News stories for Thursday, November 11, 2010 Part 3

S&P Warns On U.S. AAA Rating -- Follow The Deficit Commission Or Suffer A Downgrade

A debt-rating showdown is on the horizon.

Gerald Celente: The Coming Crash

Shepard Ambellas from The Intel Hub got an exclusive interview with Trends Forecaster and economist Gerald Celente. Some startling statements were made on that August day. However now it looks as if Gerald is on track once again.

The interview took a twist when Gerald started talking about terror attacks, and even got into BP.

When Gerald was asked about the forecast for what we are looking at in the next six months he said very sternly, very decisively “CRASH! – Everybody will know it by the time the clock strikes 2011?

Courts Helping Banks Screw Over Homeowners

The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with a specific mandate to rubber-stamp the legally dicey foreclosures by corporate mortgage pushers like Deutsche Bank and JP Morgan Chase. This "rocket docket," as it is called in town, is presided over by retired judges who seem to have no clue about the insanely complex financial instruments they are ruling on — securitized mortgages and laby­rinthine derivative deals of a type that didn't even exist when most of them were active members of the bench. Their stated mission isn't to decide right and wrong, but to clear cases and blast human beings out of their homes with ultimate velocity.

When Caught, Just Lie Some More!

Bank of America appears to have improved the state of the art in the creative foreclosure procedures department. I started hearing a few months ago about a sudden and suspicious increase in the number of foreclosures Bank of America was making in its own name. BofA was in effect saying that it owned these loans and had never securitized them. That seemed questionable, since the bulk of Bank of America’s mortgages had been originated by Countrywide, and Countrywide has said in its SEC filings that it securitized 96% of them.

It Is Time to Pull the Rug Out From Under JPM, BAC, C, and all Banksters. Foreclosuregate!

It is time that notaries who are notarizing fraudulent documents that allow foreclosures to proceed, be prosecuted. It is time to resolve these banks and kick these banksters out and not allow them to ever do banking in the US again.

Bank of America Urges Dismissing Robo-Signing Suit

Bank of America Corp has urged a federal judge to throw out a racketeering lawsuit over its alleged use of "robo-signers" in foreclosures.

The largest U.S. bank said the Indiana plaintiffs, who lost their home to foreclosure in 2009, failed to show they were harmed by its alleged practice of routinely submitting perjured affidavits, given they might have lost their home anyway.

Request for foreclosure probe 3 years ago thwarted

As foreclosures began to mount across the country three years ago, a group of state bank regulators suspected that some borrowers might be losing their homes unnecessarily. So the state officials asked the biggest national banks for details about their foreclosure operations.

When two banks -- J.P. Morgan Chase and Wells Fargo -- declined to cooperate, the state officials asked the banks' federal regulator for help, according to a letter they sent. But the Office of the Comptroller of the Currency, which oversees national banks, denied the states' request, saying the firms should answer only to inquiries from federal officials.

Webmaster's Commentary:

I guess this is why the government is wagging the Chinese sub at us all; three years ago when state officials wanted to investigate whether the sudden surge of foreclosures might be the result of fraud, corruption, or criminality, the Federal Government BLOCKED THEM!

CONFIRMED: US NAVY WAS TESTING MISSILE LAUNCHES OFF THE COAST OF CALIFORNIA

From page 55.
"434/10(18).
EASTERN NORTH PACIFIC.
CALIFORNIA.
MISSILES.
1. INTERMITTENT MISSILE FIRING OPERATIONS 0001Z TO 2359Z
DAILY MONDAY THRU SUNDAY IN THE NAVAL AIR WARFARE CENTER
SEA RANGE. THE MAJORITY OF MISSILE FIRINGS TAKE PLACE
1400Z TO 2359Z AND 0001Z TO 0200Z DAILY MONDAY THRU FRIDAY
IN AREA BOUND BY
...
3. VESSELS INBOUND AND OUTBOUND FOR SOUTHERN CALIFORNIA PORTS
WILL CREATE THE LEAST INTERFERENCE TO FIRING OPERATIONS
DURING THE SPECIFIC PERIODS, AS WELL AS ENHANCE THE VESSEL'S SAFETY WHEN PASSING THROUGH THE VICINITY OF THE SEA RANGE
IF THEY WILL TRANSIT VIA THE SANTA BARBARA CHANNEL AND WITHIN
NINE MILES OFFSHORE VICINITY OF POINT MUGU OR CROSS THE AREA
SOUTHWEST OF SAN NICOLAS ISLAND BETWEEN SUNSET AND SUNRISE.

Webmaster's Commentary:

BUMP BACK TO THE TOP

According to this official US Navy document the US Navy is indeed conducting live fire testing of missiles off the coast of California. This is a repeat of the situation with TWA 800 in which the US Navy at first denied knowing what missile it was that witnesses reported seeing only to have to admit to the ongoing tests of Aegis-CEC when the NOTAM surfaced days later.

Now, with this confirmation, I want to address this rumor being seeded all over the blogs (sadly including this one) about a Chinese nuclear submarine. This story tracks back to only one dubious source and the story is that a Chinese Jin class nuclear ballistic missile submarine launched the "Mystery Missile" as a show of force to the United States.

This rumor is a very obvious and heavy-handed bit of China bashing, and needs to be dealt with right now.

First off, while the Jin is much quieter than its predecessor the Xia (the running joke here in Hawaii is that you can drop a hydrophone off Kauai and hear the Xia subs idling at their base in Jianggezhuang), the Jin is far from the silent machines that the Ohio class subs are. And like all nuclear boats, the Jin leaves a thermal trace on the surface of the water in its wake that is detectable by satellite, as is the surface disturbance created by its submerged passing. Indeed, the ability to detect and track submerged submarines b y their surface wakes using synthetic aperture radar of the ocean surface was discovered back with SeaSat, which is one reason why the SOSUS networks have been turned over to the cetologists to track whale migrations.

Second, the Jin would not need to approach the United States to make their point. The Julang 2 missile launched from the Jin has an 8000 KM range.

Third, and most importantly, why would China do such a stupid thing? They have the upper hand at the G20. They do not need to show us a missile; they can destroy the United States with the IOUs. Provoking a war with China plays to the US' advantage as it gives the US Government an excuse not to honor their debts.

Fourth, we know from the NOTAM that the US Navy was in the area, which makes the possibility of an undetected approach even more unbelievable. Plus there is the inevitable fact that had the source of the Missile been anyone other than the US Navy, the Navy would have given chase to find the launch platform. It's the old "dog did not bark" logic. The Navy did not act like the source of the missile was unknown to them.

Personally I think this "Chinese sub" story is being planted to give the US Government a scapegoat when they come back from the G20 with their tails between their legs, and any such stories about Chinese sub-launched missiles posted by members not only do not reflect the editorial position of WRH but will be deleted as I see them!

China Rejects U.S. Medicine

"Washington should not force others to take medicine for it's own disease."

Moody Raises China's Bond Rating

Specter of trade war looms as G-20 nations gather

The world's economies stand on the brink of a trade war as leaders of rich and emerging nations gather in Seoul. A dispute over whether China and the United States are manipulating their currencies is threatening to resurrect destructive protectionist policies like those that worsened the Great Depression.

Analysis: Obama Runs Into Limits of His Power

China's take on the G-20 summit in Seoul.

BP Oil Slams Florida

All 40 scientists agree at meeting: “Fish in the Gulf of Mexico will continue to get sick, die or fail to reproduce as a result” of oil — What about the people?

GORDON DUFF: IN MOTION: THE PLOT TO DESTROY THE UNITED STATES

Plans are in motion for a “false flag” attack on America. Iran will be blamed, everyone knows that and Iran will be totally innocent. This is the last thing Iran would ever want. The most likely scenario is a nuclear attack. Two bombs are missing, bombs built by Israel in South Africa and lost long ago. These were supposedly Saddam’s bombs. Now we are told Iran has them. Israel has had them all along and the fear, they may be inside the United States already.

The Israeli game with these weapons is one of the worst kept secrets in the world and has already cost the deaths of many. It will take nothing short of the detonation of one of this Hiroshima sized Israeli nukes to push America into Israel’s war with Iran, much as hunting for these nukes which Israel informed President Bush were in Iraq, led “the decider” to making one of the many blunders of his career. Our next 9/11 will be nuclear.

140,000 FLORIDIANS LOSING FEDERAL UNEMPLOYMENT BENEFITS ON DEC. 11TH

Three federally funded unemployment programs are ending soon.

The programs are the additional compensation pay program, the emergency pay, and extended benefits.

Unless lawmakers intervene with another emergency package, the federal benefits will begin to expire starting Nov. 30 through Dec. 11.

Almost 3 million Americans, including 140,000 Floridians, are losing federal benefits.

For some people searching for work, these benefits are their last safety net...

Matt Taibbi: Courts Helping Banks Screw Over Homeowners

This is the dirty secret of the rocket docket: The whole system is set up to enable lenders to commit fraud over and over again, until they figure out a way to reduce the stink enough so some judge like Soud can sign off on the scam. "If the court finds for the defendant, the plaintiffs just refile," says Parker, the local attorney. "The only way for the caseload to get reduced is to give it to the plaintiff. The entire process is designed with that result in mind."

More federal workers' pay tops $150,000 / Tenfold increase in the past five years!!

By Dennis Cauchon, USA TODAY
The number of federal workers earning $150,000 or more a year has soared tenfold in the past five years and doubled since President Obama took office, a USA TODAY analysis finds.
The fast-growing pay of federal employees has captured the attention of fiscally conservative Republicans who won control of the U.S. House of Representatives in last week's elections. Already, some lawmakers are planning to use the lame-duck session that starts Monday to challenge the president's plan to give a 1.4% across-the-board pay raise to 2.1 million federal workers.

FEDERAL WORKERS: Earning double their private counterparts

Stewardesses Send Message to TSA

Stewardesses Send Message to TSA
Posted by Lew Rockwell on November 10, 2010 03:26 PM
This is excellent news. Stewardesses say to TSA: Keep your hands off my private parts. Pilots are saying the same, and so are many passengers. The State has, I think and hope, finally gone too far with its genital gropes and nuclear naked-photos. Even the MSM are starting to cover this police-state scandal, though not truthfully. Airports are today microcosms of what the State wants all of society to be. That is, they see taxpayers as cattle, and expect us to shut up and obey their thugs in blue costume. Well, maybe there’s a stampede coming.
http://www.abc15.com/dpp/lifestyle/travel/flight-attendants-union-upse...

Jim Rogers: "The World Doesn't Have Enough Trees For Bernanke To Print His Way Out Of The Problem, Gold Could Exceed $2,000"

Excellent Video - Rogers starts out hot

* "They can't quintuple the national debt, AGAIN."

Rogers says he's still waiting for the right time to short U.S. Treasuries.

BUSTED: Watch Leading House Republican Paul Ryan Begging Congress To Vote For The Bailout

"My fellow colleagues, we've heard a lot of non-sense and naysaying this morning, some of it hard to believe, but the pile of bullshit I'm about to deliver, is going to be massive."

VIDEO - Barney Frank Is Ambushed, Asked About Banking, Brothels & Fannie Mae

Video - Runs 3 Minutes

The interviewer accosts Barney Frank in the basement hallways of Congress and asks for advice on how to run a brothel.

This one is classic. Lots of very honest Fannie & Freddie discussion as well.

Declassified: Massive Israeli manipulation of US media exposed