Wednesday, April 18, 2012
Man Locked In House Burned To Death In Foreclosure Eviction Shoot Out With Cops
http://blog.alexanderhiggins.com/2012/04/13/man-locked-house-burned-death-foreclosure-eviction-shoot-cops-117971/
Police say the man then locked himself inside the house resulting in a standoff with police during which police flew flash grenades, tear gas and other concussive explosive devices into the apartment for over an hour in an attempt to force the man out.
The result of the chaos was a fire during the which the man was burned to death.
CNN reports:
A man being evicted from his house shot a deputy and a locksmith and then locked himself inside and was later burned alive after police grenaded the house for an hour.
Police say a man shot a sheriff’s deputy and a locksmith when they tried to evict him from the his apartment which was being foreclosed on.Police say the man then locked himself inside the house resulting in a standoff with police during which police flew flash grenades, tear gas and other concussive explosive devices into the apartment for over an hour in an attempt to force the man out.
The result of the chaos was a fire during the which the man was burned to death.
CNN reports:
The Washington Post reports:Sheriff’s deputy, locksmith killed during eviction; body found in burned building
By the CNN Wire Staffupdated 8:58 PM EDT, Fri April 13, 2012(CNN) — A locksmith hired to help in the process of evicting a California tenant was shot dead, along with the sheriff’s deputy serving the eviction notice, police said Friday.STORY HIGHLIGHTS
- NEW: A locksmith helping in the eviction process was shot dead, police say
- NEW: An unidentified body was found inside the burned apartment building
- NEW: A police officer says authorities are not looking for any suspects in the case
- A sheriff’s deputy was fatally shot while trying to serve an eviction notice in Modesto
In addition to the two men shot dead, a lone body has been found inside the charred ruins of the Modesto, California, apartment building, Modesto police Officer Chris Adams told CNN on Friday.
[...]The suspect locked himself into the home after the shootings, starting a standoff that lasted more than 10 hours.
After 10 p.m. local time Thursday, a fire erupted from the apartment and flames could be seen shooting from the roof.
The fire ignited after authorities threw flash grenades and tear gas into the apartment to try to flush the shooter out, Stanislaus County Sheriff Adam Christianson told reporters.
Source:CNN
Police find body inside fire-gutted California home after standoff over deputy killing
The body of a man suspected of gunning down a deputy and a locksmith when they tried to serve eviction papers was discovered Friday in the rubble of an apartment that was gutted by fire during a standoff with authorities.
[...]
Jonathon Mullinix, 20, a neighbor, said Ferrario was reserved and often kept to himself.
He had told Mullinix he worked for a private security company and had handguns, rifles and shotguns. Mullinix said Ferrario also had several security cameras in windows of his house.
[...]
The Modesto Bee newspaper said the Ferrario property had fallen behind on payments on a $15,000 Bank of America mortgage taken out in 2003. The property owner also appears to have defaulted on $13,406 owed to the Whispering Woods Community Association.
The association foreclosed on the condo last year, followed by a bank foreclosure in December, the newspaper reported.
[...]
After getting clearance from fire officials, federal firearms and explosives agents spent Friday afternoon searching the rubble for evidence in the case. Police spokesman Officer Chris Adams would not say if any weapons had been found.
The daylong standoff began Thursday morning after a man opened fire as authorities tried to serve the eviction notice.
At one point during the standoff, police broke the windows of the apartment with bean bag shots and fired flash-bang grenades and tear gas. Authorities evacuated nearby residents in the development of freestanding buildings, each divided into four apartments.
Around 9 p.m., six officers rushed toward the apartment, the Bee reported. Sharp bangs from concussive devices were heard for more than an hour, and officers used loudspeakers to communicate with the man to pick up the phone. No one came out.
As police shot the flash-bang grenades, they could see the apartment lights being turned on and off, confirming someone was inside, Adams said.
[...]
Source: Washington Post
Tuesday, April 17, 2012
Jon Stewart Exposes the Fraud of the Federal Reserve
Video Here: http://www.lewrockwell.com/blog/lewrw/archives/110029.html
April 15, 2012
Jon Stewart Exposes the Fraud of the Federal Reserve
A TV show segment is worth a million words. Stewart even mentions hyperinflation as a result of creating money out of thin air. Perhaps Stewart has finally gotten around to reading Murray Rothbard's What Has Government Done to Our Money. (I...don't think so—but I can dream, can't I?)
Monday, April 16, 2012
Tuesday, April 10, 2012
Enough Said "The Era Of Independent Central Banks Is Over"
http://www.zerohedge.com/news/era-independent-central-banks-over
The Era Of Independent Central Banks Is Over
Federal debt has expanded by $9.5 trillion - from $5.7 trillion in 2000 to $15.2 trillion at the end of last year and, as Neal Soss of Credit Suisse notes, is still growing over $1 trillion a year (or $5 billion per day). The state of fiscal sustainability, as explained in this compendium of slides, is perilous, but as Soss notes - interest expense did not go up because interest rates fell faster than debt went up. Looking ahead, he notes that political choice theory suggests that taxes can go up, but not a lot (even as the change-maker-in-chief presents his case) and at the same time an unprecedented aging (demographic) shock limits the ability to control expenditures. None of this is news to readers but the financial implication is critical: interest rates must be kept as low as possible to avoid explosive debt dynamics. As Soss concludes therefore, and something we have been clear about for a long time, the era of independent central banks is closing as those institutions revert to their foundational role as fiscal agents of the state.
The Fallacy Of US Fiscal Sustainability In 11 Quick and Easy Charts...
The Evolution of the Federal Budget in the 2000s
US Debt That Matters
US Interest Expense Outlays
Which Interest Rate To Use?
Contribution to Growth in Federal Outlays in the 2000s
US Federal Revenues to GDP (%)
US Federal Outlays to GDP (%)
US Federal Deficit to GDP (%)
Federal Debt Interest Expense
US Youth Dependency Ratio
US Old Age Dependency Ratio
Not a pretty picture for shared sacrifice, budgets, and the expectation of more QE as inevitable.
Source: Credit Suisse
The Evolution of the Federal Budget in the 2000s
US Debt That Matters
US Interest Expense Outlays
Which Interest Rate To Use?
Contribution to Growth in Federal Outlays in the 2000s
US Federal Revenues to GDP (%)
US Federal Outlays to GDP (%)
US Federal Deficit to GDP (%)
Federal Debt Interest Expense
US Youth Dependency Ratio
US Old Age Dependency Ratio
Not a pretty picture for shared sacrifice, budgets, and the expectation of more QE as inevitable.
Source: Credit Suisse
Leaked Video Shows US Contractors Randomly Killing Civilians
http://www.infowars.com/leaked-video-shows-us-contractors-randomly-killing-civilians/
Alexander Higgins
April 10, 2012
Employees of the US military contracting group are seen in new leaked video shooting their machine guns at random citizens while driving through the streets of Baghdad.
Sadly, when the US government finds the person who leaked these videos the whistleblower will suffer the same fate as Bradley Manning and be charged as an enemy combatant providing support for Al-Qaeda.
Employees of the US military contracting group Academi (formerly Xe, Blackwater USA and Blackwater Worldwide) are seen in new leaked video shooting their machine guns at random while driving through the streets of Baghdad, crashing into other cars and even running over a pedestrian without hesitation. Academi received a $250 million contract by the Obama administration to provide military services in Afghanistan.
Watch the videos:
http://harpers.org/archive/2012/04/hbc-90008515
What is Academi (aka Blackwater)?
http://en.wikipedia.org/wiki/Academi
THANKS TO http://www.youtube.com/user/TheDailyConversation FOR THE VIDEO
Alexander Higgins
April 10, 2012
Employees of the US military contracting group are seen in new leaked video shooting their machine guns at random citizens while driving through the streets of Baghdad.
Sadly, when the US government finds the person who leaked these videos the whistleblower will suffer the same fate as Bradley Manning and be charged as an enemy combatant providing support for Al-Qaeda.
Employees of the US military contracting group Academi (formerly Xe, Blackwater USA and Blackwater Worldwide) are seen in new leaked video shooting their machine guns at random while driving through the streets of Baghdad, crashing into other cars and even running over a pedestrian without hesitation. Academi received a $250 million contract by the Obama administration to provide military services in Afghanistan.
Watch the videos:
http://harpers.org/archive/2012/04/hbc-90008515
What is Academi (aka Blackwater)?
http://en.wikipedia.org/wiki/Academi
THANKS TO http://www.youtube.com/user/TheDailyConversation FOR THE VIDEO
Sunday, April 8, 2012
150 Years Of US Fiat
http://www.zerohedge.com/news/150-years-us-fiat
Submitted by Tyler Durden on 04/07/2012 17:48 -0400
5 days ago saw the 150th year anniversary of an event so historic that a very select few even noticed: the birth of US fiat. Bloomberg was one of the few who commemorated the birth of modern US currency: "On April 2, 1862, the first greenback left the U.S. Treasury, marking the start of a new era in the American monetary system.... The greenbacks were originally intended to be a temporary emergency-financing measure. Almost bankrupt, the Treasury needed money to pay suppliers and troops. The plan was to print a limited supply of United States notes to meet the crisis and then have people convert the currency into Treasury bonds. But United States notes grew in popularity and continued to circulate." The rest, as they say is history. In the intervening 150 years, the greenback saw major transformations: from being issued by the Treasury and backed by gold, it is now printed, mostly in electronic form, by an entity that in its own words, is "set up similarly to private corporations, but operated in the public interest." Of course, when said public interest is not the primary driver of operation, the entity, also known as the Federal Reserve is accountable to precisely nobody. Oh, and the fiat money, which is now just a balance sheet liability of a private corporation, and thus just a plug to the Fed's deficit monetization efforts, is no longer backed by anything besides the "full faith and credit" of a country that is forced to fund more than half of its spending through debt issuance than tax revenues.
More on the history of American fiat from Bloomberg:
So instead of real money, America has an impostor "which came to look almost identical to the United States note" with the full complicity of everyone in charge, just so that when needed, any and all untenable debt burdens can be inflated away. And while the latter is a topic of a whole different discussion, we present another chart which, unlike the 150th anniversary of fiat, should be something discussed far more broadly... Because in a fiat world superpower status is always relative.
5 days ago saw the 150th year anniversary of an event so historic that a very select few even noticed: the birth of US fiat. Bloomberg was one of the few who commemorated the birth of modern US currency: "On April 2, 1862, the first greenback left the U.S. Treasury, marking the start of a new era in the American monetary system.... The greenbacks were originally intended to be a temporary emergency-financing measure. Almost bankrupt, the Treasury needed money to pay suppliers and troops. The plan was to print a limited supply of United States notes to meet the crisis and then have people convert the currency into Treasury bonds. But United States notes grew in popularity and continued to circulate." The rest, as they say is history. In the intervening 150 years, the greenback saw major transformations: from being issued by the Treasury and backed by gold, it is now printed, mostly in electronic form, by an entity that in its own words, is "set up similarly to private corporations, but operated in the public interest." Of course, when said public interest is not the primary driver of operation, the entity, also known as the Federal Reserve is accountable to precisely nobody. Oh, and the fiat money, which is now just a balance sheet liability of a private corporation, and thus just a plug to the Fed's deficit monetization efforts, is no longer backed by anything besides the "full faith and credit" of a country that is forced to fund more than half of its spending through debt issuance than tax revenues.
More on the history of American fiat from Bloomberg:
At the start of the Civil War, the U.S. didn't have a national paper currency. Instead, the money supply consisted of U.S. coins and a collection of paper notes issued by private banks. Technically, the federal government began issuing its own paper currency in 1861. That year, the Lincoln administration issued $60 million in demand notes, a variant of a Treasury note that was redeemable "on demand" for gold coins at the Treasury or any sub-Treasury.
These notes were overshadowed in 1862 by the issue of $150 million in a new fiat currency officially known as United States notes and popularly known as greenbacks or legal tenders. By the end of the war, close to $450 million worth of greenbacks were in circulation.
The name greenbacks referred to the reverse of the notes, which were printed in green. The name legal-tender notes referred to the text that originally appeared on the back, which began, "This note is legal tender for all debts, public and private." This provision made the currency a valid form of payment on par with gold and silver, which was a very controversial action at the time. It made the United States note a fiat currency -- meaning its value was established by law alone and wasn't based on some other unit of value, such as gold, silver or land.
Many Americans during and after the Civil War believed the creation of a fiat currency was unconstitutional. The Constitution explicitly stated that only gold and silver could be considered legal tender. In 1871, in the case of Knox v. Lee, the Supreme Court settled the matter by declaring that making United States notes legal tender was indeed constitutional.
By this time, the greenback was at the center of a countrywide debate on monetary policy. When the post-Civil War economic boom ended in the panic and depression of 1873, many people, especially farmers, blamed the Treasury’s policy of contracting the currency -- that is, removing United States notes from circulation in an attempt to go back to the gold standard, which would require that a $1 note could be redeemed for $1 in gold.
As a consequence, there was a call for the expansion of United States note circulation or an inflation of the currency. This belief became joined with a political ideology that opposed big business and banking interests, resulting in the birth of the Greenback Party in 1874.
Opposing the Greenbackers were more conservative interests, sometimes known as "gold bugs,'' who found support in the Republican Party and in elements of the Democratic Party. Gold interests proved the stronger contestant in the debate and in 1878, the total circulation of United States notes was fixed at a little over $346 million and the notes eventually became redeemable in gold (at least until 1933, when this provision was removed).
During the 20th century, United States notes became ever less important in the nation’s money supply, though Congress supported their continued circulation. They were increasingly replaced by currency issued by the Federal Reserve System, which came to look almost identical to the United States note. The Federal Reserve note thus became the new greenback.
In 1966, Congress allowed the Treasury to start removing United States notes from circulation. The last delivery of the notes by the Bureau of Engraving and Printing to the Treasury was made in 1971. In 1994, the Riegle Community Development and Regulatory Improvement Act eliminated the issuance of the notes altogether.
So instead of real money, America has an impostor "which came to look almost identical to the United States note" with the full complicity of everyone in charge, just so that when needed, any and all untenable debt burdens can be inflated away. And while the latter is a topic of a whole different discussion, we present another chart which, unlike the 150th anniversary of fiat, should be something discussed far more broadly... Because in a fiat world superpower status is always relative.
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