The American Ruling Class

[indio007]

Speaking of bankruptcy,
There's going to be a lot of financial pressure on municipal money borrowing i.e. municipal bonds.

Preparing To Asset-strip Local Government? The Fed’s Bizarre New Rules Washington's Blog

In an inscrutable move that has alarmed state treasurers, the Federal Reserve, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, just changed the liquidity requirements for the nation’s largest banks. Municipal bonds, long considered safe liquid investments, have been eliminated from the list of high-quality liquid collateral. assets (HQLA). That means banks that are the largest holders of munis are liable to start dumping them in favor of the Treasuries and corporate bonds that do satisfy the requirement.

....

The Federal regulators adopted a new rule that requires the country’s largest banks – those with $250 billion or more in total assets – to hold an increased level of newly defined “high quality liquid assets” (HQLA) in order to meet a potential run on the bank during a credit crisis. In addition to U.S. Treasury securities and other instruments backed by the full faith and credit of the U.S. government (agency debt), the regulators have included some dubious instruments while shunning others with a higher safety profile.

Bizarrely, the Fed and its regulatory siblings included investment grade corporate bonds, the majority of which do not trade on an exchange, and more stunningly, stocks in the Russell 1000, as meeting the definition of high quality liquid assets, while excluding all municipal bonds – even general obligation municipal bonds from states with a far higher credit standing and safety profile than BBB-rated corporate bonds.

This, rightfully, has state treasurers in an uproar. The five largest Wall Street banks control the majority of deposits in the country. By disqualifying municipal bonds from the category of liquid assets, the biggest banks are likely to trim back their holdings in munis which could raise the cost or limit the ability for states, counties, cities and school districts to issue muni bonds to build schools, roads, bridges and other infrastructure needs. This is a particularly strange position for a Fed that is worried about subpar economic growth.

[dutchdivco]

Interesting,..

and while termed 'bizarre', no particularly surprising. First of all, MANY gov't entities have unfunded/underfunded pension liabilities which, if 'counted' in their bookkeeping, would mean they are insolvent.

Also, as we saw in 2008, when their is a real 'crunch', municipalities take a ral hit, on a of fronts there tax revenues drop, dramatically, even as the demand for services goes up, etc.

Helpful I think to remember that these are all pieces of paper, with NO intrinisic value. The only reason they have value is cause we all agree, collectively, to agree or even pretend they have value.

As in "The Emperor has no clothes", if everyone stops pretending, well,...the "SHTF".

This is kind of a 'vote of no confidence' for municipalities, by the FED, particularly in another crash. And (perhaps) could be seen as a sign the FED is 'girding its loins', in PREPERATION for another crash.

The FED KNOWS its going to reduce/stop QE, and while it keeps trying to reassure everyone 'its going to be fine', there are a lot of dire predictions as to what will happen as it does, and no certainty.

Most likely will be an increase in interest rates, and inflation. Beyond that,...NO one knows, (including the FED), cause nothing like QE has ever been done before, at least not on such a massive scale.

"May you live in INTERESTING times",....Jim

[rickoff]

I first mentioned looming municipal bond defaults 4 years ago in another thread on this forum. Since then, the following municipalities have filed for bankruptcy protection:

Central Falls, RI (Aug 2011)
Boise County, ID (Mar 2011)
Harrisburg, PA (Oct 2011)
Jefferson County, AL (Nov 2011)
Stockton, CA (Jun 2012)
Mammoth Lakes, CA (Jul 2012)
San Bernadino, CA (Aug 2012)
Detroit, MI (Jul 2013)

As you can see, 3 of these cities were in California, and that should not surprise anyone familiar with California's high-on-the-hog borrow and spend mentality. And let's not forget Vallejo, California, which first filed for bankruptcy in 2008, and will probably be heading for the same in the near future. Vallejo is a prime example of why all California cities, and many others across the nation, will find that bankruptcy is inevitable. It's all about pensions for city employees. In return for the support of city employee unions at election time, city council members, mayors, and city managers continued to approve pay and benefits increases of city employees. A YouTube video posted by PBS NewsHour in February of this year illustrates the example of a Vallejo policeman who retired at age 50 with a pension and health benefits package worth more than $9,000 a month, which was 90% of his pay and benefits before retirement. If he lives another 25 years, which would be the current average life expectancy for males, Vallejo will have shelled out 2.7 million to this one retiree alone, but of course that doesn't even take into consideration the increases that will certainly be necessary for cost-of-living adjustments. The description of the above referenced video states that, "A wave of bankruptcies is moving across the country as cities try to manage crushing debt from pension obligations. NewsHour Weekend reports from Vallejo, California with a cautionary tale for cities that are looking to bankruptcy as the solution." As the video points out, filing for bankruptcy will not help to stabilize a city's debt load except in the short run. That's because while cities like Vallejo can cut back on some forms of spending, they are not allowed, under California law, to cut back on pension obligations. Therefore, they are locked in to a downward death spiral which quickens each year as the percentage of city revenues allocated to pay retirement benefits increases at an alarming rate. The 2012 pension payout for Vallejo was 17.4 million, and that increased an additional 4 million in 2013, which amounts to 26% of the city's budget. One doesn't need a Master's degree in finance to understand that this is unsustainable, and that cities and states across this nation are existing on borrowed time.

[rickoff]

Well, September 11th came and went without any major "terrorist" event taking place. There was the usual media fear-mongering beforehand, of course, to suggest it was quite likely that an extremist group such as ISIS might well be planning a biological, dirty-bomb, or EMP attack for September 11th. When it didn't materialize, the public would then feel thankful that our "government" has successfully continued to protect us from such threats since the events of 9-11-2001.

Is it simply coincidence that the alleged ISIS beheadings of James Foley and Steven Sotloff became mainstream media's biggest stories just shortly before the 13th anniversary of 9-11? And what is really behind these stories? While the corporation US "government" is assuring us that the videos are genuine, there's good reason to wonder what they genuinely represent. And now there is a third video claiming to show the beheading of David Haines, a British subject. The calm demeanor of all 3 of the alleged victims, and their recitation of harsh statements against their governments when they acknowledge they know they are about to be executed, just doesn't make any sense. It just doesn't lend any credibility to the videos being anything but staged, genuine fakes. The reason for creating these, of course, would be to cause outrage among Americans, and to instigate a public demand for vengeance. In the Foley and Sotloff videos, the "executioner," a man with a British accent who is fully covered except for his eyes, makes anti-America and anti-Obama statements. The purpose of these statements are to create further outrage among the American public, and to make us want to support Barry's call for $5 billion in funding to carry out a war on ISIS.

This whole thing sure does reek of being a false flag event, and just another problem-reaction-solution ploy such as those which have been used so many times in the past to further the NWO Ruling Class agenda. Having claimed to have killed BinLaden (who was already dead) and to have struck a serious blow to the CIA created al-Qaeda network, our "government" began looking for a new Islamic jihadist foe. The scarier the better, of course, so ISIS/aka ISIL is promoted as being so barbaric that even al-Qaeda disavows and deplores their tactics. The worse that ISIS is made out to be, the easier it is for our "government" to convince the public that we are in for a long, and of course very costly, battle against this "well trained, well-equipped, and extremely ruthless terrorist group" which is hell bent on our destruction. The $5 billion that Barry wants in order to get things rolling (and for which no mention has been made as to how this would actually be spent) would of course be only the first of many similar requests, since a "war on terror" is obviously an endless game which can never be won, and which can only serve to further enrich the coffers of the Ruling Class banksters and their military industrial complex while draining what little wealth and reserves the American People have left.

[TheoriaApophasis]

This whole thing sure does reek of being a false flag event, and just another problem-reaction-solution ploy such as those which have been used so many times in the past to further the NWO Ruling Class agenda. Having claimed to have killed BinLaden (who was already dead)

speculative subjective conjecture without substantiation ,,,,,any proof? NOPE

and to have struck a serious blow to the CIA created al-Qaeda network

speculative subjective conjecture without substantiation, ,,,,,any proof? NOPE

, our "government" began looking for a new Islamic jihadist foe.

speculative subjective conjecture without substantiation, just because you're not "looking for war" DOES NOT MEAN war isnt looking for YOU.

The scarier the better, of course, so ISIS/aka ISIL is promoted as being so barbaric that even al-Qaeda disavows and deplores their tactics. The worse that ISIS is made out to be, the easier it is for our "government" to convince the public that we are in for a long, and of course very costly, battle against this "well trained, well-equipped, and extremely ruthless terrorist group" which is hell bent on our destruction.

In your OBVIOUS IGNORANCE , you forget that a pile of AK47 and insane rabid lunatics is more dangerous in actuality and practice than a NUKE collecting dust.

speculative subjective conjecture without substantiation, your position is untenable


Extremist fallacies and 100% unfiltered nonsense

This whole thing sure does reek of being a false flag event,

Thats like saying a firecracker that didnt go off when you expected it to makes the firecracker 'harmless'

since a "war on terror" is obviously an endless game which can never be won,.

Thats as ignorant as saying "since I cannot kill all the roaches on Earth, theres no need to worry about killing the ones swarming my kitchen and pooping on my food"



Suggest a course in LOGIC for you



You conclusions are rubbish, speculative subjective conjecture without substantiation. Purely hyperbolic and ABSURD

[Dave45]

9/11 Firefighter Blows WTC 7 Cover-Up Wide Open [Video]

[indio007]

any proof?

there is plenty of proof of false flags i.e. confessions and official documentation

there is plenty of proof al-queda was created by the cia i.e. confessions and documentation

even the term "conspiracy theory" has been altered and changed to a pejorative by the cia.

ya i have proof.

It’s CIA memo# 1035-960, “Countering Criticism of the Warren Report"

[rickoff]

9/11 Firefighter Blows WTC 7 Cover-Up Wide Open [Video]

Excellent video, Dave. NYC firefighter Rudy Dent has been talking openly about this for some time now, and is featured in several 9/11 Truth videos, quite notably the 58 minute 9/11 Free Fall video. On the day of the 9/11/2001 WTC events, several NYC firefighters were interviewed in videos in which they were quick to point out that they had heard multiple explosions, and said this was exactly like a "controlled demolition." After that, a gag order was put on the firemen and none would talk about it any more. It's good to see that men like Rudy Dent are now willing to step up and tell the truth.

[rickoff]

@ TheoriaApophasis:

If you would care to engage in a polite exchange then you are welcome to post in this thread and to question what others have posted, but personal attacks such as you made in stating, "Tin foil hat conspiracy," "In your pathetic ignorance," and "wise the hell up," are forbidden in any post made on Energetic Forum. Those who violate this rule are subject to removal and being banned from further participation at Energetic Forum. I am offering you the opportunity to avoid that outcome by simply deleting your offensive post #5405, and upon seeing that has been done I will likewise delete this warning. You may then politely ask any question you may have concerning anything I have posted here, and I will be glad to respond with answers. I have no problem at all in explaining to others the conclusions which I have reached, as they are based upon extensive research and evidence. Just remember that while you may not agree with the conclusions that I have reached, there is no room to challenge those conclusions unless you yourself can offer sound contrary evidence which shows why these conclusions are unfounded. Blanket statements such as, "twaddle," "rubbish," and "nonsense," offer nothing to support your position, and should therefore be left out of any exchange of words between us. Instead of proceeding in that manner, just step up to the plate and show us what you have to offer that would advance and expand our knowledge and understanding of the topic being discussed. Expecting that you will accept my offer and comply with this request, I now say thank you in advance.

Rick

[aljhoa]

Psychiatrists now say non-conformity is a mental illness:
only the sheeple are 'sane'

Friday, April 25, 2014 by: Jonathan Benson, staff writer

Modern psychiatry ...seeks to demonize and declare mentally ill anyone who deviates from what is regarded as the norm. This is abundantly evident in the latest installment of the industry's Diagnostic and Statistical Manual of Mental Disorders, or DSM, which dubs people who do not conform to what those in charge declare to be normal as mentally insane.

The so-called "condition" for why a person might choose to resist conformity has been labeled by the psychiatric profession as "oppositional defiant disorder," or ODD. The new DSM defines this made-up disease as an "ongoing pattern of disobedient, hostile and defiant behavior," and also lumps it in alongside attention deficit hyperactivity disorder, or ADHD, another made-up condition whose creator, Dr. Leon Eisenberg...

Characterizing non-conformity as 'mental illness' a hallmark of totalitarian government

Such outlandish abuse of the medical system for controlling popular thought is nothing new. Many authoritarian governments, including the former USSR, implemented similar mental health programs that categorized dissenters as having chemical imbalances in need of a remedy. Today, that remedy is often mind-altering, psychotropic drugs with devastating side effects.


Psychiatrists now say non-conformity is a mental illness: only the sheeple are 'sane' - NaturalNews.com


Al

[TheoriaApophasis]

Blanket statements such as, "twaddle," "rubbish," and "nonsense," offer nothing to support your position
Rick

Your senseless statements have NO SUPPORT themselves, but that is myopia on your part.



I "corrected" the post above to reflect your sensibilities of you being called out on your speculative subjective conjecture without substantiation

, and should therefore be left out of any exchange of words between us. Instead of proceeding in that manner, just step up to the plate and show us what you have to offer
Rick

You have nothing whatsoever to offer but speculative subjective conjecture without substantiation

[TheoriaApophasis]

there is plenty of proof al-queda was created by the cia i.e. confessions and documentation

I see i accidentally wandered into the conspiracy and 'alien probe' / "Manchurian candidate" thread of hyperbolic pseudo-intellectualism.

You may then politely ask any question you may have concerning anything I have posted here,

Rick

Your conclusions are absurd and conspiracy based hyperbolic nonsense
The fact that you are hypersensitive to being called out for your radical fringe machinations is FULL PROOF OF SAME


You have nothing intelligent to offer on the topic, .....as such to seek an "answer from you about same" would be , on my part, purely irrational and insane.

But, you are certainly not alone in your irrational convictions that have no basis in reality. Perhaps those with your 'leanings' will assimilate your personal hyperbolic conjectures

[indio007]

I see i accidentally wandered into the conspiracy and 'alien probe' / "Manchurian candidate" thread of hyperbolic pseudo-intellectualism.

al-queda means to base but it actually abbreviated from database.
it was abbreviated because it was too long to say in Arabic so the database was nicknamed.

it is not a group. it was a database of weapons smugglers financiers and mercenaries created by CIA , administered by Turkish intelligence services and accessible by certain countries intelligence services.

maybe you should stick to something you know about because you know jack **** about Al-queda.

people like you crack me up because of your intellectual dishonesty.

you believe current accepted physics about electricity and magnetism is one big lie but don't believe deep state politics is one too.

[TheoriaApophasis]

Psychiatrists now say non-conformity is a mental illness:
only the sheeple are 'sane'

Al

The ONLY thing I can agree with Scientology on is that Psychology ITSELF is an insane pseudo-science.


99% of the great minds are "insane" relative to the SHEEPLE

[dutchdivco]

Hey, all

If I found, or realised, I had 'wandered in' to a room of what I deemed to be 'nuts',....well I would just quietly (so as not to 'disturb' them) WANDER on out, again!
The LAST thing I would dowould be to engage them, particularly in an argumetative or insulting manner! But Hey, thats me.

Rick, to follow up on earlier conversation, regarding municiple budgets and pension plans; as you say, you posted on this 4 years ago, I SAW the original PBS story on this, its 'nothing new'.

Further, its just one of any # of 'landmines' for the economy, or perhaps 'timebombs', waiting to go off, and capable of trashing the economy.

Its really only a ? of which one, or combination of these will trigger first.

As you have also posted about, at length, the lack of backing of the dollar, with anything of substance has enabled the FED to print $, etc.

What has also enabled this is the $ being used as 'the worlds reserve currency'.
At 1 time the British pound was the worlds reserve currency, and then the 'role' transitioned to the U.S. dollar, (and treasury notes).

The 'world' has awoken to the fallacy of this, and is transitioning AWAY from it; and THAT will have far reaching consequences for 'us'. These 'timebombs' are just SITTING there,.....ticking away.Jim