"The chief of London through America's reign,
the Isle of Scotland will thaw out by frost:
Roy Reb will face an Antichrist so false,
That he will place them in the conflict altogether."
L'isle d'Escosse t'empiera par gelée:
Roy Rebauront vn si faux Antechrist,
Que les mettra trestous dans la meslée."
May 14, 2010: new British Prime Minister David Cameron is joined by new Scottish Secretary Danny Alexander on the steps of St Andrew's House in Edinburgh, Scotland, with First Minister Alex Salmond and Finance Minister John Swinney
Interesting times. The early days of May 2010 have brought about a collection of world events in the lead up to the Cardinal inclination transits just a month away.
Global transits continue to show we are entering a new, and historic age in my mundane perspective.
In the same week, the Euro fell against the dollar, gold rose, there are federal investigations into silver futures manipulation; along with probes into mortgage-backed derivatives, investment banks, and hedge funds, as European leaders scramble to the rescue of their threatened monetary union by wolf speculators wearing business suits.
At least this week.
With the current global transits, this week, through all of May and into the summer months, I am hoping for peace in Greece. However, reading the world transits, I know better. There's a lot going on right now in Greece, and elsewhere, and I expect numerous reports leading up to fears that Greece is at a revolutionary stage, which I think it nearly became last week.
It is known by economists that Greece's economic recovery will be much rockier and more painful than anyone anticipated. The expected decline in growth rates with steep rises in unemployment forced by severe austerity could easily choke the country.
This assessment comes just before the first installment of "bailout money" to Greece. The IMF helped draw up the bailout agreement - under a Mercury retrograde - where three years of emergency loans of up to €110 billion Euros will be disbursed to Greece until the year 2013.
Nearly everyone knows that there is no way the Greek people will be able to turn their economy around as quickly as the so-called "reformists" or rather, as Max Keiser calls them, the "financial terrorists," says Greece can.
There are a couple of things that could easily go wrong with the 3-year austerity plan. For one, the entire Greek nation could go bankrupt again if any of the reforms to magically rocket their economy into great heights doesn't happen right now. Is that what it looks like now?
Greece is a nation of the sun. Like all nations of the Mediterranean they are a laid-back people. To impose on them, say, the northerner work ethic of downtown London, a New York, or even Chicago for that matter, isn't right.
The Greek people are hard workers, and go at their own pace. You cannot force on a people those things that are not inherent in their culture. I don't care how much money you have. Or think you have.
Greece gave the West what we call "western civilization." I say, call off their debt, and get the money back from those Hedge-fund CDO and HFT creeps at Morgan Chase & Goldman, etc., etc.
The success of the Greek agreement "hinges on deep and comprehensive structural reforms," said a report drafted by an International Monetary Fund delegation that visited Athens on a two-week fact-finding mission before the austerity/bailout deal was reached.
"Without such reforms, Greece would not restore competitiveness or growth, and real incomes will remain stagnant and unemployment high and the debt burden would eventually prove unsustainable," the report concluded.
This report is a doosy. I'm still trying to understand just how they came to their findings...
While praising Prime Minister George Papandreou's six-month-old government for its bold fiscal policies, this "assessment" did question his administration's ability to enforce what it called "draconian" austerity measures in return for the loans.
There was, the assessment said, "an undeniably high" danger the austerity program could become unstuck if the ruling socialists gave in to widespread public hostility over the €30bn spending cuts and tax hikes.
As a result of the cost-cutting measures foreseen in the rescue package, the IMF predicted that recession would deepen, with Athens' debt-to-GDP ratio reaching 176% in the "worst-case scenario."
Under these world transits, and this is the worst time for this to happen, then this cycle will mean that more money will have to be poured into Greece's banking sector to prevent a collapse, which means that Greece's public debt goes higher. It increases the damage.
Greek unions have called a new general strike next week (May 16-22) to protest planned austerity measures agreed between George Papendreou's government, the International Monetary Fund, and European Union last week. All under a Mercury retrograde.
The two Greek main public & private sector groups confirmed in a joint statement that the walkout was set for May 20. This is a day after Greece must repay about €9 billion Euros in expiring debt ~ using international rescue loans, of course.
The strike is expected to shut down all flights, ferries and rail services. It will also close down schools, hospitals, and public services.
Greek unions say low earning workers will suffer greatly from the proposed increase in retirement ages and pension cuts.
For instance, Ireland.
Reports say at least five protesters received minor head injuries as a result of clashes, according to organizers. One officer also sustained an injury to his face.
Mary Smith said she received a blow to the head when she and others attempted to gain access to the front concourse of Leinster House through the gate. “We tried to get into the Dáil to make our point as forcefully as we could,” she said.
“We all arrived at the gate at the same time. The police locked arms. There was a push. People behind me, I was kind of jammed [in] there. The policeman in front of me looked me in the eye and reached over and deliberately hit me as hard as he could." She said she sustained a cut to the top of her head which was quite bloody.
A contingency security plan was put in place as soon as an attempt was made by a section of the crowd to storm the front gates. The gates were shut closed as was the front door to the Leinster House.
Richard Boyd Barrett of People Before Profit Alliance said he wanted the march to be the first step in a campaign against Government policies which he said had caused the economic crisis.
Barrett said it was unjust to put billions into bailing out the people and institutions which caused the crisis while imposing cuts on those who had no responsibility.
He described Government policy as as “the economics of the madhouse.”
Another demonstration is scheduled to take place next May 17-18. A Dublin police spokesman declined to say if security at Leinster House would be increased in advance. "Garda Síochána [Irish police] constantly monitor security arrangements at sites such as Leinster House. "It would be inappropriate for us to comment any further for operational reasons," he said.
Ireland is one of the EU nations under pressure to provide bailouts when the country itself is flirting with 22-percent (or more, depending who you talk to) unemployment and no credit. Irish banks are up to their necks in red ink from bad mortgage deals and CDOs.
And so does Iceland.
Icelanders rejected an IMF bailout and choose to hunt down the bankers that bankrupted their country
Here is a country that rejected a forced bailout by referendum, that is, a straight vote, yes, or no, and rejected it just last winter. Now, today, Icelanders are hunting down the bankers who they say robbed their entire nation.
Bankers jailed, sued as Iceland seeks Culprits for Crisis
REYKJAVIK — "More than a year and a half after Iceland's major banks failed, all but sinking the country's economy, police have begun rounding up a number of top bankers while other former executives and owners face a two-billion-dollar lawsuit.
Since Iceland's three largest banks -- Kaupthing, Landsbanki and Glitnir -- collapsed in late 2008, their former executives and owners have largely been living untroubled lives abroad.
But the publication last month of a parliamentary inquiry into the island nation's profound financial and economic crisis signaled a turning of the tide, laying much of the blame for the downfall on the former bank heads who had taken "inappropriate loans from the banks" they worked for.
On Wednesday, the administrators of Glitnir's liquidation announced they had filed a two-billion-dollar (1.6-billion-euro) lawsuit in a New York court against former large shareholders and executives for alleged fraud.
"I think this lawsuit is without precedence in Iceland," Steinunn Gudbjartsdottir, who chairs Glitnir's so-called winding-up board, told reporters in Reykjavik.
"It is about higher figures than we have ever seen," she said, adding that she expected Glitnir to file more lawsuits going forward, but that "it is unlikely any will be this big."
Glitnir said it was suing "Jon Asgeir Johannesson, formerly its principal shareholder, Larus Welding, previously Glitnir's chief executive, Thorstein Jonsson, its former chairman and other former directors, shareholders and third parties associates with Johannesson for fraudulently and unlawfully draining more than two billion dollars out of the bank."
The bank also said it was "taking action against its former auditors PricewaterhouseCoopers (PwC) for facilitating and helping to conceal the fraudulent transactions engineered by Johannesson and his associates, which ultimately led to the bank's collapse in October 2008."
Glitnir's suit, filed in the New York state Supreme Court on May 11, blamed most of the bank's woes on "Johannesson and his co-conspirators," who had "conspired to systematically loot Glitnir Bank in order to prop up their own failing companies."
Johannesson, the former owner of the now-defunct Baugur investment group with stakes in a number of British high street stores including Hamleys, Debenhams and House of Fraser, said he was shocked by the lawsuit.
"The distortions and the nonsense in the lawsuit are incredible," he told the Pressan news website.
Glitnir's administrators "can get a 10-year-prison sentence for misusing US courts in this manner," he insisted.
The bank's chief administrator Gudbjartsdottir took his comments in stride.
"I didn't expect him to be happy with the lawsuit," she said.
In addition to its New York suit, Glitnir said it had "secured a freezing order from the High Court in London against Jon Asgeir Johannesson's worldwide assets, including two apartments in Manhattan's exclusive Gramercy Park neighbourhood for which he paid approximately 25 million dollars."
Gudbjartsdottir said Johannesson had just 48 hours to come up with a satisfactory list of his assets. "If he does not give the right information he faces a jail sentence," she said.
Four former Kaupthing executives, who all live in Luxembourg, have been arrested in Iceland in the past week and Interpol has issued an international arrest warrant for that bank's ex-chairman, Sigurdur Einarsson.
Former head of the bank's domestic operations, Ingolfur Helgason, and former chief risk officer Steingrimur Karason were arrested late on May 10th on arrival from Luxembourg, just days after former Kaupthing boss Hreidar Mar Sigurdsson, along with Magnus Gudmunsson, who headed the bank's unit in Luxembourg, were taken into custody.
The 49-year-old Einarsson, pictured to the left, lives in London and said May 11th he had no plans to travel to Iceland to be arrested. "I'm absolutely flabbergasted about the latest news," he told the Frettabladid daily.
"There is in my opinion no need for the arrests or custody rulings, and I will not of my own free will take part in the play that it appears is being staged to soothe the Icelandic people," he said.
'"I'll put the human rights I enjoy here in Britain to the test and will not therefore come home (to Iceland) to these conditions without being forced,' Einarsson added."
The United States
I continue to forecast that this is just the beginning, and that those who caused the global economic crisis have got nowhere to run. Nowhere to hide. People notice double-digit unemployment, rigged markets, and they notice when tens of billions of dollars go missing too.
Why don't you guys ever listen to professional astrologers?
When you start pissing off nine-year old boys who say you are doing the opposite of what Robin Hood did ~ then you know its time to get out of Dodge.
A new 54-minute documentary on the economic crisis called "Meltup" can be seen here.
"Frankenstein," in our sense of the word (term, etc., etc.) are those hedge fund maestros and investment bank types who packaged God knows how many zillions of corrupted CDOs and sold them on the open market with AAA ratings (thanks Moodys; keep up the great work...) ~ knowing they would fail?
Then made sure it was all insured by AIG, and then they bet against all of it?
How's that for screwing all your customers.
Plus, the entire country. Why not two countries? No, how about three? Why, let's go for whole continents while we're at it.
Wow, thanks a lot. You're a good monster Frankenstein. Here's a gold & silver cookie. Screw me again why don't you?
People said "enough is enough" and stopped fearing the monster. Frankenstein feared them. That summed up the whole movie for me right there.
Those torches at the end, the crowds, and Franky running scared out of his wits, grumbling to himself, "hgggh, hgggh," being chased uphill, by, well, everybody. They all had torches in their hands, and they wanted a piece of Frankenstein.
I ran into a friend. "Hey, how's Humpty Dumpty?"
"Humpty Dumpty? Man, that's whack. They'll never put him back together again. That's old news. You want something fresh homey?
Go around the corner. Don't you hear all those people? They ripping Frankenstein a new one! Check that out. Later dude. I'm back to Athens! Word."
Think about it. That's about how Frankenstein ended.
We all can make the future for the better and change it with our thoughts, and good actions. Just think daily that all the bad guys' acts & secrets will just keep flooding out until everything is made right again. And the kids can play safe again. See if it works.
I'm hoping things will get better, but, we've got to do our parts like good little tough Americans and tough humanity. I always learned to trust our instincts, and it ticks me off when people like to take advantage of our good natures and better sides.
Other than that, just watch who you associate with your hedge-fund tyrants and carpetbaggers. The planetary inclinations just ahead, via the Cardinal T-Square and other combined transits, will prove in the end, that the best policy is always honesty. That is best. I learned that in childhood.
What kind of era that will be depends on humanity. But a lot of these guys are pissing off tens of millions of people. So, I ask: Do you want Bruce Banner?
Or, do you want the Hulk?
Which one do you want?
There's a lot of anger out there, and with the cardinal t-square transits I strongly suggest people calm down, and pace themselves. Speaking out is as American as it gets, and a Philadelphian is no stranger to freedom of expression as a God-given American right.
Even my own neighborhood is pissed off about Wall Street & Hedge Fund Speculator cycle banking "Gangs" breaking our balls... i.e., our jobs, homes, schools, banks, state and local pensions, college accounts, and even down to summer jobs for teenagers. Parents can't take their kids to the doctors, and are living hand to mouth. Middle-class families too. You guys are going to piss on these people? Are you out of your mind? I think you are...
So, as the Cardinal transits near, take it easy, pace yourself, don't rush, nor act to haste, impulse, and snap judgments, but gradually allow of hidden things about the economic crisis to emerge, and to come together, and then take it from there.
My view, as always, is as a mundane astrologer. Times are changing.
And, there sure are a lot of pissed off kids and adults of all ages out there.
You know, I think Disneyland ain't on their minds this year. What do you think?
American crowds gather and protest outside of JP Morgan Chase headquarters in New York
I'm betting yes. I've been aware of these approaching world transits for some years, and events are coming out as expected. I would have preferred much less of the drama, and of the corruption and massive levels of greed. But what do I know? I'm just an astrologer.
Oh boy, here's another big one. So we've got intrigue on Wall Street. Lots of it. The web has been flooded with all manner of angry accusations, excellent economic charts, along with various spectrum of predictions of gloom and doom.
Now, while things are bad enough, I continue to say that until the bad guys are taken out of the equation ~ the markets, then the patient, the average American, and the people of the world, will continue to suffer, and, as a result, will want to make the people who make them suffer ~ suffer.
It's the American way. the Greeks certainly know what's up. Look at the Irish, Icelanders, and the Spaniards are not going to take kindly either, much less people in New York, who are really getting upset now ~ right down to nine-year old boys.
After the mysterious 1,000-point Dow Jones drop on May 6th, 2010, markets were none the wiser about what really occurred that day.
I keep reminding that there are very good people in American government who are looking into it. More on that below...
We cannot lump the "government" as one entity per se; especially in the United States. The people are the government, and they get paid to perform their duties.
In this case, thank the stars, we are seeing some positive motion as there are now numerous reports of major federal investigations into the behind-the-scenes maneuvering of giants Goldman Sachs, and JP Morgan Chase, among other, continues.
Did you say $200 million?
Yes. That's right.
JP Morgan Chase & Co., Deutsche Bank AG, UBS AG and Citigroup Inc. have received civil subpoenas from the SEC on May 13.
It is known that New York Attorney General Andrew Cuomo has been investigating Goldman Sachs Group Inc., Morgan Stanley, UBS AG, Citigroup Inc., Credit Suisse, Deutsche Bank, Credit Agricole and Merrill Lynch, now part of Bank of America Corp.
U.S. Securities and Exchange Commission Chair Mary Schapiro said the agency’s enforcement unit has issued subpoenas in an investigation of last week’s stock plunge.
The division is “fully integrated in our review of the events of May 6th and will recommend appropriate action,” if violations are found, Schapiro told a House Financial Services subcommittee May 12. “A number of subpoenas” have already been sent, she said.
HFT allows a program trader to peek into major incoming orders and then jump in front of them with the express purpose to skim profits off the top. Large institutional orders, like those of pension funds, mutual funds, and supplementary accounts like 401Ks are most prone.
Karl Denninger, and the folks at Zerohedge made sense of all this HFT. But, when I figured it out, these algorithms they used to trade high-frequency.
As the [personal] inventor of the continuous double-action, market-making technology (VST tech. US pat. no. 5950176) that is referenced 132 times by program trading and HFT patents since 1996, I can tell you that Goldman, JP Morgan and the "gang" simply pulled the "buys" from their computer trading programs and manufactured a crash.
And when the coast was clear, and it was clear the politicians were not going to vote for anything that would break up the "too big to fail" banks; all the "sells" were pulled from the computers and the market roared back.
This is a Manchurian Candidate market where program trading bots start the ball rolling in whatever direction Wall Street wants the market to go ~ and then hundreds of thousands of day traders watching Cramer on CNBC jump on the momentum bandwagon and commit the crime for the Wall St. financial terrorists, who then say, 'It wasn't us, it was 'the market!'"
Keiser maintains computerized front running with HFT has become the principal business of Wall Street and the primary force driving most of the volume on exchanges. He says this contributes not just to the great majority of trading profits, but to the manipulation of markets for wholly selfish economic and political ends.
Meanwhile, New York Attorney General Andrew Ciomo has launched a series of probes and investigations into eight banks so far to determine whether they misled ratings agencies about mortgage securities, according to a confidential source.
Cuomo says his people are trying to figure out if banks provided agencies with false information to get better ratings on the risky securities, according to the source who spoke only on condition of anonymity.
The investigation has not yet been made public, however world transits show that they are surely going on, and have been ongoing for some time. You couldn't make this stuff up. When I was a kid they would say that "truth is stranger than fiction."
The recent 1,000-point NYSE "blip" on May 6th has angered tens of thousands of traders and millions of investors. People want to know just what is really going on in the markets, and many want heads.
During the boom years of residential and commercial loans, Wall Street's investment banks packaged pools of risky subprime mortgages together. The securities were given top-notch ratings and investors bought them, in part, because of their high rating.
These ratings are approved by Standard & Poor's; Moody's Investors Service and Fitch Ratings ~ market guides for investors to judge how risky investments might be.
According to Zerohedge.com what is called High-Frequency Trading is dominated by Goldman Sachs, who Zerohedge calls "a hedge fund in all but FDIC backing."
An investment bank until the Bank Crisis of 2007-08, Goldman Sachs became a bank holding company, or a commercial bank in a blink of an eye and was then immediately able to capitalize on federal bailout benefits in autumn 2008.
This included what amounted to interest free money from the Federal Reserve which some experts say Goldman Sachs has used to then speculate on "opaque ATS" exchanges where stock markets are then controlled and manipulated.
ATS trades 24 hours a day, not like the New York Stock Exchange open from 10 am to 4 pm five days a week. So, when ATS is able to trade around the clock - they tend to be very busy when the NYSE is closed which happens to also be the very best time to manipulate when stocks are thinly traded.
""[A]s the market keeps going up day in and day out, regardless of the deteriorating economic conditions," Zerohedge says, "It is just these HFT's that determine the overall market direction, usually without fundamental or technical reason.
HFTs are merely perpetuating the same ponzi market mythology last seen in the Madoff case ~ but on a massively larger scale."
Can't anybody count these days?
The initiatives, if approved by national governments, would represent the most significant advance in euro zone economic governance since the euro’s launch in 1999.
Among the most important proposals is the idea national governments should assess each others' annual budgets in greater detail and much earlier than is now the case.
While they would not have the power to force a country to rewrite its budget, they would be able to exert pressure to make the budget’s assumptions about economic growth, inflation and interest rates as realistic as possible.
The European Union’s fiscal rulebook, known as the Stability & Growth Pact, would be tightened so that more emphasis was placed on the need for governments to cut public debt.
For example, any country with a debt of about 100% of gross domestic product would be told to keep its annual budget deficit not just below 3 per cent of GDP, but so far below that it produced a steady reduction in the debt level.
The BBC reported that 24 out of 29 economists expect the rate to rise in the new parliament. Most of those questioned predicted the tax would increase from its current 17.5% to 20% before the end of 2011.
The details of the new mechanism remain to be worked out; but Rehn said it would be “a last-resort mechanism of financial assistance in the form of loans, with interest rates that would be so unattractive that no one would want to use it voluntarily.”
Spain's own stagnating local and federal rules and regulations continue to choke economic activity among their own citizens. Is Spain dying a slow economic death?
Pension rises will be shelved. The country’s €2,500 baby bonus was canceled. Economic aid to the regions will be slashed and infrastructure projects will be put on the shelf. The premier's own monthly pay will fall 15% to €6,515.
Then, commission president Jose Barroso unveiled plans for European Union (EU) control over national budgets, including what some feel is a "incendiary demand" that Brussels should vet budgets before their first readings in Westminster, the Bundestag, and other European parliaments.
Such a plan would seem to improve the workings of the EMU system, but some experts feel it would also entail a drastic erosion of the sovereignty of Euro zone nations. What economists call "intrusive surveillance" is a wake-up call for states that have tended to view the Euro as a free lunch.
Meanwhile, U.S. President Barack Obama was said to have played a key role behind the scenes last weekend, pleading with Mr. Zapatero for "resolute action."
If alternative action by the people of nations takes place ~ keen on justice and truth, and getting down to the bottom of what's happened ~ then there is a chance to forestall much of the coming "austerity"~ which is like saying a Great Depression ~ but time is running short.
The current economic climate is one of excited concerns over what economists call a "deflationary bias" across the EU similar to the "Gold Bloc" of the decade of the 1930s.
"The Political Earthquake in the Rose Garden"
All I can say to all of what Parrish wrote above is ~
May the Immortal God Help Us All.
Let's remember our hedge fund & investment bank "friends," shall we?
And, let's remember Part II.
Then, to Part III.
So, let's never forget to...
Stay Philadelphian, American & Human tough. That's what I'm doing.