Archive for April, 2013

The Penalty For Stalling An Aircraft on Takeoff — Death — Video

Posted on April 30, 2013. Filed under: Airplanes, Blogroll, Communications, Diasters, Links, Literacy, media, Transportation, Video, Weather, Wisdom | Tags: , , |

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Bagram airfield crash 29 apr 2013

Bagram airfield crash 29 apr 2013
A civilian cargo plane crash at Bagram Air Field north of Kabul in Afghanistan has killed seven people.

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Secretary Lew Opposes Proposed Congress’ New Law That Prioritizes Payments of Treasury Securities — Videos

Posted on April 30, 2013. Filed under: American History, Blogroll, Business, College, Communications, Economics, Education, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Inflation, Investments, Law, liberty, Life, Links, media, People, Philosophy, Politics, Rants, Raves, Tax Policy, Taxes, Video, Water, Wisdom | Tags: , |

Rep. Yoder questions Treasury Sec. Lew

Treasury Chief Warns of New World If US Defaults on Any Bills

The United States might run into trouble accessing debt markets if it defaulted on any of its financial obligations, even if it were able to keep up payments on government bonds, Treasury Secretary Jack Lew told Congress.

Lew was responding to questions about a bill in the U.S. House of Representatives that would prioritize payments on government bonds and Social Security if the United States hits its debt limit, in order to avoid a credit default.

If passed, the law would make it easier for Republicans to use a fight over the nation’s legal borrowing limit, known as the debt ceiling, to try to extract spending cuts from President Barack Obama.

“The thing I would urge you to consider is, you enter a world we’ve never been in once the United States is not meeting its obligations,” Lew told a House subcommittee. “We cannot assume markets will function in an orderly way if that (happens).”

The current suspension of the debt limit expires on May 19, although the Treasury can use emergency cash-management measures to push off the day of reckoning into August. The date could fall even further in the future given unexpectedly strong tax revenues and the possibility of a big payment to the Treasury from housing finance giants Fannie Mae and Freddie Mac.

Lew has said it is impossible to try to pinpoint when exactly the use of these emergency maneuvers would be exhausted due to a delayed tax filing season and uncertainty about the effect of steep government spending cuts known as the sequester.

Once the United States reaches its debt limit, the government faces the prospect of defaulting on financial obligations, and potentially its debt, which could shake up markets and damage the economy.

Staff at the International Monetary Fund warned that failure to smoothly raise the U.S. debt ceiling could do serious damage to the global economy.

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Stephen Coughlin — Islamic law, terrorism and the jihadist movement around the globe — Videos

Posted on April 29, 2013. Filed under: American History, Blogroll, Books, College, Communications, Diasters, Economics, Education, Federal Government, Foreign Policy, government spending, history, Immigration, Language, Law, liberty, Life, Links, Literacy, media, People, Philosophy, Politics, Raves, Regulations, Religion, Security, Strategy, Terrorism, Video, War, Weapons, Wisdom | Tags: , , , |

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Over more than a decade following 9/11, MAJ Stephen Coughlin was one of the US government’s most astute and objective analysts, and an expert in the connections between Islamic law, terrorism and the jihadist movement around the globe.

Through knowledge of published Islamic law, MAJ Coughlin had an demonstrated ability to forecast events both in the Middle East and domestically and to accurately assess the future threat posture of jihadist entities before they happen.

He has briefed at the Pentagon, for national and state law enforcement and intelligence agencies, and on Capitol Hill for Members of Congress. Today, he is a Senior Fellow at the Center for Security Policy. His book, Catastrophic Failure, will be released in late 2012.

With this series of presentations, the general public has access to a professional standard of intelligence training in order to better understand the jihadist threat.

PARTS OF THIS SERIES:

(1) Lectures on National Security & Counterterror Analysis (Introduction)
(2) Understanding the War on Terror Through Islamic Law
(3) Abrogation and the ‘Milestones’ Process
(4) The Muslim Brotherhood, the Arab Spring & the ‘Milestones’ Process
(5) The Role of the Organization of Islamic Cooperation in Enforcing Islamic Law

Stephen Coughlin, Part 1: Lectures on National Security & Counterterror Analysis (Introduction)

Stephen Coughlin, Part 2: Understanding the War on Terror Through Islamic Law

Stephen Coughlin, Part 3: Abrogation & the ‘Milestones’ Process

Stephen Coughlin, Part 4: Muslim Brotherhood, Arab Spring & the ‘Milestones’ Process

Stephen Coughlin, Part 5: The Role of the OIC in Enforcing Islamic Law

Benghazi: US Foreign Policy and the Influence of Shariah Doctrine

Steven Coughlin Remarks on the Benghazi Embassy Cover Up

Related Posts On Pronk Palisades

Sabotaged America–Videos

Andrew C. McCarthy–America’s War on Terror…or is It?–Videos

Stealth Jihad–Terror From Within–Videos

Steve Emerson–American Jihad: The Terrorist Living Among Us–Videos

Robert Spencer–Stealth Jihad–Videos

Robert Spencer–The Truth About Muhammad–Videos

Terrorists Among Us: Jihad in America–Videos

Obsession: Radical Islams War Against the West–Videos

An Affront and Threat To The American People–The Ground Zero Mosque–Remembering 9/11 and The Unknown Falling Man

Just Because You Can Build A Mosque At Ground Zero Does Not Mean You Should: The Two Faces of President Obama–Let Me Be Clear–I Am An Agent Provocateur!

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Radical Islamic Jihadist Terrorists — Democrats in Denial — Americans Buying Ammunitions and Guns — Videos

Posted on April 29, 2013. Filed under: American History, Babies, Blogroll, Books, College, Communications, Computers, Constitution, Crime, Cult, Culture, Diasters, Education, Employment, European History, Federal Government, Food, Foreign Policy, government spending, history, Law, liberty, Life, Links, media, People, Philosophy, Politics, Psychology, Public Sector, Rants, Security, Strategy, Talk Radio, Taxes, Technology, Terrorism, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , |

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radical-islam-threat

Are there radical Islamic terror camps in North America? Apparently there are dozens author says

Radical Jihadists Training On U.S. Soil – Behind Enemy Lines – Wake Up America!!!

Glenn Beck – The Project Part 1

Glenn Beck – The Project Part 2

The Third Jihad – Radical Islam’s Vision for America

Beslan: 5 years on

Dispatches – Beslan (2006)

The school siege at Beslan was the bloodiest act of terrorism ever to take place on Russian soil. Yet beyond this horrible truth remain many unanswered questions. There is no agreement on who the terrorists were. How many they numbered? Where they came from? How they got to Beslan? What they wanted? Whether they were all killed or captured? And just how the siege which began on September 1 2004, ended so catastrophically?

This Dispatches special uses testimony from eyewitnesses, survivors and security services. This is combined with video and audio archive footage presents the fullest account of what happened at Beslan.

The film examines the background to the events of Beslan. It also looks at the Russian state’s reaction to the atrocity and the motivation of the hostage-takers. Beslan School Siege also documents how a small town is coming to terms with the loss of its children.

Jihad: Slaughter of the Innocents – Beslan (Беслан) Part 1

Jihad: Slaughter of the Innocents – Beslan (Беслан) Part 2

Jihad: Slaughter of the Innocents – Beslan (Беслан) Part 3

Jihad: Slaughter of the Innocents – Beslan (Беслан) Part 4

Jihad: Slaughter of the Innocents – Beslan (Беслан) Part 5

Glenn Beck U.S. Denial of Islamic Jihad Threat, Beslan School Massacre 4-26-13

Glenn Beck The Story of Beslan

Glenn Beck Beslan, Terror, and Chechnya

Glenn Beck Experts on Beslan

Background Articles and Videos

Terrorism & Jihad: An Islamic Perspective – Dr. Zakir Naik

Stephen Coughlin, Part 1: Lectures on National Security & Counterterror Analysis (Introduction)

Stephen Coughlin, Part 2: Understanding the War on Terror Through Islamic Law

Stephen Coughlin, Part 3: Abrogation & the ‘Milestones’ Process

Stephen Coughlin, Part 4: Muslim Brotherhood, Arab Spring & the ‘Milestones’ Process

Stephen Coughlin, Part 5: The Role of the OIC in Enforcing Islamic Law

Related Posts On Pronk Palisades

Andrew McCarthy–The Grand Jihad: How Islam and the Left Sabotaged America–Videos

Andrew C. McCarthy–America’s War on Terror…or is It?–Videos

Stealth Jihad–Terror From Within–Videos

Steve Emerson–American Jihad: The Terrorist Living Among Us–Videos

Robert Spencer–Stealth Jihad–Videos

Robert Spencer–The Truth About Muhammad–Videos

Terrorists Among Us: Jihad in America–Videos

Obsession: Radical Islams War Against the West–Videos

An Affront and Threat To The American People–The Ground Zero Mosque–Remembering 9/11 and The Unknown Falling Man

Just Because You Can Build A Mosque At Ground Zero Does Not Mean You Should: The Two Faces of President Obama–Let Me Be Clear–I Am An Agent Provocateur!

Understanding Jihad–Videos

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Paul Kengor — The Communist — Frank Marshall Davis: The Untold Story of Barack Obama’s Mentor — Videos

Posted on April 29, 2013. Filed under: American History, Blogroll, Books, College, Communications, Constitution, Crime, Economics, Education, Employment, Federal Government, Federal Government Budget, Foreign Policy, government spending, history, Inflation, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, People, Philosophy, Politics, Psychology, Rants, Raves, Tax Policy, Unemployment, Video, Wealth | Tags: , , , , , , , , , , , , , , , |

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Paul Kengor & Glenn Beck “The Communist” on GBTV Frank Marshall Davis Barack Obama’s Mentor

WATCH The Communist author Paul Kengor w/ Glenn Beck on the Radio Frank Marshall Davis Obama Mentor

Paul Kengor (1 of 3)

Paul Kengor (2 of 3)

Paul Kengor (3 of 3)

Paul Kengor on Frank Marshall Davis

Frank Marshall Davis Interview

Who is the REAL Barack Obama?

Is Barack Obama a communist?

“If I wanted America to fail”

Background Articles and Videos

Frank Marshall Davis – Rice & Roses Documentary (part 1/3)

Frank Marshall Davis – Rice & Roses Documentary (part 2/3)

Frank Marshall Davis – Rice & Roses Documentary (part 3/3)

Obama’s Real Father is Communist Frank Marshall Davis?

Michael Savage on Obama’s REAL Father; Dreams From My Real Father DVD; Savage Nation

Glenn Beck – Presidential Lies “Do You Know Anybody Like Barack Obama?”

Barack Obama 1995 Interview on Dreams From My Father Part 1

Barack Obama 1995 Interview on Dreams of My Father Part 2

Related Posts On Pronk Palisades

Obama’s Communist Stalinist Mentor, Frank Marshall Davis, Critical of President Harry Truman and Marshall Plan–Followed U.S.S.R’s Communist Party Line!

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The Coming U.S. Stock and Bond Market Crash of 2013-2014 — The Stock and Bond Big Bubble Burst — Central Banks Buying Gold! — Videos

Posted on April 27, 2013. Filed under: American History, Banking, Blogroll, Books, Business, College, Communications, Computers, Constitution, Crime, Demographics, Diasters, Economics, Education, Employment, Energy, European History, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, Health Care, history, History of Economic Thought, Immigration, Inflation, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Radio, Rants, Raves, Regulations, Resources, Security, Strategy, Talk Radio, Tax Policy, Taxes, Technology, Television, Transportation, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

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BREAKING 2013 Economic Collapse Peter Schiff

Overdose: The Next Financial Crisis

David Stockman: We’re in a Monetary Fantasy Land

Ben Bernanke Is The Most Dangerous Man In US History

US BOND BUBBLE’S READY TO BURST!

Max Keiser: Propped Up Bond Market Set To Burst In April

U.S. Government Bond Bubble to Burst, Faber Says 

James Grant and James Turk discuss gold, the Fed and the fiscal situation of the USA

USA Will Die – Economic Collapse 2013 – Jim Rogers

JIM ROGERS – 2013 to Be Bad, ‘God Knows What Will Happen in 2014’

Jim Rogers Predicts Global Depression In 2013-2014

Peter Schiff on Max Keiser – Stopping the Global Financial Crisis

Keiser Report: Psyops & Debt Diets

Max Keiser: Will the next crash be on Bonds?

MAX KEISER: Colossal Collapse Coming! Keiser Report

MAX KEISER: Colossal Collapse Coming! Keiser Report

ALEX JONES & Max Keiser 2013, Year of The GREAT CRASH!

Peter Schiff – Dollar Could Collapse This Fall 2013

Peter Schiff – Economic Collapse 2013

Fed Will Keep Printing Until The Dollar Collapses~ Jim Rickards

Jim Rickards  Gold is Money ($7,000 Gold Price)

James Rickards Predicts US Inflation in 2013 due to the Devaluation of the US dollar

Currency Wars: Jim Rickards

Financial Pearl Harbor’ is a Real Threat Warns a Pentagon Adviser

CNBC Global Recession Is Coming – Marc Faber

Dr. Marc Faber – US is in 50-100 trillion worth of debt!

Marc Faber ‘We Are in the End Game’ Part 1

Marc Faber  ‘We Are in the End Game Part 2

Marc Faber – We Could See a 1987-Like Market Crash – Be Prepared and Get OUT!

Marc Faber-No Government Complies With Anything

Total Economic Collapse, Death of the Dollar, Impovershment, WWIII, Marc Faber Interview

Gerald Celente Deal Or No Debt Deal, The Debt Still Exists

Bill Gross: Economy Faces Structural Headwinds, “I Think We Are Facing Bubbles Almost Everywhere”

ECONOMIC CRASH WORLDWIDE STARTING

Harry Dent predicts global economic crash in 2013

Planned Economic Collapse 2013-2014

Background Articles and Videos

Meltdown (pt 1-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 2-4) The Secret History of the Global Financial Collapse 2010

Meltdown (pt 3-4) The Secret History of the Global Financial Collapse.2010 

Meltdown – pt 4-4 The Secret History of the Global Financial Collapse (2010) 

The Fall of Lehman Brothers

Goldman Sachs: Power and Peril – Documentary

The Ascent of Money: A Financial History of The World by Niall Ferguson Epsd. 1-5 (Full Documentary)

The Fall of the Dollar – The Death of a Fiat Currency part 1

The Fall of the Dollar – The Death of a Fiat Currency part 2

The First 12 Hours of a US Dollar Collapse

LIFE HIDDEN TRUTH 2013 GLOBAL FINANCIAL CRISIS

 

Billionaires Dumping Stocks, Economist Knows Why

 

Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.

Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.

In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.

With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.

Unfortunately Buffett isn’t alone.

Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.

Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.

So why are these billionaires dumping their shares of U.S. companies?

After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.

It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.

One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.

Editor’s Note: Wiedemer Gives Proof for His Dire Predictions in This Shocking Interview.

Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.

In 2006, Wiedemer and a team of economists accurately predicted the collapse of the U.S. housing market, equity markets, and consumer spending that almost sank the United States. They published their research in the book America’s Bubble Economy.

The book quickly grabbed headlines for its accuracy in predicting what many thought would never happen, and quickly established Wiedemer as a trusted voice.

A columnist at Dow Jones said the book was “one of those rare finds that not only predicted the subprime credit meltdown well in advance, it offered Main Street investors a winning strategy that helped avoid the forty percent losses that followed . . .”

The chief investment strategist at Standard & Poor’s said that Wiedemer’s track record “demands our attention.”

And finally, the former CFO of Goldman Sachs said Wiedemer’s “prescience in (his) first book lends credence to the new warnings. This book deserves our attention.”

In the interview for his latest blockbuster Aftershock, Wiedemer says the 90% drop in the stock market is “a worst-case scenario,” and the host quickly challenged this claim.

Wiedemer calmly laid out a clear explanation of why a large drop of some sort is a virtual certainty.

It starts with the reckless strategy of the Federal Reserve to print a massive amount of money out of thin air in an attempt to stimulate the economy.

“These funds haven’t made it into the markets and the economy yet. But it is a mathematical certainty that once the dam breaks, and this money passes through the reserves and hits the markets, inflation will surge,” said Wiedemer.

“Once you hit 10% inflation, 10-year Treasury bonds lose about half their value. And by 20%, any value is all but gone. Interest rates will increase dramatically at this point, and that will cause real estate values to collapse. And the stock market will collapse as a consequence of these other problems.”

Read Latest Breaking News from Newsmax.com http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola#ixzz2RhO2R5ey
Urgent: Should Obamacare Be Repealed? Vote Here Now!

http://www.moneynews.com/MKTNews/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=110D8-1&utm_source=taboola

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2.5% First Quarter 2013 Real Annual Growth in Gross Domestic Product (GDP) — Stagflation — Government GDP Calculation of Investment To Include Intangibles R&D — Videos

Posted on April 26, 2013. Filed under: American History, Blogroll, Business, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, People, Philosophy, Politics, Raves, Talk Radio, Tax Policy, Taxes, Technology, Unions, Video, War, Wisdom | Tags: , , , , , , , |

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Ken Langone: Regulation Biggest Issue Hurting U.S. Economy

April 26 (Bloomberg) — Ken Langone, founder & CEO at Invemed Associates, talks with Bloomberg’s Erik Schatzker and Sara Eisen about first-quarter U.S. GDP, the impact of regulations and the anti-business stance of the Obama Administration. He speaks on Bloomberg Television’s “Market Makers.”

Peter Schiff We re in Depression, Dollar Crisis Coming

[

GDP Propaganda Exposed

Data shift to lift US economy 3%

By Robin Harding in Washington

The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film royalties and spending on research and development.

Billions of dollars of intangible assets will enter the gross domestic product of the world’s largest economy in a revision aimed at capturing the changing nature of US output.

Brent Moulton, who manages the national accounts at the Bureau of Economic Analysis, told the Financial Times that the update was the biggest since computer software was added to the accounts in 1999.

“We are carrying these major changes all the way back in time – which for us means to 1929 – so we are essentially rewriting economic history,” said Mr Moulton.

The changes will affect everything from the measured GDP of different US states to the stability of the inflation measure targeted by the Federal Reserve. They will force economists to revisit policy debates about everything from corporate profits to the causes of economic growth.

The revision, equivalent to adding a country as big as Belgium to the estimated size of the world economy, will make the US one of the first adopters of a new international standard for GDP accounting.

“We’re capitalising research and development and also this category referred to as entertainment, literary and artistic originals, which would be things like motion picture originals, long-lasting television programmes, books and sound recordings,” said Mr Moulton.

At present, R&D counts as a cost of doing business, so the final output of Apple iPads is included in GDP but the research done to create them is not. R&D will now count as an investment, adding a bit more than 2 per cent to the measured size of the economy.

GDP will soar in small states that host a lot of military R&D, but barely change in others, widening measured income gaps across the US. R&D is expected to boost the GDP of New Mexico by 10 per cent and Maryland by 6 per cent while Louisiana will see an increase of just 0.6 per cent.

Creative works are expected to add a further 0.5 per cent to the overall size of the US economy. Around one-third of that will come from movies, one-third from TV programmes, and one-third from books, music and theatre.

Deficits in defined benefit pension schemes will also be included because what companies have promised to pay out will be measured, rather than the cash they pay into plans.

“We will now show a liability for underfunded plans, which particularly has large ramifications for the government sector, where both at the state level and the federal level we have large underfunded plans,” said Mr Moulton.

The changes are in addition to a comprehensive revision of the national accounts that takes place every five years based on an economic census of nearly 4m US businesses.

Steve Landefeld, BEA director, said it was hard to predict the overall outcome given the mixture of new methodology and data updates. “What’s going to happen when you mix it with the new source data from the economic census . . . I don’t know,” he said.

But he said the revisions were unlikely to alter the picture of what has happened to the economy in recent years. “I wouldn’t be looking for large changes in trends or cycles.”

http://www.ft.com/cms/s/0/52d23fa6-aa98-11e2-bc0d-00144feabdc0.html#axzz2Rb5G6QBg

US GDP Will Be Revised Higher By $500 Billion Following Addition Of “Intangibles” To Economy

Submitted by Tyler Durden

Those who have been following the US debt to GDP ratio now that the US officially does not have a debt ceiling indefinitely, may have had the occasional panic attack seeing how this country’s leverage ratio is rapidly approaching that of a Troika case study of a PIIG in complete failure. And at 107% debt/GDP no explanations are necessary. Luckily, the official gatekeepers of America’s economic growth (with decimal point precision), the Bureau of Economic Analysis have a plan on how to make the US economy, which is now growing at an abysmal 1.5% annualized pace, or about 5 times slower than US debt growing at 7.5% annually, catch up: magically make up a number out of thin air, and add it to the total. And it literally is out of thin air: according to the FT the addition will constitute of a one-time addition of intangibles, amounting to 3% of total US GDP, or more than the size of Belgium at $500 billion, to the US economy.

From FT:

The US economy will officially become 3 per cent bigger in July as part of a shake-up that will see government statistics take into account 21st century components such as film royalties and spending on research and development.

Billions of dollars of intangible assets will enter the gross domestic product of the world’s largest economy in a revision aimed at capturing the changing nature of US output.

Brent Moulton, who manages the national accounts at the Bureau of Economic Analysis, told the Financial Times that the update was the biggest since computer software was added to the accounts in 1999.

“We are carrying these major changes all the way back in time – which for us means to 1929 – so we are essentially rewriting economic history,” said Mr Moulton.

What exactly will constitute GDP growth going forward? In a word, intangibles: films, books, magazines and iTunes songs.

“We’re capitalising research and development and also this category referred to as entertainment, literary and artistic originals, which would be things like motion picture originals, long-lasting television programmes, books and sound recordings,” said Mr Moulton.

At present, R&D counts as a cost of doing business, so the final output of Apple iPads is included in GDP but the research done to create them is not. R&D will now count as an investment, adding a bit more than 2 per cent to the measured size of the economy.

Nothing like adding intangibles in the fluid, ever-changing definition of what constitutes an economy.

Naturally, the only reason for this artificial “boost” to the US economy which apparently can be any old arbitrary number agreed upon by a few accountants, and which always goes up post revision, never down, is to make US debt/GDP under 100% once again, if only very briefly. Surely a few months later something else can be “added” to GDP making the US economy appear better than it is once more.

Finally, all of the above is a distraction for idiots.

As most people should know by know (this logically excludes economists), the only factor leading to economic “growth” is the expansion of liabilities of the financial system, whereby new credit (in a healthy environment, not one centrally-planned by several Princeton real-world rejects, where the central bank is forced to create all credit expansion with money that never leaves the banks and the capital markets closed loop) creates new money, creates demand for products and services, and circulates in the economy.

This can be seen in the chart below which shows the nearly perfect correlation between total bank liabilities in the US, as per the Fed’s Flow Of Funds report, and total US GDP.

Bottom line: the BEA can capitalize air consumption if it thinks it will make US GDP soar, but unless new credit and bank liabilities are created not due to forced supply but demand, and unless the private financial sector is finally willing to start lending money (which for the entire duration of QE it has not) US growth will stall and then proceed to decline.

Case in point: total US commerical bank loans are still lower than they were the day Lehman filed.

In other words, all the GDP “growth” since the Lehman failure has come on the back of money “created” by the Fed.

And there are still those who think the Fed will ever unwind…

http://www.zerohedge.com/news/2013-04-21/us-gdp-will-be-revised-higher-500-billion-following-addition-intangibles-economy

EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, FRIDAY, APRIL 26, 2013
BEA 13-18

* See the navigation bar at the right side of the news release text for links to data tables,
contact personnel and their telephone numbers, and supplementary materials.

Lisa S. Mataloni: (202) 606-5304 (GDP) gdpniwd@bea.gov
Recorded message: (202) 606-5306
Jeannine Aversa: (202) 606-2649 (News Media)
National Income and Product Accounts
Gross Domestic Product, First Quarter 2013 (advance estimate)
      Real gross domestic product -- the output of goods and services produced by labor and property
located in the United States -- increased at an annual rate of 2.5 percent in the first quarter of 2013 (that
is, from the fourth quarter to the first quarter), according to the "advance" estimate released by the
Bureau of Economic Analysis.  In the fourth quarter, real GDP increased 0.4 percent.

      The Bureau emphasized that the first-quarter advance estimate released today is based on source
data that are incomplete or subject to further revision by the source agency (see the box on page 3 and
"Comparisons of Revisions to GDP" on page 5).  The "second" estimate for the first quarter, based on
more complete data, will be released on May 30, 2013.

      The increase in real GDP in the first quarter primarily reflected positive contributions from
personal consumption expenditures (PCE), private inventory investment, exports, residential investment,
and nonresidential fixed investment that were partly offset by negative contributions from federal
government spending and state and local government spending.  Imports, which are a subtraction in the
calculation of GDP, increased.

BOX_______________________
     Comprehensive Revision of the National Income and Product Accounts

     BEA plans to release the results of the 14th comprehensive (or benchmark) revision of the national
income and product accounts (NIPAs) in conjunction with the second quarter 2013 "advance" estimate
on July 31, 2013.  More information on the revision is available on BEA’s Web site at
www.bea.gov/gdp-revisions, including a link to an article in the March 2013 issue of the Survey of
Current Business that discusses the upcoming changes in definitions and presentations, including
capitalizing spending on research and development and on entertainment originals and measuring
transactions of defined benefit pension plans on an accrual accounting basis.  An article in the May
Survey will describe changes in statistical methods, and an article in the September Survey will describe
the estimates in detail.  Revised NIPA table stubs and news release stubs will be available in June.

FOOTNOTE___________________

      Quarterly estimates are expressed at seasonally adjusted annual rates, unless otherwise
specified.  Quarter-to-quarter dollar changes are differences between these published estimates.  Percent
changes are calculated from unrounded data and are annualized.  "Real" estimates are in chained (2005)
dollars.  Price indexes are chain-type measures.

      This news release is available on www.bea.gov along with the Technical Note and highlights related to this release.
___________________________

      The acceleration in real GDP in the first quarter primarily reflected an upturn in private
inventory investment, an acceleration in PCE, an upturn in exports, and a smaller decrease in federal
government spending that were partly offset by an upturn in imports and a deceleration in nonresidential
fixed investment.

      Motor vehicle output added 0.24 percentage point to the first-quarter change in real GDP after
adding 0.18 percentage point to the fourth-quarter change.  Final sales of computers subtracted 0.01
percentage point from the first-quarter change in real GDP after adding 0.10 percentage point to the
fourth-quarter change.

      The price index for gross domestic purchases, which measures prices paid by U.S. residents,
increased 1.1 percent in the first quarter, compared with an increase of 1.6 percent in the fourth.
Excluding food and energy prices, the price index for gross domestic purchases increased 1.3 percent in
the first quarter, compared with an increase of 1.2 percent in the fourth.

      Real personal consumption expenditures increased 3.2 percent in the first quarter, compared with
an increase of 1.8 percent in the fourth.  Durable goods increased 8.1 percent, compared with an increase
of 13.6 percent.  Nondurable goods increased 1.0 percent, compared with an increase of 0.1 percent.
Services increased 3.1 percent, compared with an increase of 0.6 percent.

      Real nonresidential fixed investment increased 2.1 percent in the first quarter, compared with an
increase of 13.2 percent in the fourth.  Nonresidential structures decreased 0.3 percent, in contrast to an
increase of 16.7 percent.  Equipment and software increased 3.0 percent, compared with an increase of
11.8 percent.  Real residential fixed investment increased 12.6 percent, compared with an increase of
17.6 percent.

      Real exports of goods and services increased 2.9 percent in the first quarter, in contrast to a
decrease of 2.8 percent in the fourth.  Real imports of goods and services increased 5.4 percent, in
contrast to a decrease of 4.2 percent.

      Real federal government consumption expenditures and gross investment decreased 8.4 percent
in the first quarter, compared with a decrease of 14.8 percent in the fourth.  National defense decreased
11.5 percent, compared with a decrease of 22.1 percent.  Nondefense decreased 2.0 percent, in contrast
to an increase of 1.7 percent.  Real state and local government consumption expenditures and gross
investment decreased 1.2 percent, compared with a decrease of 1.5 percent.

      The change in real private inventories added 1.03 percentage points to the first-quarter change in
real GDP after subtracting 1.52 percentage points from the fourth-quarter change.  Private businesses
increased inventories $50.3 billion in the first quarter, following increases of $13.3 billion in the fourth
quarter and $60.3 billion in the third.

      Real final sales of domestic product -- GDP less change in private inventories -- increased 1.5
percent in the first quarter, compared with an increase of 1.9 percent in the fourth.

Gross domestic purchases

      Real gross domestic purchases -- purchases by U.S. residents of goods and services wherever
produced -- increased 2.9 percent in the first quarter; it was unchanged in the fourth quarter.

Disposition of personal income

      Current-dollar personal income decreased $109.1 billion (3.2 percent) in the first quarter, in
contrast to an increase of $262.3 billion (8.1 percent) in the fourth.  The downturn in personal income
primarily reflected a sharp downturn in personal dividend income and a sharp acceleration in
contributions for government social insurance -- a subtraction in the calculation of personal income.
Fourth-quarter personal dividend income was boosted by the payment of accelerated and special
dividends. The acceleration in contributions for government social insurance in the first quarter resulted
from the expiration of the "payroll tax holiday."

      Personal current taxes increased $27.2 billion in the first quarter, compared with an increase of
$34.3 billion in the fourth.

      Disposable personal income decreased $136.3 billion (4.4 percent) in the first quarter, in contrast
to an increase of $228.0 billion (7.9 percent) in the fourth.  Real disposable personal income decreased
5.3 percent, in contrast to an increase of 6.2 percent.

      Personal outlays increased $116.3 billion (4.1 percent) in the first quarter, compared with an
increase of $97.0 billion (3.4 percent) in the fourth.  Personal saving -- disposable personal income less
personal outlays -- was $313.3 billion in the first quarter, compared with $566.0 billion in the fourth.

      The personal saving rate -- personal saving as a percentage of disposable personal income -- was
2.6 percent in the first quarter, compared with 4.7 percent in the fourth.  For a comparison of personal
saving in BEA’s national income and product accounts with personal saving in the Federal Reserve
Board’s flow of funds accounts and data on changes in net worth, go to
www.bea.gov/national/nipaweb/Nipa-Frb.asp.

Current-dollar GDP

      Current-dollar GDP -- the market value of the nation's output of goods and services -- increased
3.7 percent, or $146.1 billion, in the first quarter to a level of $16,010.2 billion.  In the fourth quarter,
current-dollar GDP increased 1.3 percent, or $53.1 billion.

BOX_____________________
      Information on the assumptions used for unavailable source data is provided in a technical note
that is posted with the news release on BEA's Web site.  Within a few days after the release, a detailed
"Key Source Data and Assumptions" file is posted on the Web site.  In the middle of each month, an
analysis of the current quarterly estimate of GDP and related series is made available on the Web site;
click on Survey of Current Business, "GDP and the Economy."  For information on revisions, see
"Revisions to GDP, GDI, and Their Major Components."
________________________

      BEA's national, international, regional, and industry estimates; the Survey of Current Business;
and BEA news releases are available without charge on BEA's Web site at www.bea.gov. By visiting the
site, you can also subscribe to receive free e-mail summaries of BEA releases and announcements.

                                           *          *          *

                              Next release -- May 30, 2013, at 8:30 A.M. EDT for:
                              Gross Domestic Product:  First Quarter 2013 (Second Estimate)
                              Corporate Profits:  First Quarter 2013 (Preliminary Estimate)

                                            Comparisons of Revisions to GDP

     Quarterly estimates of GDP are released on the following schedule:  the "advance" estimate, based on
source data that are incomplete or subject to further revision by the source agency, is released near the end of the
first month after the end of the quarter; as more detailed and more comprehensive data become available,
the "second" and "third" estimates are released near the end of the second and third months, respectively.
The "latest"” estimate reflects the results of both annual and comprehensive revisions.

     Annual revisions, which generally cover the quarters of the 3 most recent calendar years, are usually carried
out each summer and incorporate newly available major annual source data.  Comprehensive (or benchmark)
revisions are carried out at about 5-year intervals and incorporate major periodic source data, as well as
improvements in concepts and methods that update the accounts to portray more accurately the evolving U.S.
economy.

The table below shows comparisons of the revisions between quarterly percent changes of current-dollar
and of real GDP for the different vintages of the estimates.  From the advance estimate to the second estimate (one
month later), the average revision to real GDP without regard to sign is 0.5 percentage point, while from the
advance estimate to the third estimate (two months later), it is 0.6 percentage point.  From the advance estimate to
the latest estimate, the average revision without regard to sign is 1.3 percentage points.  The average revision
(with regard to sign) from the advance estimate to the latest estimate is 0.2 percentage point, which is larger
than the average revisions from the advance estimate to the second or to the third estimates.  The larger average
revisions to the latest estimate reflect the fact that comprehensive revisions include major improvements, such as
the incorporation of BEA’s latest benchmark input-output accounts.  The quarterly estimates correctly indicate the
direction of change of real GDP 97 percent of the time, correctly indicate whether GDP is accelerating or
decelerating 72 percent of the time, and correctly indicate whether real GDP growth is above, near, or below trend
growth more than four-fifths of the time.

                           Revisions Between Quarterly Percent Changes of GDP: Vintage Comparisons
                                                     [Annual rates]

       Vintages                                   Average         Average without     Standard deviation of
       compared                                                    regard to sign      revisions without
                                                                                         regard to sign

____________________________________________________Current-dollar GDP_______________________________________________

Advance to second....................               0.2                 0.6                  0.4
Advance to third.....................                .1                  .7                   .4
Second to third......................                .0                  .3                   .2

Advance to latest....................                .3                 1.2                  1.0

________________________________________________________Real GDP_____________________________________________________

Advance to second....................               0.1                 0.5                  0.4
Advance to third.....................                .1                  .6                   .5
Second to third......................                .0                  .2                   .2

Advance to latest....................                .2                 1.3                  1.0

NOTE.  These comparisons are based on the period from 1983 through 2009.
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Progressive President Problem — Warfare and Welfare State — Big Government Intervention In Economy At Home and Militarily Abroad — Government Dependency — Serfdom and Collectivism in The New World Order — They Have Won — The Solution — Freedom Force International– Videos

Posted on April 25, 2013. Filed under: American History, Blogroll, Business, College, Communications, Constitution, Crime, Demographics, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Language, Law, liberty, Life, Links, Macroeconomics, media, People, Philosophy, Politics, Rants, Raves, Regulations, Security, Talk Radio, Tax Policy, Taxes, Technology, Terrorism, Video, War, Wealth, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , |

progressive_presidents

5_Living_US_Presidents

roundtables

Mind blowing speech by Robert Welch in 1958 predicting Insiders plans to destroy America

G. Edward Griffin: The Collectivist Conspiracy (Full Length)

An Idea Whose Time Has Come – G. Edward Griffin – Freedom Force International – Full

G. Edward Griffin Promotes Freedom Force International Part 1 of 2

G. Edward Griffin Promotes Freedom Force International Part 2 of 2

Capitalism Without Guilt – Yaron Brook on morals of capitalism.

Invisible Empire A New World Order Defined Full

George W. Bush breaks down at library dedication

Bill Clinton speaks of Carroll Quigley at 1992 Democratic National Convention

tragedy-and-hope

Hillary Clinton admits that the CFR runs the Government

Dick Cheney ex-director of CFR talks to David Rockefeller

Americans and Collectivism – TheBlazeTV – The Glenn Beck Program – 2013.04.26

Glenn Beck Predicts New World Order. Global Reset. U.S. Will Be A 3rd World State

Glenn Beck- ‘How Did Communism Become Cool?’

Super rich are in a conspiracy to rule the world – G. Edward Griffin

G. Edward Griffin The Dangerous Servant A Discourse on Government

The Quigley Formula – G. Edward Griffin lecture

tragedyandhope.3

“Legalized Plunder of the American People” – G. Edward Griffin

The Shadows of Power: The Council on Foreign Relations and the American Decline | James Perloff

Invisible Empire A New World Order Defined Full

[yotube=http://www.youtube.com/watch?v=NO24XmP1c5E]

THE CREED OF FREEDOM

INTRINSIC NATURE OF RIGHTS
I believe that only individuals have rights, not the collective group; that these rights are intrinsic to each individual, not granted by the state; for if the state has the power to grant them, it also has the power to deny them, and that is incompatible with personal liberty.
I believe that a just state derives its power solely from its citizens. Therefore, the state must never presume to do anything beyond what individual citizens also have the right to do. Otherwise, the state is a power unto itself and becomes the master instead of the servant of society.

SUPREMACY OF THE INDIVIDUAL
I believe that one of the greatest threats to freedom is to allow any group, no matter its numeric superiority, to deny the rights of the minority; and that one of the primary functions of a just state is to protect each individual from the greed and passion of the majority.

FREEDOM OF CHOICE
I believe that desirable social and economic objectives are better achieved by voluntary action than by coercion of law. I believe that social tranquility and brotherhood are better achieved by tolerance, persuasion, and the power of good example than by coercion of law. I believe that those in need are better served by charity, which is the giving of one’s own money, than by welfare, which is the giving of other people’s money through coercion of law.

EQUALITY UNDER LAW
I believe that all citizens should be equal under law, regardless of their national origin, race, religion, gender, education, economic status, life style, or political opinion. Likewise, no class should be given preferential treatment, regardless of the merit or popularity of its cause. To favor one class over another is not equality under law.

PROPER ROLE OF THE STATE
I believe that the proper role of the state is negative, not positive; defensive, not aggressive. It is to protect, not to provide; for if the state is granted the power to provide for some, it must also be able to take from others, and that always leads to legalized plunder and loss of freedom. If the state is powerful enough to give us everything we want, it also will be powerful enough to take from us everything we have. Therefore, the proper function of the state is to protect the lives, liberty, and property of its citizens, nothing more. That state is best which governs least.


THE THREE COMMANDMENTS OF FREEDOM

The Creed of Freedom is based on five principles. However, in day-to-day application, they can be reduced to just three codes of conduct. These are The Three Commandments of Freedom:

INDIVIDUAL RIGHTS
Only individuals have rights, not groups. Therefore, do not sacrifice the rights of any individual or minority for the alleged rights of groups.

EQUALITY UNDER LAW
To favor one class of citizens over others is not equality under law. Therefore, do not endorse any law that does not apply to all citizens equally.

FREEDOM OF CHOICE
The proper function of the state is to protect, not to provide. Therefore, do not approve coercion for any purpose except to protect human life, liberty, or property.


THE THREE PILLARS OF FREEDOM

Another way of viewing these principles is to consider them as the three pillars of freedom. They are concepts that underlie the ideology of individualism, and individualism is the indispensable foundation of freedom.

For the rational and historical support for The Creed of Freedom, see The Chasm in the Issues section of his site. This 21-page document will take 10 to 45 seconds to load depending on the speed of your Internet connection.

Background Articles and Videos

Freedom Force International speaker for Liberty in Pittsburgh

Rare Carroll Quigley interview

Professor Carroll Quigley, Bill Clinton’s mentor at Georgetown University, authored a massive volume entitled “Tragedy and Hope” in which he states: “There does exist and has existed for a generation, an international network which operates, to some extent, in the way the radical right believes the Communists act. In fact, this network, which we may identify as the Round Table Groups, has no aversion to cooperating with the Communists, or any other groups, and frequently does so. I know of the operations of this network because I have studied it for twenty years and was permitted for two years, in the early 1960s, to examine its papers and secret records. I have no aversion to it or to most of its aims, and have, for much of my life, been close to it and to many of its instruments. I have objected, both in the past and recently, to a few of its policies, but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.”

[1 of 5] Rare Carroll Quigley Interview

Carroll Quigley was the historian for the Council on Foreign Relations and author of Tragedy and Hope (tragedy is all the people who must suffer and die for the NWO, and the hope is the NEW WORLD ORDER )

Professor Quigley was a Globalist, he supported the idea NEW WORLD ORDER and wrote about it, he, unlike the elites, thought the people should know about it.

“I know of this network because I have studied it for twenty years and was permitted for two years in the early 1960s to examine its papers and secret records. I have no aversion to it or to most of its aims and have, for much of my life, been close to it and to many of its instruments. I have objected, both in the past and recently, to a few of its policies … but in general my chief difference of opinion is that it wishes to remain unknown, and I believe its role in history is significant enough to be known.” — Dr. Carroll Quigley, Tragedy and Hope

“The powers of financial capitalism had another far reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements, arrived at in frequent private meetings and conferences…”

“The apex of the system was the Bank for International Settlements in Basle, Switzerland, a private bank owned and controlled by the worlds’ central banks which were themselves private corporations…”

“The growth of financial capitalism made possible a centralization of world economic control and use of this power for the direct benefit of financiers and the indirect injury of all other economic groups.” Tragedy and Hope: A History of The World in Our Time (Macmillan Company, 1966,) Professor Carroll Quigley of Georgetown University

“The Council on Foreign Relations is the American branch of a society which originated in England … [and] … believes national boundaries should be obliterated and one-world rule established.” Dr. Carroll Quigley

“As a teenager, I heard John Kennedy’s summons to citizenship. And then, as a student, I heard that call clarified by a professor I had named Carroll Quigley.”President Clinton, in his acceptance speech for the Democratic Party’s nomination for president, 16 July 1992

[2 of 5] Rare Carroll Quigley Interview

[3 of 5] Rare Carroll Quigley Interview

[4 of 5] Rare Carroll Quigley Interview

[5 of 5] Rare Carroll Quigley Interview

The Creature From Jekyll Island (by G. Edward Griffin)

The Creature From Jekyll Island
A Second Look at the Federal Reserve
by G. Edward Griffin

Recorded: 1994

Edward Griffin – The Subversion Factor

CFR – List of Members and Organisations Involved

Jimmy Carter Administration

President Carter (who became a CFR member in 1983) appointed over 60 CFR members to serve in his Administration:

  • Walter Mondale (Vice-President)
  • Zbigniew Brzezinski (National Security Advisor)
  • Cyrus R. Vance (Secretary of State)
  • W. Michael Blumenthal (Secretary of Treasury)
  • Harold Brown (Secretary of Defense)
  • Stansfield Turner (Director of the CIA)
  • Gen. David Jones (Chairman of the Joint Chiefs of Staff)

Ronald Reagan Administration

There were 75 CFR and Trilateral Commission members under President Reagan:

  • Alexander Haig (Secretary of State)
  • George Shultz (Secretary of State)
  • Donald Regan (Secretary of Treasury)
  • William Casey (CIA Director)
  • Malcolm Baldridge (Secretary of Commerce)
  • Jeanne J. Kirkpatrick (U.N. Ambassador)
  • Frank C. Carlucci (Deputy Secretary of Defense)
  • William E. Brock (Special Trade Representative)

George H. W. Bush Administration

During his 1964 campaign for the U.S. Senate in Texas, George Bush said: “If Red China should be admitted to the U.N., then the U.N. is hopeless and we should withdraw.” In 1970, as Ambassador to the U.N., he pushed for Red China to be seated in the General Assembly. When Bush was elected, the CFR member became the first President to publicly mention the “New World Order” and had in his Administration nearly 350 CFR and Trilateral Commission members:

  • Brent Scowcroft (National Security Advisor)
  • Richard B. Cheney (Secretary of Defense)
  • Colin L. Powell (Chairman of the Joint Chiefs of Staff)
  • William Webster (Director of the CIA)
  • Richard Thornburgh (Attorney General)
  • Nicholas F. Brady (Secretary of Treasury)
  • Lawrence S. Eagleburger (Deputy Secretary of State)
  • Horace G. Dawson, Jr. (U.S. Information Agency and Director of the Office of Equal Opportunity and Civil Rights)
  • Alan Greenspan (Chairman of the Federal Reserve Board)

Bill Clinton Administration

When CFR member Bill Clinton was elected, Newsweek magazine would later refer to him as the “New Age President.” In October, 1993, Richard Harwood, a Washington Post writer, in describing the Clinton Administration, said its CFR membership was “the nearest thing we have to a ruling establishment in the United States”.

  • Albert Gore, Jr. (Vice-President)
  • Donna E. Shalala (Secretary of Health and Human Services)
  • Laura D. Tyson (Chairman of the Council of Economic Advisors)
  • Alice M. Rivlin (Deputy Director of the Office of Management and Budget)
  • Madeline K. Albright (U.S. Ambassador to the U.N.)
  • Warren Christopher (Secretary of State)
  • Clifton R. Wharton, Jr. (Deputy Secretary of State and former Chairman of the Rockefeller Foundation)
  • Les Aspin (Secretary of Defense)
  • Colin Powell (Chairman, Joint Chiefs of Staff)
  • W. Anthony Lake (National Security Advisor)
  • George Stephanopoulos (Senior Advisor)
  • Samuel R. ‘Sandy’ Berger (Deputy National Security Advisor)
  • R. James Woolsey (CIA Director)
  • William J. Crowe, Jr. (Chairman of the Foreign Intelligence Advisory Board)
  • Lloyd Bentsen (former member, Secretary of Treasury)
  • Roger C. Altman (Deputy Secretary of Treasury)
  • Henry G. Cisneros (Secretary of Housing and Urban Development)
  • Bruce Babbit (Secretary of the Interior)
  • Peter Tarnoff (Under Secretary of State for International Security of Affairs)
  • Winston Lord (Assistant Secretary of State for East Asian and Pacific Affairs)
  • Strobe Talbott (Aid Coordinator to the Commonwealth of Independent States)
  • Alan Greenspan (Chairman of the Federal Reserve System)
  • Walter Mondale (U.S. Ambassador to Japan)
  • Ronald H. Brown (Secretary of Commerce)
  • Franklin D. Raines (Economics and International Trade).

George W. Bush Administration

  • Richard Cheney (Vice President, former Secretary of Defense under President G.H.W. Bush)
  • Colin Powell (Secretary of State, former Chairman of the Joint Chiefs of Staff under Presidents Bush and Clinton)
  • Condoleeza Rice (National Security Advisor, former member of President Bush’s National Security Council)
  • Robert B. Zoellick (U.S. Trade Representative, former Under Secretary of State in the Bush administration)
  • Elaine Chao (Secretary of Labor)
  • Brent Scowcroft (Chairman of the Foreign Intelligence Advisory Board, former National Security Advisor to President Bush)
  • Richard Haass (Director of Policy Planning at the State Department and Ambassador at Large)
  • Henry Kissinger (Pentagon Defense Policy Board, former Secretary of State under Presidents Nixon and Ford)
  • Robert Blackwill (U.S. Ambassador to India, former member of President Bush’s National Security Council)
  • Stephen Friedman (Sr. White House Economic Advisor)
  • Stephen Hadley (Deputy National Security Advisor, former Assistant Secretary of Defense under Cheney)
  • Richard Perle (Chairman of Pentagon Defense Policy Board, former Assistant Secretary of Defense in the Reagan administration)
  • Paul Wolfowitz (Assistant Secretary of Defense, former Assistant Secretary of State in the Reagan administration and former Under Secretary of Defense in the Bush administration)
  • Dov S. Zakheim (Under Secretary of Defense, Comptroller, former Under Secretary of Defense in the Reagan administration)
  • I. Lewis Libby (Chief of Staff for the Vice President, former Deputy Under Secretary of Defense).

http://modernhistoryproject.org/mhp?Article=FinalWarning&C=5.3

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Special Report Breit Baier On The Saudi National Deportation 212 3-b for Terrorist Activities — Videos

Posted on April 25, 2013. Filed under: American History, Blogroll, Business, College, Communications, Constitution, Crime, Economics, Education, Federal Government, Foreign Policy, government spending, history, Immigration, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Terrorism, Video, Wisdom | Tags: , , , , , , , , , , |

bret_baier

Abdul-Rahman-Ali-Al-Harbi

breit_baier

Bret Baier – TheBlazeTV – The Glenn Beck Radio Program – 2013.04.24

Bob Trent – TheBlazeTV – The Glenn Beck Program – 2013.04.24

The Glenn Beck Program Saudi Suspect/Boston Bombing Air Date: 4-24-13.

Multiple Confirmations of Immediate Deportation of Saudi National in Boston Bombing

Saudi National and Boston Student Abdulrahman Ali Alharbi Is Being Deported

Janet Napolitano Speaks About Saudi National – TheBlazeTV – Glenn Beck Radio Program – 2013.04.24

Janet Napolitano refuses to answer questions about the deportation of Saudi national 04/18/13

Obama Buries Boston Massacre Saudi Connection

Saudi Abdulrahman Ali Alharbi Boston Bombing Suspect Deported–why????

Related Articles and Videos

Terrorist Identities Datamart Environment

The Terrorist Identities Datamart Environment, (TIDE) is the U.S. Government’s central database on known or suspected international terrorists, and contains highly classified information provided by members of the Intelligence Community such as CIA, DIA, FBI, NSA, and many others.

There are about 745,000 names in TIDE.[1] In 2008, more than 27,000 names were removed from the list when it was determined they no longer met the criteria for inclusion. According to the FBI, international terrorists include those persons who carry out terrorist activities under foreign direction. For this purpose, they may include U.S. persons (U.S. citizens and legal permanent residents).[2] The Terrorist Identities Group (TIG), located in NCTC’s Information Sharing & Knowledge Development Directorate (ISKD), is responsible for building and maintaining TIDE.[3]

From the classified TIDE database, an unclassified, but sensitive, extract is provided to the FBI’s Terrorist Screening Center, which compiles the Terrorist Screening Database (TSDB).

This database, in turn, is used to compile various watch lists such as the TSA’s No Fly List, State Department’s Consular Lookout and Support System, Homeland Security’s Interagency Border Inspection System, and FBI’s NCIC (National Crime Information Center) for state and local law enforcement.

http://en.wikipedia.org/wiki/Terrorist_Identities_Datamart_Environment

Related Posts On Pronk Palisades

National Counterterrorism Center (NCTC) Created “Event File” For Deportation of Saudi National, Abdul Rahman Ali Al-Harbi, Under Section 212 3b for Security and Related Grounds — Terrorist Activities — Videos

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Murray Rothbard: Six Stages of the Libertarian Movement — Videos

Posted on April 24, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Culture, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Public Sector, Rants, Raves, Regulations, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , |

murray-rothbard

Murray Rothbard: Six Stages of the Libertarian Movement

Libertarianism | Murray N. Rothbard

The Future of Austrian Economics | Murray N. Rothbard

Lew Rockwell and Tom Woods discuss Rothbard and the Koch Brothers

Lew Rockwell.com Podcast #20 – Memories of Murray

Murray Rothbard Gives a Tribute to Ludwig von Mises

The_History_of_Economic_Thought_Lecture_5_Mises_and_Austrian_Economics_Murray_Rothbard

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Masters of Money — Keynes — Hayek — Marx — Videos

Posted on April 24, 2013. Filed under: American History, Banking, Blogroll, College, Communications, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, History of Economic Thought, Inflation, Investments, Law, liberty, Life, Links, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Rants, Raves, Talk Radio, Tax Policy, Unemployment, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , |

maynard_keynes

Masters Of Money: 1/3 – John Maynard Keynes (BBC Documentary Series)

friedrich-von-hayek

Masters Of Money: 2/3 – Friedrich Hayek (BBC Documentary Series)

karl_marx

Masters Of Money: 3/3 – Karl Marx (BBC Documentary Series)

Keynes the Man: Hero or Villain? | Murray N. Rothbard

Modern Myths of Keynesian Economics | Jeffrey M. Herbener

Deck the Halls with Macro Follies

Keynesianism Part I – It’s All About Spending

What GDP Leaves Out: An Austrian Look

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LIBOR Scandal — Videos

Posted on April 23, 2013. Filed under: American History, Banking, Blogroll, Business, College, Communications, Crime, Economics, Education, Federal Government, Foreign Policy, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Literacy, Macroeconomics, media, Monetary Policy, People, Philosophy, Politics, Video, Wealth, Wisdom | Tags: , , , , |

libor-scandal

LIBORmanipulation-2

Spiegel-graphic-of-Libor-scandal

BBC_Libor_Scandal

Keiser Report: The Birth of a Scandal

LIBOR investigation by financier Martin Wheatley (10Aug12)

The Wheatley Review of LIBOR: Final Report

LIBOR Scandal More Than Fraud – Whole Game is Rigged

How Barclays manipulated the libor rates 

On the Edge with Max Keiser: Libor rigging crime

What is the LIBOR / OIS spread? – MoneyWeek investment tutorials

The LIBOR scandal: what it means for you – MoneyWeek Investment Tutorials

The Biggest Banking Scandal The World Has Ever Seen (6:47)

The Real Story Surrounding  LIBOR — A Worldwide Scandal—Is Now A Funeral

Max Keiser: Cancer is How They Will Take It All

[yuotube=http://www.youtube.com/watch?v=LHtLy3AfpMI]

Bernanke grilled on Libor scandal – Rough Cuts

BANKSTERS & Fraud, The LIBOR Scandal

Unknown LIBOR Fraud of The Century (Barclays)

WORLD BANKER MAKES STUNNING CONFESSION

Judge Napolitano: “LIBOR Scandal One of the Largest Bank Orchestrated Frauds in History”

The Department of Justice is reportedly deciding whether to charge banks over growing LIBOR interest rate fixes. The international investment bank Barclays Capital has already paid $450 million in fines for illegally manipulating the rates that banks charge each other to borrow money. That rate affects everything from credit cards to car loans and mortgage rates. Shepard Smith reported that it remains to be seen whether Treasury Secretary Timothy Geithner knew about the rate manipulation when he was head of the Federal Reserve Bank of New York.

Judge Andrew Napolitano explained the importance of the LIBOR interest rate, saying, “Think of it this way, the biggest banks in London each morning announce what they’re going to charge each other for money and that number is averaged … Whatever that rate is, is the baseline for millions of other loans and mortgages around the country.”

Libor scandal

The Libor scandal is a series of fraudulent actions connected to the Libor (London Interbank Offered Rate) and also the resulting investigation and reaction. The Libor is an average interest rate calculated through submissions of interest rates by major banks in London. The scandal arose when it was discovered that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were.[3] Libor underpins approximately $350 trillion in derivatives. It is controlled by the British Bankers’ Association (BBA).[4]

The banks are supposed to submit the actual interest rates they are paying, or would expect to pay, for borrowing from other banks. The Libor is supposed to be the total assessment of the health of the financial system because if the banks being polled feel confident about the state of things, they report a low number and if the member banks feel a low degree of confidence in the financial system, they report a higher interest rate number. In June 2012, multiple criminal settlements by Barclays Bank revealed significant fraud and collusion by member banks connected to the rate submissions, leading to the scandal.[5][6][7]

Because Libor is used in U.S. derivatives markets, an attempt to manipulate Libor is an attempt to manipulate U.S. derivatives markets, and thus a violation of American law. Since mortgages, student loans, financial derivatives, and other financial products often rely on Libor as a reference rate, the manipulation of submissions used to calculate those rates can have significant negative effects on consumers and financial markets worldwide.

On 27 July 2012, the Financial Times published an article by a former trader which stated that Libor manipulation had been common since at least 1991.[8] Further reports on this have since come from the BBC[9][10] and Reuters.[11] On 28 November 2012, the Finance Committee of the Bundestag held a hearing to learn more about the issue.[12]

The British Bankers’ Association said on 25 September 2012 that it would transfer oversight of Libor to UK regulators, as predicted by bank analysts,[13] proposed by Financial Services Authority Managing Director Martin Wheatley‘s independent review recommendations.[14] Wheatley’s review recommended that banks submitting rates to Libor must base them on actual inter-bank deposit market transactions and keep records of those transactions, that individual banks’ LIBOR submissions be published after three months, and recommended criminal sanctions specifically for manipulation of benchmark interest rates.[15] Financial institution customers may experience higher and more volatile borrowing and hedging costs after implementation of the recommended reforms.[16] The UK government agreed to accept all of the Wheatley Review’s recommendations and press for legislation implementing them.[17]

Early reports of Libor manipulation

WSJ Libor study

Libor manipulation to lower rate

Hi Guys, We got a big position in 3m libor for the next 3 days. Can we please keep the lib or fixing at 5.39 for the next few days. It would really help. We do not want it to fix any higher than that. Tks a lot.

Barclays Bank trader in New York to submitter, 13 September 2006[18]

On 16 April 2008, The Wall Street Journal released a controversial article, and later study, suggesting that some banks might have understated borrowing costs they reported for the Libor during the 2008 credit crunch that may have misled others about the financial position of these banks.[19][20] In response, the BBA claimed that the Libor continued to be reliable even in times of financial crisis. Other authorities contradicted The Wall Street Journal article saying there was no evidence of manipulation. In its March 2008 Quarterly Review, the Bank for International Settlements stated that “available data do not support the hypothesis that contributor banks manipulated their quotes to profit from positions based on fixings.”[21] Further, in October 2008, the International Monetary Fund published its regular Global Financial Stability Review which also found that “Although the integrity of the U.S. dollar Libor-fixing process has been questioned by some market participants and the financial press, it appears that U.S. dollar Libor remains an accurate measure of a typical creditworthy bank’s marginal cost of unsecured U.S. dollar term funding.”[22]

A study by economists, Snider and Youle, in April 2010, however, corroborated the results of the earlier Wall Street Journal study that the Libor submissions by some member banks were being understated.[23] Unlike the earlier study, Snider and Youle suggested that the reason for understatement by member banks was not that the banks were trying to appear strong, especially during the financial crisis period of 2007 to 2008, but rather that the banks sought to make substantial profits on their large Libor interest-linked portfolios.[24] For example, in the first quarter of 2009, Citigroup had interest rate swaps of notional value of $14.2 trillion, Bank of America had interest rate swaps of notional value of $49.7 trillion and JP Morgan Chase had interest rate swaps of notional value of $49.3 trillion.[25] Given the large notional values, a small unhedged exposure to the Libor could generate large incentives to alter the overall Libor. In the first quarter of 2009, Citigroup for example reported that it would make that quarter $936 million in net interest revenue if interest rates would fall by .25 percentage points a quarter, and $1,935 million if they were to fall by 1 percentage point instantaneously.[26]

Central banks aware of Libor flaws

The Governor of the Bank of England, Mervyn King, by the end of 2008, described the Libor to the UK Parliament saying “It is in many ways the rate at which banks do not lend to each other, .. it is not a rate at which anyone is actually borrowing.”[27][28]

The New York Federal Reserve in July 2012, released documents dating back to 2007 which showed that they were aware that banks were lying about their borrowing costs when setting Libor and chose to take no action against them at that time.[29][30] Released minutes from the Bank of England indicated similarly that the bank and its deputy governor Paul Tucker were also aware as early as November 2007 of industry concerns that the Libor rate was being underreported.[31][32] In one 2008 document a Barclays employee told a New York Fed analyst, “We know that we’re not posting an honest Libor, and yet we are doing it, because if we didn’t do it, it draws unwanted attention on ourselves.”[30]

The documents show that in early 2008 a memo written by then New York Fed President Tim Geithner to Bank of England chief Mervyn King looked into ways to “fix” Libor.[33][34] While the released memos suggest that the New York Fed helped to identify problems related to Libor and press the relevant authorities in the UK to reform, there is no documentation that shows any evidence that Geithner’s recommendations were acted upon or that the Fed tried to make sure that they were. In October 2008, several months after Geithner’s memo to King, a Barclays employee told a New York Fed representative that Libor rates were still “absolute rubbish.”[30]

Regulatory investigations

The Wall Street Journal reported in March 2011 that regulators were focusing on Bank of America Corp., Citigroup Inc. and UBS AG in their probe of Libor rate manipulation.[35] A year later, it was reported in February 2012 that the U.S. Department of Justice was conducting a criminal investigation into Libor abuse.[36] Among the abuses being investigated were the possibility that traders were in direct communication with bankers before the rates were set, thus allowing them an unprecedented amount of insider knowledge into global instruments.[37] In court documents, a trader from the Royal Bank of Scotland claimed that it was common practice among senior employees at his bank to make requests to the bank’s rate setters as to the appropriate Libor rate, and that the bank also made on occasions rate requests for some hedge funds.[38] One trader’s messages from Barclays Bank indicated that for each basis point (0.01%) that Libor was moved, those involved could net “about a couple of million dollars”.[37]

The Canadian Competition Bureau was reported on 15 July 2012 to also be carrying out an investigation into price fixing by five banks of the yen denominated Libor rates. Court documents filed indicated that the Competition Bureau had been pursuing the matter since at least January 2011. The documents offered a detailed view of how and when the international banks allegedly colluded to fix the Libor rates. The information was based on a whistleblower who traded immunity from prosecution in exchange for turning on his fellow conspirators. In the court documents, a federal prosecutor for the bureau stated that the “IRD (interest-rate derivatives) traders at the participant banks communicated with each other their desire to see a higher or lower yen LIBOR to aid their trading positions”. The alleged participants are the Canadian branches of the Royal Bank of Scotland, HSBC, Deutsche Bank, JP Morgan Bank, and Citibank, as well as ICAP (Intercapital), an interdealer broker.[39]

 Fines for manipulation

Libor manipulation to raise rate

Pls go for 5.36 libor again, very important that the setting comes as high as possible … thanks.

Barclays Bank trader in New York to submitter, 29 July 2007[18]

On 27 June 2012, Barclays Bank was fined $200 million by the Commodity Futures Trading Commission,[5] $160 million by the United States Department of Justice[6] and £59.5 million by the Financial Services Authority[7] for attempted manipulation of the Libor and Euribor rates.[40] The United States Department of Justice and Barclays officially agreed that “the manipulation of the submissions affected the fixed rates on some occasions”.[41][42][43]

Barclays manipulated rates for at least two reasons. Routinely, from at least as early as 2005, traders sought particular rate submissions to benefit their financial positions. Later, during the 2007–2012 global financial crisis, they artificially lowered rate submissions to make their bank seem healthy.[6]

Following the interest rate rigging scandal, Marcus Agius, chairman of Barclays, resigned from his position.[44] One day later, Bob Diamond, the chief executive officer of Barclays, also resigned from his position.[45][46] Bob Diamond was subsequently questioned by the Parliament of the United Kingdom regarding the manipulation of Libor rates. He said he was unaware of the manipulation until that month, but mentioned discussions he had with Paul Tucker, deputy governor of the Bank of England.[47] Tucker then voluntarily appeared before parliament, to clarify the discussions he had with Bob Diamond. He said he had never encouraged manipulation of the Libor, and that other self-regulated mechanisms like the Libor should be reformed.[48]

On 19 December 2012, UBS agreed to pay regulators $1.5bn ($1.2bn to the US Department of Justice and the Commodity Futures Trading Commission, £160m to the UK Financial Services Authority and 60m CHF to the Swiss Financial Market Supervisory Authority) for its role in the scandal.[49] The investigations revealed that UBS traders had colluded with other panel banks and had made over 2,000 written requests for movements in rates from at least January 2005 to at least June 2010 to benefit their trading positions.[50] According to transcripts released by the U.K.’s Financial Services Authority, UBS traders also offered financial inducements to interdealer brokers to help manipulate rates by spreading false information. In one exchange between a UBS banker identified as Trader A and an interdealer broker, the banker wrote “if you keep 6s [i.e. the six month JPY LIBOR rate] unchanged today … I will f—ing do one humongous deal with you … Like a 50,000 buck deal, whatever … I need you to keep it as low as possible … if you do that …. I’ll pay you, you know, 50,000 dollars, 100,000 dollars… whatever you want … I’m a man of my word.” Subsequent trades between UBS and this broker generated more than $250,000 in fees to the broker.[51][52]

US Assistant Attorney General Lanny Breuer described the conduct of UBS’s as “simply astonishing” and declared the US would seek, as a criminal matter, the extradition of traders Tom Hayes and Roger Darin.[49] The bank has stated that these and other fines would probably result in a significant fourth-quarter loss in 2012.[49] The fine levied by the FSA, reduced due to the bank’s cooperation, was the largest in the agency’s history.[49]

Breadth of scandal becomes apparent

By 4 July 2012 the breadth of the scandal was evident and became the topic of analysis on news and financial programs that attempted to explain the importance of the scandal.[53] Two days later, it was announced that the U.K. Serious Fraud Office had also opened a criminal investigation into manipulation of interest rates. The investigation was not limited to Barclays.[54][55] It has been reported since then that regulators in at least ten countries on three different continents are investigating the rigging of the Libor and other interest rates.[56][57] Around 20 major banks have been named in investigations and court cases.[58]

Early estimates are that the rate manipulation scandal cost U.S. states, counties, and local governments at least $6 billion in fraudulent interest payments, above $4 billion that state and local governments have already had to spend to unwind their positions exposed to rate manipulation.[59] An increasingly smaller set of banks are participating in setting the Libor, calling into question its future as a benchmark standard, but without any viable alternative to replace it.[60]

 United States investigations

The United States Congress began investigating on 10 July. Senate Banking Committee Chairman Tim Johnson (D., S.D.) said he would question Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke about the scandal during scheduled hearings. Rep. Randy Neugebauer (R., Texas) of the House Financial Services Committee, wrote New York Federal Reserve (New York Fed) President William Dudley. He was seeking records of communications between the New York Fed and Barclays between August 2007 and November 2009 related to Libor-like rates.[61]

On 4 October 2012, Republican U.S. Senators Chuck Grassley and Mark Kirk announced that they were investigating Treasury Secretary Tim Geithner for complicity with the rate manipulation scandal. They accused Geithner of knowledge of the rate-fixing, and inaction which contributed to litigation that “threatens to clog our courts with multi-billion dollar class action lawsuits” alleging that the manipulated rates harmed state, municipal and local governments. The senators said that an American-based interest rate index is a better alternative which they would take steps towards creating.[62]

Federal Housing Finance Agency Inspector General and auditor Steve A. Linick said in a 3 November memo that Fannie Mae and Freddie Mac may have lost more than $3 billion because of the manipulation.[63]

 Parliamentary investigation

Appearing before Parliament on 16 July, Jerry del Missier, a former senior Barclays executive, said that he had received instructions from Robert Diamond to lower rates after Diamond’s discussions with bank regulators. He said that he had received information of a conversation between Diamond and Paul Tucker, deputy governor of the Bank of England, in which they had discussed the bank’s financial position at the height of the 2008 financial crisis. It was his understanding that senior British government officials had instructed the bank to alter the rates. Del Missier’s testimony followed statements from Diamond in which he denied that he had told his deputies to report false Libor rates. Speaking before Parliament the previous week, Tucker stated that he had shared concerns regarding Barclays Libor rates because the markets might view Barclays to be at risk if its Libor submissions continued to be higher than those of other international banks. In the midst of the Lehman Brothers collapse, there was concern the bank might need to be bailed out if the financial markets perceived it was a credit risk. Tucker told the committee, “I wanted to make sure that Barclays’ day-to-day funding issues didn’t push it over the cliff.”[64]

 Libor banks are sued in civil court

 Libor fixing operates as a cartel

Libor fixing a banking cartel

It’s just amazing how Libor fixing can make you that much money or lose if opposite. It’s a cartel now in London.

RBS trader in Singapore to Deutsche Bank trader, 19 August 2007[65]

In court documents filed in Singapore, Royal Bank of Scotland (RBS) trader Tan Chi Min told colleagues that his bank could move global interest rates and that the Libor fixing process in London had become a cartel. Tan in his court affidavit stated that the Royal Bank of Scotland knew of the Libor rates manipulation and that it supported such actions. In instant messages, traders at RBS extensively discussed manipulating Libor rates. In a released transcript of a 21 August 2007 chat, Jezri Mohideen, who was the head of yen products in Singapore, asked to have the Libor fixed in a conversation with other traders:[65]

Mohideen: “What’s the call on the Libor?”
Trader 2: “Where would you like it, Libor that is?”
Trader 3: “Mixed feelings, but mostly I’d like it all lower so the world starts to make a little sense.”
Trader 4: “The whole HF [hedge fund] world will be kissing you instead of calling me if Libor move lower.”
Trader 2: “OK, I will move the curve down 1 basis point, maybe more if I can.”

In another conversation on 27 March 2008, Tan asked that RBS raise its Libor submission and noted that an earlier lower figure that the bank had submitted had cost his team 200,000 pounds. In other released instant chats, Tan made it clear that the Libor fixing process had become a highly lucrative money making cartel. Tan in a conversation with traders at other banks, including Deutsche Bank’s Mark Wong said on 19 August 2007:[65]

Tan: “It’s just amazing how Libor fixing can make you that much money or lose if opposite. It’s a cartel now in London.”
Wong: “Must be damn difficult to trade man, especially [if] you [are] not in the loop.”

Mortgage rates manipulated on reset date

Homeowners in the US filed a class action lawsuit in October 2012 against twelve of the largest banks which alleged that Libor manipulation made mortgage repayments more expensive than they should have been.

Statistical analysis indicated that the Libor rose consistently on the first day of each month between 2000 and 2009 on the day that most adjustable-rate mortgages had as a change date on which new repayment rates would “reset”. An email referenced in the lawsuit from the Barclay’s settlement, showed a trader asking for a higher Libor rate because “We’re getting killed on our three-month resets.”[66] During the analysed period, the Libor rate rose on average more than two basis points above the average on the first day of the month, and between 2007 and 2009, the Libor rate rose on average more than seven and one-half basis points above the average on the first day of the month.[67]

The five lead plaintiffs included a pensioner whose home was repossessed after her subprime mortgage was securitized into Libor-based collateralized debt obligations, sold by banks to investors, and foreclosed. The plaintiffs could number 100,000, each of whom has lost thousands of dollars.[68] The complaint estimates that the banks earned hundreds of millions, if not billions of dollars, in wrongful profits as a result of artificially inflating Libor rates on the first day of each month during the complaint period.[67]

Municipalities lost billions due to rigging

The city of Baltimore and others in the US filed a class action lawsuit in April 2012 against Libor setting banks which alleged that the manipulation of Libor caused payments on their interest rate swaps to be smaller than they should have been.[69] Before the financial crisis, states and localities bought $500 billion in interest rate swaps to hedge their municipal bond sales. It is estimated that the manipulation of Libor cost municipalities at least $6 billion. These losses were in addition to $4 billion that localities had already paid to unwind backfiring interest rate swaps.[70]

Municipalities began using interest rate swaps to hedge their municipal bond sales in the late 1990s. At this time, investment bankers began offering local governments a way to save money on the sale of municipal bonds. The banks suggested instead of selling fixed interest rate bonds that local governments sell variable interest rate bonds which typically have interest rates as much as one percentage point lower than fixed interest rate bonds. For a municipal government this could mean saving as much as $1 million a year on the sale of a $100 million bond.[71]

In order to hedge costs on the sale of variable interest rate bonds, which can rise and fall with the market, local governments, such as Baltimore, purchased interest rate swaps which exchange a variable interest rate for a fixed interest rate.[72] In a swap deal, when the interest rate rises, the swap seller pays the local government the increased cost on the bond, while when the interest rate falls, the swap seller saves and pays the local government the decreased cost on the bond. The interest rate swap mechanism generally works well, however, between 2007 and 2010 the payments to local governments on their swaps artificially decreased but the cost on their bonds remained at actual market rates. This was because most interest rate swaps are linked to the Libor interest rate, while municipal bond rates are linked to the SIFMA Municipal Bond Index interest rate. During the financial crisis the two benchmark rates decoupled. Municipalities continued to pay on their bonds at the actual market Sifma rate but were paid on their interest rate swaps at the artificially lower Libor rate.[71]

Reactions and impact on banking regulation

The cost to colluding and suspect banks from litigation, penalties, and loss of confidence may drive down finance industry profits for years. The cost of litigation from the scandal may exceed that of asbestos lawsuits.[73]

 United States

US experts such as Former Assistant Secretary of the Treasury Paul Craig Roberts have argued that the Libor Scandal completes the picture of public and private financial institutions manipulating interest rates in order to prop up the prices of bonds and other fixed income instruments, and that “the motives of the Fed, Bank of England, US and UK banks are aligned, their policies mutually reinforcing and beneficial. The Libor fixing is another indication of this collusion.”[74] In that perspective they advocate stricter bank regulation, and a profound reform of the Federal Reserve System.

Former Citigroup Chairman and CEO Sandy Weill, considered one of the driving forces behind the considerable financial deregulation and “mega-mergers” of the 1990s, surprised financial analysts in Europe and North America by calling for splitting up the commercial banks from the investment banks. In effect, he says: “Bring back the Glass-Steagall Act of 1933 which led to half a century, free of financial crises.” [75]

 Europe

Mainland European scholars discussed the necessity of far-reaching banking reforms in light of the current crisis of confidence, recommending the adoption of binding regulations that would go further than the Dodd–Frank Act: notably in France where SFAF and World Pensions Council (WPC) banking experts have argued that, beyond national legislations, such rules should be adopted and implemented within the broader context of separation of powers in European Union law, to put an end to anti-competitive practices akin to exclusive dealing and limit conflicts of interest.[76][77] This perspective gained ground after the unraveling of the Libor scandal, with mainstream opinion leaders such as the Financial Times editorialists calling for the adoption of an EU-wide “Glass–Steagall II”.[78]

Naomi Wolf of The Guardian suggested in an editorial that the “notion that the entire global financial system is riddled with systemic fraud – and that key players in the gatekeeper roles, both in finance and in government, including regulatory bodies, know it and choose to quietly sustain this reality – is one that would have only recently seemed like the frenzied hypothesis of tinhat-wearers”.[79] Following Tim Geithner‘s promotion to Treasury Secretary, Wolf commented, “It is very hard, looking at the elaborate edifices of fraud that are emerging across the financial system, to ignore the possibility that this kind of silence – ‘the willingness to not rock the boat’ — is simply rewarded by promotion to ever higher positions, ever greater authority. If you learn that rate-rigging and regulatory failures are systemic, but stay quiet, well, perhaps you have shown that you are genuinely reliable and deserve membership of the club.”[79]

 Recommendations

The British Bankers’ Association said on 25 September that it would transfer oversight of Libor to UK regulators, as proposed by Financial Services Authority Managing Director Martin Wheatley and CEO-designate of the new Financial Conduct Authority.[14] On 28 September, Wheatley’s independent review was published, recommending that an independent organization with government and regulator representation, called the Tender Committee, manage the process of setting Libor under a new external oversight process for transparency and accountability. Banks that make submissions to Libor would be required to base them on actual inter-bank deposit market transactions and keep records of their transactions supporting those submissions. The review also recommended that individual banks’ Libor submissions be published, but only after three months, to reduce the risk that they would be used as a measure of the submitting banks’ creditworthiness. The review left open the possibility that regulators might compel additional banks to participate in submissions if an insufficient number do voluntarily. The review recommended criminal sanctions specifically for manipulation of benchmark interest rates such as the Libor, saying that existing criminal regulations for manipulation of financial instruments were inadequate.[15] Libor rates could be higher and more volatile after implementation of the reforms, so financial institution customers may experience higher and more volatile borrowing and hedging costs.[16] The UK government agreed to accept all of the Wheatley Review’s recommendations and press for legislation implementing them.[17]

Bloomberg LP CEO Dan Doctoroff told the European Parliament that Bloomberg LP could develop an alternative index called the Bloomberg Interbank Offered Rate that would use data from transactions such as market-based quotes for credit default swap transactions and corporate bonds.[80][81]

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Where is Gold Prices Going? Peter Schiff vs. Larry Kudlow: Gold & The Dollar — Videos

Posted on April 23, 2013. Filed under: Blogroll, Books, Business, College, Communications, Constitution, Economics, Education, Federal Government, Federal Government Budget, Fiscal Policy, government, government spending, history, Investments, Law, liberty, Life, Links, media, People, Philosophy, Politics, Raves, Taxes, Technology, Unemployment, Video, War, Wisdom | Tags: , , |

gold_price_wobbles_as_liquidation_intensifies

Peter Schiff vs. Larry Kudlow: Gold & The Dollar

Peter Schiff: I’ve Been Buying Gold for 13 Years

Bloomberg’s Alix Steel Analyzes Why Peter Schiff & Gold Mining Stocks Are Massive Losers

Clown Solidarity – Jim Cramer Supports Peter Schiff On Gold (You Know What This Means…)

Keiser Report: Correlation & Causation of Gold Price (E434, ft. Paul Craig Roberts)

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Police State In Boston–What’s Next? Martial Law: Obama’s National Defense Resources Preparedness Executive Order To Declare Martial Law In Time of Peace — Videos

Posted on April 22, 2013. Filed under: American History, Blogroll, Business, Climate, College, Communications, Diasters, Economics, Education, Employment, Energy, Farming, Federal Government, Fiscal Policy, Food, Foreign Policy, government, government spending, history, Investments, Language, Law, liberty, Life, Links, Literacy, media, Natural Gas, Nuclear Power, Oil, People, Philosophy, Politics, Private Sector, Rants, Raves, Regulations, Resources, Security, Talk Radio, Taxes, Unions, Video, War, Water, Wealth, Weapons, Wisdom | Tags: , , , , |

Martial-Law

 

ExecOrder

executive_order_National_Defense_Resources_Preparedness

thomas_jefferson_tyranny

Police perform house-to-house raids in Watertown MA ripping innocent families from their homes

On Friday, April 19, 2013, during a manhunt for a bombing suspect, police and federal agents spent the day storming people’s homes and performing illegal searches. While it was unclear initially if the home searches were voluntary, it is now crystal clear that they were absolutely NOT voluntary. Police were filmed ripping people from their homes at gunpoint, marching the residents out with their hands raised in submission, and then storming the homes to perform their illegal searches.

Shocking Footage: Americans Ordered Out Of Homes At Gunpoint By SWAT teams

This is what martial law in the US looks like

Steve Watson
Infowars.com
April 22, 2013

Shocking footage has emerged from Friday’s lockdown in Boston, where police, federal agents, national guard troops and SWAT teams enforced door to door searches of everyone’s home within twenty blocks as the entire city was placed under orders to stay off the streets.

The video, shot by a resident from their own house across the street, shows police barking orders at men and women as they order them at gunpoint to identify themselves, put their hands on their heads, and get out of their own home. They are then ordered to run down the street to be further frisked by police as scores of armed militarized cops look on.

The scenes look like something out of a disaster movie, with the backdrop of suburban America juxtaposed with what is essentially martial law playing out in full daylight.

The story floated in the mainstream media that the door to door searches were conducted with the voluntary consent of the residents of Watertown is clearly false. 9000+ Police locked down an entire city and went in with full force, with armored vehicles and combat gear, all to search for an injured 19 year old kid who turned out to be cowering in someone’s back yard.

While armies of police roamed around people’s homes and private property, Public transportation was shut down, businesses were forced to close, and a no-fly zone was enacted over Boston in an unprecedented show of force.

At this point, as military helicopters buzzed over neighborhoods, the Fourth Amendment had ceased to exist in Boston, which quickly resembled a war zone.

The compliant mainstream media reported on the activity without alarm or question. Katy Waldman of Slate wrote an article claiming that under dire circumstances police can suspend 4th Amendment rights against unreasonable searches:

In exigent circumstances, or emergency situations, police can conduct warrantless searches to protect public safety. This exception to the Fourth Amendment’s probable cause requirement normally addresses situations of “hot pursuit,” in which an escaping suspect is tracked to a private home. But it might also apply to the events unfolding in Boston if further harm or injury might be supposed to occur in the time it takes to secure a warrant.

This activity, once again, sets a shocking precedent. Police and military are training in these circumstances every single day of the year. They are fully acclimatized to the process, as if it is completely normal. They do not hesitate in carrying out such orders, which are now being implemented whenever the authorities deem a situation to be an emergency.

This is what fully fledged martial law in America looks like.

http://www.infowars.com/shocking-footage-americans-ordered-out-of-homes-at-gunpoint-by-swat-teams/

Has Watertown Made Warrantless Searches The ‘New Normal’?

April 25, 2013

By Bob Parks

The whole notion of the police “manhunt” is not a new American phenomenon. Cops chase bad guys, cops corner bad guys. Sometimes the bad guys give up quietly, sometimes they go down in a blaze of glory. But we’ve always had rules of engagement when it came to law enforcement interaction with the general public.

It appears all that got thrown out the window in the aftermath of the Boston Marathon terror bombing and the subsequent police chase in Cambridge, Massachusetts that came to a screeching halt in Watertown.

Seemingly, for the first time in the United States, we witnessed paramilitary-garbed law enforcement personnel forcing residents out of their homes at gunpoint. In some cases, the language used by law enforcement was menacing.

Because of the hysteria that comes after any terror event, the American people wanted the perpetrators caught and, in doing so, appeared to have allowed their rights against unlawful search and seizure to not be suspended, but removed.

How many times have we watched cop dramas on television where the police had a pretty good idea of where the bad guys were, but as they weren’t sure, came to the door and asked permission to come inside to “have a look around”? The only time they ever bashed a door in is when they absolutely knew the bad guys were there. If there was ever any doubt, they’d have to wait… for a court order from a judge.

That did not happen here.

The police came to people’s homes, ordered them to leave immediately at the point of a gun in some cases, and then entered their place of residence. It’s never “consensual” when the person asking you for something has a gun in his hand. “Probable cause” is convenient, but in this case, very arbitrary.

Again, I understand this was the culmination of a horrific event, but let’s say instead of the Thursday evening car chase racing through the streets and winding up in Watertown, it went up Route 9 and ended in very upscale Newton?

Do you think armed police would, under the authority of the governor of Massachusetts and the federal government, put an assault rifle nozzle in the face of a potential wealthy political donor? Would those policemen force the family of the elite into the streets while they entered a home that is worth 20 of their salaries combined?

If it weren’t a middle class area like Watertown, would you really see a politician ordering law enforcement to forcibly enter and search homes on the upper west side of Manhattan or Georgetown or Beverly Hills? Would this happen to a celebrity in his home or, heaven forbid, a congressman?

When citizens are searched by pat-down, rousted out of their homes, and we end up thanking the police with blind understanding, the government has essentially found an acceptable means to take more of our rights away without even one politician having to cast a vote.

These past events in Watertown have set a precedent.

The police can now enter our homes anytime they want. It just requires a verbal massaging of the circumstance. After all, who ever heard of “shelter-in-place” before Friday, April 19, 2013?

If the government can order us to stay in our homes, it looks like it can throw us out of them any time it wants… at the point of a gun.

http://cnsnews.com/blog/bob-parks/has-watertown-made-warrantless-searches-new-normal

Systematic House-to-House Raids in Locked-Down Watertown, Massachusetts

Police and FBI Comb Watertown for Bombing Suspect

Boston Bombing: Watertown Operation: SWAT team secures houses searching for Dzhokhar Tsarnaev

Boston Door To Door Searches – Raw Video

Raid on Boston bombing suspect captured on film

Obama signs Executive Order NDRP Martial Law – Hannity Full News Clip Fox News (Mar 19, 2012)

Alex Jones – Obama’s New America with Martial Law

President Obama recently signed an Executive Order giving him the power to implement martial law in the US. The National Defense Resources Preparedness Executive Order will give Obama the power to seize the countries resources in a time of crisis or peace. This includes resources ranging from livestock to sources of energy and water.

Many critics of the Obama Administration believe this is another effort at power grab, but others argue that EO update is irrelevant. Alex Jones, host of The Alex Jones Show, joins RT with his take on the EO.

Obama Signs NDAA Martial Law in America 2012

Obama Signs NDAA Martial Law ∞ Justifying why U have no Rights ? Ron Paul Rohbs new channel

The Final Loss of Freedom in America NDAA.

Scary New NDAA Bill Passed

For Immediate Release
March 16, 2012

Executive Order — National Defense Resources Preparedness

EXECUTIVE ORDER

NATIONAL DEFENSE RESOURCES PREPAREDNESS

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the Defense Production Act of 1950, as amended (50 U.S.C. App. 2061 et seq.), and section 301 of title 3, United States Code, and as Commander in Chief of the Armed Forces of the United States, it is hereby ordered as follows:

PART I  –  PURPOSE, POLICY, AND IMPLEMENTATION

Section 101Purpose.  This order delegates authorities and addresses national defense resource policies and programs under the Defense Production Act of 1950, as amended (the “Act”).

Sec. 102Policy.  The United States must have an industrial and technological base capable of meeting national defense requirements and capable of contributing to the technological superiority of its national defense equipment in peacetime and in times of national emergency.  The domestic industrial and technological base is the foundation for national defense preparedness.  The authorities provided in the Act shall be used to strengthen this base and to ensure it is capable of responding to the national defense needs of the United States.

Sec. 103General Functions.  Executive departments and agencies (agencies) responsible for plans and programs relating to national defense (as defined in section 801(j) of this order), or for resources and services needed to support such plans and programs, shall:

(a)  identify requirements for the full spectrum of emergencies, including essential military and civilian demand;

(b)  assess on an ongoing basis the capability of the domestic industrial and technological base to satisfy requirements in peacetime and times of national emergency, specifically evaluating the availability of the most critical resource and production sources, including subcontractors and suppliers, materials, skilled labor, and professional and technical personnel;

(c)  be prepared, in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements;

(d)  improve the efficiency and responsiveness of the domestic industrial base to support national defense requirements; and

(e)  foster cooperation between the defense and commercial sectors for research and development and for acquisition of materials, services, components, and equipment to enhance industrial base efficiency and responsiveness.

Sec. 104Implementation.  (a)  The National Security Council and Homeland Security Council, in conjunction with the National Economic Council, shall serve as the integrated policymaking forum for consideration and formulation of national defense resource preparedness policy and shall make recommendations to the President on the use of authorities under the Act.

(b)  The Secretary of Homeland Security shall:

(1)  advise the President on issues of national defense resource preparedness and on the use of the authorities and functions delegated by this order;

(2)  provide for the central coordination of the plans and programs incident to authorities and functions delegated under this order, and provide guidance to agencies assigned functions under this order, developed in consultation with such agencies; and

(3)  report to the President periodically concerning all program activities conducted pursuant to this order.

(c)  The Defense Production Act Committee, described in section 701 of this order, shall:

(1)  in a manner consistent with section 2(b) of the Act, 50 U.S.C. App. 2062(b), advise the President through the Assistant to the President and National Security Advisor, the Assistant to the President for Homeland Security and Counterterrorism, and the Assistant to the President for Economic Policy on the effective use of the authorities under the Act; and

(2)  prepare and coordinate an annual report to the Congress pursuant to section 722(d) of the Act, 50 U.S.C. App. 2171(d).

(d)  The Secretary of Commerce, in cooperation with the Secretary of Defense, the Secretary of Homeland Security, and other agencies, shall:

(1)  analyze potential effects of national emergencies on actual production capability, taking into account the entire production system, including shortages of resources, and develop recommended preparedness measures to strengthen capabilities for production increases in national emergencies; and

(2)  perform industry analyses to assess capabilities of the industrial base to support the national defense, and develop policy recommendations to improve the international competitiveness of specific domestic industries and their abilities to meet national defense program needs.

PART II  –  PRIORITIES AND ALLOCATIONS

Sec. 201Priorities and Allocations Authorities.  (a)  The authority of the President conferred by section 101 of the Act, 50 U.S.C. App. 2071, to require acceptance and priority performance of contracts or orders (other than contracts of employment) to promote the national defense over performance of any other contracts or orders, and to allocate materials, services, and facilities as deemed necessary or appropriate to promote the national defense, is delegated to the following agency heads:

(1)  the Secretary of Agriculture with respect to food resources, food resource facilities, livestock resources, veterinary resources, plant health resources, and the domestic distribution of farm equipment and commercial fertilizer;

(2)  the Secretary of Energy with respect to all forms of energy;

(3)  the Secretary of Health and Human Services with respect to health resources;

(4)  the Secretary of Transportation with respect to all forms of civil transportation;

(5)  the Secretary of Defense with respect to water resources; and

(6)  the Secretary of Commerce with respect to all other materials, services, and facilities, including construction materials.

(b)  The Secretary of each agency delegated authority under subsection (a) of this section (resource departments) shall plan for and issue regulations to prioritize and allocate resources and establish standards and procedures by which the authority shall be used to promote the national defense, under both emergency and non-emergency conditions.  Each Secretary shall authorize the heads of other agencies, as appropriate, to place priority ratings on contracts and orders for materials, services, and facilities needed in support of programs approved under section 202 of this order.

(c)  Each resource department shall act, as necessary and appropriate, upon requests for special priorities assistance, as defined by section 801(l) of this order, in a time frame consistent with the urgency of the need at hand.  In situations where there are competing program requirements for limited resources, the resource department shall consult with the Secretary who made the required determination under section 202 of this order.  Such Secretary shall coordinate with and identify for the resource department which program requirements to prioritize on the basis of operational urgency.  In situations involving more than one Secretary making such a required determination under section 202 of this order, the Secretaries shall coordinate with and identify for the resource department which program requirements should receive priority on the basis of operational urgency.

(d)  If agreement cannot be reached between two such Secretaries, then the issue shall be referred to the President through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism.

(e)  The Secretary of each resource department, when necessary, shall make the finding required under section 101(b) of the Act, 50 U.S.C. App. 2071(b).  This finding shall be submitted for the President’s approval through the Assistant to the President and National Security Advisor and the Assistant to the President for Homeland Security and Counterterrorism.  Upon such approval, the Secretary of the resource department that made the finding may use the authority of section 101(a) of the Act, 50 U.S.C. App. 2071(a), to control the general distribution of any material (including applicable services) in the civilian market.

Sec. 202Determinations.  Except as provided in section 201(e) of this order, the authority delegated by section 201 of this order may be used only to support programs that have been determined in writing as necessary or appropriate to promote the national defense:

(a)  by the Secretary of Defense with respect to military production and construction, military assistance to foreign nations, military use of civil transportation, stockpiles managed by the Department of Defense, space, and directly related activities;

(b)  by the Secretary of Energy with respect to energy production and construction, distribution and use, and directly related activities; and

(c)  by the Secretary of Homeland Security with respect to all other national defense programs, including civil defense and continuity of Government.

Sec. 203Maximizing Domestic Energy Supplies.  The authorities of the President under section 101(c)(1) (2) of the Act, 50 U.S.C. App. 2071(c)(1) (2), are delegated to the Secretary of Commerce, with the exception that the authority to make findings that materials (including equipment), services, and facilities are critical and essential, as described in section 101(c)(2)(A) of the Act, 50 U.S.C. App. 2071(c)(2)(A), is delegated to the Secretary of Energy.

Sec. 204Chemical and Biological Warfare.  The authority of the President conferred by section 104(b) of the Act, 50 U.S.C. App. 2074(b), is delegated to the Secretary of Defense.  This authority may not be further delegated by the Secretary.

PART III  –  EXPANSION OF PRODUCTIVE CAPACITY AND SUPPLY

Sec. 301Loan Guarantees.  (a)  To reduce current or projected shortfalls of resources, critical technology items, or materials essential for the national defense, the head of each agency engaged in procurement for the national defense, as defined in section 801(h) of this order, is authorized pursuant to section 301 of the Act, 50 U.S.C. App. 2091, to guarantee loans by private institutions.

(b)  Each guaranteeing agency is designated and authorized to:  (1) act as fiscal agent in the making of its own guarantee contracts and in otherwise carrying out the purposes of section 301 of the Act; and (2) contract with any Federal Reserve Bank to assist the agency in serving as fiscal agent.

(c)  Terms and conditions of guarantees under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of the Office of Management and Budget (OMB).  The guaranteeing agency is authorized, following such consultation, to prescribe:  (1) either specifically or by maximum limits or otherwise, rates of interest, guarantee and commitment fees, and other charges which may be made in connection with such guarantee contracts; and (2) regulations governing the forms and procedures (which shall be uniform to the extent practicable) to be utilized in connection therewith.

Sec. 302Loans.  To reduce current or projected shortfalls of resources, critical technology items, or materials essential for the national defense, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 302 of the Act, 50 U.S.C. App. 2092, to make loans thereunder.  Terms and conditions of loans under this authority shall be determined in consultation with the Secretary of the Treasury and the Director of OMB.

Sec. 303Additional Authorities.  (a)  To create, maintain, protect, expand, or restore domestic industrial base capabilities essential for the national defense, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303 of the Act, 50 U.S.C. App. 2093, to make provision for purchases of, or commitments to purchase, an industrial resource or a critical technology item for Government use or resale, and to make provision for the development of production capabilities, and for the increased use of emerging technologies in security program applications, and to enable rapid transition of emerging technologies.

(b)  Materials acquired under section 303 of the Act, 50 U.S.C. App. 2093, that exceed the needs of the programs under the Act may be transferred to the National Defense Stockpile, if, in the judgment of the Secretary of Defense as the National Defense Stockpile Manager, such transfers are in the public interest.

Sec. 304Subsidy Payments.  To ensure the supply of raw or nonprocessed materials from high cost sources, or to ensure maximum production or supply in any area at stable prices of any materials in light of a temporary increase in transportation cost, the head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(c) of the Act, 50 U.S.C. App. 2093(c), to make subsidy payments, after consultation with the Secretary of the Treasury and the Director of OMB.

Sec. 305Determinations and Findings.  (a)  Pursuant to budget authority provided by an appropriations act in advance for credit assistance under section 301 or 302 of the Act, 50 U.S.C. App. 2091, 2092, and consistent with the Federal Credit Reform Act of 1990, as amended (FCRA), 2 U.S.C. 661 et seq., the head of each agency engaged in procurement for the national defense is delegated the authority to make the determinations set forth in sections 301(a)(2) and 302(b)(2) of the Act, in consultation with the Secretary making the required determination under section 202 of this order; provided, that such determinations shall be made after due consideration of the provisions of OMB Circular A 129 and the credit subsidy score for the relevant loan or loan guarantee as approved by OMB pursuant to FCRA.

(b)  Other than any determination by the President under section 303(a)(7)(b) of the Act, the head of each agency engaged in procurement for the national defense is delegated the authority to make the required determinations, judgments, certifications, findings, and notifications defined under section 303 of the Act, 50 U.S.C. App. 2093, in consultation with the Secretary making the required determination under section 202 of this order.

Sec. 306Strategic and Critical Materials.  The Secretary of Defense, and the Secretary of the Interior in consultation with the Secretary of Defense as the National Defense Stockpile Manager, are each delegated the authority of the President under section 303(a)(1)(B) of the Act, 50 U.S.C. App. 2093(a)(1)(B), to encourage the exploration, development, and mining of strategic and critical materials and other materials.

Sec. 307Substitutes.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(g) of the Act, 50 U.S.C. App. 2093(g), to make provision for the development of substitutes for strategic and critical materials, critical components, critical technology items, and other resources to aid the national defense.

Sec. 308Government-Owned Equipment.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 303(e) of the Act, 50 U.S.C. App. 2093(e), to:

(a)  procure and install additional equipment, facilities, processes, or improvements to plants, factories, and other industrial facilities owned by the Federal Government and to procure and install Government owned equipment in plants, factories, or other industrial facilities owned by private persons;

(b)  provide for the modification or expansion of privately owned facilities, including the modification or improvement of production processes, when taking actions under sections 301, 302, or 303 of the Act, 50 U.S.C. App. 2091, 2092, 2093; and

(c)  sell or otherwise transfer equipment owned by the Federal Government and installed under section 303(e) of the Act, 50 U.S.C. App. 2093(e), to the owners of such plants, factories, or other industrial facilities.

Sec. 309Defense Production Act Fund.  The Secretary of Defense is designated the Defense Production Act Fund Manager, in accordance with section 304(f) of the Act, 50 U.S.C. App. 2094(f), and shall carry out the duties specified in section 304 of the Act, in consultation with the agency heads having approved, and appropriated funds for, projects under title III of the Act.

Sec. 310Critical Items.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 107(b)(1) of the Act, 50 U.S.C. App. 2077(b)(1), to take appropriate action to ensure that critical components, critical technology items, essential materials, and industrial resources are available from reliable sources when needed to meet defense requirements during peacetime, graduated mobilization, and national emergency.  Appropriate action may include restricting contract solicitations to reliable sources, restricting contract solicitations to domestic sources (pursuant to statutory authority), stockpiling critical components, and developing substitutes for critical components or critical technology items.

Sec. 311Strengthening Domestic Capability.  The head of each agency engaged in procurement for the national defense is delegated the authority of the President under section 107(a) of the Act, 50 U.S.C. App. 2077(a), to utilize the authority of title III of the Act or any other provision of law to provide appropriate incentives to develop, maintain, modernize, restore, and expand the productive capacities of domestic sources for critical components, critical technology items, materials, and industrial resources essential for the execution of the national security strategy of the United States.

Sec. 312Modernization of Equipment.  The head of each agency engaged in procurement for the national defense, in accordance with section 108(b) of the Act, 50 U.S.C. App. 2078(b), may utilize the authority of title III of the Act to guarantee the purchase or lease of advance manufacturing equipment, and any related services with respect to any such equipment for purposes of the Act.  In considering title III projects, the head of each agency engaged in procurement for the national defense shall provide a strong preference for proposals submitted by a small business supplier or subcontractor in accordance with section 108(b)(2) of the Act, 50 U.S.C. App. 2078(b)(2).

PART IV  –  VOLUNTARY AGREEMENTS AND ADVISORY COMMITTEES

Sec. 401Delegations.  The authority of the President under sections 708(c) and (d) of the Act, 50 U.S.C. App. 2158(c), (d), is delegated to the heads of agencies otherwise delegated authority under this order.  The status of the use of such delegations shall be furnished to the Secretary of Homeland Security.

Sec. 402Advisory Committees.  The authority of the President under section 708(d) of the Act, 50 U.S.C. App. 2158(d), and delegated in section 401 of this order (relating to establishment of advisory committees) shall be exercised only after consultation with, and in accordance with, guidelines and procedures established by the Administrator of General Services.

Sec. 403Regulations.  The Secretary of Homeland Security, after approval of the Attorney General, and after consultation by the Attorney General with the Chairman of the Federal Trade Commission, shall promulgate rules pursuant to section 708(e) of the Act, 50 U.S.C. App. 2158(e), incorporating standards and procedures by which voluntary agreements and plans of action may be developed and carried out.  Such rules may be adopted by other agencies to fulfill the rulemaking requirement of section 708(e) of the Act, 50 U.S.C. App. 2158(e).

PART V  –  EMPLOYMENT OF PERSONNEL

Sec. 501National Defense Executive Reserve.  (a) In accordance with section 710(e) of the Act, 50 U.S.C. App. 2160(e), there is established in the executive branch a National Defense Executive Reserve (NDER) composed of persons of recognized expertise from various segments of the private sector and from Government (except full time Federal employees) for training for employment in executive positions in the Federal Government in the event of a national defense emergency.

(b)  The Secretary of Homeland Security shall issue necessary guidance for the NDER program, including appropriate guidance for establishment, recruitment, training, monitoring, and activation of NDER units and shall be responsible for the overall coordination of the NDER program.  The authority of the President under section 710(e) of the Act, 50 U.S.C. App. 2160(e), to determine periods of national defense emergency is delegated to the Secretary of Homeland Security.

(c)  The head of any agency may implement section 501(a) of this order with respect to NDER operations in such agency.

(d)  The head of each agency with an NDER unit may exercise the authority under section 703 of the Act, 50 U.S.C. App. 2153, to employ civilian personnel when activating all or a part of its NDER unit.  The exercise of this authority shall be subject to the provisions of sections 501(e) and (f) of this order and shall not be redelegated.

(e)  The head of an agency may activate an NDER unit, in whole or in part, upon the written determination of the Secretary of Homeland Security that an emergency affecting the national defense exists and that the activation of the unit is necessary to carry out the emergency program functions of the agency.

(f)  Prior to activating the NDER unit, the head of the agency shall notify, in writing, the Assistant to the President for Homeland Security and Counterterrorism of the impending activation.

Sec. 502Consultants.  The head of each agency otherwise delegated functions under this order is delegated the authority of the President under sections 710(b) and (c) of the Act, 50 U.S.C. App. 2160(b), (c), to employ persons of outstanding experience and ability without compensation and to employ experts, consultants, or organizations.  The authority delegated by this section may not be redelegated.

PART VI  –  LABOR REQUIREMENTS

Sec. 601Secretary of Labor.  (a)  The Secretary of Labor, in coordination with the Secretary of Defense and the heads of other agencies, as deemed appropriate by the Secretary of Labor, shall:

(1)  collect and maintain data necessary to make a continuing appraisal of the Nation’s workforce needs for purposes of national defense;

(2)  upon request by the Director of Selective Service, and in coordination with the Secretary of Defense, assist the Director of Selective Service in development of policies regulating the induction and deferment of persons for duty in the armed services;

(3)  upon request from the head of an agency with authority under this order, consult with that agency with respect to:  (i) the effect of contemplated actions on labor demand and utilization; (ii) the relation of labor demand to materials and facilities requirements; and (iii) such other matters as will assist in making the exercise of priority and allocations functions consistent with effective utilization and distribution of labor;

(4)  upon request from the head of an agency with authority under this order:  (i) formulate plans, programs, and policies for meeting the labor requirements of actions to be taken for national defense purposes; and (ii) estimate training needs to help address national defense requirements and promote necessary and appropriate training programs; and

(5)  develop and implement an effective labor management relations policy to support the activities and programs under this order, with the cooperation of other agencies as deemed appropriate by the Secretary of Labor, including the National Labor Relations Board, the Federal Labor Relations Authority, the National Mediation Board, and the Federal Mediation and Conciliation Service.

(b)  All agencies shall cooperate with the Secretary of Labor, upon request, for the purposes of this section, to the extent permitted by law.

PART VII  –  DEFENSE PRODUCTION ACT COMMITTEE

Sec. 701The Defense Production Act Committee.  (a)  The Defense Production Act Committee (Committee) shall be composed of the following members, in accordance with section 722(b) of the Act, 50 U.S.C. App. 2171(b):

(1)   The Secretary of State;

(2)   The Secretary of the Treasury;

(3)   The Secretary of Defense;

(4)   The Attorney General;

(5)   The Secretary of the Interior;

(6)   The Secretary of Agriculture;

(7)   The Secretary of Commerce;

(8)   The Secretary of Labor;

(9)   The Secretary of Health and Human Services;

(10)  The Secretary of Transportation;

(11)  The Secretary of Energy;

(12)  The Secretary of Homeland Security;

(13)  The Director of National Intelligence;

(14)  The Director of the Central Intelligence Agency;

(15)  The Chair of the Council of Economic Advisers;

(16)  The Administrator of the National Aeronautics and Space Administration; and

(17)  The Administrator of General Services.

(b)  The Director of OMB and the Director of the Office of Science and Technology Policy shall be invited to participate in all Committee meetings and activities in an advisory role.  The Chairperson, as designated by the President pursuant to section 722 of the Act, 50 U.S.C. App. 2171, may invite the heads of other agencies or offices to participate in Committee meetings and activities in an advisory role, as appropriate.

Sec. 702Offsets.  The Secretary of Commerce shall prepare and submit to the Congress the annual report required by section 723 of the Act, 50 U.S.C. App. 2172, in consultation with the Secretaries of State, the Treasury, Defense, and Labor, the United States Trade Representative, the Director of National Intelligence, and the heads of other agencies as appropriate.  The heads of agencies shall provide the Secretary of Commerce with such information as may be necessary for the effective performance of this function.

PART VIII  –  GENERAL PROVISIONS

Sec. 801Definitions.  In addition to the definitions in section 702 of the Act, 50 U.S.C. App. 2152, the following definitions apply throughout this order:

(a)  “Civil transportation” includes movement of persons and property by all modes of transportation in interstate, intrastate, or foreign commerce within the United States, its territories and possessions, and the District of Columbia, and related public storage and warehousing, ports, services, equipment and facilities, such as transportation carrier shop and repair facilities.  “Civil transportation” also shall include direction, control, and coordination of civil transportation capacity regardless of ownership.  “Civil transportation” shall not include transportation owned or controlled by the Department of Defense, use of petroleum and gas pipelines, and coal slurry pipelines used only to supply energy production facilities directly.

(b)  “Energy” means all forms of energy including petroleum, gas (both natural and manufactured), electricity, solid fuels (including all forms of coal, coke, coal chemicals, coal liquification, and coal gasification), solar, wind, other types of renewable energy, atomic energy, and the production, conservation, use, control, and distribution (including pipelines) of all of these forms of energy.

(c)  “Farm equipment” means equipment, machinery, and repair parts manufactured for use on farms in connection with the production or preparation for market use of food resources.

(d)  “Fertilizer” means any product or combination of products that contain one or more of the elements nitrogen, phosphorus, and potassium for use as a plant nutrient.

(e)  “Food resources” means all commodities and products, (simple, mixed, or compound), or complements to such commodities or products, that are capable of being ingested by either human beings or animals, irrespective of other uses to which such commodities or products may be put, at all stages of processing from the raw commodity to the products thereof in vendible form for human or animal consumption.  “Food resources” also means potable water packaged in commercially marketable containers, all starches, sugars, vegetable and animal or marine fats and oils, seed, cotton, hemp, and flax fiber, but does not mean any such material after it loses its identity as an agricultural commodity or agricultural product.

(f)  “Food resource facilities” means plants, machinery, vehicles (including on farm), and other facilities required for the production, processing, distribution, and storage (including cold storage) of food resources, and for the domestic distribution of farm equipment and fertilizer (excluding transportation thereof).

(g)  “Functions” include powers, duties, authority, responsibilities, and discretion.

(h)  “Head of each agency engaged in procurement for the national defense” means the heads of the Departments of State, Justice, the Interior, and Homeland Security, the Office of the Director of National Intelligence, the Central Intelligence Agency, the National Aeronautics and Space Administration, the General Services Administration, and all other agencies with authority delegated under section 201 of this order.

(i)  “Health resources” means drugs, biological products, medical devices, materials, facilities, health supplies, services and equipment required to diagnose, mitigate or prevent the impairment of, improve, treat, cure, or restore the physical or mental health conditions of the population.

(j)  “National defense” means programs for military and energy production or construction, military or critical infrastructure assistance to any foreign nation, homeland security, stockpiling, space, and any directly related activity.  Such term includes emergency preparedness activities conducted pursuant to title VI of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5195 et seq., and critical infrastructure protection and restoration.

(k)  “Offsets” means compensation practices required as a condition of purchase in either government to government or commercial sales of defense articles and/or defense services as defined by the Arms Export Control Act, 22 U.S.C. 2751 et seq., and the International Traffic in Arms Regulations, 22 C.F.R. 120.1 130.17.

(l)  “Special priorities assistance” means action by resource departments to assist with expediting deliveries, placing rated orders, locating suppliers, resolving production or delivery conflicts between various rated orders, addressing problems that arise in the fulfillment of a rated order or other action authorized by a delegated agency, and determining the validity of rated orders.

(m)  “Strategic and critical materials” means materials (including energy) that (1) would be needed to supply the military, industrial, and essential civilian needs of the United States during a national emergency, and (2) are not found or produced in the United States in sufficient quantities to meet such need and are vulnerable to the termination or reduction of the availability of the material.

(n)  “Water resources” means all usable water, from all sources, within the jurisdiction of the United States, that can be managed, controlled, and allocated to meet emergency requirements, except “water resources” does not include usable water that qualifies as “food resources.”

Sec. 802General.  (a)  Except as otherwise provided in section 802(c) of this order, the authorities vested in the President by title VII of the Act, 50 U.S.C. App. 2151 et seq., are delegated to the head of each agency in carrying out the delegated authorities under the Act and this order, by the Secretary of Labor in carrying out part VI of this order, and by the Secretary of the Treasury in exercising the functions assigned in Executive Order 11858, as amended.

(b)  The authorities that may be exercised and performed pursuant to section 802(a) of this order shall include:

(1)  the power to redelegate authorities, and to authorize the successive redelegation of authorities to agencies, officers, and employees of the Government; and

(2)  the power of subpoena under section 705 of the Act, 50 U.S.C. App. 2155, with respect to (i) authorities delegated in parts II, III, and section 702 of this order, and (ii) the functions assigned to the Secretary of the Treasury in Executive Order 11858, as amended, provided that the subpoena power referenced in subsections (i) and (ii) shall be utilized only after the scope and purpose of the investigation, inspection, or inquiry to which the subpoena relates have been defined either by the appropriate officer identified in section 802(a) of this order or by such other person or persons as the officer shall designate.

(c)  Excluded from the authorities delegated by section 802(a) of this order are authorities delegated by parts IV and V of this order, authorities in section 721 and 722 of the Act, 50 U.S.C. App. 2170 2171, and the authority with respect to fixing compensation under section 703 of the Act, 50 U.S.C. App. 2153.

Sec. 803Authority.  (a)  Executive Order 12919 of June 3, 1994, and sections 401(3) (4) of Executive Order 12656 of November 18, 1988, are revoked.  All other previously issued orders, regulations, rulings, certificates, directives, and other actions relating to any function affected by this order shall remain in effect except as they are inconsistent with this order or are subsequently amended or revoked under proper authority.  Nothing in this order shall affect the validity or force of anything done under previous delegations or other assignment of authority under the Act.

(b)  Nothing in this order shall affect the authorities assigned under Executive Order 11858 of May 7, 1975, as amended, except as provided in section 802 of this order.

(c)  Nothing in this order shall affect the authorities assigned under Executive Order 12472 of April 3, 1984, as amended.

Sec. 804General Provisions.  (a)  Nothing in this order shall be construed to impair or otherwise affect functions of the Director of OMB relating to budgetary, administrative, or legislative proposals.

(b)  This order shall be implemented consistent with applicable law and subject to the availability of appropriations.

(c)  This order is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by any party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.

BARACK OBAMA

THE WHITE HOUSE,
March 16, 2012.

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National Counterterrorism Center (NCTC) Created “Event File” For Deportation of Saudi National, Abdul Rahman Ali Al-Harbi, Under Section 212 3b for Security and Related Grounds — Terrorist Activities — Videos

Posted on April 22, 2013. Filed under: American History, Blogroll, Business, College, Communications, Diasters, Economics, Education, Energy, Federal Government, Foreign Policy, government spending, history, Law, liberty, Life, Links, media, Natural Gas, Oil, People, Philosophy, Politics, Psychology, Rants, Raves, Strategy, Talk Radio, Unemployment, Video, Wisdom | Tags: , , , , , , , , , , |

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alharbi

Abdul Rahman Ali Al-Harbi

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National Counterterrorism Center (NCTC) Overview

Saudi National held by police after Boston Marathon bombing. Person of interest

The Glenn Beck Program Saudi Suspect/Boston Bombing Air Date: 4-24-13.

Glenn Beck- Big Sis Lied: New Info On Saudi National In Boston Attacks Confirms Cover Up.

The Saudi – U.S. Relationship – TheBlazeTV – The Glenn Beck Radio Program – 2013.04.22

The Saudi Arabia Connection – TheBlazeTV – The Glenn Beck Program – 2013.04.22

New Evidence On Boston Bombings Government Cover-Up

From TV  Glenn updates on the Saudi national — Glenn Beck 

Glenn Beck detailed new update on the Boston bombing 23/04/2013

Glenn Beck Reveals More about Saudi National

“…Monday on radio, Glenn Beck revealed further details about the Saudi national who was the first suspect in the Boston marathon bombing. Despite denials from Janet Napolitano and officials from the U.S. Immigrations and Customs (ICE) that a Saudi national was taken into custody in connection to the Boston marathon bombing, several sources have confirmed that Abdul Rahman Ali Al-Harbi was set to be deported for proven terrorist activity.

According to two FBI sources, Abdul Rahman Ali Al-Harbi was taken “into custody” Monday April 15th at a Boston after he was injured in the blast.

A source within the National Counterterrorism Center (NCTC) told TheBlaze that on Monday night Al-Harbi’s Revere, Massachusetts apartment was searched and property was taken out.

At 4:00pm ET on Tuesday April 16th, The NCTC Field Watch Commander created an “event file” calling for Al-Harbi’s deportation using Section 212 3b, which is proven terrorist activity. According to TheBlaze’s sources, tagging someone as 3b requires solid evidence.

Fox News reporter Todd Starnes has also reported, “The Saudi national who was initially detained and then ruled out as a suspect in the Boston Marathon terrorist attack had been flagged on a terror watch list and was granted a student visa without being properly vetted, sources have told me.”

Starnes report no longer appears on the Fox News website, but can be found on Townhall.

Rep. Jeff Duncan (R-SC) has told TheBlaze that he has detailed information on the Saudi national and confirmed that Al-Harbi was to be deported under Section 212 3b of the Immigration and Nationality Act. Alongside three other Congressmen, Rep. Duncan has requested a classified briefing on the Saudi national and the deportation order. …”

http://www.glennbeck.com/2013/04/22/exposed-congressional-sources-confirm-saudi-national-was-to-be-deported-for-security-related-grounds-have-files-in-their-possession/

Glenn Beck- Saudi National Is An Al Qaeda Recruiter Behind Boston Marathon Bombing

Obama’s “Catch & Release” of Saudi Boston Marathon Bombing Suspect

Jeff Duncan Questions Napolitano On Deportation Of Saudi National. Boston Bombing

Terror in Boston – Saudi Being Deported For National Security Reason? – What The Hell Is This?

Still think the FBI is telling you the truth? CHECK THIS OUT

Abdul Rahman Ali Al-Harbi, Bombing ‘Person Of Interest’ Has 6 Saudi ‘Terrorists’ In Family,5 More Are In Gitmo –

Obama Buries Boston Massacre Saudi Connection

Boston Bombing Suspects Were Gov’t Assets

National Counterterrorism Center’s Role in Counterterrorism

Pres. Obama Remarks to National Counterterrorism Center Staff

Pres. Obama Remarks to National Counterterrorism Center Staff
Tuesday, October 6, 2009
President Obama traveled to the National Counterterrorism Center in Washington, DC. He met with NCTC leadership and delivered remarks to staff members.

Background Articles and Videos

Briefing on Abdul Rahman Ali Alharbi Requested by Congressional Committee; Was on “Terror” Watch List

Abdul Rahman Ali Alharbi was the Saudi national and initial “person of interest” in the Boston Marathon bombing that killed three and injured scores of others, some critically.

It turns out that he was “flagged on a terror watch list”, as reported by Todd Starnes of Town Hall. What a coincidence! Soon after the terror attack, a brave citizen tackled Ali Alharbi when he spotted the 22-year-old running away from one of the explosive devices. It would be very interesting to speak to the vigilant citizen(s) who spotted the Saudi National, but he (or they) are yet to be named. Why? John Miller, former Assistant Director to the FBI and CBS News correspondent stated, “this person was pretty close to wherever this blast went off, but not so close as to suffer the serious injuries that other people did.” Police initially denied all reports of having a Saudi in custody, but later relented.

The man was transferred to the hospital, but not as a “suspect,” insisted officials. Regardless, a warrant was issued to search the Saudi National’s apartment, where “bags of evidence” were removed and his roommate questioned “for hours.” One would imagine that the police would have cause to get a warrant in the first place. It would be interesting to see the warrant. It turns out that it was NOT the police, but “federal authorities” who made the decision to drop the case against Ali Alharbi. According to the Boston Herald, Revere police Lt. Amy O’Hara said that federal authorities “are telling us he’s no longer a person of interest.” Another interesting fact from the Boston Herald article was that the roommate said he was “forbidden to speak about the home search by both the FBI and the Royal Embassy of Saudi Arabia.” Why?

Janet Napolitano Dismisses Deportation “Rumors”

Previous reports that Ali Alharbi was to be deported were roundly disregarded (and even mocked) by Homeland Security Secretary Janet Napolitano. She roundly dismissed deportation concerns during a “heated exchange”, which occurred on Thursday regarding the Saudi National with Rep. Jeff Duncan (R-SC). She said,

  • “I am unaware of anyone who is being deported for national security concerns at all related to Boston…I don’t know where that rumor came from.”

When Duncan questioned the wisdom of deporting “someone who was reportedly at the scene of the bombing”, Napolitano dodged the question by mocking it. She said,

  • “It is so full of misstatements and misapprehensions, that it is just not worthy of any answer…There has been so much reported on this that has been wrong. I can’t even begin to tell you, congressman.”

The condescending answer is a knee-jerk response to uncomfortable questions.

House Committee on Homeland Security Wants Answers

Despite Napolitano’s faux outrage, Key members of the House Committee on Homeland Security says it has “copies of the original deportation order” and have sent a letter to Janet Napolitano that says in part, “We request the Department provide a detailed overview of the records associated with this individual to include his law enforcement and immigration records prior to April 15, 2013, as well as his current status.” The letter was signed by Chairman Michael T. McCaul, Chairman Jeff Duncan of the subcommittee on Oversight and Management Efficiency, Chairman Peter King of the subcommittee on Counterterrorism and Intelligence, and Chairman Candice Miller of the subcommittee on Border and Maritime Security as reported by theBlaze.

House Committee on Homeland Security Requests More Info on Saudi National From Napolitano

Is Abdul Rahman Ali Alharbi involved in any way in the Boston Bombings? One thing is for sure, when the federal government dodges questions, it is not reassuring, adds to speculation, and fuels conspiracy theories. Add the inconsistent and conflicting media coverage; not to mention their endless and irresponsible speculation about the motives of the bombers before facts emerged, and it is no wonder that the mainstream media is losing credibility.

Related Posts On Pronk Palisades

Special Report Breit Baier On The Saudi National Deportation 212 3-b for Terrorist Activities — Videos

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Public Safety Exception or Enemy Combatant Designation of Boston Bomber Terrorist Suspect Dzhokhar Tsarnaev — The History of FBI Fake Terrorist Plot Planning — The One That Got Away From FBI’s Terror Factory — The Saudi Deportation of Abdul Rahman Ali Alharbi By National Counterterrorism Center (NCTC) Event File Tagged Section 212 3B — “Security and related grounds” — “Terrorist activities” –Videos

Posted on April 21, 2013. Filed under: American History, Blogroll, Bomb, College, Communications, Constitution, Crime, Economics, Education, Employment, Federal Government, Foreign Policy, government, government spending, High School, history, Law, liberty, Life, Links, media, People, Philosophy, Pistols, Politics, Radio, Rants, Raves, Rifles, Security, Talk Radio, Taxes, Video, War, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , |

fbi_terror_plot

The_Terror_Factory

Glenn Beck Reveals More about Saudi National

“…Monday on radio, Glenn Beck revealed further details about the Saudi national who was the first suspect in the Boston marathon bombing. Despite denials from Janet Napolitano and officials from the U.S. Immigrations and Customs (ICE) that a Saudi national was taken into custody in connection to the Boston marathon bombing, several sources have confirmed that Abdul Rahman Ali Al-Harbi was set to be deported for proven terrorist activity.

According to two FBI sources, Abdul Rahman Ali Al-Harbi was taken “into custody” Monday April 15th at a Boston after he was injured in the blast.

A source within the National Counterterrorism Center (NCTC) told TheBlaze that on Monday night Al-Harbi’s Revere, Massachusetts apartment was searched and property was taken out.

At 4:00pm ET on Tuesday April 16th, The NCTC Field Watch Commander created an “event file” calling for Al-Harbi’s deportation using Section 212 3b, which is proven terrorist activity. According to TheBlaze’s sources, tagging someone as 3b requires solid evidence.

Fox News reporter Todd Starnes has also reported, “The Saudi national who was initially detained and then ruled out as a suspect in the Boston Marathon terrorist attack had been flagged on a terror watch list and was granted a student visa without being properly vetted, sources have told me.”

Starnes report no longer appears on the Fox News website, but can be found on Townhall.

Rep. Jeff Duncan (R-SC) has told TheBlaze that he has detailed information on the Saudi national and confirmed that Al-Harbi was to be deported under Section 212 3b of the Immigration and Nationality Act. Alongside three other Congressmen, Rep. Duncan has requested a classified briefing on the Saudi national and the deportation order. …”

http://www.glennbeck.com/2013/04/22/exposed-congressional-sources-confirm-saudi-national-was-to-be-deported-for-security-related-grounds-have-files-in-their-possession/

Obama’s “Catch & Release” of Saudi Boston Marathon Bombing Suspect

Jeff Duncan Questions Napolitano On Deportation Of Saudi National. Boston Bombing

Terror in Boston – Saudi Being Deported For National Security Reason? – What The Hell Is This?

Was The Boston Marathon Bombing Another False Flag Attack by FBI?

Still think the FBI is telling you the truth? CHECK THIS OUT

Abdul Rahman Ali Al-Harbi, Bombing ‘Person Of Interest’ Has 6 Saudi ‘Terrorists’ In Family,5 More Are In Gitmo –

Obama Buries Boston Massacre Saudi Connection

PROOF! Boston Bombing is Staged Terror Attack

Navy Seals Soldiers Bomb Boston Marathon 2013

Inside the FBI’s ‘Terror factory’

Conversations w/Great Minds – The Terror Factory – The FBI “Sting” isn’t what you think P1

Conversations w – Great Minds – FBI Informants focus on Muslims instead of Militias P2…

Reality Check  Is The FBI Making Us Safer Breaking Up Terror Plots    YouTube

Sen. Feinstein, Rep. King Clash Over Suspect’s Enemy Combatant Status: Battlefield Now in The U.S.

Lindsey Graham: ‘A Citizen Can Be An Enemy Combatant,’ And Tsarnaev Should Be Treated Like One

Megyn Kelly Guests Clash Over ‘Enemy Combatant’ Designation For Suspect: ‘Ultimate Act Of Terror’

Rachel Maddow No Miranda Rights For Boston Bombing Suspect

Judge Napolitano: Boston Bombing Reopens Privacy vs. Safety Debate

Reality Check: Did the FBI know about Boston bombing beforehand? – Ben Swann

Former FBI Chief ADMITS Government is Involved in Most ‘Terrorist’ Attacks! 

Boston Bombing Coverup? 

Saudi Arabian Students Searched and Detained By FBI about Boston Terrorist Attack!! 

BREAKING Glenn Beck Gives Government Until Monday to Come Clean About Boston Bombing Cover-Up

Saudi student connected to Boston Marathon bombing – TheBlaze EXCLUSIVE – Glenn Beck Wake Up America 

Hannity. Boston Bombing Saudi Being DEPORTED On National Security Grounds

Glenn Beck’s Big Story On Obama And The Bombing Released!

Glenn Beck Reveals More about Saudi National

FBI Insider: Obama Administration Likely Manufactured Dubious Iran Terror Plot 

Confirmed – No Iran terror plot in FBI system: Lt. Col. Anthony Shaffer Reports 1/2 

Confirmed – No Iran terror plot in FBI system: Lt. Col. Anthony Shaffer Reports 2/2

FBI Fake Terror Plot History: Judge Napolitano

FBI agents craft their own terror plots

FBI Foils Terror Plot They Created, Again

NY Times: Terrorist Plots, Hatched by The F.B.I.

BOSTON BOMBING Did you notice this?

FBI_TERRORPLOT

Background Articles and Videos

Abdulrahman Ali Al-Harbi deportation order records altered

Abdulrahman Ali Al-Harbi was originally named as a ‘person of interest’ after the Boston bombings. The Saudi National was cleared of any involvement in the bombing, but there have been a lot of strange things going on with Abdulrahman Ali Al-Harbi and the Obama regime. According to Breitbart,  the Saudi National Abdulrahman Ali Al-Harbi had his deportation order records altered. This rescinded his deportation order. Michelle Obama decided to pay Al-Harbi a visit while he was in the hospital recovering from wounds in the attack. Michelle Obama never paid a visit to any of the other injured people, including those who lost limbs in the attack. Also, Obama himself met with the Saudi foreign minister two days after the attack. This was not listed on Obama’s public schedule and as usual the media didn’t report on this. Something very fishy is going on here. I wonder if this was supposed to be Glenn Beck’s big ‘bombshell’ for tomorrow? If so, Breitbart scooped him.

Now that it’s been revelaed that Abdulrahman Ali Al-Harbi deportation order records altered, it probably explains why Janet Napolitano got so testy when asked about Al-Harbi last week. Why would Obama or his regime alter the deportation order? Are they hiding something? Of course they are. Without a media in this country, we’ll never know what they are hiding.

The alteration occurred the night before Secretary Napolitano vehemently denied the existence of any deportation order in testimony before the House of Representatives. Sources with knowledge of these matters says the change occurred subsequent to Secretary John Kerry’s closed door meeting on Tuesday with the Saudi Minister and around the time of the meeting between the Saudi Minister and Obama later on Wednesday evening. The Saudi National has been identified as Abdulrahman Ali Al-Harbi. There is no evidence that Al-Harbi is connected to the Boston Marathon Bombings. Steven Emerson announced on Wednesday night’s episode of Hannity that the Saudi National who was a person of interest and later cleared, was set to be deported.

http://www.fireandreamitchell.com/2013/04/21/abdulrahman-ali-al-harbi-deportation-order-records-altered/?utm_source=rss&utm_medium=rss&utm_campaign=abdulrahman-ali-al-harbi-deportation-order-records-altered

Boston MANHUNT is OVER: the Second BOMBER is CAUGHT (FBI FALSE FLAG says the mother)

A retired Lieutenant Colonel in the Army weighs in on Boston.

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Terrorists Bomb Boston Marathon Finish Line — 3 Dead, 180 Injured With Two Bombs — April 15, 2013 — Updated — Photos and Videos

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15 year old girl leaves anti-gun politicians speechless — Videos

Posted on April 20, 2013. Filed under: Blogroll, Business, College, Communications, Economics, Education, government, High School, Law, liberty, Life, Links, media, People, Philosophy, Pistols, Politics, Rants, Raves, Rifles, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , |

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15 year old girl leaves anti-gun politicians speechless

Background Articles and Videos

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Obama Spurs Panic Buying — America’s Boom in Ammunition Sales — Where Has All The Ammo Gone? — Videos

Posted on April 20, 2013. Filed under: Ammunition, Blogroll, Business, College, Communications, Constitution, Crime, Culture, Economics, Education, People, Pistols, Politics, Rants, Raves, Rifles | Tags: , , , , , , , , , , , |

obama-the-kingammo_shortage

Gun Shop Owner Blames Obama For Ammo Shortage

Nationwide Ammo Shortage Hits Police In Waco, Texas

Nationwide Ammo Shortage Hurting Police In Catoosa, Oklahoma

Nationwide Ammo Shortage Impacting Local Shops in Vermont

Panic Buying on guns and ammo Has it started to stop

Ammo Scarcity: How To Find Ammunition

Ammo Jockeys push me to the Breaking point 

Ammo Shortage – Update

Trick to buying .223 ammo at Walmart 

The Ammunition Song

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Ammo Shortage

Getting started – Reloading

Getting started casting bullets – Choosing equipment for lead bullet casting, beginner, reloading

How to find free & cheap lead for bullet casting and reloading ammo

Salvaging & hauling heavy lead blocks for casting lead bullets (not scrapping) 

7.62×39 Old Brass Revival – Salvaging & Restoring old brass cases for reloading

Making Lead Cast 7.62×39 Ammo – Bullet Casting and Reloading 7.62 for the AK, SKS, CZ 527, etc.

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Senate defeats Obama’s gun grabbing agenda — Videos

Posted on April 19, 2013. Filed under: Blogroll, College, Communications, Constitution, Demographics, Economics, Education, Federal Government, liberty, Life, Links, media, People, Philosophy, Pistols, Politics, Rants, Raves, Resources, Rifles, Security, Strategy, Talk Radio, Video, Weapons | Tags: , , , , , , , , , , , |

president_obama_gun_controlgun_control_parents_children_victims

Gun Background-Check Plan Defeated in Senate

Gun show Loophole MYTH and Other Piers Morgan LIES

Obama calls Senate gun vote “shameful”

Obama: Gun lobby ‘willfully lied’

Barack Obama Speaks After Gun Control Fails in the Senate 

GOP Sen. Toomey- Background Checks Are Not ‘Gun Control,’ They’re ‘Common Sense’

Senators propose US gun control compromise

Gun Control Fight Shows Signs Of Splitting The Democratic Coalition

Wayne LaPierre On Whether NRA Supports Universal Background Checks At Gun Shows: ‘We Do Not’

Uncle Ted Cruz: ‘The Gun Show Loophole(Background Check) Doesn’t Exist’

 

What Gun Show Loophole?

The so called “gun show loophole” does not exist (I set the record straight)

Sore Loser – Sen. Feinstein After Losing Gun legislation states there will be no background checks

Megyn Kelly Panel Gun Control Argument & Debate after Shooting

Senate defeats Obama’s gun grabbing agenda

By Raymond Thomas Pronk

President Barack Obama and progressive liberals of the Democratic and Republican parties are once again attempting to infringe upon the Second Amendment Constitutional rights of the American people to keep and bear arms.

The progressive gun grabbers recognize that under Article V of the Constitution they do not have the necessary two-thirds of both Houses needed to propose an Amendment to repeal the Second Amendment nor do the gun grabbers have the necessary three-fourths of the state legislatures to ratify such an amendment.

Instead the gun grabbers propose laws that would infringe upon law-abiding American citizens in defending and protecting themselves against criminals, drug dealers, the dangerously deranged and tyrants.

In March Sen. Dianne Feinstein (D-CA) at a Senate Judiciary committee hearing on her amendment to reinstate the ban on “assault weapons” and high capacity magazines, said: “The time has come, America, to step up and ban these weapons. The other very important part of this bill is to ban large capacity ammunition feeding devices — those that hold more than 10 rounds. We have federal regulations and state laws that prohibit hunting ducks with more than three rounds. And yet it’s legal to hunt humans with 15-round, 30-round, even 150-round magazines. Limiting magazine capacity is critical because it is when a criminal, a drug dealer, a deranged individual has to pause to change magazines and reload that the police or brave bystanders have the opportunity to take that individual down.”

First, murder is a crime in all 50 states. Second, criminals, drug dealers and the dangerously deranged will use their weapons and magazines of choice, usually handguns not rifles, no matter what the federal or state laws ban. Restricting law-abiding citizens’ choice of weapons and magazine capacity would place them at an immediate disadvantage. Third, the so-called “assault weapons” that Feinstein would again ban includes semi-automatic rifles that most Americans use for hunting and sport shooting.

As John Lott, author of the books “More Guns, Less Crime” and “”The Bias Against Guns: Why Almost Everything You’ve Heard About Gun Control Is Wrong” points out, “When the federal assault weapons ban ended on Sept. 13, 2004, gun crimes and police killings were predicted to surge. Instead, they have declined.”

Senate Majority Leader Harry Reid (D-NV) on the floor of the Senate said, “On the anti-gun legislation before the Senate, we are making good progress on the effort to schedule a series of votes on amendments to the anti-gun violence legislation before the Senate.”

On April 17 Obama’s progressive gun-grabbing agenda was handed a major defeat. The Feinstein “assault weapons” ban was defeated in a bipartisan Senate vote of 60-40. An amendment to expand background checks also failed in a bipartisan vote of 54-46. The defeated amendment would have expanded background checks to cover all firearms sales at gun shows and over the Internet. However, the amendment would have exempted sales between friends and acquaintances outside of commercial venues.

The National Rifle Association’s chief lobbyist Chris W. Cox said, “This amendment would have criminalized certain private transfers of firearms between honest citizens, requiring lifelong friends, neighbors and some family members to get federal government permission to exercise a fundamental right or face prosecution.”

Under the Firearm Owners Protection Act of 1986 (FOP), the vast majority of gun sales at gun shows and over the Internet involve a Federal Firearms License (FFL) dealer that is required under the Gun Control Act of 1968 (GCA) to run a criminal background check through the National Instant Criminal Background Check System (NICS) maintained by the FBI prior to transferring the firearm to the purchaser.

Only unlicensed private party sellers such as gun collectors and occasional sellers who sell firearms at such shows are exempt from running a background check. This is the so-called “gun show loophole” that the gun grabbers want to close. However, even under existing law, if the private seller believes that the purchaser could not pass a background check, it is illegal to sell the firearm.

Texas Sen. Ted Cruz pointed out, “Why is all this focus directed at background checks? The reason is because the Department of Justice has said the only way to implement what they want–universal background checks — is a registry, a federal list of every gun owner in America. And that would be wrong; it’d be unconstitutional.”

The American people through their elected representatives in Congress will peacefully resist any attempt by progressive liberals to infringe upon their Constitutional right to keep and bear arms in order to defend and protect their lives and property from criminals, predators, the dangerously deranged and tyrants.

Ever since Obama was elected president in 2008 and re-elected in 2012, gun and ammunition sales across the country are breaking sales records and the number of criminal background checks is soaring.  The American people no longer trust their political leaders for they believe the gun grabbers’ real aim through federal anti-gun laws is to eventually repeal the Second Amendment.

As Richard Feldman said in his April 18 speech to Richland College students, progress in the gun debate will not be made until the focus shifts from controlling guns to controlling gun violence and this requires the political leaders to trust the people and the people in turn to trust their political leaders.

Richard Feldman was interviewed on the April 19 Pronk Pops Show presented by Raymond Thomas Pronk on KDUX web radio from 3-5 p.m. Fridays and author of the companion blog http://www.pronkpops.wordpress.com/.

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Town of West, Texas with 2,700 People — Fertilizer Plant Explosion Leveled And Burned Plant, Houses, Apartment, Nursing Home and School — 14 Dead and 200 Injured — April 17, 2013 — Videos

Posted on April 18, 2013. Filed under: Blogroll, Business, Communications, Diasters, Economics, Education, Investments, Language, Law, liberty, Life, Links, media, People, Politics, Raves, Video, Wisdom | Tags: , , , , , , , , , , , , , , |

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The remains of a fertilizer plant burn after an explosion at the plant in the town of West, near Wacodestroyed_plant

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Fertilizer Plant Explosion In West, Texas

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Explosion victims begin to return home

CAUGHT ON CAMERA: Fertilizer Plant Explosion Near Waco, Texas

West, Texas Factory explosion in slow motion

Massive Explosion at Fertilizer Plant Rocks Town in West Texas

How the Texas explosion unfolded

Texas resident: Plant explosion was like a nuclear bomb

Texas Massive Magnitude

Fertilizer Plant Explosion In West, Texas 

What Happened in the Texas Fireball Explosion? (Video)

Fertilizer Plant Explosion – Third Perspective

ABC World News Now:        Texas Fertilizer Explosion: Fatalities Confirmed

See how Texas blast expanded across state

Explosion rocks West, Texas fertilizer plant

Fertilizer Plant Explosion In West, Texas 

Texas Fertiliser Plant Explosion 

A fiery explosion at a Texas fertilizer plant in a small town north of Waco injured nearly 200 people, destroyed dozens of homes and businesses and prompted widespread evacuations.

Area hospitals reported treating slightly more than 170 people injured by the blast at the plant in West, Texas, and said more patients were on the way.

The blast caused fatalities, but officials early this morning would not provide an estimate on how many.

“We have tremendous amount of injuries, probably over 100 injuries at this time,” said State Trooper D.L. Wilson of the Texas Department of Public Safety around 1 a.m. ET. “At this time, we do have confirmed fatalities.”

Besides the injuries, officials said homes in a radius of about five blocks around the plant were heavily damaged — perhaps 75 homes or more.

Fertilizer plant explosion: Press conference from Waco police

Explosions rocked a fertilizer plant in West, Texas, Wednesday evening as firefighters were battling a fire, causing multiple injuries, authorities said.

Dani Moore, dispatcher with the Texas Department of Pubic Safety, said she did not know how many were injured or the extent of their injuries.

“The fertilizer plant was on fire. Firefighters were on the scene. There was an explosion … followed by a second explosion,” she said.

She said there were multiple damages to structures and vehicles. She said she had no information on the cause of the blasts or fire.

WFAA.com reported at least 10 structures were on fire, including a school which is next door to the plant. An emergency triage center was set up at a high school football field.

The TV station said on its website that a shock wave was felt in parts of North Texas.

The Waco Tribune reported injuries to several people including firefighters.

The fertilizer plant is about 20 miles north of Waco and just off Interstate 35.

KWTX.com reported one of the nearby buildings damaged was a nursing home, and state troopers transported some of the injured to hospitals in patrol cars.

It also said the explosion knocked out electrical power to part of the community.

Hillcrest Baptist Medical Center in Waco, was receiving some of the injured. Answering the phone at the hospital, Karen Jackson said she could provide no information on the number of injured or the extent

Blood-stained survivor of Texas explosion describes blast

West, TX Fertilizer Plant Explosion 4/17/2013 (Pt. 1)

West, TX Fertilizer Plant Explosion 4/17/2013 (Pt. 2)

Fertilizer plant explosion: Press conference from Waco police

West, TX Explosion Scanner Audio 

BREAKING-NEWS-Texas-fertilizer-plant-EXPLOSION-2 Confirmed-DEAD- HUNDREDS- INJURED,

Texas Governor: Explosion a ‘Nightmare Scenario’

Texas ,Waco Explosion ,14 Victims Dead !

A Texas Town Mourns the First Responders Who Paid With Their Lives

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Three-tenths of a mile from this town’s own ground zero, barely more than 24 hours after an explosion at a fertilizer plant tore through people’s houses and hearts, dozens of firefighters and emergency responders stood at attention.

Their hands raised to their brows in salute, they faced one another in two lines in the parking lot of a school, forming two walls of blue as the body of a fellow firefighter was escorted between them in the night. A bagpiper blew “Amazing Grace” as the remains, draped in an American flag, were placed in a vehicle.

It was a ritual they performed over and over — once for every person discovered in the wreckage who had been affiliated with a fire department. The scale of the disaster could be measured by the length of the ceremony; the firefighters and responders stood in the cold for about two hours, forming an honor guard 12 times for 12 bodies.

“We’re family,” said Joe Ondrasek, 46, a fire official from Brazos County who stood in salute that night and had traveled here to represent the State Firemen’s and Fire Marshals’ Association of Texas. “It’s like losing your family. It’s like six members of your family got killed in a car wreck. That’s what it is, at that level.”

Three days after the West Chemical and Fertilizer Company plant erupted in an explosion that destroyed part of this town north of Waco, the search of dozens of buildings around the plant was complete on Saturday, but the magnitude of the blast’s toll had barely started to settle in. Officials said at least 14 people were killed in the explosion, which occurred shortly before 8 p.m. Wednesday after a fire broke out at the plant for reasons that are still unclear and that remain under investigation by local, state and federal authorities.

Steve Vanek, the town’s mayor pro tem, said the state fire marshal’s office and the federal Bureau of Alcohol, Tobacco, Firearms and Explosives had completed their investigation in parts of the area, but he did not elaborate.

A majority of the dead were firefighters from five fire departments and one ambulance service who had rushed to the scene to battle the blaze and started to evacuate people when the plant exploded. Ten firefighters in all were killed, the worst disaster for Texas firefighters in more than 60 years.

On April 16, 1947, fires and explosions aboard ships docked in Texas City killed hundreds of people — including 26 Texas City firefighters — in the worst industrial accident in American history, according to the Texas State Historical Association. The blast in West happened the day after the 66th anniversary of the Texas City disaster.

After the explosion in West, it was not the Texas City disaster that many people here talked about as they tried to comprehend the scale of the loss, but another, more recent one. What Sept. 11, 2001, means to firefighters in New York City is a measure of what April 17, 2013, albeit on a smaller scale, means to firefighters in central Texas. The ceremonies at the rubble in West, the stories of the people who hurried toward the flames as others hurried away, the stunned disbelief and the raw emotion that have settled over volunteer fire stations for miles — all of it has evoked to many the imagery of Sept. 11.

Late Friday afternoon, members of the West Volunteer Fire Department attended a service at a redbrick Roman Catholic church. They sat together near the front pews wearing matching red shirts. And after the service, they gathered next to one of their fire trucks, hugging and talking. They ranged in age from their 20s to their late 50s. They were the Texas equivalent of the macho image of New York firefighters — they wore cowboy boots and jeans and spoke with a slight drawl. One member walked out of the church in tears, his left arm in a black sling, black cowboy hat in hand. Another firefighter was on crutches, and another in a wheelchair.

As they prepared to depart, they climbed into the cab of Engine 1 with great care, helping one another inside. On a window of the door of Engine 1 was a bumper sticker: “9.11.01 Heroes.”

The department lost five of its 28 members, officials said. Several members were injured and taken to hospitals, including the chief, George Nors Sr., 67, who was released on Friday. The acting chief is his son, George Nors Jr., 34. Two men killed in the explosion — the 11th and 12th bodies given an honor-guard salute Thursday night — will be recognized as honorary West firefighters for their efforts to fight the blaze. The honor guard ceremony was coordinated by the nonprofit Texas Line of Duty Death Task Force.

The department had five engines and trucks; now, it has two. On Friday night, trucks and firefighters from Waxahachie and other towns were in the fire station, covering the day-to-day duties so that members of the West department could recuperate and grieve among themselves and their loved ones.

“They lost one-fifth of their organization,” Mr. Ondrasek said. “Many of the officers within the organization either died or are in the hospital. It all brings home how dangerous the job is that you don’t get paid to do. You’re serving your community because this is what you want to do and feel like you need to do. And you can pay with your life.”

Mr. Ondrasek sat on the step at the back of a fire truck in the station. A fire chief in a Brazos County volunteer department and the secretary of the state firefighters’ group, he had come to West to assist the department with any of its needs.

Among the 10 firefighters who died was Kenny Harris, 52, a captain with Dallas Fire-Rescue. He lived in West and had been off duty when he learned of the fire at the plant and responded to the scene, officials said. Two others who died were Cyrus Reed and Jerry Chapman, both members of the Abbott Volunteer Fire Department, a town seven miles north of West, according to an Abbott town official.

By Saturday afternoon, normalcy had yet to return to West, a town of 2,700 that is a kind of Czech-American outpost in the region and home to Czech bakeries, restaurants and a Knights of Columbus Hall that hosts Czech polka bands.

The explosion destroyed water lines, leaving much of the town without water. Three days after the explosion, service had yet to be restored to many homes and businesses.

Town officials planned to open a part of the area near the blast site to residents on Saturday, though they said a curfew enforced by the authorities would be in place nightly starting at 7.

In such a close-knit community, the connections between the dead, the wounded and the first responders was intensely intimate. The town’s mayor, Tommy Muska, is also a member of the Fire Department. One of the plant’s employees who died, Cody Dragoo, 50, was also a West firefighter. Another of the town’s firefighters killed at the plant, Morris Bridges, 41, lived about four houses away. The blast damaged his house and sent his family rushing for cover. His son, Brent Bridges, 18, had been standing outside the home, and he had no idea that the blast that blew out every window of the house had also killed his father.

“My back was towards it,” he said. “I heard a loud bang, and I just saw a piece of metal hit our yard. It was on fire almost. I ran for my little brother, grabbed him and took off. He died trying to prevent that explosion.”

http://www.nytimes.com/2013/04/21/us/in-texas-mourning-first-responders-who-paid-with-their-lives.html?pagewanted=2&ref=texas

Fertilizers Meet Fire, With Disastrous Consequences

While it is still not clear what caused the explosion at a fertilizer plant that destroyed or damaged much of West, Tex., on Wednesday, the disaster is a reminder that for all the good that fertilizers do in increasing crop yields, they can also prove lethal under certain conditions.

The plant had large amounts of two commercial fertilizers, anhydrous ammonia and ammonium nitrate. Both chemicals have been linked to explosions in the past.

Anhydrous ammonia is a colorless, corrosive gas that is stored as a liquid under pressure; farmers inject it into the soil. “People mostly think of it as a toxic chemical that can cause breathing problems,” said Sam Mannan, a professor of chemical engineering at Texas A&M University. “But it’s also a flammable and explosive material.”

The gas must mix with air in relatively high proportions to ignite, so it is less dangerous than natural gas or gasoline under ordinary conditions. But Dr. Mannan suggested one way an anhydrous ammonia explosion might occur: If during a fire an ammonia tank were to be breached, the gas would mix with the air until it reached the proper concentration, at which point it would be ignited by the fire. The catastrophe at the West plant began with a fire.

Ammonium nitrate, which is usually sold in granular form, can be mixed with fuel oil to become a powerful explosive that is used often in industry and occasionally by terrorists. But Dr. Mannan said that even by itself the chemical can explode under the right conditions — if it is heated in a confined space during a fire, for example.

http://www.nytimes.com/2013/04/23/science/fertilizers-meet-fire-with-disastrous-consequences.html?ref=texas&_r=0#h[]

’15’ feared dead after explosion at Texas fertiliser plant

Up to 15 people are feared dead after a huge blast likened to a nuclear explosion ripped through a fertiliser plant near Waco, Texas.

D L Wilson of the local Department of Public Safety said: “We have a tremendous amount of injuries, likely over 100. We do have confirmed fatalities but we do not know how many. It was massive just like Iraq.”

Mr Wilson added: “We do have fatalities. The number is not current. It could go up by the minute.”

He said at least 50 to 75 homes were damaged and an apartment complex with 50 units was left a “skeleton.” Some 133 people had also been evacuated from a nearby nursing home.

Mr Wilson compared the aftermath of the explosion to the 1995 Oklahoma City bombing.

Tommy Muska, mayor of the town of West, said: “It was like a nuclear bomb went off, a big old mushroom cloud.”

The bang was heard 65 miles away in Dallas when it erupted at 8pm (1am GMT) and some mistook it for an earthquake.

According to a helicopter reporter from local television station WFAA, an area of about three blocks in West looked to have been destroyed. A school was reportedly on fire.

Hillcrest Baptist Hospital in Waco, 20 miles away, said it had treated about 65 patients of whom 38 were seriously hurt.

The plant was on fire for some time before it exploded. Firefighters rushed to the scene 30 minutes before the explosion and some of them were reportedly unaccounted for. The cause of the explosion was unknown.

Resident Crystal Anthony in West told CNN: “We all hit the ground and I just tried to protect my daughter because there was debris flying.

“I was standing less than 20ft from the nursing home which was totaled. I feel blessed to be alive.”

Local Sheriff Parnell McNamara said: “It’s a lot of devastation. It looks like a war zone with all the debris.”

Motorist Debby Marak said: “It was like being in a tornado. Stuff was flying everywhere. It blew out my windshield. It was like the whole earth shook.”

Lydia Zimmerman, told KWTX that she was in her garden 13 miles from west and it “sounded like three bombs going off very close to us.”

In West, which has a population of 2,700, a staging area for ambulances was set up on the local high school’s football field.

The explosion happened two days before the 20th anniversary of a fire in nearby Waco that engulfed a compound inhabited by David Koresh and his followers in the Branch Davidian sect, ending a siege by federal agents. Some 82 members of the sect and four federal agents died at Waco.

http://www.telegraph.co.uk/news/worldnews/northamerica/usa/10002353/15-feared-dead-after-explosion-at-Texas-fertiliser-plant.html

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Senate Defeats Obama’s Gun Grabbing Agenda — Videos

Posted on April 17, 2013. Filed under: American History, Blogroll, Business, College, Communications, Computers, Crime, Drug Cartels, Economics, Education, government, government spending, history, Inflation, Investments, Language, Law, liberty, Life, Links, Literacy, People, Philosophy, Politics, Private Sector, Public Sector, Raves, Talk Radio, Unions, Video, War, Wisdom | Tags: , , , , , , , |

Gun Control NOT Working

Obama’s Emotional Speech On Gun Control Vote FAIL Senate rejects expanded gun background checks

OBAMA’S & THE MSM’S PUSH FOR GUN CONTROL LOSES STEAM 

04/17/13 Ted Cruz Speaks about new gun control amendments

Rand Paul: We Will Filibuster Any Gun Control Bills – Hannity 3/28/2013

Obama Has Been Planning Gun Control For A Long Time

Penn & Teller  Bullshit! – Gun Control –

FEAR & LOADING in US: GUN SALES sky ROCKET as fears of TOUGHER GOVT’ GUN control RISE! [GUN-WARS]

Why Switzerland Has The Lowest Crime Rate In The World

Pro-gun rallies held across US

Ted Nugent Exposes Gun Trafficker General Eric Holder

National Instant Criminal Background Check System Overview

When buying a firearm, background checks are processed via the National Instant Criminal Background Check System (NICS). This is a great overview of the NICS process.

FBI NICS at NRA Convention

FBI: National Instant Criminal Background Check System [1998]

Gun Background Checks: How the System is Still Broken

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Richard Feldman — Ricochet: Confessions of A Gun Lobbyist — Videos

Posted on April 16, 2013. Filed under: American History, Blogroll, Business, College, Communications, Culture, Economics, Education, Employment, Federal Government, government spending, history, Immigration, Investments, Language, Law, liberty, Life, Links, Literacy, media, People, Philosophy, Politics, Psychology, Rants, Raves, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , |

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Cuomo, Cars, and Culture: How Gun Violence is More Than Mental

Michael Shank discusses gun violence and gun legislation with Richard Feldman who is President of the Independent Firearm Owners Association and the author of the book “Ricochet, Confessions of a Gun Lobbyist.” Shank discusses how background checks and bans on assault weapons, high-capacity magazines, online sales, and gun show loopholes won’t be sufficient to end gun violence. Shank identifies New York State’s leadership on gun violence prevention and draws an analogy to automobile safety training, licensing, permitting, registering and insuring. Shank finishes by identifying the multi-faceted nature of gun violence (poverty, inequality, lead), highlighting how mental illness is inappropriately scapegoated (given its marginal influence in total gun deaths), and assessing the limited scope of Congressional commitment to comprehensive legislation. Video courtesy of CCTV.

NRA Rep. Feldman to Piers Morgan: If we didn’t have Guns Who would you have turned to

Soledad O’Brien Takes On Gun Advocate Over Assault Weapons Ban

Richard Feldman on NRA and Gun Lobbying

Richard Feldman from “Gun Fight” – directed by Barbara Kopple

Richard Feldman was NRA’s regional political director in the Northeast. He’s currently featured in “Gun Fight” about how he broke ranks with the NRA and started his own gun owners organization. Barbara Kopple’s documentary will soon air on HBO. Feldman sits down with Joe Corey to talk about his involvement in the movie and indoor shrimp farming

Richard Feldman appearing on D.L. Hughley’s show

The Guns And Weed Lobbyist, Richard Feldman, Esq. – Anarchy Gumbo Podcast

Background Articles and Videos

Rand Paul Discusses Gun Control, Immigration Reform, and Boston Bombing – Glenn Beck 4/18/2013

Piers Morgan BULLIES Gun Right Advocate John Lott Live on TV: ‘I Suggest You Keep Quiet’

Politics of Gun Control, Part 1: NRA, Congress and America’s Social Capital

Politics of Gun Control, Part 2: NRA, Congress and America’s Social Capital

Second Amendment Activist Nikki Goeser and Author John Lott

 Feldman The Appeaser

I noticed Uncle linked to this piece in the Seattle PI.  It’s worthwhile to remind everyone exactly who Richard Feldman is.  As it mentions at the end of the article, Feldman “became too close to ‘the enemy’ and was sacked as a lobbyist.”  Feldman was canned because he was more interested in cutting deals with anti-gunners, and seeking out media attention than he was fighting for gun rights.

Now, before anyone goes “But Sebastian, you always say that sometimes you have to make a deal?”  That’s true, but there’s a difference between brokering a deal that makes something that would be really bad a bit less awful, which sometimes you have to do, and actively trying to make deals you don’t need to with the anti-gunners and hope they go away happy.   We all know that won’t work.   Feldman is the latter type.

It’s worthwhile to remember why he was forced to resign from his position at American Shooting Sport Council.   After a series of disastrous appeasements of the Clinton Administration, Feldman became an advocate for settling the lawsuits that were brought by various cities against the firearms industry instead of fighting them.  Feldman poorly understood when it was smart to cut a deal, and when you should fight.  NRA chose to fight, and the industry quickly got together on that and showed Feldman the door.

So it’s worthwhile to remember that Feldman has an axe to grind.

The NRA, he says, would love to see Hillary Clinton in the White House, because once again it would have an adversary in power. “In the endless struggle, it is always better to fight than to win,” he said last week. “For the NRA, losing is winning.”

And the NRA will spend large sums of money trying to defeat Hillary, just like they did Al Gore, even though Feldman also claims Al Gore would have been better for fund raising.  If they are in it merely for the money, it would seem that they don’t know what’s good for them.

The gun issue ain’t going away folks, and there will never be a time when we can stop fighting and NRA can go back to being a shooting sports organization.  I doubt highly that Chris Cox lies awake at night worrying he might be so successful that he’ll be out of a job.

http://www.pagunblog.com/2007/11/05/feldman-the-appeaser/

Richard Feldman’s Middle Ground

There’s a few ways you can look at Richard Feldman’s middle ground. SayUncle thinks Richard Feldman needs to take a closer look at the media, and that’s certainly true, but I also think Feldman, perhaps as a public relations tactic, or perhaps out of a desire to appear reasonable, often makes the assertion that both sides are extreme, and can’t we all just come to a middle ground and this issue? I can understand the sentiment, and agree that Feldman’s position can be useful in persuading people who are perhaps a bit tired of the issue. But as Feldman, who has a background in lobbying ought to know, there’s nothing about the political process that involves people, in good faith and with honest, sincere intentions, coming together to fix a problem.

I’ve read Feldman’s book Ricochet: Confessions of a Gun Lobbyist, which I enjoyed, even though I have disagreements with him on a number of things. One of the areas I disagree with him, and that he hints at in his LA Times article, is that both sides in this issue want to keep things going for the sake of fundraising, and that is preventing us from bringing this issue to a reasonable conclusion. Both sides use some shameful methods of fundraising. I’ve criticized NRA for it in the past, and have done so privately with staff in Fairfax as well. But fundraising is a necessary and vital function of every interest group out there, and I wouldn’t say our issue is alone in that. We do it, the Bradys do it, ACU does it, ACLU does it, NRLF does it, NOW does it, and all of them, at one point or another, will use scare tactics to get you to open up your wallet, because scare tactics work. But as much as Feldman might want to believe that’s what’s keeping the issue from resolving, he’s kidding himself. Let’s take a look at his article:

The bottom line is this: We must stop debating the polemics of guns and instead show wisdom and maturity to begin to resolve the problems of the negligent misuse of guns. Though a cliche, the following is nevertheless true: Guns aren’t ever the problem; guns in the wrong hands are always the problem. How we address this problem will determine the future of gun safety in America.

The LA Times aside, I think that’s the direction the debate is actually moving in, largely because the Supreme Court has settled the debate over guns in our society by taking prohibition off the table. But is that going to resolve the issue? Are both sides going to suddenly come to an agreement and find Congress completely willing to broker the deal for us, no tricks or subterfuge? Hardly. I don’t think you’d find any fundamental disagreement between Richard Feldman, most of us, and many gun control groups, over the statement above. It’s the details where you’ll find the devil, not in the intransigence of either side. As much as I think Mr. Feldman will seem the reasonable one for looking for a middle ground, I think it cheapens the legitimate disagreements and concerns of both sides in the debate, which I will talk about in the next post.

http://www.pagunblog.com/2009/12/09/richard-feldmans-middle-ground/

National Rifle Association of America (NRA)

The National Rifle Association of America (NRA) is an American nonprofit organization[3] founded in 1871 that promotes firearm ownership, as well as police training, firearm safety, marksmanship, hunting and self-defense training in the United States. The NRA is designated by the IRS as a 501(c)(3) and its lobbying branch is a 501(c)(4) organization.[4][5][6]

The NRA is the parent organization of affiliated groups such as the tax-deductible NRA Foundation and a lobbying group, the Institute for Legislative Action (ILA). The NRA is also one of the United States’ largest certifying bodies for firearm safety training and proficiency training courses for police departments, recreational hunting, and child firearm safety. The organization publishes several magazines and sponsors marksmanship events featuring shooting skill and sports.

The NRA’s political activity is based on the idea that firearm ownership is a civil right protected by the Second Amendment of the Bill of Rights.[7] The group has a nearly century long record of influencing as well as lobbying for or against proposed firearm legislation on behalf of its members. Observers and lawmakers see the NRA as one of the top three most influential lobbying groups in Washington.[6][8] NRA membership reached 4.5 million in 2013.[9][10]

History

Origins

The National Rifle Association was first chartered in the state of New York on November 17, 1871[11] by Army and Navy Journal editor William Conant Church and General George Wood Wingate. Its first president was Civil War General Ambrose Burnside, who had worked as a Rhode Island gunsmith, and Wingate was the original secretary of the organization. Church succeeded Burnside as president in the following year.

Union Army records for the Civil War indicate that its troops fired about 1,000 rifle shots for each Confederate soldier hit, causing General Burnside to lament his recruits: “Out of ten soldiers who are perfect in drill and the manual of arms, only one knows the purpose of the sights on his gun or can hit the broad side of a barn.”[12] The generals attributed this to the use of volley tactics, devised for earlier, less accurate smoothbore muskets.[13][14]

Recognizing a need for better training, Wingate traveled to Europe and observed European armies’ marksmanship training programs. With plans provided by Wingate, the New York Legislature funded the construction of a modern range at Creedmore, Long Island, for long-range shooting competitions. Wingate then wrote a marksmanship manual.[12]

After winning the British Empire championship at Wimbledon, London, in 1874, the Irish Rifle Team issued a challenge through the New York Herald to riflemen of the United States to raise a team for a long-range match to determine an Anglo-American championship. The NRA organized a team through a subsidiary amateur rifle club. Remington Arms and Sharps Rifle Manufacturing Company produced breech-loading weapons for the team. Although muzzle-loading rifles had long been considered more accurate, eight American riflemen won the match firing breech-loading rifles. Publicity of the event generated by the New York Herald helped to establish breech-loading firearms as suitable for military marksmanship training, and promoted the NRA to national prominence.[12]

Eight U.S. Presidents have been NRA members. They are Ulysses S. Grant, Theodore Roosevelt, William Howard Taft, Dwight D. Eisenhower, John F. Kennedy, Richard M. Nixon, Ronald Reagan, and George H. W. Bush.[15]

Rifle clubs

The NRA organized rifle clubs in other states, and many state National Guard organizations sought NRA advice to improve members’ marksmanship. Wingate’s markmanship manual evolved into the United States Army marksmanship instruction program.[12] Former President Ulysses S. Grant served as the NRA’s eighth President[16] and General Philip H. Sheridan as its ninth.[17] The U.S. Congress created the National Board for the Promotion of Rifle Practice in 1901 to include representatives from the NRA, National Guard, and United States military services. A program of annual rifle and pistol competitions was authorized, and included a national match open to military and civilian shooters. NRA headquarters moved to Washington, D.C. to facilitate the organization’s advocacy efforts.[12] In 1903, Congress authorized the Civilian Marksmanship Program, which was designed to train civilians who might later be called to serve in the U.S. military.[18] Springfield Armory and Rock Island Arsenal began the manufacture of M1903 Springfield rifles for civilian members of the NRA in 1910.[19]

Lobbying

Along with the president, executive vice president (CEO), and board of directors, the organization’s lobbying division, the Institute for Legislative Action (ILA), is considered a power center of the NRA.[citation needed]

The NRA formed a legislative affairs division in response to debate concerning passage of the 1934 National Firearms Act,[20] the first major gun control legislation in the United States. At the time, the NRA supported the act without studying its impact on the second amendment, and also supported the Gun Control Act of 1968. The two acts created a system to license gun dealers and imposed taxes on the private ownership of machine guns.[21]

In 1975, the NRA created the Institute for Legislative Action to lobby for Second Amendment rights as a complement its core mission of supporting hunting, conservation and marksmanship.

Until the middle 1970s, the NRA had mainly focused on sportsmen, hunters and target shooters, and had downplayed issues of gun control. The 1977 annual convention in Cincinnati would be a defining election for the organization and came to be known as “The Cincinnati Revolution.”[22] At the convention, the leadership had planned an elaborate new headquarters in Colorado, designed to promote sportsmanship and conservation. Within the organization, now existed a group of members whose central concern was Second Amendment rights. Those activists defeated the incumbents in 1977 and elected Harlon Carter as executive director and Neal Knox as head of the ILA.[23][24]

After 1977, the organization expanded its membership by focusing heavily on political issues and forming coalitions with conservative politicians, most of them Republicans.[25] With a goal to weaken the Gun Control Act of 1968, Knox’s NRA successfully lobbied Congress to pass the McClure-Volker firearms decontrol bill of 1986 and worked to reduce the powers of the federal Bureau of Alcohol, Tobacco, Firearms and Explosives. In 1982, Knox was ousted as director of the ILA but began mobilizing outside the NRA framework and continued to promote opposition to gun control laws.[26]

At the 1991 national convention, Knox’s supporters were elected to the board, and named staff lobbyist Wayne LaPierre as the executive vice president. The NRA focused its attention on the gun control policies of the Clinton Administration.[27] Knox again lost power in 1997, as he lost reelection to a coalition of moderate leaders who supported movie star Charlton Heston, despite Heston’s past support of gun control legislation.[28] In 1994, the NRA unsuccessfully opposed the Federal Assault Weapons Ban, but successfully lobbied for the ban’s 2004 expiration.[29] Heston was elected president in 1998 and became a highly visible spokesman for the organization. In an effort to improve the NRA’s image, Heston presented himself as the voice of reason in contrast to Knox.[30]

Safety and sporting programs

NRA firearms safety programs

NRA headquarters in Fairfax, Virginia

The NRA sponsors a range of programs designed to encourage the safe use of firearms. NRA hunting safety courses are offered in the United States for both children and adults. Classes focusing on firearm safety, particularly for women, have become popular. Intended for school-age children, the NRA’s “Eddie Eagle” program encourages the viewer to “Stop! Don’t touch! Leave the area! Tell an adult!” if the child ever sees a firearm lying around.[31] The NRA has also published an instructional guide, called The Basics of Personal Protection In The Home (published in 2000).[32]

Shooting sports

Prior to 1992, the NRA governed shooting sports in the United States.[citation needed] In 1992, USA Shooting replaced the NRA as the national governing body for Olympic shooting, and in 2000, the NRA chose not to be a member of the National Three-Position Air Rifle Council. Additionally, the NRA is not directly involved in the practical pistol competitions conducted by the International Practical Shooting Confederation and International Defensive Pistol Association, or in cowboy action shooting.

The NRA hosts the National Rifle and Pistol Matches at Camp Perry, events which are considered to be the “world series of competitive shooting.”[33] Commonly known as Bullseye or Conventional Pistol, shooters from the military as well as many top-ranked civilians gather annually in July and August for this competition. The NRA also sponsors its National Muzzle Loading Championship at the National Muzzle Loading Rifle Association’s Friendship, Indiana facility. Additionally, the Bianchi Cup, hosted by NRA, is considered among the most lucrative of all the shooting sports tournaments.[citation needed]

The NRA house magazine, American Rifleman, covers major shooting competitions and related topics, and the NRA offers a publication dedicated to competitive shooting, Shooting Sports USA. Most competitive shooters are NRA members.[citation needed] The current NRA competitions division publishes its own rulebooks, maintains a registry of marksmanship classifications, and sanctions matches. The NRA also represents the United States on the International Confederation of Fullbore Rifle Associations (ICFRA),[citation needed] which administers the World Long-Range Rifle Team Championships, contested every four years for the PALMA trophy.

Instructors

The National Rifle Association issues credentials and trains firearm instructors in a variety of disciplines. NRA-credentialed instructors teach marksmanship, maintenance, and legalities.[34] NRA Instructors are commonly found at privately owned firearms ranges, and are often employed by the Boy Scouts of America on their summer camps.[citation needed]

Relationship with other organizations

The National Rifle Association maintains ties with other organizations such as the Boy Scouts of America and 4-H.[35] Involvement includes monetary donations, equipment to supply firearms ranges, and instructors to assist in their programs. Notably, the Boy Scouts of America has strict guidelines on who is allowed to operate their ranges, the recognized personnel groups including NRA Certified Instructors along with military and law enforcement.[36]

The NRA joined the American Civil Liberties Union and several other civil liberties organizations in joint letters to President Clinton on 10 January 1994 and to the House Committee on the Judiciary on 24 October 1995 calling for federal law enforcement reforms drawing on lessons from the Waco siege and Ruby Ridge.[37]

Fundraising and shooting support

Friends of NRA is a grassroots program that raises money for The NRA Foundation, the organization’s 501(c)(3).[38] As part of Friends of NRA activities, volunteers in the United States organize committees and plan events in their communities.

Established in 1990, The NRA Foundation raises tax-deductible contributions in support of a wide range of firearm related public interest activities. These activities are designed to promote firearms and hunting safety, to enhance marksmanship skills of those participating in the shooting sports, and to educate the general public about firearms in their historic, technological and artistic context. Funds granted by The NRA Foundation benefit a variety of constituencies throughout the United States including children, youth, women, individuals with disabilities, gun collectors, law enforcement officers, hunters, and competitive shooters.[39]

Political advocacy

Because the NRA considers gun ownership to be a civil right, the organization calls itself the “largest and oldest civil rights organization in the United States.”[40][41][42][43]

The Institute for Legislative Action (ILA) is the lobbying branch of the National Rifle Association of America.[44] Members of Congress have ranked the NRA as the most powerful lobbying organization in the country several years in a row.[6] Chris W. Cox is the NRA’s chief lobbyist and principal political strategist, a position he has held since 2002. Jim Baker is the head of the federal affairs division at the institute.[45]

In its lobbying for gun rights, the NRA asserts that the Second Amendment guarantees the right of individuals to bear arms. The NRA opposes measures which it believes conflict with the Second Amendment and the right to privacy as it relates to gun owners. Additionally, the organization has invoked the Tenth Amendment to defend gun rights.

Legislation

The NRA currently opposes most new gun-control legislation, calling instead for stricter enforcement of existing laws such as prohibiting convicted felons and violent criminals from possessing firearms and increased sentencing for gun-related crimes. The NRA also advocates for concealed carry in the United States. It also takes positions on non-firearm hunting issues, such as supporting wildlife management programs that allow hunting and opposing restrictions on devices like crossbows and leg hold traps.[citation needed]

The NRA supported the 1934 National Firearms Act (NFA), which regulated what were considered at the time “gangster weapons” such as machine guns, sawed-off shotguns, and silencers.[46][47][48] However, the organization’s position on parts of the act has since changed.[49]

The 1937 Pittman–Robertson Act was passed which put an excise tax on the manufacture of firearms. The Act created an excise tax that provides funds to each state to manage such animals and their habitats.[50][51] Prior to the creation of the Pittman–Robertson Act many species of wildlife were driven to or near extinction by hunting pressure and/or habitat degradation from humans.[50]

The NRA supported the 1938 Federal Firearms Act (FFA) which established the Federal Firearms License (FFL) program. The FFA required all manufacturers and dealers of firearms who ship or receive firearms or ammunition in interstate or foreign commerce to have a license, and forbade them from transferring any firearm or most ammunition to any person interstate unless certain conditions were met.[52] As a practical matter, this did not affect the interstate commerce in firearms or ammunition. It was with the adoption of the Gun Control Act in 1968, which repealed most of the FFA, that the lawful interstate trade of firearms was limited almost entirely to persons holding a federal firearms license.

The NRA supported and opposed parts of the Gun Control Act of 1968, which broadly regulated the firearms industry and firearms owners, primarily focusing on regulating interstate commerce in firearms by prohibiting interstate firearms transfers except among licensed manufacturers, dealers and importers. The law was supported by America’s oldest manufacturers (Colt, S&W, etc.) in an effort to forestall even greater restrictions which were feared in response to recent domestic violence. The NRA supported elements of the law, such as those forbidding the sale of firearms to convicted criminals and the mentally ill.[53][54]

In 2000, when evidence surfaced that the Pittman-Robertson Act sportsman`s conservation trust funds were being mismanaged, NRA board member and sportsman, U.S. Representative Don Young (R-Alaska) introduced the Wildlife and Sport Fish Restoration Programs Improvement Act. The NRA backed bill passed the House 423-2 and became law on Nov. 1, 2000 and defines in what manner the monies can be spent.

In 2004, the NRA opposed renewal of the Federal Assault Weapons Ban of 1994. The ban expired at midnight on September 13, 2004.[55]

In 2005 President Bush signed into law the NRA backed Protection of Lawful Commerce in Arms Act which prevent firearms manufacturers and dealers from being held liable for negligence when crimes have been committed with their products.[56]

The NRA-backed Disaster Recovery Personal Protection Act of 2006 prohibited the confiscation of legal firearms from citizens during states of emergency.[57]

In 2012, following the Sandy Hook Elementary School shooting, the NRA called on the United States Congress to appropriate funds for a “National School Shield Program,” under which armed police officers would protect students in every U.S. school.[58][59] The NRA also announced the creation of a program that would advocate for best practices in the areas of security, building design, access control, information technology, and student and teacher training.[59][60][61][62]

Lawsuits

In 2005, the NRA, the Second Amendment Foundation (SAF), and others successfully sued New Orleans Mayor Ray Nagin and others to stop gun seizures in the wake of Hurricane Katrina.[63][64][65][66][67][68] On October 4, 2006, U.S. President George W. Bush signed into law the Disaster Recovery Personal Protection Act.

In November 2005, the NRA and other gun advocates filed a lawsuit challenging San Francisco Proposition H, which banned the ownership and sales of firearms. The NRA argued that the citizen-passed proposition overstepped local government authority and intruded into an area regulated by the state. The San Francisco County Superior Court agreed with the NRA position.[69] The city appealed the court’s ruling, but lost a 2008 appeal.[70] In October 2008, San Francisco was forced to pay a $380,000 settlement to the National Rifle Association and other plaintiffs to cover the costs of litigating Proposition H.[71]

After a 2008 ruling (District of Columbia v. Heller) by the U.S. Supreme Court that affirmed the individual right to own a handgun, the NRA has participated in lawsuits contesting such legislation.[72]

In 2009 the NRA filed suit again (Guy Montag Doe v. San Francisco Housing Authority) in the city of San Francisco challenging the city’s ban of guns in public housing. On January 14, 2009, the San Francisco Housing Authority reached a settlement with the NRA, which allows residents to possess legal firearms within a SFHA apartment building.[73]

In 2010, the NRA sued the city of Chicago, Illinois (McDonald v. Chicago) and the Supreme Court ruled that like other substantive rights, the right to bear arms is incorporated via the Fourteenth Amendment to the Bill of Rights, and therefore applies to the states.[74][75]

The NRA supported the case of Brian Aitken, a New Jersey resident sentenced to seven years in state prison for transporting guns without a carry permit.[76] The organization’s Civil Rights Defense Fund helped to pay Brian Aitken’s legal bills.[77] On December 20, 2010, Governor Chris Christie granted Aitken clemency and ordered Aitken’s immediate release from prison.[78]

Endorsements

The NRA’s policy is that it will endorse any incumbent politician who supports its positions, even if the challenger supports them as well. For example, in the 2006 Senate Elections the NRA endorsed Rick Santorum over Bob Casey, Jr. even though they both had an “A” rating from the NRA Political Victory Fund, because Santorum was the incumbent.[79]

The NRA endorsed a presidential candidate for the first time in 1980 backing Ronald Reagan over Jimmy Carter.[80][81]

During the 2008 presidential campaign, the NRA spent $10 million in opposition of the election of then Senator Barack Obama.[82]

Publications

The NRA publishes a number of periodicals including [83] American Rifleman,[84] American Hunter, Shooting Illustrated, America’s 1st Freedom and Shooting Sports USA. They have also published a collection of firearms titles through its affiliate Palladium Press LLC.

Current leadership and policies

The National Rifle Association is governed by a seventy-six member[85] board of directors. There are seventy-five elected Directors that each serve a three year term. One director, the seventy-sixth, is elected to serve as a cross-over Director and “holds office from the adjournment of the Annual Meeting of Members at which [this person] was elected until the adjournment of the next Annual Meeting of Members, or until a successor is elected and qualified.”

The directors choose the President, one or more Vice Presidents, and the Executive Vice President (the leading spokesman for the organization), along with a Secretary, and Treasurer from among the elected Directors. Additionally two other officers are elected by the Board of Directors, the Executive Director of the National Rifle Association General Operations and the Executive Director of the National rifle Association Institute for Legislative Action (NRA-ILA).

Charlton Heston served famously as president from 1997 to 2003, and David Keene is the current president, replacing Ron Schmeits who served 2009–2011. John C. Sigler served 2007–2009. Sandra Froman served 2005–2007. Marion P. Hammer was the first female president, serving from 1995 to 1998.[86]

The organization’s executive vice president functions as chief executive officer. Wayne LaPierre has held this position since 1991. Chris W. Cox is the executive director of the NRA’s lobbying branch, the Institute for Legislative Action. Cox has been appointed by LaPierre every year since 2002. Kayne Robinson is executive director of general operations.[87]

Finances and organizational structure

The NRA is a 501(c)(4) membership association with four 501(c)(3) charitable subsidiaries and a Section 527 Political Action Committee separate segregated fund. The NRA’s four charities are NRA Civil Rights Defense Fund, NRA Foundation Inc., NRA Special Contribution Fund (dba NRA Whittington Center), and NRA Freedom Action Foundation.[1]

According to published statements,[1] the NRA’s total income for 2011 was $218,983,530, with total expenditures of $231,071,589. In 2010, the organization reported an income of $227.8 million with roughly $115 million in revenue generated from fundraising, sales, advertising and royalties, with the remainder originating from membership dues.[88] Corporate sponsors include a variety of companies such as outdoors supply, sporting goods companies, and firearm manufacturers.[88][89]

Since 2005, the organization has received at least $14.8 million from more than 50 firearms-related firms[88] In 2008, Beretta exceeded $2 million in donations to the NRA, and in 2012, Smith & Wesson reached $1 million.[90] According to an April 2012 press release, Sturm, Ruger & Company raised $1.25 million through a program in which it donated $1 to the ILA for each gun it sold from May 2011 to May 2012.[90]

In 2010, one of the organization’s tax exempt 501(c)3 groups, the NRA Foundation, distributed $12.6 million to the NRA itself, and gave a further $5.5 million to local organizations such as 4-H and shooting clubs. The NRA Foundation has no staff and pays no salaries.[88][90]

The NRA also raises a portion of its revenues through “round-up” programs, in which gun buyers and participating stores are invited to “round up” the purchase price to the nearest dollar as a voluntary contribution. According to the NRA’s 2010 tax forms, the “round-up” funds have been allocated to both public interest programs and lobbying.[90]

Public opinion

In six out of seven surveys conducted by Gallup since 1993, the majority of Americans reported holding a favorable opinion of the National Rifle Association. A Gallup survey conducted in December 2012 found that 54% of Americans held a favorable opinion of the NRA, with Republicans responding significantly more positively about the organization than Democrats.[91] A Reuters/Ipsos poll conducted in April 2012 found that 82% of Republicans and 55% of Democrats see the NRA “in a positive light.”[5][92][93]

Criticism

The NRA is criticized by groups advocating for gun control such as Americans for Gun Safety, Brady Campaign, Coalition to Stop Gun Violence, and Million Mom March. Some newspaper editorial boards like the New York Times,[94] Washington Post, Los Angeles Times, USA Today, and the Pittsburgh Post-Gazette[95] have also criticized the NRA’s positions.

Members of the U.S. Democratic Party and liberal commentators have frequently criticized the National Rifle Association’s policies. However, on occasion, politicians in the U.S. Republican Party and conservative commentators have also criticized the organization.[96][97][98] In 1969, U.S. President Richard M. Nixon resigned his “Honorary Life Membership” to the NRA. In 1995, former U.S. President George H. W. Bush also resigned his life membership to the organization after LaPierre sent him a letter that labeled agents of the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF), “jack-booted government thugs”. The NRA later apologized for the letter’s language.[99] After the 2012 Sandy Hook shooting, New Jersey Governor Chris Christie called an online video created by the NRA “reprehensible” and said that it “demeans” the organization.[100] Jim Baker, a senior lobbyist for the organization, later characterized the video as “not particularly helpful” and “ill-advised.”[101]

The NRA has been criticized by other gun rights groups for doing too little to get existing restrictions repealed. Organizations such as Gun Owners of America (GOA) and Jews for the Preservation of Firearms Ownership (JPFO) have at times disagreed with NRA for what they perceive as its willingness to compromise on legislation that would restrict access to firearms.[102]

Notable members

In its history, the NRA has had numerous notable members and officers from a variety of professions. Among these people are eight Presidents of the United States, two Vice President of the United States, two Chief Justices of the U.S. Supreme Court, and several U.S. Congressmen, as well as legislators and officials of state governments.[103] Past presidents of the association include Ambrose Burnside, U.S. President Ulysses S. Grant, Charlton Heston, and General Philip H. Sheridan. Other notables include Olympian Karl Frederick, actress Whoopi Goldberg, civil rights activist Roy Innis, actor James Earl Jones, President John F. Kennedy, singer Miranda Lambert, NBA player Karl Malone, screen writer John Milius, President Richard Nixon, actor Chuck Norris, musician Ted Nugent, Governor Sarah Palin, President Ronald Reagan, President Theodore Roosevelt, and actor Tom Selleck.[104][105]

See also

  • Gun politics in the United States
    • Second Amendment to the United States Constitution
    • Concealed carry
  • Gun safety
  • Hunting
Brazil
  • Viva Brazil Movement
Canada
  • Dominion of Canada Rifle Association
  • Canada Firearms Centre
  • Canadian gun registry
  • Gun politics in Canada
  • Possession and Acquisition Licence
Philippines
  • PROGUN
Spain
  • National Arms Association of Spain (ANARMA)
Switzerland
  • ProTell

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  76. ^ “Freed New Jersey Man Wants Gun Conviction Overturned”. Fox News. 2010-12-23.
  77. ^ http://briandaitken.com/content/2011/01/BrianAitken-NRA.jpg
  78. ^ “NJ Gov. Chris Christie commutes Aitken’s sentence”. The Daily Caller. 2010-12-20. Retrieved 2012-04-19.
  79. ^ “Post-gazette.com”. Post-gazette.com. 2006-10-25. Retrieved 2012-04-19.
  80. ^ SCHMIDT, GINA M. “100 YEARS: REMEMBERING PRESIDENT RONALD REAGAN”. http://www.nraila.org. Retrieved 2 February 2013.
  81. ^ Facts on File 1980 Yearbook, p.844
  82. ^ Eunice Moscoso, “NRA campaign against Obama carries $10 million price tag,” Palm Beach Post, October 21, 2008)
  83. ^ NRA Publications as of 2009.
  84. ^ American Rifleman website.
  85. ^ The National Rifle Association of America Bylaws. Article IV, S. 1a: NRA. 2012. p. 12.
  86. ^ Marion P. Hammer, NRAWinningTeam.com
  87. ^ “National Rifle Association Announces New Officers and Board Members”. NRAILA. 2009-05-19. Retrieved 2010-11-21.
  88. ^ a b c d Peter Robison and John Crewdson. “NRA Raises $200 Million as Gun Lobby Toasters Burn Logo on Bread”. Bloomberg.com. Retrieved 2013-01-30.
  89. ^ Greene, Jeremy. “Friends of NRA Industry Supporter directory”. http://www.friendsofnra.org. Retrieved 2 February 2013.
  90. ^ a b c d “Do Assault Weapons Sales Pay NRA Salaries?”. FactCheck.org. January 15, 2013.
  91. ^ Newport, Frank. “NRA Has 54% Favorable Image in U.S. – Republicans most positive about NRA; Democrats most negative”. Gallup. Retrieved 2013-02-02.
  92. ^ Clement, Scott. “Everything you need to know about Americans’ views on guns — in 7 easy steps”. Washington Post. Retrieved 2013-02-02.
  93. ^ “Gun control takes a back seat to the economy, the deficit and taxes”. Washington Post. Retrieved 2013-02-02.
  94. ^ “The Gun Lobby’s Loss”. The New York Times. December 2, 2008. Retrieved 2008-12-03.
  95. ^ “NRA nonsense: LaPierre speaks for gun makers, not gun owners”. Pittsburgh Post-Gazette. Retrieved 2013-01-03.
  96. ^ “Bloomberg Throws Punch at NRA, Obama: Bloomberg says NRA “encourages behavior that causes things like Connecticut” shooting”. ABC News. Retrieved 2013-01-25.
  97. ^ ROBILLARD, KEVIN. “Frank Luntz: NRA not listening to public”. Politico. Retrieved 2013-01-03.
  98. ^ Poor, Jeff. “Ann Coulter rails against NRA’s Wayne LaPierre”. The Daily Caller. Retrieved 2013-01-03.
  99. ^ “NRA Apologizes for ‘Jack Boot’ Letter” Seattle Times (AP) 05/18/95 http://community.seattletimes.nwsource.com/archive/?date=19950518&slug=2121718
  100. ^ Knox, Olivier. “Christie: NRA ad with Obama daughters ‘reprehensible'”. Yahoo! News. Retrieved 2013-01-19.
  101. ^ Cornwell, Susan. “Exclusive: NRA senior lobbyist says attack ad was “ill-advised””. Reuters. Retrieved 2013-01-25.
  102. ^ “A Letter From Larry Pratt To The Directors Of The NRA”. Gunowners.org. Retrieved 2010-11-21.
  103. ^ The National Rifle Association of America Bylaws. Inside front cover, organization summary: NRA. 2012.
  104. ^ Coleman, Christina. “Gun Show: Guess Which Celebrities Are NRA Members? Read more: http://globalgrind.com/news/celebrity-nra-members-photos#ixzz2QbLg4YxV”. Global Grind. Retrieved 16 April 2013.
  105. ^ Shropshire, Terry. “Celebrity members of the NRA gun group”. Rollingout.com. Retrieved 16 April 2013.

Further reading

  • Anderson, Jack. Inside the NRA: Armed and Dangerous. Beverly Hills, Calif.: Dove, 1996. ISBN 0-7871-0677-1.
  • Brennan, Pauline Gasdow, Alan J. Lizotte, and David McDowall. “Guns, Southernness, and Gun Control”. Journal of Quantitative Criminology 9, no. 3 (1993): 289–307.
  • Bruce, John M., and Clyde Wilcox, eds. The Changing Politics of Gun Control. Lanham, Maryland: Rowman and Littlefield, 1998. ISBN 0-8476-8614-0, ISBN 0-8476-8615-9.
  • Carter, Gregg Lee, ed. Guns in American Society: An Encyclopedia of History, Politics, Culture, and the Law (3rd ed. 2012) excepr and text search
  • Carter, Gregg Lee. Gun Control in the United States: A Reference Handbook (2006) 408pp
  • Davidson, Osha Gray. Under Fire: The NRA and the Battle for Gun Control, 2nd ed. Iowa City: University of Iowa Press, 1998. ISBN 0-87745-646-1.
  • Edel, Wilbur. Gun Control: Threat to Liberty or Defense against Anarchy? Westport, Conn.: Praeger Publishers, 1995. ISBN 0-275-95145-6.
  • Feldman, Richard. Ricochet: Confessions of a Gun Lobbyist (John Wiley, 2011) excerpt and text search
  • Goss, Kristin A. Disarmed: The Missing Movement for Gun Control in America (Priceton Studies in American Politics) (2008) excerpt and text search
  • Langbein, Laura I., and Mark A. Lotwis, “Political Efficacy of Lobbying and Money: Gun Control in the U.S. House, 1986”. Legislative Studies Quarterly 15 (August 1990): 413–40.
  • LaPierre, Wayne R. Guns, Crime, and Freedom. Washington, D.C.: Regnery, 1994. ISBN 0-89526-477-3.
  • McGarrity, Joseph P., and Daniel Sutter. “A Test of the Structure of PAC Contracts: An Analysis of House Gun Control Votes in the 1980s”. Southern Economic Journal, Vol. 67 (2000).
  • Melzer, Scott. Gun Crusaders: The NRA’s Culture War (New York University Press, 2009) 336 pp. online
  • Raymond, Emilie. From My Cold, Dead Hands: Charlton Heston and American Politics (2006) excerpt and text search
  • Spitzer, Robert J. The Politics of Gun Control, 2nd ed. New York: Chatham House Publishers, 1998. ISBN 1-56643-072-0.
  • Sugarmann, Josh. National Rifle Association: Money, Firepower, and Fear. Washington, D.C.: National Press Books, 1992. ISBN 0-915765-88-8.
  • Trefethen, James B., and James E. Serven. Americans and Their Guns: The National Rifle Association Story Through Nearly a Century of Service to the Nation. Harrisburg, Penn.: Stackpole Books, 1967.
  • Utter, Glenn H., ed. Encyclopedia of Gun Control and Gun Rights. Phoenix, Ariz.: Oryx Press, 2000. ISBN 1-57356-172-X. online, 378pp
  • Winkler, Adam. Gunfight: The Battle over the Right to Bear Arms in America (2011) excerpt and text search

Gunshow Loophole MYTH and Other Piers Morgan LIES

Obama calls Senate gun vote “shameful”

Obama: Gun lobby ‘willfully lied’

Barack Obama Speaks After Gun Control Fails in the Senate 

GOP Sen. Toomey- Background Checks Are Not ‘Gun Control,’ They’re ‘Common Sense’

Senators propose US gun control compromise

Wayne LaPierre On Whether NRA Supports Universal Background Checks At Gun Shows: ‘We Do Not’

Uncle Ted Cruz: ‘The Gun Show Loophole(Background Check) Doesn’t Exist’

 

What Gun Show Loophole?

The so called “gun show loophole” does not exist (I set the record straight)

Sore Loser – Sen. Feinstein After Losing Gun legislation states there will be no background checks

Dianne Feinstein’s amendment to reinstate assault weapons ban fails

Just after the U.S. Senate voted down a measure Wednesday afternoon to expand background checks for gun buyers, it also voted against California Senator Dianne Feinstein’s amendment to reinstate an assault weapons ban.

Feinstein’s amendment had not been expected to pass. In fact, Senate Majority Leader Harry Reid (D-NV) knew weeks ago there weren’t enough votes for the assault weapons ban, so he removed it from the main gun control bill.

The final vote on Feinstein’s amendment was 60-40 against passage.

Feinstein issued this statement after Tuesday’s vote:

            “I’m disappointed by today’s vote, but I always knew this was an uphill battle. I believe the American people are far ahead of their elected officials on this issue, and I will continue to fight for a renewed ban on assault weapons.

“The very fact that we’re debating gun violence on the Senate floor is a step in the right direction, and I hope my colleagues vote their conscience and approve the underlying bill. But I’m certain that in the coming months and years, we will be forced to confront by other incidents like Newtown, where innocents are murdered with one of these weapons of war.

“I will carry on this fight against military-style assault weapons, and I ask of the American people that they continue to pressure their elected officials to take action. It’s long overdue that we take serious steps to remove these dangerous firearms and high-capacity ammunition magazines from society.”

Feinstein’s original assault weapons ban was in place from 1994-2004. An attempt to extend it in 2004 failed. Feinstein vowed to resume her fight after mass shootings in Colorado and Connecticut.

In a recent speech to San Francisco’s Commonwealth Club, Feinstein said: “This is a lifetime pursuit for me. If I can’t get it done this time, there will be another time.”

Just after the U.S. Senate voted down a measure Wednesday afternoon to expand background checks for gun buyers, it also voted against California Senator Dianne Feinstein’s amendment to reinstate an assault weapons ban.

Feinstein’s amendment had not been expected to pass. In fact, Senate Majority Leader Harry Reid (D-NV) knew weeks ago there weren’t enough votes for the assault weapons ban, so he removed it from the main gun control bill.

The final vote on Feinstein’s amendment was 60-40 against passage.

Feinstein issued this statement after Tuesday’s vote:

            “I’m disappointed by today’s vote, but I always knew this was an uphill battle. I believe the American people are far ahead of their elected officials on this issue, and I will continue to fight for a renewed ban on assault weapons.

“The very fact that we’re debating gun violence on the Senate floor is a step in the right direction, and I hope my colleagues vote their conscience and approve the underlying bill. But I’m certain that in the coming months and years, we will be forced to confront by other incidents like Newtown, where innocents are murdered with one of these weapons of war.

“I will carry on this fight against military-style assault weapons, and I ask of the American people that they continue to pressure their elected officials to take action. It’s long overdue that we take serious steps to remove these dangerous firearms and high-capacity ammunition magazines from society.”

Feinstein’s original assault weapons ban was in place from 1994-2004. An attempt to extend it in 2004 failed. Feinstein vowed to resume her fight after mass shootings in Colorado and Connecticut.

In a recent speech to San Francisco’s Commonwealth Club, Feinstein said: “This is a lifetime pursuit for me. If I can’t get it done this time, there will be another time.”

http://www.scpr.org/blogs/politics/2013/04/17/13349/dianne-feinstein-s-amendment-to-reinstate-assault/

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Peter Schiff: The Coming Economic Collapse — Videos

Posted on April 16, 2013. Filed under: Banking, Blogroll, Books, Business, College, Communications, Demographics, Diasters, Economics, Education, Federal Government, Federal Government Budget, Fiscal Policy, Macroeconomics, Microeconomics, Monetary Policy, Money, Tax Policy | Tags: , , , , , , , |

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Peter Schiff, Europe is the Warm Up, but America is the Main Event

Peter Schiff – Get Out Now Get Out Of The Dollar

Lou Dobbs versus Peter Schiff

Doug Casey interviews Peter Schiff

Cyprus Is Small, But The Problem Is Enormous

Coming Economic Collapse – Peter Schiff RT America

Peter Schiff Debates Doug Henwood on stimulus deficit spending

Economic Collapse Not Only Possible But IMMINENT w Peter Schiff…

CNBC’s Joe Kernen Talks About Peter Schiff? (Pompous Blowhard, Bad Jacket, Bad Market Calls…)

Peter Schiff – The Fed Unspun: The Other Side of the Story

 

Schiff: 2/3 of America to Lose Everything Because of This Crisis

A record breaking stock market is distorting a frightening reality:  The U.S. is being eaten alive by a horrific cancer that will ultimately destroy the economy and impoverish the vast majority of its citizens.

That’s according to Peter Schiff, the best-selling author and CEO of Euro Pacific Capital, who delivered his harsh warning to investors in a recent interview on Fox Business.

“I think we are heading for a worse economic crisis than we had in 2007,” Schiff said.  “You’re going to have a collapse in the dollar…a huge spike in interest rates… and our whole economy, which is built on the foundation of cheap money, is going to topple when you pull the rug out from under it.”

Schiff says that, despite “phony” signs of an economic recovery, the cancer destroying America stems from a lethal concoction of our $16 trillion federal debt and the Fed’s never ending money printing.

Currently, Bernanke and company is buying $1 trillion of Treasury and mortgage bonds a year. That’s about $85 billion per month against a budget deficit that is about the same level.

According to Schiff, these numbers are unsustainable. And the Fed has no credible “exit strategy.”

Eventually interest rates will rise… and when they do, Schiff says, stocks will tank and bonds dip to nothing. Massive new tax hikes will be imposed and programs and entitlements will be cut to the bone.

“The crisis is imminent,” Schiff said.  “I don’t think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems.”

“We’re broke, Schiff added.  “We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.”

Schiff points out that the market gains experienced recently, with the Dow first topping 14,000 on its way to setting record highs, are giving investors a false sense of security.

“It’s not that the stock market is gaining value… it’s that our money is losing value. And so if you have a debased currency… a devalued currency, the price of everything goes up. Stocks are no exception,” he said.

“The Fed knows that the U.S. economy is not recovering,” he noted. “It simply is being kept from collapse by artificially low interest rates and quantitative easing. As that support goes, the economy will implode.”

noted economist, Schiff has been a fierce critic of the Fed and its policies for years. And his warnings have proven to be prophetic.

In August 2006, when the Dow was hitting new highs nearly every day, Schiff said in an interview: “The United States is like the Titanic, and I’m here with the lifeboat trying to get people to leave the ship… I see a real financial crisis coming for the United States.”

Just over a year later, the meltdown that became the Great Recession began, just as Schiff predicted.

He also predicted the subprime mortgage bubble burst, nearly a year before the real estate market fully crashed.

His recent warnings, however, have been even more alarming.  Will they also prove to be true?

In his most recent book, “The Real Crash” How to Save Yourself and Your Country“, Schiff writes that
when the “real crash” comes,” it will be worse than the Great Depression.

Unemployment will skyrocket, credit will dry up, and worse, the dollar will collapse completely, “wiping out all savings and sending consumer prices into the stratosphere.”

http://moneymorning.com/ob-article/schiff-us-will-win-currency-war.php?code=3243#.UW3kh6OPBBk

 

 

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Bill Bonner and Addison Wiggin — A Financial Reckoning Day Fallout: Surviving Today’s Global Depression — Videos

Posted on April 15, 2013. Filed under: American History, Babies, Banking, Blogroll, Books, Business, College, Communications, Demographics, Diasters, Economics, Education, Employment, Federal Government, Federal Government Budget, Fiscal Policy, Foreign Policy, government, government spending, history, History of Economic Thought, Investments, Law, liberty, Life, Links, Literacy, Macroeconomics, Math, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Psychology, Public Sector, Raves, Security, Tax Policy, Taxes, Unemployment, Unions, Video, War, Wealth, Wisdom | Tags: , , , , , , , |

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An Empire of Debt Leading to a “Crack-up” in the Global Monetary System w/Bill Bonner!

Bill Bonner  ZURICH.MINDS INTERVIEW

Bill Bonner: Uncharted Territory –

Emerging Market Real Estate, The Most Promising Asset Class: An Interview with Bill Bonner

Bill Bonner at The Equitymaster Investment Summit 2010

Bill Bonner: Enterprise Under Attack Part 1 – July 24

Bill Bonner: Enterprise Under Attack Part 2 – July 24

Bill Bonner:  Enterprise Under Attack Part 3 – July 24

Addison Wiggin / Financial Reckoning Day Fallout on FOX Business News

Addison Wiggin on an Empire of Debt and the Mother of all Bubbles (Part 1) 

Addison Wiggin on an Empire of Debt and the Mother of all Bubbles (Part 2) 

Related Posts On Pronk Palisades

Dr. Lacy Hunt–Roadblocks To Recovery — The Economic Consequences of Debt — Heading Towards The Bang Point — “This is how the world ends not with a bang but a whimper.” — Videos

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Terrorists Bomb Boston Marathon Finish Line — 3 Dead, 180 Injured With Two Bombs — April 15, 2013 — Updated — Photos and Videos

Posted on April 15, 2013. Filed under: American History, Blogroll, Bomb, Business, Communications, Crime, Diasters, history, Law, liberty, Life, Links, media, People, Philosophy, Politics, Psychology, Rants, Raves, Religion, Running, Security, Sports, Talk Radio, Terrorism, Video, Weapons | Tags: , , , , , , , , , , , , , , , , |

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Second Bomb Goes Off With Fire Ball in Background

Marathon Runner Brought Down By First Bomb

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APTOPIX Boston Marathon Explosions

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Ambulances line the street after explosions reportedly interrupted the running of the 117th Boston Marathon in Bostonlens_crafters

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APTOPIX Boston Marathon-Explosions

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Martin Richard, 8-year-old killed in bombing, one of three

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Martin Richard, right, killed, his mother, Denise, injured required brain surgery, sister Jane, lost leg, father, Bill ran in marathon

My dear son Martin has died from injuries sustained in the attack on Boston. My wife and daughter are both recovering from serious injuries.

‘We thank our family and friends, those we know and those we have never met, for their thoughts and prayers. I ask that you continue to pray for my family as we remember Martin. We also ask for your patience and for privacy as we work to simultaneously grieve and recover. Thank you.’

Martin_Richard, right, with his family, mother was criticallyl injured, jane lost leg

Krystal Campbell killed in bombing, one of three

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‘My daughter was the most lovable girl,’ her father, William Campbell Jr. said. ‘She helped everybody, and I’m just so shocked right now. We’re just devastated. She was a wonderful, wonderful girl. Always willing to lend a hand.’

Another, unnamed victim was also killed in the blasts.

Third person killed was  Lingzi Lu, a Chinese National graduate student at Boston University.

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Explosions at the Boston Marathon

Boston Marathon Moment Of Bomb Explosion Raw Footage (AMAZING FOOTAGE) NEW!

Moment Of Boston Marathon Blast

Boston Marathon Explosions Video: Two Bombs Near Finish Line

Bombs Explode At Boston Marathon “Raw Footage”

Boston Marathon explosion caught on camera

Finish Line Boston Marathon after explosion (second explosion seen in background)

Runner captures Boston Marathon explosion

BREAKING NEWS: Two Bombs explode at Boston Marathon 2013

Aftermath to explosion at Boston Marathon

BREAKING NEWS Terrorist Attack, BOMB BLASTS Boston Marathon.

Boston Marathon Bombs Explode 2013

Terrorist attack the Boston Marathon

Boston Marathon explosion: Moment of second blast caught on video 

Boston Marathon explosion caught on tape

BOSTON BOMBING Anti-Government, Patriot_ Bomber? Fox News Makes Case For _Right-Wing

RAW FOOTAGE: Terrorism Strikes Boston Marathon As Bombs Explode 2013

Deadly Boston Marathon explosions a terror attack – FBI

2013 Boston Marathon Terrorist Attacks Over 100 Injured And 2 Dead Including 8yo Child

Boston Marathon Explosions: Several Injuries Reported After Bombings Near Race’s Finish Line 

Explosions at Boston Marathon

Boston Marathon Explosion – Runners recount bomb explosion

Boston Marathon explosions: witnesses describe chaos and fear on streets

Obama Speaks On Bombing At Boston Marathon

Boston Marathon Explosions: Police Detail Three Blasts in City

Boston Marathon Attact – An Al Qaeda Publication Last Month Describe Scenario Like Boston!

Boston Marathon Explosion 2013 – MA Authorities Statements (Immediately after Explosion)

Third victim was a B.U. grad student

FBI recovers black nylon, nails from blast site

8-year-old boy dies after greeting father at finish

Mother of marathon attack victim speaks

A Horrific Day in Boston

Boston Marathon Bomb Maybe Packed in Pressure Cooker

Boston bombs put inside pressure cookers

Boston Bombs Were In PRESSURE COOKERS – Hidden In Black Duffel Bags

Listen to initial police radio traffic from Boston explosions. Raw video of blasts at Marathon. 2 dead & more than 50 hurt.

Boston marathon bombs were pressure cooker IEDs packed with ball-bearings: Devices that killed three, including eight-year-old boy waiting for his runner dad are used by terrorists in Afghanistan

  • Pressure-cooker bombs were packed with shards of metal, nails and ball bearings
  • Devices are frequently used in Afghanistan, India, Nepal and Pakistan, according to Homeland Security
  • An al-Qaeda magazine last year listed U.S. sporting events as one of ‘the most important enemy targets’
  • An eight-year-old boy and a 29-year-old woman were among the three killed in the attack
  • 176 people injured, at least 17 of them in critical condition and ‘a lot’ of amputations have been performed
  • Surgeons describe numerous severe injuries from ‘pellets, shrapnel or nails from inside the bombs’
  • Investigators do not know of motive for the bombs or who is behind them but are questioning ‘many people’
  • Obama vows to bring bombers to justice: ‘The American people will not be terrorized’

Read more: http://www.dailymail.co.uk/news/article-2309545/Boston-bombings-2013-Devices-killed-including-Martin-Richard-Krystle-Campbell-used-terrorists-Afghanistan.html#ixzz2Qfc73HKd
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Latest from AP:

Two bombs exploded near the crowded finish line of the Boston Marathon on Monday, killing two people and injuring more than 50 others in a terrifying scene of broken glass, smoke and severed limbs, authorities said.

A third blast rocked the John F. Kennedy Library a few miles away and more than an hour later, but no injuries were reported, the police commissioner said. A senior U.S. intelligence official said two other explosive devices were found near the marathon finish line.

There was no word on the motive or who may have launched the attack, and authorities in Washington said there was no immediate claim of responsibility.

The twin blasts at the race took place almost simultaneously and about 100 yards apart, tearing limbs off numerous people, knocking spectators and at least one runner off their feet, shattering windows and sending smoke rising over the street.

As people wailed in agony, bloody spectators were carried to a medical tent that had been set up to care for fatigued runners.

“They just started bringing people in in with no limbs,” said Tim Davey, of Richmond, Va. He said he and his wife, Lisa, tried to keep their children’s eyes shielded from the gruesome scene.

“They just kept filling up with more and more casualties,” Lisa Davey said. “Most everybody was conscious. They were very dazed.”

Some 27,000 runners took part in the 26.2-mile race, one of the world’s premier marathons and one of Boston’s biggest annual events.

After the explosions, cellphone service was shut down in the area to prevent any possible remote explosive detonations, a law enforcement official said. The official spoke on condition of anonymity because the investigation was ongoing.

Boston Police Commissioner Edward Davis asked people to stay indoors or go back to their hotel rooms and avoid crowds as bomb squads checked parcels and bags left along the race route.

The Federal Aviation Administration barred low-flying aircraft from within 3.5 miles of the site.

President Barack Obama was briefed on the explosions by Homeland Security adviser Lisa Monaco. Obama also told Mayor Tom Menino and Gov. Deval Patrick that his administration would provide whatever support was needed, the White House said.

“There are people who are really, really bloody,” said Laura McLean, a runner from Toronto, who was in the medical tent being treated for dehydration when she was pulled out to make room for victims.

About two hours after the winners crossed the line, there was a loud explosion on the north side of Boylston Street, just before the photo bridge that marks the finish line. Another explosion could be heard a few seconds later.

The Boston Police Department said two people were killed. Hospitals reported at least 57 injured, at least eight of them critically.

A senior U.S. intelligence official said the two other explosive devices found nearby were being dismantled. The official spoke on condition of anonymity because he was not authorized to discuss the findings publicly.

Competitors and race volunteers were crying as they fled the chaos. Authorities went onto the course to carry away the injured while race stragglers were rerouted away from the smoking site.

Roupen Bastajian, a 35-year-old state trooper from Smithfield, R.I., had just finished the race when they put the heat blanket wrap on him and he heard the blasts.

“I started running toward the blast. And there were people all over the floor,” he said. “We started grabbing tourniquets and started tying legs. A lot of people amputated. … At least 25 to 30 people have at least one leg missing, or an ankle missing, or two legs missing.”

Smoke rose from the blasts, fluttering through the national flags lining the route of the world’s oldest and most prestigious marathon. TV helicopter footage showed blood staining the pavement in the popular shopping and tourist area known as the Back Bay.

Cherie Falgoust was waiting for her husband, who was running the race.

“I was expecting my husband any minute,” she said. “I don’t know what this building is … it just blew. Just a big bomb, a loud boom, and then glass everywhere. Something hit my head. I don’t know what it was. I just ducked.”

Runners who had not finished the race were diverted straight down Commonwealth Avenue and into a family meeting area, according to an emergency plan that had been in place.

The Boston Marathon honored the victims of the Newtown, Conn., shooting with a special mile marker in Monday’s race.

Boston Athletic Association president Joanne Flaminio previously said there was “special significance” to the fact that the race is 26.2 miles long and 26 people died at Sandy Hook Elementary school.

___

Associated Press writers Jay Lindsay, Steve LeBlanc and Meghan Barr in Boston and Lara Jakes and Eileen Sullivan in Washington contributed to this report.

Two bombs rock Boston Marathon, at least two killed, dozens hurt

By Scott Malone and Svea Herbst-Bayliss

Two bombs ripped through the crowd at the finish line of the Boston Marathon on Monday, killing two people and injuring dozens in what a White House official said would be handled as an “act of terror.”

President Barack Obama promised to hunt down whoever was responsible for the attack on a day when tens of thousands of spectators pack the streets to watch the world-famous race.

Many runners were heading for the finish when a fireball and smoke rose from behind cheering spectators and a row of flags representing the countries of participants, video from the scene showed.

The cheers turned to screams and panic.

“It sounded like a sonic boom. I haven’t stopped shaking yet,” said Melissa Stanley, who watched her daughter cross the finish line four minutes before the explosions.

Ambulances, fire trucks and dozens of police vehicles converged at the scene, and spectators could be seen crying and consoling each other.

The dead included an 8-year-old boy, the Globe reported, citing two law enforcement sources briefed on the investigation.

“I saw people who looked like they had their legs blown off. There was a lot of blood over their legs. Then people were being pushed in wheelchairs,” said Joe Anderson, 33, a fisherman from Pembroke, Massachusetts, who had just run the race holding a large U.S. flag.

The blasts put police on alert in major cities across the United States, including in Washington, D.C. and New York City, sites of the September 11, 2001 hijacked plane attacks.

Four Boston area-hospitals contacted by Reuters reported a total of at least 67 hurt. Some of those may have been hospitalized for treatment from running the marathon. The Boston Globe newspaper reported that more than 100 people were hurt.

Two high-level U.S. law enforcement officials, who declined to be identified, said one or more bombs caused the explosions at the scene of the marathon, which is run annually on the state holiday Patriots’ Day.

“These were powerful devices that resulted in serious injury,” Boston Police Commissioner Ed Davis told reporters.

About an hour after the 2:50 p.m. EDT (1850 GMT) blasts in Boston’s Copley Square marred the usually joyous end to the marathon, a fire erupted at the John F. Kennedy Presidential Library three miles away, but no one was injured, police said. Authorities were uncertain whether the fire was related, Davis said.

In Washington, Obama told reporters, “Make no mistake, we will get to the bottom of this and we will find out who did this.”

He said “any responsible individuals, any responsible groups will feel the full weight of justice.”

No suspect was in custody. The U.S. Federal Bureau of Investigation, Justice Department, Homeland Security Department and other agencies were all investigating, authorities said.

“EVIL, EVIL, EVIL”

Runners from the marathon and others went to the Massachusetts General Hospital offering to donate blood.

“This was evil, evil, evil,” said Kevin Garboit, 46, from the hospital lobby, asking staff if he could donate blood. He was told to come back Tuesday morning.

Without knowing who perpetrated the attack, the White House said it was handling the incident as “an act of terror.”

“Any event with multiple explosive devices – as this appears to be – is clearly an act of terror, and will be approached as an act of terror,” a White House official said.

The two explosions were about 50 to 100 yards (meters) apart as runners crossed the finish line with a timer showing 4 hours and 9 minutes, some 9 minutes faster than the average finish time, as reported by Runner’s World magazine.

Of the 23,326 runners who started the race on Monday, 17,584 finished before the blast, marathon officials said. Runners were diverted before officials brought the marathon to a halt.

Spectators typically line the 26.2 mile race course, with the heaviest crowds near the finish line.

Mike Mitchell of Vancouver, Canada, a runner who had finished the race, said he was looking back at the finish line and saw a “massive explosion.”

Smoke rose 50 feet in the air, Mitchell said. People began running and screaming after hearing the noise, Mitchell said.

“Everybody freaked out,” Mitchell said.

The Boston Marathon has been held on Patriots’ Day, the third Monday of April, since 1897. The event, which starts in Hopkinton, Massachusetts and ends in Boston’s Copley Square, attracts an estimated half-million spectators and some 20,000 participants every year.

The Boston Symphony Orchestra cancelled Monday night’s concert and the National Hockey League’s Boston Bruins canceled their home game against the Ottawa Senators. The Boston Red Sox had completed their Major League Baseball game at Fenway Park before the explosions.

Earlier on Monday, Ethiopia’s Lelisa Desisa and Kenya’s Rita Jeptoo won the men’s and women’s events, continuing African runners’ dominance in the sport.

http://www.reuters.com/article/2013/04/15/us-athletics-marathon-boston-blast-idUSBRE93E0ZF20130415

2 killed, dozens injured in blasts near Boston Marathon finish line

Emergency crews responding to Boylston Street  incident

Two people were killed and more than 100 people were injured Monday when two  bombs exploded near the finish line of the Boston Marathon.

We’ve had a horrific  attack here in Boston this afternoon,” Gov. Deval Patrick said.

The blasts happened about  15 seconds apart at 2:50 p.m. near the intersection of Boylston and Exeter  streets. Officials described the bombs as “small, portable devices.”

Dozens of people were  injured, including  a 2-year-old boy, who was being treated at Boston  Children’s Hosptial for a head injury.

AFT agents with automatic  weapons were seen entering Brigham and Women’s Hospital several hours after the  blasts.

ABC News reported  officials were questioning a person at the hospital in connection with the  bombs, however Boston Police Commissioner Ed Davis said there were no suspects  in custody.

“All Americans stand with  the people of Boston,” President Barack Obama said. “We still do not know who  did this or why. Make no mistake — we will get to the bottom of this. We will  find out who did this. We will find out why they did this.”

Sen. Dianne Feinstein,  chairman of Intelligence Committee, told ABC News “It is a terrorist  incident.”

“It could be foreign, it  could be home grown,” Feinstein said. She said the incident has all the  “hallmarks” of a terrorist attack.

Read more: http://www.wcvb.com/news/local/metro/2-killed-dozens-injured-in-blasts-near-Boston-Marathon-finish-line/-/11971628/19757044/-/13xg6eaz/-/index.html#ixzz2QZo5YNZi

TERROR BOMBING at Boston Marathon — 2 Dead, 60-Plus Wounded

UPDATE 6:54 p.m. — The Red Cross has announced it does not need more blood donations. 


UPDATE 6:50 p.m. — The JFK Library fire is extinguished.

UPDATE 6:35 p.m. — AP is reporting two dead, 80 wounded.


UPDATE 6:34 p.m. — One of the deceased is an 8-year-old boy.

UPDATE 6:17 p.m. — Speaking live on Fox news: House Homeland Security Chairman Mike McCaul says he’s hearing ball bearings were used in the two explosive devices that detonated almost simultaneously at the Boston Marathon finish line.


UPDATE 6:13 p.m. — Obama is addressing the nation. “We still do not know who did this or why; but make no mistake, we will get to the bottom of this.” …. “We will find out who did this, and we will hold them accountable.”


UPDATE 5:59 p.m.  — Via Boston and Massachusetts officials speaking in live press conference on WBZ: Ed Davis, Boston police commissioner, says it’s unclear whether the incident at Umass’ JFK Library was just a fire or was an incendiary device. It’s unknown if it’s tied to the two explosions at the marathon finish line.  There is “no suspect” in the bombings.


UPDATE 5:50 p.m. — President Obama is scheduled to address the nation at 6:10 p.m. EST.


UPDATE 5:31 p.m. — Via Talking Points Memo: Boston PD says NY Post is wrong about the death toll and the Saudi “suspect” in the hospital. No suspects in custody.


UPDATE 5:21 p.m. — Via scanner: Beth Israel Deaconess Hospital on Francis Street reports a military-style duffle bag in the ER. The National Guard bomb squad is on the way.


UPDATE 5:02 p.m. —  Via NY Times: All cell phone in Boston will be disabled to prevent remote detonations.


UPDATE 5:01 p.m. — Via scanner: A black male in a black hoodie with a backpack was spotted trying to enter a gated area. He was turned away and was operating an iPad. This was 5 minutes before the bombing.


UPDATE 4:51 p.m. New York Post reports suspect is a Saudi national.


UPDATE 4:49 p.m. — Via scanner: FBI is searching for a yellow Penske truck.

http://www.heavy.com/news/2013/04/boston-marathon-bomb-explosion/

Terrorist Attacks in the U.S. or Against  Americans

The following timeline lists terrorist attacks against the United States and  Americans living either in the U.S. or abroad.

1920
Sept. 16, New York City: TNT bomb planted in       unattended horse-drawn wagon exploded on Wall Street opposite House of     
Morgan, killing 35 people      and  injuring hundreds more. Bolshevist or anarchist terrorists believed       responsible, but crime never solved.
1975
Jan. 24, New York City: bomb set off in historic      Fraunces Tavern killed 4      and injured more  than 50 people. Puerto Rican nationalist group (FALN)      claimed  responsibility, and police tied 13 other bombings to the      group.
1979
Nov. 4, Tehran, Iran: Iranian radical students      seized  the U.S. embassy, taking 66 hostages. 14 were later released. The      remaining  52 were freed after 444 days on the day of President Reagan’s       inauguration.
1982–1991
Lebanon: Thirty US and other Western hostages       kidnapped in Lebanon by Hezbollah. Some were killed, some died in       captivity, and some were eventually released. Terry Anderson was held      for  2,454 days.
1983
April 18, Beirut, Lebanon: U.S. embassy destroyed      in  suicide car-bomb attack; 63 dead, including 17 Americans. The Islamic      Jihad  claimed responsibility.
Oct. 23, Beirut, Lebanon: Shiite suicide bombers       exploded truck near U.S. military barracks at Beirut airport, killing      241  marines. Minutes later a second bomb killed 58 French paratroopers      in their  barracks in West Beirut.
Dec. 12, Kuwait City, Kuwait: Shiite truck bombers       attacked the U.S. embassy and other targets, killing 5 and injuring       80.
1984
Sept. 20, east Beirut, Lebanon: truck bomb exploded       outside the U.S. embassy annex, killing 24, including 2 U.S.      military.
Dec. 3, Beirut, Lebanon: Kuwait Airways Flight 221,       from Kuwait to Pakistan, hijacked and diverted to Tehran. 2 Americans       killed.
1985
April 12, Madrid, Spain: Bombing at restaurant       frequented by U.S. soldiers, killed 18 Spaniards and injured 82.
June 14, Beirut, Lebanon: TWA Flight 847 en route      from  Athens to Rome hijacked to Beirut by Hezbollah terrorists and held      for 17  days. A U.S. Navy diver executed.
Oct. 7, Mediterranean Sea: gunmen attack Italian       cruise ship, Achille Lauro. One U.S. tourist killed. Hijacking       linked to Libya.
Dec. 18, Rome, Italy, and Vienna, Austria: airports      in  Rome and Vienna were bombed, killing 20 people, 5 of whom were      Americans.  Bombing linked to Libya.
1986
April 2, Athens, Greece:A bomb exploded aboard TWA       flight 840 en route from Rome to Athens, killing 4 Americans and      injuring  9.
April 5, West Berlin, Germany: Libyans bombed a      disco  frequented by U.S. servicemen, killing 2 and injuring      hundreds.
1988
Dec. 21, Lockerbie, Scotland: N.Y.-bound Pan-Am      Boeing  747 exploded in flight from a terrorist bomb and crashed into      Scottish  village, killing all 259 aboard and 11 on the ground.      Passengers included  35 Syracuse University students and many U.S.      military personnel. Libya  formally admitted responsibility 15 years      later (Aug. 2003) and offered  $2.7 billion compensation to victims’      families.
1993
Feb. 26, New York City: bomb exploded in basement       garage of World Trade Center,      killing 6  and injuring at least 1,040 others. In 1995, militant Islamist      Sheik Omar  Abdel Rahman and 9 others were convicted of conspiracy      charges, and in  1998, Ramzi Yousef, believed to have been the      mastermind, was convicted of  the bombing. Al-Qaeda involvement is      suspected.
1995
April 19, Oklahoma City: car bomb exploded outside       federal office building, collapsing wall and floors. 168 people were       killed, including 19 children and 1 person who died in rescue effort.      Over  220 buildings sustained damage. Timothy  McVeigh and      Terry Nichols later convicted in the antigovernment plot to  avenge the      Branch Davidian standoff in Waco, Tex., exactly 2 years earlier.  (See      Miscellaneous  Disasters.)
Nov. 13, Riyadh, Saudi Arabia: car bomb exploded at       U.S. military headquarters, killing 5 U.S. military servicemen.
1996
June 25, Dhahran, Saudi Arabia: truck bomb exploded       outside Khobar Towers military complex, killing 19 American servicemen      and  injuring hundreds of others. 13 Saudis and a Lebanese, all alleged      members  of Islamic militant group Hezbollah,  were      indicted on charges relating to the attack in June 2001.
1998
Aug. 7, Nairobi, Kenya, and Dar es Salaam,      Tanzania:  truck bombs exploded almost simultaneously near 2      U.S. embassies, killing  224 (213 in Kenya and 11 in Tanzania) and      injuring about 4,500. 4 men  connected with al-Qaeda 2 of whom had      received training at al-Qaeda  camps      inside Afghanistan, were       convicted of the killings in May 2001 and later sentenced to life in       prison. A federal grand jury had indicted 22 men in connection with the       attacks, including Saudi dissident Osama bin Laden,      who remained at  large.
2000
Oct. 12, Aden, Yemen: U.S. Navy destroyer USS      Cole heavily damaged when a small boat loaded with explosives      blew  up alongside it. 17 sailors killed. Linked to Osama  bin Laden,      or members of al-Qaeda      terrorist  network.
2001
Sept. 11, New York City,  Arlington, Va., and Shanksville,          Pa.: hijackers crashed 2  commercial jets into twin      towers of World Trade Center; 2 more hijacked  jets were crashed into the      Pentagon and a field in rural Pa. Total dead and  missing numbered      2,9921: 2,749 in New York City, 184  at the      Pentagon, 40 in Pa., and 19 hijackers. Islamic al-Qaeda terrorist  group      blamed. (See September  11, 2001: Timeline of      Terrorism.)
2002
June 14, Karachi, Pakistan: bomb explodes outside       American consulate in Karachi, Pakistan, killing 12. Linked to       al-Qaeda.
20031
May 12, Riyadh, Saudi Arabia: suicide bombers kill      34,  including 8 Americans, at housing compounds for Westerners. Al-Qaeda       suspected.
2004
May 29–31, Riyadh, Saudi Arabia: terrorists      attack the  offices of a Saudi oil company in Khobar, Saudi Arabia, take      foreign oil  workers hostage in a nearby residential compound, leaving 22      people dead  including one American.
June 11–19, Riyadh, Saudi Arabia: terrorists      kidnap  and execute Paul Johnson Jr., an American, in Riyadh, Saudi      Arabia. 2 other  Americans and BBC cameraman killed by gun attacks.
Dec. 6, Jeddah, Saudi Arabia: terrorists storm the       U.S. consulate, killing 5 consulate employees. 4 terrorists were killed      by  Saudi security.
2005
Nov. 9, Amman, Jordan: suicide bombers hit 3      American  hotels, Radisson, Grand Hyatt, and Days Inn, in Amman, Jordan,      killing 57.  Al-Qaeda claimed responsibility.
2006
Sept. 13, Damascus, Syria: an attack by four gunman      on  the American embassy is foiled.
2007
Jan. 12, Athens, Greece: the U.S. embassy is fired      on  by an anti-tank missile causing damage but no injuries.
Dec. 11, Algeria: more than 60 people are killed,       including 11 United Nations staff members, when Al Qaeda terrorists       detonate two car bombs near Algeria’s Constitutional Council and the      United  Nations offices.
2008
May 26, Iraq: a suicide bomber on a motorcycle      kills  six U.S. soldiers and wounds 18 others in Tarmiya.
June 24, Iraq: a suicide bomber kills at least 20       people, including three U.S. Marines, at a meeting between sheiks and       Americans in Karmah, a town west of Baghdad.
June 12, Afghanistan: four American servicemen are       killed when a roadside bomb explodes near a U.S. military vehicle in      Farah  Province.
July 13, Afghanistan: nine U.S.soldiers and at      least  15 NATO troops die when Taliban militants boldly attack an      American base in  Kunar Province, which borders Pakistan. It’s the most      deadly against U.S.  troops in three years.
Aug. 18 and 19, Afghanistan: as many as 15 suicide       bombers backed by about 30 militants attack a U.S. military base, Camp       Salerno, in Bamiyan. Fighting between U.S. troops and members of the       Taliban rages overnight. No U.S. troops are killed.
Sept. 16, Yemen: a car bomb and a rocket strike the       U.S. embassy in Yemen as staff arrived to work, killing 16 people,       including 4 civilians. At least 25 suspected al-Qaeda militants are       arrested for the attack.
Nov. 26, India: in a series of attacks on several      of  Mumbai’s landmarks and commercial hubs that are popular with      Americans and  other foreign tourists, including at least two five-star      hotels, a  hospital, a train station, and a cinema. About 300 people are      wounded and  nearly 190 people die, including at least 5 Americans.
2009
Feb. 9, Iraq: a suicide bomber kills four American soldiers  and their Iraqi translator near a police checkpoint.
April 10, Iraq: a suicide attack kills five American  soldiers and two Iraqi policemen.
June 1, Little Rock, Arkansas: Abdulhakim Muhammed, a  Muslim convert from Memphis, Tennessee, is charged with shooting two soldiers  outside a military recruiting center. One is killed and the other is wounded. In  a January 2010 letter to the judge hearing his case, Muhammed asked to change  his plea from not guilty to guilty, claimed ties to al-Qaeda, and called the  shooting a jihadi attack “to fight those who wage war on Islam and  Muslims.”
Dec. 25: A Nigerian man on a flight from Amsterdam to  Detroit attempted to ignite an explosive device hidden in his underwear. The  explosive device that failed to detonate was a mixture of powder and liquid that  did not alert security personnel in the airport. The alleged bomber, Umar Farouk  Abdulmutallab, told officials later that he was directed by the terrorist group  Al Qaeda. The suspect was already on the government’s watch list when he  attempted the bombing; his father, a respected Nigerian banker, had told the  U.S. government that he was worried about his son’s increased extremism.
Dec. 30, Iraq: a suicide bomber kills eight Americans  civilians, seven of them CIA agents, at a base in Afghanistan. It’s the  deadliest attack on the agency since 9/11. The attacker is reportedly a double  agent from Jordan who was acting on behalf of al-Qaeda.
2010
May 1, New York City: a car bomb is discovered in Times  Square, New York City after smoke is seen coming from a vehicle.  The bomb was  ignited, but failed to detonate and was disarmed before it could cause any harm.  Times Square was evacuated as a safety precaution.  Faisal Shahzad pleads guilty  to placing the bomb as well as 10 terrorism and weapons charges.
May 10, Jacksonville, Florida: a pipe bomb explodes while  approximately 60 Muslims are praying in the mosque. The attack causes no  injuries.
Oct. 29: two packages are found on separate cargo planes.  Each package contains a bomb consisting of 300 to 400 grams (11-14 oz) of  plastic explosives and a detonating mechanism. The bombs are discovered as a  result of intelligence received from Saudi Arabia’s security chief. The  packages, bound from Yemen to the United States, are discovered at en route  stop-overs, one in England and one in Dubai in the United Arab Emirates.
2011
Jan. 17, Spokane, Washington: a pipe bomb is discovered  along the route of the Martin Luther King, Jr. memorial march. The bomb, a  “viable device” set up to spray marchers with shrapnel and to cause multiple  casualties, is defused without any injuries.

2012Sept. 11, Benghazi, Libya: militants armed with  antiaircraft weapons and rocket-propelled grenades fire upon the American  consulate, killing U.S. ambassador to Libya Christopher Stevens and three other  embassy officials. U.S. secretary of state Hillary Clinton said the U.S.  believed that Al Qaeda in the Islamic Maghreb, a group closely linked to Al  Qaeda, orchestrated the attack.2013Feb. 1, Ankara, Turkey: Ecevit Sanli detonates a bomb near  a gate at the U.S. Embassy. Sanli dies after detonating the bomb. One Turkish  guard is also killed. Didem Tuncay, a respected television journalist, is  injured in the blast. Unlike the bombing at the embassy in Benghazi last  September, the U.S. government immediately calls the bombing a terrorist attack.  According to Turkish officials, the attack is from the Revolutionary People’s  Liberation Party, which has been labeled a terrorist organization by the U.S.  and other nations.

See also U.S.-Designated Foreign  Terrorist    Organizations; Suspected  al-Qaeda Terrorist Acts.

1. On Oct. 29, 2003, New York officials     reduced the number of people killed at the World Trade Center in the     September 11, 2001, terrorist attacks on the United States by 40 names.    The  list of casualties dropped to 2,752 from 2,792 for a variety of    reasons: some  people initially reported missing have been found, there    were duplicate  names, there was no proof that a person was at the World    Trade Center that  day, and because of fraud. On January 2004, the number    was reduced by 3 more  to 2,749.

Read more:  Terrorist Attacks in the U.S. or Against Americans | Infoplease.com http://www.infoplease.com/ipa/A0001454.html#ixzz2QaN1nfWc

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Democratic Controlled U.S. Senate Fiscal Year 2014 Budget for the Federal Government — Videos

Posted on April 14, 2013. Filed under: American History, Banking, Blogroll, Business, Climate, College, Communications, Demographics, Diasters, Economics, Education, Employment, Energy, Enivornment, Farming, Federal Government, Federal Government Budget, Fiscal Policy, Food, Foreign Policy, government, government spending, history, Homes, Immigration, Inflation, Investments, Language, Law, liberty, Life, Links, Literacy, Macroeconomics, media, Microeconomics, Monetary Policy, Money, People, Philosophy, Politics, Private Sector, Psychology, Public Sector, Rants, Raves, Regulations, Tax Policy, Taxes, Technology, Unemployment, Unions, Video, War, Wealth, Weapons, Wisdom | Tags: , , , , , , , , , , , , , , , |

Senate-Budget-Committee-Chair-Patty-Murray-via-AFPThe-Presidents-Fiscal-Year-2014-Budget-proposal-is-delivered-to-the-Senate-Budget-Committee_10_1The Hosue Budget Committee releases it's FY2014 Budget in Washington

Paul Ryan Questions OMB Director – President’s Fiscal Year 2014 Budget Request

Sessions: Obama’s Persistent Budget Misrepresentations Make Compromise More Difficult

‘When Do We Hold People Accountable?’ Sessions Slams Dems For Falsely Claiming ‘Balance’ To Nation

WASHINGTON, March 22—Throughout the course of the budget debate, Democratic Senators have repeatedly suggested their budget contains a “balanced approach,” a rhetorical description that has no accounting value. (Sen. Sheldon Whitehouse (D-RI) went even further last night and repeatedly said his party’s plan called for “balancing the budget.”)

But as Sen. Sessions pointed out this morning, “They know they don’t have a balanced budget. They won’t tell the American people they don’t have one. They just use the word. But it’s not in their document. Where and when do we hold people accountable in this United States Senate for an accurate [description] of legislation? It’s wrong.”

To view for yourself the budget tables with the Democrats’ own numbers (in other words, before one even begins to strip out all the gimmicks and accounting tricks), please click here: http://1.usa.gov/YwdsbM. Note that cumulative deficits will amount to $5.198 trillion, and the nation’s gross debt will climb to $24.365 trillion by 2023.

Dem Senators On Budget Committee Unanimously Oppose Balancing The Federal Budget

Hatch on Senate Democrats’ Budget: ‘A Cynical Political Document’

Senator King Discusses 2014 Fiscal Year Budget Blueprint

Sessions: Dem Budget Would Trap Millions In Poverty By Shielding Failed Government Programs

 Senate Budget Committee Hearing | 4.10.13 | Chairman Murray Opening Remarks

Chairman Murray Kicks Off Senate Budget Resolution Debate with Speech on Senate Floor

Foundation for Growth: Restoring the Promise of American Opportunity

U.S. Senate Budget Committee

Senate Budget Committee Chairman Patty Murray unveils her vision for the Fiscal Year 2014 Senate Budget resolution.

For more information: http://www.budget.senate.gov/democrat­ic

Portman Remarks at Senate Budget Committee Markup 

Hatch: Entitlement Reform Not an Option, a Necessity

Background Articles and Videos

Making the Federal Budget

How do you spend four trillion dollars? Turns out, you don’t; it takes the President and the Congress to allocate, authorize, appropriate, resolve, outlay, sequester, impound, and just plain spend that much in 2011. Such a process is baffling at times. It’s so complex that you may marvel that Washington can get any action accomplished and paid for at all. So how does the federal budget happen?

Join the Mercatus Center’s Capitol Hill Campus and Senior Research Fellow Jason J. Fichtner for a walk through the process of making the federal budget. He explains the process from its beginnings in the halls of the White House, highlight the many roles Congress takes to authorize and enforce the budget, and navigate the twisting, puzzling conglomeration of bureaucratic steps, political goals, and accountancy rules that go into making our government function.

Changing the Budget Process to Promote Fiscal Responsibility

A Sustainable Approach to Entitlement Reform 

Foundation for Growth: Restoring the Promise of American Opportunity

The Fiscal Year 2014 Senate Budget builds on the work done over the last two years to create jobs, invest in broad-based economic growth, and tackle our deficit and debt responsibly.

This budget takes the balanced and responsible approach to our fiscal challenges that every bipartisan group has endorsed and that the American people support. It includes responsible spending cuts made across the federal budget, as well as significant new savings achieved by eliminating loopholes and cutting wasteful spending in the tax code that benefits the wealthiest Americans and biggest corporations.

The Senate Budget is grounded in the understanding that our country’s long-term fiscal and economic goals will only be met with policies that support a strong and growing middle class. And it keeps the promises we have made to our seniors, our families, and our communities.

The American people are sick and tired of watching their government lurch from crisis to crisis. The Senate Budget offers a serious and credible path away from this gridlock and dysfunction and toward a long-term plan to create jobs, lay down a strong foundation for broad-based economic growth, replace sequestration, and tackle our deficit and debt responsibly and credibly.

This budget reflects the values of a diverse Senate serving a diverse nation, and it is guided by the principles and priorities that are strongly supported by the constituents we were elected to represent

http://www.budget.senate.gov/democratic/index.cfm/senatebudget

 

Foundation for Growth: Restoring the Promise of American Opportunity

The Fiscal Year 2014 Senate Budget builds on the work done over the last two years to create jobs, invest in broad-based economic growth, and tackle our deficit and debt responsibly.

This budget takes the balanced and responsible approach to our fiscal challenges that every bipartisan group has endorsed and that the American people support. It includes responsible spending cuts made across the federal budget, as well as significant new savings achieved by eliminating loopholes and cutting wasteful spending in the tax code that benefits the wealthiest Americans and biggest corporations.

The Senate Budget is grounded in the understanding that our country’s long-term fiscal and economic goals will only be met with policies that support a strong and growing middle class. And it keeps the promises we have made to our seniors, our families, and our communities.

The American people are sick and tired of watching their government lurch from crisis to crisis. The Senate Budget offers a serious and credible path away from this gridlock and dysfunction and toward a long-term plan to create jobs, lay down a strong foundation for broad-based economic growth, replace sequestration, and tackle our deficit and debt responsibly and credibly.

This budget reflects the values of a diverse Senate serving a diverse nation, and it is guided by the principles and priorities that are strongly supported by the constituents we were elected to represent.

The highest priority of the Senate Budget is to create the conditions for job creation, economic growth, and prosperity built from the middle out, not the top down.

The Senate Budget takes the position that trickle-down economics has failed as an economic policy and that true national prosperity comes from the middle out, not the top down. We believe that deficit reduction at the expense of economic growth is doomed to failure, and policies that promote a strong middle class are essential to tackling our long-term deficit and debt challenges.

The policies President Barack Obama and Congress put in place in response to the Great Recession pulled our economy back from the brink and helped to add back jobs. But with an unemployment rate that remains stubbornly high, and a middle class that has seen their wages stagnate for far too long, we simply cannot afford any threats to our fragile recovery. Therefore, the Senate Budget:

• Fully replaces the harmful cuts from sequestration with smart, balanced, and responsible deficit reduction, which would save hundreds of thousands of jobs while protecting families, communities, and the fragile economic recovery.

• Invests in long-term economic growth and national competitiveness by tackling our serious deficits in infrastructure, education, job training, and innovation to create jobs now and lay down a strong foundation for broad-based growth.

2

• Includes a $100 billion targeted jobs and infrastructure package that would start creating new jobs quickly, begin repairing the worst of our crumbling roads and bridges, and help train our workers to fill 21

st century jobs. This jobs investment package is fully paid for by eliminating loopholes and cutting wasteful spending in the tax code that benefits the wealthiest Americans and biggest corporations.

• Protects and continues tax cuts for the middle class and low-income working families.

The Senate Budget builds on the work we have done over the last two years to tackle our deficit and debt responsibly.

At the end of 2010, the bipartisan Simpson-Bowles Commission report laid out a responsible goal of reducing our deficit by $4 trillion over ten years. Since that time, Congress and the administration have implemented $2.4 trillion in deficit reduction, with $1.8 trillion coming from spending cuts and $600 billion coming from new revenue from the wealthiest Americans. The Senate Budget:

• Surpasses the bipartisan goal of $4 trillion in 10-year deficit reduction and puts our deficit and debt on a downward, sustainable, and responsible path.

• Builds on the $2.4 trillion in deficit reduction already done with an additional $1.85 trillion in new deficit reduction for a total of $4.25 trillion in deficit reduction since the Simpson-Bowles report.

• Includes an equal mix of responsible spending cuts and new revenue raised by closing loopholes and ending wasteful spending in the tax code.

• Achieves $975 billion in deficit reduction through responsible spending cuts made across the federal budget:

o

$493 billion saved on the domestic spending side, including $275 billion in health care savings made in a way that does not harm seniors or families.

 

o

$240 billion saved by carefully and responsibly cutting defense spending to align with the drawdown of troops in our overseas operations.

 

o

$242 billion saved in reduced interest payments.

• Achieves $975 billion in deficit reduction by closing loopholes and eliminating wasteful spending in the tax code that benefits the wealthiest Americans and biggest corporations.

• Includes reconciliation instructions, a fast-track process that makes sure that the new revenue from the wealthiest Americans and biggest corporations cannot be filibustered in the Senate.

3

The Senate Budget keeps the promises we have made to our seniors, families, veterans, and communities.

The Senate Budget takes the position that the promises we made to our seniors, families, veterans, and communities ought to be fulfilled. This budget:

• Preserves and protects Medicare so that it is strong for seniors today and will be there for our children and grandchildren.

• Rejects calls to dismantle, privatize, or voucherize Medicare.

• Builds on the responsible changes made in the Affordable Care Act to continue reducing health care costs while protecting patients.

• Protects the expansion of health insurance to nearly 30 million Americans and ensures the federal-state partnership on Medicaid is preserved.

• Rejects efforts to simply shift health care costs to states or make cuts that harm seniors and the most vulnerable families.

• Maintains the key principle that deficit reduction should not be done on the backs of the most vulnerable families and communities.

• Continues to make the investments we need in national defense, homeland security, and law enforcement to keep our country and our communities strong and secure.

• Keeps the promise we have made to our veterans that their country will be there for them and provide the resources and support they need when they come home.

The House Republican approach would hurt middle class families and the economy and break the promises we have made to our seniors.

The Senate Budget offers a very different vision than the approach taken by House Republicans.

Their proposals would cut the legs out from under our fragile economic recovery and threaten millions of jobs. They would slash the investments in infrastructure, education, and innovation that we need to lay down a strong foundation for broad-based growth and that would position us to compete and win in the 21

st century global economy.

House Republicans would dismantle Medicare and cut off programs that support the middle class and most vulnerable families. And they would do all that while refusing to ask the wealthiest Americans and biggest corporations to contribute their fair share.

We believe that the American people strongly support the pro-growth, pro-middle class approach taken in the Senate Budget. And we look forward to engaging with families and seniors across the country as we work to pass the responsible, fair, and bipartisan budget deal the American people expect and deserve.

April 2013
March 2013

The following timetable is used to guide the federal budget process each year (see 2. U.S.C. 631)

Date Action
1st Monday in February President’s budget submission (includes OMB sequester preview report and adjustments to spending caps).
February 15 CBO budget and economic outlook report
Within 6 weeks of President’s budget Committees submit views and estimates to the Budget Committees
April 1 Senate Budget Committee reports resolution
April 15 Congress completes budget resolution. If not, Chairman of House Budget Committee files 302(a) allocations; Ways and Means is free to proceed with pay-as-you-go measures
May 15 Appropriations bills may be considered in the House
June 10 House Appropriations reports last bill
June 15 Congress completes action on reconciliation reconciliation (if applicable)
June 30 House completes action on annual appropriation bills
July 15 President submits mid-session review
October 1

Fiscal year begins

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Appropriations Act: A statute, under the jurisdiction of the House and Senate Appropriations Committees, that generally provides authority for Federal agencies to incur obligations and to make payments out of the Treasury for specified purposes. An appropriation act is the most common means of providing budget authority. Currently, there are 13 regular appropriations acts for each fiscal year. From time to time, Congress also enacts supplemental appropriations acts. (See Appropriations under Budget Authority; Continuing Resolution; Supplemental Appropriation.)

Authorizing Committee: A committee of the House or Senate with legislative jurisdiction over laws that set up or continue the operations of Federal programs and provide the legal basis for making appropriations for those programs. Authorizing committees also have direct control over spending for mandatory programs since the Government’s obligation to make payments for such program is contained in the authorizing legislation (See Entitlement.)

Authorizing Legislation: Legislation enacted by Congress that sets up or continues the operation of a Federal program or agency indefinitely or for a specific period of time. Authorizing legislation may limit the amount of budget authority which can be appropriated for a program or may authorize the appropriation of “such sums as are necessary.” (See Budget Authority; Entitlement.)

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Backdoor Spending: (See Direct Spending or Mandatory Spending.)

Budget Authority: The authority Congress gives to Government agencies, permitting them to enter into obligations which will result in immediate or future outlays.

Budget authority may be classified in several ways. It may be classified by the form it takes: appropriations, borrowing authority, or contract authority. Budget authority may also be classified by the determination of amount: definite authority or indefinite authority. Finally budget authority may be classified by the period of availability: 1-year authority, multi-year authority, or no-year authority (available until used).

Forms of Budget Authority

Appropriations.–An act of Congress that permits Federal agencies to incur obligations and to make payments out of the Treasury for specified purposes. An appropriations act is the most common means of providing budget authority.

Borrowing Authority.–Statutory authority that permits a Federal agency to incur obligations and to make payments for specified purposes out of money borrowed from the Treasury, the Federal Financing Bank, or the public. The Budget Act in most cases requires that new authority to borrow must be approved in advance in an appropriation act.

Contract Authority.–Statutory authority that permits a Federal agency to enter into contracts in advance of appropriations. Under the Budget Act, most new authority to contract must be approved in advance in an appropriation act. Offsetting collections and receipts.–Income from the public which is displayed in the budget as negative budget authority. (See Offsetting Collections and Offsetting Receipts.

Budget Baseline: Projected Federal spending, revenue and deficit levels based on the assumption that current policies will continue unchanged for the upcoming fiscal year.

In determining the budget baseline under Gramm-Rudman-Hollings, the Directors of OMB and CBO estimate revenue levels and spending levels for entitlement programs based on continuation of current laws. For estimating discretionary spending amounts (both defense and non- defense), the Directors assume an adjustment for inflation (GNP deflator) added to the previous year’s discretionary spending levels. The baseline also includes sufficient appropriations to cover a Federal pay comparability raise (without absorption).

Budget Deficit: The amount by which the Government’s total outlays exceed its total revenues for a given fiscal year. (See Outlays; Revenues.)

Budget Resolution: A concurrent resolution passed by both Houses of Congress setting forth, reaffirming, or revising the congressional budget for the U.S. Government for a fiscal year. A budget resolution is a concurrent resolution of Congress. Concurrent resolutions do not require a presidential signature because they are not laws. Budget resolutions do not need to be laws because they are a legislative device for the Congress to regulate itself as it works on spending and revenue bills.

(Unified) Budget Surplus: The amount by which the Government’s revenues exceed its outlays for a given fiscal year. The “on-budget surplus” excludes spending and revenues of the Social Security Trust Fund, and the Postal Service. (See Outlays; Revenues.)

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Capital Budget: A budget that segregates capital spending from all other spending, what is usually considered the “operating budget.” In a capital budget, spending and receipts in the capital budget are excluded from the operating budget and are not included in the operating budget’s deficit or surplus calculations. A capital budget would include spending only for capital assets. Capital assets are usually defined to be limited to land, structures, equipment, and intellectual property that are owned and used by the Federal government and have a useful life of more than 2 years. However, some proponents of capital budgeting have suggested that capital should be defined to include Federal “investment” spending that yields long-term benefits. President Clinton established a Commission to Study Capital Budgeting by issuing Executive Order 13037 on March 3, 1997. The Commission is required to issue its report by December 17, 1998.

Congressional Budget: (See Budget Resolution.)

Continuing Resolution: Appropriations legislation enacted by Congress to provide temporary budget authority for Federal agencies to keep them in operation when their regular appropriation bill has not been enacted by the start of the fiscal year. A continuing resolution is a joint resolution, which has the same legal status as a bill.

A continuing resolution frequently specifies a maximum rate at which obligations may be incurred, based on the rate of the prior year, the President’s budget request, or an appropriation bill passed by either or both chambers of Congress. However, there have been instances when Congress has used a continuing resolution as an omnibus measure to enact a number of appropriation bills.

A continuing resolution is a form of appropriation act and should not be confused with the budget resolution.

Credit Authority: Authority to incur direct loan obligations or to incur primary loan guarantee commitments. Under the Budget Act, new credit authority must be approved in advance in an appropriation act.

Crosswalk: Also known as “committee allocation” or “section 302 allocation.” The means by which budget resolution spending totals are translated into binding guidelines with respect to budget authority and outlays for committee action on spending bills. The Budget Committees allocate the budget resolution totals among the committees by jurisdiction, Crosswalk allocations of budget authority and outlays to the committee appear in the joint explanatory statement accompanying a conference report on the budget resolution.

Current Services Budget: A section of the President’s budget, required by the Budget Act, that sets forth the level of spending or taxes that would occur if existing programs and policies were continued unchanged through the fiscal year and beyond, with all programs adjusted for inflation so that existing levels of activity are maintained. (See Baseline.)

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Deferral of Budget Authority: An action by the executive branch that delays the obligation of budget authority beyond the point it would normally occur. Pursuant to the Congressional Budget and Impoundment Control Act of 1974, the President must provide advanced notice to the Congress of any proposed deferrals. A deferral may not extend beyond the end of the fiscal year in which the President’s message proposing the deferral is made. Congress may overturn a deferral by passing a law disapproving the deferral.

Deficit: The amount by which the government’s total budget outlays exceeds its total receipts for a fiscal year.

Direct Spending: A term defined in the Budget Enforcement Act of 1990 to include entitlement authority, the food stamp program, and budget authority provided in law other than appropriations acts. From the perspective of the appropriations process, all direct spending is classified as mandatory as opposed to discretionary spending. New direct spending is subject to pay-as-you-go requirements. Direct spending is synonymous with mandatory spending. (See Mandatory Spending and Entitlement.)

Discretionary Spending: A category of spending (budget authority and outlays) subject to the annual appropriations process. (See Appropriations Acts.)

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Entitlement: Programs that are governed by legislation in a way that legally obligates the Federal government to make specific payments to qualified recipients. Payments to persons under the Social Security, Medicare, and veterans’ pensions programs are considered to be entitlements. (See Direct Spending and Mandatory Spending.)

Emergency Spending: As provided in the Budget Enforcement Act, a provision of legislation designated as an emergency by both the President and the Congress. As a result, this additional spending is not subject to the discretionary caps or the pay go requirements and thus will not cause a sequester. In addition, emergency legislation is effectively exempt from Budget Act points of order.

There is no specific criteria in the law for emergency spending. However, the following criteria were contained in a June 1991 report prepared by the Office of Management and Budget–as required by Pub. L. No. 102-55 for the determination of whether to designate spending as an emergency spending:

Necessary expenditure.–an essential or vital expenditure, not one that is merely useful or beneficial;

Sudden.–quickly coming into being, not building up over time;

Urgent.–pressing and compelling need requiring immediate action;

Unforseen.–not predictable or seen beforehand as a coming need (an emergency that is part of an aggregate level of anticipated emergencies, particularly when normally estimated in advance, would not be “unforseen”); and

Not permanent.–the need is temporary in nature.

Expenditures: (See Outlays.)

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Federal Debt: Consists of all Treasury and agency debt issues outstanding. Current law places a limit or ceiling on the amount of debt. Debt subject to limit has two components: debt held by the government and debt held by the public.

Debt held by the government.–Represents the holdings of debt by federal trust funds and other special government funds. For example, when a trust fund is in surplus as is presently the case with Social Security, the law requires that this surplus be invested in government securities.

Debt held by the public.–Represents the holdings of debt by individuals, institutions, other buyers outside the federal government, and the Federal Reserve System. The change in debt held by the public in any given year closely tracks the unified budget deficit for that year.

Fiscal Policy: Federal government policies with respect to taxes, spending, and debt management intended to promote the nations’ macroeconomic goals, particularly with respect to employment, gross national product, price level stability, and equilibrium in balance of payments. The budget process is a major vehicle for determining and implementing Federal fiscal policy. The other major component of Federal macroeconomic policy is monetary policy. (See Monetary Policy.)

Fiscal Year: A fiscal year is a 12-month accounting period. The fiscal for the Federal Government begins October 1 and ends September 30. The fiscal year is designated by the calendar year in which it ends; for example fiscal year 1997 is the year beginning October 1, 1996, and ending September 30, 1997.

Functional Classification: A system of classifying budget resources by major purpose so that budget authority, outlays, and credit activities can be related in terms of the national needs being addressed (for example, national defense, health) regardless of the agency administrating the program. There are currently 20 functions. A function may be divided into two or more subfunctions depending upon the complexity of the national need addressed by that function. (See Budget Authority; Outlays.)

return to topIImpoundment: A generic term referring to any action or inaction by an officer or employee of the U.S. Government that precludes the obligation or expenditure of budget authority in the manner intended by Congress. (See Deferral of Budget Authority; Rescission of Budget Authority.) return to topJJoint Committee on Taxation (JCT): Section 8001 of the Internal Revenue Code authorized the creation of the Joint Committee on Taxation. By statute, it is composed of five members from the Committee on Finance (three majority, two minority) chosen by such Committee and five members from the Committee on Ways and Means (three majority, two minority) chosen by su