Jerry Jackson

Posts Tagged ‘George W Bush’

China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills

In Big Business, China, Human Rights, Police State, Society, World News on June 18, 2011 at 9:46 pm


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Engraving of the U.S. Treasury building in 1804.

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China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury.
Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nation’s debt.
Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here.
Until October, the Chinese were generally making up for their decreasing holdings in Treasury bills by increasing their holdings of longer-term U.S. Treasury securities. Thus, until October, China’s overall holdings of U.S. debt continued to increase.
Since October, however, China has also started to divest from longer-term U.S. Treasury securities. Thus, as reported by the Treasury Department, China’s ownership of the U.S. national debt has decreased in each of the last five months on record, including November, December, January, February and March.
Prior to the fall of 2008, acccording to Treasury Department data, Chinese ownership of short-term Treasury bills was modest, standing at only $19.8 billion in August of that year. But when President George W. Bush signed legislation to authorize a $700-billion bailout of the U.S. financial industry in October 2008 and President Barack Obama signed a $787-billion economic stimulus law in February 2009, Chinese ownership of short-term U.S. Treasury bills skyrocketed.
By December 2008, China owned $165.2 billion in U.S. Treasury bills, according to the Treasury Department. By March 2009, Chinese Treasury bill holdings were at $191.1 billion. By May 2009, Chinese holdings of Treasury bills were peaking at $210.4 billion.
However, China’s overall appetite for U.S. debt increased over a longer span than did its appetite for short-term U.S. Treasury bills.
In August 2008, before the bank bailout and the stimulus law, overall Chinese holdings of U.S. debt stood at $573.7 billion. That number continued to escalate past May 2009– when China started to reduce its holdings in short-term Treasury bills–and ultimately peaked at $1.1753 trillion last October.


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As of March 2011, overall Chinese holdings of U.S. debt had decreased to 1.1449 trillion.
Most of the U.S. national debt is made up of publicly marketable securities sold by the Treasury Department and I.O.U.s called “intragovernmental” bonds that the Treasury has given to so-called government trust funds—such as the Social Security trust funds—when it has spent the trust funds’ money on other government expenses.
The publicly marketable segment of the national debt includes Treasury bills, which (as defined by the Treasury) mature in terms of one-year or less; Treasury notes, which mature in terms of 2 to 10 years; Treasury Inflation-Protected Securities (TIPS), which mature in terms of 5, 10 and 30 years; and Treasury bonds, which mature in terms of 30 years.
At the end of August 2008, before the financial bailout and the stimulus, the publicly marketable segment of the U.S. national debt was 4.88 trillion. Of that, $2.56 trillion was in the intermediate-term Treasury notes, $1.22 trillion was in short-term Treasury bills, $582.8 billion was in long-term Treasury bonds, and $521.3 billion was in TIPS.
At the end of March 2011, by which time the Chinese had dropped their Treasury bill holdings 97 percent from their peak, the publicly marketable segment of the U.S. national debt had almost doubled from August 2008, hitting $9.11 trillion. Of that $9.11 trillion, $5.8 trillion was in intermediate-term Treasury notes, $1.7 trillion was in short-term Treasury bills; $931.5 billion was in long-term Treasury bonds, and $640.7 billion was in TIPS.
Before the end of March 2012, the Treasury must redeem all of the $1.7 trillion in Treasury bills that were extant as of March 2011 and find new or old buyers who will continue to invest in U.S. debt. But, for now, the Chinese at least do not appear to be bullish customers of short-term U.S. debt.
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Short Life Expectancy for BP Whistleblowers?

In Activism, Big Business, Human Rights, Society on April 25, 2011 at 6:59 am

Pat Shannan
American Free Press
April 23, 2011

The investigation, if it can properly be so called, of the unsolved murder of the former high ranking Pentagon official and presidential advisor John P. Wheeler III, who was also an expert on chemical and biological weapons, may be taking a turn in the direction of the Gulf of Mexico oil spill.

Wheeler, 67, a West Point grad, was beaten and thrown into a garbage dumpster. His body was discovered in a Wilmington, Del. landfill last New Year’s weekend. Both police detectives and news commentators described it as “an apparent hit,” but little else was ever learned, and no suspects have surfaced.

There was great speculation by many at the time that Wheeler had begun to blow the whistle on the mysterious bird and fish deaths in Arkansas and Texas, and was about to expose the facts tying this to the chemtrails seen in our skies over the past decade.

Now the speculation may be reverting to British Petroleum and the gulf spill because a number of other BP whistle blowing scientists, before and since the Wheeler murder, have also died mysteriously, been jailed on questionable charges or disappeared without a trace.

Matthew Simmons, 67, a former energy advisor to President George W. Bush and admired among survivalist groups for his dire warnings on the upcoming commodity and fuel shortages about to hit this nation, died in his hot tub in Maine last August. Simmons had been gaining popularity as a whistle blower for blaming BP for its covered-up responsibility in defacing and vandalizing the Gulf of Mexico while hiding the truth from the general public.

Only four days later, Ted Stevens, the 87-year-old defrocked senator from Alaska, said to have received communications regarding BP’s faulty blowout preventer, perished in a plane crash. British Petroleum had donated $1 million to the University of Alaska to catalog the papers from Stevens’s long political career.


Roger Grooters began a cross country bike ride in Oceanside, Calif. on Sept. 10 to draw attention to the Gulf Coast oil disaster. On Oct. 6, in front of the horrified eyes of his wife, who was trailing in a support vehicle, Grooters was struck by a truck and killed instantly in Panama City, Fla.

Only a month later, Dr. Geoffrey Gardner of Lakeland, Fla. disappeared. He was investigating the unexplained bird deaths near Sarasota that are suspected to have been caused by the BP oil disaster. No one has heard from or spoken with him since.

On Nov. 15, Chitra Chaunhan was found dead of cyanide poisoning in a Temple Terrace, Fla. hotel. It was officially ruled a suicide. She worked in the Center for Biological Defense and Global Health Infectious Disease Research and left behind a husband and five-year-old child.

The following week, James Patrick Black, director of operations for BP’s restoration organization for the oil spill, died near Destin, Fla. in a small plane crash.

Dr. Thomas B. Manton was one of the first to warn the public that far more oil than what BP had reported was gushing into the gulf every day and that the massive, toxic oil and chemical plumes would travel up the eastern seaboard, contaminating beaches and wildlife all the way.
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“Once the winds change, it will come eastward and pollute the beaches of the west coast of Florida, and the ‘loop current’ could carry this oil spill right around Florida, through the Florida Keys and pollute the east coast of Florida as well,” Manton wrote on May 28, 2010.

Dr. Tom Termotto, national coordinator of the Gulf Oil Spill Remediation Conference, says Manton was murdered in prison. Manton had been sentenced to 15 years last August on a phony child pornography charge. Termotto and others say evidence was planted on his computer.

It is not known whether or not Anthony Nicholas Tremonte, 31, posed any threat to BP, but he too was arrested in January and charged with one count of possession of child pornography. Was this charge also faked? As an officer with the Mississippi Department of Marine Resources on the Gulf Coast, he may have known enough to qualify him for membership in this exclusive series of coincidences. He faces up to 40 years in prison if convicted.

Pat Shannan is a contributing editor of American Free Press. He is also the author of several videos and books including One in a Million: An IRS TravestyI Rode With Tupperand Everything They Ever Told Me Was a Lie. All of Pat’s books are available from FIRST AMENDMENT BOOKS. Call 2025475585 for availability and pricing.

The Mysterious Deaths of Nine Gulf Oil Spill Whistleblowers

BP Whistleblowers
April 23, 2011

In the past year, nine vocal critics or potential whistleblowers of the Gulf oil spill all died in extremely mysterious ways. Their deaths could be strange, unrelated coincidences. Or they could have been killed as part of a conspiracy to silence those who were speaking out against the worst oil spill in American history.

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The blog post:
http://bpwhistleblowers.blogspot.com/


Links to each individual case under question:

Professor Greg Stone
http://www.lsu.edu/ur/ocur/lsunews/MediaCenter/News/2011/02/item25180.html

Officer Anthony Nicholas Tremonte
http://www.copwatch.net/forums/showthread.php?s=af7b24627aa857134f9fa763817f3…

Dr. Thomas B. Manton
http://www.naturalnews.com/031115_Thomas_Manton_oil_spill.html

John P. Wheeler II
http://en.wikipedia.org/wiki/John_P._Wheeler_III#Death

James Patrick Black
http://sec.floridatoday.com/article/0eG44wOcqRdIM?q=Florida

USF biologist Chitra Chauhan
http://www.abcactionnews.com/dpp/news/region_east_hillsborough/temple_terrace…

Roger Grooters
http://www.dailymail.co.uk/news/article-1319529/Cyclist-Roger-Grooters-66-kil…

Senator Ted Stevens
http://beforeitsnews.com/story/132/410/Sen._Ted_Stevens_Killed_In_Plane_Crash…

Matthew Simmons
http://en.wikipedia.org/wiki/Matthew_Simmons

Joseph Morrissey
http://www.palmbeachpost.com/news/crime/nova-instructor-shot-dead-in-plantati…



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GOP lawyer drafts Obama impeachment

In Activism, Human Rights, Libya, Military, Society on April 8, 2011 at 2:17 am


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Second page of Constitution of the United States

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A prominent libertarian constitutional lawyer and civil libertarian has drafted an article of impeachment against President Obama over his attack on Libya, throwing down a legal gauntlet that could be picked up by some Congressional Republicans

Bruce Fein, a former Reagan administration official in the Department of Justice and chairman of American Freedom Agenda writes in his 15-page argument of Obama’s course that “Barack Hussein Obama has mocked the rule of law, endangered the very existence of the Republic and the liberties of the people, and perpetrated an impeachable high crime and misdemeanor.”

Fein is a small-government conservative who worked on the impeachment of President Bill Clinton and also called for the impeachment of President George W. Bush and Vice President Dick Cheney, and his work doesn’t represent the Republican Party line. But it comes as some Republicans on the Hill, led by Senator Rand Paul, object vociferously to Obama’s decision to strike targets in Libya without Congressional authorization.

“He’s been more bold than any other president,” said Fein, who said Obama has failed to secure congressional approval for his military action in a much more brazen way than previous administrations.

“If he can wipe out the war powers authorization, why can’t he wipe out Congress’s authority to spend?” asked Fein. ” If we’re going to be a government of laws, and not descend into empire, this is Caesar crossing the Rubicon.”

Fein said a number of Congressional offices have expressed interest in his proposal.

“They actually need to defend constitutional prerogatives,” said Fein. “There’s definitely been interest on the Hill. There’s at least two dozen who have been open to the idea that this is a serious constitutional crisis.”

Fein’s articles of impeachment discuss the run-up to the Libya conflict and conclude, “In all of this, President Barack Obama has acted in a manner contrary to his trust as President and subversive of constitutional government, to the great prejudice of the cause of law and justice and to the manifest injury of the people of the United States.”

The article of impeachment and three subsections are after the jump.

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(with Byron Tau)

ARTICLE OF IMPEACHMENT OF PRESIDENT BARACK HUSSEIN OBAMA

RESOLVED, That Barack Hussein Obama, President of the United States, is impeached for high crimes and misdemeanors, and that the following article of impeachment to be exhibited to the Senate:


ARTICLE OF IMPEACHMENT EXHIBITED BY THE HOUSE OF REPRESENTATIVES OF THE UNITED STATES OF AMERICA IN THE NAME OF ITSELF AND OF ALL OF THE PEOPLE OF THE UNITED STATES OF AMERICA, AGAINST BARACK HUSSEIN OBAMA, PRESIDENT OF THE UNITED STATES OF AMERICA, IN MAINTENANCE AND SUPPORT OF ITS IMPEACHMENT AGAINST HIM FOR HIGH CRIMES AND MISDEMEANORS IN USURPING THE EXCLUSIVE PREROGATIVE OF CONGRESS TO COMENCE WAR UNDER ARTICLE 1, SECTION 8, CLAUSE 11 OF THE CONSTITUTION.
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ARTICLE I

In his conduct of the office of President of the United States, Barack Hussein Obama, in violation of his constitutional oath faithfully to execute the office of President of the United States and, to the best of his ability, preserve, protect, and defend the Constitution of the United States, and in violation of his constitutional duty to take care that the laws be faithfully executed, has usurped the exclusive power of Congress to initiate war under Article I, section 8, clause 11 of the United States Constitution by unilaterally commencing war against the Republic of Libya on March 19, 2011, declaring that Congress is powerless to constrain his conduct of the war, and claiming authority in the future to commence war unilaterally to advance whatever he ordains is in the national interest. By so doing and declaring, Barack Hussein Obama has mocked the rule of law, endangered the very existence of the Republic and the liberties of the people, and perpetrated an impeachable high crime and misdemeanor as hereinafter elaborated.

I.
THE IMPEACHMENT POWER

1. Article II, Section IV of the United States Constitution provides: “The President, Vice President and all civil Officers of the United States, shall be removed from Office on Impeachment for, and Conviction of, Treason, Bribery, or other high Crimes and Misdemeanors.”

2. According to James Madison’s Records of the Convention, 2:550; Madison, 8 Sept., Mr. George Mason objected to an initial proposal to confine impeachable offenses to treason or bribery:

Why is the provision restrained to Treason & bribery only? Treason as defined in the Constitution will not reach many great and dangerous offences. Hastings is not guilty of Treason. Attempts to subvert the Constitution may not be Treason as above defined–As bills of attainder which have saved the British Constitution are forbidden, it is the more necessary to extend: the power of impeachments.

3. Delegates to the Federal Convention voted overwhelmingly to include “high crimes and misdemeanors” in Article II, Section IV of the United States Constitution specifically to ensure that “attempts to subvert the Constitution” would fall within the universe of impeachable offences. Id.

4. Alexander Hamilton, a delegate to the Federal Convention, characterized impeachable offenses in Federalist 65 as, “offenses which proceed from the misconduct of public men, or in other words, from the violation or abuse of some public trust. They are of a nature which with peculiar propriety may be denominated political, as they relate chiefly to injuries done to society itself.”

5. In 1974, the House Judiciary Committee voted three articles of impeachment against then President Richard M. Nixon for actions “subversive of constitutional government.”

6. Father of the Constitution, James Madison, observed that, “Of all the enemies of public liberty, war is, perhaps, the most to be dreaded, because it comprises and develops the germ of every other…. War is the true nurse of executive aggrandizement.”

7. James Madison also instructed that “no nation could preserve its freedom in the midst of continual warfare.”

8. The exclusive congressional power to commence war under Article I, section VIII, clause XI of the Constitution is the pillar of the Republic and the greatest constitutional guarantor of individual liberty, transparency, and government frugality.

II.
THE “DECLARE WAR” CLAUSE

9. Article I, Section VIII, Clause XI of the United States Constitution provides: “The Congress shall have the power … To declare War, grant Letters of Marque and Reprisal, and make Rules concerning Captures on Land and Water;”

10. Article II, Section II, Clause I of the United States Constitution provides: “The President shall be Commander in Chief of the Army and Navy of the United States, and of the Militia of the several States, when called into the actual Service of the United States.” Read the rest of this entry »

Bush cancels out of event where Assange was due to attend

In Wikileaks on February 28, 2011 at 12:56 pm


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Julian Assange at New Media Days 09 in Copenhagen.

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Washington – Former president George W Bush abruptly cancelled a speaking engagement planned for Saturday after learning that WikiLeaks founder Julian Assange had also been invited to attend.
Bush spokesman David Sherer on Friday said ‘the former president has no desire to share a forum with a man who has willfully and repeatedly done great harm to the interests of the United States.’
Bush had six months ago accepted the invitation to speak at the Young President’s Organization Global Leadership Summit in Denver, a gathering of young chief executives.
Assange was also apparently invited, though he is being held in London pending extradition to Sweden to face charges for sexual offences.
Many US politicians and the government officials have condemned WikiLeaks and its founder Assange for releasing thousands of private US diplomatic cables and Pentagon documents from the wars in Iraq and Afghanistan.

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