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Address
of Michael C. Ruppert For the Commonwealth
Club
America's
Black Budget And Manipulation Of
Markets
Unexplained
No advertising orders for January 2005
FAHRENHEIT 9/11, IRAQ
AND THE EMERGING WORLD GOVERNMENT
See also What's Going
On?
and Tools.
Enter the Fear
Mongers!
Here's news you can use!
Disclaimer: It is my desire to get important information out
to you.
This means that the most important
thing you can do for yourself is to be well informed. Armed
with information you can choose to do your part. Your part is taking personal
responsibility for what you do, the causes you support etc.
Remember that any time you let
yourself get extremely angry about this or any other
information, you have been used by the dark forces. Your energy moves through
you, and you feel exhausted. Learn to understand, and be able to
help others without letting fear overtake you.
The purpose of my putting this
information out there, is to help you sort through the maze of
information and to be well informed. A well informed public
will reach critical mass - and then positive change can occur.
Be clear, consistent and
honest. Do your best to
do the right thing.
Quit making excuses for yourself and then you won’t have to
tolerate excuses from others.
Remember Ghandi’s non-violent
opposition to the government.
He chose to make salt.
You can find your own non-violent
ways to oppose the status quo.
One of them is to learn to manifest outside of their system.
Take the Genie in the Bottle - Manifestation through Sacred Geometry
or read the book due out in 2005. Also review the tools list.
I will continue to add to this
page, and offer more information and commentary.
Love, Maureen
Please excuse the bad format. It was either this
or all capitals. - G.
http://www.fromthewilderness.com/PDF/Commonwealth.pdf
“the fifth revolution will come when we have spent the
stores of coal and oil that have been accumulating in the earth
during hundreds of millions of years. . . . It is to be hoped
that before then other sources of energy will have
been developed . . . But without considering the detail [here]
it is obvious that there will be a very great difference in ways
of life. . . . Whether a convenient substitute for the present
fuels is found or not, there can be no doubt that there will have
to be a great change in ways of life. This change may
justly be called a revolution, but it differs from all
the preceding ones in that there is no likelihood of
its leading to increases of population, but even perhaps to
the reverse.” Sir Charles Galton Darwin
Address
of Michael C. Ruppert For the Commonwealth Club –
San Francisco Tuesday august 31, 2004
Thank you for that gracious introduction.
Let me
begin by thanking Pat Lamken for inviting me to be here Today and
for her efforts to arrange – what is certainly For me – a
historic landmark in my 26 years of work to bring To light
information – vitally important, life and death, Information –
which has been virtually ignored by the Mainstream media. This
information has also remained Completely unaddressed or even
publicly acknowledged by Those elites in both America and the
world that determine And shape public policy and direct the
course of human Events. I say this with the full and complete
awareness that I am Tonight standing partially in the midst of
those elites and That those elites are listening. I have long
been aware of the stature and prestige of the Commonwealth club,
for its ability to attract some of the World’s most influential
speakers; also for its reputation For bi-partisanship; and
perhaps most importantly for its Willingness to present
conflicting or opposing viewpoints.
2 My appearance here
tonight no doubt marks a departure for The club even from that
inspiring record. With today’s remarks I intend to establish a
whole new Definition of “conflicting viewpoint.” I applaud the
club’s record and am mindful that, had it not Been for the
dangerous and epochal historical events Taking place around us, I
would never have been afforded Such an opportunity as this.
Because clearly, my writing and Public speaking have demonstrated
that where we are today Is exactly where I said we would be if
something fundamental Was not changed about how we both view the
world, and how We interact with it. Before preparing this
speech, of course, I did some research To see who had spoken here
before. I was happy to see that I follow on the heels of
such Notables as former CIA director James Woolsey and
two Members of the kean commission on 9/11: slade Gorton
and Richard ben-veniste. These are not people who I would
call “kindred spirits.” I also saw the name of homeland
security Secretary tom ridge and former treasury secretary
Robert Rubin. These are also leaders of whom I have been
sharply Critical in the past and will be sharply critical of in
the Future. I also saw names like john Kerry, john Edwards,
Dennis Kucinich, Joe Lieberman and Madeleine Albright.
3 My
record as a journalist and lecturer shows that I have Not
embraced, and have indeed been fiercely critical of, most Of
these opinion makers. While I am more inclined to find Kinship
with Dennis Kucinich, I also state categorically that No
political leader who does not address the real causes of The
problems facing us will ever be considered by me as a True
kindred soul – or as a political champion for the Future. Such
praise and endorsement I offer only to the likes of my Good
friend, the honorable Cynthia McKinney of Georgia, and To former
assistant secretary of housing Catherine Austin Fitts. I heartily
recommend them to the club as potential Speakers for future
events. I also saw the names of spiritual leaders and independent
or International voices like al Franken, Jane goodall,
Adrianna Huffington, the rabbi Michael Lerner, Norman mailer,
Ted Turner, Hans blix and king Abdullah II. In looking at this
long list of prestigious speakers I was Very aware that the
life’s work of Michael Rupert did not Place me in any category
that fit with these people. For the Most part – I have long
considered them to be part of a Serious problem rather than
pathfinders to its solution. That realization brought to mind
what was perhaps the Single most memorable line from the 1992
vice-presidential Debates in which Ross perot’s running mate,
retired navy Admiral James Stockdale – a medal of honor winner
and Vietnam POW – asked, “who am I?” And “why am I
here?”
4 I am not prone to over-analyzing such opportunities.
I have Always said that, if given the chance, I would walk into
the Lion’s den or the devil’s bedroom to make my case and that
is What I intend to do today. This is as close as I have come
thus Far to either. For here, I can see tonight parts of the
elite Whose consciousness and attitudes must be changed
if Humanity is to even partially meet the challenges that are
“in Our faces.” For any of you who might be either lions or
devils I hope that You have had a good meal recently and also
that you have Checked your pitchforks at the door. I also implore
that Your ears be open and your minds accessible. For those of
you who realize that a global crisis is casting Its shadow across
the entire planet, and who wish better to Understand its
dynamics, I am here to offer some of my Experience and learning
as a “mapmaker” who has no Allegiance to partisan politics or any
desire except to tell You the truth, no matter how disquieting it
may be, or how Divergent it may be from whatever cherished
beliefs you may Hold; from whatever cosmological principles you
may Believe in; or from whatever economic or other
personal Interests you may have. A spiritual teacher once told
me that my problem was not That I thought highly of myself; not
that I thought lowly of Myself; but that I thought constantly of
myself.
5 In that vein, Let us all tonight try to think of
issues larger than Ourselves, our personal interests, our wants,
or our fears. Viewed from almost any perspective; be it
geopolitics, Economics, climate, spreading warfare that threatens
to Unleash a global orgy of bloodletting, rising energy
prices, Documented energy shortages, fresh water
shortages, Biological warfare, the repression of civil liberties
at home And abroad, or any of a dozen other issues; planet earth
and All of its inhabitants are in great danger. This is not a
time To think of national security. It is a time to think
of Planetary security – indeed, of planetary survival. And I
must recognize also that I would never have been Afforded this
incredible opportunity to speak to you today, Had it not been for
the consistent support and generosity; The research and activism;
the courage and Disenfranchisement, and above all the loyalty of
all those People who have helped my newsletter, “from
the Wilderness”, grow in just six years from 68 to more
than 15,000 monthly readers worldwide. Today our web site
at www.fromthewilderness.com averages more than 12,000 Visitors a day. These
include members of congress, business and economic Leaders,
professors at more than 30 universities, respected Journalists,
and political leaders in many countries. If anything had an
impact on my thinking as I prepared these Remarks it was my
awareness that these loyal supporters Are the people on whose
behalf I presume to speak. It is their Voice and their
commitment which has given rise to my voice. I Could not and
would not be here were it not for them. But I also, if I may be
that bold, presume to speak for all Mankind, regardless of
religion, ethnicity, nationality, Gender, sexual preference, bank
account or any other Artificial distinction. This is no time
to be shy. This is not a time when men and women of good
conscience Can afford to be politically correct or be guided by
anything Except a willingness to discard every “cherished” belief
or Opinion which stands in the way of an accurate and
fearless Appraisal of the world around us.
6 As I have said so
many times in the last three years while Delivering more than 40
lectures on the truth and lies of 9/11 And peak oil, in eight
countries: the events in the five years Following the attacks of
September 11th will determine the Course of human history for the
next 500 years or more. I can only assume that the record of my
lectures and Writings, wherein I have come to be known as a man
who backs Up everything he says and presents it to his audiences
for Verification, had something to do with how the board
of Governors reached its decision to extend this
invitation. For many years now not a single fact, citation or
piece of Evidence, presented in my lectures, or in my
best-selling Video, “the truth and lies of 9/11” has been proved
inaccurate.
7 I am known as a man who does not expect people
to take his Word on faith but who asks and even expects people
to Challenge his research, evaluate it, and reach their
own Conclusions. Operating under the assumption that the past
credibility of My research has produced a record which got me in
the door At the commonwealth club, I am today, in the interest of
time And for maximum impact, going to dispense with my
customary Slide presentation. I fully expect that anyone
who Challenges or disagrees with my assertions will go out
and Do some checking for him or her self. Almost everything I
present to you today will be fully Documented – by means of
approximately 1,000 endnotes – in My soon to be released book,
“crossing the Rubicon: the Decline of the American empire at the
end of the age of oil.” The book, published by new society
publishers, should be Available for sale from the FTW web site
within 2-3 weeks and It will go on sale nationally, through all
major outlets, by Mid-October. September 11th Both here in
the united states and around the world I am not Alone in
believing that the attacks of September 11th were Facilitated,
orchestrated and executed by the united states Government.
However, there is a great deal of Misunderstanding and conclusion
jumping about these Assessments that is not supported by the
evidence.
8 I was Trained as a police officer and detective,
and for many years Now I have been an effective investigative
journalist because I have adhered to strict evidentiary and
investigative Standards. The 9/11 attacks were the result of
deliberate planning and Orchestrated efforts by identifiable
leaders within the U.S. Government, and the energy and financial
sectors, to see a Pearl harbor-like attack which would provide
the American Empire with a pretext for war, invasion and the
sequential Confiscation of oil and natural gas reserves, or the
key Transportation routes through which they pass. 9-11 was
a Premeditated murder and in my book, and here tonight, I
will Name some of the suspects who committed the crime. In
my Book I will show you overwhelming evidence of their
guilt Which I would be proud and confident to place either
before A district attorney or a jury. Historically, the
assertion that the united states Government would orchestrate an
attack upon American Interests has ample precedent. Former
national security Advisor zbigniew brzezinski described the need
for such an Event in several places in his 1997 book “the
grand Chessboard.” It was I who first brought this book to
world Attention in late 2001. The project for a new
American Century made reference to the need for such an attack in
its 2000 report “rebuilding America's defenses.” Declassified
top Secret documents disclosed by author James bamford in
his Book, “body of secrets” tell us that in 1962 the joint
chiefs Had approved a plan called “operation northwoods”
which Was a covert operation that would shoot down
American Aircraft and stage attacks on American military
facilities With the intent of blaming those attacks on Fidel
Castro and Prompting the subsequent us invasion and occupation
of Cuba.
9 The declassified northwoods documents can be seen
and Downloaded from the FTW web site. But once viewed,
they Cannot be ignored. Therefore it cannot be said that such
a thing has never been Conceived of or carried out by American
political leaders. From the sinking of the battleship Maine, to
the gulf of Tonkin, and indeed, even to pearl harbor itself,
history today Provides us with abundant documentation of us
government Complicity in varying degrees in similar attacks. The
book “day of deceit” and other records from the national
archives Have shown us that the Roosevelt administration had
broken The Japanese codes well before December 7th, and that
a Conscious decision was made to allow the attack on
pearl Harbor to take place. This was intended to provide
the Necessary impetus for us entry into the second world
war At a time when great Britain was buckling under the
military Blitzkrieg, aerial bombing and u-boat warfare of the
third Reich. Crossing the Rubicon is a detective story that
gets to the Innermost core of the 9/11 attacks. It places 9/11 at
the Center of a desperate new America, created by
specific, Named individuals in preparation for peak oil: an
economic Crisis like nothing the world has ever
seen.
10 Simply defined, peak oil is that moment in time when
global oil – and natural gas – production begins an irreversible
and Permanent decline which will not yield or give
way Regardless of how much money and effort is spent trying
to Change it. With demand still accelerating rapidly in both
the us and the Industrialized and developing world, the arrival
of peak oil Literally describes a point of overshoot in which
economic And ecological stasis – let alone growth –
becomes Unsustainable. Over the course of the last three
years, “from the wilderness” has pioneered the investigation
and Documentation of this crisis. With the invaluable
research And writing of FTW's energy editor dale Allen Pfeiffer,
a Geologist, and through my own travels and research in
the Us, France and Germany, we have drawn upon the
expertise Of those with decades of experience in the oil industry
(many Of whom have left it), independent scientists and
academics Having no connection to the energy industry, business
and Financial leaders, international bodies such as
the International energy agency, and actual world events
to Draw attention to what is the single most serious
threat Facing mankind in its entire history. It is my belief,
as I speak to you tonight that planet earth is – Plus or minus
one year – at the all time peak of hydrocarbon Energy production.
Simply put, we have used half of all the Oil god placed on this
planet, and every drop, every barrel Extracted from the ground
from now on will become Progressively more expensive, of lesser
quality, and much Harder to obtain. We have picked the low
hanging fruit.
11 As All experts agree, peak is something we
will only know of a Certainty as we view it in our rear view
mirrors. The attacks of September 11th, 2001 were the pretext for
the American, and to a lesser extent, the British and
Israeli Empires to begin seizing, by force, those energy
supplies Needed to sustain their power, hegemony (whether
regional Or global) and their teetering economies. The attacks
of 9/11 were accomplished through an amazing Orchestration of
logistics and personnel. Former national Security aide and
counter-terror advisor Richard Clarke Has postulated that such a
conspiracy could never be kept a Secret. Too many people would
have been involved, he said. On this point I disagree with Clarke
completely and point to The fact that the Manhattan project,
which developed the Atom bomb and the stealth fighter project
were both Successfully kept secret. The numbers of people
involved in Both of those projects far exceeded the numbers of
people Within the united states government required to
execute 9/11. However, I must express a deep debt of gratitude
to Clarke. For in his book “against all enemies” he left a
compelling trail Of bread crumbs, contradictions to the sworn
testimony of Our highest leaders, and hard evidence which
provided me With much of the information needed to say that not
only Can I name some of the us government officials
who Perpetrated those attacks, I can also identify the
prime Suspect – or Mr.. Big – who played the command role
in Executing them.
12 Mr. Clarke is not a stupid man and I can
only Conclude that he left those crumbs for others to
find. All of this of course stands in stark contrast to the
report Of the so-called independent commission which
investigated Those attacks. Before I start naming names, let me
first take A look at why absolutely nothing presented by the
kean Commission can, or should, be accepted without
challenge. The kean commission A recent story in the
Minneapolis star tribune reported on How one us senator, mark
Dayton of Minnesota, found some Egregious inconsistencies in the
final report of the kean Commission. The story said that during a
recent hearing Evaluating the kean report: “Dayton told
leaders of the Sept. 11 commission that, Based on the
commission's report, a NORAD Chronology made public a week after
the attacks Was grossly misleading. The chronology said the
FAA Notified the military's emergency air command of Three of
the hijackings while those jetliners were Still airborne. Dayton
cited commission findings that The FAA failed to inform NORAD
about three of the Planes until after they had crashed. “and,
he said, a squadron of NORAD fighter planes That was scrambled
was sent east over the Atlantic Ocean and was 150 miles from
Washington, D.C., when The third plane struck the pentagon
– ‘farther than They were before they took off.’ “Dayton said
NORAD officials ‘lied to the American People, they lied to
congress and they lied to your 9/11 commission to create a false
impression of Competence, communication and protection of
the American people.’ he told kean and Hamilton that if The
commission's report is correct, president bush ‘should fire
whoever at FAA, at NORAD ... Betrayed Their public trust by not
telling us the truth.’”
13 What senator Dayton did not fully focus
on was that, just a Few short weeks before releasing its final
report, the kean Commission unilaterally changed the times of
certain key Events, negating and overruling testimony and
evidence Presented under oath, without having received a single
new Piece of evidence – either formally or informally –
that Contradicted or changed the evidence already
received. I’m sure that there are some attorneys in the room
tonight. I Wonder how many of you would acquiesce to the judge in
a Criminal trial submitting and ruling on evidence that
neither The defense nor prosecution had presented during trial,
but Which the judge had somehow produced, without Explanation,
from his or her chambers. How would you react If the judge then
ruled on the basis of that evidence, making No attempt to
reconcile the evidence presented by either Side? What would
you say to the jury?
14 While senator Dayton was astute enough
to note some Glaring inconsistencies and contradictions in a
highly Manipulated and frequently altered evidentiary record,
he Missed, or chose to ignore other elephants
sitting Comfortably in the living room of one of the most
shameless Pieces of dishonest public accounting in American
history. These include the fact that the commission
inexplicably Introduced, at the last minute, a completely new
timeline of Events surrounding the responses of the FAA, NORAD
and the Pentagon on 9/11 in direct contradiction to previously
sworn Testimony and exhibits from these commands. In most
cases This evidence was presented by the same men who
actually Made key decisions that day. Why? In its mere
constitution, the kean commission’s members Would never have been
allowed to even approach the bar of Judicial impartiality in an
American courtroom to decide such An important case. They – every
one of them, including your Two recent speakers – would and
should have been Immediately disqualified from providing, as was
mandated by Law, “a full accounting” of the events of September
11th. In describing to you some of these conflicts of interest,
I Would like to express my thanks to independent
journalist Jim rarey who did a magnificent job of cataloguing
the Histories of the wolves and the foxes who managed the
hen House of September 11th’s historical record.
15 The
following is only a partial description of some of the More
obvious conflicts within the kean commission. Thomas kean
(chairman) Thomas kean is a director (and shareholder) of Amerada
Hess Corporation, which is involved in the Hess-delta
joint Venture with delta oil of Saudi Arabia, owned by the
[khalid] Bin mahfouz and al-amoudi clans. This company was
involved In the initial planning for a trans-afghan oil pipeline
just Prior to September 11th. Khalid bin mahfouz, once a
senior Executive with the legendary organized crime bank BCCI,
is Saudi Arabia's largest banker and his clients include
both The Saudi royal family and the Saudi binladin group
of Companies. Coincidentally, the former governor of new
jersey is also a Member of the council on foreign relations,
together with Another prominent member of the board of directors
of Amerada Hess, former secretary of the treasury
Nicholas Brady. It is also worth mentioning that Thomas kean
also sits as cochairman Of the homeland security project (HSP)
under the Auspices of the century foundation. In this capacity,
kean Has played a key role in the draft recommendations of
the Century foundation, which partially laid the groundwork
of The department of homeland security legislation. Journalist
Wayne Madsen has shown with ample Documentation that George w.
Bush also had business Relations with khalid bin mahfouz,
when he was in the Texas Oil business.
16 Both George w. Bush and
khalid bin-mahfouz Were also implicated in the BCCI scandal
closely tied to the Iran-contra and savings and loan
scandals. Other links between bush and mahfouz can be found
through Investments in the Carlyle group, an American
investment Firm managed by a board on which former president
George H.w. bush himself once sat. The younger bush
personally Held shares in one of Carlyle's owned companies,
caterair, Between 1990-94. Lee Hamilton (vice chair) In
1987, house speaker Jim Wright (who later resigned in Disgrace)
appointed Hamilton to chair a committee Investigating the
Iran/contra affair. When a question was raised about CIA/contra
drug Smuggling, the response was release by Hamilton of
a Cursory review that concluded there was no truth to
the Charges. The CIA released a report in October of
1998 (volume ii of the CIA inspector general’s report on
irancontra Drug trafficking), that received almost no
publicity Yet admitted the drug connection and direct CIA
involvement In the transshipment of thousands of kilos of
cocaine. Hamilton played a key role in the so-called October
surprise Of 1980-81 in which it was charged that the
Reagan-bush Campaign team was reported to have secretly
negotiated With Iran's revolutionary government to delay release
of The American hostages held at the us embassy in Tehran.
The Deal was that the hostages would be released after
the Presidential election so that jimmy carter could not
benefit From their emancipation during the campaign.
17 In
this Progenitor of the Iran-contra scandal military
weapons Were promised to the Iranian government in exchange for
its Cooperation. The evidence was serious enough to
warrant Congressional hearings which were ultimately chaired
by Then congressman Hamilton. As most of us who are old enough
recall, the hostages were Not released until the very day of
Ronald Reagan's first Inauguration in January of 1981. This was
one of history’s Great coincidences. For more than four
decades, veteran Washington journalist Sarah McClendon was the
grand dame of the white house Press corps. Until her January 2003
death (at 92) she was a Revered and active journalist known for
her feisty Confrontations with presidents and the powerful dating
to The Truman administration. In her later years she had
a Great habit of appearing to be asleep in her wheelchair
until The moment when she would wake up and pounce on her
prey With incisive questions that revealed she hadn’t missed
a Word of what had been said. Once, on national television
and In the middle of a live white house press conference,
she Even dared to question president bill Clinton about
the Abundantly documented record of CIA and Arkansas
state Government involvement in drug smuggling operations
at Arkansas’ mena regional intermountain airport during
the 1980s.
18 In 1994 and 1995, while living in Washington,
I was a regular Attendee at McClendon's weekly study group at the
national Press club and later at her residence on
Connecticut Avenue. After she passed, the national press club
renamed One of its conference rooms as “the McClendon room.” In
1992 McClendon offered her observations on Hamilton's
behavior As the chief “fact-finder” and chair of the October
surprise And Iran-contra committees. “i declined to withdraw
the report I made that Congressman Hyde elicited and obtained a
promise From chairman lee Hamilton, D., ind. Of the house
task Force on October surprise, that the group would Clear
president George bush of going to Paris to Cinch a deal of
weapons for Iran in exchange for Retaining American hostages to
be delivered to President Ronald Reagan and not to
outgoing President jimmy carter. Hyde says he made no such
a Deal and I must remember that Hamilton is a Democrat. That
makes no difference. Hamilton held a Press conference to clear
bush before the Investigation into the deal between the
Reagan-bush Candidates for presidential office and the
Iranians Had even started. Hamilton then admitted he had
not Interrogated witnesses or talked with his special Attorney
hired to investigate the matter.” Iran-contra, in all its
horrific corruption, was effectively “managed” by lee Hamilton in
the house and john Kerry (among Others) in the senate throughout
the late 1980s to conceal The greatest crimes of the era;
crimes committed by a litany Of well-known government operatives.
At the time, Hamilton Was the chairman of the house permanent
select committee On intelligence.
19 While many activists regard
2004 democratic presidential Candidate Kerry as something of a
hero for bringing many Details of Iran-contra drug activities to
light (and into the Public record), others, more deeply versed in
the evidentiary Record, suspect that he also did a masterful job
of keeping Some of the most damaging Iran-contra secrets —
especially Records of CIA proprietary company operations —
hidden. I Am among the latter group. Many figures who came
under criminal and investigative Scrutiny in Iran-contra, like
john poindexter, Elliot Abrams, Richard armitage, dick Cheney,
Otto Reich, Colin Powell and John Negroponte, returned (with
little or no congressional Opposition) to serve in the current
bush administration After the 2000 (so-called)
election.
20 Veteran AP journalist bob parry, who broke the first
major Story linking drug smuggling to contra support
activities, Only to later lose his job, offered some
additional Observations on lee Hamilton in his independent
web Newsletter consortium news. ”one of the key congressional
republicans fighting This rear-guard action was rep. Dick Cheney
of Wyoming, who became the ranking house republican On
the Iran-contra investigation. Cheney already Enjoyed a favorable
reputation in Washington as a Steady conservative
hand. ”Cheney smartly exploited his relationship with rep. Lee
Hamilton, D-ind., who was chairman of the irancontra Panel.
Hamilton cared deeply about his Reputation for bipartisanship and
the republicans Quickly exploited this fact.” Not only did
Hamilton fail to find any wrongdoing by top Officials in either
investigation, he was even “satisfied” with The performance of
marine lieutenant colonel Oliver north In the Iran-contra
hearings. As one commentator connected To the national security
archives observed: “north appears before the house select
committee On intelligence to answer questions about his role
in A contra resupply operation. He lies convincingly: he Has
"not in any way, at any time violate[d] the Principles or legal
requirements of the Boland Amendment," which bans federal support
for the Nicaraguan counterrevolutionaries. Committee Chairman
lee Hamilton, d-ind., pronounces himself Satisfied with north's
"good faith." when north's Superior, john poindexter, is told of
his successful Deception of congress, poindexter e-mails Ollie:
‘well Done.’” Philip zelikow (executive
director) Perhaps no more glaring conflict of interest
attracted Opposition from victim families and 9/11 activists than
that of The commission’s executive director philip zelikow.
21
Concerns Were raised when it was disclosed that only two
commission Members and zelikow might be allowed to see
certain Classified presidential records, including the
much Ballyhooed and publicly debated presidential daily
briefing (pdb) of august 6, 2001. Personally, I viewed the
august 6th pdb as a red herring and a Hubristic pretext over
which the commission could make a Show of “battling” the white
house for information. The pdb, Titled, “bin laden determined to
strike in us” was eventually Released in a one and a half page
version that was presented To the world as “complete.” Nothing
could have been further from the truth. The Respected German
paper die zeit published a story in October Of 2002, well before
the pdb became an issue, stating that the Pdb was actually eleven
and one half pages long. Since I had Documented so many other
clear, direct and credible and Apparently more detailed warnings
of the 9/11 attacks, the Aug 6 pdb was a non-issue for me. In
“crossing the Rubicon” I Will document more than a dozen specific
warnings which Foretold hijacked airliners being crashed into the
world Trade center during the week of September 9th.
Other Warnings, such as massive insider trading on
financial Markets from Hong Kong to Tokyo, to Chicago, to new
York, To London and Berlin told those who were watching that
the Airlines involved would be united and American.
22 The
insider trading, acknowledged and documented by the Likes of CBS
news, Bloomberg, and respected financial Commentators was given
the complete brush off by the kean Commission in its final
report. All it said was that Osama bin Laden and al Qaeda did not
make the trades. In my book I will Give you an idea of who
did. The controversy arising from the public debate over
zelikow Forced even the new York times to comment on some of
his More obvious conflicts of interest. “advocates for the
families said they were alarmed By the commission’s disclosure on
Thursday that Only one of the 10 commissioners would have
access To a wide range of the briefings, and that the
only Person from the commission with similar access Would be
its staff director, philip zelikow, who has Close ties to
Condoleezza rice and other senior Officials in the bush
administration. “the commission has previously rejected a
request From victims’ families to limit Mr..
Zelikow’s Responsibilities sharply in light of potential
conflict Of interests involving the white house. “the
families’ advocates said the decision to have Mr. Zelikow be one
of only two commission officials with Wide access to the highly
classified documents — the Other is Jamie S. Gorelick, a
democratic commission Member who was deputy attorney general in
the Clinton administration — raised new questions
about The investigation’s impartiality… “Mr.. Zelikow, who
wrote a book with ms. Rice in 1995, Was on the bush
administration’s transition team for The national security
council and has acknowledged Having contacts earlier this year
with Karl rove, President bush’s chief political adviser, about
Mr. Zelikow’s scholarly work at the university
of Virginia. What’s more, zelikow had been serving as a member
of President bush’s foreign intelligence advisory board
(pfiab) Since 2001 and he also made a September 2002 public
statement Saying that us military action against Iraq would be
based Upon a desire to protect Israeli interests rather than
any Real threat from Iraq.
23 Perhaps the worst conflict of
interest was the fact that Zelikow had advised the incoming bush
administration on Terror-related intelligence matters and had
several Discussions about bin laden and al Qaeda in 2000-2001
with Richard Clarke. By rights, he should have been a
witness Testifying under oath before the commission instead of
its Executive director. When many of the victim families
learned Of this they were justifiably outraged at an
arrangement That would have never been permitted in a court of
law. In spite of all the controversy, and calls from many for
his Resignation, zelikow remains securely in place at the
kean Commission to this day.
24 Jamie gorelick Freelance
journalist Jim rarey writes: “considered one of the fifty most
powerful women in The country, CFR member Jamie gorelick is
currently Vice-chair of the giant mortgage lender and
insurer Fannie Mae. From march 1994 until she joined
Fannie Mae in may 1997 she was deputy attorney general,
the Number two spot in Janet Reno's department
of Justice. “in may 1995, the intelligence community
law Enforcement policy board was established to meet Quarterly
and discuss mutual concerns of the Attorney general and director
of central Intelligence. The board was co-chaired by
gorelick And dci George tenet. Other members included all
of The law enforcement agencies, the assistant Secretary of
state for intelligence and research And the defense department
general counsel. “this is the same time frame (spring of 1995) in
which The Philippine government apprised the fbi, CIA
and State department of “project bojinka” an Islamic Terrorist
plot which included hijacking commercial Airliners and flying
them into the pentagon, world Trade center towers and, several
other buildings. “the BCCI scandal involved a number of
powerful Individuals. Clark Clifford and Robert Altman
were The top two officers in first American, the new
name Given financial general bankshares when it was taken Over
by BCCI (known as the bank of crooks and Criminals international
in the corridors of Washington) with the help of the
Jackson Stephens/lippo worthen bank and the rose law
firm. “first American is said to have been using the Notorious
promis software.
25 I will have a great deal to say about this
legendary “spyware” in “crossing the Rubicon.” Back to Jim
rarey: “when BCCI and first American were exposed, the Legal
defense team for Clark Clifford and Robert Altman attracted a
bevy of well-known names Including Robert frisked (later the
first “independent Counsel” investigating whitewater and Vince
Foster's “suicide”), Robert Bennett (later attorney for
bill Clinton), and Jamie gorelick… “in 1998, while at Fannie
Mae, gorelick served on Clinton’s central intelligence national
security Advisory panel as well as the president’s review
of Intelligence.”
26 At one point in the kean commission
hearings, a brief stir was Caused when republican partisans
charged that gorelick Bore some personal blame for the attacks by
virtue of Having created an “intelligence wall” between the
fbi and the CIA. There was no wall. A 2001 rand corporation
study, which I Quote in my book, offered great praise for the
working Relationships between the fbi and the CIA. It documents
a Number of instances where successful cooperation
and Information sharing between the bureau and the CIA
actually Prevented a number of al Qaeda and other terrorist
attacks Against us interests. There is also no wall between
the kean commission and the Government it has been charged with
investigating. Gorelick also has oil connections. Mrs. gorelick
site on the Board of the world’s premier oil drilling
firm, Schlumberger. Gorelick was one of four commission
members allowed to Review presidential intelligence records and
make notes Before reporting to the commission. It appears that
the White house had very little to worry about. Let’s take a
look at your recent guests who came here Promoting the final 9/11
report. Jim rarey tells us: Richard ben-veniste Ben-veniste is
a high-visibility Washington attorney And democratic power
broker. He was democrat Counsel to the senate whitewater
investigation Where he blocked inquiries about Webster
Hubbell's Hiring by the lippo group and others administered
by Truman Arnold.
27 According to investigative journalist
Daniel Hopsicker, ben-veniste then turned around and Defended
Arnold (the man he was supposed to be Investigating) before ken
Starr's whitewater grand Jury, for which he was roundly
criticized. Hopsicker also reveals that Arnold had furnished
a $2 million airplane to his friend Wally Hilliard for
$1. Hilliard, hopsicker says, owned the flight school
in Venice, Florida where (according to official Accounts) four
of the Islamic terrorist pilots were Trained that flew the
suicide missions on 9/11. Another of ben-veniste’s clients was
Barry seal, the Drug running CIA asset of Iran/contra and
mena, Arkansas notoriety. In fact, hopsicker relates
benveniste Told the wall street journal, “i did my part
by Launching him (seal) into the arms of vice president Bush
who embraced him as an undercover operative.” Slade
Gorton Slade Gorton is a former senator from the state
of Washington. After he lost his reelection bid in 2000, He
joined the Seattle law firm of Preston, gates & Ellis, which
specializes in environmental issues.
28 If jury selection
rules were being used, Gorton Would probably be dismissed from
consideration for The commission for cause [a technical term
for Conflict of interest]. Two days after the 9/11 attacks He
told a public-television audience there was Nothing government
intelligence officials could Have done to thwart the attack,
according to the Seattle times. The times quotes Gorton as
saying, “i Doubt we can expect to get too much
inside Information no matter what we do.” Gorton served two
years on the senate intelligence Committee. He says that
experience and his personal Friendship with Trent Lott were
responsible for his Appointment by Lott. Every commission
member has deep conflicts of interest with Respect to 9/11 and
its investigation of the government Agencies charged with
protecting the American people that Day. I will discuss all of
them in my book. One, apparently, Who did not, is former Georgia
senator max Cleland, who at One point called the commission a
sham. Cleland resigned From the commission before its
investigation was complete. What happened on 9/11? While these
attacks were arguably one of the most serious Homicides ever
committed, the investigation and "prosecution" of that case by
means other than dick Cheney's "war that will not end in our
lifetimes" has never even Approached the legal and logical
standards governing all Such investigations.
29 No real case
has ever been made that Would pass first muster of even a junior
assistant district Attorney. Without such a court process, we
are forced to employ Analogies and metaphors. But there remains
to us the most Successful, fundamental strategy for the
prosecution of Criminal behavior: demonstrating that a suspect
(or Suspects) did, or did not, possess the means, motive,
and Opportunity to commit the crime. To date, the case that
9/11 was perpetrated solely by Osama Bin laden and al Qaeda has
never been proved, even to the Most rudimentary standards. In
fact, some 35 months after The attacks there has not been a
single successful 9/11 Prosecution anywhere in the world. The
only conviction That had been secured, a German prosecution
against mounir El motassadeq, charged with aiding the so called
Hamburg Cell of Mohammed atta, was overturned in 2004 because
the Us government refused to produce key witnesses such
as Khalid shaikh Muhammad or ramzi bin al-shibh and
other Evidence relevant to the charges. Every defendant in
a Western criminal case has the right to examine the
evidence Used against him and to cross-examine witnesses. To
the general public as well as to the 9/11 research Community, the
mysterious and inexplicable failure of the Nation’s air defenses
that day remains the most glaring and Gaping hole in the kean
commission’s account and in the Government’s version of events.
Scrambling fighter Aircraft was a routine occurrence for years
before 9/11.
30 The associated press has told us that fighter
aircraft were Scrambled and flying beside errant commercial and
private Air traffic within minutes of the slightest deviation
some 67 Times in the calendar year preceding June 1 2001. This is
one Of many areas where the kean commission not only failed
to Look but actually altered evidence in the preparation of
its Final report. For me, the pivotal evidence absolutely
demonstrating Direct government complicity in, and management of,
the Attacks was found in a number of undisputed, yet
virtually Unaddressed wargames that I will show were
being Conducted, coordinated and/or controlled by vice
president Dick Cheney or his immediate staff on the morning
of September 11th. The names of those wargames are known
to Include: vigilant guardian, vigilant warrior,
northern Guardian, northern vigilance, and tripod ii. All have
been Reported on by major press organizations relying
on Undisputed quotes from participating military
personnel. They have also been confirmed by NORAD press releases.
All, Except for northern vigilance and tripod ii had to do
with Hijacked airliners inside the continental united
states, Specifically within the northeast air defense sector
where All four 9/11 hijackings occurred. According to a clear
record some of these exercises Involved commercial airline
hijackings. In some cases false Blips were deliberately inserted
onto FAA and military radar Screens and they were present during
(at least) the first Attacks. This effectively paralyzed fighter
response Because, with only eight fighters available in the
region, There were as many as 22 possible hijackings taking
place.
31 Other exercises, specifically northern vigilance had
pulled Significant fighter resources away from the northeast
u.S. – just before 9/11 – into northern Canada and Alaska.
In Addition, a close reading of key news stories published in
the Spring of 2004 revealed for the first time that some of
these Drills were “live-fly” exercises where actual aircraft,
likely Flown by remote control – were simulating the behavior
of Hijacked airliners in real life. All of this as the real
attacks Began. The fact that these exercises had never
been Systematically and thoroughly explored in the
mainstream Press, or publicly by congress, or at least publicly
in any Detail by the so-called independent 9/11 commission made
me Think that they might be the holy grail of 9/11. That’s
exactly what they turned out to be. Only one wargame exercise,
vigilant guardian, was mentioned In a footnote to the kean
commission report and then it was Deliberately mislabeled as an
exercise intended to intercept Russian bombers instead of a
hijack exercise in the Northeast sector. Even then, a deliberate
lie was told to The American people as NORAD commander Ralph
eberhart Testified to the commission that the exercise
actually Expedited us air force response during the
attacks.
32 When Michael Kane, a brilliant young new York activist
and Budding investigative reporter approached general Eberhart
on an FTW assignment at the conclusion of the Commission’s last
public hearing and asked for information On the other
exercises, eberhart’s only response was, “no Comment.” And an
additional non-military biowarfare exercise called Tripod ii,
being “set up” in Manhattan on September 11th was Under the
direct coordination of FEMA and – by white house Directive – the
immediate control of the vice president. The Set up for that
exercise conveniently placed a fully staffed FEMA, new York city
and department of justice command post On Manhattan's pier 29 in
time for it to be conveniently used As the command post after the
twin towers had collapsed. There are many, many areas where the
official account and The findings of the kean commission are
contradicted by Hard evidence, official records, mainstream
news Investigations and even sworn testimony. Both the
Los Angeles times and the new York times have noted some of
the Lesser, but no less glaring, inconsistencies. In my book I
will Provide you with many more. In my book I will make
several key points: 1. I will name Richard Cheney as the prime
suspect in the mass Murders of 9/11 and will establish that, not
only was he a Planner in the attacks, but also that on the day of
the Attacks he was running a completely separate
command, Control and communications system which was
superseding Any orders being issued by the nmcc, or the white
house Situation room. To accomplish that end he relied on
a Redundant and superior communications system maintained By
the us secret service in or near the presidential Emergency
operations center – the bunker to which he and National
security advisor Condoleezza rice were reportedly “rushed” after
flight 175 struck the WTC's south tower.
33 I will Demonstrate that
the secret service possessed radar Screens which gave them, and
the vice president, whose side The never left, with real-time
information as good as or Better than that available to the
pentagon; 2. I will demonstrate that in what are called national
special Security events the us secret service is the supreme
us Agency for operational control with complete authority Over
the military and all civilian agencies. 3. I will establish
conclusively that in may of 2001, by Presidential order, Richard
Cheney was put in direct Command and control of all wargame and
field exercise Training and scheduling through several
agencies, Especially FEMA. This also extended to all of the
conflicting And overlapping NORAD drills on that day. 4. I
will also demonstrate that the tripod ii exercise being Set up on
Sept. 10th in Manhattan was directly connected to Cheney's role
in number 3 above. 5. I will also prove conclusively that a
number of public Officials, at the national and new York city
levels, including Then mayor Rudolph Giuliani, were aware that
flight 175 was En route to lower Manhattan for 20 minutes and did
nothing – Absolutely nothing – to order the evacuation of or warn
the Occupants of the world trade center. One military
officer Was forced to leave his post in the middle of the attacks
and Place a private call to his brother - who worked at the WTC
- Warning him to get out.
34 That was apparently an act
of Desperation because no other part of the system was
taking Action. 6. I will also show that the Israeli and
British governments Acted as partners with the highest levels of
the American Government to help in the preparation and, very
possibly, The actual execution of the attacks." Israel I
must now digress to say a few words about Israel. Israel is a
country. Judaism is a religion. It is no more proper to say that
the actions of the Israeli Government are above criticism than it
is to say that Criticism of the American government is a
criticism of all Americans. There are many direct connections
between Israeli Intelligence activities and the events of 9/11
including a Report from the drug enforcement administration,
showing That more than 100 Israeli covert operatives
were Functioning inside the united states just before and
during The attacks. Some of these operatives were placed
in Extremely close proximity to four of the 9/11 hijackers
in South Florida and san Diego. Israeli companies such
as Amdocs, comverse and odigo had direct connections to
the Events of 9/11. A “former” Israeli anti-terror operative
was On board American flight 11.
35 To say that Israel
played a criminal role in the attacks is not The same thing as
saying that Israel perpetrated the Attacks. A key question asked
by any homicide investigator Is cui bono? Who benefits. And on
this account we can find Only three countries, the us, Britain
and Israel that have Never wavered in their support of everything
that has Happened since 9/11. Tonight, even as I speak, an
Israeli spy scandal is spreading Through the highest levels of
the pentagon and revelations From breaking news stories strongly
suggest that the Information being provided to the Israeli
government Carried with it the sanction of some of the same
people I Have charged in “crossing the Rubicon” with perpetrating
the Attacks of September 11th. Tonight I predict that the
current Scandal will overlap and connect with the recent arrest
by South African authorities of sir mark Thatcher, son
of Former British prime minister Margaret Thatcher, for
his Role in sponsoring an aborted coup in the west
African Nation of equatorial guinea. The motive: British
commercial Acquisition of oil rights in a region that – as I have
been Writing for two years now – is destined to become the
next Regional zone of confrontation. West African nations from
sub-Saharan Africa, to Nigeria, to Sierra Leone, to Sao tome and
Principe, to Chad, to Cameroon To Angola are all feverish
oil-rush boom towns where Nations, money, military might, covert
operations and Intrigue are converging with lightning speed to
control oil Reserves. Although much smaller than the reserves of
the Middle east, these African reserves are critical swing
and Lesser suppliers of oil in a world where – as we too
well Know – the removal of just a million barrels a day
from Global supply can wreak economic havoc.
36 Africa’s
priceless Energy takes only about two weeks to reach an
American Gas tank as opposed to the six week journey required for
oil From the middle east. Last spring, just after the us
occupation of Iraq, it was Disclosed that the Israeli government
had entered Negotiations with us representatives to explore
the Possibility of rebuilding a demolished pipeline from
northern Iraq to the Israeli port of Haifa. To level a charge
of anti-Semitism at me or anyone else who Dares to criticize
Israeli government actions is to argue That Israel and all of
Judaism is a monolithic structure, Sharing only one viewpoint. It
is to say that being a Jew Means being a likudnik. It is to
overlook the enormous Dissent within Israel of groups like women
in black, not in Our names, and the almost 700 commissioned and
noncommissioned Officers from the Israeli defense forces
who Have refused to serve in the occupied territories. It is
to Ignore the fact that the nephew of Benjamin Netanyahu
has Refused compulsory military service and risks jail for
that Decision. I look in the back of the room and I see my
dear friend, agent And publicist ken Levine. Last spring I was
privileged to Participate in a seder at the home of his
incredible 92 year old Mother.
37 I stop and give thanks
for Jamey Hecht, ph.d., a poet, English Literature professor,
great friend and American Jew who Edited “crossing the
Rubicon.” In the same breath I also think of and thank my dear
friend Dr. Faiz khan, a Muslim imam and emergency room
physician Who left his post at Jewish hospital in Brooklyn and
rushed To the world trade center to render aid on September
11th. He was one of the first doctors on the scene and he was
one Of the last to leave. There is no room for stereotypical
thinking in a time of Crisis. As faiz khan said to me once, a
paradigm is what you Think about something before you think about
it. It is these Traps which we must all avoid. I will say one
more thing before leaving the subject of 9/11 Tonight. I like
many Americans and many people around the World have serious
lingering questions about the collapse Of the twin towers, what
it was that actually struck the Pentagon and what – in the name
of god – it was that caused The collapse of WTC 7, a building
that had not even been Struck during the
attacks. Unfortunately, the physical evidence was quickly
destroyed And scientific analysis is not available to us to
answer these Important questions. In order to make the strongest
legal Case possible I have avoided discussions of physical
evidence – open to acrimonious debate and scientific challenge –
and Chosen to do what any good police officer must do; keep
my Eye on the suspects.
38 It does not take a scientist to
prove That George bush, dick Cheney, Donald rumsfeld, Condi
rice, General Ralph eberhart, general Richard Myers, fbi
director Robert Mueller, john Ashcroft and George tenet lied to
the American people. There is a record that proves this and
that is the record I Will present to you in “crossing the
Rubicon.” But on the subject of WTC 7 I will, in my book, explain
why that Particular building had to be destroyed. And although
I Cannot prove to you how the twin towers were collapsed,
I Will show you who performed the requisite studies that Would
have been essential to pull off that feat. Peak oil I turn now
to the motive for the murders. Peak oil is no Secret. Its chief
opponent is something called denial – which Is not a river in
Egypt. Dick Cheney knew about it. I will show you that in my
book. His national energy policy development group – you
know, The one that refused to release its records sparking
a Constitutional crisis and a supreme court ruling, knew About
it. I will show you that in my book too. Oil and natural gas are
indispensable to our way of life. The World consumes ten calories
of hydrocarbon energy for Every calorie of food that is eaten.
All commercial Fertilizers are made from natural gas. All
pesticides are Made from petroleum. All irrigation, plowing,
harvesting And transport is accomplished by either oil
powered Machinery or oil or natural gas generated
electricity.
39 There are between 600 and 700 million internal
combustion Powered vehicles on the planet and the demand for them
is Exploding exponentially, especially in china where gm’s
sales Rose 300% in one year alone. According to the
national Geographic this last June there are seven gallons of oil
in Every tire. Want to suddenly build 600 million new
vehicles That run on something else, hydrogen perhaps? How much
oil Will be required to do that? To mine and melt the ore?
To Transport it to factories that don’t exist, using
electricity That isn’t there? To make the paints, solvents and
all of the Plastic needed? All plastic is made from
oil. Hydrogen is a cruel joke that creates false hope. A
recent Study from EV magazine reported that the average
life Expectancy of a very expensive fuel cell engine was just
200 Hours. Commercial hydrogen is now made from natural
gas. We’re nearly out of that too. China’s economic growth has
seen it replace Japan as the World’s second largest importer of
oil and china is now Coming into direct economic and political
competition with The us for what oil remains.
40 I have attended
two international conferences on the Subject of peak oil and its
implications for civilization; one in Paris in 2003 and one in
Berlin this year. For almost the entire Year between the Paris
and Berlin conferences the icons of The mainstream press – the
ones known and employed to Mold public and business
perception – have been Acknowledging peak oil’s reality,
sometimes reluctantly, Sometimes less than directly, but also
sometimes very Boldly. CNN, the BBC, the new York times, the
economist; Dozens of media giants had begun to respond, like a
giant Ship turning slowly in the water. The ship has
clearly Changed course, but was it enough? Was it in time? I
have Saved close to 200 of these stories. Looking at just a
few of them makes the point well enough. • “the end of cheap oil”
– national geographic (cover Story) – June 2004. • “what to
use when the oil runs out” – BBC – April 22, 2004 • “adios cheap
oil” – interpress news agency – April 27, 2004 • “g7: oil price
threatens world economy” – Moscow times – 4/26/04 • “world oil
crisis looms” – Jane's -- 4/21/04 • “us procuring the world’s
oil” – foreign policy in focus – January 2004 • “are we
running out of oil? Scientist warns of looming Crisis” – ABC
news.com – 2/11/04 • “blood, money, and oil” – us news –
8/18/03 • “soaring global demand for oil strains
production Capacity” – wall street journal – 3/22/04 • “check
that oil” – Washington post – 11/14/03 • “china’s demand for
foreign oil rises at breakneck pace” – knight ridder
–1/26/04 • ’world oil and gas running out’ – can – 10/02/03 •
“debate rages on oil output by Saudis in future” – the New York
times – 2/25/04 • “fossil-fuel dependency: do oil reserves
foretell bleak Future?” – san Francisco chronicle – 4/02/04 •
“the end of the oil age: ways to break the tyranny of oil Are
coming into view. Governments need to promote Them” – the
economist – 10/23/03 The subject of peak oil is one which
requires a little study To get your brain around. It does not,
however, require Much science except for basic
arithmetic.
41 Discoveries of large oil deposits have been in
steep decline Since 1962. Demand, on the other hand, has been
soaring. To quote my energy editor dale Allen Pfeiffer, a
geologist: It appears that the year 2007 will be important. A new
study Published in petroleum review suggests that
production Might not be able to keep up with demand by 2007. The
study is A survey of mega projects (those with reserves of over
500 Million barrels) and the potential to produce over
100,000 Barrels per day of oil). Mega projects are important
not Only because they provide the bulk of world oil
production, But also because they have a better net energy
profile than Smaller projects, and they provide a more
substantial profit Than smaller projects. Bear in mind that
the planet consumes a billion barrels of oil (or two mega fields)
every eleven and one half days. The discovery rate for mega
projects has dwindled to Almost nothing. This can be seen in the
data for the last few Years. In 2000, there were 16 discoveries
of over 500 mb; in 2001 there were only 8 new discoveries, and in
2002 there Were only 3 such discoveries. From first discovery to
first Production generally takes about 6 years. If the
new Project can make use of existing infrastructure, then
the Start up time might be cut to 4 years. In 2003 seven new
mega projects were brought on stream. 2004 expects to see another
11 projects start producing. 2005 will be the peak year for
bringing new projects on Stream, with 18 new projects
expected to be brought on Stream in that year. In 2006, the pace
drops back to 11 new Projects.
42 But in 2007 there are only 3 new
projects Scheduled to begin production, followed by 3 more in
2008. There are no new projects on track for 2009 or 2010. And
any New mega project sanctioned now could not possibly come On
stream any sooner than 2008. The study points out that currently
about a third of the World's oil production comes from declining
fields, with a Likely overall decline rate of about 4%. As a
result, global Production capacity is contracting by over 1
million barrels Per day every year. New production is the only
thing Offsetting this decline. Of course recent events have
clearly demonstrated the Fragility of a global production system
that is operating at Full tilt. Sabotage an Iraqi pipeline one
day the price goes Up. Announce that Vladimir putin is easing up
on Russian oil Giant yukos and the price drops. Announce that
putin is Moving to sell of its assets and confiscate its cash,
the Price soars. Worry that Hugo Chavez of Venezuela might
be Ousted in a violent coup and the price jumps. Watch Chavez
– Who is despised by the bush administration – win his
seventh Election in as many years and the price drops. By the
way, that is seven more elections than George bush Has won. In
spite of repeated assurances from the Saudi government That they
can and are increasing production the evidence is Growing that
they cannot.
43 FTW was the first to report, a Year before the
new York times did, that Saudi Arabia may Have actually peaked.
New studies are reporting that Saudi Wells in the mother of all
oil fields ghawar are showing 55% Water cut. That means that 55%
of what is pumped out every Day is the same seawater that was
pumped in to push the oil Up. Experience has shown that when the
water cut gets to Between 70 and 80% the field collapses. The
rush to produce more oil is hastening the destruction Of fields
that could last longer otherwise. Events then seem to confirm
these worries about Saudi Arabia. Saudi reassurances are now
being chuckled at by Major financial commentators, and Saudi
pledges to increase Production are having less and less effect on
the markets. Ghawar, the super giant of all fields was discovered
more Than 60 years ago. It had estimated reserves of almost
100 Billion barrels of oil. Professor Michael klare has told
us That, in order to keep pace with accelerating oil demand,
the World will have to discover three new ghawars in the
next 10 to 15 years just to meet demand. There was only
one Ghawar. There hasn’t been another one since. So when we
look at the paltry and rapidly diminishing rate of Discovery for
the so-called mega fields, the prospects Become just a bit more
chilling.
44 In the year 2003, for the first Time since the 1920s
according to a leading petroleum Consulting firm, not a single
so-called mega field – 500 Million barrels or more – was
discovered. By 2007, production capacity will have declined by
3-4mn b/d. Yet this decline will be offset by 8mn b/d of new
capacity Drawn from the many new projects expected to come
on Stream over the next few years. This leaves a surplus of
4mn B/d in spare capacity. Yet global demand is growing by over
1 Mbpd each year. So 3 years of demand growth will reduce Our
spare capacity to 1mn b/d by the start of 2007. As very Little
new capacity is set to come on stream in 2007, that Remaining 1
mbpd spare capacity will likely disappear before 2008. In the
short term oil prices are governed by market forces Rather than
geology which will tell us, as opposed to Investment and
economics, how much oil we can ultimately Extract. The irony is
that when three new mega fields come Online all at once the
prices may actually drop. That will Not change the outcome.
Speculation at present is not a big A factor as it could be. I
wholeheartedly agree with Investment banker Matthew Simmons that
a margin Requirement of 50% should be placed on all oil
futures Trading worldwide. The upshot of all this is that the
oil supply appears Sustainable, barring major wars or destruction
on Infrastructure until 2007. With so much new
production Coming on stream, there may even be periods of
price Weakness. However, it is likely that we will begin
suffering Oil shortages after 2007, especially if anything
happens to Disrupt a portion of the production. If new projects
are not Found, and online by 2008, then by the end of that year
we are Certain to see severe shortages without any cause
other Than rising demand.
45 But there is another factor to
this oil calculus. So many Complaints are being voiced that a
major part of the Problem with current oil prices has to do with
a lack of Refineries. People point out that there are 18
different Grades of gasoline in this country matching various
state Laws. Why, they demand, are no more refineries being
built. The answer is simple and it is a direct and
irrefutable Confirmation of peak oil. The return on investment –
as Matthew Simmons says – is uncertain. According to
Simmons It takes 5-7 years and about $150 million to bring a
complex Refinery online. The cost of the refinery is paid for by
the Sale of the oil. The refineries are not being built and
massive expensive Exploration projects are not being undertaken
because the Oil companies understand that there is very little
oil left to Find. Finding 10 new north sea fields…
somewhere By 2015, global oil demand is expected to increase by
over Two-thirds, that is 60 mbpd beyond current
global Consumption of between 75 and 80 mbpd. To meet that
demand We will have to find the equivalent of 10 new north sea
oil Fields within a decade. In the meantime Britain's north
sea, Just like Alaska's north slope did a decade ago, is
running Dry. Rigs are shutting down and employees are being
laid Off. Yet we are hard pressed now to discover even
another Mega-sized field.
46 To quote former British
environmental minister Michael Meacher, we are facing, "the
sharpest and perhaps the most Violent dislocation (of society) in
recent history." I should add the meacher, along with former
German cabinet Minister and former parliamentary secretary
Andréa's von Buelow has stated publicly and in writing that the
attacks Of September 11th were perpetrated by the us
government. There are many out there who just refuse to believe
that oil And natural gas are running out. Some insist that oil
is Created automatically and infinitely by the earth’s
core, Disputing all known science showing otherwise. There
are Those who insist that alternative energies can be
snapped Into place immediately to allow for infinite economic
and Population growth. Aside from looking at the events since
9/11 and seeing that They match a world of diminishing energy
let’s take a look at Some recent developments around the world
and see what They tell us. Britain’s largest electricity
provider has announced that Prices will soar as much as 40% next
year. Wholesale energy Prices have doubled in the last year as
Bloomberg has Announced that the decline in north sea production
is Creating a trade gap which is now threatening to
cause Widespread unemployment.
47 In march Reuters reported that
Argentina, facing its worst Energy crisis in 15 years, is
becoming unstable to the point of Threatening the security of the
entire region. It has cut its Natural gas exports to Chile
by 15%, which is threatening Chilean power generation. Argentina
is now moving into the World oil market in search of oil for
power generation and Transportation as its own domestic supplies
have dwindled. The BBC reported recently that high oil prices
are Threatening many Asian economies. Just two weeks ago the
Australian government ordered an Emergency fuel review in
anticipation of future crises. In June it conducted a test to see
how the government and Country would respond to a “disruption” in
oil supplies. On august 25th it was reported the brazil was
opening Negotiations with Ecuador to replace diminishing
oil Supplies. China, in the midst of rapidly diminishing
harvests, a growing Economy and expanding population is fearing a
major food Crisis. This, even as Hong Kong, hangzhou, and
shanghai are Facing mandatory blackouts which are
disrupting Manufacturing, trade and retail activity. Chinese oil
imports Have increased by 15% in just the first quarter of 2004
alone. Germany has moved to institute home energy passports,
and Undertaken serious and well planned efforts to
reduce Energy consumption. Chancellor Schroeder, in the wake
of Recent revelations that shell – which downwardly
revised Its reserve estimates four times in one year – called
upon The g8 nations to move to mandate total and
verifiable Transparency in all oil reserve
figures.
48 India, whose oil imports jumped 23% in one month,
has moved To create a strategic petroleum reserve. Indonesia,
a member of OPEC has announced that its oil Production will drop
significantly by 2008. Japan, ignoring stiff opposition from
Washington, has signed A major oil contract with Iran, at the
same time that it is Feuding with china, Vietnam and the
Philippines over Relatively small oil and gas deposits in the
spratly islands Of the south china sea. In anticipation of
pending military Conflict in the region china has decided to
build a pipeline Through Burma to the Indian ocean so that
tankers Supplying china’s growing thirst will not have to
travel Through a region that is becoming increasingly
dangerous. Three bills have been introduced in the Japanese
parliament That would suspend its non-violent constitution and
permit a Full scale rearmament. Russia, having recently
admitted that its oil reserves were Finite and that production
might start to decline sharply Within the next five years has
announced that it will build a Pipeline from its Siberian fields
to the pacific ports of Vladivostok and Sakhalin thus agreeing to
sell its oil to Japan, Korea and the Philippines. Russia’s other
choice was To have the pipeline terminate in central
china.
49 This week in petroleum, an industry journal has
reported That non oecd countries have begun to hoard petroleum
and Are buying all they can even at what some analysts
call “inflated” prices. In Thailand, mandatory evening curfews
have been imposed Two nights a week requiring all businesses to
shut down in Order to conserve energy. On august 24th
Britain's oil depletion analysis center Confirmed, citing data
from petroleum review that daily oil Depletion is now exceeding
one million barrels per day. In Other words, every day, the world
is producing 1.14 million Barrels per day less than it did the
day before. By analyzing Data from the 18 largest oil producing
nations petroleum Review calculated that production from these
countries Peaked in 1997 at 24.7 million barrels per day and that
by 2003 It had fallen to 22.1 million barrels per day. On
august 21 the Houston chronicle posed a great question. If oil
prices are soaring and there’s insatiable demand, why Isn’t there
a boom in hiring and corporate expansion? The Chronicle, paying
due heed to the financial markets, offered The dubious
explanation that the oil companies just didn’t Want to overdo
things and look greedy. In fact, all over the World oil companies
are downsizing, selling off assets, Laying off employees and
merging. Just last week it was Announced that French giant total
was considering a tender Offer to purchase royal Dutch
shell. And here in the united states, rising oil prices have
forced Major airlines like united to consider raiding
corporate Pension funds in order to offset rising oil costs
as an Alternative to bankruptcy.
50 In the meantime, in the west
African country of Liberia, there Are reports of 10 year-old
mercenaries being recruited to Fight in guerilla conflicts in
neighboring countries and There is no shortage of recruits. I
wonder if senator chuck Hagel of Nebraska will see any of them.
He just left on an Energy “safari” to scout west African
prospects, just about A year after NATO announced it was shifting
its focus to West Africa and the us delivered six obsolete
warships to The Nigerian navy. This, ladies and gentlemen, is
just the beginning. And neither Presidential candidate has even
remotely addressed the Real issues or dared to tell the American
people the worst. The one overriding concern I have seen
expressed Everywhere is “oh, no. We can’t do that. It will crash
the Markets.” Is that the sum total of human expression and
achievement? The markets?
51 To close this presentation tonight I
would like to offer you Quotes from two distinguished gentlemen
whose names Might carry a bit more weight in this room than
Michael Ruppert. The first is from sir Charles galton Darwin
who in 1952, just One year after I was born, wrote: “the
fifth revolution will come when we have spent The stores of coal
and oil that have been Accumulating in the earth during hundreds
of Millions of years. . . . It is to be hoped that before Then
other sources of energy will have been Developed . . . But
without considering the detail [here] it is obvious that there
will be a very great Difference in ways of life. . . . Whether a
convenient Substitute for the present fuels is found or
not, There can be no doubt that there will have to be a Great
change in ways of life. This change may justly Be called a
revolution, but it differs from all the Preceding ones in that
there is no likelihood of its Leading to increases of population,
but even perhaps To the reverse.” I have insisted for many
years now that any fundamental Change in the current human
paradigm, a change that will Really make a difference, is
impossible until we, collectively And as a species, change the
way money works. In “crossing the Rubicon” I will explain just
how and why the World’s current economic system is hastening
and Worsening a calamity of unimagined proportions. This
all Began for me some 27 years ago when, as a young policeman,
I Discovered that the CIA was deeply involved in the
drug Trade. The purpose of that involvement led me to
discover, And prove using us senate hearing records and
documents From the CIA itself that an essential ingredient –
perhaps the Essential ingredient – in us economic supremacy was
the Maintenance of a flow of as much as $600 billion a year
in Drug profits through us financial markets and
institutions.
52 What we are witnessing now is a collision: a
collision of a Financial system relying on fractional reserve
banking, Debt-financed growth, and a fiat currency system with
a Planet and energy resources that are finite, limited,
and Running out. Infinite growth is battling with finite
energy. One is not possible without the other and I have
absolutely No doubt as to which side will win. In November
2002 James Kenneth galbraith wrote an article Titled “the
unbearable costs of empire” None of these problems will be cured
so long as war Remains our dominant political theme. But
serious Though they are, they pale in comparison with
the Larger problem of the international trade-and
financial Order under conditions of permanent war. It is a
straightforward fact that if global oil Production starts to
decline but u.S. consumption Does not, everyone else will be
required to cut Purchases and uses of oil. But how can oil prices
be Held stable for Americans yet be made to rise for Everyone
else? Only by a policy of continuing Depreciation in everyone
else's currency. Such a Policy of dollar hegemony amid worldwide
financial Instability, of crushing debt burdens and
deflation Throughout the developing world, is perverse.
It Will make our trading partners' exports cheap, Render their
imports dear and keep their real wages Low. It will price
American goods out of world Markets and lead to unsustainable
dependence on Foreign capital. It will be a policy, in short,
of Beggar-all-of-our-neighbors while we live alone,
in Increasing idleness and inside the dollar bubble.
53 This is
the policy that bush and Cheney are actually Imposing on the rest
of the world. But they cannot Make it last. It will make lives
miserable elsewhere, Generating ever more resistance, terrorism
and Military engagement. Meanwhile, we will not Experience
even gradual exposure to the changing Energy balance; we will
therefore never make the Investments required to adjust, even
eventually, to a World of scarce and expensive oil. In the
end, Therefore, that world will arrive much more Abruptly than
it otherwise would, shaking the Fragile edifice of our oil
economy to its foundations. And we will someday face a double
explosion: of Anger against our arrogance and of
actual Shortage and collapsing living standards, when
the Confidence of investors in the dollar finally
gives Way. Compared with this future, a new commitment
to Collective security, to a new world financial Structure, to
a rational energy and transportation Policy, and to spending to
meet our actual domestic Needs would be a bargain.
54 At the end of
the Constitutional convention, Benjamin Franklin was Asked
what type of government the framers had Given our new
country. He famously replied, "a Republic, if you can keep
it." In 49 bc Julius Caesar, fresh from a battlefield victory
in Central Italy ordered his legions to cross a small
creek Called the Rubicon. Under the laws of the roman
republic, The army was not allowed to enter the capital
city. As Julius Caesar crossed the Rubicon, the roman
republic Died and the roman empire was born. Our task, if we
and much of human civilization are to survive, Is not to keep our
republic, but to take it back. Thank you, -----
America's
Black Budget And Manipulation Of MarketsMapping
The Real Deal With Catherine Austin Fitts Financial Sense
NewsHour Radio & Net Talk Show Presenting Catherine Austin
Fitts with Jim Puplava May 22, 2004 Netcast
Investors benefit from understanding the federal budget,
credit policies and covert intervention that drive markets -- often
overriding fundamental economics. How has the US governmental
apparatus become so powerful in the marketplace and what does it
mean to the health of our economy? How unstable is the mortgage
bubble and where are the opportunities for investors if the bubble
bursts? For providing us with a transcript of the
show, special thanks to one of Jim Puplava's Financial Sense
NewsHour listener, Glenn Assheton-Smith, and his fellow investors at
the http://www.siliconinvestor.com forums:
Epic American Credit and Bond Bubble Laboratory Forum
http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=54034
Ride the Tiger with CD Forum http://www.siliconinvestor.com/stocktalk/subject.gsp?subjectid=54430
************** JP: Catherine, we've
seen a lot of information and a lot of concern on Wall St. about the
Mortgage markets. We've seen consumers take on more debt when it
comes to taking on bigger mortgages, refinance. But this story gets
much bigger than just the credit itself. CA: Sure.
Where would you like to start? JP: (Laughter) Well,
let's talk about black budgets and how the manipulation takes place
in the mortgage and financial markets. CA: OK. Let me
start off with a story. When I became Assistant Secretary of
Housing, I left Wall St. and went to Washington in 1989, and I
walked into the FHA Jim, which at the time was a $300 billion
portfolio of mortgage insurance, about 80% of that was single
family. So it's homes, homes that Americans buy, and it's sort of
broad middle class/lower middle class. And I walked in and I said to
the guy who was supposed to be the Controller, and I said I'd like
to see our financial statements. So he delivered to
my office about 20 pounds of books all on the budget, and I read it
twice, and I called him and said "Look, I've read this thing twice a
couple of thousand pages and I can't find out how much we are making
or losing in the single family fund." By law, the SHA commissioner
has sole fiduciary responsibility to make sure that the $50 to $100
billion of mortgage insurance originated is self-sustainable. So the
premiums are supposed to fund whatever the defaults and losses are.
So I said, "I can't find out how much money we're making or losing.
"Well that's because, he said, "It's not in the budget. And I said,
"Well where is it? And he said, "Well the Accountants have it. And I
said, "Well where can I find them? And he said, "They report to a
different Assistant Secretary, you're not allowed to speak to them.
JP: (Laughter) CA: So I was a little
bit taken aback. And to make a long story short, I had raised a lot
of money for the first Bush, and so I lobbied extensively, and what
I got was a pair of cufflinks, and the accountants moved over to
report to me, it took about 2 months. And so I could finally talk to
the accountants, and they came in and I said, "How much are we
making or losing in the single family fund? And they said, "We're
losing $11 million a day. JP: Wow. CA:
Exactly, so I said, "Well we have 10 regions and 80 field offices,
where are we making or losing money? And they said, "We don't know
that. And I said, "We mail out checks, we have zip codes, so it's a
crash emergency go-find-out. And they came back 2 months later, and
it turned out we were making money in 8 regions, and losing money in
2 regions. And I was also on the oversight board
through the Secretary of the RTC, which was the cleanup of the
S&L's, and it was very much the same pattern. It turned out that
the two regions 1 was Texas, which included Arkansas, so you had
both the Bush's and the Clinton's in the same region, and the second
was in Colorado. And what had happened, a significant part of what
they called the S&L scandal and the HUD scandal was you
literally had a financial fraud epidemic it was called, some people
call it Iran-Contra, but after you work through it and learned all
about it, we had a significant black budget financial operation
financing black budget projects with financial fraud, whether it was
through the S&L's or HUD. And all of that could happen because
you did not have transparency. So one of the things I
got passed when I worked with a group of people in the
Administration was a requirement that you produce audited financial
statements for the 24 agencies of government. One of the things I'd
like to do is go through a little bit about that and tie it back to
the mortgage bubble. And so we got in the first Bush
administration a law required that the Federal government had to
produce audited financial statements, which went into operation in
1995, they had about 4 years before they were required. And what
happened when the first financial statements came out, was
essentially most agencies could not comply, or produce audited
financial statements. And as of today Jim, in 2004, the Federal
government has yet to comply with the laws requiring audited
statements for those 24 agencies, and the Treasury consolidated.
JP: And yet they always need more money, but they
can't account for where the money that they have goes.
CA: Right. In fact, in 2001 we did an estimate, and it turned
out that 85% of the first Bush administration budget [was] going to
agencies that weren't in compliance with the audited financial
statements rules and reliable financial systems.
Anyway, let me fast forward. In 1995, when HUD produced the
first audited financial statements, they were published, and a
fellow came to see me, and he said, "Look, there's been a terrible
mistake. You don't understand, my family's been in business for many
generations, and we've been tracking all the FHA mortgage insurance
outstanding in the market since the FHA went into existence in 1934,
and there's a terrible mistake the amount of outstanding FHA
mortgage insurance in the markets is significantly more that is
shown in these financial statements Now when the
fellow came to see me, Jim I thought he was crazy because what he
was saying was that the U.S. Treasury and the FHA were engaged in
significant securities fraud. In other words, what he was saying was
that there was a significant amount of FHA & Ginnie Mae (or FHA
related) securities outstanding than was shown in the financial
statements. Now, that's what I've come to believe is
true. In 1995, I thought the guy was nuts. What has been evidenced
over the last 7 years, is that there is a pattern that suggests
there is very significant financial fraud in the mortgage markets.
And let me tell you a little bit about why I believe that to be
true. After I left the Bush administration, the
Secretary of Treasury asked me to go back in as a Governor of the
Federal Reserve. But I discovered the Internet when I was in HUD,
and decided that I wanted to create my own securities firm that
specialized in financial software. And I was convinced there was a
tremendous opportunity to finance neighborhoods and places, and
securitize small businesses and small real estate income and finance
in the equity markets. In other words, in a world of privatization,
there's no reason why you can't finance a lot of municipal functions
with equity. So we wanted to do that, but a lot of it
depended on creating the software tools to let you really see how
the money works by place. And part of what I discovered when I was
Assistant Secretary is, because there's no transparency in how the
money works by place for government money, there's tremendous
opportunities. There's neighborhoods where, for example, HUD is
spending $250,000 per unit to rehab public housing, but you can buy
a rehab single family in the same 3 or 4 block area for $50,000. So,
to the extent that you can reengineer government money within a
place, there's tremendous arbitrage opportunities if you combine
that with financing places with equity. So we got very interested in
doing that. One of the things that happened was HUD
later hired the [i.e. Catherine's software] company back on
competitive contract, to help with $12 billion of defaulted mortgage
auctions. HUD was the last of the RTC and the private financial
institutions auctioned all their mortgages. But HUD was kind of the
Johnny-come-lately, and so hadn't done that, and we helped them do
that between 1994 and ,95 & ,96. They auctioned successfully
about $10 billion of mortgages. What happened in that process was we
were able to get the recovery rates, which had traditionally been
about 35 cents on the dollar, beyond the industry standards which
was about 75 cents on the dollar, we got it up to about 70-90 cents
on the dollar. And then in 1996, [we] were targeted
by the only way I can describe it, have you ever heard of the movie
"Enemy of the State? JP: Oh sure. CA:
OK. Well I have someone who introduces me at conferences and says
"This woman played Will Smith in real life. Do you remember the role
that Will Smith played? JP: Oh absolutely.
CA: OK. Well what happened was we were targeted in a process
where we went through a period of having 18 audits and
investigations, and 12 pieces of litigation, and through that whole
sort of enforcement process, the honest people were pushed out of
HUD. And they pushed my company, and a series of other honest
contractors and government officials out. And what happened in the
year following that is HUD failed to produce audited financial
statements, and reported undocumentable adjustments of $59 billion,
that was in fiscal 1999. And throughout government in fiscal 1999
thru 2000/2001, there were reports of not only failure to produced
audited financial statements, but about $3.4 trillion of
undocumentable adjustments. Very, very significant. That works out
to about $11,000 per American resident. JP: Where do
all these losses get booked? CA: What was happening
[was that] annually, starting in 1995, the Federal government, the
auditors underneath the auspices of each agency's Inspector General,
would come forward and say, "This year we could or could not produce
audited financial statements, ... and part of the reason is that we
have undocumentable adjustments of $59 billion or whatever the
number was. And so in this annual sweep up whereby the individual
Inspector Generals would report into the Secretary of the Treasury
and to the General Accounting Office (which is the auditor for
Congress), it would come in through this annual sweep, and they
would come in and say, "OK, we can't produce audited financial
statements, and we have this much of undocumentable adjustments. At
some point after the numbers got really crazy, they just decided
after 9-11 to stop reporting them. Now, when people
say to me "What is $3.3 trillion of undocumentable adjustments?, let
me give you an example. In fiscal 2000, the Department of Defense
had $2.3 trillion in undocumentable adjustments. OK now, there's no
way for us to know Jim, how much of that translates into cash. Cause
$2.3 trillion is more than total taxes paid in a year by say tax
payers in that year would have paid taxes of about $1.6 trillion.
So, there's no way to know if $2.3 trillion translates into how much
cash, or how much cash is missing. What we do know is
that under the laws of the Constitution, which say money cannot be
spent unless it is appropriated. It is essentially a violation of
the Constitution to do that, with one exception. And this is where
the black budget comes up. There are provisions under the National
Security Act of 1947 and the CIA Act of 1949 for military and
military intelligence to crawl money from outside of different
agencies, budgets, and spend it on non-transparent purposes. That's
sometimes why it's called the "black budget. And what
I found out both as Assistant Secretary of Housing, and then what I
found with my company and with the group of honest guys kicked out
of HUD, was you had an agency whose legal purpose and political
purpose was to help finance the mortgage markets, whose mortgage
insurance programs were increasingly caught up in financing black
budget operations. And this is very much tied to what's going on in
the mortgage markets. By any chance Jim, do you watch
the Soprano TV show? JP: I don't watch television,
but I'm aware of some of the themes and things that go on in the
program. CA: Congratulations on that, because I don't
watch TV either. JP: (Laughter) CA:
Approximately 2 years ago, one of the things that developed on the
Soprano TV show was that Tony Soprano's new big business was HUD
financial fraud. And it's interesting that the financial fraud that
Tony Soprano was doing was very much one of the predominant kinds of
fraud in the HUD single family portfolio, but one of the one's used
to finance the black budget, and one of the models that was very
prevalent during Iran-Contra. JP: You know, it's
amazing Catherine as we've seen the U.S. develop more into a
financial economy, I guess a sign of the times the mob moves into
mortgage finance. CA: Yeah, it's really simple. If
you had a company Jim that was not being productive, the way that
that would stop is that ultimately somebody would pull the financing
on you. Your bank would pull your financing, the SEC would not let
you finance in the stock market at some point. If you had a local or
state government the credit agencies would pull the plug on you. But
part of the problem we've had in this country is that we have a
Federal Governmental apparatus that can be non-transparent, not
follow the laws of how money is supposed to work, function outside
the boundaries of the law, and yet continue to finance. The New York
Fed and the Federal Reserve can continue to print currency, and
continue to borrow a significant amount of money in the securities
market outside the boundaries of the law. And the
problem we have as investors is you know, one of my favorite people,
and he's been on your show before, is Bill Murphy and the guys at
GATA. They've done a terrific job of documenting the manipulation in
the gold markets. And for many years, I've tried to get Bill to
understand that the manipulation in the gold markets that he's
dealing with is the same people and same players that are
manipulating the mortgage markets and the mortgage bubble. And they
can do it, whether they do it in the gold market or the mortgage
markets because they have access to a Governmental apparatus and
financing apparatus which is non-accountable and not transparent.
JP: Catherine, this raises another subject in
addition to your own experience, this weekend's edition of Barons
did an article called "Swept Away it was how Fannie Mae keeps its
losses from sullying the bottom line. And many investors may not be
aware of the way the derivatives market works, but certain kind of
investments, if they're held for the long-term, or carried on the
balance sheet at cost (you never market them to market), other
investments that are considered for trading purposes are marked to
market, but there are certain accounting rules that allow not only
what you saw at HUD, but organizations like Fannie to sweep losses
onto the equity statement of their balance sheet. CA:
Right. I think the hardest thing about being an investor today is
how do you get accurate information about the real values how do you
understand what Fannie Mae or Freddie Mac's portfolio is really
worth? How do you trust the books? And it's unnerving because the
market you know, part of the thing that's keeping the stock prices
where they are from what I see is tremendous manipulation within the
markets. So we're looking at and tracking a political economy, not
something that behaves according to traditional economics. Because
you're not looking at honest books, and you're dealing in a
situation where you know, if in 1 year the Federal Government is
missing $2.3 trillion, where does that money go, and where is it
being reinvested? That's a huge cash flow that can take the markets
one way or another. JP: Well, the other thing that
you have too is even if you were to come from an accounting
background like myself or yourself, you look at Fannie Mae's 10-K
filings last year, they were 181 pages CA & JP:
(Laughter) JP: I mean that's become a novel! I mean
it's almost like you have to become Sherlock Holmes to really find
out what it is that you're looking at, and even then you don't know
what it is you have, because most people don't
realize that the bulk of the $200 trillion and that number just
astounds me in terms of its size CA: I know, it's
kind of overwhelming. Let's make it simple. Because 5 years ago I
decided that I was going to start traveling around the country by
car to see what was really happening on the ground. Because I think
you can always understand an economy by simply walking around and,
you know, when I was on Wall Street I used to do due diligence by
going to the company and just going up and down in the elevator and
talking to the secretaries. Let's talk about what things look like
on the ground in America, and what that means to the credit of a
Freddie Mac or a Fannie Mae. In the mid-90's Jim, we
knew that a huge amount of jobs and income-generating activities in
America were going to get outsourced to Asia. I mean, those
decisions were made in the early 90's, and we knew that was going to
happen. And I was a leader in Washington promoting a model whereby
Americans paid down their debt, refinanced their communities and
themselves on an equity basis, and redeveloped their skills. I mean,
we knew the workforce was going to have to reengineer itself, and
our pension funds and retirement arrangements were not going to be
financially credible unless the workforce reinvented itself, and
paid down its debt, you know, then. So we knew then
we had a problem. And what happened is was my team was kicked out of
Washington, and a decision was made instead of reengineering folks,
skills, or migrating them to equity and starting new businesses, a
decision was made to float the economy of the biggest wave of debt
that I can imagine. And what we've done is we've seen consumer debt
skyrocket. I have a member of my group, the Solari
Action Network, who reconfigures the BEA's statistics once a
quarter, and what his calculations show is very much what I see on
the ground in communities throughout America Jim, which is the
average American household has income of $32,000 per year, they have
expenses of $37,000 per year, and they finance that $5,000 per year
deficit with liquidating assets, working harder, or borrowing more.
And of course as you know, and it's clear from your website, that
the debt has gone not just the consumer debt has gone up-up-up, but
the mortgage debt has gone up-up-up. And now, that load is just
increasing every year, and meantime we are accelerating moving all
the jobs and income abroad. Now, when you move all
your income abroad, and you leave your growing debt at home, it
doesn't take long to understand what's going to happen to a Fannie
Mae or Freddie Mac or a Ginnie Mae. At some point the growing debt
has got to get serviced, and the question is how? You
can flood the country with immigrants who can buy up real estate
that you finance at the bottom, but at some point something's got to
give in the middle. I mean, if you shrink and collapse the middle
class, they're going to default on their mortgages.
JP: You would think Catherine though, given the size of this
Credit bubble that we're creating - not only in mortgages, in the
bond market, the proliferation of hedge funds that literally move
large amounts of money in and out of the market people would be
paying more attention to debt. But I hear stories, you get these
people on Wall Street that say we have no inflation, and the other
side of that story is as long as the Fed raises interest rates at a
measured pace, the stock market will continue to go up and consumers
will continue to spend money. None of that makes sense to me.
CA: (Laughter). It makes no sense, unless you, let me
give you an example. Last year we appropriated $87 billion for Iraq,
but the administration has repeatedly says it can't explain where
half of that money is going. It was interesting, one of the top
reporters who followed the $3.3 trillion of missing money, I asked
him the other day, I said, "Where do you think the $87 billion went
to? And they said, "Well, we think it went to finance the states,
deficits, because they were screaming about the states, deficits,
and then all of a sudden it stopped. We've had a
complete implosion of internal financial controls in the
governmental apparatus. $3.3 trillion missing from government is a
financial coup-d'etat. You can keep a bubble going as long as you
can finance it. And my guess is, again very much credited to Bill
Murphy, what we're watching is a securities operation both with the
Federal agencies, the mortgage agencies, and the U.S. Treasury,
which are financing a political economy. The money that comes in
from those debt operations are being used for other than their
lawful purposes. Here's the question: If we're
manipulating the gold market, who's financing that? Who's financing
the money that it costs to manipulate the gold market? Well, if $2.3
trillion is missing in a year, that's plenty enough to manipulate
the gold market and a lot of other markets. JP: You
know, you would think though Catherine, and this is why I just
wonder if we're coming up against some headwinds here, because
certainly even though you can manipulate markets, you can bring
interest rates down, you can keep asset prices inflated, but let's
bring this down to Main street. You've driven around looking at
these communities. If people are losing their jobs, if the jobs are
going overseas, if they're downsized where they're not making the
same kind of income they used to make let's say 5, 10, 15 years ago,
they're adding more debt, even though that debt is at a lower
interest rate, there comes a point where you can't get any more
debt, nobody wants to give you another credit card, or the bank
simply will not give you another home equity loan. I mean at some
point you run up against a wall. CA: Right, and
that's where we are. I'm in Washington DC today, but I live in
Hickory Valley Tennessee. In western Tennessee, in many of the
communities, we're in a state of depression. I mean, the middle
class is essentially being wiped out. And, you're absolutely right,
without that fundamental productivity in the economy, there can be
no economic gains. Now you can get some economic gains by moving in
lots of immigrants. I mean, my impression Jim is that the borders
are open, and America is experiencing very rapid immigration, and
that's part of what's keeping the economy propped up. You can also
keep activity going as long as you can finance the U.S. economy by
borrowing more money, and printing more dollars, and pushing more
dollars out. But we've reached a point where immigration and warfare
are two economic activities after a bubble, but what we've been
watching for years in this country is very significant falling
productivity JP: Explain the productivity miracle
that Greenspan trumpets every time he's on top of Capitol Hill.
CA: We're running the economy to centralize wealth.
We're using what I call a negative return on investment Governmental
apparatus, both the budget and the credit and regulation, to
centralize bank deposits, centralize purchases, centralize
investments. We're centralizing political and economic power. And in
the process of that, we're doing not what I call privatization,
privatization is when you transfer government assets to private
investors at market price. "Piratization" is when you transfer
government assets to private investors at significantly below market
prices. So we're going through the process of using the Governmental
apparatus to centralize economic power and wealth in a way that
shrinks the total pie. And Greenspan's job is to put a pretty face
on that. And the mortgage bubble's job, and the U.S. Treasury
securities fraud, is to finance that. So it's good
for Greenspan, it's good for the people he works for, it's terrible
for the economy, and it's certainly terrible for people like you and
me. And an honest finance guy is at a huge disadvantage in this
environment JP: It almost seems like we're turning
the population in the U.S. into economic serfs, because you know,
you take a two income family today, between what it costs to buy a
house, own two cars and make payments, and send your kids to school,
there's nothing left over. CA: Well think about it
this way. Another way to look at it is, say the average taxes per
resident is about $5,000. And 85% of that, or say $4,700, is going
to agencies who refuse to produce audited financial statements or
reliable financial systems. And if you study the black budget,
increasingly what you're seeing is that money is going to support
private corporations and private banks who are using those resources
to basically steal community assets out from under them. So you're
basically financing an operation which is stealing all your
political powers and economic wealth. It's a dream.
JP: Yeah, what this is, is a giant wealth transfer. And I
remember, was is it Hayek's book "The Road to Serfdom
CA: [Catherine proceeds to expand on her alternative "open
source model of community equity financing i.e. "securitizing small
business income quoting Catherine, "I mean, why do we need a big
corporation to come in and privatize our water? Why don't we just
privatize our water, create a liquid security, and get the capital
gains for ourselves? and again, "There are tremendous opportunities
to reengineer this. Because whenever you have an economy that is
this unproductive and this negative, if and where you can turn it
around, the capital gains opportunities are absolutely enormous.]
JP: So, maybe this is a grassroots movement that
begins at this kind of level Catherine, because certainly large
corporations today are outsourcing our jobs. And it's really the
small businessman whose local that is the creator of jobs.
CA: Absolutely. But right now, you know if you come
to a Rotary International lunch , right now the local small business
guys are playing with multiples of 1-5x, and they're getting clocked
by the large corporations, because they can finance at multiples of
20 and 30x JP: What has been the reception to this so
far? CA: Well, so far the reception has been
tremendous, except from the Department of Justice and the Black
Budget guys (laughter). We were prototyping 100 of these in 1998
Jim, and part of it was we had a software tool called Community
Wizard, where you could dial in, say if you lived in San Diego, you
could dial into Community Wizard and start to download all the data
about how the money worked in San Diego. And what we didn't realize
at the time, because we were just naïve, was that that was
illuminating a lot of the black budget fraud that was in the Federal
mortgage portfolios. And, for example, when I was Assistant
Secretary, I'd get these inventories that said we had 10 buildings
on this block and I'd go fly there and I'd go drive by the block,
and there'd be no 10 buildings there. So the problem
was when Community Wizard would illuminate you know the databases on
what the Federal Government was doing in the mortgage business, and
citizens in their community could get those numbers and police them,
and see the money contiguous to the world where they walked around
and drove around, and the lies came to the fore. And now wherever I
go, I get tremendous and positive response You know,
I'm a great believer that centralization is really nowhere near as
productive as decentralization. JP: Catherine,
getting back to the other economy that's out there now, the Credit
Bubble, Fannie Mae, Freddie Mac, all of this Credit financing,
what's your view in terms of how this ends. I can't help but
see this whole thing crumbling, and maybe it's a private
initiative that rises from the ashes such as the things that you're
proposing that rebuild this economy, because certainly we have
hollowed out this country in terms of what we've done to
manufacturing. And you can't create wealth by just printing money
and borrowing money. CA: Right. I think there are two
scenarios. One is the bust, which is this thing keeps going as long
as it can be financed by the U.S. governmental apparatus, and at
some point, you know, as the Japanese and everyone else says we're
not buying any more of this, we're not taking more dollars, the
thing busts. And when it busts, what you're going to have is, it's
going to be 1929 but worse. Because in 1929, there was a lot of
social capital in America. It was a much kinder, gentler place I
think than it is now. And you had many more people that knew how to
grow their own food, or knew how to function. So one scenario is the
bust. The other scenario though Jim is the Orwellian
scenario, which is we've reached a point, and I've written many
articles about this, where rather than let financial assets adjust,
the powers that be now have the control of the economy through the
banking system and through the governmental apparatus, they can
simply steal more money, keep financial assets, you know whether
it's the stock market pumped up, the derivatives going, or the gold
price manipulated down. And they simply liquidate all living things
rather than let the economy go bust. In other words, you can adjust
to your economy not by letting the value of the stock market or
financial assets fall, but you can use warfare and organized crime
to liquidate and steal whatever it is you need to keep the game
going. And that's the kind of Orwellian scenario whereby you can
basically keep this thing going, but in a way that leads to a highly
totalitarian government and economy corporate feudalism.
JP: It almost sounds like we're heading in that direction in
some sense in terms of the words that they use, the way the
statistics are manipulated, "seasonally adjusted (laughter), I love
those words. "Seasonally adjusted, what does that mean? Does that
mean they're going to make the weather go away? I mean we'll just
have sunshine every day. When you take labor numbers where we have 7
or 8 thousand actual jobs created, and I call them hypothetical
jobs, we turn them into 300,000 jobs. Or you have inflation
statistics that take everything that goes up and then adjust it for
quality adjustments so there's no price increases CA:
Right, those statistics have really reached a point where they're
just almost worthless. My vision is citizen controlled and led
transparency because at this point I just don't trust government to
provide it. We're looking at an economy that is phenomenally
manipulated and unfortunately Jim, digital technology has allowed a
level of manipulation that people like you and I just couldn't
envision. But yeah, I think it's very hard for me to
fathom how we can avoid the bust scenario. But in theory we can, as
long as we continue to finance it, and part of that is rolling out
alternative technology. I mean, we have the technology we need to
provide alternatives to fossil fuel, but we haven't integrated them
into the infrastructure. And as you know, it's one thing to have a
technology, it's another to train a whole generation of people how
to use it and how to integrate it into their businesses.
The scenarios that people discuss about peak oil are absolutely
possible. Either one is possible, that we could have a bust, or sort
of the Orwellian process but we simply destroy the middle class.
JP: You almost wonder if that's indeed the way we're
going, because certainly, you know I can't imagine Catherine the
average person on Main street, let's say he picks up the newspaper
in the morning and he's reading that a government report says
there's no inflation. Or he turns on the TV and he sees a news clip
of Alan Greenspan talking about wonderful productivity, miracles
going on with assets, and then the poor guy goes to work, pulls into
maybe the filling station on the way to fill up his tank of gas, and
then maybe on weekends goes to the grocery store or maybe he has to
visit the doctor, and he's seeing his costs go up in a way that
isn't described anywhere in the financial media. Yeah, they may talk
about rising gas prices, but I always here this word "benign
inflation. What does that mean? CA: Well it's funny,
one of the things that was wonderful when I first moved to Hardeman
County (Tennessee), I was driving around with one of the local
farmers who was telling me essentially that they weren't efficient
like the corporations. And, you know, we got into it a little bit
more and what I discovered is that they didn't understand that they
were having to compete on a basis where their revenues were greater
than their overhead, and what they didn't realize was that local
food franchise was laundering money and doing pump-and-dump stock
market fraud, and so that they didn't have to generate revenue
sufficient to cover their expenses. And the problem wasn't that the
small farmer was "out of it, or not clever, it was the small farmer
was honest, and was up against competition that was essentially
practicing organized crime. And so I think part of the challenge is
if you, re sort of a regular guy in America, you're in the middle of
economic warfare, and how do you see the game? How do you see the
game clearly? And how do you see the game in a way that you then
have the opportunity to do something about it? Cause there's no
sense in seeing the game if it just depresses you to no end. So how
do you see the game, and then how do you organize? It's funny, when
I started to do speaking tours about the financial fraud in
Washington, somebody said to me "Do you think there is a conspiracy?
And I said, "Look, don't worry about if there is a conspiracy, you
need to start one. JP: (Laughter) CA:
And the idea was, you know, we need to organize, if we're going to
function in political markets and the political economy, and
government is essentially going to be controlled by private players
who are using that governmental apparatus to outfox us in the game
of economic warfare, we need to organize to do the same. So we need
to see that we're in a game of spiritual and economic warfare, and
organize accordingly. So the average guy is going to have to figure
out how he can, in fact, start whether it's locally or network
globally. The pro-decentralization team, the honest guys, are going
to have to start forming conspiracies to shift the resources back to
us. JP: Well it seems like one way to do that
Catherine would be in a world that's full of fiat currency floating
around is to own something real and tangible, which is to own the
gold and the silver. CA: Absolutely. Absolutely. One
of the great new vehicles in my life is I use Gold Money. I don't
know if you've used any of this Digital Gold? But it's quite
marvelous. Have you had James Turk on your show yet?
JP: Yeah, we've had him, and James is coming back in the month
of June, which is going to be devoted to gold and silver.
CA: Great. I'm a very satisfied Gold Money consumer. And I'm a
great believer in the precious metals right now. We've certainly
seen it manipulated down, and it's certainly a manipulated market,
but I feel very confident that the price of gold has quite a floor
under it, and I think it's going to go up quite a lot in the next
couple of years. JP: (Comments on gold investment)
CAF Exactly, Exactly You know something Jim, I've
been stunned because, remember I spoke at the National Press Club
with Murphy about 2 years ago, GATA did a great press conference,
and C-SPAN covered it. And I would never have believed that they
could keep the manipulation going on this long. At the same time, I
don't think that they can use the governmental apparatus to finance
this game much longer, and I think precious metals have a tremendous
market following. And so there's a fundamental economic support for
precious metals that you can count on. So that's an investment that
I believe in, and I agree with you absolutely, and they can't do
this forever. At some point, land has value and gold has value.
************** BACKGROUND
Solari http://www.solari.com Where
is the Money? http://www.whereisthemoney.org
Articles: The Myth of the Rule of Law by Catherine Austin
Fitts November 2001, SRA Quarterly, London http://www.solari.com/gideon/articles/q301.pdf
Where is the Collateral? by Chris Sanders http://www.whereisthemoney.org/S00223_collateral.htm
* Catherine Austin Fitts is the President of Solari,
Inc, an investment advisor (in formation) created to invest in
equity managed by a Solari, an investment databank and investment
advisor for a place, and to promote Solari Circles and Solari Circle
Investor Clubs, clubs focused on local investment. She is a former
Assistant Secretary of Housing-Federal Housing Commissioner in the
first Bush Administration, a former managing director and member of
the board of Dillon, Read & Co, Inc. and President of The
Hamilton Securities Group, Inc. Catherine provides risk management
services to investors through Sanders Research Associates in London.
She writes "The Real Deal column for Scoop Media New Zealand.
Website: http://www.solari.com E-mail: Catherine@solari.com
Copyright (c) Scoop Media FOR AUDIO SEE http://www.financialsense.com/Experts/2004/AustinFitts.html
Unexplained
No advertising orders for January 2005
Then you
combine that with other little signs and it gets really disquieting.
For instance, there was a surprise announcement from Clear Channel
Communications, (which they refused to elaborate on), that Clear
Channel will not take any pre-sales of advertisement for the month
of January 2005.
They’re not
taking any new advertising. Then another announcement by Sinclair
Broadcasting said the same thing -- that Sinclair wouldn’t take any
advertisement for the month of January 2005either.
What does that
tell you? The only time that this has happened before, by the way,
was in October 1962, around the time of the Cuban missile crisis,
when the White House told the networks not to accept any further
advertising because the government may invoke its emergency power to
commandeer the nation’s broadcasters. That’s the only time it’s
happened before.
To read the rest of the article go to :
http://www.solomonstemple.com/modules.php?name=News&file=article&sid=480
FAHRENHEIT
9/11, IRAQ AND THE
EMERGING WORLD GOVERNMENT By Jack Allis
August 8, 2004
I'm thrilled at the popularity of Michael Moore's movie
Fahrenheit 9/11, and that the American people appear to waking up to
the fact that there is something very fishy about the mainstream
version of 9/11, and the entire war in Iraq. At the very least, this
single event just might play a seminal role in turning the tide of
the presidential election against George Bush.
However, in the furor that Fahrenheit 9/11 is stirring up, and
the crippling revelations it makes about the President, it is
critically important that we don't lose sight of the big picture,
and get distracted from the real issues. Let's not forget that
Michael Moore is a liberal democrat, in the tradition of Clinton,
Carter, JFK and FDR, and his primary objective is getting Mr. Bush
out of office. I have read that Mr. Moore is ambivalent about the
candidacy of John Kerry, who himself is clearly fuzzy about where he
stands on the war, and definitely does not favor doing the right
thing: admitting it was a horrific blunder, putting an immediate end
to it, and begging the forgiveness of the people of Iraq.
As many Americans are coming to realize, the choice between
Bush and Kerry is no choice at all. It's tweedledum versus
tweedledee. The two major parties are indistinguishable. From a
philosophical point of view, they both stand for precisely the same
thing: an elitist big government, whose primary purpose is
collecting revenue, and which operates on the assumption it has the
moral duty to rule its subjects, and control every aspect of their
lives because they are too helpless and stupid to do it for
themselves. I think I can hear the Earth rumble as our Founding
Fathers role over in their graves.
In this context, Michael Moore completely misses the big
picture, and he is, in fact, part of the problem. What is the big
picture? The key lies in understanding the truth about who really
controls the world, and what their goals and strategies are.
Contrary to popular belief, it is not the governments of the major
nations or their leaders who are in charge, which puts George Bush
in his true light. He is the puppet leader of a puppet government,
albeit the most powerful one in the world.
The source of real power rests with a handful of people who
control our money, and who in turn control the information we have
access to. Real power is in the hands of an alliance of the largest
international banking families and the owners and chief executives
of the huge multi-national corporations, which also own all the
major media outlets. With the capability to create money and control
the supply of that money, the banking establishment, at its highest
levels, has practically unlimited power to control world events. And
with this group's monopoly of information through the mainstream
media, they have the ability to shape the thinking of the people of
the world.
This group, let's call them the global elite, operates
primarily behind the scenes, and uses highly secretive international
organizations like the Royal Institute of International Affairs out
of London and the Council on Foreign Relations out of New York to
coordinate its plan. And what is that plan? Simply stated, it is
world government, with one army, one currency, and a central data
bank that would know virtually everything about everybody.
Obviously, they are doing a superb job of bringing this about right
now.
Their primary tactic to achieve this goal is to keep the world
in a constant state of crisis, and to keep the people of the world
in a constant state of fear. If the problems are catastrophic
enough, people will be more willing to give up their freedom to big
government, and to believe that the solutions, ultimately, are
beyond the scope of any single nation state, and can only be
provided by the international organizations that are popping up all
over the place, such as the UN, NATO, the World Bank, the IMF, GATT,
the EU - the list goes on and on, all of which are creations of this
global elite, and which operate outside the authority of any
government. It is a tragic irony that the more problems they create,
the better it is for them, and the more power they can grab.
With this as our backdrop, the events of 9/11, the war in Iraq
and Fahrenheit 9/11 fit perfectly into the big picture. For obvious
reasons, a tragedy like 9/11, regardless of who did it, comes in
very handy, and is very useful to the global elite in moving toward
their desired goal of world government. To the Bush people, the real
purpose of the war might be about oil and/or strategic positioning
in the Middle East, but not to the global elite. Like Vietnam, the
US finds itself in a war it cannot possibly win, which will
seriously drain its money and resources, and damage its credibility
and reputation around the world.
This happens to be precisely what the global elite wants. A
critical part of their agenda is eroding the sovereignty and power
of the US. A strong US are more likely to stand alone, and resist
the emerging world government. And if John Kerry is elected, it will
be with a mandate to correct the blunders of George Bush. A probable
way he will do this is to come up with a peace plan for Iraq that
will expand the role of the UN and NATO, and other international
organizations, enhancing their presence in the Middle East, and
taking yet one more step in the march toward world government.
Stratia Corporation is a producer of alternative educational
programs. One of the primary focuses of this education is
establishing the truth about how the world really works, and
corroborating, beyond any reasonable doubt, the validity of what you
are reading here. We realize this is shocking for most people, but
we believe we are far better off knowing the truth than allowing
ourselves to be manipulated to stay in the dark.
Ultimately, the truth is our most important weapon in
the struggle to create a better world, and it is the truth that
will set us free.
###
"Any truth is better than make-believe ... rather than
love, than money, than fame, give me truth." --Henry David
Thoreau (the American master of Civil Disobedience and national
conscience, who died at the young age of 42 in very good health in
1862, preventing him from adding his voice against the fact and
conduct of the Civil War)
© 2004 - Jack Allis - All Rights Reserved
Jack Allis is one of several speakers for Stratia
Corporation, which is a producer of alternative educational
programs, dealing with topics such as personal and financial
freedom, alternative and natural health, the truth behind the
headlines of the mainstream news, and taking complete responsibility
for our own lives. Jack also hosts a weekly Tele-seminar series for
Stratia, and writes articles for their monthly newsletter, The
Stratia Perspective. He is also the author of two novels, Infinity's
Children and Masters of Destiny.
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