Tag Archives: multitrillion

The Nation: Ron Paul’s Fight For Transparency

The Obama administration condemns WikiLeaks in the most extreme terms, with White House spokesman Robert Gibbs referring to the people involved in the leaking and distribution of diplomatic cables as “criminals,” and Secretary of State Hillary Clinton describing the latest WikiLeaks revelations as an ” attack on America's foreign policy interests.” Attorney General Eric Holder talks of using the Espionage Act and other tools to go after WikiLeaks founder Julian Assange. Democrats in Congress echo the criticisms — with Senate Foreign Relations Committee chair John Kerry ripping Assange for having done “real damage” to U.S. interests — or simply remain silent. Some are openly working with neoconservative Republicans to come up with new laws to restrict the flow of information about U.S. foreign policy, Is anyone in official Washington standing up for transparency? Is anyone saying that we should be more concerned about the revelations of wrongdoing than killing the messenger? Yes, if you count Texas Congressman Ron Paul as a resident of official Washington. The Texas Republican who has long been the sternest critic in Congress of the imperial ambitions of presidents of both parties, rejects the notion that WikiLeaks is the problem. “Rather than worry about the disclosure of embarrassing secrets we should focus on our delusional foreign policy,” argues Paul, who has run for the presidency as both the Libetarian nominee and a Republican primary candidate. “We are kidding ourselves when we believe spying, intrigue and outright military intervention can maintain our international status as a superpower while our domestic economy crumbles in an orgy of debt and monetary debasement.” Continued at: http://www.npr.org/2010/12/13/132021734/the-nation-ron-paul-s-stand-for-transpar… added by: Dagum

A Secretive Banking Elite Rules Trading in Derivatives

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential. Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk. In theory, this group exists to safeguard the integrity of the multitrillion-dollar market. In practice, it also defends the dominance of the big banks. The banks in this group, which is affiliated with a new derivatives clearinghouse, have fought to block other banks from entering the market, and they are also trying to thwart efforts to make full information on prices and fees freely available. more at link…. They rule more than derivatives, but if speak out about it, you're called “crazy” by the media propagandists they control. The Creature from Jeckyll Island rules your life! added by: rodstradamus