Got Food?

Posted on November 16, 2012 by DRenegade

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Israel Re-escalates: Mobilizes 75,000

Posted on November 16, 2012 by DRenegade

pdate: Israel CDS 162/170, +8 bps

Earlier today, air raid sirens went off in Tel Aviv, and even Jerusalem was supposedly in danger of a missile attack: hardly the deescalation Israel was hoping to see. Sure enough, the ball is in Bibi’s court and he wastes not time:

  • NETANYAHU CONVENING MINISTERS TO APPROVE RESERVES CALL-UP; TV
  • ISRAEL PLANNING TO CALL UP 75,000 RESERVISTS, CHANNEL TWO SAYS

Next: flip flops and other various closed-toed shoes on the ground.

Source

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OBAMA BEGINS PUSH TO CONFISCATE IRA’S & 401K’S

Posted on November 16, 2012 by DRenegade

It may be time to take the tax hit and withdraw funds from private retirement accounts before they are forced into long term T-bonds.

The Obama administration is reportedly quickly moving on plans to nationalize private 401k and IRA retirement accounts, and replace them with government sponsored annuities(aka Treasury bonds that the Treasury currently can’t sell to anyone but the Fed).

National Seniors Council Director Robert Crone warns: “This whole issue is moving forward very quickly.  Already there is a bill requiring all businesses to automatically enroll their employees in IRA plans in which part of every employee’s paycheck would be automatically deducted and deposited into this account. If this passes, the government will be just one step away from being able to confiscate all these retirement accounts.“

All your retirement savings are belong to us:

A recent hearing sponsored by the Treasury and Labor Departments marked the beginning of the Obama Administration’s effort to nationalize the nation’s pension system and to eliminate private retirement accounts including IRA’s and 401k plans, NSC is warning.

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h/t Tom R.

Related Article:

Portugal Confiscates Private Pension Funds – Can It Happen in the United States?

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EU Budget Talks Collapse

Posted on November 16, 2012 by DRenegade

France Rejects Compromise; Still Time to Snatch Defeat From Jaws of Victory

I have a bit of good news today. The efforts of European Council president Herman Van Rompuy to mollify the UK and other budget hawks have created such a stir that France rejects EU budget compromise.

Jean-Marc Ayrault, the French prime minister, objected to deep cuts to agriculture spending included in the proposal, but also expressed displeasure with reductions in the development money, known as cohesion funds, that benefit poorer regions.

The biggest object of displeasure appeared to be Mr Van Rompuy’s move to trim €25bn from the common agricultural policy – traditionally France’s biggest priority – compared with a proposal from the European Commission, the EU’s executive arm. Those cuts include a €12bn reduction in direct subsidies to farmers.

Some analysts argue the cull was even more dramatic because agriculture was starting from a low base – historically speaking – in the commission proposal.

Agriculture is not France’s only concern. Cuts to the cohesion budget look set to fall disproportionately on its own regions, which tend to be bastions of support for François Hollande, the socialist president.

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And Obama Went to Bed

Posted on November 16, 2012 by DRenegade
U.S. President Barack Obama makes a statement about the death of Ambassador Chris Stevens with Secretary of State Hillary Clinton in the Rose Garden at the White House on Wednesday in Washington.

The faces of lying traitors

From CNN:

Legislators saw a “real-time film (showing) exactly what happened” on September 11 in Benghazi, starting before the attack began up “through the incident and the exodus,” said Feinstein. A source familiar with the House committee hearing said the video included shots of Stevens being dragged out of the building. Sen. Dan Coats, an Indiana Republican, described the footage as “a combination of video from a surveillance camera and a drone.”

The president left an ambassador to die, abandoned the ambassador’s staff to the enemy and denied any aid as he watched in full time. And then he went to bed. And then he sent his minions out to lie to the American people and the world through the United Nations.

I don’t know who is more culpable: the president who is destroying our nation or the military/CIA watching our people abandoned as they called out for help but turned their backs for political gain or blackmail. The oath to the Constitution is now shown to be worth as much as our collapsing dollar. Domestic enemies are now clearly shown to the people but the question now is what will honorable oath keepers do?

David DeGerolamo

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Anonymous Hacks Greek Finance Ministry, Finds “123456” Is Password For 37% Of All User Accounts

Posted on November 16, 2012 by DRenegade

While we have yet to go through the thousands of files that hacker collective Anonymous has just released as a result of its hack of the Greek Finance Ministry, an exploit it described as follows: “We gained full access to the Greek Ministry of Finance. Those funky IBM servers don’t look so safe now, do they…

We have new guns in our arsenal. A sweet 0day SAP exploit is in our hands and oh boy we’re gonna sploit the hell out of it. Respectz to izl the dog for that perl candy,” what we find even more amusing, if not surprising, is that of the 136 username accounts Anonymous hacked, the password of precisely 50 of them, or some 37% of all workers, is…. 123456 (full list here).

That, together with this archival picture of the inside of the Athens Finance Ministry, explains much more about the current and future state of Greek affairs, than any idiotic Troika/IMF forecast ever could.

As for those curious just what secrets the chaotic finance ministry of the Eurozone’s most insolvent country holds, the downloads are available here and here.

Source

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Best Laser Etching of the Week on an AR-15 Lower

Posted on November 16, 2012 by DRenegade

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FEDERAL “LAND SEIZURE ACT” VOTE SCHEDULED! – GRNC

Posted on November 16, 2012 by DRenegade

Small Gains Don’t Offset Danger of this Bill!

Our friends at Gun Owners of America (GOA) have called attention to progress of a dangerous Federal Act that has potential toundermine private property rights in addition to threatening fishing and hunting opportunities on Federal lands.

Senator Jon Tester (D-MT) — who is “F” rated by GOA – is pushing a “hunting” bill that authorizes the Obama administration almost unlimited power to seize private lands for “environmental” purposes.

Inexplicably, NRA supports this bill. NRA friend and anti-gun Senate Majority Leader Harry Reid has scheduled Tester’s bill for a vote that will probably take place on Thursday.

BACKGROUND Continue reading →
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Labor Unions Sucked the Filling Out of Hostess Brands

Posted on November 16, 2012 by DRenegade

No more Twinkies. Hostess Brands has filed for liquidation due to union demands that bankrupted the company. No Twinkie bailout for you, Hostess. This leaves the taxpayer to pick up the cost of their pensions. I suppose Michelle Obama will be happy but the only consolation we have is that Woody Harrelson will have a hard time in the future zombie apocalypse:

httpv://www.youtube.com/watch?v=M1vYj0E2Hr0

Twinkies, Ding Dongs Maker Hostess Liquidates Following Failure To Resolve Labor Union Animosity

Hostess Brands, the company better known as the maker of Butternut, Ding Dongs, Dolly Madison, Drake’s, Home Pride, Ho Hos, Hostess, Merita, Nature’s Pride, and of course Wonder Bread and Twinkies, and which previously survived one multi-year Chapter 11 bankruptcy process, when it operated as Interstate Bakeries, has just made a splash at the NY Southern Bankruptcy court, for the last time, with a liquidation filing. The reason: insurmountable (and unfundable) difference in the firm’s collective bargaining agreements and pension obligations, which resulted in a crippling strike that basically shut down the company. In other words, Twinkies may well survive the nuclear apocalypse, but there was one weakest link: the company making them, was unable to survive empowered labor unions who thought they had all the negotiating leverage…  until the led their bankrupt employer right off liquidation cliff. Will attention now turn to that another broke government entity, the PBGC, which will have to step in if the firm’s 18,000 workers are to have any chance of preserving all those pensions they thought they had set for life, until they literally liquidated their employer.

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TEXAS HAS BACKUP PLAN FOR KEEPING FEDS AT BAY

Posted on November 16, 2012 by DRenegade

DetentionCamp32

Presumably, a proposal being developed in Texas right now won’t be necessary should its petition on the White House website to secede from the union be successful.

But if not, the Lone Star state apparently wants to be prepared to challenge whatever it views as a federal encroachment on the rights of the state, or its citizens.

So it will be reviewing a legislative plan that not only would make it illegal to cooperate with the federal National Defense Authorization Act in Texas, but could make an offender subject to a year in jail and a $10,000 fine.

The NDAA was signed into law by Barack Obama at the end of 2011, and it includes sections 1021 and 1022, “Which, in essence, create a new power for the federal government to ‘indefinitely detain’ – without due process – any person. Indefinitely. That’s little different than kidnapping,” said a report from the Tenth Amendment Center, which focuses its work on the rights reserved to the states and the people under the federal Constitution.

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1930s medicine pushes Europe back into double-dip recession

Posted on November 16, 2012 by DRenegade
A shopkeeper adjusts a clock with the euro symbol outside the EU Council building ahead of an European Union summit in Brussels

A shopkeeper adjusts a clock with the euro symbol outside the EU Council building ahead of an European Union summit in Brussels. Photo: Reuters

The eurozone has relapsed into double-dip recession as the austerity shock in the Mediterranean region spreads to the core countries of the north.

The Dutch economy shrank by 1.1pc in the third quarter amid a deep housing slump, and even Austria has begun to succumb. Finland’s economy has shrunk by 1pc over the last year.

“Recession comes as no surprise and it is going to get worse next year,” said Desmond Supple from Nomura. “Europe has imposed dusted-off policies from the 1930s and they are driving peripheral countries towards depression,” he said.

“We are seeing a mix of pro-cyclical fiscal austerity, overly-tight monetary policy, and regulatory overkill under the Basel III bank rules that are forcing lenders to tighten credit. Europe is stuck in a bad equilibrium and it is not going to end until there is a change of course.”

Prof Paul de Grauwe from the London School of Economics (LSE) said austerity measures imposed on the Club Med with no offsetting stimulus by the creditors was creating a contractionary bias to the whole system and and leading to a “very dangerous situation”.

France managed to stave off recession by the skin of its teeth, but that is unlikely to last after a blizzard of grim data in recent weeks and an austerity shock of 2pc of GDP coming next year.

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Alex Jones Calls For Second American Revolution!

Posted on November 15, 2012 by DRenegade

httpv://www.youtube.com/watch?v=m-ReWpcNpb4#!

Would you follow this man?

David DeGerolamo

Posted in Civil Unrest, Editorial | Tagged , | 10 Comments

Raising Taxes Will Not Balance the Budget

Posted on November 15, 2012 by DRenegade

httpv://www.youtube.com/watch?v=bvqNVs4ix6E

From YouTube:

Although it may seem counterintuitive, raising taxes on the rich does not actually increase the amount of taxes the government collects. How could this possibly be the case? According to Professor Antony Davies, it is because the many loopholes in federal income taxes, capital gains taxes, and many other taxes, enable people to partially avoid these taxes. Perhaps instead of discussing how to raise tax revenues, we should spend our energy simplifying the tax code. This would make it more difficult for people to avoid taxes and, Davies says, “The less time and money we spend trying to work around a complex tax code, the more time and money we will have available to put to more productive uses.”

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China: No. 1 Cyber Threat – Bill Gertz

Posted on November 15, 2012 by DRenegade

China’s government carried out numerous cyber attacks against United States government and private sector computers this year and has emerged as the most significant threat in cyberspace, according to a congressional commission report made public Wednesday.

“In 2012, Chinese state-sponsored actors continued to exploit government, military, industrial, and nongovernmental computer systems,” the report by the U.S.-China Economic and Security Review Commission said. “Any individual penetration remains difficult to attribute, but security researchers are increasingly able to group exploitations into campaigns based on common features and gain better insight into those responsible.”

The report said Chinese cyber attack capabilities “are improving significantly.”

“Irrespective of sophistication, the volume of exploitation attempts yielded enough successful breaches to make China the most threatening actor in cyberspace,” the report said.

The report identified Chinese military and intelligence organizations as the most sophisticated players in the cyber warfare efforts along with quasi-official cyber militias and other organized cyber attackers such as Chinese state-run information technology and telecommunications firms.

Cyber espionage is carried out mainly by Chinese intelligence organs.

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We Need to Start Organizing for the Next Election Cycle

Posted on November 15, 2012 by DRenegade

The fate of the country is at stake. We need to stop licking our wounds and start organizing for the next election cycle. If you have any doubt about our efforts, please watch the following video for inspiration:

httpv://www.youtube.com/watch?v=GsSXMT0NrB4

Continue reading →

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