Thursday, September 17, 2009

Two Questions

Question One: Since Twenty billion dollars of Bernie Madoff's sixty-five billion dollar Ponzi scheme fraud are in Israeli banks why don't we cut off all economic and military aid plus all loans to Israel until the money is paid back to the American taxpayers?

We taxpayers have been asked to pay 23.7 trillion dollars to Bailout Goldman Sachs and friends. The Israelis got their twenty billion dollars before the US currency began to drop like a rock so the Madoff money they already have in their banks is far more valuable than the money we are borrowing from China today. Currently we have to borrow 46 cents of every dollar we spend.

The second question is related to the Bernie Madoff fraud which was reported to the SEC seven years ago by Harry Markopolos. Mr Madoff was too well politically connected to be seriously investigated by the SEC. Page Six of the New York Post told us that Harry Markopolos spoke at a church related function in the Hamptons on Long Island where he said we were facing a far worse disaster than the Madoff scandal in 600 trillion dollars in derivatives many of which were fraudulent.

As I have explained before, banks cannot buy or sell worthless securities. To evade the law, they sold Credit Default Swaps (CDS) with bonds created from worthless mortgages. A Credit Default Swap is a hybrid between insurance and a derivative. Derivatives are bets on the future value of either a commodity like oil or of a bond. A CDS is like insurance in that it requires payments in order to maintain coverage. Previously, I have asked why the U.S. Senate and the House of Representatives why they did not cancel all CDS sales and allow the existing contracts to expire. That was before we made payments totaling 180 billion dollars in Bailouts to AIG for CDS.

Question Two is addressed to all members of the U.S. Senate and House of Representatives: why have you not asked Harry Markopolos to testify about the possible loss of 600 trillion dollars to American investors, savers, taxpayers and pension funds?

I have a new blog. My latest lead story is: Barry Chamish Says Israel Killed JFK Jr. Later tonight I will post my new lead story for Friday's edition: FED Gave Citibank 230 Billion Dollars


Anonymous Anonymous said...

Excellent questions, Daniel....has any Congressmen been contacted about this?? The Treasury Department? or is our government going to sit on their hands and let Israel keep that money too?

There are people in dire straits because their money is sitting in Israeli banks. Even a 1/3 return would help.

12:15 PM  
Blogger Daniel F said...

People are angry because no matter what concerns us the House and the Senate will not listen.

It is actually illegal for the US to give foreign aid to any nation we believe to be nuclear that has not signed the Nuclear Non-Proliferation Treaty and has refused to allow inspections. Ehud Olmert has publicly admitted that Israel has nuclear weapons so aid should have already been terminated.

The dollar is collapsing and as I have said before when the dollar crashes we will have our last chance to take back America.

In my other blog on 9-17's edition I said that Vanunu told us that Israel killed JFK because he was opposed to Israel having nuclear weapons.

10:05 AM  

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