Skip navigation.
Home
   Candidate & issue information
Informing Hawaii's voters

5 U.S. Banks Each Have More than $40 Trillion in Derivatives Exposure

The Economic Collapse

By Michael Snyder

September 24, 2014

When is the U.S. banking system going to crash? I can sum it up in three words. Watch the derivatives. It used to be only four, but now there are five "too big to fail" banks in the United States that each have more than 40 trillion dollars in exposure to derivatives. Today, the U.S. national debt is sitting at a grand total of about 17.7 trillion dollars, so when we are talking about 40 trillion dollars we are talking about an amount of money that is almost unimaginable. And unlike stocks and bonds, these derivatives do not represent "investments" in anything. They can be incredibly complex, but essentially they are just paper wagers about what will happen in the future. The truth is that derivatives trading is not too different from betting on baseball or football games. Trading in derivatives is basically just a form of legalized gambling, and the "too big to fail" banks have transformed Wall Street into the largest casino in the history of the planet. When this derivatives bubble bursts (and as surely as I am writing this it will), the pain that it will cause the global economy will be greater than words can describe.

If derivatives trading is so risky, then why do our big banks do it?

The answer to that question comes down to just one thing.

Greed.

Read more . . .

Mahalo to Jack DeFeo for tipping HPI to this story.

My Jewish Bloodlines

What's it like to be a Jew? Brother Nathanael gives us a peek and ends with a good word for the Russian Orthodox Church.

Brother Nathanael grew up in the U.S. as a Jew and converted to Christianity as a young man. He is now a member of the Russian Orthodox Church and lives in Colorado.

More Washington Lies

Paul Craig Roberts

PaulCraigRoberts.org

September 30, 2014

By Paul Craig Roberts

Hong Kong:

Whatever is occurring in Hong Kong, it bears no relation to what is being reported about it in the Western print and TV media. These reports spin the protests as a conflict between the demand for democracy and a tyrannical Chinese government

Ming Chun Tang in the alternative media CounterPunch says that the protests are against the neoliberal economic policies that are destroying the prospects of everyone but the one percent. In other words, the protests are akin to the American occupy movement.

Another explanation is that once again, as in Kiev, gullible westernized students have been organized by the CIA and US-financed NGOs to take to the streets in hopes that the protests will spread from Hong Kong to other Chinese cities. The Chinese, like the Russians, have been extremely careless in permitting Washington to operate within their countries and to develop fifth columns.

ISIS:

Americans are forever deceived. Remember the bullshit about “Mission Accomplished!”

The only mission that has been accomplished is the enrichment of the military/security complex and the creation of the American Police State. After eight years of the US military battering Iraq, Patrick Cockburn, one of the last front line reporters, tells us: “ISIS at the Gates of Baghdad.”

What is ISIS? There are a number of offered explanations. One from Washington and its puppet states is that it is a demonic threat to the West that cuts off people’s heads.

Another is that it is a CIA recruited and funded operation that is carrying out the neoconservatives plan to overthrow the governments in the Middle East.

My tentative explanation is that ISIS consists of Sunnis who are tired of existing in artificial states created by the British and French after World War I when the Western colonialists seized the territories of the Ottoman Empire. They are tired of being suppressed by Shia majorities or by secular dictators who use suppression to control conflict between Sunni and Shia. They are tired of being murdered, plundered, and raped by the Americans and Europeans. They are tired of being displaced and dispossessed. They are tired of the immoral Western culture imposed on them by modern technology. The Islamic State is redrawing the artificial boundaries that the Europeans created, and they are establishing an Islamic government free of the moral corruption of Western materialism and sexual promiscuity.

In short, they are tired of being dictated to and having their culture suppressed.

The huge sums of money taken from the gullible American taxpayers, people who, unlike ISIS, are willing to accept any imposition, for training the Iraqi army went entirely into the coffers of the American firms that got the training contracts. As Patrick Cockburn reports, the American trained and equipped Iraqi Army defending Mosul nominally numbered 60,000, much larger than the attacking force, but only one-third were actually present. The rest had kick-backed half their salaries to their officers in order to stay at home or to work a better paying job. When the Islamic State attacked, the Iraq army collapsed.

Afghanistan:

The new “president” of Afghanistan has agreed to Washington’s demands to which even the corrupt Karzai would not agree. The new bought-and-paid-for-puppet president has agreed for US troops to remain in Afghanistan. We will see what the Taliban have to say about this.

Ebola:

We now have the first ebola case in the US. A person in a hospital in Dallas, Texas, has brought ebola from Liberia to the US. The CDC says that the virus can be contained, like ISIS, and that no one is in danger. This remains to be seen. Because of the years of transparent lies emanating from Washington, many Americans already believe that the importation of ebola is part of the one percent’s plan to destroy the rest of us so that they have the country to themselves.

This is what comes of a government and a media that serves only the One Percent and that inflicts endless lies and disinformation on the rest of us.

Copyright © Paul Craig Roberts 2014

About Paul Craig Roberts

Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments and his Internet columns have attracted a worldwide following. Roberts' latest books are The Failure of Laissez Faire Capitalism and Economic Dissolution of the West and How America Was Lost.

Open Letter to British PM David Cameron about His UN Speech Tying 'Non-Violent Extremists' to ISIL Problems

GlobalResearch (Canada)

By Peter Drew

September 29, 2014

Dear Mr Cameron

I write this open letter to you in response to your recent speech at the United Nations calling for military intervention in Iraq and Syria over the threat of ISIL. In particular I would like to make mention of your reference to the so called threat to society of what you have termed ‘non-violent extremists’, including those who are attempting to bring forward information and evidence about 9/11 which contradicts the official version of events.

Putting aside the direct issue of ISIL for a moment, I find this position on 9/11 evidence to be quite incredible. It is a position that is either extremely ignorant, or it is a position that goes against freedom and democracy in British society to such an extent that it is scarcely believable. Huge numbers of extremely credible and professional people across the world are now bringing forward incontrovertible facts and evidence showing us that the events of 9/11 have been systematically covered up, and that the public has been deceived and manipulated on this issue at a quite incredible level. Just like the public was deceived and manipulated about weapons of mass destruction in Iraq.

While you are labelling these people who bring this evidence forward about 9/11 as ‘non-violent extremists’, are you aware of what is currently happening in New York City regarding 9/11?

Read more . . .


Above: Cameron addresses the United Nations General Assembly on September 24, 2014

Transcript This transcript, if accurate, shows that the Global Research title, "British PM David Cameron: “Non-Violent Extremists” Including “9/11 Truthers” and “Conspiracy Theorists” Are Just as Dangerous as ISIL Terrorists," is misleading.

German Bestseller Reveals CIA Pays Western Media to Spin News

Russia Today introduction: The media is a key tool in the battle for hearts and minds. But a new bestseller by a German author reveals some details on journalism that would be considered too outlandish, even in a spy novel. RT's Peter Oliver reports.

Published on September 28, 2014

Gateway Policies: ISIS, Obama and US Financial Boots-on-the-Ground

NomiPrins

By Nomi Prins

September 21, 2014

President Obama’s neo-Cold War is not about ideology or respect for borders. It is about money and global power. The current battle over control of gateway nations - strategic locations in which private firms can establish the equivalent of financial boots-on-the-ground - is being waged in the Middle East and Ukraine under the auspices of freedom and western capitalism (er, “democracy”). In these global gateways, private banks can infiltrate resource-rich locales fortified by political will, public aid and military support to garner lucrative market advantages. ISIS poses a threat to global gateway control that transcends any human casualties. That’s why Congress decided to authorize funds to fight ISIS despite the risk.

The common thread of today’s global gateway nations appears to be oil. But even more valuable are the multitude of financing deals that would accompany building new pipelines, arming allies, and reconstructing civil-war-torn countries. Indeed, hundreds of billions of dollars are at stake in America’s wars of “principle.”

Middle-East Gateways: ISIS and Money

Obama’s recent public address on fighting ISIS had a dash of economy sprinkled in. For him, US economic policy is foreign policy. It is also a product of an American political-financial expansionary land-and-resource grab that has been going on for decades. Obama’s execution may be far less authoritative than President Eisenhower’s. But his neo-financial Cold War has similar elements to those initiated by Eisenhower and the American banking elite in the 1950s when they collaborated to project American power into more countries, using the military and a combination of public and private capital, as tools.

Read more . . .

PBS Hawaii: State House Districts 43 and 48

Published on YouTube Sep 12, 2014

In State House District 43 (Ewa Villages, Kalaeloa, Ko Olina, Maili, Nanakuli) on the Waianae Coast, extreme poverty and homelessness, socio-economically-challenged schools and transportation issues have been persistent problems. Democratic incumbent Representative Karen Awana has been working on finding solutions for District 43 since her election in 2006. In the general election she's facing Republican Andria Tupola, who believes the solutions are out there in the community and that she's the leader who can bring them forth and put them into action.

Environmental issues, traffic and the push-and-pull between development and agriculture are among the concerns in State House District 48 (Kaneohe, Heeia, Ahuimanu, Kahaluu, Haiku Valley, Mokuoloe) on the Windward Coast. Democrat Jarrett Keohokalole and Libertarian Kaimanu Takayama are vying for a seat left open when incumbent Jessica Wooley was appointed to head the Office of Environmental Quality Control. The campaign for Republican Eldean Kukahiko, a previously scheduled guest, claims to have not agreed to appear on the show, and will not be participating in this discussion. Nonpartisan candidate Kana Naipo is not able to attend, citing a previous commitment.

House Candidates District 44 (Waianae, Makaha, Maili)

Originally aired July 12, 2014

The forum features incumbent Jo Jordan (D), AL Frenzel (L), and Cedric Gates (G). All three candidates are still in the running for the general election.

Former Ohio Congressman Traficant Dead from Accident

Death of controversial former Congressman appears suspicious to some

We Are Change

Luke Rudkowski

September 28, 2014

CLEVELAND (Reuters) – Former U.S. Representative James Traficant of Ohio, a brash, eccentric figure known for his bombastic speeches who went to prison for corruption, died on Saturday at age 73, his family attorney said.

Traficant had been hospitalized since Wednesday in critical condition after he lost control of his 1948 Ford tractor in the barn at his home in Greenford, Ohio, police said.

The tractor rolled over and pinned him underneath.


Read more . . .

Scottish Referendum a Beacon of Hope

September 28, 2014

Even though it ultimately failed at the ballot box, the recent campaign for Scottish independence should cheer supporters of the numerous secession movements springing up around the globe.

In the weeks leading up to the referendum, it appeared that the people of Scotland were poised to vote to secede from the United Kingdom. Defeating the referendum required British political elites to co-opt secession forces by promising greater self-rule for Scotland, as well as launching a massive campaign to convince the Scots that secession would plunge them into economic depression.

The people of Scotland were even warned that secession would damage the international market for one of Scotland’s main exports, whiskey. Considering the lengths to which opponents went to discredit secession, it is amazing that almost 45 percent of the Scottish people still voted in favor of it.

The Scottish referendum result has done little to discourage other secessionist movements spreading across Europe, in countries ranging from Norway to Italy. Just days after the Scottish referendum, the people of Catalonia voted to hold their own referendum measuring popular support for secession from Spain.

Support for secession is also growing in America. According to a recent poll, one in four Americans would support their state seceding from the federal government. Movements and organizations advocating that state governments secede from the federal government, that local governments secede from state governments, or that local governments secede from both the federal and state governments, are springing up around the country. This year, over one million Californians signed a ballot access petition in support of splitting California into six states. While the proposal did not meet the requirements necessary to appear on the ballot, the effort to split California continues to gain support.

Americans who embrace secession are acting in a grand American tradition. The Declaration of Independence was written to justify secession from Britain. Supporters of liberty should cheer the growth in support for secession, as it is the ultimate rejection of centralized government and the ideologies of Keynesianism, welfarism, and militarism.

Widespread acceptance of the principle of peaceful secession and self-determination could resolve many ongoing conflicts. For instance, allowing the people of eastern Ukraine and western Ukraine to decide for themselves whether to spilt into two separate nations may be the only way to resolve their differences.

The possibility that people will break away from an oppressive government is one of the most effective checks on the growth of government. It is no coincidence that the transformation of America from a limited republic to a monolithic welfare-warfare state coincided with the discrediting of secession as an appropriate response to excessive government.

Devolving government into smaller units promotes economic growth. The smaller the size of government, the less power it has to hobble free enterprise with taxes and regulations.

Just because people do not wish to live under the same government does not mean they are unwilling or unable to engage in mutually beneficial trade. By eliminating political conflicts, secession could actually make people more interested in trading with each other. Decentralizing government power would thus promote true free trade as opposed to "managed trade” controlled by bureaucrats, politicians, and special interests.

Devolution of power to smaller levels of government should also make it easier for individuals to use a currency of their choice, instead of a currency favored by central bankers and politicians.

The growth of support for secession should cheer all supporters of freedom, as devolving power to smaller units of government is one of the best ways to guarantee peace, property, liberty — and even cheap whiskey!

Syndicate content