Category Archives: DEBT OVERLOAD

THE STATE OF NEW JERSEY IS GIVING GOLDMAN SACHS $1MILLION A MONTH OF TAX PAYERS MONEY FOR INSURANCE ON BONDS THAT DON'T EXIST

GREETINGS,

 

  YEP YOU READ THE HEADLINES RIGHT.I GUESS ITS A CASE OF FAT CATS HELPING FAT CATS UNTIL OUTRAGE REACHES A PEAK?…….AND THIS IS TAKING PLACE WHILE THEY CONTINUE TO SUFFER BUDGET GAPS AND SERVICES AND PAY CONTINUES TO GET REDUCED.BUT THAT REALLY DOESN’T MATTER BECAUSE…..THEY CAN ALWAYS FIND A LITTLE CHANGE IN THE COUCH FOR GOLDMAN SACHS!

Goldman Sachs Still Paid for Swaps on Redeemed Bonds (Update2)

 

By Dunstan McNichol

Oct. 23 (Bloomberg) — New Jersey taxpayers are sending almost $1 million a month to a partnership run by Goldman Sachs Group Inc. for protection against rising interest costs on bonds that the state redeemed more than a year ago.

The most-densely populated U.S. state is making the payments under an agreement made during the administration of former Governor James E. McGreevey in 2003, when New Jersey’s Transportation Trust Fund Authority sold $345 million in auction-rate bonds whose yields fluctuated with short-term interest costs. The agency finances road and rail projects.

“This vividly shows the risk of entering into interest- rate swap agreements,” said Christopher Taylor, former executive director of the Municipal Securities Rulemaking Board in Alexandria, Virginia. “The world’s got to see what stupidity even the sophisticated investors like the transportation fund can get into.”

While New Jersey replaced the debt with fixed-rate securities in 2008 after the $330 billion auction-rate bond market froze, the swap — in which two parties typically exchange fixed payments for ones based on floating interest rates — isn’t scheduled to expire until 2019. Continue reading

FLASHBACK:……BRITISH NEWS(IS THIS THE DEATH OF AMERICA)

Topic: British News :Is This The Death of America?  (Read 334 times)

Ahmed_El-Shabazz
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British News :Is This The Death of America?
« on: Oct 9th, 2005, 3:33pm »
 

Salaam—-Yesterday, 8, October 2005- a British newspaper asked ” Is This The Death Of America?” Well, yes it is the “Death Of America”, because this government for the pass 5 years has sped up the “Fall of America”. I would like all of the members of Salaam Journal to go to WWW.MIRROR.CO.UK and read what the people of Enland are saying about their American (white) brothers and sisters. Once more the Messenger Elijah Muhammad’s warnings of 25, 30, and 70 years ago are now front page news around the world TODAY!!
  71.101.60.234


“Without the knowledge of the history of our people before the making of the white race, you will never be able to really understand who God is.” Messenger Elijah Muhammad(pbuh) Continue reading

The Late Great United States

 Topic: The Late Great United States  (Read 635 times)

Seneca
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The Late Great United States
« on: Jun 10th, 2008, 6:15pm »
 

In the Name of Allah, Most Gracious, Most Merciful. Praise be to Allah, the Cherisher and Sustainer of the worlds.
 
The Holy Quran
CH.27
Al-Naml: THE NAML
 
The title of this chapter is taken from the mention in v. 18 of a tribe known as the Naml in connection with Solomon’s march against the Queen of Sheba. For the date of revelation and its relation to the preceding chapter, see the introductory note on the last chapter.
 
The Quran is the word of Allåh, which the Holy Prophet received from on high, just
as Moses received a call at Mount Sinai, and the enemies of the former would be dealt with even as those of the latter. This is the substance of the first section.  
 
The second and third are devoted to Solomon’s history, wherein the Holy Prophet’s future greatness is indicated. It is really a part of Mosaic history, for the Israelite kingdom attained its full glory under Solomon, and Moses passed away before any Israelitish kingdom was established.
 
On the other hand, the Holy Prophet Muhammad was destined to combine prophetic greatness with kingship, the glory of Solomon with the lowliness of Moses.  
 
In his lifetime he was recognized as the king of Arabia, yet, notwithstanding his being crowned with kingly glory, he led a life of marked simplicity.  
 
The rest of the chapter is taken up with a brief reference, in the fourth section, to the histories of Salih and Lot, whose opponents were destroyed, and the fifth may be regarded as the natural sequel that the faithful shall be exalted.  
 
The sixth section states, however, that the Prophet’s triumph was not to be marked by the utter destruction of his enemies, as in the case of these prophets, but by the ultimate spiritual resurrection of those who seemed to be quite deaf, dumb, and dead.  
 
That none but the great opponents would pass away is shown in the last section.
 
 
The Holy Quran
Ch. 27
14 And they denied them unjustly and proudly, while their souls were convinced of them. See, then, what was the end of the mischief-makers!
 
As-Salaam Alaikum
 
 
The Decline and Fall of the United States of America
23 March 2008
Revised 9 May 2008
 
http://www.foundationwebsite.org/TheLateGreatUnitedStates.htm
 
As-Salaam Alaikum
« Last Edit: Jun 10th, 2008, 6:15pm by Seneca » 76.214.102.245


Let us give praise for the coming of our God Allah, Who came in the person of Master Fard Muhammad. Continue reading

THE MALFUNCTIONING FAILED STATE….SEEING WAR AS ITS TRUMP CARD

ON THE EGDE WITH MAX KEISER AND GUESTS;TALKING ON AMERICA’S DEMISE

FORTRESS AMERICA TREMBLES AS HER ECONOMIC PILLARS CRUMBLE

GREETINGS,

 

  TODAY WE ARE WATCHING THE DEATH AND FALL OF THE MOST POWERFUL CIVILIZATION IN THE LAST 6,000 YEARS.HER (AMERICA’S) FALL IS BECOMING CLEARER AND CLEARER.IT IS A MAGNIFICENT SPECTICLE TO WATCH.

  EVERY SIGN IS POINTING IN A ONE WAY DIRECTION AND THAT DIRECTION IS TOWARDS THE GRAVEYARD OF COUNTRIES PAST THEIR TIME. TO UNDERSTAND THE PREDICAMENT AND DIRE SITUATION THAT AMERICA IS NOW FACING JUST LOOK AT SIGNS IN HER ECONOMIC REALM;” Continue reading

AMERICAN ECONOMIC HOCUS POCUS UNTIL THE LAST HOORAH

Even the Fed Doesn’t Want to Hold U.S. Dollars

 

Seeking Alpha
Friday, October 23, 2009

This is the scariest image in finance:

Even the Fed Doesnt Want to Hold U.S. Dollars saupload scary

The above chart shows the dollar’s performance since the Fed announced its Quantitative Easing program in March. This chart tells us two things:

  1. Americans just got 15% poorer on the world stage thanks to Ben Bernanke
  2. A currency crisis is in the works (and perhaps already starting) Continue reading

THE WHITE FINANCIAL ORDER….A DYING BREAD

GREETINGS,

The archdeceivers force war against themselves. Their ultimate aim is to do as their people always have done — try to destroy the preacher of truth and those who believe and follow him. This was the aim of Cain when he slew his brother, Abel, and the aim of the dragon when he sought to destroy the woman (the Messenger), as it is written in Revelations 12:4.

7 The lost-found members of that nation should be taught to know the ultimate aim of this world. God has visited them, and has prepared a teacher (in myself) to teach them, thereby making it easy for them to understand and recognize this world and its secret, ultimate aim. It is even given in the Bible, in Revelations 12:9. There it speaks of the members belonging to the righteous nation, and shows that through deceit, Satan causes them to become as himself — against the truth, peace, justice, safety and security one would enjoy if he only were not deceived. Continue reading

WORLD RECESSION TURNING TO WORLD DEPRESSION(OLD WORLD OUT;NEW WORLD IN)

Recession Will Be ‘Full-Blown Depression’: Strategist
Published: Friday, 16 Oct 2009 | 8:03 AM ET
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By: CNBC.com

 This global recession will turn into a “full-blown depression,” Nicu Harajchi, CEO of N1 Asset Management, said Friday, adding that global stimulus hasn’t come down to Main Street.

 Wall Street is making money, while consumers aren’t, Harajchi told CNBC.

 “We have seen the G20 coming out with cross border capital injections of $5 trillion this year… But a lot of this money hasn’t really come down to Main Street,” he said. Continue reading

ENGLAND'S DOOM IS SEALED AND ELIJAH SAID IT FIRST

GREETINGS,

MESSENGER ELIJAH MUHAMMAD—–,”THE FALL OF AMERICA”,pg.87;”The strong-hold of the American government is falling to pieces. She has lost her prestige among the nations of the earth. One of the greatest powers of America was her dollar. The loss of such power will bring any nation to weakness, for this is the media of exchange between nations. The English pound and the American dollar have been the power and beckoning light of these two great powers. But when the world went off the gold and silver standard, the financial doom of England and America was sealed. Continue reading

THE BELL IS TOLLING AS ITS RINGS TO 100 BANK CLOSINGS

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Bank Closings Hit 101 For Year; Most Since 1992
digg Huffpost – Bank Closings Hit 101 For Year; Most Since 1992
stumble reddit del.ico.us ShareThisDANIEL WAGNER | 10/23/09 06:21 PM |

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Read More: 100th Bank Closing, 100th Bank Failure, 2009 Bank Failures, Bank Closings, Fdic, Florida Bank, Great Recession, National Bank Failures, Partners Bank, Partners Bank Closes, Business News
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CommentsWASHINGTON — The cascade of bank failures this year surpassed 100 on Friday, the most in nearly two decades. And the trouble in the banking system from bad loans and the recession goes even deeper than the number suggests. Continue reading