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Date Sent: 2008-07-15
Freedom's Phoenix Headline News for Tuesday, July 15, 2008
 
Credit Fallout is Just Beginning - The Greatest Crime in History

After IndyMac, Who's Next? Downey Financial? - Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings - Getting Out of Iraq by U.S. Rep. Ron Paul, M.D. (R-TX) - How Many Bullets Does The Fed Have Left? - Homeland Security Pushing Really Insecure RealID Program - Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings - In Mexico, "hitmen" advertise on the web - IndyMac depositors line up for cash after seizure - Obama aims to send 10,000 more troops to Afghanistan
 

Understanding How Screwed We All Are - Feature Article  •  Economy - International
Understanding How Screwed We All Are - "The Greatest Depression" - by Ernest Hancock
Ernest Hancock
   (Originally posted July of 2008 - Some of these things have yet to pass - Listen to the first link to a very informative interview and be afraid... this whole thing has just started)
I'm starting to see the pattern in the tapestry. There is eno

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 FDIC chair: deposits in nation's banks are safe News Link  •  Economy - Economics USA
FDIC chair: deposits in nation's banks are safe
7-15-2008  •  AP 
The head of the Federal Deposit Insurance Corporation says the nation's banking system is sound and Americans' deposits in banks are "overwhelmingly" safe. [and we can seize them at any time...oh, you mean monetary deposits, well ..  Read Full Story
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Reported by: Powell Gammill
Arpaio harassing citizenry for yet another grandiose photo op News Link  •  Immigration
Arpaio harassing citizenry for yet another grandiose photo op
7-14-2008  •  East Valley Tribune 
The operation resulted in 14 arrests, Arpaio announced during a late-afternoon news conference. During sweeps, deputies use minor traffic offenses as probable cause to make stops and question vehicle occupants about their legal status.  Read Full Story
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Reported by: Powell Gammill
Getting Out of Iraq<br>by U.S. Rep. Ron Paul, M.D. (R-TX) Feature Article  •  WAR: About that War
Getting Out of Iraq
by U.S. Rep. Ron Paul, M.D. (R-TX)

Powell Gammill
   What will it take to get our troops out of Iraq? Those in power are reluctant to give conditions, but when they do and those conditions are met, the goal post is quietly moved.
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Opinion  •  Scott Horton Show at Antiwar Radio
Jon Eisenberg on the Scott Horton Show at Antiwar Radio
Mark Jokel
  
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Homeland Security Pushing Really Insecure RealID Program News Link  •  Homeland Security
Homeland Security Pushing Really Insecure RealID Program
07-14-2008  •  Papers Please 
This massive, centralized system would include personal data of 245 million license and ID cardholders nationwide. If a criminal could break just one state’s data security system, he would have access to the sensitive data retained by all 56 states a  Read Full Story
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Reported by: Terry Bressi
After IndyMac, Who's Next? Downey Financial? News Link  •  Federal Reserve
After IndyMac, Who's Next? Downey Financial?
7-14-08  •  cnbc.com 
He says as the Feds are busy worrying about “the big boys”"Fannie and Freddie"hundreds, maybe thousands, of smaller, regional banks will now realize they have no savior.  Read Full Story
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Strategic Edge: Intellectual Breakfast for the Businessperson's mind Feature Article  •  Events: Arizona
Strategic Edge: Intellectual Breakfast for the Businessperson's mind
Powell Gammill
   This Thursday, the Strategic Edge presents Pat Schwind: Defending the Statements of the Rev. Jeremiah Wright when Obama won't. Terrorist-Traitor or Real American Hero?
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How Many Bullets Does The Fed Have Left? News Link  •  Federal Reserve
How Many Bullets Does The Fed Have Left?
7-14-08  •  Michael Shedlock / Mish 
Is the Fed going to investigate Lehman? Paulson? Bernanke? Seriously, this is ridiculous. The financial institutions are getting hammered because they are undercapitalized by any rational measure. Earnings suck and are going to...  Read Full Story
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Reported by:
In Mexico, News Link  •  Drug War
In Mexico, "hitmen" advertise on the web.
7-13-2008  •  Reuters 
Mexico City police are investigating classified advertisements posted on the Internet by people offering their services as hired killers for as little as $6,000.  Read Full Story
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Reported by: Chip Saunders
Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings News Link  •  Economy - Economics USA
Citigroup's $1.1 Trillion of Mysterious Assets Shadows Earnings
7-14-2008  •  Bloomberg 
Nowhere mentioned in the accompanying 66-page handout were the additional $1.1 trillion of assets that New York-based Citigroup keeps off its books: trusts to sell mortgage-backed securities, financing vehicles to issue short-term debt and collateral  Read Full Story
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Reported by: Powell Gammill
US elections: Obama aims to send 10,000 more troops to Afghanistan News Link  •  WAR: About that War
US elections: Obama aims to send 10,000 more troops to Afghanistan
07-14-2008  •  www.guardian.co.uk 
Barack Obama today pledged to increase US troops in Afghanistan by a third if he becomes president, sending 10,000 more to reinforce the 33,000 already there.  Read Full Story
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Reported by: Ernest Hancock
IndyMac depositors line up for cash after seizure News Link  •  Economy - Economics USA
IndyMac depositors line up for cash after seizure
7-14-2008  •  Reuters 
"I didn't think anything like this would happen," said retired teacher Charles Tengeri from Pasadena, who was first to emerge from the branch after withdrawing $171,000 -- about two-thirds of his life savings. "I withdrew as much a  Read Full Story
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Reported by: Powell Gammill
Opinion  •  Gun Rights
Wherein our perpetually prepared pistolero pushes projectiles of punditry upon the populace
7-13-2008
Chip Saunders
   Instead of some heavy philosophy to kick off the introduction of this column, howabout some humor instead.
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Credit Fallout is Just Beginning - by Bill Fleckenstein News Link  •  Federal Reserve
Credit Fallout is Just Beginning - by Bill Fleckenstein
7-14-08  •  articles.moneycentral.msn.com 
I think we're in about the second inning." (That guess is not so dissimilar to that of a friend I call the "Lord of the Dark Matter," who says he doesn't know what inning it is but is sure it's going to be a double-header  Read Full Story
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Avoid Financials as Bank 'Fires' Continue, Laszlo Birinyi Says News Link  •  Economy - Economics USA
Avoid Financials as Bank 'Fires' Continue, Laszlo Birinyi Says
7-14-2008  •  Bloomberg 
Investors should avoid most financial companies because their shares will probably keep declining. "Stay away from these stocks....There's an awful lot of fires that need to be put out. I'm concerned about how we get them all out,'**  Read Full Story
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Reported by: Powell Gammill
WaMu Could See $26 billion in Losses News Link  •  Federal Reserve
WaMu Could See $26 billion in Losses
7-14-08  •  CalculatedRisk.blogspot.com 
Comments from Lehman Brothers that beleaguered thrift Washington Mutual Inc. could see $26 billion in total losses from items on its balance sheet and struggling National City Corp. being forced to assert it is still creditworthy only added to the an  Read Full Story
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Reported by:
Something Happening at WAMU This Minute! News Link  •  Federal Reserve
Something Happening at WAMU This Minute!
7-14-08  •  MrMortgage.ml-implode.com 
I noticed a line out of my local WAMU branch this morning. I then drove a few miles away and saw another branch with many people in line. I talked to someone there and they said the lines started before the bank opened and many people are sweeping th  Read Full Story
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Ron Paul reports USA about to commit Act of War against Iran News Link  •  Eugenics
Ron Paul reports USA about to commit Act of War against Iran
7-14-2008  •  Youtube 
Congressman Ron Paul reports on his fight with warmongers in Congress: House Congressional Resolution 362, which blockades Iran. All imports on petroleum will be blocked, and Iranians will be blocked from leaving the country. A blockade is an act of  Read Full Story
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Reported by: Powell Gammill
Phantom Shares - Emmy Award winning Bloomberg Movie Feature Article  •  Corruption
Phantom Shares - Emmy Award winning Bloomberg Movie
Ernest Hancock
   DOWNLOAD Phantom Shares.asf (36.05 MB MOVIE)
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Naked Short Selling Crisis Reference Link  •  Corruption
Naked Short Selling Crisis
SanityCheck.com 
   If you are new to the Market Reform Movement and the underlying issues of market manipulation and naked short selling
Entered by: Ernest Hancock
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The New Case Against Immigration: Both Legal and Illegal Opinion  •  Immigration
CONNECTING THE DOTS
The New Case Against Immigration: Both Legal and Illegal
7-14-2008
Frosty Wooldridge
   We cannot drill and grow, drill and grow, drill and grow! We cannot keep taking on 2.2 million legal and illegal immigrants annually and expect to remain a viable or sustainable nation. Got water in Arizona? No! Got water in California? No! But
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Jim Rogers: Freddie and Fannie Bailout News Link  •  Federal Reserve
Jim Rogers: Freddie and Fannie Bailout "Unmitigated Disaster"
7-14-08  •  Bloomberg.com 
``They're ruining what has been one of the greatest economies in the world,'' Rogers said. Bernanke and Paulson ``are bailing out their friends on Wall Street but there are 300 million Americans that are going to have to pay for this.'  Read Full Story
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Reported by:
Paulson Crosses Rubicon and Lands In 5th Dimension News Link  •  Federal Reserve
Paulson Crosses Rubicon and Lands In 5th Dimension
7-14-08  •  Michael Shedlock / Mish 
Paulson now seems to be acting on the principle that as long as one is telling lies there is no additional harm in doing it with gusto. Otherwise it is very hard to explain how an "unlimited lending line"can possibly have "terms and co  Read Full Story
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Illegal Immigration: The Joke of Deportation News Link  •  Immigration
Illegal Immigration: The Joke of Deportation
July 14, 2008  •  Mondoreb 
Two topics in one 10-minute video: The Joke of Deportation and Immigration vs. Illegal immigration: what’s the difference?  Read Full Story
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Reported by: Randy Ricochet
Nine US troops, dozens of rebels dead in Afghanistan News Link  •  WAR: About that War
Nine US troops, dozens of rebels dead in Afghanistan
07-14-2008  •  KABUL (AFP) 
Hundreds of militants stormed a remote military outpost in Afghanistan and briefly entered the base in a ferocious attack that left nine US soldiers dead, officials said Monday.  Read Full Story
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Reported by: Ernest Hancock
Private Space Stations in Orbit RIGHT NOW (over 10,000 orbits already) News Link  •  Space Travel and Exploration
Private Space Stations in Orbit RIGHT NOW (over 10,000 orbits already)
07-14-2008  •  bigelowaerospace.com 
Bigelow Aerospace is dedicated to developing next-generation crewed space complexes to revolutionize space commerce and open up the final frontier to all of humanity. At Bigelow Aerospace, we're building the future today! (MSM coverage?... WHY NO  Read Full Story
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Reported by: Ernest Hancock
Virgin Galactic SpaceShipTwo Animation News Link  •  Space Travel and Exploration
Virgin Galactic SpaceShipTwo Animation
07-14-2008  •  YouTube 
Read more at http://www.ohgizmo.com and http://www.virgingalactic.com (And how much of this have you heard from the MSM? Civilian Space travel is about to be as common as Extreme Travel Cruises,... and I mean soon, like within a year)  Read Full Story
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Reported by: Ernest Hancock
THE NEW SPACE RACE News Link  •  Space Travel and Exploration
THE NEW SPACE RACE
07-14-2008  •  Space.com 
A multimedia presentation that will help bring you up to speed...  Read Full Story
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Reported by: Ernest Hancock
Stripper arrested for subway pole dances News Link  •  Politics: General Activism
Stripper arrested for subway pole dances
07-14-2008  •  RawStory.com 
The professional pole dancer worked quickly all week to avoid arrest, getting on at one station, finding a subway car with no children on it and stripping in time to exit at the next station.  Read Full Story
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Reported by: Ernest Hancock
Jim Cramer: The Flip-Flop that Ought to be Illegal News Link  •  MEDIA (MainStreamMedia - aka MSM)
Jim Cramer: The Flip-Flop that Ought to be Illegal
07-14-2008  •  YouTube 
How can it be that Bear Stearns Hedge Fund guys are going to JAIL for their misdeeds, but, Jim Cramer gets away with THIS?  Read Full Story
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Reported by: Ernest Hancock
Amber Alert! Get Ready For War - by Justin Raimondo News Link  •  WAR: About that War
Amber Alert! Get Ready For War - by Justin Raimondo
7-14-08  •  Antiwar.com 
The Telegraph reports that Israeli Prime Minister Ehud Olmert recently told one of his closest friends that "in three months' time it will be a different Middle East." Yes, and also, perhaps, a very different America…  Read Full Story
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Treasury Acts to Save Mortgage Giants News Link  •  Economy - Economics USA
Treasury Acts to Save Mortgage Giants
7-14-2008  •  NY Times 
Officials briefed on the plan said Congress could be asked to extend the total line of credit to the institutions to $300 billion. The actions, which could provide an overwhelming surge of capital to the companies, were the 2nd time in 4 months  Read Full Story
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Reported by: Powell Gammill
US Treasury ready to put billions into bailout of America’s mortgage system News Link  •  Economy - Economics USA
US Treasury ready to put billions into bailout of America’s mortgage system
7-14-2008  •  London Times 
The two groups together account for more than half of America’s $12,000 billion of outstanding mortgages. A failure of Freddie and Fannie would drive up mortgage payments significantly as a crucial source of financing dried up and would have a domino  Read Full Story
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Reported by: Powell Gammill
Government as the Big Lender News Link  •  Economy - Economics USA
Government as the Big Lender
7-14-2008  •  NY Times 
Much of the private money that once surged into the mortgage industry has fled in a panicked horde, leaving most of the responsibility for financing American homes to the government-sponsored Fannie and Freddie. By the first three months of this year  Read Full Story
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Reported by: Powell Gammill
Oil Brings Americans Closer to OPEC Debtor Dependence News Link  •  Energy
Oil Brings Americans Closer to OPEC Debtor Dependence
7-14-08  •  Bloomberg.com 
Holdings of Treasuries by oil producers and institutions such as U.K. banks that are proxies for Middle East nations rose 44 percent this year to $510.8 billion through April, four times faster than the rest of the world...  Read Full Story
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Analysts Say More Banks (150) Will Fail Next Year News Link  •  Economy - Economics USA
Analysts Say More Banks (150) Will Fail Next Year
7-14-2008  •  NY Times 
But the troubles are growing so rapidly at some small and midsize banks that as many as 150 out of the 7,500 banks nationwide could fail over the next 12 to 18 months, analysts say. Other lenders are likely to shut branches or seek mergers.  Read Full Story
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Reported by: Powell Gammill
 US spells out Fannie-Freddie backstop plan News Link  •  Economy - Economics USA
US spells out Fannie-Freddie backstop plan
7-13-2008  •  AP 
The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival.  Read Full Story
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Reported by: Powell Gammill
DeepCapture.com takes on short sellers Reference Link  •  Economy - Economics USA
DeepCapture.com takes on short sellers
deepcapture.com 
   Website referenced by Bud Burrell in his Financial Sense Newshour interview. This site provides details of how and who participates in naked short selling to steal the market cap of targeted companies.
Entered by: Mike Dugger
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Operation News Link  •  Federal Reserve
Operation "Rescue Fannie" Underway - Paulson a Blatant Liar
7-13-08  •  Michael Shedlock / Mish 
"Operation Rescue Fannie" has now morphed into a taxpayer bailout of Bill Gross, China, and anyone else that levered into buying Fannie Mae garbage. It is a moral hazard to the highest degree, for bondholders to be made whole in this mess.  Read Full Story
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Afghan Warlords, Formerly CIA, Now Turn Their Guns On US Troops News Link  •  WAR: About that War
Afghan Warlords, Formerly CIA, Now Turn Their Guns On US Troops
7-13-2008  •  US News & World Report 
The war in Afghanistan reached a wrenching milestone this summer: For the second month in a row, U.S. and coalition troop deaths in the country surpassed casualties in Iraq. This is driven in large part,  Read Full Story
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Reported by: Powell Gammill
Clinton Diehards Want Convention Vote News Link  •  Eugenics
Clinton Diehards Want Convention Vote
Clinton supporters are clinging to the hope that if her name is placed in nomination and the roll call of the states is conducted, she might " might " still win. Is there a wooden stake big enough to put an end to Hillary's bloodsucking campaign?  Read Full Story
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Reported by: Mike Dugger
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