Is A Breakaway Civilization In Antarctica?

Read this entire discussion and view the videos before making a conclusion.
After Mass Deception and fraud is revealed, you may discover the world is not as you were taught to believe.
The sources of information and the various researchers may not agree with each other, or may not have a conclusion.
This is a open discussion and you are invited to research further and think for yourself.

Click below to continue…

ANTARCTIC Treaty System (ATS)

Wouldn’t a few requirements be needed for a breakaway civilization to move to Antarctica?
Such as:

• Covert Funds
• Advanced Technology
• Treaty or Restricted & Protected Region

Interestingly, the UNITED NATIONS and the international monetary system provides all of those requirements, although we can question if the motive and purpose is for a “Breakaway civilization”.

Yes indeed, the U.N. has it all and more!
The U.N. goes beyond what is required and treats the charted territories in the image (U.N. logo) above as 10 regional groups.

Imagine the known world divided into 10 manageable kingdoms, and an unknown region is restricted and protected.

Progress continues to be made on international cooperation in tax matters. There is important ongoing work in this area in several international forums, including the OECD, the G20 and the United Nations system. Some steps have been taken, for example, against base  erosion  and  profit-shifting,  and  towards  developing  a  widely  applicable  system  of automatic exchange of tax information between countries. In all areas of international tax cooperation,  it  will  be  critically  important  to  ensure  that  the  developing  world,  and  in particular the poorest countries, are able to participate in, and benefit from, new developments. Domestic resource mobilization will be central to raising resources to finance sustainable development. Measures which aim to support the developing world in mobilising more domestic resources for development, such as through capacity-building, are critically important and have high development paybacks.
Timely implementation of the 2010 IMF quota and governance reforms would have been an important first step towards bolstering the credibility, legitimacy and effectiveness of the institution.
Rapid adoption of the 2010 IMF reforms will pave the way for the next round of quota and voice reforms. Successful completion of further reforms will boost the coherence and stability of the global financial system. Additionally, United Nations Member States agreed in April 2010 that the next round of World Bank governance reforms in 2015  should  move  the  institution  towards  equitable  voting  power  and  protect  the  voting power of the smallest poor countries. Agreement should be reached on these reforms in a timely fashion.
It also is crucial to enhance international policy coordination and cooperation in the global efforts to promote sustainable development.
The United Nations Member States are formulating  an  ambitious  and  transformative  post-2015  development  agenda. –UNITED NATIONS (global economic outlook 2015)

Note this about the UNITED NATIONS:

• Antarctic Treaty System (designated a restricted and protected territory)
• Created a Division of Early Warning and Assessment
• identifying “Emerging Environmental Threats”
• Collaborates with Exchange Stabilization Fund (ESF), G20, Organisation for Economic Co-operation and Development (OECD), World Bank (WB), International Monetary Fund (IMF), and many other NGOs and government organizations.

Even without evidence of ill-will, these actions and secrecy hints to it.
Waring nations can not reach unanimous peaceful agreements in the known world but miraculously all of them can unanimously agree to peace and protection for a unknown and allegedly uninhabited region!
…¿

The inner circle is the arctic circle, but Antarctica is beyond the outer-circle, out there somewhere…

See The Deception

Title: FLAT EARTH CONSPIRACY EXPOSED! Rob Skiba Proves NASA Fakes Photos and Videos
Video re-uploaded 13 Jun 2015 by Josh Peck

Title: Flat Earth: THE ONLY PROOF YOU NEED – NASA HOAX
Video posted 1 Aug 2016 by Antarctic Warrior

Title: NASA SATELLITE LAUNCHED FROM BALLOON NOT ROCKET: BUSTED IN ANTARCTICA
Video edited and re-posted 15 Oct 2016 by James Munder
PLANET VERITAS VIDEO: NA KARA CHANNEL: THERE ARE NO SATELLITES IN SPACE! JUST BALLOONS ABOVE THE FLAT EARTH. HERE’S THE LINK:
Video – https://www.youtube.com/watch?v=vyeicJTp_ro

Some explorers and researchers have claimed fresh water lakes and green vegetation in Antarctica.
We need more recent evidence, but what is important is that the claims do exist:

Title: The Warm Freshwater Lakes of Antarctica
Video posted 29 Apr 2012 by ORION Our Race Is Our Nation

Title: Man Dies After FINDING The Flat Earth DOME Firmament in Antarctica (NO TRESPASSING) | FE Proof 5 pt3
Video posted 28 Nov 2016 by Feed Your Mind

Why are Billions allegedly spent exploring “space” when no independent exploration of Antarctica exists?

Are independent Antarctic explorers murdered?
Or, are these stories announced to the masses to discourage independent explorers?

Title: PROOF NASA x Antarctic Treaty EXIST to Hide Flat Earth’s DOME Firmament!! | FLAT EARTH PROOF 5 pt1
Video posted 18 Apr 2016 by Feed Your Mind

Title: Occult Science 1.1 – UN Space Connections & Theosophy
Video posted 2 Jan 2017 by schism206

 

Title: Antarctica Mysteries Are Growing ✅
Video posted 4 Jan 2017 by Alien Secret

*Now obviously suspicions that the globalization system has secrets and deception within it, are based on the evidence that contradicts the official public statements.
Unsolved mysteries invites speculation, but more individuals each day are doubting the official stories.
“The World Is Not What You Were Taught“.
§

Missing MONEY!

When investigating or researching crimes and mysteries, the advice is to “follow the money“.

Title: Secret Space Program 2015 Conference in 3 minutes
Video posted 26 Oct 2015 by SECRETSPACEPROGRAM

I dismiss claims of space travel and the “Standard” cosmological model of the universe, however evidence and observations reveal that spending from many science research projects have a secret component, as in black budgets and covert funding operations.
One possibility for the massive funds could be for developing underground and under ocean tunnels, transportation for habitats, food production, advanced technology in Antarctica.
Other worlds may remain science fiction, and the “aliens” may be terrestrials from a breakaway civilization or the mythological watchers, giants, angels and demons.
Keep searching for the truth, because the governments are deceiving the world.

Title: Richard Dolan: A Breakaway Civilization
Video posted 8 Feb 2011 by Richard Dolan

Catherine Austin Fitts shares documents about approximately $12 Trillion missing (or stolen) U.S. funds over the decades in what she calls:

The Financial Coup d’État & Missing Money: Links

(Click Here to Enlarge the Image)

“A global financial cabal engineered a fraudulent housing and debt bubble, illegally shifted vast amounts of capital out of the US; and used ‘privatization’ as a form of piracy – a pretext to move government assets to private investors at below-market prices and then shift private liabilities back to government at no cost to the private liability holder Clearly, there was a global financial coup d’etat underway.” ~Catherine Austin Fitts

By Catherine Austin Fitts

We have had several requests to provide links for summaries of what I refer to as the “missing money.”

Financial Coup d’État

This was a commentary I wrote during the bailouts to help put what was happening in a global context. We also published several compilations of the bailouts, including Bailout Mo’ Money

2013 Annual Wrap Up: Chronology of the Black Budget and Financial Coup d’État

I put together a timeline in the 2013 Annual Wrap Up published in January 2014 to show an overall timeline and numbers to help our subscribers understand the numbers I used in various estimates.

Solari: The Missing Money

I started writing about the missing money in 2000 when my attorney discovered reports of enormous amounts of undocumentable adjustments at the Department of Housing and Urban Development. This was a webpage the Solari team used through 2004 to collect stories about money going missing from DOD, HUD and NASA.

WhereistheMoney.org

This was a website and petition we did in 2003-4 to try to raise awareness.

More recently, I have mentioned money missing from DOD during Fiscal 2015, see Crazy Man Versus Criminal: Cut and Run, Monica Lweinsky II & Real Trouble Ahead

These refer to the DOD IG report on the FY2015 DOD Financials which is summarized here.

In response to your requests, I will dig in and take a closer look at the 2o15 DOD report and post comments here.
§

 

Trillions of dollars are missing from the US government. What’s going on? Where is the money? How could this happen? Where are the checks and balances? How much more has gone missing? What would happen if a corporation failed to pass an audit like this? Or a taxpayer? Who is responsible for this? Would your banks continue to handle your bank account if you behaved like this? Would your investors continue to buy your securities if you behaved like this? Learn more in the articles below.

CBS News coverage of Donald Rumsfeld’s Pentagon speech on September 10, 2001
Watch the YouTube Video

 

 

 

 

CSPAN coverage of Donald Rumsfeld’s congressional testimony
Watch the YouTube Video

 

 

 

 

Articles on Catherine Austin Fitts’ Blog:

Billions over Baghdad
by Donald L. Barlett and James B. Steele – Vanity Fair
September 2007

Those Who Blow Whistle on Contractor Fraud in Iraq Face Penalties
Deborah Hastings – AP
August 2007

Key Documents

U.S. Department of Defense Web Site

“The technology revolution has transformed organizations across the private sector, but not ours, not fully, not yet. We are, as they say, tangled in our anchor chain. Our financial systems are decades old. According to some estimates, we cannot track $2.3 trillion in transactions. We cannot share information from floor to floor in this building because it’s stored on dozens of technological systems that are inaccessible or incompatible.”
– Remarks as Delivered by Secretary of Defense Donald H. Rumsfeld, The Pentagon, Monday, September 10, 2001

Independent Audit Report – Department of Defense
Re: $1.1 Trillion Missing from DOD
February 26, 2002

Testimony of the Inspector General – Department of Housing & Urban Development
Re: $59 Billion Missing from HUD
March 22, 2000

Discrepancies in America’s Accounts Hide a Black Hole
By Daniel Gros, Financial Times
June 15, 2006

Road to Ruin
by Eric Sprott, Sprott Asset Management
Regarding the $11 Trillion Deficit in the US Government in FY 2004
January 2005

U.S.’ Missing $Trillions Make Mainstream At Last
Scoop Media’s version of the Chronicle Story with more links added
May 26, 2003

Dillon, Read & Co. Inc. and the Aristocracy of Stock Profits
by Catherine Austin Fitts
A case study of two teams each with competing visions for America.
April 2006

Estimate $3.3 Trillion Missing From U.S. Treasury
by Buddy Grizzard
An excellent overview integrating coverage by key investigative journalists
August 2002

Where is the Collateral? and So, Where is the Collateral?
A two-part series by Chris Sanders of Sanders Research Associates in London
These articles connect the dots between the missing money, the Where is the Money? litigation, questionable HUD deals, and the impact on the investment community
October 2003 and July 2004

U.S. “Could Be Going Bankrupt”
by Edmund Conway, Economics Editor
UK Telegraph
July 2006

whereisthemoney.org
Web site documenting the missing money — includes petition, FAQs, Who’s Who … also available in Spanish

Independent News Coverage

The Great “Incompetency” Heist
by Catherine Austin Fitts, Scoop Media
May 17, 2006

US Government “Misplaces” Trillions of Dollars
Anxiety Culture Bulletin News
September 3, 2003

US’ Missing Trillions Make Mainstream At Last
Scoop Media
May 26, 2003

The Solari Solution: A Responsible Way to Fund America’s State and Local Government Deficits
Scoop Media
May 2003

On the Money Trail
MetroActive
September 5, 2002

Questions for a Congressman
Scoop Media
July 4, 2002

The Myth of the Rule of Law
Sanders Research Associates
November 2001

Testimony of the HUD Inspector General
House Government Reform
May 2000

Corporate News Coverage

Auditor Quits with NASA Finances in Chaos
By Arindam Nag and Deborah Zabarenko
May 15, 2004

The War on Waste
CBS News
Citing “cooked books” at DoD, Rumsfeld on the missing $2.3 trillion, …
January 29, 2002

Military Stashes Covert Millions
St. Petersburg Times
September 28, 2003

‘High Risk’ Finance at the Federal Level
Insight on the News
August 21, 2003

Congressman Kucinich on NPR’s ‘Morning Edition’
NPR, June 28, 2003

Pentagon Fights for (Its) Freedom
CBS News
May 19, 2003

Color Codes: The Deja Vu View Back to Abnormal
San Francisco Chronicle
May 25, 2003

So Much for the Peace Dividend
The Guardian
May 22, 2003

Military waste under fire $1 trillion missing
San Francisco Chronicle
May 18, 2003

HUD’s Financial Woes Continue
Insight, April 18, 2003

HBO The Sopranos: “Watching Too Much Television” (Scamming the Feds)
Sopranos Episode 46
Brian lays out a way to use bogus real estate deals to con money out of the Federal Department of Housing and Urban Development…
November 1, 2002

US Treasury Web Site Reveals $ Half-Trillion Deficit
NY Post
May 14, 2002

Government Fails Fiscal Fitness Test
Insight on the News
April 29, 2002

From Insight Magazine’s investigative journalist Kelly O’Meara

Treasury Checks and Unbalances
April 14, 2004
The 2003 financial statements mark the seventh year in a row that the federal government could not audit, let alone balance, its books…

Is the US Going for Broke?
July 14, 2003

‘High Risk’ Finance at the Federal Level August 21, 2003
The US Government reports that its financial management systems are seriously unreliable…

HUD’s Financial Woes Continue
April 18, 2003

Government Fails Fiscal Fitness Test
April 29, 2002
This article cites both the $1.1 Trillion and the $59 Billion…

All That Glitters Is Not Gold
March 2002

What Does It Take to Lose a Contract?
March 2002

Cuomo leaves HUD in Shambles
March 2001

Inside HUD’s Financial Fiasco
June 2001

A Financial Fiasco is in the Making
July 2001

Rumsfeld Inherits Financial Mess
September 2001

Total Lack of Trust
September 2001

Wasted Riches
October 2001

Bureaucrats Circle Their Wagons
December 2001

Why is $59 Billion Missing from HUD?
November 2000

Government Links

U.S. Code:

• The Chief Officers Act of 1990
• HUD Reform Act of 1989
• Government Management Reform Act of 1994

Executive Branch:

 

• Department of Treasury
• Department of Treasury — Internal Revenue Service
• HUD Office of Inspector General
• DOD Office of Inspector General

DOD News Articles:

• Reforming Financial Management System Can Save Big
  American Forces Press, Department of Defense, April 3, 2002
• Remarks as Delivered by Secretary of Defense Donald H. Rumsfeld
  The Pentagon, September 10, 2001
• Zakheim Seeks To Corral, Reconcile ‘Lost’ Spending
  American Forces Press, Department of Defense, February 20, 2002
• Testimony before the House Budget Committee on the FY 2002 Defense Budget
  As Given by Deputy Secretary of Defense Paul Wolfowitz and Comptroller Dov Zakheim, Cannon House Office Building, American Forces Press, Department of Defense, July 11, 2001

Congress:

• House Committee on Government Reform,
  Government Management, Finance & Accountability SubcommitteeWikipedia on House Committee on Government Reform
• Senate Committee on Homeland Security & Governmental Affairs
  
• Senate Government Affairs Thompson Report
  — Government at the Brink, Vol. 1
  — Government at the Brink, Vol. 2
  
• House Appropriations
• Senate Appropriations
• Congressional Audit, Evaluation and Investigation:
  General Accountability Office (GAO)

Case Examples of Missing Money

Where is the Money? Litigation
Ervin & Associates and the US Government shut down Hamilton Securities after it developed software for citizens to learn about HUD spending by place, seized the software, bankrupted the company, and never produced any evidence of wrongdoing … see http://www.dunwalke.com/gideon/

CPA IG Finds Halliburton Mismanaged Government Property in Iraq
Committee on Government Reform: Minority Office, July 2004

Tennessee’s Get Our Money Back Campaign — 2002
Includes: The Story of the Missing Money; A State by State Breakdown of What the Missing Money is Costing You and Your Family; Questions to Congressman Van Hilleary (R-Tenn.) on Actions a Congressman Could Take to Get Our Money Back

Government Contractors

1. Lockheed Martin

Software That Steals: Mortgage Market Unanswered Questions – Hitting On HUD August 2002

2. AMS

Federal Lawsuit Adds to AMS Woes Company Also Faces Trouble in Ohio, Vermont
Washington Technology
July 2001

A Taxing Dilemma by John Berlau
Insight Magazine
April 2001

IRS Boss Snagged a Clinton Waiver by John Berlau
Insight Magazine
May 2001

News Alert: Eizenstat Explains Why He Gave Waiver to IRS Commissioner by John Berlau
Insight Magazine
May 2001

How Can Rossotti Reform the IRS?
Insight Magazine
May 2001

News Alert: Grassley Questions Rossotti’s Ties to AMS by John Berlau
Insight Magazine
May 2001

Rossotti Hires Raise Red Flags
Insight Magazine
September 20001

3. DynCorp

CSC DynCorp & the Economics of Lawlessness
Scoop Media
April 2003

4. Harvard

The Harvard Datadump — An Update

5. Enron

The Real Deal about Enron — An Interview with Catherine Austin Fitts by Daniel Armstrong
Scoop Media
February 2003

6. The Carlyle Group

Carlyle’s Way — Making a mint inside “the iron triangle” of defense, government and industry by Dan Briody
Red Herring
January 8, 2002

Missing Money in Iraq

Iraq Audit Can’t Find Billions
Boston Globe, October 2004

US Probes $100 Million Missing in Iraq
MSNBC, May 2005

So, Mr. Bremer, Where Did All the Money Go?
The Guardian, July 2005

Billions Wasted in Iraq
CBS News, February 2006

Iraq’s Missing Billions (video)
Journeyman Pictures, March 2006

Halliburton Watch: US Mismanaged $8.8 Billion in Iraqi Funds, August 2004

Iraq Revenue Watch: Reports & Briefings
Open Society Institute, December 2004

The Not So Strange Case of Phillip Merrill
Joe Quinn, Signs of the Times, June 2006

Balancing Our Bank Book: The Missing $9 Billion and More (Windows Media Audio; PDF Transcript )
Rep. Cynthia McKinney, June 2006

Those Who Blow Whistle on Contractor Fraud in Iraq Face Penalties
Deborah Hastings, Associated Press, August 2007

A ‘Fraud’ Bigger Than Madoff
Patrick Cockburn, The Independent, February 2009
Missing Gold

Gold Anti-Trust Action (GATA)
http://www.gata.org

LeMetropole Cafe
http://www.lemetropolecafe.com

All That Glitters Is Not Gold by Kelly O’Meara, March 2002

Is a Silver Scandal on the Horizon? by Kelly O’Meara, March 2004
Quotations

From Kelly O’Meara ~ Treasury Checks and Unbalances April 2004

Robert E. Rubin, 1997, Unauditable
“We believe that the publication of these audited statements is an important step in providing American citizens with more information about the operations of their government.”

Robert E. Rubin, 1998, Unauditable
“We believe that the publication of this financial report is an important step in providing the AMerican public with useful information about their government’s assets, liabilities and operations.”

Lawrence H. Summers, 1999, Unauditable
“We are committed to producing and reporting financial information that meets the highest standards of integrity and to provide to the American people the accountability and professionalism they expect from their government.”

Paul H. O’Neill, 2000, Unauditable
“I am committed to producing and reporting financial information that meets the highest standards of integrity and to provide the American people the accountability and professionalism that they expect from the government.”

Paul H. O’Neill, 2001, Unauditable
“I believe that the American people deserve the highest standards of accountability and professionalism from their government, and I will not rest until we achieve them.”

John W. Snow, 2002, Unauditable
“I intend to continue the commitment to producing and reporting financial information that meets the highest standards of integrity and to provide the American people the accountability and professionalism that they expect from their government.”

§

We thought we would dig out the data to update Bloomberg’s calculation of November 2008 that totaled the bank bailouts at $8.5 trillion.

Here is our list of additional commitments:

I. $750 Billion for Bank Bailout

There is reportedly $750B in the President’s 2010 FY budget for “the banks.”  An MSNBC article on 2/26/08 [http://www.msnbc.msn.com/id/29415050/] quotes Treasury Secretary Geithner as saying this is merely a “placeholder” in case of further deterioration of the economy and indicates the purpose of such funds would be further purchases of troubled assets.  CBO scoring of this budget item results in a net expenditure estimate of $250B (meaning that, based upon the quality of assets purchased in the TARP program so far, the government would recover $.78 for every asset purchase dollar).  OMB’s recovery estimate is a more conservative $.66 for each purchase dollar.  Of course, this is not a final number until appropriated by Congress, and many changes will be made to the budget before it is final.

II. $787 Billion for the Stimulus Package, adopted by Congress as part of the American Recovery and Relief Act of 2009.

III. $1 Trillion for the Financial Stability Plan:

• $500B has been deposited into a Stability Trust.
• $500B – $1 Trillion is set for later deposit into a Public/Private Investment Fund.

The government’s fact sheet does not make clear whether the whole amount is public investment, however, as some press reports would seem to imply.  Treasury Secretary Geithner’s speech as reported in the Washington Post seems to indicate that $1T is the total available to lend, so that amount would also include the private money being “leveraged.”  This interpretation would be consistent with the $500B figure reported by the New York Times as the amount of the bailout related to the Public/Private Investment Fund.

IV. TALF – funded from TARP

On March 3, 2009, Treasury and the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Fund (“TALF”) “designed to catalyze the securitization markets by providing financing to investors to support their purchases of certain AAA-rated asset-backed securities” as a “component” of the Consumer and Business Lending Initiative (“CBLI”), which is established under the Emergency Economic Stabilization Act of 2008.  This seems to indicate the government component of this facility would be funded with TARP funds.  The Treasury press release states that the Federal Reserve Bank of New York will lend up to $200B to eligible owners of AAA asset-backed securities secured by auto, student, credit cared and SBA-guaranteed small business loans. CBLI guidelines provide that the government’s investment comes in the form of a Treasury investment in special purpose vehicles of Federal Reserve banks (like TALF). Notably, it also states that TALF was formed “to purchase collateral that borrowers from the SPV may forfeit” and that Treasury will share in the gains and losses of the SPV.

V. Exchange Stabilization Fund – Fed liabilities for money market fund losses – potential $46 – $50 Billion reduction in bail-out costs as reported by Bloomberg

According to the U.S. Treasury website, the $50B facility at Exchange Stabilization Fund to cover potential losses at money market funds only lasts (as extended) until April 30, 2009 unless the facility is extended again.   Statements on the site seem to anticipate that Treasury probably will not extend it.   Assuming there are no additional money market fund claims for losses, $46B would be SUBTRACTED from the Bloomberg list after April 30, 2009. [NOTE: The Bloomberg chart shows $50B under Treasury programs, Treasury Exchange Stabilization Fund with the description “buys and sells short-term notes to moderate fluctuations of foreign securities” and a $540B commitment ($0 tapped) by the Fed described as “buys financial assets from financial companies to bolster money-market mutual funds.”  Recall earlier that the bailout chart offered by the New York Times in early February shows that Treasury spent $4B to cover losses on the liquidation of the Reserve US Government Fund.  If the NYT account is accurate, ESF and not the Fed took this loss.]

VI. $2.274 Trillion Fed overnight lending facility

According to the New York Times, the Fed’s overnight lending was expanded to $2.4T.   The Bloomberg chart seems to be counting $128B in that category — $10B under “overnight loans” and $118M under “secondary credit.

VII. $50 Billion More for Citigroup

On Friday, February 27, the government announced a conversion of $25B of Citigroup preferred stock into common stock, resulting in a 38% government stake in Citigroup.  Reportedly, there is no additional cash infusion, but, according to the Option ARMageddon site:

“The move is an acknowledgment that more than $50 billion in government capital and a backstop on more than $300 billion in troubled Citigroup assets haven’t been enough to stop the bank’s slide.”

VIII.   $ 50 Billion Additional AIG bailout [see: Federal Reserve Press Release]

The AIG bailout (originally, all in the form of an $85B line of credit for an 80% stake in the company) grew, but by how much is not clear.  The Bloomberg chart indicates that $123B was committed by the Fed and $87B was actually taken down [all other sources refer to an $85B line of credit, so Bloomberg either knows something no one else does, or this is a mistake].

On March 3, CNN’s online site reported as follows:

“The U.S. government’s role as a savior to AIG began in September, with a two- year, $85 billion credit line. Since then, it has grown; currently, the government is offering up to $173.3 billion in assistance.”

This $173.3B appears to include the original $85B.

The Wall Street Journal [http://online.wsj.com/article/SB123599072033008283.html] reports the following sequence of events [March 3]:

“The bailout of AIG has gotten bigger, and taxpayers have taken on more risk:

• Sept. 16: The government extends AIG a two-year loan of up to $85 billion, and gets a 79.9% stake in return.
• Oct. 8: Bailout loans increase to nearly $123 billion due to problems in AIG’s securities-lending program.
• Nov. 9: The rescue package increases to $150 billion, including a new $40 billion federal investment.
• March 1: The government makes $30 billion in TARP money available and cuts the loans to up to $25 billion.”

It is not clear what the “$40B federal investment” is. The Fed’s website says that the government exchanged its $40B cumulative preferred shares in AIG for new preferred shares that more closely resemble common equity, so it is likely there is no “new” $40B investment.  The reduction of the “government” loans to $25B is actually a reduction of the $60B revolving credit facility put up by the Federal Reserve Bank of New York, not the government, so, essentially, the government’s commitment of TARP funds reduces the obligation of FRBNY.  The Fed website [http://www.federalreserve.gov/newsevents/press/other/20090302a.htm] discloses that FRBNY holds a lien on a substantial portion of AIG assets as well as preferred stock in two new entities formed to hold all of the stock of two life insurance holding company subsidiaries of AIG (valued at $26B).  The lien position means that the FRBNY has a superior position to that of Treasury as equity holder.

A third update on Bloomberg on March 3 reports:

“AIG is getting as much as $30 billion in new government capital and relaxed terms on its bailout announced yesterday.”

In a March 2 article, Reuters reports that the government’s exposure following the new bailout terms is $163B. On March 8, the International Herald Tribune, apparently using Reuters as a source, pegs the exposure at $160B. Other headlines in the first week of March report that Senate leaders grilled regulators about the “$180B AIG Bailout”.

Note: Bloomberg originally reported that the initial line of credit was backed by Treasury, but no other reports on the increased commitments mention a Treasury back-up.  One thing is clear: the blurring of the distinctions between the interests of the “government” and of the FRBNY in the press and the failure of the press to give accurate, complete and critical accounts of the AIG bailout terms, including the superior position of FRBNY to that of Treasury, has left the taxpayers largely in the dark.

IX. $470 Billion Proposed increase in authority of FDIC to borrow from Treasury:

On March 3, Senator Dodd introduced a bill to expand FDIC’s line of credit with Treasury from $30B to $500B until the end of 2010.  End-of-2008 reserves at FDIC were only $19B.  The new borrowing authority would be limited to $100B unless consent of FDIC, Treasury Secretary Geithner, the Federal Reserve Board and the White House have been obtained.

*        *        *        *

Update:
Tracking the $700 Billion Bailout
The New York Times (02 March 09)
§

 

Year Events 2.0 3.0 The Black Budget Grows: 1934-95 1934 Gold Reserve Act creates Exchange Stabilization Fund, receiving booty seized during and after WWII. Explosive growth in US Treasury debt finances significant military and intelligence budgetsThe US intelligence agencies working with telecoms and IT companies build a global surveillance machinery, as described repeatedly in movies such as Enemy of the State, The Listening and The End of Violence. Private corporations assume control of the most powerful, secret technology in the world, funded with government money. The financial resources provided are in the trillions.Black technologies are reengineered to create new digital technologies leading to explosive growth and wealth creation in the high tech corridors such as those around San Francisco, Boston and Denver. 1947 National Security Act 1949 CIA Act – With ’47 Act creates mechanisms for US appropriations to be diverted to a “black budget.” 1980 By Executive Order, private corporations can manage secret, highly classified projects as government contractors. 1982 Memorandum of Understanding between CIA and DOJ exempts the majority of CIA personnel and contractors from reporting narcotics trafficking to DOJ. 1980’s Iran Contra financial fraud and narcotics trafficking (Mena, Arkansas, Los Angeles, California) explodes; S&L and HUD mortgage scandals and subsequent 1989-93 bailouts. Financial Coup d’ Etat: 1995-2006 1994 The North American Trade Agreement comes into force. G-7 leads the “rebalancing” of the global economy, which ultimately leads to the creation of the G-20 US government and corporate media suppress stories re: government drug running operations at Mena, Arkansas and in Los Angeles US government targets Hamilton Securities, stealing their digital infrastructure, including Community Wizard, making a housing bubble possible Issuance of fraudulent mortgage securities and probably Treasury bonds and related derivatives explode. Working with US and European intelligence agencies, private corporations use invasive digital surveillance systems and covert operations to build out a global network of investments interests in companies and assets globally. The private intelligence systems and capacity continue to grow. Financial deposits and assets in the offshore tax havens explode. 1995 Uruguay Round of GATT is adopted, creating the WTO As “strong dollar policy” and a housing bubble take hold, significant capital is moved legally and illegally from North America into the emerging markets as highly organized operations engineer international policies and financing to cause companies and assets to be acquired, often at bargain basement prices.See: Financial Coup d’Etat Missing Money & Telecom-Tech Pump and Dump: 1996-2005 Fiscal 1998-2003 $4 trillion goes missing from US accounts. See: The Missing Money Significant liabilities remain on government balance sheets – insurance and credit programs, retirement and health care programs and other treaty and legal obligations.A Congressional investigation reports that a majority of US federal agencies are not in compliance with financial management laws. The US government defies laws requiring audited financial statements. 9/11 destroys significant documentation relating to ONI, SEC & FBI investigations into missing money and financial fraud used to finance the financial coup d’état. Destruction includes the headquarters of the largest US treasury dealer. US government operations and accounting and payments systems are by now completely dependent on private companies to run their operations. Corporate asset and valuations steadily increase, although the stock market drops significantly with the crash of the tech bubble.Wall Street enjoys record profits and bonuses. Private investors and endowments continue to amass control of larger and larger pools of private capital. 1998-2000 Significant venture capital moves into Internet companies, bubbling the stock market, shifting enormous capital to those engineering the bubble and shifting Silicon Valley focus from decentralized value creation to facilitating central control. The IPO market shifts significant capital to players behind the bubble. September 10, 2001 Secretary of Defense Donald Rumsfeld admits at press conference that the Pentagon had $2.3 trillion of “undocumentable adjustments” in its financial accounts the prior year. Bailouts, QE1, QE2, QE3: 2006-2013 Bailouts refinance up to an estimated $27 trillion of fraudulent securities and derivatives, nationalizing Fannie and Freddie and using up the FHA reserves. Governmental liabilities explode. This includes insurance and credit programs, along with health care and retirement obligations.Household expenses and unemployment continue to rise, while household income falls. Tensions over criminal liabilities related to financing the financial coup d’état are high, making reinvestment on scale problematic. Thanks to popular support of a new President, politicians manage to reappoint coup leaders to run the new Administration and to transfer trillions to refinance fraudulent securities that financed the coup without ever requiring that anyone of significance be fired or prosecuted.Wall Street and corporate bonuses continue to be relatively high despite being financed with taxpayer dollars. QE 1, 2 and 3 provide significant additional refinancing of fraudulent mortgage (and possibly Treasury) securities. European governments provide significant bailouts to European banks. The President of the United States delegates to the National Security Advisor the ability to waive SEC regulations that applies to the reporting and disclosure of corporate finances in the interests of National Security. Fiscal Cliff, Healthcare Act, Fed Tapering: 2009-2013 2009, 2010 Congress passes landmark health care legislation, dubbed Obamacare. Governmental liabilities explode. This includes insurance and credit programs, as well as health care and retirement obligations at federal, state and local government.Structural unemployment remains high. Upon observing government liabilities and the diminution of the middle class, many financial observers predict the demise of the US dollar or a global financial collapse. Obamacare provides unprecedented control over the economy and access to private data and further squeezes middle-income families. An estimated four million Americans lose their health care policies. American Airlines engineers a bankruptcy to abrogate retirement obligations. Detroit bankruptcy is upheld by the courts threatening pension funds and health care for municipal workers. G-7 announces that it is targeting off shore tax havens, after the US forces Switzerland to surrender banking privacy and submit to US jurisdiction and regulation for institutions accepting American deposits. Proposals to delay retirement ages under Social Security and require small businesses to create mandatory 401k plans grow. The Obama Administration announces a privatization policy for the US Space Program. With the statue of limitation passed on most financial fraud and fraudulent securities extinguished, the pools of capital shifted into 3.0 during the financial coup d’état grow secure.Significant technology is shifted from black projects into the high-tech centers for corporate development. Numerous high-tech billionaires invest in and build space companies. Wealth and income of the richest Americans continue to grow. The Shadow Banking system continues to grow. 2012 US grapples with “the fiscal cliff,” including a government shutdown and debt limit challenges. See: Coming Clean Beyond the Fiscal Cliff The Federal Reserve balance sheet balloons at the Federal Reserve bond purchase grow to an amount equal to approximately 85% of US government debt issuance. 2012 Congress passes the Jobs Act, designed to ease capital raising for start-ups and early venture. 2013 Fed announces that it will start tapering QE in 2014 The Breakaway Civilization: 2014 With the majority of potential corporate and personal liabilities extinguished, the “breakaway civilization” is free to reinvest in the broad commercialization and application of technology developed in the black budget programs.Governmental surveillance systems are privatized as the NSA dark fiber partners in social media, search engines, computing and telecoms grow in power and market valuations. The G-20 proceeds with balkanization of the Internet and Satellite systems in an attempt to protect themselves from Friendly Fascism 3.0.

Disclaimer: Nothing on The Solari Report should be taken as individual investment advice. Anyone seeking investment advice for his or her personal financial situation is advised to seek out a qualified advisor or advisors and provide as much information as possible to the advisor in order that such advisor can take into account all relevant circumstances, objectives, and risks before rendering an opinion as to the appropriate investment strategy. View Terms and Conditions

© Solari, 2014

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