Tuesday, October 18, 2011

Five Banks Account For 96% Of $250 Trillion In Outstanding US Derivative Exposure


The Fat Lady is beginning to sing; Obama, Bernake, Geitner responsible for world financial meltdown

Global Research
By Tyler Durdni
10/17/2011

The latest quarterly report from the Office Of the Currency Comptroller is out and as usual it presents in a crisp, clear and very much glaring format the fact that the top 4 banks in the US now account for a massively disproportionate amount of the derivative risk in the financial system. 

Criminally stupid, headed for jail or worse:  Geitner
Specifically, of the $250 trillion in gross notional amount of derivative contracts outstanding (consisting of Interest Rate, FX, Equity Contracts, Commodity and CDS) among the Top 25 commercial banks (a number that swells to $333 trillion when looking at the Top 25 Bank Holding Companies), a mere 5 banks (and really 4) account for 95.9% of all derivative exposure (HSBC replaced Wells as the Top 5th bank, which at $3.9 trillion in derivative exposure is a distant place from #4 Goldman with $47.7 trillion). The top 4 banks: JPM with $78.1 trillion in exposure, Citi with $56 trillion, Bank of America with $53 trillion and Goldman with $48 trillion, account for 94.4% of total exposure. As historically has been the case, the bulk of consolidated exposure is in Interest Rate swaps ($204.6 trillion), followed by FX ($26.5TR), CDS ($15.2 trillion), and Equity and Commodity with $1.6 and $1.4 trillion, respectively. And that's your definition of Too Big To Fail right there: the biggest banks are not only getting bigger, but their risk exposure is now at a new all time high and up $5.3 trillion from Q1 as they have to risk ever more in the derivatives market to generate that incremental penny of return.



    At this point the economist PhD readers will scream: "this is total BS - after all you have bilateral netting which eliminates net bank exposure almost entirely." True: that is precisely what the OCC will say too. As the chart below shows, according to the chief regulator of the derivative space in Q2 netting benefits amounted to an almost record 90.8% of gross exposure, so while seemingly massive, those XXX trillion numbers are really quite, quite small... Right?

    ...Wrong. The problem with bilateral netting is that it is based on one massively flawed assumption, namely that in an orderly collapse all derivative contracts will be honored by the issuing bank (in this case the company that has sold the protection, and which the buyer of protection hopes will offset the protection it in turn has sold). The best example of how the flaw behind bilateral netting almost destroyed the system is AIG: the insurance company was hours away from making trillions of derivative contracts worthless if it were to implode, leaving all those who had bought protection from the firm worthless, a contingency only Goldman hedged by buying protection on AIG. And while the argument can further be extended that in bankruptcy a perfectly netted bankrupt entity would make someone else whole on claims they have written, this is not true, as the bankrupt estate will pursue 100 cent recovery on its claims even under Chapter 11, while claims the estate had written end up as General Unsecured Claims which as Lehman has demonstrated will collect 20 cents on the dollar if they are lucky.


 The point of this detour being that if any of these four banks fails, the repercussions would be disastrous. And no, Frank Dodd's bank "resolution" provision would do absolutely nothing to prevent an epic systemic collapse.

...

    Lastly, and tangentially on a topic that recently has gotten much prominent attention in the media, we present the exposure by product for the biggest commercial banks. Of particular note is that while virtually every single bank has a preponderance of its derivative exposure in the form of plain vanilla IR swaps (on average accounting for more than 80% of total), Morgan Stanley, and specifically its Utah-based commercial bank Morgan Stanley Bank NA, has almost exclusively all of its exposure tied in with the far riskier FX contracts, or 98.3% of the total $1.793 trillion. For a bank with no deposit buffer, and which has massive exposure to European banks regardless of how hard management and various other banks scramble to defend Morgan Stanley, the fact that it has such an abnormal amount of exposure (but, but, it is "bilaterally netted" we can just hear Dick Bove screaming on Monday) to the ridiculously volatile FX space should perhaps raise some further eyebrows...




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How To Prepare For Civil Unrest, Emergencies, Disasters


"Better to have and not need, than need and not have..." - USMC slang

Pakalert
10/17/2011

Shortly after Hurricane Katrina struck the Louisiana coast, reports out of New Orleans on September 1st stated that victims of the disaster were being raped and beaten and that fights and fires were out of control, leaving corpses laying in the open as the city descended into anarchy. Emergency responders in the New Orleans area were overwhelmed, and as a result their response time was lapsed.

Completely unprepared:  New Orleans for Katrina
A “bug in” scenario may be our only choice after a disaster strikes and we must prepare not only for our basic needs, but also for our safety. Since the grid may go down during a disaster, each household should prepare for crime. Looting and home invasions will more than likely be at the forefront of these crime waves and a defensible home will help your family stay safe.

    Many of us easily relate to the idea that our home security needs to be beefed up. In fact, some of the homes we live in are defensive nightmares given the location, structural design, neighborhood or city we may live in. Because the home will be more vulnerable when the grid goes down (due to electrical alarm systems not working, lapsed emergency response time, etc), consider having some alternative security features for inside the home. A barking dog would be a great detection system for anyone trying to break in. And, if the pet is trained properly, could assist in protecting the family.

    In an emergency where civil unrest can be a problematic issue, criminals look for accessible targets. They will concentrate on vulnerable “easy-pickings” and bypass the more secured areas. This was seen during the Rodney King Trial Verdict riots in Los Angeles and it’s suburbs, the only structures that were spared from active looting by large gangs were some stores owned by armed Korean Americans.

Corruption, malfeasance, criminality in government caused this

Security is an important preparedness measure to keep in mind when investing in your emergency supplies. Bulking up your home security features for the outside can be your first line of defense in preventing any criminals from trying to enter your home.

    Given that our financial situations are each unique, I am not suggesting that you go out and purchase every item on this list. However, if you are able to invest in some security items for the home, I suggest you invest in as much as you can.

 

Preps To Buy:

  • Reinforced doors and locks. (There is only 1 ” of wood protecting you in normal door locks.)
  • Barred windows or European-style security/storm shutters.
  • Place thorny bushes or plants around windows or near vulnerable areas of the home.
  • If possible, create a barrier from approaching vehicles.
  • Put a peep hole in the door.
  • Add a bolt and chain to the door.
  • Infrared (IR) floodlights to illuminate the property (These can be motion-sensor activated).
  • Solar garden lighting can also be an inexpensive way to illuminate areas outside the home.
  • Fence the entire property, if it is not done so already.
  • A gate at the front of the driveway that has spikes at the top to prevent someone from jumping over the fence.
  • Cameras placed strategically around the home and near the entry points of the home can also deflect an intruder.
  • Create a safe room or vault to where a family can go to evade their attackers.
  • Buy a gun and know how to use it.

A little humor helps:  from the biggest idiot in the world
 Action Items:
  1. Walk around the perimeter of your home and see where the vulnerable areas are.
  2. Make necessary changes to the outside of the home by bulking up on security layers.
  3. Contact a security expert or friend in the police department and see if they can provide you with additional advice.
  4. If it is a good fit with your family, look into purchasing a firearm or going to a concealed handgun course.
  5. Create a neighborhood watch program.
Get Prepped One Week at a Time with our 52 Weeks to Preparedness Series.



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Analysis: Iraq U.S. troop deal drifts over immunity despite CIA bombings


Despite CIA bombings in Baghdad, Iraq remains steadfast on troop removal, voiding of immunity for troops; Obama still continues to LIE about U.S. casualty numbers

Reuters
By Patrick Markey
10/16/2011

Just weeks before U.S. troops plan to leave Iraq, the country's political elite and Washington are at odds over whether American soldiers stay as trainers: Baghdad rejects any legal immunity for U.S. soldiers and Washington says that means no deal.

     Without a shift in Iraq's position, any accord will likely now fall somewhere in between as Iraq's political stalemate, U.S. domestic opposition to the war and a lack of time force a deal that leaves a just few hundred American soldiers in Iraq.

Exact number of Iraq casualties still unknown
Iraqi Prime Minister Nuri al-Maliki last week said U.S. troops could stay on as part of the small NATO mission or as part of an already existing U.S. embassy military training program which would give American troops legal protections.

The country's political leadership gave Maliki the green light to negotiate, but without immunity -- a sensitive matter that would have required tricky horse-trading within his fragile cross-sectarian government and possible defeat in parliament.

     But Washington sounds skittish on the options, insisting U.S. troops would need full protections or at least assurances that whatever Iraq offers would bring the same legal cover.

    "I can't see the United States agreeing to blanket Iraqi jurisdiction," said Stephen Biddle at the Council on Foreign Relations. "If it is more than just brinkmanship and if they are going to insist on this, then I think the United States will decline to stay at all."

     More than eight years after the U.S.-led invasion that ousted Saddam Hussein, around 41,000 troops are in Iraq mostly advising Iraqi forces since ending combat operations last year.

     While violence has fallen since the sectarian slaughter in 2006-2007, Iraq still suffers daily attacks from a stubborn insurgency allied with al Qaeda and from Shi'ite militia.

His Holiness Muqtada al-Sadr
In private some Iraqi leaders acknowledge they would like a U.S. troop presence as a guarantee in a country where sectarian tensions still simmer and Iraqi Arabs and Kurds are in dispute over who controls oil-rich areas in the north of Iraq.

Only anti-U.S. Shi'ite cleric Moqtada al-Sadr openly opposes a continued U.S. presence. His militia once battled U.S. troops, but he is now a key political ally for Maliki. His opposition to U.S. troops complicates the Iraqi leader's position.

 Maliki says Iraq needs fewer than the 3,400 troops U.S. officials requested. But his alternatives leave little room for Washington.

     The embassy's Office of Security Cooperation-Iraq or OSC-I already has trainers covered by diplomatic immunity as part of the State Department. Attaching more uniformed officers maybe the most viable option, but numbers would likely be limited.

     "Under this agreement it could be just 200, or 300," said Iraqi lawmaker Sami al-Askari, a Maliki ally. "They have no option. The alternative is for them to leave altogether."

SENSITIVE ISSUE

     Immunity is a sensitive issue for many Iraqis who remember abuses committed by U.S. forces and contractors during the worst years of the war. U.S. soldiers in other countries also have the kind of legal protections Washington wants in Iraq.

Iraqis say no to further immunity for U.S. forces
Under the current deal, U.S. soldiers come under U.S. jurisdiction for certain crimes committed on duty.

Bringing U.S. troops under the umbrella of the small NATO training mission in Iraq could also provide Americans with legal protections. But that option brings its own problems.

    NATO has fewer than 200 staff involved in training such as police work and logistics in the mission set to end in 2013. Iraqi lawmakers are now discussing a bill to expand the NATO program and allow some U.S. troops to stay.

     But that may not be enough for Washington and it could face resistance from NATO countries worried it would attract hostility against U.S. troops to the more low-key NATO operation.

    "Lots of people here are likely to find that even less reassuring than if our military folks were part of the U.S. diplomatic mission," David Mack, Middle East Institute Scholar and former U.S. ambassador.

POLITICAL "DRIFT"


     Iraqi and U.S. officials say Iraq's armed forces are more capable now of containing the country's stubborn insurgency. But they acknowledge their military still needs training in areas such as air defense, logistics and intelligence gathering.

U.S. casualties continue to rise again
Even without military trainers, hundreds of American civilian contractors will be going to Iraq to help Iraqi forces train up on hardware such as F-16 fighter jets.

Some in Washington see a strong U.S. presence in Iraq as essential for stability and as a buffer against Iran's influence. Defense hawks such as Senator John McCain say more than 10,000 U.S. troops may be needed in Iraq.

     But a shift in Baghdad's position now looks difficult. Iraq's political process is already mired in squabbling among Shi'ite, Sunni and Kurdish blocs that make up the power-sharing government.

     "The risk is that you are at a tipping point where we are at the withdrawal date and they will negotiate a few trainers and that is all there will be," one Western diplomat said. "No one has the political courage to grip this and it will just drift."

     Still, when the United States and Iraq negotiated their 2008 security agreement, talks dragged for almost a year. Iraqi sovereignty, immunity and a date for withdrawal complicated negotiations before the final security agreement was signed.

     "U.S. troops will almost certainly stay," said Gala Riani at IHS Global Insight. "But the technicalities are still important for reassuring the Iraqi public and critical parties."


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Iran and Obama's Islands of Instability


CIA sponsored assassination plot showing cracks; brazen CIA agents blatantly prance in public, as if safe from retribution

World News
By Dallas Darling
10/17/2011

Just months before hundreds of thousands of Iranians toppled the U.S.-backed Shah of Iran, President Jimmy Carter was in Iran toasting and praising him. According to Carter, the Shah was a great leader and had established "an island of stability" in a "troubled" region of the world. "To you, Your Majesty," proclaimed Carter, "the cause of human rights is one that also shared deeply by our people and by the leaders of our two nations...There is no leader with whom I have a deeper sense of personal friendship and gratitude." While Carter continued to dine with the Shah of Iran, enjoying the most exquisite foods that were washed down with 25,000 bottles of the Shah's vintage Bordeaux,(1) he failed to notice thousands of Iranian protesters nearby being beaten and clubbed by Iran's CIA-trained and armed police forces. In the morning on the way to the airport, Carter was again oblivious to thousands of young Iranians pelting the army with rocks, along with protests that had broken out across the nation. Neither was he fully aware of the CIA's tortuous SAVAK and its brutalities against innocent Iranians.

Taking  no shit from Obama or CIA:  Iran's Ahmadinejad
Instead of campaigning on "the audacity of hope," Presdient Barack Obama should have campaigned with the promise and the audacity to critique, to evaluate, to assess, and to be more objective regarding U.S. intelligence and sting operations. Much like Carter's presidency, Obama's presidency, his executive role, is an island of instability. It is always wavering and extremely malleable due to rogue groups and agents, powers that are beyond his control. This was clearly evident when Obama announced the capture of a used-car dealer from Corpus Christi, Texas, claiming he was attempting to hatch a plot with Mexican drug lords to assassinate Saudi Arabia's ambassador, Adel Jubeir. While practical intelligence gatherers and common sense experts have denounced such a convoluted and implausible scheme, Obama and his administration are using the plot to threaten Iran. Phrases like, "Iran needs to be punished" and "all options are on the table including military operations," will only escalate Obama's island of instability, or his presidency. It will also escalate islands of instability in Iraq, Afghanistan and Saudi Arabia.

    Such islands of instability, created by unseen forces using U.S. presidents and their volatile role as Commander-in-Chief, are not new. By the end of the Korean War, organizations like the CIA, National Security Council (NSC), and National Intelligence Estimate (NIE) were given blank checks to pursue military-like covert operations around the world. With tens of thousands of contract personnel and billions of dollars, such agencies acted outside of Executive and Congressional oversight. Even the main purpose of these clandestine organizations, to provide the president and Congress with objective information about events abroad, changed. Secret brain trusts within the CIA and NSC and NIE, which included right-wing ideologues and militant intellectuals, have wanted to maintain U.S. militarism around the world and spread American hegemony. These right-wing corps, consisting of ex-U.S. military men, retired cold-warriors, and reactionary ideologues,(2) have also worked for U.S. defense industries and oil cartels. Intelligence gathering was seldom objective or accurate. Sting operations were often faulty and used for propaganda.

Carter's love-fest with Shah left bad taste in Iranians' mouths
Obama and his administration should recall how in 1953, rioting in the streets of Tehran ended the democratic and socialist-leaning government of Prime Minister Mohammed Mosaddeq. But this outbreak of government-toppling rioting was bought and paid for by a secret conservative task force in the CIA. Funded by Standard Oil, Mobil, Texaco, and the British oil giant BP, CIA ideologues paid millions of dollars in cash to Iranian protesters. This privatized and rogue corps then supplied weapons and military vehicles to topple Iran's popular leader who wanted to merely nationalize colonialist oil cartels, something Iranians have never forgotten. While these intelligence organizations, including their gathering capabilities and their dissemination of information for presidential reports, have often obliged U.S. oil and weapons cartels, they have also become highly involved in domestic intelligence activities and counter-intelligence operations. Through illegal mail openings, electronic surveillances, false arrests and imprisonments, and propagating false information, these clandestine groups have produced many islands of instability.

    Still yet, these right-wing cold-warriors and ideologues have initiated assassination attempts against domestic and foreign individuals deemed as threats. Because of perpetual misinformation and fear and the continual goal of military and economic global domination, not to mention dozens of islands of instability around the world that are now occupied by U.S. military personnel, America's civilian-oriented presidency has been replaced by a repressive military dictatorship. And the United States of America and its democratic institutions have been manipulated into embracing fascism without even realizing it. Obama and his administration should stop with their war of words against Iran. He should instead address his own island of instability caused by cold-warrior rogue agencies. Obama should also begin governing with the audacity to be more critical and analytical regarding the CIA, NSC, NIE and numerous oil and defense cartels, all of which have created islands of instability across America. Overthrowing governments and funding coups and preemptive wars are difficult to reconcile with liberty and justice for all.

    Meanwhile, Obama's administration and the American people should guard against turning Iran into another island of instability, like the one that occurred in 1953.

    Dallas Darling (darling@wn.com)

   Dallas Darling is the author of Politics 501: An A-Z Reading on Conscientious Political Thought and Action, Some Nations Above God: 52 Weekly Reflections On Modern-Day Imperialism, Militarism, And Consumerism in the Context of John's Apocalyptic Vision, and The Other Side Of Christianity: Reflections on Faith, Politics, Spirituality, History, and Peace. He is a correspondent for www.worldnews.com.

    (1) Smith, Michael K. Portraits of Empire: Unmasking Imperial Illusions from the "American Century" to the "War on Terror." Monroe, Maine: Common Courage Press, 2003., p. 196.

    (2) Fitzgerald, Paul and Elizabeth Gould. Invisible History: Afghanistan's Untold Story. San Francisco, California: City Lights Books., p. 140.
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The Unthinkable Is Poised to Happen, Economist Warns: Aftershock Survival Summit Predicts the Unthinkable; Shocking Poll Results


The gig is up; Obama/Fed cannot hide it anymore; Americans:  Brace Yourselves, we have been robbed, sold down the river


MONEYNEWS
By Karrina Turner
10/17/2011

The Aftershock Survival Summit is a gripping, no-nonsense presentation that’s quickly becoming a financial beacon in an economic tsunami.

     Featuring an exclusive interview with famed economist and best-selling author Robert Wiedemer, this disturbing presentation exposes harsh economic truths along with a dire financial warning — a prophetic message that’s spreading across America like wildfire.
 
The future of America - barring another revolution
But it’s not just the grim predictions that are causing the sensation; rather, it’s the comprehensive blueprint for economic survival that’s really commanding global attention. 
 
It offers realistic, step-by-step solutions that the average hard-working American can easily follow; millions have already heeded its warnings and are rapidly sharing the Aftershock Survival Summit throughout the Internet. To see it for yourself, simply click here.

     The overwhelming amount of feedback to publicize the presentation, initially screened for a private audience, came with consequences as various online networks repeatedly shut it down and affiliates refused to house the content.

     “People were sitting up and taking notice, and they begged us to make the Aftershock Survival Summit public so they could easily share it,” said Newsmax Financial Publisher Aaron DeHoog, “but unfortunately, it kept getting pulled.”

     The controversy stems from direct allegations that the people in Washington have failed miserably. They include former Federal Reserve Chairman Alan Greenspan and current Federal Reserve Chairman Ben Bernanke, tasked with preventing financial meltdowns and keeping the nation’s economy strong through monetary and credit policies.

     At one point, Wiedemer even calls out Ben Bernanke, saying that his “money from heaven will be the path to hell.”

     This wasn’t the first time Wiedemer’s predictions hit a nerve. In 2006, he and his team of economists accurately predicted the four-bubble meltdown in the housing, stock, private debt, and consumer spending markets that almost sunk America.


Sad commentary:  Americans appear now to take any insult
Regardless of his warnings and survival advice, Bernanke and Greenspan were not about to support Wiedemer publicly, nor were the mainstream media.

As the warnings went unheeded, and America suffered the consequences, Wiedemer penned his latest prophetic work, “Aftershock: Protect Yourself and Profit in the Next Global Financial Meltdown.”

     Once again his contrarian views ruffled feathers and just before the book was publicly released, the publisher yanked the final chapter, deeming it too controversial for newsstand and online outlets such as Amazon.com.

     Despite appearances, “Aftershock” is not a book with the singular intention of scaring people, explains DeHoog. “The true value lies in the sound economic survival guidance that people can act on immediately. I was able to read the original version with the ‘unpublished chapter,’ and I think it’s the most crucial in the entire book. After contacting Wiedemer, we [Newsmax] were granted permission to share it with our readers. In fact, viewers of the Aftershock Survival Summit are able to claim a free copy of it.”

     In the Aftershock Survival Summit, Wiedemer reveals what the publisher didn’t want you to see. Citing the unthinkable, he provides disturbing evidence and financial charts forecasting 50% unemployment, a 90% stock market collapse, and 100% annual inflation.


"Do you want Alpo or Little Friskies for dinner, Dear?"


“I doubted some of his predictions at first. But then Robert showed me the charts that provided evidence for such disturbing claims,” DeHoog commented.

Editors Note: The Aftershock Survival Summit shows the exact same charts. See them for yourself.

     And, Wiedemer isn’t alone in his predictions. Jim Rogers, the best-selling financial author and co-founder of the Quantum Fund, warns, “The S&P's recent downgrade didn't go far enough, as Washington probably doesn't even deserve the AA+ rating.”

     And House Speaker John Boehner affirms, “The effect of adding nearly a trillion dollars to our national debt — money borrowed mostly from foreign investors — caused a further erosion of economic confidence in America, and increased uncertainty for millions of private-sector job creators.”

     As Wiedemer’s warnings and predictions about money loss, market dives, unemployment, and inflation steadily prove to be accurate, the Aftershock Survival Summit is fast becoming the quintessential financial guide for the 21st century, garnering praise from millions.

     Russell H., a financial market adviser from Wichita, Kan., says Aftershock 2012 “scared the hell out of me. It was a great wake-up call.”

     Susan G. from Montgomery, Ala., called it “eye-opening, and mind-boggling.”

     Richard B. from Apison, Tenn., reflects, “It gave me the courage to make a move which, had I not made, would have left me behind the ‘eight ball.’”

     Don E. from Edgewater, Fla., said, “It caused me not only to think . . . but to act.”

     Even financial giants are sitting up and taking notice.


Minus a revolution, the world will follow U.S. into abyss
The Dow Jones’ MarketWatch said, “Aftershock will teach you how to protect yourself against an increasingly hostile Wall Street-Corporate-America-Washington conspiracy undermining average stock market investors. This is your bible, read it, get into action, and be a winner.”

And, the S&P calls Wiedemer’s work “a compelling argument for a chilling conclusion. [His] track record demands our attention.”

     Considering the lowered U.S. debt rating, the volatility of the stock market, and global uncertainty, Wiedemer’s track record proves why his warnings are critical.

     According to DeHoog, that’s why Newsmax* agreed to air the Aftershock Survival Summit as long as possible to make it available to as many as possible. He warns, “Watch it, and get the tools you need to prosper no matter what happens in our economy.”

     Editor’s Note: For a limited time, Newsmax is showing the Aftershock Survival Summit and supplying viewers with free copies of the new, updated “Aftershock” book including the final, unpublished chapter. Go here to view it now.


* Exercise extreme caution when quoting Newsmax "facts." - Ed.




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BP recovers $4 billion in Gulf oil spill costs; Obama, Cheney's Haliburton profit from Death/Destruction of Gulf Residents, wildlife


BP once again thumbs nose at Gulf spill victims, environmental destruction as Obama/Cheney/BP shareholders  make more money on Haliburton/BP stock

Agence France-Presse
10/17/2011

British energy giant BP said on Monday it had recovered $4.0 billion in costs linked to last year’s devastating Gulf of Mexico oil spill from US group Anadarko Petroleum Company.

    Anadarko has also agreed to transfer to BP its 25 percent stake in the Macondo well, where a leak in 2010 sparked an environmental catastrophe on the US Gulf coast.

Wildlife, resident deaths on rise
BP said in a statement that it had “reached agreement with Anadarko Petroleum Company to settle all claims between the companies related to the … accident” on the BP-leased Deepwater Horizon rig.

BP shares rose 5.36 percent to 438.6 pence, topping London’s FTSE 100 benchmark index in midday deals on Monday, a week before the group publishes third-quarter earnings. The FTSE 100 added 0.50 percent to 5,493.20 points.

    Chief executive Bob Dudley said the “settlement represents a positive resolution of a significant uncertainty and it resolves the issues among all the leaseholders of the Macondo well.

    “There is clear progress with parties stepping forward to meet their obligations and help fund the economic and environmental restoration of the Gulf.

    “It’s time for the contractors, including Transocean and Halliburton, to do the same,” he added in the statement.

All in the family:  Obama, Cheney, BP, Haliburton continue to profit
The US government last week slapped BP, Transocean — the Swiss owner and operator of the drilling rig — and US oil services group Halliburton with citations for violating oil industry regulations in what is expected to lead to massive fines for the deadly 2010 oil spill.

   The decision to also cite BP’s subcontractors could strengthen the British energy giant’s legal case for recovering some of the multi-billion dollar costs of the spill from Halliburton and Transocean.

    Halliburton designed and pumped the well’s cement, found to be a key factor in the accident.

    The Macondo leak was triggered by an explosion on the Deepwater Horizon rig in the Gulf of Mexico on April 20, 2010. The blast killed 11 workers, caused millions of barrels of oil to spew into the sea and left the British company scrambling to meet huge compensation costs.

    BP said its agreement with Anadarko was “not an admission of liability by any party regarding the accident.”

    It added in the statement: “Under the settlement agreement, Anadarko will pay BP $4 billion (2.9 billion euros) in a single cash payment.

    “BP will apply the payment to the $20 billion trust it established that is available to meet individual, business and government claims, as well as the cost of the natural resource damages.

   “Anadarko will also transfer all of its 25 percent interest in the MC252 (Macondo) lease to BP.”

    In order to meet its own compensation costs and raise $30 billion by the end of 2011, BP is selling assets. The British group last week said it had so far paid out about $7.0 billion in compensation claims arising from the oil spill.


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United States Marine Corps Sgt. Shamar Thomas from Roosevelt, NY went toe to toe with the New York Police Department: ‘There is no honor in this’


Another U.S. Marine takes a stand against the Nazis demonstrating yet again Marines will fight for American people, not government/corporations

RAW
By Stephen C. Webster
10/17/2011

At the “Occupy Wall Street” protest in New York City over the weekend, a decorated Marine sergeant wearing military colors confronted a group of police officers and gave them a stern lecture at the top of his voice about how they should not be hurting peaceful American protesters.

Marine warns cops:  Beware - stop hurting civilians
“Stop hurting these people, man!” shouts Sgt. Shamar Thomas, of the 3rd Light Armored Reconnaissance Battalion, in a video published to YouTube. “Why are ya’ll doing this to our people? I’ve been to Iraq 14 months, but my people, you come over and you hurt them! They don’t have guns!”

    He adds: “How do you sleep at night? There is no honor in this!"

    As Thomas continues shouting at the police, an officer tells him that he was in Iraq too. “So, why do you allow this?” Shamar replies. “Why are you walking around trying to hurt people?”

    “Keep moving,” the unidentified officer answers.

    Speaking to amassed members of the press moments later, he goes on: “I am from New York City and these cops are hurting people that I fought to protect. There’s no reason for this. There is no honor in hurting unarmed civilians, and I won’t let it happen. Have a good night.”

America's guarantee:  The United States Marine Corps
“I took an Oath* that I live by,” Shamar explains on his YouTube channel. “I am NOT anti-NYPD. I am anti- Police Brutality. I am no longer under contract with the USMC so I do NOT have to follow military uniform regulations. I DON’T affiliate myself with ANY GROUPS or POLITICAL ORG. I affiliate myself with the AMERICAN PEOPLE that’s it. I REFUSE to affiliate with anything that SEPARATES. There is an obvious problem in the country and PEACEFUL PEOPLE should be allowed to PROTEST without Brutality. 

    I was involved in a RIOT in Rutbah, Iraq 2004 and we did NOT treat the Iraqi citizens like they are treating the unarmed civilians in our OWN Country. No one was brutalized because our mission was to ‘WIN the hearts and minds’, why should I expect anything less in my OWN Country. SEMPER FI.”

    The video below was published to YouTube on Oct. 16, 2011:


*  Let's get this straight once and for all:  The United States Marines will NEVER fire on, obstruct or cause harm to the Free People of America.  We are the oldest Armed Service in America, dating back to November 10, 1775 and have a long and glorious history of  PROTECTING CIVILIANS, despite lapses that can be attributed to piss poor leadership in our ranks that we periodically cleanse ourselves of.  WE WILL KILL ANYONE THAT ATTEMPTS TO CAUSE HARM TO AMERICAN CIVILIANS, including other armed forces and rogue government personnel.  And while we have had our failings just like any other branch of the Armed Forces we will defend our country and liberty to the death, from ALL ENEMIES FOREIGN AND DOMESTIC, including rogue police forces - Sergeant Robert S. Finnegan, UNITED STATES MARINE CORPS


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ANDREW KREIG: EXPERTS REJECT FIRE AS CAUSE FOR 9/11 WTC COLLAPSES

The real truth on 9/11 slowly continues to bleed out

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Technical experts are mounting major challenges to official U.S. government accounts of how three World Trade Center skyscrapers collapsed in near-freefall after the 9/11 attacks 15 years ago.

Many researchers are focusing especially on the little-known collapse of

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The Geopolitics Of The United States, Part 1: The Inevitable Empire

The Empire and the inevitable fall of the Obama criminal regime

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STRATFOR Editor’s Note: This installment on the United States, presented in two parts, is the 16th in a series of STRATFOR monographs on the geopolitics of countries influential in world affairs.

Like nearly all of the peoples of North and South America, most Americans are not originally from the territory that became the United States.

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Geopolitics Of The United States Part 2: American Identity And The Threats of Tomorrow

A look back at 2011 predictions for the future in order to put events of today into perspective

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We have already discussed in the first part of this analysis how the American geography dooms whoever controls the territory to being a global power, but there are a number of other outcomes that shape what that power will be like. The first and most critical is the impact of that geography on the American mindset.

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By Robert S. Finnegan

This e-mail outlines and confirms the acts of espionage against Indonesia and Indonesians by Akiko Makino and the others involved both in Kobe University and in AI Lab at University of Airlangga, Surabaya; Bahasa Indonesia original follows English translation...

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UPDATED 01/07/2015 : New Analysis Challenges Tamiflu Efficacy; Hong Kong Corona Virus Outbreak

UPDATED 01/07/2015 : FOX NEWS CORPORATE PHARMA SHILL MEGAN KELLY AND FOX NEWS QUACK DOCTOR NOW PUSHING TAMIFLU FOR PREGNANT WOMEN AND CHILDREN;

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THE 5TH ESTATE UNEQUIVOCALLY WARNS THE PUBLIC NOT TO TAKE OR GIVE THIS PROVEN DANGEROUS, INEFFECTIVE DRUG TO ANYONE

Obama criminals now resulting to biowarfare in quest to destroy Chinese and ASEAN economy; "novel virus substrain" points directly to a Kawaoka / Fouchier / Ernala-Ginting Kobe lab virus weaponized and genetically altered to specifically target and infect the Asian population: Ribavirin...

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The 5th Estate has just purchased a library on H5N1 "Novel" virus pandemics, there are dozens of PDF and Exel documents we feel will assist you in saving lives following intentional releases of the H5N1 and now MERS viruses; we will begin by printing those that appear to be extremely relevant here: H5N1 Kobe-Kawaoka-Ernala series continues soon with more "Smoking Gun" e-mails from Teridah Ernala to The 5th Estate . . .

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By Robert S. Finnegan

On October 12, 2002 the Indonesian island of Bali experienced a terrorist attack that rocked the world. It was unquestionably well-coordinated and executed, the largest in the country's history.

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