Archive for June 1st, 2008
Largest Swiss Newspaper Asks if Bush Was Behind 9/11
Largest Swiss Newspaper Asks if Bush Was Behind 9/11
2,973 humans died with the attacks of 9/11. “Bin Laden” and “Al Qaeda”, the Bush clan cried. The world believed themm. In the meantime even scientists doubt the Bush version. Now, Swiss university professors Albert A. Stahel and Daniele Ganser raise new questions.
“Something is not correct”, says strategy expert Stahel in “World Week”, and here he refers to the “incomplete” official US Government 9/11 Report of 2004.
The university professor confirms his criticism in BLICK: “Osama Bin Laden cannot be ‘the large godfather’ behind the attacks. He did not have enough means of communication”.
Dr. Stahel doubts that a passenger airliner crashed into the Pentagon: “For trainee pilots it is actually impossible to crash into the building so exactly. Seven hours after the Twin Towers collapsed, the World Trade Center Building 7 next to it also collapsed. The official version: It burned for a long time. Nothing at all is clear.”
Raising questions along with Stahel is historian Dr. Daniele Ganser, his colleague at the University of Zurich. Dr. Ganser also calls the official US version “a conspiracy theory”.
“There are three theories, which we should treat equally”:
1. “Surprise theory” – Bin Laden and Al Qaeda implemented the attacks.
2. “Let it happen on purpose” – The US Government knew the Al Qaeda plans and did not react in order to legitimize a series of wars.
3. “Made it happen on purpose” – The attacks were actually planned and orchestrated by the Pentagon and/or US secret services.
Ganser: “3,000 humans were sacrificed for strategic interests. The more we research, the more we doubt the Bush version. It is conceivable that the Bush government was responsible. Bush has lied so much already! And we already know that the US government planned an operation in 1962 Operation Northwood that was approved by the Pentagon that would have sacrificed innocent US citizens for the government’s own interests.”
As for Ganser and Stahel: “We only ask questions.”
http://www.whatreallyhappened.com/
US and European debt markets flash new warning signals
US and European debt markets flash new warning signals
The debt markets in the US and Europe have begun to flash warning signals yet again, raising fears that the global credit crisis could be entering another turbulent phase.
The cost of insuring against default on the bonds of Lehman Brothers, Merrill Lynch and other big banks and brokerages has surged over the last two weeks, threatening to reach the stress levels seen before the Bear Stearns debacle. Spreads on inter-bank Libor and Euribor rates in Europe are back near record levels.
Credit default swaps (CDS) on Lehman debt have risen from around 130 in late April to 247, while Merrill debt has spiked to 196. Most analysts had thought the coast was clear for such broker dealers after the US Federal Reserve invoked an emergency clause in March to let them borrow directly from its lending window.
But there are now concerns that the Fed itself may be exhausting its $800bn (£399bn) stock of assets. It has swapped almost $300bn of 10-year Treasuries for questionable mortgage debt, and provided Term Auction Credit of $130bn.
“The steep rise in swap spreads this week is ominous,” said John Hussman, head of the Hussman Funds. “The deterioration is in stark contrast to what investors have come to hope since March.”
Lehman Brothers took writedowns of just $200m on its $6.5bn portfolio of sub-prime debt in the first quarter even though a quarter of the securities had “junk” ratings, typically worth a fraction of face value.
Willem Sels, a credit analyst at Dresdner Kleinwort, said the banks are beginning to face waves of defaults on credit cards, car loans, and now corporate loans. “We believe we’re entering Phase II. The liquidity crisis has eased a little, but the real credit losses are accelerating. The worst is yet to come,” he said.
The jump in corporate bankruptcies has not yet been picked up by the usual indicators, which tend to lag the market, lulling investors into a false sense of security. The true losses are already known to specialists in the business, said Mr Sels.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/05/29/cndebt129.xml
