"Each time a person stands up for an ideal, or acts to improve the lot of others. . .they send forth a ripple of hope, and crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance."Robert F. Kennedy
Using grade school physics of both Newtonian and Nuclear models, does anyone foresee counter currents of sufficient size to minimize/change direction of the huge 'Tsunami' roaring down on us, taking away not only our Freedom, but our Lives? Regardless if our salaries are dependant on us not knowing the inconvenient truths of reality (global warming, corporate rule, stagnant energy science) portrayed by the rare articles in the news media? I know only one - a free science, our window to Reality - that easily resolves the Foundational Problem of Quantum Physics and takes E=MC2 out of Kindergarten
U.S. Oil Addiction Is Here To Stay Due To Lack Of Alternatives (......lack of alternatives ??????) REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$
BREAKTHROUGH! (late 1940's) Distance-Time Barrier Dissolvinghttp://fuel2000.net/starsteps.htm Self-evident, it is a smaller world today because physical size has been substituted by speed. The obstacles of great distances and vast time appear to diminish before our very eyes. More precisely, space-time and position are increasingly being substituted by greater energy differentials of velocity and acceleration. The multidimensional question surfaces, can this same effect be created by factors other than velocity? What role may varying degrees of frequencies and fields play in transmuting space, time? In providing access to available energy capacities through gravitational mass differentials?
Blacklight Power Invents World Changing Thermal Power Generator Dr. Shelby Brewer, former CEO of ABB Combustion Engineering and Assistant Secretary of Energy during the Reagan Administration called today's announcement remarkable. "In my nearly 50 years in and around the energy business, I've yet to see a breakthrough as promising as this one. When I was studying to become a nuclear engineer in the 1960s, I never imagined I would see a day like today." Brewer, a current board member of BlackLight Power, added "This breakthrough was entirely supported by private capital with no government investment." http://www.nextenergynews.com/news1/next-energy-news5.30.08c.html BlackLight Power has announced the successful testing of a new breakthrough energy source that could transform energy production and put America on the road to a near infinite clean supply of thermal generated power. The company has successfully developed a prototype power system generating 50,000 watts of thermal power on demand. BlackLight Power is pursuing the immediate design and engineering of central power plants utilizing the BlackLight Process. BLP plans on developing pilot plants with architecture and engineering firms with anticipated delivery in approximately 12 to 18 months. The BLP process has been replicated and validated by independent scientists and has received interest from financial institutions and power utility plant operators around the world. BLP plans on licensing its technologies. "If you make cheap heat, you can make cheap electricity and if you can make cheap electricity you can make cheap hydrogen," says Randell Mills, Chairman, CEO, and President of BlackLight Power Inc. "The BlackLight Process generates enormous amounts of cheap, non-polluting heat that will replace the thermal power in coal, oil, gas and nuclear power plants that is then converted to electricity." And with gasoline prices setting record after record, BlackLight CEO Randell Mills, says the BlackLight Process is the breakthrough we've all been waiting for. "The hydrogen-burning car has been possible for decades, but there has never been a way to produce cheap hydrogen until today. We are projecting that we will be at the scale of power generation necessary for a power plant to replace the gasoline pumped in a day at a station with hydrogen from water in approximately 24 months." Dr. Shelby Brewer, former CEO of ABB Combustion Engineering and Assistant Secretary of Energy during the Reagan Administration called today's announcement remarkable. "In my nearly 50 years in and around the energy business, I've yet to see a breakthrough as promising as this one. When I was studying to become a nuclear engineer in the 1960s, I never imagined I would see a day like today." Brewer, a current board member of BlackLight Power, added "This breakthrough was entirely supported by private capital with no government investment." Michael Jordan, former CEO of Westinghouse and current board member of BlackLight Power, says "The breakthroughs announced by Randell Mills and his team of scientists will go down as one of the most important advances in the field of energy in the last fifty years."
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$ Freedumb, Freedumb, Read All About It!"A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide? PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear'depending on how great the need for sustaining Life?
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence. The Solution:The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed"Corporism: The Systemic Disease that Destroys Civilization."when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival. Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans). As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
FREEDUMB, FREEDUMB READ ALL ABOUT IT – also read history: How lethal can obscene blind power and greed become? What Happened America? Who has all the money, Who is making all the decisions? Corporate golden greedy guts decision makers continue to be rewarded with more and more of taxpayer dollars, as the trickle up compensation has left the majority of working citizens at below slavery compensation (note that slaves worked and received both FOOD AND RENT/HOUSING)…..by the way, what were CD and Money Market rates in the 60’s?
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$ Freedumb, Freedumb, Read All About It!"A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide? PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear'depending on how great the need for sustaining Life?
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence. The Solution:The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed"Corporism: The Systemic Disease that Destroys Civilization."when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival. Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans). As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
Banker + gangster = bankster A POINT OF VIEW It seems timely to resurrect this Americanism from the 1930s - one of many evocative words the United States has contributed to the English language, says Harold Evans. Americans are pretty good at adding words to the English language. We owe them pin-up girls, highbrows, killjoys, stooges, hobos, drop-outs, shills, bobby-soxers, hijackers, do-gooders and hitchhikers who thumb a ride. The Americanisms are so much more concise and vivid. Instead of saying "sorry we're late but drivers ahead of us slowed us down when they craned their necks to look at a crash" you can say "we were held up by rubberneckers". Words pop in and out of our language as social conditions change. The American gangster, which is still with us, has been around as a noun and a reality since 1896 according to my Shorter Oxford, but it seems to have dropped another Americanism from the 1930s and I think now is the time to revive it. The word is bankster, derived by a marriage of banker and gangster. It was coined, as far as I can deduce, by an American immigrant, a fiery Sicilian-born lawyer by the name of Ferdinand Pecora. He was the chief counsel to the US Senate Committee on Banking set up in the early 30s to probe the origins of the Crash of 1929. He exposed quite a lot of the Wall Street practices that Harvard's Professor William Z Ripley had condemned in 1928. The believable Ripley called them - get ready for these Americanisms - "prestidigitation, double-shuffling, honey-fugling, hornswoggling and skullduggery". The professor had vainly tried to warn President Calvin Coolidge that Wall Street was full of gas and was bound to blow up. To great discomfort all round, Pecora identified Coolidge himself, by then out of office, as one of those who'd been in on the honey-fugling. The great banking house of JP Morgan had the president on a "preferred list" by which the bank's influential friends were given a chance to buy stock at half price. Shall we say, they made out like bandits? Today the term bankster perfectly fits Bernard Madoff, whose crooked Ponzi scheme lost $50 billion of what the trade calls OPM - other people's money - invested with him. Costly rug But the revelations come thick and fast. People are now struggling for words to describe the latest example of Wall St's money madness. The fabled investment bank Merrill Lynch, run by one John Thain, had so many big zeroes on its balance sheet it would have been liquidated in December but for a merger with the Bank of America. That was actually a shotgun marriage - in the US vernacular - since the Bank of America was forced to take billions of government money when it learned later that Merrill Lynch was down another $15bn. Then what? In the few days in December while he was still in charge, Mr Thain reportedly spent nearly $4bn on staff bonuses. That's peanuts on Wall St. In 2007 Mr Thain himself received $83m. But a week ago, CNBC's Charles Gasparino, in a detailed scoop on the Daily Beast website revealed that during the time Mr Thain was busy cost-cutting, he spent $1.1m doing up his office - $86,000 for a rug, $35,000 for something called a commode on legs. Readers bayed for blood, posting comments such as: "Oh how I wish this was Revolutionary France and we peasants could storm the offices…" The anger about the greed that got us into our mess is, in my view, wholly justified. And now we hear that 10 of the big banks that got $148bn from Uncle Sam so they could make loans to get things humming again have actually reduced their loan totals by $46bn. Mr Thain now is history, having resigned, but the great Bank of America, the biggest in the US and maybe the world is now on the list of banks that may have to be nationalised - a word no red-blooded American ever thought would be uttered in the land of enterprise. Have money, will lend The piquancy of all this is that if the term banker is ever to be restored to its former prestige, the public and Wall St might reflect on one highly relevant example of a banker who was not a bankster. It is the story of Amadeo Peter Giannini, a big man on the side of the little man. When the transcontinental railway started services to California after the line's completion in May 1869, he was among the very first passengers. He was in the womb of his newlywed mother, 15-year-old Virginia. His father, having made money in the goldfields, had gone back to Italy for her. It is nice to think that as the young immigrants crossed the Rockies, their adventurous spirits somehow crossed the placental barrier. Amadeo was born on 6 May, 1870. He grew up on a little farm, whose produce his mother and father sold in booming San Francisco. In 1877 when he was six, he saw his father gunned down. His mother moved to the city to buy wholesale from farmers and sell to shops. Amadeo - or AP as he became known - grew into a tall, strong man, more than able to hold his own in the rough auctions for fruit and veg on the wharfs where traders met the farmers' boats. He helped to build a thriving business. When he was 31 he sold his share, saying he had no interest in accumulating wealth. "No man owns a fortune," he said. "It owns him." It was the motto of his life. He'd married and on the death of his father in law, was persuaded to take his vacant place on the board of a little bank in North Beach. He was appalled that they'd not lend money to poor immigrants. The rows in the board room reverberated over North Beach until AP walked out and started a little bank of his own to do that, the Bank of Italy. From his work on the wharves, he'd become a shrewd judge of character, so he'd cheerfully lend money to pay doctor's bills for delivery of a baby if he judged the couple had integrity. Phoenix from the rubble On Wednesday 18 April, 1906, San Francisco was devastated by earthquake and fire. AP rushed to get all his gold and paper money out of danger, hid it under orange crates to conceal it from looters, and stood guard all night in his home. It must have been a debilitating moment the next day to find his baby bank a mass of charred rubble. The bigger banks, who had vaults too hot to open, had no records and were not lending. AP instead went down to a wharf close to the smouldering North Beach, flung a plank across two barrels, and with his baritone booming across the desolation, started lending some of his $80,000 to rebuild San Francisco. He looked for steamship captains he knew, shoved money into their hands, saying "go north and get lumber". AP radiated so much confidence, making a big show of jiggling his little bag of gold, hundreds who'd been hoarding cash and gold banked it with him. North Beach was built faster than any other area. By 1918 he'd established California's first state-wide banking system. A little local bank in the valley that would have closed in a run after a bad harvest could now keep open by borrowing from the city branch. He set out to build a nationwide banking system so that distressed areas could be helped by ones that were prospering. Wall St hated him. He beat off their attempts to destroy him. In the Great Depression, he took every opportunity in the New Deal legislation to get California revived in time for the war and the boom that followed. He did it by putting the community first, himself last. He set up low interest instalment credit plans which enabled thousands to avoid the loan sharks and buy cookers and refrigerators and autos, and he built a whole new electrical industry with his loans. He financed the Golden Gate bridge, and the Disney movie Snow White and the Seven Dwarfs. No man could do so much good without being maligned. It was said he wore the mask of populism to create a dangerous instrument of personal power and personal wealth. The truth is that the man whose life was money had no interest in money. He refused to take increases in pay and spurned every bonus. He banned insider trading. Shortly after retiring in 1945, when he found himself in danger of becoming a millionaire, he set up a foundation and gave it half his personal fortune. And the little bank for the ordinary man that he founded? The Bank of America. Story from BBC NEWS:http://news.bbc.co.uk/go/pr/fr/-/2/hi/uk_news/magazine/7861397.stmPublished: 2009/01/30 17:11:35 GMT
U.S. Oil Addiction Is Here To Stay Due To Lack Of Alternatives (......lack of alternatives ??????) REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$
BREAKTHROUGH! (late 1940's) Distance-Time Barrier Dissolvinghttp://fuel2000.net/starsteps.htm Self-evident, it is a smaller world today because physical size has been substituted by speed. The obstacles of great distances and vast time appear to diminish before our very eyes. More precisely, space-time and position are increasingly being substituted by greater energy differentials of velocity and acceleration. The multidimensional question surfaces, can this same effect be created by factors other than velocity? What role may varying degrees of frequencies and fields play in transmuting space, time? In providing access to available energy capacities through gravitational mass differentials?
New Energy Sources and Inventions http://www.wanttoknow.info/freeenergy In the late 1880's, trade journals in the electrical sciences were predicting "free electricity" in the near future. Incredible discoveries about the nature of electricity were becoming commonplace. Within 20 years, there would be automobiles, airplanes, movies, recorded music, telephones, radio, and practical cameras. For the first time in history, common people were encouraged to envision a utopian future filled with abundant modern transportation and communication, as well as jobs, housing and food for everyone. So what happened? Where did the new energy breakthroughs go? Was this excitement about free electricity all just wishful thinking that science eventually disproved? Current State of Technology. The answer is no. Spectacular new energy technologies were developed right along with other breakthroughs. Since then, multiple methods for producing vast amounts of energy at extremely low cost have been developed. None of these technologies have made it to the open consumer market, however. Why this is true will be discussed shortly. First, here is a short list of new energy technologies. The common feature connecting all of these discoveries is that they use a small amount of one form of energy to control or release a large amount of a different kind of energy. Radiant Energy. Nikola Tesla's Magnifying Transmitter, T. Henry Moray's Radiant Energy Device, Edwin Gray's EMA Motor, and Paul Baumann's Testatika Machine all run on Radiant Energy. This natural energy can perform the same wonders as ordinary electricity at less than 1% of the cost. It does not behave exactly like electricity, however, which has contributed to the scientific community's misunderstanding of it. The Methernitha Community in Switzerland currently has 5 or 6 working models of fuelless, self-running devices that tap this energy. [More] Permanent Magnets. Dr. Tom Bearden has two working models of a permanent magnet powered electrical transformer. It uses a 6-watt electrical input to control the path of a magnetic field coming out of a permanent magnet. By channeling the magnetic field, first to one output coil and then a second repeatedly and rapidly, the device can produce a 96-watt electrical output with no moving parts. Multiple inventors have working mechanisms that produce torque from permanent magnets alone. [More] Super-Efficient Electrolysis. Water can be broken into hydrogen and oxygen using electricity. When water is hit with its own molecular resonant frequency, it collapses into hydrogen and oxygen gas with little electrical input. Hydrogen fuel can drive engines (like in your car) for the cost of water. [More] Cold Fusion. Though initial claims were debunked, cold fusion is very real. Not only has excess heat production been repeatedly documented, but also low energy atomic element transmutation has been catalogued, involving dozens of different reactions! [More] There are dozens of other systems. Many are viable and well tested. But this short list is sufficient to make the point: new energy technology is here. It offers the world pollution-free energy abundance for everyone, everywhere. It is now possible to stop the production of "greenhouse gases" and shut down the nuclear power plants. Transportation and production costs for just about everything can drop dramatically. Yet all these wonderful benefits that can make life on this planet so much easier and better for everyone have been postponed for decades. Why? Whose purposes are served by this postponement?Four Invisible Forces. There are four forces that have worked together to create this situation. The wealthiest families and their central banking institutions are the first force. Their motivations are greed and the need to control almost everything except themselves. Their plan is to eventually control all of the resources of the world, and thereby control everyone's life through the availability of all goods and services. An independent source of wealth (new energy device) in the hands of every person in the world ruins their plans for world domination. They don’t want any competition. The weapons they have used to enforce this include intimidation, "expert" debunkers, buying and shelving of technology, and murder of inventors. They have also promoted the scientific theory that states free energy is impossible (laws of thermodynamics).The second force is national governments. The problem here is related to the maintenance of national security. There is a constant jockeying for position and influence in world affairs, and the strongest party wins. In economics, it's the golden rule: "The one with the gold makes the rules." Unlimited energy on this planet will lead to an inevitable reshuffling of the balance of power. Everybody will want it, and at the same time, want to prevent everyone else from getting it. So, national governments’ motivations are self-preservation. Their weapons include preventing the issuance of patents based on national security grounds, harassment of inventors with criminal charges, tax audits, threats, phone taps, arson, theft, and a host of other intimidations which make the business of building and marketing a new energy machine practically impossible.The third force consists of deluded inventors and con men. On the periphery of the extraordinary scientific breakthroughs that constitute real new energy technologies, lies a shadow world of unexplained anomalies, marginal inventions and unscrupulous promoters. The first two forces have constantly used the media to promote the worst examples of this group, to distract the public's attention, and to discredit real breakthroughs by associating them with the frauds. So, the third force is delusion and dishonesty. The motivations are self-aggrandizement, greed, want of power over others, and a false sense of self-importance. The weapons used are lying, cheating, self-delusion and arrogance combined with bad science.The fourth force operating to postpone the public availability of new energy technology is all of the rest of us. It may be easy to see how narrow and selfish the motivations of the other forces are, but actually, these motivations are still very much alive in each of us as well. Like the wealthiest families, don't we each secretly harbor illusions of false superiority and want to control others instead of ourselves? Also, wouldn't you sell out if the price were high enough? Or like the governments, don't we each want to ensure our own survival? Or like the deluded inventor, don't we trade a comfortable illusion once in a while for an uncomfortable fact? Or don't we still fear the unknown, even if it promises a great reward?All four forces are just different aspects of the same process. There is really only one force preventing the availability of new energy technology, and that is unspiritually motivated behavior. New energy technology is an outward manifestation of divine abundance. It is the engine of the economy of an enlightened society, where people voluntarily behave in a respectful and civil manner toward each other. Unspiritualized humans cannot be trusted with new energy. They will only do what they have always done, which is to take merciless advantage of each other, or kill each other and themselves in the process.The Opportunity. What is new is that you and I can communicate with each other now better than at anytime in the past. The Internet offers us, the fourth force, an opportunity to overcome the combined efforts of the other forces preventing new energy technology from spreading. What is starting to happen is that inventors are publishing their work, instead of patenting it and keeping it secret. More and more, people are "giving away" information on these technologies in books, videos and websites. While there is still a great deal of useless information about new energy on the Internet, the availability of good information is rising rapidly.All of us constitute the fourth force. If we stand up and refuse to remain ignorant and action-less, we can change the course of history. Only mass action can create the world we want. The other three forces will not help us put a fuelless power plant in our homes. New energy technology will change everything about the way we live, work and relate to each other. It obsoletes greed and fear for survival. But like all exercises of spiritual faith, we must first manifest generosity and trust in our own lives.New energy technology is here. It has been here for decades. Communications technology and the Internet have torn the veil of secrecy off of this remarkable fact. People all over the world are starting to build new energy devices. The bankers and governments don’t want this to happen, but can’t stop it. Tremendous economic instabilities and wars will be used to distract people's attention from the new energy movement. There will be essentially no major media coverage of this aspect of what is going on.Western society is in many ways spiraling toward self-destruction due to the accumulated effects of greed and corruption. New energy technologies cannot stop this trend. If, however, you have a new energy device, you may be better positioned to support the transition that is underway. The question is, who will ultimately control the emerging world government, the first force, or the fourth force? Those who choose the fourth force may live to see the dawn of the world of new energy. I challenge you to be among the ones who do so.New Energy Sources was written by Peter Lindemann, D. Sc. and summarized and edited by Fred Burks
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$ Freedumb, Freedumb, Read All About It!"A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide? PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear'depending on how great the need for sustaining Life?
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence. The Solution:The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed"Corporism: The Systemic Disease that Destroys Civilization."when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival. Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans). As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
Madoff: One of Many Scammers?
As the Economy Tanks, More and More Ponzi Schemes Come to Light
By SCOTT MAYEROWITZ ABC NEWS Business Unit Jan. 22, 2009 — As America sinks deeper into recession, more and more investors apparently are learning that their savings are gone, not because of a down market, but because they were victims of a scam. Government investigators said they have seen millions of dollars disappear recently as Ponzi scams and other schemes come to light. These aren't of the scale of the $50 billion that Bernard Madoff is alleged to have lost, but hundreds of millions of dollars have vanished. Officials point to the cases of Arthur G. Nadel in Florida, Joseph S. Forte in Philadelphia and James Ossie in Atlanta as among the most notable allegations. Call them mini-Madoffs. "With the economic downturn that we are experiencing, Ponzi schemes are just crashing," said Stephen Obie, acting director of enforcement at the Commodity Futures Trading Commission. Officials say it doesn't necessarily mean more scams are occurring, it just means that more are being exposed as scams. The commission said the number of tips to the agency has doubled since July. In the last 12 months, it has filed 15 cases and Obie expects that to rise by 25 percent in the coming months. "These schemes rely on new people to be found and people aren't investing. People are hurting. And because people are hurting, they are seeking redemptions from what they think are these legitimate schemes," Obie said. "Between not having new investors and having old investors redeem, the Ponzi schemes are just collapsing." The most recent case to come to light involves Nadel, a Florida hedge fund manager who has been missing for more than a week and was charged Wednesday with misleading investors. After the 76-year-old Sarasota-based manager's disappearance, hundreds of investors learned that $300 million of their money was gone, too. Nadel left a suicide note at his home in which he described "extreme guilt" over losing other people's money. However, his car was found at a Sarasota airport and officials believe he planned his disappearance. The Securities and Exchange Commission said Nadel recently transferred at least $1.25 million to secret bank accounts that he controlled. It is quite a downfall for a man named "America's Top Ranked Money Manager" in 2003 by The Wall Street Digest, an investment newsletter. "The community is very shocked, obviously," said Gordon Garrett, a friend of Nadel's and president of the Jazz Club of Sarasota. "Art and his wife Peg have been very prominent members of our community, very involved with the arts." Garrett didn't have any money invested with Nadel's company, Scoop Management, but his group does not need to cancel eight concerts that Nadel had promised to sponsor. Things are a little bit more grim at the local YMCA. Neil Moody, who was a general partner in some of Scoop Management's funds, donated $1.12 million to the YMCA Foundation of Sarasota. That money makes up about 13 percent of the group's $8.6 million endowment. Moody's first gift came in 2005 and he insisted that it be invested with one of Nadel's funds, Valhalla Management. "The fund did not meet our investment guidelines, so he made a personal guarantee that it have a return of 10 percent, per annum," foundation president Karin Gustafson said. "He believed that that fund could outperform any other funds that were being managed for us." Tony Souza, executive director of Habitat for Humanity, Sarasota, said the Nadels were strong supporters of charities in the area. Peg Nadel has been chair of Habitat's capital campaign for the last year and a half. "They have provided a lot of money to many of the bigger nonprofit corporations in Sarasota," Souza said. "Of course, this is a total shock to all of us. A total shock. Everyone considered them to be great philanthropists in the community. They've been around for a while. "There are many, many black tie events and fundraisers here in Sarasota, and you would always see them very prominently there," Souza added. "They were involved right across the board." The couple had their own nonprofit foundation, the Guy-Nadel Foundation, which gave thousands of dollars to various charities, according to its tax records. In 2006, the most recent tax filing, the couple gave $112,000 to the Sarasota Opera, $4,000 for animal shelters, $150,000 to youth social agencies, $135,000 to a theater company and $144,800 to various churches for everything from a youth bus to general charity. Brad Garrett, a former FBI agent and ABC News consultant, said the discussions about Madoff could have helped bring other scams to light. "It doesn't mean there are more of them. It just means that people are talking about them more. People are coming forward. People are complaining that they lost money," Garrett said. "One of the problems is people are embarrassed sometimes that they got caught up in these things and they end up not reporting them, particularly if it's not a huge amount of money." Garrett said such scams will exist regardless of the economy. "Ponzi schemes attract people because they give them an outrageous percentage" return on investments, he said. "There will always be a percentage of us that will do that because there's that too-good-to-be-true thing. And we're hoping that it's too good to be true." In the past two weeks, two other Ponzi schemes have been prosecuted by federal authorities. Forte is alleged to have scammed $50 million out of investors in the Philadelphia area. "Forte engaged in lies, deception and rapacious behavior at the expense of innocent investors, many of whom considered themselves his friends and close acquaintances," said Daniel M. Hawke, director of the SEC's Philadelphia regional office, in a statement. "Using other people's money, Forte promised and reported outrageous returns over more than a 10-year period, and because of his relationships with investors, was able to lull them into trusting him with their funds." Starting in 1995, Forte allegedly reported to investors annual returns ranging from 18.52 percent to as high as 37.96 percent. But such returns were just an illusion. From January 1998 through October 2008, the trading account had roughly $3.3 million in losses. Then just last week, Ossie of Atlanta and his company CRE Capital Corporation were charged with operating a Ponzi scheme involving more than 100 people. The scam involved about $25 million in foreign currency transactions. Ossie allegedly promised pool participants that they would earn a 10 percent return on their money within 30 days by trading United States and Japanese currency pairs. "Investors must run the other way when approached by anyone claiming to guarantee exorbitant monthly returns, like those promised by CRE and Ossie," the Commodity Futures Trading Commission's Obie said in a statement. "Such representations should raise an immediate red flag that such investment is too good to be true." 2009 ABC News Internet Ventures
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$ Freedumb, Freedumb, Read All About It!"A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide? PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear'depending on how great the need for sustaining Life?
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence. The Solution:The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed"Corporism: The Systemic Disease that Destroys Civilization."when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival. Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans). As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
FREEDUMB, FREEDUMB READ ALL ABOUT IT – also read history: How lethal can obscene blind power and greed become? What Happened America? Who has all the money, Who is making all the decisions?Corporate golden greedy guts decision makers continue to be rewarded with more and more of taxpayer dollars, as the trickle up compensation has left the majority of working citizens at below slavery compensation (note that slaves worked and received both FOOD AND RENT/HOUSING)…..by the way, what were CD and Money Market rates in the 60’s?
Business Home » CBS Evening News Where Did The Bailout Billions Really Go? CBS Evening News Exclusive: Were Bank Bailout Winners And Losers Cherry-Picked? WASHINGTON, Jan. 12, 2009 by Sharyl Attkisson AP Corporate decision makers continue to be rewarded with more and more of taxpayer dollars. Chrysler Finance Arm Gets $1.5B Loan Automaker Announces 0% Financing; GMAC Also Loosens Lending Standards After Receiving Treasury Funds
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$
Freedumb, Freedumb, Read All About It!"A Free Trade, Free Market, Free Corporate, Unregulated Economy run like Al Capone's Casino Joint, and Policed by Al Capone". Is this the best University MBA/PHD Masters and Government Regulators can provide? PEOPLES LIVES DEPEND UPON THE ECONOMIC SYSTEM. The economic system is not singularly a tool for profit, and the hell with Life. "We now have to pay for the greed and recklessness of those who should have known better.” It is time, Mr. Schumer said, for the American economy to be revived as the “engine of prosperity,” rather than as a “casino” for high-rollers in the realm of finance.
How, in a world of exploding human population, with unparalleled needs, wants and desires, can the economy keep falling, with more and more working people around the world, poorer, lacking basic needs and going hungry... this can only be termed Freakohnomics: The new 21st Century Supply & Demand Economics - absolute greed, absolute power brings on absolute madness - Turns into Freakohnomics gone berserk. Or mafia economics by deliberate Design - the greater the need, the higher the price for all commodities required to sustain Life. The Outcome, economic strangulation and workaholic enslavement of a people was not designed by the lord thy God, nor (for the non-believer) is it a Natural or Nature's Law, nor a Scientific Law
What factors changed Market Supply & Demand Fundamentals to Freakohnomics gone berserk? From cheaper goods and services available to all through continual advances in science, technology and mass production, to 'Whatever The Market Will Bear'depending on how great the need for sustaining Life?
The Deadly Dangers of a Mis-informed, Dis-informed & Un-informed Population, Ultimately to Itself, History Provides Ample Evidence. The Solution:The Promise of New Energy Systems & Beyond Oil
Evaporates the Problem: The ill designed"Corporism: The Systemic Disease that Destroys Civilization."when devoid of a Bill of Rights for Human Life, devoid of scientific parameters necessary for Life's evolution, sustainability, and survival. Mild shock and disbelief barely registered in the nation of the most productive, overworked, underpaid, underinsured, vacation deprived, low paid slave/workers in the world, as they watched their bridges fall down along with their retirement savings in equity & stocks, while their taxes, gas, energy and food costs continued skyrocketing to uncharted realms and many continue to lose their homes and go hungry; as the masses stagnated in unmovable traffic, and government departments threatened to close due to lack of funds - On the bright side, the worldwide corporate 2% greedy guts, individually, had aplenty, more wealth than 30 nations combined, apiece.... irrelevant to who is paying for their errors (as in subprime loans). As common sense in science is lost with the continued stagnation of our energy base and deep troubling theoretical foundational issues in physics, so too, Civilization's Survival Parameters fly out of sight, out of mind, along with the values and morals inherent within new scientific understanding which new energy systems would reveal. Scientific Stagnation bodes an ill wind to evolution, sustainability, and survival as "cycles of humiliation, dumbing us down, violence, and Unrestrained Corporate Greed prompting resource wars with nuclear finality" join hands with global warming and ecological imbalance to precipitate the historical "rise and fall of civilization" - a Tsunami accelerating toward us with a far more spectacular event than the legends and myths of 'Atlantis and Lemuria"........ had more people known that Energy from Corn (or going backwards to a dimwitted concept of radioactive nuclear power application ) sounded a wee bit kindergartenish and senile for the twenty first century......the Future may have had a chance.
Did Speculation Fuel Oil Price Swings? Jan. 11, 2009 (CBS) About the only economic break most Americans have gotten in the last six months has been the drastic drop in the price of oil, which has fallen even more precipitously than it rose. In a year's time, a commodity that was theoretically priced according to supply and demand doubled from $69 a barrel to nearly $150, and then, in a period of just three months, crashed along with the stock market. So what happened? It's a complicated question, and there are lots of theories. But as correspondent Steve Kroft reports, many people believe it was a speculative bubble, not unlike the one that caused the housing crisis, and that it had more to do with traders and speculators on Wall Street than with oil company executives or sheiks in Saudi Arabia. To understand what happened to the price of oil, you first have to understand the way it's traded. For years it has been bought and sold on something called the commodities futures market. At the New York Mercantile Exchange, it's traded alongside cotton and coffee, copper and steel by brokers who buy and sell contracts to deliver those goods at a certain price at some date in the future. It was created so that farmers could gauge what their unharvested crops would be worth months in advance, so that factories could lock in the best price for raw materials, and airlines could manage their fuel costs. But more than a year ago those markets started to behave erratically. And when oil doubled to more than $147 a barrel, no one was more suspicious than Dan Gilligan. As the president of the Petroleum Marketers Association, he represents more than 8,000 retail and wholesale suppliers, everyone from home heating oil companies to gas station owners. When 60 Minutes talked to him last summer, his members were getting blamed for gouging the public, even though their costs had also gone through the roof. He told Kroft the problem was in the commodities markets, which had been invaded by a new breed of investor. "Approximately 60 to 70 percent of the oil contracts in the futures markets are now held by speculative entities. Not by companies that need oil, not by the airlines, not by the oil companies. But by investors that are looking to make money from their speculative positions," Gilligan explained. Gilligan said these investors don't actually take delivery of the oil. "All they do is buy the paper, and hope that they can sell it for more than they paid for it. Before they have to take delivery." "They're trying to make money on the market for oil?" Kroft asked. "Absolutely," Gilligan replied. "On the volatility that exists in the market. They make it going up and down." He says his members in the home heating oil business, like Sean Cota of Bellows Falls, Vt., were the first to notice the effects a few years ago when prices seemed to disconnect from the basic fundamentals of supply and demand. Cota says there was plenty of product at the supply terminals, but the prices kept going up and up. "We've had three price changes during the day where we pick up products, actually don't know what we paid for it and we'll go out and we'll sell that to the retail customer guessing at what the price was," Cota remembered. "The volatility is being driven by the huge amounts of money and the huge amounts of leverage that is going in to these markets." About the same time, hedge fund manager Michael Masters reached the same conclusion. Masters' expertise is in tracking the flow of investments into and out of financial markets and he noticed huge amounts of money leaving stocks for commodities and oil futures, most of it going into index funds, betting the price of oil was going to go up. Asked who was buying this "paper oil," Masters told Kroft, "The California pension fund. Harvard Endowment. Lots of large institutional investors. And, by the way, other investors, hedge funds, Wall Street trading desks were following right behind them, putting money - sovereign wealth funds were putting money in the futures markets as well. So you had all these investors putting money in the futures markets. And that was driving the price up." In a five year period, Masters said the amount of money institutional investors, hedge funds, and the big Wall Street banks had placed in the commodities markets went from $13 billion to $300 billion. Last year, 27 barrels of crude were being traded every day on the New York Mercantile Exchange for every one barrel of oil that was actually being consumed in the United States. "We talked to the largest physical trader of crude oil. And they told us that compared to the size of the investment inflows - and remember, this is the largest physical crude oil trader in the United States - they said that we are basically a flea on an elephant, that that's how big these flows were," Masters remembered. Yet when Congress began holding hearings last summer and asked Wall Street banker Lawrence Eagles of J.P. Morgan what role excessive speculation played in rising oil prices, the answer was little to none. "We believe that high energy prices are fundamentally a result of supply and demand," he said in his testimony. As it turns out, not even J.P. Morgan's chief global investment officer agreed with him. The same that day Eagles testified, an e-mail went out to clients saying "an enormous amount of speculation" ran up the price" and "140 dollars in July was ridiculous." If anyone had any doubts, they were dispelled a few days after that hearing when the price of oil jumped $25 in a single day. That day was Sept. 22. Michael Greenberger, a former director of trading for the U.S. Commodity Futures Trading Commission, the federal agency that oversees oil futures, says there were no supply disruptions that could have justified such a big increase. "Did China and India suddenly have gigantic needs for new oil products in a single day? No. Everybody agrees supply-demand could not drive the price up $25, which was a record increase in the price of oil. The price of oil went from somewhere in the 60s to $147 in less than a year. And we were being told, on that run-up, 'It's supply-demand, supply-demand, supply-demand,'" Greenberger said. A recent report out of MIT, analyzing world oil production and consumption, also concluded that the basic fundamentals of supply and demand could not have been responsible for last year's run-up in oil prices. And Michael Masters says the U.S. Department of Energy's own statistics show that if the markets had been working properly, the price of oil should have been going down, not up. "From quarter four of '07 until the second quarter of '08 the EIA, the Energy Information Administration, said that supply went up, worldwide supply went up. And worldwide demand went down. So you have supply going up and demand going down, which generally means the price is going down," Masters told Kroft. "And this was the period of the spike," Kroft noted. "This was the period of the spike," Masters agreed. "So you had the largest price increase in history during a time when actual demand was going down and actual supply was going up during the same period. However, the only thing that makes sense that lifted the price was investor demand." Masters believes the investor demand for commodities, and oil futures in particular, was created on Wall Street by hedge funds and the big Wall Street investment banks like Morgan Stanley, Goldman Sachs, Barclays, and J.P. Morgan, who made billions investing hundreds of billions of dollars of their clients’ money. "The investment banks facilitated it," Masters said. "You know, they found folks to write papers espousing the benefits of investing in commodities. And then they promoted commodities as a, quote/unquote, 'asset class.' Like, you could invest in commodities just like you could in stocks or bonds or anything else, like they were suitable for long-term investment." Dan Gilligan of the Petroleum Marketers Association agreed. "Are you saying that companies like Goldman Sachs and Morgan Stanley and Barclays have as much to do with the price of oil going up as Exxon? Or…Shell?" Kroft asked. "Yes," Gilligan said. "I tease people sometimes that, you know, people say, 'Well, who's the largest oil company in America?' And they'll always say, 'Well, Exxon Mobil or Chevron, or BP.' But I'll say, 'No. Morgan Stanley.'" Morgan Stanley isn't an oil company in the traditional sense of the word - it doesn't own or control oil wells or refineries, or gas stations. But according to documents filed with the Securities and Exchange Commission, Morgan Stanley is a significant player in the wholesale market through various entities controlled by the corporation. It not only buys and sells the physical product through subsidiaries and companies that it controls, Morgan Stanley has the capacity to store and hold 20 million barrels. For example, some storage tanks in New Haven, Conn. hold Morgan Stanley heating oil bound for homes in New England, where it controls nearly 15 percent of the market. The Wall Street bank Goldman Sachs also has huge stakes in companies that own a refinery in Coffeyville, Kan., and control 43,000 miles of pipeline and more than 150 storage terminals. And analysts at both investment banks contributed to the oil frenzy that drove prices to record highs: Goldman's top oil analyst predicted last March that the price of a barrel was going to $200; Morgan Stanley predicted $150 a barrel. Both companies declined 60 Minutes' requests for an interview, but maintain that their oil businesses are completely separate from their trading activities, and that neither influence the independent opinions of their analysts. There is no evidence that either company has done anything illegal. Asked if there is price manipulation going on, Dan Gilligan told Kroft, "I can't say. And the reason I can't say it, is because nobody knows. Our federal regulators don't have access to the data. They don't know who holds what positions." "Why don't they know?" Kroft asked. "Because federal law doesn't give them the jurisdiction to find out," Gilligan said. It's impossible to tell exactly who was buying and selling all those oil contracts because most of the trading is now conducted in secret, with no public scrutiny or government oversight. Over time, the big Wall Street banks were allowed to buy and sell as many oil contracts as they wanted for their clients, circumventing regulations intended to limit speculation. And in 2000, Congress effectively deregulated the futures market, granting exemptions for complicated derivative investments called oil swaps, as well as electronic trading on private exchanges. "Who was responsible for deregulating the oil future market?" Kroft asked Michael Greenberger. "You'd have to say Enron," he replied. "This was something they desperately wanted, and they got." Greenberger, who wanted more regulation while he was at the Commodity Futures Trading Commission, not less, says it all happened when Enron was the seventh largest corporation in the United States. "This was when Enron was riding high. And what Enron wanted, Enron got." Asked why they wanted a deregulated market in oil futures, Greenberger said, "Because they wanted to establish their own little energy futures exchange through computerized trading. They knew that if they could get this trading engine established without the controls that had been placed on speculators, they would have the ability to drive the price of energy products in any way they wanted to take it." "When Enron failed, we learned that Enron, and its conspirators who used their trading engine, were able to drive the price of electricity up, some say, by as much as 300 percent on the West Coast," he added. "Is the same thing going on right now in the oil business?" Kroft asked. "Every Enron trader, who knew how to do these manipulations, became the most valuable employee on Wall Street," Greenberger said. But some of them may now be looking for work. The oil bubble began to deflate early last fall when Congress threatened new regulations and federal agencies announced they were beginning major investigations. It finally popped with the bankruptcy of Lehman Brothers and the near collapse of AIG, who were both heavily invested in the oil markets. With hedge funds and investment houses facing margin calls, the speculators headed for the exits. "From July 15th until the end of November, roughly $70 billion came out of commodities futures from these index funds," Masters explained. "In fact, gasoline demand went down by roughly five percent over that same period of time. Yet the price of crude oil dropped more than $100 a barrel. It dropped 75 percent." Asked how he explains that, Masters said, "By looking at investors, that's the only way you can explain it." The regulatory lapses in the commodities market that many believe fomented the rampant speculation in oil have still not been addressed, although the incoming Obama administration has promised to do so.
U.S. Oil Addiction Is Here To Stay Due To Lack Of Alternatives
Dr. Shelby Brewer, former CEO of ABB Combustion Engineering and Assistant Secretary of Energy during the Reagan Administration called today's announcement remarkable. "In my nearly 50 years in and around the energy business, I've yet to see a breakthrough as promising as this one. When I was studying to become a nuclear engineer in the 1960s, I never imagined I would see a day like today." Brewer, a current board member of BlackLight Power, added "This breakthrough was entirely supported by private capital with no government investment."
REPEAT: Two issues dwarfing all others, without whose resolution, nothing will change! Bring freedom back to energy science + redefine Corporism, corporate personhood, the current controller of science direction through university funding $$$$$$$$
