Sub-Prime Crisis Triggered by Wantagate / Letter to President Bush,. from Leo Emil Wanta
HOW WANTAGATE TRIGGERED THE 'SUB-PRIME' CRISIS
U.S. CAUGHT MARKETING UNBACKED TRASH TO THE REST OF THE WORLD
Thursday 30 August 2007 23:28
GIGA-SCAMS ORCHESTRATED BY THE BUSH II WHITE HOUSE
GREAT AMERICAN MORTGAGE ECONOMIC SCAM [= G A M E S]
MOST CORRUPT U.S. ADMINISTRATION IN AMERICAN HISTORY
THESIS: THE UNSTABLE, CORRUPT STATUS QUO. ANTITHESIS: THE STABILISING WANTA PLAN
IMPORTANT NOTICE: THIS REPORT WAS 'SNIPPED' OVERNIGHT FROM JUST BELOW THE PARAGRAPH HEADED: 'UNBACKED U.S. TRASH PAPER SOLD TO FOREIGNERS', TO THE END OF THE REPORT. THIS INDICATES THAT WHAT WE ARE REPORTING HERE IS ACCURATE (WHICH WE KNOW TO BE TRUE). IT IS ILLEGAL TO ATTACK A FOREIGN WEBSITE.
THE 'SNIPPED' TEXT HAS BEEN RESTORED [AS OF 8.30 AM EDT, FRIDAY 31ST AUGUST 2007].
INTERRUPTION: URGENT UPDATE: 2.00PM EDT, 31ST AUGUST:
LETTER TO PRESIDENT GEORGE W. BUSH JR. FROM AMBASSADOR LEE/LEO EMIL WANTA:
The Editor has been asked to display the following letter that Ambassador Wanta has just sent [31st August 2007] to President George Bush Jr., Members of the US President’s Cabinet, all Wanta Plan Administrators and others for their immediate attention:
• Bear in mind that President George Bush Jr. FORMALLY agreed to the $4.5 trillion Wanta Settlement in May 2006. He is responsible for fulfilling this undertaking in the interests of the American people and, per Her Majesty The Queen: ‘for the good of the whole of humanity’:
US President and Commander in Chief, George W. Bush Jr., Bush Administration Cabinet Members, Members of Congress, Wanta Plan Administrators et al:
IF US President George W. Bush Jr. is operating under the “Rule of Law” which is absolutely shattered “by others”…
(a) WHERE is the full cooperation with FULL DISCLOSURE on tracing the Financial Settlement of US Dollars 4.5 trillion – which includes USD 1.575 ‘set-aside allocation’ for my personal/repatriation tax payment – from our US Department of the Treasury, Federal Reserve, et al to the authorized TreasuryDirect payment to Morgan Stanley [NYC]/ AmeriTrust Groupe, Inc. securities account?
(b) WHERE is my notification that the lawful payment is actually being remitted AGAIN, has really been credited AGAIN, and actually delivered with the ECONOMIC RECEIPT to the above-mentioned securities account?
(c) WHERE is my public and/or private written assurance that the United States of America's President and Commander in Chief has commanded and directed full cooperation by Treasury Secretary Hank M. Paulson, Jr., Deputy Treasury Secretary Robert Kimmitt, FedRes Chairman Ben Bernanke, FedRes Vice Chairman Donald L Kohn, Bank of America, JPMorganChase, Wachovia Bank, Bank of New York-Mellon Corporation, Citibank, N.A., and Morgan Stanley Securities to again implement any and all lawful necessary steps and/or procedures to expedite the said immediate, but previously delayed “by others”, cash funds payment to the above-mentioned securities account within Morgan Stanley [NYC]?
(d) WHERE are the White House concerns about the “set-aside allocation” for the civil payment of US Dollars 1.575 trillion to our United States Department of the Treasury – on behalf of the American people – as [the President] is really THEIR President and Commander in Chief, with full Executive Authority over our Great Nation’s Departments/Agencies?
The basic concepts and fundamental principles of Our American Republic now stand as the only legitimate considerations going forward, for they have been tested almost to annihilation already, and will not endure much longer if we continue on this path.
But there is no American Republic without the Rule of Law – no rights, no protections, no United States Constitution: there is absolutely nothing; and if 'they' continue to destroy the Rule of Law, they destroy the idea that is America itself.
Nothing quite like The Wanta Plan has ever before been attempted in America, and if we are allowed to succeed, there will be national excitement and opportunities – which [will] define America, and the Bush Administration.
“As nightfall does not come at once, neither does oppression. In both instances, there’s a twilight where everything remains seemingly unchanged, and it is in such twilight that we must be aware of change in the air, however slight, lest we become unwitting victims of the darkness” – US Supreme Court Justice William O. Douglas.
AmeriTrust Groupe, Inc.
Lee Emil Wanta, Chairman and Chief Executive Officer
Dated: 31 August 2007
The report first posted late on 30th August, hacked and 'snipped' by NSA overnight, now follows:
HOW WANTAGATE TRIGGERED THE GLOBAL 'SUB-PRIME' CRISIS
U.S. CAUGHT MARKETING UNBACKED TRASH TO THE REST OF THE WORLD
By Christopher Story FRSA, Editor and Publisher, International Currency Review, World Reports Limited, London and New York: www.worldreports.org. Press NEWS and the ARCHIVE Button on the www.worldreports.org Home Page for 'Wantagate' reports since April 2006. [Note: A new panel giving details of our latest publications as they are made available, has been added].
THE EDITOR HAS BEEN TRAVELLING IN THE UNITED STATES
Although it may appear to some observers that Wantagate has stalled, the increasingly dangerous brinkmanship between the two dialectical ‘opposites’ – continuation of the unsustainable, corrupt status quo on the one hand, and the agreed long-term solution to the deep problems of the United States and the whole world, The Wanta Plan, on the other – continues. But before we examine and expose what has been happening, some important preliminaries need to be addressed.
To begin with, the Editor has been travelling in the United States, and during this period he had considered it appropriate to re-post the ‘Wisconsingate’ report originally posted on 6th August, given the critical importance of the corruption detail contained therein. During his absence from London, the Editor has received an unprecedented number of emails and telephone calls asking whether he is Okay, dead, or incapacitated. We thank all who have sent such messages, and hereby assure them that the Editor is in good shape and accordingly, so far, alive.
In the event of his sudden death, he will advise in a separate posting from wherever he may be.
DONNA SHALALA SPONSORED LEO WANTA’S DETENTION
It was President Clinton’s Cabinet associate, Donna Shalala, originally from Wisconsin, who arranged for the illegal detention of Ambassador Leo Wanta in a mental institution, because he pleaded that he had paid the (illegal) civil tax assessment of $14,129 twice, which the officials concerned chose to think represented a sign of madness.
As our ‘Fourth Reading’ of the Wisconsin Tax Gestapo fabrications posted on 6th August 2007 makes clear, not only was this amount paid under protest twice in 1992, but the Delinquent Tax Warrant # 44-00162088, which was feloniously duplicated, was certified by the relevant Wisconsin Court as ‘fully satisfied’, and notarised to that effect on 1st June 2003.
In the Wisconsin madhouse, every illegal attempt was made, on the clandestine instructions of the Clinton White House, to have the Ambassador declared insane. Leo Wanta’s life was saved from this Soviet-style fate by Dr Connie Lee, the veteran Chief Psychiatrist for the State of Wisconsin, who refused to certify Leo insane and thus saved his life, after five earlier attempts to have him certified had also failed.
THE FIVE FAILED MURDER ATTEMPTS
These endeavours to have the Ambassador ‘expunged from the record’ were supplemented by five known attempts, likewise orchestrated by the Clinton White House, to have Ambassador Wanta murdered – culminating in the scandalous attack by a Deputy Sheriff, who changed into prisoner’s clothing at the Kettle Moraine, WI, correctional facility, attacked Leo Wanta in the bathroom, failed to murder him, escaped back into the office area, changed back into his Deputy Sheriff’s uniform, and fled in his County Car.
U.S. TREASURY INSTRUMENTS WORTH $18 BILLION STOLEN FROM HIS BRIEFCASE
Meanwhile the 18 high-value US Treasury instruments with a face value of $18 billion were removed from the Ambassador’s diplomatic briefcase, which has never been returned to him with his personal effects because it would have to contain the missing 18 US Treasury certificates.
The suspicion that these were stolen under the direction of former Wisconsin Governor Tommy Thompson at the behest of the criminalised Clinton White House has never been denied.
WISCONSIN STATE COURTS CORRUPTED AND SUBORNED
On top of all this, the legal record shows unequivocally that the Wisconsin judiciary appears to have been systematically suborned to obfuscate matters, so as to prevent Leo Emil Wanta over the years from bringing forward irrefutable evidence of his absolute innocence and his diplomatic status, and subsequently to complain that such evidence later proffered should have been presented at the kangaroo court hearing in 1995, in the first place. To describe what happened as a grotesque and deliberately contrived miscarriage of justice would be equivalent to describing the corrupted and mafia-controlled Wisconsin Department of Revenue as smelling of roses, rather than stinking, as it does, of dead rats. And of course the lawyers supposedly appointed to ‘work for’ Leo Wanta have all along been serving the usual ‘hidden master’ intelligence suspects.
WISCONSIN JUDGE WRITES TO THE EDITOR
In the report posted by the Editor on 7th August, it was stated that no response had been received from either Judge Michael B. Torphy, Jr. (whom we knew had retired), or from Dane County Circuit Court. However, after visiting the Ambassador and Michael C. Cottrell, M.S. in the United States during the week ending 24th August, the Editor found, on arriving in New York on 25th August, the following letter from His Honor Judge James L Martin, Dane County Circuit Court, Branch 17, 215 South Hamilton Street, Madison, WI 53703-3290, dated 3rd July 2007.
The Circuit Court therefore responded quite promptly to the Editor’s letter and enclosures, which conveyed, for the Court’s urgent attention, the detailed information and references itemised in our report dated 7th August 2007 [see Archive]. The Letter from Judge James L Martin reads as follows:
July 3, 2007
Re: State of Wisconsin v. Leo E. Wanta
[Stating the relevant Case Number]
Dear Mr Story
This will acknowledge receipt of your packet of information regarding Leo E. Wanta and payments to the Wisconsin Department of Corrections in 2005. This file has been assigned to Branch 17. Judge Torphy is retired and has been for more than ten (10) years.
Your packet far exceeds information contained within the court file on the subject of payment restitution, payment of victim surcharge and other monetary obligations.
In my conversation with Agent Michelle Riel of the Department of Corrections, she advises that
she paid over to the DOC cashier all monies received in connection with Mr Wanta’s probation supervision. Because Mr Wanta was on probation at the time of discharge, the monies paid to satisfy his obligations did not pass through the Dane County Courts. We have no more knowledge about Department of Revenue Warrants than are contained within your packet of papers.
I suggest that you concentrate your request for information with the Wisconsin Departments of Revenue and Corrections. It appears, however, that the discharge granted by Secretary Frank is indicative that all court ordered financial obligations were paid in full in 2005. If there were other non-court ordered financial obligations unsatisfied with the Department of Revenue, these must be addressed in another forum and with Revenue.
It is evident that you’ve had email contact with the Department of Corrections through John A. Dipko, Public Information Director. It is also clear that you have the address, telephone number and Tax Account Number for Leo E. Wanta. You or Mr Wanta should be able to confirm his payment history and the basis for the April 17, 2007 Notice of Warrant Filing.
Finally, you must resolve your inquiry with those that took in the funds in 2005 and disbursed them to satisfy or partially satisfy Mr Wanta’s outstanding obligations. Further, any questions about outstanding tax warrants should be addressed to the Department of Revenue.
James L. Martin
Circuit Court Judge
cc. John A. Dipko, Department of Corrections
Michelle Riel, Agent [location stated].
POINTS ARISING FROM THE JUDGE’S LETTER
The following points arising from His Honor’s letter to this Editor, which demonstrates a remarkable talent for ‘professional skating’, may be noted:
• The file containing the Editor’s packet of detailed information having been ‘assigned to Branch 17’, is ‘live’. Otherwise it would not have been so assigned.
• The information sent to the Court materially exceeded the information available to the Court precisely because the Editor, on behalf of Ambassador Wanta, sought to INFORM the Court of the deplorable circumstances surrounding this case, so that the Court may consider whether it would be appropriate in general for it to take such action as it may deem appropriate, and in particular whether the Court should issue the ‘Satisfaction of Restitution’ document that the Editor has been authoritatively informed is necessary and is seeking. The Judge has not offered to provide such a document, despite his statement: ‘It appears… that the discharge granted by Secretary Frank is indicative that all court ordered financial obligations were paid in full in 2005’.
• This is the same stance as that adopted by Attorney Steven Goodwin in email correspondence to the Editor, notwithstanding that the matter is not legally concluded, according to the Editor’s best information, until the Court has issued the necessary ‘satisfaction’ document.
• The Editor’s interest is solely to procure a proper accounting of the use of his loan funds: that’s all. Such an accounting can only be provided by the Court. The statement: ‘It appears… that the discharge granted by Secretary Frank is indicative that all court ordered financial obligations were paid in full in 2005’, is not, we understand, sufficient. That this is the case is manifest from the fact that the Wisconsin Department of Revenue has continued to demand the SAME funds that were paid twice in 1992, certified as ‘fully satisfied’ on 1st June 1993, and then paid a third time using the Editor’s funds in July 2005. Therefore, with respect to His Honor, his statement is mistaken.
Former Wisconsin Secretary Frank’s discharge is indicative of nothing at all so far as the Wisconsin Department of Revenue is concerned, as the Editor’s correspondence with the Department, to be published in International Currency Review, Volume 33, #s 1 &2 [September 2007] will make clear.
• Hence, the Honorable Judge’s recommendation that ‘I suggest that you concentrate your request for information with the Wisconsin Departments of Revenue and Corrections’, is circular and quite meaningless. Not only has the Editor done precisely that, but no satisfaction whatsoever has been obtained as a consequence of his extensive efforts which, with the exception of Mr John Dipko’s helpful responses, have yielded zero results.
• There are of course NO ‘non-court ordered financial obligations unsatisfied with the Department of Revenue’. Likewise, we have long since ‘confirmed’ Leo Wanta’s ‘payment history and ‘the basis for the April 17,2007 Notice of Warrant Filing’. There is no such basis.
• The Judge’s final comment that the Editor should ‘resolve your inquiry with those that took in the funds in 2005’ requires that the Editor should ask Attorney Steven Goodwin yet again to procure the necessary ‘satisfaction’ document from the Court, which he has failed to do, relying instead on a statement almost identical to that of the Judge, namely that the ‘Absolute Discharge’ granted by former State Secretary of Corrections Frank, SHOULD provide the necessary evidence that Leo Wanta's ‘obligations’ have been fully satisfied.
There is no such word as SHOULD in law: while the facts of the matter make it clear that the Wisconsin Department of Revenue, which on the evidence assembled in this case is manifestly a criminal organization, is not in the slightest impressed by what the Department of Corrections does. It carries on dunning innocent non-taxpayers regardless of what other components of the Wisconsin official structures may assert or recommend.
COURT DECLINING TO DO ITS DUTY?
We therefore have here an alarming case of a US State County Circuit Court evidently declining to take ‘appropriate action’ in the light of the irrefutable evidence of multiple tax fraud and fabrication perpetrated over a prolonged period of time NOT by a taxpayer, but by the State taxation authority itself. The Editor has in practice acted in accordance with the US Misprision of Felony law, and the Court proposes to do NOTHING in the face of the damning evidence of the Wisconsin Department of Revenue’s grotesque tax fabrications and prolonged criminal conduct against Leo Wanta?
It is for parties other than this Editor to judge whether this apparently scandalous and criminal state of affairs implies that the Dane County Circuit Court may be a co-conspirator in the covering-up of this monumental miscarriage of justice aggravated by relentless and repeated scams against a non-taxpayer diplomat, perpetrated by the Wisconsin State tax authority.
IRREGULAR PAYMENT TO THE WISCONSIN STATE PUBLIC DEFENDER
There is also the tricky matter of the use of $4,167.64 of this Editor’s funds that was paid by the Wisconsin Department of Corrections on 4th August 2005 to the Wisconsin State Public Defender’s Office [see 6th August report], to defray costs arising due to the illegal use by the prosecuting Wisconsin Department of Revenue of a so-called ‘Public Defender’ who was never appointed by Leo Wanta – and who, when this Mr John Chavez asked to be fired, was told by the Ambassador that he could not fire him because he had never appointed him in the first place.
Mr Chavez surfaced initially in connection with a Court-ordered medical examination and then metamorphosed into Leo Wanta’s ‘Public Defender’ without Leo’s authority. It is the right, under the American Constitution, of every American citizen to ask for, and to employ, the services of his own counsel should he wish to do so.
The Editor understands that this particular matter is of special concern to certain US Federal authorities: and rightly so. Would they kindly hasten to do something about it, then?
NEW ILLEGAL STATE TAX DOCUMENT SURFACES
Before leaving ‘Wisconsingate’ to concentrate on new Wantagate developments, the following additional scandalous information is now appended. As explained in the forensic analysis of the Wisconsin Tax Gestapo fabrications posted on 7th August, the Editor has tracked two ‘streams’ of these fabrications against Ambassador Wanta – the $14,129 ‘stream’ of civil tax assessment fabrications, paid three times, and the ‘Falls Vending’ ‘stream’.
On 13th August 2007, the Wisconsin Department of Revenue conjured a THIRD tax demand out of thin air, delivering a fanciful ‘Notice of Internet Posting’ addressed to Leo Wanta demanding the previously unheard-of sum of $131,701.13 – an amount which bears no relationship to either of the two fabricated ‘streams’ of trash mentioned above. In other words, the organised criminal cadres running or embedded within the Wisconsin State Department of Revenue have demonstrated that they are capable of inventing new false tax ‘obligations’ generated at the whim of the Wisconsin Mafioso Godfather du jour.
WISCONSIN TAX PAYMENT ADDRESSES DUPLICATED
You will recall our emphasis on the standard DUPLICATION modus operandi, explained in the reports posted in late July. In the case of ‘Falls Vending’ and this new fabricated ‘stream’, TWO payment addresses are given on the Wisconsin department of Revenue’s paperwork.
These are as follows:
Wisconsin Department of Revenue
PO Box 8901
Madison WI 53708-8901
Phone: (608) 267 0833
Fax: (608) 267 0833
Make Checks Payable and Mail to:
Wisconsin Department of Revenue
Milwaukee WI 53293-0208
On certain documents, the rubric ‘Make Checks Payable and Mail to:’ is replaced by: ‘For Faster Service, send Payment to’. This means that there are TWO payment addresses, enabling the cadres to ‘lose’ payments, providing scope for endless obfuscation, such as is forensically revealed in our ‘Fourth Reading’ of the Wisconsin State Tax Gestapo scams against the Ambassador posted on 7th August. Playing around with the US Postal Service – for instance, as here, causing confusion by displaying duplicated addresses to which payment may be sent – is probably illegal, and should be a matter for the attention of the US Treasury, which (see below) will become the supreme financial powerhouse in both the United States and the world, once The Wanta Plan is implemented.
AUDIT OF ALL U.S. TAX AUTHORITIES RECOMMENDED
The likely intention of current Wisconsin State tax demands against Ambassador Leo Emil Wanta, including a baseless updated ‘Falls Vending’ demand for $1,040,640.44 addressed by the Wisconsin Department of Revenue on 23rd July 2007, is to tempt the Ambassador, following his Settlement, to remit the demanded funds by way of ‘nuisance’ payments, just as he did in 1992. There is no chance of this happening.
It stands to reason that if criminal scamming of ‘taxpayers’ is taking place on such a scale and over such a prolonged period in the State of Wisconsin, the likelihood of official tax fabrication scams being rampant in other States must be high. The compromised US Federal Government needs, as a matter of extreme urgency, to assert its authority over the constituent States and to perform audits, of the tax authorities in every State of the Union, beginning with the State of Wisconsin.
Taxpayers (and non-taxpayers such as the Ambassador) who have been systematically scammed over the years by organized criminal cadres resident like viruses inside the guts of the State tax authorities, must be refunded their stolen funds with compound interest. No doubt comparably scandalous abuses exist at municipal level, as well. And nor are such organised criminal operations confined, of course, to tax authorities.
CORRUPTION IN U.S. FEDERAL DEPARTMENTS, TOO
Certain Departments and agencies of the US Federal Government, such as Health and Human Services, the Department of Agriculture, the Veterans’ Administration, and the Department of Defense, are notorious for corrupt practices, as are certain Government-Sponsored Enterprises, notably ‘Freddie Mac’ and Fannie Mae’, as exposed in earlier reports in this series.
If, in the course of the clean-up that must now take place, anything of lasting value is to emerge from the ‘Wisconsingate’ dimension of ‘Wantagate’, nothing short of a multi-year audit programme conducted under the most rigorous US Federal remit will be necessary to purge these decadent structures of the deadly criminal virus that has turned layers of US Government into scamming machines targeting the American people and foreigners for the enrichment of criminal elements who, had it not been for Wantagate, would have confirmed their Fascist hegemony following a further 9/11-type atrocity.
This will not now take place, while martial law has been cancelled, as will be explained:
INSIGHTS ON CURRENT DEVELOPMENTS
The Editor is authoritatively advised, and also deduces, that:
• The United States will not be subjected to martial law. The military will not stand for it. There are four million veterans, retired special forces officers and others, who would in any case organise the resistance. These evil plans have been torpedoed – by Wantagate.
• The heightened security and eavesdropping environment was installed not primarily in order to ‘catch terrorists’, who in any case have been trained, either directly or in the past, by Western and Soviet (Illuminati-serving) intelligence operatives, but rather to provide the organised criminal cadres who have hijacked the US Government structures, with advance intelligence on the extent to which their own massive domestic and foreign financial criminality and scamming operations were leaking into the public domain.
(In order to achieve this post-9/11 objective, a vast ‘security’ industry has been established and taken root which, of course, represents a colossal permanent drain on resources, given that it is an unproductive, parasitical labour-intensive fungus feeding on the structures of control).
• TWIN CITIES ANALYSIS: Our ‘Twin 9/11’ analysis, published here on 16th April, has since been confirmed by three US official sources. It will be recalled that we deduced that an atrocity had been planned to coincide with the Republican National Convention, which was to be inaugurated on 1st September 2008, a date which devolves (Kabbalistically-numerologically, in the mad minds of these Luciferians) to 9/11: September = 9; 1 + 2 + 8 = 11 [1st, 2008]. The intention, revealed in our report, had been to detonate four high-explosive/nuclear devices in the TWIN Cities, emulating the TWIN Towers operation, which has been authoritatively confirmed to us as having been an ‘inside job’. It was also pointed out that these Luciferians have a hang-up about TWINS. But the final twist is that the planned atrocity would have TWINNED 9/11 – one atrocity at the beginning of the Bush II reign, and a ‘matching’ atrocity at its end. The atrocity that was planned for 1st September 2008 would have provided the pretext for the martial law-backed dictatorship, which has been torpedoed in the fallout from Wantagate, and will not now occur. Exposure of the planned TWIN Cities atrocity spiked that abomination – since post-exposure, no such ‘inside job’ could possibly be undertaken without destabilisation of the planned dictatorship.
• The detailed Wantagate reports published on this website have, over the past several months, encouraged so-called ‘White Hats’ who appear to have been afraid to manifest themselves, to come forward and join the fight for the decisive re-establishment of the Rule of Law in the United States, represented by Wantagate. A ‘tipping point’ was reached which has ensured the ultimate success and decisive outcome of this de facto campaign.
• With the Wanta Settlement, the new geofinancial system, to which the world’s central banks have all subscribed, will take effect. The primary feature of this system is that ‘every dime will be taxed’, In the case of US dollar holdings held untaxed offshore, ‘owners’ of such accounts will first of all be required to pay tax on their accumulated holdings, and secondly will be obliged to declare ‘source of funds’, which many will be unable to do. Timing? Our best intelligence suggests that the new system will be installed in September 2007, for definitive implementation with effect from the new US Fiscal Year beginning on 1st October. Yet the Editor would like to stress that, while he has not been specifically informed of this fact, certain information he possesses strongly points to this deduction being correct, but that, at the same time, since we are dealing with a beast which has a perverse mind of its own and is cornered, this prediction cannot be relied upon.
• Under the new regime, the US Treasury will be the primary financial powerhouse in the United States – and therefore, under a US dollar system given a fresh lease of life, in the world. The final provision of the Federal Reserve Act of 1913, Section 30, states that: ‘The right to amend, alter or repeal this Act is expressly reserved’. This language means that Congress can at any time take steps to abolish the Federal Reserve System, or to buy back the stock and make it part of the Treasury Department, or to alter the System as it sees fit.
(A contemporary Congressional Record entry states that the US Government can ‘buy back’ the Federal Reserve System at any time, for $450 million).
• The meeting of remaining Governors of the Federal Reserve (others having left their posts for fear of going to jail) that was scheduled to take place at the underground military ‘Continuity of Government’ (C.O.G.) sanctuary facility at Jackson Hole, Wyoming on 31st August 2007, may finesse the intended closure of the Federal Reserve and the assumption of its responsibilities by the US Treasury (on the basis of the Editor’s QUALIFIED prediction in point 5 above).
• Note: The imminent double issue of International Currency Review contains a ‘valedictory’ article, originally published by the Congressional Research Service, on the Federal Reserve System. The Congressional Research Service is an excellent, high-grade source of information, adhering to the highest standards of interpretation and scholarship.
The article states, as FACT, that the US dollar is backed by NOTHING AT ALL. Naturally, the Editor prefers this statement of the obvious to come from an official entity of the US Federal Government structures, than from our journal per se.
• It was the real prospect of the new financial system being introduced, attributable exclusively to Wantagate, which drove holders of untaxed offshore ‘fiat’ funds to seek means of obfuscating their ownership while holding onto their accruals, through dubious ‘financial collectivisation services’ offered inter alia by hedge funds/private equity. This, in turn, explains, the mad frenzy of takeover activity financed by gargantuan ‘on-the-books’ bank loans, serviced via collective offshore ‘fiat money’ holdings. With the inauguration of the new financial environment, this syndrome will no longer be possible, or make any sense. The orgy of bank lending activity hollowed out the supply of on-balance sheet credit, leading directly to the credit crunch in July.
• Her Majesty The Queen’s gold had NOT been restored when we enquired about this matter on 20th August. The Editor has so far been unable to ascertain whether this crisis is resolved with the Wanta Settlement, in accordance with the Queen’s express wishes, or not. The rank failure of the Americans to procure immediate rectification of this ‘Act of War’ against the United Kingdom has led to a discernible deterioration in relations between the two countries, as we clearly anticipated.
Evidence of this fact includes the appearance of several angry Op-Ed pages in the British press, which have appeared while the Editor has been travelling. The Editor would have greatly preferred a much more vigorous British Government response, designed to impress upon the cynical minds of the criminal US operatives concerned that such behaviour has painful costs. Not being privy to what is going on behind the scenes on this score, we cannot comment further, other than to note the rather obvious continuing evidence of deteriorating bilateral relations, and to assert that the only language these criminals understand unfortunately has to be harsh and confrontational.
• The resulting breach between Britain and America is being filled by the President of France, Nicolas Sarkozy, a first-generation Hungarian of Jewish extraction, who called on 27th August, in line with Israeli demands, for Iran to be attacked if it persists with its nuclear armament programme. This Mossad ‘line’ was reiterated a day later by President Bush, as the Psy-Ops campaign against Iran gathers momentum. No-one in the media or anywhere else has yet dared to ask why it is Okay for Britain, France, the United States, China, Pakistan, India and Israel to possess nuclear weapons, and not acceptable for Iran to possess them, despite the fact that Iran’s nuclear programme has been clandestinely assisted by the covert Soviets, European Union agents, and the United States. Nor has anyone in the media or elsewhere yet paid attention to the reality that any attack on Iran’s nuclear facilities has the potential to render the offshore hidey-holes of Dubai, Abu Dhabi, Qatar, and Bahrain uninhabitable (a view, by the way, that was very strongly held in 1990-91 by General Schwarzkopf). Because of this reality, the Editor adheres to the view that the demonic talk about a devastating attack on Iran may still be a Psy-Ops fest – although, given the wayward mentality of these people, one should not expect simple logic to feature in any of their calculations.
Remember that President George W. Bush Jr. was seen on the White House video on 19th March 2003 pumping his fists in the air and muttering ‘Feels good, feels good’, as he at long last enjoyed the ‘pleasure’ of making a bigger bang than his father.
THE MORTGAGE CREDIT SCAM AND WANTAGATE
We will now address and expose the vast nexus of corruption underlying the façade of ‘rectitude’ presented by some of the world’s largest institutions, including the Bank of England – showing that Wantagate has exposed the historically unparalleled fraud offensive perpetrated by US financial entities against naive foreign ‘takers’ of overleveraged paper supposedly backed by underlying mortgage assets but which in practice were and are backed by ZILCH. Furthermore:
• The so-called ‘sub-prime’ crisis will be shown to be a DIRECT CONSEQUENCE of the fact that Wantagate has EXPOSED THE MASSIVE SCAMMING OPERATION TO SELL UNBACKED TRASH TO FOREIGNERS THAT HAS BEEN MASTERMINDED BY U.S. ORGANISED CRIMINAL OPERATIVES AND INSTITUTIONS AGAINST FOREIGN ‘TAKERS’ AND INSTITUTIONS.
• FRAUDULENT FINANCE: The debts that were issued had no assets. Leveraged Debt Obligations (LDOs) issued on the basis of the non-assets had no equity. The Collateralised Debt Obligations (CDOs) based on the LDOs had no equity. As a consequence, there was and are no actual assets supporting the debt in question. Criminally, the U.S. perpetrators of these scams, operating along the same lines as the bucket shop fraudsters of the 1920s, represented that the paper they were selling to foreign ‘takers’ was underpinned by real assets, which was not the case. They have banked upon the foreign ‘takers’ failing to perform their due diligence, contrary to the US Trust Indenture Act of 1939, and relying on the names of the institutions floating the paper. Wantagate has exposed these illegal derivatives scams, triggering the ‘sub-prime’ crisis.
• DODGY FINANCE: With reference to overleveraged paper based on doubtful mortgages, if there is no or little equity in the debt, there is no or little cash-flow. Americans, Britons and others who have signed these mortgages, taking ‘advantage’ of low ‘taster’ interest rates of, say, 5%-7% for two years, and 12%++ for 28 years (or other combinations for three and 27 years) are and will be, unable to service their mortgages. This state of affairs has spawned widespread anecdotal evidence of US mortgage holders ‘re-upping’ and taking equity from their banks, and then walking away from their homes, leaving the banks holding unwanted and unsaleable real estate. Over the next 18 months, low ‘teaser’ interest rates expire on more than 2 million US adjustable-rate mortgages, resulting in sharply increased monthly payments. The latest US data confirm nationwide reductions in home real estate sale prices, while conventional US mortgage lenders will become less and less inclined to rescue overstretched homeowners and buyers, either to refinance their way out of trouble or even to sell their houses. It is already the case that some people are having to walk to work rather than take public transport, given the squeeze on their household budgets arising from this situation.
UNBACKED U.S. TRASH PAPER SOLD TO GULLIBLE FOREIGNERS
Observe from the above that we are dealing with a further manifestation of criminal DUPLICATION. The Fraudulent Finance category, which DUPLICATES the residual ‘Real Assets’ sector, represents the familiar Ponzi-style scam whereby paper backed by NOTHING is not only sold, but used as collateral, with hypothecation taking place – all based upon thin air. American banksters have been marketing this fraudulent paper to foreign ‘takers’ on the expectation, as noted, that they would fail to perform, adequate ‘due diligence’ (‘source of funds’), as has proved to be the case. The panic that has broken out in Germany and France, as this US organized crime scamming practice has been unveiled, has been widely reported, with institutions and hedge funds going to the wall as a result. Many more will undoubtedly follow on both sides of the Atlantic, and in offshore centers such as the Cayman Islands (where the Australian firm Capital Fund Management and two Bear Stearns hedge funds have filed for bankruptcy protection). In fact, given the impact on their operations that the new financial system will exert, we would expect few, if any, so-called ‘hedge funds’ to remain in business a year from now.
By failing to allow Ambassador Wanta to take economic receipt of his $4.5 trillion Settlement, as ordered (we are informed) by President George W. Bush, the US Treasury Secretary and his associates, taking opposing instructions from the former President Bush Sr, have been desperately attempting to PREVENT the new financial system, agreed by the world’s central banks, from taking effect. They have been trying to delay the inevitable, thereby illegally PREVENTING Ambassador Wanta from making $1.575 trillion immediately available ON THE BOOKS via the special allocated tax account from which the US Treasury will draw, and further preventing the US Treasury from receiving windfall tax accruals estimated by the Ambassador to be likely to average at least $100 billion per banking day from start-up. With such numbers, Congress will be able to initiate a bail-out programme for hard-hit US mortgage holders, as is currently being debated - mitigating the overall economic consequences of the otherwise inevitable downward spiral of home real estate prices with an accumulating knock-on effect on the US economy generally.
SELF-INFLICTED ANNIHILATION OF REPUBLICAN PARTY
Clearly, continuation of the criminal operations preventing the Ambassador from implementing what the G-8 powers have referred to as The Wanta Plan since June 2006, will destroy what little remains of President Bush Jr’s reputation, will contribute to the self-inflicted annihilation of the Republican Party, and will ensure the accelerated Sovietisation of the United States from January 2009 onwards.
FORENSIC ANALYSIS OF THE ONGOING FRAUDS
That is the general background ‘as we speak’. Now for detailed information on fraudulent operations perpetrated by holders of the highest US offices and named institutions and bank officials since mid-July 2007, exploiting the hiatus deliberately contrived through the prevention of economic receipt ON THE BOOKS of Leo Wanta’s $4.5 trillion Settlement. In what ensues, we will expose the following crimes and their perpetrators, both individuals and institutions, and how they relate to the ‘Great American Mortgage Scam’:
Step 1: Fraud in the Inducement.
Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft.
Step 3: Theft by Deception and Fraudulent Conveyance.
STEP 1: FRAUD IN THE INDUCEMENT:
Given perpetuated non-performance by the US Treasury and Citibank in unlawfully withholding and exploiting the $4.5 trillion Settlement funds from Ambassador Leo Wanta and his AmeriTrust Groupe, Inc. – funds that have subsequently been stolen by President George W. Bush, former US President George H. W. Bush, Vice President Richard B Cheney, US Treasury Secretary Henry Paulson, Homeland Security Secretary Michael Chertoff, et al:
• On or around 18-19 July 2007, foreign governments (including China and the United Kingdom) pledged their own holdings of US Treasury securities as collateral for a cash-cash loan ostensibly intended to facilitate payment of the original $4.5 trillion cash funds that were placed in fiduciary trust with the US Treasury under the sole signatory control of the US Treasury Secretary, Henry M. Paulson, upon his arrival at the Treasury in June 2006. Those funds should have been paid to Ambassador Wanta immediately that month, but were instead corruptly diverted for other purposes by the former CEO of Goldman Sachs, who had taken in the funds in the first place and had controlled them while at his former institution, in what we subsequently described as the Grandfather of all financial conflicts of interest.
• 19 July 2007: The Bank of England and the US Treasury signified their acceptance of the Federal Reserve and the Bank of New York Mellon as the CONDUIT, via the Federal Reserve Interbank Settlement Fund, between the Bank of England and the respective banks – Credit Suisse, Union Bank of Switzerland, Deutsche Bank, Bank of America and Citibank on the one hand, and the AmeriTrust Groupe, Inc. securities account with Morgan Stanley within Citibank on the other, for the transfer of a total of $6.2 trillion to AmeriTrust Groupe, Inc. and some other recipients. Thus the total value of the foreign-held US Treasury securities pledged for this transaction was $6.2 trillion.
• 19 July: As previously reported, the Bank of New York Mellon informed the US Treasury that since it was now, with effect from 21st June 2007, a securities dealer following the merger with Mellon Asset Management in Pittsburgh, PA, that it would “GUARANTEE delivery [of the funds] to AmeriTrust Groupe, Inc’s securities account at Morgan Stanley’s securities account within the Citibank [NY] Morgan Stanley security house bank account” (quote unquote).
The funds were duly delivered to Bank of New York Mellon on 19th July 2007 and were supposed to just sit there, since the bank was merely a final stage of the conduit and had GUARANTEED delivery of the funds as stated, before proceeding on 20th July to the AmeriTrust securities account. The US Treasury was ready to transmit the funds; indeed the validation codes were duly obtained from the Treasury compliance officer with whom Leo Wanta and Michael C. Cottrell. M.S. were working, so that the funds could be transmitted to the Ambassador’s corporate securities account.
STEP 2: FRAUD IN FACT BY DECEIT (OBFUSCATION AND DENIAL) AND THEFT:
At that point, once again, everything ‘broke down’ from the perspective of the Ambassador and his corporation. The reason for the ‘breakdown’ was that a MULTIPLE CONTRIVED FRAUD was taking place throughout this process. We will summarise the component frauds here and then proceed with the ‘diary’, showing how they were perpetrated:
• FRAUD IN THE INDUCEMENT by concurring that the Bank of England, the Chinese authorities et al should go ahead and sign a ‘replacement’ loan backed by US Treasury securities, which would of course represent a mechanism to place funds ON THE BOOKS. Recall that the proceeds of bank loans are, by definition, ON THE BOOKS. In order for Ambassador Wanta’s Settlement to be paid, funds must be made available ON THE BOOKS. The Ambassador and Mr Cottrell have consistently REFUSED to countenance ANY OFF THE BOOKS financing, as previously reported.
• FRAUD IN FACT BY DECEIT AND OBFUSCATION by means of the previously reported device (elaborated below) of Bank of New York Mellon suddenly ‘requiring’ a LEVY, in order to ‘guarantee’ the funds before they could be sent on to the Morgan Stanley house securities account. This device facilitated the THEFT of the funds.
• FRAUD BY DECEPTION VIA FRAUDULENT CONVEYANCE, given that the levy was signed ostensibly to ‘GUARANTEE’ the $6.2 trillion on its way. In reality, what the levy procured was that it ‘guaranteed’ the actual monies TO THE BANK OF NEW YORK MELLON itself, a grotesque fraud which should raise pertinent and searching questions in the minds of anyone contemplating doing business with this organisation.
• SUBSIDIARY DECEPTION DEVICES included that episode whereby Mr Cottrell was advised by Bank of New York Mellon to contact the ‘Wire Room’, which lo and behold, ‘couldn’t find’ any trace of records concerning the $4.5 trillion. This kind of snide behaviour suggests that Bank of New York Mellon may use well-honed criminal deception techniques to steal funds belonging to others.
Through this fraudulent conveyance of the $6.2 trillion ‘replacement’ loan funds to the Bank of New York Mellon, BNY Capital Markets, the bank’s subsidiary, was then immediately in a position to proceed with NEW Leveraged Debt Obligations (LDOs) and Collateralised Debt Obligations (CDOs)OFF BALANCE SHEET, out through the closed Fed system, in order to generate OFF-BALANCE SHEET accruals for individual office-holders at the White House, the US Treasury, and the Federal Reserve.
In other words, the provision of this new infusion of ON THE BOOKS loan funds stumped up by the Bank of England and the Chinese was AGAIN DIVERTED to generate illegal OFF-BALANCE SHEET windfall accruals – that is to say, YET ANOTHER OPPORTUNITY to create fiat money out of thin air for personal enrichment purposes, rather than the funds being properly applied.
This behaviour represents TREASON in time of war – and during the Second World War, would certainly have resulted in the bankers concerned being taken to an army base and shot for treason against a wall.
• FRAUD BY CONVERSION: Of course, the Bank of New York Mellon, which was supposed to have been nothing more than a CONDUIT and had GUARANTEED delivery of the $4.5 trillion to the Ambassador’s corporate securities account, also perpetrated fraud by conversion, as part of this heinous multiple fraud operation.
RESUMING OUR ‘DIARY’ OF FRAUDULENT EVENTS:
• 20 July: As previously reported, the Bank of New York Mellon proves to be slow to approve the transfer of the $4.5 trillion funds to the Ambassador’s corporate securities account, ‘finishing the paperwork’ at 9:00pm Eastern Daylight on 19th July.
• 20 July: At 2.00pm Eastern Daylight Time, the US Treasury receives notice and authority from the White House to transfer the funds from Bank of New York Mellon to the AmeriTrust Groupe, Inc. corporate securities account Morgan Stanley coordinates. But Bank of New York Mellon then says it is “not ready yet” and needs 45 minutes more.
• At 3.46pm Eastern Daylight Time, the US Treasury provides Bank of New York Mellon with the validation codes plus instructions to transfer the funds to AmeriTrust Groupe, Inc’s Morgan Stanley securities account by no later than 4.00pm EDT.
• 21 July: The US Treasury confirms that the $6.2+ trillion are still held by Bank of New York Mellon. No explanation is given as to why this state of affairs has been allowed, or as to why the US Treasury’s instructions have been disregarded and so brazenly flouted. In this criminal banking environment, non sequiturs are standard practice. However (see below), the revelation that the funds are still being held by Bank of New York Mellon reveals the essence of the multiple fraud.
• 23 July: US Treasury Compliance advises that the wire instructions specifically required Mr Timothy F. Keaney, Co-Chief Executive Officer, BNY Mellon Asset Servicing, a member of Bank of New York Mellon’s Executive Committee (the organisation’s most senior management body, which overseas day-to-day operations), to register the transfer with the Wire Room, for further transfer to Morgan Stanley Securities. As we have established, the Wire Room purported to have no knowledge of the funds.
• BNY Mellon Asset Servicing boasts on its website that it is ‘recognised around the world as a leader and innovator in delivering broad capabilities that support global investment activity’ and that it is ‘the leading securities servicing provider as well as ‘the largest lender of US Treasury securities and depositary receipts, and a leading offshore fund administrator’.
• 23 July: US Treasury Compliance now advises that a message will be sent to Mr Keaney instructing him to register and place the funds on the screen. Furthermore, US Treasury Compliance will be sending a formal complaint to the Securities and Exchange Commission, banking compliance officials, and to the financial services committees of the US House of Representatives and the Senate.
• 23 July: US Treasury Compliance later advises that the complaint letters and the message to Mr Timothy F. Keaney have been STOPPED by US Treasury officials who had admonished the Treasury compliance officer concerned to cease and desist his (legitimate and correct) activities in respect of necessary oversight of the operations of the Treasury and Bank of New York Mellon, or else the compliance officer concerned would be subject to prosecution for treason against the United States under Patriot Acts I, II, and III.
This travesty by parties who are themselves engaged in committing TREASON rested upon deliberate misreadings of this legislation (although substantial portions of it were passed by Congress without legislators having ever had sight of the text, given that a huge amount of text was never made available to Congress at all and is understood never to have been published).
STEP 3: THEFT BY DECEPTION VIA FRAUDULENT CONVEYANCE:
• 26 July: A ‘levy’ has now been signed by Credit Suisse, Union Bank of Switzerland, Deutsche Bank, Bank of England, Citibank and Bank of America, and submitted to the US Treasury, the Federal Reserve and the Bank of New York Mellon, guaranteeing the cash and delivery of the funds to Bank of New York Mellon.
Here is the technical definition of such a ‘levy’, and of a ‘levy of execution’:
• “A levy… is an actual making the money out of the property…”. Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’… 4th Edition, St Paul, West Publishing Company, 1968, page 1051.
• “A levy of execution… means the setting aside of specific property from the general property of the debtor (signing banks) and placing it (the property) in the custody of the law (in this case, the Federal Reserve Bank of New York and Bank of New York Mellon) until it can be sold or applied to the payment of the execution”. Source: Black, Henry Campbell, M.A., ‘Black’s Law Dictionary’… 4th Edition, St Paul, West Publishing Company, 1968, page 1051.
• 27 July: US Treasury Compliance advises that “codes for the transfer to AmeriTrust Groupe, Inc. were issued and will be presented shortly. This will facilitate the transfer of the Wanta Settlement funds to the Morgan Stanley corporate securities account.
However, any further contact with any associate connected to Ambassador Wanta or Mr Cottrell will result in prosecution by the US Treasury for TREASON [see above].
BoNY MELLON-FED-US TREASURY SCAM, UNLAWFUL ACTS AND FRAUD UNMASKED
We will now pause from the ‘diary’ before revealing dramatic developments below, and summarise JUST SOME OF the unlawful acts, frauds and securities violations perpetrated in this context by Bank of New York Mellon, BNY Capital Markets, Inc., and Mellon Financial, with the assistance of technical legal definitions of the frauds in question:
Step 1: Fraud in the Inducement: “… is intended to and which does cause one to execute an instrument, or make an agreement… The misrepresentation involved does not mislead one as the paper he signs but rather misleads as to the true facts of a situation, and the false impression it causes is a basis of a decision to sign or render a judgment” Source: Steven H. Gifis, Law Dictionary, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.
Step 2: Fraud in Fact by Deceit (Obfuscation and Denial) and Theft:
• “ACTUAL FRAUD. Deceit. Concealing something or making a false representation with an evil intent [scienter] when it causes injury to another…”. Source: Steven H. Gifis, law Dictionary, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Fraud’.
• “THE TORT OF FRAUDULENT DECEIT… The elements of actionable deceit are: A false representation of a material fact made with knowledge of its falsity, or recklessly, or without reasonable grounds for believing its truth, and with intent to induce reliance thereon, on which plaintiff justifiably relies on his injury…”. Source: Steven H. Gifis, Law Dictionary, 5th Edition, Happauge: Barron’s Educational Series, Inc., 2003, s.v.: ‘Deceit’.
Step 3: Theft by Deception and Fraudulent Conveyance:
THEFT BY DECEPTION:
• “FRAUDULENT CONCEALMENT… The hiding or suppression of a material fact or circumstance which the party is legally or morally bound to disclose…”.
• “The test of whether failure to disclose material facts constitutes fraud is the existence of a duty, legal or equitable, arising from the relation of the parties: failure to disclose a material fact with intent to mislead or defraud under such circumstances being equivalent to an actual ‘fraudulent concealment’…”.
• To suspend running of limitations, it means the employment of artifice, planned to prevent inquiry or escape investigation and mislead or hinder acquirement of information disclosing a right of action, and acts relied on must be of an affirmative character and fraudulent…”.
Source: Black, Henry Campbell, M.A., Black’s Law Dictionary, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Concealment’.
• ‘FRAUDULENT CONVEYANCE… A conveyance or transfer of property, the object of which is to defraud a creditor, or hinder or delay him, or to put such property beyond his reach…”.
• “Conveyance made with intent to avoid some duty or debt due by or incumbent on person (entity) making transfer…”.
Source: Black, Henry Campbell, M.A., Black’s Law Dictionary, Revised 4th Edition, St Paul: West Publishing Company, 1968, s.v. ‘Fraudulent Conveyance’.
SECURITIES REGULATIONS OF WHICH BANK OF NEW YORK MELLON IS IN BREACH AND OF WHICH THE SIX ‘LEVY BANKS’ MAY BE, IN BREACH [CREDIT SUISSE, UBS, DEUTSCHE BANK, BANK OF AMERICA, CITIBANK, THE BANK OF ENGLAND]:
• NASD Rule 3120, et al.
• NASD Rule 2330, et al
• NASD Conduct Rules 2110 and 3040
• NASD Conduct Rules 2110 and IM-2110-1
• NASD Conduct Rules 2110 and SEC Rule 15c3-1
• NASD Conduct Rules 2110 and 3110
• SEC Rules 17a-3 and 17a-4
• NASD Conduct Rules 2110 and Procedural Rule 8210
• NASD Conduct Rules 2110 and 2330 and IM-2330
• NASD Conduct Rules 2110 and IM-2110-5
• NASD Systems and Programme Rules 6950 through 6957
In addition to which Bank of New York Mellon is in violation of:
• 97-13 Bank Secrecy Act Recordkeeping Rule for funds transfers and transmittals of funds, et al.
FURTHER FRAUD, LIES, OBFUSCATION AND DECEPTION
Having committed the aforementioned felonies and deceptions (those itemised so far being not necessarily complete), the organised criminal cadres running the biggest global financial corruption operation in history then came up with new variants of their serial deceptions in August:
• It was suddenly claimed that Citibank could not handle receipt of the funds because they would need to underwrite the transaction. In response to this lie, Michael C. Cottrell, M.S., Executive Vice President and Treasurer of AmeriTrust Groupe, Inc, pointed out that Citibank doesn’t need to underwrite anything, as it is merely a CONDUIT for the transfer of the funds [see above].
• With that lie shot down, the next ploy was the allegation that Morgan Stanley is not large enough to handle $4.5 trillion, so Morgan Stanley could not accept the funds. Whereupon Mr Cottrell asked the US Treasury’s compliance officer to inform him whether Morgan Stanley is approved for $4.5 trillion cash-cash. Compliance telephoned an associate of Mr Cottrell to confirm that Morgan Stanley is approved for $4.5 trillion by Treasury Compliance and the Federal Reserve, and that the allegation that Morgan Stanley is not approved to handle $4.5 trillion is a lie. (Note: In fact, in the aggregate, Morgan Stanley is approved to handle at least $8.0 trillion).
• 21 August: AmeriTrust Groupe, Inc. is informed that the US State Department and other parties had ‘signed off’, and that a key individual from Texas was at Citibank, New York, with effect from 11.00 am on 20th August ‘getting paid out’, a process that was likely to take ‘many hours’ [sic], and that AmeriTrust Groupe Inc, is ‘next on the list’ [sic]. This of course is back-to-front. Nothing can move until the Ambassador is paid, for reasons explained in our late July postings.
‘PUMPING UP THE STOCK MARKET’ WITH WANTA’S MONEY
In the published version of this report, which will be published as a Special Supplement to be distributed worldwide with the imminent double issue of International Currency Review, two charts will show how the Ambassador’s funds were used inter alia to ‘pump up the stock market’. This was achieved by keeping the funds with Bank of New York Mellon in collaboration with the Federal Reserve, directing liquidity via the CIA’s Bank of America to create a frantic buying/selling frenzy between Bank of America, Citibank et al – so that wheeling and dealing within the closed group of banks would both ‘pump up the stock market’ and at the same time generate profits which could then be split inter alia between the six ‘levy’ banks.
Thus the six ‘levy’ banks are CO-CONSPIRATORS engaged in this carousel of ongoing fraud.
INTRA-WEEK TRADING RANGE OF 1,000 POINTS POSSIBLE
The up/down yo-yo New York stock market intra-week trading range so far established for scamming purposes appears to be between 250 and 350 points in the late August holiday market. But in September, when traders are back at their desks in force, the intra-week exploitative trading range could easily widen to as much as 1,000 points, if the Ambassador has still not been paid. Such conditions would tip the US economy and the world into an uncontrollable crisis and a period of financial and economic instability without historical precedent
GLENN AUTORINO FIRED AS 'SACRIFICIAL LAMB'
The securities house BNY Capital Markets Inc, owned by Mellon Financial, has been engaged in particularly heinous fraudulent activity. Earlier in August, Michael C. Cottrell, M.S., telephoned John Mohr at Bank of New York Mellon, who said he would ‘look into the matter’ (in the same non-committal vein as Mr Frazier of the Wisconsin Department of Revenue, who did nothing after he told the Editor on 3rd November 2006 that he would ‘have to look into’ his Department’s tax fabrications against the Ambassador, as previously reported).
Mr Mohr then contacted Glenn Autorino, Managing Director and Co-Head of Syndicated Finance at BNY Capital Markets, Inc., the Managing Director and co-head of the institution’s Syndicated Finance Group. This fellow was previously a Vice President and founding member of the Barclays Middle Market Corporate Finance Group, where he provided private placement and financial advisory services to ‘middle market’ clients. Barclays is ‘not a nice’ institution.
Mr Autorino was not only the compliance officer for Bank of New York Mellon: he was also the compliance officer for the corrupt Bank of England in respect of the entire $6.2+ trillion referred to above. As a consequence of Mr Mohr’s internal investigations, it was established that Autorino had been taking orders from Mr Donald Kohn, Governor of the Federal Reserve Board, NOT TO RELEASE THE FUNDS TO THE AMBASSADOR.
Faced with this situation (which of course they must have known all about) the General Management decided that they needed a ‘sacrificial lamb’, and accordingly they FIRED GLENN AUTORINO. That, of course, does not mean that the Directors of BNY Capital Markets, Inc, are not culpable, because manifestly they are. Later, when Mr Cottrell telephoned Mr Mohr a second time, the voice at the other end said, quick as a flash: ‘Oh, he’s gone for the day. Goodbye’. But both Mohr and Keaney remained in situ at the time of this posting – once again raising the pertinent question: WHAT ON EARTH ARE THE GOLD BADGES FOR? DECORATION?
‘SUB-PRIME’ CRISIS ERUPTED AS THEY WERE BEING FOUND OUT
In other words, BNY Capital Markets, Inc., GOT FOUND OUT. And this is the generic reason for the so-called ‘sub-prime’ market crisis, which continues to reverberate around the world; and it is the generic reason for the associated stock market near-crash and its subsequent severe wobbles:
AS A DIRECT CONSEQUENCE OF THE ILLEGAL CAROUSEL GAMES THESE CRIMINALS HAVE BEEN PLAYING WITH AND SURROUNDING THE WANTA FUNDS, THE BANKSTERS AND THEIR OFFICIAL SPONSORS ARE GETTING FOUND OUT.
Yet, notwithstanding that these criminal operatives and banksters are being unmasked and found out, THEY ARE CONTINUING WITH THEIR CRIMINAL FINANCIAL OPERATIONS – and appear hell-bent on manufacturing as much untaxed ‘fiat’ money for themselves, which they intend to continue holding offshore while at the same time postponing the inevitable installation of the new international financial system to which the world’s central banks have all agreed.
Indeed, at the widely-publicised meeting between Senator Christopher Dodd (Stalin’s grandson), Dr Ben Bernanke, Chairman of the Federal Reserve Board, and Henry M. Paulson, the US Treasury Secretary on DATE, at which Senator Dodd was supposed to have read the riot act to these clowns, and cited the NASD an d SEC Regulations of which they are in breach, Dr Bernanke specifically undertook ‘to do everything in his power’ to ensure that the Wanta Settlement is finalised – a pledge that he and his colleague Mr Kohn have, of course, immediately reneged upon. While Bernanke was giving this empty undertaking, Mr Paulson reportedly sat there long-faced and indicated by his body language that he disagreed and had no intention of complying.
THEY USUALLY OPERATE WITH TWO SETS OF INSTRUCTIONS
In case the Rest of the World is now more confused than ever, please remember the Leninist DUPLICATION rule which governs everything these Luciferians do. This applies at every dimension and at every stage of all such American official and bankster financial scamming operations, whether perpetrated against their own people or against the gullible Rest of the World.
• All concerned may have TWO SETS OF INSTRUCTIONS.
• This equips them with the option of speaking out of both sides of their face, with impunity (so they imagine), and of choosing which set of instructions to comply with, depending on the time of day.
• All these illegal transactions are duplicated, either specifically (deal by deal) or generically, as in the case of the $27.5 trillion raised in 1989-92 to ‘match’ the $27.5 trillion of which Ambassador Wanta remains the sole owner, Principal, and Trustor, to this day. The $27.5 trillion raised from the 200+ international banks has been FROZEN, by the way, for some time (jeopardising also, of course, the $300+ trillion overleveraged on the base of the aggregate $27.5 trillion as collateral).
• As we have seen above, this Leninist, double-minded DUPLICATION principle ‘enables’ organised crime to overleverage and sell TOTAL TRASH to complacent foreign ‘takers’ who may perform inadequate or zero ‘due diligence’, while at the same time intermingling such paper with paper based on low-quality underlying assets (that is to say, a modicum of actual substance). Both such operations represent ABSOLUTE, TOTAL FRAUD that is no different in concept from the bucket shop frauds of the 1920s and the classic Ponzi schemes of that era.
• Equipped with his DUPLICATED sets of orders – one ostensibly from President Bush Jr. requiring Leo Wanta’s Settlement to be paid, and countermanding instructions from former President Bush Sr. demanding that Paulson should continue to frustrate the Wanta payment (at least until Bush Sr. has recovered the $2.0 trillion that he lost early in the year, but probably with the intention of perpetuating the frauds), Paulson has continued to follow the DUPLICATED instructions he has received from Bush Sr. In so doing, Paulson is committing TREASON against the United States by taking instructions from a former President contrary to the instructions handed down by the incumbent President. By exploiting this deliberate dialectical dichotomy, Bush Sr. and Bush Jr. are able to continue their reckless scams, even though their treachery and fraudulent criminal activity is being exposed almost in ‘real time’.
AMERICAN FINANCIAL WARFARE OPS. AGAINST ‘ALLIES’
A further dimension of all this is that the US Federal Reserve and the US Treasury appear to be engaged in Financial Warfare operations against so-called US ‘allies’. We have seen how the US organised crime syndicate lodged at the highest level of the US Government and its associates, have stolen The Queen’s gold in a blatant ‘Act of War’ against the United Kingdom. By the same token, US operatives have been systematically scamming French and German banks, selling them worthless trash paper backed by no assets, which has been bought exclusively by association on the name of the purportedly reputable institution or entity pushing the paper. But beneath the veneer of banking and financial ‘rectitude’, the sordid reality is that the buyer is dealing with organised crime lurking behind the cover of the US name.
UNPRECEDENTED GLOBAL INTELLIGENCE WAR
And behind this Financial Warfare lurks an unprecedented global and US domestic intelligence war, which in turn reflects the ruthless eruption of Luciferian animosities that have been raging for years behind the scenes between different factions of the Illuminati, and which have broken out into open-ended secret warfare. The US organised criminal cadres that have hijacked key power centres within the US structures are taking advantage of this state of affairs and may be planning to go to war with Iran in order to cover up their criminality, rather than see their stolen fake ‘assets’ taxed and frozen following the installation of the reformed ON THE BOOKS financial system which The Wanta Plan will initiate – and to which the Group of Seven powers have acceded and the world’s central banks have agreed to support.
But in order to achieve this escape route, they need to full support of the US military, which is reliably understood to be furious that it, like the US State Department, is being systematically deceived and lied to by the White House, the Treasury and the Fed. More to the point. going to war will NOT make this FINANCIAL crisis 'go away'. THIS crisis cannot be buried by another crisis, as THIS crisis will 'eat up' any crisis these maniacs may be plotting to instigate.
US unbacked trash transactions modelled along the lines generically described above necessitated the initial sudden extension of a 17.3 billion Euro ($23.6 billion) line of credit to Landesbank Sachsen Girozentrale (Sachsen LB), which had exposures to dodgy investments of 17 billion Euros, equal to more than ten times its core capital and to over 25% of its total assets, by a group of German savings banks on 17th August, prior to the troubled entity being ‘sold’ to Landesbank Baden Wurttemberg.
Stefan Kleusder a Sachsen LB Board Member in charge of a subsidiary operation based in Dublin, resigned as the bank’s ‘sacrificial lamb’ on 23rd August. On the following day, BayernLB, a large state-owned German bank, acknowledged that it had invested in ‘assets’ described as being ‘linked to risky US home loans’ – without of course admitting that it was actually referring to unbacked US TRASH derivatives scamming paper.
Earlier, in late July, the German bank IKB Deutsche Industriebank, required a bailout worth 8 billion Euros, with the state bank KfW, already the owner of 37% of KfB, agreeing to assume financial responsibility for the bank’s failed investments in paper backed by US mortgage loans described as ‘poorly rated’ but which in fact were TRASH, with NO UNDERLYING ASSET BACKING AT ALL.
FLOGGING WORTHLESS UNBACKED U.S. PAPER TO FOREIGNERS
In other words, these American scamsters and banksters – aided and abetted by Barclays Bank, which is among the most active British institutions in this field (just look at the faces of its top personnel) – have been escaping the statutory need for US securities to be registered. They have been ignoring the ‘Blue Sky’ laws, a stance facilitated by the so-called ‘reform’ of the Glass-Steagall Act which had separated investment banking from commercial banking following the crises of the 1920s and 1930s precisely to frustrate such criminal excesses; and they have at the same time been conducting economic warfare against Britain, France and Germany by pumping out unbacked, overleveraged trash paper, irrespective of the consequences. We did warn Germany that its risky accumulation of questionable paper might have serious consequences given the lethal animosity of these organised criminals, and it looks as though that warning was accurate – as Chancellor Merkel may finally be starting to understand.
In recent weeks, the Bundesbank and the German Finance Ministry have attempted repeatedly to soothe the anxieties of investors, by disseminating the lie that Germany’s banking sector exposure to the so-called ‘sub-prime fallout’ is limited to only a small number of institutions.
WANTA FUNDS FINANCING THEIR FASCIST AGENDA
While all this has been going on, the Cheney-Bush financial crime syndicate, now joined by Nicolas Sarkozy, are exploiting the Wanta-designated loan funds provided by the Bank of England and the Chinese, in de facto pursuit of their Fascist agenda to buy up the real economy in a series of corrupt ‘sweetheart deals’.
Using the Wanta trillions as base, they are floating new, overleveraged hypothecated paper developed by their associates for their buddies, to finance more and more ‘in-house real economy sweetheart deals’ – enabling the Big Barons (Bush Sr. Bush Jr., Cheney, et al) to buy up the resulting good paper, and the properties underlying them. So, all of a sudden, they are not buying debt any more: they are buying real, on-the-books assets, along classic corporate Fascist lines.
Among such deals which, lo and behold, have been arranged by BNY Capital Markets Inc, have been the acquisitions of Xcel Energy (for $800 million), Winstar (for $1,15 billion), CVS, the pharmacy chain (for $795 million), Silverstein Properties, the former Twin Towers landlord ($140 million), Insight Communications ($1.75 billion), Hilton ($1,145 billion), Westvaco ($500 million), Cordiant Communications Group ($400 million) and Salem Communications Corporation ($225 million).
YET THEY KNOW WHAT’S COMING DOWN…
Supplementing the Fascist-corporatist political motive here, ironically, is the need these people instinctively and paradoxically feel, given the immense pressure exerted by Wantagate, to replace or supplement their offshore, off-balance sheet untaxed assets with onshore, taxable, on-balance sheet real counterpart assets. This demonstrates their comprehensive double-mindedness.
On the one hand, they keep delaying the inevitable initiation of the new financial system to which the world’s central banks have committed, while on the other hand they are nonetheless preparing for the inauguration of the new financial system. That way, they hedge their bets, in their usual double-minded, two-faced, dialectical Illuminati manner.
In the meantime, by delaying implementation of The Wanta Plan, depriving the US Treasury of massive on-balance sheet tax accruals while they enrich themselves personally off-balance sheet, they are corroding the real US economy – completing the process that Bush Sr. began when he initiated the offshoring of manufacturing production which has hollowed out US and British manufacturing capacity (in accordance with pan-German long-range strategy) – and destroying the middle class, while these criminal cadres hype their own paper assets with money stolen from the Chinese, the Bank of England and Ambassador Wanta’s AmeriTrust Groupe, Inc., selling the paper and assets to themselves at huge profits on-balance sheet, and using BNY Capital Markets, Inc., which holds Leo Wanta’s $4.5 trillion, as the vehicle to tidy up their books.
Instead of buying debt, they are now concentrating, as indicated, on buying ‘real’ assets – indicating a possible ultimate intention or illusion of ‘going straight’ when they have to face the reality of the new ‘clean’ international financial system.
CHINESE GRIEVANCES AGAINST THE UNITED STATES
The Chinese, in particular, have been deceived so often by these organised US criminals-in-office, that serious consequences may ensue at any time – not excluding extensive Chinese dumping of US Treasury securities, and other financial ‘warfare’ operations. It is likely, inter alia, that the Chinese authorities will be cooperating with the ICJ to have the US Treasury Secretary arrested, given the multiple deceptions, thefts, lies and frauds that Mr Paulson has relentlessly perpetrated against them since he took office in June 2006, and first hijacked the $4.5 trillion originally sent over by the People’s Bank of China, as reported in the Petition for a Writ of Mandamus [see the posting dated 9th August 2007]. This was particularly offensive to them, since Ambassador Wanta, the only American they trust (with good reason), was given the probably unprecedented private honour – just as The Queen honoured Ambassador Wanta with an honorary knighthood in recognition of his special services on behalf of the United Kingdom and the Commonwealth.
Moreover given the US Treasury Secretary’s appalling behaviour when he visited the Chinese capital at the beginning of August, literally anything could happen on this score. On meeting Madame Wu, the Chinese Minister of Finance, the uncouth Paulson shook her by the hand and grabbed her by the shoulder, pulling her close to him.
Even in the West, such behaviour to a respected lady would be considered disgraceful. But to Madame Wu and the Chinese, who are always very well behaved, such behaviour was nothing less than a gross, disgusting, barbaric affront.
Chinese contacts have informed us that Henry Paulson’s crude antics were such an affront that Madame Wu screamed at him, while senior Party officials screamed at him likewise, and told him to go home. Specifically, Paulson was told that his presence, especially given his dreadful display of crude bad manners, was not required and that he should ‘get his butt back to the United States and pay Wanta’. So he packed his bags and left.
THE MOST CORRUPT TREASURY SECRETARY OF ALL TIME
Before this fellow was sworn in as Treasury Secretary in 2006, he told an informant, whom Paulson himself mentored at Goldman Sachs, that he would be taking care of Ambassador Wanta. But on being sworn in, Paulson betrayed this undertaking and advised President Bush that if he was given carte blanche, he could make all of the ‘buddies’ a great deal of money – an undertaking with which the President concurred. Given Paulson’s questionable past reputation, that was to be expected. But the man seems wholly impervious to the fact that he is loathed by all Western Governments, the Chinese and the Russians, and that he has earned for himself a reputation as the most corrupt and disastrous US Treasury Secretary of all time – which is quite a record, given that most US Treasurers have been corrupted. But this man Paulson is in a category all on his own, as the whole world reading these reports will agree.
GREENSPAN TRIED TO STEAL $3.0 TRILLION
As for the operative in whose tradition Paulson functions – the lately imprisoned and subsequently released former Chairman of the Federal Reserve, Dr Alan Greenspan – he was of course ‘running’ Ambassador Wanta’s money, plus the DUPLICATED $27.5 trillion, under Presidents Bush Sr. and Clinton. Then he tried to steal $3.0 trillion for himself – and got caught. He was given a certain transactional immunity from December 2005 and through 2006 to perform on the Wanta Settlement, but failed (on purpose), and then left office as he had earlier indicated he would, when he had been reappointed for an unprecedented fifth term (so that he could continue the lucrative off-balance sheet scams on behalf of all concerned). The precise triggers for Greenspan’s arrest on or around 15tth Jun e this year are not known to the Editor: but, as with Sir Eddie (Lord) George, they had to do with the continuing frustration of the Wanta Settlement.
FASCIST (DVD) MASTERPLAN AGAINST ‘THE MAIN ENEMY’
Taking a broader view, in conclusion, we can see that this open-ended high-level corruption behaviour represents part of a pathetic Fascist masterplan to accelerate the depletion of the US (and British) economies, and to generate conditions which would make it possible for the offshore money controlled by the organized crime syndicate sitting at the apex of the US Federal Government, to pick up real assets at fire-sale prices across-the-board, as was attempted in 1929 and the early 1930s. Such an outcome would, as intended, create two classes: the privileged, monied elite living off stolen funds and assets, and the serfs.
This mad agenda is self-evidently at loggerheads with, and extremely antagonistic to, The Wanta Plan, which will refinance the United States by conducting legal, taxed high-yield investment programmes for the immediate ongoing windfall benefit of the US Treasury – so that, instead of proceeds going into privately held untaxed offshore accounts, as has scandalously been the case since the crime syndicate seized lethal control of the Federal Government at the highest levels, the enormous ongoing taxed accruals will transform the US Treasury’s finances, enabling urgently needed infrastructure projects to be undertaken after decades of neglect, taxes to be reduced over time, and the Treasury’s immense and unsustainable ‘background debt’ to be paid down – with all transactions conducted transparently and on the books.
THESIS: THE UNSTABLE, CORRUPT STATUS QUO.
ANTITHESIS: THE STABILISING WANTA PLAN
In other words, what can now be seen with crystal clarity is the following typically Illuminist dialectic:
• Thesis: Unstable criminal Fascist takeover of real assets using stolen money and illegal untaxed offshore assets held off the books and brought onshore, no questions asked, yielding when taken to its logical conclusion two classes: the monied elite and the serfs – a certain recipe for a messy dictatorship, since authoritarian control and concentration camps are the only means by which such a system can survive, albeit only for a brief period of time, contrary to the Hitlerian aspiration of the Thousand-Year Reich (hinted at by the DVD chief, George Bush Sr. when he spoke about ‘a thousand points of light’). At the same time, by not remitting the funds already paid by the Chinese to the Ambassador, the syndicate has created a house of cards: the stock market was lucky not to have collapsed by 2,000 points on 17th August 2007. Since Ambassador Leo Wanta’s securities account had not taken receipt of the long overdue $4.5 trillion, the European institutions were withholding dollars to help force the issue – thereby depleting aggregate liquidity in the dollar system (with the balance of payments deficits now scarcely covered by foreign inflows).
• Antithesis: The Wanta Plan, refinancing the US Treasury and the US economy, precluding the otherwise likely recession or depression, creating sound, sustainable prosperity for all both at home and abroad, revalidating the US dollar as the world’s denomination currency, stabilising the stock market, banishing real fears of a hyperinflation, and facilitating real and lasting tax cuts right across the board. Under the intended new financial system, all economic participants will be taxed, and the maintenance of untaxed, secret offshore accounts will become a thing of the past, except in the offshore centres themselves, to which locations some will flee. However all transactions originally conducted in dollars will be traceable, thanks to derivatives of the PROMIS software, which can trace up to 100 transactions backwards, we are advised. Finally, implementation of The Wanta Plan, even at this late stage, has the potential to rescue the confused, compromised, myopic, self-serving Republican Party from suffering an election defeat so massive – even taking account of any intended gross manipulation of electronic voting equipment and voting lists – that it could be out of power for a generation, or destroyed altogether, as the orchestrated sharing of power between the two dialectical components of ‘The Party’ collapses. (It is the stated intention of the covert Soviet dimension of the World Revolution that no ‘conservative’ parties should continue to exist). And lastly, The Wanta Plan still retains the potential to save President George Bush Jr. from the fate of being remembered as by far the worst President in American history.
• Synthesis: Untypically, no synthesis between these two dialectical ‘opposites’ is possible. Both Ambassador Wanta and Michael C. Cottrell, M.S., have doggedly insisted throughout, that they will NOT operate clandestinely off-the books. Everything will be done transparently and on the books, in accordance with the new financial environment agreed by the world’s central banks, and there will be a level taxation playing field for all (with the promise and reality, by definition, of the reward of progressive tax reductions in the United States over time).
NO RECONCILIATION BETWEEN THEM IS POSSIBLE
It can be seen that these two opposing regimes are anathema to one another – so much so, in fact, that the Thesis will CERTAINLY LEAD TO A CATASTROPHIC INTERNATIONAL FINANCIAL AND ECONOMIC DISASTER, whereas (late) implementation of The Wanta Plan will GUARANTEE THE REFINANCING, REHABILITATION AND LONG-TERM PROSPERITY OF THE UNITED STATES AND THE REST OF THE WORLD FOR A GENERATION.
• Addendum, 30 August 2007: As at 1.00pm Eastern Daylight Time on this date, the Ambassador’s stolen/diverted $4.5 trillion had still not been credited to the AmeriTrust Groupe, Inc. corporate securities account with Morgan Stanley/Citibank, New York. Gold Badges had again been purposely misled by the US Treasury, the White House and the Federal Reserve, which were saying that Ambassador Wanta had been paid – the same trick as that perpetrated by Paulson back in the fall of 2006. On telephoning Michael C. Cottrell, M.S., the Gold Badges found out of course that the Ambassador has not been paid. Mr Cottrell advocates the immediate arrest of Donald A Kohn, Henry M. Paulson and the former US Attorney General, Alberto Gonzales.
• Continuing fall-out: The head of Collateralised Debt Obligations (CDOs) at Barclays Capital, Ed Cahill, has left the firm, as have CDO specialists at Bear Stearns, Citibank and HSBC. Rick Caplan, Managing Director and co-head of CDOs at RBS Greenwich Capital has left the bank along with six of his colleagues. Royal Bank of Scotland aggressively and profitably marketed CDOs , both originating deals and selling them on. Mr Caplan had previously been with Citigroup, where he had been co-head of credit derivatives, and had once advised Enron. He appeared before a US Senate Committee investigating the ensuing US intelligence-manipulated scandal. Citigroup was accused by Senators of helping Enron to disguise debts through sham transactions ‘worth’ billions of dollars, whereas the bank argued that such transactions were legitimate! On 29th August, London-based Cheyne Capital, a hedge fund, managed at the last moment to cobble together a loan of 3.3 billion pounds from large institutions, to prevent its immediate collapse.
APPENDIX: The following International Herald Tribune article is appended.
The article confirms that academics and selected market participants are apt to address every related issue under the sun, except the one issue that is most relevant to the crisis they are concerned about – the CRIMINALISATION of the financial markets led by the United States.
WHY IS IT THAT THESE PEOPLE CANNOT YET UNDERSTAND, EVEN AT THIS LATE STAGE, THAT WE ARE DEALING WITH SYSTEMATIC ONGOING U.S. CRIMINAL INTELLIGENCE AND BANKSTER SCAMMING OPERATIONS DESIGNED SO AS TO FLEECE FOREIGN INSTITUTIONAL AND OTHER ‘TAKERS’ ON THE ASSUMPTION THAT THEY PROBABLY FAIL TO PERFORM NECESSARY DUE DILIGENCE, AND WILL RELY ON THE NAME? URGENT MESSAGE TO THE REST OF THE WORLD: FOR HEAVEN'S SAKE, WAKE UP, AND TAKE ON BOARD THAT THIS IS A FASCIST ORGANISED CRIMINAL ATTACK ON CIVILISATION!
One inadequate reason for this blindness, to which the Editor has alluded in the recent past, is that, in the serene and untroubled academic world, professors have no experience at all of organised criminal behaviour. The very concept is utterly alien to such people.
It is less alien to market participants who comment on these matters, and who should know better.
CALLS GROW LOUDER FOR INTERNATIONAL OVERVIEW OF U.S. MARKETS
By Heather Timmons and Katrin Bennhold
International Herald Tribune: Tuesday, August 28, 2007
Politicians, regulators and financial specialists outside the United States are seeking a role in oversight of American markets, banks and rating agencies in the wake of recent problems related to subprime mortgages.
Their argument is simple: The United States is exporting financial products, but losses to investors in other countries suggest that American regulators are not properly monitoring the products or alerting investors to the risks.
"We need an international approach, and the United States needs to be part of it”, said Peter Bofinger, a member of the German Government's economics advisory board and a Professor at the University of Würzburg.
While regulators in the United States have not been receptive to the idea in the past, analysts said that Europe and Asia have more leverage this time around. Washington might have to yield if it wants to succeed in imposing bilateral regulations on state-owned investment funds from emerging economies.
"America depends on the rest of the world to finance its debt," Bofinger said. "If our institutions stopped buying their financial products, it would hurt”.
Banks and investment funds from China to France were recently hit with heavy losses after buying mortgage-related securities and complex financial products originating from the United States.
In many cases, investors were caught by surprise because American rating agencies gave the products top ratings, leading buyers to believe there was little risk. International investors are also asking why American banks were allowed to give mortgages to home buyers who could not repay them.
"In a globalized economy with hedge funds, leveraged buyouts and all these investment funds, we have to ask the question about more transparency”, said Claude Bébéar, Chairman of the Supervisory Board of AXA, one of the world's largest insurers.
Half a dozen U.S. banking and financial regulators including the Securities and Exchange Commission (SEC) and the Federal Reserve Board would not comment. [Editor: They could hardly comment, could they, as they are ‘part of the problem’ – Ed.]. Several mentioned, however, that they were not the sole regulators of the subprime market.
In Europe, the credit crisis appears to have emboldened those who have pushed for stricter international rules for some time.
The German Government was rebuffed by Washington and London earlier when it pushed for an international code of conduct for hedge funds [at the G-8 Meeting in June – Ed.]. Now some economic advisers to the German Government are going further, suggesting that rating agencies should be nationalized, that large-scale loans be registered publicly and that minimum standards be developed for complex debt securities.
The head of the French Council of Economic Analysis, which advises the Prime Minister, said hedge funds should be subject to stricter disclosure rules about their risk exposure.
Christian de Boissieu, President of the group and a member of the Committee for Credit and Investment Institutions, which helps regulate the French banking sector, is also calling for a global register of all hedge funds. In addition, he said, complex securities should be scrutinized before being authorized for banking portfolios.
President Nicolas Sarkozy of France, who has vowed to "moralize financial capitalism" (a remarkable statement, in view of his alleged participation following his visit to Kennebunkport – Ed.) has asked his Finance Minister, Christine Lagarde, to prepare a proposal for stricter disclosure rules on market participants before a meeting of the Group of 7 countries' finance ministers in October [at the IMF/World Bank Annual Meetings – Ed.].
On Monday, in a foreign policy speech, Sarkozy called again for an enhanced global rule book to avoid financial crises.
Such crises could recur, "if the leaders of major countries fail to take resolute concerted action to foster transparency and regulation of international markets”, Sarkozy said.
The Chinese central bank said on Tuesday that it was moving to standardize information disclosure of all asset-backed securities as it expands its own market for these financial instruments. Information about loans, terms and borrowers will need to be included in any new securities that are introduced in China, it said.
The United States and Britain are the genesis of the bulk of the world's sophisticated financial products, like the ones that broke down recently, in part because Wall Street banks have a big presence in both countries.
"At the heart of the issue is that the largest financial institutions continue to innovate and create ever more sophisticated products”, said Chris Rexworthy, director of enhanced regulatory services at IMS Consulting, a London compliance consulting firm, and a former regulator with the British Financial Services Authority. [NO. At the heart of the issue is the fact that criminal practices (selling unbacked overleveraged trash securities to unsuspecting foreigners) have proved highly lucrative for US and British financial institutions, which have turned blind eyes to the reality that such unregistered securities marketing operations are criminal activities – Ed.].
Regulators around the world talk about the importance of stress-testing, Rexworthy said, but the recent developments create concerns that "institutions are either not investing enough effort in this, getting it wrong, or just producing things too complex for their risk-assessment models to cope with”, he said. "Greater cooperation on the international stage between regulators is undoubtedly one of the things we need to see more of”.
U.S. regulators are aware of the problem. American banking and financial services regulators conducted a series of surveys and reviews dating back to 2005 that found that credit standards had loosened for home loans, and that borrowers in some cases did not understand or qualify for the loans they were given.
Some financial institutions are managing the risk from nontraditional mortgage loans by following more prudent underwriting, the U.S. Federal Deposit Insurance Corporation said in September 2006, while some are "spreading the risk of these products to investors”.
Some American regulators have been pushing for more international cooperation in general. The Securities and Exchange Commission has been discussing greater hedge fund oversight in recent months, and it has signed several cooperation agreements with regulators from China to Germany over the past 18 months.
The Commission is a "very active member" of the International Organization of Securities Commissions, the global body that brings together all securities regulators, said Andrew Larcos, the international group's Public Affairs Officer. "They do understand the need for closer international cooperation”. Still, he added, because the subprime mortgage loans that kicked off this current crisis [NOT TRUE: SEE ABOVE – ED.] were primarily from the United States, the situation "obviously raises questions about how that market is regulated”.
In the United States, much of the blame is being focused on rating agencies [scapegoats – Ed.], which are paid by banks for rating products, and which sometimes attached investment-grade ratings to securities that turned out to be less so.
Joseph Mason, a finance Professor at Drexel University in Philadelphia, and Josh Rosner, Managing Director of the research firm Graham Fisher, have pushed for more oversight of rating agencies.
"It's not just the U.S. regulators that failed, though they did fail”, Rosner said. International banking regulators have "thrown the keys to the rating agencies”, which have been left in charge of the safety and soundness of bank capital, insurance and pension money.
In Australia, where investors have embraced financial products like derivatives and swaps, several hedge funds were hard hit by exposure to subprime loans, and analysts said they expected it would be months before the extent of the problem is seen.
As geographical boundaries are broken down, "a problem in one location is a problem everywhere”, said Dick Bryan, a Professor of Economics at the University of Sydney. In the aftermath of a credit crunch, "there is the need to challenge the sovereignty of national regulators – why should the rules of lending in the U.S. be left to U.S. regulators when the consequences go everywhere?"
Asian nations were pushing for some regional cooperation even before the credit crisis, as cross-border investing and their equity markets have boomed. The South Korean market regulator, the Financial Supervisory Committee, has been particularly vocal on the issue.
"Regulators and policymakers in the region are quietly looking at the unfolding developments and asking many questions to themselves about what's happening and what should be done”, said Douglas Kim, a spokesman for the South Korea regulator. "Few would doubt that more policy cooperation and coordination are in the region's interest even in times of market calm”, he said.
In general, Washington's reaction has been that it wants "no form of oversight”, said Kenneth Rogoff, an economics Professor at Harvard and a former Chief Economist of the International Monetary Fund. "We're talking about America's most dynamic export industry”. ENDS.
Editor’s observation: So, ‘America’s most dynamic export industry’ consists of criminally marketing unbacked trash derivatives paper to unsuspecting foreigners who don’t do their due diligence.
LAWS BREACHED BY CRIMINAL OPERATIVES WHO HAVE HIJACKED AMBASSADOR SIR LEO WANTA’S TAGGED $4.5 TRILLION SETTLEMENT AGREED AT HIGHEST U.S. LEVELS IN BAD FAITHIN MAY 2006, AND HAVE CONTINUED THEIR SERIAL FINANCIAL CRIMES EVER SINCE:
• Annunzio-Wylie Anti-Money Laundering Act
• Anti-Drug Abuse Act
• Applicable international money laundering restrictions
• Bank Secrecy Act
• Conspiracy to commit and cover up murder.
• Crimes, General Provisions, Accessory After the Fact [Title 18, USC]
• Currency and Foreign Transactions Reporting Act
• Economic Espionage Act
• Hobbs Act
• Imparting or Conveying False Information [Title 18, USC]
• Maloney Act
• Misprision of Felony [Title 18, USC] (1)
• Money-Laundering Control Act
• Money-Laundering Suppression Act
• Organized Crime Control Act of 1970
• Perpetration of repeated egregious felonies by State and Federal public employees and their Departments and agencies, which are co-responsible with the said employees for ONGOING illegal and criminal actions, to sustain fraudulent operations and crimes in order to cover up criminal activities and High Crimes and Misdemeanours by present and former holders of high office under the United States
• Provisions pertaining to private business transactions being protected under both private and criminal penalties [H.R. 3723]
• Provisions prohibiting the bribing of foreign officials [F.I.S.A.]
• Racketeer Influenced and Corrupt Organizations Act [R.I.C.O.]
• Securities Act 1933
• Securities Act 1934
• Terrorism Prevention Act
• Treason legislation, especially in time of war
This list shows to what extent the Bush II Administration condones one Rule of Law for the Rest of Us, and absolute contempt for domestic and international law for the officials and bankers who are illegally diverting and exploiting Sir Leo Wanta’s funds.
The Directors and others listed in Part 1 of the Wantagate Listing of Institution Directors and others posted on 11th June may likewise be Accessories to the Fact of, and/or co-conspirators in, wittingly or unwittingly, the egregious violation of the laws itemised above.
U.S. CODE, TITLE 18, PART 1, CHAPTER 1, SECTION 4: MISPRISION OF FELONY:
‘Whoever, having knowledge of the actual commission of a felony cognizable by a court of the United States, conceals and does not as soon as possible make known the same to some Judge or other person in civil or military authority under the United States, shall be fined under this title or imprisoned not more than three years, or both’.
NEW WANTAGATE ISSUE OF INTERNATIONAL CURRENCY REVIEW: SEPTEMBER 2007
An announcement about the new Wantagate issue of International Currency Review, (544 pages) and its 48-page Supplement showing the Wanta-related documents released by the Ronald Reagan Library by consent of the National Security Agency, will be posted in the near future, on the second (Books/Subs) panel, Home Page. A further Supplement containing inter alia flow-charts showing
how the corrupt financial carousel operates (in the above context) will also be distributed. Orders for International Currency Review may be placed using the secure ordering facility on this site.
The Ronald Reagan Library documents prove of course that Leo Emil Wanta advised and served President Reagan personally. In the massive forthcoming Wantagate ICR, the Editor has assembled all the Presidential Pardons dished out by President Clinton, to demonstrate that the vast majority of those pardoned by that particular criminal US President were drug dealers, money-launderers, financial criminalists, murderers-for-hire, and perpetrators of abominations familiar to students of organised crime. It was with particular interest that the Editor noticed that some of those pardoned had been imprisoned for ‘Misprision of felony’*. This section, called ‘Pardongate’ will be found in the front part of the forthcoming issue. (One poor fellow was imprisoned for stealing four pounds of butter, which adds to our perception that, on the same penal tariff, the perpetrators of the financial crimes that we have had to expose, face several lifetimes in the US GULAG each).
Ambassador Leo Emil Wanta: Diplomatic Passport Numbers 04362 & 12535 a.k.a. Frank B. Ingram [FBI] (Sector V) SA32NV; and a.k.a. Rick Reynolds, SA233MS. AmeriTrust Groupe, Inc: Federal EIN Number 20-3866855; Virginia State Corporation Identification Number: 0617454-4; Virginia State Department of Taxation Identification Number: 30203866855F001
• Please be advised that the Editor of International Currency Review [ISSN 0020-6490] cannot enter into email correspondence related to this or to any of the earlier Wantagate reports.
We are a private intelligence publishing house and have no connections to any outside parties including intelligence agencies. The word ‘intelligence’ on this website and in all our marketing material is used for marketing/sales purposes only and has no other connotations whatsoever: see ‘About Us’ on the red panels under the Notes on the Editor, Christopher Story FRSA, who has been exclusively engaged as an investigative journalist, Editor, Author and private financial and current affairs Publisher since 1963 and is not and never has been an agent for a foreign power, malevolent suggestions to the contrary being actionable for libel in the English Court.
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