Why the Rich Love High Unemployment

Mark Provost  
Dissident Voice

Christina Romer, former member of President Obama's Council of Economic Advisors, accuses the administration of "shamefully ignoring" the unemployed. Paul Krugman echoes her concerns, observing that Washington has lost interest in "the forgotten millions." America's unemployed have been ignored and forgotten, but they are far from superfluous. Over the last two years, out-of-work Americans have played a critical role in helping the richest one percent recover trillions in financial wealth.

Obama's advisers often congratulate themselves for avoiding another Great Depression – an assertion not amenable to serious analysis or debate. A better way to evaluate their claims is to compare the US economy to other rich countries over the last few years.

On the basis of sustaining economic growth, the United States is doing better than nearly all advanced economies. From the first quarter of 2008 to the end of 2010, US gross domestic product (GDP) growth outperformed every G-7 country except Canada.

Staged Government Terror: An Open Admission Within The British House of Lords

Image / Telegraph

Brandon Turbeville
Activist Post

If there was any doubt that governments fund terror and stage false flag attacks against themselves, that doubt should be erased by a recent exchange within the British House of Lords.  In addressing his peers in the House, Lord James of Blackheath revealed that he had been involved in the laundering of billions of pounds of terrorist money, specifically that of the IRA and various North African terrorists at the behest of the Bank of England. James also explained that he had been contacted by a secretive organization that was offering to help Britain pay off its extraordinary debt.

The debt question was actually what prompted such an unbelievable admission of guilt by Lord James in the first place. Initially, he announced that he had been contacted by a very “strange” and secretive organization that wanted to “make a great deal of money available to assist the recovery of the economy” in England. After relaying this to a colleague in the House of Lords, Lord James was apparently told he was not important enough to be contacted by this organization, a statement which James evidently took personally. In response to his fellow Lord’s statement that he didn’t have the experience to deal with this agency, which is apparently secret to everyone except those deep in the Know, James’ response was remarkable.

“Yes I do,” he said. “I have had one of the biggest experiences in the laundering of terrorist money and funny money that anyone has had in the City. I have handled billions of pounds of terrorist money.”

When asked by the Baroness Hollis of Heigham where the money went to, he explained further:

Not into my pocket. My biggest terrorist client was the IRA and I am pleased to say that I managed to write off more than £1 billion of its money. I have also had extensive connections with North African terrorists, but that was of a far nastier nature, and I do not want to talk about that because it is still a security issue.

James went even further after making these remarks, implicating the Bank of England in the funding of terrorists as well. “I hasten to add that it is no good getting the police in, because I shall immediately call the Bank of England as my defense witness, given that it put me in to deal with these problems.”


While the idea that the Bank of England, the House of Lords, and other governmental institutions fund the very terrorists they claim to be so afraid of is not surprising at all; it is only surprising to see such open discussion of it in public. Britain has devolved into a police state in recent years under the guise of fighting terrorism, yet their own governmental and banking institutions openly admit to funding these terrorists. This is a clear case of the Problem-Reaction-Solution technique that has been so successful for governments and societal leaders for thousands of years.

But James’ comments do not end there. “The point is,” he says, “that when I was in the course of doing this strange activity, I had an interesting set of phone numbers and references that I could go to for help when I needed it. So people in the City have known that if they want to check out anything that looks at all odd, they can come to me and I can press a few phone numbers to obtain a reference.” James does not expound upon who these contacts actually are, but they are undoubtedly very well-connected and powerful people if they can be called upon to corroborate and provide references for such internal affairs such as those being discussed by Lord James.

Yet James’ comments reveal even more secretive activity when he begins to discuss the shadowy organization, Foundation X as he calls it, that allegedly contacted him with the proposal to aid England in the payment of its debt. Undoubtedly, the stature of Foundation X ranks higher than any organization we are currently aware of. As Lord James attempted to connect Foundation X with the appropriate individuals within the House of Lords and the Bank of England he says, “I found myself between a rock and a hard place that were totally paranoid about each other, because the foundation X people have an amazing obsession with their own security. They expect to be contacted only by someone equal to head of state status or someone with an international security rating equal to the top six people in the world.”

James is clearly describing some very powerful movers and shakers with tendencies toward elitism. They are obviously accustomed to being contacted by individuals very high up in the social structure and they are unappreciative when addressed by the lower stratum. Yet when members of the Bank of England and the British House of Lords are considered lower members of society, just how high do the Foundation X people go? While bloggers have suggested that the mystery organization may be the United Nations Office of International Treasury Control (UNOITC), and some have even hinted at the Vatican, Lord James has made it clear that Foundation X, whoever they may be, are “still effectively on the gold standard from back in the 1920s and that their entire currency holdings throughout the world,  which were very large, were backed by bullion.” This means that “a figure for the amount of bullion that would be needed to cover their currency reserves, as claimed, which would be more than the entire value of bullion that had ever been mined in the history of the world.” According to Lord James, Foundation X is willing to loan the British government billions of pounds for projects as diverse as hospitals, schools, and crossrails.

Regardless of the final outcome of the Foundation X loan discussion, its offer has at the very least provoked an astonishing admission from a member of the British House of Lords. A government that openly admits funding terrorism, which is aimed at its own population, and then considers business deals with shadowy financial organizations without informing them should provoke widespread outrage. But, given the current state of affairs in England, it probably won’t.

Works Cited 
“Conservative Peer Lord James of Blackheath: I’m a money washer, not a money launderer.” Belfastetelegraph.co.uk. November 4, 2010. http://www.belfasttelegraph.co.uk/news/local-national/northern-ireland/conservative-peer-lord-james-of-blackheath-im-a-money-washer-not-a-money-launderer-14995248.html

Brandon Turbeville is an author out of Mullins, South Carolina. He has a Bachelor’s Degree from Francis Marion University where he earned the Pee Dee Electric Scholar’s Award as an undergraduate. He has had numerous articles published dealing with a wide variety of subjects including health, economics, and civil liberties. He also the author of Codex Alimentarius - The End of Health Freedom 

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Pessimism pervades as G20 leaders show sharp split

Jean H. Lee
Associated Press

SEOUL, South Korea — A strong sense of pessimism shrouded the start of an economic summit of rich and emerging economies Thursday, with President Barack Obama and fellow world leaders arriving in Seoul sharply divided over currency and trade policies.

The Group of 20 summit, held for the first time in Asia, has become the centerpiece of international efforts to revive the global economy and prevent future financial meltdowns.

Hopes had been high that the Group of 20 – encompassing rich nations such as Germany and the U.S. as well as growing giants such as China and Brazil – could be the world forum for hashing out an economic way forward from financial crisis.


But agreement appeared elusive as the summit began, divided between those such as United States that want to get China to allow its currency rise and those irate over U.S. Federal Reserve plans to pump $600 billion of new money into the sluggish American economy, effectively devaluing the dollar.

Obama told fellow leaders that the U.S. cannot remain a profligate consumer using borrowed money and needs other countries to pull their weight to fix the world economy.

"The most important thing that the United States can do for the world economy is to grow, because we continue to be the world's largest market and a huge engine for all other countries to grow," Obama said at a news conference.

Brazil's president, Luiz Inacio Lula da Silva, warned that such policies would "bankrupt" the world.

"If the rich countries are not consuming and want to grow its economy on exports, the world goes bankrupt because there would be no one to buy," he told reporters. "Everybody would like to sell."

Concerns about trade gaps, protectionism and a currency war threatened to overtake momentum for forming global solutions to the financial crisis created at last year's London summit.

So far, officials can't even agree on the agenda, much less a draft statement. Government ministers and senior G-20 officials have labored for days without success to come up with a substantive joint statement to be issued Friday, G-20 summit spokesman Kim Yoon-kyung said.

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Jon Stewart’s Older Brother, Larry Leibowitz, Is ‘COO’ Of The NYSE

The Tonka Report

Not as many people are aware of it as should be, but Jon Stewart’s older brother, Larry Leibowitz, is the Chief Operating Officer (COO) of the New York Stock Exchange (NYSE).

Mr. Leibowitz was appointed chief operating officer in the first quarter of 2010. In this capacity, he (Leibowitz) is responsible for all the operations management, global cash execution and global listings.

He previously served as group executive vice president and head of U.S. Execution and Global Technology from 2007 until 2009. He joined NYSE Euronext in 2007, having served as managing director and chief operating officer, Americas Equities, at UBS Investment Bank.

Prior to joining UBS in 2004, Mr. Leibowitz held the position of executive vice president, co-head of Schwab Capital Markets. He currently serves on the board of National Stock Exchange of India and has also served on many industry boards and committees, among them the Market Structure Committee of the former Securities Industry Association (now SIFMA).

As stated above, Leibowitz was also formerly managing director and chief operating officer at UBS, “the leading global wealth manager, a leading global investment banking and securities firm, and one of the largest global asset managers”, as they describe themselves. A rather influential man, indeed.

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