Sunday, January 26, 2014

How Economists and Policymakers Murdered Our Economy

Paul Craig Roberts
Prison Planet.com
January 26, 2014

The economy has been debilitated by the offshoring of middle class jobs for the benefit of corporate profits and by the Federal Reserve’s policy of Quantitative Easing in order to support a few oversized banks that the government protects from market discipline. Not only does QE distort bond and stock markets, it threatens the value of the dollar and has resulted in manipulation of the gold price. See http://www.paulcraigroberts.org/2014/01/17/hows-whys-gold-price-manipulation/
When US corporations send jobs offshore, the GDP, consumer income, tax base, and careers associated with the jobs go abroad with the jobs. Corporations gain the additional profits at large costs to the economy in terms of less employment, less economic growth, reduced state, local and federal tax revenues, wider deficits, and impairments of social services.
When policymakers permitted banks to become independent of market discipline, they made the banks an unresolved burden on the economy. Authorities have provided no honest report on the condition of the banks. It remains to be seen if the Federal Reserve can create enough money to monetize enough debt to rescue the banks without collapsing the US dollar. It would have been far cheaper to let the banks fail and be reorganized.
US policymakers and their echo chamber in the economics profession have let the country down badly. They claimed that there was a “New Economy” to take the place of the “old economy” jobs that were moved offshore. As I have pointed out for a decade, US jobs statistics show no sign of the promised “New Economy.”
The same policymakers and economists who told us that “markets are self-regulating” and that the financial sector could safely be deregulated also confused jobs offshoring with free trade. Hyped “studies” were put together designed to prove that jobs offshoring was good for the US economy. It is difficult to fathom how such destructive errors could consistently be made by policymakers and economists for more than a decade. Were these mistakes or cover for a narrow and selfish agenda?
In June, 2009 happy talk appeared about “the recovery,” now 4.5 years old. As John Williams (shadowstats.com) has made clear, “the recovery” is entirely the artifact of the understated measure of inflation used to deflate nominal GDP. By under-measuring inflation, the government can show low, but positive, rates of real GDP growth. No other indicator supports the claim of economic recovery.
John Williams writes that consumer inflation, if properly measured, is running around 9%, far above the 2% figure that is the Fed’s target and more in line with what consumers are actually experiencing. We have just had a 6.5% annual increase in the cost of a postage stamp.
 
The Fed’s target inflation rate is said to be low, but Simon Black points out that the result of a lifetime of 2% annual inflation is the loss of 75% of the purchasing power of the currency. He uses the cost of sending a postcard to illustrate the decline in the purchasing power of median household income today compared to 1951. That year it cost one cent to send a post card. As household income was $4,237, the household could send 423,700 postcards. Today the comparable income figure is $51,017. As it costs 34 cents to send one postcard, today’s household can only afford to send 150,050 postcards. Nominal income rose 12 times, and the cost of sending a postcard rose 34 times.
Just as the American people know that there is more inflation than is reported, they know that there is no recovery. The Gallup Poll reported this month that only 28% of Americans are satisfied with the economy.http://www.gallup.com/poll/166871/americans-satisfaction-economy-sours-2001.aspx?version=print
From hard experience, Americans have also caught on that “free trade agreements” are nothing but vehicles for moving their jobs abroad. The latest effort by the corporations to loot and defraud the public is known as the “Trans-Pacific Partnership.” “Fast-tracking” the bill allowed the corporations to write the bill in secret without congressional input. Some research shows that 90% of Americans will suffer income losses under TPP, while wealth becomes even more concentrated at the top.
TPP affects every aspect of our lives from what we eat to the Internet to the environment. According to Kevin Zeese in Alternet, “the leak of the [TPP] Intellectual Property Chapter revealed that it created a path to patent everything imaginable, including plants and animals, to turn everything into a commodity for profit.”
The secretly drafted TPP also creates authority for the executive branch to change existing US law to make the laws that were not passed in secret compatible with the secretly written trade bill. Buy American requirements and any attempt to curtail jobs offshoring would become illegal “restraints on trade.”
If the House and Senate are willing to turn over their legislative function to the executive branch, they might as well abolish themselves.
The financial media has been helping the Federal Reserve and the banks to cover up festering problems with rosy hype, but realization that there are serious unresolved problems might be spreading. Last week interest rates on 30-day T-bills turned negative. That means people were paying more for a bond than it would return at maturity. Dave Kranzler sees this as a sign of rising uncertainty about banks. Reminiscent of the Cyprus banks’ limits on withdrawals, last Friday (January 24) the BBC reported that the large UK bank HSBC is preventing customers from withdrawing cash from their accounts in excess of several thousand pounds. http://www.bbc.co.uk/news/business-25861717
If and when uncertainty spreads to the dollar, the real crisis will arrive, likely followed by high inflation, exchange controls, pension confiscations, and resurrected illegality of owning gold and silver. Capitalist greed aided and abetted by economists and policymakers will have destroyed America.

Paul Craig Roberts was Assistant Secretary of the Treasury for Economic Policy and associate editor of the Wall Street Journal. He was columnist for Business Week, Scripps Howard News Service, and Creators Syndicate. He has had many university appointments. His internet columns have attracted a worldwide following. His latest book, The Failure of Laissez Faire Capitalism and Economic Dissolution of the West is now available.

Bank-Run Fears Continue; HSBC Restricts Large Cash Withdrawals

Zero Hedge
January 25, 2014

Following research last week suggesting that HSBC has a major capital shortfall, the fact that several farmer’s co-ops were unable to pay back depositors in China, and, of course, the liquidity crisis in China itselfnews from The BBC that HSBC is imposing restrictions on large cash withdrawals raising a number of red flags. The BBC reports that some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it. HSBC admitted it has not informed customers of the change in policy, which was implemented in November for their own good: “We ask our customers about the purpose of large cash withdrawals when they are unusual… the reason being we have an obligation to protect our customers, and to minimise the opportunity for financial crime.” As one customer responded: “you shouldn’t have to explain to your bank why you want that money. It’s not theirs, it’s yours.”

Via The BBC,
Some HSBC customers have been prevented from withdrawing large amounts of cash because they could not provide evidence of why they wanted it, the BBC has learnt.
Listeners have told Radio 4′s Money Box they were stopped from withdrawing amounts ranging from £5,000 to £10,000.
HSBC admitted it has not informed customers of the change in policy, which was implemented in November.
The bank says it has now changed its guidance to staff.

When we presented them with the withdrawal slip, they declined to give us the money because we could not provide them with a satisfactory explanation for what the money was for. They wanted a letter from the person involved.”
The arrogance is incredible…

Friday, January 24, 2014

VIDEO: The International Banking Cartel - The MOVIE



VIDEO: Iran Nuke Deal in Jeopardy, Obama Care Bankrupts Insurace Companies, Syrian Peace Talks Mean War




19 Numbers Which Prove That Americans Are Angrier And More Frustrated Than Ever

Michael Snyder
American Dream
January 24, 2014

Have you noticed that people are becoming angrier?  You can see it everywhere – in our homes, in our schools, in our workplaces, in our television shows, in our movies, and certainly in Washington.  In fact, many have said that there is an “epidemic” of anger in America today. 

And it is undeniably true.  As you will see below, a whole host of surveys and opinion polls show that America has become a seething cauldron of anger and frustration unlike anything that we have ever seen before.  As a nation, we are more divided than we have been in decades, and economic conditions continue to deteriorate.  People are working harder than ever and Americans get less vacation days than anyone else in the world, but median household income keeps going down every year.  Americans are dissatisfied with their relationships, their jobs, their communities and their political leaders.  There is this growing sense that our country is steamrolling toward disaster, and yet there is very little agreement on what the solutions to our problems are.  Instead, blaming others for our problems has become a new American pastime.  The very fabric of our society is coming apart at the seams and the thin veneer of civilization that we all take for granted is beginning to disappear.  What is America going to look like if we continue to go even farther down this road?
The following statistics come from various surveys and opinion polls that have been conducted recently.  Without a doubt, these numbers show that Americans are angrier and more frustrated than ever…
#1 65 percent of Americans are dissatisfied “with the U.S. system of government and its effectiveness”.  That is the highest level of dissatisfaction that Gallup has ever recorded.
#2 66 percent of Americans are dissatisfied “with the size and power of federal government”.
#3 70 percent of Americans do not have confidence that the government will “make progress on the important problems and issues facing the country in 2014.”
#4 Only 8 percent of Americans believe that Congress is doing a “good” or “excellent” job.
#5 Only 4 percent of Americans believe that it would “change Congress for the worse” if every member was voted out during the next election.
#6 60 percent of Americans report feeling “angry or irritable”.  Two years ago that number was at 50 percent.
#7 53 percent of Americans believe that the Obama administration is “not competent in running the government”.
#8 An all-time low 31 percent of Americans identify themselves as Democrats.
#9 An all-time low 25 percent of Americans identify themselves as Republicans.
#10 An all-time high 42 percent of Americans identify themselves as Independents.
#11 Barack Obama’s daily job approval numbers have dipped down into the high thirties several times lately.
#12 Only 38 percent of Americans approve of the way that Obama is handling the economy.
#13 60 percent of Americans believe that the “economic system in this country unfairly favors the wealthy”.
#14 70 percent of Americans do not “feel engaged or inspired at their jobs”.
#15 Two-thirds of U.S. teens “admit to having anger attacks involving the destruction of property, threats of violence, or engaging in violence”.
#16 36 percent of Americans admit that they have yelled at customer service agents during the past year.
#17 73 percent of Americans believe that Obama’s efforts to “reform” the NSA “won’t make much difference in protecting people’s privacy”.
#18 77 percent of Americans believe that the state of the economy is either “not so good” or “poor”.
#19 65 percent of Americans are either “somewhat dissatisfied” or “very dissatisfied” with the direction of the country.
Are you starting to get the picture?
We have never seen anything like this in the United States during the post-World War II era.  People are fundamentally unhappy, and that has tremendous implications for the future of our society.
So what is causing all of this anger and frustration?
Well, of course the economic struggles that tens of millions of Americans are experiencing on a daily basis play a huge role.  The following is an excerpt from a recent local Fox News report
Some are describing this as “America’s anger epidemic.” And there are a few reasons: uncertainty in the job market and the economy, working long hours — on average about one month more now than they did in the 1970s and with less vacation.
So if it seems like Americans are angrier these days it’s because we are.
And it is easy to understand why people are becoming increasingly frustrated with the incompetence and rampant corruption in Washington D.C.
Grim findings have been coming thick and fast. Most Americans no longer see President Barack Obama as honest. Half think that he “knowingly lied” to pass his Obamacare health law. Fewer than one in five trust the government in Washington to do what is right all or most of the time. Confidence in Congress has fallen to record lows: in America, as in Italy and Greece, just one in ten voters expresses trust or confidence in the national parliament. Frankly straining credulity, a mammoth, 107-country poll by Transparency International, a corruption monitor, this summer found Americans more likely than Italians to say that they feel that the police, business and the media are all “corrupt or extremely corrupt”.
Americans are also turning on one another. Since 1972 the Chicago-based General Social Survey (GSS) has been asking whether most people can be trusted, or whether “you can’t be too careful” in daily life. Four decades ago Americans were evenly split. Now almost two-thirds say others cannot be trusted, a record high.
In addition, there are certainly other reasons why people are so angry these days as well…
The “Knockout Game” grows more popular. Athletes throw tantrums that would embarrass most 3-year-olds. Race relations simmer at a constant near-boil, while our leaders engage in enough posturing and name-calling to look more like a modern version of “West Side Story” than the servant-citizens who should inspire peace and mutual respect.
So what do you believe?
Why do you think that Americans are so angry and so frustrated these days?
Is there anything we can do about it?
And how bad will the anger and frustration in this country get when the economy completely collapses?
Please feel free to share what you think by posting a comment below…

VIDEO: The True History of the Banking Cartels and the Federal Reserve




Roubini: Many Davos Speakers Think It’s Like 1914 … Right Before WW1 Broke Out

Washington’s Blog
January 24, 2014

Well-known economist Nouriel Roubini tweeted from the gathering of the rich and powerful at the World Economic Forum in Davos:
Many speakers compare 2014 to 1914 when WWI broke out & no one expected it. A black swan in the form of a war between China & Japan?
And:
Both Abe and an influential Chinese analyst don’t rule out a military confrontation between China and Japan. Memories of 1914?
Many other economists have forecast war.
Kyle Bass writes:
Trillions of dollars of debts will be restructured and millions of financially prudent savers will lose large percentages of their real purchasing power at exactly the wrong time in their lives. Again, the world will not end, but the social fabric of the profligate nations will be stretched and in some cases torn. Sadly, looking back through economic history, all too often war is the manifestation of simple economic entropy played to its logical conclusionWe believe that war is an inevitable consequence of the current global economic situation.
Larry Edelson wrote an email to subscribers entitled “What the “Cycles of War” are saying for 2013″, which states:
Since the 1980s, I’ve been studying the so-called “cycles of war” — the natural rhythms that predispose societies to descend into chaos, into hatred, into civil and even international war.
I’m certainly not the first person to examine these very distinctive patterns in history. There have been many before me, notably, Raymond Wheeler, who published the most authoritative chronicle of war ever, covering a period of 2,600 years of data.
However, there are very few people who are willing to even discuss the issue right now. And based on what I’m seeing, the implications could be absolutely huge in 2013.
Former Goldman Sachs technical analyst Charles Nenner – who has made some big accurate calls, and counts major hedge funds, banks, brokerage houses, and high net worth individuals as clients – says there will be “a major war starting at the end of 2012 to 2013”, which will drive the Dow to 5,000.
Veteran investor adviser James Dines forecast a war is epochal as World Wars I and II, starting in the Middle East.
Billionaire investor Jim Rogers notes:
A continuation of bailouts in Europe could ultimately spark another world war, says international investor Jim Rogers.
***
“Add debt, the situation gets worse, and eventually it just collapses. Then everybody is looking for scapegoats. Politicians blame foreigners, and we’re in World War II or World War whatever.”
Marc Faber says that the American government will start new wars in response to the economic crisis:



We’re in the middle of a global currency war – i.e. a situation where nations all compete to devalue their currencies the most in order to boost exports. And Brazilian president-elect Rousseff said in 2010:
The last time there was a series of competitive devaluations … it ended in world war two.
Jim Rickards agrees:
Currency wars lead to trade wars, which often lead to hot wars. In 2009, Rickards participated in the Pentagon’s first-ever “financial” war games. While expressing confidence in America’s ability to defeat any other nation-state in battle, Rickards says the U.S. could get dragged into “asymmetric warfare,” if currency wars lead to rising inflation and global economic uncertainty.
As does Jim Rogers:
Trade wars always lead to wars.
Martin Armstrong wrote in August:
Our greatest problem is the bureaucracy wants a war. This will distract everyone from the NSA and justify what they have been doing. They need a distraction for the economic decline that is coming.
Armstrong argued last month that war plans against Syria are really about debt and spending:
The Syrian mess seems to have people lining up on Capital Hill when sources there say the phone calls coming in are overwhelmingly against any action. The politicians are ignoring the people entirely. This suggests there is indeed a secret agenda to achieve a goal outside the discussion box. That is most like the debt problem and a war is necessary to relief the pressure to curtail spending.
And given that many influential economists wrongly believe that war is good for the economy … many are overtly or quietly pushing for war.
In addition, historians say that the risk of world war is rising because the U.S. feels threatened by a rising China … and the U.S. government considers economic rivalry to be a basis for war
Moreover, former Federal Reserve chairman Alan Greenspan said that the Iraq war was really about oil, and former Treasury Secretary Paul O’Neill says that Bush planned the Iraq war before 9/11. And see this and this. If that war was for petroleum, other oil-rich countries might be invaded as well.
And the American policy of using the military to contain China’s growing economic influence – and of considering economic rivalry to be a basis for war – are creating a tinderbox.
Finally, multi-billionaire investor Hugo Salinas Price says:
What happened to [Libya's] Mr. Gaddafi, many speculate the real reason he was ousted was that he was planning an all-African currency for conducting trade. The same thing happened to him that happened to Saddam because the US doesn’t want any solid competing currency out there vs the dollar. You know Gaddafi was talking about a gold dinar.
Indeed, senior CNBC editor John Carney noted:
Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era.
Robert Wenzel of Economic Policy Journal thinks the central banking initiative reveals that foreign powers may have a strong influence over the rebels.
This suggests we have a bit more than a ragtag bunch of rebels running around and that there are some pretty sophisticated influences. “I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising,” Wenzel writes.
Indeed, some say that recent wars have really been about bringing all countries into the fold of Western central banking.

VIDEO: The Diseased Minds of The Social Engineers




Obama admits his climate agenda won’t curb global warming

Michael Bastasch
Daily Caller
January 24, 2014

President Barack Obama admitted in an interview with The New Yorker that his plan to lower U.S. carbon dioxide emissions by banning new coal plants would do little to curb global warming since developing countries like China and India will still use coal power.
The Obama administration published its proposed carbon dioxide emissions limits for new coal plants which would effectively ban coal power. That is, unless they use commercially unproven carbon capture and storage (CCS) technologies. Tighter emission controls for coal plants are part of Obama’s plan to fight global warming.
Critics of the administration argue that banning coal plants won’t curb global warming because developing countries continue to build coal plants, frustrating U.S. efforts to lower global carbon emissions. Obama conceded that fact, but argued that limiting emissions here will only help the U.S. because other countries will come to us for the technology once we’ve developed it.
“And so if we can figure out a carbon-capture mechanism that is sufficiently advanced and works, then we are helping ourselves, because the Chinese and the Indians are going to build some coal plants, and even if we don’t build another coal plant in this country, there are going to be a lot of coal plants around the world that are built,” Obama told the New Yorker.

Full article here

VIDEO: Obama's Marxist Purge



VIDEO: Kiev Riot Meltdown



Thursday, January 23, 2014

VIDEO: Transforming The Workforce Into A Dependent Class




VIDEO: Dr. Paul Craig Roberts-U.S. Gold Is Gone



Whistleblower: Google Chrome Can Listen To Your Conversations

Programmer goes public four months after company failed to fix exploit

Paul Joseph Watson
Prison Planet.com
January 23, 2014

A whistleblower who privately informed Google four months ago that their Chrome browser had the ability to record conversations without the user’s knowledge has gone public after the tech giant failed to fix the issue.
 

In the video above, the programmer explains how Google Chrome’s speech recognition function remains operational even after the user has left the website on which they gave permission for the browser to record their voice.
“When you click the button to start or stop the speech recognition on the site, what you won’t notice is that the site may have also opened another hidden pop under window. This window can wait until the main site is closed, and then start listening in without asking for permission. This can be done in a window that you never saw, never interacted with, and probably didn’t even know was there,” writes the whistleblower.
The video shows a pop-under browser window recording and typing the programmer’s words as she speaks. The window can be disguised as an advertising banner so the user has no indication that Chrome is listening to their voice, whether that be on the phone, talking to someone on Skype, or merely having a conversation with someone near the computer.
The exploit is a “serious security breach” that has compromised the privacy of millions of Google Chrome users, according to the programmer, who warns, “as long as Chrome is still running, nothing said next to your computer is private.”
The exploit turns Google Chrome into an “espionage tool,” adds the programmer, noting that the recording function can be activated by the use of sensitive keywords and be passed on “to your friends at the NSA.”
The programmer reported the exploit to Google on September 19 last year and was met with assurances that it would be quickly fixed. However, despite apparently fixing the bug within two weeks, the update was never released to Chrome users, with Google telling the programmer, “Nothing is decided yet.”
As far back as 2006, we warned that computers would use in-built microphones to spy on users. We also revealed how digital cable boxes had embedded microphones that had the capability of recording conversations since the late 1990′s.
As we have previously highlighted, terms of agreement for both Android and iPhone apps now require users to agree to allow their microphone to be activated at any time without confirmation before they can download the app.
Facebook’s term’s of agreement also allow the social network giant to record your phone calls, read your phone’s call log and “read data about contacts stored on your phone, including the frequency with which you’ve called, emailed or communicated in other ways with specific individuals.”
We are now fully ensconced in a world that even George Orwell would have laughed off as inconceivable. Embedded microphones in everything from Xbox Kinect consoles to high-tech street lights that can record private conversations in real time represent the final nail in the coffin of privacy.


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

Paul Joseph Watson is the editor and writer for Infowars.com and Prison Planet.com. He is the author of Order Out Of Chaos. Watson is also a host for Infowars Nightly News.

VIDEO: X22 Report 1/23/14. Insiders Are Now Preparing For The Economic Collapse








VIDEO: Gerald Celente - Trends In The News - "Traitors Of America!"








Wednesday, January 22, 2014

VIDEO: Get Ready for 5,000% Price Hike For Common Antibiotics




VIDEO: Life Within The Police State



VIDEO: Missing Gold, Mega Default in China, Massive Losses at Deutsche Bank




VIDEO: Kevin O’Leary says 3.5 billion people living in poverty is ‘fantastic news’



Fed’s Dirty Little Secret: “The Gold Isn’t There… Exists as Paper IOU’s”

Mac Slavo
SHTFplan.com
January 22, 2014

The assumption by global depositors who have entrusted their national savings with the Federal Reserve and US Government has always been that when they request to repatriate their holdings the Fed would simply open the vault, access said assets and ship them back to where they belong.
That’s exactly what Germany expected would happen last year when the country requested that the Federal Reserve return about one-fifth of their gold reserves. But that’s when things got really dicey. The Fed announced that Germany’s gold would be returned… but it would take seven years to get back home.
The response to Germany’s request turned heads all over the world and raised concerns that the Federal Reserve had squandered its gold holdings. But this isn’t the only red flag that was raised. Public pressure reached such levels that the Fed was forced to take steps to maintain confidence in its operations, so it started shipping gold to Germany. Except it turns out that the gold being sent back to the Bundesbank wasn’t actually German gold. It contained none of the original serial numbers, had no hallmarks, and was reportedly just recently melted.
The implications are earth shattering and hit the very core of the problems facing America today. The whole system as it exists is just one big paper IOU.
In this must-watch interview with Future Money TrendsJefferson Financial CEO Brien Lunden weighs in on Germany’s gold, what is happening at the Fed and what other central banks are doing right now. Brien also shares his thoughts on where the gold market is today, what to expect in coming years as gold supplies tighten up, how mining companies like Brazil Resources are taking advantage of the current environment, and how to profit from gold in coming years.


For the reply to be that it would take seven years for this Gold to be sent back to you, your Gold to be sent back to you, was an obvious admission that the Gold just isn’t there.

Yes, it’s an admission that the German reserves were not still sitting there in the vault in the same form that they were sent there after WWII. They were not the original Central Bank Gold bars, same serial numbers etc. It’s an admission that at some point since then, that Gold has been used for other purposes.

So the dirty little secret here, is that a significant portion of central bank Gold reserves, including the U.S., don’t exist now in their original bar form. In fact, they exist as IOU’s, paper IOU’s, from the very banks that were bailed out in 2008 by the Federal Reserve.
So the Gold isn’t there, and the secret that they’re hiding is that it’s been replaced by IOU’s, and importantly those IOU’s are for Gold that was borrowed at much lower prices.
The Fed, through their recent actions, has essentially admitted that the gold stored in their vaults isn’t really there. Just as our government refuses to be openly transparent to with the American people, the Fed has resisted all calls to open their books (and vaults) to impartial third-party accountants for review.
The whole system, it seems, is now operating on IOU’s. Be it consumers, banks, the Fed or even the US government, all of the US dollars being exchanged are nothing but worthless pieces of paper, because given the lack of transparency at the Fed, we have to assume that the physical assets supposedly backing all this currency have already been spent.
Are we wrong in making this assumption?
If you were to store some emergency funds with a friend who promised to get them back to you whenever you asked, and then you ask and are told it’ll be a few years before he’ll get you the cash, what assumption would you make?  That your friend has the money on him right now, or that he’s used it for other purposes and doesn’t really know exactly when he’ll have it available for repayment?
Our entire consumer economy, as well as the credit worthiness of our nation, is built upon confidence. It’s took decades to get America in a position where our country’s monetary issues and services would be trusted by the international community. It’s taken just a few years for that confidence to be lost.
It’s now only a matter of time before our creditors and global investors pull the plug on the whole thing.

The Chart That Really Scares The Government…

Zero Hedge
January 22, 2014

With a government intent on growing its entitlements, welfare state, and implicitly it’s debt load… what could be more terrifying than the future debt-serfs refusing to be born into existence. As the birth rate in the US tumbles to yet another multi-decade low, one has to ask how confident the young adult of today is and how, again, the Japanization of America continues to indicate a dark future ahead


VIDEO: Fabian4Liberty 1/22/14. Top 3 Threats Facing The American Worker Today / Hyperinflation, Dollar Devaluation and Wage Stagnation. What To Do?











After the Collapse: Six Likely Events That Will Follow an Economic Crash

Mac Slavo
SHTFplan.com
January 21, 2014

It’s not too difficult to understand that we are well on our way to a paradigm shift in America; in fact we’re in the midst of it right now. The writing is on the wall and can no longer be ignored.
The US government has run up trillions of dollars in debt, and given the recent debates over the country’s debt ceiling, we can rest assured that neither Congress or the President will act to curtail spending and balance the budget. We will continue adding trillions of dollars to the national debt clock until such time that our creditors no longer lend us money.

From the monetary side, the Federal Reserve’s response to this unprecedented crisis has been to simply “print” more money as is necessary. On top of the trillions in dollars already printed thus far, the Fed continues quantitative easing to the tune of about $80 billion per month. It’s the only arrow left in the Fed’s quiver, because failing to inject these billions into stock markets and banks will lead to an almost instant collapse of the U.S. financial system. Unfortunately, the current strategy is chock full of its own pitfalls, the least of which being the real possibility of a hyperinflationary environment developing over coming months and years.

On Main Street, average Americans have seen their wealth decimated. They’ve lost millions of jobs and homes over the course of the last five years. And if recent reports are any indication, the destruction of the middle class will continue unabated for years to come. The resulting effect is a vicious negative feedback loop that continues to build upon itself. Americans no longer have money (or credit) to spend to prop up the economy, thus more jobs will be lost, leading to more people requiring government assistance for everything from food to shelter.

We are, on every level, facing a collapse of unprecedented scale.

As noted by International Man Jeff Thomas of Casey Research, it’s not that difficult of an exercise to predict what’s coming next:
The number of people whose eyes have been opened seems to be growing, and many of them are asking what the collapse will look like as it unfolds. What will the symptoms be?
Well, the primary events are fairly predictable: they would include major collapses in the bond and stock markets and possible sudden deflation (primarily of assets), followed by dramatic inflation, if not hyperinflation (primarily of commodities), followed by a crash of several major currencies, particularly the euro and the US dollar.
We know a collapse is coming… If you’re paying attention you probably have the distinct feeling that we are in the middle of it right now. And guess what? The government and military know it’s coming too, as evidenced by large-scale simulations of exactly such an event and its fallout.
But the collapse of our financial system, or hyperinflation of our currency, or a meltdown in US Treasuries is only the beginning. We know some or all of these events are all but a foregone conclusion.

What we don’t know is the timing of the trigger event that causes the global panic to ensue and what will happen after these primary events take hold.
According to Jeff Thomas, while we can’t know for sure, the following “secondary events” are the most likely outcomes when the system as we have come to know it destabilizes.
The secondary events will be less certain, but likely: increased unemployment, currency controls, protective tariffs, severe depression, etc.
But, along the way, there will be numerous surprises—actions taken by governments that may be as unprecedented as they would be unlawful. Why? Because, again, such actions are the norm when a government finds itself losing its grip over the people it perceives as its minions. Here are a few:

  • Travel Restrictions. This will begin with restrictions on foreign travel, including suspension/removal of passports. (This has begun in a small way in both the EU and US.) Later, travel restrictions will be extended within the boundaries of countries (highway checkpoints, etc.)

  • Confiscation of wealth. The EU has instituted the confiscation of bank accounts, which can be expected to become an international form of governmental theft. This does not automatically mean that other assets, such as precious metals and real estate will also be confiscated, but it does mean that the barrier for confiscation has been eliminated. There is therefore no reason to assume that any asset is safe from any government that approves theft through bail-ins.

  • Food Shortages. The food industry operates on very small profit margins and survives only as a result of quick payment of invoices. With dramatic inflation, marginal businesses (suppliers, wholesalers, and retailers) will fall by the wayside. The percentage of failing businesses will be dependent upon the duration and severity of the inflationary trend.

  • Squatters Rebellions. A dramatic increase in the number of home and business foreclosures will result in homelessness for anyone whose debt exceeds his ability to pay—even those who presently appear to be well-offAs numbers rise significantly, a new homeless class will be created amongst the former middle class. As they become more numerous, large scale ownership of property may give way to large scale “possession” of property.

  • Riots. These will likely happen spontaneously due to the above conditions, but if not, governments will create them to justify their desire for greater control of the masses.

  • Martial Law. The US has already prepared for this, with the passing of the 2012 National Defense Authorization Act (NDAA), which many interpret as declaring the US to be a “battlefield.” The NDAA allows the suspension of habeas corpus, indefinite detention, and the assumption that any resident may be considered an enemy combatant. Similar legislation may be expected in other countries that perceive martial law as a solution to civil unrest.

The above list is purposely brief—a sampling of eventualities that, should they occur, will almost definitely come unannounced. As the decline unfolds, they will surely happen with greater frequency.
Full article at Casey Research via The Daily Crux
We could go point by point on this list and provide a plethora of evidence to validate Jeff’s claims, but that would take pages upon pages of references.

The fact is that the US government, for the last decade, has been moving increasingly closer to what can only be described as a police state. With watch lists, militarized police departments, legislative actions, and executive orders the government has already set the stage for these secondary events.
When the system itself is no longer able to support the tens of millions of Americans receiving monthly government assistance, one hiccup could set the whole thing ablaze.

While it can’t be avoided on a national scale, there are advance preparations that individuals and their families can make to, at the very least, insulate themselves from the secondary event triggers. This includes storing essential physical goods and keeping them in your possession. Things like long-term food suppliesbarterable goodsmonetary goodsself defense armaments and having a well thought outpreparedness plan will, if nothing else, provide you with the means necessary to stay out of the way it all hits the fan.

The $23 Trillion Credit Bubble In China Is Starting To Collapse – Global Financial Crisis Next?

Michael Snyder
Economic Collapse
January 21, 2014

Did you know that financial institutions all over the world are warning that we could see a “mega default” on a very prominent high-yield investment product in China on January 31st? 

We are being told that this could lead to a cascading collapse of the shadow banking system in China which could potentially result in “sky-high interest rates” and “a precipitous plunge in credit“.  In other words, it could be a “Lehman Brothers moment” for Asia.  And since the global financial system is more interconnected today than ever before, that would be very bad news for the United States as well.  Since Lehman Brothers collapsed in 2008, the level of private domestic credit in China has risen from $9 trillion to an astounding $23 trillion.  That is an increase of $14 trillion in just a little bit more than 5 years.  Much of that “hot money” has flowed into stocks, bonds and real estate in the United States.  So what do you think is going to happen when that bubble collapses?

The bubble of private debt that we have seen inflate in China since the Lehman crisis is unlike anything that the world has ever seen.  Never before has so much private debt been accumulated in such a short period of time.  All of this debt has helped fuel tremendous economic growth in China, but now a whole bunch of Chinese companies are realizing that they have gotten in way, way over their heads.  In fact, it is being projected that Chinese companies will pay out the equivalent ofapproximately a trillion dollars in interest payments this year alone.  That is more than twice the amount that the U.S. government will pay in interest in 2014.

Over the past several years, the U.S. Federal Reserve, the European Central Bank, the Bank of Japan and the Bank of England have all been criticized for creating too much money.  But the truth is that what has been happening in China surpasses all of their efforts combined.  You can see an incredible chart which graphically illustrates this point right here.  As the Telegraph pointed out a while back, the Chinese have essentially “replicated the entire U.S. commercial banking system” in just five years…
Overall credit has jumped from $9 trillion to $23 trillion since the Lehman crisis. “They have replicated the entire U.S. commercial banking system in five years,” she said.
The ratio of credit to GDP has jumped by 75 percentage points to 200pc of GDP, compared to roughly 40 points in the US over five years leading up to the subprime bubble, or in Japan before the Nikkei bubble burst in 1990. “This is beyond anything we have ever seen before in a large economy. We don’t know how this will play out. The next six months will be crucial,” she said.
As with all other things in the financial world, what goes up must eventually come down.
And right now January 31st is shaping up to be a particularly important day for the Chinese financial system.  The following is from a Reuters article
The trust firm responsible for a troubled high-yield investment product sold through China’s largest banks has warned investors they may not be repaid when the 3 billion-yuan ($496 million)product matures on Jan. 31, state media reported on Friday.
Investors are closely watching the case to see if it will shatter assumptions that the government and state-owned banks will always protect investors from losses on risky off-balance-sheet investment products sold through a murky shadow banking system.
If there is a major default on January 31st, the effects could ripple throughout the entire Chinese financial system very rapidly.  A recent Forbes article explained why this is the case…
A WMP default, whether relating to Liansheng or Zhenfu, could devastate the Chinese banking system and the larger economy as well.  In short, China’s growth since the end of 2008 has been dependent on ultra-loose credit first channeled through state banks, like ICBC and Construction Bank, and then through the WMPs, which permitted the state banks to avoid credit risk.  Any disruption in the flow of cash from investors to dodgy borrowers through WMPs would rock China with sky-high interest rates or a precipitous plunge in credit, probably both.  The result?  The best outcome would be decades of misery, what we saw in Japan after its bubble burst in the early 1990s.
The big underlying problem is the fact that private debt and the money supply have both been growing far too rapidly in China.  According to Forbes, M2 in China increased by 13.6 percent last year…
And at the same time China’s money supply and credit are still expanding.  Last year, the closely watched M2 increased by only 13.6%, down from 2012’s 13.8% growth.  Optimists say China is getting its credit addiction under control, but that’s not correct.  In fact, credit expanded by at least 20% last year as money poured into new channels not measured by traditional statistics.
Overall, M2 in China is up by about 1000 percent since 1999.  That is absolutely insane.
And of course China is not the only place in the world where financial trouble signs are erupting.  Things in Europe just keep getting worse, and we have just learned that the largest bank in Germany just suffered ” a surprise fourth-quarter loss”
Deutsche Bank shares tumbled on Monday following a surprise fourth-quarter loss due to a steep drop in debt trading revenues and heavy litigation and restructuring costs that prompted the bank to warn of a challenging 2014.
Germany’s biggest bank said revenue at its important debt-trading division, fell 31 percent in the quarter, a much bigger drop than at U.S. rivals, which have also suffered from sluggish fixed-income trading.
If current trends continue, many other big banks will soon be experiencing a “bond headache” as well.  At this point, Treasury Bond sentiment is about the lowest that it has been in about 20 years.  Investors overwhelmingly believe that yields are heading higher.
If that does indeed turn out to be the case, interest rates throughout our economy are going to be rising, economic activity will start slowing down significantly and it could set up the “nightmare scenario” that I keep talking about.
But I am not the only one talking about it.
In fact, the World Economic Forum is warning about the exact same thing…
Fiscal crises triggered by ballooning debt levels in advanced economies pose the biggest threat to the global economy in 2014, a report by the World Economic Forum has warned.
Ahead of next week’s WEF annual meeting in Davos, Switzerland, the forum’s annual assessment of global dangers said high levels of debt in advanced economies, including Japan and America, could lead to an investor backlash.
This would create a “vicious cycle” of ballooning interest payments, rising debt piles and investor doubt that would force interest rates up further.
So will a default event in China on January 31st be the next “Lehman Brothers moment” or will it be something else?
In the end, it doesn’t really matter.  The truth is that what has been going on in the global financial system is completely and totally unsustainable, and it is inevitable that it is all going to come horribly crashing down at some point during the next few years.
It is just a matter of time.

Monday, January 20, 2014

The Retail Death Rattle

Jim Quinn
The Burning Platform
January 20, 2014

“I was part of that strange race of people aptly described as spending their lives doing things they detest, to make money they don’t want, to buy things they don’t need, to impress people they don’t like.” - Emile Gauvreau

If ever a chart provided unequivocal proof the economic recovery storyline is a fraud, the one below is the smoking gun. November and December retail sales account for 20% to 40% of annual retail sales for most retailers. The number of visits to retail stores has plummeted by 50% since 2010. Please note this was during a supposed economic recovery. Also note consumer spending accounts for 70% of GDP. Also note credit card debt outstanding is 7% lower than its level in 2010 and 16% below its peak in 2008. Retailers like J.C. Penney, Best Buy, Sears, Radio Shack and Barnes & Noble continue to report appalling sales and profit results, along with listings of store closings. Even the heavyweights like Wal-Mart and Target continue to report negative comp store sales. How can the government and mainstream media be reporting an economic recovery when the industry that accounts for 70% of GDP is in free fall? The answer is that 99% of America has not had an economic recovery. Only Bernanke’s 1% owner class have benefited from his QE/ZIRP induced stock market levitation.

Continue reading here:  http://www.theburningplatform.com/2014/01/19/the-retail-death-rattle/

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Friday, January 17, 2014

Who Read 1,582-Page $1.1T Spending Bill? Congressman: ‘Nobody Did’

Barbara Boland
CNS News
January 17, 2014

When asked whether he read the 1,528-page,  $1.1 trillion government spending bill before he voted for it yesterday, Rep. Earl Blumenauer (D-Ore.) said, “Nobody did!”
On Capitol Hill on Thursday, CNSNews.com asked Blumenauer: “The omnibus bill yesterday, it was 1,582 pages, did you have a chance to read all the pages before voting on it?”
Blumenauer laughed and said: “Nobody did!”
“Nobody did?” said the CNSNews.com reporter.
“Nope,” said Blumenauer.

Full article here

Why Are Dozens Of High Ranking Officers Being Purged From The U.S. Military?

Michael Snyder
New American
January 17, 2014

Since Barack Obama has been in the White House, high ranking military officers have been removed from their positions at a rate that is absolutely unprecedented.  Things have gotten so bad that a number of retired generals are publicly speaking out about the “purge” of the U.S. military that they believe is taking place. 
 
As you will see below, dozens of highly decorated military leaders have been dismissed from their positions over the past few years.  So why is this happening?  When I was growing up, my father was an officer in the U.S. Navy.  And what is going on right now is absolutely crazy – especially during a time of peace.  Is there a deliberate attempt to “reshape” the military and remove those that don’t adhere to the proper “viewpoints”?  Does someone out there feel a need to get officers that won’t “cooperate” out of the way?  Throughout world history, whatever comes next after a “military purge” is never good.  If this continues, what is the U.S. military going to look like in a few years?
Perhaps you are reading this and you think that “purge” is too strong a word for what is taking place.  Well, just consider the following quotes from some very highly decorated retired officers…
-Retired Army Major General Paul Vallely: “The White House protects their own. That’s why they stalled on the investigation into fast and furious, Benghazi and Obamacare. He’s intentionally weakening and gutting our military, Pentagon and reducing us as a superpower, and anyone in the ranks who disagrees or speaks out is being purged.”
-Retired Army Major General Patrick Brady: “There is no doubt he (Obama) is intent on emasculating the military and will fire anyone who disagrees with him.”
-Retired Army Lt. General William G. “Jerry” Boykin: “Over the past three years, it is unprecedented for the number of four-star generals to be relieved of duty, and not necessarily relieved for cause.”
-Retired Navy Captain Joseph John: “I believe there are more than 137 officers who have been forced out or given bad evaluation reports so they will never make Flag (officer), because of their failure to comply to certain views.”
According to the Blaze, one anonymous Pentagon official has said that even young officers have been told “not to talk about Obama or the politics of the White House”…
A Pentagon official who asked to remain nameless because they were not authorized to speak on the matter said even “young officers, down through the ranks have been told not to talk about Obama or the politics of the White House. They are purging everyone and if you want to keep your job — just keep your mouth shut.”
Now this trend appears to be accelerating.  We have seen a whole bunch of news stories about military officers being dismissed lately.
Almost always, a “legitimate reason” is given for the dismissal.  And without a doubt, if a military officer is actually behaving unethically, that officer should be held accountable.

However, the reality is that everyone has “skeletons in the closet”, and if you really want to get rid of someone it is usually not too hard to find a way to justify your decision.
The following are excerpts from three news stories about military officers in trouble that have come out so far in 2014…
#1 The Air Force Times: A group of former Air Force majors, forced out this summer by a noncontinuation board, plans to file a lawsuit claiming the service had no right to separate them simply to meet end-strength numbers set by Congress.
More than 10 of the 157 dismissed majors are banding together to challenge the move in court, seeking either reinstatement or early retirement pay. All 157 had been twice passed over for promotion and were within six years of retirement.
#2 Defense News: Acting US Navy Undersecretary Robert Martinage, the department’s No. 2, has resigned under pressure, sources confirmed for Defense News.
The resignation, which Martinage announced to his staff Tuesday morning, came after allegations were made of inappropriate conduct with a subordinate woman, the sources confirmed.
#3 Huffington Post: The Air Force says 34 nuclear missile launch officers have been implicated in a cheating scandal and have been stripped of their certification in what is believed to be the largest such breach of integrity in the nuclear force.
Some of the officers apparently texted to each other the answers to a monthly test on their knowledge of how to operate the missiles. Others may have known about it but did not report it.
The cheating was discovered during a drug investigation that involves 11 Air Force officers across six bases in the U.S. and England.
—–
Taken alone, it would be easy to dismiss those stories as “coincidences”.  But when you put them together with the stories of dozens of other high ranking military officers that have been purged from the U.S. military in recent years, a very disturbing pattern emerges.
The following is a list of high ranking military officers that have been dismissed over the past few years that has been circulating all over the Internet.  I think that you will agree that this list is quite stunning…
Commanding Generals fired:
  • General John R. Allen-U.S. Marines Commander International Security Assistance Force [ISAF] (Nov 2012)
  • Major General Ralph Baker (2 Star)-U.S. Army Commander of the Combined Joint Task Force Horn in Africa (April 2013)
  • Major General Michael Carey (2 Star)-U.S. Air Force Commander of the 20th US Air Force in charge of 9,600 people and 450 Intercontinental Ballistic Missiles (Oct 2013)
  • Colonel James Christmas-U.S. Marines Commander 22nd Marine Expeditionary Unit & Commander Special-Purpose Marine Air-Ground Task Force Crisis Response Unit (July 2013)
  • Major General Peter Fuller-U.S. Army Commander in Afghanistan (May 2011)
  • Major General Charles M.M. Gurganus-U.S. Marine Corps Regional Commander of SW and I Marine Expeditionary Force in Afghanistan (Oct 2013)
  • General Carter F. Ham-U.S. Army African Command (Oct 2013)
  • Lieutenant General David H. Huntoon (3 Star), Jr.-U.S. Army 58th Superintendent of the US Military Academy at West Point, NY (2013)
  • Command Sergeant Major Don B Jordan-U.S. Army 143rd Expeditionary Sustainment Command (suspended Oct 2013)
  • General James Mattis-U.S. Marines Chief of CentCom (May 2013)
  • Colonel Daren Margolin-U.S. Marine in charge of Quantico’s Security Battalion (Oct 2013)
  • General Stanley McChrystal-U.S. Army Commander Afghanistan (June 2010)
  • General David D. McKiernan-U.S. Army Commander Afghanistan (2009)
  • General David Petraeus-Director of CIA from September 2011 to November 2012 & U.S. Army Commander International Security Assistance Force [ISAF] and Commander U.S. Forces Afghanistan [USFOR-A] (Nov 2012)
  • Brigadier General Bryan Roberts-U.S. Army Commander 2nd Brigade (May 2013)
  • Major General Gregg A. Sturdevant-U.S. Marine Corps Director of Strategic Planning and Policy for the U.S. Pacific Command & Commander of Aviation Wing at Camp Bastion, Afghanistan (Sept 2013)
  • Colonel Eric Tilley-U.S. Army Commander of Garrison Japan (Nov 2013)
  • Brigadier General Bryan Wampler-U.S. Army Commanding General of 143rd Expeditionary Sustainment Command of the 1st Theater Sustainment Command [TSC] (suspended Oct 2013)
Commanding Admirals fired:
  • Rear Admiral Charles Gaouette-U.S. Navy Commander John C. Stennis Carrier Strike Group Three (Oct 2012)
  • Vice Admiral Tim Giardina(3 Star, demoted to 2 Star)-U.S. Navy Deputy Commander of the US Strategic Command, Commander of the Submarine Group Trident, Submarine Group 9 and Submarine Group 10 (Oct 2013)
Naval Officers fired: (All in 2011)
  • Captain David Geisler-U.S. Navy Commander Task Force 53 in Bahrain (Oct 2011)
  • Commander Laredo Bell-U.S. Navy Commander Naval Support Activity Saratoga Springs, NY (Aug 2011)
  • Lieutenant Commander Kurt Boenisch-Executive Officer amphibious transport dock Ponce (Apr 2011)
  • Commander Nathan Borchers-U.S. Navy Commander destroyer Stout (Mar 2011)
  • Commander Robert Brown-U.S. Navy Commander Beachmaster Unit 2 Fort Story, VA (Aug 2011)
  • Commander Andrew Crowe-Executive Officer Navy Region Center Singapore (Apr 2011)
  • Captain Robert Gamberg-Executive Officer carrier Dwight D. Eisenhower (Jun 2011)
  • Captain Rex Guinn-U.S. Navy Commander Navy Legal Service office Japan (Feb 2011)
  • Commander Kevin Harms- U.S. Navy Commander Strike Fighter Squadron 137 aboard the aircraft carrier Abraham Lincoln (Mar 2011)
  • Lieutenant Commander Martin Holguin-U.S. Navy Commander mine countermeasures Fearless (Oct 2011)
  • Captain Owen Honors-U.S. Navy Commander aircraft carrier USS Enterprise (Jan 2011)
  • Captain Donald Hornbeck-U.S. Navy Commander Destroyer Squadron 1 San Diego (Apr 2011)
  • Rear Admiral Ron Horton-U.S. Navy Commander Logistics Group, Western Pacific (Mar 2011)
  • Commander Etta Jones-U.S. Navy Commander amphibious transport dock Ponce (Apr 2011)
  • Commander Ralph Jones-Executive Officer amphibious transport dock Green Bay (Jul 2011)
  • Commander Jonathan Jackson-U.S. Navy Commander Electronic Attack Squadron 134, deployed aboard carrier Carl Vinson (Dec 2011)
  • Captain Eric Merrill-U.S. Navy Commander submarine Emory S. Land (Jul 2011)
  • Captain William Mosk-U.S. Navy Commander Naval Station Rota, U.S. Navy Commander Naval Activities Spain (Apr 2011)
  • Commander Timothy Murphy-U.S. Navy Commander Electronic Attack Squadron 129 at Naval Air Station Whidbey Island, WA (Apr 2011)
  • Commander Joseph Nosse-U.S. Navy Commander ballistic-missile submarine Kentucky (Oct 2011)
  • Commander Mark Olson-U.S. Navy Commander destroyer The Sullivans FL (Sep 2011)
  • Commander John Pethel-Executive Officer amphibious transport dock New York (Dec 2011)
  • Commander Karl Pugh-U.S. Navy Commander Electronic Attack Squadron 141 Whidbey Island, WA (Jul 2011)
  • Commander Jason Strength-U.S. Navy Commander of Navy Recruiting District Nashville, TN (Jul 2011)
  • Captain Greg Thomas-U.S. Navy Commander Norfolk Naval Shipyard (May 2011)
  • Commander Mike Varney-U.S. Navy Commander attack submarine Connecticut (Jun 2011)
  • Commander Jay Wylie-U.S. Navy Commander destroyer Momsen (Apr 2011)
Naval Officers fired: (All in 2012):
  • Commander Alan C. Aber-Executive Officer Helicopter Maritime Strike Squadron 71 (July 2012)
  • Commander Derick Armstrong- U.S. Navy Commander missile destroyer USS The Sullivans (May 2012)
  • Commander Martin Arriola- U.S. Navy Commander destroyer USS Porter (Aug 2012)
  • Captain Antonio Cardoso- U.S. Navy Commander Training Support Center San Diego (Sep 2012)
  • Captain James CoBell- U.S. Navy Commander Oceana Naval Air Station’s Fleet Readiness Center Mid-Atlantic (Sep 2012)
  • Captain Joseph E. Darlak- U.S. Navy Commander frigate USS Vandegrift (Nov 2012)
  • Captain Daniel Dusek-U.S. Navy Commander USS Bonhomme
  • Commander David Faught-Executive Officer destroyer Chung-Hoon (Sep 2012)
  • Commander Franklin Fernandez- U.S. Navy Commander Naval Mobile Construction Battalion 24 (Aug 2012)
  • Commander Ray Hartman- U.S. Navy Commander Amphibious dock-landing ship Fort McHenry (Nov 2012)
  • Commander Shelly Hakspiel-Executive Officer Navy Drug Screening Lab San Diego (May 2012)
  • Commander Jon Haydel- U.S. Navy Commander USS San Diego (Mar 2012)
  • Commander Diego Hernandez- U.S. Navy Commander ballistic-missile submarine USS Wyoming (Feb 2012)
  • Commander Lee Hoey- U.S. Navy Commander Drug Screening Laboratory, San Diego (May 2012)
  • Commander Ivan Jimenez-Executive Officer frigate Vandegrift (Nov 2012)
  • Commander Dennis Klein- U.S. Navy Commander submarine USS Columbia (May 2012)
  • Captain Chuck Litchfield- U.S. Navy Commander assault ship USS Essex (Jun 2012)
  • Captain Marcia Kim Lyons- U.S. Navy Commander Naval Health Clinic New England (Apr 2012)
  • Captain Robert Marin- U.S. Navy Commander cruiser USS Cowpens (Feb 2012)
  • Captain Sean McDonell- U.S. Navy Commander Seabee reserve unit Naval Mobile Construction Battalion 14 FL (Nov 2012)
  • Commander Corrine Parker- U.S. Navy Commander Fleet Logistics Support Squadron 1 (Apr 2012)
  • Captain Liza Raimondo- U.S. Navy Commander Naval Health Clinic Patuxent River, MD (Jun 2012)
  • Captain Jeffrey Riedel- Program manager, Littoral Combat Ship program (Jan 2012)
  • Commander Sara Santoski- U.S. Navy Commander Helicopter Mine Countermeasures Squadron 15 (Sep 2012)
  • Commander Kyle G. Strudthoff-Executive Officer Helicopter Sea Combat Squadron 25 (Sep 2012)
  • Commander Sheryl Tannahill- U.S. Navy Commander Navy Operational Support Center [NOSC] Nashville, TN (Sep 2012)
  • Commander Michael Ward- U.S. Navy Commander submarine USS Pittsburgh (Aug 2012)
  • Captain Michael Wiegand- U.S. Navy Commander Southwest Regional Maintenance Center (Nov 2012)
  • Captain Ted Williams- U.S. Navy Commander amphibious command ship Mount Whitney (Nov 2012)
  • Commander Jeffrey Wissel- U.S. Navy Commander of Fleet Air Reconnaissance Squadron 1 (Feb 2012)
Naval Officers fired: (All in 2013):
  • Lieutenant Commander Lauren Allen-Executive Officer submarine Jacksonville (Feb 2013)
  • Reserve Captain Jay Bowman-U.S. Navy Commander Navy Operational Support Center [NOSC] Fort Dix, NJ (Mar 2013)
  • Captain William Cogar-U.S. Navy Commander hospital ship Mercy’s medical treatment facility (Sept 2013)
  • Commander Steve Fuller-Executive Officer frigate Kauffman (Mar 2013)
  • Captain Shawn Hendricks-Program Manager for naval enterprise IT networks (June 2013)
  • Captain David Hunter-U.S. Navy Commander of Maritime Expeditionary Security Squadron 12 & Coastal Riverine Group 2 (Feb 2013)
  • Captain Eric Johnson-U.S. Navy Chief of Military Entrance Processing Command at Great Lakes Naval Training Center, IL (2013)
  • Captain Devon Jones-U.S. Navy Commander Naval Air Facility El Centro, CA (July 2013)
  • Captain Kevin Knoop-U.S. Navy Commander hospital ship Comfort’s medical treatment facility (Aug 2013)
  • Lieutenant Commander Jack O’Neill-U.S. Navy Commander Operational Support Center Rock Island, IL (Mar 2013)
  • Commander Allen Maestas-Executive Officer Beachmaster Unit 1 (May 2013)
  • Commander Luis Molina-U.S. Navy Commander submarine Pasadena (Jan 2013)
  • Commander James Pickens-Executive Officer frigate Gary (Feb 2013)
  • Lieutenant Commander Mark Rice-U.S. Navy Commander Mine Countermeasures ship Guardian (Apr 2013)
  • Commander Michael Runkle-U.S. Navy Commander of Mobile Diving and Salvage Unit 2 (May 2013)
  • Commander Jason Stapleton-Executive Office Patrol Squadron 4 in Hawaii (Mar 2013)
  • Commander Nathan Sukols-U.S. Navy Commander submarine Jacksonville (Feb 2013)
  • Lieutenant Daniel Tyler-Executive Officer Mine Countermeasures ship Guardian (Apr 2013)
  • Commander Edward White-U.S. Navy Commander Strike Fighter Squadron 106 (Aug 2013)
  • Captain Jeffrey Winter-U.S. Navy Commander of Carrier Air Wing 17 (Sept 2013)
  • Commander Thomas Winter-U.S. Navy Commander submarine Montpelier (Jan 2013)
  • Commander Corey Wofford- U.S. Navy Commander frigate Kauffman (Feb 2013)
So what do you think about all of this?
Do you believe that a “purge” of high ranking military officers is taking place?
Please feel free to share what you think by posting a comment below…