SAN LUIS OBISPO, Calif. (MarketWatch) — Worst-case scenario’s closing fast: Occupy Wall Street growing. But no political power or allies yet. Feared yes, attacked by GOP proxy tea party. Soon the Occupation will explode into a new American Revolution.
When? A string of European bank collapses is dead ahead. And like the Arab Spring, they will trigger an economic disaster for American banks.
Andrew Milligan, head of Global Strategy at Standard Life Investments, discusses the implications for banks as European officials try to hammer out a solution to the sovereign debt crisis.
Yes, coming soon says Martin Weiss in his “7 Major Advance Warnings,” which is “bound to have a life-changing impact on nearly all investors in the U.S. and around the globe.” His new Weiss Ratings warnings are the “most important” in a 40-year career. The stress on Wall Street banks will force them back to Congress for more bailouts.
Warning eight: No new bailouts. That will push the economy into a deep recession.
Then what? New Glass-Steagall? Not enough. Tax the rich? Not enough. Perp walks? Not enough. Presidential commission? Useless promises. Occupy Wall Street will fail without a fundamental constitutional change. No compromise. Or Wall Street wins, again. We go back to the same free market, deregulated, too-greedy to-fail, conservative Reaganomics policies that have been destroying democracy for a generation.
All this was so obvious, so predictable. America is at a crossroads. Occupy Wall Street buildup has emerged as America’s last great hope to restore democracy. Last week when USA Today called the Occupiers a “ragtag assortment of college kids, labor unionists, conspiracy theorists and others” hinting they’re a flash-in-the-pan “devoid of remedies,” I smiled, reminded of that famous painting of George Washington crossing the Delaware on Christmas 1776, leading what historians also called a “ragtag” Continental Army, surprising the British, and winning the Battle of Trenton.
Yes, USA Today sees a “ragtag” army: No mission, no goals, no organization, no agenda, no leaders, and no staying power. Wrong. Look deeper: The Occupiers are the voice of America’s collective conscience demanding a return to our 1776 roots, to a “government of the people, by the people, for the people.”
Our collective inner voice knows America’s moral compass is broken. We’ve become a government “of, by and for” special interests, the wealthiest 1%, Wall Street insiders, CEOs and Forbes-400 billionaires. It happened fast: In one generation the Super Rich grabbed “absolute power,” killing the middle class American dream.
Wall Street banks are already dismissing the Occupiers … planning bigger bonuses this year… lifting limits on their license to gamble Main Street deposits in the $600 trillion global derivatives casino … they already spend hundreds of millions lobbying every year … they’re convinced they can defeat the Occupiers with campaign donations in the back rooms of Congress … writing off the fight as another business expense … ultimately expecting the Occupiers will vanish into the cold winter months.
One citizen. One dollar. One vote. Anything less is failure
Warning: Don’t be fooled. Occupy Wall Street knows exactly want it wants. The tea party, GOP’s proxy, isn’t fooled. They feel threatened, counter-attacking, worried their role will be lost in the 2012 elections, fearful they’ll lose sway over Republicans, so they’ve got a smear campaign against Occupy Wall Street. Won’t work:
Amid all the noise surrounding Occupy Wall Street we hear their “one simple demand.” Missed by most outsiders, that demand echoes down through American history, first heard in 1776 in the Declaration of Independence. Earlier the Occupiers voiced their one simple demand:
“We demand that integrity be restored to our elections. One citizen. One dollar. One vote. Only citizens should make campaign contributions. Campaign contributions by citizens should not exceed $1 to any political candidate or party. Help us reclaim democracy.”
Yes, one simple demand: “Stop the monied corruption at the heart of our democracy.” That one simple demand echoed over and over. And no compromise when dealing with so fundamental a principle of democracy. Compromises the last generation surrendered America to Wall Street and the Super Rich. Compromise this principle again, and we all lose, destroy America. No compromise. Period.
Phase 2: EU bank collapse gives Occupiers new political power
The Occupiers Revolution enters a new phase soon: First Arab Spring rippled into American Fall. Next, EU bank collapses will ripple through Wall Street. For a long time we’ve been warning the 2008 meltdown never ran its course, foiled by mega-bailouts … bankers never shared the sacrifice … fought all reforms … are back to business-as-usual … learned no lessons … now even more delusional, expecting bigger bonuses … trapped in denial for three years … cannot see what’s ahead … a perfect setup for a bigger crash.
That’s why my eye locked on Martin Weiss’ “7 Major Advance Warnings.” Weiss has been a champion of the little guy for 40 years, author of “The Ultimate Money Guide for Bubbles, Busts, Recession and Depression.” Weiss Ratings of domestic and foreign debt markets downgraded U.S. debt before the S&P.
Both of us were warning well in advance of the 2008 crash. It was so predictable: Weiss warned of “failure of Bear Stearns Lehman, Washington Mutual, near-failure of Citigroup and the demise of Fannie Mae years before it collapsed.”
So listen closely to his “7 Major Advance Warnings,” which are “the most important in the 40-year history of my company.” Many will dismiss them, distracted by today’s campaign noise. Others will dismiss them as “over there,” problems for Europeans. Weiss warns: EU banks problems are “bound to have a life-changing impact on nearly all investors in the U.S. and around the globe.”
So listen and discount what Wall Street is selling you. Protect your portfolio. Here are edited highlights:
1. Greece will default very soon ...
”Banks must bite the bullet and take some big hits in their Greek loans. … Whether banks accept this ‘solution’ voluntarily or not, it will mean Greece is in default.”
2. The contagion of fear will spread …
Global investors know “if one major Western government can default, so can others.” They will refuse to lend “to highly indebted governments” or “demand outrageously high yields.”
3. European megabanks will collapse …
Some of the “largest banks will collapse under the weight of defaulting sovereign debts and … mass withdrawals … Spain … French banks” … the impact will ripple across “J.P. Morgan Chase, Bank of America and Citigroup … All three are in danger.”
4. EU governments suffer new credit rating downgrades ...
”France and Germany, will scramble to rescue their failing banks.” But “bank bailouts are seriously flawed” as “governments gut their own fiscal balance … suffer big downgrades,” or pay “far higher interest rates.”
5. Spain and Italy next to face default on their massive debts ...
With “$3.4 trillion in debt, or about 10 times more than Greece” they too risk default.
6. Global debt markets will suffer a critical meltdown ...
Anticipating “default by a country as large as Spain or Italy, nearly all debt markets in the world will freeze.” Withdrawals, panic “not only crush the borrowing power of the PIIGS” but threaten meltdowns in “France, Germany, Japan, the U.K. and the U.S.”
7. Vicious cycle: sovereign defaults, bank failures, global depression ...
Government defaults trigger more bank failures, “cut off the flow of credit to businesses and households, sink the global economy into a depression, and perpetuate the vicious cycle.”
Warning to investors: No bank bailouts, power to Occupation
History inevitably repeats itself: Arab Spring triggered Wall Street Fall. Next, the raging European monetary collapse will ripple through America’s banking system, completing the 2008 meltdown that never ended because Wall Street fought all reforms.
But now, a bigger meltdown as history repeats a dangerous cycle like the 1929 Crash and Great Depression.
History will also deal a fatal blow to Wall Street. Weiss adds a key warning: No bank bailouts. America’s banking system is bankrupt, structurally and morally. Washington is broken. And thanks to the Occupiers Revolution the masses will never accept new bank bailouts. Never. They’ll toss politicians and overthrow government first.
No new bailouts will be the stake in the heart of Wall Street, ending the “greed is good” power of America’s “bloodsucking vampire squid,” handing the Occupiers new political power in Washington.
Weiss’s worst-case scenario highlights everything we’ve both been warning investors about for a long time. The 2008 meltdown never ended, lessons never learned. But now the end game is accelerating.
Listen closely: Weiss final warning to all investors: “Get all or most of your money out of danger immediately … above all, stay safe!” Prepare for the coming bank collapse. And discover how this historic scenario will empower the Occupiers message to get money out of elections: “One citizen. One dollar. One vote.”
Compromise on that principle and Wall Street wins, again.
The real reason for Barack Hussein Obama attacking Libya has nothing to do with humanitarian reasons. It has everything to do with a gold heist. Barack Hussein Obama unlawfully sent U.S. forces to attack Libya to control the country’s vast oil (black gold) resources and its 144 tons of gold bullion. Today the U.S., France, the UK, Canada and other NATO war criminals are pouring into Libya to steal the Libyan people’s gold. U.S. and British troops are already on the ground (in violation of the UN Resolution 1973) to extract the gold bullion. It is the stolen Libyan gold that Barack Obama is offering the European Union. The bankrupt United States is offering to bailout the bankrupt European Union with stolen Libyan gold. A thief is helping out another thief using stolen goods. How humanitarian of Obama.
Libya’s true leader, Muammar Gaddafi was planning to introduce the Gold Dinarjust before the United States and France launched their illegal war against Libya. Gaddafi was also to demand gold in return for his people’s oil . This was the second reason for the United States / NATO war against Libya. The IMF, the WTO, the World Bank and their agents in the United States – the illegal Federal Reserve gangsters were threatened by the return to a honest currency – gold and silver backed.
Under the guise of “protecting civilians,” the United States led NATO into Libya and is now attempting to assassinate the Libyan leader. Libya just so happens to be the largest oil producer in Africa. Many do not realize that Gaddafi’s plan to introduce the gold dinar, a single African currency, would have served as an alternative to the worthless and impotent Federal Reserve Note and allow African nations to share the wealth. It is surely no coincidence that Iraq’s prior leader, Saddam Hussein, was trying to do the same thing just prior to the U.S. invasion for “weapons of mass destruction.”
30,000 troops from the 1st Calvary Division (heavy armor) and III Corps at Ft. Hood are being readied for deployment to Libya by October. Months before Obama unilaterally ordered U.S. and NATO forces to attack Libya, hundreds of British, American and French Special Forces were already on the ground in Libya training and commanding the CIA / MOSSAD recruited foreign mercenary army.
Already the World Bank and the Federal Reserve shysters have offered to “help” Libya’s recovery by indebting Libya with crippling interest bearing loans that can never be paid back while swallowing up the real assets of Libya.
A burglary; to break and enter onto another’s premises, land or real property with the intent to there commit a crime, most typically theft. Burglary is a felony offense. Even if nothing is stolen in a burglary, the act is a statutory offense.
Thecourt of public opinion finds Barack Hussein Obama, David Cameron, Nicolas Sarkozy and Stephen Harper guilty of the felony charge of burglary. The court also finds Barack Hussein Obama, David Cameron, Nicolas Sarkozy and Stephen Harper guilty of the felony charge of first degree murder – willful, deliberate, and premeditated killing of thousands of Libyan civilians, police and politicians.