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October 13, 2008
by Stephen Neitzke  
Unconstitutional Passage
Of The $700 Billion Bailout,
263-171, By Felony Conspiracy
In The House of Representatives
No member of the House of Representatives can legitimately vote "aye" on any bill for revenue originated in the Senate. All such bills are absolutely unconstitutional. An "aye" vote on such a bill violates the member's oath to uphold and defend the Constitution against all enemies, foreign and domestic. An "aye" vote also violates 18 USC 241, making the member a co-conspirator in the felony conspiracy to force Americans to live under law not passed in accord with the Constitution.
BAILOUT POST SCRIPT
This is the difference between national American leadership and Unamerican Fascist power-holders.
National American leadership works within the Constitution and under the rule of law for the benefit of the majority of citizens, across the lines of race, economic standing, and social class.
Unamerican fascist power-holders -- who use lies to falsely posture themselves as American leadership, see especially the presidential campaign materials and statements of the twin Senatorial constitutional criminals and felons-in-waiting McCain and Obama -- -- work outside the Constitution and above the rule of law for the benefit of those superrich whites in the highest economic standings and in the highest social classes. They wage class warfare to redistribute wealth from the middle classes and poor to the superrich -- with no conscience of how their actions harm the middle classes -- all the while lying through their fascist teeth about how their actions are the best thing for everybody.
We've had no American leadership since before Reagan. Even then, what little American leadership we had was so overwhelmed by fascists in and out of govt as to be completely ineffective.
GW Bush is the first blatantly fascist power-holder in the presidency. Not only is he a Constitutional Criminal, but he is also a co-conspirator in the felony murders of our soldiers fighting in his unconstitutional and felonious, aggressive war in Iraq. That is, he is clearly guilty of over 4,000 capital crimes -- and still wrecking the Constitution from the office of president.
In comparison, his role as co-conspirator in the felony conspiracy to pass the $700 BILLION bailout of criminal corporations seems a trite and minor crime. However, many Americans emotionally believe, or hold intellectual convictions, that the toxic paper bailout is a rear-guard action to keep the fascist superrich in place until the derivatives marketplace can completely crash.
The subsequent worldwide depression will give Bush and his cronies the excuse they need to activate the secretly and deeply planned North American Union, wipe out the CANUSMEX borders, lose the US Constitution, and make billions of dollars in the conversion from the US Dollar, Canadian Dollar, and Mexican Peso to the Amero. They will undoubtedly improve on the billions of dollars made by the European fascist elites in the conversion from various national currencies to the Euro.
There is no doubt that a derivatives crash capable of causing a world-wide depression is coming. The value that can be known of the outstanding derivatives, $677 TRILLION per the current quarterly report of the Bank of International Settlements, is about ten times the $65 TRILLION value of the current annual world product and 967 times the US $700 BILLION bailout.
Additionally, there are trillions of dollars in globally-held CDSs -- Credit Derivative Swaps, aka, default insurance -- that cannot be accurately valued by anyone. The loose concensus of a total is $54 TRILLION, but nobody really knows. The failure of the Swaps market may very well be the bomb that is already bringing down the whole flimsy house of cards.
While the CDS market is wholly unregulated by any govt anywhere in the world, its pretend-self-regulation -- a thing demanded and pretended at since the 1870s by all laissez-faire corporate fascists as a rationale for keeping govt out of corporate money matters -- is about to run up onto its own contract settlement dates.
The CDS contract settlement dates are going to sort out the bunches of lies that Bush and his crony criminals around the world have been hiding behind for a very long time. They are also going to show with dramatic clarity why the need for speed caused the whole Congressional branch of the US fascist despotism to rifle-shot through a bailout revenue bill unconstitutionally originated in the Senate.
The contract settlement dates are 10 October 2008 for the Lehman Bros CDS contracts (calculated to be valued at $350 billion to $400 billion) and 23 October 2008 for the Washington Mutual CDS contracts.
Those dates are when the "ripple effects" of Lehman and WaMu failures come alive.
"Ripple effects" is the sort of nazi wording favored by corporate fascists, where words can diminish the global avalanche that will sweep us into the Great Depression II.
The avalanche effects springing out of the contract settlement dates will more clearly delineate the magnitude of the crashing credit market (derivatives), crashing equities market (stocks), and crashing currency market (dollar, yen, euro, etc.).
So far, we've just seen a couple tips of the proverbial ice berg. We know that derivatives are bad. Fraudulent subprime mortgages laced into packages with other derivatives have crashed some of the biggest financial institutions to ever exist, in and out of the US. We know that stocks on the NYSE have tanked 1400 points in the first five trading days of October 2008. On Monday and Tuesday, 06 and 07 October, the Dow lost about 883 points. On Tuesday 07 October, about 2800 stocks lost value, while only about 400 gained value. So equities are bad. The sum total of currency market crashing across the two contract settlement dates will tell us approximately how bad the currency market is.
Between litigation from the defrauded, job losses and consequent credit losses, the glut of home foreclosures reducing all home values, and the raw write-offs of bad debt, there is no chance that the financial fascists -- foreign and domestic -- can stay ahead of the worldwide depression curve.
Our fascist power-holders in the Congressional branch of the 3-branch fascist despotism have unconstitutionally given away $700 BILLION of our money -- and wasted a bunch of our time -- to save things that cannot be saved. Further, the bailout action has deprived us of the national discussion of how best to prepare for the coming depression. In doing these things, the Unamerican fascist power-holders have further betrayed country and ordinary people.
The American people have been politically defrauded. Still, we've had warnings deluxe for decades. We've massively ignored those warnings -- arrogant to the end in our belief that we have the best democracy -- that fascism can't happen here.
The fascist elites were not ready for the Great Depression of the 1930s. As a class, they were hurt badly. Just the advent of the FDR administrations -- pro-democratic, anti-fascist -- hurt them badly.
This time, they've had 30-40 years to wreck FDR's New Deal and to computer model what will happen financially as they make their moves. They're obviously convinced that they know how they can come out of the coming worldwide depression with their social, economic, and political power intact. What is happening would not be happening otherwise.
Nothing of significance in financial matters happens by accident to the global fascist elites. They are ethical morons, but they are financial geniuses. Anyone who believes that the derivatives crash is blowback is too naive to be in this world.
Global fascist societies -- the "secret societies" of the pooh-poohed conspiracy theorists -- from the CFR (Council for Foreign Affairs), to the Trilateral Commission, to the Bilderberg Group, have surely spent big money on supercomputer modeling the results of the derivatives crash. As a class, the fascist superrich are obviously ready for this coming worldwide depression. Clearly, they have no fear of the results. Clearly, they are not concerned with the welfare or survival of ordinary people -- except perhaps as corporate zombies.
We've just been unconstitutionally forced into losing another $700 billion for the greater glory and benefit of a few financial criminals.
Welcome to Diebold Selection 2008, where thumb-suckers across the country will go the polls for one constitutional-criminal/felon or the other.
Don't vote.
NOTE: CDS contract settlements -- aka, CDS auctions -- are widely ignored by the fascist corporate media. Clearly, Bush and cronies do not want the public to know about this out-of-control, depression-capable factor. CDS settlements have a huge potential for financial violence. The settlements, triggered by various kinds of corporate failures that consequently violate the CDS contracts, are a large part of the current credit crisis. Any financial institutions who are partiies to those contracts might be legally required to settle their monetary obligations in those contracts on the settlement date, or go into failure themselves. Because of the nature of the CDS contracts, corporations frequently do not know what their cash liability might be. Consequently, all corporations with such CDS contracts at failed corporations such as Lehman Bros and Washington Mutual must build and hoard cash -- not lend it -- in case they are required to pay. If CDS settlements causes other corporations to fail, more CDS settlements are triggered in the failed corporations, causing a cascade of ever-growing currency requirements. And because the CDS market is global, the potential for losses in tens of trillions of dollars across many currencies is very high.
For more info, see especially --
"Of October CDS Auctions and Helicopter Ben", by Stephen Hsu.
"Another Reason for Cash Hoarding: Big Credit Default Swaps Market Test Imminent", by Yives Smith.
"Behind the Turmoil", by Elizabeth MacDonald
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Stephen Neitzke [send him email] is the founder of the Direct Democracy League. He is the author of "The State of the Republic, 1776-2004" as well as a number of other works, which can be found at www.ddleague-usa.net and on his blog at http://ddrevival.blogspot.com/
© 2008 Stephen Neitzke
AAIGMBTY
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