Be still, know I am God

Here come signs of spring

It’s such a beautiful thing

Flowers blooming all around

New hope to be found

Joy sounding in our hearts

There’s always hope to start

It’s a feeling down deep inside

It’s nice to loose our pride

A spark of desire running wild

Looking in the eyes of a child

No worries what to do today

Tomorrow is just a smile away

To be the most we can be

In all our adventures we see

The results of our feelings

Being pulled into being

We’re much more than fear

Bringing forth the light near

Searching deep inside for truths unseen

Everything that we are has always been
(transcend)

We’re part of the whole scheme

Things aren’t what they seem

We’re both the dark and the light

Looking for something that feels so right

Confusion seems to be falling away

Letting free choice guide us today

Hoping to choose what is right

We have the goal in our sight

Too many thoughts and words

Running wild, it’s so absurd

Stopping for a moment in time

Feeling the words of this rhyme

What does it really all mean

Is there more we must make clean

Happiness is a fleeting thing it seems

Joy is the large smile that we beam

A knowingness to go within

Strength comes when we begin

Balancing our thoughts and receive

Being quiet brings us peace, just believe

2008 POEM ,by Rev. Joshua Skirvin

Wednesday, 18 April 2012

A Rare Solar Eclipse Alignment Will Happen Between the Earth, the Sun and, our central Sun, Alcyone in the Pleiades Constellation

"The Pyramid of the Sun outside Mexico City at Teotihuacan is said to be aligned with the Pleiades, for its west face and many of the surrounding streets were aligned directly with the setting point of the Pleiades on midnight of the night when it is at its highest point. The Pleiades was clearly revered also by the Mayans, who in the area of Chichen Itza knew that the Sun casts a snake-like shadow on the side of the north stairway of the Kukulcan pyramid during the spring equinox. Some scholars have calculated that about 60 days after this shadow’s appearance, when the sun reaches its zenith over the Pyramid at mid-day (May 20 – May 23), there is another direct alignment with the Pleiades. This Pleiades-sun alignment may have a direct connection with Quetzalcoatl, the feathered serpent that came to bring a greater wisdom to the planet. 

The ancient Egyptians also singled out the Pleiades as a female goddess, probably most often recognized as Neith, the “divine mother”, or Hathor, who took on the form of a cow (who carried the seeds of life). Pyramidologists working in Egypt in the last twelve years have found pyramidal texts that suggest the Egyptians revered the Pleiades as a higher divine star system, especially Alcyone, its brightest star." 

What is an annular solar Eclipse 

A solar eclipse occurs when the Moon passes between Earth and the Sun, thereby totally or partially obscuring the image of the Sun for a viewer on Earth. An annular solar eclipse occurs when the Moon’s apparent diameteris smaller than the Sun, causing the Sun to look like an annulus (ring), blocking most of the Sun’s light. An annular eclipse appears as a partial eclipse over a region thousands of kilometres wide. 

The annular phase will be visible from the Chinese coast, the south of Japan, and the western part of the United States and Canada. Guangzhou, Tokyo and Albuquerque will be on the central path. Kanarraville, Utah will be a perfect place to view the annular phase. Its maximum will occur in the North Pacific, south of the Aleutian islands for 5 min and 46.3 s, and finish in the western United States. 

It will be the first central eclipse of the 21st century in the continental USA, and also the first annular eclipse there since the solar eclipse of May 10, 1994. 

The annular solar eclipse will pass over the western United States. This video is an animated map showing the path of the eclipse over Oregon, California, Nevada, Utah, Arizona, Colorado, New Mexico and Texas. 



MYTH AND PROPHECY for the Annular Solar Eclipse of May 20, 2012 

Nostradamus Quatrains on May Earthquake 

X 67. A mighty earthquake in the month of May.
Saturn, Capricorn, Jupiter, Mercury in Taurus: Venus also. Cancer, Mars in Nonnay (cero). Hail will fall larger than an egg. 

IX 83. Sun twentieth of Taurus the earth will tremble very mightily.
It will ruin the great heater filled:
To darken and trouble air, sky and land
Then the infidel will call upon God and saints

‘Return of the Jaquar Serpent’ – Mayan prophecy 

The Center of the Sky – The Sun and Pleiades conjunction on May 20 (current era)
A possible Kukulcan / Quetzalcoatl manifestation between (March 21 – May 20)
The Mayan lore predicts that after a global earthquake, the “new men of knowledge” will return to earth to usher in a global government (New World Order). 

Alignment on May 20, 2012: An alignment of the earth, moon, and Sun – but the Pleiades Star System also aligns simultaneously from behind the Sun at precisely the same time. 



Crop Circle Date May 20, 2012 

Clip from the 16th Annual International UFO Congress. Jaime Maussan giving an interpretation of a crop circle with a sign that indicate that there will be some kind of event (Mesoamerican feathered serpent “star god” diety Quetzalcoatl may possibly return) around May 20, 2012. 



Edgar Cayce’s Visions and Predictions 

In 1941, Cayce predicted that coastlines now of many a land will be the bed of the ocean. 

He warned: Watch New York, Connecticut and the like. Many portions of the east coast will be disturbed, as well as many portions of the west coast, as well as the central portion of the United States. Los Angeles, San Francisco, most of all these will be among those that will be destroyed before New York, or New York City itself, will in the main disappear. This will be another generation though, here; while the southern portions of Carolina, Georgia, these will disappear. This will be much sooner. The waters of the Great Lakes will empty into the Gulf of Mexico. 

There will be the upheavals in the Arctic and in the Antarctic that will make for the eruption of volcanoes in the torrid areas, and there will be the shifting of the poles. Edgar Cayce’s Visions and Predictions 

Coincidental alignment of the mysterious Red X 

The center will be directly over the mysterious Google Earth RED X location supposedly leaked by NASA last year in the file named byss.arc.nasa 11133.kml. In 2011. It was also “coincidentally” the exact location of the Exercise Pacific Wave 11 tsunami drill in 2011. 

‘The great Earthquake’


This eclipse is the first of three remarkable astronomical events of 2012, followed by the transit of Venus on June 6, 2012 and a total solar eclipse on November 13, 2012. 
Source: thetruthbehindthescenes ,Catalyzin Change , RiseEarth , UnhealthyEarth

Barack Obama Is The First United Nations President

Saman Mohammadi
Prisonplanet.com
May 19, 2012

“In our globalist existence, the authority for the US to initiate hostilities against another country comes from the UN, declared Obama and Panetta. If the executive branch can persuade or bribe the UN to give a war OK, Congress is no longer relevant.” – Paul Craig Roberts, “Are Americans Catching On, Waking Up, Unplugging?”

President Barack Obama has continued the secret policy of destroying the sovereignty and wealth of the United States to the benefit of the private transnational interests who control the United Nations, the CIA, Wall Street, and the global banking system. Numerous American presidents, both Republican and Democrat, are on board with this treasonous political agenda.

Obama is not an “American” president; he is a United Nations president.

The criminal international banksters and secret societies behind the creation of the United Nations, and the Barack Obama icon, use fraud, usury, debt, terror, deception, propaganda, false flags, and war to get what they want out of countries. They treat all countries like third world colonies, including America. The people are plundered and destroyed, while the 

criminal elite are protected.

The election of Obama represents a massive constitutional crisis in America because he was born in Kenya, and is thus illegally holding the office of the presidency. He is the presidential equivalent of an illegal alien. It is hard to believe this is true because it is pretty wild. But no intellectually honest person can ignore the evidence and defend Obama’s claim that he was born in America. It is illogical to deny the facts and stick to illusions.

The significance of Obama’s true birthplace is monumental. The entire American experiment is being put into question. The U.S. Constitution has been thrown out. America is fully controlled by genocidal war criminals who teach young and impressionable soldiers that wiping out Islam and using nukes on Middle Eastern cities is a military solution to end the mythic “clash of civilizations,” between the West and Islam.

Obama, far from being a secret Muslim, is actually a secret CIA agentwho likes the idea of attacking Iran as much as any Neocon, Israeli, and fascist. Obama is not a peacemaker or a saint. Like the mad king of Israel, Obama is a mad psychopath who lies for a living. He worships the god of war because only war can unleash the forces of violent change and political transformation.

Obama and his masters are secretly working to cause the destruction of America, along with Israel, Iran, and other nations in the Middle East. Obama does not desire peace with Iran, but an epic and total warthat will culminate in the establishment of a world authoritarian state with U.S. military power to back it up.

In September 2009, Obama became, “the first-ever U.S. president to chair the United Nations’ 15-member Security Council,” (Source: NBC Chicago). That was only the beginning. Obama is probably being primed to be the first United Nations president, since he is obviously not a legitimate and legal American president.

The fraudulent elections of Bush and Obama signaled the destruction of America. Bush’s elections were fraudulent because they were stolen, and Obama’s election was fraudulent because he was born in Kenya, not America.

Both the American presidency and the Congress have been destroyed. These institutions are dead. The plan of the globalist fascists is to completely destroy America as an independent political unit with its own national constitution and destiny.

The 1913 Federal Reserve Act destroyed America’s financial independence, so the subversion and destruction of America from within has been a century-long effort by the Anglo-American oligarchy. Secrecy, totalitarian deception, and terrorism are their three main weapons. The treasonous American media has been their biggest ally in their silent war on the American Constitution and the American people.

Infowars.com points out that Obama was a British subject at the time of his birth. I guess this is the British Empire’s way of getting back at the rebellious American people for defeating the British army in the 18th century and creating a free and independent government.

But Obama is more than a joke. Obama is like a political virus who is attacking the U.S. national nervous system and destabilizing the natural defenses of the body politic. Obama kills silently, in the night, when everybody is asleep and dreaming.

Since he came into office, Obama has done nothing to better the lives of the American people and improve the American nation. Even if he wanted to help the American people and make America better, he would be stopped by his masters because, as Alex Jones says in this video, he is compromised.

Obama is blackmailable from head to toe. The enemies of America, both foreign (Israel) and domestic (Wall Street banksters, criminal multinational corporations, political opponents), love the fact that Obama is in the White House.

The mythic fairytale about the Osama Bin Laden killing was intended to make the public believe that Obama is in charge and he is a great war leader. But Obama takes orders, he doesn’t give them. There would be no difference if a slave or a robot was in the White House instead of Obama. Obama is worse than a robot and a slave. He is a psychopathic liar and killer who loves death and destruction.

Saman Mohammadi is the writer and editor at The Excavator

JPM’s CIO Loss Widens to $5 Billion?

Last weekend we advised SD readers that our sources had informed us that JPMorgan’s derivatives losses sustained by their CIO desk were actually $100 Billion, not the $2 Billion admitted by Jamie Dimon to investors.
Well, one week later, the MSM (WSJ) is now reporting that JPM’s CIO has now lost $5 billion.

Perhaps more interesting, the WSJ states that Jamie Dimon personally approved the delta-hedging of its interest rate swaps positions which has resulted in the FUBAR derivatives losses for JPM.

So lets get this straight.  The Big Cahuna who approved the strategy gets a $23 million bonus, and reappointed as CEO by shareholders, while Iksil and boss Achilles who implemented the trade for Dimon get shown the door and have The Morgue attempt to claw-back their bonuses?

 

The US mega-bank JPMorgan Chase & Co loss from derivatives trading may widen to 5 billion dollars, the Wall Street Journal reported on Friday. CEO Jamie Dimon personally approved the strategy that led to the trades, without monitoring how they were executed, the newspaper said.

JPMorgan last week announced a 2 billion dollars trading loss on synthetic credit products, or derivatives tied to credit performance. Dimon said the transactions, intended to manage risk, were “egregious” failures by the bank’s chief investment office. JPMorgan has said the amount could increase by 1 billion or more as it winds down the positions.

Joseph Evangelisti, a spokesman for New York-based JPMorgan, declined to comment on the 5 billion dollar estimate. 

The largest US lender by assets didn’t have a treasurer during the five months when the trades took place, the Journal reported in a separate article.

JPMorgan’s chief investment office oversees about 360 billion dollars, or the difference between deposits and what the bank lends. Matt Zames, who was appointed to lead the division after the loss was reported, shook up leadership and announced a “renewed focus” on hedging risks.

Unrestrained Stimulus and Draconian Austerity: Two Sides of the Same Coin

Washington’s Blog
May 18, 2012

Liberal economists and financial wonks say that we need to stimulate more to avoid falling back into an economic abyss.

Conservative economists and financial gurus say that we need to tighten our belts and live within our means, or the tsunami of debt will wipe out our prosperity, and that of our children and grandchildren.

We’ve repeatedly noted that neither stimulus or austerity can ever work … unless and until the basic problems with the economy are fixed.

But stimulus and austerity are not only insufficient … they are actually 2 sides of the same coin.

Specifically, the central banks’ central bank warned in 2008 that bailouts of the big banks would create sovereign debt crises. That is exactly what has happened.

Remember, it is not the people or Main Street who are getting bailed out … it is the giant banks.

A study of 124 banking crises by the International Monetary Fund found that propping up banks which are only pretending to be solvent hurts the economy:

Existing empirical research has shown that providing assistance to banks and their borrowers can be counterproductive, resulting in increased losses to banks, which often abuse forbearance to take unproductive risks at government expense. The typical result of forbearance is a deeper hole in the net worth of banks, crippling tax burdens to finance bank bailouts, and even more severe credit supply contraction and economic decline than would have occurred in the absence of forbearance.

Cross-country analysis to date also shows that accommodative policy measures (such as substantial liquidity support, explicit government guarantee on financial institutions’ liabilities and forbearance from prudential regulations) tend to be fiscally costly and that these particular policies do not necessarily accelerate the speed of economic recovery.

***

All too often, central banks privilege stability over cost in the heat of the containment phase: if so, they may too liberally extend loans to an illiquid bank which is almost certain to prove insolvent anyway. Also, closure of a nonviable bank is often delayed for too long, even when there are clear signs of insolvency (Lindgren, 2003). Since bank closures face many obstacles, there is a tendency to rely instead on blanket government guarantees which, if the government’s fiscal and political position makes them credible, can work albeit at the cost of placing the burden on the budget, typically squeezing future provision of needed public services.

In other words, the “stimulus” to the banks blows up the budget, “squeezing” public services through austerity.

But instead of throwing trillions at the big banks, we could give some stimulus to Main Street. It wouldwork much better at stimulating the economy.

And instead of imposing draconian austerity, we could stop handouts to the big banks, stop getting into imperial military adventures and stop incurring unnecessary interest costs (and see this).  This would be better for the economy as well.

Why aren’t we doing this?

Underneath the false left-versus-right puppet show, this is not a financial crisis … it’s a bank robbery.

As we wrote last year:

Economists note:

A substantial portion of the profits of the largest banks is essentially a redistribution from taxpayers to the banks, rather than the outcome of market transactions.

Indeed, all of the monetary and economic policy of the last 3 years has helped the wealthiest and penalized everyone else. See this, this and this.

A “jobless recovery” is basically a redistribution of wealth from the little guy to the big boys.

***

Economist Steve Keen says:

“This is the biggest transfer of wealth in history”, as the giant banks have handed their toxic debts from fraudulent activities to the countries and their people.

Nobel economist Joseph Stiglitz said in 2009 that Geithner’s toxic asset plan “amounts to robbery of the American people”.

And economist Dean Baker said in 2009 that the true purpose of the bank rescue plans is “a massive redistribution of wealth to the bank shareholders and their top executives”.

The money of individuals, businesses, cities, states and entire nations are disappearing into the abyss …

… and ending up in the pockets of the [super-elite].

Passionate liberal Keynesians and committed fiscal conservatives might both want to guard against being manipulated into seeing only part of the picture. If the powers-that-be are manipulating the game so that they get the stimulus the little guy gets the austerity, then neither stimulus or austerity as currently being implemented are for the greater good.

Evidence Obama Born In Kenya Goes Beyond 1991 Brochure

Establishment media pulls stunt in effort to diffuse ‘birther’ controversy

Paul Joseph Watson
Friday, May 18, 2012

The establishment media hastily seized on yesterday’s explosive story about a literary publication listing Barack Obama’s birthplace as Kenya in an effort to claim that the 1991 brochure was the “origin” of the entire ‘birther’ issue. In reality, evidence that Obama was born in the African country is abundant.

A literary agent’s promotional text for a 1991 brochurereleased yesterday by Breitbart.com states Obama was “born in Kenya and raised in Indonesia and Hawaii.”

Yahoo News, along with a deluge of other mainstream news outlets, responded by reporting that the document was potentially the “source” of the birther controversy and had merely been a mistake.

The literary agent who wrote the description, Miriam Goderich, now works with Dystel & Goderich agency, which lists Obama as one of its clients. Unsurprising therefore that Goderich hastily claimed listing Obama’s birthplace as Kenya was “nothing more than a fact checking error.”

However, evidence to indicate that Obama war born in Kenya is plentiful and it goes significantly beyond the 1991 version of the brochure.

- Despite claiming the passage about Obama’s birthplace being Kenya was a mistake, the listing still maintained that Obama’s birthplace was Kenya until after Obama became a U.S. Senator. “Goderich’s statement fails to explain why the “fact checking error” persisted for sixteen years, through at least three different versions of Jane Dystel’s website, and through at least four different versions of Obama’s biography,” reports Breitbart.com.

- The literary agency also updated the text in June 1998, but the part about Obama being born in Kenya was retained.

- The text was again updated in February 2005 to reflect the fact that Obama had become a Senator, but Kenya was still listed as his birthplace.

- After an April 2007 modification of the text, the passage still read Obama, “was born in Kenya.”

- As Steve Boman reveals, the Dystel & Goderich agency asks its clients to submit their own biography, meaning it’s virtually impossible the listing of Obama’s birthplace as Kenya could have been a “fact checking error” on behalf of the literary company itself.

- During a speech about HIV, First Lady Michelle Obama said she and Barack Obama “visited his home country of Kenya.” Watch the clip below.

- In 2008, Obama’s paternal step grandmother appeared to indicate publicly that Barack Obama was born in Kenya. In an interview conducted by American Christian minister Ron McRae, Sarah Obama was asked, ‘Were you present when your grandson was born in Kenya?’” McRae testified in his sworn statement. “This was asked to her in translation twice, and both times she replied, “Yes! Yes she was! She was present when Obama was born.”

- Another source who met Sarah Obama told World Net Daily, “I have keenly and attentively listened to the tape over and over again, and I can confirm from Sarah’s own confession that Barack Obama was born in Kenya in her presence.”

- A separate Kenyan government official agreed, stating, “I have listened to the tape. The preacher asked whether Barack Obama was born in Mombassa, and the translator asked the same. When she said Mombassa, it was like a surprise, and those there thought she could not have meant to say Mombassa.”

- When New York Times bestselling author Jerome Corsi traveled to Kenya to investigate the claims, he was almost immediately kicked out of the country by Kenyan officials.

- When Kenya’s National Security Intelligence Service investigated claims that Obama was born in Kenya, officials in Nairobi found “relevant birth records may have been removed or were missing.”

- Obama has deep political connections in Kenya. From 2006 onwards he rallied in support of Islamist Raila Odinga in Kenya, helping him impose Sharia law. When Odinga lost the Kenyan election in 2008, his supporters rioted, unleashing a wave of violence. Despite the bloodshed, Obama used his influence to aid Odinga in retaining his position as part of a coalition government.

For the mainstream media to imply that the 1991 brochure is the “source” of the claim that Obama was born in Kenya is completely inaccurate. Not only was that brochure updated many times right up until 2007, with the information about Obama’s birthplace being Kenya retained, but there are numerous other factors which all indicate that Kenya could indeed be Obama’s homeland.

*********************

How The U.S. Dollar Will Be Replaced

Brandon Smith
Alt-Market
Thursday, May 17, 2012

After being immersed in the world of alternative economic analysis for several years, it sometimes becomes easy to forget that most people do not track forex markets, or debt to GDP ratio, or true unemployment, or hunch over IMF white-papers highlighting subsections which expose the trappings of the globalist ideology.  Sometimes, you just assume the average person knows what the heck you are talking about.  This is, of course, a mistake.  However, it is a mistake that is borne from the inadequacy of our age and our culture, and is not necessarily a product of weak character, either of the analyst, or the casual reader.

The great frustration of being actively involved in the Liberty Movement is the fact that many people are rarely on the same page (or even the same book) during political and economic discussion.  Where we see the nature of the false left/right paradigm, they see “free democracy”.  Where we see a tidal wave of destructive debt, they see a “responsible government” printing and spending in order to protect our “best interests”.  Where we see totalitarianism, they see “safety”.  Where we see dollar devaluation, they see dollar strength and longevity.  Ultimately, because the average unaware citizen is stricken by the disease of normalcy bias and living within the doldrums of a statistical fantasy world, they simply have no point of reference by which to grasp the truth when exposed to it.  It’s like trying to explain the concept of ‘color’ to a man who has been blind since birth.

Americans in particular are prone to reactionary dismissal when exposed to facts that disrupt their misconceptions.  Our culture has experienced a particularly prosperous age, not necessarily free from all trouble, but generally spared from widespread mass tragedy for a generous length of time.  This tends to breed within societies an overt and unreasonable expectation of ease.  It generates apathy, and laziness.  A crushing blubberous slothful cynicism subservient to the establishment and the status quo.  Even the most striking of truths struggle to penetrate this smoky forcefield of duplicitous funk.

In recent articles, I have outlined the very immediate dangers of several potential economic events that are likely to take place this year, including the exit of peripheral countries from the European Union, the conflict between austerity and socialist spending in France and Germany, the developing bilateral trade agreements between China and numerous other countries which cut out their reliance on the U.S. dollar, and the likelihood that the Federal Reserve will announce QE3 before the end of 2012.  All of these elements are leading in one very particular direction:  the end of the Greenback as the world reserve currency.

In response to these assertions I have received letters from some people (some of them indignant) questioning how it would be even remotely possible that the dollar could be replaced at all.  The concept is so outside their narrow world view that many cannot fathom it.

To be sure, the question is a viable one.  How could the dollar be unseated?  That said, a few hours of light research would easily produce the answer, but this tends to be too much work for the fly-by-night financial skeptic.  Sometimes, the job of the alternative analyst is to make the obvious even more obvious.

So, let’s begin…

The Dollar A Safe Haven?

This ongoing lunacy is based on multiple biases.  For some, the dollar represents America, and a collapse of the currency would suggest a failure of the republic, and thus, a failure by them as individual Americans who live vicariously through the exploits of their government.  By extension, it becomes “patriotic” to defend the dollar’s honor and deny any information that might suggest it is on a downward spiral.

Others see how the investment world clings to the dollar as a kind of panic room; a protected place where one’s saving will be insulated from crisis.  However, just because a majority of day trading investors are gullible enough to overlook the Greenback’s pitfalls does not mean those dangerous weaknesses disappear.

There is only one factor that shields the dollar from implosion, and that is its position as the world reserve currency.  Without this exalted status, the currency’s value vanishes.  Backed by nothing but massive and unpayable debt, it sits frighteningly idle, like a time bomb, waiting for the moment of ignition.

The horrifying nature of the dollar is that it is only valuable so long as foreign investors believe that we will pay back the considerable debts that we (the American taxpayer at the behest of our criminally run Treasury) owe, and that we will not hyperinflate in the process.  If they EVER begin to see their purchases of dollars and treasuries as a gamble instead of an investment, the façade falls away.  Yet again this year Congress and the Executive Branch are “at odds” over the expansion of the debt ceiling, which has been raised to levels beyond the 100% of GDP mark:

http://www.nytimes.com/2012/05/17/us/politics/obama-presses-congress-to-act-on-his-priorities.html

Barack Obama has made claims that increases in the debt ceiling are “normal”, and that most presidents are prone to hiking the barrier every once in a while.  Yet, back in 2006, when George W. Bush increased debt limits, Obama had this to say:

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills…Instead of reducing the deficit, as some people claimed, the fiscal policies of this administration and its allies in Congress will add more than $600 million in debt for each of the next five years…Increasing America’s debt weakens us domestically and internationally. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.”

For once, Barack and I agree on something.  Too bad the man changes his rhetoric whenever it’s to his advantage.

Today, Obama now asserts that raising the debt ceiling is not an opening for more government spending, but an allowance for the government to pay bills it has already accrued.  This is disingenuous and hypocritical prattle.  Obama is well aware as are many in Congress that as long as the Federal Government is able to raise the debt ceiling whenever it suits them, they can increase spending with wild abandon.  It’s like handing someone a credit card with no maximum limit.  For most men, the temptation would be irresistible.  Therefore, one can predict with 100% certainty that U.S. spending will never truly be reduced, and that our national debt will mount in tandem until we self destruct.

How has this trend been able to continue for so long?  Our private central bank has created the fiat machine by which all economic depravity is possible.  Currently, the Federal Reserve is the number one holder of U.S. debt.  The Federal Reserve creates its own capital.  It prints its wealth from thin air.  The dollar, thus, has become its own lynchpin.  The secretive institution which has never been subject to a full audit is now monetizing endless debt mechanisms with paper promises.  What value would any intelligent investor put on such a fraudulent economic system?

The epic dysfunction of the dollar is rooted in its reliance on perception rather than tangible wealth or strong fundamentals.  It is, indeed, like any other fiat unit, with all the inevitable pitfalls built into its structure.

Ironically, the value of the Dollar Index is measured not by its intrinsic buying power, or its historical buying power, but its arbitrary buying power in comparison with other collapsing fiat currencies.

The argument I hear most often when pointing out the calamitous path of the dollar is that it is the go-to safe haven in response to the crisis in Europe.  What the financially inept don’t seem to grasp is that the shifting of savings back and forth between the euro and the dollar is just as irrelevant to our currency’s survival as it is to Europe’s.  BOTH currencies are in decline, and this is evident by the growing inflationary pressures on both sides of the Atlantic.  Ask any consumer in Greece, Spain, France, or the UK how shelf prices have changed in the past four years, and they will say the exact same thing as any consumer in the U.S.; costs have gone way up.  Therefore, it makes sense to compare the dollar’s value not to the euro, or to the Yen, but something more practical, like the dollar of the past….

In 1972, just as Nixon was removing the dollar from the last vestiges of the gold standard, a new car cost an average of $4500.  A home cost around $40,000.  A gallon of gas was .36 cents.  A loaf of bread was .25 cents.  A visit to the doctor’s office was $25.  Wages were certainly lower, but they kept much better pace with the prices of the era.  Today, the gap between wages and inflation is insurmountable.  The average family is unable to keep up with the flashflood of rising prices.

According to the historic buying power of the dollar, the currency is a poor safe haven investment.  With the advent of bailout efforts and debt monetization through quantitative easing, its devaluation has been expedited dramatically.  The Fed has left the door open for what I believe will be a final destructive round of publicly announced QE, weakening the dollar to near death:

http://www.reuters.com/article/2012/05/16/us-usa-fed-idUSBRE84F12320120516

The question then arises; why do foreign countries continue to buy in on the greenback?

The Dollar Dump Has Already Begun

One of my favorite arguments by those defending the dollar is the assertion that no foreign country would dare to dump the currency because they are all too dependent on U.S. trade.  To answer the question above, the reality is that foreign countries ARE already calmly and quietly dumping the dollar as a global trade instrument.

To those people who consistently claim that the dollar will never be dropped, my response is, it already has been dropped!  China, in tandem with other BRIC nations, has been covertly removing the greenback as the primary trade unit through bilateral deals since 2010.  First with Russia, and now with the whole of the ASEAN trading bloc and numerous other markets, including Japan.  China in particular has been preparing for this eventuality since 2005, when they introduced the first Yuan denominated bonds.  The bonds were considered a strange novelty back then, especially because China had so much surplus savings that it seemed outlandish for them to take on treasury debt.  Today, the move makes a whole lot more sense.  China and the BRIC nations today openly call for a worldwide shift away from the dollar:

http://news.xinhuanet.com/english2010/indepth/2011-08/06/c_131032986.htm

With the global proliferation of the Yuan, and the conversion of the Chinese economy away from dependence on exports (especially to the West) towards a more consumer based system, the Chinese have effectively decoupled from their reliance on U.S. markets.  Would a collapse in the U.S. hurt China’s economy?  Yes.  Would they still survive?  Oh yes.  Far better than America would, at least…

In 2008, I warned of this development and was attacked on all sides by more mainstream economists and Keynesian proponents who stated that such a development was impossible.  Today, it’s common knowledge that our primary creditors are “diversifying” away from the dollar, though MSM talking heads and those who parrot them still claim that this is not a threat to our economy.

To be clear, the true threat to the dollar’s supremacy is not only due to the constant printing by the private Federal Reserve (though that is a nightmare in the making), but the loss of faith in our currency as a whole.  The Fed does not need to throw dollars from helicopters to annihilate our currency; all they have to do is create doubt in its viability.

The bottom line?  A dollar collapse is not “theory” but undeniable fact in motion at this moment, driven by concrete actions on the part of the very nations that have until recently propped up our debt obligations.  It is only a matter of time before the dollar diminishes and fades away.  All signs point to a loss of reserve status in the near term.

What Will Replace The Dollar?

My next favorite argument in defense of the Greenback is the assertion that there is “no currency in a position to take the dollar’s place if it falls”.  First of all, this is based on a very naïve assumption that the dollar will not fall unless there is another currency to replace it.  I’m not sure who made that rule up, but the dollar is perfectly able to be flushed without a replacement in the wings.  Economic collapse does not follow logical guidelines or the personal pet peeves of random man-child economists.

Though, to be fair, and to educate those unaware, there IS a replacement already conveniently ready to roll forward.  The IMF has for a couple of years now openly called for the retirement of the dollar as the world reserve currency, to be supplanted by the elitist organization’s very own “Special Drawing Rights” (SDR’s):

http://www.guardian.co.uk/business/2011/feb/10/imf-boss-calls-for-world-currency

The SDR is a paper mechanism created in the early 1970’s to replace gold as the primary means of international trade between foreign governments.  Today, it has morphed into a basket of currencies which is recognized by almost every country in the world and is in a prime position to take the dollar’s place in the event that it loses reserve status.  This is not theory.  This is cold hard reality.  For those who claim that the SDR is not considered a “real currency”, they should probably warn the U.S. Post Office, which now uses conversion tables that denominate costs in SDR’s:

http://pe.usps.com/text/imm/immc3_007.htm

So, now that we know a replacement for the dollar is ready to go, the next obvious question would be:

Why would global elites destroy a useful monetary tool like the dollar?  Why kill the goose that “lays the golden eggs”?

People who ask this question are simply unable to see outside the fiscal box they have been placed in.  For global bankers, a paper currency is not important.  It is expendable. Like a layer of snake skin; as the snake grows, it sheds the old and dawns the new.

At bottom, men who promote the philosophies of globalization greatly desire the exaltation of a global currency.  The dollar, though a creation of a central bank, is still a semi-sovereign monetary unit.  It is an element that is getting in the way of the application of the global currency dynamic.  I find it rather convenient (at least for those who subscribe too globalism) that the dollar is now in the midst of a perfect storm of decline just as the IMF is ready to introduce its latest fiat concoction in the form of the SDR.  I find the blind faith in the dollar’s lifespan to be rife with delusion.  It is not a matter of opinion or desire, but a matter of fact that currencies in such tenuous positions fall, and are in the end replaced.   I believe that the evidence shows that this is not random chance, but a deliberate process, leading towards the globalist ideal; total centralization of the world under an unaccountable governing body which operates a global monetary system utterly devoid of transparency and responsibility.

The dollar was a median step towards a newer and more corrupt ideal.  Its time is nearly over.  This is open, it is admitted, and it is being activated as you read this.  The speed at which this disaster occurs is really dependent on the speed at which our government along with our central bank decides to expedite doubt.  Doubt in a currency is a furious omen, costing not just investors, but an entire society.  America is at the very edge of such a moment.  The naysayers can scratch and bark all they like, but the financial life of a country serves no person’s emphatic hope.  It burns like a fire.  Left unwatched and unchecked, it grows uncontrollable and wild, until finally, there is nothing left to fuel its hunger, and it finally chokes in a haze of confusion and dread…

THE VETTING - EXCLUSIVE - OBAMA'S LITERARY AGENT IN 1991 BOOKLET: 'BORN IN KENYA AND RAISED IN INDONESIA AND HAWAII'

---

Print ArticleSend a Tip

Journey,with no end

Time is endless,in contemplation,

Welcome to the human condition.

As we step through the portal,

Because we are immortal.

We all want to be known,

Complex is the family,shown.

For who and what we really are,

its time to go within,for sure.

To become all that we can perceive,

what we are in eternity,believe.

Thus the journey within begins ,

when we forgive our so called sins.

We think we are alone and lost,

All the time that we pay the cost.

With all we can be now,

someday,someway, somehow.

We all see what we want to see,

And are what we want to be.

If we are awaken from the sleep,

Of what we were told, to be sheep.

Reprogramming is our right to choose,

Between the two,they surely will lose.

We are what we want to be, its free,

Survival is more than living there reality.

We have to go where the light is very bright ,

Can show us where to begin the flight.

Only the voice within has the power,

to show us the way home,this hour.

Our Wisdom does come from above,

And as we know,also so does Love.

remember To be all that we can be,

In the joyful light of eternal destiny!

Copyrighted 5/17/12 by Rev.Joshua Skirvin

Chemtrail conspiracy theory

From Wikipedia, the free encyclopedia

It seems that the chem-trails are getting much worse. This is deadly bio-war fare that is being sprayed on us the people of earth as we are struggling to survive as we await the arrival of our GFL friends who where supposed to stop them so we can awake and ascend but in the last months it has gotten much worse and people are very sick and barley able to function let alone do our job and finish our mission. I am doing everything in my power to stay alive including using much herbs and a mask when they are spraying. We really need to look at this poison that they are spraying us now for many years and no-one so far including the GFL has been able to stop them. Study up now.Take care, be safe.ADONAI Rev, Joshua

Jump to: navigation, search

"Chemtrails" redirects here. For the Beck song, see Chemtrails (song).

A high-flying jet leaving a condensation trail (contrail)

The chemtrail conspiracy theory holds that some trails left by aircraft are actually chemical or biological agents deliberately sprayed at high altitudes for purposes undisclosed to the general public in clandestine programs directed by government officials.^[1] This theory is not accepted by the scientific community, which states that they are just normal contrails, and that there is no scientific evidence supporting the chemtrail theory.

As a result of the popularity of the conspiracy theory, official agencies have received thousands of complaints from people who have demanded an explanation.^[1][2] The existence of chemtrails has been repeatedly denied by scientists around the world, who say the trails are normal contrails.^[3] The United States Air Force states that the theory is a hoax which "has been investigated and refuted by many established and accredited universities, scientific organizations, and major media publications".^[4] The United Kingdom's Department for Environment, Food and Rural Affairs has stated that chemtrails are not scientifically recognized phenomena.^[5] The Canadian Leader of the Government in the House of Commons has rejected the idea of chemtrails as being a "popularised expression", adding that "there is no scientific evidence to support their existence."^[6]

The term chemtrail is derived from "chemical trail", in the similar fashion that contrail is a portmanteau of condensation trail. It does not refer to other forms of aerial spraying such as crop dusting, cloud seeding, skywriting, or aerial firefighting.^[7] The term specifically refers to aerial trails allegedly caused by the systematic high-altitude release of chemical substances not found in ordinary contrails, resulting in the appearance of characteristic sky tracks. Supporters of this conspiracy theory speculate that the purpose of the chemical release may be for solar radiation management, population control,^[1] weather control,^[2] or biological warfare/chemical warfare and claim that these trails are causing respiratory illnesses and other health problems.^[8][9]

Contents 1 Overview 2 Contrails vs chemtrails 3 See also 4 References 5 External links

Overview

Multiple persistent contrails

In 1996, a chemtrail conspiracy theory began to circulate when the United States Air Force (USAF) was accused of "spraying the US population with mysterious substances" from aircraft "generating unusual contrail patterns."^[4] The Air Force says these accusations were a hoax fueled in part by citations to a strategy paper drafted within the Air Force's Air University entitled Weather as a Force Multiplier: Owning the Weather in 2025.^[10][11] The paper was presented in response to a military directive to outline a future strategic weather modification system for the purpose of maintaining the United States' military dominance in the year 2025, and identified as "fictional representations of future situations/scenarios."^[11] The Air Force further clarified that the paper "does not reflect current military policy, practice, or capability," and that it is "not conducting any weather modification experiments or programs and has no plans to do so in the future."^[4][12] Additionally, the Air Force states that the "'Chemtrail' hoax has been investigated and refuted by many established and accredited universities, scientific organizations, and major media publications."^[4]

In Britain, when the Secretary of State for Environment, Food and Rural Affairs was asked "what research her Department has undertaken into the polluting effects of chemtrails for aircraft", the response was that "the Department is not researching into chemtrails from aircraft as they are not scientifically recognised phenomena," but that work was being conducted to understand "how [contrails] are formed and what effects they have on the atmosphere."^[5]

In a response to a petition by concerned Canadian citizens regarding "chemicals used in aerial sprayings are adversely affecting the health of Canadians," the Government House Leader responded by stating, "There is no substantiated evidence, scientific or otherwise, to support the allegation that there is high altitude spraying conducted in Canadian airspace. The term 'chemtrails' is a popularised expression, and there is no scientific evidence to support their existence."^{[6][13][14][15]} The house leader goes on to say that "it is our belief that the petitioners are seeing regular airplane condensation trails, or contrails."^[6]

Various versions of the chemtrail conspiracy theory have circulated through internet websites and radio programs.^[1] In some of the accounts, the chemicals are described as barium and aluminum salts, polymer fibers, thorium, or silicon carbide.^[3] In other accounts it is alleged the skies are being seeded with electrically conductive materials as part of a massive electromagnetic superweapons program based around the High Frequency Active Auroral Research Program (HAARP).^[16] Those who believe in the conspiracy say the chemtrails are toxic,^[17] but the reasons given by those who believe in the conspiracy vary widely, spanning from military weapons testing, chemical population control, to global warming mitigation measures.^[2] Scientists and federal agencies have consistently denied that chemtrails exist, insisting the sky tracks are simply persistent contrails.^[3] As the chemtrail conspiracy theory spread, federal officials were flooded with angry calls and letters.^[3] A multi-agency response to dispel the rumors was published in a 2000 fact sheet by the Environmental Protection Agency (EPA), the Federal Aviation Administration (FAA), the National Aeronautics and Space Administration (NASA) and the National Oceanic and Atmospheric Administration (NOAA), a step many chemtrail believers have interpreted as further evidence of the existence of a government cover-up.^[3]

Proponents of the chemtrail conspiracy theory say that chemtrails can be distinguished from contrails by their long duration, asserting that the chemtrails are those trails left by aircraft that persist for as much as a half day or transform into cirrus-like clouds.^[2]

Contrails vs chemtrails

Contrails from propeller-driven aircraft engine exhaust, early 1940s

Contrails, or condensation trails, are "streaks of condensed water vapor created in the air by an airplane or rocket at high altitudes."^[4] These condensation trails are the result of normal emissions of water vapor from piston engines and jet engines at high altitudes in which the water vapor condenses into a visible cloud. Contrails are formed when hot humid air from the engines mixes with the colder surrounding air. The rate at which contrails dissipate is entirely dependent on weather conditions and altitude. If the atmosphere is near saturation, the contrail may exist for some time. Conversely, if the atmosphere is dry, the contrail will dissipate quickly.^[4]

Exhaust gases and emissions

Chemtrails, coming from "chemical trails" in the same fashion that contrail comes from "condensation trail" is a term coined to suggest that contrails are formed by something other than a natural process of engine exhaust hitting the cold air in the atmosphere. Proponents of chemtrails characterize these chemical trails as streams that persist for hours, and by their criss-crossing, grid-like patterns, or parallel stripes which eventually blend to form large clouds. Proponents view the presence of visible color spectra in the streams, unusual concentrations of sky tracks in a single area, or lingering tracks left by unmarked or military airplanes flying in atypical altitudes or locations as markers of chemtrails.^{[1][3][8][18][19][20]}

A news station reported the results of tests on what they called chemtrails. "It seemed like some mornings it was just criss-crossing the whole sky. It was just like a giant checkerboard," said Bill Nichols, who reportedly noticed the "unusual clouds" begin as normal contrails from a jet engine, but unlike normal contrails, he claims, do not fade away. He then noticed "it would drop to the ground in a haze", the material collecting on the ground and in water he had sitting in bowls. KSLA News 12 sampled the water at a lab and initially reported a high level of barium, 6.8 parts per million, more than three times the toxic level set by the EPA. After contacting the Louisiana Department of Environmental Quality, the news station was told that these levels are very unusual, but proving the source "is a whole 'nother matter". KSLA discovered during their investigation that barium is a hallmark of other chemtrail testing.^[21] However the KSLA reporter had misread the reading, which was actually 68 parts per billion, well within expected ranges, and the station retracted the story.^[22] The phenomenon attracted the attention of a Los Angeles network affiliate, which aired a similar investigation called "Toxic Sky?"^[23] Following suit, Phoenix News Reporter Pat McReynolds at CBS KPHO interviewed Geoengineering^[24] investigators and concluded that chemtrails do not exist.

Contrail testing being carried out on an Airbus A340 and much older Boeing 707^[4]

Experts on atmospheric phenomena deny the existence of chemtrails, asserting that the characteristics attributed to them are simply features of contrails responding differently in diverse conditions in terms of the sunlight, temperature, horizontal and vertical wind shear, and humidity levels present at the aircraft's altitude.^{[1][3][4][8][18]} Experts explain that what appears as patterns such as grids formed by contrails result from increased air traffic traveling through the gridlike United States National Airspace System's north-south and east-west oriented flight lanes, and that it is difficult for observers to judge the differences in altitudes between these contrails from the ground.^[4] The jointly published fact sheet produced by NASA, the EPA, the FAA, and NOAA in 2000 in response to alarms over chemtrails details the science of contrail formation, and outlines both the known and potential impacts contrails have on temperature and climate.^[12] The USAF produced a fact sheet as well that described these contrail phenomena as observed and analyzed since at least 1953. It also rebutted chemtrail theories more directly by identifying the theories as a hoax and denying the existence of chemtrails.^[3][4]

Wingtip condensation trails

Patrick Minnis, an atmospheric scientist with NASA's Langley Research Center in Hampton, Virginia, is quoted in USA Today as saying that logic is not exactly a real selling point for most chemtrail proponents: "If you try to pin these people down and refute things, it's, 'Well, you're just part of the conspiracy'," he said.^[1]

In 2001, United States Congressman Dennis Kucinich introduced legislation that would have permanently prohibited the basing of weapons in space, and he listed chemtrails as one of a number of exotic weapons that would be banned.^[25] Proponents have asserted that because explicit reference to chemtrails was entered by Congressman Kucinich into the congressional record, this constitutes official government acknowledgment of their existence.^[18][26] Skeptics note that the bill in question also mentions "extraterrestrial weapons" and "environmental, climate, or tectonic weapons."^[27] The bill received an unfavorable evaluation from the United States Department of Defense and died in committee,^[28] with no mention of chemtrails appearing in the text of any of the three subsequent failed attempts by Kucinich to enact a Space Preservation Act.

See also

This President Was Not Born an American Citizen (Repost)

by Sorcha Faal

In what is surely one of the most amazing reports we have ever read, Russia’s foreign military intelligence directorate (GRU) is reporting to Prime Minister Putin and President Medvedev today that they have confirmed that the most secretive organization in the World has contacted Lord James of Blackheath of the United Kingdom and made an astounding offer to save the Global economy with their vast gold reserves said to be,

“more than has been mined in all of the World’s history”.

(Note: The U.S. Geological Survey estimates that total world gold production, since the beginning of civilization, has been 154,490 metric tons - 4.97 billion troy ounces -Source).

According to this report, “representatives” of the secretive Poor Fellow-Soldiers of Christ and of the Temple of Solomon, otherwise known as the Knights Templar, contacted Lord James this past April in what is believed to be their first overt contact with the World since they were ordered disbanded by Pope Clement V in 1312.

After their disbandment, and the Vatican’s execution of most of its leaders, the Knights Templar, their secrets, and enormous wealth, have been lost in the mists of history with too many legends about them to be recounted in any one writing, with the exception of the evidence showing their having escaped to the New World and establishing the United States of America so they could protect themselves from “organized” religion, especially the Catholic Church.

In one such legend about the Knights Templar we can further read:

“Though this medieval, monastic order gave the appearance of being part of the church and devout Christians.

 

In actual fact, they were anything but that. Yes, they were a monastic order, they’d been approved by the pope, and they were virtually independent of all civil and other church authorities, being responsible through their grand master to the pope and the pope alone.

 

But in actual fact, they’d been founded by a group of families who had a very different and a very heretical view about Christ and his teaching. They had kept that teaching alive in secret for nearly 1,100 years and conspired to set up a counterbalance to church power.”

Further evidence of the Knights Templar having escaped to America include the ancient Kensington Runestone found in Minnesota in 1898 which is linked to the mysterious Newport Tower (below image) in Rhode Island that remains the oldest stone structure in the United States and is said to be one of the oldest Templar Temples outside of Scotland and gives the “claim” to the greater portion of North America.

The Knights Templar’s ascendancy to power in America was accelerated in 1693 with the founding of The College of William & Mary in Virginia under a charter issued by King William III and Queen Mary II and which taught the “ancient secrets” of this order to the vast majority of what are now called the Founding Fathers of the United States, including Thomas Jefferson and 16 of the signers of the Declaration of Independence. 

Queen Mary II (1662-1694) was long believed to an ardent supporter of the Knights Templar (if not an outright member) and ruled as a Protestant after the overthrowing of her Roman Catholic father James II & VII (1633-1701) in the Glorious Revolution of 1688 that granted to all British subjects for the first time in history their revered Bill of Rights, and which barely a century later was, also, given to the American people.

From this “new” beginning for the Knights Templar in the United States, until this present day, this report continues, 14 US Presidents have been directly associated with them as being members of the name their organization goes by in America called the Masons, and includes their first President George Washington.

Content to operate behind the scenes of power in the United States these past nearly two and a half centuries, the Knights Templar’s have, also, been greatly feared, and as evidenced by the 26^th President of the United States, Theodore Roosevelt, stating about them,

“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people”.

And the 28^th President of the United States, Woodrow Wilson further stating,

“Since I entered politics, I have chiefly had men's views confided to me privately. Some of the biggest men in the U.S., in the field of commerce and manufacturing, are afraid of somebody, are afraid of something. They know that there is a power somewhere so organized, so subtle, so watchful, so interlocked, so complete, so pervasive, that they had better not speak above their breath when they speak in condemnation of it.”

This past April, however, the Knights Templar’s centuries long silence came to an abrupt end when one of their “spokesman” Jonathan Stuart Leibowitz(above image) held an extraordinary and secret meeting with US Treasury Secretary Timothy Geithner stating that his order was about to “unleash” their estimated wealth of over $980 Trillion to “save the World from itself”.

Important to note about Jonathan Leibowitz besides his being educated in the Knights Templar College of William & Mary in Virginia, and his brother, Larry Leibowitz (above image), being one of the most important men in America as the Chief Operating Officer of the New York Stock Exchange, is that he was recently named as being the Most Influential Man in the United States under his stage name of Jon Stewart and who hosts a faux news program called The Daily Show.

To what Leibowitz (Stewart) had told the power elite in American during his meeting with US Treasury Secretary Geithner, this report continues, can be glimpsed in the unprecedented speech given on November 1^st to the British House of Lords by Lord James of Blackheath wherein he stated that he had been “approached” by a secret organization he calls “Foundation X” who offered to eliminate the United Kingdom’s entire national debt in a move they said was designed to protect their vast wealth by protecting the entire Global economy.

Lord Blackheath further stated that this mysterious “Foundation X” was prepared to use its vast cash reserves to accomplish this astounding feat they said has since the 1920’s been backed by their own gold reserves worth more than all that has been mined on Earth in all of history.

(Note: The U.S. Geological Survey estimates that total world gold production, since the beginning of civilization, has been 154,490 metric tons - 4.97 billion troy ounces -Source).

In an interview with Sky News this past week Lord Blackheath also stated that his investigation into the mysterious “Foundation X” found all of their claims to be true.

In a surprise move, however, the British government turned down this unprecedented offer to eliminate their National debt with no further comment given.

To the next moves “Foundation X” will take, who this GRU reports states emphatically are the Knights Templar who control America, after being snubbed by a British government growing ever closer to the Roman Catholic Church it is not said.

What can be said though is that the power of the Knights Templar as it reemerges into our World today can not in any way be underestimated as its long history has shown, most especially its ability to overturn everything it needs to in order to protect itself and a human race it has sworn to protect “at all cost!''

JPMorgan Chase Admits Big Losses On 'Egregious' Credit Trades

FOLLOW:

Banks, Video, JPMorgan Chase, Jamie Dimon, Volcker Rule, Banking, Credit Derivatives, Great White Whale, Jpmorgan Chase London Whale, London Whale, Slideexpand, Business News

JPMorgan Chase CEO Jamie Dimon. Turns out there's a problem with the bank's London Whale.

JPMorgan Chase has suffered big, unexpected losses at a closely watched trading desk, providing fodder to supporters of a new financial regulation the bank's CEO has loudly opposed.

The biggest U.S. bank by assets said on Thursday that it had lost $2 billion on bad bets on credit derivatives, made by a London trading desk, run by a man other traders have alternately dubbed "The London Whale" and "Voldemort." The office is intended to hedge the giant bank's credit risk, not increase it.

In a regulatory filing on Thursday, the bank said that, since the end of March, its chief investment office "has had significant mark-to-market losses in its synthetic credit portfolio, and this portfolio has proven to be riskier, more volatile and less effective as an economic hedge than the firm previously believed."

In a quickly scheduled conference call Thursday evening, CEO Jamie Dimon, who has been persistently critical of government efforts to regulate banks, said JPMorgan's trading losses were due to "egregious and self-inflicted mistakes," from trades that were "poorly executed and poorly monitored."

In recent months, news reports had alleged the office's trading desk was engaged in speculative trading, not hedging. Supporters of financial regulation used the reports as evidence of the need for the "Volcker Rule," a feature of the Dodd-Frank financial-reform act that would prohibit government-insured banks from taking big market bets with their own money. Critics of the Volcker Rule countered that banks sometimes need to be able to make big market bets as a way of hedging their risks. JPMorgan's losses suggest, at the very least, that even such a hedging operation can be subject to large, unexpected losses.

In the surprise conference call on Thursday, Dimon acknowledged the trading desk's losses, but said they did not change his opposition to Volcker Rule -- though he admitted they did not help his argument.

"It plays right into the hands of a bunch of pundits out there," said Dimon, who only days ago called criticism of banks a form of discrimination and suggested it was anti-American to criticize business at all. "But that's life."

“It puts egg on our face, and we deserve any criticism we get," he added.

And the bank is already getting plenty of criticism. In an email to the Huffington Post, Dennis Kelleher, president of the financial-reform advocacy group Better Markets, said the bank's admission "shows the need for financial reform, especially a strong Volcker Rule, to limit such risky betting."

"Jamie Dimon and JP Morgan Chase just proved what anyone not getting a paycheck from a Wall Street bank already knows: gigantic too-big-to-fail banks are too-big-to-manage," he added. "They must not be allowed to continue to threaten our financial system and our economy."

"The enormous loss JP Morgan announced today is just the latest evidence that what banks call 'hedges' are often risky bets that so-called 'too big to fail' banks have no business making," Senator Carl Levin (D-Mich.) said in a press release.

Dimon said the bank had lost $2 billion on the bad bets since the end of March, offset by about $1 billion in separate gains, resulting in a net loss of about $1 billion. Such numbers are manageable, relative to the size of the bank's quarterly profit, but far larger than the bank, or most of Wall Street, expected.

JPMorgan Chase's share price tumbled more than 5 percent in extended New York trading, and other stock market futures were dragged down with it.

The London trading desk responsible for the loss was made infamous recently bystories by Bloomberg and the Wall Street Journal that said "The London Whale" had taken such large positions in credit derivatives that it was distorting the market for them.

JPMorgan Chase insisted at the time that the desk was doing nothing more than hedging credit risk for the rest of the firm. It also said it was "very comfortable" with the desk's positions. Dimon, in another conference call less than a month ago, called stories about the desk "a tempest in a teapot."

In the conference call today, Dimon, who has complained frequently about financial regulation, admitted the firm "acted a little too defensively" in response to those stories.

The Securities and Exchange Commission declined to comment on the news.

-- D.M. Levine contributed reporting to this story.

Change on the Inside

Change on the inside

Makes us think it’s real

To something that is more

Than we now believe we Feel

Allowing ourselves to become

The total of the sum

Seeking the inner voice

For wisdom that only comes from choice

What are we when the day is done

but a reflection of the rising sun

We are not this body we call ourselves

We are our brothers and all of our cells

Our mind is but a fragment

Of the creator’s Love

Descending upon us as the

Peace of a dove

What do we perceive

When we open our eyes

Only to begin the trip

Of what we will realize

We all want to experience

The divine relationship of unity

Only in our love

Can we be in serenity

In some ways

We lie to ourselves

To save the days

We leave behind on the shelves

When we are together

With the family within

All doubt is lost

In the wind

Rewind ,go back to your past and reconcile your deeds ( forgive ) so that you can move into a more positive future.MIBII

No one can fail who seeks to to reach the Truth.JC

The world I see holds nothing that I want.

Beyond this world there is a world I want.

It is impossible to see two worlds at the same time. 

I loose the world from all that I thought that it was.

We are all on a journey without distance, to a distant world.JC (ACIM)

Obama Signs Executive Order Declaring International Law for the United States

“We are Preparing for Massive Civil War,” Says DHS Informant

Posted by Dominique de Kevelioc de Bailleul on May 03, 2012 | http://www.beaconequity.com/?p=31055">234 comments

Read more: http://www.beaconequity.com/we-are-preparing-for-massive-civil-war-says-dhs-informant-2012-05-03/#ixzz1tzOqSX7O