When did the financial crisis really start?

Check out the full set of graphs at Daily Kos: State of the Nation.

Global plan for recovery and reform

Read Global plan for recovery and reform. Excerpt:

By embracing the “global plan for recovery and reform,” which is how it was officially described, Obama explicitly endorsed International Monetary Fund (IMF) surveillance of the U.S. economy, creation of a global “Financial Stability Board,” the expanded use of a new global currency called Special Drawing Rights, a new global warming treaty, and costly fulfillment of the United Nations Millennium Development Goals (MDGs). This is in addition to the explicit and reported commitment of over $1 trillion in additional taxpayer money to the IMF and the World Bank. ...

The document includes the statement that “we reaffirm our historic commitment to meeting the Millennium Development Goals…” This is, in fact, a disguised attempt to make then-Senator Obama’s Global Poverty Act the law of the land through executive action. This measure alone has been estimated to cost $845 billion and it was never passed by Congress because of public opposition.

“We will support, now and in the future, to candid, even-handed, and independent IMF surveillance of our economies and financial sectors, of the impact of our policies on others, and of risks facing the global economy,” the document states. There is no exception for the U.S. Hence, the IMF will now be in a position to officially monitor and pass judgment on U.S. economic policies. We have become like any other second- or third-rate power in need of global oversight and supervision.

The proposed “new Financial Stability Board (FSB)” will have a “strengthened mandate” and work with the IMF to “reshape our regulatory systems.” Among other things, its mission is to “assess vulnerabilities affecting the financial system, identify and oversee action needed to address them,” “promote co-ordination and information exchange among authorities responsible for financial stability,” and “monitor and advise on market developments and their implications for regulatory policy.”

The Financial Stability Board is the new name for a more powerful and expanded Financial Stability Forum, a body originally designed to “promote international financial stability through information exchange and international co-operation in financial supervision and surveillance.” Members of the group include the central banks of various nations, international financial institutions, and supervisors in important financial centers.

FED Increases Bank Reserves by 1 Trillion

"There is no more surer, more subtler means of over turning the existing basis of society than to debauch the currency. The process (of inflating) engages all of the hidden forces of economics on the side of destruction and does it in a manner that not one man in a million can diagnose it" -- John Maynard Keynes

Jon Stewart discovers Goldman

The Daily Show With Jon Stewart	M - Th 11p / 10c
Clusterfu#@k to the Poor House - Goldman Sachs' Connections
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Daily Show Full Episodes Economic Crisis Political Humor

More at Goldman Sachs 666 blog.

A Bigger, Bolder Role Is Imagined For the IMF

A Bigger, Bolder Role Is Imagined For the IMF
Changes Suggest Shift in How Global Economy Is Run
By Anthony Faiola, Washington Post Staff Writer

Partial quote:
"The IMF is changing, and with it, there will be a sea change in the way the world economy is run," said C. Fred Bergsten, director of the Peterson Institute for International Economics. "Their role will dramatically shift. You're talking about monitoring fiscal stimulus, moving toward tighter regulations for financial institutions. You're talking about global economic management in a way we have never seen."

The Big Lie - Rob Kirby

Market Observation - Rob Kirby 04.20.2009 Partial quote:
The U.S. Treasury released the Treasury International Capital (TIC) report for February 2009. It shows another outflow of capital. “Monthly net TIC flows were negative $97.0 billion. Of this, net foreign private flows were negative $106.3 billion, and net foreign official flows were positive $9.3 billion.” This is a huge reversal. That is almost a quarter of a trillion dollars in just two months. Foreigners are not bailing out the Treasury any longer. They are pulling out. They are net sellers. This means that domestic buyers must be found — not just for the gigantic wave of debt already on the books but also for the foreigners who are saying sayonara. The FED has not budgeted for this. It has pretended that the much-heralded glut of international savings would continue. It’s over. It’s not just over; it’s imploding. We are now seeing a glut of selling.

Goodbye recovery, or, Goodbye dollar.

Visual guide to where you tax dollars go

Visual guide to where you tax dollars go

Click here.

George Soros calls for a World Currency to replace the Dollar

Danger: SEC does not enforce the law

I’ve commented before on how the Securities & Exchange Commission under Christopher Cox has looked the other way like a crooked cop while certain well-connected market makers robbed us of our 401k investments through counterfeit stock electronically injected by naked short selling. So it was with great interest I tuned in to watch the new SEC leader, Linda Thomsen, hold a public forum on proposals for new short selling rules. It was sad to see that the meeting turned into just talk, talk, talk, and no action for many months at best. When will the SEC start to do their job an arrest the parties that are failing to deliver?!

Far from just being inept, it appears the new SEC leadership is implicated in the failures to enforce justice under the old SEC. For example, watch Linda in action:

Full story read: Deep Capture, April 13, 2009.