Daily Archives: August 29, 2012

David Wilcock – Will There Be A “Quantum Awakening” In December 2012? – 29 August 2012

(Lucas : Discern Yourselves. Not everything your see, hear, read is your truth, the truth or is a distorted truth or even a blatant lie. Remember also people can be influenced or manipulated themselves or are manipulating or influencing you. Watch out if there are no hidden agendas or things that do not add up in the story, or if people get attacked or slandered without having a say or a fair  moment to defend themselves on allegations and accusations. In the end it is up to you what your truth is and what you decide. )
This beautiful, inspiring reading reminds us that there is only Identity — and makes some intriguing suggestions about what may occur at the end of this year.

Hurricane Isaac Makes 2nd Landfall; ‘Deep Flooding’ Expected After Overtopping At Levee – 29 August 2012

The Dunbar Pier on the bay side of the Bay St. Louis peninsula was rebuilt in 2007 after Katrina completely destroyed the original. The sign notifying the public of the pier’s expansion was swamped Tuesday.

Updated at 5:06 a.m. ET Wednesday: The center of Hurricane Isaac made its second landfall in southeastern Louisiana early Wednesday, officials said. Continue reading

Reuters – Rachel Armstrong – Ex-RBS Trader Details Bank’s LIBOR fixing – 29 August 2012

A former dealer for the Royal Bank of Scotland Group PLC has provided fresh details on how traders at the British bank tried to influence Libor rates, court documents filed in Singapore show.

Tan Chi Min, who is suing RBS for wrongful dismissal, alleges that the bank’s minutes of his disciplinary meeting held in September last year did not accurately reflect what was discussed and omitted details of conversations about how traders at the bank tried to influence RBS’s interbank lending rate submissions.

To read the rest of this story, visit In.Reuters.com. Thanks Rain!

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