The first credit crunch ever? The Fall of ROME.
November 30, 2008
First credit crunch traced back to Roman republic
Mark Brown
Guardian
November 28, 2008
Politicians searching for historical precedents for the current financial turmoil should start looking a bit further back after an Oxford University historian discovered what he believes is the world’s first credit crunch in 88BC.
- A d v e r t i s e m e n t
The good news is that Philip Kay knows how the Romans got themselves into financial bother. The bad news is no one knows how they got themselves out of it.
“The essential similarity between what happened 21 centuries ago and what is happening in today’s UK economy is that a massive increase in monetary liquidity culminated with problems in another country causing a credit crisis at home. In both cases distance and over-optimism obscured the risk,” said Kay, a supernumerary fellow at Wolfson College.
The monetary historian is giving a lecture today in which he will reveal how Cicero, the Roman orator, gave a speech in 66BC in which he alluded to the credit crunch. Cicero was arguing that Pompey the Great should be given military command against Mithridates VI, king of Pontus on the Black sea coast of what is now Turkey. He reminded his audience of events in 88BC, when the same Mithridates invaded the Roman province of Asia, on the western coast of Turkey. Cicero claimed the invasion caused the loss of so much Roman money that credit was destroyed in Rome itself.
They’re Taking The Patriots Away!
November 30, 2008
They’re Taking The Patriots Away!
YouTube
November 30, 2008
- A d v e r t i s e m e n t
//Random iframe content- © Dynamic Drive (www.dynamicdrive.com) //For full source code, and Terms Of use, visit http://dynamicdrive.com //This credit MUST stay intact for use var ie=document.all&&navigator.userAgent.indexOf(“Opera”)==-1 var dom=document.getElementById&&navigator.userAgent.indexOf(“Opera”)==-1 //Specify IFRAME display attributes var iframeprops=’width=588 height=158 marginwidth=”0″ marginheight=”0″ hspace=”0″ vspace=”0″ frameborder=”0″ scrolling=”no”‘ //Specify random URLs to display inside iframe var randomcontent=new Array() randomcontent[0]=”http://freespeech.vo.llnwd.net/o25/pub/ads/fourth.html” randomcontent[1]=”http://freespeech.vo.llnwd.net/o25/pub/ads/terror.html” randomcontent[2]=”http://freespeech.vo.llnwd.net/o25/pub/ads/reynolds.html” randomcontent[3]=”http://freespeech.vo.llnwd.net/o25/pub/ads/endgame.html” randomcontent[4]=”http://freespeech.vo.llnwd.net/o25/pub/ads/fabled.html” randomcontent[5]=”http://freespeech.vo.llnwd.net/o25/pub/ads/obama.html” //No need to edit after here if (ie||dom) document.write(”) function random_iframe(){ if (ie||dom){ var iframeobj=document.getElementById? document.getElementById(“dynstuff”) : document.all.dynstuff iframeobj.src=randomcontent[Math.floor(Math.random()*randomcontent.length)] } } window.onload=random_iframe
Israel Warned Not to Attack Iran Until Obama Takes Office
November 30, 2008
Israel Warned Not to Attack Iran Until Obama Takes Office
Tim McGirk
Time Magazine
November 25, 2008
U.S. officials have asked Israel to refrain from launching any major military action in the region during the waning days of the Bush presidency, Israeli sources have told TIME. Previously, some Israeli military officials had hinted to the media that if Israel were to carry out its threats to strike at Iranian nuclear installations, it might do so before Barack Obama enters the White House in January. But now a Defense Ministry official says, “We have been warned off.”
- A d v e r t i s e m e n t
The call for restraint was relayed to Israeli officials by senior U.S. counterparts, TIME’s sources say, and it is likely to be reinforced during Monday’s valedictory meeting in Washington between Israeli Prime Minister Ehud Olmert and President George W. Bush. (See pictures of President Bush in the Middle East.)
Washington’s concerns are not limited to the possibility of Israel attacking Iran, the sources say; U.S. officials have also cautioned Israelis against launching a ground assault inside the besieged Palestinian territory of Gaza in a bid to stop militants there from firing rockets into southern Israel. Bush Administration officials warn that such an attack could cost many lives and jeopardize the painstaking, thus far futile efforts of U.S. Secretary of State Condoleezza Rice to broker a peace agreement between Israel and the Palestinian Authority.
With only 1,448 days until election day 2012, Ron Paul ponders another run
Andrew Malcolm
L.A. Times
November 19, 2008
With only 1,448 days left before the 2012 election, you-know-who is making plans to launch another long-shot campaign for the presidency.
So much can happen before Nov. 6, 2012: Hillary Clinton could be on the Supreme Court. Her husband could be getting $400,000 per speech.
There’ll be yet another James Bond actor. Shrek IX will be showing. And Harry Reid will be scowling. Still.
- A d v e r t i s e m e n t
Also, you can bet Rep. Ron Paul will be running for the White House again, probably as a Republican. Not so much to actually win, mind you; RP runs to make a point about less government and foreign intervention.
And anyway by then, at age 77 Paul will be the second oldest guy to launch a losing presidential campaign, behind only Ralph.
Thanks to one of our favorite libertarian writers, David Weigel over at Reason.com, we get a Ron Paul update and a peek inside the opaque window that is the perpetual Paul campaign. Weigel tells us, via Paul’s grandson-in-law Jesse Benton, that the Texas congressman is pondering another run.
Benton says Paul “would be very likely to run as a Republican,” in large part because the hated media conspiracy that allegedly ignores him so much gives him more exposure as a GOP candidate than as some kind of fringe nutjob.
Of course, Paul’s total $35 million is only about two weeks’ or less take for the ‘08 Barack Obama money-printing machine.
But since when have the odds ever deterred Paul?
Ron Paul Warns That U.S. Will Support Israeli Attack On Iran
November 30, 2008
Ron Paul Warns That U.S. Will Support Israeli Attack On Iran
Fresh reports on Iran’s nuclear capability contradict National Intelligence Estimate
Steve Watson
Infowars.net
Thursday, Nov 20, 2008
Texas Congressman Ron Paul has warned that any strike on Iran’s nuclear facilities undertaken by the Israeli air force will take place with the explicit backing of the U.S. government.
Speaking to Press TV, Iran’s state backed news agency, the Congressman warned that unilateral Israeli action would be an impossibility.
“No matter what they do, it is our money, it is our weapons, and they are not going to do it without us approving it,” Paul commented.
The Congressman’s warning comes in light of a report in the New York Times by nuclear physicist Richard Garwin that suggests Iran has produced nearly enough nuclear material to create one atomic bomb.
The report contradicts last year’s National Intelligence Estimate which stated that Iran halted work toward a nuclear weapon under international scrutiny in 2003 and is unlikely to be able to produce enough enriched uranium for a bomb until 2010 to 2015.
Israeli Prime Minister Ehud Olmert has called on the world to join Israel in putting a stop to Iran’s nuclear program.
“Iran has not terminated its pursuit of nuclear weapons,” Olmert told a gathering of North American Jewish leaders in Jerusalem. “Iran cannot become nuclear. Israel cannot afford it…the free world must not accept it. We must all do whatever we can to prevent it.”
Israeli Defense Minister Ehud Barak has said the US and Europe should set aside their differences with China and Russia and help Israel put up a united front against Iran.
Israeli Air Force Commander General Ido Nehushtan has said that his forces are ready to follow any order to thwart Iran’s nuclear programs.
Bush Hands Over Reins of U.S. Economy to EU
November 30, 2008
Bush Hands Over Reins of U.S. Economy to EU
Dick Morris & Eileen McGann
NewsMax
November 21, 2008
The results of the G-20 economic summit amount to nothing less than the seamless integration of the United States into the European economy.
In one month of legislation and one diplomatic meeting, the United States has unilaterally abdicated all the gains for the concept of free markets won by the Reagan administration and surrendered, in total, to the Western European model of socialism, stagnation, and excessive government regulation.
- A d v e r t i s e m e n t
Sovereignty is out the window. Without a vote, we are suddenly members of the European Union. Given the dismal record of those nations at creating jobs and sustaining growth, merging with the Europeans is like a partnership with death.
At the G-20 meeting, Bush agreed to subject the Securities and Exchange Commission (SEC) and our other regulatory agencies to the supervision of a global entity that would critique its regulatory standards and demand changes if it felt they were necessary. Bush agreed to create a College of Supervisors.
According to The Washington Post, it would “examine the books of major financial institutions that operate across national borders so regulators could begin to have a more complete picture of banks’ operations.”
Their scrutiny would extend to hedge funds and to various “exotic” financial instruments. The International Monetary Fund (IMF), a European-dominated operation, would conduct “regular vigorous reviews” of American financial institutions and practices.
The European-dominated College of Supervisors would also weigh in on issues like executive compensation and investment practices.
There is nothing wrong with the substance of this regulation.
Bill Maher: Conspiracy Theorist
November 30, 2008
Bill Maher: Conspiracy Theorist
You Tube
November 19, 2008
A clip from the Nov. 14 episode of HBO’s Real Time with Bill Maher.
Minority Report: CCTV Predicts Crime
November 30, 2008
Minority Report: CCTV Predicts Crime
Sky News
November 27, 2008
The CCTV system has gone up in sites across Portsmouth and it will reportedly help predict crimes before they actually happen.
- A d v e r t i s e m e n t
The city’s council has set up the network of “intelligent” cameras that can alert an operator to suspicious behaviour.
The system is able to spot “unusual” incidents like somebody loitering or a vehicle travelling too fast.
It then alerts CCTV operators so they in turn can assess the situation and decide what action – if any – needs to be taken.
The system is being set up to watch quiet areas like car parks, stairwells or corridors in buildings and streets at night-time.
This is to allow an operator to monitor more cameras without having to watch each screen simultaneously.
“Although we are a long way off Minority Report, it is a step closer,” said camera maker Smart CCTV’s Nick Hewitson.
Italian Judge: Blogs are Illegal
November 30, 2008
Italian Judge: Blogs are Illegal
John Ozimek
The Register
November 29, 2008
Italian bloggers are up in arms at a court ruling early this year that suggests almost all Italian blogs are illegal. This month, a senior Italian politician went one step further, warning that most web activity is likely to be against the law.
- A d v e r t i s e m e n t
The story begins back in May, when a judge in Modica (in Sicily) found local historian and author Carlo Ruta guilty of the crime of “stampa clandestina” – or publishing a “clandestine” newspaper – in respect of his blog. The judge ruled that since the blog had a headline, that made it an online newspaper, and brought it within the law’s remit.
The penalties for this crime are not onerous: A fine of 250 Euros or a prison sentence of up to two years. Carlo Ruta was fined and ordered to take down his site, which has now been replaced by a blank page, headed “Site under construction”, and a link directing surfers to his new site. Hardly serious stuff – except that he now has a criminal record, and his original site has disappeared.
The offence has its origins in 1948, when in apparent contradiction of Article 21 of the Italian Constitution guaranteeing the right to free expression, a law was passed requiring publishers to register officially before setting up a new publication. The intention, in the immediate aftermath of Fascism, may have been to regulate partisan and extremist publications. The effect was to introduce into Italian society a highly centrist and bureaucratic approach to freedom of the Press.
Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo
November 30, 2008
Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo
Mike Adams
Natural News
November 29, 2008
An internal memo from a top Citibank analyst reveals what the banks really think about the global financial situation, and the outlook is grim.
“The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed through into an inflation shock,” wrote Tom Fitzpatrick, Citibank’s chief technical strategist.
- A d v e r t i s e m e n t
He goes on to explain that the massive money creation efforts by the Federal Reserve and other central banks will end with one of two things: A resurgence of inflation, or a fall into “depression, civil disorder and possibly wars.” Either outcome, he says, will cause the price of gold to skyrocket. Gold will push to well over $2,000 per ounce, he explains.
The timing on all this? Sometime in either 2009 or 2010, said the analyst.
This coincides with predictions I’ve made here on NaturalNews.com, where I’ve publicly predicted price inflation of 20% – 40% in 2009, and the financial collapse of the United States government (sometime before 2025) due to an irreversible debt burden.
I’ve also predicted that when the people wake up and realize their dollars have been looted by the Treasury and turned into worthless pieces of paper, there will be riots in the streets.
These events have already been set into motion. It is now only a matter of time until they bubble to the surface. On the day the mainstream taxpayers actually figure all this out, don’t be caught out in public. Stay home.
Click to read:
Financial Disaster Will Lead to Civil Disorder in 2009 or 2010, Says Secret Citibank Memo
From Telegraph.co.: Citigroup said the blast-off was likely to occur within two years, and possibly as soon as 2009. Gold was trading yesterday at $812 an ounce. It is well off its all-time peak of $1,030 in February but has held up much better than other commodities over the last few months – reverting to is historical role as a safe-haven store of value and a de facto currency…. more
