International Forecaster Weekly

No Habeas Corpus

No habeas corpus... CEO forecast is dim... Pat Robertson... Valerie Plame... Porter Goss... GM is bankrupt... engineering shortages... property usurpage... and more!

Bob Chapman | October 16, 2005

Our President and our government believe that they have the power to arrest citizens and hold them indefinitely denying us the rights of habeas corpus. In fact, they don’t have to arrest you. Under their interpretation of law they can detain you indefinitely without charges. Something that only occurs under despotic governments. It is occurring under our government against Americans and foreigners. They are kidnapping people off the streets all over the world and little is being done about it. We recommend that you contact your elected representatives and tell them how you feel about the issue.

In an effort to force oil drilling rich fields near the Arctic National Wildlife Refuge, Alaska’s director of oil and gas has demanded that Exxon Mobil drill their Point Thomson Unit, which they have been sitting on for 30 years, or lose it. Others involved are BP Exploration, Chevron USA and Conoco Phillips Alaska. This past week the state found Exxon Mobil in default.

The elitists may believe they can stay in power and change the future by manipulating markets. They are going to find out you cannot shape destiny and that the people in this world do not need them to tell them how to live. They do not need the future shaped for them by a corporatist fascist government, and they do not need manipulated markets. We do not need the mind control and psychological warfare directed at us by those in government, and by those who control government from behind the scenes. As we have told you before, these people have tried this again and again since the twelfth century and they have been perpetually unsuccessful. They may have retained power, but not the ultimate power that they desperately seek. Events always have happened to stop them and we believe that has happened. That is what Katrina and Rita are all about. From their point of view the wrong thing at the wrong time. From our point of view it’s the straw that broke the camels’ backs. The elitists have to come to terms with failure. A financial and economic system that faces collapse, which they have lost control of. The lies and disinformation won’t cut it anymore. Reality is going to be difficult beyond anything they or the public can imagine. All of you who do not want to deal with the truth and reality are going to be forced to do so. Inflation is headed to 15% and higher. You won’t find that in the media, but that is reality. Look at our money and credit expansion figures that we release every week. Do they look like monetary aggregates are decreasing? Of course not. They are still increasing in leaps and bounds. The elitist Fed still doesn’t get it, even though throughout history such methods have always been totally unsuccessful. Desperately they continue to inflate knowing that they are only buying time. Government and the consumer are hopelessly in debt and have no way out. The economy has been weakening for three months, inflation is increasing and the effect of Katrina and Rita to put the economy more off balance are now just really being felt. The BLS statistics on CPI and unemployment are totally laughable. Meanwhile, as of last week, the 30-year fixed mortgage rate is at 5.98%. In December, it could be 6 1/2% to 7%. Then we have an administration that is the biggest deficit spender of all time. Contrary to what experts might think about foreign central banks buying US Treasury and Agency debt, for now at least they will continue to see them spend $3 to $4 billion a day. Most of these banks will eventually stop, but the $4 trillion from the Postal Savings Plan in hand Japan will endlessly buy US debt – that is part of their partnership with the US. After that the Fed will monetize US debt sending inflation into the stratosphere. The spiral is already out of the Fed’s hands. From here on it gets nasty and gold and silver explode. You have just seen the end of the last dollar rally. If the ECB raises interest rates, in spite of a recession, due to inflation, the euro will at worst hold its own and perhaps it will rise back to 1.3666. The only reason in recent months the dollar has rallied is that interest rates have risen and there has been combined manipulation efforts by central banks. Economists, analysts and most newsletter writers are fixated on interest rates and they haven’t noticed a year-to-date and year-to-year increase of some 15% in credit. Can they be that dumb or do they almost all have a vested interest in deceiving the public in regard to what is really going on? Private foreign money sees this and is long gone. They also have not overlooked the fact that the US now has a corporatist fascist government.

Socialist governments are bad enough, but they usually tend to be passive. Fascist governments by their domineering nature are aggressive and eventually that has always led to their destruction. Their greed and their megalomania for control eventually destroys them via overreach. A word to the wise should be sufficient. Batten down the hatches. The storm ahead will be far worse and much longer lasting than Katrina and Rita.

The Business Council and Conference says less than 15% of CEO’s polled expect business conditions to improve over the next six months, from 40% in the previous survey in February. Only 27% expect improvements to continue in their industries, down from 43.2% in February. Twenty-one percent now expect pricing power to increase, down from 28% in February. Once we hit the bottom of this bear economic market we expect realized losses of $15 trillion at a minimum.

In case you hadn’t considered it we expect gasoline rationing in the future. This is another way of controlling the public - another concept of trading freedom for security.

If you don’t think the market is rigged you are dumb. Last Friday, the Dow was down 100 points with 20 minutes to go. It ended the day up 5 points, enough said!

In September, average hourly earnings rose 0.2% and weekly hours were unchanged at 33.7. Wholesale inventories rose 0.5%.

Sir Alan Greenspan retires from the Fed on January 31, 2006. Each time a Fed Chairmanship has changed, the transition has been difficult. The period is used by the elitists to make major changes. This time the change could be explosive with profound implications at a time when the economy and financial markets will be in a negative state of enormous change. The change of chairmanship couldn’t have come at a more inopportune time. The change is a very serious event. The investment community has given Sir Alan the aura of supernatural-god-like qualities. His departure will be difficult if not wrenching. Wall Street’s security blanket will be gone. Knowing that many on Wall Street will be bailing out of the market.

Another difficult and salient point is that the successor will be inheriting a current account deficit of at least 6.5% of GDP, which is more than four times the average external shortfall of 1.5% in the previous transitions in 1978, 1979 and 1987. There is no national savings, we have an energy crisis and debt, both governmental and personal, and it is out of control Foreign central banks will be reluctant to some extent to finance debt service and interest rates will as a result trend higher as inflation increases in spite of a slowing economy. George W. Bush is going to insist that the fellow elitists that control him allow him to have whoever shares the goals and objectives of his political agenda. If this happens, US and world markets are going to take a heavy hit. It also means a lower dollar, especially versus gold, and higher interest rates – perhaps much higher interest rates. Those rates in turn will eventually stem inflation, but due to the mega-debt will turn to deflation and depression. If Bush’s appointment agenda follows its previous path, his choice will seriously impair credibility and perception. This needless to say will compound problems. By the time the announcement is made for a successor, markets will be in free fall and gold and silver will be substantially higher.

There is now no question that televangelist Pat Robertson is a front man for George W. Bush. On a recent CNN program he again ranted that Venezuelan President Hugo Chavez Frias was setting up a Marxist-type dictatorship in Venezuela and spreading Marxism throughout South America. Pat also informed us Mr. Chavez is negotiating with Iran for nuclear material and he supplied $1.2 million in cash to Osama bin Laden just after 9/11. Robertson also informed us that Venezuela and Mr. Chavez is a nuclear threat to the US. Needless to say, Preacher Robertson provided no background and no proof. We expect George and the neocons will ignore the latest outburst if possible. If they have to answer they’ll deny any connection. Pat Robertson’s comments are terrorist and criminal, but nothing will be done about his comments. That is the way it works in a corporatist fascist state.

Due to the Valerie Plame affair and the acts of George and the neocons the CIA has been unable to recruit spies. No one wants to be left twisting in the wind. The outing of Ms. Plame has done irreparable harm to US clandestine operations and caused the death of over 100 of our undercover operatives. Valerie Plame was an exceptional officer who even worked under non-official cover. In other words if you are caught we do not know who you are. Yet, she and her operatives were betrayed by George and the neocons simply because they wanted payback because her husband exposed these criminals for what they are and that the excuse for war WMD was a scam. He exposed the liar in chief. If Patrick Fitzgerald proceeds with the indictments we believe the Nigerian forgeries will prove to be the work of VP Dick Cheney and Lewis Libby. The special prosecutor should also indict Senate Intelligence Committee Pat Roberts (R-KN) who adamantly refused to investigate the forgery used to start a war. Americans what you have witnessed is betrayal and treason.

The future of the CIA looks bleak under the leadership of Director Porter Goss. Conflict between top CIA managers and Goss’ inner circle are now coming into the open. All the best people have resigned, been forced to resign or are taking early retirement. The neocons have turned the CIA into a shambles. Goss is about to consider punishing individuals for failures that took place prior to 9/11. That is over four years ago. This is, of course, to deflect blame from the neocons.

Mr. Bush has directed the agency to hire several thousand more analysts and officers over the next several years. It will take a lot more than new employees to bring credibility back to the agency. Only time will tell how much damage these idiots have inflicted on our country.

Delphi, the nation’s largest auto supplier, is bankrupt. Production and 35,000 high paying American jobs are being moved to China. 12,000 retirees will receive one-third of their pensions from the PBGC, which is from us, the American taxpayer. You can thank General Motors for a failure that was planned 25 years ago. Delphi wants to cut the wages of 35,000 workers by two-thirds, or to $10.00 an hour to compete with China. Delphi employs 185,000 workers worldwide.

GM’s future liabilities will increase by $11 billion and in three years or less GM will file bankruptcy and their business will be sold off in segments to vulture investors.

In order to try to avoid bankruptcy Delphi wanted workers to take wages of $10 to $12 an hour instead of $26 to $30 that they make today. Delphi will also stop paying 4,000 workers who no longer have jobs to do. At the same time the company management increased the severance packages of its top 21 executives. Once again, corporate America cannot help itself.

They are consumed with greed. We see a disgusting spectacle of the people at the top taking care of themselves and at the same time demanding extraordinary sacrifices from their hourly workers. Delphi was the 63rd largest US company with annual revenues of $28.62 billion. Our Congress and the American people just don’t get it. There economy is being ripped out from underneath them. Their entire society is being destroyed and no one seems to care. The answer is protective tariffs and quotas and a reversal of our national policy of free trade and globalization.

The NASD has fined eight brokerage houses, including units of Prudential and Lord Abbett $7.8 million for taking kickbacks from mutual funds. In June, another 15 brokerages were fined $34 million for the same reason.

Complying with The Patriot Act is a major concern for the boards of financial-services firms, topping worries about the economy, off-shoring and financial disclosure requirements. Finance-services companies are now required under the Act to be able to identify their customers and improve their monitoring systems and reporting of suspicious activity. They have to spy for our government or they get charged.

Secretary of State Rice rebuked Uzbekistan for not answering the US regarding an international inquiry into the Andijan Massacre. The US was happy to overlook the event until President Islam Karimov kicked them out of Karshi-Khanabad. Miss Rice said they were out of step with the political trends in Central Asia. If you are not in lock step with the neocons you are liquidated. For the US this is payback Karimov rejected US and European calls for an “independent” inquiry. The US, under the guidance of Senator John McCain (R-AZ) has prevented a $23 million payment owed to Uzbekistan from being made. The usual financial extortion. In the meantime, President Karimov has been designated a dictator, and the neocons and the EU are arranging a coup to overthrow Karimov.

US District Judge Rosemary M. Collyer has for a second time stopped George and the neocons’ efforts to destroy the civil service system covering 160,000 employees at Fatherland Security.

Scandal again rocks Wall Street as the leading futures brokerage Refco, discovered the CEO Phillip Bennett owed the company $430 million, and that none of its accounting dating back to 2002 could be relied upon for their accuracy. Refco specializes in derivative brokerage services. An August underwriting by Credit Suisse First Boston, Goldman Sacks and Bank of America and its auditor Grant Thornton are in big financial trouble. Could this be the unforeseen event that will send markets into turmoil?

According to the Foundation for Taxpayer and Consumer Rights major oil companies have exported more than 90 million barrels of heating oil in the first half of 2005, an amount close to 50 times the volume of Northeast Heating Oil Reserve. Despite lack of capacity and increases in the cost of energy, major oil companies continue to export vital distillate fuels such as heating oil and gasoline. These shortages could be engineered to create rationing and people control in our nation.

HR3893, the Gasoline for America’s Security Act, has passed the House and is on its way to the Senate. It would preempt the historic rights of cities and towns to determine where facilities such as refineries can be located – more federal usurpation of our rights. If adapted, this bill would allow the federal government to put a refinery on any piece of federal land it wants or anywhere the oil industry thinks it will be profitable for them.

Lenders are still blacklisting black borrowers. Black Americans are three times as likely as whites to be signed up for high-coast sub-prime mortgages that often force borrowers into default. This is a serious matter and means redlining has not stopped.

Over the past two weeks gasoline prices have risen $0.10 a gallon to $2.91 nationwide for self-serve regular. In a special report from the Council on Foreign Relations, Prof. Menzie Chinn, a former senior economist for international financial issues on the White House’s Council of Economic Advisers under Presidents Clinton and G. W. Bush, argues that the federal budget and current account deficits, increasingly threaten US sovereignty and influence. “Failure to take the initiative to reduce the twin deficits will cede to foreign governments increasing influence over the nation’s fate.” “Perhaps equally alarming is it will lead to slower growth, escalating trade friction, and reduced American influence in political and economic spheres.” The report is entitled, “getting Serious About the Twin Deficits”, and it calls for urgent action on the serious challenges faced by the US economy, including reducing the fiscal deficit, increasing taxes, decreasing oil imports through the imposition of energy taxes or strict fuel efficiency standards; and managing a coordinated depreciation of the dollar vis-à-vis East Asian currencies. If that is accomplished it guarantees a bad recession. A deliberate dollar depreciation would have to be 40% versus Asian currencies. The Asians won’t do that. If they did agree, gold would go ballistic.

Our Army is so hard up for ground troops that they are deploying thousands of Air Force personnel to combat zones in new jobs as interrogators, prison sentries and gunners on supply trucks. They say the deployment is temporary, but we do not believe that. The military is struggling with 200,000 troops, including foreign troops and mercenaries. What they really need are 300,000 troopers.

Scott Ritter, a former US Marine and UN weapons inspector has compared British PM Tony Blair and George Bush to Nazi war criminals that started WWII. Their aggressive warfare in Iraq is similar to German actions in Europe 66 years ago. Both of these men could be pulled up as war criminals for engaging in actions that we condemned Germany for in 1946. Tony Blair and George W. Bush are guilty of the crime of planning and committing aggressive warfare.” He said, “The special relationship between Britain and the US left British honor as nothing more than a “disregarded mistress.”

He made these comments at Chatham House, the Royal Institute of International Affairs in London. He said intel from intelligence services was correct in stating Iraq’s missile program had been destroyed soon after the Gulf conflict in 1991. It was always the intention of the US to effect regime change. The origins of such a policy came from George H. W. Bush. He reported in 1992 Iraq had no missiles and his report was met with silence. He said get UK and US troops out of Iraq. “Iraq is a nation on fire – what feeds the fire is fuel, the presence of US and UK troops.”

We don’t know why Scott Ritter was asked to speak at Chatham House and we don’t know why this is significant. He has either been invited into the fold or he doesn’t understand what he is dealing with. The Royal Society is what the CFR was modeled on and Chatham House members are the Queens advisers and she is one of the top illuminists in the world. That Group knows far more about what is going on than Mr. Ritter because they plan it all. George Bush may be rogue, we don’t know, but we’ll soon find out.

The Local Law Enforcement Hate Crimes Prevention Act of 2005 establishes unity between federal and local law enforcement, thus creating the beginnings of a total police state. The ADL, the Anti-Deformation League, wants federal power to enforce its federal hate crimes agenda against Christians, talk show hosts, critics of Israel, pro-lifers and anti-war activists, etc. all over America. As journalists we are terrified of such a thought control law. That means we cannot report anything in that venue for fear of spending the rest of our lives in jail. That leaves all reporting open only to pro-Zionist interests. Once passed an Orwellian anti-hate bureaucracy and police state will follow. Anything deemed anti-democratic or hateful will be pursued real or imagined. We do not hate anyone. This is very harmful legislation.