Sunday, February 2, 2014
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Monday, August 2, 2010
Chicken McNuggets Contain Disturbing Additives
In response to reports that the ingredients may pose health risks, McDonald's China claims that additives in its chicken McNuggets are "harmless".
They said that the use of tertiary butylhydroquinone meets Chinese food safety standards. However, "the chemical is toxic to some extent," according to Liu Qingchun, a nutritionist at the General Hospital of Armed Police Forces.
Bloomberg reports:
"McNuggets served in the U.S. also contain tertiary butylhydroquinone, a petroleum-based product, and dimethylpolysiloxane, an anti-foaming agent used in cosmetics and other goods.
McDonald's Holdings Co. Japan also serves chicken with the additives".
http://articles.mercola.com/sites/articles/archive/2010/07/24/chicken-mcnuggets-sold-in-china-have-disturbing-additives.aspx
Tuesday, July 27, 2010
7 Secret Ways We Are Being Poisoned
Activist Post
The objectivism of the scientific method seems to have been hijacked by corporations who often pay for scientists to support their products, as well as politicians who move through the revolving door between the private and public sector. Even worse is that sometimes the consumer protection agencies themselves are complicit.
The trust placed by consumers in scientific studies and Federal oversight committees has been violated in service to profit so that products are allowed to enter the marketplace with reduced safety standards. The synthetic chemicals we encounter on a daily basis in our food, water, and environment are increasingly shown to be disastrous to our physical and mental well-being. Volumes can be written -- indeed have been written -- by experts in both mainstream and alternative medicine who have documented the sleight of hand used to hoodwink consumers and threaten our health. The categories below are worth deeper investigation as prime examples of what we might face as a species if this chemical bombardment continues.
* GMO foods -- Monsanto started as a chemical company that brought the world poisons like Agent Orange and Roundup. Now they are more well known for their domination of Genetically Modified agriculture, owning nearly 90% of staple GMO crops such as corn, soy, and cotton. In independent studies GMO "frankenfood" has been linked to organ failure, and a recent Russian study has concluded near-total sterility in GMO-soy-fed hamsters by the third generation. Despite these and many other legitimate health concerns, it is unlikely that the Monsanto-controlled FDA will curb the growth of GMO foods, while the USDA's biotechnology risk assessment research arm has a paltry $3 million at its disposal. Of course the industry-funded studies show that the effects GMO on human health are "negligible."
* Food additives -- When most of us think of harmful food additives we think of Monosodium Glutamate (MSG) which is still in many processed foods, but unfortunately MSG appears to be the least of the poisons now found in our food. In 2008 Melamine was found in infant formula and some food products from China; the FDA went on record to say it was OK, despite sickening tens of thousands. Dangerous food additives appear in nearly all processed foods with even the most common food dyes Red 40, Yellow 5 and Yellow 6 being linked to cancer. Most recently 92,000 pounds of frozen chicken was recalled because it contained "blue plastic pieces," while McDonald's Chicken McNuggets have been found to have "silly putty" chemicals in them. In fact, some researchers estimate that today's chicken is so full of chemicals that it only contains 51% actual meat.
* Fluoride -- Not all fluoride is bad; only the type promoted by dentistry and added to our water and food supply. Calcium fluoride is a naturally occurring mineral, while its synthetic counterpart, sodium fluoride (silicofluoride), is an industrial-grade hazardous waste material made during the production of fertilizer. It's past history includes patented use as rat poison and insecticide. There are many blind- and double-blind studies that show sodium fluoride has a cumulative effect on the human body leading to allergies, gastrointestinal disorders, bone weakening, cancer, and neurological problems. In this case, the EPA's Union of scientists issued a white paper condemning fluoridation of drinking water. However, as a hazardous waste, it is extremely expensive to dispose of as such. And here might be a clue as to why this chemical, more toxic than lead and almost on par with arsenic, has been disposed of for our consumption.
* Mercury -- A dangerous heavy metal in its natural quicksilver form, but more so as the neurotoxin, methylmercury, released into the environment by human activity. In both organic and inorganic form, mercury wreaks havoc with the nervous system -- especially the developing nervous system of a fetus. It penetrates all living cells of the human body, and has been documented most as increasing the risk for autism. This calls into question mercury's use in dental fillings, vaccines, and just about anything containing high fructose corn syrup -- a near staple in the American diet . . . including baby food. But the Corn Refiners Association naturally supports this chemical that is "dangerous at any level."
* Aspartame -- The king of artificial sweeteners was allowed to the market in 1981 when the U.S. Commissioner of Food and Drugs, Arthur Hull Hayes, overruled FDA panel suggestions, as well as consumer concerns. Aspartame is a neurotoxin that interacts with natural organisms, as well as synthetic medications, producing a wide range of proven disorders and syndromes. So who installed this commissioner that would rule against scientists and the public? Donald Rumsfeld, CEO of G.D. Searle; the maker of Aspartame. Rumsfeld was on Reagan's transition team, and the day after Reagan took office he appointed the new FDA Commissioner in order to "call in his markers" with one of the most egregious cases of profit-over-safety ever recorded. Aspartame is now nearly ubiquitous, moving beyond sugarless products and into general foods, beverages, pharmaceuticals, and even products for children. It recently has been renamed to the more pleasant sounding AminoSweet.
* Personal care and cleaning products -- Everyday household items and cosmetic products are applied directly to the skin, absorbed through the scalp, and inhaled. The Story of Cosmetics uses an animated video to tell a haunting tale of industrial violations and complicit "public safety" groups . . . and still only tells half of that story. The list of common products and their chemical components is encyclopedic. The sum total of the overwhelming presence of these chemicals has been linked to nearly every allergy, chronic affliction, and disease known to man. Most recently, household cleaning products have been linked to breast cancer and ADHD in children.
* Airborne pollutants -- In a NASA article titled "Airborne Pollutants Know No Borders" they stated that, "Any substance introduced into the atmosphere has the potential to circle the Earth." The jet stream indeed connects all of us. There is one category of airborne pollution that has been conspiracy theory despite a voluminous number of unclassified documents from 1977 Senate hearings: chemical spraying (chemtrails) by both private and commercial aircraft. Recent admissions by public officials strengthen the case. Fallout from these chemical trails has been tested and shows very high levels of barium and aluminum. Interesting to note that Monsanto announced that they recently developed an aluminum-resistant gene to be introduced. Chemtrails might seem like abject paranoia, but there is a current example of chemical spraying that is undeniable: the spraying of Corexit oil dispersant over the Gulf. This process of aerial application can be likened to crop-dusting, which we know has been going on for nearly 100 years. Wars abroad even seem to be affecting global air quality, as military munitions such as depleted uranium have entered the upper atmosphere, spreading around the planet. The observable effects of depleted uranium are not pleasant. Airborne pollutants have been linked to allergies, genetic mutations, and infertility.
This is all leading to scientific, governmental, and medical management of the health and rights of the individual. It is ironic (or coincidental) that when one becomes sick due to the unnatural products listed above, the mainstream medical establishment aims to treat the afflictions with more unnatural chemicals. Furthermore, some of the people at high levels of American government and academia such as John P. Holdren, the current White House Science Czar, have advocated population control via "pollution particles" as far back as 1977 in books such as Ecoscience. Holdren's views of humanity could make one question the intentionality of the poisons in our environment.
http://www.activistpost.com/2010/07/7-secret-ways-we-are-being-poisoned.html
Monday, July 19, 2010
Europe freezes out Goldman Sachs
European governments are turning their backs on Goldman Sachs, the all-conquering investment bank that has suffered a series of blows to its reputation, capped by the biggest ever fine imposed on a Wall Street firm.
According to data from Dealogic, Greece, Spain, France and Italy have all denied the bank a lead role in their recent sovereign bond sales.
Last Thursday, Goldman agreed to pay a $550m fine to settle US regulators' claims that the bank misled investors in a mortgage-backed security. Goldman admitted that its marketing materials were incomplete, because they failed to state that the same third party that helped choose the assets had taken a bet against them.
But governments have also been shocked at the emergence of past transactions between Goldman and Greece and Italy, where products the bank helped to sell aided both in hiding government debt. Greece, which used Goldman in a bond sale this year, is practically at war with the bank. A sharp contrast with the situation months before, when Goldman bankers dined with the prime minister in a private meeting overlooking the Acropolis. The relationship broke down, though, after news leaked earlier this year that Goldman was about to strike a bond sale deal with China's sovereign fund – which never materialised.
Spain, which used Goldman among its top 10 bookrunners last year, has not done so in 2010, while Italy has not given the bank a leading role since 2007. France has not used Goldman in any lead position over the past three years, and it seems doubtful that it will do so in the near future. "French people would riot in the streets if we chose Goldman," said a person familiar with the French treasury.
The French government has said it will only use banks that cap management and traders' bonuses. This year, Goldman limited the pay and bonus compensation to its London partners at £1m, though other bankers and traders can receive much more, provided they are not partners. Goldman has also been criticised of for taking short positions, or betting on a price fall, against some European sovereign bonds – after taking part in a bond sale, a person involved in sovereign debt sales said. The bank says it has presence in the European sovereign bank market and that it has recently participated in deals in Britain, Portugal and Belgium.
Countries such as Spain and France have also shied away from Goldman because their traditionally conservative treasury departments prefer to steer clear of risky investments. The French treasury, for instance, only issues debt in euros, staying away, like Spain, from the complex foreign exchange or swap deals that brought trouble to Greece and Italy. "The Spanish treasury can't justify in parliament why, if things go wrong, they have a multimillion-euro position in Indian rupees, for example," a sovereign bond banker said.
Governments also stick to plain-vanilla deals, with little complexity, in order to keep their prized AAA rating, reducing their borrowing costs as much as possible, a source familiar with the French Tresor said.
IKB, the failed bank bailed out by the German government, recently considered suing Goldman because of its exposure to the structured products sold by the US bank. Following the settlement between Goldman and the SEC, the US securities regulator, last week, IKB said the German lender was "reviewing the settlement documents".
Germany has only made one syndicated bond sale in the last three years, in 2009, when it appointed Deutsche Bank, Citibank, HSBC and BofA-Merrill Lynch as lead managers.
http://www.guardian.co.uk/business/2010/jul/18/goldman-sachs-europe-sovereign-bond-sales?intcmp=239
Saturday, June 26, 2010
Sunday, June 13, 2010
Wall Street Operative Geithner Rebuffed in Berlin on Mission to Make World Safe for Derivatives
Webster G. Tarpley
TARPLEY.net
May 28, 2010
On the most important stop of last week’s desperate mission to make the world safe for derivatives, US Treasury Secretary Geithner has been dealt a decisive rebuff. Geithner’s obvious attempt to sabotage the recent prohibition enacted by the German government against naked credit default swaps (among the most toxic of derivatives) was rejected in Berlin on Thursday by German Finance Minister Wolfgang Schäuble.
At their joint press conference, Geithner and Schäuble could hardly hide the atmosphere of tension and hostility, even though both were determined to mask the clash for domestic political reasons. A Handelsblatt blog pointed to the language of mutual dislike, and this newspaper headlined that the transatlantic conflict was escalating. The Washington Post published a photograph on Friday, May 28, 2010 showing the German minister scowling at the feckless featherweight Geithner. Geithner assured the journalists that there was a “broad agreement on regulatory reform,” but in reality there was no such common ground.
Schäuble has now emerged as the strongman Continue reading Wall Street Operative Geithner Rebuffed in Berlin on Mission to Make World Safe for Derivatives
http://tarpley.net/2010/05/29/geithner-rebuffed-in-berlin/
Monday, May 17, 2010
Seize and Liquidate Goldman Sachs
Webster G. Tarpley
TARPLEY.net
April 27, 2010
Today’s Senate hearings, carried on CNBC, Bloomberg, and C-SPAN, represent the first major exposure of the American people to the scandalous frauds of the derivatives casino, including synthetic collateralized debt obligations (synthetic CDOs or CDO²). These are things most people have heard very little about. They begin to open up the shocking reality behind such shopworn euphemisms like “toxic assets,” “exotic instruments,” and “troubled assets.” Reactionaries in general and Republicans in particular have done everything possible to hide the role of derivatives, which must be considered the main cause of the financial panic of September 2008 which brought down Lehman Brothers, Merrill Lynch, and AIG, after felling Bear Stearns in March of the same year. The reactionary legend, repeated yesterday on the Senate floor by financier minion GOP Sen. Gregg of New Hampshire, is that the crisis was caused by poor people taking out subprime mortgages and then defaulting, bringing down the entire Anglo-American banking system and triggering the bailouts. Either that, or too much government spending was too blame.
A mass of kited derivatives blew up in September 2008
This Big Lie has come from such propaganda sources as the Limbaugh Institute of Retarded Reactionary Ranting. But the $1.5 trillion in subprime mortgages were dwarfed by the $15 trillion US residential real estate market, to say nothing of the $1.5 thousand trillion world derivatives bubble. But, starting with Bush-Goldman Sachs Treasury Secretary Henry Paulson, the talk has been of a “housing correction,” not a derivatives panic. It must be pointed out that derivatives are nothing but wagers, bets placed from a distance on securities which themselves are often not mortgages, but rather other derivatives. The bettor buying a synthetic CDO or CDO² does not own the underlying mortgages or mortgage-backed securities, any more than someone who bets on a racehorse owns part of the horse. Blankfein and others tried to portray derivatives as a service to hedgers and end-users, but it’s clear that the vast majority of derivatives involve neither hedgers nor users, but only bettors on both side of the transaction. It is in any case this mass of kited derivatives which blew up in 2008, bringing on the present world economic depression.
Goldman Sachs executives are babbling cretins
The mystique of Goldman Sachs is based in large part on their reputation as the smartest financiers on Wall Street. After today’s hearings, this mystique has permanently dissipated. The Goldman executives babbled. They sounded dumb. They stalled and stammered and went into contortions to avoid giving straight answers to simple questions. They were mendacious and evasive when they did speak. Financial powers around the world will note carefully the refusal of three out of four Goldman executives on one panel to state that they had a duty to defend the interests of their clients. Who will want to do business with such a gang? Goldman Sachs got $10 billion of taxpayer money in low-interest loans under the Bush-Paulson TARP. Part of that money went to pay for obscene bonuses for Goldman executives like the ones on display today. The argument for bonuses is that they must be paid to retain the highly talented personnel, virtual geniuses, who are indispensable for Wall Street speculative success. But these are no geniuses, they are imbeciles. No more bonuses should be paid by banks saved through public money.
Don’t buy any used cars from Lloyd Blankfein
Sleaziest of all was Goldman’s risk-monger in chief, Lloyd Blankfein, who pretended not to know that derivatives are often kept hidden off balance sheet. The morally insane Blankfein testified that his role was to provide the firm’s clients with “the risk they wanted.” Other GS witnesses represented the firm’s role as “distributing risk.” But it turned out that they were manufacturing risk through the very existence and activities of Goldman Sachs, which had the result of pyramiding the total risk of the US financial system into intergalactic space. It is time to regulate much of that unbearable risk out of existence with appropriate regulatory legislation. In the meantime, no sane person would buy a used car from Blankfein. Nor should they believe his assurance that the “recession” has ended.
But when at the end of the day Blankfein finally suggested to Sen. Tester that synthetic CDOs might be outlawed, we should accept his proposal immediately.
Today’s hearings reveal the Goldman Sachs gunslingers and whiz kids as ignorant gangsters and con artists, notable only for their ability to practice massive fraud with impudence. These sleazy mediocrities do not deserve bonuses paid for by taxpayers. Rather, it is time to shut them down and put them in the dock.
If Goldman Sachs had cared about is clients, it would have urgently warned them to unload their subprime risk by late 2006 or thereabouts. Instead, Goldman was busily increasing its clients’ risk by selling them more toxic CDOs out of its own inventory warehouse.
Goldman Sachs: bookies who stack the deck and fix the games
As the philandering Sen. Ensign pointed out, comparing Wall Street to Las Vegas is a slander on the croupiers of Las Vegas, where everyone knows or should know that the game is rigged so that the house always wins. To use the comparison introduced by Sen. McCaskill, Goldman Sachs was operating as the gambling house, or the bookie. At the same time, Goldman was betting for their own account. But much worse was the fact that Goldman was stacking the decks, loading the dice, fixing the games on which the bets were placed, and bribing the umpires.
As Ensign put it in a rare moment of lucidity, the subprime mortgage was bad. But the collapse of subprime would not have had anything like its actual destructive effect on the US economy if it had not been compounded by the mass of synthetic derivatives that were piled on top of subprime.
No national or social purpose served by Goldman Sachs and toxic derivatives bets
The broader issue raised by today’s hearing is: what human purpose is served by the existence of Goldman Sachs, which concocts toxic synthetic CDOs for the purpose of allowing speculators, who are often lied to and duped, to bet for or against them. Goldman Sachs can only be described as a speculative parasite which promotes the activities of other speculative parasites, such as the John Paulson hedge fund at the expense of the public and of its other clients. It was a crime to inject $10 billion of Treasury money into Goldman Sachs. It was another crime for the Fed to lend Goldman untold billions (just how many billions Bernanke still refuses to disclose) to keep them afloat and enable more predatory profits. These crimes must stop, and the public money must be clawed back. Most important, it is time to shut down the derivatives rackets.
Goldman got $12.5 billion from taxpayers for AIG credit default swaps
Useful questions from GOP Sen. Coburn pointed to another kind of derivative: the infamous credit default swap (CDS). These CDS are what brought down AIG, whose London hedge fund had issues $3 trillion in derivatives. When the government bailed out AIG, part of that $180 billion of taxpayer money was used for payouts to the CDS counterparties of AIG, biggest among them Goldman, which got $12.5 billion from the US taxpayer. That was 100 cents on the dollar on a mass of toxic CDS. Coburn wanted to know why Goldman got all their money back, while GM bondholders took a bath as GM went bankrupt. That was, of course, a matter of Goldman’s political clout through GS alum Henry Paulson and Obama Car Czar Steve “The Rat” Rattner, backed up by the historic preponderance of finance capital over industrial capital in this country since Andrew Carnegie sold out to JP Morgan over a century ago.
Derivatives and zombie banks: the toll
Thanks to Goldman Sachs, the other Wall Street zombie banks, and their derivatives, the financial panic of 2008 has turned into a world economic depression of unimaginable proportions. The unemployed and underemployed in the US alone are surely in excess of 20 million. Five to six million home foreclosures are already done or in the pipeline, throwing tens of millions of Americans out of their homes. World trade has been seriously impacted. The budgets of California, New York, Illinois, and many other states are in crisis, with massive layoffs of teachers and other state employees. An entire generation is being destroyed. Now, Greek bonds are trading at junk levels under the attack of speculative predators including Soros, Greenlight Capital, SAC, and the protagonists of today’s hearings – Paulson and Co and Goldman Sachs itself. The attack on Greece and the euro represents the leading edge of the second wave of the depression, which is now arriving in much the same way that the second wave of the 1930s depression was unleashed by the Vienna Kreditanstalt bankruptcy in May of 1931, about 79 years ago and just a year and a half into that depression.
The goal of the Republicans is to portray themselves as stern judges of Wall Street, even as they line up in a unanimous phalanx to protect the finance jackals from any meaningful regulation whatsoever — as seen in yesterday’s vote to block cloture on derivatives re-regulation and reform. The goal of the Democrats is to expose the sociopathic evil of Goldman Sachs and the rest of Wall Street while preening themselves as defenders of the public interest, without however banning credit default swaps, banning synthetic CDOs, and imposing a Wall Street sales tax on all remaining derivatives and asset transactions.
To this degree, today’s hearings are being conducted in bad faith by both major parties. However, the dynamic of the resulting spectacle has the result of educating and mobilizing public opinion against the predatory practices which are the essence of Wall Street, even a year and a half after the banking panic of September 2008 and the monster bailout of zombie banks which soon followed. What is required is a new edition of the anti-banker sentiment set off by the Senate Banking Committee hearings conducted from January 1933 to May 1934 by committee counsel Ferdinand Pecora, which unmasked the corruption of Wall Street. Persons of good will need to get active now to push this process as far as possible while these social dynamics are working. It is time to hit the zombie banks, the hedge funds, and their derivatives as hard as possible, before the second wave of the depression hits. The program necessary to fight the depression and break the strangle-hold of Wall Street on the US economy and political system is given on my web site.
Mitch McConnell on the bailout: “Harry, I think we need to do this, we should try to do this, and we can do this.”
During a break the senators filed out, and the GOP reactionary lockstep once again blocked cloture for a final debate on the Wall Street reform bill, weak as it is. Many activists of the Tea Party naively believe that they have been fighting for a year and a half that they have been fighting to take back the Republican Party. If that is what they believe, today’s second cloture vote proves that they have gotten nowhere in their efforts. Despite their charades, the GOP are the bodyguards of the Wall Street predators. Tea baggers who think they can break the Wall Street grip on the Republicans are pathetic dupes, and they need to wake up, pronto.
When Paulson went to the leaders of Congress to demand a $700 billion bailout for Goldman and his Wall Street cronies, GOP Senate majority leader Mitch McConnell was “deeply frightened” by the apocalyptic briefing delivered by Paulson and Bernanke. When Democratic Majority Leader Harry Reid started talking about how difficult it would be to get so much money in a hurry, McConnell urged an immediate bailout, saying: “Harry, I think we need to do this, we should try to do this, and we can do this.” (Andrew Ross Sorkin, Too Big to Fail [New York: Viking, 2009], p. 442) The GOP was the original party of the bailout, and they have not repented, as best seen through the continuance of McConnell, one of the key midwives of the bailout, as Republican Senate Majority Leader. This is the same McConnell who went to Wall Street recently to meet with zombie bankers and hedge fund hyenas, pledging to block derivatives reforms in exchange for big bucks contributed to the GOP’s campaign coffers. Tea baggers who think the GOP has changed or is moving to their side are sadly deluded.
Today, the market fetishism of the crackpot Austrian school has taken a severe blow. Now that Blankfein‘s public image has been soiled by Goldman’s scurrilous and scatological emails, the time is ripe for the radical reform of derivatives and the zombie banks. This is a matter of national survival.
Now that Goldman Sachs is masquerading as a bank holding company, it is subject to FDIC rules. If Goldman’s derivative hoard is marked to market, it is bankrupt. The FDIC should therefore seize Goldman and liquidate it under chapter 7 of the US Code. Sheila Bair should not wait for Friday.
http://tarpley.net/2010/04/27/seize-and-liquidate-goldman-sachs/
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