Former Congressman James Traficant who was released from Prison several months ago and has a growing nationwide following, has recently stated that he is interested in returning to Congress. While Traficant served as a democrat he is a true independent and has challenged his own party's agenda in congress. Traficant has not yet stated which political party he will run under. His conviction would not bar him from running for congress, however Congress could vote to refuse to seat him. Traficant has stated that he will officially announce his intentions within a month. He is considering the 6th, 16th, and 17th Congressional District in Ohio, most of which are competitive democrat held seats. Many are also urging him to run for president in 2012.
Much like Congressman and former presidential candidate Ron Paul, Traficant is seen by many as a leader of a growing America First, Populist movement that taps into the sentiment of many Americans who are fed up with both major political parties and the power elite. Traficant has expressed a lot of the same concerns as Congressman Ron Paul such as the loss of national sovereignty and constitutional rights. In Congress Traficant was a strong critic of the IRS, Federal Reserve, Wall Street, NAFTA, Free Trade with China, and illegal immigration. Traficant calls for the abolition of the Federal Reserve which he views as a tool of international bankers to control our economy. He sponsored legislation that protects citizens from the IRS unjustly confiscating their property.
Traficant says that as a congressman he was “the number one target of the American Israel Public Affairs Committee.” This will make a run for public office an uphill battle since the Lobby generously funds the opponents of those who stand in their way. In his article on American Free Press, ”Powerful Israel Lobby Has Death Grip On U.S. Politics, Elections, Policies”, Traficant states that “Israel has a stranglehold on American government, commerce and the media,” and "has involved us in foreign wars to aid Israel expansion, bankrupts our great nation and has our kids shipped back to us in body bags.”
While he was one of the few elected officials to speak out on the Israeli Lobby, he does not single out Israel but is deeply concerned about our government being controlled by foreign and globalist interest who have no loyalty to this country. He has also addressed the dangers of of our trade policies and deficit that gives China great power over our Nation. He takes an unorthodox stance on the war on terror that has not been addressed by both political parties, blaming terrorism on both our immigration policy and interventionism in the middle east.
Monday, December 28, 2009
Flight 253 passenger: Sharp-dressed man aided terror suspect Umar Farouk Abdul Mutallab onto plane without passport (MLive.com exclusive)
Flight 253 passenger: Sharp-dressed man aided terror suspect Umar Farouk Abdul Mutallab onto plane without passport (MLive.com exclusive)
By Sheena Harrison | MLive.com
December 26, 2009, 2:22PM
Kurt HaskellKurt Haskell's boarding pass for NWA Flight 253Update: Dutch police investigating report of accomplice in Northwest Flight 235 terror plot
A Michigan man who was aboard Northwest Airlines Flight 253 says he witnessed Umar Farouk Abdul Mutallab trying to board the plane in Amsterdam without a passport.
Kurt Haskell of Newport, Mich., who posted an earlier comment about his experience, talked exclusively with MLive.com and confirmed he was on the flight by sending a picture of his boarding pass. He and his wife, Lori, were returning from a safari in Uganda when they boarded the NWA flight on Friday.
Kurt HaskellLori and Kurt HaskellHaskell said he and his wife were sitting on the ground near their boarding gate in Amsterdam, which is when they saw Mutallab approach the gate with an unidentified man.
Kurt and Lori Haskell are attorneys with Haskell Law Firm in Taylor. Their expertise includes bankruptcy, family law and estate planning.
While Mutallab was poorly dressed, his friend was dressed in an expensive suit, Haskell said. He says the suited man asked ticket agents whether Mutallab could board without a passport. “The guy said, 'He's from Sudan and we do this all the time.'”
Mutallab is Nigerian. Haskell believes the man may have been trying to garner sympathy for Mutallab's lack of documents by portraying him as a Sudanese refugee.
The ticket agent referred Mutallab and his companion to her manager down the hall, and Haskell didn't see Mutallab again until after he allegedly tried to detonate an explosive on the plane.
Haskell said the flight was mostly unremarkable. That was until he heard a flight attendant say she smelled smoke, just after the pilot announced the plane would land in Detroit in 10 minutes. Haskell got out of his seat to view the brewing commotion.
“I stood up and walked a couple feet ahead to get a closer look, and that's when I saw the flames,” said Haskell, who sat about seven rows behind Mutallab. “It started to spread pretty quickly. It went up the wall, all the way to ceiling.”
Haskell, who described Mutallab as a diminutive man who looks like a teenager, said about 30 seconds passed between the first mention of smoke and when Mutallab was subdued by fellow passengers.
“He didn't fight back at all. This wasn't a big skirmish,” Haskell said. “A couple guys jumped on him and hauled him away.”
The ordeal has Haskell and his wife a little shaken. Flight attendants were screaming during the fire and the pilot sounded notably nervous when bringing the plane in for a landing, he said.
“Immediately, the pilot came on and said two words: emergency landing,” Haskell said. “And that was it. The plane sped up instead of slowing down. You could tell he floored it.”
As Mutallab was being led out of the plane in handcuffs, Haskell said he realized that was the same man he saw trying to board the plane in Amsterdam.
Passengers had to wait about 20 minutes before they were allowed to exit the plane. Haskell said he and other passengers waited about six hours to be interviewed by the FBI.
About an hour after landing, Haskell said he saw another man being taken into custody. But a spokeswoman from the FBI in Detroit said Mutallab was the only person taken into custody.
Update: Dutch police investigating report of accomplice in Northwest Flight 235 terror plot
By Sheena Harrison | MLive.com
December 26, 2009, 2:22PM
Kurt HaskellKurt Haskell's boarding pass for NWA Flight 253Update: Dutch police investigating report of accomplice in Northwest Flight 235 terror plot
A Michigan man who was aboard Northwest Airlines Flight 253 says he witnessed Umar Farouk Abdul Mutallab trying to board the plane in Amsterdam without a passport.
Kurt Haskell of Newport, Mich., who posted an earlier comment about his experience, talked exclusively with MLive.com and confirmed he was on the flight by sending a picture of his boarding pass. He and his wife, Lori, were returning from a safari in Uganda when they boarded the NWA flight on Friday.
Kurt HaskellLori and Kurt HaskellHaskell said he and his wife were sitting on the ground near their boarding gate in Amsterdam, which is when they saw Mutallab approach the gate with an unidentified man.
Kurt and Lori Haskell are attorneys with Haskell Law Firm in Taylor. Their expertise includes bankruptcy, family law and estate planning.
While Mutallab was poorly dressed, his friend was dressed in an expensive suit, Haskell said. He says the suited man asked ticket agents whether Mutallab could board without a passport. “The guy said, 'He's from Sudan and we do this all the time.'”
Mutallab is Nigerian. Haskell believes the man may have been trying to garner sympathy for Mutallab's lack of documents by portraying him as a Sudanese refugee.
The ticket agent referred Mutallab and his companion to her manager down the hall, and Haskell didn't see Mutallab again until after he allegedly tried to detonate an explosive on the plane.
Haskell said the flight was mostly unremarkable. That was until he heard a flight attendant say she smelled smoke, just after the pilot announced the plane would land in Detroit in 10 minutes. Haskell got out of his seat to view the brewing commotion.
“I stood up and walked a couple feet ahead to get a closer look, and that's when I saw the flames,” said Haskell, who sat about seven rows behind Mutallab. “It started to spread pretty quickly. It went up the wall, all the way to ceiling.”
Haskell, who described Mutallab as a diminutive man who looks like a teenager, said about 30 seconds passed between the first mention of smoke and when Mutallab was subdued by fellow passengers.
“He didn't fight back at all. This wasn't a big skirmish,” Haskell said. “A couple guys jumped on him and hauled him away.”
The ordeal has Haskell and his wife a little shaken. Flight attendants were screaming during the fire and the pilot sounded notably nervous when bringing the plane in for a landing, he said.
“Immediately, the pilot came on and said two words: emergency landing,” Haskell said. “And that was it. The plane sped up instead of slowing down. You could tell he floored it.”
As Mutallab was being led out of the plane in handcuffs, Haskell said he realized that was the same man he saw trying to board the plane in Amsterdam.
Passengers had to wait about 20 minutes before they were allowed to exit the plane. Haskell said he and other passengers waited about six hours to be interviewed by the FBI.
About an hour after landing, Haskell said he saw another man being taken into custody. But a spokeswoman from the FBI in Detroit said Mutallab was the only person taken into custody.
Update: Dutch police investigating report of accomplice in Northwest Flight 235 terror plot
Tuesday, December 8, 2009
Copenhagen's Hidden Agenda: The Multibillion Trade in Carbon Derivatives
Copenhagen's Hidden Agenda: The Multibillion Trade in Carbon Derivatives
Architect of Credit Default Swaps behind the Development of "Carbon Derivatives"
by Washington's Blog
As I have previously shown, speculative derivatives (especially credit default swaps) are a primary cause of the economic crisis.
And I have pointed out that (1) the giant banks will make a killing on carbon trading, (2) while the leading scientist crusading against global warming says it won't work, and (3) there is a very high probability of massive fraud and insider trading in the carbon trading markets.
Now, Bloomberg notes that the carbon trading scheme will be centered around derivatives:
The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.
[Blythe] Masters says banks must be allowed to lead the way if a mandatory carbon-trading system is going to help save the planet at the lowest possible cost. And derivatives related to carbon must be part of the mix, she says. Derivatives are securities whose value is derived from the value of an underlying commodity -- in this case, CO2 and other greenhouse gases...
Who is Blythe Masters?
She is the JP Morgan employee who invented credit default swaps, and is now heading JPM's carbon trading efforts. As Bloomberg notes (this and all remaining quotes are from the above-linked Bloomberg article):
Masters, 40, oversees the New York bank’s environmental businesses as the firm’s global head of commodities...
As a young London banker in the early 1990s, Masters was part of JPMorgan’s team developing ideas for transferring risk to third parties. She went on to manage credit risk for JPMorgan’s investment bank.
Among the credit derivatives that grew from the bank’s early efforts was the credit-default swap.
Some in congress are fighting against carbon derivatives:
“People are going to be cutting up carbon futures, and we’ll be in trouble,” says Maria Cantwell, a Democratic senator from Washington state. “You can’t stay ahead of the next tool they’re going to create.”
Cantwell, 51, proposed in November that U.S. state governments be given the right to ban unregulated financial products. “The derivatives market has done so much damage to our economy and is nothing more than a very-high-stakes casino -- except that casinos have to abide by regulations,” she wrote in a press release...
However, Congress may cave in to industry pressure to let carbon derivatives trade over-the-counter:
The House cap-and-trade bill bans OTC derivatives, requiring that all carbon trading be done on exchanges...The bankers say such a ban would be a mistake...The banks and companies may get their way on carbon derivatives in separate legislation now being worked out in Congress...
Financial experts are also opposed to cap and trade:
Even George Soros, the billionaire hedge fund operator, says money managers would find ways to manipulate cap-and-trade markets. “The system can be gamed,” Soros, 79, remarked at a London School of Economics seminar in July. “That’s why financial types like me like it -- because there are financial opportunities”...
Hedge fund manager Michael Masters, founder of Masters Capital Management LLC, based in St. Croix, U.S. Virgin Islands [and unrelated to Blythe Masters] says speculators will end up controlling U.S. carbon prices, and their participation could trigger the same type of boom-and-bust cycles that have buffeted other commodities...
The hedge fund manager says that banks will attempt to inflate the carbon market by recruiting investors from hedge funds and pension funds.
“Wall Street is going to sell it as an investment product to people that have nothing to do with carbon,” he says. “Then suddenly investment managers are dominating the asset class, and nothing is related to actual supply and demand. We have seen this movie before.”
Indeed, as I have previously pointed out, many environmentalists are opposed to cap and trade as well. For example:
Michelle Chan, a senior policy analyst in San Francisco for Friends of the Earth, isn’t convinced.
“Should we really create a new $2 trillion market when we haven’t yet finished the job of revamping and testing new financial regulation?” she asks. Chan says that, given their recent history, the banks’ ability to turn climate change into a new commodities market should be curbed...
“What we have just been woken up to in the credit crisis -- to a jarring and shocking degree -- is what happens in the real world,” she says...
Friends of the Earth’s Chan is working hard to prevent the banks from adding carbon to their repertoire. She titled a March FOE report “Subprime Carbon?” In testimony on Capitol Hill, she warned, “Wall Street won’t just be brokering in plain carbon derivatives -- they’ll get creative.”
Yes, they'll get "creative", and we have seen this movie before ...an inadequately-regulated carbon derivatives boom will destabilize the economy and lead to another crash.
Architect of Credit Default Swaps behind the Development of "Carbon Derivatives"
by Washington's Blog
As I have previously shown, speculative derivatives (especially credit default swaps) are a primary cause of the economic crisis.
And I have pointed out that (1) the giant banks will make a killing on carbon trading, (2) while the leading scientist crusading against global warming says it won't work, and (3) there is a very high probability of massive fraud and insider trading in the carbon trading markets.
Now, Bloomberg notes that the carbon trading scheme will be centered around derivatives:
The banks are preparing to do with carbon what they’ve done before: design and market derivatives contracts that will help client companies hedge their price risk over the long term. They’re also ready to sell carbon-related financial products to outside investors.
[Blythe] Masters says banks must be allowed to lead the way if a mandatory carbon-trading system is going to help save the planet at the lowest possible cost. And derivatives related to carbon must be part of the mix, she says. Derivatives are securities whose value is derived from the value of an underlying commodity -- in this case, CO2 and other greenhouse gases...
Who is Blythe Masters?
She is the JP Morgan employee who invented credit default swaps, and is now heading JPM's carbon trading efforts. As Bloomberg notes (this and all remaining quotes are from the above-linked Bloomberg article):
Masters, 40, oversees the New York bank’s environmental businesses as the firm’s global head of commodities...
As a young London banker in the early 1990s, Masters was part of JPMorgan’s team developing ideas for transferring risk to third parties. She went on to manage credit risk for JPMorgan’s investment bank.
Among the credit derivatives that grew from the bank’s early efforts was the credit-default swap.
Some in congress are fighting against carbon derivatives:
“People are going to be cutting up carbon futures, and we’ll be in trouble,” says Maria Cantwell, a Democratic senator from Washington state. “You can’t stay ahead of the next tool they’re going to create.”
Cantwell, 51, proposed in November that U.S. state governments be given the right to ban unregulated financial products. “The derivatives market has done so much damage to our economy and is nothing more than a very-high-stakes casino -- except that casinos have to abide by regulations,” she wrote in a press release...
However, Congress may cave in to industry pressure to let carbon derivatives trade over-the-counter:
The House cap-and-trade bill bans OTC derivatives, requiring that all carbon trading be done on exchanges...The bankers say such a ban would be a mistake...The banks and companies may get their way on carbon derivatives in separate legislation now being worked out in Congress...
Financial experts are also opposed to cap and trade:
Even George Soros, the billionaire hedge fund operator, says money managers would find ways to manipulate cap-and-trade markets. “The system can be gamed,” Soros, 79, remarked at a London School of Economics seminar in July. “That’s why financial types like me like it -- because there are financial opportunities”...
Hedge fund manager Michael Masters, founder of Masters Capital Management LLC, based in St. Croix, U.S. Virgin Islands [and unrelated to Blythe Masters] says speculators will end up controlling U.S. carbon prices, and their participation could trigger the same type of boom-and-bust cycles that have buffeted other commodities...
The hedge fund manager says that banks will attempt to inflate the carbon market by recruiting investors from hedge funds and pension funds.
“Wall Street is going to sell it as an investment product to people that have nothing to do with carbon,” he says. “Then suddenly investment managers are dominating the asset class, and nothing is related to actual supply and demand. We have seen this movie before.”
Indeed, as I have previously pointed out, many environmentalists are opposed to cap and trade as well. For example:
Michelle Chan, a senior policy analyst in San Francisco for Friends of the Earth, isn’t convinced.
“Should we really create a new $2 trillion market when we haven’t yet finished the job of revamping and testing new financial regulation?” she asks. Chan says that, given their recent history, the banks’ ability to turn climate change into a new commodities market should be curbed...
“What we have just been woken up to in the credit crisis -- to a jarring and shocking degree -- is what happens in the real world,” she says...
Friends of the Earth’s Chan is working hard to prevent the banks from adding carbon to their repertoire. She titled a March FOE report “Subprime Carbon?” In testimony on Capitol Hill, she warned, “Wall Street won’t just be brokering in plain carbon derivatives -- they’ll get creative.”
Yes, they'll get "creative", and we have seen this movie before ...an inadequately-regulated carbon derivatives boom will destabilize the economy and lead to another crash.
Capping Emissions, Trading On The Future
Capping Emissions, Trading On The Future
Joel Kotkin
Forbes
Tuesday, December 8, 2009
Whatever the results of the Copenhagen conference on climate change, one thing is for sure: Draconian reductions on carbon emissions will be tacitly accepted by the most developed economies and sloughed off by many developing ones. In essence, emerging economies get to cut their “carbon” intensity–a natural product of their economic evolution–while we get to cut our throats.
The logic behind this prediction goes something like this. Since the West created the industrial revolution and the greenhouse gases that supposedly caused this “crisis,” it’s our obligation to take much of the burden for cleaning them up.
Plagued by self-doubt and even self-loathing, many in the West will no doubt consider this an appropriate mea culpa. Our leaders will dutifully accept cuts in our carbon emissions–up to 80% by 2050–while developing countries increasetheirs, albeit at a lower rate. Oh, we also pledge to send billions in aid to help them achieve this goal.
The media shills, scientists, bureaucrats and corporate rent-seekers gathered at Copenhagen won’t give much thought to what this means to the industrialized world’s middle and working class. For many of them the new carbon regime means a gradual decline in living standards. Huge increases in energy costs, taxes and a spate of regulatory mandates will restrict their access to everything from single-family housing and personal mobility to employment in carbon-intensive industries like construction, manufacturing, warehousing and agriculture.
You can get a glimpse of this future in high-unemployment California. Here a burgeoning regulatory regime tied to global warming threatens to turn the state into a total “no go” economic development zone. Not only do companies have to deal with high taxes, cascading energy prices and regulations, they now face audits of their impact on global warming. Far easier to move your project to Texas–or if necessary, China.
Full story here.
Joel Kotkin
Forbes
Tuesday, December 8, 2009
Whatever the results of the Copenhagen conference on climate change, one thing is for sure: Draconian reductions on carbon emissions will be tacitly accepted by the most developed economies and sloughed off by many developing ones. In essence, emerging economies get to cut their “carbon” intensity–a natural product of their economic evolution–while we get to cut our throats.
The logic behind this prediction goes something like this. Since the West created the industrial revolution and the greenhouse gases that supposedly caused this “crisis,” it’s our obligation to take much of the burden for cleaning them up.
Plagued by self-doubt and even self-loathing, many in the West will no doubt consider this an appropriate mea culpa. Our leaders will dutifully accept cuts in our carbon emissions–up to 80% by 2050–while developing countries increasetheirs, albeit at a lower rate. Oh, we also pledge to send billions in aid to help them achieve this goal.
The media shills, scientists, bureaucrats and corporate rent-seekers gathered at Copenhagen won’t give much thought to what this means to the industrialized world’s middle and working class. For many of them the new carbon regime means a gradual decline in living standards. Huge increases in energy costs, taxes and a spate of regulatory mandates will restrict their access to everything from single-family housing and personal mobility to employment in carbon-intensive industries like construction, manufacturing, warehousing and agriculture.
You can get a glimpse of this future in high-unemployment California. Here a burgeoning regulatory regime tied to global warming threatens to turn the state into a total “no go” economic development zone. Not only do companies have to deal with high taxes, cascading energy prices and regulations, they now face audits of their impact on global warming. Far easier to move your project to Texas–or if necessary, China.
Full story here.
Leaked Copenhagen Document: World Bank To Control Climate Change Slush Fund
Leaked Copenhagen Document: World Bank To Control Climate Change Slush Fund
Copenhagen climate summit in disarray after ‘Danish text’ leak
John Vidal
London Guardian
Tuesday, December 8, 2009
The UN Copenhagen climate talks are in disarray today after developing countries reacted furiously to leaked documents that show world leaders will next week be asked to sign an agreement that hands more power to rich countries and sidelines the UN’s role in all future climate change negotiations.
The document is also being interpreted by developing countries as setting unequal limits on per capita carbon emissions for developed and developing countries in 2050; meaning that people in rich countries would be permitted to emit nearly twice as much under the proposals.
The so-called Danish text, a secret draft agreement worked on by a group of individuals known as “the circle of commitment” – but understood to include the UK, US and Denmark – has only been shown to a handful of countries since it was finalised this week.
The agreement, leaked to the Guardian, is a departure from the Kyoto protocol’s principle that rich nations, which have emitted the bulk of the CO2, should take on firm and binding commitments to reduce greenhouse gases, while poorer nations were not compelled to act. The draft hands effective control of climate change finance to the World Bank; would abandon the Kyoto protocol – the only legally binding treaty that the world has on emissions reductions; and would make any money to help poor countries adapt to climate change dependent on them taking a range of actions.
The document was described last night by one senior diplomat as “a very dangerous document for developing countries. It is a fundamental reworking of the UN balance of obligations. It is to be superimposed without discussion on the talks”.
Full story here.
Copenhagen climate summit in disarray after ‘Danish text’ leak
John Vidal
London Guardian
Tuesday, December 8, 2009
The UN Copenhagen climate talks are in disarray today after developing countries reacted furiously to leaked documents that show world leaders will next week be asked to sign an agreement that hands more power to rich countries and sidelines the UN’s role in all future climate change negotiations.
The document is also being interpreted by developing countries as setting unequal limits on per capita carbon emissions for developed and developing countries in 2050; meaning that people in rich countries would be permitted to emit nearly twice as much under the proposals.
The so-called Danish text, a secret draft agreement worked on by a group of individuals known as “the circle of commitment” – but understood to include the UK, US and Denmark – has only been shown to a handful of countries since it was finalised this week.
The agreement, leaked to the Guardian, is a departure from the Kyoto protocol’s principle that rich nations, which have emitted the bulk of the CO2, should take on firm and binding commitments to reduce greenhouse gases, while poorer nations were not compelled to act. The draft hands effective control of climate change finance to the World Bank; would abandon the Kyoto protocol – the only legally binding treaty that the world has on emissions reductions; and would make any money to help poor countries adapt to climate change dependent on them taking a range of actions.
The document was described last night by one senior diplomat as “a very dangerous document for developing countries. It is a fundamental reworking of the UN balance of obligations. It is to be superimposed without discussion on the talks”.
Full story here.
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