The Noble Lie: LEO STRAUSS; the neo-conservatives and the March 14 Leadership,

[Mar1K]

Originally Posted by J. Abizeid

House of Cards:
A BIG Noble lie:


CNBC aired just recently a 90 min documentary titled House of Cards.
http://www.cnbc.com/id/15840232?video=1145392808&play=1
It is an eye opener explaining the inevitable collapse of the US economy that triggered the global economic downturn as a result.
It might also be entertaining to learn about Daniel Sadek (Redline movie) the almost illiterate Lebanese kid who emigrated to the US and worked at a gas station soon to become a multimillionaire earning about $50 millions a month through the sub prime mortgage financing supported and encouraged by Wall Street and the neo conservative Bush administration through its obedient ex treasury chairman Allen Greenspan.
http://www.dfwdriveyourdream.com/daily-news.php?id=123
http://images.google.com/images?sourceid=navclient&rlz=1T4GGLL_enUS324US324 &q=daniel+sadek&um=1&ie=UTF-8&ei=zOG_Svr0GIzQsgOI4uVR&sa=X&oi=image_result_gro up&ct=title&resnum=4

The Noble lie in this episode is making the American homeowners believe their homes are cash cows that will always appreciate in value at an averages of 20 to 25% a year (so if they don’t own one they better hurry up) and encourage them to refinance every few months and take their cash out so they can go shopping and stay busy from asking the Bush administration what they are doing in Iraq and for what reason the US troops are dying there.
In order to qualify for such huge amounts of mortgage loans, lenders encouraged their borrowers to lie about their income and gave them temporary low interest rates. The fake low monthly payments on homes drove their values to artificially mushroom so Bush can talk about Saddam’s mushroom cloud and invade his country with the support of the American shoppers.
In the documentary, Greenspan said he could no longer control the momentum of the bubble. He sounded as if we would have preferred to slow it down and have it burst during the Obama administration instead… They were not that lucky….
The BIG lie lies in where Wall Street came up with the money to lend it to the American homeowners; the documentary explains how they packaged the sub prime borrowers loans and stamped them with a fake 5 star high rating and sold them to Asia Europe and the rest of the world as prime, low risk loans. In other word, they cheated the world and got away with it up to certain extent…

Today, the world is patching its wounds by working hard saving and reinvesting their money else where but many Americans are still under the impression the world can’t wait to lend them more money as soon as they can.

Very nice video.

I am wondering, how many maddoffs is it going to take for WALL street and the SEC to collapse on itself... Would they be able to pick it up in time?

How smart was slowing down the burst ay... but how evil...

[J. Abizeid]

Originally Posted by Mar1K

Very nice video.

I am wondering, how many maddoffs is it going to take for WALL street and the SEC to collapse on itself... Would they be able to pick it up in time?

How smart was slowing down the burst ay... but how evil...

Bush himself said Wall Street got drunk but he had no idea his own administration did it in the hopes by the time the party is over the Iraq war would have been won, Iran, Venezuela and the rest of the OPEC countries would have been secured under the petrodollar umbrella. In other words, the euro would have been worth 50 cents today; Europe, Japan and the rest of the industrialized world would be begging the US to print them dollars so they can buy their oil.
Had their venture succeeded, Bush would have gone down in history as the man who saved and reinvented the US Empire. He doesn’t even know that but his creators do.
History will attribute their failure to their greed, ignorance and arrogance but “Old Europe” is laughing all the way to the bank. It’s up to them and China to save Wall Street now as long as they promise to stop spreading the neo conservative version of democracy to the oil producing countries.

[Mar1K]

Originally Posted by J. Abizeid

Bush himself said Wall Street got drunk but he had no idea his own administration did it in the hopes by the time the party is over the Iraq war would have been won, Iran, Venezuela and the rest of the OPEC countries would have been secured under the petrodollar umbrella. In other words, the euro would have been worth 50 cents today; Europe, Japan and the rest of the industrialized world would be begging the US to print them dollars so they can buy their oil.
Had their venture succeeded, Bush would have gone down in history as the man who saved and reinvented the US Empire. He doesn’t even know that but his creators do.
History will attribute their failure to their greed, ignorance and arrogance but “Old Europe” is laughing all the way to the bank. It’s up to them and China to save Wall Street now as long as they promise to stop spreading the neo conservative version of democracy to the oil producing countries.

J. Can we get some info on the part in red? It is actually very interesting. Maybe videos by credible men (i am not doubting your credibility at all here), books, articles so we can pass them on...

[J. Abizeid]

Originally Posted by Mar1K

J. Can we get some info on the part in red? It is actually very interesting. Maybe videos by credible men (i am not doubting your credibility at all here), books, articles so we can pass them on...

I think you forgot to highlight in red your subject of interest.
I’ll be more than happy to share my sources with you because what I write is not an opinion or wishful thinking; unfortunately, it’s the painful truth based on research from independent sources that the ignorant call it liberal sources.
Check out what Peter Schiff (who happens to be an honest republican criticizing Bush back then and accusing Obama of staying the same course as Bush) said about the US economy in 2006.
I’m about to publish a new thread titled: The Iraq Invasion: “A Moral Bankruptcy followed by an Economic one” I think you’ll be interested I reading some of the Middle Eastern history since the end of the British empire through the beginning of the end of the American one.

[ius]

Originally Posted by J. Abizeid

Bush himself said Wall Street got drunk but he had no idea his own administration did it in the hopes by the time the party is over the Iraq war would have been won, Iran, Venezuela and the rest of the OPEC countries would have been secured under the petrodollar umbrella. In other words, the euro would have been worth 50 cents today; Europe, Japan and the rest of the industrialized world would be begging the US to print them dollars so they can buy their oil.
Had their venture succeeded, Bush would have gone down in history as the man who saved and reinvented the US Empire. He doesn’t even know that but his creators do.
History will attribute their failure to their greed, ignorance and arrogance but “Old Europe” is laughing all the way to the bank. It’s up to them and China to save Wall Street now as long as they promise to stop spreading the neo conservative version of democracy to the oil producing countries.

1) What the US needs is more jobs. A weaker dollar helps the US to export and creates jobs. That is why the Chinese are loath to float the yuan. They are afraid of unemployment and unrest as a consequence of that. A strong Yuan means unemployment in China. The same goes for the Euro and Europe.

2) "Old Europe" was one of the major investors in the ill fated mortgage backed securities. In the CNBC documentary there is the example of a scandinavian town that went bankrupt buying these bonds. Iceland went bankrupt. Did you ever stop and wonder who bought the mortgage backed securities? Some of it is held by US banks and institutions, but most of it by Europeans and Asians and they got shafted badly. You just do not read about it in the press.

3) The Chinese have 2 trillion or so of dollar denominated debt. They have the ultimate interest in keeping the dollar strong. The US on the other hand wants a weaker dollar and inflation so that in real terms the debt gets smaller.

4) Because of the above, the Chinese and the rest of the world are FORCED to buy treasuries as you can see from the fact that interest rates are so low. The Americans are the ones laughing all the way to the bank.

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