Greenspan warns again!

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Greenspan warns again
Tells Congress that higher rates may be needed to cool the U.S. economy
February 23, 2000: 10:13 a.m. ET

NEW YORK (CNNfn) - Four interest rate increases since June haven't slowed the torrid pace of the U.S. economy enough, and further rate hikes may be needed to ensure the economy continues to expand without igniting faster inflation, Federal Reserve Chairman Alan Greenspan said Wednesday.

In the second leg of his semi-annual testimony to Congress, Greenspan said that while productivity gains have helped keep inflation in check so far, the country's tight labor market could eventually prompt an increase in prices as workers demand higher compensation from their employers, and companies pass on those higher costs by boosting prices for goods and services.

"To date, interest-sensitive spending has remained robust and the FOMC (Federal Open Market Committee) will have to stay alert for signs that real interest rates have not yet risen enough to bring the growth of demand into line with that of potential supply, even should the acceleration in productivity continue," Greenspan said in his prepared observations on the economy.

His remarks mirrored the statement he made to the House Banking Committee last week in the first installment of his twice-yearly economic outlook report. Greenspan's remarks are required by the Humphrey-Hawkins Full Employment and Balanced Growth Act, and are closely watched by investors for clues about future Fed policy actions.

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-- Egalitarian (egalitarian@mail.com), February 23, 2000

Answers

he said, look as he might, he seens no signs of inflation! (Except maybe oil and a few commodities!) He has suggested both times that we need increased immigration.

-- Mara (MaraWayne@aol.com), February 23, 2000.

GREENSPAN REPORTEDLY BRIBES AND AIDS BUSH IN GOLD SWINDLES, Part One

by Sherman H. Skolnick http://www.skolnicksreport.com/greenspan1.html

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More than three hundred reportedly authentic secret Federal Reserve wire transfer records show how the Chairman of America's private central bank has apparently bribed and aided in corrupt deeds George Herbert Walker Bush and his family, all over a period of time. Later, Greenspan reportedly jointly with Bush and a swarm of major financial entities, derived a horrific benefit in a major gold swindle.

In clandestine meetings, over a period of months, the reportedly genuine documents were turned over to our research and investigation group by government officials clearly in an inside position to possess and confirm such data.

A conversation at one such meeting, "Tell Sherman, if you or he ever reveals our identity, we are all dead, everyone one of us. Also in jeopardy of life and limb would be more than eight others in key government and financial positions." Some of the records purport to have the wire transfer signature of A. Greenspan whose term as Commissar of the Federal Reserve was renewed in the new century. Because he is like a corrupt Soviet dictator, answerable to no one, we coined the term, "Alan Redspan".

The document delivery team were assured of confidentiality by our past record. As the founder/chairman of our group, Citizen's Committee to Clean Up the Courts, since 1963, I have been imprisoned some eight times in four decades, not for committing crimes, but for so-called "contempt of court", for refusing to reveal the identity of long-reliable sources of high-level corruption data turned over to us on the sly. Our sources, cross-checked with others, and backed up by over one million documents already in our possession, have enabled us, over a period of decades, to set off, what some describe, as the biggest judicial bribery scandals in U.S. history.

Briefly stated, this includes the downfall we caused in 1969, of Illinois' highest tribunal, the Illinois Supreme Court, with half the high court being put to the wall. In the 1970s, our work led to the jailing for bribery of the highest level sitting federal judge in U.S. history, a federal appeals judge in Chicago who had also been former State Governor and his aide, former head of the Illinois Department of Revenue, the tax collectors. 7th Circuit Federal Appeals Judge Otto Kerner, Jr., went on all the media and said "Skolnick is a liar". Kerner died an ex-convict, convicted as I accused him to his face, as is our long-time policy. From 1983 to 1993, our work set off a series of scandals, by which 20 local judges and 40 lawyers were sent to prison for bribery, including the Chief Judge of the Traffic Court, who in a taped interview said, "Mr. Skolnick, you are imagining things, there is no corruption in this courthouse."

The Federal Reserve wire transfer data, which is also corroborated by matters already in our possession, among other things, confirms the following:

[1] That George Herbert Walker Bush, starting back at the time he was Vice President and continuing long thereafter, reportedly corruptly benefitted from Billions and Billions of dollars transferred at the behest, of among others, Alan Greenspan, to private corporations worldwide, in which the Elder Bush apparently has a beneficial interest, and/or is a major stock or bond holder, and/or is a kingpin therein, in other capacities. Included are enterprises in Saudi Arabia, North Korea, Hong Kong, Denmark, England, Red China, Taiwan, Japan, and Germany, among others. Some of the purported secret wire transfers of massive amounts were jointly for the Elder Bush and his brother Prescott, a financial broker in New England. According to published accounts, Prescott Bush arranged vast, unsavory deals with the Japanese mafia, the Yakuza, as well as dictator-types in Red China including reportedly with the top officials of the Red Chinese Secret Police [who also operate greatly in North America].

[2] Holding as well a large beneficial interest, and/or as major stock or bond holder in those accounts has been Jackson Stephens, the Little Rock-based bond broker, largest such operation outside of Wall Street. Stephens, tied reportedly to the ethnic Chinese gangsters like the Riady family interwoven with Clinton and Ollie North and the dope traffic, has been a major backer of Sludge Willie. The nefarious worldwide reputed corrupt deals of the Stephens family have been covered up by Alan Redspan and what some call the highly secretive, conspiratorial Federal Reserve.

[3] Some of the firms and enterprises to which the massive wire transfer assets were sent, are reportedly CIA proprietary operations set up by Bush as the head and former head of America's secret political police. [Now a Chicago-based bankruptcy expert, William A. Brandt, Jr., has been a worldwide expert in quietly terminating CIA proprietaries once their espionage function is completed, as shown by documents released under Freedom of Information by the U.S. Justice Department. Brandt's activities overlapped those of the Elder Bush.]

[4] Some of the billions and billions of dollars of reputed wire transfers went for the beneficial interest of the Elder Bush, and his son Neil, an official of a CIA proprietary, disguised as Denver-based Silverado Savings & Loan Association. The S & L went under and Neil Bush should have been sent to prison for causing the downfall by reportedly misusing large amounts of federal-insured thrift agency funds. On the other hand, as accused in stories in the press in Spain, the Elder Bush and his sons George W. Bush [Texas Governor] and Jeb Bush [Florida] Governor and Jeb's wife, a native of Columbia, are reportedly incriminated through huge money laundering of dope proceeds through banks owned by criminals in Spain. Dope proceeds reportedly from Columbia, Morocco, Portugal, and Italy. We publicized the quiet arrest in Chicago in January, 2000, of the reputed Bush family cocaine bank money laundry wizard, Giorgio Pelossi, a prominent Swiss accountant. Visit our website: http://www.skolnicksreport.com for the details.

The Elder Bush has been with the CIA since at least 1959, when he helped set up Zapata Petroleum Co., later called Zapata Offshore, with upwards of 600 branches worldwide in international hotspots for the reported purpose of gathering intelligence for the spy agency. Some news sources have contended that Zapata's offshore drilling rigs, located beyond the U.S. jurisdiction limit, are reported centers for transferring large quantities of illicit drugs and other contraband.

[5]Some of the reportedly huge secret wire transfers were for, or with the Elder Bush jointly with the Queen of England, through her accounts in the British Monarchy's Coutts Bank, London. The secret account numbers are contained in some of the more than 300 apparently authentic Federal Reserve wire transfer records. The British Monarchy has long been accused as being worldwide kingpins in the narcotics traffic, going back 150 years starting with the Opium Wars in China.

[6] Others of the more than 300 documents, relate to a situation started in the 1970s, when the Elder Bush arranged to overthrow the Iraqi government by political assassination. Bush helped install Saddam Hussein. Others of those and other documents relate to the decade, 1980 to 1990, when the Elder Bush was a secret private business partner of Saddam Hussein in extorting billions of dollars per year from the weak sheikdoms in the Persian Gulf---oil industry kick-backs, to supposedly assure security. A little-known Federal lawsuit in Chicago dealt with the secret partner of Saddam Hussein, namely George Herbert Walker Bush. I and my associates were the only journalists attending the federal appeals court hearing. I later did an exclusive group of interviews with the participants, confirming that Bush and Saddam were private business partners in extortion of the sheikdoms. Only one populist paper dared publish the details in 1991 of my interviews on the federal case.

In a typical sort of falling out of business partners, Bush suckered Saddam Hussein into seizing a portion of Kuwait long challenged by Saddam as being a Iraqi province and part of Saddam's oilfields. Bush used a top U.S. official to mislead Saddam into thinking the U.S. would not intervene in this local quarrel with the former British colony. Bush was the one, on behalf of U.S. oil drilling interests, that helped develop the Kuwaiti oilfields, following the 1961 relinquishing of British sovereignty. In its simplest form, the 1990- 91, Persian Gulf conflict was a falling out of private business partners.

The result of this treachery? Great loss of life of ordinary soldiers. Upwards of 150 thousand young Iraqis died in the conflict, some buried alive by U.S. war bulldozers. President Bush ordered U.S. warplanes to shoot in the back, the retreating Iraqi soldiers proceeding under a white flag of surrender. It was the most horrendous murder of surrendering troops in world history. The German massacre of some 80 U.S. troops surrendering in World War 2 during the Battle of the Bulge, was a small matter by comparison. [Our public access Cable TV Program in 1991 was about the only TV Show in America that dared discuss this matter.]

Following the Persian Gulf War, some 15,000 U.S. troops died from the mysterious malady, called Gulf War Syndrome, which the Pentagon denies is happening. Ex-GIs continue to die from the strange ailments, and the total deaths and debilitating diseases amount to more than 20 per cent as casualties of all the Americans serving in the military in the Persian Gulf 1990-91, more than 100 thousand American soldiers as casualties.

Having been apparently massively bribed and aided in corrupt deeds over a period of years, the Elder Bush owed Alan Redspan and others important favors. Bush has been a potentate in one form or another, with Canadian Barrick Gold. The Bank of England, jointly with the Queen of England who reportedly shared accounts with the Elder Bush at Coutts Bank, London, and three or more major financial entities, orchestrated a vicious attack on gold in 1999. Together, they drove down the price of gold to about 252 dollars per ounce, more than 30 dollars per ounce BELOW THE COST OF PRODUCTION of the most efficient gold mines, such as in Canada.

Reportedly helping this unlawful attack on gold, gold mines, and gold mine workers, forbidden by U.S. Anti-Trust Laws, have been the following among others:

===Goldman Sachs, one of the world's largest bond and gold trading houses. Cynics, knowing these facts, call them "Goldman Sucks". Goldman Sachs has been so much into short selling deals of gold, that in the October, 1999 gold crisis, they were reportedly considering invoking the contract provision called "Force Majeure", used to avoid complying with a contract because of wars, hurricanes, revolutions, and such. The Federal Reserve has through various dirty tricks bailed out Goldman Sachs repeatedly.

===Bank of America, big in foreign exchange trading, called ForEx, [long ago called Bank of Italy, in America] they were reportedly part of the "knock down the price of gold" group.

===Bank of England, jointly with the Queen of England, offering for auction or sale gold that neither one apparently really owns, but is actually a huge gold horde stolen upon the downfall of the Soviet regime and whisked away to Dutch custody at a Swiss airport for speedy transport wheresoever requested. Bank of America is owned jointly by the Vatican, the Jesuits, and the Rothschilds. Joining them in recent years as major owners have reportedly been the Japanese mafia, the Yakuza, big in the U.S. dope traffic, and owning most every bank in California.

The purpose of the gold attack was to drive down the price of gold, among other things, to help bail out six hedge funds that have been more than a trillion dollars underwater in derivatives gambling, that is asset swaps. The bankrupt hedge funds, when gold is low-priced, can obtain gold loans for as little as one per cent interest. Were the hedge funds disaster scenario to be more public, it might set off a melt-down of the financial system of the Western world.

Reportedly at the behest of Bush, Barrick became part of a complicated trick of forward leasing of gold. A sort of short selling of gold. Thus sold short has been more than ten thousand tons of gold, more than four years of total world gold production. Gold has been called by some, "The Killer Yellow Metal", for the type of situations it can cause. In February, 2000, Barrick, Bush, and the anti-gold gang, reportedly again sought to stop the precious metal from going up to a more fair market price, such as 600 dollars per ounce.

The disclosures of the reputed secret Federal Reserve wire transfer records could torpedo the pirate ship of which Alan Redspan is a treasonous Captain joined by reputed super-crook the Elder Bush and his family and others in their gang. All together, they are part of the big gold swindle of the new century.

Click the links below to view a few samples of the more than three hundred apparently authentic Federal Reserve secret wire transfer records that tend to incriminate Bush, Redspan, the Queen of England, the Bank of England, and others.

Federal Reserve 1 Federal Reserve 2 Federal Reserve 3

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Since 1958, Mr.Skolnick has been a court reformer. Since 1963, founder/chairman, Citizen's Committee to Clean Up the Courts, disclosing certain instances of judicial and other bribery and political murders. Since 1991 a regular panelist, and since 1995, moderator/producer, of one-hour,weekly public access Cable TV Show, "Broadsides", Cablecast on Channel 21, 9 p.m. each Monday in Chicago. For a heavy packet of printed stories, send $5.00 [U.S. funds] and a stamped, self-addressed business sized envelope [4-1/4 x 9-1/2 #10 size] WITH THREE STAMPS ON IT, to Citizen's Committee to Clean Up the Courts, Sherman H. Skolnick, Chairman, 9800 South Oglesby Ave., Chicago IL 60617-4870. Office, 7 days, 8 a.m. to midnight, (773) 375-5741 [PLEASE, no "just routine calls]. Before sending FAX, call.

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-- Eagle Feather (eaglefeather8@yahoo.com), February 23, 2000.


The fact that he "warned again" is not surprising, since he simply delivered the EXACT same speech. He does that more often than not, probably because the text has been parsed down to a gnat's eyelash in order to communicate in its turgid way precisely what the Fed wants to say. We're not talking off-the-cuff remarks here; they (and everyone else) take these speeches very seriously.

-- DeeEmBee (macbeth1@pacbell.net), February 23, 2000.

Upon further review...

Now, the Q&A session with the Senators, THAT's another story. It appears that Mr. Greenspan gave true believers in The New Economy(TM) much joy in his remarks during the post-speech give-and-take.

He repeated those prepared remarks verbatim to the Senate Banking Committee in the second half of his two-part testimony today, adding during the question-and-answer session with senators that the Fed's inflation-fighting gun isn't aimed specifically at Wall Street. "We don't look at stock prices and say, 'If they are rising we have to raise interest rates,'" Greenspan said during a question-and-answer session following three hours of testimony to the Senate Banking Committee. "To the extent that the stock market affects the economy, we will respond to that." A mixed reception

"This is the first time Greenspan has come out and said he is not necessarily looking at the stock market," Ash Rajan, a market analyst with Prudential Securities, told CNNfn's Street Sweep. "Greenspan also talked about technology and productivity, which obviously spurred gains in the Nasdaq." Indeed, the tech-laden Nasdaq index posted its biggest one-day point gain, surging more than 168 points once Greenspan's session concluded around 1 p.m. ET. The more traditional Dow Jones industrial average fell more than 100 points before recovering part of its losses, while the benchmark 30-year Treasury bond fell more than half a point in price.

One boon for investors was Greenspan's remarks about the so-called wealth effect -- where dramatic gains in the stock and real estate markets have given American households more in paper assets. Greenspan suggested to Senators that while the wealth effect is something the Fed is watching closely, it is not necessarily judging it as being "overdone."

He also made clear that the Fed won't take any action on margin requirements. It's party time at the Nasdaq, friends! Techs are immune to interest rates bumps, apparently, and nothing will be allowed to stop the speculat-- errr, very aggressive pursuit of high rates of returns in equities. Party on, dudes!

Soft landing? Fuhgeddaboudit. We're never going to land at all. Just going to keep on climbing. Yessirree...

-- DeeEmBee (macbeth1@pacbell.net), February 23, 2000.


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