon Brown wrecked an antique Downing Street table:
The demons inside the former UK Prime Minister were revealed shortly after the Cameron team entered Downing Street on 11th May 2010. They were concerned to discover deep grooves in the antique mahogany table in a panelled, ground floor office.

So extensive was the damage that an enquiry was held into who, or what, could have caused such reckless destruction. A Downing Street source was reported in The Daily Telegraph on 13th June as explaining: ‘It became apparent that the marks were caused by his [Brown’s] manic scratchings. He was clearly writing very angrily with his pen and the marks came through the paper onto the table. Some are two or three inches long and very deep’.

Specialist cleaners have been unable to remove the marks despite frantic polishing. The gauged mahogony table will therefore remain unrepaired in Downing Street: an appropriate memorial to the most destructive Chancellor and Prime Minister in British history.

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MALICIOUS RUMOURS ABOUT THE QUEEN
Suggestions running riot among the more scurrilous, reckless and irresponsible dimensions of the Internet that Her Majesty The Queen will abdicate, are evil, gross malicious lies fed to the lemmings who specialise in magnifying the fabrications and confusion fed to them by the Bush-Clinton-CIA-DVD lie machine and who lack all discernment. The Queen will NOT abdicate the Throne: that is a definitive statement, and all those who are promulating this grotesque ‘Black’ lie are assisting the kleptocracy as it struggles for its continued existence in the face of the unprecedented squeeze it never anticipated, which is devouring the Octopus’s ‘Black’ power.

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THE FOLLOWING DATA HAS BEEN PUBLISHED AT THE FOOT
OF MOST OF THESE REPORTS FOR THE PAST THREE YEARS++:

• COMPILED BY U.S. SECURITIES EXPERT MICHAEL C. COTTRELL, B.A., M.S..

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”.

Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Hauppauge:
Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

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NOTICES:

BEWARE OF MALICIOUS IMITATIONS: It has come to our notice that certain websites have been in the habit of copying reports from this site, attributing the reports to the Editor of this service, but at the same time INSERTING TEXT NOT WRITTEN BY THE EDITOR.

• This is a very old, malevolent US counterintelligence DIRTY TRICK.

Therefore, you should be advised that the GENUINE ORIGINAL REPORT is, by obvious definition, accessible ONLY FROM THIS WEBSITE. If you come across an article elsewhere that is attributed to the Editor of this service, you should refer to the ORIGINAL ARTICLE HERE and you should bear in mind that the illegally duplicated article may contain text that was NOT written by the Editor of this service, but which was inserted for malicious purposes by counterintelligence.

Likewise, although we haven’t yet had time to elaborate this issue, we have taken drastic steps around the world to close off the malicious piracy of our books. One technique used by several disreputable sites (in the United States, the Netherlands and Switzerland) is to copy our title(s) and (a) to display an image of the front cover WITHOUT THE ISBN DATA at the top of the cover; and (b) to DELETE THE COPYRIGHT PAGE.

In so doing, the criminal pirates proclaimed that they knew perfectly well that they were/are engaged in theft and can be prosecuted for stealing copyright.

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• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

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BARACK OBAMA FACES VETERANS’ DAY DEADLINE TO COMPLY

cropped-chrisstory

OR CHINA CAN EXERCISE ITS WORLD COURT LIEN ON THE U.S. TREASURY

Saturday 7 November 2009 04:30

LATE UPDATE, 10TH NOVEMBER: We have a detailed report on developments and the five SPLITS which have materialised in recent days. Wearing our publicist’s hat, we would wish to publish this new report NOW; but several associates have advised the Editor to hold back for some 24 hours in order ‘not to get in front of events’.

This is frustrating, but necessary. The matter will be reviewed late on Wednesday and if events do not develop as it is essential they must, we will expose what we know anyway, regardless.

UPDATE, 10TH NOVEMBER 2009:
The following ‘further and better particulars’ have emerged to clarify the Fort Hood sequence and related Box Gang implosion data:

(1): We reported last week that Bush Sr. (Adolf Schickelbusch) was conniving with his criminalist partner Joseph Ackermann in distributing bribes to conniving bankers and associates to persuade them to continue sabotage operations. That was the construction placed on the matter in the light of our assessment given imperfect knowledge. It will also be recalled that some time ago we stated that Bush Sr.’s passport had been removed or ‘nixed’. That raised the proper question: how, then, was he able to travel to Germany to consort with his ‘Black’ co-conspirators Helmut Kohl, Mikhail Gorbachev (Orbach or Korbach) and Joseph Ackermann?

[Incidentally, we have established that the Bush-Ackermann-Kohl and probably Gorbachev joint investment vehicle identified as Barrington Investment Group, AG., became DEUTSCHE AG, thus of course linking Adolf Schickelbusch, Gorbachev, Kohl, Ackermann directly into DVD, as Deutsche Bank is DVD’s primary laundering institution, and thus nailing the German long-range penetration and ‘takedown’ operation against the United States ever more firmly within the analysis].

The answer appears to be that he was ‘permitted’ to travel to Germany, i.e. was led to believe that the passport problem had been a ‘glitch’ that had been ‘corrected’, so that the Chinese, British and others could follow (trace) the transactions that he was known to be intending to perpetrate via Ackermann and other criminal associates in Deutsche Bank, Dresdner Bank etc. The electronic traces identified his accounts in the Caribbean, and probably also Panama.

As we have long since published relevant facsimiles of Federal Reserve Board printouts and other documents revealing details of Bush Sr. accounts, some of this information would in any case have been quite easily accessible in the public domain and, as a last resort, from International Currency Review. Be that as it may, the foregoing sequence enabled the Bush accounts in the Carribean to be sequestrated/seized, more or less in parallel with the ‘Black Ops’ violence at Fort Hood.

(2): In analyses for International Currency Review following the invasion of Iraq in 2003, we drew attention (as did others at the time) to the absurd situation whereby banknotes circulating in Iraq for a very long time afterwards were termed ‘Saddams’ as the 10,000 Iraqi Dinar banknote with the dictator’s face on it continued in circulation: whereas if the invasion had been planned properly, new currency should have been shipped in, ready for distribution to replace the ‘Saddamite’ notes.

Of course when we made this complaint, pointing out how stupidly the Iraq occupation had been botched by the Americans from the get-go in this respect, we didn’t know that 55 pallets of dollar currency banknotes printed for that purpose had in fact been diverted into Jordan, where the pallets were stored with the Central Bank of Jordan under the name of Malik.

• FACT: Malik is the middle name of the gunman, Major Nidal Malik Hasan, whom the ‘mainstream’ media have been reporting had been ‘trying’ to contact figures ‘associated with al-Qaeda’.

Since the US dollar banknotes originally intended for Iraqi dollarisation never arrrived in Iraq (they were ‘conveniently’ parked in Jordan, the implication being that they would be transferred to the commandeered Central Bank of Iraq (where over 100 US special forces had been massacred in order to cover up the Bush operation to seize the assets from the Central Bank)), the ‘Saddams’ remained in circulation, giving rise to our critical observations. A replacement delivery of Iraqi banknotes arrived in Iraq later. The parked 55 pallets of banknotes in Jordan were thus ‘available’ to be diverted/stolen, as was clearly the criminal intention all along.

The Malik trail identifies the following linkages: Malik Investments Inc., Carrollton, Texas; Malik Investments Llc., Charlotte, NC; Malik Investments Inc., Stone Mountain, GA; Ilyas Malik, Chief Manager, Habib Bank, Zurich (previously Branch Manager at the Baker Street branch, London); Malik Management Zentrum, St. Gallen Seminare AG; Malik Enterprise, based at Anaheim, CA; Malik Enterprises Llc., Key Biscayne, FL; Malik Holdings Inc., Oxon Hill, MD; Malik Trading Corporation, Madison GA; Malik’s Corporation, Washington DC.

Malik Investments Inc., established on 2nd September 2007, which filed its last annual registration in 2009 with the Office of the Georgia Secretary of State, Karen C. Handel, reports its Registered Agent as Vipul R. Patel, of Stone Mountain, GA, believed to be of PAKISTANI origin. The entity’s, CEO is Vipul R. Patel, and its Chief Financial Officer and Secretary is Raman J. Patel [DITTO].

We are authoritatively advised that this trail links to the funding of al-Qaeda, which you will recall was being perpetrated via the enclosed security compound within Morgan Stanley, that we were authorised to publicise in the fall of 2008. Note also that Jimmy Carter’s home State is Georgia, which we are also informed is NO COINCIDENCE. Finally, for the time being, we understand that Vladimir Vladimirovich Putin, the top GRU officer who is currently masquerading as Russian Prime Minister, offered a contract on oil through Malik. In doing this he foolishly compromised himself, laying himself wide open to blackmail by the ruthless Bush-Clinton Box Gang ‘Black Ops.’ cadres.

(3): Having lumbered themselves with the dubious Fort Hood cover story concerning the reported shootings, which is full of holes, the agitprop manipulators have been having to spin faster than a spinning top in order to feed the diverted ‘mainstream’ media with enough fodder to ensure that they remain diverted from the ‘Black Ops.’ operation that was proceeding in parallel behind the scenes. We know from certain indications that the clandestine community was staggered when we started to work out what had been taking place; but while they think they can ‘handle’ exposure via the Fifth Estate (by priming certain websites to spin diversionary fabricated garbage in order to redirect attention away from the ‘Black Ops’ and the underlying criminality faster than ever), they remain petrified that the ‘mainstream’ will finally wake up and ‘publish and be damned’.

[Don Harkins, of The Idaho Observer, aged 41, appears to have been murdered: he died of ‘acute leukaemia on 19th September 2009. The Editor met him at a party in Oregon in August 2008 and spoke with him at length. The Editor is extemely concerned about this in general, and in particular at the manner in which this conspicuous sudden death is dismissed out of hand as ‘just one of those things’ by people known to this Editor who ought to know better. See: In Memoriam].

(4): The following semi-literate email [which the Editor has censored to remove polluting phrases] received by a correspondent following the Fort Hood violence, contains a reference to the fact that a local radio show host was on to the inward shipment of the Chinese currency/gold boxes.

We reproduce the text [censored to remove offensive verbiage: facts are unchanged], herewith:

Thank you Bob,

NOW THIS STORY go along with the FACTS I HAD on our show
as there being “3” shooters, and one was killed one had broken free and
was being hunted down, and the 3rd [allegedly Hasan] was in custody. My
“windtalkers” radio affiliate at “Killeen” was all over this and is quite “P*ss’d”
to say the least as he was there and on top of this… ……. …. another input
came in that there was a “LARGE” shipment of “gold”/”US$” being shipped
through Ft. Hood for the Bush crime family…

Whomever* presented the info you forwarded is MORE BELIEVEABLE
than the one being [REDACTED BY CS] on the public right now… thank you.

Semper Fi,

* A Reference to our 6th November Fort Hood report.

(5): Citizens for Legitimate Government report that a retired military source has emailed them as follows: ‘I spent 10 years at Ft. Hood. There is no way this ‘official’ story is legitimate. No way would a room full of combat vets allow this one shooter to get off over 100 rounds. And, it is not normal for the outside security guards to be there. They are at the MP station, and also at the main gates. This means the room full of soldiers processing must have been pinned down; multiple shooters is the only plausible scenario. This sounds like MAJ Hasan has been used, and perhaps is a patsy’.

Finally: APOLOGIES that this sequence is being updated so much that the original related article appears ‘buried’. But the earlier updates and the original article will be found below, and all relate to the original Fort Hood sequence report posted on the 6th November 2009 [Archive]. The FEUD analysis concerning the falling-out within the Box Gang remains intact and is known to be correct.

UPDATE, 9TH NOVEMBER 2009:
First, the original Fort Hood interpretation elaborated by this service has this morning been re-reconfirmed. See the report dated 6th November for details [Archive].

Secondly, the Fort Hood update of 8th November, immediately below, has likewise been confirmed.

In summary, therefore:

(1): The Chinese boxes and their currency, gold coins etc contents, and the Caribbean accruals, stolen by the Bush Crime Family, have been confiscated/sequestrated as originally reported.

(2): The Bushes and Clintons are now engaged in a FEUD and are at each others’ throats. They have split and are attacking each other like rats in a sack over who’s got what, who’s stolen what from whom, who owes what to whom, and any other variable of the above you care to suggest. As Bush Sr. and his cronies aren’t being paid a cent, you can imagine the temperature level. Former President George W. Shrubelgruber tried to sneak into Fort Hood to intervene and find out what was going on, and his cover was blown. The two sides subsequently severed relations.

(3): Therefore, the BOX GANG appears to be in its death throes: a development which, if further confirmed, offers a ray of hope to the international community which has been abused and held to ransom by these vipers for many years.

UPDATES, 8TH NOVEMBER 2009:

(1): The Los Angeles Times reported yesterday that George W. Bush and his wife Laura quote ‘made a secret [sic!] visit to the devastated military families at Fort Hood. The Bushes had instructed the commander of the mourning military base that they wanted no publicity’.

So what did they get?

Publicity. Clearly, The Los Angeles Times reckons there’s more to this public consumption story than ‘meets the eye’. It’s report continued: ‘With their Secret Service detail, Bush and his wife made the 30-mile trip unannounced [sic!!] from their ranch near Crawford, Texas, Friday evening’.

• Comment: Obviously, with the loss of the stolen Chinese boxes, the Bushes have a great deal to lament about. The newspaper elaborated: ‘Other sources [SIC!!!] said that the former first couple spent about two hours meeting with the wounded, family and soldiers, talking quietly and at times hugging them as they did in private at other times of crisis such as post-9/11’. No piccies, though.

Excuse us while we puke. You’ll see in due course how ODIOUS and hypocritical this word picture is, citing a President who presided over the mass murders on 9/11, as ‘hugging’ the bereaved.

(2): All of a sudden, moreover, it’s far from sweetness and light between the two wings of the Box Gang. This does suggest that one dimension of what we are reporting is a FEUD between these two wings, the Bushes and the Clintons, as the latter seek supremacy and try to decapitate their criminalist rivals. We wouldn’t be surprised, then, if this underlies what went on behind the public consumption violence at Fort Hood last week. Anyway, The Los Angeles Times also reported on 7th November that George Shrubelgruber and William Jefferson Winthrop Clinton have ‘abruptly pulled out of a joint public appearance scheduled for this winter in Los Angeles’. They were also reported to have pulled out of two later scheduled joint appearances on 22nd February at University City’s Gibson Amphitheatre in New York as part of the American Jewish University’s public lecture series, and also at Radio City Music Hall on 25th February. That will be well after Rockettes time.

The reasons given varied, but they revolved around the theme that the promoter had violated a contract and ‘insisted on billing’ the events differently to what the participants wanted: which of course is familiar Bush-Clinton lies and hogwash.

No, the reason for the split is that the two wings of the Box Gang are now AT LOGGERHEADS. Given that these two operatives have more blood on their hands than a million Tony Blairs, one would expect the rate of expansion of the In Memoriam list to accelerate further.

(3): On which subject, a pile of ‘new entrants’ has accumulated since we last updated that list. The Editor was up five nights in a row last week, so hasn’t had time to make the necessary adjustments yet, and has to attend to publishing work this weekend. We’ll do this as soon as possible.

(4): A special source advises: ‘I think what you heard about Trustees being arrested may be true. We were told today [7th November] that everything was ready for closing. But some Trustees were not available’. The source said that other ‘connected’ associates thought that the problem was the Jewish sabbath [interesting], but perhaps it was because they had been arrested’. The matter is, by all accounts, in the process of ‘resolution’.

(5): The Veterans’ Day deadline for the Chinese LIEN against the US Treasury to take effect: Note that the date is 11/11/09, which devolves to 13 if you omit the two first digits of the year (2009). As you know, these brainwashed, mind-controlled madmen attach Babylonian importance to numbers (numerology), divination, sorcery, and whatnot [see the Editor’s book The New Underworld Order], so although you and I pay no attention to such claptrap, the point is that THEY do.

(6): As expected, Chancellor Frau(d) Angela Merkel, for whom a World Court arrest warrant is outstanding, appears to have been conspicuous by her absence at the latest self-important G-20 fest at St Andrew’s, Scotland, this weekend. Whereas Gordon Brown was pontificating as usual at the event, the former secretary of the Agitation and Propaganda Department of the Communist Yugend at Marx-Lenin University in East Berlin wasn’t there (as far as we can tell). Nope. She was represented instead by the hardnosed and arrogant German Finance Minister Wolfgang Schauble, whose favourite pastime is telling the Brits where to get off. It was probably ‘too dicey’ for Frau(d) Merkel to have risked surfacing at St Andrews. Besides, given her travels of late, she will probably have been in urgent need of some ‘beauty sleep’.

(7): The Sunday Times this morning has a perfectly repulsive plug, all over the newspaper, for its lead Magazine story focused on the glorification of that Mr Blankfein fellow from Goldman Sachs. This operative is billed as ‘the most powerful banker in the world’ by the Murdoch newspaper.

Unless this veteran analyst’s antennae fail him, it would appear that this time, the Jews have, like their German friends, gone too far. Even our Jewish friends agree. Adulation of this creepy fellow, who boasts about his remuneration, like his employee Lord Griffiths, pushes Jewish triumphalism over the goyim just a wee bit beyond the tolerable. As one of the community’s New York rabbis said in the mid-1990s, the Jews had better be careful not to trigger the same sort of response that took place in Germany in the 1930s, by rubbing the noses of the goyim in their pecuniary achievements.

According to the ever more subversive Murdoch Sunday newspaper, Mr Blankfein says that his institution is ‘doing God’s work’. Blankfein’s problem is that he appears to have forgotten his Torah, notably the episode when Moses was up in the Mount and the people couldn’t wait and fashioned a golden calf to worship instead. He’s all confused as to who his god really is.

• Step forward, Mammon.

(8): Passage of the Obama ‘health care’ legislation will self-evidently release a permanent flow of cash which will be ripe for diversion and use as the base for further reviving of the Fraudulent Finance derivatives carousel: which is the underlying object of the exercise. The bill is Leninist and far exceeds what Lenin had in mind, or his successors actually got round to implementing.

The headlines for this report [7th November] follow:

• CHINA AND THE QUEEN HAVE BENEFICIAL OWNERSHIP RIGHTS ON THEIR PROPERTY

• ELEMENTS UNDERLYING THE DEADLY RATCHETING-UP OF TENSION

• THE SITUATION APPEARS TO BE COMPLETELY OUT OF CONTROL

• THE FINANCIAL SYSTEM MAY COLLAPSE THANKS TO THE BOX GANG

See Insert: ARREST INFORMATION UPDATE: 7:00PM UK 7TH NOVEMBER, under (4) below…

MISPRISION OF FELONY: U.S. CODE, TITLE 18, PART 1, CHAPTER 1, SECTION 4:
‘Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some Judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both’.

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New report starts here:

OUR REPORT DATED 6TH NOVEMBER COULDN’T BE DENIED
Following our report focused on the events at Fort Hood dated 6th November, certain elements of the US structures tried to float various ‘alternative explanations’ designed to obfuscate what we published. None of these ‘lines’ gained any traction, not least because none were authoritative. What matters is that NOTHING that we published could be or has been denied.

Furthermore, while George H. W. D. V. D. Bush’s accounts were being raided in the Caribbean and the operation behind the operation was going on at Fort Hood [see report], ‘President’ Obama was up in Wisconsin where he probably decomissioned Mr Non-Ambassador Wanta under Presidential Directive as we predicted and told him that as Adolf Schickelbusch wouldn’t be paid a cent, neither would Leo Wanta and those who have pinned expectations of payment on Wanta being paid. Given that operative’s record of stealing other people’s loan money (which is what the same group has done to the Queen’s funds), this belated come-uppance represents an appropriate distribution, in the circumstances, of rough justice.

Meanwhile attempts by this service and contacts to obtain further information following the events at Fort Hood on 5th November met a resumption of the previously prevailing blackout – so that the reality, obviously, is that we do not know what the fate of the currency boxes etc. has been since the violence behind the violence at Fort Hood that we reported.

The boxes contain not just 1933 dollar currency but also 1934 currency, as well as gold coins and other assets. They have been held at Fort Hood for the past 15 years (not brought into the base very recently as tentatively speculated).

In addition, it may be recalled that one or more plane loads of money that were sent to the Middle East ostensibly to dollarise the Iraqi economy in 2003 never arrived – the reason being that it was in fact parked with the Central Bank of Jordan under the name of Malik. A total of 55 pallets of these notes, sourced by the US Treasury, is believed to have been flown back in to Fort Hood.

ELEMENTS UNDERLYING THE DEADLY RATCHETING-UP OF TENSION
The violence that erupted at that base on 5th November reflected international pressure for total resolution that in turn has triggered an outbreak of Box Gang gangsterism over the control of the assets. It is not entirely clear what the violence behind the violence at Fort Hood achieved, but what IS clear is that the entire crisis has now reached a level of global tension characterised inter alia by the following developments:

(1): On Friday 6th November, the ‘Connecticut Trustee’ was in the bank at 6:00am in New York, having required the other Trustees (believed to total 12 in number: yielding the geomasonic number 13, of course) to attend. Of the 12, five of these Trustees – all of whom ‘work for’ the Box Gang Syndicate – refused to turn up. These Trustees, taking orders from George Bush Sr. (who appears to remain vertical, we are informed, because he used to be Head of State) and Mrs Hillary Jezebel Clinton, made various excuses. BUT:

(2): These operatives were again ordered (on 6th November) to go to work and to appear at the relevant bank(s), failing which they were to be arrested on warrants which came into force at one minute past midnight Eastern on Saturday morning 7th November.

During the night (UK) while this report was being prepared, we were told that a dragnet was out looking for these five operatives, who had not surfaced as this report was being finalised. It is hypothesised that Bush Sr. has been threatening such associates with instant death should they collaborate with the Settlements payment process.

(3): Involved and informed sources inform us directly that the closing screens (‘gray screens’) were supposedly flashing with instructions to ‘call in all Trustees and Principals’, but that key personnel had not, despite these messages, been called in for closing. It is not known whether this repeated abuse of the Trustees and Principals reflects an operation the purpose of which is to provide the highest level of criminal officials with ‘protection’ because ostensibly they can argue that ‘every effort was being made to effect the Settlements’ as evidenced by the screens; or whether each time that this happens, the process is sabotaged by the Syndicate: probably both of the above.

(4): Warrants for arrests of Trustees and bankers known to have been frustrating the Settlements in various countries around the world have also been issued and will, we understand, be in the process of being implemented coincident with the appearance of this report.

• ARREST INFORMATION UPDATE :7:00PM UK 7TH NOVEMBER:
The five Trustees or Principals ‘working for’ the Bush-Clinton Syndicate who absented themselves when ordered again yesterday to show up at banks for the hijacked Settlements payout process, were ‘located’ (as it was stated to us) last night; but, in a typical dialectical sabotage gesture, the other seven apparently absented themselves. We don’t know what has happened since, except that we do know that the outstanding arrest warrants MANDATE automatic execution.

We also understand that they provide for the targets to be picked up and detained; and judging by certain indications, we believe that one or more senior arrests may be imminent if the Settlements are sabotaged further today. The presence in Washington, DC, of very senior Chinese officials who are conveying the necessary message that the agreements must be implemented if a catastrophe is to be avoided, is reportedly having an effect [see foot of this report]: not least because the G-20
countries gathering for their meeting in St. Andrews, Scotland, are waiting to hear the outcome so that they can instruct their Governments in the event of further last-ditch intransigence by Merkel and the Bush-Clinton Box Gang of World Class criminals who have at last been cornered.

(5): The Group of Twenty Meeting at St Andrews, Scotland, which takes place this weekend, will be told, obviously, that the crisis has not been resolved and that the sabotage operations continue.
[Note: This was the position when this report was being prepared in the middle of the night: but see the insert above, and the note at the foot of this report, reflecting new developments].

It was thought that ‘President’ Obama could not attend the meeting – not because he would be arrested, which would not happen as he is (nominally) Head of State – but because he has been unable to deliver on any of his undertakings, since his instructions have been and continue to be sabotaged by the appointed officials in the White House and his Cabinet who were largely imposed upon him by the corrupt controlling Intelligence Power.

The names of these US operatives whose behaviour and blocking tactics means they cannot be distinguished from terrorists, are well known: Rahm Emanuel, Leon Panetta, Timothy Geithner, Mrs Hillary Rodomski Clinton, former President Clinton, Adolf Schickelbusch Sr., George Shrubelbusch Jr., Richard B. MK-ULTRA Cheney, Lawrence Summers, Dr Henry Kissinger and Dr Ben Bernanke: and of course Barack Obama himself, who is responsible for the proper conduct of his Government colleagues and has revealed himself to be unable or unwilling to control the nests of vipers with which he is surrounded, and who may therefore be the ‘fall-guy’ as was probably always intended.

(6): Chancellor Frau Merkel, Bush’s agent, could, however, be arrested in Scotland, if she turns up, as she is not Germany’s Head of State. The warrant for her arrest issued by the World Court stands.

(7): ‘President’ Barack Obama faces a deadline which is believed to expire on Veterans’ Day – 11th November – which ‘just happens’ to be the date when the Bosch (Germans) stood still at the end of the First World War (Armistice Day).

• November is historically the month when revolutions break out. This deadline arises from:

(8): The Chinese LIEN on the US Treasury that apparently takes effect if ‘President’ Obama has not procured the Settlements by that date. It would be logical that this lien would also cover the stolen loan funds belonging to the British Monarchical Power. The lien is predicated upon the following facts (dealing with the Chinese dimension alone here):

• The Chinese parties made available on loan (terms unknown) 10,000 tonnes of gold they held at Kloten, Switzerland, by means of an exchange of certificates, for the purpose of backing the dollar and buttressing the Basel-II standards. Since China’s gold is (criminally) not being applied by the Americans as required and agreed, the Chinese authorities have a beneficial ownership right to this gold and are accordingly within their rights to exercise the powers they possess to the full.

• This means that the Chinese will have the power under World Court jurisdiction to remove the gold from US control and to close down the US banking system and the Federal Reserve.

• You may say that in doing so they will shoot themselves in Mao Tse-Tung’s foot: but the situation is so critical that, as previously advised, ANYTHING COULD HAPPEN NOW, and probably will.

• If Obama does not ensure completion of the necessary transactions by this deadline, he faces the prospect of having to be removed from office for incompetence and dereliction of duty, and for jeopardising the national security of the United States – notwithstanding that his instructions are evidently being frustrated and disregarded by the vipers in his entourage, headed by Mrs Hillary Jezebel Clinton, CIA wife of former President Clinton, who ‘works for’ Georg Busch Sr. In other words, either Obama releases, or he’s finished.

• Our information is that the Chinese parties do not believe that Mr Obama has the strength of character, knowledge, ability or authority to procure the necessary outcome.

• The hideous economic and financial warfare behind the scenes that we are reporting, and that is wracking the whole world due to the intransigence of these few Nazis and Zionazi operatives, is therefore about to be ratcheted up to unimaginable levels of tension – as Mr Obama appears to be unable or impotent to meet his obligations by the deadline, or at all.

(9): In this lawless situation, a scenario which triggered the Clinton-ordered horizontalization of an Arkansas newspaper reporter last year, has obvious relevance. The newspaper man in question knew about a plot for the Obama-Biden duo to be removed from power (in a context such as has evolved) and for Mrs Hillary Clinton to emerge as President of the United States instead – although the obstacle here is that the extremely dangerous Mrs Nancy Pelosi, Speaker of the House, would be first in line in such an eventuality. That woman’s head is full of evil ideas, and in addition she is known to be corrupt. There is no point in speculating beyond these considerations, at this stage.

THE SITUATION APPEARS TO BE COMPLETELY OUT OF CONTROL
As previously indicated, the situation seems now to be completely out of control, and very serious developments are anticipated if a grip is not taken of the situation immediately.

It remains to be seen how the G-20 countries will react to the sabotage arising from the destructive operations of the Box Gang Nazis, and what the implications and consequences of the violence at Fort Hood may be. But one thing is certain: whatever you read in the ‘mainstream’ press will have even less connection with reality than ever. It is just not up to speed on this crisis.

The ‘bottom line’ is that China reached an agreement with these US vipers and has predictably been double-crossed by them, as has the British Monarchical Power. The countries that have also been double-crossed are furious; while all who expected to be paid as a consequence of their links to George Bush Sr., have realised, thanks to our reporting, that since Adolf Shickelbusch is not going to be paid a penny, nor are they.

Hence, at that level, all concerned are tearing their hair out as their idolatrous expectations, on which they have gorged themselves for years, turn out to be as prospectively worthless as the derivatives ‘assets’ that they thought possessed real value. In other words, they are in the same boat as the 320,000 Ponzi victims who have been lied to and led a merry dance by unscrupulous and cruel manipulators of expectations, destroying marriages, lives and families in the process.

These people never understood what we have explained, and probably still don’t, or won’t understand, that their Fraudulent Finance carousel has imploded and cannot be reinstated.

THE FINANCIAL SYSTEM MAY COLLAPSE THANKS TO THE BOX GANG
They may therefore be content to watch as the dollar system is closed down and the whole world thrown into open-ended confusion leading to world war, the recall of stretched military forces from Afghanistan and Iraq, and a free-for-all such as the world has never seen before, accompanied by the collapse of all viable trading and financial arrangements and international relationships. This would represent the final destruction of the ‘globalism’ that provided cover for the corruption.

All this can happen much faster than anyone imagines, and the outcome will (not could) be ugly.

Regional arrangements such as the corrupt European Union Collective will be torn apart under the pressures released by the pathetic failure of the complacent American authorities to get a grip of the situation and to ‘take down’ the small cabal of evil operatives who alone are responsible for this looming catastrophe. It’s as though America has a death wish that it longs to see fulfilled.

• Should matters be resolved at this very last minute, that will reflect the overwhelming realities being drummed into the bovine skullboxes of the Nazis and Zionazis in Washington inter alia by the Chinese visitors to Washington ‘as we speak’, and not a little, we suggest, by the exposure of these abominable criminal operations almost in ‘real time’, dare we say it, by this service.

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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NON-U.S. INTERNET SECURITY SOLUTION CD AVAILABLE: FAR BETTER THAN NORTON ETC
It has now been established that the National Security Agency (NSA) works with/controls Microsoft, Norton, McAfee, and others, in pursuit of the Pentagon’s vast BIG BROTHER objective, directed from the ‘highest’ levels (not the levels usually referred to) which seek to have every computer in the world talk direct to the Pentagon or to NSA’s master computers.

This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

We use a proprietary FOREIGN Internet Security program which devours every PC Trojan, worm, scam, porn attack and virus that the National Security Agency (NSA) throws at us. We are offering this program (CD) to our clients and friends, at a premium. The program comes with our very strong recommendation, but at the same time, if you buy from us, you will be helping us finance ongoing exposures of the DVD’s World Revolution and the financial corruption that has been financing it.

The familiar US proprietary Internet Security programs are by-products of US counterintelligence, and are intended NOT to solve your Internet security problems, but to spy on you and to report what you write about, to centralised US electronic facilities set up for the purpose. You can now BREAK FREE from this syndrome while at the same time helping us to MAINTAIN THE VERY HEAVY PRESSURE UPON THE CRIMINALISTS WE HAVE BEEN EXPOSING, by ordering this highest quality FOREIGN (i.e., non-US) INTERNET SECURITY SOLUTION that we have started advertising on this website. This offer has been developed in response to attacks we have suffered from the NSA nerds who appear to have a collective mental age of about five years, judging by their output.

• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

The premium contains a donation for our exposure work and also covers our recommendation based on the Editor’s own experience that this INTERNET SECURITY SOLUTION will make your Internet life much easier. The program has an invaluable ‘Preview before downloading’ feature.

*VISTA: Virtual Instant Surveillance Tactical Application.

BERNANKE PERSONALLY BLOCKING THE U.S. PAYOUTS

NEW YORK FED’S $500 TRILLION DERIVATIVES ‘BLACK HOLE’ IS EXPOSED

Sunday 6 September 2009 20:00

• ALL OFF-BALANCE SHEET FUNDS ARE ‘FROZEN’

• BERNANKE AND GEITHNER HAVE BEEN TAKING ORDERS FROM BUSH SR.

• UPDATE, 11 SEPTEMBER 2009:
IT HAS BEEN INACCURATELY ASSERTED ON ANOTHER WEBSITE THAT THE EDITOR PAID FOR WANTA’S RELEASE FROM JAIL. THIS IS AN OLD C.I.A. LIE WHICH HAS BEEN PROMULGATED FOR TWO YEARS OR MORE. The Editor did NOT procure Mr Wanta’s release from jail which of course is impossible. The Editor loaned Leo/Lee Wanta $35,000 for two years on an arms’-length basis at 7% compound per annum, effective 10th June 2005 and repayable on 11th June 2007.

• He did not repay the Editor’s $35,000. He has STOLEN THE EDITOR’S LOAN FUNDS.

The purpose of the loan was to settle Court ‘Restitution’ plus fees in respect mainly of State Tax of $14,129 plus interest that Wanta had already paid twice, in May and June 1992 (we hold copies of the relevant transaction documents). The Editor’s private loan funds paid this tax bill for the THIRD time. Full details of this scandal were exposed in our final report on that subject, dated 6th August 2007 [see Archive]. But that is NOT the main point of this insert, necessitated by the repetition of this old C.I.A. LIE, exploiting the timing of the loan. The LIE masks a colossal hornets’ nest of evil.

The main point is as follows. The subtle C.I.A.-originated LIE that the Editor paid for Wanta’s release from PRISON presupposes (deceitfully) that Wanta was released in 2005 WHICH IS NOT TRUE. On the contrary, Wanta was released from jail eight or ten days after 9/11 (on 19th or 21st September 2001). But by reiterating that the Editor’s funds procured Wanta’s release from JAIL, the FALSE impression is given that Wanta emerged from U.S. prison FOUR YEARS after 9/11: A FABRICATION.

Wanta was collected from jail shortly after 9/11 by Gerald Salchert, resident in the United States, of Austrian extraction, and taken to the home of a relative in Wisconsin.

WHY would the C.I.A. promulgate this LIE (and we will explain later WHO started this LIE)? In order to answer that question you need to be aware of the real reason Wanta was held in jail during the run-up to 9/11. The reason is that, since Wanta had been scammed and badly treated (which maybe he deserved: but that’s a separate point), the C.I.A. had concerns that he might divulge the 9/11 plans AHEAD OF THE ABOMINATION. So they held him incarcerated until afterwards.

• What does this tell you? Work it out for yourself! Mr Wanta KNEW ABOUT 9/11 IN ADVANCE of the event, and they had to make sure that he didn’t spill the beans because of his dissatisfaction at the way he had been treated. SO THEY HAVE EXPLOITED THE DATE OF THE EDITOR’S LOAN PAYMENT, WHICH OBTAINED WANTA’S EXIT FROM PROBATION (gaining him five years and two weeks, to be precise, as his scheduled probation end-date had been 28th November 2010), TO COVER UP THE FACT, EXPOSED BY THIS LIE, THAT THE C.I.A. AND THE U.S. GOVERNMENT KNEW ALL ABOUT 9/11 BEFORE IT HAPPENED. Because as Leo/Lee Wanta, who worked for the Government and the Bush Crime Syndicate, knew about 9/ 11 BEFORE the event, SO DID THE U.S. GOVERNMENT and the C.I.A. If you think this is DYNAMITE, you are 100% ACCURATE.

• OUR CAMPAIGN AGAINST THE STEALING OF OUR PUBLISHED WORKS AND BREACH OF
COPYRIGHT, AN OPERATION ORCHESTRATED BY THE C.I.A. TO ENTICE US INTO LITIGATION:

• On the morning of Monday 7th September, one of our associates walked into the offices of an operation in Utrecht, Netherlands, that had been engaged in the illegal stealing of the Editor’s work, published by Edward Harle Limited, entitled The New Underworld Order, which can ONLY be obtained legally direct from our London and New York offices and via this website [books section].

• Well over 10,000 copies of our book had been illegally stolen (downloaded) from mininova.com. The image of the book displayed on that website was cropped so that the ISBN ref: 1-899798-05-6 had been cut away, while the copyright page [page iv] was MISSING, indicating with crystal clarity that all concerned were fully aware that this represented a grievous copyright breach.

• Furthermore, the download text (of which we retain a complete paper copy and a pdf) was ADULTERATED. Confronted by our associate with a copy of the book, showing the cover and the copyright page, the Dutch perpetrators removed our book from their website immediately, thereby acknowledging the theft. The site in question deceitfully boasts that no material on their platform is copyright material, which is a brazen lie. We have other measures in store for this operation.

• Our associate rang the bell, knocked at the door, and then tapped at the window, in office hours. Personnel refused to let him into the building, but instead exited the front door and spoke to him in the street. Our associate showed our book to the two people who had emerged from the building, indicating that the front cover as shown on their website excluded the ISBN reference, and then opened the book at the copyright page. The personnel behaved in a somewhat shifty and rather insolent manner, accepted that they were in grievous breach of copyright, then retreated into the building, and proceeded to remove the adulterated version of The New Underworld Order from their website. By discourteously not allowing our associate to enter the building, they inadertently confirmed that the operation is an intelligence front. Very shabby, second rate tradecraft.

• A similar crooked entity in the Geneva area in Switzerland has stolen nearly 1,300 copies of our work, The Perestroika Deception, by the Soviet defector, Anatoliy Golitsyn, edited by Christopher Story, in which we hold world rights. The copyright belongs to Anatoliy Golitsyn. There will be repercussions from these brazen revolutionary thefts of the intellectual property of others.

• This places perpetratrors of these wanton thefts, which are designed to put smaller publishers out of business so that only the doctored, ‘politically correct’ ‘line’ on any sensitive subject stays in the public domain, on notice that we will take UNCONVENTIONAL MEASURES to close down this impertinent menace so far as we are concerned, and that we will make sure that perpetrators are shamed and named by all means at our disposal. As for the US Intelligence Power, you are also placed on notice that we will expose your dirty tricks and your snide attempts to inveigle us into financially destructive litigation. Your dirty tricks stink in the nostrils of the whole world.

MISPRISION OF FELONY: U.S. CODE, TITLE 18, PART 1, CHAPTER 1, SECTION 4:
‘Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some Judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both’.

CALLING EVIL GOOD, AND GOOD EVIL
‘Woe unto them that call evil good, and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!’

‘Woe unto them that are wise in their own eyes, and prudent in their own sight!’
Isaiah, Chapter 5, verses 20-21.

‘WE’LL KNOW OUR DISINFORMATION PROGRAM IS COMPLETE WHEN EVERYTHING THE AMERICAN PUBLIC BELIEVES IS FALSE’: William Casey, Director of Central Intelligence: An observation by the late Director at his first staff meeting in 1981. This observation reveals the mentality of cynicism which infests the US Federal control structures, and the reality that these structures regard the American people with total contempt. This attitude is the opposite to the noble concept of service to the American people which ought to inspire holders of public office, and therefore represents the epitome of decadence.

The evil spirit directing William Casey got the better of him when he committed suicide in hospital some years later, ostensibly to ‘protect the President’. The fantastic verbal fantasies perpetrated on certain US websites that are operating on the basis of Mr Casey’s principle, enunciated above, should therefore be handled with extreme care. Casey warned you!

HOW TO HANDLE OUR KNOWLEDGE OF THESE EVIL PEOPLE
‘Fret not thyself because of evil-doers, neither be thou envious against the workers of iniquity.
For they shall soon be cut down like the grass, and wither as the green herb’.
Psalm 37, verses 1 and 2.

‘The wicked plotteth against the just, and gnasheth upon him with his teeth. The Lord shall laugh at him: for he seeth that his day is coming. The wicked have drawn out the sword, and have bent their bow, to cast down the poor and needy, and to slay such as be of upright conversation. Their sword shall enter into their own heart, and their bows shall be broken’. Psalm 27, verses 12-15.

‘I have seen the wicked in great power, and spreading himself like a green bay tree. Yet he passed away, and lo, he was not; yea, I sought him, but he could not be found’. Psalm 37, verses 35-36.

‘The transgressors shall be destroyed together; the end of the wicked shall be cut off. But the salvation of the righteous is of the Lord; he is their strength in the time of trouble. And the Lord shall help them, and deliver them; he shall deliver them from the wicked, and save them, because they trust in Him’. Psalm 37, verses 38-40.

JAMES THE BROTHER OF JESUS ON FINANCIAL FRAUD:
‘Go to now, ye rich men, weep and howl for your miseries that shall come upon you.

Your riches are corrupted, and your garments are motheaten.

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.

Behold, the hire of the labourers who have reaped down your fields, which is of you kept back by FRAUD, crieth; and the cries of them which have reaped are entered into the ears of the Lord….

Ye have lived in pleasure on the earth, and been wanton; ye have nourished your hearts, as in a day of slaughter. Ye have condemned and killed the just; and he doth not resist you’.
James, Chapter 5, verses 1-6.

• TWO IMPORTANT CONSEQUENCES FROM THE LATEST SABOTAGE

• BUSH SR. ET AL SUDDENLY REALISED DERIVATIVES ARE WORTH ZILCH

• GEORGE BUSH SR. NEEDED TO BE REMOVED AT ONCE

• 285 PROMINENT PEOPLE TO BE ARRESTED ‘BEFORE CHRISTMAS’

• SOME POSSIBLY RELATED SEPTEMBER DATES

• CHINESE MOVE TO IMMOBILISE THE DERIVATIVES SECTOR

• MEANWHILE GEITHNER CARRIES ON PROMOTING DERIVATIVES

• THE EUROPEAN COMMISSION IS A CRIMINAL ENTERPRISE

• FINANCIAL TIMES MINDLESSLY SUPPORTS GEITHNER’S DOOMED CAMPAIGN

• GEITHNER’S DECEITFUL DEMARCHE TO THE G-20

• TREASURY SECRETARY IS WHISTLING IN THE WIND

• SWISS PRIVATE BANK TELLS CLIENTS TO SELL U.S. ASSETS

• CIA NEVER MAKES MISTAKES, SO HOW CAN IT LEARN FROM THEM?

• PRESIDENTS 42 AND 43 FLY TO TORONTO AFTER THE FUNERAL

• THE REASON BUSH SR. DIDN’T APPEAR IN THE BASILICA

• NO SPLIT: JUST A NEW CORRUPTION ‘OPPORTUNITY’

• SCANDALOUS SITUATION AT THE WORLD COURT

• CANADA SUDDENLY POSTS US$-DENOMINATED BOND SALE

• UNITED ARAB EMIRATES TO KINDLY OBLIGE, AS WELL

• NEW YORK FED HAS A $500 TRILLION ‘BLACK HOLE’

• MORE BELATED CHINESE MEASURES AGAINST FRAUDULENT FINANCE

• ORIGINAL THEFT OF DELMARVA TIMBER TRUST ASSETS

• DESPITE THIS CRISIS, BERNANKE WAS BLOCKING THE PAYOUTS

• CIA-PRESIDENT OBAMA IN SECRET CAHOOTS WITH BERNANKE

• POOR BERNANKE A VICTIM OF IDENTITY FRAUD

• FED IS (WAS) NO-GO AREA FOR U.S. LAW ENFORCEMENT CADRES

• BARNEY FRANK BELATEDLY CALLS FOR THE FED TO BE AUDITED

•‘EXTRAORDINARY RENDITION’ OF TOP CRIMINALS REQUIRED

• LIBYAN CONTROVERSY IS A U.S. FALSE FLAG OPERATION

• DAVID RIFKIN, A U.S. SCUMBAG, LECTURES US ON THE BBC

• THE CHENEY OIL OPERATION IN LIBYA

• BRITISH SIMPLY TOOK A LEAF OUT OF THE U.S. BOOK

• CHENEY TRYING TO DESTROY U.S.-UK COOPERATION

• THE UNANSWERED AFGHANISTAN QUESTION JUST GOT NASTIER

• INSPIRING EXAMPLE SET BY THE MAYOR OF DONCASTER

• BRITISH MINISTRY OF DEFENCE IS BETRAYING THE PEOPLE

• A GLIMPSE OF REVOLUTIONARY REALITY IN THE BURMA CONTEXT

• BUSH PUSHED WAY BEYOND CO-CONSPIRATORS’ TOLERANCE

• SATAN WAS NOT CALLED THE SERPENT FOR NOTHING

• THE SERPENT IS A DISCIPLE OF LENIN [or rather, vice versa]

• TAKEN BY SURPRISE, THE SERPENT COULDN’T ORGANISE ITS OWN DEFENCE

• NO ‘GUTS’ ARE NEEDED! JUST DO IT!!

• WHEN WE STAND UP TO THEM, THEY ‘FALL BACK TO THE GROUND’

• INTERNATIONAL CURRENCY REVIEW: Volume 34, Numbers 3 & 4 was published on 14th August and was being mailed worldwide on Monday 17th August 2009. It contains our devastating blow-by-blow reporting of astonishing behind-the-scenes events tearing the lawless intergovernmental environment apart, where anything goes, assets are ‘diverted’, and no-one is responsible.

However, as a specific consequence of these exposures, the net is decisively closing in on ALL criminalist financial operators, both within notorious official structures and in the international financial community, as is becoming clearer by the day. This 592-page report on what has been happening behind the scenes is now being lodged in places ‘where it matters’ around the world, which means that it is impossible for a veil to be drawn over this financial criminality, EVER.

• BOOKS: Edward Harle Limited has so far published FIVE intelligence titles: The Perestroika Deception, by Anatoliy Golitsyn; Red Cocaine, by Dr Joseph D. Douglass, Jr.; The European Union Collective, by Christopher Story; The New Underworld Order, by Christopher Story; and The Red Terror in Russia, by Sergei Melgounov. All titles are permanently in stock. We sell books DIRECT.

• Globalist hegemony ideology and practice are comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website. Also, the Editor’s study entitled The European Union Collective, which proves that the EU is a long-range strategic entrapment operation to reduce European countries to satrap status within a German empire using economic strategy for relentless economic warfare purposes, can be bought here.

• Please Make a Donation, if you feel able to do so, to help finance Christopher Story‘s ongoing global financial corruption investigations. Your assistance will be very sincerely appreciated and will make a real difference, hastening the OVERDUE resolution of the worst financial corruption and linked financial fallout in world history. Just press Make a Donation, which is live, and it takes you straight to our ultra-safe ordering system, which accepts Visa and MasterCard. Or press the live Donate link at the top right-hand corner of this page. See also the ADVERTISEMENT below.

• The Editor’s $35,000 Wanta bail-out LOAN money plus interest has been stolen. This has not been denied for all the time that this true statement has been posted at this location! Wunderbar!

• See the second white panel for details of our latest distributed intelligence publications.

• ADVERTISEMENT: Details of the INTERNET SECURITY SOLUTION software offered by this service in conjunction with a donation, are appended at the foot of this report, below the legal data. See also our catalogue by clicking on World Reports Limited and scrolling down to the bottom.

• COPYRIGHT NOTICE REFERENCING THE STEALING OF OUR COPYRIGHTED BOOKS BY U.S. COPYRIGHT PIRATES APPEARS AT FOOT OF THIS REPORT ABOVE THE LEGAL DEFINITIONS.

By Christopher Story FRSA, Editor and Publisher, International Currency Review, World Reports Limited, London and New York. For earlier reports, press the ARCHIVE. Order your intelligence subscriptions and our ‘politically incorrect’ intelligence books online from this website.

NEW REPORT AND NOTES START HERE:

• NOTE:
This report covers developments and intelligence sifted up to a cut-off point of Thursday evening UK time, 3rd September 2009. THE U.S.-RELATED SEGMENTS ARE OUT OF DATE. We regret that, due to ‘the unfolding of events’ [Lenin: see Note (8) below] we cannot update beyond the cut-off time and neither can we comment any further for a number of days ahead. The narrative should be considered solely as ‘informed background’. The segment originally prepared for posting on 2nd September is clearly indicated. In some contexts, the tenses employed have not been altered.

• LEO WANTA: For the past several months or so, Wanta has been residing in a ‘safe house’ and has not continued in the residence of a family member. This confirmed development throws our earlier observations of the legal bind he was in due to his presence in Wisconsin, up in the air: and one reason for the move may precisely have been to address those issues.

Additionally, a number of wholly inconsequential ‘postings’ mentioning or attributed to Wanta which have appeared on one or more other websites, have represented elements of a ruse to throw sand in the faces of ‘the curious’. Their purpose will have been to provide a modicum of ‘continuity’ and to throw ‘the curious’ off the scent.

It remains a fact that the Editor’s $35,000 loan plus interest has been stolen. A letter from Leo Wanta indicating that he could not pay for the time being, due to his circumstances, would have sufficed to alleviate matters in the interim, but this was not forthcoming.

It would be no excuse at this late stage to say that he could not place such a matter in writing, since we hold a large library of undertakings that he has placed in writing, together with detailed faxed instructions to the Editor of this service. If he has been taken to a ‘safe house’ to hide him from the legal consequences of his theft(s), that could be construed as a provocative slap in the face of the Editor. But of course there are other, more pressing, reasons, no doubt.

The overall intelligence community lesson to be learned from this is that if intelligence operatives are going to interface with real investigative journalists, they had better not engage in tradecraft deception, or the likelihood will be that roadside timebombs will blow up in their faces.

• Put more succinctly: DO NOT PRESUME YOU CAN HOODWINK ALL THE PRESS ALL OF THE TIME. And surely, it should be obvious, now that Herr Bush Sr. is discredited, that the ‘bait and switch’ and ‘double-cross’ deception techniques, extensively publicised here, when deployed against journalists, are thoroughly discredited and past their sell-by date, as well.

• MEMORANDUM TO THOSE WHO TRIED TO DISCREDIT THE EDITOR VIA GORDON THOMAS, ‘THE VISITOR’ AND DASTYCH: These sordid techniques cannot be relied upon to deliver the anticipated results, since not everybody responds in textbook fashion to threats. At the latest count, the Editor had received 28 threats.

• A history of the deceptions perpetrated against the Editor is pending.

ALL OFF-BALANCE SHEET FUNDS ARE ‘FROZEN’
Following the ‘lockdown’ of the $14+ trillion of REAL on-the-books funds, including the previously referenced $6.2 trillion of LOAN money, on 10-12 September 2008, all off-balance sheet funds, the source of which cannot be identified, have been totally frozen and cannot be brought back onto the balance sheet. The CEO of Alchemy Partners, Jon Moulton, has now ‘jumped’ because of this.

Once the overdue Settlement payments in the United States have been unblocked by Dr Ben Bernanke, the Chairman of the Federal Reserve, and Timothy Geithner, the US Treasury Secretary, both the US Treasury and the Federal Reserve will cease to exist in the format to which they and the world are accustomed, as they will necessarily be Basel-II (and Basel-III) compliant, which will mean that the most important question in the world – ‘What is the source of funds?’ – will govern ALL FINANCIAL TRANSACTIONS. The dual system, with separate sets of books, will collapse.

The crisis has therefore reflected the ruthless determination of a handful of criminal US finance operatives, headed of late by Bernanke and Geithner, taking orders from Bush Sr., to defy the wishes of the international community by blocking the US dimension of the Settlement payouts in order to sustain this double-minded, corrupt system of ‘two sets of books’ that is collapsing.

BERNANKE AND GEITHNER WERE TAKING ORDERS FROM BUSH SR.
According to our sources, these two US criminal finance operatives were still interfering with the payments during the period of 48 hours when we held back a report prepared for posting effective 2nd September. It has been suggested by some that we made a mistake by announcing this fact, as our brief statement signifying the postponement was initially claimed to have been exploited by the criminal finance cadres to obfuscate the situation temporarily, to what they considered to be their advantage. On the other hand, we also received support for this action, as is typified by the rather flattering email reproduced in Note (1) and posted on another website.

• In any case, the final outcome shows that our judgment was in fact correct.

TWO IMPORTANT CONSEQUENCES OF THE LAST SABOTAGE
Nothing of significance had been lost because not only was it obvious from other evidence that the payout last week was about to be sabotaged anyway, but this episode did achieve the following outcomes, so we are informed:

• It decisively flushed out George H. W. D. V. D. Bush Sr. as issuing demands, instructions and physical threats to unnamed personnel, requiring them to sustain the sabotage operation.

Our information is that these threats were of a PHYSICAL nature – a quite interesting development, since this revealed that Bush Sr. HAD NO FINANCIAL LEVERAGE ANY MORE (for bribes), which we know to be the case. So he was forced to resort to barefaced murder threats instead.

• We are informed that certain parties have FINALLY, at long last, UNDERSTOOD, that one cannot reach any agreements or understandings AT ALL with serpents [see text at the foot of this report]. Quite astonishingly, we were told on 4th September that certain US personnel who ought to have found this out years ago, were at last obliged to acknowledge that one cannot negotiate with these people and that they need to be removed from the scene.

Hard though it may be for rational observers to comprehend, what we and others have recognised almost since the beginning, has ONLY NOW become apparent to the US cadres we are obliquely referring to here – as a DIRECT consequence of the sabotage operation perpetuated by Bernanke and Geithner and ordered by Bush Sr., which messed up the Settlements payments that were ready to go as of 1:00pm Eastern Daylight Time On Wednesday 2nd September 2009.

BUSH SR. ET AL SUDDENLY REALISED THE DERIVATIVES ARE WORTH ZILCH
Apparently this development was attributable, sources say, to the fact that certain fools stupidly offered Bush Sr. 2% (alternatively stated to be 2.5%) of some unquantified derivatives aggregate, which the serpent ‘turned down’. What all concerned appear not to have understood is that 2.0% or 2.5% of zero equals zero. Therefore, farcically, Bush Sr. actually turned down nothing. It was at this point that Bush Sr. appears to have realised that the Fraudulent Finance derivatives ‘assets’ are immobilised and de facto locked out of the on-the-books financial economy. Apparently when that happened, scales fell off certain previously blinded cadres’ eyes, and, at half past midnight, they realised that ‘one cannot reach agreement with serpents’. Quite why they couldn’t see that obvious fact when you and this Editor saw it years ago, is not explained. (Presumably it reflects the fact that some were corrupted and hoping to cut deals out of the funny money for themselves).

In this connection, certain sources advised us that, notwithstanding the above, ‘Bush Sr. is out of the picture’ – which is true; and yet, he was reported to us last week to have been issuing physical threats of liquidation, intimidating officials and bankers, and influencing the deception operations presided over by Bernanke and Geithner, whose ever more eccentric public statements continued to purport to assume that the off-balance sheet world could be restored to its former fraudulent glory – the current focus being on removing the infuriating British from all positions of influence and power as quickly as possible, and packing the international forums that matter with corrupt Third World operatives who can be relied upon to do what the US criminal financiers require.

[This plot is about to falter, too].

GEORGE BUSH SR. NEEDED TO BE REMOVED AT ONCE
Given this background, we were specifically asked last week to state that George Bush Sr. needed to be removed from the scene completely and IMMEDIATELY, not least given that his vituperative threats of murder which were reportedly being sprayed all over the place, were liable to lead to his arrest for uttering threats over the phone, which is a Federal offence (2) .

• Moreover we felt that the British Monarchical Power had every right, and should now proceed, to take the necessary drastic action against George H. W. D. V. D. Bush Sr. and the other American and UK financial terrorists, without further ado.

Hitherto no-one in the United States appears to have had the guts to do this. But this serpent is FINISHED, except that he appeared as late as last week STILL to have been able to interfere with the Settlements. It was being pointed out to us that Americans operate 800 bases around the world financed by funny money, and flaunt themselves as the big, most powerful military machine on the block: yet their cowardice HAS DISGUSTED the whole world because they appear to be so corrupt and compromised that they lack the guts to stamp on the head of this serpent.

That the serpent’s head has to be crushed is universally recognised AND IT MUST HAPPEN NOW, with no further feeble, pathetic prevarication indicative of inner rottenness and weakness – a state of affairs that is simply reinforcing international perceptions, where it matters, of the United States as an internally depraved pariah state.

Indeed we were advised by sources with European connections that this latest sabotage of the Settlements was likely to trigger an operation ‘to “hit” the Obama/Bush cartel if we aren’t paid tomorrow’ [email from an informed source, at 6:01pm UK time on Thursday 3rd September] (3) .

285 PROMINENT FIGURES TO BE ARRESTED
Another usually well-informed source (US) advised us on 4th September that ‘all 285 people’ who have been engaged in this criminal finance sabotage to block the payouts and associated matters concerning immense corruption ‘WILL BE ARRESTED BY CHRISTMAS’.

• We think this will occur rather sooner than that.

SOME DATES THOUGHT EARLIER TO BE SIGNIFICANT
It was also reported to us that the threats spewed out by the serpent were accompanied by an assertion, known to be false, that the payouts were to be blocked ‘until 15th September’. This of course was equivalent to saying ‘until the end of the solar system’, except for the following two important passing considerations:

• As reported in The Wall Street Journal on 3rd September (4) : ‘On September 16 2009, China will put into effect an agreement governing how their banks trade domestic derivative products among themselves. But as a condition of their dealing with foreign banks, China’s five largest commercial banks are seeking to impose tough credit demands that will be hard to comply with, according to certain lawyers and people at several foreign banks’.

CHINESE MOVE TO IMMOBILISE DERIVATIVES OPERATIONS
The Chinese banks concerned are Bank of China Ltd, Industrial & Commercial Bank of China Ltd., China Construction Bank, Agricultural Bank of China Co., and Bank of Communications. The Wall Street Journal report elaborated that these Chinese banks ‘dominate the domestic money markets, supplying as much as 80% of market liquidity. Not being able to deal with them would punch a big hole in the operations of foreign banks in China’.

‘Under the new régime, banks will be allowed to trade [financially – Ed.] only with counterparties with whom they have signed a Master Agreement. That agreement will initially cover existing trading in interest-rate swaps, bond forwards, foreign exchange swaps and forwards, and cross-currency swaps. But the five big banks are insisting that foreign banks, and in some cases their major shareholders, guarantee the credit of their China units before they sign any agreement, according to foreign bankers with direct knowledge of the situation’.

‘Under existing arrangements, foreign banks can trade derivatives with the five big [Chinese] banks without providing credit guarantees’.

In other words, financial trading with the big five Chinese banks will, effective 16th September 2009, be restricted to THE FIRST LEVEL ONLY, cutting out a vast swathe of subsequent levels of derivative trades – which necessary reform will VIRTUALLY TERMINATE the derivatives operations of foreign banks with China. Unless the big Chinese banks have signed a Master Agreement with a foreign bank counterparty, they will not be permitted to engage in derivatives transactions AT ALL: hence the bleating by ‘lawyers and people at several foreign banks’ that their business is about to be decimated, destroyed or altered beyond recognition.

While the foregoing information on the Chinese trading stipulation is of exceptional significance, it will also of course have been noted that 16th September is one day later than the false ‘deadline’ fed by the criminal finance Godfather, George H. W. D. V. D. Bush Sr. During the week there were further ‘end of the solar system’ noises, too, suggesting, incorrectly, that the end of the current US fiscal year (30 September) would be the ‘next’ illicit ‘deadline’. Another significant fixture in this context was the late-September meeting of the Group of 20 scheduled for Pittsburgh, preparatory work for which was being transacted in London in early September.

Consistently with the correct Chinese attitude that ‘enough is enough already’, Associated Press reported on 3rd September that China is buying the first $50 billion of the International Monetary Fund’s initial Special Drawing Right (SDR) bond sale. Although this announcement was presented for public consumption in the usual knee-jerk context, promulgated in the IMF’s own statement [2nd September 2009] that this purchase ‘will boost the Fund’s capacity to help its membership weather the global financial crisis, and facilitate early recovery of the global economy’, the Chinese authorities paid for the purchase of $50 billion worth of SDRs with 341.2 billion yuan but in fact, by means of a complex foreign exchange configuration, disguising the fact that they were dumping dollars in order not to destabilise the market – a move which, as Zhang Bin, an international finance specialist at the Chinese Academy of Social Sciences, said will ‘help to raise China ’s IMF status’.

MEANWHILE GEITHNER CARRIED ON WEIRDLY PROMOTING DERIVATIVES
While the Chinese have made it crystal clear that the Fraudulent Finance derivatives party is OVER, the US Treasury Secretary, who presided over the accumulation of the derivatives BLACK HOLE within the Federal Reserve Bank of New York of which he was President amounting to $500 trillion [see below], is attempting to bamboozle the Group of Twenty leaders into taking steps to ‘control’ the derivatives markets – the unspoken purpose of this deception being to ‘take it for granted’ that these Fraudulent Finance operations are to continue, which is not going to be the case.

Specifically, The Wall Street Journal reported on 4th September 2009 that ‘on Thursday, Treasury Secretary Timothy Geithner sent a letter to the G-20 leaders [meeting in preparatory session in London – Ed.], arguing that international agreement on higher bank-capital rules was necessary to protect the global financial system [unspoken: which his own terrorist finance stewardship at the New York Fed has so grievously corrupted – Ed.], and he called for a deal by the end of 2010’.

• FACT: It is STANDARD revolutionary procedure to keep kicking the timeframe out into the future. Every conference is concerned with setting the agenda for the subsequent conference. That way, the ‘Useful Idiocracy’ is bamboozled into believing that ‘progress’ (however defined) is being made towards whatever objective may be flavour of the month. Meanwhile the serpentine manipulators obfuscate the situation while always gaining more time.

•FACT: The US Treasury Secretary’s stance is deceitful. On the one hand, he and Bernanke were sabotaging and blocking the releases as stated above, on the orders of the world’s most sought-after financial criminal; while on the other hand, he is masquerading before the G-20 as a valiant defender of financial law and order. According to what we have been informed, this two-faced (dialectical, double-minded) behaviour isn’t being well received.

On the contrary, M. Jean-Claude Trichet, President of the European Central Bank, in announcing that ‘the ECB has an exit strategy from its non-standard measures in place’ (5) has, of late, most interestingly, aligned his institution effectively with the British Monarchical Power (contrary to the underlying purposes of the European Union Collective, which is to destroy all sources of British power permanently). The reason for this volte face is that the potential exists within this financial maelstrom for the European financial economy to be completely destroyed, since the collective currency, the Euro, has no backing – and is supported by no sovereign government. The European Union is not a sovereign entity: it is in fact an illusory construct which operates specifically, as the Editor reported and explained in his book The European Union Collective: Enemy of its Member States’, to usurp and crush the sovereignty of its weakened constituent satrap membership.

THE EUROPEAN COMMISSION IS A CRIMINAL ENTERPRISE
Moreover the accounts of the European Commission have not been signed off for the past 14 years running by the EU’s own Court of Auditors, because they are fraudulent.

• Any auditor signing the European Commission’s accounts would lay himself open to prosecution for aiding and abetting false accounting.

Since this is the case, the British Government, for instance, is complicit in financial fraud because it channels UK taxpayers’ funds into the accounts of the European Commission which, given that its accounts are fraudulent and have been demonstrated to be fraudulent for the past 14 years, is a criminal enterprise. According to the Serious Fraud Office in London, it is illegal to pay taxpayers’ money into the hands of a criminal enterprise.

As previously recommended here, all British taxpayers’ VAT funding should therefore be diverted forthwith into special accounts at the British Treasury, where they can accumulate until such time as the past 14 years’ EC accounts have been rectified, restitution has been made for all the funds that have been misdirected and stolen, all officials, past and present, involved in these criminal diversions and thefts have been indicted and put on trial, and the British Government pronounces itself to be satisfied that the necessary standards of financial probity have finally been achieved.

Since of course this will never happen, the British Government could redeploy the accrued Value Added Tax inflows for the purposes of plugging the colossal holes punched recklessly into them by the Brown Government, and reviving the British economy which has been extensively ‘enronised’ by the operations of Godfather Bush in collaboration with his corrupt and subsequently double-crossed pal, Tony Blair (who has his come-uppance).

In the meantime, by aiding and abetting the criminal diversion of British taxpayers’ VAT funds, the British Government condemns itself as a co-conspirator in defrauding British taxpayers, and is therefore entitled to be classed as a Criminal Government (and not for this reason alone: but this will ‘do’ for the time being).

All of which further complicates the standing of the corrupt European Commission itself, even as it is being bombarded by the banks as they lobby this criminal enterprise intensively to try to prevent the inevitable confirmation that the Fraudulent Finance bonanza is almost totally finished – which of course will consign certain of these institutions that specialise in speculation, to oblivion.

FINANCIAL TIMES MINDLESSLY SUPPORTS CAMPAIGN
This campaign is being supported by the industry’s house organ, The Financial Times, London, which reported on 2nd September that ‘top investment banks and other big users of derivatives markets’ [prior to mid-September 2008, but this is never mentioned because those concerned don’t want to acknowledge that the derivatives sector remains moribund – Ed.] ‘have warned European Union regulators that there are limits to the extent to which over-the-counter contracts can be standardised and cleared centrally’.

“Standardisation is not a clear prerequisite for delivering the systemic and operational risk improvements sought by regulators… initiatives that would seek to standardise the terms of all OTC contracts are counterproductive”.

• This was the message to the European Commission [EC] from three associations representing investment banks and securities firms: the International Swaps and Derivatives Association, the Securities Industry and Financial Markets Association, and the London Investment Banking Association, in a joint submission to the EC made public on 3rd September.

“Such initiatives can lead to ineffective hedging and incomplete transfer of risk. Leaving end-users with unwanted and unmanageable basis – that is, a mismatch between the specific risks they face and the non-specific, generic instruments that would be available in the market’ (6).

But The Financial Times’ idolatry of the dying Fraudulent Finance derivatives sector was sharply rebuffed on 4th September, when The Daily Telegraph’s Business section led with an article on the turmoil which has overtaken one of the most prominent of British private equity funds, Alchemy Partners, with the departure of its founder John Moulton – who, like the sharpest operators in this business, see the writing on the wall and are getting out IMMEDIATELY, so leaving the impending wreckage to others (who do not seem to realise what will be hitting them).

• Moulton’s exit will lead to a change in the ‘key man’ clause – entitling investors (leading banks, pension funds, university endowments and high net worth individuals) to pull out of their financial commitments to the fund (provided they can do so in practice, given the ‘unfolding of events’) because they will no longer benefit from Mr Moulton’s standing, prestige and expertise.

Amid expectations that Moulton’s departure would undermine Alchemy’s chances of raising fresh capital from investors, one insider was reported to have observed:

‘Alchemy certainly won’t be able to draw down any cash. In this market, people are desperate to get out of commitments and when they see an opportunity they grab it’ (7).

This devastating admission from a private equity fund ‘insider’ tells you, in one succinct sentence, that the obtuse behaviour of Geithner and Bernanke flies in the face of objective reality, common sense and the INEVITABLE ‘unfolding of events’ (8).

GEITHNER’S DECEITFUL DEMARCHE TO THE G-20
In parallel with this campaign, Mr Geithner surfaced in The Financial Times house organ on the 3rd September with a thinly-disguised plea for the colossal stash of illicit off-balance sheet funds to be plonked onto the books – thereby of course supposedly perpetuating the old Fraudulent Finance vortex to the satisfaction of George H. W. D. V. D. Bush Sr. In other words, this Geithner was STILL promoting the decapitated US Fraudulent Finance agenda – in the teeth of the opposition from the European Commission and the British Monarchical Power.

The essence of this deceitful operation fronted by Geithner was selling the G-20 the illusion that the US authorities are masters of regulation, when in fact the whole purpose of their rearguard campaign was to kill stone dead the necessary reform which cannot be stopped – namely that ALL transactions are to take place ON the books, consigning all the accumulated fraudulent derivatives accruals held off-balance sheet to the numeral ZERO.

• That of course will permanently defang the criminal finance syndicate, while impoverishing the cabal which had been holding the world to ransom (to the extent that it is not already impoverished by virtue of the freezing of its corrupt accounts).

The deceitful Geithner agenda was revealed in the first of five priorities which he spelt out in his article for the house organ of the City of London and beyond:

• Geithner: ‘First, capital requirements for banks simply must be higher across the board. Bringing more capital into the banking system is vital’.
• Translation: For ‘bringing more capital into the banking system’, read: Tipping off-balance sheet funds onto the books (while paying lip-service to Basel-II etc: see below).

• ‘Geithner: ‘Second, the regulatory framework also should put a greater emphasis on higher-quality forms of capital that best enable financial groups to absorb losses. Consistent with this principle, during good economic times, common equity should constitute a large majority of a bank’s Tier 1 capital’. • Translation: ‘Derivatives ‘assets’ are ‘a higher form of capital’.

• Geithner: ‘Third, capital requirements and accounting rules should be more forward-looking and should reduce the system’s pro-cyclicality. The capital régime should require banks to hold a larger buffer over their minimum capital requirements during good times, to be available in bad times’.
• Translation: ‘We don’t want real regulations which will constrain our permissive money-making behaviour. What we want is regulations made of India rubber which ‘go with the flow’ and that we can abuse and circumnavigate to suit our requirements’.

• Geithner: ‘Fourth, banks should be subject to explicit liquidity standards designed to improve their resilience in the face of runs by creditors and prevent the build-up of liquidity risk in the financial system as a whole’.
• Translation: ‘I am parodying Basel-II in order to bamboozle the G-20 into accepting my permissive agenda, without them realising what I’m up to’.

• Geithner: ‘Finally, we need to improve the rules used to measure risks embedded in the banks’ portfolios and the capital required to protect against them, and put greater constraints on banks’ use of leverage to dampen volatility’.
• Translation: Sounds nice, but see his fourth ‘point’ above: I am parodying Basel-II in order to bamboozle the G-20 into accepting my permissive agenda, without them realising what I’m up to.

• Geithner [final paragraph in his Financial Times (house organ) article]:
‘Strengthening capital requirements is an essential part of a broader effort to modernize [sic!] our regulatory framework so that the financial system is strong enough to withstand the failure of large complex institutions. That is the most effective way to prevent the world from re-living the events of last autumn [unspoken: which I personally, while I was President of the FRBNY, did so much to facilitate]. And that is the challenge we must tackle in London, Pittsburgh and beyond [unspoken: Pay attention to what I am saying, G-20].
• Translation: ‘Part of a broader effort to MODERNIZE’ = ‘to DUMB DOWN, so that we can wantonly infiltrate the off-balance sheet derivatives accruals onto the banks’ balance sheets under cover of the permissive regulatory régime intended by Paulson, myself and Bernanke, in the service of the criminal finance syndicate which we serve.

• In other words, we are in charge, and we reject the Basel disciplines while paying lip-service to them for public consumption and in order to hoodwink you G-20 attendees’ (9).

Geithner evidently thinks that he can outsmart the international community and the G-20 by sticking the Basel words back to them – using Basel-type language deceitfully in order to convey, with the naïve assistance of The Financial Times, an impression of wholesome regulatory rectitude – while in fact meaning the opposite. We and others, including the President of the European Central Bank, see right through this dialectic, as do the Chinese authorities.

• So it will ‘go nowhere’ – for this reason alone.

THE U.S. TREASURY SECRETARY IS WHISTLING IN THE WIND
The Geithner deception campaign is being waged in parallel with the overdue and drastic steps that will be taken, effective 16th September 2009, outlined above, by the Chinese authorities. This illustrates the fact that the US Treasury Secretary, who, with Dr Bernanke, was willfully BLOCKING the Settlement payouts which, by definition, will liquefy the banks (to the extent that payout monies have not been stolen), is whistling in the wind.

How does he expect his decadent formula to fly, in the face of the Chinese determination that it shall not fly, and in the face of the 100% transparent, fully taxable, on-the-books Dollar Refunding programme to be operated from London?

SWISS PRIVATE BANK TELLS CLIENTS TO SELL ALL U.S. ASSETS
On a separate note, but by way of illustrating how strands of ‘globalism’ are unravelling, Bloomberg reported on 2nd September that one of Switzerland’s oldest banks, Wegelin & Co., has told wealthy clients to sell their US assets, or remove their funds from the bank. The bank’s Managing Partner, Konrad Hummler, explained that US proposals to extend reporting requirements for banks with clients who acquire US stocks and bonds, together with estate tax liabilities that may be inherited by heirs of people with such holdings, had prompted the decision.

“We came to the conclusion that it’s a threat to our clients”, Herr Hummler, who is also President of the Swiss Private Bankers’ Association, said in the course of an interview during a conference in Zürich. ‘It’s also a threat to us as a bank because as a custodian we are an executor to the estate. We find this aspect discomforting, so we recommend selling all American securities whatsoever”.

Herr Hummler added that he intended to raise the issue on 4th September at a meeting of the Private Bankers’ Association, members of which include Pictet & Cie., Lombard Odier & Cie., and Mirabaud & Cie. After initial reservations, they were considering following suit.

• The report originally intended for publication on 2nd September 2009 starts here:

CIA NEVER MAKES MISTAKES, SO HOW CAN IT LEARN FROM THEM?
At the VIP showing of ‘Four Presidents and a Funeral’ held at the Boston Catholic Basilica of Our Lady of Perpetual Help [sic], CIA-‘President’ Barack Hussein Obama spoke about ‘learning from our mistakes and growing from our failures’.

However since the CIA never makes mistakes, it is hardly in any position to learn from them. But given that certain of those present were Grand Masters of manipulative cynicism, it is not out of place here to consider what the ‘President’ may actually have meant by these ‘inspirational’ words.

One definite possibility is that he was speaking in code to ‘the interested’ seated hypocritically en masse in the Basilica, signalling to those with ears to hear that the highest-level current and former operatives have ‘learned’ from the catastrophic mess they have made of the finances of the United States, the world, and their own pockets, by stumbling upon a new ‘wheeze’ to make money for themselves: hence ‘growing from our failures’.

PRESIDENTS 42 AND 43 FLY TO TORONTO AFTER THE FUNERAL
Let us explain. On the self-same day of the funeral, former President William Jefferson-Clinton AND former President George W. Bush flew at once to Toronto. The Toronto Star plastered a picture of Mr Clinton duly lecturing an audience of Canadian fans on ‘Embracing our Common Humanity’ – a dangerous title, one would have thought, for Clinton to employ, given that he used to embrace a Canadian MP of Austrian extraction during his frequent trysts in Canada of yore, a lady considered by some to be ‘common to humanity’.

But be that as it may, it stands to reason that Messrs Clinton and Bush Jr. rushed up to Canada for reasons OTHER THAN Clinton’s eagerness to enlighten a collection of extremely naïve Canadians – some of whom, according to The Toronto Star [31st August 2009] declared 42 to be ‘a marvellous fellow’, a ‘wonderful man’ and ‘an icon’, thereby lending new meaning to the phrase ‘Oval Office carpet’. The reasons for the Two Criminal Presidents’ haste to visit Toronto, are examined below.

THE REASON BUSH SR. DIDN’T APPEAR IN THE BASILICA
But first, we need to reconsider the ‘Four Presidents and a Funeral’ scene. They turned out to be NOT the Four Criminal Presidents who had DEMANDED and obtained their immunities on Thursday 22nd August 2009, as previously reported, but rather the Four Criminal Presidents MINUS George H. W. D. V. D. Godfather Bush Sr. – the stand-in being the ever-sunny and likeable President Jimmy Carter, who attended with his wife, the Steel Magnolia. So why, obviously, was the Godfather of all Godfathers missing from this happy gathering?

Why, none other than because George Bush Sr. had attempted to intervene with the settlements process that had in fact started on Thursday 27th August, continuing into Saturday, the day of the funeral. He is likely to have paid dearly for this last throw of the dice.

NO SPLIT: JUST A NEW CORRUPTION ‘OPPORTUNITY’
Bush Sr.’s absence from the funeral Mass gave rise to speculation on our part as to whether the Three Remaining Criminal Presidents had split from Godfather Bush – a proposition given some apparent weight by the nonchalant and goofily relaxed demeanour of former President George Bush Jr. at the Mass – to which the answer is ‘not really’.

On the contrary, Mr Bush Jr. was happy inter alia because he was about to fly to Canada with his criminal predecessor to clinch a deal which these operatives vainly hoped will float them out of the quagmire they’re in, characterised by the lugubrious fact that most of their accounts are frozen.

Before we visit Canada ourselves, though, a word about the World Court’s earlier behaviour. It proved impossible for us to obtain reliable indications as to whether suggestions that the Four Criminal Presidents’ craved immunities had in fact been revoked just as quickly as they were so scandalously granted. Given that Clinton 42 and Bush 43 surfaced in Toronto immediately after the funeral gathering, the balance of probability might have seemed to be that those reports were false or mistaken – although in view of the Canadian behaviour exposed immediately below, the Toronto authorities may have waived aside any such little local difficulties.

SCANDALOUS SITUATION AT THE WORLD COURT
There is also a peculiar, and quite scandalous, state of affairs within the World Court itself, which apparently enables individual Judges to annul what other World Court Judges have approved. The President of the World Court these days is Hisashi Owada (Japan), while the Vice-President of the Court is Peter Tomka (Slovakia). The Judges are: Shi Jiuyong (China); Mr Abdul G. Koroma (Sierra Leone); Awn Shawkat Al-Khasawneh (Jordan); Thomas Buergenthal (United States); Bruno Simma (Germany); Ronny Abraham (France: sic!); Kenneth Keith (New Zealand); Bernardo Sepúlveda-Amor (Mexico); Mohamed Bennouna (Morocco); Leonid Skotnikov (The Russian Federation); António A. Cançado Trinidade (Brazil); Abdulqawi Ahmed Yusuf (Somalia); and Christopher Greenwood (United Kingdom). The Registrar is Philippe Couvreur (Belgium).

With the likely exception of the Chinese and the New Zealand Judges, the ONLY World Court Judge who might be suspected of being liable to act honourably, would be Christopher Greenwood, the British Representative. And IF it is the case that a given World Court Judge can annul what other Judges or the Court itself have decided in the context of immunities, it stands to reason that one would expect this Thomas Buergenthal character have stood ready at all times to sabotage the decisions of other Judges, the World Court itself, or all of the above. No wonder the reputation of this globalist institution, which provides scant information concerning its operations, has sunk into the gutter along with those of the Four Criminal Presidents and the United States itself. [Note: the figure four in this context will be seen to require adjustment – up to the figure five].

Anyway, the complacent nonchalance and demeanour of former US Presidents 42 and 43 as they sat through CIA-President Obama’s eulogy for the deceased Edward Kennedy (‘one musn’t speak ill of the dead’, as one VIP noisily pointed out later), will have been enhanced by any stray thoughts they may have entertained during those proceedings concerning the infinite malleability of the Court.

Granted, the Four Criminal Presidents naïvely considered that they DEFINITELY NEEDED their immunities, otherwise they wouldn’t have DEMANDED them back on 22nd August, as we reported. At the same time, given the composition of this discredited globalist institution, the Two Criminal Presidents must have obtained some satisfaction from their knowledge that they can, if necessary, access the bank account coordinates of certain of these World Court Judges; and in any case, a clandestine promise of ‘compensation’ will have surely been all that was ‘necessary’.

Manifestly, if the foregoing analysis is inaccurate in any way, shape or form, the World Court can correct any inadvertent errors of analysis on our part at any time.

CANADA SUDDENLY POSTS US$-DENOMINATED BOND SALE
On 31st August, Bloomberg reported that Canada is planning a bond sale denominated not in Canadian dollars but in US dollars – the first such offering for more than a decade – and that the launch ‘may take place in the “near future”’. Canada does not in fact need to offer such bonds to the market, as its finances across the board are in a commendably healthy state; and we suspect that the entire operation will be ‘pulled’ given the ‘unfolding of events’ and this exposure.

But the Canadian Finance Minister, Jim Flaherty, announced the sale on Friday 28th August in a surreptitious manner on the Department’s website, without indicating the volume of such bonds to be sold. According to the website posting, the purpose of the bond is to strengthen the Canadian reserves of foreign exchange and to support lending by the International Monetary Fund. Mr Eric Lascelles, the Chief Economist with TD Securities Inc., Toronto, suggested that Canada’s supply of foreign currency-denominated bonds ‘has generally declined rather sharply over the years…. This is just an opportunity to reverse that trend’.

But it isn’t ‘an opportunity’ at all: it’s a wheeze suddenly posted without warning on the Finance Ministry’s website. Why?

Step forward (metaphorically speaking) William Jefferson Rockefeller-Clinton and George W. Bush Jr., world-class Financial Fraudsters and Experts in Stealing Other People’s Money whose swollen bank accounts have been extensively frozen.

If enough Canadian officials have been bribed, or rather, promised their cut from the intended high-yield, medium-term Canadian notes denominated in US dollar currency and therefore redeemable clandestinely via the Federal Reserve [see below], and given that the Criminal Presidents can only now deal ON the books, why, the answer to their ‘prayers’ will surely be a luscious new portfolio of foreign bonds issued in American currency. Except that this won’t happen!

UNITED ARAB EMIRATES TO KINDLY OBLIGE, AS WELL
And ever so helpfully, just to ‘make a market’, it is reported to us that the United Arab Emirates is now proposing to issue US dollar-denominated bonds, as well. Specifically, the state-controlled Emirates NBD PJSC, the biggest UAE bank by assets, is seeking, Bloomberg also reported on 1st September, to raise more than $500 million in US currency this year by selling medium-term notes with a typical maturity of between three and five years.

In fairness it should be added that Sanjay Uppal, the Chief Financial Officer with the UAE bank, also told Bloomberg that ‘honestly speaking we could go through this year with very little issuance’ on the assumption of a reduction in general nervousness in the financial markets – famous last words, since we are now in the eye of the biggest financial storm in history, courtesy of the Four Criminal Presidents, two of whom flew with indecent haste to Toronto on Saturday 29th August after leaving the Boston Catholic Basilica.

While accordingly hoping to line their own pockets thanks to the ‘good’ and probably corrupt offices of Canadian ‘facilitators’ (the fact that Clinton and G. Bush Jr. arrived in Toronto over a weekend is neither here nor there: that’s when deals are struck at this level of corruption), the Two Corrupt Presidents will also have been keenly aware of the extreme urgency of the situation (so far as their own pockets and persons are concerned). Because, without such a concept to cling to (and it may be aborted following this posting, as has occurred in the past), their already debilitated financial futures would surely be looking as severely constrained as their physical prospects.

For one thing, they wouldn’t be in any position to compete with the London-based on-the-books, fully transparent and taxable Dollar Refunding operation, of which they are insanely jealous and which all concerned in their circles have vainly attempted to thwart.

NEW YORK FED HAS A $500 TRILLION ‘BLACK HOLE’
But secondly, even more to the point, the entire Derivatives Hydrogen Bomb may be about to explode. Specifically:

• The Federal Reserve Bank of New York, primary seat of this Fraudulent Finance, is reported to us to have a BLACK HOLE of $500 TRILLION in off-balance sheet holdings that are not covered by any collateral or assets whatsoever.

This state of affairs arose partly under the stewardship (not) of Timothy Geithner, the current US Treasury Secretary, who uses barracks language when haranguing distinguished female heads of critical financial sector agencies, as previously reported. One can perhaps more easily understand why this man loses his cool: he will be taken down when this collapse ‘blows’.

• It was against this background that Reuters reported from Peking on 31st August that Chinese State-owned corporations will be allowed by the Chinese authorities to ‘walk away’ from any loss-making commodity derivative trades [see above].

Specifically, the State-owned Assets Supervision and Administration Commission, which is the regulator and nominal shareholder for the Chinese State-Owned Enterprises (SOEs), was reported to have informed six foreign banks that the SOEs now reserve the (sovereign) right to default on derivatives contracts. The report was derived from an unnamed Chinese official source cited by Caijing magazine in an article published on 29th August.

MORE BELATED CHINESE MEASURES AGAINST FRAUDULENT FINANCE
The report was qualified by Reuters’ assertions that official confirmation could not be obtained, but a banking source told the news agency that ‘a handful of the State-Owned Enterprises… are being encouraged by regulators to renegotiate. It’s outrageous, but it’s China, so everyone is treading very carefully’ – but not with sufficient care to prevent this report reverberating around the world, as all talk of recovery was suddenly swamped by well-founded gloom on 1st September, when the stock market reflected the mood immediately.

Air China, China Eastern and COSCO (shipping), having incurred colossal derivatives losses since 2008, were reported to have issued almost identical notices to banks.

• SASAC became responsible for overseeing the derivatives trading activities of SOEs from the local securities regulator in February 2009, after several Chinese firms had reported immense losses from playing around with derivatives.

This is the corollary to the new ‘Master Agreement’ régime referenced above, to be introduced by the Chinese authorities effective 16th September.

The Chinese authorities have been seeking since February 2009 to prevent the sale of foreign derivatives ‘products’ to Chinese firms by foreign banks, after certain large Chinese enterprises bought so-called ‘protection’ contracts against higher prices, when of course the derivatives sector imploded following the events of 10th-12th September 2008.

• In July, SASAC ordered all those Central Government-controlled State corporations still unwisely engaged in trading derivatives to file quarterly reports concerning their investments, including, the Reuters report added, details of their holdings and performance.

ORIGINAL THEFT OF DELMARVA TIMBER TRUST ASSETS
The gargantuan BLACK HOLE within the Federal Reserve Bank of New York is a direct and specific consequence of the criminal hypothecation of derivatives based on assets belonging to Delmarva Timber Trust which were stolen by CIA criminal finance operatives under the Clinton Administration with the full knowledge and encouragement of the White House.

• These Delmarva Timber Trust assets, including assets held in Bank Rafidain sub-accounts, were held in London and kept thus as a safekeeping measure to keep the assets away from the clutches of Godfather George H. W. Bush Sr., Rockefeller-Clinton and Leo Wanta.

•THIS is what Paulson, Geithner and Bernanke are COVERING UP.

The accumulation of such a colossal portfolio of dud derivatives assets, arising originally from this CIA-controlled THEFT, and the running of these dollar transactions via the New York Fed, has led directly to the biggest financial crisis in world history – a state of affairs which is exacerbated, ‘as we speak’, by the following further scandalous abomination:

DESPITE THIS CRISIS, BERNANKE WAS BLOCKING THE PAYOUTS
For the past three weeks plus, UP TO OUR CUT-OFF TIME, the Settlements payouts in the United States were BLOCKED, as reported above, by Dr Ben Bernanke, Chairman of the Federal Reserve Board, working with the desperate US Treasury Secretary, Timothy Geithner.

In other words, the CRISIS THAT WAS PRIMED TO BLOW UP was being deliberately triggered and exacerbated by the head of the US Central Bank himself, in order to assist Geithner and Paulson to continue obfuscating the existence of this $500 trillion ‘BLACK HOLE’.

Which, of course, also explains why CIA-‘President’ Obama (10), holidaying on Martha’s vineyard in readiness for the expected ‘Four Presidents and a Funeral’ event, very suddenly interrupted his vacation – having (to our own professional knowledge) previously told the pressmen and women accompanying him, to ‘chill out because there won’t be any news this week’ – and took time out on 25th August to propose that Dr Bernanke should serve a second four-year term as Chairman of the Federal Reserve Board.

This announcement could perfectly well have been made later, after Obama’s return to Washington, and in any case was issued way in advance of ‘normal practice’.

CIA-PRESIDENT OBAMA IN SECRET CAHOOTS WITH BERNANKE
What this told us was that, since we know that Bernanke was BLOCKING the payouts, ‘President’ Obama, who was repeatedly reported to us by usually reliable US sources to be ‘anxious for this matter to be finalised once and for all’, was playing a double game – since he had so prematurely reappointed the US central banking official whom he knew to be blocking, and whom he had very probably ‘instructed’ to block, the Settlements payouts in the United States.

• Hence CIA-‘President’ Barack Obama is or has been a co-conspirator with Godfather George H.W. D.V.D. BushSr, Clinton 42, Bush Jr. 43, Hillary Clinton, et al. in holding the whole world to ransom.

POOR BERNANKE A VICTIM OF IDENTITY FRAUD
In a revealing side-show, Agence France-Presse and Newsweek reported on 26th August that poor Federal Reserve Board Chairman Dr Ben Bernanke was one of hundreds of victims of an identity fraud ring that stole over $2.1 million from individuals and financial institutions. Court documents had revealed that a thief stole Dr Bernanke’s wife’s purse in August 2008 and had begun cashing cheques on the Bernanke family’s bank account.

The reports stated that the theft of Dr Bernanke’s cheque book became part of an ongoing, wide-ranging identity-theft investigation mounted by the US Secret Service and the United States Postal Inspection Service, and that the probe led to arrests, criminal complaints and indictments brought by Federal prosecutors in the United States Court for the Eastern District of Virginia, Alexandria – the famous court which was the scene of the events of 19th October 2007 reported by this service and attended by the Editor.

The Chairman of the Federal Reserve Board permitted himself the privilege of being interviewed by Newsweek, saying that ‘identity theft is a crime that affects millions of Americans every year’.

‘Our family was but one of 500 separate instances traced to one crime ring. I am grateful for the law enforcement officers who patiently and diligently work to solve and prevent these financial crimes’.

Inevitably, the Editor’s sensitive nature compels him to commiserate with Dr and Mrs Bernanke. What a trial this experience must have been for them, poor things.

FED IS (WAS) NO-GO AREA FOR U.S. LAW ENFORCEMENT CADRES
Since, however, the Federal Reserve and the Federal Reserve Interbank Settlement Fund are no-go areas for the law enforcement officers of which Dr Bernanke is so touchingly proud – given that no checks and balances apply in that arena – we can be certain that the Chairman of the US Federal Reserve Board loses no sleep at night, after stroking his beard, over the financial devastation that he inflicts upon the payees of the Settlements monies, including the 330,000 victims of the ruthless Ponzi schemes perpetrated by the crumbling edifice of endless financial corruption constructed by Godfather Bush and his chief technician, Bernanke’s predecessor, Dr Alan Greenspan.

The fact that NONE of the criminals who thought they would be paid, will be receiving a single red cent, according to our latest authoritative information, does not in the slightest compensate for the scandalous fact that the Chairman of the US Federal Reserve Board was himself willfully continuing to block legitimate payouts in collaboration with the US Treasury Secretary.

BARNEY FRANK BELATEDLY CALLS FOR THE FED TO BE AUDITED
Significantly, but far too late to save the situation, Representative Barney Frank has joined Rep. Ron Paul in calling for a comprehensive audit of the Federal Reserve Board – in the context of Bloomberg’s case against the Fed which resulted in a Court victory for the publisher, and that Dr Ben Bernanke, of course, is resisting.

• An audit, which will need to include the Federal Reserve Interbank Settlement Fund. will put an end to the corrupt practices at the Federal Reserve once and for all: so ‘Gatekeeper’ Bernanke’s job is to prevent that happening, while illegally blocking the Settlements payouts at the same time

‘EXTRAORDINARY RENDITION’ OF TOP CRIMINALS REQUIRED
The British Monarchical Power, wielding the Writ of Execution, should instruct the ‘enforcers’ to procure the ‘extraordinary rendition’ of these highest-ranking US financial criminals, including Dr Bernanke himself, to a jurisdiction where the handcuffs that need to be applied to them are not subsequently ordered to be removed by World Court Judge Thomas Buergenthal.

• The report originally intended for posting on 2nd September ends here.

LIBYAN CONTROVERSY IS A U.S. FALSE FLAG OPERATION
The row over the release from Scottish incarceration of the Libyan prisoner (note that we do not describe him as ‘bomber) has been misrepresented on both sides of the Atlantic. In Britain, the ‘mainstream’ media has focused on the ‘humanitarian’ dimension, which has been escalated to ‘pinpoint’ the Prime Minister, Gordon Brown, as duplicitous in ‘doing this deal’ behind the backs of ‘our friends the Americans’. In the United States, outlets such as The New York Daily News have all enjoyed themselves throwing bad eggs at the British – with that newspaper declaring on 2nd September that the ‘Special Relationship’ is ‘gone’, under the headline: ‘Brown the Betrayer’.

The yellow New York paper waffled: ‘As for the ‘Special Relationship’ between the US and Britain, the storied alliance built on the resolve of World War II and carried on through Thatcher and Blair, through Iraq and Afghanistan: it is, in a word, gone’.

Now this service has argued that the ‘Special Relationship’ is shattered and should be wound up, but NOT for the spurious reasons put forward by US outlets. On the contrary, our ‘line’ is that we have been deceived and abused for so long by the United States, which has traditionally treated the United Kingdom with cynical disdain, that there is no point in continuing this pretence until such time as the Americans ‘clean up their corrupt act’.

However whereas WE have sound reasons for this argument, the barrage of hatred pouring forth from the United States following the release of the Libyan intelligence operative is based upon the very kind of duplicitous behaviour of which WE complain, and of which the US outlets themselves are complaining in the context of the release of Abdel-baset Ali Mohmed al Megrahi from jail in Scotland (11) in a disgusting ourbreak of ‘Black-calling the Kettle Pot-ism’.

DAVID RIFKIN, A U.S. SCUMBAG, LECTURES US ON THE BBC
In this connection, one of the more loathsome US operatives who stuck his oar in, appearing on the air to castigate the British over this affair, was David Rifkin, a former US Justice Department official who ‘served’ under Reagan and George W. Bush. This impertinent US operative surfaced on the BBC’s ‘World at One’ radio programme on 2nd September to inform us as follows:

‘This is the kind of duplicitous behaviour that most people here do not expect from Britain. I really can’t think about a more duplicitous act by Britain vis-à-vis the United States in the postwar period’.

Note that Mr David Rifkin stated that such behaviour was not to be expected from Great Britain – whereas (unstated) it is standard behaviour from the United States, given the hegemony of the criminalised Intelligence Power, as Mr Rifkin knows perfectly well. While his wife served on the Federal Reserve Board, David Rifkin, described to us by US sources as ‘a scumbag’, exploited his wife’s position by engaging in all sorts of off-balance sheet deals in which he should not have been engaged. He is a spokesman for the de facto Financial Terrorist group within the structures, a fact of which the naïve ‘World at One’ BBC presenters would have been wholly ignorant. Lectures from this US scumbag are accordingly themselves doubly duplicitous and therefore contemptible.

THE CHENEY OIL OPERATION IN LIBYA
Two especially notorious US intelligence operatives named Christiansen and Brock, in partnership with the criminal operative Richard B. Cheney, did a clandestine deal with the terrorist Government of Colonel Qadhafi, and developed a Libyan oilfield. After President R. Reagan’s bombing of Libya (using British airfields without our permission for the purpose, of course), these nasty operatives returned to Libya, where they resumed operations.

Given that British Petroleum (BP) has its largest operation in Libya, this contrived furore over the ‘Lockerbie bomber’ clearly has NOTHING to do with the sensitivities of the bereaved families, or concerning where al-Meghrahi was to die, about which these hardened criminals couldn’t care less – and everything to do with a carefully pre-planned ‘Blowback’ operation designed to discredit the British Government by exploiting the fissiparous inclinations of the Scottish Nationalist minority government in Edinburgh, consequent upon the following development.

BRITISH SIMPLY TOOK A LEAF OUT OF THE U.S. BOOK
It is perfectly clear that the British took a leaf out of the US Intelligence Power’s ‘grabitisation’ book. What happened, in essence, was that a very long-range British intelligence operation was developed for the purpose of ‘locking’ the ‘Lockerbie’ scandal into place in the British national interest (even though supposedly no European Union country has any national interests as they have largely been collectivised under the European Union arrangements: this example shows how false that ‘settlement’ is in practice).

Participants in this operation included the ‘cream’ of British ‘hard men’, all of whom could easily give their odious American intelligence rivals a run for their money. These figures included Sir John Bond, Chairman of HSBC; Lord Foster, the ‘international’ British architect; Lord Guthrie, the former head of the British military; Lord Bell, the Lady Thatcher’s original PR man, now a publicity tycoon; Prime Minister Tony Blair; Lord Browne, ex-Chief Executive Office, British Petroleum; Lord (Jacob) Rothschild; Jacob’s son, Nathaniel Rothschild; Peter Munk, a billionaire operative; Peter Mandelson, the high-ranking Business Secretary ‘handler’ of Gordon Brown; and, on the Libyan side, Colonel Muammar Qadhafi and his son, Saif al-Islam Qadhafi, whom the Rothschilds have carefully cultivated and befriended over a long period.

CHENEY TRYING TO DESTROY U.S.-UK COOPERATION
The correct way to look at the Libyan sequence, therefore, is to recognise that the contrived row over the ‘Special Relationship’ reflects a US Blowback operation orchestrated by a highest-level US criminal intelligence agent called Richard B. Cheney. Furthermore, this operation fits perfectly with the ongoing deception activities of the US Treasury Secretary, Timothy Geithner, a scoundrel whose days in power (we predict) may be numbered by the ‘unfolding of events’, who is focused on replacing European representation on the Board of the over-compliant, US-controlled International Monetary Fund by procuring a reduction of seats on the Board from 24 to 20 by 2012, with the large developing countries that already have chairs retaining them. The object of this exercise is to kick the British (and possibly the French) off the Board, so that it can then be packed with more corrupt Directors from emerging countries upon whose support the desperate, corrupt elements headed by Geithner within the US Treasury depend for re-starting the collapsed derivatives trading sector.

THE UNANSWERED AFGHANISTAN QUESTION GETS NASTIER
The refusal of the British Ministry of Defence to answer the Editor’s question ‘what are we doing in Afghanistan’ – with its repeated corollary that in the absence of any coherent official answer, the Editor would have to advise readers that Great Britain is supporting a subversive US operation to acquire control over the heroin trade – is now destabilising the British Government itself.

Specifically, Eric Joyce MP, a former British Army Major and the Parliamentary Private Secretary to the Defence Secretary, Mr Robert Ainsworth, resigned on 3rd September, presenting the UK Prime Minister, Gordon Brown, with a sharp rebuff for the Government’s failure to explain to the British people why our troops are being killed in large numbers in an Afghanistan war the true rationale of which has never been explained to the British people.

This MP for Falkirk West stated pointedly in his resignation letter: “I do not think the [British] public will accept for much longer that our losses can be justified simply by referring to the risk of greater terrorism”. Dismissing this outburst as the opinion of ‘a junior parliamentary aide’, the previously almost unheard-of Mr Ainsworth failed to answer our question, or any one else’s – leaving the issue up in the air, and therefore ripe for further elaboration by this service.

To begin with, unconfirmed reports from within British military circles suggest that, despite early indications that British troops are soon to be withdrawn from Afghanistan (believed to arise due to the ‘unfolding of events’), contingency plans ALSO exist for as many as 32,000 British troops (thirty-two thousand) to be deployed there. This madness is accompanied by Mr Joyce’s further comment in his resignation letter to the following effect: ‘Britain fights; Germany pays; France calculates; and Italy avoids’, in the Afghan context. More to the point, Germany has a military force of 340,000 under arms, with a further 50,000 armed reservists, 1,000 tanks in pristine condition ready to roll and, according to information ‘special’ to this service, surreptitious nuclear weapons.

• By contrast, the British military is bleeding to death, resources are being poured down the ghastly Afghan drain to support the corrupt American grab of the heroin trade, and our aircraft carrier projects have been indefinitely postponed or cancelled in part because the UK military’s resources and services are being deliberately diverted and abused.

And why are they abused? Let’s get to the nub of this issue:

• Britain’s military forces, the best in the world, have been subverted. Specifically, they are not deployed in the national interest (given that European Union ‘Member States’ have no national interest since they have mostly been collectivised, unless we are talking about Germany and France in which case collectivisation is for the rest of the EU and not for them).

• On the contrary, our military is routinely deployed in the ‘international interest’, namely in support of an internationalist agenda, which in reality means the agenda of the criminalist internationalists.

• This reality CANNOT BE EXPLAINED TO THE BRITISH PEOPLE because they don’t know about this subversive agenda (although a huge percentage almost certainly suspects it), and because they overwhelmingly support the continued unity and sovereignty of the United Kingdom of Great Britain and Northern Ireland.

• Therefore, the UK Ministry of Defence is, in collaboration with the UK Government as a whole, engaged in a gross deception of the British people – one consequence of which includes the fact that hundreds of our finest young men are being slaughtered in a war which, contrary to vague official assurances, does not serve British interests at all.

• In fact the reverse is the case: precisely because the Ministry of Defence provides its military resources in support of internationalist (i.e. FOREIGN) interests, which they are precluded from revealing because they cannot divulge the truth to the British people, the MOD is actually engaged not only in deceiving and defrauding the British population, but in renting out its military power to the enemies of the United Kingdom.

The sooner such straightforward, basic truths start to sink into the thick skulls of brainwashed UK apparatchiks, policymakers, the political Establishment and officialdom, the better.

INSPIRING EXAMPLE SET BY THE MAYOR OF DONCASTER
They could do well to consider the behaviour of a newly elected Mayor of Doncaster, a northern British town. Announcing that he considers that his task is to reduce the costs of bureaucracy and thus the burden on the people he was elected to serve, this man has indicated that he will use his newly conferred popular power as follows:

• His first action was to reduce his own salary from £75,000 to £30,000, saving taxpayers £45,000.

• He immediately reduced the huge number of Council members to a dozen, saving the city an estimated £800,000 per annum.

• He has already blocked the funding of a ‘gay pride march’.

• He will block the funding of all superfluous and subversive ‘Common-Purpose’-influenced activities which have nothing to do with the purposes of municipal government.

• He has informed all holders of ‘non-jobs’ within the municipal bureaucracy that they had better start looking for a real job outside local government, because their non-jobs will be terminated.

• On the basis of the immediate savings he has ordered, he has announced that the Council Tax bills for local people will be reduced initially by 3%.

• He has reiterated that he was elected to serve the people of Doncaster, that he places their interests above all others, and that he will oppose, refuse and terminate all activities and expenses which contravene that purpose.

BRITISH MINISTRY OF DEFENCE IS BETRAYING THE PEOPLE
The British Ministry of Defence has sold its soul to corrupt interests which contravene those of the British people. It should come clean with the people, starting with Afghanistan. If It can’t persuade its brainwashed Government bosses to come to their senses, it should take matters into its own hands and issue a ‘Mission Statement’ indicating that it serves the interests of the British people exclusively and that it will ensure in the future that this objective is rigidly adhered to.

Of course this isn’t going to happen, is it. Well, they said that before we started this operation to eliminate the scourge of the criminalist financiers and of their Fraudulent Finance.

A GLIMPSE OF REVOLUTIONARY REALITY IN THE BURMA CONTEXT
Referencing our previous coverage of the ‘rescue’ of an American from Burma (a.k.a. Myanmar) by Senator Jim Webb, Chairman of the Senate Foreign Relations Committee, we have been informed that the rescuee was seen making a satanic salute during his transfer from Burma in the sequence described, to the United States.

This reinforces our perception that Burma is intended to be ‘unlocked’, no doubt as the Afghan situation goes from bad to worse, in the interests of the drug operations conducted by the CIA and the corrupt US military which, like the Agency, is engaged in drug-trafficking.

The ‘Burma Play’ has next to NOTHING to do with ‘establishing democracy’ and with the fate of the Burmese ‘democracy icon’, Aung San Suu Kyi – but EVERYTHING to do with validating an option to ‘unlock’ Burma in the interests of (drug-trafficking) strategy. No doubt Webb, described as ‘a gruff Vietnam veteran’, is himself a ‘Useful Idiot’ who may not understand what he is doing.

In all likelihood, the American ‘rescued’ by Senator Webb was a CIA operative or agent fulfilling instructions to prepare the ground for this ‘Burma Play’ operation, which would explain his satanic salute. In case this mystifies some people, it is a characteristic of these Workers of Darkness that they cannot contain within themselves what they are up to, often resorting to gestures – like the satanic salutes perpetrated by former President Bush Jr., and Laura Bush at the 2004 Inaugural Ball, or the same gestures by many other key operatives, including the Iranian President Ahmad Inejad (Mr Dinner Jacket) – to release their tensions.

• We liken such behaviour to the spooky gargoyles stuck up on European masonic cathedrals, many of which stick their tongues out at passers-by below.

BUSH PUSHED WAY BEYOND CO-CONSPIRATORS’ TOLERANCE
In taking stock of the ongoing and immediate ‘unfolding of events’, we may observe as follows:

• The head of the serpent, George H. W. D. V. D. Bush Sr., being of dual German and US nationality and of Germanic extraction, has, as we predicted, exhibited the cardinal weakness of all German schemers and conspirators. He has simply pushed matters so far beyond the toleration snapping-point even of his own most obliging criminalist associates in the trading, financial, official and organised crime sectors at home and abroad, that he has destroyed and forfeited their bought and blackmailed ‘loyalty’ to him and everything he stands for.

Hitler made the same mistake: he went too far and lost his essential support and underpinning, as a result. This is in fact a standard German trait, born of pride and arrogance, and one which profilers, had any with integrity existed within the structures, could have identified as soon as the scales ever started to fall from their eyes as a consequence of these exposures.

• ‘All things considered’, we should actually ‘be grateful for’ the fact that this serpent has shown himself to be true to this fateful weakness. The reason for this is as follows. By pushing bovine intransigence to such extremes, thereby alienating not only the corrupt collaborators at home and abroad without whose cooperation his criminal cartel operation cannot function, but everyone else who matters as well, he has unwittingly ensured that the FINAL OUTCOME will be seen to be MORE SATISFACTORY than would have been the case if some kind of sordid, dirty compromise had been agreed earlier in the process (which was actually impossible: see below).

• BECAUSE: The serpent’s intransigence has made it inevitable that the entire global portfolio of fraudulent off-balance sheet derivative ‘assets’ would indeed be shown and finally recognised to be worth ZERO – and that this evolved outcome would, by process of the disgust and exhaustion attributable exclusively to this serpent’s obtuse misplaced cunning and stupidity in spinning his resistance out for so long, come (much faster than anyone may have anticipated) to be accepted without question everywhere. Had some kind of compromise been reached with the weaker and now decapitated cabal and its criminalised intelligence sector hangers-on earlier, such a decisive outcome would not have been possible, and the world would have limped towards an even ghastlier catastrophe, if that can be imagined.

• Therefore, hideous, exhausting, infuriating, maddening, destructive and destabilising although this horrible experience has been for ALL concerned, that is the prohibitive price that has been and is being paid for REAL reform and fumigation.

• We expect the pace of arrests, indictments, imprisonments and ‘other measures’ to accelerate as the resistance crumbles with the COLLAPSE of the crime syndicate and its associates – beginning in the United States and spreading rapidly throughout the world.

SATAN WAS NOT CALLED THE SERPENT FOR NOTHING
In this connection, the being to which we are introduced at the beginning of Genesis, after Adam and Eve, is the underworld creature called THE SERPENT. The choice of this metaphor to signify TOTAL EVIL, was NOT ACCIDENTAL. Think about it. What does a serpent DO? It slithers around. Can it move in a straight line? Can it be relied upon for any purpose? The answer is NO.

The reason that this financial crisis may now at last be on the verge of resolution (on the basis of intelligence to hand, and assuming no or few further serpentine slithers) is that all who have stood up to and resisted the wiles of the serpent are CRUSHING THE SERPENT’S HEAD. Once the head of the serpent has been bruised, as the Bible puts it, the serpent cannot slither any longer.

What has the Bush-Clinton-CIA-DVD criminal syndicate been doing in response to the repeated initiatives taken against it by those who have finally resolved to fight for the restoration of the Rule of Law (leaving aside the reality that the corrupted US legal system needs to be purged as a matter of urgency, as well)?

Every time some kind of ‘accord’ or undertaking has been reached, the serpent has predictably reneged on its undertakings – that is to say, the snake has slithered back into the undergrowth.

• Irrespective of the details of each successive phase, this is the essence of what has been happening. The serpent has repeatedly slithered into the undergrowth instead of fulfilling its promises, which have invariably turned out to be worthless.

We have, in fact, been living through an enactment of what we are taught at the beginning of the book of Genesis, BUT WHICH MOST OF US NEVER UNDERSTOOD. We have witnessed THE ESSENCE OF EVIL, and how it operates. Those who have tried to reach accommodations with the serpent and his sub-serpents, have been deceived on every occasion.

THE SERPENT IS A DISCIPLE OF LENIN [or rather, vice versa]
Well, of course. One cannot ever reach accommodation with a serpent. It was ‘not by accident’ that Lenin, one of the 20th century’s most conspicuous incarnations of the serpent, taught his followers that ALL agreements made with ‘the bourgeoisie’ can be reneged upon whenever ‘the correlation of forces’ favours ‘the Revolution’ (which itself means ‘slithering round and round in circles’). The US revolutionary criminals at the highest level operate on precisely the same criteria: as the Editor of Soviet Analyst, this Editor can state with authority that we have observed the criminal operatives at the highest levels of the US official structures following Leninist methodology, including dialectical behaviour, TO THE LETTER.

These American and collaborating foreign operative-office-holders are disciples of Lenin. At the relevant levels, covert and overt Soviet (‘International Socialist’) and German (‘National Socialist’) long-range intelligence structures work closely together, as has been the case since long before the Molotov-Ribbentrop Pact. The collapse of that accord made no difference over the longer term, (and even among Hitler’s own Nazi intelligentsia, at the time): because it represented just another dialectical ‘switch’ – yet another ‘bait and switch’ operation.

TAKEN BY SURPRISE, THE SERPENT COULDN’T ORGANISE ITS OWN DEFENCE
So: we have been wrestling with the serpent and observing closely how he operates.

• Furthermore, in bruising the serpent’s head, all of us who have stood up against this ruthless and relentless evil, have demonstrated the indisputable fact that when faced with real opposition, the snakes were so taken by surprise that they couldn’t organise any defence.

• They slithered into the undergrowth instead.

Belatedly, they have, it is true, orchestrated ‘stings’ and scamming operations against some of us (including a CIA operation to proliferate the theft of the rights and copyright in our books to try to entice us into financially destructive litigation, which will be exposed in detail soon); but because they were so staggered that there was any opposition at all, they were taken by surprise and failed to organise in retaliation. They have been kept on the wrong foot ever since.

NO ‘GUTS’ ARE NEEDED! JUST DO IT!!
It may be recalled that a commentator, Mark Huber, reported as follows on another website, on 12th June 2008, concerning some of these exposures:

“Chris Story’s facts are understated. This is much bigger than he knows or is willing to state… so far. He is the only investigator who has had the guts to print the results of his research. It is causing unbelievable turmoil in criminal, financial and political circles, long accustomed to conducting their nefarious actions beneath the radar of the public, and honest media”.

But actually NO GUTS ARE REALLY NEEDED. The secret is: JUST DO IT!!! When you have ‘done it’ they are ALREADY on the back foot. Just as the blackmailer is actually in a weaker position than the blackmailee (who can defang the blackmailer permanently by allowing the blackmailer’s report to be acknowledged), so are these snakes PERMANENTLY disadvantaged when their criminal behaviour has been, and continues to be exposed. THEY CANNOT RECOVER FROM GENUINE EXPOSURE!

Think about it. If the allegations are true, they can’t deny them. When we have stated that Citibank is a criminal enterprise, nothing happens. Why is that? BECAUSE IT’S TRUE. And any perusal of the cases involving money center banks in the United States Court for the Southern District of New York, in Downtown Manhattan, for instance, will reveal that innumerable other colossal institutions which we could name, are criminal enterprises, as well.

WHEN WE STAND UP TO THEM, THEY ‘FALL BACK TO THE GROUND’
From which it may be deduced that when we stand up to these criminals, they are so staggered that ANYONE has had the effrontery to DARE to contradict them, which has never taken place before, that they become mired in confusion. This confusion becomes all the more agonising and acute for them because the serpent’s arrogance, given that he has perpetrated these huge crimes without opposition for so long, has blinded him and his fellow demons to the reality that the opposition is no flash in the pan, but is – let’s boldly acknowledge the fact – supported and ordained by the Divine Providence. The credit belongs NOT to any one of us, but exclusively to The Lord.

• In this context, if you search the scriptures, you will find that the demons are NOT atheists. They KNOW about the Lord, and are TERRIFIED (12).

Those who cannot bring themselves to believe this, or to believe at all, would nevertheless do well to contemplate, in this context, the following verses from the Gospel of John that we have often highlighted before:

‘Jesus therefore, knowing all things that should come upon him, went forth, and said unto them, Whom seek ye?’

‘They answered him, Jesus of Nazareth. Jesus saith unto them, I am he. And Judas also, which betrayed him, stood with them’.

“As soon then as he had said unto them, I am he, they went backward, and fell to the ground’. [John, Chapter 18, verses 4-6].

He withstood them, and they went backwards, and fell to the ground. That is what happens when we resolutely, and with steely determination, and knowing by Whom we are supported, stand up to the serpent and his disciples.

Notes and References:

1. ‘Bravo to Christopher Story. His answer is so appropriate and eloquent. This shows once again, what a “class act” this talented man is! In such a critical time, it is without question appropriate to use best judgment and to act as prudently as possible. Waiting a few extra days is not going to be the end of the world. Some people lose perspective of the enormous scope of what’s coming’.

In the event, as indicated in the main text, we have been specifically informed that the two main consequences associated with our delay in publishing that are noted, arose because, after turning down the extraordinary 2% (or 2.5%) cut offer (as described later in this report), Bush’s duplicity was FINALLY comprehended by certain cadres who ought to have known much better years earlier.

2. Uttering threats is a Federal offence no matter how the threat is uttered; but in the present context it is understood that Bush Sr. has been uttering threats of physical retribution over the phone. [In a much earlier commentary, we may have suggested that the utterance of threats, which is a criminal offence in the United Kingdom, may not have the same ‘standing’ in the United States. We elaborated this in the context of the numerous threats received by the Editor of this service (now up to 28, by the way, of which six have been explicit death threats, and excluding the ‘Triple Gunshot Voicemail’ episode that followed the ‘lockdown’ of the $14+ trillion achieved on 10-12th September 2008 as a direct consequence of our intervention).

• We stand corrected and now confirm what we should have known earlier, that the utterance of threats in the United States is a Federal offence.

3. Email received by the Editor from a high-level payee at 6:01pm on Thursday 3rd September 2009.

4. The Wall Street Journal, 3 September 2009, International Finance section, page C2, ‘Foreign banks caught in a bind’, report from Shanghai by Denis McMahon.

5. “Europe has mapped its monetary exit’, Jean-Claude Trichet, President, European Central Bank, the Financial Times, London, 3rd September 2009.,

6. ‘Derivatives users warn on OTC regulation’, The Financial Times, 2 September 2009.

7. The Daily Telegraph, Business section, 4th September 2009, page 1, ‘Moulton quits Alchemy over strategy’. The insider added: ‘Many of Alchemy’s investors have been with Jon [Moulton] for a long time. He has made them a lot of money and they put their money to work based on him’.

• These savvy investors, noting that one of the very top UK hedge fund operators is getting out of the business NOW, will most certainly take the hint and grasp the opportunity (IF IT STILL REMAINS) presented by the associated variation of the ‘key man’ clause, to remove their funds from Alchemy before it collapses. This is proxy for the ENTIRE derivatives sector, as it unwinds, because off-balance sheet funds WILL be worth zero, whatever Geithner, the industry lobbying organisations and the Financial Times may propagandise to the contrary. Money is being rapidly removed from these entities whenever possible.

8. It was Lenin who used the phrase ‘the unfolding of events’ to describe or hint at a cascading sequence of developments destined to swamp and smother all attempts to resist it. As noted elsewhere in this report (and also earlier), US holders of high office and routine CIA behaviour demonstrate by their slimy words and unreliable undertakings that they are de facto disciples of Lenin – in many respects, more skilled and devious than their Soviet counterparts.

9. ‘Financial stability depends on more capital’, by Timothy Geithner, US Treasury Secretary (for the time being), The Financial Times, 3 September 2009.

10. Concerning CIA-‘President’ Obama, we have been remiss of late in failing to post a reminder that on 14th June 2008, the well-regarded News Host Tim Russert died suddenly of a ‘heart attack’ aged 58, almost immediately after concluding an interview with Barack Hussein Obama. It will be recalled that the Bush Godfather appeared at the funeral.

11. The matter of the involvement of the Scottish Nationalist minority Government is a separate issue here, and is excluded from this analysis. However the incident has unveiled the fact that this Scottish devolved government, established under Blair’s devolution project in 1999, is behaving as though Scotland is a sovereign power in its own right – pursuing ‘trade’ agreements with countries such as Qatar, representing itself in Brussels, and otherwise conducting itself in precise conformity with one of Lenin’s more obscure dicta: ‘separation precedes federation’ (although the Scottish nationalists will have a problem with the ‘federation’ bit.

[This subject requires a separate presentation].

12. ‘Thou believest that there is one God; thou doest well: the devils also believe and tremble’, James (the brother of Jesus), Chapter 2, verse 19.

• COPYRIGHT NOTICE: The Editor and his companies have taken measures to obtain protection and recompense for the gross breaches of the copyright material, books and works owned by this service, our companies, the Editor and Author, and the Authors whose interests we must protect. In the first place, a pirate platform service in the United States has received a demand for a very large sum of money to compensate us for the wanton stealing of three of our books, the consequence of which barbaric acts has been effectively to destroy our book publishing business. Secondly, the agents for the Google Settlement have been specifically informed by registered mail that we have written, also by registered mail, to the four universities and one public library who have entered into an agreement with Google under the so-called ‘Google Settlement’.

The universities in question are: Oxford, Stanford, Harvard and Michigan; and the public library is the New York Public Library. Our three companies have opted out of the Google Settlement, which is anyway now in some disarray.

These and related parties have been advised that if ANY of our works, published by all three of our companies, not just the intelligence books company which has already been severely ransacked, are assaulted by copyright pirates, we will take all legal measures open to us to enforce our rights and those of our authors. The rationale underlying this scourge is the false and spurious one that the intellectual property of the whole of humanity is the property of the ‘global commons’: a dirty, revolutionary piece of hypocrisy and subversion, the underlying purpose of which is to destroy small publishers so that there will be no dissenting voices to The New Underworld Order.

When time permits, we will be providing ‘further and better particulars’ concerning this outrageous revolutionary development. In the meantime, those amoral persons and parties who have so far downloaded our works are hereby warned that every single download will be traced, and that they risk being pursued for very large damages for gross and insolent breaches of our copyright.

Anyone wishing to reproduce the important anti-World Revolution article posted here must contact the Editor for written permission, on the understanding that a precise form of words that we will specify must accompany any reposting and that the entire article, with credits, must be displayed. Any deviation will be treated as a breach of copyright and dealt with accordingly [see above].

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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NON-U.S. INTERNET SECURITY SOLUTION CD AVAILABLE: FAR BETTER THAN NORTON ETC
It has now been established that the National Security Agency (NSA) works with/controls Microsoft, Norton, McAfee, and others, in pursuit of the Pentagon’s vast BIG BROTHER objective, directed from the ‘highest’ levels (not the levels usually referred to) which seek to have every computer in the world talk direct to the Pentagon or to NSA’s master computers.

This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

We use a proprietary FOREIGN Internet Security program which devours every PC Trojan, worm, scam, porn attack and virus that the National Security Agency (NSA) throws at us. We are offering this program (CD) to our clients and friends, at a premium. The program comes with our very strong recommendation, but at the same time, if you buy from us, you will be helping us finance ongoing exposures of the DVD’s World Revolution and the financial corruption that has been financing it.

The familiar US proprietary Internet Security programs are by-products of US counterintelligence, and are intended NOT to solve your Internet security problems, but to spy on you and to report what you write about, to centralised US electronic facilities set up for the purpose. You can now BREAK FREE from this syndrome while at the same time helping us to MAINTAIN THE VERY HEAVY PRESSURE UPON THE CRIMINALISTS WE HAVE BEEN EXPOSING, by ordering this highest quality FOREIGN (i.e., non-US) INTERNET SECURITY SOLUTION that we have started advertising on this website. This offer has been developed in response to attacks we have suffered from the NSA nerds who appear to have a collective mental age of about five years, judging by their output.

• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

The premium contains a donation for our exposure work and also covers our recommendation based on the Editor’s own experience that this INTERNET SECURITY SOLUTION will make your Internet life much easier. The program has an invaluable ‘Preview before downloading’ feature.

*VISTA: Virtual Instant Surveillance Tactical Application.

WORLD COURT ENFORCEMENT TEAM IN U.S. THIS WEEK

SWINE ‘FLU = BLACKMAIL OP. DROPPED BY OBAMA TEAM IN MEXICO

Thursday 30 April 2009 21:37

• WORLD COURT ENFORCEMENT PERSONNEL ARRIVE IN U.S.

• STATE OF EXTREME, UNPRECEDENTED GLOBAL TENSION

• SPLIT WITHIN THE RANKS OF THE WORKERS OF DARKNESS

• ENFORCEMENT OF THE WORLD COURT’S WRIT IS MANDATORY

• TRILLIONS OF DOLLARS STOLEN BY BUSH 41 AND 43 RETRIEVED

• OBAMA WHITE HOUSE ADVANCE TEAM RESPONSIBLE FOR ‘FLU OUTBREAK?

• CRIMINALS OPERATING INSIDE THE U.S. GOVERNMENT ARE WAGING BIO-TERRORISM AGAINST THE AMERICAN PEOPLE AND THE REST OF THE WORLD FOR SELF-ENRICHMENT

• DISINFORMATION SPREAD BY U.S. LAW ENFORCEMENT

• POSTSCRIPT: MORE ON OBAMA’S REMOVAL OF JESUS SYMBOL

• Operating the $ Refunding from London without US Government participation delivers:

(1) Massive ongoing windfall tax accruals to the BRITISH Treasury given that all funds resident in the United Kingdom jurisdiction for 24 hours are taxable by the Inland Revenue. This makes the UK Refunding proposal of extreme interest to Her Majesty’s Government and the UK Treasury.

((2) Massive ongoing windfall benefits to the UNITED STATES Treasury given that it will also receive a cascade of tax accruals from this independent private sector Refunding Program.

(3) The necessary refinancing of the UK and US banking systems ON THE BOOKS with no input from either Government and NO CORRESPONDING DEBT CREATED IN THE BACKGROUND.

(4) GOOD (i.e., on-balance sheet, taxed) money which will CHASE OUT THE BAD MONEY that the crass US Fraudulent Finance concoction will generate.

• In mid-March we published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also published recently are issues of our titles The Latin American Times, Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs.

• For details, see the second white panel on the Home Page.

• To subscribe to our intelligence services, see the catalogue under World Reports Limited.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website. Also, the Editor’s study entitled The European Union Collective, which proves that the EU is a long-range strategic entrapment operation to reduce European countries to satrap status within a German empire using economic strategy for relentless economic warfare purposes, can be bought here.

• ADVERTISEMENT: Details of the Internet Security Solution software offered by this service in conjunction with a donation are appended at the very foot of this report, below the legal data. See also the catalogue by clicking on World Reports Limited and scrolling down to the bottom.

• DONATIONS: You can help finance these exposures (which the Editor has to prepare on top of his normal publishing responsibilities) by sending us a donation. Press Make a Donation, which is live, and it takes you straight to our ultra-safe ordering system, which accepts Visa and MasterCard.

By Christopher Story FRSA, Editor and Publisher, International Currency Review and associated intelligence publications and information services. See this site for details and ordering facility.

• CORRESPONDENCE TO THE EDITOR: We routinely, automatically DELETE all emails which OMIT any element of the requested coordinates. We are not prepared to deal with anonymous spooks and other cowards who are too scared to provide their coordinates, for identification.

NEW REPORT STARTS HERE:

WORLD COURT ENFORCEMENT PERSONNEL ARRIVE IN U.S.
At 1:50pm on Thursday 30th April we established that a contingent of heavy-duty enforcement personnel reporting to and representing the World Court and the Group of Ten financial powers have been operating in the United States since Monday 27th April. Their duty is to enforce the requirements of a writ, believed to have been dated 1st April, immediately ahead of the Group of Twenty (G-20) meeting in Canning Town, London, on 2nd April 2009, and which would have been deposited with the Meeting and served on President Obama in particular.

This may have been the origin of the story that Obama wouldn’t be attending the G-20 Meeting, and would be visiting the Tower of London instead, as a tourist – the cynical purpose of this tale being to signal to the foreign governments concerned that Obama wasn’t about to make himself available to accept service of the writ.

After second thoughts, presumably his arrogant entourage would have advised him: ‘Not to worry, you needn’t pay attention. Let them serve the writ’ (speculation on our part).

• Furthermore, we have just been told that President Obama is blocking the Settlements and that he himself has no intention of ever allowing them to occur. However this has been authoritatively dismissed as Bush Sr. disinformation propaganda, although it HAS become known that Mr Obama takes his orders directly from Bush Sr. Somehow, we DO NOT THINK THIS IS A VIABLE SITUATION.

Obama is also cited as having told the World Court that it is bought and paid for, so he needn’t pay attention to what it requires. By the same token, Obama is also authoritatively said to have told the Congress that it, too, is bought and paid for.

• However, again, our sources state emphatically that the appropriate law enforcement cadres DO NOT CONCUR, and that the Settlements WILL HAPPEN, and this this obstruction will be overcome.

From what we understand, a lot of very prominent people are in for a rude awakening.

STATE OF EXTREME, UNPRECEDENTED TENSION
For the situation has now reached a pitch of extreme tension, given that execution of the writ requires its demands to have been met by 1st May – which is of course the Feast of Beltane, the Number One World Revolution esoteric date, when misled, brainwashed nutcases dressed up as Druids assemble at Stonehenge to worship the devil, or figments of their own imaginations, while deluded revolutionary cadres around the world celebrate ‘the onward march of the Revolution’.

SPLIT WITHIN THE RANKS OF THE WORKERS OF DARKNESS
But what we are witnessing is of course a massive split within the ranks of the demented Luciferian protagonists of revolutionary action through corruption, because, since the Devil is the author of all lies and confusion, these people are all at loggerheads with each other in multiple dimensions – having, of course, been stealing money from each other and perpetrating grotesque abuses which not even their own evil allies can tolerate.

This will explain why, paradoxically, the sense is that the criminal group that is holding the whole world to ransom, headed by George H. W. Bush Sr., has gone too far even for ‘underworld’ and banking sector compartments previously considered to be its allies and fellow-travellers.

Which should not surprise any of us at all, and should also serve as a warning to those who persist with the erroneous belief that the Revolution cannot be stopped and that the worst outcomes (of which innumerable terrible scenarios are painted and repainted daily) are inevitable.

THEY ARE NOT, and both the exposures to date and their consequences should have made this plain enough by now. Far from being inevitable, the World Revolution is COLLAPSING.

ENFORCEMENT OF THE WORLD COURT’S WRIT IS MANDATORY
So what is happening ‘as we speak’? According to our sources, the heavy enforcement personnel (referred to as ‘the Swiss’) are REQUIRED to procure the demands set out in the World Court writ: that is to say, they have UNLIMITED POWERS TO EXECUTE THE WRIT and may use all means at their disposal to satisfy it. Nothing, we understand, is excluded in this context.

TRILLIONS OF DOLLARS STOLEN BY BUSH 41 AND 43 RETRIEVED
So far, we understand that:

• The World Court enforcement personnel (‘bailiffs’ with powerful backup’) have retrieved SEVERAL TRILLION DOLLARS STOLEN BY CRIMINAL U.S. PRESIDENTS BUSH 41 AND BUSH 43.

• They have presided over a wave of arrests all round Europe.

• They are poised to effect further arrests all over America, taking place in real-time now.

• They have powers to arrest holders of the highest offices INCLUDING THE U.S. PRESIDENT AND THE VICE PRESIDENT if they get in the way of execution and implementation.

• Interference or resistance to the will of the foreign governments as demanded by the World Court on their behalf, whether by the President of the United States or by any other holder of high (or any) office under the United States, will represent OBSTRUCTION OF JUSTICE, against which the enforcement team have power to retaliate in decisive fashion.

• The team may be entitled to deploy force to achieve their objectives: as indicated above, they can use ANY MEANS to enforce the World Court’s demands on behalf of foreign Governments and sovereign powers who have been defrauded by the United States Government.

• As also indicated above, they are NOT in a position to report back to the World Court that they have been unable to procure satisfaction of the requirements of the Court’s writ, or else the personnel THEMSELVES will be arraigned for OBSTRUCTION OF JUSTICE.

• Therefore, failure to implement the will of the wronged Governments as specified by the World Court’s Writ of Execution, is NOT AN OPTION.

OBAMA WHITE HOUSE ADVANCE TEAM RESPONSIBLE FOR ‘FLU OUTBREAK?
The Washington Post reported at 1:54pm Thursday that a member of the Security Advance team for President Obama’s recent trip to Mexico is suspected of having contracted swine ‘flu.

The Security Advance Team is part of Homeland Security which took over the Secret Service under former criminal President George W. Bush.

The obvious deduction is that this operative may have been handling the phial containing the swine ’flu pathogen, and that it was released in Mexico by the President’s personnel in advance of the President’s visit to Mexico – so that the resulting epidemic or much worse would appear to have originated in Mexico, whereas, as we asserted in the report dated 29th April, the laboratory-developed disease will have been developed at the Army Medical Command, Fort Detrick, MD.

This UNPRECEDENTED SCANDAL means that President Barack Obama, or the Bush-Clinton criminal gangsters, or all of the above, have deliberately unleashed one of the blackmail weapons that they have held up their sleeve in order to blackmail the US Government, the American people and the Rest of the World, should they find themselves up against a steel wall, as is now the case.

Thus criminal forces within the American Government are waging not just economic and financial terrorism against Americans and the Rest of the World, but BIOLOGICAL TERROR as well.

Either Obama will have to clean out the White House and his Cabinet forthwith, or he himself will be removed, by whatever means, or will find that the outcry is such that he has to leave office.

The international repercussions from this development will be COLOSSAL.

A senior British intelligence source cited by a correspondent is reported to have warned that this criminal group would perpetrate bio-attacks around the world, and that, as a consequence, millions of people would die. This intel source did not convey any such assessment to us, but then British intelligence doesn’t talk to us directly at all.

[On the contrary, MI6 attempted in 2004, through the veteran journalist Gordon Thomas, to deflect the Editor from pursuing these enquires, accompanied by threats of some trumped-up exposure or other which had already been disseminated to the UK ‘mainstream’ press. In response, the Editor published the entire text of the threatening conversations with Mr Gordon Thomas in our financial journal, which was the last that was heard of this operation. Since then, the Editor has been very conspicuously barred from the British media. But the consolation prize is that the readership of this website exceeds the entire readership of all British newspapers combined].

CRIMINALS OPERATING INSIDE THE U.S. GOVERNMENT ARE WAGING BIO-TERRORISM AGAINST THE AMERICAN PEOPLE AND THE REST OF THE WORLD FOR SELF-ENRICHMENT
Whichever way this unfolds, there is NO DOUBT now that the ‘pig ’flu’ outbreak is DIRECTELY CONNECTED with the criminal finance crisis which has come to a head this week as explained above. BEFORE we were aware of this Washington Post report, the following text had been prepared for this posting:

Against this background – none of which has been denied by knowledgeable sources with whom the data was checked – we now have no doubt whatsoever that the ‘Pig ‘Flu’ outbreak represents a deliberate bio-attack perpetrated by this criminal group. It is exactly as we perceived: CORNERED, they are unleashing, or threatening to unleash, the hideous weapons with which they have been BLACKMAILING the US Government, the American people, and the rest of the world.

We wouldn’t be surprised if it turns out that the ‘nukes in a suitcase’ bravado is part of the same armoury of blackmail weapons that this criminal gang has been holding in readiness, and which it has been using to prevent what needs to be done to cauterise this virus of criminality from the body of humanity. However the showdown is taking place, and the gang can’t stop it now.

If this is correct, then the US law enforcement community needs to understand that the blackmailer is always in a weaker position than the blackmailed. The reason for this simple reality is that once the blackmailer’s bluff has been called, he has ‘blown it’.

True, this criminal gang may have several layers of blackmail weaponry in their armoury. But the answer to that is that if their bluff is called with respect to the first blackmail layer, they will have been defeated before they can activate the second, escalated, blackmail dimension.

In any case, refraining from picking up these people because their blackmailing power is feared, represents OBSTRUCTION OF JUSTICE by law enforcement, including of course those elements referenced immediately below.

DISINFORMATION SPREAD BY U.S. LAW ENFORCEMENT
Separately, it has been stressed, correctly, elsewhere that ‘Black’ disinformation has been liberally disseminated by the ‘three-letter people’. The reason for this is that the head of that sub-snake is up to beyond his eyebrows in this criminal finance activity. The entire institution, a key component of US law enforcement, has therefore been compromised, which goes a very long way to explain why the US criminal gangs have not been brought down earlier.

We received several reports late on 29th April to the effect that Trustees and their lawyers had diverted paid-out funds to their own or separate accounts, although this corrupt practice has been ongoing for a long time. No doubt these people will be picked up in the prevailing sweep and will wind up contemplating, for 25 years, the life-cycles of the North American or European cockroach: if they survive, that is. And that, we suspect, is now very far from certain.

• It’s showdown time, big-time.

POSTSCRIPT: MORE ON OBAMA’S REMOVAL OF JESUS SYMBOL
In the report dated 29th April, the Editor has inserted a new segment concerning what happened when President Obama gave a speech at Georgetown University on 14th April. We are leaving the text in that report unchanged, but since posting it we have received photographs of the platform in the Georgetown University hall where Obama delivered his speech.

Behind the platform is a tableau with a triangular carved wooden headpiece which forms a focal point for the hall. Within the triangular surface delineated by the headpiece is the Christian symbol IHS painted in gold, with a cross rising above the H. This is a standard symbol used for centuries.

The Editor has before him a colour photograph of the platform with this carved wooden focal point, which contains, below the superstructure, the name Georgetown University and some other inscriptions not relevant to this commentary.

Also on the Editor’s desk is a second colour photograph showing the carved wooden headpiece with the gold-painted IHS blacked out, the entire area facing the hall being now entirely black.

The source who provided this information and photographs, is of impeccable credentials, integrity and standing, and the foregoing information is accurate. It seems that President Obama did not wish to be televised beneath the well-known symbol, traceable to the early Christian era, of Jesus Christ. You may draw your own conclusions.

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

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• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

The premium contains a donation for our exposure work and also covers our recommendation based on the Editor’s own experience that this INTERNET SECURITY SOLUTION will make your Internet life much easier. Some versions have a ‘Preview before downloading’ feature.

*VISTA: Virtual Instant Surveillance Tactical Application.

OBAMA PREFERS ‘TRASHETS’ OVER DEBT-FREE SOLUTION

STABILISATION WITHOUT DEBT TO BE HANDLED FROM LONDON

Tuesday 14 April 2009 14:00

UPDATE, 22nd April 2009:

‘SUDDEN DEATH SYNDROME’:
WELCOME TO THE THIRD CLINTON (MURDER) ADMINISTRATION

The sudden death of the 41-year-old Chief Financial Officer of Freddie Mac, reported this morning, should serve as a wake-up call for all those, including the delegates and media people attending the Spring Meetings of the International Monetary Fund and the World Bank this week/weekend, who have been naively and stupidly handling the global financial crisis as though this is some kind of technical glitch, rather than facing up to the central reality:

• THIS IS A CRISIS BROUGHT ABOUT BY RELENTLESS CRIMINAL FINANCIAL CONDUCT.

• And it’s being covered up with violence (very badly).

The Clintons, working with Bush Sr. and Greenspan (concerning which sorcerers more is pending), are in the driving seat: and because these operatives have been stealing, stealing, stealing, they cannot stop, since they have to keep covering up their past thefts, murders and related crimes.

So the cat is now well and truly out of the bag. THIS IS THE THIRD CLINTON ADMINISTRATION, and Obama is just one voice in a murderous criminal enterprise now run by Vice President Biden, who is in charge of the National Security Council (NSC) which tells the President what to do.

Vast sums of money have been stolen and these are the criminal operatives, working for their own self-enrichment and to sustain the illicit supremacy of the US Intelligence Power, a.k.a. the ‘State within the State’, a.k.a. the CIA, who are responsible for the ransacking and for the corruption of the international financial system, the banks and the intergovernmental institutions. Moreover the core corrupters have been joined of late by certain other personnel, as will shortly be revealed.

Their desperation is such that they couldn’t care less about the uproar that was bound to ensue from this latest Clintonesque ‘suiciding’. Furthermore the explanation for recent blatant actions by Bush Sr. and Greenspan is precisely that the Clintons are in the driving seat, with Biden in charge of the NSC: so they think they have total immunity, even though both are under indictment!

We were warned over a year ago by a ‘former’ US operative that the post-Bush II Administration would be worse than its predecessors: the only prediction that he omitted, was to confirm that life after Dubya would be CLINTON ADMINISTRATION #3.

This is the WORST OF ALL POSSIBLE WORLDS:
IT MEANS WALL-TO-WALL CORRUPTION, MORE MURDERS, MORE UNSPEAKABLE CRIMES, AND THE FURTHER RELEGATION OF THE UNITED STATES TO PARIAH STATUS.

• That’s how we and others are looking at the ‘whacking’ of the Freddie Mac CFO.

• NOTHING will be remedied UNTIL THESE CRIMINALS ARE DEALT WITH. How can a corrupted financial system be repaired when the crooks who destroyed it are STILL running the show?

• Journalists who sidestep this issue because they haven’t got the guts to speak the truth or because they quiver in awe of their weak or controlled Editors, need to ask themselves:

• Am I doing my job , or am I just a prostitute?

• STANFORD FACT: A Bloomberg report by Alison Fitzgerald and Michael Forsythe dated 16th April on the Stanford blow-out, contains, in its final paragraph, on the seventh page of this long report, the following reference: ‘Kevin Sadler, a lawyer with Baker Botts LLP in Austin, who represents the [Stanford] receivership…’. So, right at the end of the report lurks the most important fact of all: the receivership is in the hands of the Bush Crime Family’s TOP FIXER, James A. Baker III. The fox is calling the shots, rearranging the chickens.

• The rest of the article is very interesting: But not as interesting as:
THE ONLY FACT IN THE REPORT OF ANY SIGNIFICANCE, THE ONE AT THE END.

•ACHTUNG! Overnight 13th/14th April we received a large number of emails and some phone calls, all from the United States, indicating that www.worldreports.org was ‘down’ for a period and could not be accessed. We are very grateful for your emails and diligence! We have now (as of 1:30pm UK time on 14th April) checked every single word, on the assumption that there may have been some interference to the text originally published in International Currency Review, Volume 34, #2, from the NSC, and we find that no alterations have been made.

This is a SECOND post of the same report posted on 13th April. You can tell the difference by the single word-change in the title, which now reads: OBAMA PREFERS ‘TRASHETS’ OVER DEBT-FREE SOLUTION. Thus, if there’s further nonsense, they’ll know that we are capable of restoring the text exactly as before, so intereference is a waste of their time and everyone else’s.

•FURTHER ACHTUNG! Our website and communications were attacked by ‘the enemy’ AGAIN on 22nd April, for about two hours. This offensive activity by NSC/NSA is ILLEGAL. Our IT people are smart and have fixed the situation. Each time these idiots do this, they send a signal to MILLIONS around the world that we are telling the truth and that they don’t like it. They need brain surgery.

• Plus, every time they do this, they gratuitously signal that we’ve hit a bulls’eye.

Also, the ‘serious situation’ notice indicating a certain problem thought to have arisen because of US official anger at our work, was MIRACULOUSLY resolved in the course of this Monday, after that notice was added. We have left the notice in THIS report, with an additional sentence to that effect.

OUR REPORT DATED 14TH APRIL 2009 WHICH IS VERY IMPORTANT, NOW STARTS HERE:

• Operating the $ Refunding from London without US Government participation delivers:

(1) Massive ongoing windfall tax accruals to the BRITISH Treasury given that all funds resident in the United Kingdom jurisdiction for 24 hours are taxable by the Inland Revenue. This makes the UK Refunding proposal of extreme interest to Her Majesty’s Government and the UK Treasury.

((2) Massive ongoing windfall benefits to the UNITED STATES Treasury given that it will also receive a cascade of tax accruals from this independent private sector Refunding Program.

(3) The necessary refinancing of the UK and US banking systems ON THE BOOKS with no input from either Government and NO CORRESPONDING DEBT CREATED IN THE BACKGROUND.

(4) GOOD (i.e., on-balance sheet, taxed) money which will CHASE OUT THE BAD MONEY that the crass US Fraudulent Finance concoction will generate.

• WHITE HOUSE WILFULLY REJECTS SOUND FINANCE IN ORDER TO RETAIN CONTROL

• GRIEVOUS DISPLAY OF ARROGANCE AND TREASON AGAINST THE AMERICAN PEOPLE

• PRIVATE SECTOR REFUNDING WITHOUT OFFICIAL INVOLVEMENT IS THE ANSWER

• NEW GENERATION OF LETHAL ‘ASSETS’ (‘TRASHETS’) TO BE UNLEASHED ON THE WORLD

• GEITHNER-SUMMERS’ FRAUDULENT FINANCE GENERATES HUGE UNNECESSARY DEBT

• THE ESSENCE OF THE OBAMA WHITE HOUSE’S DE FACTO FINANCIAL TERRORISM EXPOSED

NAVIGATING THIS REPORT:

(1) PRIVATE SECTOR REFUNDING METHOD THAT YIELDS TAXABLE REVENUE AND NO DEBT

(2) ERRONEOUS AND OBTUSE FORMULA THAT CREATES COLOSSAL UNNECESSARY DEBT

(3) BY DEFINITION, THE PRIVATE SECTOR PRODUCES TAXABLE REVENUE

(4) THE PUBLIC SECTOR CAN ONLY PRODUCE MORE AND MORE DEBT: IT CAN’T TAX ITSELF

(5) U.S. FINANCIAL GURUS ‘COMING LATE TO THE PARTY’ ARE PICKING AT YOUR CORPSE

(6) SCANDALOUS OBFUSCATION OF FRAUDULENT FINANCE BY THE G-20

(7) OBAMA WANTS TO PROCEED WITH A NEW GENERATION OF FRAUDULENT FINANCING

(8) OBAMA THEREFORE APPEARS TO HAVE DOUBLE-CROSSED THE QUEEN

(9) THE MEETING AT THE HIGHEST LEVEL IN LONDON ON 1ST APRIL 2009

(10) KICKING AGAINST THE PRICKS: WHAT WASHINGTON INTENDS TO DO NOW

(11) WAVE OF FRAUDULENT FINANCE WILL GENERATE REVENUE AT HUGE COST

(12) THE REAL MOTIVE: THE CROOKS ARE TERRIFIED OF LOSING CONTROL OF TRADING

• THE LEGALISATION OF FINANCIAL CORRUPTION

• REASON FOR PRESENTING THIS ANALYSIS

• CHAPTER ONE:
THE LEGALISATION OF FINANCIAL CORRUPTION:
THE CREATION OF SECURITISATION AND CREDIT DEFAULT SWAPS

• CHAPTER TWO:
THE LEGALISATION OF FINANCIAL CORRUPTION:
DESCRIPTIONS OF THE RESULTING FINANCIAL FRAUDS AND SCAMS

• DESCRIPTIONS WITH CHARTS OF DERIVATIVE SCAM METHODOLOGY

• FOR FURTHER INFORMATION ABOUT THE LEGALISATION OF FINANCIAL CORRUPTION, PLEASE ADDRESS ENQUIRIES TO OUR ADVISER, THE U.S. SECURITIES EXPERT MICHAEL C. COTTRELL, B.A. M.S. ON 814-455 9218, as he is the source for the historical, technical and related intelligence in this report. The information contained herein was first published in International Currency Review, Volume 34, #2, in March 2009. When calling Michael Cottrell, full identification must be given. Without full identification, calls will not be taken. Email: pii-mcc@msn.com.

•The central issues raised in this report are the issues that MUST be addressed at the imminent IMF/World Bank Spring Meetings to be held in Washington, DC, concluding on 25th-26th April.

• In mid-March we published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also published recently are issues of our titles The Latin American Times, Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs. For details, see the second white panel on the Home Page.

• To subscribe to our intelligence services, see the catalogue under World Reports Limited.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website. Also, the Editor’s study entitled The European Union Collective, which proves that the EU is a long-range strategic entrapment operation to reduce European countries to satrap status within a German empire using economic strategy for relentless economic warfare purposes, can be bought here.

• ADVERTISEMENT: Details of the Internet Security Solution software offered by this service in conjunction with a donation are appended at the very foot of this report, below the legal data. See also the catalogue by clicking on World Reports Limited and scrolling down to the bottom.

• DONATIONS: You can help finance these exposures (which the Editor has to prepare on top of his normal publishing responsibilities) by sending us a donation. Press Make a Donation, which is live, and it takes you straight to our ultra-safe ordering system, which accepts Visa and MasterCard.

• VIRTUAL REALITY VERSUS REALITY:
Many Internet users do not seem to understand that a huge ongoing mind-control and influence-building offensive (Operation Mockingbird Mark II) has been mounted against the American people by the controlling Intelligence Power, which is a key instrument of the World Revolution. This evil operation has been running and corrupting for many years.

At least 60 US websites pump out or elaborate unprovenanced ‘virtual reality’ into which the nefarious Intelligence Power and its key operatives headed by George Bush Sr., can insert their chosen lies ‘du jour’. The purpose of the incessant barrage of lies, diversions, agitation and poisonous hate propaganda and other manifestations of this elaboration of the art of Dr Josef Goebbels, is to cover up the colossal catalogue of crimes that these agents of the Intelligence Power and their corrupted financial sector associates at home and abroad have perpetrated and continue to commit against the American people and the Rest of the World.

One technique used by this counterintelligence apparat is to intermingle serious analysis with New Age drivel and MK-Ultra-style mental manipulation designed to waylay those who have no sound grounding in faith and who drift in the wind, like the 19th century British Prime Minister Lord North, who was known as ‘the cushion’ because he resembled the shape of the last person who sat on him. Although we make no claim to infallibility, unlike the Pope, this service is not engaged in the devious and reprobate promulgation of virtual reality, which the targeted population is meant to confuse with reality. We focus instead on the truth as perceived to the best of our ability at the time of posting, however uncomfortable that may be for the crooks exposed in the process.

This does not mean to say that we are not from time to time deceived, like everyone else, by these odious liars and deceivers: but our focus at all times is on truth. We play no mind games, like these unspeakable reprobates, many of whom are paid to confuse, redirect and deceive.

And finally, this is done not because it is enjoyable, but so that the Editor can at least say to his daughters and their families: I tried to make the world a better place. In this connection, a Rabbi friend of the Editor told him once that his Jewish teaching is that ‘you are required to try, but you are not expected to finish’. Christians are required to finish: so we will continue the fight.

• A VERY SERIOUS SITUATION AFFECTING THE EDITOR OF THIS SERVICE IS PENDING BEHIND THE SCENES. Unless this matter (which we cannot go into right now) is resolved in short order, the unintended consequence will necessarily be a serious escalation of the exposures, which all the official parties concerned can avoid if they behave sensibly. At the moment there appears to be a stand-off. But the Editor will be placed in an impossible position if the wrong decision is taken.

• The matter referenced above was MIRACULOUSLY resolved on Easter Monday!!!!!

By Christopher Story FRSA, Editor and Publisher, International Currency Review and associated intelligence publications and information services. See this site for details and ordering facility.

• CORRESPONDENCE TO THE EDITOR: We routinely, automatically DELETE all emails which OMIT any element of the requested coordinates. We are not prepared to deal with anonymous spooks and other cowards who are too scared to provide their coordinates, for identification.

• The CONTACT US facility is found in the red box throughout this combined website.

NEW REPORT STARTS HERE:

(1) PRIVATE SECTOR REFUNDING METHOD THAT YIELDS TAXABLE REVENUE AND NO DEBT:

For longer than we can remember we have been pointing out that THERE IS A SIMPLE, STRAIGHTFORWARD, TRANSPARENT SOLUTION to the financial crisis.

For longer than we can recall, we have stressed that the decisions taken by the former Bush II Administration via the corrupted Treasury headed by that criminal financier Henry M. Paulson Jr., and the new even more convoluted decisions taken by the Geithner Treasury, are THE REVERSE OF THE SAID SIMPLE, STRAIGHTFORWARD SOLUTION to the financial crisis.

The Obama Administration and the Geithner Treasury have leveraged the Fraudulent Finance formulae developed under the corrupt Paulson Treasury, with the same objective:

• To reignite and reboot the moribund Fraudulent Finance derivatives ‘Structured Products’ Ponzi parallel financial system, also known as a colossal BANKER’S RAMP, that was closed down between 10th and 12th September 2008 as reported by this service, when the $14.0 trillion was placed out of these criminal operatives’ reach.

Given the above, it follows that this obtuse attempt to continue the Ponzi Fraudulent Finance represents a US NATIONAL SECURITY ISSUE and should be addressed as such.

Let’s not mince words here:

• Continuing with the Fraudulent Finance formulae concocted by the US Treasury and the Federal Reserve presents a grave threat to the stability, prosperity and the future of the Republic: and all concerned with this cynical rearguard operation to revive the collapsed derivatives sector should be handled with the severity reserved for them under the Patriot Acts, that lay down definitions of ECONOMIC AND FINANCIAL TERRORISM, which is what these people are perpetrating.

(2) ERRONEOUS AND OBTUSE FORMULA THAT CREATES COLOSSAL UNNECESSARY DEBT:

It is possible, but unlikely, that the President of the United States has not understood this. So let us, once again, explain where his perverse advisers have led him astray.

• FACT: The TRUTH is always simple. LIES are always complex, and become ever more so because successive lies have to be perpetrated in order to buttress the earlier lies. A policy built on lies will COLLAPSE. Like plutonium, lies have a half-life: they decay.

• As will be seen below, derivatives are so complex that no-one can understand what is going on: which is the WHOLE POINT. They’re based on LIES. They are FRAUDS.

• SUCH A STRUCTURE IS LIKE AN INVERTED PYRAMID:
As the original lie at the base of the inverted pyramid decays, fresh lies have to be invoked, like scaffolding, to prop up the earlier lies. Eventually, as the lies proliferate, the scaffolding of lies which is underpinning the inverted pyramid on either side becomes unstable, too, and eventually the entire structure collapses.

• Obama therefore faces, sooner rather than later, the absolute collapse of the pyramid of lies and diversionary financing deceits that his wilfully misguided colleagues and advisers have fed him.

So let us reiterate the SIMPLE TRUTH that the President needs to UNDERSTAND:

(3) BY DEFINITION, THE PRIVATE SECTOR PRODUCES TAXABLE REVENUE:

Here are the basic economic FACTS of the matter:

• By definition, the private sector generates REVENUE which the Government TAXES.

• It follows, therefore, that the SIMPLE SOLUTION to the entire crisis is to ALLOW THE PRIVATE SECTOR to recoup the situation using the financial trading techniques that have hitherto been used clandestinely and corruptly and which the criminal financiers want to continue undertaking below the radar so that they don’t have to pay tax.

• These trading techniques are NOT ILLEGAL. However they become illegal when performed clandestinely, with the proceeds held UNTAXED, off-balance sheet, and placed in secret offshore accounts. In other words, when combined with TAX EVASION, they become illegal.

• So the simple, straightforward, transparent ANSWER to the crisis is crystal clear. PRIVATE SECTOR trading on-balance sheet yielding WINDFALL TAXABLE REVENUES should proceed immediately, and should have started up in June 2007 after the Group of Seven Financial Powers agreed in northern Germany that this was the way forward, reapproving this solution in 2008.

• FACT: By blocking this SIMPLE, STRAIGHTFORWARD SOLUTION – the Refinancing Programme – the Bush Administration compromised the national security of the United States, committed treason against the Republic and its people, and engaged in ECONOMIC AND FINANCIAL TERRORISM.

The Obama Administration is continuing down the same futile path, and since it has the appalling example of its predecessor to contemplate, it should know better. So it is compounding the errors of its predecessor régime, and is likewise committing ECONOMIC AND FINANCIAL TREASON by choosing the PERVERSE ROUTE, and failing to apply THE CORRECT SOLUTION.

(4) THE PUBLIC SECTOR CAN ONLY PRODUCE MORE AND MORE DEBT: IT CAN’T TAX ITSELF:

By definition, the public sector generates DEBT. The public sector PRODUCES NOTHING and so, by definition, cannot generate revenue. It CANNOT TAX ITSELF, except through its payroll taxes. Since it cannot generate REVENUE, it relies on the taxpayer, on the creation of debt and also on printing money to finance its endlessly permissive operations.

• Therefore, the convoluted inventions of the Geithner Treasury and of the Bernanke Federal Reserve to reboot the derivatives sector represent perverse ARTIFICIAL CONSTRUCTS which, by definition, generate DEBT, not REVENUE. THIS IS ENTIRELY UNNECESSARY: see above.

• To embark upon complex Fraudulent Financing operations under the cover of ‘stimulating the economy’ but in reality, in order to revive the derivatives sector which has collapsed – and which is now widely understood to represent a MONUMENTAL FRAUD given that the so-called ‘Structured Products’ generally have NO RECOURSE to the underlying original source of funds – is to engage wilfully in FINANCIAL TERRORISM against the American people and the Rest of the World.

• Now as we have all observed, the Obama Administration thinks it can continue down this path. We have news for this President’s headstrong ‘experts’. Your tired formula is rotten and it will collapse. There are liable to be few takers for your artificially revivable fraudulent ‘assets’ scheme; and although you have wrapped your criminal intentions in a dense fog of complexity consistent with the pack of barefaced lies that you are marketing, you are trying to build your house on sand.

As you have already doubtless observed, you can’t even build the house, because the foundations are sinking into the sand before you even start bricklaying.

• So, if President Obama prefers for his Administration to run into the sand, by all means carry on! Just keep going with this revamped Fraudulent Finance formula, and see where it leads you. You are collectively as arrogant and perverse as your predecessors: and you doubtless imagine that because you think ‘they got away with it’, you will too.

WRONG! You are careering towards DISASTER.

• Since you know perfectly well what the CORRECT SOLUTION is, but are simply UNWILLING TO PURSUE IT, you cannot escape condemnation as perverse perpetrators of Financial Fraud and Economic and Financial Terrorism. It’s not as though you are ignorant. Not at all. We know for a fact that you are aware that the CORRECT SOLUTION is to proceed with the trading in the private sector without Government involvement, and to tax the resulting REVENUES, which will finance the entire Obama Programme, with money to spare – creating NO DEBT in the process.

• TO REPEAT: By NOT pursuing this course, you are explicitly and wilfully engaging in Economic and Financial Terrorism. You may believe that the people don’t yet ‘get this’. But believe us, they will, they will. And when they do, those lamp posts that your friend George Bush Sr. spoke about, may be used for ‘other purposes’.

(5) U.S. FINANCIAL GURUS ‘COMING LATE TO THE PARTY’ ARE PICKING AT YOUR CORPSE:

As mentioned in the preceding report, it has been our experience over decades that after we have stuck our necks out and our predictions are seen to have been correct (which is simply a question of making sure that one is following the relevant threads, and not blindly running after diversions), prominent economists, Nobel Laureates and other members of the community of the ‘Great and the Good’ pile in and ‘reveal’ the realities that we have previously exposed.

A number of these fragrant characters – Messrs Stiglitz, Black and Sachs, for instance – are at this time engaged in precisely such ‘revelations’, although NONE of them are stating what needs to be said: namely that you are promoting the doomed legalisation of Fraudulent Finance. For whatever reason, such people can’t bring themselves to employ the word: CRIMINAL.

But you can disregard almost every word they publish! Because what they are doing is criticising and pulling apart Geithnerism-cum-Bernankeism, which is a completely sterile activity! Geithnerism doesn’t need to be pulled apart because it’s irrelevant: it is going to collapse and the whole of the financial world knows it. And is rightly terrified that it will.

• And have these prominent ‘Establishment’ economists yet come up with the alternative
(there’s only ONE alternative)?

• Correct: They have NOT. What Stiglitz, Black and Sachs OUGHT all to be promulgating now is the CORRECT SOLUTION outlined above: Transparent, on-balance-sheet, fully taxed, visible trading operations in the private sector, generating ONGOING REVENUE – with the Government OUT OF IT ALTOGETHER and just raking in the windfall TAX REVENUES.

Instead of rabbiting on about the intricacies of Geithnerism, writing convoluted articles which make them look good but which go nowhere, they should be applying their acquired influence to FORCE this Government onto the right track. Yes, that would mean demanding the sacking of Geithner and Summers and placing Bernanke on notice that he must do what the President demands, or else.

And of course this all presumes that we have a President who knows what he is doing and wants to do the right thing, which are pretty tall assumptions but have to be made here for the sake of this argumentation – even though the President now appears to have lied to and double-crossed The Queen [see below] and is intent on going on with a false revival of the derivatives carousel.

(6) SCANDALOUS OBFUSCATION OF FRAUDULENT FINANCE BY THE G-20:

We always thought that the purpose of suddenly elevating the Group of Twenty to idolatry status was actually a device to diminish the importance of the Group of Seven (G-7), for the SPECIFIC purpose of smothering the G-7-Approved Refinancing Programme of transparent on-balance-sheet trading operations yielding taxable REVENUE without Government involvement.

And so it has proved – since, as noted in the preceding report, the G-20 Communiqué made NO MENTION of derivatives, Structured Products, Fraudulent Finance, Ponzi schemes, and all the other aberrations – assuming that the Press Room would buy this omission without comment.

Well, the Editor, who didn’t waste time attending the London Canning Town circus, turned out to be the ONLY COMMENTATOR, until The Times woke up the following Monday, to have NOTICED that there was NO MENTION of the underlying Fraudulent Finance causes of the crisis whatsoever.

• Which means that, since Gordon Brown organised the circus, and was therefore in a position to lay down what would be expected from it, he may be a direct participant in this deception and fully supports the continuation of the Fraudulent Finance rather than the implementation of the G-7 transparent DEBT-FREE Refunding Programme, which is the sole SOLUTION to the crisis.

(7) OBAMA WANTS TO PROCEED WITH A NEW GENERATION OF FRAUDULENT FINANCING:

Having returned home from his eight-day tour, to attend a Jewish Seder in the White House (the first time this has ever occurred), President Obama will proceed now with the PERVERSE COURSE.
Specifically, it is intended to standardise the derivatives default price and to proceed with the new derivatives trading platform based on the obtuse Geithner-Summers formula, with the following Economic Terrorism objectives:

• To suck every available good dollar out of unwise, reckless and short-sighted investors.

• To enable Carlyle and Carlyle Capital, for the Bush-DVD Crime Nexus, to extract their profits.

• After which there will be another COLLAPSE, probably within a year or even within six months [see below] which will be FAR, FAR WORSE than what has been experienced to date.

This is what the Obama Administration is going to do. That is their mad, reprobate intention.

(8) OBAMA APPEARS THEREFORE TO HAVE DOUBLE-CROSSED THE QUEEN:

We have been advised by UK sources who know the score that President Barack H. Obama is absolutely not to be trusted. However because he is Head of State, and given that the Editor is a ‘foreigner’, we have bent over backwards to give this man the benefit of the doubt, even though it soon became apparent that things weren’t right: The Queen’s $52 billion of ‘guarantees’ were stolen, before being ‘restored’; and the $14.0 trillion was finally withdrawn as we reported, on 29th January, after it had become clear that the Obama Administration was intent upon pursuing the perverse course, rather than the Refunding Programme.

[Malicious counterpropaganda intended to create the false impression that the $14 trillion that we reference is another $14 trillion stolen or partly stolen by others, and that the $6.2 trillion element is the same as the stolen $4.5 trillion again referenced in the preceding report, is unprovenanced, confusion-building deception the underlying motives for which, if exposed, would compromise and expose many facets of this offensive to bamboozle compartmentalised cadres and other parties].

We did form the impression earlier that the diplomatic skills that our Head of State is known to be able to deploy, had yielded the mutually appropriate results. And as we now understand this fluid situation, President Obama is believed to have been told by the British Head of State that it would be enormously in the mutual interest to proceed with the on-the-books, transparent private sector revenue-generating Refunding Programme agreed to by the G-7 in 2007 and 2008. It is believed that he indicated that he would at least take notice of this request, but please review the greater detail below. We do not really know whether he signed anything meaningful at the G-20 jamboree, although we do know that he entered into commitments which he reneged upon the moment he arrived back home: all that is known is that after ranting about the ‘Deliverables’ being ‘mandatory’, President Sarkozy calmed down, implying that unspecified ‘sensible’ decisions had been taken.

But it would now appear that President Obama simply paid lip service to what The Queen will have told him, without having the slightest intention of actually paying any attention to what Her Majesty had said after leaving her presence. If that is not the case, there is no evidence to the contrary.

What we do know is that the White House was reported to us on 11th April 2009 to be ‘extremely annoyed’ (more colourful language being employed) that the CORRECT SOLUTION laid out by this service, which WAS discussed at the meeting between the two Heads of State, was even raised.

One can speculate as to the causes of such annoyance, and one can also speculate that the matter alluded to above concerning the Editor of this service is indeed CONNECTED to the fact that the CORRECT SOLUTION was raised at that crucial Heads of State meeting.

Such speculation would be along the right lines!

• Shortly after we posted the preceding report, which included the intelligence that President Sarkozy had threatened STASI-Chancellor Merkel with ‘elimination’ because she was blocking the releases on behalf of Bush-DVD, Merkel suddenly cut short her visit to Afghanistan.

Another interesting development is reported here: the Editor received an email from Beijing at 11:45pm on 9th April (UK time) from a known and reliable Spanish contact, containing the following information: ‘Just to let you know that it is not possible to read your website in Beijing, except in international hotels’. This implies that the Chinese Government may also consider that our direct assertion of the truth is too painful, even for them – notwithstanding the reality that the Chinese authorities are very assiduous subscribers to our financial journal, International Currency Review.

(9) SOLUTION: INDEPENDENT PRIVATE SECTOR TRADING PLATFORM FROM LONDON:

This leaves the proposal to operate the private sector Refunding Programme independently from London as the ONLY remaining way out of the catastrophe that the Barack Obama Administration is perversely rushing towards, with its determination to press ahead with the new Geithner-Summers Plan which, bless him, Jeffrey Sachs, Economics Professor at Columbia University and Director of the ‘Earth Institute’ (!!), said on 6th April is ‘even worse than we thought’ (sic!) [see below].

• TO REPEAT WHAT IS STATED AT THE TOP OF THIS REPORT:

Operating the $ Refunding ANYWAY from London without US Government participation delivers:

(1) Massive ongoing windfall tax accruals to the BRITISH Treasury given that all funds resident in the United Kingdom jurisdiction for 24 hours are taxable by the Inland Revenue. This makes the UK Refunding proposal of extreme interest to Her Majesty’s Government and the UK Treasury.

(2) Massive ongoing windfall benefits to the UNITED STATES Treasury given that it will also receive a cascade of tax accruals from this independent private sector Refunding Program.

(3) The necessary refinancing of the UK and US banking systems ON THE BOOKS with no input from either Government and NO CORRESPONDING DEBT CREATED IN THE BACKGROUND.

(4) GOOD (i.e., on-balance sheet, taxed) money which will CHASE OUT THE BAD MONEY that the crass US Fraudulent Finance concoction will generate.

As for Professor Sachs, and to give him his due, Sachs elaborated:

‘Cynics [NO: realists – Ed.] believe that the Geithner-Summers Plan is exactly what it seems: a naked grab of taxpayer money for Wall Street interests. Geithner and Summers argue that it’s the least bad approach to a messy situation, in which we need to restore banking functions but don’t have any perfect ways to do that [NOT TRUE: see above – Editor]. If they are serious about their justification, let them come forward to confront their critics and to explain to the American people why the other proposals are not being pursued. So far, Geithner and Summers tell us that their plan is the only option, but without a word of further explanation as to why’.

In other words, Geithner and Summers are liars because they BOTH KNOW that there is another solution – namely, the transparent on-the-books taxable revenue-generating agreed Refunding Programme MINUS Government, that they have explicitly rejected. They have rejected it because they are working to refund Carlyle and Carlyle Capital, of behalf of the corrupt Bush-Clinton Cabal, and to relieve foolish investors of every good dollar so as to enable these operations to extract their profits at the expense of the soon-to-be-scammed investors concerned, and the taxpayer.

And of course, Jeffrey Sachs himself hasn’t yet got round to putting forward the ONLY SOLUTION, outlined above – which is surprising, given that he is not unendowed with the requisite ‘smarts’.

If he doesn’t do so soon, we would be perfectly entitled to conclude either that he’s actually rather dense, or else that, like the rest of these people, he’s ‘part of the problem’.

(9) THE MEETING AT THE HIGHEST LEVEL IN LONDON ON 1ST APRIL 2009:

Although self-evidently we are not privy to what was discussed between the Monarch and the President of the United States, we know through several sources that the Refunding Programme which will generate TAXABLE REVENUE WITHOUT U.S. TREASURY DEBT, was discussed and that key names that you know about were mentioned in this connection. At the mention of these key names, President Obama backed off and MAY HAVE uttered words to the effect: ‘No, that’s not the way WE are going to do it’, while also indicating a commitment (note the two opposite stances) and demonstrating a complete change of attitude from one of confrontation to one of cooperation in response to The Queen’s remarkable genuine professional ability to charm.

Whether the President bad-mouthed the key US expert in question to The Queen cannot possibly be known, but it can be deduced from information received that he may well have done so. The name in question is not appreciated at the White House and the US Treasury, because he speaks the truth and because neither intend to proceed with sound finance. He is of course the expert whose work we reproduce from International Currency Review, Volume 34, #2, below.

If President Obama did bad-mouth Michael C. Cottrell, B.A., M.S., it had NO EFFECT! Otherwise the White House would not be ‘extremely annoyed’ ‘as we speak’, and nor would the issue concerning the Editor of this service have blown up (to be alaborated later, if there is no resolution).

The perverse and ruinous intention is to proceed along the Fraudulent Finance route, which will end very quickly in disaster and – here’s the Editor’s point – WILL TAKE THE BRITISH ECONOMY AND BANKS DOWN WITH IT. (Now you know why the Editor is involved in this battle).

As an outline, what appears to have occurred is exactly as was predicted earlier on this website:

• Obama arrives at Stansted under a cloud.

• Obama attends at Buckingham Palace for his one-on-one meeting with The Queen.

• At this meeting, the Refunding Programme as explicitly explained directly to The Queen’s advisers by the key US name in question through ourselves, is raised. Also mentioned is the second key US name whose reputation for integrity is likewise impeccable.

• In the course of the interview, Obama’s stance was transformed for the purposes of completing the meeting, from one of confrontation to one of intended cooperation, and various commitments may have been given. These commitments appear to have been false.

• Obama then proceeds on his travels from podium to podium, and on arriving back home, we understand, indicated that he intends to proceed along the disastrous course concocted by his top appointed officials and advisers representing Biden (the new Cheney), Cheney himself, Summers and Bush 41 – who, we know, specifically intervened in the evening of 9th April 2009, to stop the release process, AFTER a conversation between the Editor and Michael C. Cottrell, B.A., M.S.

In summary, the President of the United States gave certain undertakings at the highest level in the United Kingdom without having the slightest intention of honouring them, thereby making it evident in retrospect that he was not interested in the G-7-Approved private sector Refunding Programme, and would be proceeding along the disastrous route recommended by the Financial Terrorists and traitors to the United States and the American people who are jeopardising US National Security and either couldn’t care less, or don’t understand where they are going.

Which of course means that the situation, as stated in the preceding report, is now far more tense and dangerous than was the case prior to the G-20 watershed meeting at which these matters were supposed (ostensibly) to have been stitched up behind the scenes.

(10) KICKING AGAINST THE PRICKS: WHAT WASHINGTON INTENDS TO DO NOW:

The intention of these operatives, headed by President B. Obama with the full cooperation of the NYSE and ICE, is to re-start the collapsed Fraudulent Finance derivatives, in the expectation that some fools abroad will pile into this deceitful DEBT-GENERATING process, thereby fraudulently restarting the carousel – with a view to elevating the ‘Toxic’ or ‘Legacy’ ‘assets’ (which have NO RECOURSE to the underlying flow-of-funds and so are accordingly fundamentally fraudulent and worthless), highly desirable, and enticing imprudent institutional investors like pension funds and money managers in the municipal sector, as well as reckless banks and greedy private investors at home and abroad who are pready to abandon the Prudent Man Rule, into this poisonous bonanza.

Once Carlyle and Carlyle Capital et al have ‘revalidated’ the existing overhang (including double-counting) of between $600 and $700 trillion of fraudulent derivatives ‘assets’ (that is to saym have converted the current dead, moribund and worthless Ponzi derivatives into cash) – while having procured that foolish foreign purchasers, American pension funds, municipalities and banks have stuffed themselves to the gills with a brand new generation of even more worthless fraudulent Ponzi ‘assets’ than the previous lot – these fraudsters will be in a position to take down the entire system – whereupon they will be in a position to scoop up all the residual good assets and a few banks that they covet, achieving their revolutionary objectives by means of Fraudulent Finance.

For the immediate future, we know for a fact that none of those parties in the background in the United States who have been told what is happening, are paying any attention. Their eyes glaze over and they block their ears. They are indifferent to the fact that on the other side of the balance sheet, the US Treasury is to accumulate a vast, open-ended additional overhang of official US debt, which will burden future generations of Americans out to infinity.

• And because WE KNOW that they DO understand the logic of the G-7-Approved revenue-generating, debt-free Refunding Programme, these people, ALL OF THEM, can be accused of:

• Committing treason against the American Republic and People.

• Criminal co-conspiracy to defraud the portfolios of pension funds, municipalities, institutions and unwise investors at home and abroad on a monumental scale.

• Criminal intent to revalidate worthless assets that they know to be fraudulent by the usual Ponzi Scheme method of PULLING IN NEW MONEY, in exchange for which new, even more prospectively poisonous false derivative ‘assets’ will be stuffed into portfolios in the United States and abroad (if foreigners fall for this latest official American scam) which the foolish purchasers will be unable to dispose of in due course when the new generation of ‘trashets’, in turn, is found to be worthless both because they are intrinsically so, and because there will suddenly be no takers for this trash.

• Gravely compromising and jeopardising US National Security by criminally mortgaging the futures of generations of Americans through the deliberate creation of wholly unnecessary debt to finance this Fraudulent Finance to ‘restore’ value to the likes of Carlyle and Carlyle Capital, in accordance with the treacherous intentions of George H. W. Bush Sr. on behalf of the DVD (Abwehr), Dachau and its sentinel, the bribed STASI-Chancellor Angela Merkel.

• Gross dereliction of law enforcement duty in failing to take the severest measures against all those in plotting this outrageous escalation of US official scamming, which is intended to buttress the usurped control of the Intelligence Power over the Executive Branch of the US Government, as previously explained by this service.

• Recklessly sacrificing economic and financial stability for criminal purposes as described.

• Exploiting public office for the fraudulent and criminal purposes in question, including self-enrichment and the financing of ‘Black Operations’ in open defiance of the clear interests of the American people and of future generations of Americans.

• Engaging in these criminal acts in time of war, exacerbating the treason that they are committing.

• Openly engaging in gross acts of Economic and Financial Terrorism, as provided for in their own national security legislation.

(11) NEW WAVE OF FRAUDULENT FINANCE WILL GENERATE REVENUE AT HUGE COST:

Buried inside this intended giga-scamming operation is the US official intent to generate revenue by these means – revenue that may OR MAY NOT be taxed. On the basis of past experience, a huge proportion of the intended Ponzi transactions will be handled, as usual, off-balance sheet, so that the proceeds will be shovelled into ‘offshore’ accounts, despite the latest revived G-20 ‘offensive’ against tax evasion. Whether the offshore centres will comply with the pressures being exerted on them now that the Bush Crime Family is ostensibly ‘out of the way’ (Bush II TORPEDOED the OECD’s operations against the offshore centers in 2001) remains unclear.

But even if a significant proportion of the new Fraudulent finance transactions are taxed, the tax accruals will have been MORE THAN OFFSET by the huge increase in US Treasury debt that is to be created and is being created on the other side of the US Federal Government’s balance sheet.

And as we have pointed out, IT IS NOT NECESSARY TO CREATE ANY NEW TREASURY DEBT AT ALL. So, what is the problem?

• ANSWER: This is the Geithner-Volcker-Summers-Bernanke-Obama method of purporting to have these transactions occur in the private sector WHILE RETAINING CONTROL.

(12) THE REAL MOTIVE: THE CROOKS ARE TERRIFIED OF LOSING CONTROL OF TRADING:

What they are terrified of is LOSING CONTROL OF TRADING. That’s the bottom line.

• So they are quite happy to burden the present and future generations of Americans with colossal unnecessary Treasury debt IN ORDER TO RETAIN CONTROL.

• Therefore, THEY ARE COMMITTING TREASON AGAINST THE AMERICAN PEOPLE, since there is an alternative method of getting out of this mess: by RELINQUISHING CRONYISM CONTROL so that the Government sector is not engaged in creating UNNECESSARY DEBT to finance this scam.

Discontent may remain muffled for now in the context of the official attempt to invent a ‘feel-good’ factor for public consumption, in the ‘expectation’ that the imminent Fraudulent Finance rebooting operation with the Lombard Odier external ‘insurance wrap’ will reignite the productive economy, whereas its purpose is to exchange the worthless existing derivatives pile for NEW MONEY, in accordance with the standard Ponzi principle.

This operative said on 9th April that the US economy will begin to feel as if it is recovering within the next few months, as the “sense of free fall” comes to an end. Addressing the Economic Club of Washington, this operative offered NO EVIDENCE WHATSOEVER for his assertions, as his woolly phraseology revealed. There were ‘still substantial downdrafts’ (no mention of the ten huge Bush-related Ponzi networks waiting to ‘blow’ in Europe, of course); but Mr Summers was ‘reasonably confident’ that ‘the sense of a ball falling off the table’ will come to an end within months.

‘We will no longer have that sense of free fall’, he waffled, adding that his aim was to ensure that the downturn is not an ‘historic event’. He thought that in the past 6-8 weeks ‘things have felt a little better’ on the basis of ‘a substantial anecdotal flow of information’.

Tell that to the owner of the diner frequented by the Editor of this service in Midtown New York, which was empty when last visited, or to the Midtown breakfast diner which is normally so crowded on Sunday mornings that for years it was a waste of time turning up there. The other Sunday the Editor strode past and observed plenty of tables, so he renewed his acquaintance with the place.

Exactly what class of weed Mr Summers has been consuming is unknown. But what we do know is that, as President Obama’s ‘closest economic adviser’, this operative is a key driving force behind the intended Fraudulent Finance offensive that will crucify the present and future generations of Americans because of the HUGE BURDEN OF UNNECESSARY DEBT that it will generate – thanks to Summers’ perverse refusal, along with his colleagues, to TAKE THE CORRECT ACTION.

Meanwhile the blocking operations of the Connecticut Trust group on behalf of George H. W. Bush Sr. have continued unabated since we ‘outed’ these criminals. On 9th April 2009, further sabotage activity by this group was reported. Releases are being sabotaged because the criminal controllers intend to have everything their own way, supported by Gold Badges who are likewise intent on not doing their jobs, but instead collaborating in the intended official Fraudulent Finance orgy.

• On the other hand, we received information from usually reliable sources on Easter Day, believe it or not, to the effect that an unspecified number of arrests had taken place that day, of key people at their homes under US Homeland Security legislation, and that those arrested were said to have been hauled away without being read their rights. [When we report such arrests etc, we replicate what sources tell us. If confirmed we say so: on Sunday it was not possible to confirm such reports].

• Also on Easter Day, we learned that a previously wealthy Russian who had bought a property in West Palm Beach for $125 million from Donald Trump, who had previously acquired the palace in question for $45 million, was of course trying to dispose of it, and that Donald Trump had offered him $25 million for it! This information comes from local real estate sources.

THE LEGALISATION OF FINANCIAL CORRUPTION
The following analysis, published in International Currency Review, Volume 34, Number 2, on pages 2-37, will demonstrate even to those perverse US officials and bankers whose ears are blocked and who have eyes to see but refuse to see, that we have the full authority of due diligence and proper professional analysis behind us – plus the necessary clout to have published what follows in our journal, the latest issue of which is now resident with governments and their structures, as well as with central banks, treasury departments, international institutions, intelligence agencies, and other subscribing official and private sector organisations and policymaking environments.

The ICR financial analysis, entitled ‘The Legalisation of Financial Corruption: The Creation of Securitisation and Credit Default Swaps’ ( as Chapter One) and ‘The Legalisation of Financial Corruption: Descriptions of the Resulting Derivative Financial Frauds and Scams’ (Chapter Two), has been in the international public domain for a month now, and is based upon research and analysis specially conducted for this service by the sole US securities expert who is telling the truth and pulling no punches (an ACCURATE statement), Michael C. Cottrell, B.A., M.S.

Our website will be upgraded this year to enable us to publish charts and illustrations. At the moment, we do not have this capacity. Therefore, in Chapter Two, the references to the three charts are supplemented by Notes appended at the foot of the analysis, following the list of 163 References and Notes appended to the analysis itself.

These three Notes are NOT NUMBERED because numbering them would interfere with the existing hierarchy of references. To know more about the three charts explaining the scamming operation under Paulson’s TARP deception, which is the precursor of the Obama Administration’s even more convoluted TALF arrangements, see chart references: Figures One, Two and Three.

• CHART LEAFLET DISTRIBUTED IN VIRGINIA AND D.C:

These three charts have been distributed by a senior authority by hand in Virginia and Washington DC in the form of a four-page International Currency Review leaflet entitled:

‘Revaluing worthless, false ‘Structured Products’
(in order to refinance corrupt Fraudulent Finance operations in the process):

Deconstruction of the Paulson Treasury ‘TARP’ operation:

Three charts exposing official Fraudulent Finance
published in International Currency Review: VOLUME 34, NUMBER 2, MARCH 2009’.

The International Currency Review presentation is followed by the definitive world Glossary of Deceptive and Exotic Derivatives Terms [pages 39-87], including specially invented terminology consistent with this lie-factory, which serves the purpose of OBFUSCATION so as to mask what is happening in the derivatives sector behind a fog of jargon. This glossary is not published here.

REASON FOR PRESENTING THIS ANALYSIS
Finally, this analysis is presented here for two key reasons:

(1) To demonstrate that our professional conclusion and our recommendation that the debt-free Refunding Programme must proceed from London is based upon solid and accurate analysis, not just upon vapid arm-chair opinion; and:

(2) To make it impossible for those interested parties who are opposed to doing what has to be done the honourable and correct way, to deny that we know what we are talking about here which, believe it or not, we have heard is taking place.

• After nearly four decades of publishing this journal, it ought to be understood that we DO know what we are talking about, which is why governments and their structures, banks, central banks, international institutions, leading investors and certain intelligence agencies worldwide subscribe to International Currency Review.

• FACT: Indicative of its petty-minded revulsion at being told what it doesn’t want to know, last December the Paulson Treasury cancelled its sub. to International Currency Review, to which it has subscribed since the early 1970s, and asked for a refund, which we do not provide (see ‘How we do Business’ on our website)!!! (When you buy a pair of shoes at a shoe store, you don’t return to the store and ask for the money back on one shoe! You paid for two shoes and you keep the shoes).

THAT’S HOW STUPID THESE DEVIOUS PEOPLE HAVE BECOME. They don’t fancy having a serious journal lying around in their Library – as has been the case for nearly four decades – describing their behaviour as duplicitous and criminal: which it is.

If that wasn’t the case, we wouldn’t describe it as such, would we? The US Treasury is engaged in systematic Financial and Economic Terrorism against the American people and the Rest of the World. This is not a figment of our imagination: money-laundering is Financial Terrorism according to the Patriot Act legislation. Too bad that they make an exception for serial official misconduct.

• CHAPTER ONE:
THE LEGALISATION OF FINANCIAL CORRUPTION:
THE CREATION OF SECURITISATION AND CREDIT DEFAULT SWAPS

PART ONE: THE HISTORICAL BACKGROUND
The financial market environment that produced credit derivatives and other structured products was the cumulative consequence of the following:

• BCCI, which was deliberately imploded and its surpluses stolen;

• The Bush Task Group on Regulation of Financial Services;

• CAPCOM, CARLYLE, ENRON, and:

• The Gramm-Leach-Bliley Act of 1999.

A: BCCI: THE BANK OF CREDIT AND COMMERCE INTERNATIONAL
This bank was established as a partnership involving the Bank of America, with an initial fully paid-up capitalisation of $10,000,000 – $2,500,000 provided by the Bank of America for a 25% ownership share, in collaboration with Agha Gasan Albedi of Pakistan (1). The bank’s primary supporters, both politically and financially, were Sheikh Zayed bin Sultan Al-Nahyan, the eventual ruler of the United Arab Emirates (UAE), and Kamal Adham, known as ‘the godfather of Middle Eastern Intelligence’ (2).

Bank of America’s expansion into the Middle East was ‘justified’ on the basis that it took advantage of ‘Corbanking’ (= correspondent banking). The transference of funds into external Financial Center banks and the offering of access to master trusts, foreign exchange, depository services, and check-clearing through correspondent banking networks, enabled the Bank of America to gain a foothold into Islamic banking institutions (3). Pakistan became the clear choice for Western banks intending to establish Corbanking relationships – due to three characteristics:

(1): The reality of ‘Islamisation’;
(2): The existence in Pakistan of a highly skilled banking profession;
(3): The emergence of a new government committed to liberalisation, i.e., specifically to privatisation of national banks and the establishment of new investment banks (4). Islamic banking prohibits the payment of interest on money deposited with the bank, and usury. Additionally, the new government of Zulfikar Ali Bhutto committed itself to liberalising and privatising the country’s banks as a way to encourage foreign business enterprises into Pakistan. Habib Bank and the Muslim Commercial Bank provided links between the Islamic-oriented banks and the new liberalised investment banks that were established in the country (5).

During the Second World War, the United States used the Office of Special Services (OSS) and its Board of Economic Warfare (BEW) as primary instruments to harass and destroy the economic activities of Nazi Germany. The Central Intelligence Agency (CIA) employed the same strategies, through BCCI’s correspondent arrangements throughout the Middle East (6).

BCCI thus became a primary instrument by means of which the so-called ‘Reagan Doctrine’ was to be implemented. This US strategy was packaged for public consumption as an offensive aimed at financing and supporting anti-Communist insurgencies around the world, as President Reagan had ostensibly ‘decided’ that the Cold War had outlived its sell-by date.

[Addendum by the Editor: In reality, a much darker imperative was at work: 1989 was the 72nd anniversary of the Russian Revolution. In accordance with the secret logic of the ‘Rule of 72’, it was time for the ‘torch’ of Revolution to be handed back to the classic revolutionary power of all time, the United States. The United States’ aberrant behaviour as a pariah state reflects this].

THE RELEVANT REAGAN NATIONAL SECURITY DECISION DIRECTIVES
In the course of 1982 and 1983, President Ronald Reagan secretly issued three National Security Decision Directives (NSDD) for the purpose of steering US foreign policy:

• NSDD-32, NSDD-66, and NSDD-75.

• NSDD-32, issued in March 1982, declared that ‘that the United States would seek to neutralise Soviet control over Eastern Europe’, and authorised ‘the use of covert action and other means to support anti-Soviet organisations in the region’ (7).

• NSDD-66, issued in November 1982, declared that that it would be ‘US policy to disrupt the Soviet economy by attacking a ‘strategic triad’ of critical resources that were deemed essential to Soviet economic survival (8).

• Finally, in January 1983, NSDD-75 was issued, calling for ‘the United States not to just co-exist with the Soviet system, but to change it fundamentally’ (9).

NSDD-66 and NSDD-32 allowed the Reagan-Bush White House to undertake more drastic measures towards implementation of the ‘Reagan Doctrine’ by seeking any means necessary to secure low oil prices, that would damage the Soviet economy, while also arming and supporting Iraq and the anti-Soviet Mujaheddin Afghanistanis.

This operation utilised the BCCI financial conduit provided by the CIA and the National Security Council under Vice President George H.W. Bush Sr.. The war was costing the Central Intelligence Agency (CIA) more than $100 million dollars a year, and ‘necessitated’ funding Pakistan’s ISI (Inter-Services Intelligence) which was actively supporting the Mujaheddin against the Soviets (10).

The CIA engaged with more than 200 leading US corporations in this context, so that all these US corporations thereby provided cover for the operations of specifically CIA-sponsored and CIA-supported US corporate entities (such as Chemical Bank of New York) (11).

B: CHEMICAL BANK OF NEW YORK
Chemical Bank of New York was established in 1934, when Lehman Brothers, a Wall Street Investment firm, bought 20% of the Rockefeller shares in the Corn Exchange Bank of New York.

The Corn Exchange Bank was then merged into the Chemical Bank and became the Chemical Corn Exchange Bank – later re-named the Chemical Bank of New York.

On 20th November 1978, Chemical Bank established the Chemical New York Southwest, Inc., in Houston, Texas, as a loan production affiliate of Chemical Bank, New York, NY. The Directors of Chemical Bank also created ChemLease, Inc. as an equipment finance affiliate, which changed its name to Chemical Business Credit Corporation in January, 1980, with a brief to provide equipment and commercial finance services (12).

Chemical New York Corporation, a bank holding company, re-structured its international financing operations, in April 1983, and in doing so, promoted:

(a) Mr William B. Harrison, Jr., to head the US Corporate division encompassing all corporate lending in the United States;
(b) Mr Maurice H. Hartigan II, as the head of Account Management and Solicitation of Correspondent Banks, brokerage firms, and insurance companies;
(c) Mr Barry T. Linsley, as head of all Treasury and foreign exchange operations
in Europe and the Middle East; and:
(d) Mr William C. Pierce, as head of the Energy and Minerals Group (13).

In September 1984, Chemical Bank established a special Government Relations Office in Washington, D.C., to be known as Chemical New York, Inc., located at 2000 Pennsylvania Avenue, N.W.., although Chemical New York Inc.’s District of Colombia-registered office was at 1025 Vermont Ave., N.W. (14). Chemical New York purchased Texas Commerce Bancshares, owned by the family of James A. Baker III (President Reagan’s Chief of Staff) in 1987 (15).

The Federal Reserve Board approved an application, on 21st April 1988, from Chemical New York Corporation to be engaged through a subsidiary, Chemical Futures, Inc., in the execution and the clearance of futures contracts on a municipal bond index.

• Chemical Futures, Inc. was allowed by the Federal Reserve Board to solicit, execute, and clear futures contracts on major (international) commodities exchanges for non-affiliated persons, and would be allowed to serve as a futures commission merchant on the Chicago Board of Trade (16).

By 1996, Mr. Harrison had become Chairman and Chief Executive Officer (CEO) at Chase Manhattan Bank, New York, whereupon he successfully merged Chase Manhattan Bank with Chemical Bank for the sum of $35 billion US dollars. This merger incorporated the assets acquired by Chemical Bank when Chemical Bank merged with Manufacturers Hanover Corporation, in 1991. Thus, by the end of 1996, Chemical Bank/Chase Manhattan Bank had become the largest banking operation in the United States, with assets of over $235 billion (17).

• Chemical Bank and BCCI: Although BCCI only existed between 1972 and 1992, it paved the road for financial terrorism, the scourge which has been and continues to be exposed through our website and published reports, because it became the financial conduit for White House/CIA/NSC operations and lethal adventures following on from the circumstances outlined at the beginning of this report, which should be considered and used as a verbal flow-chart. BCCI was used for:

(1) The purchase of arms for the anti-Soviet Mujaheddin in Afghanistan, via the CIA [and DCI/Vice President G.H.W. Bush];
(2) Arms purchases by BOTH Iran and Iraq during their eight-year war, so that de facto the United States was one of the powers sustaining the war with arms sales; and:
(3) The self-destruction of the Soviet Union’s financial system, induced by means of bribery and an economic warfare operation involving CAPCOM, et al., Chemical Bank, et al., and the CIA (embracing the open-ended financial operations of free-wheeling CIA operatives, such as Leo Wanta, who was assisted by the much more resourceful and effective Chinese intelligence financier, Howie Kwong Kok)(18).

C: CAPCOM

Capcom was created by BCCI’s Treasury Department head, Ziauddin Ali Akbar, who capitalised the corporation with funds from BCCI and BCCI customers (19). Akbar registered a shelf corporation, on 26th April 1984, named Hourcharm Ltd., at his home address in London (England), and then, on 22nd May 1984 renamed it Capital Commodity Dealers, Ltd. before again renaming the company as Capcom Financial Services, Ltd., in July 1984 (20). Capcom was thereafter funded with additional monies, to an amount of £25,000,000 (approximately $37,000,000, in 1984 US dollars) (21).

Its speciality was changing its name and spawning offshoots. Specifically, Capcom Financial Services Ltd. then went through a number of variations:

• Capcom Securities, Ltd.;

• Capcom Inc.;

• Capcom Co., Ltd.;

• Chemical Futures, Inc.; and:

• Capcom Equities, Inc. (22).

• Capcom, Inc. was formed in Cleveland, Ohio, on 8th August 1976; in Boca Raton, Florida, on 26th August 1976; and in Washington, D.C., in 1981 (23).

Capcom Co., Ltd. operated/operates as a London-based Japanese Management Consulting Services firm which was established in 1991 (24).

Finally, Capcom Equities, Inc. (re-named as Everest Securities, Inc., on 19th March 1990), was set up on 12th August 1988, in Illinois, with its registered office in Plantation, Florida (25).

BCCI’s network of banks aided the movement of massive amounts of funds to arms suppliers in the United States Canada, China, and Soviet satellite countries, and provided the main mechanism for Capcom profits/losses from the purchase and sale of options derived from the Chicago Mercantile Exchange to flow on and off the BCCI books (26). This ‘options scheme’ facilitated the ‘loss’ of a minimum of between $250 million and $500 million within a Capcom/BCCI ‘black hole’ (27).

D: BUSH TASK GROUP ON REGULATION OF FINANCIAL SERVICES (1983-1985)
In December 1982, Vice President George H.W. Bush announced the formation of The US Task Group on Regulation of Financial Services to:

‘Review the Federal Government’s regulatory structure for financial institutions and propose any desirable legislative changes to the existing system’.

It was against that official background that, in a keynote speech addressing The American Assembly at Columbia University, on 8th April 1983, Bevis Longstreth, a Commissioner with the US Securities and Exchange Commission [SEC], made a detailed appraisal of the Financial Services Industry and regulations, the full text of which is given as Appendix Three with this presentation (28):

‘If a salesman… deals directly with the consumer of financial services – he would have to contend with various US and State financial services regulators. If the salesman is affiliated with a broker-dealer, he must become a registered (securities) representative [in order] to sell securities.

To qualify, he must meet detailed requirements with respect to character and competency; in recommending transactions he is subject to rigorous ‘suitability’ standards and generally to the NASD’s (National Association of Securities Dealers) Rules of Fair Practice. In addition, he is subject to the BLUE SKY laws of the States where his clients reside’ (29).

‘If the salesman wants to sell commodity futures or commodity options he must be qualified as an associated person of a futures commission merchant and conducts his activities in accordance with the regulatory scheme administrated by the Commodity Futures Trading Commission (the CFTC) and the National Futures Association’ (30).

‘If the salesman wants to sell insurance products he is subject to the jurisdiction of the state insurance regulators. If he wants to provide investment advice, with respect to securities, he must register as an investment adviser under the Investment Advisors Act and conform to its requirements, including state regulations’ (31).

‘If the salesman is employed by a bank, he can offer securities, manage pooled investments and render investment advice. Because a bank is not a broker or dealer and is exempted from the Investment Advisors Act, the securities laws do not apply. A different set of regulations apply, issued by bank regulatory authorities’ (32).

According to Mr. Longstreth, these multiple regulatory schemes were/are inefficient, ineffective, and, therefore, irrational. He believed that the time had come to ‘clear out this regulatory thicket in favour of a functional approach – based on identifying what aspects of function warrants regulation, and then design a regulatory agency to administer the regulation’ (33).

Mr. Longstreth addressed the ‘need’ to de-regulate ‘Pooled Funds’ (now known as HEDGE FUNDS), since the function of pooled funds is the management of the customer’s money based upon the supposed ease of management and economies of scale. At the time, in 1983, pooled funds were subject to the Investment Company Act of 1940 and the Securities Act of 1933 (34).

Additionally, banks may not sponsor mutual funds, but may organise common and collective trust funds that are very similar to mutual funds. However, banks are regulated by the Comptroller of the Currency’s Regulation 9, and in some cases, ERISA [Employee Retirement Income Security Act of 1974], which address conflicts of interest. Mr Longstreth questioned ‘whether any reason justifies preserving the differences in regulation of pooled funds’ over better management of the funds on behalf of the customer (35).

Another type of fund that Mr. Longstreth raised regulatory questions about was Money Market Mutual Funds and the implicit evasion of Regulation Q.

The issue of risk, in the case of Money Market Mutual Funds, may be slight, but the deposit may not be paid out at par (‘breaking the buck’).

Moreover, since passage of the Garn-St. Germain Act, the question of money market deposit accounts was made a matter of law (36).

Mr Bevis Longstreth also made out a case for the consolidation of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), on the basis that then-recent (1983) legislation had made the jurisdiction between the two agencies so close, that there was now little overlap. However, the term ‘commodity’ is also defined under the US Commodity Exchange Act as a ‘security’, and the many broker-dealers regulated by the SEC are also futures commissioned merchants subject to the CFTC regulations (37).

Mr. Longstreth concluded that the Glass-Steagall Act of 1933 had reflected a clear Congressional determination that avoidance of the ‘hazards’ and ‘financial dangers’ to banking that arise when commercial banks engage in investment banking, outweighed the advantages of competition, convenience or expertise that might support bank entry into the investment banking arena (38). …Yet, he elaborated, ‘the growing interdependence of financial intermediaries should give pause to policymakers tempted by the siren song of Adam Smith’.

Therefore, Mr Longstreth concluded that it was ‘my thesis that’:

(1) Market discipline can only assure soundness in an overall environment where institutions are PERMITTED TO FAIL;

(2) The linkages among financial intermediaries often are too extensive (and growing stronger and more numerous) to PREVENT ANY ONE FAILURE FROM TRIGGERING OTHERS;

(2) Therefore, the collateral consequences of failures often impose unacceptable costs on the financial system; and:

(4) Accordingly, to assure soundness, a new system of direct regulation is needed – a system broad enough to encompass all financial intermediaries, and flexible enough to enable the forces of full disclosure and market discipline to do their share of the job (39).

Finally, Mr Longstreth urged people to study the Federal Reserve Act as the most logical source of regulation and emergency funds, but noted that the Federal Reserve Act was too archaic and inflexible to do the necessary regulatory job (40).

The BUSH TASK GROUP (the 1983 task force) was established as the result of US Congressional hearings (1981-1983) regarding enforcement of The Corrupt Foreign Practices Act (1977) involving corporate reporting and accounting (41).

The Task Group was formed, in part, as a result of the SEC Chairman John S. R. Shad’s proposal for a one-year task force which would:

(1) Review the regulatory structures applicable to the securities, banking, thrift, and insurance industries in the United States;

(2) Propose that financial services should be regulated by functional activities rather than by outmoded industry classification;

(2) Recommend that overlapping, duplicative, and conflicting regulatory activities be consolidated, having identified the overlaps, duplications and conflicts; and:

(4) Recommend that ‘excessive regulation’ within and between agencies should be eliminated under new legislation (42).

The Bush Task Group endorsed proposals for the substantial reorganisation of the Federal regulatory system for depository institutions. The proposals would repeal the exemptions in the Securities Act of 1933 covering the registration of securities issued by banks and Savings and Loan Associations and would transfer to the SEC, the burden of administering periodic reporting, proxy solicitation, and short-swing profits provisions of the Exchange Act… .

Thus, these initiatives would consolidate the administration of securities disclosures requirements for banks and US Savings and Loan Associations, ostensibly resulting in more uniform disclosure financial disclosure to public shareholders and securities analysts and facilitating evaluation of comparative investment risks (43).

The Securities and Exchange Commission (the SEC) would become the repository for filings of all publicly held institutions, Savings and Loan Associations, and holding companies, as it is for all other publicly owned companies.

In early 1984, the SEC testified in support of legislation to facilitate the development of the private secondary mortgage market.

The resulting legislation was signed by President Reagan on 3rd October 1984, and was designed to encourage offerings of mortgage-backed securities by private issuers (44).

OSTENSIBLY ‘UNINTENDED’ CONSEQUENCES
The financial deregulation that resulted from the Bush Task Group of 1985 has led to an age of heightened power for the Federal Reserve System via the following mechanisms, contributing to the collapsing system now in evidence:

(1) The continued expansion (coverage) of Regulation K,
i.e., international banking and Edge Act corporations;

(2) The further expansion of free-market activities introduced under:
The Omnibus Banking Bill of 1980;

(3) The Competitive Equality Banking Act of 1987;

(4) The Electronic Fund Transfer Act;

(5) The Financial Institutions Reform, Recovery, and Enforcement Act of 1989;

(6) The Foreign Bank Supervision Enhancement Act of 1991;

(7) The Gramm-Leach-Bliley Act of 1999;

(8) The Legal Certainty for Bank Products Act of 2000; and:

(9) Title 31, United States Code, Subtitle IV (45).

The Bush Task Group Report on Regulation of Financial Services (Blueprint for Reform) presented on 26th and 27th March 1985 contained several recommendations concerning the deregulation of the banking industry, including:

• The Federal bank oversight supervisory agencies should be thinned out;

• A Federal Banking Agency should be created;

• The Securities Act of 1933 should be amended;

• Restrictions in the Investment Company Act of 1940 should be removed; and:

• The Trust Indenture Act of 1939 should also be amended.

The overall emphasis of this report was primarily to reduce the regulatory oversight of Federal supervision of national banks – thereby allowing the banks to gain access to the lucrative, but prohibited, non-banking financial services arena (46).

E: CARLYLE
The Carlyle Group, describing itself today as a ‘global private equity firm’, was established in 1987, in Washington, D.C., as a Private Partnership by Stephen L. Norris, and David M. Rubenstein (47).

The partnership then hired William E. Conway, Jr., Daniel A. D’Aniello, and Greg Rosenbaum. By 1995, Messrs Rubenstein, Conway, and D’Aniello reportedly collectively owned an approximate 50% interest in the group’s general partnership, with the California Public Employees Retirement System (CalPERS) as the only US institution owning a stake in the partnership (a 5.5% share, for $175 million, paid in 2001) (48).

In September 2007, Mubadala Development Company, ‘an investment group owned by the government of Abu Dhabi, which is part of the United Arab Emirates’, purchased a ‘7.5% share of Carlyle’s general partnership, for $1.35 billion’ (49). Wikipedia has named George H.W. Bush and former Secretary of State James A. Baker III as notable investors in Carlyle Group [sic!] (50).

In our reports, we have pointed out that the participants in this colossal ‘money machine party’ operated on the assumption that the bonanza would continue for ever – as is presupposed by the reality that the Depository Trust and Clearing Corporation (DTCC) boasted during 2008 that it had cleared $1.8 quadrillion of derivatives transactions.

This entity is owned by a group of US clearing banks, now including inter alia Deutsche Bank, which purchased the clearing facilities from JPMorganChase. It has guaranteed over $600++ trillion of derivatives ‘assets’ outstanding and, as more and more of these contracts reach maturity and fail, its guarantees are being called, with actual or prospectively DISASTROUS consequences.

It was the height of irresponsibility for the banks to have set up a corporation to guarantee these exotic transactions (clearing them = guaranteeing them). When the guarantees are called, they must be honoured (operation of law).

Notwithstanding the above, on 31st January 2007, William E. Conway, Jr., sent a letter to the firm’s ‘investment professionals worldwide’, which contained some revealing observations, in which Mr Conway attributed the continued rise of world stock markets to a glut of liquidity in the world financial system, describing the glut as reflecting:

‘… the availability of enormous amounts of cheap debt’.

Mr Conway’s letter elaborated: ‘This cheap debt has been available for almost all maturities, most industries, infrastructure, real estate and all levels of the capital structure’. He said that there is so much liquidity in the world’s financial systems that ‘lenders (even ‘our’ lenders) are making very risky credit decisions’.

‘And of course when [the liquidity bubble] ends, the buying opportunity will be once in a lifetime. But I do not know when it will end’. Mr Conway also expressed concern that the resulting US recession could become a global depression.

F: ENRON
Enron started life on 25th April 1930, as a component of a group of filed companies, operating in different US states, with the various DBA (‘Doing Business As’) companies having different names, such as the Northern National Gas Company. Enron was crossed-filed as a corporation in Texas on 10th December 1934, in Iowa on 26th August 1935, and in Delaware on 11th October 1934 (51).

Enron evolved into a component of the US intelligence community’s Energy Operations, with various agreements and contracts being secured from Middle Eastern parties resulting from the Allies’ victories in the Second World War.

In parallel, though, Enron also became an energy behemoth given its multiple cross-filed component corporations consisting of legal, chartered, and assumed names, i.e., Enron Corporation; Northern National Gas Company; Division of Internorth, Inc. (this name being registered three times); The Peoples’ Natural Gas Company; Division of Internorth, Inc.; Northern Natural Gas Company; Energy Systems Company; Division of Internorth, Inc.; Internorth, Inc.; HNG/Internorth; Enron Oil & Gas Company; EOG Resources, Inc.; HNG Fossil Fuels Company (52).

[The replicated/duplicated names represent separate companies,
registered and filed separately in different States].

Enron, et al., was/were exploited during the Reagan-Bush Administration, via CIA/DCI William Casey’s various ‘Enterprise Operations’, to move monies and materials around the world in order to meet the needs of ‘LASMO’, Amerada Hess, and other entities involved with the implementation of President Ronald Reagan’s Executive Orders NSDD-32, NSDD-66, and NSDD-75., referenced above (53). Enron was also deployed as a conduit for monies and jobs for the South American operations of the NSC-CIA during the George H.W. Bush Administration (54) [e.g., Falklands].

Between 1985 and 1987, Enron had set up four phoney offshore shell corporations to arrange sham oil trading contracts with Enron. Messrs. Mastroeni and Bourget were convicted and sentenced for defrauding Enron and for filing false tax returns – all under the sole supervision of Mr Kenneth Lay, Enron’s Chairman and Chief Executive Officer (55).

Enron’s offshore entities were (and in some cases still are) numerous and had/have multi-year, multi-million dollar contracts with such corporations as Kuwait Foreign Petroleum Exploration Co., El Paso Energy Partners, LP., BG-Enron, Enron Oil & Gas India Ltd. (EOGIL), Chaco, Amerada Hess Corp., and Trans Pacific Petroleum NL.(56) Amerada Hess forms a component part of the LASMO/Wilmington Trust operations of the 1990s (57).

We have already seen that Enron, et al. consisted of a large number of filings – winding up with 20 legal, chartered, and assumed DBA names filed in numerous States throughout the United States.

Enron’s top leadership, represented by Jeffrey K. Skilling and Kenneth L. Lay, were aggressive in securing debt to increase Enron’s capital to finance the expansion of its operations. At the same time, the conglomerate spawned over 3,500 offshore Special Purpose Entities or Vehicles (SPEs or SPVs) to hold assets that had been illegally moved from Enron’s balance sheet to the balance sheets of these so-called Special Purpose Vehicles.

The SPEs benefited from quite extraordinary ‘special exemptions from regulation’, applicable for EnronOnline, as specified in a 200-page attachment to the 11,000-page General Funding Bill passed by Congress on 15th December 2000 (58).

These SPE exemptions allowed Enron, et al., to own as little as three percent of the limited partnership with any outside interest partner, i.e., OSPREY Partnership, which generated $3.9 billion off-balance sheet debt – backed only with preferred stock – which was to be convertible into 50 million common shares in Enron (59).

EnronOnline was launched, on November 29, 1999, as the first web-based transaction system. This innovation allowed buyers and sellers to buy, sell, and trade commodity products globally – but only through Enron. The site allowed energy users to trade natural gas, electricity, and over 500 other products including credit derivatives, bankruptcy swaps, pulp, gas, plastics, paper, steel, metals, freight, and even TV commercial time.

This ‘off-the-floor’ trading platform soaked up tremendous volumes of Enron’s funds, since Enron was either the buyer or the seller of the aforementioned commodities and securities. Essentially, Enron was draining itself of its cash flow via EnronOnline’s trading activities. EnronOnline was closed down for online trading on 28th November, 2001 (60).

Given its huge debt burden, Enron’s survival hinged on its credit rating status. At the end of October 2001, both Moody’s and Fitch declared that Enron had been slated for review for possible downgrade (61). The possible downgrade would force Enron to issue millions of shares to cover the guaranteed loans, and thus devalue the stock further.

On 29th October 2001, the rumour spread on Wall Street that Enron was seeking one to two billion dollars’ worth of additional financing from the banks – a development that contributed to Moody downgrading Enron’s credit rating or senior unsecured long-term debt ratings, to Baa2, just above junk bond level. Standard & Poor’s downgraded Enron to BBB+ on 30th October 2001 (62, 63).

Enron had created myriad offshore entities [see above] that were used for planning and avoiding taxes, while increasing Enron’s reported ‘profitability’ and of course ensuring the accumulation of vast (Ponzi) untaxed profits offshore.

Enron’s ownership and management had full freedom of currency movement, internationally, enjoying total anonymity, so that losses were thereby hidden while off-balance sheet profits accrued to the companies and their ‘executives’.

The operations of these Special Purpose Enterprises (SPEs) made Enron appear more profitable than its actual financial condition warranted, and created a dangerous spiral that required Enron to perform better and better in each succeeding quarter – requiring deception to be employed in order to hide the obvious fact that Enron was haemorrhaging cash. Although the inside executives knew of this situation, the public did not, since Enron’s Securities Exchange Commission quarterly and annual filings did not reveal the true financial situation – as is required by law.

Arthur Anderson, LLP, Enron’s accounting firm, was well aware of this unlawful situation, but did nothing to correct it, and, in fact, participated (co-conspired, as a professional Accessory to the Fact) in structuring the offshore so-called Special Purpose Enterprises to enshroud the process from public scrutiny (64).

On 2nd December 2001, Enron filed for Chapter 11 bankruptcy (65). Robert E. Rubin, a US Treasury Secretary during the Clinton Presidency, telephoned the Treasury and spoke to the Undersecretary for Domestic Finance, Peter Fisher, about ‘what (Mr Fisher) thought of the idea’ of the US Treasury persuading bond-rating agencies to hold off reducing the freefalling Enron credit rating.

Such an intervention would help both Enron and Citigroup, one of Enron’s leading creditors. Quite properly, Mr Fisher told Rubin, who was Citigroup’s CEO, that the idea was not appropriate; and he took no action to assist Enron (66).

The US Treasury Secretary of the day, Paul O’Neill, the Commerce Secretary, Donald Evans, and the Federal Reserve Chairman Dr Alan Greenspan, all likewise revealed that they had received calls, on 2nd December 2001, from Enron’s CEO Kenneth L. Lay asking for help for Enron (67).

Thereafter, Enron, like BCCI and CAPCOM, was charged by the Securities and Exchange Commission and other authorities, with falsely reporting profits from commodity trading (68), leaving debts ‘off the books’, and overstating profits by $400 million plus, in its annual reports (69).

G: THE FINANCIAL SERVICES MODERNIZATION ACT OF 2000:
THE GRAMM-LEACH-BLILEY ACT (GLBA)

This Act updated the United States’ laws governing financial services by repealing two provisions of the GLASS-STEAGALL ACT, namely, Sections 20 and 32.

These two provisions prohibited the affiliation of commercial and investment banking firms, and limited officer and director interlocks between them (70). GLBA overrides restrictions in the Bank Holding Company Act (BHC Act), and the limitation on bank holding companies to engage in the insurance business (71).

The Act created a new ‘financial holding company’ category under Section 4 of the Bank Holding Company Act. Such holding companies can engage in a statutorily provided list (menu) of financial activities, including insurance and securities underwriting and agency activities, merchant banking and insurance company portfolio investment operations (72). Activities that are ‘complementary’ to financial activities were/are also authorised.

The non-financial activities of firms predominantly engaged in financial activities (at least 85% financial) are grandfathered for at least 10 years, with a possibility for a five-year extension (73).

The expanded ranges, according to certain testimony before a Congressional Committee, allow for technological advances and for meeting the needs of wholesale and retail customers (74).

Additionally, the Federal Reserve Board was authorised to be the umbrella regulator for financial holding companies, since GLBA allows financial services firms to engage in merchant banking (75).

This activity placed American banks on a footing similar to their European counterparts. European financial institutions engage in investment banking, advising, and negotiating in mergers and acquisitions activity, and in a variety of other services including securities portfolio management for customers, insurance, the acceptance of foreign bills of exchange, dealing in bullion, and participating in commercial ventures (76).

PART TWO: FNMA [‘FANNIE MAE’] AND FHLMC [‘FREDDIE MAC’]:

PART TWO – A:

THE FEDERAL NATIONAL MORTGAGE ASSOCIATION [FNMA]:
The Federal National Mortgage Association [FNMA] was first organised by the Reconstruction Finance Corporation (RFC) on 10th February 1938 with a capital stock of $10 million, owned by the RFC, and surplus of $1 million under the name National Mortgage Association.

It was rechartered under the Housing Act of 1954, and made a constituent agency of the Housing and Home Finance Agency.

The functions, powers, and duties of the Housing and Home Finance Agency were transferred to the Department of Housing and Urban Development on 9th September 1965. Effective from 1st September 1968, FNMA was now converted into a Government-sponsored private corporation (a Government-Sponsored Enterprise, or GSE) – with respect to its secondary market operations for home mortgages.

Additionally, under the same legislation, the Government National Mortgage Association (GNMA, or ‘Ginnie Mae’), was established to continue other functions, i.e., special assistance functions, management and specified liquidating functions, guarantees of mortgage-backed securities, and participation sales – supervised by the Secretary of Housing and Urban Development (HUD) (77).

On 1st September 1968, FNMA had capital consisting of privately-held common stock worth approximately $140 billion and preferred stock held by the Secretary of the Treasury worth approximately $160 billion. By 30th September 1968, FNMA had retired its preferred stock with proceeds from the sale of subordinated capital debentures, thus becoming an entirely private corporation, although a majority of its board of directors continued to be appointed by the US Secretary of Housing and Urban Development (HUD). Under the 1968 Act, by 1st May 1970, FNMA, with the concurrence of the Secretary of HUD, had resolved that at least one-third of FNMA’s common stock was or would be owned by persons or institutions in the mortgage lending, home building, real estate, or related businesses (78).

However, FNMA continued to operate as a Government-Sponsored Enterprise, being treated as such in the annual Office of Management and Budget documentation, with specific charter accords that made it subject to several possible forms of Federal supervision, although this supervision also provided it with several conspicuous advantages:

(1) The Secretary of the Treasury has the authority, which is entirely discretionary, to purchase obligations of the Federal National Mortgage Association up to a specified amount outstanding at any one time;

(2) The corporation’s common stock and its other securities were to be exempt from registration requirements and other laws administered by the Securities and Exchange Commission (SEC) to the same extent as securities issued or guaranteed by the US Government;

(3) FNMA was made exempt from paying any taxes to any State or local taxing authority except for real property taxes, but it pays full Federal corporate income taxes; and:

(4) The corporation’s obligations were to be issuable and payable via the facilities of the Federal Reserve Banks, which are paid by FNMA for their services (79).

It is to be noted that the FNMA’s notes and debentures (prior to 8th September 2008) were not Federal Government obligations nor are/were they Federally guaranteed by an agency of the Federal Government, even though the Government-Sponsored Enterprises’ operations were routinely incorporated in the annual Office of Management and Budget (OMB) presentations – in recent years, with yawning gaps shown in the summary accounts displayed in the documentation, as re-presented in Figures A and B on pages 16 and 17, to illustrate [refers to our journal: Editor].

However, FNMA obligations were/are guaranteed by an agency of the US Government, and having the Full Faith and Credit of the United States behind them, are mortgage-backed bonds issued by the FNMA guaranteed by the Government National Mortgage Association (80).

PART TWO – B:

THE FEDERAL HOME LOAN MORTGAGE CORPORATION [FHLMC]:
The Federal Home Loan Mortgage Corporation was established on 24th July 1970 under the Federal Home Loan Mortgage Corporation Act [FHLMCA] of the Emergency Home Finance Act of 1970 (12 U.S.C. 1430, Note) (81).

This entity was established for the purpose of strengthening the existing secondary markets in residential mortgages insured by the FEDERAL HOUSING ADMINISTRATION or guaranteed by the Veterans Administration, and assisting in the further development of secondary markets for non-Federally insured or guaranteed residential mortgages (82).

The entity is also authorised to purchase residential mortgages from members of the FEDERAL HOME LOAN BANK SYSTEM as well as other institutions whose deposits or accounts are insured by agencies of the US Government, US Federal Home Loan Banks, and the Federal Savings and Loan Insurance Corporation (83).

FHLMC is empowered to raise funds to purchase the aforementioned mortgages via the issuance of securities in the capital market. When the FHLMC was created in 1970, this process existed only for Government-insured or guaranteed mortgages, and it was expected that encouraging the growth of a secondary market for conventional mortgages would increase the effective supply of residential mortgage financing and make mortgage investments more attractive to markets (84).

In 1972, the FHLMC developed a computerised matrix to assist the underwriting of single-family conventional mortgages; in 1975, it introduced the Guaranteed Mortgage Certificate (GMC) (85).

By 1977, the US secondary market for conventional residential mortgages had matured, and by 1978, the Federal Home Loan Mortgage Corporation had obtained Congressional approval to begin developing a new purchase program for home improvement loans, i.e., adding new rooms, the rehabilitation or improvement of an older home, and/or the installation of energy efficient features (86). Other activities that have been developed in this context include the Renegotiable Rate Mortgage Purchase arrangement, which created a secondary mortgage market, and a purchase program for the Pledged Account Mortgage (PAM) (87).

Under this scheme type, so-called (Mortgage) Participation Certificates (PCs), also known as Pass-Through Securities, are provided in registered form only, having original principal balances of $100,000, $200,000, $500,000, $1,000,000, and $5,000,000.

The FHLMC sells these PCs through a group of securities broker/dealers as well as through the corporation’s own Marketing Department.

Each PC holder collects on the pooled mortgages, including prepayments and interest. The FHLMC guarantees punctual payment of interest and the full payment of principal (88).

Guaranteed Mortgage Certificates (GMCs) represent undivided interests in conventional (non-FHA-insured and non-VA-guaranteed) residential mortgages.

GMCs pay interest semi-annually, and principal once per annum in guaranteed minimum amounts. Any GMC certificate holder may call upon the FHLMC to repurchase the GMC at par (value) in 15, 20, or 25 years after the original date of issuance, depending upon the specific issue (89).

A program of FHLMC Swap transactions was instituted in 1981 to enhance the liquidity position of Federal Savings and the Loan Insurance Corporation-insured Savings and Loan Associations by replacing mortgage loans with guaranteed FHLMC Mortgage Participation Certificates (PCs) (90).

This scheme was to operate as follows:

• A single institution (individual seller swap transaction) or a group of institutions (multiple seller swap transactions) would sell mortgage loans to the FHLMC with an aggregate outstanding principal balance sufficient to meet the FHLMC’s pool formation requirement of $100 million.

• The FHLMC would sell PCs to these institutions backed by the same mortgages.

• The associations would continue to service the mortgage loans and pay a guarantee fee to the FHLMC. The PC rate would be keyed to the lowest coupon rate of the pooled mortgages. Gains or losses on the subsequent sale, purchase, or exchange of PCs emanating from these swap transactions would be accounted for on the books of the insured institutions (91).

The Federal Home Loan Mortgage Corporation remains a corporate instrumentality of the United States, but it is not considered a Federal agency. The FHLMC has historically had been exempt from all Federal, state, and local taxation.

On 18th January 1984, the US Congress repealed its Federal income tax exemption, effective 1st January 1985. However, the securities sold by Freddie Mac continue to be subject to Federal and State taxes (92). FHLMC was, until FY 2009, displayed in the [journal] section of the annual Office of Management and Budget documentation under the heading ‘Government-Sponsored Enterprises’.

PART THREE: THE EMERGENCE OF ‘STRUCTURED PRODUCTS’
So-called ‘Structured Products’ are defined as representing a pre-packaged investment strategy based on derivatives, a basket of securities, options, indices, commodities, debt issuances, foreign currencies, and swaps.

SEC Rule 434 defines structured securities as ‘securities whose cash flow characteristics depend upon one or more indices or that have embedded forwards or options or securities where an investor’s investment return and the issuer’s payment obligations are contingent on, or highly sensitive to, changes in the value of underlying assets, indices, interest rates or cash flows’ (93).

‘Structured Products’ have been described as arising from the ‘needs’ of companies that want to issue debt more cheaply – one method of achieving this objective being to issue a convertible bond. The convertible bond is a debt that, under certain circumstances, can be converted to equity.

Specifically, ‘convertible securities’ are securities, usually preferred shares or else debentures, that may be exchanged for a designated number of shares of another class, usually common shares, called the conversion securities (94).

The ratio between the convertible and conversion securities is fixed at the time the convertible securities are issued, and is usually protected against dilution (95).

This exchange for the potential higher return, providing that the investors are prepared to accept the lower interest rates, could in theory return a greater value to the investor over time.

Investment banks, under the Gramm-Leach-Bliley Act (The Financial Services Modernization Act), chose to append features to the basic convertible bond – such as increased income in exchange for limits on the convertibility of the conversion securities or principal protection.

These extra features were based upon the premise that investors could also use strategies that employed options and other derivatives – in a pre-packaged product. Thus, investors accepted lower interest rates on debt, and purchased new products with higher promised returns via option and derivative features.

• Derivatives are actually contracts that derive their value from the underlying or supporting securities instrument, and offer investment managers and traders numerous risk and return strategies that were traditionally unavailable or too expensive to implement (96).

• Derivative contract instruments involve futures, forward, and option contracts.

• A futures contract is an agreement to buy or sell a specific amount of a commodity or financial instrument at a particular price on a specific future date (97).

• A forward contract is similar to a futures contract, since it is an agreement to buy or sell the future delivery of a valued item at a specified price at a specified date (98).

However, this contract is not standardised and is traded Over-The-Counter (OTC) by direct contact between the buyer and seller, and is not marked to the market (marked-to-market), i.e., there is no interim cash flow between the parties (99).

Additionally, forward contracts embrace credit risk, since either party may default at the contracted time and price due to the lack of a formal exchange to vet the creditworthiness of the parties (100).

An option contract is an agreement which the seller of the option grants the buyer the right to purchase (from, or to sell to), the seller, a designated (security) instrument at a specific price within a specified time frame (101). The seller is referred to as the writer, and the buyer’s payment is referred to as the option price or option premium.

Finally, when the option’s instrument is purchased or else sold, this transaction is referred to as exercising the option, and the price paid at the delivery of the option instrument is the strike price. The right to buy the option is a call option, and the right to sell the option is a put option (102). Options can also be written, or sold, on cash instruments or futures.

Combinations of derivatives and financial instruments create structures that have (had) significant risk/return and/or cost savings profiles.

Thus, ‘Structured Products’ are designed to provide investors with highly targeted investments correlated to their (the investor’s) specific risk profile, given the return requirements and market expectations as analysed by the investment bank.

The financial engineering tricke yields a ‘value’ for the derivative securities – based on combining the ‘underlyings’ (underlying security instrument) like shares, bonds, indices or commodities – with derivatives, to produce the projected values of the options, forwards, and swaps (103).

The process of hedging with futures is a bond or investment bank portfolio manager’s method of counteracting the risk involved in holding long term debt instruments, since derivatives are not disclosed on the balance sheet, due to their short-term nature (104). Swapping futures that have cash-streams gives the appearance of containing any risk of default of the debt instrument.

Moreover the issuers can avoid any SEC disclosure, since these contracts have not been required to be disclosed on their financial statements. For instance, in 1996, Wall Street traded $500 billion in Repos and $200 billion in currency and interest rate swaps every day, without disclosure (105).

• A Mortgage-Backed Certificate (MBC) is a ‘Structured Product’ that is backed by mortgages.

Such MBCs are issued by both the Federal Home Loan Mortgage Corporation, and the Federal National Mortgage Association. Other types of such certificate are guaranteed by the Government National Mortgage Association.

Investors in these instruments receive payments for the interest and principal paid on the underlying mortgages. Until the 7th September 2008, Mortgage-Backed Certificates and the secondary mortgage market was meant to have helped (in theory, at any rate) to keep mortgage money available for home financing purposes (106).

• A Collateralized Debt Obligation (CDO or CBO) is another type of ‘Structured Product’, comprised of investment-grade bonds backed by a pool of variously rated bonds, including junk bonds. CDOs represent different degrees of credit quality, rather than maturities. Underwriters of CDOs package a sizeable and diversified pool of bonds, including high-risk, high-yield junk bonds, which are then separated into TIERS.

Typically, the top tier represents the higher quality collateral (paying the lowest interest rates), the middle tier is backed by riskier bonds (i.e., bonds paying a higher interest rate), and the bottom tier represents the lowest credit quality with no fixed interest rate (paying residual interest payments – that is, money left over after the other tiers have been paid out) (107).

• A Collateralized Mortgage Obligation (CMO) is a mortgage-backed bond that separates mortgage pools into different maturity classes, called tranches.

This type of ‘Structured Product’ applies income from payments and pre-payments of principal and interest from the mortgages in the pool in the order that the CMO pays out. Tranches pay the income stream in different rates of interest with maturities from a few months to 20 years.

CMOs are issued by FREDDIE MAC and other private issuers, and they are backed by Government guarantees or by other top-grade mortgages with AAA ratings. However, if mortgage rates drop sharply, the resulting flood of refinancings of mortgages could cause pre-payments to soar; and in these circumstances, CDO tranches will be repaid before the expected tranche maturity (108).

• Collateralized Debt Obligations Cubed (CDO-CUBED) are so-called special-purpose vehicles or entities with securitised payments in the form of tranches. CDO-CUBED are backed by a pool of Collateralized Debt Obligation Squared (CDO-SQUARED) tranches. CDO-CUBED allow the banks to resell the credit risk that they have taken once again, by repacking their CDO-SQUAREDs (109).

• A CDO-SQUARED is a CDO in which the collateral portfolio or reference portfolio consists of other CDO tranches (110).

• Yet another ‘Structured Product’ is the Credit Default Swap (CDS), an instrument that was first developed in the late 1990s for bonds, loans, and similar instruments related to bank transactions. Within a CDS, one party (the protection buyer) buys protection on the credit or risk of default, and the other party or counter-party is the seller (the protection seller), who sells the credit protection.

The primary ‘benefit’ of the Credit Default Swap is its power as a new source of risk distribution – since it frees up regulatory capital, which facilitates additional business. Payout is linked to a credit event (default) and to the performance of a reference entity (i.e., the underlying obligor), not to a specific bilateral trade transaction. Interestingly, since there is no transfer of ownership of the underlying asset, the CDO tool solution can be cheaper and more flexible than an assignment of the underlying asset (111). These are the formal features of these exotic instruments.

PART FOUR: THE U.S. TREASURY SEIZES FNMA AND FHLMC
On Sunday, 7th September 2008, in the context of the exposures of massive financial fraud and meltdown revealed by this service, the (former) US Treasury Secretary, Mr Henry M. Paulson Jr., announced plans to take control of Fannie Mae (FNMA) and Freddie Mac (FHLMC), to replace the companies’ Chief Executives, and to provide up to $200 billion in capital to restore the enterprises or agencies to ‘financial health’ (112).

Paulson noted that more than $5 trillion of debt and mortgage-backed securities issued by Fannie and Freddie is owned by central banks and other investors worldwide.

He elaborated: ‘Failure of either of them would cause great turmoil in our financial markets here at home and around the globe’ (113).

The seizure transferred directly into the US Government’s hands control of the bulk of the secondary home mortgage market, and assumed direct responsibility for ‘solving the housing crisis’. It marked the total failure of the public-private experiment that was developed to create a robust home ownership environment for Americans, via companies with private shareholders seeking to maximise profits with public oversight and fiduciary responsibility (114).

In its attempt to bolster the US mortgage market, the US Treasury was to buy on the open market at least $5 billion of new mortgage-backed securities issued by Fannie Mae and Freddie Mac (115). Accordingly, this arrangement protects the investments of bondholders, including mutual funds that hold huge amounts of debt issued by both corporations.

The Treasury’s intervention also specifically assisted those investors such as Pacific Investment Management Company, the substantial Newport Beach, CA, bond manager, that had only recently purchased large amounts of mortgage-backed bonds.

Initially, Treasury was to purchase $1 billion of preferred shares in both of the former Government-Sponsored Enterprises. The preferred shares were to yield 10% and were to be senior to those issued earlier – thus giving the Government the first right to receive dividends.

The US Treasury was also to receive warrants that give the Government the right to a 79.9% share for a nominal amount.

The US Treasury further pledged to provide up to $200 billion to the companies so that they may survive despite heavy losses on mortgage defaults (116).

However, existing common shareholders would suffer a dilution of their shares and earnings if the Government exercises its warrants.

The preferred shareholders may fair better, since the Office of Thrift Supervision has stated that roughly 2% of the 829 companies that it regulates have a concentration in common or preferred shares of Fannie Mae or Freddie Mac surpassing 10% of their Tier 1 capital.

Regulators say they will work ‘to develop capital-restoration plans ‘to resolve this issue’’ (117).

The Treasury has imposed Conservatorships on the Federal National Mortgage Association (FNMA) and upon the Federal Home Loan Mortgage Corporation (FHLMC), with control and supervision of day-to-day operations to be provided by the Federal Housing Finance Agency, which is designated as the ‘regulator’ of the two entities.

This required the CEOs of Fannie Mae and Freddie Mac to step down, and the replacement of the firms’ Boards of Directors. Additionally, dividends on common and preferred stock were eliminated at both the enterprises. The entities could increase their guarantee mortgage-backed securities holdings without limits, and could still buy replacement securities for their portfolios (118).

Another aspect of this seizure was that the enterprises/agencies were provided with a back-stop credit facility. Secured loans were to be made available on an ‘as needed’ basis until the end of 2009, to be based on available collateral to match the requested loan. Loans were to be funded directly from the General Fund at the Federal Reserve Bank of New York. Such loans would not be extended with maturities beyond 31st December 2009 (119).

The US Treasury’s scheme limited the size of each of these enterprises’ mortgage portfolios to a maximum of $850 billion as of the end of 2009. Currently, the portfolios own or guarantee about $5.3 trillion in mortgages and related securities.

Effective beyond 2009, the Treasury intends the enterprises’ mortgage holdings to shrink by about 10% a year until each entity reaches $250 billion (120).

CHAPTER TWO:
THE LEGALISATION OF FINANCIAL CORRUPTION: DESCRIPTIONS OF THE RESULTING FINANCIAL FRAUDS AND SCAMS

DERIVATIVE SCAM METHODOLOGY:

MBS-CDO-CDS LOAN ORIGINATION
Loan origination begins with a prospective home buyer and with a valid mortgage seller, i.e., an individual makes an application for a mortgage loan from a mortgage bank. Upon the appropriate financial investigation, the applicant is approved as the mortgage borrower. A mortgage loan is a debt instrument giving conditional ownership of an asset, secured by the asset being financed.

The borrower gives the lender a mortgage in exchange for the right to use the property while the mortgage is in effect, and agrees to make regular payments of principal and interest. The mortgage lien is the lender’s security interest and is recorded in title documents in US public land records (UCC1). A mortgage involves real estate and is a long-term debt, normally 25-30 years (121).

Originally, mortgages were written exclusively as fixed-rate fully amortizing loans, but they have evolve dinto loans that are more flexible. Recent innovations in the packaging of mortgage loans for resale in the Secondary Mortgage Market to investors have helped to create a national market for mortgage lending and a wide variety of synthetic financial instruments (122).

The mortgage issuing bank executes and lodges a UCC1 at the appropriate office of public records in the local court house department (in the United States) as a matter of public information and also legal authority. The mortgage lien (UCC1) is subject to a code of US legislation governing various commercial transactions, including the sale of goods, banking transactions, secured transactions in personal property, and other matters that are designed to bring uniformity to these areas in the legislation of the various states that have adopted the Uniform Commercial Code (123).

The Mortgage Note is a written promise to repay a mortgage loan plus interest. This gives the lender a security interest in the mortgage property. The Mortgage Note is the Promissory Note stating the principal amount due, the rate of interest, and the terms for repayment of the funds advanced. The borrower signing the Note, and any cosigners, are personally liable to repay the debt – and are detailed in the UCC1 (124).

US Federal or private insurance programs that protect mortgage lenders against the default risk generally require mortgage insurance. The mortgage insurance premium is paid by the borrower. Federal insurance coverage is administered by the Federal Home Loan Housing Administration, and private mortgage insurance programs are administered by private insurance companies. Private mortgage insurance is provided by specialised insurance companies (125).

The mortgage banker originates mortgages for resale to investors, and derives income much like a merchant banker – via origination fees and servicing income.

Loans are sold in one or two ways: (a) By private placement of whole loans or pools of loans with a single investor, typically an institutional investor, such as an insurance company; or elee: (b) by issuance of securities that are backed by mortgage loans (126). [Note: The originating and early stages of the process are illustrated in the first chart, Figure One, not shown here].

INSTITUTIONAL ORIGINATION, SALE AND RESALE OF MBS, CDS & CDOs:
In this type of scam [Figure 2 in our printed edition], the investment banker (or firm) acts as the underwriter or agent serving as intermediary between the issuer (the mortgage banker, et al.) of the securities, and the investing public.

• A firm-commitment underwriting occurs when the investment banker, either as manager or participating member of an investment banking syndicate, makes outright purchases of new securities from the issuer and distributes them to dealers and investors – profiting on the spread between the purchase price and the public offering or selling price (127).

• A best effort offering is a conditional arrangement whereby the investment banker markets a new issue without underwriting it, acting as an agent rather than principal and taking a commission for whatever volume of securities the banker succeeds in marketing to parties who may not have performed adequate due diligence.

• Another type of conditional arrangement is referred to as a standby commitment, when the investment banker serves clients issuing new securities by agreeing to purchase for resale any securities not purchased by existing holders of rights (128).

The secondary mortgage market is defined as the buying, selling, and trading of existing mortgage loans and mortgage-backed securities that have been underwritten and packaged for resale – to provide liquidity for the originating lending institution (129). Mortgages originated by the lenders are purchased by Government agencies (namely, the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association), and by investment bankers, (such as (formerly) Lehman Brothers, and by Goldman Sachs, etc.).

These agencies and bankers, in turn, create pools of mortgages, which they repackage as mortgage-backed securities, called Pass-Through Securities or Participation Certificates, which are then sold to investors. Thus, the secondary mortgage market encompasses all activity beyond the Primary Market, which is between the homebuyers and the originating mortgage lender (130).

• Pass-Through Securities represent pooled debt obligations repackaged as shares, that pass income from debtors through the intermediary, to investors. The most common type of so-called pass-through is a bog standard Mortgage-Backed Certificate, usually Government-guaranteed, where homeowners’ principal and interest payments pass from the originating bank or Savings and Loan through a Government agency or investment bank to investors, net of service charges. Other types of assets marketed via pass-through are auto loans and/or student loans (131).

• Additionally, Participation Certificates represent an interest in a pool of funds or in other instruments, such as a mortgage pool (132).

• The underwriting process of creating a pooled debt obligation is the business of investment bankers, who usually form an underwriting group, (a purchase group or syndicate), to pool the risk and assure ‘successful’ distribution of the issue.

The syndicate operates under an agreement among underwriters. The underwriting group appoints a managing underwriter or lead underwriter, who/which is usually the originating investment bank/ banker that prepares the plan details and the SEC registration material (133).

The underwriting agreement represents the underwriters’ commitment to purchase the securities, and gives details of the public selling price, the underwriting spread, including all discounts and commissions, the net proceeds to the issuer, and the settlement date. The issuer agrees to pay all expenses incurred in preparing the issue for resale, including the costs of registration with the SEC and of the prospectus, and agrees to supply the managing underwriter with sufficient copies of both the preliminary prospectus and the final, statutory prospectus (134).

The issuer guarantees:

(1) To make all required SEC filings and to comply fully
with the provisions of the Securities Act of 1933;

(2) To assume responsibility for the completeness, accuracy,
and proper certification of all information in the registration statement and prospectus;

(3) To disclose all pending litigation;

(4) To use the proceeds for the purposes stated;

(5) To comply with State securities laws;

(6) To work to get listed on the agreed-upon exchange; and

(7) To indemnify the underwriters for liability arising out of omissions
or misrepresentations for which the issuer had responsibility (135).

• Figure 1 on page 25 [of the journal: see Special Chart Note below] provides a flowchart to illustrate how these MBS/CDO/CDS scams are structured and develop, identifying the primary institutions involved. This chart is reproduced exactly as supplied to us by our expert adviser, Michael C. Cottrell, B.A., M.S., with visual enhancement by the Editor of this service.

• Figure 2 on page 27 [of the journal: see Special Chart Note below] ‘zooms’ in on the right-hand component of Figure 1, showing how the institutional resale of the MBS/CDS/CDOs is scammed internationally, showing the underwriting, issuing, selling, and the purchasing of the mortgage-backed securities of FNMA and FHLMC via pooled securitisation.

As noted, prior to 8th September, 2008, FNMA and FHLMC were both Government Sponsored Enterprises (GSEs) which owned or guaranteed approximately 50% of the mortgage market in the United States, aggregating over $5 trillion of outstanding debt and mortgage-backed securities issued by them (136). As publicly traded securities, these GSE-issued mortgage-backed securities were purchased by other mortgage originators, securitised by them, and ‘re-sold’ by them as mortgage-backed securities to other investors (137).

The referenced world-wide institutions shown in Figures 1 and 2 – Goldman Sachs, A.I.G., Lehman Brothers, Morgan Stanley. Citibank. JPMorganChase, Wachovia, Deutsche Bank, Barclays Bank, Bank of England, NatWest [RBS], Coutts [RBS], General Motors, Ford Motor Company and General Electric – purchased, re-packaged, and re-sold the various ‘Structured Products’ under the guise of offsetting the risks of the ‘challenging market environment’, according to numerous financial experts who ventilated on this subject between 2001 and September 2008.

Even after the credit freeze that developed following the measures taken in mid-September 2008 in the United Kingdom which resulted in the placement into ‘lockdown’ of $6.2 trillion of LOAN funds plus $7.8 trillion of sovereign funds for the Settlements (= $14.0 trillion) referenced in our website reports – thereby depriving the carousel of its illegally exploited ‘real’ cash base – there have been innumerable attempts to induce the public to view ‘Structured Products’ in a positive light.

For instance, on 5th November 2008, The Wall Street Journal displayed more than one full page describing the advantages and values of ‘Structured Products’ and why investors should continue to buy them, promoting them as tools to help manage volatility and to protect portfolios (138).

WALL STREET JOURNAL COMMENTS ON ‘STRUCTURED PRODUCT’ TYPES
Regarding the standard types of ‘Structured Products’, the article stated that some use leverage to enhance upside returns and may or may not cap (limit) the upside.

• Absolute Return Notes: Pay returns if the underlying (security) goes up or down but are not traded outside a specific range (139).

• Buffered Return Enhance Notes:
Provide downside protection if the ‘underlyings’ do not breach a preset barrier, while Reverse Convertible Securities pay handsome coupons and the performance upside of a stock; but if the stock breaches a downside price, they will convert into that stock’s shares (140).

There are also Partial- or Fully Principal-Protected Notes, which guarantee that some or all of an investor’s principal will be returned at maturity even if the underlying performs poorly (141).

The Wall Street Journal article elaborated:

‘Issuers of Structured Products are large investment banks or affiliated firms in the United States or around the world. Issuers may craft a structured investment that they believe would appeal to many investors, then sell these so-called ‘off-the-shelf’ investments’ through large, regional or independent broker/dealers, and/or financial planners. An issuer may also customize a single Structured Product tailored to a specific investor’s needs’ (142).

Additionally, the WSJ article concluded that ‘… one important aspect with structured investments is to understand the credit risk in the product, i.e., the risk that an issuer may not be able to honor its obligation to repay investors in the future is a risk inherent in many Structured Products…’ (143).

NEW DERIVATIVE SCAMMING LEGISLATION:
THE EMERGENCY ECONOMIC STABILIZATION ACT OF 2008

Public Law 110-343, also known as The Emergency Economic Stabilization Act of 2008, was signed into law by President Bush Jr. on 3rd October 2008.

Within this act was also enacted the Troubled Assets Relief Program (TARP) which authorised the US Secretary of the Treasury to spend up to $700 billion to purchase distressed assets. The Act stated that its purpose is: ‘To provide authority for the Federal Government to purchase and insure certain types of troubled assets for the purposes of providing stability to and prevent disruption in the economy and financial system and protecting taxpayers, to amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes’ (144).

The law authorised the Secretary of the Treasury to draw up to $250 billion for immediate use, and then required the President of the United States to certify when an additional $100 billion of funds are needed. Disbursement of the final $350 billion was subject to Congressional approval (145).

Mr Neel Kashkari was appointed on 6th October 2008, by Treasury Secretary Paulson, as the interim head of the Office of Financial Stability , formed under the legislation, and was tasked to administer the TARP program (146).

The Troubled Assets Relief Program has several administrative units:

(1) A Mortgage-backed Securities Purchase Program – to identify which of the troubled assets should be purchased, and the purchase mechanism to be used;

(2) A Whole Loan Purchase Program – to identify which types of loans should be purchased first from regional banks, and how to value them, since the banks are clogged with whole residential mortgage loans;

(3) An Insurance Program – to establish a viable scheme to insure troubled assets, including mortgage-backed securities and whole loans;

(4) An Equity Purchase Program – to purchase equity in a broad array of financial institutions; and

(5) A Home Ownership Preservation Scheme – to help US homeowners when TARP purchases mortgages and MBS securities, and other ‘Structured Products’ (147).

However, by 12th October 2008, it had become evident that TARP as described to Congress and as administered by the Office of Financial Stability could not be operated in accordance with the legislation and described above.

On 23rd September 2008, Treasury Secretary Paulson had told the US Senate Banking Committee that ‘some said we should just stick capital in the banks, take preferred stock in the banks. That’s what you do when you have failure, this is about success’(148). Mr Paulson also told lawmakers that it made more sense to jumpstart the frozen credit markets (frozen over, due to the MBS-CDS-CDO illiquidity) with ‘market measures’, by which he meant buying up assets rather than institutions (149). Then, within a few days, Mr Henry M. Paulson Jr. confirmed his intention to buy stakes in banks by asserting that: ‘We can use the taxpayer’s money more effectively and efficiently, get more for the taxpayer’s dollar, if we develop a standardized program to buy equity in financial institutions’(150).

The Treasury was the source of the US Federal Government’s plan, under the disreputable Bush II Administration, to buy up to $700 billion worth of illiquid Mortgage-Backed Securities (MBS) with the supposed intent to increase liquidity availability in the secondary mortgage markets and to reduce potential losses by financial institutions owning these securities (151).

TARP was sold to Congress on the basis that the US Treasury would spend the $700 billion on the frozen credit securities in a ‘reverse auction’ whereby financial institutions are invited to compete against each other in offering to sell their mortgage-backed securities at a low price.

Bonds for a single pool of mortgages are divided into more than a dozen tranches, with different seniority, different credit ratings, and different rules for payment.

The performance of the underlying mortgages (‘the underlyings’) varies greatly from one pool to another. It was against this background that Mr William Poole, a retired President of the Federal Reserve Bank of St. Louis, stated: ‘I am not aware that the Treasury Department presented any evidence on auctions that have been successful when they are used for assets that are so heterogeneous’(152).

THE TARP OPERATION AND MR KASHKARI
Within Public Law 110-343, Congress required the formation of a Congressional Oversight Panel to ensure the proper usage and expenditure of the TARP funds. (This development replicated and probably copied Mr Cottrell’s demand for the insertion of an Oversight Panel when it transpired early in 2008 that any transactions involving Leo/Lee Wanta could not be contemplated without such a safeguard – prior to the necessary and unavoidable severance of relations between Mr Cottrell and Wanta, publicised on our website in March 2008 and by this service).

The Interim Assistant Secretary for Financial Stability, Neel Kashkari, submitted an update on 8th December 2008, with respect to the oversight arrangements made for the Troubled Assets Relief Program (153) (TARP). An appointed Oversight Panel Board selected the Federal Reserve Board Chairman, Dr Ben Bernanke, to be Chairman of the Oversight Board. The legislation required the Board to meet once a month, but it met five times in the space of two months, with numerous staff calls between meetings. Additionally, the law required the appointment of a Senate-confirmed Special Inspector General to oversee the program (154).

The legislation also required the Government Accountability Office (GAO: previously the more appropriately named Government Accounting Office) to establish a physical presence inside the US Treasury to monitor the TARP.

The US Treasury duly provided workspace for the auditors within days of the President signing the law, and the Treasury Secretary, Mr Paulson, had his first call with the Acting Comptroller General, Mr Gene Dodaro, on Tuesday 7th October 2008. The Acting Comptroller General and his team met the US Treasury’s team for the first time on Thursday 9th October 2008.

Subsequently, Mr Kashkari participated in multiple briefings with the GAO and the respective staffs met almost daily for ‘program updates’, and to review contracts (155).

The GAO’s very conscientious staff met the Treasury’s team on Saturday 22nd November 2008, before their report was finalised. The GAO’s report provided a review of the TARP programs and progress – essentially a snapshot at the 60-day mark of this large and complex project (156).

The law required the US Treasury to publish a Transaction Report within two business days of completing each transaction. The US Treasury proceeded to publish four transaction reports – on 29th October 2008, 17th November, 25th November, and 26th November 2008 – covering the 54 transactions then competed (157).

The law also required the US Treasury to publish a Tranche Report to Congress within seven days of each $50 billion commitment that has been made.

The comprehensive Tranche Report must provide details on the following:

• The transactions undertaken to date.

• The impact of these transactions on the financial system.

• The challenges that remain to be addressed: plus:

• Additional measures that may be necessary to address those challenges.

The US Treasury published, to begin with, three Tranche Reports – on the 3rd November, 21st November, and 2nd December 2008 (158).

Further, the law required the Treasury to provide a detailed report on the overall program within 60 days of the first exercise of the TARP purchase authority.

That report was submitted to the Congress on 5th December 2008 (159). At this stage, Mr Kashkari stated in public that ‘we must remember that just over half of the money that was allocated to the Capital Purchase Program has been received by the banks’ (160).

On Monday 8th December 2008, the US Senate confirmed New York Prosecutor Neil Barofsky as the Special Inspector General within the Treasury Department who was responsible for auditing TARP. On that self-same day, the US Treasury Department released a statement notifying Congress that it had committed a total of $335 billion to financial-rescue programs since October 2008. This amount left $15 billion remaining in the first tranche of $350 billion approved by Congress (161).

HOW THE LEGISLATION ASSISTED THE FINANCIAL FRAUDSTERS:
THE PAULSON TREASURY’S TARP $700 BILLION PLATFORM SCAM

Figure 3 [of the journal: see Special Chart Note below] illustrates the process of taking the private mortgage, commercial mortgage, credit card loans, and/or any other fungible debt, and via the underwriting group or underwriting trust pool, and turning that debt into a securitised ‘Structured Product’ to be pooled and sold into the global institutional market place.

The boxes in the ICR charts indicating ‘Pool A-1’ etc. represent the securitised pools of mortgages, and other ‘assets’, and the various tranches of these ‘Structured Products’.

These tranches and/or pools are then sold on to the banks, investment banks, and ‘financial products’ companies for re-sale and/or re-packaging and then re-sale to international banks, investment banks, and corporations.

Treasury Secretary Henry Paulson’s TARP plan to obtain unlimited authority over $700 billion was premised on the basis that via a reverse auction, the structured products/derivatives could be purchased by the Treasury TARP group and re-packaged, via the new FNMA and FREDDIE MAC, and then re-sold at a profit.

BASED ON THE FALSE PRESUMPTION THAT THE ‘ASSETS’ HAVE VALUE
This operation assumed that the illiquid derivatives have a specific value or a market value.

Such an assumption is definitely false, since there is NO actual and specific asset that is directly attached to the structured product – given the obvious fact that the asset was split from the locally filed UCC-1 that defines who is the mortgagee and mortgagor, and who has legal claim to the asset once the mortgage or debt is paid in full.

• IN OTHER WORDS, holders of these fake, exotic ‘assets’ have no recourse to the original underlying source(s) of ‘real money’ funds.

SEPARATION OF THE ASSET AND THE LEGAL AUTHORITY TO CLAIM THE ASSET
This separation of the asset and the legal authority to claim the asset occurred during the financial securitisation process of pooling, re-pooling, and re-packaging – supposedly (for international public consumption) to spread the risk of default to as many holders as possible – thus furthering the development of the Credit Default Swap derivatives market.

The typical CMO (‘Structured Product’) has ‘A’, ‘B’, ‘C’, and ‘Z’ tranches, representing fast pay, medium pay, and slow pay bonds plus a tranche that bears no coupon but receives cash flow from the collateral remaining after all the other tranches are satisfied (see previous discussion) (162).

More sophisticated CMOs have multiple ‘Z’ tranches and a ‘Y’ tranche incorporating a sinking funds schedule (163).

Figure 3 illustrates a non-public TARP program, prior to the appointment of Mr. Kashkari, et al. and the Congressional Oversight Panel restrictions.

Under the guise of a government ‘bailout’ theme and marketed to Congress and the US general public as being for the purpose of buying the illiquid asset-backed securities, Treasury Secretary Paulson intended to operate TARP as a Trading Platform – that is to say, as an International Hedge Fund benefiting from US Government Guarantees – from within Treasury (behaviour which has hitherto been completely illegal) to purchase, at a higher price than necessary, the CDO, CDS, MBS etc. derivatives from the very entities and banks that have directly contributed to the mass-production and sale of these toxic illiquid ‘Structured Products.

The purpose of this Trading Platform was/is therefore to use public funds to quantify the value of the toxic products, and to overpay the elitist holders, i.e.: the likes of leading Fraudulent Finance specialists, viz: AIG, CITIBANK, GOLDMAN SACHS, CARLYLE CAPITAL, CARLYLE GROUP.

BECAUSE, once the ‘Structured Products’ had been valued, via reverse auction, and purchased, Paulson and his friends would then be able to re-pool and re-package the relevant derivatives via FNMA and FHLMC for re-sale into the demonstrably gullible marketplace, where the phrase ‘due diligence’ appears to be foreign to many operators in the market – thereby repeating the process for as long as possible.

Profits from this Trading Platform could then be transferred to an unknown Master Custodial Account set up within the external international monetary system – such as a receptacle set up for this purpose by President George W. Bush Jr. in Benin, West Africa – without the knowledge of, or any accountability to, the American Taxpayer, the US tax authorities, or anyone else.

CONCLUSION:

Thus, public funds were to be used yet again to generate private accruals, while a massive fraud would be concealed under cover of the necessity of ‘managing’ the illiquidity of the ‘Structured Products’ and regaining credit flow within the international banking system. See the flow charts: Figures 1-3 in the International Currency Review presentation [see Special Chart Notes below]

References and Notes:

General Note: Some use has been made of references captured via Wikipedia, an on-line ‘do-it-yourself’ encyclopaedia. The Editor is not enamoured of these ‘communising’ websites which seek to make information universally available, given that a hidden agenda may apply in some cases. For instance, a certain US platform allows its ‘users’ to upload copyrighted material and then says that it is compliant with US legislation if the illicit upload of the copyrighted material is pointed out to them: in other words, the entity specifically claims that it is not required to perform due diligence and has no duty of care with regard to infringements of copyright belonging to others.

In that case, it is known that the object of the exercise is to steal the copyright material and to drive small publishers out of business. It is the Editor’s specific experience that alteration of errors on Wikipedia has been followed by the restoration of those errors. In the instances noted below, Mr Cottrell has ‘seen through’ Wikipedia to the original sources, which should be referenced should further research be intended.

01. Michael C. Cottrell, ‘Elite Power and Capital Markets’, (Master of Science Thesis, Mercyhurst College, 2001), page 81.
02. Ibid., page 81.
03. Cottrell, ‘Elite Power and Capital Markets’, page 80.
04. Cottrell, ‘Elite Power and Capital Markets’, page 80.
05. Cottrell, ‘Elite Power and Capital Markets’, page 80.
06. Cottrell, ‘Elite Power and Capital Markets’, page 79.
07. Cottrell, ‘Elite Power and Capital Markets’, page 83 (383).
08. Cottrell, ‘Elite Power and Capital Markets’, page 82 (384).
09. Cottrell, ‘Elite Power and Capital Markets’, page 82 (385).
10. Cottrell, ‘Elite Power and Capital Markets’, page 85 (407, 409, 410, 411).
11. Cottrell, ‘Elite Power and Capital Markets’, page 85.
12. Cottrell, ‘Elite Power and Capital Markets’, page 85 (414, 415, 416, 417).
13. Cottrell, ‘Elite Power and Capital Markets’, page 86 (418, 419).
14. Cottrell, ‘Elite Power and Capital Markets’, page 86 (420).
15. Cottrell, ‘Elite Power and Capital Markets’, page 86 (422).
16. Cottrell, ‘Elite Power and Capital Markets’, page 86 (424).
17. Cottrell, ‘Elite Power and Capital Markets’, page 86-87 (425, 426, 427).
18. Ibid., page 81.
19. Federation of American Scientists, ‘BCCI-CAPCOM’, Washington, D.C., 2008,
(available at http://www.fas.org/irp/congress/1992_rpt/bcci/21capcom.htm), Internet, page 2.
20. Ibid., page 2.
21. Ibid., page 2.
22. Cottrell, ‘Elite Power and Capital Markets’, page 87.
23. Cottrell, ‘Elite Power and Capital Markets’, page 87.
24. Ibid., page 87.
25. Ibid., page 87.
26. Cottrell, ‘Elite Power and Capital Markets’, page 88.
27. Ibid., page 88.
28. Bevis Longstreth, Securities and Exchange Commission Commissioner, ‘Open Letter to Bush Task Group on Regulation of Financial Services and Wirth Commission on Capital Markets’, Securities and Exchange Commission, Washington, D.C., 1983, (available for access at: www.sec.gov/new/speech/1983/040883longstreth), page 5.
29. Ibid., page 5.
30. Ibid..
31. Ibid..
32. Ibid., page 6.
33. Ibid..
34. Ibid..
35. Ibid., page 7.
36. Ibid..
37. Ibid., page 9.
38. Ibid., page 10.
39. Ibid., page 12.
40. Ibid., page 13.
41. John S. R. Shad, Chairman, ‘50th Annual Report of U.S. Securities and Exchange Commission for the fiscal year ended September 30, 1984’, U.S. SEC Library, Washington, D.C., 1984, (available at http://www.sec.gov/about/annual_report/1984), Internet, page 42.
42. John S. R. Shad, op. cit.
43. Ibid., page 42.
44. Ibid., page 42.
45. Cottrell, ‘Elite Power and Capital Markets’, page 124.
46. Cottrell, ‘Elite Power and Capital Markets’, page 124.
47. Wikipedia, Dan Brody, ‘The Iron Triangle: Inside the Secret World of the Carlyle Group’, John Wiley & Sons, 2003, ISBN 0-471-281085.
48. Wikipedia, John Mintz, ‘Founder Going Beyond the Carlyle Group.’, The Washington Post, 9th January 1995, F9.
49. Thomas Heath, ‘Pair of Proposals Take Aim at Carlyle Group’, The Washington Post, 15th February 2008, (at http://www.washingtonpost.com/wpdyn/content/article/ 2008/02/14AR2008021403573.html).
50. Wikipedia, ‘Carlyle Group’, (at http://en.wikipedia.org/wiki/Carlyle_Group), page 1.
51. Cottrell, ‘Elite Power and Capital Markets’, page 169 (10, 11, 12, 13).
52. Cottrell, ‘Elite Power and Capital Markets’, page 169 (14, 15, 16, 17, 18, 19, 20, 21, 22).
53. Cottrell, ‘Elite Power and Capital Markets’, page 169.
54. Cottrell, ‘Elite Power and Capital Markets’, page 169.
55. Cottrell, ‘Elite Power and Capital Markets’, page 170 (23, 24).
56. Cottrell, ‘Elite Power and Capital Markets’, page 170 (25).
57. Cottrell, ‘Elite Power and Capital Markets’, page 170.
58. Cottrell, ‘Elite Power and Capital Markets’, page 170 (27, 28, 29).
59. Cottrell, ‘Elite Power and Capital Markets’, page 170 (29, 30).
60. Wikipedia, ‘Enron: Enron Creditors Recovery Corporation’, Wikipedia Foundation, Inc., 2008, (available at http://www.wikipedia.org/enron/enrononline), Internet, page 6.
61. Wikipedia, ‘Enron’, Alex Berenson and Richard A. Oppel, Jr. ‘Once-mighty Enron Strains under Scrutiny’, The New York Times, 28th October 2001, page B1.
62. Wikipedia, ‘Enron’, Richard A. Oppel, Jr. ‘Enron seeks additional financing’, The New York Times, 29th October, 2001, page A8-A9.
63. Ibid., ‘Enron credit rating is cut, and its share price suffers; concern increasing on borrowing capacity’. (Moody’s Investors Service lowers credit rating), The New York Times, 30th October 2001, page C2.
64. Wikipedia, ‘Enron: Enron Creditors Recovery Corporation’, page 9-10.
65. US Government information. ‘Enron: Crouching Profits, Hidden Debt’, Diamar Interactive Corporation, 1996, (available at http://www.about.com), Internet, page 1.
66. Ibid., page 2.
67. Ibid., page 2.
68. Cottrell, ‘Elite Power and Capital Markets’, page 171 (32).
69. US Government Information. ‘Enron: Crouching Profits, Hidden Debt’, page 1: See also Note 65.
70. Cottrell, ‘Elite Power & Capital Markets’, page 134. (162), Richard M. Whiting, ‘Promises Finally Kept: Glass-Steagall Repealed…and More’, The Journal of Lending & Credit Risk Management, [Lexis-Nexis] (Robert Morris Associates/Information Access Company, 2000, accessed 27 December 2001) from:http://www.nexis.com/research; Internet.
71. Ibid..
72. Financial Services Modernization Act, CRA Amendments in the Gramm-Leach-Act,
(available from http://www.banking.senate.gov/conf/grmleach.htm) page 1.
73. Ibid..
74. Cottrell, ‘Elite Power & Capital Markets’, page 134. (166), Congress, Senate, Committee on Banking, Housing, and Urban Affairs. The Gramm-Leach-Bliley Act: Financial Services Modernization. 106th Congress, 1st Session, 24 and 25 February 1999, page 204-205.
75. Cottrell, “‘Elite Power and Capital Markets’, page 134. (167), Richard M. Whiting, ‘Promises Finally Kept: Glass-Steagall Repealed…and More’, The Journal of Lending & Credit Risk Management. [Lexis-Nexis] (Robert Morris Associates/Information Access Company, 2000, accessed 27 December 2001) from http://www.nexis.com/research; Internet.
76. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds.,
‘Dictionary of Finance and Investment Terms’ s.v. ‘Merchant Bank’.
77. Glenn G. Munn, F.L. Garcia and Charles J. Woelfel, eds., ‘Encyclopedia of Banking & Finance’, 10th Ed., Chicago: Probus Publishing, 1994, (Electronic Portion, Orem: Infobase Press, 1994), s.v. Federal National Mortgage Association.
78. Ibid., page 1.
79. Ibid., page 1.
80. Ibid., p.2.
81. Glenn G. Munn, F.L. Garcia and Charles J. Woelfel, eds., ‘Encyclopedia of Banking & Finance’, 10th Ed., Chicago: Probus Publishing, 1994, (Electronic Portion, Orem: Infobase Press, 1994), s.v. Federal Home Loan Mortgage Corporation
82. Ibid., page 1.
83. Ibid., page 1.
84. Ibid., page 1.
85. Ibid., page 1.
86. Ibid., page 2.
87. Ibid., page 2.
88. Ibid., page 2.
89. Ibid., page 2.
90. Ibid., page 2.
91. Ibid., page 3.
92. Ibid., page 3.
93. Wikipedia, ‘Structured Product’, Securities Exchange Commission, (available at http://sec.gov/division/corpfin/forms/regc.htm#delivery), page 1.
94. Robert W. Hamilton, ‘Corporations’, 4th Ed., St. Paul, Minn.: West Publishing Company, 1997, page 593.
95. Ibid.. page 593.
96. Cottrell, ‘Elite Power and Capital Markets’, page 145. (248) Frank J. Fabozzi with T. Dessa Fabozzi and Irving M. Pollack, ‘The Handbook of Fixed Income Securities‘, 3rd Ed., New York: Richard D. Irwin, Inc., 1991, page 669.
97. Cottrell, ‘Elite Power and Capital Markets’, page 145 (249) Downes, ‘Dictionary of Finance and Investment Terms’, s.v. ‘Futures Contract’.
98. Cottrell, ‘Elite Power and Capital Markets’, page 145-146. (248) Frank J. Fabozzi with T. Dessa Fabozzi and Irving M. Pollack, ‘The Handbook of Fixed Income Securities‘, 3rd Ed., New York: Richard D. Irwin, Inc., 1991, page 670.
99. Cottrell, ‘Elite Power and Capital Markets’, page 146. (248) Frank J. Fabozzi with T. Dessa Fabozzi and Irving M. Pollack,‘The Handbook of Fixed Income Securities‘, 3rd Ed., New York: Richard D. Irwin, Inc., 1991, page 671.
100. Ibid,.
101. Cottrell, ‘Elite Power and Capital Markets’, page 146. (248) Frank J. Fabozzi with T. Dessa Fabozzi and Irving M. Pollack, ‘The Handbook of Fixed Income Securities‘, 3rd Ed., New York: Richard D. Irwin, Inc., 1991, page 670.
102. Cottrell, ‘Elite Power and Capital Markets’, page 146. (248) Frank J. Fabozzi with T. Dessa Fabozzi and Irving M. Pollack, ‘The Handbook of Fixed Income Securities‘, 3rd Ed., New York: Richard D. Irwin, Inc., 1991, page 672.
103. Wikipedia, ‘Structured Product’, page 3.
104. Cottrell, ‘Elite Power and Capital Markets’, page 146. (255) Roger Lowenstein, ‘When Genius Failed: The Rise and Fall of Long-Term Capital Management’, New York: Random House, 2000, page
105. Cottrell, ‘Elite Power and Capital Markets’, page 146. (256) Roger Lowenstein, ‘When Genius Failed: The Rise and Fall of Long-Term Capital Management’, New York: Random House, 2000.
106. Downes, ‘Dictionary of Finance And Investment Terms’, s.v. ‘Mortgage-Backed Certificate’.
107. Downes, ‘Dictionary of Finance And Investment Terms’, s.v. ‘Collateralized Debt Obligations’.
108. Downes, ‘Dictionary of Finance And Investment Terms’, s.v. ‘Collateralized Mortgage Obligations’.
109. ‘Collaterized Debt Obligation Cubed – CDO CUBED’, Investopedia, ULC, 2008.
110. ‘CreditFlux Dictionary’, CreditFlux Ltd., 2008, at http://www.creditflux.com/glossary; Internet.
111. JPMorgan Chase & Co., ‘Credit Default Swaps and Trade: A Useful Tool for Distributing Risk.’, JPMorgan Chase & Co., 2008.
112. James R. Hagerty, Ruth Simon, and Damian Paletta, ‘U.S. Seizes Mortgage Giants’,
The Wall Street Journal, 2008, September 8, 2008, page A1.
113. Ibid., page A15.
114. Ibid., page A15.
115. Ibid., page A15.
116. Ibid., page A15.
117. Ibid., page A15.
118. Ibid., page A15.
119. Ibid., page A15.
120. Ibid., page A15.
121. Thomas Fitch, ‘Dictionary of Banking Terms’, 3rd Edition, Hauppauge: Barron’s Educational Series, Inc., 1997, s.v. ‘Mortgage’.
122. Ibid..
123. Steven H. Gifis, Law Dictionary. 2nd Edition, Hauppauge: Barron’s Educational Series, Inc., 1984, s.v. ‘Uniform Commercial Code’ [UCC].
124. Thomas Fitch, ‘Dictionary of Banking Terms’, s.v. ‘Mortgage Note’.
125. Thomas Fitch, ‘Dictionary of Banking Terms’, s.v. ‘Mortgage Insurance.’.
126. Fitch, ‘Dictionary of Banking Terms’, s.v. ‘Mortgage Banker’.
127. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘‘Dictionary of Finance and Investment Terms’, 7th Edition., Hauppauge: Barron’s Educational Series, 2006, s.v. ‘Investment Banker’.
128. Ibid..
129. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Secondary Mortgage Market’.
130. Ibid..
131. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Pass-Through Security’.
132. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Participation Certificate’.
133. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Underwrite’,
134. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Underwriting Agreement’.
135. Ibid..
136. Blackrock, ‘Government Takeover of Fannie Mae and Freddie Mac’, Blackrock, Inc., 2008, (available at http://www.blackrock.org), p.1.
137. Ibid..
138. Lori Pizzani, ‘Structured Investment Products, Tools to Help Manage Volatility, Protect Portfolios’,
The Wall Street Journal, November 5, 2008, Dow Jones: New York, 2008, page C11.
139. Ibid..
140. Ibid..
141. Ibid..
142. Ibid..
143. Ibid..
144. Wikipedia, ‘Public Law 110-343’.
145. Wikipedia, ‘Troubled Assets Relief Program’, Summary of the Emergency Economic Stabilization Act of 2008 (http://banking.senate.gov/public/_files/latestversionEESASummary.pdf), United States Senate Committee on Banking, Housing and Urban Affairs, page 1.
146. Deborah Solomon, ‘Regulators Outline Steps to Quell Crisis’, The Wall Street Journal, Dow Jones: New York, October 7, 2008, page A6.
147. Wikipedia, ‘Troubled Assets Relief Program’, http://www.accountability-central.com/single-view-default/article/treasury-update-on-implementation-of-troubled-asset-relief-program-tarp-before-institute-of-intern, Internet, page 1.
148. Edmund L. Andrews and Mark Landler, ‘White House Overhauling Rescue Plan’,
The New York Times, October 12, 2008, http:///www.nytimes.com/2008/10/12/business, Internet, p. 3.
149. Ibid..
150. Ibid..
151. Wikipedia, ‘Emergency Economic Stabilization Act of 2008’, AP Article: ‘Rescue Plan Seeks $700 Billion to Buy Bad Mortgages’, (http://www.nytimes.com/aponline/business/AP-Financial-Meltdown.html) article by The Associated Press in The New York Times September 20, 2008.
152. Ibid., page 4.
153. Herbie Skeete, ‘US Treasury Interim Assistant Secretary For Financial Stability Neel Kashkari Update on The TARP Program’, Mondo Visione Ltd: London, 2008, available at: http://www.mondovisione.com/index.cfm/section=news&;action, page 1.
154. Ibid., page 2.
155. Ibid., page 2.
156. Ibid..
157. Ibid., page 3.
158. Ibid., page 3.
159. Ibid..
160. Ibid., page 4.
161. Maya Jackson Randall and Michael R. Crittenden, ‘Treasury Could Improve Management of TARP’, The Wall Street Journal, December 9, 2008, Dow Jones: New York, 2008, page C4.
162. John Downes, A.B., and Jordan Elliot Goodman, A.B., M.A., eds., ‘Dictionary of Finance and Investment Terms’, s.v. ‘Tranches’.
163. Ibid..

Captions to the charts that appear in International Currency Review Volume 34, Number 2 [March 2009] but are not shown in this website presentation:

Figure 1, page 25 of the journal: MBS-CDO-CDS scam (Fraudulent Finance) flowchart, showing how a single loan triggering one solitary cashflow of mortgage payments is typically leveraged and intermingled with other such origination cashflows into exotic ‘derivatives’ known as ‘Structured Products’ via pools which are sold on to investment banks before being marketed internationally, where the US securities legislation (the 1933 and 1934 Securities Acts) does not apply. There is no precedent for such colossal OFFICIALLY organized fraud.

Figure 2, page 27 of the journal: MBS-CDO-CDS scam (Fraudulent Finance) flowchart: Institutional sale and resale of so-called ‘Structured Products’ that have zero intrinsic value because beyond the originating Mortgage Bank, none of the subsequent parties enjoys prospective access to the single originating stream of funds. As a former Goldman Sachs official, speaking privately, told the Editor of this service: ‘These ‘assets’ are worth what someone is prepared to pay for them’.

Since they have been comprehensively discredited, except among those compartmentalised intermediaries, bankers, intelligence cadres and others who may not yet be ‘up to speed’ (if any such creatures remain, which given developments since September 2008, logic would suggest is unlikely), ‘what someone is prepared to pay for them’ effectively means nothing. As Mr Michael C. Cottrell’s narrative shows, the Paulson Treasury TARP operation had as one of its hidden purposes the injection of ‘value’ into worthless hybrid collectivised ‘assets’.

• Addendum: Of course, this is the PRIMARY OBJECTIVE of both the Geithner TARP deception and its Obama Administration successor schemes.

Figure 3, page 33 of the journal: This chart shows how the routine operations of the Fraudulent Finance ‘Money Machine’ were to be ‘revalidated’ via the Paulson Treasury’s Troubled Assets Relief Program (‘TARP’) enacted within the Emergency Economic Stabilisation Act of 2008, signed into law by President George W. Bush Jr. on 3rd October 2008. Specifically, the diagram exposes the fact that $700 billion of US taxpayers’ funds and new Federal Government debt was in fact to be deployed for the specific benefit of Carlyle, Carlyle Capital, George Bush Sr., James Baker and others, who are responsible for the financial crisis not least by blocking the sole answer: the On-the-books Refunding Program.

• NOTE:
In further work we’ve done on this subject, we have extended these charts to demonstrate that the Geithner TALF Plan is specifically intended for the same purpose: to refund the likes of Carlyle and Carlyle Capital, under cover of purporting to be specifically designed to ‘stimulate’ the economy.

Unlike the private sector Refunding Programme agreed by the Group of Seven financial powers in 2007 and 2008, the Paulson-Geithner ‘solution’ theoretically generates revenue all right (assuming there are any fools out there internationally who will fall for this new generation of officially driven derivatives Ponzi scamming) while perversely and unnecessarily generating colossal mountains of Treasury debt on the other side of the balance sheet of the US Federal Government

In this context, revenues generated from this ‘Legitimised Fraudulent Finance’ will yield, say, 35% in tax accruals – always provided the proceeds are held on-balance sheet, contrary to the practice hitherto of holding the proceeds off-balance sheet in offshore accounts and untaxed (tax evasion); whereas 100% of official debt will have been UNNECESSARILY created in the background: thereby mortgaging the futures of several generations of Americans.

THE WHITE HOUSE/CIA MOTIVE: TO STAY IN CONTROL
The reason that this disastrous Fraudulent Finance approach has been adopted by the Obama Administration is that, by this means, the Government and its corrupted cronies STAY IN CONTROL OF TRADING OPERATIONS WITH NO COMPETITION. That is the motive.

By contrast, the pure way of achieving a sound recovery within the exiting framework without creating ANY NEW DEBT AT ALL, is for the private sector to handle the refunding operation WITH NO GOVERNMENT INVOLVEMENT.

That way, the Government gets to tax 35% of the accrued proceeds of the eight on-balance sheet trades per banking day, thus acquiring NEW MONEY WITH NO DEBT.

The Obama Administration’s decision to pursue the reprobate course represents a wilful refusal to conduct the affairs of the US Treasury in a responsible manner, representing TREASON against the American people and the Republic.

The ‘reason for the Treason’ is that it knows that there is a SOUND WAY TO PROCEED and has deliberately chosen the unsound route for unsound reasons, instead.

Since the Obama Administration’s unsound decision will gravely impair the prospects not only of the American people but of ‘the whole of humanity’, it represents effectively a DECLARATION of FINANCIAL WARFARE ON THE REST OF THE WORLD, WHICH IS TO BE FLOODED WITH ‘TRASHETS’.

‘We will do things OUR way’, even though WE KNOW that what we intend to do is irresponsible, reckless, economically illiterate, and is the financially unsound route to perdition:

AND THE WHITE HOUSE KNOWS IT.

• LATE NEWS: FREEDOM WATCH USA JUMPS ON OUR BANDWAGON
Although we have no brief at all for Larry Klayman, the agitprop group Freedom Watch USA that he runs out of Washington DC has expanded a class action lawsuit filed in US Federal Court in Los Angeles on behalf of shareholders in A.I.G. (American International Group) which has just been amended to include Treasury Secretary Geithner, former Treasury Secretary Henry M. Paulson and the former Chairman of the SEC Christopher Cox.

AIG shareholders have seen the value of their shares collapse by an estimated $214 billion. We must be sharply aware that this lawsuit may, like the lawuits referenced in our preceding report, represent a component of the CIA’s ‘collapsing’ operation, which is now in full gear, whereby all strands of the multi-faceted scandal are ‘collapsed’ into a welter of open-ended litigation, so that the underlying issues become sub judice and nothing ever gets resolved (on purpose). It’s the Bush/DVD CIA’s neat way of hiding their incessant thefts.

However some of the public comments made by this operator echo findings published in our reports, even though of course Klayman cites that Missouri Professor as his inspiration (without mentioning that the Missouri Professor Black ‘may have been’ jolted out of his serial academic daydreams by this service). Samples:

• ‘The American people, not the compromised ruling elite in Washintgon, DC, have begun a second American Revolution to take the country back from the con men on Wall Street and on Pennsylvania Avenue, who under successive Administrations played a central part in the meltdown of the US financial system and economy’.

• ‘The inspiration for this amendment was information disclosed by University of Missouri Professor William K. Black on the Bill Moyers’ Public Broadcasting Service television show last Friday, when he implicated these Government officials in a massive cover-up of the banking scandal, mostly for the benefit of Goldman Sachs, the former employer of both Paulson and Geithner, in which they held a significant financial interest’.

• FOR BACKGROUND, SEE OUR 2006-2007 Wantagate reports concerning Henry ‘Conflict-of-Interest’ M. Paulson Jr..

• ‘As for Cox, his reckless and intentionally impotent oversight at the SEC is the basis of the claim against him’ referenced above.

• ‘Freedom Watch will not rest [GOSH! Ed.] until justice is done and it won’t come from the Obama Administration, bent on deceiving the US taxpayer that it intends to clean up this corruption, all the while lining the pockets of its friends at A.I.G. with the Government bailout money, who gave handsomely to have their President elected’.

Remember, you read all about this HERE months and several years BEFORE these US operatives started getting in on the act. It has now, ALL OF A SUDDEN, since G-20, become ‘acceptable’ to start saying what this service has been proclaiming since 2006.

Nor is it appropriate for us to jump for joy at this development. This is because one of the more insidious techniques used by the Intelligence Power is to ‘take over’ issues, so that they can then be CONTROLLED. And given what we know about the character running this operation (which would sit very uncomfortably for him if published), this is likely to be the intention here. Another clue that this is not an objective operation, is that the sum of money being claimed is not that large, given that trillions of dollars have been systematically looted by these organised criminals who have hijacked the US Federal Government and the banks.

Nevertheless, at this early stage, it is appropriate to note that what you read on this website and in our printed publications first, is now belatedly ‘sort of’ MAINSTREAM.

• Very late in the day, of course, because these ‘professionally concerned’ operatives didn’t have either permission or the guts to expose this corruption earlier. Shame on them.

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

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• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

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SHARP INCREASE IN GLOBAL TENSION SINCE THE G-20

RELEASES SABOTAGED BY MERKEL, WHO IS THREATENED BY SARKOZY

Tuesday 7 April 2009 00:01

UNDERLYING ISSUES NOT EVEN MENTIONED IN THE COMMUNIQUE

• ‘NEW WORLD ORDER’ INVOKED FROM THE G-20 PLATFORM

• G-20 COMMUNIQUE SILENT ON THE CAUSES OF THE CRISIS

• EYES GLAZE OVER AT SIGHT OF OBAMA AND BROWN

• ‘FOR US THE WAR NEVER ENDED’, ETC

• GERMAN CADRES’ ANGER DIRECTED TOWARDS THE BRITISH

• SARKOZY AND MERKEL AT EACH OTHERS’ THROATS OVER THE RELEASES

• SARKOZY REPORTEDLY THREATENS MERKEL WITH ‘ELIMINATION’

• ELYSEE TREATY AND E.U. ITSELF THREATENED BY FRANCO-GERMAN BREACH

• BANKERS WHO STAND IN THE WAY POST-G-20 WILL BE ‘ELIMINATED’

• ROTHSCHILDS ‘DEALT WITH’ BY RUSSIAN AND CHINESE INTEL THUGS

• THE GERMAN-ORIGINATED ‘BAIT AND SWITCH’ ROUTINE

• U.S. POWER STRUCTURES MODELLED ALONG LENINIST LINES

• THE STRAIGHTFORWARD DRUG-TRAFFICKING TEST

• DRUG MONEY PROCEEDS AND THE INTERBANK MARKET

• THAT SEPTEMBER 2008 MONEY ‘LOCKDOWN’

• GERMAN MOLES INSIDE THE BRITISH OFFICIAL STRUCTURES

• CORRUPT TURKS AND CAICOS ISLANDS TO BE TAKEN OVER BY BRITAIN

• PROFESSORS CLIMB ONTO OUR BANDWAGON

• HYPOCRISY AND CANT IN THE G-20 COMMUNIQUE

• CRUCIAL FISCAL UNDERTAKINGS IN PARAGRAPH SIX

• THE PRIVATE MEETING BETWEEN THE QUEEN AND PRESIDENT OBAMA

• SUDDEN CHANGE OF LANGUAGE AT THE FED

• FED PUSH FOR EXEMPTION FROM STATUTORY DEBT CEILING

• FED NOW LESS CONCERNED ABOUT DEBT BECAUSE OF REFUNDING?

• THE POST-G-20 CIA ‘COLLAPSING’ OPERATION

• FULL G-20 COMMUNIQUE TEXT APPENDED AS NOTE 5.

• RECENT (OECD) TAX INFORMATION EXCHANGE AGREEMENTS APPENDED AS NOTE 6.

• MADOFF ‘VICTIMS’ LIST: Two reports were posted on 6th February 2009 containing the entire list of customers of Bernard L. Madoff Securities, Inc.. Because the list is so huge, we divided it into two segments: Clients A-N; and clients O-Z, plus a Miscellaneous Section. See: Archive. Our list is the easiest to load and clearest of the lists that have been reproduced privately on the Internet.

• We have just published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also just published are issues of our titles Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs. For further details, please check the second white panel on the Home Page.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website.

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NEW REPORT STARTS HERE:

• ‘NEW WORLD ORDER’ INVOKED FROM THE G-20 PLATFORM
Indicative of the supreme arrogance of the cabal of internationalists (globalists) who think they know best for the whole of humanity, the controlled British Prime Minister, Gordon Brown, inserted the keywords ‘New World Order’ in his tedious sermon at the Group of Twenty indulgence-fest on 2nd April. Manifestly, the intelligence operative who wrote that speech for him looks upon those who don’t sit on their brains with utter contempt.

It was Mr Gorbachëv (Orbach or Korbach) who recycled this World Revolution control-phrase in the late 1980s, and it was his clandestine ally, George H. W. Bush Sr., who trumpeted the phrase for the benefit of those whom Lenin called ‘the interested’ in the early 1990s.

The purpose of this gratuitous insult to our collective intelligence was to remind those whom Lenin called ‘the interested’ and their fellow-travellers that the G-20 bore-event was about progressing The New Underworld Order, by leveraging the consequences of years of purposely implemented Fraudulent Finance in the interests of the broader globalist agenda – a supposedly ‘Great Leap Forward’ towards an agenda that NOBODY in the world WANTS, beyond the tawdry confines of the controlled, self-important creatures who think they have a right to dictate how humanity should be directed, managed, destroyed, or all of the above.

G-20 COMMUNIQUE SILENT ON THE CAUSES OF THE CRISIS
The British taxpayer was reportedly lumbered with a bill for £50 million to pay for Brown’s globalist jamboree, which issued a Communiqué that conspicuously OMITTED any mention of the following keywords/phrases, thereby signalling with crystal cynical clarity that it did not address the issues underlying this criminal finance crisis:

• Derivatives or ‘Structured Products’

• Fraudulent Finance

• Criminal Finance

• Toxic Assets

• Legacy Assets

• Bribery

• Corruption

• Mafia/mafiya

• Tax evasion

• Drugs, drug-trafficking

• Inflation

• Hyperinflation

Thus the Communiqué SIDESTEPPED the issues that should have been discussed, in favour of bromides for the benefit of the gullible ‘mainstream’ media hoardes for whose ears the entire orchestrated charade was choreographed. The omission of ANY MENTION of these issues in the Communiqué reveals the total contempt of these people for the Press Room.

For days after this circus, the talking heads were still ‘analysing’ the ‘outcome’ of the G-20 meeting on the basis of the diversionary bromide-style Communiqué, thereby plastering the entire world with vacuous interpretations of what the ‘chosen’ operatives striding the revolutionary stage were imagined to have ‘agreed’ – without addressing the fundamental issues summarised above which are the keywords that these ‘analysts’ should have been searching for if they had been equipped with any discernment about what was going on.

• Update! Someone on The Times, London, has noticed that the Communiqué had NOTHING to say about Derivatives a.k.a. Toxic Assets a.k.a. ‘Structured Products’ a.k.a. FRAUDULENT FINANCE!
Writing in The Times, David Wighton argues that despite recognition by G-20 leaders that dealing with banks’ so-called ‘toxic assets’ is vital for the global recovery, very little was said about it in the official Communiqué. He adds: “Now that Mr Sarkozy and Mme Merkel have their crackdown on tax havens, perhaps they can show some leadership on more urgent problems”. [INCREDIBLE!!!!!!!!!!].

ACTUALLY, NOTHING WHATSOEVER was mentioned about Derivatives a.k.a. Toxic Assets a.k.a. ‘Structured Products’ a.k.a. FRAUDULENT FINANCE, because THEY ARE TRYING TO KICK-START THE CRIMINAL OPERATIONS and they don’t want the diverted press to focus on what they are doing. Furthermore, criminal operatives at the highest levels of Governments are vulnerable to EXPOSURE for their own participation in the ransacking of trillions of dollars.

•FACT: The REASON for the current ‘constipated’ state of affairs is that processes are in motion that threaten to entrap and expose VERY BIG NAMES; and everyone concerned is TERRIFIED that the lid cannot be forced down on the cauldron. That’s what the litigation referenced at the end of this report is all about, BUT IT’S MUCH, MUCH BIGGER than even the closest observers realise.

• MORE ARRESTS were reported to us in the afternoon of 7th April. This contradicts intelligence to the effect that anyone standing in the way will now, post G-20, be ‘eliminated’, but that does not preclude ongoing arrests of other co-conspirators and accessories to the fact of misdemeanours.
In fact, ‘liquidations’, we understand, have been ongoing for at least three weeks.

For (see below) the G-20 was a WATERSHED beyond which date the leeway shown to saboteurs in the past will no longer apply. It is surprising, perhaps, to hear of arrests still taking place. What is quite clear is that the Illuminati’s internal war, or the global financial intelligence warfare, has been ratcheted up to a much higher level of intensity. The G-20 event was probably the last time anyone on this foul stage crawling with rats is going to waste time trying to be polite. They had no choice on 1st-2nd April, because they were in the presence of The Queen, who is invariably very polite and is the epitome of good manners. But powerful operatives holding the highest official positions who have stolen vast sums of money and are desperate to avoid being exposed, are not about to waste time being polite, when they are so terrified of being fingered, and jailed for life.

EYES GLAZE OVER AT SIGHT OF OBAMA AND BROWN
The Editor had numerous better things to do than watch and listen to the wall-to-wall opinionated revolutionary internationalist propaganda drivel spouted by Gordon Brown, and has long since suffered from EGO (Eyes Glaze Over) at the sight of President Obama hogging yet another podium and lecturing the whole world, Fidel Castro-like, on what (unspoken) his DVD-CIA handlers want to eventuate. The arrogance of these controlled operatives who leverage power on the globalists’ stage is hard for normal people, let alone for jaundiced observers not accustomed to sitting on their brains, to tolerate.

But the silver lining here is that if these operatives continue thaumatroping (1) humanity with their sterile sermons, the whole world will soon be ‘switched off’ by this agitation, propaganda and self-regarding indulgence, which of course would be a Good Thing.

And indeed this is what will happen because if one fact is certain here, it is that these opinionated would-be jumped-up re-orderers of the world have no sense of proportion, no idea when they are overstepping the mark, and no inclination to cease and desist from their preaching of control-drivel for the supposed ‘benefit’ of humanity. Which of course is all very decidedly GERMAN.

The Dachau-based long-range Nazi strategic deception community behind the ‘globalisation’ thrust towards The New Underworld Order to procure German hegemony displays the one ineradicable characteristic of these people: an inability to know when to stop. This fatal characteristic was on display even as late as 1945, when Hitler was ordering his Generals to continue the War long after the remaining sparrows clinging to the few extant Berlin lamp posts knew that it had been lost.

‘FOR US THE WAR NEVER ENDED’, ETC
Which can remind us that the Nazi intelligentsia, who had decamped to the German Geopolitical Centre in Franco’s Madrid by 1942, were indifferent about the fate of Herr Hitler (Schickelgrüber), a criminal operative dredged up from the back streets of Vienna whom they regarded as expendable. On the contrary, they relished the post-Hitler prospect of implementing a sinister, gradualist long-range deception strategy epitomised by the phrase, found in the captured ‘Madrid Circular Letter’ (circa 1951): ‘Für uns ist der Krieg niemals vorbei’ (‘For us the war never ended’).

And as we have repeatedly elaborated, the other ongoing Nazi slogan of specific relevance to America’s predicament today was: ‘We shall build the Thousand-year Reich on the Ruins of the United States’ – a strategy expertly implemented by the DVD’s supremo in the United States, Dr Henry (‘call me ‘Henny’: no thanks) Kissinger, a disgusting quadruple agent who moved seamlessly from Princess Diana’s memorial service in Westminster Abbey to a nightclub that same evening where he was observed googling at a bellydancer.

President Obama despatched Kissinger and the Bush Family’s primary legal ‘fixer’ and former US Secretary of State James A. Baker III to Moscow in March to conduct discussions with the covert Soviets under Medvedev and GRU-Prime Minister Vladimir Vladimirovich Putin. They subsequently returned to the United States, it is believed, in the company of Gorbachëv, the former Andropov (Lieberman)-era head of the CPSU’s all-powerful Administrative Department and the chief long-range implementer of Andropov’s strategic deception strategy.

The use by President Obama’s handlers of Kissinger and Baker for this mission indicates rather clearly that the US political parties are of course two wings of the single Political Power – which is controlled by the ‘State within the State’ Intelligence Power under the heel of Bush Sr., directed in turn by the probable DVD supremo on the block, Dr Henry Kissinger.

It was this German Jew who persuaded the erstwhile pornographer Gerald Ford (a.k.a. Leslie Lynch King Jr.) to sack William Colby as Director of Central Intelligence and to instal, in his place, George H. W. Bush Sr., of like German Jewish background, thereby taking over the Central Intelligence Agency on behalf of the heirs of the Nazi Abwehr, Deutsche Verteidigungs Dienst.

To ensure the ‘permanent’ allegiance of the CIA criminal enterprise (Bush Jr. referred to it as ‘our enterprise’) to the DVD, Bush Sr. later procured the renaming of the CIA’s Langley campus as the George Bush Center for Intelligence, which should read ‘George Bush Center for Terrorism’.

GERMAN CADRES’ ANGER DIRECTED TOWARDS THE BRITISH
Vituperative, uncontrolled fury emitted from certain quarters against The Queen and the British generally reflects anger at the reality that the Nazi DVD controllers are most decidedly NOT getting everything their own way ‘as we speak’. Some sources of these ignorant ventilations also fail to understand that France and Germany are basically interchangeable under the terms of the Treaty of the Elysée of 23rd January 1963, which is of INDEFINITE duration and specifically requires these two powers to reach quote ‘an analogous position’ unquote ahead of every international meeting involving both powers, in perpetuity.

Therefore, while Sarkozy and Merkel are at loggerheads (see below), they are simultaneously bound by the terms of that never-ending bilateral treaty, which is why they always pontificate IN UNISON against ‘the Anglo-Saxons’ (another piece of egregious nonsense) whenever one of these set-piece New World Order theatres is to be staged at some place near you (2).

SARKOZY AND MERKEL AT EACH OTHERS’ THROATS OVER THE RELEASES
Since the G-20 meeting, tensions between Sarkozy and Merkel are reported to have reached close to boiling point. We have been informed that President Obama did sign a document at that event requiring the releases to proceed – and that President Sarkozy was perhaps unwisely mollified by this development, so that he was able to set aside his earlier threat to implement his planned walk-out should the ‘deliverables’ not be forthcoming. That threat, it will be recalled, had been directed against the US President.

So one can imagine President Sarkozy’s unrestrained fury when he discovered, subsequent to the G-20 meeting, that Mr George Bush Sr.’s agent, Chancellor Angela Merkel, who has been bribed by Bush Sr. for about five years to stand guard over his accumulated ill-gotten gains stashed within the German financial system, has continued to stand in the way of the releases since 2nd April.

• STASI operative Merkel of course implements strategy and tactics dictated to her by the Nazi strategic deception continuum, Deutsche Verteidigungs Dienst, Dachau, as well.

• SARKOZY REPORTEDLY THREATENS MERKEL WITH ‘ELIMINATION’
Given this stand-off, the apoplectic Sarkozy, who now hates the Bushes with a vengeance because (typically) he was double-crossed by George Bush Sr., is reported to have threatened Chancellor Merkel with ‘elimination’ if she continues to block the settlements, which is what she is reported to be doing. Specifically, Sarkozy is reported to have told the German Chancellor: ‘You have to do this, or you’re going to be gone’.

This huge breach between the Treaty of the Elysée partners has now become so extreme, that it threatens to scupper not just the 1963 bilateral Treaty of the Elysée, which is the foundation stone of forced ‘European unity’ itself, but also the cohesion of the German Nazis’ long-range entrapment strategy, the European Union Collective, which is based upon the structure mapped out in the Nazi document Europäische Wirtschaftsgemeinschaft (European Economic Community) published in Berlin in 1942, as previously (and repeatedly) reported by this service (3).

• ELYSEE TREATY AND E.U. ITSELF THREATENED BY FRANCO-GERMAN BREACH
The irony is that while Chancellor Merkel is implementing DVD blocking tactics, to sabotage the releases, she is also taking the risk that her intransigence in deference to the DVD and Bush Sr. will in fact rip the Elysée Treaty and therefore the European Union apart, thereby destroying the framework for German regional hegemony strategy – another instance of the German Nazi habit of always going too far.

A further irony here is that if Chancellor Merkel persists with her blocking behaviour, unless she is eliminated as Sarkozy has threatened, she will be doing us and the whole world an immense favour by perversely dismantling the insidious entrapment structure developed by the wartime Nazis and the German Geopolitical Centre in Madrid which has almost brought Britain to its knees.

BANKERS WHO STAND IN THE WAY POST-G-20 WILL BE ‘ELIMINATED’
The post-G-20 situation is meanwhile associated with a heightening of the intensity of the ongoing Illuminati bloodbath arising from this self-inflicted crisis. Hitherto this bloodletting has continued at a relatively subdued level, with banking sector saboteurs being ‘apprehended’ or arrested, rather than necessarily liquidated. But since the G-20 meeting, sanctions for any failure to cooperate as required have been sharply escalated. We understand that no leeway or mercy will now be shown, and that these sanctions are already being applied.

This is why we are now authoritatively advised that crooked bankers (and probably also corrupt Trustees) who sabotage any element of the post-G-20 financial release procedures will no longer simply be arrested, but will be ‘eliminated’ on the spot – by which is meant that they will be shot dead on sight, or else will be ‘zapped’ so that they suffer a heart attack.

Taken in the context of President Sarkozy’s reported threat that Chancellor Merkel will herself be ‘eliminated’ if her intransigence in blocking the settlements continues, we can now see that, post-G-20, the temperature and the level of international tension has been significantly raised – and that the G-20’s decisions are being perversely sabotaged by Germany.

This was probably inevitable, since tensions were already extremely high prior to the G-20 meeting, as witnessed by Sarkozy’s threat to walk out if the ‘deliverables’ were again impeded. So, having been through that ghastly meeting and having been deceived into believing that agreement to proceed with the releases had been reached, President Sarkozy feels bitterly betrayed by his own supposed ‘ally’, to whom he is supposed to be bound until the end of the solar system by the 1963 perpetual Treaty of the Elysée.

On the basis of past experience, this further satanic theatre of the absurd may just represent yet another instance of the dialectical game that these criminal operatives play, whereby yesterday’s identified villain is today’s beneficial influence, and tomorrow’s villain is a third party we hadn’t previously thought of. On the other hand, something tells the Editor that these new developments represent a very serious escalation of international tensions, exacerbated by fury at the objective fact that these ‘leaders’ assembled at great inconvenience and big expense to appear en masse in Canning Town with false smiles all round, only to find afterwards that the somewhat arrogant and disliked STASI-Chancellor Merkel was sabotaging part of the secret outcome of their meeting.

In particular the Editor was singularly impressed by the fact that as soon as he mentioned the intelligence, obtained from another source, that bankers standing in the way of the releases post-G-20 would be IMMEDIATELY ELIMINATED, this was instantly confirmed as accurate by a respected informant who could not have revealed it unless it had been mentioned by the Editor first.

• We were told: people who stand in the way will find that ‘they didn’t get to go home’.

In this connection, it is understood that two senior Directors on the Board of Citibank/Citigroup were ‘eliminated’ last week. When the Editor enquired whether this implied what he assumed it meant, the answer was in the affirmative; and the sources elaborated that ‘we think that they were zapped in some manner and suffered heart attacks’.

ROTHSCHILDS ‘DEALT WITH’ BY RUSSIAN AND CHINESE INTEL THUGS
Intelligence input received by this service also confirms that, standing in front of the Bush-Clinton-DVD-CIA Criminal Nexus, the three parties that have sabotaged the releases and the ‘final solution’ of this infernal Illuminati warfare all along have been the Rothschilds, the Connecticut Trust group of Trustee operatives, and Citibank. According to certain Jewish sources, no less, the Rothschilds’ behaviour has been dictated by their unwillingness to ‘lose their control’, or at least the degree of control to which they have been accustomed for generations.

Either during or shortly after the G-20 display in Canning Town, Russian and Chinese intelligence operatives (collaborating together under their long-range cooperative alliance) travelled to Paris, where they advised the Rothschilds there, that their ‘time is up’ and that they are required to yield. We were unable to establish why it was necessary for the Russians and Chinese to do this in Paris, given that the Rothschilds are headquartered these days in London. But it was stressed that the visit was not exactly a ‘friendly’ encounter.

And as previously noted, the Connecticut Trust group of Trustees, working for George Bush Sr., have indeed been in the habit of waiting for each successive attempt to procure the releases to be announced, attending at the relevant bank at the appointed date and time, creaming off the profit, and distributing it to designated recipients, as a consequence of which very large sums of money have accumulated in the bank accounts in question.

Further corrupt activity along these lines by these people will, we understand, result in them being summarily executed, like any bankers that may be foolish enough to persist, post-G-20, in standing in the way of resolution. A number of such Trustees have been ‘disposed of’ in the past after they got ‘too greedy’, but in the post-G-20 environment, no leeway is going to be allowed at all – which means that if this satanic impasse continues, we are going to see a number of bankers shot dead or ‘zapped’ in their offices, and Trustees gunned down at point blank range in the street.

As for Citibank, it seems that our early description of this institution as a criminal enterprise was a grotesque understatement on our part.

SECOND PHASE OF THE ICELANDIC LEG OF THE OCTOPUS ‘BLOWS’
The British press confirmed on 6th April 2009 that Iceland has hired Eva Joly, a Norwegian-French investigating magistrate who specialises in preparing complex fraud prosecutions, to advise the investigators and identify evidence of corruption. It will be recalled that the Bush Crime Family had been using Iceland as a laundering centre for elements of its Fraudulent Finance operations, and that the entire Icelandic financial system and the Icelandic krona went into meltdown last October after the Government had been forced to seize Kaupthing, Landsbanki and Glitnir, the country’s largest banks. Clearly, the Icelandic meltdown was an immediate consequence of the drying-up of liquidity in the system following the ‘lockdown’ event on 10th-12th September 2008 [see below].

The Daily Telegraph reported that a source close to the investigation said:

“We need serious help from Europe and the United Kingdom and tax havens to deal with the international aspects of this because it looks like there was a very elaborate network of crossholdings and money flowing overseas. It’s absolutely mind-boggling”.

It also looks as though the Icelandic authorities could benefit by a closer study of the background to their troubles, which they may not have understood, at the outset anyway: and that a good place for them to start might be with this website service.

THE GERMAN-ORIGINATED ‘BAIT AND SWITCH’ ROUTINE
The Franco-German Treaty of the Elysée was promoted by Dr Konrad Adenauer, the former Nazi-era Mayor of Cologne and friend of Schickelgrüber’s favourite German Jewish bankers, Drs Abs and Pferdmenges. Chancellor Adenauer is notorious for having told the Bundesrat that ‘we must never let the West know that our true orientation lies to the East’ – reflecting the historical realities that Nazism (National Socialism) and Communism (International Socialism) are dialectical twins and that German intelligence was resident inside the Kremlin (as it has been inside the White House and Downing Street) for many years: which explains the Ribbentrop-Molotov Pact, and why the Nazis alternated between alliance with the German asset Josef Stalin (who weakened Russia by liquidating the officer corps) and attacking Russia, like rats in a sack. Among these Luciferian beings, loyalties and allegiances are strictly ephemeral, expendable, replaceable, and perfunctory.

The same has always been true of the DVD operative Mr George H. W. Bush Sr., whose modus operandi has invariably been the ‘bait and switch’ technique of turning on his trading partners (Saddam Hussein, Misolevic, Noriega, Sarkozy) as soon as they become too powerful, inciting his monumental lust and jealousy. Indeed the ‘bait and switch’ technique is quintessentially Leninist: and since the United States is in fact structured just like an overt Marxist-Leninist state, this should come as no surprise, either.

U.S. POWER STRUCTURES MODELLED ALONG LENINIST LINES
All overt Communist states have a ‘Security Council’ which is superior to the Government itself – the same model as is evident in the United States, where the National Security Council (NSC) appears to be subordinate to the Presidency but in fact tells it what to do.

In other key respects, too, the US control structure is identical to that of overt Communist régimes – with the standard power triangle consisting of the Intelligence Power (the ‘State within the State’), which is answerable to no-one, supposedly balanced by the Military Power (which it controls) and the Party (which it also controls, and which in the United States is divided into the two dialectical false ‘opposites’, Republican and Democrat).

That the Party is ONE is evident from the seamless interaction between the two wings – so that President Obama has no problem sending his supposed Republican ‘rivals’ Kissinger and Baker to Moscow to talk with the other false dialectical World Revolution ‘opposites’, the covert Soviets.

THE STRAIGHTFORWARD DRUG-TRAFFICKING TEST
If we step back for a moment to reflect on the staged propaganda delivered to the world by Messrs Brown and Obama in recent days, we can short-circuit queries about the bona fides of these two characters quite simply. The elementary way to establish whether Obama and Brown are genuine or controlled (a simple test that applies to everyone else on the stage as well), is to ask (even though we all know the answer):

• Has President Obama ordered the CIA to get out of drug trafficking?

• Has Prime Minister Gordon Brown ordered Government Operations-2 (GO-2) within MI6 to get out of drug distribution via its control of the two drug cartels distributing drugs in the United Kingdom, and its financing of the main political parties using drug money proceeds?

Of course the answer to both questions is no. By extension, we can further ask the subsidiary question: are they serving the interests of the American/British peoples, or not? And again the answer has to be: they can’t be, otherwise this would be their top priority, wouldn’t it. In that case, if they aren’t serving the interests of their populations, they must be serving some other interest – namely, of course, the internationalist One World Agenda, operating CONTRARY to the interests of the nation state, which it seeks to obliterate. Since the nation state is the natural human condition and has been found to serve the preferences and interests of human beings best, it follows that the One World Agenda does not meet the requirements of human beings, and can never do so.

France, Germany, China, the ‘former’ Soviet Union, Israel and other countries are also in the drug business: but that’s not the point. The issue is: do our leaders serve our interests?

And clearly, since they preside over Governments that are engaged in satanic operations (drug-trafficking and distribution) the purpose of which is to make money out of destroying people’s lives, they most certainly do not.

If Brown and Obama had stood on that Canning Town platform and condemned drug-trafficking and the participation of their own structures in this heinous activity, one might have been excused for perhaps taking them seriously.

And there are plenty of other devilish government-sanctioned activities to which they should be opposed, as well. But since neither of these ‘leaders’ condemned them – making no mention of any of the foregoing fundamental causes of the criminal finance crisis, which is degrading the whole world, in their pompous globalist dirges – neither of these two operatives should command our respect: except that President Obama is Head of State and, as previously mentioned, whatever the personality occupying this position, he or she must command a degree of deference because he or she represents the people who are, or ought to be (but are not), sovereign.

In 2005, a US operative said to the Editor of this service: ‘Don’t attack the drug operatives, or they will kill you’. Oh, so the problem is insoluble, is it? It can’t be resolved because anyone standing up to them will be murdered? President Obama cannot be expected to do the right thing because it’s too dangerous? Brown, ditto?

• Here’s a consideration for your attention. We have just broken this taboo. Would good people who may be reading this report care to join in? By all means reproduce what we have published here: be the Editor’s guest.

DRUG MONEY PROCEEDS AND THE INTERBANK MARKET
Now you will doubtless recall that, as previously reported by this service, the Executive Director of UNODC, the United Nations Office on Drugs and Crime, Sr. Antonio Maria Costa, was interviewed in the January 2009 issue of the Austrian journal Profil, and that in that interview he stated that in the second half of 2008 (a period which we think extended from mid-September onwards: see below), the ‘only new liquidity’ in the interbank market was drug money.

The other sources had been closed off – especially the illegal and corrupt misuse of the $14.0 trillion funds, including the Queen’s LOAN money within a total of $6.2 trillion that had been made available to finance the private sector on-the-books Refunding Programme which is the SOLUTION to the crisis, as agreed by the Group of Seven leading financial powers in June 2007, when The Queen appealed for this transparent trading to proceed ‘for the sake of the whole of humanity’. The G-7 re-approved the private sector, revenue-generating refunding of the US Dollar System in 2008.

THAT SEPTEMBER 2008 MONEY ‘LOCKDOWN’
Following advice given and the steps taken at the beginning of September 2008, these funds (the entire $14.0 trillion) were placed into ‘lockdown’ between 10th and 12th September 2008, so that they could no longer be illegally exploited to finance the carousel, as previously explained. It was then only a matter of time before the Bush Crime Family-linked Madoff Ponzi scamming machine ran into severe trouble, in the context of the reported $7.0 billion of redemptions.

(Obviously it didn’t help that, according to The Jerusalem Post, Madoff had transferred $35 billion to the Israel Discount Bank via 181,000 separate wire transfers in the names of individual investors between March 2004 and the same month a year later) (4).

When ‘Sir’ R. Allen Stanford realised what was happening, he started to arrange for monies to be diverted from his various bank accounts – a state of affairs known to his one-man Antigua-based accountant, whose contract with Stanford expired on 31st December 2008. The accountant died suddenly on 1st January 2009.

From the information about drug money flows implied and given above, it can be assumed that one reason why the Great Powers do nothing whatsoever to terminate their structures’ drug-trafficking operations (except via token programmes designed to deflect criticism for public consumption) is that the resulting money flows lubricate the interbank market.

Which of course ties the banks, which are criminal enterprises, into the drug-trafficking business – explaining the corruption of the banks, which is justified on the basis of the argument that banks are neutral institutions which simply handle money flows.

Therefore, attempting to impose discipline and ‘standards’ on banks while Governments continue to sponsor and indulge in drug-trafficking, represents yet another display of the familiar duplicitous double-mindedness with which we have become familiar as we steadily strip the putrid layers of criminality off the legs of the criminal Octopus.

GERMAN MOLES INSIDE THE BRITISH OFFICIAL STRUCTURES
As in the United States, agents for the long-range Nazi strategic deception apparat are buried deep inside the UK structures, such as the Cabinet Office, the Treasury, the Office of the Deputy Prime Minister, the UK Ministry of Defence, the Foreign and Commonwealth Office and the Department for Work and Pensions.

For instance, the ‘Europe Minister’, a ‘Blair Babe’ called Caroline Flint, said at the beginning of April that every operational unit of the British Army, the Royal Navy and the Royal Air Force will soon be available to fight under the EU flag in future wars ‘as part of an EU ‘force catalogue’’. Such crass, revolutionary anti-nation state abominations perpetrated by brainwashed political puppets proceed even as the German operation to entrap its Member States, most importantly Britain, is running into the sand as discussed above – reminding us that the EU is a deliberately structured ‘automaton’ which may keep on functioning long after its underpinning foundations have collapsed beneath it.

Moreover key personnel at the Bank of England have also been instrumental in furthering the long-range Abwehr strategy, whether ‘on the payroll’ or due to blackmail or other satanic pressures.

Thus a key figure at the Bank is a known de facto German agent, with an offshore bank account with Henry Ansbacher, British Virgin Islands (which harbours about 400,000 offshore corporations, the documents for which are stored in a concrete building there).

This crucial information emerged following the previously reported seizure by 300 heavily armed Metropolitan Police of the ‘Safety Lock Boxes’ in Mayfair, Edgeware and Hampstead on 2nd June 2008, as previously reported. ‘Payroll’ funds paid to this corrupt de facto agent for the DVD are believed to be siphoned via Deutsche Bank and UBS to the named bank in the British Overseas Territory, for the beneficiary whose account is in the name of Passenham.

CORRUPT TURKS AND CAICOS ISLANDS TO BE TAKEN OVER BY BRITAIN
In this context it is to be noted that the British Government is now in the process of bringing in legislation at Westminster, following a Commission of Inquiry headed by a British Judge, Sir Robin Auld, to suspend the Constitution of the Turks and Caicos Islands, to remove the Government and Cabinet, to close the single-camera House of Parliament (the House of Assembly) and to assume direct rule under the control of the Governor for an initial period of two years, in order to get to grips with the rampant corruption throughout the Territory‘s structures that the Commission has uncovered. The draft Order-in-Council to put this process into effect was submitted to Her Majesty The Queen in Council on 18th March and was laid before Parliament on 25th March. On the basis of current information, the takeover is expected to come into effect late this month.

Our Latin American service, The Latin American Times [Volume 20, Number 9], to be published in May 2009, will be devoted to this development.

PROFESSORS CLIMB ONTO OUR BANDWAGON
The Editor’s experience all his reporting life is that we stick our necks out in anticipation of what will take place. What we predict then takes place. Many months, perhaps even a year or more later, academics too timid to run the risk of sticking their necks out realise that what was predicted has indeed taken place. They then proceed to muscle in and to pontificate on the subject, having failed to anticipate what was coming down, but now, with the benefit of hindsight, claiming 100% of the credit for their ‘wise prognostications’ for themselves.

Current instances of this syndrome include pronouncements by the Nobel Laureate (therefore by definition, ‘prescient’) economist Joseph Stiglitz, and Professor K. Black, a Professor of Economics and Law with the University of Missouri:

• Dr Joseph Stiglitz, 3rd April 2009: ‘The Obama Administration’s $500 billion or more proposal to deal with America’s ailing banks has been described by some in the financial markets as a win-win-win proposal’, Stiglitz writes in The New York Times.

‘Actually, it’s a win-win-lose proposal: the banks win, investors win, and taxpayers lose’.

The (Geithner) proposal is ‘marked by overleveraging in the public sector, excessive complexity, poor incentives and a lack of transparency’, Stiglitz says.

‘The Government plan in effect involves insuring almost all losses. Since the private investors are spared most losses, then they primarily ‘value’ their potential gains’.

• Professor William K. Black, 5th April 2009: In an interview on the Public Broadcasting Service (PBS) Bill Moyers Journal, William K. Black, Professor of Economics and Law at the University of Missouri, alleged that American banks and credit agencies conspired to create a system in which so-called ‘liars’ loans’ could receive AAA ratings and zero oversight, amounting to a truly massive FRAUD at the epicentre of American finance. But worse still, claimed Dr Black, Timothy Geithner, President Barack Obama’s Secretary of the Treasury, is currently engaged in a cover-up to keep the truth of America’s insolvency from its citizens’.

We can’t be bothered right now to sock you all of Professor Black’s prognostications: but if you have time to track them down on the Internet, you may, uh, come across a good deal of ‘thinking’ that you’ll instantly ‘recognise’ from your very assiduous reading of these reports and, if you are a subscriber, from your study of our analyses in successive issues of International Currency Review.

• For all of the above, please see these reports and successive issues of our journals, passim.

HYPOCRISY AND CANT IN THE G-20 COMMUNIQUE
The G-20 Communiqué (5) recycled the phrase that has been repeatedly used by Prime Minister Brown and his beleaguered and somewhat baffled Chancellor of the Exchequer, Alastair Darling, namely that ‘we have today pledged to do WHATEVER IS NECESSARY’ to:

• Restore confidence, growth, and jobs [unspoken: that we have destroyed by permitting and indulging in Fraudulent Finance];

• Repair the financial system [unspoken: that we have destroyed ditto] to restore lending;

• Strengthen financial regulation [unspoken: in order to regain former control over what our own permissive behaviour allowed to get completely out of control] to rebuild trust [unspoken: which our wayward, wilful and reprobate Fraudulent Finance behaviour, corruption, lies and systematic deception may have permanently destroyed];

• Fund [unspoken: using stolen and diverted funds and money created from the illicit use of other people’s money such as that of The Queen, in defiance of the legal principle that ‘the money you make from your illicit use of my money is my money’] and reform [unspoken: which we have been talking and doing not a lot about for years] our international financial institutions to overcome this crisis [unspoken: of our own making] and prevent future ones [unspoken: that is to say, crises of our own making that run beyond our control, like this one];

• Promote global trade and investment [unspoken: because we realise that in our greed and in pursuit of our secret agendas, we have come close to destroying ‘our global economy’, ‘globalism’ and therefore our planned route towards The New Underworld Order] and reject protectionism [which would complete the process of destroying our One World model], to underpin prosperity [unspoken: by which we really mean ‘to put our globalist model back together again]; and:

• Build an inclusive [globalist cliché], green [globalist cliché implying the unproven ideology of global warming] and sustainable recovery [globalist cliché: the standard overuse of the weasel word ‘sustainable’ implies that ‘if we don’t do what we are ordering the ‘planet’ to do, humanity will perish – a lie based upon the fallacy that the earth’s resources are finite, which is not true. At the time of Christ, there would have been perhaps 50-100 million people on earth. There are now 6.5 billion; and we are all breathing].

CRUCIAL FISCAL UNDERTAKINGS IN PARAGRAPH SIX
The Communiqué is full of this familiar globalist language, embracing ideologically ‘uncontestable’ presumptions which mask crude propaganda that is not to be challenged by simple people like us.

However Paragraph 6 contained actual SUBSTANCE, even though its CONTENT was masked in G-20-‘speak’ – the OPERATIVE keyword here being FISCAL:

‘6. We are undertaking a concerted fiscal expansion, which will save or create millions of jobs which would otherwise have been destroyed, and that will, by the end of next year, amount to $5 trillion, raise output by 4 per cent, and accelerate the transition to a green economy. We are committed to deliver the scale of sustained fiscal effort necessary to restore growth’.

But if we just take the British situation, there is no scope for ‘fiscal stimulus’ (reducing taxes) at all: in fact, in deference to German policy which is being served by the behaviour of the Governor of the Bank of England, who presided over the mismanagement of a (deliberately?) failed gilt issue the other day, the Chancellor of the Exchequer has actually been talking about RAISING TAXES, i.e. producing a deflationary budget later this month WHICH WILL MAKE THE SITUATION VERY MUCH WORSE. This is EXACTLY in line with covert DVD strategy to decapitate the British economy.

• FACT: In line with their slogan ‘For us the war never ended’, German (Nazi) strategists consider all economic policy to represent a pretext for economic warfare.

So what does Paragraph 6 mean by FISCAL?

The G-7-Approved private sector Refunding Programme of transparent trades yielding TAXABLE REVENUE to reliquefy the banks ON THE BOOKS, is the ONLY means whereby FISCAL STIMULUS can be delivered in the prevailing circumstances.

• FACT: The $5.0 trillion mentioned in Paragraph 6 refers to the tax that will have been raised on the books from the proceeds of the private sector Refunding Programme by the end of 2010.

By contrast, ‘Geithnerism’ – the son of ‘Paulsonism’ – involving the reckless, open-ended creation of Treasury debt in the background, creates no revenue at all, since by definition the public sector generates debt whereas it is ONLY the private sector that can generate TAXABLE REVENUE.

Therefore, it is clear that Paragraph 6 refers to the intended transparent private sector Refunding Programme, which, as this service has repeatedly sought to explain, both in these reports and in our printed subscription services, provides the SOLUTION to the crisis.

Indeed, the crisis would never have reached ‘train wreck’ status if this solution had been applied as soon as it had been approved by the Group of Seven financial powers in 2007. Instead of which, the criminal Paulson-Bush Jr. Treasury chose, as the Obama Treasury has also done, the corrupt off-balance sheet method – in a display of wanton arrogance and stupidity that defies belief, since the owners of the brains in question have more than enough ‘smarts’ between them to have been able to discern the correct way forward.

But crude self-enrichment and financing The New Underworld Order remained the priority, with the disastrous consequences that we predicted on 2nd September 2006 and again in December that year, and in our ‘train wreck’ reports in the summer of 2007: a disgraceful and disgusting display of opinionated, reprobate US official misbehaviour that cannot be expunged from the record (even though the ‘mainstream’ media is doing its best here) given that International Currency Review is resident all over the world, as a witness to these deliberate, criminal abominations.

THE PRIVATE MEETING BETWEEN THE QUEEN AND PRESIDENT OBAMA
Which brings us to what may have been said during the prolonged private meeting between the Queen and President Obama on 1st April 2009. After hastily trying to expunge the insults heaped upon the British during Mr Brown’s earlier visit to Washington, as we have described, President Obama’s minders stood on their heads and started promulgating the opposite message, namely that the ‘Special Relationship’ (so comprehensively mangled by criminalised American Administrations) is greatly to be valued, while our head of State is a jewel without compare (true).

Even so, President Obama arrived under a cloud, as implied by our ‘interview’ between The Queen and the President (see reports from 26th to 31st March 2009 – this text being so close to the reality that certain forces had it ‘snipped’ from our original report).

Now self-evidently, there would have been no flies on any wall inside Buckingham Palace. But even if a microphone had been installed within a picture frame above the Royal mantlepiece, no part of this supremely important private conversation could possibly, under any circumstances, have been leaked, and certainly not to the Editor of this service. That said, close observation left no doubt at all that The Queen deployed her unparalleled skills developed over 57 years of loyal service to place the young President at his ease, and then to persuade him that cooperation rather than confrontation would reap magnificent benefits for both parties, and for the whole world.

Since on-the-books private sector refunding using transparent, fully taxed trading operations yielding TAXABLE REVENUE in spades is the ONLY solution to the shambles created by the Bush-Paulson-Cheney criminal Administration, and exacerbated by the decisions taken under Geithner, and since transparent refunding will finance President Obama’s entire ambitious programme, with money to spare, it would appear that the Queen did not need to over-emphasise what the very intelligent President Barack Obama could certainly now see immediately for himself.

The unanswered question is whether his advisers, all of whom are linked to the Clinton Criminal Compartment of the CIA, had obfuscated this obvious solution or withheld any review of it from his attention – begging the further unanswered question as to whether President Obama was himself complicit in ignoring the G-7-Approved private sector Refunding Programme, or not.

But, as explained in the final brief update to our report dated 31st March, this is now, if the above assessment is correct, ‘water under the bridge’. What matters is that The Queen has diplomatically charmed and ‘turned’ President Obama in the interests of BOTH parties, and ‘for the sake of the whole of humanity’. In the event that the Refunding Programme is sabotaged, then we would join those who proclaim that we are all doomed: but the indications are that it is to proceed.

SUDDEN CHANGE OF LANGUAGE AT THE FED
Open domain indications that A GENUINE DISCONTINUITY occurred as a specific consequence of the successful meeting between The Queen and President Obama are oblique, but telling. We can start with smoke signals from the Federal Reserve which – significantly – began almost immediately after the G-20 theatrical display, and which represented a precise REVERSAL of what the Federal Reserve had been saying PRIOR to that date. To wit:

• Bloomberg, 3rd April 2009: ‘Federal Reserve Chairman Ben S. Bernanke said the central bank must retain the flexibility to withdraw its record injection of credit into the economy to keep inflation in check when the crisis abates’.

‘The central bank’s emergency ‘activities must not constrain the exercise of monetary policy as needed to meet our Congressional mandate to foster maximum sustainable employment and stable prices’, Bernanke said in a speech in Charlotte, North Carolina’.

‘The US central bank has effectively printed money to buy or lend against a range of assets [sic – Ed.] to alleviate the credit crunch and revive the economy. Bernanke’s speech today detailed steps that the Fed can take to remove that liquidity’.

• Bloomberg, 4th April: ‘The Federal Reserve’s two top officials assured that they will pull back their emergency credit programs once the crisis fades, even as they prepare to flood the system further with in excess of $1.0 trillion’.

‘Chairman Ben S. Bernanke said yesterday in Charlotte, North Carolina, that the Fed must retain the flexibility to withdraw its record cash injections to restrain prices. Vice Chairman Donald Kohn said in Wooster, Ohio, ‘the trick will be unwinding this balance sheet in a timely way to avoid inflation’.

‘We can’t go into this without knowing how we are going to get out again’, Kohn, 66, who’s worked for the Fed almost four decades, said in response to a question after a speech at the College of Wooster, where he received a bachelor’s degree in economics’.

FED PUSH FOR EXEMPTION FROM STATUTORY DEBT CEILING
In the course of his comments in Ohio, Kohn also lifted the lid on ANOTHER debt-building operation which may be in the pipeline, thereby reconfirming what a dreadful mess the Federal Reserve and the Treasury find themselves in as a consequence of their participation in and accommodation of this Fraudulent Finance orgy that came to a juddering halt in September 2008.

According to Bloomberg:

‘Kohn said the Fed and Treasury are seeking ‘other tools’ from Congress to help mop up excess cash. One possibility is that the Fed issue its own securities, or ‘Fed bills’, or the Treasury could issue special bills, and put the cash on deposit at the Fed’.

‘“It is important to get either of those tools EXEMPT FROM THE DEBT CEILING so that the Fed could have the power to absorb all the reserves it wanted to”, Kohn said’.

This, of course, would destroy the residual purpose of the Statutory Debt Ceiling, which is all that remains of Congress’s power to curb excessive borrowing by the Government.

In other words, to get out of its ghastly bind, the Federal Reserve is now pushing for a breach in the Statutory Debt Ceiling, which the Congress traditionally guards like a hawk – since if it were to be discarded or eroded, the Legislative Branch would be unable to exercise any constraint at all on the permissive borrowing of the Executive Branch.

FED NOW LESS CONCERNED ABOUT DEBT BECAUSE OF REFUNDING?
Now we have a choice here: we can speculate that this represents just the latest in a long line of demands by the Federal Reserve for the Legislature to furnish it with ‘whatever is necessary’ to enable it to overcome the calamity brought about by the fact that its previous Chairman, Dr Alan Greenspan, was DVD chieftain George H. W. Bush’s chief trader while also serving as Chairman of the Federal Reserve Board; or we can speculate that, post-2nd April 2009, the Federal Reserve may be less concerned (assuming it ever was) about the Treasury’s colossal trash debt burden, given that it has had to recognise that the transparent private sector Refunding Programme generating windfall TAXABLE REVENUE is to go ahead from London, following the private meeting between The Queen and President Obama, so that there is nothing the Fed can do about it.

It is difficult to imagine how the Federal Reserve could possibly contemplate a full-frontal attack on Congress’s sacred Statutory Debt Limit if this were not the case.

As background, it is also a fact that private commentators are starting to deploy language that we have used for a long time in our reports. For instance, the US commentator Sean Brodrick stated on 1st April 2009 that bankers are financial terrorists and should be indicted. Thank you very much. Some of them may now be shot on sight: see above.

THE POST-G-20 CIA ‘COLLAPSING’ OPERATION
Beyond that, the following incredible state of affairs became apparent AFTER the conclusion of the overhyped G-20 theatrical display. What follows will stagger many people, no doubt.

Since we were double-crossed (see relevant reports dated 3rd and 18th March 2008), against the background of the de facto stealing of the Editor’s $35,000 private loan repayable with interest after two years on 11th June 2007, the Editor naturally severed relations with Mr Wanta. However on 24th March 2009, we received a copy of an email despatched by Wanta and addressed to an extended (revealed) list of media types, and to Attorney General Eric Holder, Lawrence Summers, Mr Paul A. Volcker, the Inspector General of the Federal Reserve, First Lady Michelle Obama, Valerie Jarrett, New York State Governor David A Patterson, Vice President Joseph Biden, US Treasury Secretary Timothy Geithner, US Special Counsel Patrick Fitzgerald, GAOFRAUDNET, the Joint Committee on Foreign Affairs, US Securities and Exchange Commission Enforcement Investigations, US Army Inspector General Green, US President Barack H. Obama and others, reading as follows:

Date: Tuesday, March 24, 2009, 11:51 am:
On advice of legal counsel, we will immediately seek treble damages from the US Department of the Treasury, et al, for lawless conversion of US Dollars 4.5 trillion plus daily interest accruals, and for denying me the lawful opportunity to pay my civil/repatriation income tax payment of US Dollars 1.575 trillion directly to our US Department of Treasury, Internal Revenue Service, Washington DC, USA, among other continuing incidents to be documented with extensive exhibits/documentation’.

President Obama… Thank you for trying, but it appears that our mutual attempt to cooperate and readily assist in the economic difficult times have fallen on deaf ears.

Thank you for your kind assistance.

Ambassador Lee Emil Wanta to the United Nations/USA/PRC/Republic of Singapore/State of Israel, Jerusalem.

Principality Central Bank Chairman.

Principality Trade Commissioner.

IT IS TIME………………“Never Let the Magic Dim”.

• Note: The ‘principality’ in question is a ‘micro-state’ in the Sydney, Australia, area calling itself The Principality of Snake Hill. The establishment of actual or ‘virtual’ micro-states (some of which are supposedly recognised by the United Nations) is a cynical operation of the globalist One World manipulators designed to hasten the fragmentation of the integrity of nation states. For instance, such a ‘micro-state’ exists inside the Soviet Military Intelligence (GRU) complex outside Moscow.

We make no further comment on the above, and proceed now to two further comparably extraordinary developments.

On 3rd April, THE VERY DAY AFTER THE G-20 MEETING, Mr Michael C. Cottrell, B.A., M.S., received a telephone call from the Commonwealth of Virginia Department of Taxation asking him for filing and tax documentation in respect of AmeriTrust Groupe, Inc., Wanta’s corporation.

However it may be recalled that on 23rd March 2008, Wanta fired Michael Cottrell from his positions as Treasurer and Executive Vice President of AmeriTrust Groupe, Inc., by issuing and promulgating a three-page document called ‘Resolution of the Sole Shareholder’, whereas of course corporate resolutions are universally required to be Resolutions of the Board of Directors.

Equipped with this document, Mr Cottrell obtained the necessary forms from the Commonwealth of Virginia authorities and proceeded, with relief and at once, to file the necessary formal notices of his (irregular) ‘dismissal’ and his RESIGNATION dated 23rd March 2008 [see above] with the State tax authorities in Richmond, Commonwealth of Virginia.

But natürlich, on 3rd April 2009 the Virginia State authorities claimed, didn’t they, that they had no knowledge of that filing. Within half an hour, Michael Cottrell was of course able to fax copies of the documents that were filed with Virginia on 31st March 2008. Those papers necessarily stated that since Mr Cottrell was no longer Executive Vice President and Treasurer of AmeriTrust Groupe, Inc., as of 23rd March 2008, all future enquiries and communications should be addressed to Mr Wanta at an address in the State of Wisconsin.

Again, bear in mind that this sudden interest on the part of the Virginia tax authorities surfaced IMMEDIATELY FOLLOWING THE CLOSURE OF THE G-20 MEETING IN THE LONDON AREA.

Thirdly, we were informed, AGAIN on 3rd April 2009, by a knowledgeable US official source, that the State of Wisconsin Department of Revenue is to commence legal proceedings or has commenced legal proceedings to sue Bank of America, Richmond, for $4.5 trillion! See our Wantagate Petition for a Writ of Mandamus reports from June 2007 onwards, for background.

Now you may recall from our report dated 6th August 2007 that we have long since proved, with the assistance of documents (reproduced in International Currency Review) that the Wisconsin State Department of Revenue engaged in criminal conduct in charging Wanta THREE TIMES for State tax amounting to $14,129.00, which was paid twice, in May and then in June 1992, and a third time on 21st July 2005 using the Editor’s private LOAN funds. We also identified other respects in which criminal conduct by that Department was demonstrated.

The Editor attempted to assist Mr Wanta by asking the Wisconsin Court whether it would issue, following the ending of his probation as a consequence of the Editor’s payment effective 14th November 2005, the appropriate document recognising the restitution, but made no progress. Finally, on 17th October 2007, the Editor terminated this assistance by writing a Misprision of Felony letter to the relevant Judge in Wisconsin, drawing the Judge’s attention yet again to the matters displayed in our report dated 6th August 2007. All this information has been in the public domain in our financial journal and on this website for a very prolonged period of time.

We can comment no further on the specifics identified above. But what we CAN do, is draw your attention, finally, to the following considerations:

• As indicated, the telephone call from the Commonwealth of Virginia tax authorities and news of the Wisconsin Department of Revenue’s reported lawsuit against Bank of America BOTH occurred on 3rd April 2009, one day after the G-20 meeting.

• This clearly tends to support our assessment that A DECISIVE DISCONTINUITY amounting to ‘a resolution’ of key issues coincided with the G-20 event, arising from the meeting between The Queen and President Obama – ‘necessitating’ a CIA-contrived ‘collapsing’ operation (see below), (leaving aside the separate fact that Chancellor Merkel is reported, post-G-20, to be sabotaging the releases, as discussed above).

It could possibly be argued that the timing of the telephone call and the lawsuit information were both consequent specifically upon the issuance of Wanta’s notice of RICO action against the US Treasury; but in the overall G-20 context, that seems unlikely.

• The suing and cross-suing identified above represents a classic CIA IMPLOSION OPERATION, the overall purpose of which may well be to BURY this matter in a ‘Black’ avalanche of deliberately contrived confusion. It is associated with a parallel escalation of provocatively convoluted website confusion designed to intensify the impenetrable fog of disinformation, diversion, redirection and deception, with everyone portrayed to be fighting everyone else, and all at each other’s throats (a well-known cynical intelligence community obfuscation technique).

The intention of the lawsuits may be to ‘disappear’ the funds that have long since been stolen or diverted in a fog of cross-litigation lasting for years, with the prospect that cases will be dismissed and the entire matter wound up by process of exhaustion. Was this pre-planned? Of course it was.

• And was the advice given to Wanta to embark upon a RICO action ‘poisonous’ advice from a CIA lawyer? You decide.

The $6.2 trillion, of course, is not connected in any way with the foregoing, and was withdrawn as previously reported by this service, on 29th January 2009.

Notes:

(1) The verb ‘to thaumatrope’: to bombard captive audiences with endless verbiage without regard for those forced to put up with this offensive, such that the thaumatroper is engaged in a verbal assault from which the audience cannot escape.

(2) Base allegations that the Editor is ‘anti-French’ or ‘anti-German’ represent the concoctions of diminished minds. The Editor has visited France all his life, speaks French and has close friends in France. He studied singing in Vienna and travelled extensively in Germany in younger days, and listens non-stop to German classical music. We are addressing the evils of Governments and of the globalist usurpers, not of the abused peoples they are supposed to be serving.

(3) See the Editor’s book The New Underworld Order, Chapter Ten: ‘The Thousand-Year Reich’, available from the Edward Harle Limited (intelligence books) section of this combined website.

(4) During dinner in a Tarrytown, NY, restaurant the other day, the Editor’s guest asked what proportion of the perpetrators of these financial crimes are of Jewish extraction, to which the Editor responded: ‘100%’ (not quite true, as Stanford isn’t Jewish: but he’s an exception).

A few days later, an American Jewish contact in London made the unsolicited pertinent point to the Editor that ordinary people of Jewish extraction are getting extremely concerned at what has been happening because, as he put it, ‘they don’t want to be the scapegoats again’. This point was also raised several years ago by a Jewish leader in New York, who warned that if the Jewish community did not take care, there might be a ‘repeat performance’: and this was long before most people had heard of Bernard L. Madoff. The Education Director of a US School and Synagogue who is a friend of the Editor was asked some years ago (by the Editor) what his community’s attitude was towards these Jewish criminals who give the community such a bad name. He responded: ‘These people are a grave and continuing worry to our community. It is a very serious problem’.

These observations should ‘pacify’ anyone of diminished mental capacity who may deduce that our use of the taboo word ‘Jewish’ has any implications whatsoever beyond stating facts as they are, rather than in conformity with mind-controlled ‘political correctness’. Finally, the Editor’s Jewish friends on both sides of the Atlantic openly share this assessment.

(5) The full text of the Group of Twenty Communiqué issued from the London Summit on 2nd April 2009, is appended here for the record:

1. We, the Leaders of the Group of Twenty, met in London on 2 April 2009.

2. We face the greatest challenge to the world economy in modern times; a crisis which has deepened since we last met, which affects the lives of women, men, and children in every country, and which all countries must join together to resolve. A global crisis requires a global solution.

3. We start from the belief that prosperity is indivisible; that growth, to be sustained, has to be shared; and that our global plan for recovery must have at its heart the needs and jobs of hard-working families, not just in developed countries but in emerging markets and the poorest countries of the world too; and must reflect the interests, not just of today’s population, but of future generations too. We believe that the only sure foundation for sustainable globalisation and rising prosperity for all is an open world economy based on market principles, effective regulation, and strong global institutions.

4. We have today therefore pledged to do whatever is necessary to:
• Restore confidence, growth, and jobs;
• Repair the financial system to restore lending;
• Strengthen financial regulation to rebuild trust;
• Fund and reform our international financial institutions to overcome this crisis and prevent future ones;
• Promote global trade and investment and reject protectionism, to underpin prosperity; and
• Build an inclusive, green, and sustainable recovery.

By acting together to fulfil these pledges we will bring the world economy out of recession and prevent a crisis like this from recurring in the future.

5. The agreements we have reached today, to treble resources available to the IMF to $750 billion, to support a new SDR allocation of $250 billion, to support at least $100 billion of additional lending by the MDBs, to ensure $250 billion worth of support for trade finance, and to use the additional resources from agreed International Monetary Fund gold sales for concessional finance for the poorest countries, constitute an additional $1.1 trillion programme of support to restore credit, growth and jobs in the world economy. Together with the measures we have each taken nationally, this constitutes a global plan for recovery on an unprecedented scale.

Restoring growth and jobs:

6. We are undertaking an unprecedented and concerted fiscal expansion, which will save or create millions of jobs which would otherwise have been destroyed, and that will, by the end of next year, amount to $5 trillion, raise output by 4 per cent, and accelerate the transition to a green economy. We are committed to deliver the scale of sustained fiscal effort necessary to restore growth.

7. Our central banks have also taken exceptional action. Interest rates have been cut aggressively in most countries, and our central banks have pledged to maintain expansionary policies for as long as needed and to use the full range of monetary policy instruments, including unconventional instruments, consistent with price stability.

8. Our actions to restore growth cannot be effective until we restore domestic lending and international capital flows. We have provided significant and comprehensive support to our banking systems to provide liquidity, recapitalise financial institutions, and address decisively the problem of impaired assets. We are committed to take all necessary actions to restore the normal flow of credit through the financial system and ensure the soundness of systemically important institutions, implementing our policies in line with the agreed G-20 framework for restoring lending and repairing the financial sector.

9. Taken together, these actions will constitute the largest fiscal and monetary stimulus and the most comprehensive support programme for the financial sector in modern times. Acting together strengthens the impact and the exceptional policy actions announced so far must be implemented without delay. Today, we have further agreed over $1 trillion of additional resources for the world economy through our international financial institutions and trade finance.

10. Last month the IMF estimated that world growth in real terms would resume and rise to over two percent by the end of 2010. We are confident that the actions we have agreed today, and our unshakeable commitment to work together to restore growth and jobs, while preserving long-term fiscal sustainability, will accelerate the return to trend growth. We commit today to taking whatever action is necessary to secure that outcome, and we call on the IMF to assess regularly the actions taken and the global actions required.

11. We are resolved to ensure long-term fiscal sustainability and price stability and will put in place credible exit strategies from the measures that need to be taken now so as to support the financial sector and restore global demand. We are convinced that by implementing our agreed policies we will limit the longer-term costs to our economies, thereby reducing the scale of the fiscal consolidation necessary over the longer term.

12. We will conduct all our economic policies cooperatively and responsibly with regard to the impact on other countries and will refrain from competitive devaluation of our currencies and promote a stable and well-functioning international monetary system. We will support, now and in the future, to candid, even-handed, and independent IMF surveillance of our economies and financial sectors, of the impact of our policies on others, and of risks facing the global economy.

Strengthening financial supervision and regulation:

13. Major failures in the financial sector and in financial regulation and supervision were fundamental causes of the crisis. Confidence will not be restored until we rebuild trust in our financial system. We will take action to build a stronger, more globally consistent, supervisory and regulatory framework for the future financial sector, which will support sustainable global growth and serve the needs of business and citizens.

14. We each agree to ensure our domestic regulatory systems are strong. But we also agree to establish the much greater consistency and systematic cooperation between countries, and the framework of internationally agreed high standards, that a global financial system requires.

Strengthened regulation and supervision must promote propriety, integrity and transparency; guard against risk across the financial system; must dampen rather than amplify the financial and economic cycle; reduce reliance on inappropriately risky sources of financing; and discourage excessive risk-taking. Regulators and supervisors must protect consumers and investors, support market discipline, avoid adverse impacts on other countries, reduce the scope for regulatory arbitrage, support competition and dynamism, and keep pace with innovation in the marketplace.

15. To this end we are implementing the Action Plan agreed at our last meeting, as set out in the attached progress report. We have today also issued a Declaration, Strengthening the Financial System. In particular we agree:

• To establish a new Financial Stability Board (FSB) with a strengthened mandate, as a successor to the Financial Stability Forum (FSF), including all G-20 countries, FSF members, Spain, and the European Commission;

• That the FSB should collaborate with the IMF to provide early warning of macroeconomic and financial risks and the actions needed to address them;

• To reshape our regulatory systems so that our authorities are able to identify and take account of macro-prudential risks;

• To extend regulation and oversight to all systemically important financial institutions, instruments and markets. This will include, for the first time, systemically important hedge funds;

• To endorse and implement the FSF’s tough new principles on pay and compensation and to support sustainable compensation schemes and the corporate social responsibility of all firms;

• To take action, once recovery is assured, to improve the quality, quantity, and international consistency of capital in the banking system. In future, regulation must prevent excessive leverage and require buffers of resources to be built up in good times;

• To take action against non-cooperative jurisdictions, including tax havens. We stand ready to deploy sanctions to protect our public finances and financial systems. The era of banking secrecy is over. We note that the OECD has today published a list of countries assessed by the Global Forum against the international standard for exchange of tax information;

• To call on the accounting standard setters to work urgently with supervisors and regulators to improve standards on valuation and provisioning and achieve a single set of high-quality global accounting standards; and:

• To extend regulatory oversight and registration to Credit Rating Agencies to ensure they meet the international code of good practice, particularly to prevent unacceptable conflicts of interest.

16. We instruct our Finance Ministers to complete the implementation of these decisions in line with the timetable set out in the Action Plan. We have requested the FSB and the IMF to monitor progress, working with the Financial Action Taskforce and other relevant bodies, and to provide a report to the next meeting of our Finance Ministers in Scotland in November.

Strengthening our global financial institutions :

17. Emerging markets and developing countries, which have been the engine of recent world growth, are also now facing challenges which are adding to the current downturn in the global economy. It is imperative for global confidence and economic recovery that capital continues to flow to them. This will require a substantial strengthening of the international financial institutions, particularly the IMF. We have therefore agreed today to make available an additional $850 billion of resources through the global financial institutions to support growth in emerging market and developing countries by helping to finance counter-cyclical spending, bank recapitalisation, infrastructure, trade finance, balance of payments support, debt rollover, and social support.

To this end:

• We have agreed to increase the resources available to the IMF through immediate financing from members of $250 billion, subsequently incorporated into an expanded and more flexible New Arrangements to Borrow, increased by up to $500 billion, and to consider market borrowing if necessary; and:

• We support a substantial increase in lending of at least 100 billion dollars by the Multilateral Development Banks (MDBs), including to low income countries, and [will] ensure that all MDBs have the appropriate capital [Text unclear here].

18. It is essential that these resources can be used effectively and flexibly to support growth. We welcome in this respect the progress made by the IMF with its new Flexible Credit Line (FCL) and its reformed lending and conditionality framework which will enable the IMF to ensure that its facilities address effectively the underlying causes of countries’ balance of payments financing needs, particularly the withdrawal of external capital flows to the banking and corporate sectors.

We support Mexico’s decision to seek an FCL arrangement.

19. We have agreed to support a general SDR allocation which will inject $250 billion into the world economy and increase global liquidity, and urgent ratification of the Fourth Amendment.

20. In order for our financial institutions to help manage the crisis and prevent future crises we must strengthen their longer term relevance, effectiveness and legitimacy. So alongside the significant increase in resources agreed today we are determined to reform and modernise the international financial institutions to ensure they can assist members and shareholders effectively in the new challenges they face. We will reform their mandates, scope and governance to reflect changes in the world economy and the new challenges of globalisation, and that emerging and developing economies, including the poorest, must have greater voice and representation. This must be accompanied by action to increase the credibility and accountability of the institutions through better strategic oversight and decision making.

To this end:

• We commit to implementing the package of IMF quota and voice reforms agreed in April 2008 and call on the IMF to complete the next review of quotas by January 2011;

• We agree that, alongside this, consideration should be given to greater involvement of the Fund’s Governors in providing strategic direction to the IMF and increasing its accountability;

• We commit to implementing the World Bank reforms agreed in October 2008. We further look forward to further recommendations, at the next meetings, on voice and representation reforms on an accelerated timescale, to be agreed by the 2010 Spring Meetings;

• We agree that the heads and senior leadership of the international financial institutions should be appointed through an open, transparent, and merit-based selection process; and:

• Building on the current reviews of the IMF and World Bank we asked the Chairman, working with the G-20 Finance Ministers, to consult widely in an inclusive process and report back to the next meeting with proposals for further reforms to improve responsiveness and adaptability of the IFIs.

21. In addition to reforming our international financial institutions for the new challenges of globalisation we agreed on the desirability of a new global consensus on the key values and principles that will promote sustainable economic activity. We support discussion on such a charter for sustainable economic activity with a view to further discussion at our next meeting.

We take note of the work started in other fora in this regard and look forward to further discussion of this charter for sustainable economic activity.

Resisting protectionism and promoting global trade and investment:

22. World trade growth has underpinned rising prosperity for half a century. But it is now falling for the first time in 25 years. Falling demand is exacerbated by growing protectionist pressures and a withdrawal of trade credit. Reinvigorating world trade and investment is essential for restoring global growth. We will not repeat the historic mistakes of protectionism of previous eras.

To this end:

• We reaffirm the commitment made in Washington: to refrain from raising new barriers to investment or to trade in goods and services, imposing new export restrictions, or implementing World Trade Organisation (WTO) inconsistent measures to stimulate exports. In addition we will rectify promptly any such measures. We extend this pledge to the end of 2010;

• We will minimise any negative impact on trade and investment of our domestic policy actions including fiscal policy and action in support of the financial sector. We will not retreat into financial protectionism, particularly measures that constrain worldwide capital flows, especially to developing countries;

• We will notify promptly the WTO of any such measures and we call on the WTO, together with other international bodies, within their respective mandates, to monitor and report publicly on our adherence to these undertakings on a quarterly basis;

• We will take, at the same time, whatever steps we can to promote and facilitate trade and investment; and:

• We will ensure availability of at least $250 billion over the next two years to support trade finance through our export credit and investment agencies and through the MDBs.

We ask our regulators to make use of available flexibility in capital requirements for trade finance.

23. We remain committed to reaching an ambitious and balanced conclusion to the Doha Development Round, which is urgently needed. This could boost the global economy by at least $150 billion per annum. To achieve this we are committed to building on the progress already made, including with regard to modalities.

24. We will give renewed focus and political attention to this critical issue in the coming period and will use our continuing work and all international meetings that are relevant to drive progress.

Ensuring a fair and sustainable recovery for all:

25. We are determined not only to restore economic growth but to lay the foundation for a fair and sustainable world economy. We recognise that the current crisis has a disproportionate impact on the vulnerable in the poorest countries and recognise our collective responsibility to mitigate the social impact of the crisis to minimise long-lasting damage to global potential.

To this end:

• We reaffirm our historic commitment to meeting the Millennium Development Goals and to achieving our respective ODA pledges, including commitments on Aid for Trade, debt relief, and the Gleneagles commitments, especially to sub-Saharan Africa;

• The actions and decisions we have taken today will provide $50 billion to support social protection, boost trade and safeguard development in low income countries, as part of the significant increase in crisis support for these and other developing countries/ emerging markets;

• We are making available resources for social protection for the poorest countries, including through investing in long-term food security and through voluntary bilateral contributions to the World Bank’s Vulnerability Framework, including the Infrastructure Crisis Facility, and the Rapid Social Response Fund;

• We have committed, consistently with the new income model, that additional resources from agreed sales of IMF gold will be used, together with surplus income, to provide $6 billion additional concessional and flexible finance for the poorest countries over the next 2 to 3 years. We call on the IMF to come forward with concrete proposals at the Spring Meetings;

• We have agreed to review the flexibility of the Debt Sustainability Framework and call on the IMF and World Bank to report to the IMFC and Development Committee at the Annual Meetings; and

• We call on the UN, working with other global institutions, to establish an effective mechanism to monitor the impact of the crisis on the poorest and most vulnerable.

26. We recognise the human dimension to the crisis. We commit to support those affected by the crisis by creating employment opportunities and through income support measures. We will build a fair and family-friendly labour market for both women and men.

We therefore welcome the reports of the London Jobs Conference and the Rome Social Summit and the key principles they proposed. We will support employment by stimulating growth, investing in education and training, and through active labour market policies, focusing on those who are most vulnerable. We call upon the ILO, working with other relevant organisations, to assess the actions taken and those required for the future.

27. We agreed to make the best possible use of investment funded by fiscal stimulus programmes towards the goal of building a resilient, sustainable, and green recovery.

We will make the transition towards clean, innovative, resource efficient, low carbon technologies and infrastructure. We encourage the MDBs to contribute fully to the achievement of this stated objective. We will identify and work together on further measures to build sustainable economies.

28. We reaffirm our commitment to address the threat of irreversible climate change, based on the principle of common but differentiated responsibilities, and to reach agreement at the UN Climate Change conference in Copenhagen in December 2009.

Delivering our commitments:

29. We have committed ourselves to work together with urgency and determination to translate these words into action. We agreed to meet again before the end of this year to review progress on our commitments (6).

(6) Tax Information Exchange Agreements (TIEAS) are based on a model OECD agreement on the exchange of information on tax matters, developed by the OECD Global Forum Working Group on Effective Exchange of Information. The purpose of this Agreement is to promote international co-operation in tax matters through the exchange of information. It was developed by the OECD’s Global Forum Working Group on Effective Exchange of Information (“the Working Group”). The Working Group consisted of representatives from OECD Member countries as well as delegates from Aruba, Bermuda, Bahrain, Cayman Islands, Cyprus, The Isle of Man, Malta, Mauritius, the Netherlands Antilles, the Seychelles and San Marino (the Italian mafia’s de facto jurisdiction).
The Agreement grew out of the work undertaken by the OECD to address harmful tax practices.

The lack of effective exchange of information is one of the primary criteria used in determining harmful tax practices. The mandate of the Working Group was to develop a legal instrument that could be used to establish effective exchange of information. The Agreement represents the standard of effective exchange of information for the purposes of the OECD’s initiative on harmful tax practices. This Agreement text, which was released by the OECD in April 2002, is not a binding instrument but contains two models for bilateral agreements. A number of bilateral agreements have been based on this Agreement.

Recent bilateral Tax Information Exchange Agreements (TIEAS) monitored by this service include:

• Antigua & Barbuda – Australia, 30 January 2007
• Antigua & Barbuda – United States, 06 December 2000
• Antigua & Barbuda – Australia, 30 January 2007
• Antigua & Barbuda – United States, 06 December 2000
• Aruba – United States, 21 November 2003
• Australia – Bermuda, 15 November 2005
• Australia – British Virgin Islands, 27 October 2008
• Australia – Isle of Man, 29 January 2009
• Australia – Netherlands Antilles, 01 March 2007
• Bahamas – United States, 25 January 2002
• Bermuda – United Kingdom, 4 December 2007
• British Virgin Islands – United States, 03 April 2002
• Cayman Islands – United States, 27 November 2001
• Denmark – Cayman Islands, 1 April 2009
• Denmark – Guernsey, 28 October 2008
• Denmark – Isle of Man, 30 October 2007
• Denmark – Jersey, 28 October 2008
• Faroes – Cayman Islands, 1 April 2009
• Faroes – Guernsey, 28 October 2008
• Faroes – Isle of Man, 30 October 2007
• Faroes – Jersey, 28 October 2008
• Finland – Cayman Islands, 1 April 2009
• Finland – Guernsey, 28 October 2008
• Finland – Isle of Man, 30 October 2007
• Finland – Jersey, 28 October 2008
• France – Guernsey, 24 March 2009
• France – Isle of Man, 26 March 2009
• France – Jersey, 23 March 2009
• Germany – Guernsey, 26 March 2009
• Germany – Isle of Man, 02 March 2009
• Greenland – Cayman Islands, 1 April 2009
• Greenland – Guernsey, 28 October 2008
• Greenland – Isle of Man, 30 October 2007
• Greenland – Jersey, 28 October 2008
• Guernsey – Netherlands, 25 April 2008
• Iceland – Cayman Islands, 1 April 2009
• Iceland – Guernsey, 28 October 2008
• Iceland – Jersey, 28 October 2008
• Ireland – Guernsey, 26 March 2009
• Ireland – Jersey, 26 March 2009
• Isle of Man – Ireland, 24 April 2008
• Isle of Man – Netherlands, 12 October 2005
• Isle of Man – Norway, 30 October 2007
• Isle of Man – Sweden, 30 October 2007
• Isle of Man – United Kindom, 29 September 2008
• Isle of Man – United States, 02 October 2002
• Jersey – Germany, 4 July 2008
• Jersey – Netherlands, 20 June 2007
• Jersey – United States, 04 November 2002
• Netherlands Antilles – New Zealand, 01 March 2007
• Netherlands Antilles – Spain, 10 June 2008
• Netherlands Antilles – United States, 17 April 2002
• Norway – Cayman Islands, 1 April 2009
• Norway – Guernsey, 28 October 2008
• Norway – Jersey, 28 October 2008
• Sweden – Cayman Islands, 1 April 2009
• Sweden – Guernsy, 28 October 2008
• Sweden – Jersey, 28 October 2008
• United Kingdom – British Virgin Islands, 29 October 2008
• United Kingdom – Guernsey, 20 January 2009
• United Kingdom – Jersey, 10 March 2009
• United States – Liechtenstein, 8 December 2008
• United States – Gibraltar, 31 March 2009

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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It has now been established that the National Security Agency (NSA) works with/controls Microsoft, Norton, McAfee, and others, in pursuit of the Pentagon’s vast BIG BROTHER objective, directed from the ‘highest’ levels (not the levels usually referred to) which seek to have every computer in the world talk direct to the Pentagon or to NSA’s master computers.

This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

We use a proprietary FOREIGN Internet Security program which devours every PC Trojan, worm, scam, porn attack and virus that the National Security Agency (NSA) throws at us. We are offering this program (CD) to our clients and friends, at a premium. The program comes with our very strong recommendation, but at the same time, if you buy from us, you will be helping us finance ongoing exposures of the DVD’s World Revolution and the financial corruption that has been financing it.

The familiar US proprietary Internet Security programs are by-products of US counterintelligence, and are intended NOT to solve your Internet security problems, but to spy on you and to report what you write about, to centralised US electronic facilities set up for the purpose. You can now BREAK FREE from this syndrome while at the same time helping us to MAINTAIN THE VERY HEAVY PRESSURE UPON THE CRIMINALISTS WE HAVE BEEN EXPOSING, by ordering this highest quality FOREIGN (i.e., non-US) INTERNET SECURITY SOLUTION that we have started advertising on this website. This offer has been developed in response to attacks we have suffered from the NSA nerds who appear to have a collective mental age of about five years, judging by their output.

• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

The premium contains a donation for our exposure work and also covers our recommendation based on the Editor’s own experience that this INTERNET SECURITY SOLUTION will make your Internet life much easier. Some versions have a ‘Preview before downloading’ feature.

*VISTA: Virtual Instant Surveillance Tactical Application.

BITING CRITICISM OF THE CORRUPTION GOES ‘MAINSTREAM’

WAGONER COME-UPPANCE FOLLOWED OUR DERIVATIVES LEAFLET EXPOSURE

Tuesday 31 March 2009 20:00

FURTHER (BRIEF) UPDATE 2ND APRIL: THE U.S. PRESIDENT DID RISE TO THE OCCASION…
President Obama did rise to the occasion in London in certain pertinent respects, and was not only present at the meeting but gave an hour-long press conference as well. This indicates that he was able to ‘deliver’ in respect of certain crucial matters relevant to the whole world, which are alluded to obliquely in the communique. Sensitive and uniquely experienced leadership and inspiration from a certain illustrious quarter is believed to have pleased and assisted both parties concerned. For the time being, pending ‘further and better particulars’, the Editor will not be reporting, tonight at least, on the overall outcome of the G-20 meeting which was both satisfactory and unsatisfactory at one and the same time. The unsatisfactory features will have to be dealt with, but not quite yet. As far as we can tell, the President didn’t get to see the Crown Jewels in the Tower of London!

UPDATE 2ND APRIL: PRESIDENT OBAMA ‘TO GO SIGHTSEEING AT THE TOWER OF LONDON’
See at the top of the report ABOVE ‘NEW REPORT STARTS HERE’…

UPDATE AT FOOT OF THIS REPORT: WHAT DOES SARKOZY MEAN BY ‘DELIVERABLES’?
See immediately above to the reposted ‘snipped’ text from our posting dated 26th March

• BRITISH TV BROADCASTS OUR BARCLAYS REPORT PLUS THE HIGH-LEVEL ‘INTERVIEW’

• ‘MAINSTREAM’ REALISES IT IS BEING LIED TO AND MANIPULATED

• PRE-G-20 MEETING VIBES CONTINUE TO ‘GO PEARSHAPED’

• ABOUT THAT ‘DUMP’ (CONCRETE NUCLEAR BUNKER?) IN CANNING TOWN

• WAGONER ‘REMOVAL’ AND OUR ICR DERIVATIVES LEAFLET

• METROPOLITAN POLICE UPDATE ON THE 2ND JUNE 2008 RAIDS IN LONDON

• REPEAT OF MATERIAL THAT WAS ‘SNIPPED’ FROM OUR REPORT DATED 26TH MARCH

• MADOFF ‘VICTIMS’ LIST: Two reports were posted on 6th February 2009 containing the entire list of customers of Bernard L. Madoff Securities, Inc.. Because the list is so huge, we divided it into two segments: Clients A-N; and clients O-Z, plus a Miscellaneous Section. See: Archive. Our list is the easiest to load and clearest of the lists that have been reproduced privately on the Internet.

• We have just published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also just published are issues of our titles Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs. For further details, please check the second white panel on the Home Page.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website.

• ADVERTISEMENT: Details of the Internet Security Solution software offered by this service in conjunction with a donation are appended at the very foot of this report, below the legal data. See also the catalogue by clicking on World Reports Limited and scrolling down to the bottom.

• DONATIONS: You can help finance these exposures (which the Editor has to prepare on top of his normal publishing responsibilities) by sending us a donation. Press Make a Donation, which is live, and it takes you straight to our ultra-safe ordering system, which accepts Visa and MasterCard.

By Christopher Story FRSA, Editor and Publisher, International Currency Review and associated intelligence publications and information services. See this site for details and ordering facility.

• CORRESPONDENCE TO THE EDITOR: We routinely, automatically DELETE all emails which OMIT any element of the requested coordinates. We are not prepared to deal with anonymous spooks and other cowards who are too scared to provide their coordinates, for identification.

• The CONTACT US facility is found in the red box throughout this combined website.

PRESIDENT OBAMA ‘TO GO SIGHTSEEING AT THE TOWER OF LONDON’
It emerged in the course of Wednesday 1st April, always allowing for April Fool’s Day of course, that the ‘signal’ emitted by the frenetic operative President Nicolas Sarkozy by his provocative use of the word ‘deliverables’ represented the surfacing of an immense row that has been blazing behind the scenes as these characters vie among themselves for leverage in the context of the fact that President Obama may have arrived empty-handed for the G-20 Meeting, after blocking the releases on Monday (as reported below). You could almost cut the tension with a kitchen knife.

According to our sources, the President of the United States is to go sightseeing at the Tower of London tomorrow, having been told by President Sarkozy and one or two other leaders that he cannot surface at the Canning Town ExCel Centre dump with the rest of them unless he provides concrete undertakings concerning a timetable for the releases.

• In other words, it is reported to us by several sources that the President of the United States and his team have been EXCLUDED from the G-20 meeting. It’s quite difficult to imagine that this state of affairs will have been patched up overnight, but bravado and brinkmanship may be in play.

EXECUTION, NOT MORE ‘UNDERTAKINGS’ THAT THE U.S. WILL RENEGE UPON, IS REQUIRED
If this is true (and the entire ghastly situation is typically in a state of extreme flux as the bickering, bargaining and bludgeoning among the rats in this sack continues right up to the ‘finishing’ line), it would be an absolutely deplorable outcome SINCE NO UNDERTAKING GIVEN BY THE AMERICAN GOVERNMENT can be relied upon. How any foreign power can imagine otherwise, after the abuses and abominations perpetrated in recent years by Washington, is a mystery.

It would be an act of extreme folly for the other G-20 leaders to accept anything at all other than EXECUTION. US undertakings that execution will occur in the future, WILL BE BROKEN.

FINGER-POINTING IN PREPARATION FOR A CASCADE OF EXCUSES FOR NON-PERFORMANCE
Certain sources inform us that the problem all along has been that the Connecticut Trust group, serving the interests of the Bush Cabal, have sabotaged the releases process throughout and that certain top trustees have made a habit of going to the bank, creaming off the profit, and retiring to wait for the start-up process to begin all over again: and that this behaviour has continued for a considerable period of time. Whether this or something like it is near the truth or not, what is fact is that the President of the United States can ORDER compliance with his requirements, and that he can do so inter alia by issuing Executive Orders accordingly.

Thus he could issue Executive Orders to each of the THIRTEEN banks and the other associated parties, and to the Connecticut Trust, DEMANDING compliance according to a specific timeframe.

We are, however, STAGGERED, that such suggestions are floating around at this late stage. If this formula, or something like it, were appropriate, it should have been applied the moment President Obama came to power. Instead of which, we have drifted into April, with the situation becoming more and more tense as these rats smile in public but attack each other behind the scenes.

They are ALL in severe danger of getting up the noses of the whole world with their self-centred, destructive antics. The world is expecting results, and by the vibes sensed to date, all that can be identified is MORE TENSION, MORE SQUABBLING, MORE DISCORD, MORE GRANDSTANDING AND SO FAR, NO SIGN THAT THE FRAUDULENT FINANCE ISSUES ARE BEING ADDRESSED.

THE ORCHESTRATED OUTBREAKS OF LUNACY IN LONDON:
As for the antics in London, we have several points to make:

• At the Press Conference with Gordon Brown in the morning of 1st April 2009, April Fool’s Day, assinine British journalists wasted the world’s time with insulting, childish questions. Some idiot from the Sun, a filthy rag published by the globalist with 33 offshore subsidiaries, Rupert Murdoch, asked the President of the United States some fatuous question about football and several other non-issues. You probably observed the huge smile that broke across the face of Gordon Brown, for whom smiling is normally a physical problem. The reason for this gorgeous smile?

The nutcase at the Sun had obligingly asked three goofy questions, so a nice big chunk of the Press ‘Conference’ would now be taken up with trivia of the most degrading kind, thereby relieving the leaders of the residual likelihood that they might be called upon to answer probing questions of substance. If Barack Obama had possessed any spine, he would have retorted that he is in the British capital to do serious business, and has no time or inclination to answer foolish questions.

But no. Lots and lots of precious minutes were deliberately squandered in this display of fatuous stupidity, which degraded the office of the Presidency and made the British Prime Minister look even more trite than has become the norm. But wow, we’ve never seen him smile like that before!

• Concerning the ‘rioting’, you will have observed that the number of ruffians was very modest, probably not more than 3,000. This would appear to be the sum total of the controlled rent-a-mob, directed by paid agents, that could be summoned up to perform the ESSENTIAL FUNCTIONS OF OBFUSCATION, DIVERSION AND REDIRECTION, so that the BBC, CNBC et al could focus on these childish antics while the bickering, bargaining and bludgeoning continued behind the scenes in the rat-sack. Reasons that we can confirm that the above is a quasi-accurate summary of the situation include knowledge that paid agents were at work (as in former overt Communist countries), and the obvious fact that the Metropolitan Police could perfectly well have cordoned off much of the City of London so that the rent-a-mob could not get close enough to Royal Bank of Scotland to break all their street level windows.

Mind you, no-one anywhere in the world will have shed a tear about that particular display of vandalism: indeed, one would be inclined to the view that smashing windows at RBS may have been a ‘licensed activity’, and probably organised deliberately.

The other purpose of this orchestrated theatrical display, which may be ‘escalated’ on Thursday, will have been to feed ‘revolutionary TV coverage’ all round the world, in accordance with the World Revolutionary remit to which manipulative elements behind the scenes are working. As for the BBC’s sycophantic coverage of the rabble, nothing gets in the way of that subversive entity’s perverse insistence upon maximising the potential for fostering unease, dissent and tension.

Come the real counter-revolution, the British Broadcasting Corporation will need to be severely reformed and put back on a charter which requires it to elevate standards of morality across the board and to cease and desist from its perverse role as an instrument of the Revolution.

• NEW REPORT STARTS HERE:

BRITISH TV BROADCASTS OUR BARCLAYS REPORT PLUS THE HIGH-LEVEL ‘INTERVIEW’
While the Editor was travelling yesterday (he is back in London), our report dated 26th (and 30th) March was extensively publicised on a British TV network, in the afternoon. The two segments that were taken up by ‘mainstream’ TV were the section dealing with the Barclays Bank corruption and the judicial cover-up, and Lord Oakshott’s grim exposure of that bank’s nefarious operations in the House of Lords; and the ‘dialogue’ between President Obama and The Queen, written by the Editor of this service on the basis of ‘relevant information’.

Apparently the fact that our reports were taken up by ‘mainstream’ TV annoyed some people, as though we ourselves sought that coverage. No, we did not. We haven’t solicited independent coverage for anything that we have ever publicised. There’s no need to. That’s the whole point.

It is interesting that those who were annoyed, reacted to the reports ‘going mainstream’. Think about that. What this implies is that, as we have said before, so long as the reports are somehow confined to the Fifth Estate, there’s not a problem (of exposure): but when the crossover takes place, these people get rattled. THIS IS BACK TO FRONT. We know for a fact that our readership, per report, exceeds the total circulations of all British newspapers combined. Therefore, the boot should be on the other foot: it is the Fifth Estate that has been spearheading these exposures, not the ‘mainstream’: it didn’t wake up to the fact that there was a problem until the roof was about to fall in. Everyone knows this, so it astonishes us that our crossover into the ‘mainstream’ was a problem for those who were ‘annoyed’. They seem to be somewhat behind the curve here.

‘MAINSTREAM’ REALISES IT IS BEING LIED TO AND MANIPULATED
This also shows that the ‘mainstream’, realising it is being deceived, manipulated, controlled and lied to, is now accessing those sources of information that can be trusted within the Fifth Estate (a.k.a. the Internet). This is a NEW development.

And pertinent to this was our reference in the 30th March report to the likelihood that ‘mainstream’ journalists are venting their professional annoyance, even anger, at being deceived, manipulated, controlled and lied to, by rubbishing the characters and behaviour of key globalist operatives on the stage ahead of the overhyped G-20 meeting to be held out at that dump in Canning Town.

PRE-G-20 MEETING VIBES CONTINUE TO ‘GO PEARSHAPED’
Concerning which, everything, we understand, is going pearshaped in sync, given that:

• As widely publicised, President Sarkozy of France has threatened to walk out of the dump if the meeting papers over the cracks and doesn’t tackle the fundamental problems head-on: but his definition of the underlying problems remains unclear as he doesn’t define his terms.

• President Obama blocked the releases yesterday, according to informed sources: because:

• The payee countries are squabbling among themselves, with the big powers and with the United States, over what projects are to be funded, who is getting what, when, and/or all of the above, and:

• Our sources stress that President Obama wants the payouts done properly.

•NOTE: This is what we are being advised. However we remain AGNOSTIC/SCEPTICAL as to whether this is a cover for a failure to release, or the opposite. Right now, it’s not yet clear.

• Memorandum item: Republican crooks in the Congress are reported to be wingeing because they aren’t getting the kickbacks to which they’ve become accustomed. Applies to the others, too.

ABOUT THAT ‘DUMP’ (CONCRETE NUCLEAR BUNKER?) IN CANNING TOWN
The ExCel Centre is the most hideous bunker-style block of concrete imaginable. We understand that in addition to the reason for relegation of the G-7 meeting to Canning Town given earlier (it will be the first time that any Head of State has been anywhere near the place since the days of King Canute), this hideous location was chosen precisely because it is such a long way from the centre of the British capital city, so that if it is attacked, the physical collateral damage to the surrounding area ‘won’t matter’, in comparison to the disaster which would occur if the Queen Elizabeth Centre opposite Westminster Abbey were to be attacked. In such a catastrophe, the ancient, venerable Westminster Abbey might be destroyed. Also, one presumes that the remote concrete dump was constructed for a purpose, namely to withstand any category of attack, even a nuclear attack.

WAGONER ‘REMOVAL’ AND OUR ICR DERIVATIVES LEAFLET
As reported earlier, a leaflet containing three charts extracted from International Currency Review, Volume 34, #2, distributed in March, has been disseminated to relevant quarters in Washington DC and in the Virginia area. The charts show the participation of General Motors, Ford Motor Company, and General Electric in the MBS-CDO-CDS Fraudulent Finance Non-recourse Carousel. Extensive coverage of this corruption is provided in the International Currency Review presentation.

Mr Wagoner, CEO of General Motors was ‘removed’ from his post SPECIFICALLY because of GM’s participation in these transactions, we have been advised.

• A subtle point is appropriate here. Do not imagine for a single moment that there was ever any intention that Mr Wagoner should leave his post, UNTIL the participation of GM in this Fraudulent Finance activity was publicised: but given that International Currency Review Volume 34. #2 is now resident on desks and in official offices all around the world, there was nothing much they could do to de-publicise it, especially since we have distributed the leaflet with the charts showing how this scam was perpetrated and how General Motors, in receipt of colossal US taxpayer funds, had been engaged in these activities. Another component of the Octopus’s scamming activity BLOWN.

METROPOLITAN POLICE UPDATE ON THE 2ND JUNE 2008 RAIDS IN LONDON
The Metropolitan Police have updated the press concerning the outcome, at least that element thereof that can be reported for public consumption, of the massive police raids on ‘Safety Lock Boxes’ located in Mayfair, Edgeware and Hampstead, previously reported by this service.

In a conversation with Scotland Yard’s Press Office on 31st March, the Editor established that 2,457 lock boxes and their contents were restored to their rightful owners, while more than 3,500 of the boxes and their contents were confiscated and have triggered massive worldwide investigations.

Bear in mind, when reading what follows, that we are NOT being told that the Lock Boxes held the stolen and other collateral used for Fraudulent Finance operations, because this subject remains taboo except with the Fifth Estate. However reading between the lines, the following summary of the police update, which appeared in The Times, London, dated 25th March 2009 [page 17], is quite revealing, under the circumstances. The Editor spoke to the Press Office to check out the report:

‘A police raid [backed by 300 heavily armed police marksmen – Ed.] on safety deposit boxes has revealed “an Aladdin’s cave of criminality” spanning murder, money-laundering, paedophilia, people-trafficking and drug-running, leading to 1,000 separate inquiries around the world’.

‘More than 3,500 deposit boxes were raided last June by officers from the Metropolitan Police’s Specialist Crime Directorate. They seized £35 million in cash, of which £1.0 million has yet to be claimed, dozens of passports, cocaine, FORGED BANKING BONDS, including one for $4.95 million, and suitcases full of gold and cannabis (marijuana). The Times has learned that the contents of some of the boxes are being investigated by the Counter Terrorism Command’.

‘Seven hundred of the box-holders are being referred to Customs for suspected tax evasion involving £15.0 million. So far, 11 people have been charged in connection with the raid(s), codenamed Operation Rize, and 40 people have been arrested’.

‘Detective Chief Inspector Mark Ponting, from the Economic and Special Crime Command, said:

‘”Some of the boxes have not been accessed for some years, including boxes that contain millions of pounds. Some belonged to prisoners hoping to pick up their stashes on emerging from jail’.

• But of course, this is only the information that’s allowed out FOR PUBLIC CONSUMPTION.

REPEAT OF MATERIAL THAT WAS ‘SNIPPED’ FROM OUR REPORT DATED 26TH MARCH
Given the arrogance of those responsible for the illegal ‘snipping’ of substantive portions of our report dated 26th March, which we restored and also reposted with the report posted on the 30th,
and given that these portions remain strictly pertinent to what is happening this week in London, we are reposting the ‘snipped’ material AGAIN, not least to make the point that if you interfere with this website, WE WILL RETALIATE. Further, as one friend put it last night on the Editor’s return:

• If they want a rest from the biting criticism which is clearly ‘hurting’, the way forward is to STOP THE CORRUPTION and to PAY OUT THE HIJACKED RELEASES instead of complaining about all this EXPOSURE. The exposure is a specific consequence of the corruption: so, to bring an end to the exposure, the smart thing is to STOP THE CORRUPTION. But since THIS IS NOT HAPPENING, the exposures will continue until these crooks come to their senses (if they have any).

• It is noticeable that more and more observers are cottoning on that CRIMINALITY lies behind the global crisis. This wasn’t the case even a few weeks ago. The secret of these exposures is to focus on the fact that we are dealing with a BLACK CABAL OF HIGH-LEVEL CRIMINALS who do not appear to realise that they have been STOOD UP TO and that the British, American and external publics are less and less prepared to put up with their abuses and abominations.

• Indeed we now are being advised that the mood of the British public is only a few notches below one of UNRESTRAINED FURY at the insensitive arrogance of these serial criminalist scumbags.

• So, public relations-wise, the grandstanding for the G-20 conference ISN’T WORKING.

WHAT DOES SARKOZY MEAN BY HIS OUTBURST USING THE WORD ‘DELIVERABLES’?
As a French speaker, the Editor of this service has difficulty imagining that President Sarkozy used the word ‘deliverables’ with the intention that it should refer to anything OTHER than the releases which have been hijacked by the reprobate US authorities for years. However as is ALWAYS the case with these two-faced, double-minded operatives, scope exists for the French President, or his hard-faced Finance Minister, to ‘explain’ later that what he meant was NOT what those ‘in the know’ THINK he meant. So although we reproduce herewith several reports of Lagarde’s interview with the BBC on Monday, it is still (slightly) open to question whether the French President meant what we and others BELIEVE he meant.

Further, the Editor has never come across the word ‘deliverables’ used in the French language like this, so the strong presumption must be that Sarkozy chose this word deliberately, in order to raise the temperature and try to FORCE resolution of the releases.

At this juncture, we prefer to quote published sources verbatim, and leave the reader to reach his or her own conclusions. As of 1:15am on April Fool’s Day, 228 sources posted on the Internet were quoting this outburst. A FEW had REMOVED the word ‘deliverables’: which, like the ‘snipping’ of our text on 29th March, effectively CONFIRMS that the ‘releases’ interpretation is correct.

This fracas ALSO demonstrates that RESISTANCE (see above) to the releases has persisted right up to the threshold of the G-20 meeting, implying an environment of absolute chaos and confusion, as is typically to be expected of rats in a sack, especially this demented strain of rats:

(1) The Daily Telegraph: Report by Henry Samuel in Paris and Toby Harnden in London: Excerpts:

‘If Mr Sarkozy’s strident demands for a new, restrictive regulatory structure were not met then he would leave an “empty chair”, the French Presidnet’s Finance Minister warned, hours before President Barack Obama arrived in London to meet Gordon Brown before the start of the summit on the global economic crisis’.

‘”President Sarkozy was very clear on that front: he said if the deliverables were not there, I won’t sign the communique”, Christine Largarde said’.

‘”It means walking away. I think he’s very determined”‘.

• Memorandum item: The authors of this report thought that Sarkozy was talking about regulation, and demonstrated that they appeared to have no clue what he was really (probably) talking about.

• FURTHER Memorandum item (inserted Wednesday 6:30pm UK time): The PRINTED edition of The Daily Telegraph today OMITTED the pointed reference to ‘deliverabes’, confirming the analysis that this was a one-off SIGNAL (typical of the Illuminati’s modus operandi) which was NOT MEANT TO RESONATE beyond the purpose for which it was intended: i.e. to send a sharp reminder to Messrs Brown Sarkozyque that they had BETTER DELIVER, OR ELSE.

(2) ABC News: Report by Karen Travers and Jake Tapper: Excerpts:

‘Tensions over how to handle the global economic crisis erupted before the G-20 summit even began, with French President Nicolas Sarkozy threatening today to walk out of the meeting if the countries do not agree to stronger international financial regulations’.

‘French President Nicolas Sarkozy’s tough talk puts him at odds with President Obama who is en route to the meeting of the world’s wealthy nations’.

‘The French President is quoted in the Paris newspaper Le Figaro vowing, “If there’s no progress in London, there’ll be an empty chair. I’ll get up and leave”‘.

‘”Yes, we will,” French Finance Minister Christine Lagarde told the BBC’.

‘”President Sarkozy was very clear on that front. He said that ‘If the deliverables are not there, I won’t sign the communiqué’… It means walking away”‘.

‘The report cited Sarkozy’s advisers as saying the French delegation would balk at a summit that produces a “false success with language that sounds good but contains no commitments”‘.

‘The BBC interview brought into public view tensions that have been simmering for weeks among European countries and the U.S. over how to deal with the economic meltdown’.

‘Sarkozy had earlier said the economic crisis was caused by “Anglo-Saxons” and is pushing for tougher regulations, including rules that would apply to money launderers, tax havens, and companies and hedge funds that could threaten the economic system’.

• Memorandum item: The authors of this report thought that Sarkozy was talking about regulation, and demonstrated that they appeared to have no clue what he was really (probably) talking about.

(3) Bloomberg: Report by Simon Kennedy and Francois de Beaupuy: Excerpts:

‘French President Nicolas Sarkozy will walk out of this week’s Group of 20 summit if his push for stricter international financial regulation flops, Finance Minister Christine Lagarde told the British Broadcasting Corporation’.

‘Sarkozy will refuse to sign any statement if he feels “the deliverables are not there”, Lagarde said in the interview. “I think he is very determined”’.

‘“It’s a bombshell to be honest,” said Philip Whyte, senior research fellow at the London-based Center for European Reform. “If such a high-profile leader would walk out of the summit, it likely would be seen as very negative on the stock and bond markets. It would highlight the disunity among the leaders when the times require a show of unity, concrete actions’. [BLAH, BLAH].

• Memorandum item: The authors of this report thought that Sarkozy was talking about regulation, and demonstrated that they appeared to have no clue what he was really (probably) talking about.

(4) The Wall Street Journal: Report by David Gauthier-Villars: Excerpts:

‘French Finance Minister Christine Lagarde said President Nicolas Sarkozy would walk away from this week’s Group of 20 meeting in London if no progress was made on global financial regulations’.

‘”President Sarkozy was very clear on that front”, Ms. Lagarde said in an interview with the BBC Television recorded on Monday and made available on the BBC’s website on Tuesday. “He said: ‘If the deliverables aren’t there, I won’t sign the communiqué’. It means walking away”‘.

‘Lagarde’s office said Tuesday that she had intended to underline that President Sarkozy is “highly determined” to achieve concrete results at the G-20 meeting’.

‘A spokesman said her comments should not be interpreted as an indication that the French President intends to leave in the middle of the meeting’.

‘Ms. Lagarde’s comment came as the U.S., the U.K. and other members of the G-20 are struggling to reach a consensus on how to tighten financial rules and boost the world economy. The U.S. and the U.K. are calling for tougher financial regulation at the national level, while France and Germany are lobbying in favor of more supra-national regulation’.

‘Asked Tuesday whether he might leave before the end of the summit, President Sarkozy said that he remained focused on working with the other G-20 members to find ways to solve the global economic crisis. “The crisis is too serious for us to hold a summit for nothing,” Mr. Sarkozy said’.

• Memorandum item: Note that in THIS report, Sarkozy is said to have watered down his threat. That REINFORCES the view that the use of the word ‘deliverables’ was intended as a signal to President Obama, who (see above) BLOCKED the releases on Monday, thereby squandering the then 72-hour Swift ‘window’ period for settlement, that Obama’s action in yet again blocking the releases was not appreciated and would be liable to have severe consequences.

HOWEVER, the releases cannot be done ‘suddenly’: ANOTHER ‘Swift’ window period of 72 hours is necessary. An undertaking by Mr Obama at the G-20 to complete the process would be absolutely meaningless, since he cynically reneged on his signed undertakings last year, as re-reported in the ‘interview’ between Obama and The Queen that was ‘snipped’ from our report dated 26th March and reposted as reported above, and with this updated report [see below]. On the basis of these considerations, we suspect that the G-20 will wind up glossing over the issue of the ‘deliverables’, having to put up with another (empty?) undertaking from President Obama to complete.

After all, it was reported to us that Obama BLOCKED the releases on Monday, thus prompting the Sarkozy outburst, or perhaps the outburst pre-empted the blocking. Either way, and given that the countries were reportedly squabbling as indicated above, the omens for the ‘make or break’ pow-wow in the Canning Town nuclear bunker looked dismal as this update was being completed.

That’s why President Sarkozy risked informing the ‘mainstream’ about what is going on, by using the word ‘deliverables’. As you can see (and you can see further by accessing the 228+ postings on this subject), THE ‘MAINSTREAM DIDN’T ‘GET IT’, as it NEVER ASKS THE RIGHT QUESTIONS.

• POSTSCRIPT: VERY INTERESTINGLY, the CURRENT BBC report OMITS the reference to Sarkozy’s remark about ‘deliverables’ and simply asserts, far down in the article almost as an afterthought, that Largarde had said that Sarkozy would walk out if he didn’t get what he wanted. This suggests that a grim rearguard operation to staunch speculation about the voluble French President’s use of the word ‘deliverables’ has been ordered, so that the entire matter remains completely up in the air. Which is JUST PERFECT for the manipulators of the World Revolution.

The talks will be accompanied by tight security, with Metropolitan Police Commander Simon O’Brien last week warning that the capital was about to see an “almost unprecedented level of activity”.

• REPEAT OF THE ‘SNIPPED’ CONTENT FROM 26TH MARCH, FOR THE RECORD:

THE MAD INTENTION: TO MAKE THE ENTIRE DERIVATIVES SECTOR WHOLE AGAIN
With the Lombard Odier-wrapped illicit derivatives trading programme in full swing and being showered with what ‘new money’ the crooks have been able to generate and steal, the criminal official intention is to rebuild the broken derivatives sector, with the assistance of ‘bought and paid for’ corrupt hedge fund operators and money managers (not all of whom are professional sheisters obviously), and to keep the carousel going and building, fed with new money filched from gullible investors, whether borrowed on permissive terms from the Federal Reserve or not, with a view to making the entire derivatives mountain of around $700 trillion (excluding double-counting) ‘whole’ – notwithstanding the reality that hardly any of these derivatives ‘Structured Products’ contain ANY real value at all, since almost all of them are NON-RECOURSE.

This is all explained in the latest issue of International Currency Review, and also in Economic Intelligence Review [see second white panel], as well as in the four-page leaflet containing the three main charts which is being distributed in Washington, DC, and elsewhere.

All that our latest subscriber printed materials do is to point out the stark reality of the fact that these false constructs (derivatives) are by definition totally fraudulent and devoid of value, so that retrospective attempts sponsored by the demented US Government to pass off that they contain value represents a massive, unprecedented fraud on the US taxpayer and future generations of Americans, while at the same time:

• Guaranteeing the accumulation of new mountains of debt arising from the Federal Reserve’s outrageous lending for speculative purposes; and:

• Guaranteeing a hyperinflation. Pundits are now suggesting that this phenomenon will emerge in several years’ time. The Editor’s view is that the choices made by the new bunch of fantasists in charge in Washington are so extreme, So damaging, so wrong-headed and so destabilising, that the hyperinflationary pressures will become apparent much sooner than that – WITHOUT delivering any ‘beneficial’ impact to the ‘real’ economy in the interim.

IS THIS BEING DONE ON PURPOSE?
The decisions made since Obama took office are SO perverse that one is tempted to join those who insist that this is all being done on purpose. The correct answer to such empty speculation is that we don’t know whether this is the case or not.

On the basis of the Christian knowledge that the devil is the author of all lies and confusion, the Editor’s view is that these operatives are wallowing in devilish confusion and have fallen prey to diversionary, self-defeating, complex, elaborate ‘whizz-kid’, knee-jerk ‘solutions’ in a desperate bid to ‘resolve’ the colossal problem created by the corrupted money center banks themselves, which were indulging, until mid-September 2008, in unproductive, illicit, off-balance sheet speculative activity on a scale with no historical precedent.

That suggests that if it had not been for such wasteful,unproductive, untaxed, off-balance sheet speculation, many of the banks in question would be surplus to requirements.

According to Story’s First Law, ‘all organisations are run for the benefit of those who are running the organisation’. This, of course, explains why, deprived of the toys that they were playing with, the banks went on strike and have been hoarding and stealing funds ever since – precisely with a view to restarting the speculative, win-win Ponzi Fraudulent Finance that they were wallowing in prior to mid-September 2008, instead of focusing primarily on lubricating the real economy.

BANKS SUPERFLUOUS TO REQUIREMENTS
The smarter solution would have been to allow more than just Lehman Brothers to go to the wall. Wall Street, where the wall is, is supposed to believe in free markets, with no participant being subsidised at the expense of other participants. The new, decadent, twist is that all the relevant participants can have their corporate snouts in the trough, and to hell with the hyperinflationary consequences. The Wall Street institutions and the satellite hedge funds and other intermediaries, along with the banks, are all being subsidized AT THE EXPENSE OF THE REAL ECONOMY.

• It’s called a banker’s ramp.

IT’S NOT ‘THE ECONOMY, STUPID’: ITS ‘THE DERIVATIVES, STUPID’
And to cover all this up, the United States is now governed by a man who takes his cue from Fidel Castro and President Chavez. He thinks his gift of the gab can be relied upon somehow to save him from the devastating and very rapidly approaching adverse consequences of his perverse, wrong-headed decisions, which are holding up the recovery of the Rest of the World.

And he is using this gift of the gab to LIE to the American people that this is all about reviving the real economy, when it isn’t. It’s all about reviving the fraudulent derivatives sector carousel.

AND NOTHING ELSE.

• CMKM UPDATE:
The previously reported theft of the $12.8 billion was orchestrated to achieve three objectives at the same time:

• To dissolve the multi-billion dollar claims and Court Order related to CMKM et al, and to make it clear that the CMKM Attorney(s) have signed the appropriate documentation to secure the funds held at the Depositary Trust Clearing Corporation under Court Order, and STEAL THE MONEY.

• To satisfy the ‘Payee’ et al, by authorising and signing a Presidential Executive Order (15th January 2009) – thereby circumventing public disclosure (and possible physical threat when George W. Bush was no longer President of the United States) and STEAL THE MONEY.

• To STEAL the $12.8 billion via Presidential Order/Court Claim – and funds sitting under the control of the DTCC – with the intent to send the money to Carlyle et al., without any repercussions – via Bank of America, Tyler, Texas, and then to Canada.

• LORD MYNERS UPDATE:
Some time ago we reported that Lord Myners, the City (of London) Minister in the Gordon Brown Government, had publicly suggested that City bankers engaged in Fraudulent Finance should be prosecuted. We then received a prompt message to the effect that ‘they’ would be grateful if we did not ‘go on about this’. There was no explanation, as usual.

It has since emerged that Lord Myners, who was selected to head up the British Government’s investigation into tax havens, chaired a hedge fund group operating through Jersey, Channel Islands. Jersey is used by fund managers to keep profits offshore so as to avoid British tax.

Before becoming a Government Minister, Lord Myners was appointed to head a company that took over Liberty Ermitage Jersey, controlling investments worth about $2.0 billion. Myners made his fortune with Gartmore, a prominent City fund management outfit, the Jersey, C.I., offshoot of which handled millions of pounds for more than 4,100 overseas investors.

Lord Myners was also involved with Aspen Re, a reinsurance firm located in Bermuda, thereby saving large sums in tax annually. A UK Treasury spokesman said on 23rd March:

‘All of his past business roles are a matter of public record and he has made a full declaration of the interests. The experience he brings continues to be hugely valuable to the Government at a time when we are working to restore and rebuild the banking sector’.

In other words, the British Government is relying, in part, on the toxic experience of a hedge fund manager, familiar with the Fraudulent Finance sector of course, to advise them on how to REBUILD the banking sector which has been devastated by its indulgence in Fraudulent Finance.

Maybe when he called for British bankers who have been engaged in Fraudulent Finance to be prosecuted, he was going too far for the likes of certain interests. It is normally the case that these people reinvent themselves as ‘whiter than white’ (‘Blankfeinism’), but it would appear that Lord Myners’ linen might not necessarily emerge gleaming white from the wash.

APPENDIX ONE:
Observations from The New York Times on the latest instalment of ‘Geithnerism’ [25th March 2009]:

• Can banks that received Government bailouts use taxpayer money to bid on toxic assets, in the hope of making a profit? [Correct answer: NO – Ed.].

• Can banks sell some assets and then use the proceeds, leveraged by generous Government financing, to buy more of the same? [Correct answer: NO – Ed.].

• Might investment houses be tempted to overpay, if doing this buoys up the value of their own investments? [TARP provides for an Oversight Review Committee with clawback powers to compel restitution if too much is paid. This explains why Goldman Sachs is rushing to pay back the billions it received from the Government so that it is not bound by the TARP restrictions. No-one is asking about ‘source of funds’: whence the Goldman billions for repaying the Government? – Ed.].

• In the end, it will be the taxpayer who will be largely footing the bill.
[Not ‘in the end’: straight away – Ed.].

• Joseph E. Stiglitz, a Nobel Prize-winning economist, in an interview with Reuters, called the program “very badly flawed” and said it offered “perverse incentives” that amounted to “robbery of the American people”. [Couldn’t have said it better ourselves – Ed.].

• Bert Ely, a prominent banking consultant, said investors would be cautious because many crucial details were still missing – the size and terms of loans they would receive from the Federal Deposit Insurance Corporation, for example, and the amount of equity they would be allowed to put in, and whether banks would be allowed to walk away if they did not like the price at auction. “Today we know a lot more than we did yesterday, right?” Mr Ely said. “I’m being facetious!”.

• Many questioned the auction mechanism to sell toxic assets off from banks’ balance sheets. Price, most experts agree, is the biggest sticking point. The banks want to sell high. Potential investors want to buy low. [There is STILL no indication of how the fake ‘assets’ that are to be bought initially, will be priced – Ed.].

• Banking executives said that that their institutions would not want to unload ‘assets’ at fire-sale prices, a step that would compel many of the banks to raise sizeable amounts of additional capital. [Even though ‘fire-sale’ prices would be much too expensive given that the assets are fraudulent to begin with and therefore worth $0. $0 + $0 = $0, usually – Ed.].

• Under the accounting rules, banks must carry securities on their books at market prices. Most financial firms have already marked down these ‘assets’ to prices that might be low enough to lure buyers. But banks need not carry ordinary loans at market value. Instead, they are allowed to hold them at their higher values until they are repaid. So, for many commercial banks, selling loans now, at distressed prices would almost certainly lead to large losses. Such losses might raise questions about how some banks will fare in a so-called stress test that Federal regulators are in the process of applying to about 20 lenders.

“I don’t see how they are going to get the banks to sell”, said an executive at a large bank.
There are going to be substantial write-downs taken to get them off the books”.
[In other words, ‘Geithnerism’ CHANGES NOTHING. It doesn’t ‘amend reality’].

INTENTION HAD BEEN TO GET STARTED WITH CHINESE MONEY
After the Chinese parties had made the grave mistake of caving in to cynical pressure from the US authorities to participate in the latest instalment of ‘Geithnerism’, the Chinese would presumably have indicated their willingness for some of their funds to be used to purchase ‘toxic’ assets. The banks would have said: ‘But at what price?’ The Chinese would have responded: ‘Well if you don’t know the start-up buying price, we want our money back’. At which point the banks said: NO WAY.

APPENDIX TWO [excerpted from the report dated 24th March 2009]:
FACE-TO-FACE EXCHANGE BETWEEN PRESIDENT OBAMA AND THE QUEEN

Her Majesty: Good morning, Mr President, how very nice to meet you.

President Obama: It’s a pleasure to be here, Your Majesty.

HMQ: Mr President, I was concerned to hear about a small matter of $52 billion of my guarantees that apparently went missing recently.

PO: I understand that these were restored, M’am.

HMQ: Yes, but why were the guarantees diverted or stolen in the first place? Were any of my guarantees used for purposes for which they were not intended?

PO: I don’t know M’am. I imagine not.

HMQ: Mr President, you are aware, are you not, that after my LOAN funds within a total amount of $6.2 trillion languished within your banking system within the Treasury Custodial Account network at several money center banks for 19 months, to no avail, I was compelled, on 29th January 2009, to order the withdrawal of these funds, which were made available via the Bank of England on 19th-20th June 2007 to finance the Group of Seven-Approved Dollar System Refunding Programme by means of transparent private market trading transactions?

PO: I am, M’am.

HMQ: Mr President, are you aware of the REASON that I had to order these funds to be withdrawn?

PO: Not entirely, Your Majesty. Please explain.

HMQ: Mr President, when you toured European countries last year, you signed documents in which, I understand, you pledged to release all the blocked or hijacked funds and to proceed, if I am not mistaken, with the G-7-Approved private sector Refunding Programme. I had been led to believe that, in the light of your undertakings, you would indeed honour your commitments.

PO: My advisers decided that I should adopt alternative strategies, I am afraid.

HMQ: But Mr President, a signed commitment is a signed commitment, you know! Furthermore, my own expert advisers inform me that the ‘alternative strategies’ that your officials have adopted are designed to revalidate and revalue fundamentally worthless false derivative ‘assets’ while at the same time accumulating vast new mountains of real debt with which generations of Americans will be burdened in the future – a state of affairs which could have been entirely avoided if you had implemented the Group of Seven-Approved Dollar System private sector Refunding Programme for which I provided the necessary funds on LOAN, and which you undertook to do last year.

PO: Unfortunately, M’am, I was advised that our banks would not be prepared to cooperate in the proposed G-7-Approved private sector Refunding Programme.

HMQ: But Mr President, you carry the privilege of being the most powerful human being on earth! You have the power to insist upon the implementation of what was agreed by the world’s leading financial powers in 2007 and 2008! In addition, I made available a very large sum of money pro bono publico on a LOAN basis to finance this project, which I told the Group of Seven powers in 2007 was necessary ‘for the sake of the whole of humanity’. Moreover the Group of Seven-Approved private sector Refunding Plan would have cost the US Treasury NOTHING, while showering it with windfall tax revenues for a long time to come! What on earth persuaded you to disregard this very simple and straightforward solution to your problems, which are OUR problems, too?

PO: Uh, I hear what you say, M’am. It looks as though the various patchwork schemes developed by Timothy Geithner are going nowhere anyway. I’ll reconsider the situation.

HMQ: Ah, but Mr President, as you know my LOAN funds were withdrawn on 29th January after it had become clear that your Administration was not about to honour its undertakings in this regard. I am advised that there is now a proposal that the G-7-Approved Refunding Programme should be run out of London. Very conveniently, there is a provision in British tax law whereby funds that are resident within the British jurisdiction for 24 hours, are taxable.

My Government finds it most attractive that windfall tax accruals should arise from such ongoing, transparent on-the-books trading activity. Of course, since the Refunding Programme will remain an American private sector operation, your Treasury will likewise receive immense ongoing accruals from tax. So, by running the transparent private sector Refunding Programme from London, we will be able to help you, after all. Don’t you think the daffodils in my garden are gorgeous this year?

PO (looking out of the Palace window at the magnificent display of British daffodils): Yes, Your Majesty, they are gorgeous. Don’t you think so, Michelle?

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

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DUPLICITY CATCHES UP WITH CRIMINAL INSTITUTIONS

‘SNIPPED’ PORTION OF 26TH MARCH REPORT PROVES WE ARE CORRECT

Monday 30 March 2009 00:00

• THE NSA’S ‘SNIPPING’ OF OUR POINTED REPORT DATED 26TH MARCH PROVES THAT THE ‘SNIPPED’ TEXT WAS ACCURATE AND SO MUCH TO THE POINT THAT THEY HAPPILY RISKED CONFIRMING ITS ACCURACY BY ‘SNIPPING’ IT. IF IT HAD BEEN INACCURATE, THEY WOULD HAVE LEFT IT UNTOUCHED SINCE IT WOULD HAVE BEEN CONTRIBUTING TO THE FOG OF CONFUSION THEY CULTIVATE. THESE FOOLS ARE IN URGENT NEED OF BRAIN SURGERY.

• UK NEWSPAPER BARRED BY COURTS FROM PUBLISHING INCRIMINATING BARCLAYS DATA

• OFFSHORE SUBSIDIARIES OF U.S. FRAUDULENT FINANCE SPECIALISTS

• ‘TAX HAVENS ARE SUNNY PLACES FOR SHADY PEOPLE’ SAYS LORDS SPOKESMAN

• QUITE A BACKGOUND FOR THE G-20 MEETING, HUH?

• DIVERSE G-20 PARTICIPANTS WITH COMPETING AGENDAS AND OPERATIONS

• THE WHITE HOUSE MEETING BETWEEN OBAMA AND THE BANKERS ON 27TH MARCH

• PERVERSE WHITE HOUSE APPOINTMENTS OF CRIMINALIST ASSOCIATES CONTINUE

• GORE CONNECTION WITH LOMBARD ODIER DARIER HENTSCH

• SOROS SAYS G-20 FAILURE WILL TRIGGER ‘A DEPRESSION’

• CONTROLLED ‘MAINSTREAM’ PRESS COVERAGE AVOIDS THE MAIN ISSUE

• POSTSCRIPT: THE ‘STATE WITHIN THE STATE’ IS ANGRY:

• MADOFF ‘VICTIMS’ LIST: Two reports were posted on 6th February 2009 containing the entire list of customers of Bernard L. Madoff Securities, Inc.. Because the list is so huge, we divided it into two segments: Clients A-N; and clients O-Z, plus a Miscellaneous Section. See: Archive. Our list is the easiest to load and clearest of the lists that have been reproduced privately on the Internet.

• We have just published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also just published are issues of our titles Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs. For further details, please check the second white panel on the Home Page.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website.

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By Christopher Story FRSA, Editor and Publisher, International Currency Review and associated intelligence publications and information services. See this site for details and ordering facility.

• CORRESPONDENCE TO THE EDITOR: We routinely, automatically DELETE all emails which OMIT any element of the requested coordinates. We are not prepared to deal with anonymous spooks and other cowards who are too scared to provide their coordinates, for identification.

• The CONTACT US facility is found in the red box throughout this combined website.

THE FOLLOWING TEXT WAS CRIMINALLY ‘SNIPPED’ BY THE NSA NERDS FROM OUR REPORT DATED 26TH MARCH 2009. THEREFORE, WHAT IS INDICATED BELOW IS CLEARLY CORRECT.

Given the importance of all this text, we reappend the entire portion that was snipped, and have also restored the ‘snipped’ text on the original report dated 26th March. If it is illegally ‘snipped’ again, we will retore it again. Interfering with a ‘foreign’ website is illegal.

This latest aberration shows with CRYSTAL CLARITY that what we are saying is ACCURATE: witness the fact, which is alluded to below the restored ‘snipped’ text, that current pre-G-20 coverage in the ‘mainstream’ media in both London and New York is discussing every nuance under the solar system with the single exception of the ONLY ISSUE THAT MATTERS: namely, the perverse intention to restore the Fraudulent Finance Ponzi fraudulent trading operations so that the greedy US ‘State within the State’ Intelligence Power that controls the Federal Government can continue its secret offshore financing operations so as to retain its power contrary to the interests of the American people and the Rest of the World.

• The text ‘snipped’ from the 26th March 2009 report is given immediately below. When our text is ‘snipped’, we have IMMEDIATE confirmation that it’s accurate (which we don’t need to be told, or we wouldn’t have posted it in the first place). If the text had been inaccurate, the CIA/NSA would be delighted because we would be contributing to the fog of confusion that they sponsor in order to be able to continue with their corrupt and fraudulent activities unexposed. So these people are in serious need of brain surgery: when they ‘snip’, they reconfirm the accuracy of what they ‘snipped’.

• We were advised of the criminal ‘snipping’ by phone and a number of emails. Sample comment from one US correspondent advising us of the ‘snipping’:

‘As always, we in the United States appreciate and rely on your reports, for we can get nothing from our brainwashed and controlled media’.

‘All intelligent persons in the United States are outraged at the actions of this criminal clique of hardened criminals who have taken over our democracy. This is NOT what we voted for in November of last year’. Email received from a US address: 29th March 2009: 14:01:05.

• GAME, SET AND MATCH. WE REST OUR CASE:

THE MAD INTENTION: TO MAKE THE ENTIRE DERIVATIVES SECTOR WHOLE AGAIN
With the Lombard Odier-wrapped illicit derivatives trading programme in full swing and being showered with what ‘new money’ the crooks have been able to generate and steal, the criminal official intention is to rebuild the broken derivatives sector, with the assistance of ‘bought and paid for’ corrupt hedge fund operators and money managers (not all of whom are professional sheisters obviously), and to keep the carousel going and building, fed with new money filched from gullible investors, whether borrowed on permissive terms from the Federal Reserve or not, with a view to making the entire derivatives mountain of around $700 trillion (excluding double-counting) ‘whole’ – notwithstanding the reality that hardly any of these derivatives ‘Structured Products’ contain ANY real value at all, since almost all of them are NON-RECOURSE.

This is all explained in the latest issue of International Currency Review, and also in Economic Intelligence Review [see second white panel], as well as in the four-page leaflet containing the three main charts which is being distributed in Washington, DC, and elsewhere.

All that our latest subscriber printed materials do is to point out the stark reality of the fact that these false constructs (derivatives) are by definition totally fraudulent and devoid of value, so that retrospective attempts sponsored by the demented US Government to pass off that they contain value represents a massive, unprecedented fraud on the US taxpayer and future generations of Americans, while at the same time:

• Guaranteeing the accumulation of new mountains of debt arising from the Federal Reserve’s outrageous lending for speculative purposes; and:

• Guaranteeing a hyperinflation. Pundits are now suggesting that this phenomenon will emerge in several years’ time. The Editor’s view is that the choices made by the new bunch of fantasists in charge in Washington are so extreme, So damaging, so wrong-headed and so destabilising, that the hyperinflationary pressures will become apparent much sooner than that – WITHOUT delivering any ‘beneficial’ impact to the ‘real’ economy in the interim.

IS THIS BEING DONE ON PURPOSE?
The decisions made since Obama took office are SO perverse that one is tempted to join those who insist that this is all being done on purpose. The correct answer to such empty speculation is that we don’t know whether this is the case or not.

On the basis of the Christian knowledge that the devil is the author of all lies and confusion, the Editor’s view is that these operatives are wallowing in devilish confusion and have fallen prey to diversionary, self-defeating, complex, elaborate ‘whizz-kid’, knee-jerk ‘solutions’ in a desperate bid to ‘resolve’ the colossal problem created by the corrupted money center banks themselves, which were indulging, until mid-September 2008, in unproductive, illicit, off-balance sheet speculative activity on a scale with no historical precedent.

That suggests that if it had not been for such wasteful,unproductive, untaxed, off-balance sheet speculation, many of the banks in question would be surplus to requirements.

According to Story’s First Law, ‘all organisations are run for the benefit of those who are running the organisation’. This, of course, explains why, deprived of the toys that they were playing with, the banks went on strike and have been hoarding and stealing funds ever since – precisely with a view to restarting the speculative, win-win Ponzi Fraudulent Finance that they were wallowing in prior to mid-September 2008, instead of focusing primarily on lubricating the real economy.

BANKS SUPERFLUOUS TO REQUIREMENTS
The smarter solution would have been to allow more than just Lehman Brothers to go to the wall. Wall Street, where the wall is, is supposed to believe in free markets, with no participant being subsidised at the expense of other participants. The new, decadent, twist is that all the relevant participants can have their corporate snouts in the trough, and to hell with the hyperinflationary consequences. The Wall Street institutions and the satellite hedge funds and other intermediaries, along with the banks, are all being subsidized AT THE EXPENSE OF THE REAL ECONOMY.

• It’s called a banker’s ramp.

IT’S NOT ‘THE ECONOMY, STUPID’: ITS ‘THE DERIVATIVES, STUPID’
And to cover all this up, the United States is now governed by a man who takes his cue from Fidel Castro and President Chavez. He thinks his gift of the gab can be relied upon somehow to save him from the devastating and very rapidly approaching adverse consequences of his perverse, wrong-headed decisions, which are holding up the recovery of the Rest of the World.

And he is using this gift of the gab to LIE to the American people that this is all about reviving the real economy, when it isn’t. It’s all about reviving the fraudulent derivatives sector carousel.

AND NOTHING ELSE.

• CMKM UPDATE:
The previously reported theft of the $12.8 billion was orchestrated to achieve three objectives at the same time:

• To dissolve the multi-billion dollar claims and Court Order related to CMKM et al, and to make it clear that the CMKM Attorney(s) have signed the appropriate documentation to secure the funds held at the Depositary Trust Clearing Corporation under Court Order, and STEAL THE MONEY.

• To satisfy the ‘Payee’ et al, by authorising and signing a Presidential Executive Order (15th January 2009) – thereby circumventing public disclosure (and possible physical threat when George W. Bush was no longer President of the United States) and STEAL THE MONEY.

• To STEAL the $12.8 billion via Presidential Order/Court Claim – and funds sitting under the control of the DTCC – with the intent to send the money to Carlyle et al., without any repercussions – via Bank of America, Tyler, Texas, and then to Canada.

• LORD MYNERS UPDATE:
Some time ago we reported that Lord Myners, the City (of London) Minister in the Gordon Brown Government, had publicly suggested that City bankers engaged in Fraudulent Finance should be prosecuted. We then received a prompt message to the effect that ‘they’ would be grateful if we did not ‘go on about this’. There was no explanation, as usual.

It has since emerged that Lord Myners, who was selected to head up the British Government’s investigation into tax havens, chaired a hedge fund group operating through Jersey, Channel Islands. Jersey is used by fund managers to keep profits offshore so as to avoid British tax.

Before becoming a Government Minister, Lord Myners was appointed to head a company that took over Liberty Ermitage Jersey, controlling investments worth about $2.0 billion. Myners made his fortune with Gartmore, a prominent City fund management outfit, the Jersey, C.I., offshoot of which handled millions of pounds for more than 4,100 overseas investors.

Lord Myners was also involved with Aspen Re, a reinsurance firm located in Bermuda, thereby saving large sums in tax annually. A UK Treasury spokesman said on 23rd March:

‘All of his past business roles are a matter of public record and he has made a full declaration of the interests. The experience he brings continues to be hugely valuable to the Government at a time when we are working to restore and rebuild the banking sector’.

In other words, the British Government is relying, in part, on the toxic experience of a hedge fund manager, familiar with the Fraudulent Finance sector of course, to advise them on how to REBUILD the banking sector which has been devastated by its indulgence in Fraudulent Finance.

Maybe when he called for British bankers who have been engaged in Fraudulent Finance to be prosecuted, he was going too far for the likes of certain interests. It is normally the case that these people reinvent themselves as ‘whiter than white’ (‘Blankfeinism’), but it would appear that Lord Myners’ linen might not necessarily emerge gleaming white from the wash.

APPENDIX ONE:
Observations from The New York Times on the latest instalment of ‘Geithnerism’ [25th March 2009]:

• Can banks that received Government bailouts use taxpayer money to bid on toxic assets, in the hope of making a profit? [Correct answer: NO – Ed.].

• Can banks sell some assets and then use the proceeds, leveraged by generous Government financing, to buy more of the same? [Correct answer: NO – Ed.].

• Might investment houses be tempted to overpay, if doing this buoys up the value of their own investments? [TARP provides for an Oversight Review Committee with clawback powers to compel restitution if too much is paid. This explains why Goldman Sachs is rushing to pay back the billions it received from the Government so that it is not bound by the TARP restrictions. No-one is asking about ‘source of funds’: whence the Goldman billions for repaying the Government? – Ed.].

• In the end, it will be the taxpayer who will be largely footing the bill.
[Not ‘in the end’: straight away – Ed.].

• Joseph E. Stiglitz, a Nobel Prize-winning economist, in an interview with Reuters, called the program “very badly flawed” and said it offered “perverse incentives” that amounted to “robbery of the American people”. [Couldn’t have said it better ourselves – Ed.].

• Bert Ely, a prominent banking consultant, said investors would be cautious because many crucial details were still missing – the size and terms of loans they would receive from the Federal Deposit Insurance Corporation, for example, and the amount of equity they would be allowed to put in, and whether banks would be allowed to walk away if they did not like the price at auction. “Today we know a lot more than we did yesterday, right?” Mr Ely said. “I’m being facetious!”.

• Many questioned the auction mechanism to sell toxic assets off from banks’ balance sheets. Price, most experts agree, is the biggest sticking point. The banks want to sell high. Potential investors want to buy low. [There is STILL no indication of how the fake ‘assets’ that are to be bought initially, will be priced – Ed.].

• Banking executives said that that their institutions would not want to unload ‘assets’ at fire-sale prices, a step that would compel many of the banks to raise sizeable amounts of additional capital. [Even though ‘fire-sale’ prices would be much too expensive given that the assets are fraudulent to begin with and therefore worth $0. $0 + $0 = $0, usually – Ed.].

• Under the accounting rules, banks must carry securities on their books at market prices. Most financial firms have already marked down these ‘assets’ to prices that might be low enough to lure buyers. But banks need not carry ordinary loans at market value. Instead, they are allowed to hold them at their higher values until they are repaid. So, for many commercial banks, selling loans now, at distressed prices would almost certainly lead to large losses. Such losses might raise questions about how some banks will fare in a so-called stress test that Federal regulators are in the process of applying to about 20 lenders.

“I don’t see how they are going to get the banks to sell”, said an executive at a large bank.
There are going to be substantial write-downs taken to get them off the books”.
[In other words, ‘Geithnerism’ CHANGES NOTHING. It doesn’t ‘amend reality’].

INTENTION HAD BEEN TO GET STARTED WITH CHINESE MONEY
After the Chinese parties had made the grave mistake of caving in to cynical pressure from the US authorities to participate in the latest instalment of ‘Geithnerism’, the Chinese would presumably have indicated their willingness for some of their funds to be used to purchase ‘toxic’ assets. The banks would have said: ‘But at what price?’ The Chinese would have responded: ‘Well if you don’t know the start-up buying price, we want our money back’. At which point the banks said: NO WAY.

APPENDIX TWO [excerpted from the report dated 24th March 2009]:
FACE-TO-FACE EXCHANGE BETWEEN PRESIDENT OBAMA AND THE QUEEN

Her Majesty: Good morning, Mr President, how very nice to meet you.

President Obama: It’s a pleasure to be here, Your Majesty.

HMQ: Mr President, I was concerned to hear about a small matter of $52 billion of my guarantees that apparently went missing recently.

PO: I understand that these were restored, M’am.

HMQ: Yes, but why were the guarantees diverted or stolen in the first place? Were any of my guarantees used for purposes for which they were not intended?

PO: I don’t know M’am. I imagine not.

HMQ: Mr President, you are aware, are you not, that after my LOAN funds within a total amount of $6.2 trillion languished within your banking system within the Treasury Custodial Account network at several money center banks for 19 months, to no avail, I was compelled, on 29th January 2009, to order the withdrawal of these funds, which were made available via the Bank of England on 19th-20th June 2007 to finance the Group of Seven-Approved Dollar System Refunding Programme by means of transparent private market trading transactions?

PO: I am, M’am.

HMQ: Mr President, are you aware of the REASON that I had to order these funds to be withdrawn?

PO: Not entirely, Your Majesty. Please explain.

HMQ: Mr President, when you toured European countries last year, you signed documents in which, I understand, you pledged to release all the blocked or hijacked funds and to proceed, if I am not mistaken, with the G-7-Approved private sector Refunding Programme. I had been led to believe that, in the light of your undertakings, you would indeed honour your commitments.

PO: My advisers decided that I should adopt alternative strategies, I am afraid.

HMQ: But Mr President, a signed commitment is a signed commitment, you know! Furthermore, my own expert advisers inform me that the ‘alternative strategies’ that your officials have adopted are designed to revalidate and revalue fundamentally worthless false derivative ‘assets’ while at the same time accumulating vast new mountains of real debt with which generations of Americans will be burdened in the future – a state of affairs which could have been entirely avoided if you had implemented the Group of Seven-Approved Dollar System private sector Refunding Programme for which I provided the necessary funds on LOAN, and which you undertook to do last year.

PO: Unfortunately, M’am, I was advised that our banks would not be prepared to cooperate in the proposed G-7-Approved private sector Refunding Programme.

HMQ: But Mr President, you carry the privilege of being the most powerful human being on earth! You have the power to insist upon the implementation of what was agreed by the world’s leading financial powers in 2007 and 2008! In addition, I made available a very large sum of money pro bono publico on a LOAN basis to finance this project, which I told the Group of Seven powers in 2007 was necessary ‘for the sake of the whole of humanity’. Moreover the Group of Seven-Approved private sector Refunding Plan would have cost the US Treasury NOTHING, while showering it with windfall tax revenues for a long time to come! What on earth persuaded you to disregard this very simple and straightforward solution to your problems, which are OUR problems, too?

PO: Uh, I hear what you say, M’am. It looks as though the various patchwork schemes developed by Timothy Geithner are going nowhere anyway. I’ll reconsider the situation.

HMQ: Ah, but Mr President, as you know my LOAN funds were withdrawn on 29th January after it had become clear that your Administration was not about to honour its undertakings in this regard. I am advised that there is now a proposal that the G-7-Approved Refunding Programme should be run out of London. Very conveniently, there is a provision in British tax law whereby funds that are resident within the British jurisdiction for 24 hours, are taxable.

My Government finds it most attractive that windfall tax accruals should arise from such ongoing, transparent on-the-books trading activity. Of course, since the Refunding Programme will remain an American private sector operation, your Treasury will likewise receive immense ongoing accruals from tax. So, by running the transparent private sector Refunding Programme from London, we will be able to help you, after all. Don’t you think the daffodils in my garden are gorgeous this year?

PO (looking out of the Palace window at the magnificent display of British daffodils): Yes, Your Majesty, they are gorgeous. Don’t you think so, Michelle?

• ALSO snipped was the standard legal data that we have been publishing for the past 48 months and more, which gets up their craw, too. The standard text of the Legal Notes is found below.

• THE NEW REPORT THAT WE WERE PREPARING BEFORE OUR 26TH MARCH REPORT WAS ‘SNIPPED’ STARTS HERE AND IF THEY INTERFERE AGAIN WE WILL RESTORE THIS TEXT TOO:

UK NEWSPAPER BARRED BY COURTS FROM PUBLISHING INCRIMINATING BARCLAYS DATA
On 20th March 2009, The Guardian plastered its front page with a report in which it revealed some outline details about the scandal involving Barclays Bank’s secret routine use of tax havens, when of course the ordinary taxpayer is precluded from doing so without disclosing such usage to the UK tax authorities. In its lead report, The Guardian stated that Barclays’ schemes:

‘… are similar to those detailed in documents published by The Guardian this week which have been the centre of a three-day hearing at the High Court, and are the subject of a gagging order’.

The British newspaper’s report continued:

‘The internal Barclays memos were leaked by a mole to the Liberal Democrats. The new allegations reiterate claims that the bank’s main purpose in entering into these schemes was to make profits from tax avoidance through an intricate circuit of offshore Cayman Islands and Luxembourg-based companies. The profits are said to be enormous and the deals so complex that HM Revenue and Customs (HMRC) struggles to unravel them’.

‘Barclays has vigorously denied the claims and earlier this week won an emergency injunction forcing The Guardian to remove internal bank documents from its website. A Judge confirmed the ban, saying the documents contained confidential commercial information and legal advice’.

‘The Guardian is also banned from giving information about other publicly accessible sources of copies of the documents’.

• FACT: Barclays Bank, one of the most egregious Fraudulent Finance institutions in Britain, is said to be in negotiation with the UK Treasury to secure insurance money which will burden all British taxpayers for years to come, from the Government, to protect it against huge losses arising from its own Fraudulent Finance operations. The Guardian pointed out that ‘pressure has been mounting on banks to unwind tax avoidance schemes when they are taking money from the public’.

‘Royal Bank of Scotland, in which UK taxpayers own 70% of the shares, has since disbanded its department responsible for creating tax avoidance schemes’.

‘Sources with detailed knowledge of the Structured Capital Markets division of Barclays told The Guardian yesterday that its main purpose was to make profits from tax trades’.

‘Every single thing SCM does is a tax trade’, said one. ‘The deals start with tax and then commercial purpose is added to them’. The newspaper’s report elaborated:

‘The sources painted a picture of a brutally competitive environment at SCM, source of a major part of Barclays’ past profits. One describes high-rolling poker games, abrupt sackings and the use of a ‘motivation game’ in which an executive was strapped into a mock electric chair’.

• In other words, exactly the kind of behaviour that you would expect from a fully-paid-up ‘Black’ institution serving the interests of the Forces of Outer Darkness.

OFFSHORE SUBSIDIARIES OF U.S. FRAUDULENT FINANCE SPECIALISTS
Before reporting the sequel to The Guardian’s revelations below, the following open information listing the offshore entities of well-known US Fraudulent Finance institutions is pertinent here:

• A,I.G.: Last time we checked: 728 subsidiaries in offshore centres.

• Bank of America: 59 subsidiaries in the Cayman Islands.

• Citigroup: 427 subsidiaries: 21 in Jersey, 91 in Luxembourg, 19 in Bermuda, 158 in the Caymans.

• Countrywide Financial: Two subsidiaries in Guernsey.

• Goldman Sachs Group: Three subsidiaries in Bermuda, Five in Mauritius, 15 in the Caymans.

• Lehman Brothers: 31 subsidiaries in the Cayman Islands.

• News Corporation (Rupert Murdoch): 33 subsidiaries in the Cayman Islands. Others known.

• Wachovia: 18 Subsidiaries in Bermuda, three in the British Virgin Islands, 16 in the Caymans.

‘TAX HAVENS ARE SUNNY PLACES FOR SHADY PEOPLE’ SAYS LORDS SPOKESMAN
On Thursday 26th March, the Liberal Democrats’ Treasury spokesman, Lord Oakshott, delivered a broadside against the Prime Minister, Gordon Brown, and the secretive activities of Barclays Bank Plc – thus highlighting, for global public consumption, the DOUBLE STANDARDS that bedevil the panicking official classes as the unravelling of the Fraudulent Finance giga-scandal threatens to swamp the overhyped Group of Twenty meeting in London on 2nd April, when the leaders of 20 powers with competing agendas and bitter rivalries and resentments over US official corruption, are supposed to be producing a formula for stabilisation in the course of meetings lasting precisely four and a half hours. There is no way this meeting can deliver without the release of the hijacked Settlements and termination of the banditry by US banks and authorities partly reported here.

Nor can any global recovery take place without the G-7-Approved private sector Dollar Refunding Programme yielding REVENUE as opposed to the convoluted, scatterbrained ‘solutions’ devised by the Geithner Treasury to rekindle the dead derivatives sector which was dealt a motal blow by the events of 10th-12th September 2008, as also reported by this website and in our services.

Lord Oakshott used parliamentary privilege to say what newspapers have been banned from saying by a Court injunction won by Barclays.

The media is, however, allowed to report his speech, which this and other services are now doing.

In the 26th March debate in the House of Lords on tax evasion, Lord Oakeshott said:

‘Tax havens are sunny places for shady people’.

‘No one sends their money to Monaco or the Cayman Islands because they are centres of excellence for fund management’.

‘From Antigua to Belize, you use a tax haven because you have something to hide, be it from the taxman, the authorities where you live or even your family’.

‘ “Low tax and low disclosure” is the polite way in which the apologists for tax havens put it, but if you are Mobutu or Mugabe, Mrs Imelda Marcos or a Colombian with a big briefcase, a brass-plate
company in an anonymous office block means that your millions leave no trace and tell no tales’.

‘Gordon Brown is strutting the world’s stage as Mr Clean-up, the man to make tax havens and tax dodgers quake in their boots’.

‘OH YEAH? – Why then did the [British] Treasury say only yesterday that the asset protection scheme for banks to dump their bad debts on the taxpayer and the code of practice covering tax avoidance for the banking sector due next month, are “separate issues”?’

‘That is the most unjoined-up government imaginable’.

‘Why has the budget of HM Revenue and Customs’ hard-pressed tax avoidance team, led by
Mr Tailby, been cut by five per cent from 6th April?’

‘Barclays will be laughing all the way to the Cayman Islands. Our taxmen are like fat policemen running after a speeding Ferrari; they need all the help that they can get’.

‘We all rejoice at the sinner who repenteth, but this is the same Gordon Brown who as Chancellor cuddled up to the bankers so hard that it hurt and who showed no interest in taxing or regulating hedge funds registered in the Cayman Islands and run by non-doms in Mayfair, or the private equity millionaires with their absurdly generous special tax breaks. . .’ .

‘Why will the Prime Minister and the Treasury not use their power over the banks to stamp out tax abuse right under their nose in London?’

‘You do not have to take a Caribbean cruise; all you have to do is get on a boat down the Thames to Canary Wharf. . .’.

‘Nearly-nationalised Royal Bank of Scotland (RBS) claims to have closed down its tax avoidance
operations at Head Office but still actively promotes its operations in offshore tax havens and via its private bank in Switzerland’.

‘Barclays has developed tax avoidance into a massive profit centre in its own right, with vast sums of the bank’s money touring tax havens on what in one case amounts almost to a three-day super saver return ticket from Canary Wharf, saving Barclays, not the taxpayer, mountains of tax’.

‘Documents leaked to the Liberal Democrats, which appear to detail systematic tax avoidance on a grand scale by Barclays, were injuncted last week’.

‘The Sunday Times and The Guardian had already made them front-page news and these documents are widely available on the internet from sites such as Twitter, wikileaks.org, docstoc.com and gabbr.com.

‘The Guardian had to remove them from its website and cannot tell its readers where to find them’.

‘These documents describe deals worth billions of pounds set up by Barclays Bank in order to make money out of depriving the UK and foreign exchequers of revenue’.

‘Barclays would not last for one minute without the British taxpayer standing behind it, yet it is holding out one hand for taxpayers’ money while it picks taxpayers’ pockets with tax avoidance activities on the other’.

‘Unlike Barclays, HM Revenue and Customs cannot match the best tax and legal brains that money can buy and unpick these deals’.

‘It is a sad day for democracy if a Judge sitting in secret can stifle this essential public debate’.

‘Louis Blom-Cooper and three distinguished colleagues wrote to The Guardian:

“Barclays may properly be regarded as an operator in the private sector, but its corporate status, carrying with it all the advantages that incorporation confers on the institution, and performing a function so vital to the country’s economy, was such that Mr Justice Blake should have concluded that Barclays Bank was akin to that of a public authority and susceptible to the precepts of public sector activity. Perhaps the Court of Appeal will exhibit rather more boldness in supporting the Guardian’s valuable crusade against tax avoidance”.

‘Vince Cable [the Liberal Democrats’ Treasury spokesman in the House of Commons] has done his duty and sent all these documents to HMRC and the Financial Services Authority’.

‘I believe that it is my duty today to tell, as I just have, Parliament about Barclays’ tax avoidance machine with its aggressive exploitation of tax havens and to tell the public, in their own interest, where they can get chapter and verse and judge [this matter] for themselves’.

‘Barclays has a whole department, the Structured Capital Markets division, inside Barclays Capital, dedicated to dodging the taxman, and has been reported as paying Mr Roger Jenkins, who runs it, £40 million a year’.

‘Vince Cable and I are now being told of more, even murkier, deals. About a third of a billion pounds has been added to Barclays Bank’s bottom line by the following six “projects”, from what we see:’

• ‘Barclays’ Project Knight, set up in 2007, with capital of more than $16 billion, involved making loans to American banks needing Federal funding: Wachovia, WaMu, Bank of America, BB&T.

‘This allowed Barclays to benefit from “double-dip” tax credits, as they are called, and made the bank £100 million or more’.

• ‘Project Faber, also in 2007, involved capital of £1.5 billion and made Barclays £29 million in tax profits [according to our information]’.

‘That involved using tax havens in the Isle of Man and the Caymans for subsidiaries to channel loans to Luxembourg banks’.

• ‘Project Brontos in 2007 was a scheme between Barclays and Italian banks to save Italian tax; it made Barclays £15 million in profits at a conservative estimate’.

• ‘Project Valiha, with capital of nearly £400 million, involved an elaborate trade with interest rate swaps that could be transferred to an American counterparty, alleged to be A.I.G., which gained Barclays £69 million in tax-free profits’.

• ‘Project Brazil, set up in 2005-06, made Barclays £30 million in tax profits from currency trades.

• ‘Project Berry: a Barclays subsidiary buys index-linked gilts and lends them back to Barclays so that it can collect tax reliefs worth £134 million’.

‘How many more of those morbid mutants are on the books of Barclays’ Structured Capital Markets?
‘Before the Treasury takes on any of the toxic assets of Barclays, we must know how much tax it has avoided, how and with whom, and what has passed through or is still hidden in tax havens. . .’ .

QUITE A BACKGOUND FOR THE G-20 MEETING, HUH?
No G-20 ‘agreement’ that omits a comprehensive, permanent global ban on Fraudulent Finance will make any sense or can be expected to yield the appropriate results, although if the releases have been done by the end of the 72-hour (Swift) window expiring at the end of March, the G-20 may be able to make an announcement referencing some formula implying the availability of new liquidity.

• However even THAT is a problem because given the background of endless lies and deceit, and in the absence of consensus on CLOSING DOWN FRAUDULENT FINANCE, none of the participants will make any reference to SOURCE OF FUNDS, and nor will the G-20 press statement.

DIVERSE G-20 PARTICIPANTS WITH COMPETING AGENDAS AND OPERATIONS
Contemplating the list of highest-level participants, it boggles the mind that the confused British Government can have seriously believed that these people could possibly expect to reach any lasting, properly grounded consensus: which is why Gordon Brown stamped out a huge ‘carbon footprint’ and careered round the world to browbeat foreigners into ‘forging a consensus’ ahead of this meeting which London is rightly terrified will be a gigantic flop. When he got back, exhausted, he briefed the press in Downing Street on Saturday about the forthcoming G-20 meeting, costing £4 million an hour which, as previously noted, has been exiled: to the far-away London ExCel Centre, which is squeezing the meeting that is meant to save the whole world from a depression worse than the 1920s, between London International Dive Show and MillionaireMind Intensive UK Live.

• Principal participants at the G-20 meeting, with their hang-ups, are as follows:

• Argentina: Cristina Fernandez de Kirchner, 56: Focused on new secret trading ops. with US.

• Australia: Kevin Rudd, 51: Guardian of huge secret US installations near Alice Springs.

• Brazil: Luiz Inácio Lula da Silva, 63: Focused on new secret trading ops. with Americans.

• Canada: Stephen Harper, 49: Guardian of huge corrupt US deposits at Canadian banks.

• China: Hu Jintao, 66: Livid about US double-cross over the $13 trillion and other US scams.

• Czech Republic [EU Presidency]: Mirek Topolanek, 52: Says Obama’s policies = ‘road to hell’.

• France: Nicolas Sarkozy, 54: At loggerheads with everyone, Chancellor Merkel especially.

• Germany: Angela Merkel, 54: Guardian of Bush Sr.’s corrupt funds; at loggerheads with Sarkozy.

• India: Manmohan Singh, 76: Holds or held stashed stolen trillions from fraudulent trades.

• Indonesia: Susilo Bambang Yudhoyono, 59: Orphanages mask hidden ops. by US CIA agents.

• Italy: Silvio Berlusconi, 72: Italian ‘gentlemen’ and Pope = heirs to Mussolini’s finance ops.

• Japan: Taro Aso, 68: Scammed by George Bush Sr., taken to cleaners, thoroughly confused.

• Mexico: Felipe Calderón: 46: Drug war leverage over US, as CIA won’t quit drug-trafficking.

• Russia: Dmitri Medvedev, 43: Boom-bust trauma: serves Gorbachev’s long-range strategy.

• Saudi Arabia: Ibrahim al-Assaf, age uncertain: Kingdom’s fingers burned by Bushes and CIA ops.

• South Africa: Kgalema Motlanthe, 59: Included pending intended Benin trading platform.

• South Korea: Lee Myung Bak, 67: Bush Crime and other CIA fraudulent funds stashed in Seoul.

• Turkey: Recep Tayyip Erdogan, 55: Allows US drug operations into the former Soviet Union.

• United Kingdom: Gordon Brown, 57: Prophet of ‘stimulus’ in lieu of tackling derivatives issue.

• United States: Barack Obama, 47: It’s not the economy, stupid. It’s the derivatives, stupid.

• FACT: The CIA’s poisonous disinformation ops. (Operation Mockingbird) and anonymous spooks continue to excoriate The Queen, turning facts back to front and upside down, indicating just how nervous the ‘State within the State’ has become over the complete breakdown and uncovering of its multiple secret ‘Black’ Fraudulent Finance and Ponzi financing operations and the prospect that the Refunding Programme run from London will deliver ‘clean’, taxed funds onto the books of the big banks, so that this good money will unavoidably ‘drive out’ the BAD MONEY that these fools think they can continue to generate, so as to maintain their evil, destructive control over the US Federal Government in general and the Executive Branch in particular.

The biggest threat they face comes from the sole guardian of the Rule of Law, namely The Queen. Which also explains why various US intelligence community compartments are running operations against the British Monarchy. So much for the so-called SPECIAL RELATIONSHIP, which these US crooks are successfully destroying: because, as an Obama apparatchik pointed out to the Brown entourage, Britain isn’t ‘special’ to the United States at all. Then get out of our laundry!

THE WHITE HOUSE MEETING BETWEEN OBAMA AND THE BANKERS ON 27TH MARCH
The White House released a list of the bank CEOs who met with President Barack Obama on Friday.
‘At this meeting, the President will reiterate his belief that getting the economy back on track will require an understanding that each of us must look beyond our own short-term interests to the wider set of obligations we have to each other in order for America to succeed,’ the White House statement stated, according to Reuters, even though the meeting had already taken place.

The banking executives who attended the ‘brunch’ included:

• Jamie Dimon, JP Morgan Chase & Co
• Ken Chenault, American Express
• John Koskinen, Freddie Mac
• Ronald Logue, State Street Corp
• Robert Kelly, Bank of New York Mellon Corporation
• Rick Waddell, Northern Trust
• James Rohr, PNC Financial Services Group Inc.
• Lloyd Blankfein, Goldman Sachs Group Inc.
• John Mack, Morgan Stanley
• Vikram Pandit, Citigroup*
• John Stumpf, Wells Fargo & Co
• Cam Fine, Independent Community Bankers
• Edward Yingling, American Bankers Association (ABA)
• Richard Davis, U.S. Bancorp
• Ken Lewis, Bank of America

The actual cabal of bankers, excluding the Freddie Mac and ABA executives, was, unsurprisingly, the esoteric number THIRTEEN. Those with knowledge of the Works of Darkness will not be in any way surprised by this revelation. See the Editor’s study The New Underworld Order for details.

At this meeting, the bankers were given their marching orders. As we did not have a fly on the Oval Office wall, we will not elaborate beyond drawing your attention to the following keywords in this context: PROSECUTION, IMMUNITY, PRESIDENTIAL PROTECTION, GOING PUBLIC.

PERVERSE WHITE HOUSE APPOINTMENTS OF CRIMINALIST ASSOCIATES CONTINUE
The Washington Post reports on Sunday 29th March that President Obama announced three senior US Treasury Department nominees on Saturday. They are:

• Helen E. Garrett, to be Assistant Treasury Secretary for Tax Policy. A member of President George W. Bush’s 2005 ‘bipartisan’ tax reform advisory panel, she is a former Professor at the University of Chicago Law School. The Garrett family has been heavily involved with the Bushes.

• Michael S. Barr, who was an adviser to the Clinton Administration’s Treasury Secretary, Robert E. Rubin, latterly the guardian of the Clintons’ funds at Citibank, and who managed to preside over the removal of said funds from the institution before he left it: to be an Asistant US Secretary of the Treasury for Financial Institutions. He is a Senior Fellow at the Center for American Progress and the globalists’ Brookings Institution. Thick with RUBIN.

• George W. Madison, to be General Council at the Treasury. He was a partner at Mayer, Brown & Platt in New York, where he practised banking and finance law. The firm ‘issued a lot of paper’.

Whoever is making these decisions is STICKING THEIR NOSES UP at the American people and the Rest of the World by DELIBERATELY picking people associated with the Fraudulent Finance orgy.

GORE CONNECTION WITH LOMBARD ODIER DARIER HENTSCH
The following text, reported on Bloomberg and sourced from Reuters, Geneva, is, uh, interesting:

‘The sustainable investment firm run by Al Gore, the former US Vice-President, is about to be closed to new investors, having raised close to its $5.0 billion target’.

‘Generation Investment Management will probably restrict inflows into its main Global Equity Fund next month, Gore and David Blood, co-founder of the company, said at a news conference Tuesday (24th March). Blood said the firm could not manage more than $5.0 billion in assets…. He declined to name clients, but said they were typically institutions, with 45% to 50% coming from Europe, 25% from Australia and the rest from the United States’.

‘The private Swiss bank LOMBARD ODIER DARIER HETSCH, which started selling the fund in Europe last year, is now the biggest investor in it, said the bank’s senior partner, Thierry Lombard’.

SOROS SAYS G-20 FAILURE WILL TRIGGER ‘A DEPRESSION’
The arch-speculator and financial sorcerer George Soros appeared on the front page of The Times, London and across a double-page spread inside Murdoch’s severely degraded title, to announce that the G-20 summit meeting, which will last for four and a half hours hours, will usher in a global depression ‘if it fails’: he then added that the odds are that it will fail.

• FACT: The Bretton Woods meetings took 22 days to complete.

In a typical Sorosian outbreak of ‘Blankfeinism’, Soros pronounced:
‘You’ve got to come up with practical measures that are going to provide protection to the whole developing world, periphery countries, against a storm that originated from the center [unspoken: and in which I was a prominent participant – Ed.] against a calamity that is not of their own making’.

• Translation: We are looking to the G-20 to agree to pour vast resources of ‘new money’ into the Third World, especially Africa where Bush Jr. and Paulson have set up the newest secret trading platform in obscure Benin. We need LOTS AND LOTS OF NEW MONEY to grease the carousel that we are all intent on restarting with regard only for our own agenda and interests, as we are the élite and we dictate what is good for the world, by which we mean ourselves. We hide behind high-falutin’ ‘humanitarian labels’, like Gore with his ‘climate change’ fund. It makes people ‘feel good about themselves’ when investing in our Ponzi scamming schemes.

CONTROLLED ‘MAINSTREAM’ PRESS COVERAGE AVOIDS THE MAIN ISSUE
On both sides of the Atlantic, the controlled ‘mainstream’ press has been waffling about every peripheral and irrelevant G-20 nuance under the sun, in order to avoid addressing the ONLY ISSUE THAT MATTERS, namely that this is a CRIMINALISM CRISIS, first and foremost, and that the root cause of the global calamity is the reckless, ruthless and ongoing pursuit of Fraudulent Finance operations, protected by the US Intelligence Power: the ‘State within the State’ which finances its operations by means of these ‘Black’ criminal finance scams and cannot ‘handle’ the prospect of being unable to generate corrupt funds on the scale to which it has become accustomed.

The only thing we can say in favour of the ‘mainstream’ right now is that it would appear that certain journalists realise that things are ‘not right’ and are venting their annoyance by writing copy which not even the Editor of this service would contemplate writing in these always sober reports.

• Examples:

• From the Times, London, 28th March 2009, page 34:

‘Among the extras [at the conference] will be an Australian Prime Minister who was once caught eating his earwax on television, an Argentine President known as the Queen of Botox, and a Spanish Prime Minister who looks like Mr Bean. But each and every member of the cast will arrive with a set of narrow national or regional interests that are unlikely to serve the interests of creating a new world consensus’ [Accurate: – Ed.].

• And the ExCel Centre, lacking the majesty more usually associated with such a great international gathering of leaders, is a fitting venue for such a summit about global economic blight’ [unspoken: brought about by the wall-to-wall corruption of the globalist elite represented by the participants themselves: – Ed.].

• ‘This soulless grey bulk was built in the graveyard of what was once the world’s largest port. Its name, with irritant capital letters in the wrong place, is redolent of the foetid marketing strategies of the recently evaporated development boom…’.

• From The New York Times, 29th March, page 4 of The Week in Review:

‘Some have likened [The task facing the G-20] to rebuilding an aircraft in mid-flight, and on its success may depend the future wellbeing of much of the world’s population of 6.5 billion, not to mention the fragile political prospects of Mr Brown’.

•FACT: As previously reported, the conference was exiled to the ExCel Centre in Canning Town, ‘Docklands’, when the whole operation was subtly downgraded some time ago. The cover ‘line’ is that holding the conference in that dump rather than at the appropriately appointed and located Queen Elizabeth Conference Centre opposite Westminster Abbey and the Houses of Parliament – the only part of London that most of the visitors know – was necessary because of urgent security concerns, given that mass demonstrations are planned to coincide with the event. But the real reason is that official expectations for the outcome are close to zero, unless the releases take place, which we won’t know for a day or two.

• One other point: You may recall that the overt Communists’ modus operandi was ALWAYS to have ANOTHER conference in prospect. Official Strategy was implemented by moving seamlessly from one conference to the next, so that all concerned were occupied full-time ‘preparing for the next meeting’. That kept everyone working on the Leninist agenda.

Exactly the same procedure is at work with these successive globalist meetings. In this instance, the entire meeting can be seen to be WHOLLY UNNECESSARY. Why? Because only a few weeks later these people will be meeting again in the G-20 forum at the IMF/World Bank Spring Meetings in Washington, DC (second half of April).

Therefore, quite clearly, this G-20 spectacle event (not) is little more than a ‘do-something’ mass perception-moulding exercise in manipulating public opinion, so that popular anger does not get completely out of hand.

Not quite yet, anyway.

• POSTSCRIPT: THE ‘STATE WITHIN THE STATE’ IS ANGRY:
It is clear by its childish behaviour that the CIA/NSA/NSC is angry that its endless duplicity is being systematically exposed.

First we have renewed lies and diversionary untruths about The Queen on flaky websites posted by anonymous spooks. Then the NSA fools ‘snip’ our report dated 26th March 2009, as reported above. Now, we are informed of an attack by the Larouche CIA compartmentalised cadre which specialises, on behalf of the German dimension of the CIA ET AL., and its Deutsche Verteidigungs Dienst (DVD), Dachau, Nazi Abwehr Strategic ‘Black’ Deception Continuum bosses, in excoriating the British in order to divert the attention of the gullible from the true source of the world’s evils: THE ONGOING NAZI CONTINUUM. These people have long since discredited themselves: in the 1960s, Larouche himself was a Marxist-Leninist World Revolution agitator.

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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This should come as no real surprise since the cynical spooks even assert this ‘in-your-face’ by advertising ‘INTEL INSIDE’, which says exactly what it means. More specifically, NSA have made great strides in this direction by having a back door built into Microsoft VISTA. Certain computers, especially those labelled with the logo of the ‘fully collaborating’ firm Hewlett Packard, have hard-core setups which facilitate the remote monitoring and controlling of personal computers by NSA, Fort Meade. We now understand that if you are using VISTA* you MUST NOT enable ‘file and printer sharing’ under any circumstances. If you say ‘YES’, so to speak, to ‘file and printer sharing’, your computer becomes a slave at once to NSA’s master computers. DO NOT ENABLE SHARING.

Unfortunately, this abomination is so far advanced that this may not be the only precaution that needs to be taken. As long as Microsoft continues its extensive cooperation with NSA and the NSC (National Security Council), the spying system which assists the criminalised structures, and thus hitherto the Bush-Clinton ‘Box Gang’ and its connections, with their fraudulent finance operations, NSA may be able to steal data from your computer. The colossal scourge of data theft is associated with this state of affairs: data stolen usually include Credit Card data, which the kleptocracy regards as almost as good as real estate for hypothecation purposes. Even so, you can make life very much more problematical for these utterly odious people by NOT USING U.S.-sourced so-called Internet Security and anti-virus software. Having been attacked and abused so often, we offer a solution.

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• To access details about the INTERNET SECURITY SOLUTION, just press THE LIVE LINK YOU HAVE JUST READ, or else press SERIALS in the red panel below. This opens up our mini-catalogue of printed intelligence publications. Scroll right down to the foot of that section, where you will see details of this service. When you buy this special product, you will also, as we clearly state above, be paying a special premium by way of a donation to help us finance these exposures.

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U.S. FRAUD SCHEME LAUNCHED MONDAY IN BIG TROUBLE

QUESTION: WHAT IS THE ‘PRICE’ OF FRAUDULENT ‘ASSETS’ THAT HAVE NO VALUE?

Thursday 26 March 2009 00:01

MISPLACED WALL STREET GLEE AT FRAUD AGAINST U.S. TAXPAYERS

MID-SEPTEMBER ‘LOCKDOWN’ RECONFIRMED AS MOMENT OF TRUTH

INTERNATIONAL CURRENCY REVIEW DECONSTRUCTION OF FRAUDULENT FINANCE

MERKEL ORDERED REVENGE MURDER OF BRITISH TROOPS IN NORTHERN IRELAND

REVIVING THE CARCASS OF THE EXPIRED DERIVATIVES SECTOR

OBAMA SIGNS LOMBARD ODIER DARIER HENTSCH UP FOR ROLLING TRADING PROGRAM

PERVERSE U.S. OFFICIAL STRATEGY DOOMED TO FAILURE

BEST INDEPENDENT FINANCIAL BRAINS AREN’T BUYING IT

GOVERNMENT ARRANGED FOR THE BANKS TO STIFF THE CHINESE

BANKS USE BASEL-II AND TARP AS THEIR PRETEXT FOR ILLEGAL SEIZURE

CORRUPT GOVERNMENT AND CORRUPT BANKS WORKING TOGETHER

SO, WHAT ARE THE CHINESE GOING TO DO ABOUT THIS CRISIS?

BRITISH AND CHINESE HAVE BEEN TOO POLITE FOR TOO LONG

CONGRESS CANNOT CHANGE BASEL-II RULES! THAT’S THE POINT

BANKS ‘BLACKMAILING’ GOVERNMENT: BY PRIOR AGREEMENT

TOP OFFICERS OF THE BIG BANKS SHOULD HAVE BEEN ARRESTED

HOW THE CHINESE REACT TO THIS U.S. SCAM IS WHAT MATTERS NOW

G-20 MEETING IN LONDON WILL BE A FLOP

CRIMINALISTS DON’T CARE ABOUT PONZI VICTIM SUICIDES

THE MAD INTENTION: TO MAKE THE ENTIRE FAKE DERIVATIVES SECTOR WHOLE AGAIN

IS THIS BEING DONE ON PURPOSE?

IT’S NOT ‘THE ECONOMY, STUPID’: ITS ‘THE DERIVATIVES, STUPID’

• MADOFF ‘VICTIMS’ LIST: Two reports were posted on 6th February 2009 containing the entire list of customers of Bernard L. Madoff Securities, Inc.. Because the list is so huge, we divided it into two segments: Clients A-N; and clients O-Z, plus a Miscellaneous Section. See: Archive. Our list is the easiest to load and clearest of the lists that have been reproduced privately on the Internet.

• We have just published: International Currency Review Volume 34, #2 on Systemic Fraudulent Finance and The Legalisation of Financial Corruption. Also just published are issues of our titles Economic Intelligence Review, London Currency Report, Interest Rate Service and Arab-Asian Affairs. For further details, please check the second white panel on the Home Page.

• Globalist hegemony ideology and practice is comprehensively debunked in the Editor’s study entitled The New Underworld Order, which can be ordered via the books section of this website. If you want to see what may well happen if the angle of decline steepens much further, you could do worse than also order a copy of The Red Terror in Russia, by the contemporary Russian eyewitness Sergei Melgounov, another Edward Harle Limited book available direct from this website.

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NEW REPORT STARTS HERE:

MISPLACED WALL STREET GLEE AT FRAUD AGAINST U.S. TAXPAYERS
On Monday 23rd March, as everyone knows, the Dow Jones Industrial Average soared by 6.8%, or 497.48 points, after details were released of how the Geithner Treasury proposes to relieve the criminal banks of the proceeds of their Fraudulent Finance operations, also known as ‘troubled assets’. TV screens were plastered with the unsavoury spectacle of brokers hugging each other, clasping hands and slapping each other on the back with joy.

Wall Street was ecstatic over the latest instalment of the gigantic fraud which the Obama-Biden-Geithner cabal have concocted to achieve the real objective of reigniting the derivatives trading carousel to inject value into worthless assets, lurking behind the public consumption objective of ‘freeing up the banks to start lending again’.

And, as usual, investors were jumping to knee-jerk conclusions, as was made clear by the crass reporting of this episode by The New York Times, which included comments such as the following attributed to T. Timothy Ryan Jr., President of the Securities and Financial Markets Association, who said the opposite of the truth of the matter:

‘For the first time in seven months, I can say they’ve done it right’.

MID-SEPTEMBER ‘LOCKDOWN’ RECONFIRMED AS MOMENT OF TRUTH
Before we continue, note the ‘seven months’ period mentioned here. Seven months takes us back to 10th-12th September 2008, when the $14.0 trillion of sovereign and HM The Queen’s LOAN funds were placed into ‘lockdown’ following the advice that we felt compelled to provide concerning the outrageous ongoing exploitation of The Queen’s LOAN money, which had been languishing within the Treasury Custodial Account network since it was sent over by the Bank of England on 19th-20th June 2007 to Bank of New York Mellon, whereupon the funds were hijacked for carousel financing purposes contrary to the instructions of the owner(s) of the funds.

The entire $14.0 trillion was finally removed from access by US parties altogether on 29th January 2009, after it had become clear that President B. Obama was in breach of the undertakings that he signed during his European trip last year, to effect the releases and proceed with the transparent Group of Seven-Approved Dollar private sector System Refunding Programme agreed upon by the G-7 financial powers in 2007 and 2008.

The Editor’s ‘exchange’ between Her Majesty The Queen and President Obama, published with the report dated 24th March 2009, summarises the present ‘state of play’ with respect to the proposal to proceed with the Refunding Programme independently of US Government intermeddling, from London. It is appended to this report as an Appendix for your convenience.

Mr Timothy Ryan Jr.’s reference to ‘seven months’ indicates what we know to be the case, namely that the ‘lockdown’ of the $14.0 trillion was the crucial factor that triggered the showdown.

It is also clear that because that happened, the White House, both under Bush II and Obama, are wilfully determined to ‘do it their way’ in accordance with the wishes of the money center banks – ‘their way’ involving the revalidation and revaluation of derivatives assets that are worth nothing because they are all NON-RECOURSE. This is clearly demonstrated, with the aid of charts, in the latest issue of International Currency Review [Volume 34, #2], which was mailed worldwide on 18th March 2009, just as the worst criminal event recorded to date in this crisis, apart from the stealing of The Queen’s gold, was about to ‘pop’ (see below).

INTERNATIONAL CURRENCY REVIEW DECONSTRUCTION OF FRAUDULENT FINANCE
To the extent that we have been able to clarify matters here, it is therefore a fact that every major government, institution and central bank in the world that matters has our deconstruction, in words and pictures, of the Fraudulent Finance Ponzi carousel – so that any attempt to smother reality is a complete impossibility. The issue’s theme is Systemic Fraudulent Finance and The Legalisation of Financial Corruption – which is exactly what the Geithner Treasury and the Obama White House are attempting to achieve. There is no change whatsoever from the previous Administration.

Now, the pack of hedge fund ‘big noises’ who have said they will ‘support’ the Geithner Fraudulent Finance Upgrade is headed by Bill Gross, of Pimco, which ‘works for’ George Bush Sr.’s criminal network, and therefore meets the requirements of the Nazi bank which stands behind this crisis – namely Deutsche Bank. It will be recalled that the German Chancellor, Angela Merkel, is bribed by Bush Sr. to protect his network’s assets within the German banking system.

MERKEL ORDERED REVENGE MURDER OF BRITISH TROOPS IN NORTHERN IRELAND
So it was no surprise to us when, all of a sudden a few weeks ago, a number of British troops in Northern Ireland were shot dead in cold blood at point-blank range. Why did this suddenly happen? Because, we are advised by UK intelligence sources, the German Chancellor, in deference to DVD, Dachau, gave the instructions for the Irish terrorist network, an instrument of long-range German Abwehr pressure against the United Kingdom, to be re-activated.

And why did Frau Merkel give these instructions?

Because the DVD and their associates inside Deutsche Bank had worked out that the events of 10th-12th September last year represented the gravest threat to the DVD’s operations and to its primary institution, Deutsche Bank, since the Second World War,

In parenthesis, it will be readily recalled that immediately after the 7/7 bombing of the London Underground and a bus in Central London, the order for which was given by the former French President Chirac on behalf of the Franco-German alliance, i.e. DVD, the Germans were told by a furious British Government (even though Tony Blair was totally compromised by both the Bush Crime Family and the European Union: see our report dated 12th October 2005: Archive) that if these terrorist acts, including the atrocities that were still ongoing in Northern Ireland, which unpenetrated components of UK intelligence knew were controlled ultimately by DVD, did not cease forthwith, Britain would initiate measures to exit from the European Union Collective.

Rather than risk facing the collapse of their long-range strategic deception entrapment operation calling itself the European Union, the Germans complied, and called off their controlled ‘assets’ in the Irish theatre. These were deliberately and provocatively reactivated by Chancellor Merkel the other day, in revenge for the deadly blow inflicted on the German hegemony project, by the events of 10th-12th September 2008 reported by this service.

REVIVING THE CARCASS OF THE EXPIRED DERIVATIVES SECTOR
Meanwhile the Obama-Geithner team are trying to rebuild the carcass of the exposed derivatives giga-pyramid-selling scam, despite the now deeply embedded and widely held knowledge that derivative so-called ‘Structured Products’ are worthless, and represent dead trash.

They are doing this by printing money and by creating debt out of thin air, while simultaneously operating a carousel platform which was triggered after the US Treasury found a foreign bank corrupt enough to agree to provide the foreign ‘wrap’ needed to reignite Fraudulent Finance trading under the radar, using monies that were ‘sequestered’ after the withdrawal of the $14.0 trillion on 29th January 2009, to form the basis for the secret trading operations which have been running for several weeks now at full tilt behind the scenes.

OBAMA SIGNS LOMBARD ODIER DARIER HENTSCH UP FOR ROLLING TRADING PROGRAM
The foreign bank was selected and signed up when President B. Obama arrived in Ottawa, Canada, on 19th February 2009, accompanied by the Chairman of his National Economic Council, Lawrence Summers, and the National Security Adviser, General Jim Jones. The visit, lasting seven hours, was Obama’s first trip abroad. A former US Ambassador to Canada, Gordon Griffin, made the following revealing statement about the visit:

‘There is an important “beyond Canada” component to this. Ottawa is providing a global platform’, he said. But he did not elaborate. Let us, therefore, elaborate in his stead.

The ‘important “beyond Canada”’ dimension’ referred obliquely to the signing of Lombard Odier Darier Hentsch, a very old Swiss bank, as the master counterparty for the hidden carousel trades that have been activated since shortly after that visit.

In other words, it took the Obama Administration just three weeks to find a corrupt foreign bank to do its dirty work – a display of wilful intent to engage in Fraudulent Finance on a gigantic scale (see below) in gross defiance of the Group of Seven, which had long since agreed the cost-free formula for reliquefying the US banks on-the-books – a formula which would cost the US Treasury and the taxpayer NOTHING because it would yield private sector TAXABLE REVENUE.

PERVERSE U.S. OFFICIAL STRATEGY DOOMED TO FAILURE
Instead of adopting this strategy, President Obama has knowingly adopted the perverse route to perdition, in deference to the blackmailing behaviour of the US banks: accordingly, since Obama is prepared to have the Federal Reserve lend untold volumes of fiat money creating Treasury debt in the background, he is deliberately and knowingly mortgaging the future of several generations of Americans, when he could have adopted the correct course and salvaged not only the American banking system, and economy, but the country’s battered reputation as a pariah state.

But he decided otherwise.

The Editor is perfectly well aware of allegations being made against the President of the United States, in all dimensions; but as a frequent visitor and friend of America, he considers that it would be unseemly for a ‘foreigner’ to engage in the polemical debate that is raging under that heading.

Furthermore, as a visitor, it is incumbent upon him to try to be polite about the Head of State, which is why he gave Mr Obama the ‘benefit of the doubt’ in the report dated 24th March 2009. It is not our job to enter into acrimonious internal debates that do not directly impinge upon the key vexatious INTERNATIONAL ISSUES that we have every right and a duty to our subscribers, to address. Some Americans who complained about the Editor’s ‘benefit of the doubt’ comment may have failed to take proper account of the Editor’s position here.

However given the grave INTERNATIONAL consequences of the doomed policies that President Obama is pursuing, we now have no hesitation, especially in the light of what transpired on Monday 23rd March – to be elaborated below – in stating that President Obama is engaged in Financial and Economic Fraud, not only against the American people, but against the Rest of the World, as well. We hope that this statement clarifies our position once and for all.

BEST INDEPENDENT FINANCIAL BRAINS AREN’T BUYING IT
Cutting a swathe through The New York Times’ coverage on Tuesday 24th March of the obscene outbreak of selfish euphoria on Wall Street on Monday, the following sober observations by Daniel Alpert, a Managing Director of the hedge fund Westwood Capital, stood out (in a secondary article):

‘We see another $1.5 to $2 trillion of as yet unrecognized losses from US assets still to hit global financial sector balance sheets and challenge its institutions. The near daily announcements over the past two weeks, by money center banks and finance companies, that they are making money this year on an operating income basis, have become borderline irresponsible, relative to the known continued deteriorations in value of the assets on their balance sheets and the continuing impact of a worsening recession’.

In other words, everyone’s under water: so what are they talking about?

Bearing in mind that the object of the White House exercise is FIRST OF ALL to reignite and re-start the derivatives carousel right across the board – an intention of extreme perversity, as we’ve explained – here is a deconstruction of events from 18th March 09 onwards, showing how ruthless these criminals are and why they can now be considered as dangerous as their evil predecessors.

Restarting the moribund (since 10th-12th September 2008) derivatives fraudulent money machine necessitates velocity of transactions once the pump has been primed: otherwise, in this carousel trading system, everything stalls. What the criminalist financiers NEED to reignite the system is LOADS OF NEW MONEY. This is why Geithner has come up with this scheme for new public-private partnerships, financed by fiat money generated by the Federal Reserve out of thin air but creating permanent real official debt on the other side of the balance sheet, so that the ‘private sector’ can provide the ‘new money’ that the criminalist financiers need to restart their giga-trading platform.

GOVERNMENT ARRANGED FOR THE BANKS TO STIFF THE CHINESE
We now understand that, as explained in the report dated 24th March, the Chinese parties were paid $13 trillion, between Wednesday 18th and Friday 20th March 2009, although given that the phrase ‘source of funds’ is strictly taboo now, neither we nor our sources are able to identify the complete provenance of this enormous volume of money – representing the ‘first instalment’ of the colossal sum that the Chinese are owed as explained in the preceding report.

But the Chinese parties then made the fatal mistake of agreeing to place some of these funds into a sort of ‘public-private partnership’ arrangement in the context of the latest Geithner wheeze which sent Wall Street investors into paroxysms of misplaced delight on 23rd March.

Guess what happened?

• The banks held onto the money. The banks would not release the funds repositioned with them by the Chinese parties, for the purpose for which the funds are intended. The US money center banks basically said: ‘We’re not paying anyone’.

BANKS USE BASEL-II AND TARP AS THEIR PRETEXT FOR ILLEGAL SEIZURE
Now the current Basel-II full disclosure regulations and the TARP legislation preclude the creating of non-securities such as derivatives ‘products’ for buy-sell trading operations by the new public-private partnership in which the Chinese parties were enticed to participate – thereby ‘enabling’ the banks to refuse to cooperate and to use this state of affairs as their excuse for holding onto the reinvested Chinese funds.

So, even as the Chinese parties were left understandably fuming and livid with anger at having AGAIN been defrauded by the crooks in the White House and the US Treasury, Timothy Geithner and Dr Ben Bernanke appeared before the House Banking Committee on Tuesday 24th March to ‘plead’ for changes in the banking regulations to permit ‘looser’ requirements – in other words, to ‘ask’ Congress to junk Basel-II (unspoken) so that the newly invested Chinese money could be legally deployed for the purpose intended by the Chinese after their arms had been twisted when they had demanded payment, or else they would exercise their lien over the Federal Reserve.

CORRUPT GOVERNMENT AND CORRUPT BANKS WORKING TOGETHER
Before we go any further, it needs to be understood that the criminal enterprise banks and the US Government ARE WORKING TOGETHER. This week, the big banks are the culprits. Last week, the authorities were the culprits. But now that it is the big BANKS who are illegally holding onto the Chinese money: after all, if it cannot legally (under Basel-II/TARP) be deployed for the derivatives trading purposes intended (which was a disastrous mistake on the part of the Chinese), the proper course of action for the banks would be to send the money back. But, being criminal enterprises, they have of course held onto it instead. Which was the whole purpose of the exercise.

Because the Government and the banks work together, the US authorities twisted the arms of the Chinese and persuaded them to participate in transactions KNOWING THEM TO BE ILLEGAL. To go through the motions of appearing to be ‘kosher’, Geithner and Bernanke appeared the next day before the House Banking Committee to ask the US Congress to ‘loosen the regs’ so that inter alia (unspoken, as indicated above) the Chinese derivatives trades can go ahead in the context of the latest instalment of the Geithner shambles. All very clever, very cynical, ruthless, and criminal.

SO, WHAT ARE THE CHINESE GOING TO DO ABOUT THIS CRISIS?
The central issue arising from this deplorable state of affairs can therefore be summarised in the form of the following questions:

• What are the Chinese parties intending to do, given that they have yet again been double-crossed by the US authorities but cannot blame the US authorities directly because the problem has ‘arisen within the banks’?

• And how long will the Chinese parties give the Americans before they take drastic action, as is their right, to obtain satisfaction following this latest display of outrageous criminal US official and commercial banking behaviour?

BRITISH AND CHINESE HAVE BEEN TOO POLITE FOR TOO LONG
If this Editor may now be permitted to indulge here in unsolicited advice, both the Chinese and the British parties have, in our view, been far too accommodating all along, as this crisis has expanded. The British are too accommodating because at the highest levels, business is still conducted on the basis of gentlemanly exchanges, and everyone is TOO POLITE.

• When dealing with gangsters, politeness is taken for weakness, which is why the British, too, have been repeatedly taken to the cleaners by these crooks.

The Chinese, too, are extremely polite: we know this from the impeccable manners and behaviour towards us of the Chinese Government subscribers to our printed publications. It is not for us to advise (but we hereby do so!) that when dealing with the organized criminal gangsters who have long since usurped power in the United States, politeness is a waste of time. It has its place at the beginning of a conversation: but the deceived and double-crossed Chinese parties need not now adhere to traditional, civilised cultural values when the magnitude of the crimes committed against them is known by both sides. On the contrary, a much harder line, and a willingness to adopt harsh countermeasures, is indispensable. These crooks have their weak spots, and the Chinese parties have more than enough intellectual resources to analyse their mentality correctly.

CONGRESS CANNOT CHANGE BASEL-II RULES! THAT’S THE POINT
Now it stands to reason that if the House Banking Committee were to have agreed to implement regulatory changes that fly in the face of Basel-II rules, any such changes, if agreed upon, would take weeks or months to travel through Congress. But the Committee could hardly consider any such departure. So what is the net result?

The banks get to keep a sizeable proportion of the Chinese trillions, which, you won’t be surprised to hear, they will be trading inside the Lombard Odier Darier Hentsch-wrapped derivatives carousel that was started up with the direct approval and very probably under the SIGNATURE of President Barack Hussein Obama – who, along with his Vice President Joseph Biden, has been talking up the Geithner Fraudulent Finance proposals that caused such an outbreak of unfettered joy on Wall Street. Which is another way of saying that President Barack Obama, Mr Timothy Geithner, Dr Ben Bernanke and Vice President Joe Biden, are co-conspirators in massive frauds.

Because in respect of the refusal of the banks to release the Chinese money that they have now effectively stolen, these operatives aided and abetted this latest outrageous theft, and it is clear from Obama’s visit to Canada, where he signed up Lombard Odier Darier Hentsch, that they knew precisely what they were doing all along.

BANKS ‘BLACKMAILING’ GOVERNMENT: BY PRIOR AGREEMENT
There is another way of looking at this – namely, that the banks are effectively BLACKMAILING the US Administration in accordance with the following equation:

• Get the regulations (Basel-II) loosened, and then we’ll think about releasing the Chinese monies. Unspoken: We may or may not also think about releasing other monies, especially $3.0 trillion to a US paymaster, that we were supposed to have released on 23rd March but conveniently managed to avoid doing. Also unspoken: We’ll do what we think is best for us and no-one else.

Because of course on Monday 23rd March, when payouts were widely expected, NOBODY WAS PAID because the banks kept all the money. The banks are holding a gun to the White House.

But on the other hand, the White House is quite content with this state of affairs because although that’s the way it looks, in reality the White House and the US Treasury are in cahoots with the banks because the primary object of everything Obama is doing is to reignite the derivatives carousel, which is the very opposite policy he should be pursuing.

TOP OFFICERS OF THE BIG BANKS SHOULD HAVE BEEN ARRESTED
The official response to the US money center banks’ seizure of the Chinese and other funds should have been to arrest all the senior officers of all the banks in question, and to do so in front of the TV cameras. Instead of which, co-conspirator Mr Timothy Geithner and co-conspirator Dr. Bernanke, against whom papers were served some time ago, appeared before the House Banking Committee to ask Congress’s assistance in making it possible for the banks to ‘enable the Chinese funds to be put to the use for which they were intended’. (Not really).

Except that, having got their fingers burned yet again, the Chinese parties should surely have decided by now that there is no way they will participate in ANY further US dollar transactions whatsoever – which may be why JPMorganChase has announced that it is disposing of certain shares in ICB, a Chinese institution (code for: the Chinese told them to get out of their laundry).

If we boil all this down further, we can see not only that:

• This operation against the Chinese was a deliberate dialectical operation coordinated between the Obama-Geithner team and the money center banks;

but also that:

• The banks have annexed a great deal of Chinese (and other) money that they will now be trading illegally, while at the same time they are anticipating a ‘get out of jail free card’ for their ‘virtuous’ behaviour in being ‘unable’ to release the Chinese funds for buy-sell fraudulent derivatives trade operations because to engage in such derivatives transactions (which they do all the time anyway) under Basel-II rules, would be fraud, commanding substantial jail sentences.

Geithner is a co-conspirator and a fraudster in appearing before Congress to try to get it to agree to changing the law, knowing full well that the Congress will have great difficulty conceding that it should water down Basel-II – not least because if that were to happen, all foreign banks would be precluded from dealing with the US banks under the Bank for International Settlements-brokered arrangements. Therefore, the appearance before the House Banking Committee of Geithner and Bernanke to argue for changes which Congress cannot in all ‘conscience’ (sic) possibly deliver, represented in itself a fraudulent charade.

HOW THE CHINESE REACT TO THIS U.S. SCAM IS WHAT MATTERS NOW
As we understood the situation on 25th March, the Chinese parties appear not yet to have decided how to react to this latest American official provocation. However there seems every prospect that if this hideous logjam is not broken, the Chinese will recall all debts from the dollar system. They are also talking in public about the dollar being replaced by a new international currency based on the International Monetary Fund’s Special Drawing Right (SDR) composite unit – something that cannot possibly be agreed overnight, and will take a long time to come to fruition, if it ever does. But open Chinese official talk along these lines is intended to raise the temperature of the ‘debate’,

Once again, diplomatic behaviour seems quite out of place here. It would be preferable for the Chinese to publicise what has been going on. The Editor cannot see why the power of genuine publicity cannot be put to good use in intergovernmental relations.

Instead of fighting these swine behind diplomatic cover stories such as the tensions in the South China Sea, why not go public with the necessary criminal information?

In the unlikely event of this further unsolicited advice being taken, the proper course of action must be to publicise precise details of the relevant aborted transactions (dates, precise times, references and so on) so that nothing can be challenged.

Given the extreme gravity of these abominations, publicising them might do more to bring these American official crooks and criminal banking enterprises to their senses (if they have any) than any other course the Chinese could take.

G-20 MEETING IN LONDON WILL BE A FLOP
By extension, we can now safely predict that the next conference on the calendar, the Group of 20 meeting in the London area, will be a bitter flop. The wronged Chinese parties have no incentive left to assist these US criminals out of the mess they have willfully expanded under President B. Obama. And here’s another point to bear in mind.

These crooks are only too delighted when observers such as the Editor of this service focus, for instance, on the Madoff scandal, the Stanford dimension, or the Friehling indictment.

Why? Because these developments represent, for these criminal operatives, something called COLLATERAL DAMAGE. They couldn’t care less about Madoff or his victims, or about Stanford ditto (although they took good care to murder Stanford’s sole accountant on 1st January 2009, the day after his contract with Stanford expired). So, while we are publishing reports about these PAST Fraudulent Finance operations, the criminalists in power and in the criminal banks are well away with their new Fraudulent Finance operations.

CRIMINALISTS DON’T CARE ABOUT PONZI VICTIM SUICIDES
The other day the Editor received yet another email from one of the 320,000 Ponzi victims, asking whether, in the Editor’s opinion, the money ‘due’ on the ‘humanitarian’ or ‘prosperity’ programs would ever be paid. In the first place, this is an unfair question: it is not the Editor’s responsibility to offer ‘opinions’ on other people’s problems (although the Editor does know the true answer to that question). But more to the point, the correspondent reminded the Editor of what he already knows – that many Ponzi victims have committed suicide, died in despair, suffered family breakdowns or other traumas as a direct consequence of the despicable behaviour of these criminals, who appear to have stolen ALL their money – consistently with the classic Ponzi scamming model. We started explaining this in the first quarter of 2007, long before the word Ponzi became almost as common as deleted expletives following the Madoff explosion: but the affected victims didn’t want to know.

But the point here is this: do these unspeakable criminals care a fig about the fact that an unknown number of these unfortunate people have committed suicide or died in despair?

Need we stress that the criminal operatives, having their consciences seared through with a hot iron, are completely indifferent to the suffering they have caused? True Christians know that these people will perish in hell for eternity – a fact that many of the perpetrators themselves also know full well, which is one reason why, psychologically, the fools think they have nothing left to lose by carrying on with their corrupt ‘business as usual’.

THE MAD INTENTION: TO MAKE THE ENTIRE DERIVATIVES SECTOR WHOLE AGAIN
With the Lombard Odier-wrapped illicit derivatives trading programme in full swing and being showered with what ‘new money’ the crooks have been able to generate and steal, the criminal official intention is to rebuild the broken derivatives sector, with the assistance of ‘bought and paid for’ corrupt hedge fund operators and money managers (not all of whom are professional sheisters obviously), and to keep the carousel going and building, fed with new money filched from gullible investors, whether borrowed on permissive terms from the Federal Reserve or not, with a view to making the entire derivatives mountain of around $700 trillion (excluding double-counting) ‘whole’ – notwithstanding the reality that hardly any of these derivatives ‘Structured Products’ contain ANY real value at all, since almost all of them are NON-RECOURSE.

This is all explained in the latest issue of International Currency Review, and also in Economic Intelligence Review [see second white panel], as well as in the four-page leaflet containing the three main charts which is being distributed in Washington, DC, and elsewhere.

All that our latest subscriber printed materials do is to point out the stark reality of the fact that these false constructs (derivatives) are by definition totally fraudulent and devoid of value, so that retrospective attempts sponsored by the demented US Government to pass off that they contain value represents a massive, unprecedented fraud on the US taxpayer and future generations of Americans, while at the same time:

• Guaranteeing the accumulation of new mountains of debt arising from the Federal Reserve’s outrageous lending for speculative purposes; and:

• Guaranteeing a hyperinflation. Pundits are now suggesting that this phenomenon will emerge in several years’ time. The Editor’s view is that the choices made by the new bunch of fantasists in charge in Washington are so extreme, So damaging, so wrong-headed and so destabilising, that the hyperinflationary pressures will become apparent much sooner than that – WITHOUT delivering any ‘beneficial’ impact to the ‘real’ economy in the interim.

IS THIS BEING DONE ON PURPOSE?
The decisions made since Obama took office are SO perverse that one is tempted to join those who insist that this is all being done on purpose. The correct answer to such empty speculation is that we don’t know whether this is the case or not.

On the basis of the Christian knowledge that the devil is the author of all lies and confusion, the Editor’s view is that these operatives are wallowing in devilish confusion and have fallen prey to diversionary, self-defeating, complex, elaborate ‘whizz-kid’, knee-jerk ‘solutions’ in a desperate bid to ‘resolve’ the colossal problem created by the corrupted money center banks themselves, which were indulging, until mid-September 2008, in unproductive, illicit, off-balance sheet speculative activity on a scale with no historical precedent.

That suggests that if it had not been for such wasteful,unproductive, untaxed, off-balance sheet speculation, many of the banks in question would be surplus to requirements.

According to Story’s First Law, ‘all organisations are run for the benefit of those who are running the organisation’. This, of course, explains why, deprived of the toys that they were playing with, the banks went on strike and have been hoarding and stealing funds ever since – precisely with a view to restarting the speculative, win-win Ponzi Fraudulent Finance that they were wallowing in prior to mid-September 2008, instead of focusing primarily on lubricating the real economy.

BANKS SUPERFLUOUS TO REQUIREMENTS
The smarter solution would have been to allow more than just Lehman Brothers to go to the wall. Wall Street, where the wall is, is supposed to believe in free markets, with no participant being subsidised at the expense of other participants. The new, decadent, twist is that all the relevant participants can have their corporate snouts in the trough, and to hell with the hyperinflationary consequences. The Wall Street institutions and the satellite hedge funds and other intermediaries, along with the banks, are all being subsidized AT THE EXPENSE OF THE REAL ECONOMY.

• It’s called a banker’s ramp.

IT’S NOT ‘THE ECONOMY, STUPID’: ITS ‘THE DERIVATIVES, STUPID’
And to cover all this up, the United States is now governed by a man who takes his cue from Fidel Castro and President Chavez. He thinks his gift of the gab can be relied upon somehow to save him from the devastating and very rapidly approaching adverse consequences of his perverse, wrong-headed decisions, which are holding up the recovery of the Rest of the World.

And he is using this gift of the gab to LIE to the American people that this is all about reviving the real economy, when it isn’t. It’s all about reviving the fraudulent derivatives sector carousel.

AND NOTHING ELSE.

• CMKM UPDATE:
The previously reported theft of the $12.8 billion was orchestrated to achieve three objectives at the same time:

• To dissolve the multi-billion dollar claims and Court Order related to CMKM et al, and to make it clear that the CMKM Attorney(s) have signed the appropriate documentation to secure the funds held at the Depositary Trust Clearing Corporation under Court Order, and STEAL THE MONEY.

• To satisfy the ‘Payee’ et al, by authorising and signing a Presidential Executive Order (15th January 2009) – thereby circumventing public disclosure (and possible physical threat when George W. Bush was no longer President of the United States) and STEAL THE MONEY.

• To STEAL the $12.8 billion via Presidential Order/Court Claim – and funds sitting under the control of the DTCC – with the intent to send the money to Carlyle et al., without any repercussions – via Bank of America, Tyler, Texas, and then to Canada.

• LORD MYNERS UPDATE:
Some time ago we reported that Lord Myners, the City (of London) Minister in the Gordon Brown Government, had publicly suggested that City bankers engaged in Fraudulent Finance should be prosecuted. We then received a prompt message to the effect that ‘they’ would be grateful if we did not ‘go on about this’. There was no explanation, as usual.

It has since emerged that Lord Myners, who was selected to head up the British Government’s investigation into tax havens, chaired a hedge fund group operating through Jersey, Channel Islands. Jersey is used by fund managers to keep profits offshore so as to avoid British tax.

Before becoming a Government Minister, Lord Myners was appointed to head a company that took over Liberty Ermitage Jersey, controlling investments worth about $2.0 billion. Myners made his fortune with Gartmore, a prominent City fund management outfit, the Jersey, C.I., offshoot of which handled millions of pounds for more than 4,100 overseas investors.

Lord Myners was also involved with Aspen Re, a reinsurance firm located in Bermuda, thereby saving large sums in tax annually. A UK Treasury spokesman said on 23rd March:

‘All of his past business roles are a matter of public record and he has made a full declaration of the interests. The experience he brings continues to be hugely valuable to the Government at a time when we are working to restore and rebuild the banking sector’.

In other words, the British Government is relying, in part, on the toxic experience of a hedge fund manager, familiar with the Fraudulent Finance sector of course, to advise them on how to REBUILD the banking sector which has been devastated by its indulgence in Fraudulent Finance.

Maybe when he called for British bankers who have been engaged in Fraudulent Finance to be prosecuted, he was going too far for the likes of certain interests. It is normally the case that these people reinvent themselves as ‘whiter than white’ (‘Blankfeinism’), but it would appear that Lord Myners’ linen might not necessarily emerge gleaming white from the wash.

APPENDIX ONE:
Observations from The New York Times on the latest instalment of ‘Geithnerism’ [25th March 2009]:

• Can banks that received Government bailouts use taxpayer money to bid on toxic assets, in the hope of making a profit? [Correct answer: NO – Ed.].

• Can banks sell some assets and then use the proceeds, leveraged by generous Government financing, to buy more of the same? [Correct answer: NO – Ed.].

• Might investment houses be tempted to overpay, if doing this buoys up the value of their own investments? [TARP provides for an Oversight Review Committee with clawback powers to compel restitution if too much is paid. This explains why Goldman Sachs is rushing to pay back the billions it received from the Government so that it is not bound by the TARP restrictions. No-one is asking about ‘source of funds’: whence the Goldman billions for repaying the Government? – Ed.].

• In the end, it will be the taxpayer who will be largely footing the bill.
[Not ‘in the end’: straight away – Ed.].

• Joseph E. Stiglitz, a Nobel Prize-winning economist, in an interview with Reuters, called the program “very badly flawed” and said it offered “perverse incentives” that amounted to “robbery of the American people”. [Couldn’t have said it better ourselves – Ed.].

• Bert Ely, a prominent banking consultant, said investors would be cautious because many crucial details were still missing – the size and terms of loans they would receive from the Federal Deposit Insurance Corporation, for example, and the amount of equity they would be allowed to put in, and whether banks would be allowed to walk away if they did not like the price at auction. “Today we know a lot more than we did yesterday, right?” Mr Ely said. “I’m being facetious!”.

• Many questioned the auction mechanism to sell toxic assets off from banks’ balance sheets. Price, most experts agree, is the biggest sticking point. The banks want to sell high. Potential investors want to buy low. [There is STILL no indication of how the fake ‘assets’ that are to be bought initially, will be priced – Ed.].

• Banking executives said that that their institutions would not want to unload ‘assets’ at fire-sale prices, a step that would compel many of the banks to raise sizeable amounts of additional capital. [Even though ‘fire-sale’ prices would be much too expensive given that the assets are fraudulent to begin with and therefore worth $0. $0 + $0 = $0, usually – Ed.].

• Under the accounting rules, banks must carry securities on their books at market prices. Most financial firms have already marked down these ‘assets’ to prices that might be low enough to lure buyers. But banks need not carry ordinary loans at market value. Instead, they are allowed to hold them at their higher values until they are repaid. So, for many commercial banks, selling loans now, at distressed prices would almost certainly lead to large losses. Such losses might raise questions about how some banks will fare in a so-called stress test that Federal regulators are in the process of applying to about 20 lenders.

“I don’t see how they are going to get the banks to sell”, said an executive at a large bank.
There are going to be substantial write-downs taken to get them off the books”.
[In other words, ‘Geithnerism’ CHANGES NOTHING. It doesn’t ‘amend reality’].

INTENTION HAD BEEN TO GET STARTED WITH CHINESE MONEY
After the Chinese parties had made the grave mistake of caving in to cynical pressure from the US authorities to participate in the latest instalment of ‘Geithnerism’, the Chinese would presumably have indicated their willingness for some of their funds to be used to purchase ‘toxic’ assets. The banks would have said: ‘But at what price?’ The Chinese would have responded: ‘Well if you don’t know the start-up buying price, we want our money back’. At which point the banks said: NO WAY.

APPENDIX TWO [excerpted from the report dated 24th March 2009]:
FACE-TO-FACE EXCHANGE BETWEEN PRESIDENT OBAMA AND THE QUEEN

Her Majesty: Good morning, Mr President, how very nice to meet you.

President Obama: It’s a pleasure to be here, Your Majesty.

HMQ: Mr President, I was concerned to hear about a small matter of $52 billion of my guarantees that apparently went missing recently.

PO: I understand that these were restored, M’am.

HMQ: Yes, but why were the guarantees diverted or stolen in the first place? Were any of my guarantees used for purposes for which they were not intended?

PO: I don’t know M’am. I imagine not.

HMQ: Mr President, you are aware, are you not, that after my LOAN funds within a total amount of $6.2 trillion languished within your banking system within the Treasury Custodial Account network at several money center banks for 19 months, to no avail, I was compelled, on 29th January 2009, to order the withdrawal of these funds, which were made available via the Bank of England on 19th-20th June 2007 to finance the Group of Seven-Approved Dollar System Refunding Programme by means of transparent private market trading transactions?

PO: I am, M’am.

HMQ: Mr President, are you aware of the REASON that I had to order these funds to be withdrawn?

PO: Not entirely, Your Majesty. Please explain.

HMQ: Mr President, when you toured European countries last year, you signed documents in which, I understand, you pledged to release all the blocked or hijacked funds and to proceed, if I am not mistaken, with the G-7-Approved private sector Refunding Programme. I had been led to believe that, in the light of your undertakings, you would indeed honour your commitments.

PO: My advisers decided that I should adopt alternative strategies, I am afraid.

HMQ: But Mr President, a signed commitment is a signed commitment, you know! Furthermore, my own expert advisers inform me that the ‘alternative strategies’ that your officials have adopted are designed to revalidate and revalue fundamentally worthless false derivative ‘assets’ while at the same time accumulating vast new mountains of real debt with which generations of Americans will be burdened in the future – a state of affairs which could have been entirely avoided if you had implemented the Group of Seven-Approved Dollar System private sector Refunding Programme for which I provided the necessary funds on LOAN, and which you undertook to do last year.

PO: Unfortunately, M’am, I was advised that our banks would not be prepared to cooperate in the proposed G-7-Approved private sector Refunding Programme.

HMQ: But Mr President, you carry the privilege of being the most powerful human being on earth! You have the power to insist upon the implementation of what was agreed by the world’s leading financial powers in 2007 and 2008! In addition, I made available a very large sum of money pro bono publico on a LOAN basis to finance this project, which I told the Group of Seven powers in 2007 was necessary ‘for the sake of the whole of humanity’. Moreover the Group of Seven-Approved private sector Refunding Plan would have cost the US Treasury NOTHING, while showering it with windfall tax revenues for a long time to come! What on earth persuaded you to disregard this very simple and straightforward solution to your problems, which are OUR problems, too?

PO: Uh, I hear what you say, M’am. It looks as though the various patchwork schemes developed by Timothy Geithner are going nowhere anyway. I’ll reconsider the situation.

HMQ: Ah, but Mr President, as you know my LOAN funds were withdrawn on 29th January after it had become clear that your Administration was not about to honour its undertakings in this regard. I am advised that there is now a proposal that the G-7-Approved Refunding Programme should be run out of London. Very conveniently, there is a provision in British tax law whereby funds that are resident within the British jurisdiction for 24 hours, are taxable.

My Government finds it most attractive that windfall tax accruals should arise from such ongoing, transparent on-the-books trading activity. Of course, since the Refunding Programme will remain an American private sector operation, your Treasury will likewise receive immense ongoing accruals from tax. So, by running the transparent private sector Refunding Programme from London, we will be able to help you, after all. Don’t you think the daffodils in my garden are gorgeous this year?

PO (looking out of the Palace window at the magnificent display of British daffodils): Yes, Your Majesty, they are gorgeous. Don’t you think so, Michelle?

LIST OF U.S. STATUTES, SECURITIES REGULATIONS AND LEGAL PRINCIPLES OF WHICH THE CRIMINALISTS, ASSOCIATES AND ALL THE MAIN FINANCIAL INSTITUTIONS REMAIN IN BREACH:

LEGAL TUTORIAL: The Steps of Common Fraud:

Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:

• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scanter] when it causes injury to another…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.

• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, ‘Law Dictionary’, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.

Step 3: Theft by Deception and Fraudulent Conveyance:

THEFT BY DECEPTION:

• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.

• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.

• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.

FRAUDULENT CONVEYANCE:

• “FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.

• “Conveyance made with intent to avoid some duty or debt due by or incumbent or person (entity) making transfer…”.

Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.

U.S. SECURITIES REGULATIONS OF WHICH INSTITUTIONS
HAVE BEEN SHOWN TO BE IN BREACH [SEE REPORTS]:

• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
• 97-13 Bank Secrecy Act, Recordkeeping Rule for funds transfers and transmittals of funds, et al.

U.S. LAWS ROUTINELY BREACHED BY THE CRIMINAL OPERATIVES AND INSTITUTIONS:

• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminalist activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war.

• Please be advised that the Editor of International Currency Review and associated intelligence services cannot enter into email correspondence related to this or to any of the earlier reports.

We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been solely and exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, suggestions to the contrary being actionable for libel in the English Court.

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