159-ARE WE NOW IN THE END TIMES? | View Thread

Mood changing rapidly towards a full Glass-Steagal separation of retail and investment banking

The German regulatory equivalent of the FSA, BaFIN, on Friday announced an investigation into Libor/Euribor fraud. Reuters I think had the story first after Der Spiegel, which noted ‘Two Deutsche Bank employees have been suspended after it used external auditors to examine whether staff were involved in manipulating interbank lending rates.’

Yesterday, I posted at length about the blindingly obvious connotations of the FSA’s basis for accusing Barclays – viz, that it was more concerted, international and longstanding than either the MSM or the Tory Party care to admit. This has now been recognised by Brussels, which is mullig new criminal laws a proposal to cover ‘the manipulation of market indices across the EU and a fundamental review of the rules on how Libor is set.’

Michel Barnier, the EU commissioner overseeing financial services, will amend reforms to EU market abuse rules so that potential “loopholes” are closed and criminal sanctions to specifically cover lying about Libor and Euribor. Yesterday, Barnier called mendacious reportig of such benchmark rates a “betrayal” with potentially “systemic consequences”.

And in the US, Barney Frank told the FT that banks “monkeying” with Libor for their own benefit was “outrageous”.

Their own culture of sociopathic iniquity has brought this new regulatory clamp-down onto the heads of investment bankers. Although the naif Dan Hannan still chirrups away about regulation as if it were some form of leprosy, wiser heads who know what they’re talking about (and have a weakness for the odd ethic here and there) disagree. In an interview with the Evening Standard three days ago, old hand Peter Hambro argued for a full-on Glass-Steagal separation between retail and investment banking. Curiously, he referred to retail banks ‘lending to the real economy, and thus operating with a government backed guarantee of deposits’, while he thought merchant bankers should operate only with unlimited liability, and get nothing from the taxpayer at all. I agree with him, but am left wondering what exactly the point then is of such banks per se.

Certainly, if Matt Levine is to be believed, the Next Big Thing in the investment banking sector (to provide a rationale for its existence) is the selling of derivatives contracts to itself as a hedge against identical derivatives contracts it has on the balance sheet. Levine writes:

‘I think [this Credit-Suisse wheeze] says “if our counterparty doesn’t pay us when this derivative, which is in-the-money if our other counterparties don’t pay us when their derivatives are in-the-money, is in-the-money, then we’ll just pay ourselves ourselves.”’

Yes, things truly are that mad. But Peter Hambro in the Standard was reassuringly outspoken:

“It’s this unlimited liability that made merchant — or investment — bankers more circumspect in the past because they put their balls on the block,” he said. “But most of today’s financial problems are because the investment bankers, using the balance sheets of the retail banks, don’t share in the pain. They don’t lose anything — and their culture has infected retail banking. They should never have been together and now they should be split, completely.”

Hallelujah for sound experience, honesty, and common sense. But who was it who repealed Glass-Steagal completely? Step forward Dick Nixon, the most disgraced President in American history.

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 7/10/2012 2:40:29 AM
	Big Pharma no longer a conspiracy theory: Bribery, fraud, price fixing now a matter of public record Monday, July 09, 2012 by Mike Adams, the Health Ranger Editor of NaturalNews.com (See all articles...) (NaturalNews) Those of us who have long been describing the pharmaceutical industry as a "criminal racket" over the last few years have been wholly vindicated by recent news. Drug and vaccine manufacturer Merck was caught red-handed by two of its own scientists faking vaccine efficacy databy spiking blood samples with animal antibodies. GlaxoSmithKline has just been fined a whopping $3 billion for bribing doctors, lying to the FDA, hiding clinical trial data and fraudulent marketing. Pfizer, meanwhile has been sued by the nation's pharmacy retailers for what is alleged as an "overarching anticompetitive scheme" to keep generic cholesterol drugs off the market and thereby boost its own profits. The picture that's emerging is one of a criminal drug industry that has turned to mafia tactics in the absence of any real science that would prove their products to be safe or effective. The emergence of this extraordinary evidence of bribery, scientific fraud, lying to regulators and monopolistic practices that harm consumers is also making all those doctors and "skeptics" who defended Big Pharma and vaccines eat their words. To defend Big Pharma today is to defend a cabal of criminal corporations that have proven they will do anything -- absolutely anything -- to keep their profits rolling in. It makes no difference who they have to bribe, what studies they have to falsify, or who has to be threatened into silence. They will stop at nothing to expand their profit base, even if it means harming (or killing) countless innocents. Let's take a look at recent revelations: GlaxoSmithKline pleads guilty to bribery, fraud and other crimes It what is now the largest criminal fraud settlement ever to come out of the pharmaceutical industry, GlaxoSmithKline has pleaded guilty and agreed to pay $1 billion in criminal fines and $2 billion in civil fines following a nine-year federal investigation into its activities. According to U.S. federal investigators, GlaxoSmithKline (http://www.naturalnews.com/036416_GlaxoSmithKline_fraud_criminal_char...): • Routinely bribed doctors with luxury vacations and paid speaking gigs • Fabricated drug safety data and lied to the FDA • Defrauded Medicare and Medicaid out of billions • Deceived regulators about the effectiveness of its drugs • Relied on its deceptive practices to earn billions of dollars selling potentially dangerous drugs to unsuspecting consumers and medical patients And this is just the part they got caught doing. GSK doesn't even deny any of this. The company simply paid the $3 billion fine, apologized to its customers, and continued conducting business as usual. By the way, in addition to bribing physicians, GSK has plenty of money to spread around bribing celebrities and others who pimps its products. The company reportedly paid $275,000 to the celebrity doctor known as "Dr. Drew," who promoted Glaxo's mind-altering antidepressant drug Wellbutrin (http://naturalsociety.com/top-radio-doctor-paid-by-glaxosmithkline-to...). As the Wall Street Journal reports: In June 1999, popular radio personality Dr. Drew Pinsky used the airwaves to extol the virtues of GlaxoSmithKline PLC's antidepressant Wellbutrin, telling listeners he prescribes it and other medications to depressed patients because it "may enhance or at least not suppress sexual arousal" as much as other antidepressants do. But one thing listeners didn't know was that, two months before the program aired, Dr. Pinsky -- who gained fame as "Dr. Drew" during years co-hosting a popular radio sex-advice show "Loveline" -- received the second of two payments from Glaxo totaling $275,000 for "services for Wellbutrin." (http://online.wsj.com/article/SB1000142405270230393340457750503200685...) Merck falsified vaccine data, spiked blood samples and more, say former employees According to former Merck virologists Stephen Krahling and Joan Wlochowski, the company: (http://www.naturalnews.com/036328_Merck_mumps_vaccine_False_Claims_Ac...) • "Falsified test data to fabricate a vaccine efficacy rate of 95 percent or higher." • Spiked the blood test with animal antibodies in order to artificially inflate the appearance of immune system antibodies. • Pressured the two virologists to "participate in the fraud and subsequent cover-up." • Used the falsified trial results to swindle the U.S. government out of "hundreds of millions of dollars for a vaccine that does not provide adequate immunization." • Intimidated the scientists, threatening them with going to jail unless they stayed silent. This is all documented in a 2010 False Claims Act which NaturalNews has acquired and posted here: http://www.naturalnews.com/gallery/documents/Merck-False-Claims-Act.p... Millions of children put at risk by Merck In that document the two virologists say they, "witnessed firsthand the improper testing and data falsification in which Merck engaged to artificially inflate the vaccine's efficacy findings." They also claim that because of the faked vaccine results, "the United States has over the last decade paid Merck hundreds of millions of dollars for a vaccine that does not provide adequate immunization... The United States is by far the largest financial victim of Merck's fraud." They go on to point out that children are the real victims, however: "But the ultimate victims here are the millions of children who every year are being injected with a mumps vaccine that is not providing them with an adequate level of protection. ...The failure in Merck's vaccine has allowed this disease to linger with significant outbreaks continuing to occur." Merck's mumps viral strain is 45 years old! According to the complaint, Merck has been using the same mumps strain -- weakened from generations of being "passaged" -- for the last 45 years! The complaint reads: "For more than thirty years, Merck has had an exclusive license from the FDA to manufacture and sell a mumps vaccine in the U.S. The FDA first approved the vaccine in 1967. It was developed by Dr. Maurice Hilleman, at Merck's West Point research facility, from the mumps virus that infected his five year-old daughter Jeryl Lynn. Merck continues to use this 'Jeryl Lynn' strain of the virus for its vaccine today." A complete medical farce This information appears to show Merck's mumps vaccine to be a complete medical farce. Those who blindly backed Merck's vaccines -- the science bloggers, "skeptics," doctors, CDC and even the FDA -- have been shown to be utter fools who have now destroyed their reputations by siding with an industry now known to be dominated by scientific fraud and unbounded criminality. That's the really hilarious part in all this: After decades of doctors, scientists and government authorities blindly and brainlessly repeating the mantra of "95% effectiveness," it all turns out to be total quackery hogwash. Utterly fabricated. Quackety-quack quack. And all those hundreds of millions of Americans who lined up to be injected with MMR vaccines were all repeatedly and utterly conned into potentially harming themselves while receiving no medical benefit. Intelligent, informed NaturalNews readers, home school parents, and "awakened" people who said "No!" to vaccines are now emerging as the victors in all this. By refusing to be injected with Merck's vaccines, they avoided being assaulted with a fraudulent cocktail of adjuvant chemicals and all-but-useless mumps strains over four decades old. They protected their time, money and health. Those who refuse to be physically violated by vaccines are, once again, turning out to be the smartest people in society. No wonder they also tend to be healthier than the clueless fools who line up to get vaccinated every year. Merck fraudulently misrepresented the efficacy of its vaccine and contributed to the spread of infectious disease, says lawsuit The faked vaccine efficacy numbers aren't the only troubles Merck is now facing. Shortly after the above False Claims Act was made public, Chatom Primary Care filed suit against Merck. That document is available from NaturalNews at: http://www.naturalnews.com/gallery/documents/Chatom-Lawsuit-Merck-Mum... It alleges that: • [Merck engaged in] ...a decade-long scheme to falsify and misrepresent the true efficacy of its vaccine. • Merck fraudulently represented and continues to falsely represent in its labeling and elsewhere that its Mumps Vaccine has an efficacy rate of 95 percent of higher. • Merck knows and has taken affirmative steps to conceal -- by using improper testing techniques and falsifying test data -- that its Mumps Vaccine is, and has been since at least 1999, far less than 95 percent effective. • Merck designed a testing methodology that evaluated its vaccine against a less virulent strain of the mumps virus. After the results failed to yield Merck's desired efficacy, Merck abandoned the methodology and concealed the study's findings. • Merck also engaged in "incorporating the use of animal antibodies to artificially inflate the results... destroying evidence of the falsified data and then lying to an FDA investigator... threatened a virologist in Merck's vaccine division with jail if he reported the fraud to the FDA." • "Merck designed a testing methodology that evaluated its vaccine against a less virulent strain of the mumps virus. After the results failed to yield Merck's desired efficacy, Merck abandoned the methodology and concealed the study's findings. [Then] Merck designed even more scientifically flawed methodology, this time incorporating the use of animal antibodies to artificially inflate the results, but it too failed to achieve Merck's fabricated efficacy rate. Confronted with two failed methodologies, Merck then falsified the test data to guarantee the results it desired. Having achieved the desired, albeit falsified, efficacy threshold, Merck submitted these fraudulent results to the FDA and European Medicines Agency." • "Merck took steps to cover up the tracks of its fraudulent testing by destroying evidence of the falsified data and then lying to an FDA investigator... Merck also attempted to buy the silence and cooperation of its staff by offering them financial incentives to follow the direction of Merck personnel overseeing the fraudulent testing process. Merck also threatened... Stephen Krahling, a virologist in Merck's vaccine division from 1999 to 2001, with jail if he reported fraud to the FDA." • "Merck continued to conceal what it knew about the diminished efficacy of its Mumps Vaccine even after significant mumps outbreaks in 2006 and 2009." Obama administration has zero interest in actual justice Another interesting note in all this is that under President Obama, the U.S. Dept. of Justice showed no interest whatsoever in investigating Merck over the False Claims Act filed by two of its former virologists. Despite the convincing evidence of fraud described in detail by insider whistleblowers, the Obama Department of Justice, led by gun-running Attorney General Eric Holder who is already facing serious questions over Operation Fast and Furious, simply chose to ignore the False Claims Act complaint. When evidence of criminal fraud was brought before the U.S. Department of Justice, in other words, the DoJ looked the other way with a wink and a nod to the medical crimes taking place right under their noses. Who cares if tens of millions of children are being injected year after year with a fraudulent mumps vaccine? There's money to be made, after all, and exploiting the bodies of little children for profit is just business as usual in a fascist nation dominated by corporate interests. Pfizer sued by retailers over anticompetitive scheme Adding to all this, Pfizer has now been sued by five U.S. retailers (pharmacies) who accuse the company of monopolistic market practices. According to the lawsuit, Pfizer conspired to prevent generic versions of its blockbuster cholesterol drug Lipitor from entering the market. This was done to protect billions in profits while making sure patients did not have access to more affordable cholesterol drugs. Pfizer sells nearly $10 billion worth of Lipitor each year. According to the Reuters report on this lawsuit, Pfizer is being accused of (http://www.reuters.com/article/2012/07/05/us-pfizer-walgreen-lipitor-...): • Obtaining a fraudulent patent • Engaging in sham litigation • Entering a price-fixing agreement to delay cheaper generics • Entering arrangements with pharmacy benefit managers to force retailers to buy more Lipitor (chemical name is atorvastatin calcium) No arrests or prosecution of Big Pharma executives One of the most astonishing realizations in all this is that given all the criminal fraud, bribery, misrepresentation, lying to the FDA, price fixing and other crimes that are going on in the pharmaceutical industry, you'd think somebody somewhere might be arrested and charged with a crime, right? Nope. To date, not a single pharmaceutical CEO, marketing employee or drug rep has been charged with anything related to all this fraud. In America, drug company employees are "above the law" just like top mafia bosses of a bygone era. How insane is this, exactly? Consider this: Imagine if YOU, an individual, went around town bribing doctors, falsifying data, selling a fraudulent product to the government, lying to regulators, engaging in anti-trade price-fixing and threatening your employees into silence. What would happen to you? You'd probably wind up rotting in prison, the subject of an FBI investigation and a DoJ prosecution. So why is it okay for a multi-billion-dollar corporation to carry out these same crimes and get away with it? Why are the CEOs of top drug companies given a free pass to commit felony crimes and endless fraud? I'll tell you why, and you're not gonna like the answer: Because America has become a nation run by crooks for the benefit of crooks. It's one big country club, and as comedian George Carlin used to say, "YOU ain't in it!" If Big Pharma would falsify data on vaccines, what else would the industry do? I hope you're getting the bigger picture in all this, friends. If these drug companies routinely bribe doctors, falsify data, defraud the government and commit felony crimes without remorse, what else would they be willing to do for profit? Would they: • Falsify efficacy data on other prescription drugs? • Exploit children for deadly vaccine trials? • Invent fictitious diseases to sell more drugs? • Unleash bioweapons to cause a profitable pandemic? • Conspire with the CDC to spread fear to promote vaccinations? • Silence whistleblowers who try to go public with the truth? • Give people cancer via stealth viruses in vaccines? • Destroy the careers of medical scientists who question Big Pharma? • Force a medical monopoly on the entire U.S. population via socialist health care legislation? But of course they would. In fact, the industry is doing all those things right now. And if you don't believe me, just remember that five years ago, no one believed me when I said drug companies were engaged in criminal conspiracies to defraud the nation -- something that has now been proven over a nine-year investigation. Learn more: http://www.naturalnews.com/036417_Glaxo_Merck_fraud.html#ixzz20BPfeNKq
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
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Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 7/10/2012 2:50:09 AM
	RATE-RIGGING SCANDAL: as The Slog predicted, detection of the scam is going global. JULY 9, 2012 · 6:46 AM Mood changing rapidly towards a full Glass-Steagal separation of retail and investment banking The German regulatory equivalent of the FSA, BaFIN, on Friday announced an investigation into Libor/Euribor fraud. Reuters I think had the story first after Der Spiegel, which noted ‘Two Deutsche Bank employees have been suspended after it used external auditors to examine whether staff were involved in manipulating interbank lending rates.’ Yesterday, I posted at length about the blindingly obvious connotations of the FSA’s basis for accusing Barclays – viz, that it was more concerted, international and longstanding than either the MSM or the Tory Party care to admit. This has now been recognised by Brussels, which is mullig new criminal laws a proposal to cover ‘the manipulation of market indices across the EU and a fundamental review of the rules on how Libor is set.’ Michel Barnier, the EU commissioner overseeing financial services, will amend reforms to EU market abuse rules so that potential “loopholes” are closed and criminal sanctions to specifically cover lying about Libor and Euribor. Yesterday, Barnier called mendacious reportig of such benchmark rates a “betrayal” with potentially “systemic consequences”. And in the US, Barney Frank told the FT that banks “monkeying” with Libor for their own benefit was “outrageous”. Their own culture of sociopathic iniquity has brought this new regulatory clamp-down onto the heads of investment bankers. Although the naif Dan Hannan still chirrups away about regulation as if it were some form of leprosy, wiser heads who know what they’re talking about (and have a weakness for the odd ethic here and there) disagree. In an interview with the Evening Standard three days ago, old hand Peter Hambro argued for a full-on Glass-Steagal separation between retail and investment banking. Curiously, he referred to retail banks ‘lending to the real economy, and thus operating with a government backed guarantee of deposits’, while he thought merchant bankers should operate only with unlimited liability, and get nothing from the taxpayer at all. I agree with him, but am left wondering what exactly the point then is of such banks per se. Certainly, if Matt Levine is to be believed, the Next Big Thing in the investment banking sector (to provide a rationale for its existence) is the selling of derivatives contracts to itself as a hedge against identical derivatives contracts it has on the balance sheet. Levine writes: ‘I think [this Credit-Suisse wheeze] says “if our counterparty doesn’t pay us when this derivative, which is in-the-money if our other counterparties don’t pay us when their derivatives are in-the-money, is in-the-money, then we’ll just pay ourselves ourselves.”’ Yes, things truly are that mad. But Peter Hambro in the Standard was reassuringly outspoken: “It’s this unlimited liability that made merchant — or investment — bankers more circumspect in the past because they put their balls on the block,” he said. “But most of today’s financial problems are because the investment bankers, using the balance sheets of the retail banks, don’t share in the pain. They don’t lose anything — and their culture has infected retail banking. They should never have been together and now they should be split, completely.” Hallelujah for sound experience, honesty, and common sense. But who was it who repealed Glass-Steagal completely? Step forward Dick Nixon, the most disgraced President in American history. Vince Cable continues to be vilified for his entirely sensible (and as time has proved, 100% accurate) comments about Rupert Murdoch and investment banking, purely because he is a Big Stateist LibDem with a Labour Party background. It is childish stuff, but nothing blinkers an intelligent person more efficiently than adversarial playground politics. I started with a high regard for Dan Hannan, but it is falling with every polemically illogical tweet he makes….and this Irritable Quotation Syndrome he seems to have contracted is reaching risible proportions.
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+0

Michael... 9612 6893 Melbourne	RE: ARE WE NOW IN THE END TIMES? 7/10/2012 4:06:36 AM
	This is a MUST WATCH! Agenda 21 Exposed Agenda 21/ICLEI System to eliminate human population Incremental control over the supply of natural resources then remove their supply to the people. First Agenda 21 goes for the water and energy supply to destroy food production (agriculture's key factor is water), then energy (oil, gas, coal, hydro and nuclear) to shut down most heavy industries and precursor industrial processes that feed lighter industries. The population reduction follows at local, national and global level. Calorie intake begins to decline in the long term as poverty levels rise and food prices begin to increase. The key is the bureaucratic control by the government dept and private cartel, that interlocks to NGOs, international treaties, and government central planning of emission targets and levels of economic activity. This diagram displays the process. See the concepts here https://www.facebook.com/notes/agenda-21-exposed/agenda-21s-resource-control-concepts/393117420746295 — with UN Control over world economic resources, 7 billion humans, Resources used in the non-monopoly world economy, Wealth, Change process to control world economic resources, Factories, Water, Megadeath of 6.5 billion people, Energy, Target "sustainable world population at 500 million, Resource use reduction, Farmland, Minerals and World poor. Ron Paul Exposes Agenda 21 in The USA Ron Paul's ' Restore America Plan' Smashes Federal Tyranny
	https://envirogenic.com.au/ http://www.selectconceptstrading.com http://www.selectracing.com.au https://www.auslottogroup.com/selectracing http://australian.singlescrowd.com http://australiancontacts.ning.com http://www.amlam.com.au/rexiedexie http://australiancontacts.ning.com/profiles/blogs/singles-co-by-michael-j-clayton? http://oboads.com/my-ads.php?uid=rexiedexie
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Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 7/10/2012 3:55:55 PM
	Major Problems Facing Canada’s Nuclear Sector by Amy Boughner July 9, 2012 After the crisis at the Chalk River reactor that caused a worldwide shortage of medical isotopes in 2009, Canada’s nuclear industry is once again facing major issues. More than 800 Candu Energy employees are on strike as of the morning of July 9, looking for higher wages. The scientists, engineers and technologists work at Candu plants in Ontario, Quebec and New Brunswick. The plants they work in supply power around the world. Perhaps those employees should also be demanding safety in their workplace as well. At least one Candu plant – Gentilly-2 in Quebec – is decaying. The concrete and steel encasement that prevents radiation leaks at the plant could fail if the decay is allowed to continue, according to a 2010 report from the Canadian Nuclear Safety Commission (CNSC). The plant is one of many that regulators say is operating well past its expected life of 25 to 30 years, but the CNSC says it continues to be safe and has extended the plant’s license through 2016. Atomic Energy of Canada’s (AECL) solution to the issues that shut down Chalk River was to sell the Candu division to SNC-Lavelin (in a deal that saw the government essentially paying the engineering firm to take the division off their hands). AECL is also looking for a private partner for their nuclear labs in Chalk River. While AECL continues to try to find solutions to issues in the nuclear sector, the Harper government continues to focus on oil sands development rather than trying to develop a clean energy economy. The government also continues to attack anyone who questions this strategy. Will we have a real crisis before things start to change? We’ll have to wait and see. Related Stories: Germany Closes 7 Aging Nuclear Plants As EU Calls for Nuclear Plant Stress Tests Nuclear Energy Just Doesn’t Make Sense Japan’s Nuclear Crisis Shows There’s No Foolproof Script for Damage Control Read more: canada, energy, nuclear, politics Photo Credit: Topato Read more: http://www.care2.com/causes/major-problems-facing-canadas-nuclear-sector.html#ixzz20EePRO3n
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
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Big Pharma no longer a conspiracy theory: Bribery, fraud, price fixing now a matter of public record

GlaxoSmithKline pleads guilty to bribery, fraud and other crimes

Merck falsified vaccine data, spiked blood samples and more, say former employees

Millions of children put at risk by Merck

Merck's mumps viral strain is 45 years old!

A complete medical farce

Merck fraudulently misrepresented the efficacy of its vaccine and contributed to the spread of infectious disease, says lawsuit

Obama administration has zero interest in actual justice

Pfizer sued by retailers over anticompetitive scheme

No arrests or prosecution of Big Pharma executives

If Big Pharma would falsify data on vaccines, what else would the industry do?

RATE-RIGGING SCANDAL: as The Slog predicted, detection of the scam is going global.
JULY 9, 2012 · 6:46 AM

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Major Problems Facing Canada’s Nuclear Sector

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