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international & US domestic financial & intelligence communities needed to procure a means of refinancing the banks …
w/o the banks having to be bailed out -- or entities such as GSEs having to be bailed out -- w/printed money
global refinancing solution, designed by Ambassador Lee Emil Wanta, financial engineering genius who orchestrated the Financial Warfare operation against Soviet Union in accordance w/President Reagan’s direct instructions, was & remains,
The Wanta Plan.
Under this plan, to have started June 2006 when Wanta should’ve taken economic receipt of his $4.5 trillion agreed-upon compromise Settlement, the high-yield financial trading techniques applied illegally to exploit Wanta’s funds to generate untaxed fiat funds off-balance sheet, would be applied ON-BALANCE SHEET, w/every dime taxed &
paid onto the U.S. Treasury’s books.
plan was approved by Group of Eight financial powers, world’s leading central banks, International Monetary Fund, World Bank & by compromised & cooperating banks & securities houses themselves …once it was realized no other solution was available.
parties [in previous paragraph, excluding Wanta] have, to a greater or a lesser extent, participated in serial financial criminality that led the world to brink of financial catastrophe, each group knows an actual collapse would be disastrous & contrary to its own fundamental interests.
cited parties are united in urgent insistence The Wanta Plan be implemented, w/o further dangerous & damaging delay, in order to avert the spectacle, for which they are responsible, of banks & securities houses collapsing around the world, & world financial economy [crashing]. Which highlights the folly of Henry M. Paulson, Jr., US Treasury Secretary, on behalf of himself & of President Bush, Vice President Cheney, Godfather Bush, their Clinton criminal associates, & those elements of the corrupted US intelligence community that decided to ‘play with’ Ambassador Wanta’s compromise $4.5 trillion Settlement funds.
Had Settlement been implemented June 2006, impact of The Wanta Plan would’ve been the gross financial sins of the past could’ve been covered up. But Messrs Paulson, Bush Jr., Cheney et al, decided instead [to] continue corrupt ‘business as usual’. That is how arrogant, blind & stupid they were.
this enrichment process [through theft & fraud] has channeled pipelines of funds & assets into the lined pockets of a financial élite of organized criminal operatives & official fraudsters who, working in cahoots w/the corrupt bankers, have been enriching themselves at the expense of US taxpayers, those unfortunates whose properties have been foreclosed upon, & foreign banks & other financial sector ‘takers’ who failed to perform adequate (or any) due diligence when assessing whether packaged, collectivized, synthetic derivatives ‘products’ are backed by real assets, or – as it is – worthless.
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they failed to take account of three factors:
1. faith & determination of Ambassador Lee Emil Wanta, strengthened in the furnace of a decade & a half of suffering in the horrible US GULAG & thereafter, giving rise to his certainty his refusal to go along w/the corruption would ultimately be vindicated.
2. unequalled securities market expertise of Michael C. Cottrell, M.S., & his refusal to be compromised by these people, despite numerous attempts.
3. global power of these Wantagate reports to break through controlled inertia of the so-called& its aftermath, & by a parallel surreptitious & subversive operation to muzzle & control the media in the United Kingdom, mainly by ‘political correctness’ & the infection of narrow-mindedness & mind-control disseminated inter alia via the vacuous ‘Common Purpose’ programme (see the second posting in the Archive). [we’ll look into this, later]
‘mainstream’ media*, which is fatally compromised in U.S. by Operation Mockingbird (a long-running CIA programme to muzzle & control the media)
reported desire on the part of European parties for high-level arrests to take place in the United States.
Donald Rumsfeld had to flee France in October, w/the assistance of the cowed American Embassy, when … he was in danger of being arrested for war crimes.
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NORTHERN ROCK A CORRUPT DUMP FOR THE CRIME SYNDICATE
In United Kingdom, collapse of Northern Rock, is first high street banking collapse to have occurred in Great Britain for 150 years
bank’s assets consisted inordinately of packaged, collectivized mortgage-backed, synthetic derivatives composed of ‘assets’ that were worthless & dumped on Northern Rock by associates of the Bush-Clinton crime syndicate because, thanks to Wantagate, it’d become apparent in the financial community that no underlying property contracts ever existed.
With its balance sheet skewed, the bank relied excessively on the interbank market for funds, which dried up as the crisis of confidence arising from Henry M. Paulson’s hijacking of the Wanta Settlement, spread thru the banking community.
Bank of England picked up the tab – sending shivers down the spines of central bankers facing similar problems elsewhere (Japan, for instance).
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WHAT LIES BEHIND THE GSEs’ COMPLICITY IN THESE FRAUDS?
appropriately cynical interpretation must be GSEs have been used to enrich the banks.
GSEs in question have been acting as pipelines of fraudulently procured funds to keep banks & securities houses afloat, using inter alia funds stolen & generated from those belonging to Wanta as sole principal, thus
bringing banks progressively under de facto control of a small (Fascist) élite of master criminal operatives.
[worldwide] bankers have been arrested & have disappeared. Senior US officials have been arrested and/or ‘dealt with’ (as this report was being finalized).
most exposed American (& some British) banks have moved to the edge of collapse, w/Securities & Exchange Commission reported in Dec to have threatened Citibank w/closure.
Detailed published investigations of financial frauds have begun, threatening to impose pressure on banks – since, for instance, victims of real estate mortgage scams go to the courts, contest foreclosures & demand presentation of the underlying contracts by the banks.
• & endless, inordinate criminal delays in completing the Wanta Settlement have paralleled an associated degradation of global economic financial & economic conditions which, by end of 2007, was threatening to run irretrievably out of control.
CONTEXT: The tables for Fannie Mae & Freddie Mac are BLANK not just for FY2007 & FY 2008, but for FY2006 as well. However, all of a sudden, data that were missing in the 2006 column for the Federal Home Loan Bank System displayed in the Office of Management & Budget’s FY2007 ‘Analytical Perspectives’ has appeared in the FY 2008 documentation.
It shows actual Federal Home Loan Bank System direct loan obligations of $7,475,995,000,000. Separately, under the heading ‘Cumulative balance of direct loans outstanding’, transactions that are here labelled ‘Advances made to members & mortgage loans purchased from members’ of $7,475,995,000,000, are ‘matched’ by ‘Principal collected on advances & mortgage loans’ amounting $7,453,327,000,000. No explanation is provided how this ‘reconciliation’ suddenly materialized out of thin air. What has accordingly happened is the same as the relevant banks’ book-entry ‘reconciliation’, described above, but in reverse.
Pages 98-100 of the current ‘Analytical Perspectives’ document shows blank data in a table purportedly displaying the face value of Government-Sponsored Lending for Fiscal Years 2005 & 2006, w/following rubrics:
• ‘‘Financial data for Fannie Mae is not presented here because following a restatement of financial data for 2001-2004, audited financial results for 2005 & 2006 have not been released’; & ‘Financial data for Freddie Mac is not presented here because following release of previous earnings restatements, audited financial statements for 2005 & 2006 have not been released’. These excuses diverge from the explanation for the blank spaces given elsewhere in the Office of Management & Budget’s FY2008 documentation which, as noted above, states: ‘Consistent w/Government-wide practice for GSEs, information for 2007 & 2008 (2006 & 2007) was not required to be collected’.
So, either relevant data ‘was not required to be collected’, or it couldn’t be released because audited financial statements are not available following financial data restatements for earlier years. Which excuse for hiding the truth is it to be?
Clearly, given the Office of Management & Budget (OMB), which is part of the Office of the President, is concealing these crucial financial data, it is hiding something big; & what is being hidden are colossal proportions of fraudulent finance perpetrated, the fact that the GSEs in question have been systematically ripped off by the banks, that the GSEs are collaborating conduits for fraudulent finance, & that the GSEs have negligently allowed this state of affairs to continue for years – and, in the case of the Federal Home Loan Banks, the accounts have just been synthetically doctored by book entries to create an almost balancing double entry.
10 World’s Largest Banks in 2008
list of 10 largest banks in the world in terms of market capitalization size, released by Bloomberg Feb2008.
...
breaking up of US domination, spearheaded by the Asian banks, notably from China,
Citibank, which recently has been embroiled in financial crisis, became the biggest casualty, slumping from top position to 7th.
1. Industrial & Commercial Bank of China, ICBC (China)
Beijing based ICBC Bank underwent most remarkable faces of growth barely 2 years after going public, which gives a clear indication of investors’ preference in the emerging China market. ICBC offers a wide range of personal and corporate banking services which include loan, deposit, credit card, underwriting, trading and currency settlement.
ICBC listed simultaneously on two exchanges - the Shanghai Stock Exchange and Hong Kong Stock Exchange in 2006, making it the first and only company to do so. ICBC has won numerous accolades and awards from various international magazines including Bankers, Global Finance, The Assets and Finance Asia.
Market capitalization - US277.514 billion. Previous ranking (as of Jan 2007) - 4.
2. Bank of America (US)
Bank of America (BoA) has now taken over Citibank as the biggest commercial bank in the United States by market cap and deposits. Started in California, BoA then grew its operation to Washington, and soon began a rapid expansion nationally and internationally.
In the process of getting where they are today, the bank has gone through good and bad times. In late 1980s BoA suffered huge loss as a result of non-performing loan, which saw the then CEO, Sam Armacost fired and replaced. It almost fell into a hostile takeover but came back with a bang and became one of the biggest gainers in a decade. The bank retains its position in the second spot.
Market capitalization - US195.933b. Previous ranking - 2.
3. HSBC Holdings (UK)
HSBC was named as the world’s most valuable banking brand by The Banker Magazine. incorporated in England and Wales, with its main office located in London. In 1992, HSBC was involved in one of the world’s largest banking acquisition, after assuming full ownership of Midland Bank.
The merger also saw the beginning of HSBC setting up strong market presence, particularly in Europe. Apart from United Kingdom HSBC now also has significant operation in France, Czech Republic, Germany, Ireland, Switzerland, Turkey as well as Malta. Just like Bank of America, HSBC maintains its ranking.
Market capitalization - US176.788b. Previous ranking - 3.
4. China Construction (China)
first established as the People’s Construction Bank of China and was changed to the current name in 1996. The bank’s rise to prominence is also helped with the involvement of Bank of America which injected some significant amount of investment for the past few years. In 2005, the China Construction bank landed into a scandal that involved the Chairman of the company, Zhang Enzhao.
Zhang was alleged to have received one million dollars bribe from an American company, which in return asked for an award of contract. Zhang eventually resigned from his post. The bank has more than 13,000 branches across its native country China, as well as active operation in Singapore, Hong Kong, German, Africa, Japan and Korea.
Market capitalization - US165.234b. Previous ranking - 7.
5. Bank of China (China)
The third and final bank from China to make it to the top 10. In China, there is the term referred as the ‘Big Four’ banks and Bank of China is one of them.
Bank of China first bank established in the land of the dynasties. In the earlier years, the bank acted as the Central Bank but then its role was replaced and then converted into a full-fledge commercial bank. While the bank has overseas operation in Australia, United Kindom, Canada, United States, Brazil, Japan, Philippines, Malaysia and Korea, the overseas business only accounts for less than 5 percent of the company’s overall revenues.
Market capitalization - US165.087b. Previous ranking - 6.
6. JPMorgan Chase (US)
JPMorgan Chase offers investment banking, financial services, wealth and asset management, and private equity. The current entity is a result of a series of mergers, with its original name did not sound anything like the current, which was the Chemical Banking Corporation.
JPMorgan is based in the downtown of New York, Manhattan. Additionally, the investment wing of the bank operates a number of offices around the world, with major presence in the United States, London, Tokyo, Singapore and Hong Kong. BusinessWeek ranked JPMorgan in the Top 10 Best Places to Launch a Career in 2006.
Market capitalization - US159.615b. Previous ranking - 5.
7. Citigroup (US)
A year ago, Citibank was the largest bank in the world but how different it is today. From a world champion, the group slumped to 7th, only in a space of few months. The bank was established almost 200 years ago by a number of merchants in New York.
After going through changes in ownership, the bank stamped its presence as the country’s largest bank in 1865, and soon became the first US bank to set up operation in overseas. Mergers and acquisition followed and the bank could only grow larger and larger. The group faced one of the toughest test for the last 12 months with the weakening US economy and the collapse of the subprime mortgage market.
Market capitalization - US140.698b. Previous ranking - 1.
8. Wells Fargo (US)
Formed by the founders of American Express company, Wells Fargo has its headquarter in California and the bank offers specialized financial services such as asset management, real estate business, debt products, advisory, securities investment and capital management. The group itself, however, is involved in more than 80 distinguished business areas.
Wells Fargo became the first bank to have introduced internet banking after introducing web access to its customers in 1995. The bank also works closely with small and medium sized companies, giving small business owners access to business loans and lending.
Market capitalization - US112.365b. Previous ranking - 11.
9. Banco Santander (Spain)
Banco Santander is the largest bank in Spain, and the second largest in Europe. The bank, which involves in retail banking, asset management and insurance, and global wholesale banking, employs more than 120,000 people worldwide, serving 68 million customers, a figure higher than the whole population of Spain.
operates in more than 10,000 branches worldwide. The group is also one of the premium sponsors for McLaren-Mercedes F1 team. Banco has strong market presence in Portugal, United Kingdom and in Latin America including Brazil, Mexico, Chile, Argentina, Venezuela, Uruguay, Colombia, Peru and Puerto Rico.
Market capitalization - US109.862b. Previous ranking - 12.
10. Mitsubishi UFJ Financial, MUFG (Japan)
Mitsubishi UFJ Financial groups runs The Bank of Tokyo-Mitsubishi UFJ, which is a result of a merger between The Bank of Tokyo-Mitsubishi and UFJ Bank Limited in 2006. The group, which is listed in five stock exchanges - Tokyo, Osaka, Nagoya, New York and London, is presently the largest financial services company in Japan in terms of size of assets.
Headquartered in Tokyo, Japan, the company holds a total asset of US1.2 trillion and is one of the biggest companies in the Mitsubishi Group. MUFG is now headed by the the President and CEO, Nobuo Kuroyanagi, an MIT business graduate.
Market capitalization - US105.412 b. Previous ranking - 9.
Deutsche Bank/Alex Brown American investing banking arm of German giant, Deutsche Bank, & used to purchase ‘put’ options on United Airlines stock immediately prior to & during WTC/911, & Alex Brown bank previously chaired by former exec dir of CIA, ‘Buzzy’ Krongard. A.B. Brown acquired by Banker’s Trust in 1997, became vice chairman when firms merged into Banker’s Trust/AB Brown. Banker’s Trust/A.B. Brown. Banker’s Trust acquired by Deutchebank in 1999, to form single largest bank in Europe.
Before 911, Kevin Ingram, executor for Bankers Trust/Deutchebank pled guilty to laundering money to financing terrorist operations for groups linked to Osama bin Laden. Deutchebank favorite of bin Laden family & connected to hijackers & their support network.
Deutchebank had relationships w/banks in Bahrain & Kuwait that served George W. Bush when he engaged in illegal insider trading of Harken Energy.
Mayo Shattuck III, head of Brown/Deutchebank on 911, involved in Enron, in conceal massive debt & involved in insider trading scam w/Adnan Khashoggi’s ‘Genesis Intermedia’ just before 911. midway in 3-year, 30 million dollar contract as head of Alex Brown when attacks came, under his mgt, illegal trades on United Airlines placed.
NEW YORK - Citigroup agreed Monday to purchase Wachovia's banking operations for $2.1 billion in a deal arranged by federal regulators, making the Charlotte, N.C.-based bank the latest casualty of the widening global financial crisis.
The deal greatly expands Citigroup's retail franchise — giving it a total of more than 4,300 U.S. branches and $600 billion in deposits — and
secures its place among the U.S. banking industry's Big Three, along with Bank of America Corp. and JPMorgan Chase & Co.
But it comes at a cost: Citigroup Inc. said it will slash its quarterly dividend in half to 16 cents. It also will dilute existing shareholders by selling $10 billion in common stock to shore up its capital position.
In addition to assuming $53 billion worth of debt, Citigroup will absorb up to $42 billion of losses from Wachovia's $312 billion loan portfolio, with the Federal Deposit Insurance Corp. agreeing to cover any remaining losses. Citigroup also will issue $12 billion in preferred stock and warrants to the FDIC.
The agreement comes after a fevered weekend courtship in which Citigroup and Wells Fargo & Co. both were reportedly studying the books of Wachovia Corp., which was weighed down by losses linked to its ill-timed 2006 acquisition of mortgage lender Golden West Financial Corp.
Wachovia, like Washington Mutual Inc., which was seized by the federal government last week, was a big originator of option adjustable-rate mortgages, which offered very low introductory payments and let borrowers defer some interest payments until later years. Delinquencies and defaults on these types of mortgages have skyrocketed in recent months, causing big losses for the banks.
Wachovia shares, which had slumped as the global credit crisis intensified in recent months, dropped $8.16, or 81.6 percent, to close at $1.84. They had traded as high as $52.25 over the past year.
Citigroup shares, meanwhile, fell $2.40, or 11.9 percent, to $17.75. Shares have traded between $12.85 and $48.95 in the past 12 months.
The FDIC asserted Monday that Wachovia did not fail, and that all depositors are protected and there will be no immediate cost to the Deposit Insurance Fund.
Federal Reserve Chairman Ben Bernanke, in a statement Monday, said he supports the "timely actions" taken by the FDIC "which demonstrate our government's unwavering commitment to financial and economic stability."
Treasury Secretary Henry Paulson said in a statement that the sale of Wachovia's banking operations to Citigroup would "mitigate potential market disruptions." Paulson said he agreed with the FDIC and the Fed that a "failure of Wachovia would have posed a systemic risk" to the nation's financial system.
Wells Fargo agrees to buy Wachovia, Citi objects
By SARA LEPRO, AP Business Writer
NEW YORK - A battle broke out Friday for control of Wachovia, as Wells Fargo agreed to pay $14.8 billion for the struggling bank, while Citigroup and federal regulators insisted that Citi's earlier and lower-priced takeover offer go forward.
The surprise announcement that Wachovia Corp. agreed to be acquired by San Francisco-based Wells Fargo & Co. in the all-stock deal — without government assistance — upended what had appeared to be a carefully examined arrangement and caught regulators off guard.
Wells' original offer totaled about $15.1 billion, but since the value of its shares closed down 60 cents Friday, the deal is now valued at about $14.8 billion.
Only four days earlier, Citigroup Inc. agreed to pay $2.1 billion for Wachovia's banking operations in a deal that would have the help of the Federal Deposit Insurance Corp.
The head of the FDIC said the agency is standing behind the Citigroup agreement, but that it is reviewing all proposals and will work with the banks' regulators "to pursue a resolution that serves the public interest."
Citigroup, which demanded that Wachovia call off its deal with Wells Fargo, said its agreement with Wachovia provides that the bank will not enter into any transaction with any party other than Citi or negotiate with anyone else.
Barring legal action, the future of Wachovia will be determined by the bank's shareholders and regulators, which both have to approve a final deal.
It was clear which they preferred Friday, as Wachovia shares climbed as high as 80 percent.
The FDIC is talking out of both sides of its mouth, said Roger Cominsky, partner in law firm Hiscock & Barclay's financial institutions and lending practice. The agency says it stands behind the deal with Citigroup because it hasn't been nixed yet, he said. "But at the same time, they are saying they are reviewing all proposals."
By law, he said the FDIC is required to find the least-costly resolution for taxpayers. The Wells Fargo deal would not rely on any assistance from the government.
The Federal Reserve, which has regulatory oversight of the three big banks, said it hasn't had time to review the proposed sale of Wachovia to Wells Fargo but will work to ensure that all creditors and depositors of Wachovia are protected.
The Fed said regulators will be working with Wachovia and Wells Fargo "to achieve an outcome that protects all Wachovia creditors, including depositors, insured and uninsured, and promotes market stability."
Under Wells Fargo's deal, Wachovia shareholders would receive 0.1991 shares of Wells Fargo for every share of Wachovia stock they own, valuing Wachovia at about $7 per share. This is a nearly 80 percent premium over the stock's Thursday closing price of $3.91. Shares closed at $10 on Sept. 26, the last trading session before the deal with Citigroup was announced.
"This deal enables us to keep Wachovia intact and preserve the value of an integrated company, without government support," Robert Steel, Wachovia's president and chief executive, said in a statement.
In its planned takeover of Wachovia, Citigroup said it would assume $53 billion worth of debt and agreed to absorb up to $42 billion of losses from Wachovia's $312 billion loan portfolio. The FDIC agreed to cover any remaining losses in exchange for $12 billion in Citigroup preferred stock and warrants.
"Wells' deeper and more considered due diligence has probably revealed fewer risky assets and a larger number of higher valued assets than originally thought," said Anant Sundaram, professor of finance at the Tuck School of Business at Dartmouth College in an e-mail to The Associated Press. "Although it is still too early to tell, this could presage a significant shift in market sentiment toward the value of companies such as Wachovia, and may suggest that there has been an overreaction in the downdraft that we saw in the past few weeks. It is a huge shot in the arm for market confidence. It is also a signal that market forces are capable of resolving some aspects of the crisis without undue congressional, and hence, taxpayer, intervention."
The fight for Wachovia comes at a turbulent time for banks and financial firms as they grapple with the ongoing credit crisis, which led to the recent bankruptcy of Lehman Brothers Holdings Inc. and the failure of Washington Mutual Inc.
It also comes at a time of unprecedented government intervention in the financial markets.
Wells Fargo may have decided to make a move as the passage of the government's financial bailout plan seemed imminent, said Donn Vickrey, co-founder and chief analyst at Gradient Analytics.
"At the time they made the decision, it looked a lot more likely that it would pass," he said. "You have the possibility of offloading these loans at a price that is higher than current values."
The failure of the government's proposed $700 billion bailout for financial institutions Monday cast doubt on whether Citigroup would be able to rid itself of some of Wachovia's bad debt.
The proposal would have allowed Citigroup to sell Wachovia's distressed mortgage-related assets to the government for a profit.
Congress approved a sweetened version of the bailout plan Friday and President Bush quickly signed it.
The core of the plan remains little changed from its inception — the Treasury Department would have $700 billion at its disposal to purchase bad mortage-related securities that are weighing down the balance sheets of institutions that hold them.
But in analyzing the deal, Wells Fargo assumed it would not sell any of the loans to the government.
population of World expanded six-fold in parallel w/oil production during First Half of Age of Oil. population will have to return to pre-Oil Age levels …reduction of 6 billion people likely to take place during 21st Century …
greatest obstacle to scenario w/best chance of success Western world's unintelligent devotion to political correctness, human rights & sanctity of human life … explosion of world population from 0.6 billion in 1750 to 6.4 billion today initiated & sustained by shift from renewable energy to fossil fuel energy in Industrial Revolution. progressive exhaustion of fossil fuel reserves will reverse process,
billtotten.blogspot.com...
in 2002 I predicted a market crash that saw $1 trillion in shareholder equity lost in ...three months. -- $1.2 trillion was destroyed ...today...
June 25, 2006-- an unprecedented move by President George W. Bush to give the National Director of Intelligence, John Negroponte, the authority to exempt "certain" Wall Street firms and banking giants from reporting their financial records to the Securities and Exchange Commission.
Thursday, October 7, 2008. ... the meltdown and collapse of the U.S. financial system, and the failure of the U.S. government ... foreign economies will been energetically disengaging from the U.S. economy and the dollar ... without totally destroying the value of their holdings. ...giants like Citigroup ...will be exposed...counting on the bailout. Citigroup may survive but others will not. The ones who do survive will ... be corporations ...in on this plan. Goldman Sachs will ...survive. Berkshire Hathaway will ... survive.
Just a few days ago China ordered its banks to stop lending to U.S. banks.
Second; Venezuela, North Korea, Russia, rebels in Nigeria, and pirates off Somalia are becoming increasingly more aggressive. They do this not with the intent of physically attacking the United States itself, but with breaking its credibility and economic back. The U.S. has been humiliated in Georgia and North Korea is firing up its nuclear plants again.
The value of credit default swaps backed by the debt of Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz) and Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) will be set on Monday in a series of auctions, which will be the largest settlement of the contracts the market has ever seen.
Estimations on how much credit protection is outstanding on Fannie and Freddie's $1.6 trillion in debt range from hundreds of billions of dollars to as much as $1.2 trillion.
I'm trying to write a paragraph of the current status of an alleged court settlement to Leo Wanta. I heard it was 4.5 trillion but am bogged down locating the court cases.
At this primary stage of research, I'm documenting Wanta existed, was imprisoned for tax evasion, was declared to be in diminished capacity, and was via U.S. District court declared the trustee of 4.5 trillion to 70 trillion dollars.
not interested in having knowledge of information currently classified, recently declassified material is fine. I would like to attribute a summary paragraph of the current status of the Wanta settlement, to an authority or other spokesperson in the U.S. or Europe or China or Russia or Euroasia or India.
WHAT WOULD BE MOST HELPFUL is a directory to related court cases. NOT interested in speaking w/xxxx as I find his work inflammatory apparently sprinkled w/disinformation and contradictory statements -- he attributes the same 4.5 trillion for the settlement coming from China and Bank of England simultaneously -- and he does not cite much documentation. Any court history reference numbers and/or authorities I can quote and/or interview would be greatly appreciated.
As mentioned I'm being explicit because I don't want to be researching areas the government currently has not declassified due to national security interests. If you can help direct me to digitized documents or other collaborative or illuminating information, I'd appreciate your help.
reference request is: Foyer 2005-167, U.S. Chief Justice John Roberts' files on Leo Wanta -- 40 pages of documents that corroborate Ambassador Wanta’s status as an intelligence operative (spy) who advised and worked for President Reagan directly. -- I understand there is a copying charge.
I contacted Mrs. Reagan about 5-10 years ago after I'd finished a series of historical novels and screenplays about the President, because I wanted to tell Mrs. Reagan the premise of the work and that it was under consideration by Oliver Stone's staff at the time, so it would not be a surprise to her. She sent me back a note via her secretary wishing me well.
Apparently, Wanta in court activity was also named a trustee for the funds, amounting to a settlement of 4.5 trillion dollars from an aggregate sum of 27 trillion he allegedly raised from 200 banks which compounded to 70 trillion a few years ago)...
...that he was asked to raise by the Reagan/Bush Administration (probably G. Bush and B. Casey via NSA's B. McFarland on behalf of the Fed or more likely Sir Wm. Stephanson head of Bank of England at the time -- (or otherwise directed by George Shultz representing Bechtel representing the Fed &/or City of London) for the purposes of financial destabilization of the Soviet Union & Eastern Europe.
The implication is our current financial mess and the European and geo-political financial mess is due to the misappropriation of the dissemination of the alleged 70 trillion dollars, 4.5 trillion immediately due to China &/or the Bank of England --
-- while
the note on the alleged 27 trillion originally borrowed is due 2012 at 7.5% interest and it remains unclear as to that will be another taxpayer bailout and if U.S. and British citizens will be charged.
An alleged controversy currently ensues among the G-8/9 as Wanta, allegedly a U.S. Treasury Secret Service official had allegedly wanted to return the money to the U.S. Treasury and use 10-12 trillion to pay off the Fed and use 50 trillion to revitalize the world economy through the G-8.
It's unclear how alleged siphoning of the funds interacted with BCCI/ICIC and its successor, whoever that is ... perhaps the largest bank in the world in China, ICBC.
Unfortunately, Mr. Wanta was since imprisoned then freed then declared to be in diminished capacity, so it's difficult to research this area as it's currently blacked out in the media, presumably by the intelligence community. Apparently it was President Reagan's wish for the money to remain the property of the U.S. Treasury, if indeed, it ever existed.
I'm trying to locate the other court documents that apply in these matters. here's an additional reference for similarly interested parties: UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA, Civil Action no.: 1-07 CV 609
On or about April 15, 2003 the Honorable Gerald Bruce Lee, in Case Number 02-1363-A filed in the United States District Court for the Eastern District of Virginia, issued an Order and Memorandum of Opinion for the referenced numbered case. … As part of the Order and Memorandum of the Court (in the referenced case) the Court stated that the Plaintiff (in the referenced case) should pursue liquidation of corporations, recovery of financial assets and pay all required taxes in accordance with the law.
…[11.] Upon best information and belief in December 2005 and January 2006, Secretary Snow (Secretary of the Treasury at the time) and Chairman Greenspan (Chairman of the Federal Reserve at the time) traveled to the People’s Republic of China. The Chinese required confirmation of Petitioner’s signature to facilitate cooperation of the Chinese in completing the transfer of financial assets referenced herein. Upon best information and belief Snow/Greenspan determined that Chinese officials had the ability and willingness to cooperate with petitioner in the recovery and transfer of substantial financial assets that had been in the care, custody and control of the Chinese for an extended period of time.
…[13.] In May of 2006 the People’s Republic of China caused a free and unrestricted transfer of $4.5 Trillion United States Dollars through international bank fund transfer facilities to an account at Bank of America located at Richmond, Virginia. The designated beneficiary of the transferred funds from the People’s Republic of China was Petitioner herein. This transfer was made by the People’s Republic of China solely and exclusively as a requirement under the mentioned settlement agreement.
…[14.] Upon best information and belief between the dates of July 31st to August 2nd of 2006 the United States Department of
the Treasury, without authorization of either the remitting party or the receiving party removed the People’s Republic of China transferred financial assets from Bank of America Richmond, Virginia to an account in the name of Goldman Sachs at CITIBank New York, NY
as the beneficiary holder of the monies transferred by the People’s Republic of China referenced above.
This “Chip” (Clearing House Interbank Payment) transfer was facilitated from Virginia domiciled banks to New York domiciled banks via the Federal Reserve Bank Richmond. The Chip transfer did not remove the name of Petitioner as the intended recipient of the transferred money from the People’s Republic of China.
The transfer to the Goldman Sachs et al account at CITIBank put a lawless restriction that the funds were not to be released to Petitioner without the authorization of United States Treasury.
At or about the time of the unauthorized transfer mentioned in this paragraph 14
Petitioner protested the alleged right of “entitlement” by Secretary Paulson and to facilitate protest of right of ownership under the “Securities Acts” accounts were opened in the name of AmeriTrust Groupe, Inc. at Morgan Stanley, fiduciary client account at CITIBank/NYC to receive direct deposit transfer of Petitioner funds from Goldman Sachs.
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However, it remains undocumented if it was People's Republic or Bank of England that remitted the 4.5 trillion to be used as a settlement in the case -- as both are alleged by the same source in a contradictory manner.
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also: Sir Leo Wanta's Petition for a Writ of Mandamus in the U.S. District Court for the Eastern District of Virginia -- Civil Action no.: 1-07 CV 609, in his complaint against the Fed and U.S. Treasury and Citibank for allegedly withholding his alleged 4.5 trillion dollar settlement award. Thank you very much for your helpfullness.
I've written the story but if I sneeze it jumps from 600 words to 1,500 words BUT I don't just want to parrot Wanta's side so I'm scrapping it & just want to do initially a couple hundred words based on court documentation and Reagan Library semi-recently declassified and released documents AND I hope to hear back from a researcher referred to me by an attorney who represents CIA agents who become whistleblowers and informants.
I'm in the process of getting together the court case documentation on the alleged 4.7 trillion dollar settlement (and the missing 71 trillion). It's a huge story and the best way to approach it is in bite size pieces (that are documented with court cases, as suggested.) I've been working on this 18 hours a day for 7-10 days and am finally getting down to navigating the issue(s).
The problem is that much of the documentation is by Wanta, and that's not objective, since he's the plaintiff. Can you get the following?
(1) April 15, 2003 the Honorable Gerald Bruce Lee, in Case Number 02-1363-A filed in the United States District Court for the Eastern District of Virginia, issued an Order and Memorandum of Opinion for the referenced numbered case. … part of the Order and Memorandum of the Court
(2) UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF VIRGINIA, ----Civil Action no.: 1-07 CV 609
(3) I hope your office can get 40 pages of recently declassified info from Reagan library for $30. I can't afford it, I'm on a fixed income. entitled:----Foyer 2005-167, Chief Justice John Roberts' files on Wanta Case also get ----Case Number 02-1363-A
Originally posted by mike dangerously
CT,interesting article although I think this facist take over of our government was a long term goal of the Bush family check out Prescott Bush and his connections to the Nazis.
note opening phrase is deception arguing against conspiracy
WASHINGTON - In a rare coordinated move,
the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown.
Markets retreated, though, on worries that the move was too little, too late.
The Fed reduced its key rate from 2 percent to 1.5 percent. In Europe, which also has been hard hit by the financial crisis, the Bank of England cut its rate by half a point toand the European Central Bank sliced its rate by half a point to 3.75 percent.
4.5 percent
The central banks of China, Canada, Sweden, and Switzerland also cut rates. The Bank of Japan said it strongly supported the actions.
"The recent intensification of the financial crisis has augmented the downside risks to growth," the Fed said in explaining the coordinated action, the latest in a series of bold moves meant to pry open tight lending and revive the global economy.
The Dow Jones industrials, already down 875 points this week, fell another 150, and all the major indexes were down sharply.
The Fed's action will reduce borrowing costs almost immediately for U.S. bank customers whose home equity and other floating-rate loans are tied to the prime interest rate. Bank of America, Wells Fargo and other banks cut their prime rate by half a point to 4.5 percent after the Fed announcement.
White House spokesman Tony Fratto welcomed the cooperation among the Fed and other countries' central banks to battle the crisis. "It's important and helpful that central banks are working in a coordinated way to deal with stress in the financial system," Fratto said.
The country's presidential contenders also embraced the action. "This is a global crisis that requires a global solution," said Democrat Barack Obama. Republican rival John McCain hoped it would contain the "financial crisis spreading across the globe."
Some analysts were skeptical that the coordinated rate reductions would do much to turn things around.
Additional rate cuts are likely and further measures to inject liquidity and re-capitalize banks are needed," said Marc Chandler, global head of currency strategy at the investment firm Brown Brothers Harriman.
"At first blush, while this is a big step, it is unlikely to prove sufficient to stem the rot.
The rate cuts came against a backdrop of increasing anxiety in global financial markets. Investors have been fleeing shares on worries that neither the Fed, nor other central banks, could move fast enough to stop the rising turmoil.
European indexes, which were down about 5 percent before the rate cut, pared only some of their losses. In Britain, the FTSE-100 fell 4.24 percent, Germany's DAX dropped 4.98 percent, and France's CAC-40 dropped 4.58 percent.
In Asia, Japan's Nikkei 225 closed 9.38 percent lower and Hong Kong's Hang Seng tumbled 8.17 percent hours before the rate cuts were announced; their declines showed the extent of the worldwide gloom.
The worldwide gloom follows a sell-off in U.S. markets late Tuesday, where major stock indexes slid 5 percent. The rout brought the Dow Jones industrials' losses to more than 875 points in two days, and its close was the lowest close in five years. The blue chip index is now around 33 percent below its record close of 14,164.53 a year ago.
The Fed's action Wednesday was the latest in a long series of moves over the last several weeks that the central bank has taken in coordination with other federal agencies, Congress and the White House to shore up a financial industry stung by bad loans, mounting losses and — in many cases — collapse. President Bush signed a $700 billion financial bailout bill into law on Friday.
The Fed's action reversed its current policy on interest rates, which had been to hold them steady out of concern that more cuts would fuel inflation. Since Fed Chairman Ben Bernanke and his colleagues put a stop to interest-rate cuts in June, economic and financial conditions have deteriorated significantly.
The U.S. unemployment rate could hit 7 or 7.5 percent by late 2009. If that happens, it would mark the highest rate of joblessness since the months immediately following the 1990-91 recession.
Some economists say the jobless rate could rise even more before the situation starts to get better.
In 1999, the Depository Trust & Clearing Corporation (DTCC) was created as holding company for the Depository Trust Company (DTC) and National Securities Clearing Corporation (NSCC). Each of those companies had been established decades earlier in an effort to convert paper trading transactions into electronic transactions.
DTCC's
DTC depository provides custody and asset servicing for 3.5 million securities issues, comprised mostly of stocks and bonds, from the United States and 110 other countries and territories, valued at $40 trillion, more than any other depository in the world.
In 2007, DTCC settled the vast majority of securities transactions in the United States, more than $1.86 quadrillion in value.
(from 'Ming the Mechanic: The unknown 20 trillion dollar company'-- ming.tv... In brief, they process the vast majority of all stock transactions in the United States as well as for many other countries. And - and that's the real interesting part - 99% of all stocks in the U.S. appear to be legally owned by them.
--from the source www.businessandmedia.org...
Ward determined Fuld deserved the beating based on his testimony before the committee. “I thought he was shameless,” Ward said. “I thought it was appalling. He blamed everyone. He blamed, as you say, ‘naked short sellers’ over and over in case we didn’t get the point, when in fact hedge funds like Harbinger had money locked up in Lehman and was shorting it to try and make the most of the money that they already had. He blamed everybody but himself.”
While former Lehman CEO Richard Fuld was testifying before the House Oversight Committee Oct. 6, CNBC reported he had been punched in the face at the Lehman Brothers gym after it was announced the firm was going bankrupt. CNBC and Vanity Fair contributor Vicki Ward said Fuld was attacked at the gym on a Sunday following the bankruptcy.
“Frankly, I sat there and listened and I’m with the guy who apparently, the day before Barclays announced they were coming in and Lehman had already filed for bankruptcy, went over to him in the gym and punched him because that’s how I feel when I, you know, when I watched that,” Ward said on the Oct. 6 “Power Lunch.” “I didn’t think he was contrite at all, I thought he was arrogant.”
August, 2008 cover story of The Nation Magazine, William Greider wrote:
to restore an equitable balance between competing goals and interests--seeking full employment but also stable money and moderate inflation.
"Assign the Federal Reserve's regulatory role to a new public agency that is visible and politically accountable. Make the Fed a subsidiary agency of the Treasury Department and reform its decision-making on money and credit
The American Monetary Act. (Please see it at our website at www.monetary.org... It is summarized on less than a page in the attached Green Party's monetary plank.
Three really important developments to report:
First is from Congressman Dennis Kucinich, who briefly and inspiringly addressed our conference by telephone, under the pressure of the developing crisis in Washington. Please read especially point number 16 below:
Kucinich’s Main Street Recovery Plan
(This plan includes programs on the following 16 points, abbreviated here)
1. Health Care for All and Medicare for All
2. Prescription Drug Benefit for Seniors
3. Stop the Oil Companies’ Price Gouging
4. Protecting the American Homestead
5. Jobs for All
6. American Manufacturing Policy
7. Works Green Administration
8. Fair Trade
9. Education for All
10. Protecting Pensions
11. Social Security
12. Protect Bank Deposits
13. Protect Investors
14. Strength through Peace
15. Safety in America
and last but most important point of all -
16. Monetary Policy
..It is long past the time that we looked at the implications of our debt based monetary system, the privatization of money created by the 1913 Federal Reserve Act, the banks fractional reserve system and our debt-based economic system. Unless we have dramatic reform of monetary policy, the entire economic system will continue to accelerate wealth upwards.
I am currently working on drafting legislation for an 'American Monetary Act' to address these and other issues in order to protect the economic wellbeing of America."
Congressman Dennis Kucinich
Tom Hartman of Air America Radio, and William Greider of The Nation Magazine. On July 22nd after Thom interviewed me he said:
"We need two major reforms - We need electoral reform so our votes count and we need monetary reform. We have to nationalize the Federal Reserve System."
www.monetary.org...
Sincerely, Stephen Zarlenga
Originally posted by seabisquit
I did not think much of the power of the neo-nazis until I moved to a small German community in Texas. Over the years I have learned that it is a hotbed for neo-nazi and kkk activities ... also a grand dragon of the kkk that lives on a para-military ranch here.
Thank you for your request. FOIA F05-167 does not corroborate Wanta's status as an intelligence operative. It is simply a FOIA request for all materials relating to Leo Wanta in the Reagan Library.
None of the material in our holdings relating to Wanta are or were classified. Before the FOIA request, they were unprocessed, and therefore unavailable to research. Since we now have processed these files, they are available to research. Some documents have been redacted for personal privacy information (either his or other persons), but not for national security reasons.
Unfortunately, none of the material is digitized at this time. You may order copies using your credit card or by check made payable to the National Archives Trust Fund-Reagan Library. If you want all the material regarding Leo Wanta, there are 46 pages total for a cost of $25.50 (we are not charging for marker sheets which do not contain any additional information).
The [Supreme Court Chief Justice] John Roberts file containing 2 pages relating to Leo Wanta is restricted under the Privacy Act and is not available. However, a description of the restricted documents is included in the $25.50 listed above.
Also, I just wanted to clarify that these materials were not "declassified" or "cleared" by the National Security Agency as the article you read to me over the phone suggests. These materials were never classified nor did the National Security Agency have any interests in these files. They have been released by the National Archives and Records Administration which operates the Reagan Library.
I hope this information is useful to you.
Sincerely, Archivist, Ronald Reagan Presidential Library, 40 Presidential Drive, Simi Valley, CA 93065
Around the world, banks must comply with what are known as Basel II regulations [that] determine how much capital a bank must maintain in reserve. .. .The riskier the loans a bank owns, the more capital it must keep in reserve. ... AIG appeared to offer banks a way to get around the Basel rules, via unregulated insurance contracts, known as credit default swaps.
'The collapse of the U.S. economy was a planned event to enslave the poor and middle class', at: www.abovetopsecret.com...
, $4.5 trillion which were repatriated in May and June 2006 to fund the long-planned refinancing, are available at Bank of America, Richmond, VA, earmarked for Leo Wanta's financial trading organization, but have not been credited to his company's account.
Under an accord with the US authorities and Treasury agreed last November and signed in December [2005]
Another 1/6th is the general apathy of the public around the world,also CT.Very few people are aware of just who or what drives this world.
Originally posted by counterterrorist
Originally posted by mike dangerously
CT,interesting article although I think this facist take over of our government was a long term goal of the Bush family check out Prescott Bush and his connections to the Nazis.
Well the butthead Bush clan certainly drove in the final stake ... but I think they to a large extent are about 1/6th of the total blame.
Another 1/6th is in Germany in their German counterparts.
Another 1/6th is in Britain w/their British counterparts.
Another 1/6th is Rockefellor.
Another 1/6th is the Vatican.
Another 1/6th is in America w/their U.S. counterparts.
Maybe there's a top 10, and it's not 6ths at all.
Any to add? (I'm counting bankers such as Fed, Bank of England, Bundesbank, Bank of International Settlements as parts of German, British, & U.S. Bush counterparts).
[edit on 8-10-2008 by counterterrorist]
WASHINGTON/ COLOMBEY-LES-DEUX-EGLISES, France (Reuters) - The IMF warned on Saturday that the global financial system was on the brink of meltdown, while France and Germany pushed ahead with a pan-European crisis response to try to prevent the worst global downturn in decades.
cont.
At a joint news conference, French President Nicolas Sarkozy and German Chancellor Angela Merkel said they had "prepared a certain number of decisions" to present at a Sunday meeting of European leaders as they work feverishly to restore blocked credit markets to working order.
The United States appealed for patience, but the International Monetary Fund stressed that time was running short after leading industrialized nations failed to agree on concrete measures to end the crisis at a meeting on Friday.
"Intensifying solvency concerns about a number of the largest U.S.-based and European financial institutions have pushed the global financial system to the brink of systemic meltdown," IMF chief Dominique Strauss-Kahn said.
President George W. Bush huddled with Group of Seven economic chiefs and officials from the IMF and World Bank, and said top industrial nations grasped the gravity of the crisis and would work together to solve it.
"I'm confident that the world's major economies can overcome the challenges we face," Bush said, adding that Washington was working as fast as possible to implement a $700 billion financial bailout package approved a week ago.
"The benefits will not be realized overnight, but as these actions take effect, they will help restore stability to our markets and confidence to our financial institutions."
Confidence has been in short supply and panic has swept through global markets, driving stocks to a five-year low on Friday and prompting banks to hoard cash. That has choked off lending to businesses and households, threatening to turn a global economic slowdown into a dangerously deep recession.
U.S. Treasury Secretary Henry Paulson said risks to the global economy were "the most serious and challenging in recent memory."
EUROPEAN UNITY
An emergency meeting of euro zone leaders on Sunday will discuss a bank rescue package, taking a British initiative to guarantee lending between banks as a reference point, a source close to the French presidency said.
France's Sarkozy said euro zone countries were working on a joint solution, but declined to provide specifics. He planned to meet with British Prime Minister Gordon Brown shortly before Sunday's euro zone gathering.
Britain's rescue plan, launched last week, makes available 50 billion pounds ($86 billion) of taxpayers' money for injection into its banks and, crucially, calls for underwriting interbank lending, which has all but frozen around the globe.
Germany was also considering injecting capital into its banks, Merkel said on Saturday.
The world's rich nations vowed on Friday to take all necessary steps to unfreeze credit markets and ensure banks can raise money but they offered no specifics on a collective course of action to avert the recession threat.
In a surprisingly brief statement after a 3-1/2 hour meeting, the G7 -- the United States, Britain, Canada, France, Germany, Italy and Japan -- stopped short of backing the British interbank lending guarantee, something many on Wall Street saw as vital to end growing market panic.
Kenneth Rogoff, a Harvard University professor and former IMF chief economist, said the G7 would have been better served adopting some version of the British plan so that banks would feel confident enough to loosen their grip on lending.
"Saying that they'll take all steps necessary leaves hanging the question of whether they know what is best and necessary," he told Reuters. "It was a signature moment for the G7. I think markets are going to be very disappointed."
European Central Bank President Jean-Claude Trichet said markets needed time to digest a series of dramatic steps taken by world central banks in recent days, including pouring billions of dollars into financial markets and lowering interest rates in the broadest coordinated cut on record.
WORKING AROUND THE CLOCK
U.S. Treasury's Paulson said it was "naive" to think that the G7 would endorse a one-size-fits-all approach to ending the credit crisis because there were major differences between the countries and their financial systems.
He said the Bush administration was scrambling to put together a plan to buy direct stakes in American banks to shore up balance sheets riddled with heavy credit losses from the 14-month crisis that began with failing U.S. mortgage loans.
"We're going to do it as we can do it in a proper way that will be effective. Trust me, we're not wasting time, we're working around the clock," Paulson said late on Friday after the G7 meeting broke up.
But even as Paulson and his fellow finance ministers insisted that they were working as fast as possible, there were signs the economy was credit-starved and deteriorating fast.
The U.S. auto sector has been particularly hard-hit. General Motors has had talks with smaller rival Chrysler LLC about a merger that would combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to a source briefed on the matter.
Financial weekly Barron's reported that GM was preparing to approach the U.S. Federal Reserve about borrowing money directly from the central bank because the logjam in credit markets had shut it out of other kinds of borrowing.
We had just published “A Few Bad Men,” a report containing significant evidence that
thousands of potentially violent neo-Nazis, skinheads and other white supremacists were learning the art of warfare as members of the armed services.
A decade after the Pentagon declared a zero-tolerance policy for racist hate groups, recruiting shortfalls caused by the war in Iraq have allowed "large numbers of neo-Nazis and skinhead extremists" to infiltrate the military, according to a watchdog organization.
In March of this year, a courageous group of veterans brought the war home, at a historic event held in Silver Spring, Md., inspired by Vietnam veterans a generation before. "Winter Soldier: Iraq and Afghanistan" convened more than 200 soldiers who have served in the so-called "War on Terror;" like their fellow soldiers before them, who shared stories that laid bare the nightmare of Vietnam, these veterans bore witness to the crimes that have been committed in Americans' names during the occupation of Iraq and Afghanistan. The hearings lasted four days; in their testimony, soldiers described how the discarding of the military's rules of engagement and its systematic dehumanization of Iraqi and Afghan civilians has led to horrible acts of violence against innocent men, women and children. "These are not isolated incidents," was a common refrain, even as the episodes they described seemed exceptionally brutal. For many of the veterans, it was the first time they had told their stories.
Now, the searing testimony has been compiled in an important new book:
Winter Soldier: Iraq and Afghanistan: Eyewitness Accounts of the Occupation, edited by Aaron Glantz and published by Haymarket Books. I strongly encourage you to buy the book, preferably though the Web site ofAll proceeds of books purchased through IVAW will go to support its crucial work.
Iraq Veterans Against the War ivaw.org... , which organized the Winter Soldier hearings and continues to hold similar events in cities across the country.