Daily Archives: August 29, 2012

Mish/ Mike Shedlock – FED A Profit Center For Taxpayers? – 29 August 2012

Congratulations to CNBC for one of the silliest economic assertions in history. Please consider this sentence from Fed steps up release of results, says first-half income up.

Its release of first and second quarter results detailed a sharp rise to $46.447 billion in its payments to the Treasury, from $40.456 billion in the first six months of 2011, reminding U.S. taxpayers the Fed has been a significant source of income.Fed a Significant Source of Income?

Say what? From Federal Reserve FAQs
The Federal Reserve does not receive funding through the congressional budgetary process. The Fed’s income comes primarily from the interest on government securities that it has acquired through open market operations. Other sources of income are the interest on foreign currency investments held by the Federal Reserve System; fees received for services provided to depository institutions, such as check clearing, funds transfers, and automated clearinghouse operations; and interest on loans to depository institutions. After paying its expenses, the Federal Reserve turns the rest of its earnings over to the U.S. Treasury. Got that? The Fed receives interest on government debt. The more it bloats its balance sheet, the more interest it receives (from the government, courtesy of US taxpayers of course). Whatever the Fed does not waste on salaries and other expenses, it returns to the US treasury.

Somehow the authors of that article managed to turn the Fed into a significant, $46 billion, profit center for the US taxpayers. Wow.

Furthermore, by suppressing interest rates, the Fed has crucified those on fixed income. Also recall that Fed fueled the housing bubble in the first place by holding interest rates too low, too long, in its open market operations.

Mike “Mish” Shedlock
http://www.globaleconomicanalysis.blogspot.com link to original article

John Ward – Barclays : Did They Do Anything Straight Under Bob Diamond? – 29 August 2012

Robert E. Diamond is fond of saying that he never had to fall back on taxpayers’ money. It’s bollocks actually, because without it he couldn’t have bridged enough to buy Lehman in the US. But some of us did suggest when he made a beeline for the Arabs in 2008 that there was an air of desperation about the scramble. Continue reading

NaturalNews – J.D. Heyes – Fatal Security Flaw Discovered In Software That Controls U.S. Power Plants

(NaturalNews) A cyber-security specialist has discovered a flaw in the software that allows hackers to spy on and attack the communication of critical infrastructure operators of power plants, water systems, dams and more, and gain access to the credentials of computer systems which control those critical systems – claims the U.S. government is investigating. Continue reading

John Ward – As Draghi Scratches At The Spanish Flea, The German Flea Look East – 29 August 2012

Merkel heads to Beijing in search of options

Mario Draghi sits anxiously in Frankfurt watching for any signs of crumbling bank foundations in Spain. Reggie Middleton over at Zero Hedge (superb analysis this) agrees with me that the biggest euro-danger at the moment is a bank-run, not a sovereign default…he thinks France might beat Spain to it. But in Berlin, all is calm. For unsere geliebte Känzlerin is leaving on a jet plane bound for Beijing. Continue reading

Lee Caroll – Kryon – Live Channeling Patagonia Cruise February 2012 – The Big Picture – You Are Not Alone – 29 August 2012

To help the reader, this channelling has been revisited [by Lee and Kryon] to provide even clearer understanding. Often what happens live has implied energy within it, which carries a kind of communication that the printed page does not. So enjoy this enhanced message given on the Kryon Patagonia Cruise 2012. Continue reading

Juan Cole – White Terrorist Plot To Assassinate The ‘Commander In Chief’ – 29 August 2012

A white terrorist cell on a military base in Georgia plotted to assassinate President Barack Obama and stage a military coup. It murdered two former members of the cell. It bought $87,000 of military grade weaponry and land in Washington state. It planned to bomb a dam in Washington and poison its apple crop. It planned to take over Fort Stewart in Georgia. Continue reading

Sophia Love – A Purse Overflowing – 29 August 2012

Picture Who will you be?  This is the choice before you now.  Love or fear?

Everything you do, everyone you run into, everything you eat and wear and say and think – it’s all a statement of who you are creating.  She’s who will walk through the last third of this year.  By choice; your choice.  Continue reading

Enigmax – (R)Evolutionary: MegaUpload’s Kim Dotcom To Build ‘Massive Global Network’ That Will ‘Turn This World Upside Down’, Counter NSA’s Echelon Program – 29 August 2012

(Torrent Freak) Several weeks ago Kim Dotcom informed the world that Megaupload would be back, bigger and better than ever. Today, in a series of announcements he’s provided more intriguing details about the new service. “We are building a massive global network,” Dotcom revealed, while adding that hosters will all be able to connect to the network to add servers and bandwidth – providing they’re not in the United States that is. “ Continue reading

Suzanne Lie – Mytre And The Acturians – Part 2 – Mastering Thought And Perceiving With Emotion – 29 August 2012

MYTRE CONTINUES:
When the Arcturian kindly mentioned my thinking, I had to laugh. I realized that my out-of-control thinking was partially because I had been recalibrated to a frequency of resonance that I had never experienced before.
I also recognized that I was frightened because my thoughts and emotions were out of alignment with my new body. I remembered the Elohim that Mytria and I had met within the Womb of the Mother long, long ago. However, I had never met an Arcturian, much less experienced a frequency rate of beingness that allowed me to perceive and interact with them. Continue reading

Gloria Wendroff – The Heaven Letters – Be A Knight In Shining Armor – 29 August 2012

God said:

There is a world of difference between understanding and judgment. Understanding doesn’t mean admiring. It means understanding. With understanding comes a certain realization that the so-called other person before you is doing the best he can. Whether doctor, merchant, beggarman, thief, the person before you is doing the best he can at this moment. He really doesn’t know better, even if you think he should. Here’s the thing: There is a portion of your psyche that visits where that person is, and, so, you dislike where that person is. You dislike another’s affront more than you would if you did not contain within you, no matter how residual, what the other person reflects to you. Continue reading