Soros Latest Prediction

US Recovery Is Far Off, Banks Are 'Basically Insolvent': Soros
By: Reuters | 06 Apr 2009 | 04:49 PM ET

Soros also said the U.S. dollar is under selling pressure and may eventually be replaced as a world reserve currency, possibly by the IMF's Special Drawing Rights, a synthetic currency basket comprised of dollars, euros, yen and sterling.

"I think the dollar is now under question and I think the system will need to be reformed, so that the United States will be subject to the same discipline as is imposed on other countries," said Soros, whose famous bet against the British pound earned his Quantum Fund $1 billion in 1992. "Being the main issuer of international currency, we have been exempt and we have abused that because we have effectively consumed 6.5 percent more than we have produced. That is now coming to an end."

“global plan for recovery and reform,”

Obama Endorses Soros Plan to Loot America

AIM Column | By Cliff Kincaid | April 2, 2009

By embracing the “global plan for recovery and reform,” which is how it was officially described, Obama explicitly endorsed International Monetary Fund (IMF) surveillance of the U.S. economy, creation of a global “Financial Stability Board,” the expanded use of a new global currency called Special Drawing Rights, a new global warming treaty, and costly fulfillment of the United Nations Millennium Development Goals (MDGs). This is in addition to the explicit and reported commitment of over $1 trillion in additional taxpayer money to the IMF and the World Bank.

The Special Drawing Rights proposal, which is a vehicle for further U.S. foreign aid to the rest of the world, was the brainchild of billionaire George Soros, who told CNBC’s Maria Bartiromo that the G 20 conference was a “success.”

Is this the Change you Libs really want?

Supporting Links:

	Issuing Special Drawing Rights (SDR)

ILO.Org

Where are the Responsible Senate Democrats?

For those of you that believed that the Senate would stop the destruction of America you can pay up now.

Democrats Pass

S. Con. Res. 13: An original concurrent resolution setting forth the congressional budget for the...

55 (0 Republicans) For to 43 (2 Democrats) Against

Ben Nelson of NE and Evan Bayh of IN are the only two "Bipartisan" votes.

Putting the Proverbial Fox in to Guard the Henhouse

Geithner's Dirty Little Secret

Asia Times

The "dirty little secret" that Geithner is going to great degrees to obscure from the public is very simple. There are only at most perhaps five US banks that are the source of the toxic poison causing such dislocation in the world financial system. What Geithner is desperately trying to protect is that reality. The heart of the present problem, and the reason ordinary loan losses are not the problem as in prior bank crises, is a variety of exotic financial derivatives, most especially credit default swaps.
Today, five US banks, according to data in the just-released Federal Office of Comptroller of the Currency's Quarterly Report on Bank Trading and Derivatives Activity, hold 96% of all US bank derivatives positions in terms of nominal values, and an eye-popping 81% of the total net credit risk exposure in event of default....

The top three are, in declining order of importance: JPMorgan Chase, which holds a staggering $88 trillion in derivatives; Bank of America with $38 trillion, and Citibank with $32 trillion. Number four in the derivatives sweepstakes is Goldman Sachs, with a mere $30 trillion in derivatives; number five, the merged Wells Fargo-Wachovia Bank, drops dramatically in size to $5 trillion. Number six, Britain's HSBC Bank USA, has $3.7 trillion.

After that the size of US bank exposure to these explosive off-balance-sheet unregulated derivative obligations falls off dramatically. Continuing to pour taxpayer money into these five banks without changing their operating system, is tantamount to treating an alcoholic with unlimited free booze.

You might want to read the whole article to see if you agree with the conclusion.

It's called, I believe, Serfdom

April 02, 2009

The Soros Doctrine in Obama Foreign Policy
By Kyle-Anne Shiver

At this point, a mere 2 months into the Presidency of Barack Obama, it seems painfully clear that we have not only elected a deceitful knave, but one intent on the complete dismantling of our own defenses, with seemingly very little concern for the consequences.

The icing on this poisonous cake would seem to be that we ourselves will pay for our own destruction.

Boiled down to the dry pot, we must conclude that President Obama, his entire Administration, the Democratic Congress and their favorite benefactor, George Soros, have an evolved form of slavery in mind. It's a type of slavery whereby the productive class is held shackled to the political class's outlandish worldview that there isn't a single problem under the sun, which cannot be swiftly solved with our money, produced by the sweat of our collective brow. They consider our wages and the wages of our children and grandchildren to be their own property, to be squandered in whatever manner they see fit.

And I believe this has a name, even though we modern folks have long forgotten not only its name, but the centuries of toil and buckets of blood that went into dismantling the system than enthroned it. It's called, I believe, serfdom.

How ironic, 80% of those with the most slave history and knowledge of slavery support the party whose policies and ideals that will return them to slavery.

Statesmen can Stop the Spending, but Liberals can"t

April 1, 2009

House Republican Budget Would Confront Hard Choices and Rein in Budget Deficits

by Brian M. Riedl

WebMemo #2377 of The Heritage Foundation

Answering President Obama's challenge for critics to present alternatives, the House Republicans have offered a responsible budget blueprint that:

• Borrows $3.6 trillion less than the President's budget;
• Would create $23,000 less debt per household than the President's budget;
• Keeps federal spending just above 20 percent of the gross domestic product (GDP)—the same level as before the recession;
• Avoids all tax increases and even simplifies the overly complex tax code;
• Includes a temporary moratorium on earmarks; and
• Begins reforming the unsustainable costs of Social Security, Medicare, and Medicaid.[1]

How many Liberal Statesmen will vote for this budget? 0?

Administration and Media Gun Chrisis

The Myth of 90 Percent: Only a Small Fraction of Guns in Mexico Come From U.S.

While 90 percent of the guns traced to the U.S. actually originated in the United States, the percent traced to the U.S. is only about 17 percent of the total number of guns reaching Mexico.

By William La Jeunesse and Maxim Lott

FOXNews.com

Thursday, April 02, 2009

There's just one problem with the 90 percent "statistic" and it's a big one:

It's just not true.

In fact, it's not even close. By all accounts, it's probably around 17 percent.

Beware of Obama Administration. Beware of Big "Go Along" Media.