TV News LIES

Much was made of al-Qaeda’s training camps in Afghanistan, the target of American bombers. But these were kindergartens compared with the world’s leading university of terrorism at Fort Benning in Georgia. Known until recently as the School of the Americas, it trained some 60,000 Latin American soldiers, policemen, paramilitaries and intelligence agents. Forty per cent of the Cabinet ministers who served in the genocidal regimes of Lucas Garcia, Rios Montt and Mejia Victores in Guatemala are graduates.

Reversing its oft-repeated position that it was acting only on behalf of its clients in its exotic dealings with the American International Group, Goldman Sachs now says that it also used its own money to make secret wagers against the U.S. housing market.

A senior Goldman executive disclosed the "bilateral" wagers on subprime mortgages in an interview with McClatchy, marking the first time that the Wall Street titan has conceded that its dealings with troubled insurer AIG went far beyond acting as an "intermediary" responding to its clients' demands.

But it’s not just American taxpayers who have been looted to save the crumbling facade of the Euro single currency. British taxpayers will be forced to underwrite an estimated £10 billion pounds of the bailout as part of the IMF package.

The major media say the chaos on Wall Street was the result of a “trader error, possibly a typo,” as the Washington Post put it. Some reports claim the culprit was a “fat finger” on a computer somewhere that pressed the wrong key. But Zubi Diamond, author of the Wizards of Wall Street, says these claims are all lies. “What happened in the market on Thursday is a typical example of pure market manipulation” by unregulated hedge fund short sellers.

In December 2006, Goldman Sachs embarked on a frantic effort to shed billions of dollars in risky mortgage securities and purchase exotic insurance to protect itself against what it had concluded could be the collapse of America's housing market.

Yet for nine months, until Sept. 20, 2007, the Wall Street giant didn't disclose its actions in key filings with the Securities and Exchange Commission, in telephone conferences with analysts or in its press releases.

Fed Chairman Ben Bernanke admitted the central bank created $1.3 trillion out of thin air to buy mortgage backed securities.  This shocking admission came from the Joint Economic Committee hearing on Capital Hill last week.  I was dumbfounded when I saw Bernanke shake his head in the affirmative as Representative Ron Paul said, “Well, where did you get the money? You created this money. So you did monetize debt, and that went into the banking system.”  I was amazed he admitted this.  I looked up the original hearing on C-Span to make sure the clip was not edited.  It was not.