Wednesday, August 5, 2009
Earlier today, Paul Joseph Watson reported on the expected deployment of National Guard troops in Jefferson County, Alabama, to perform law enforcement duties in violation of Posse Comitatus due to budget cuts. “Plans to slash $4.1 million from the budget of Sheriff Mike Hale by Jefferson County commissioners in order to head off a municipal bankruptcy filing were approved by Circuit Judge Joseph L. Boohaker,” Watson wrote.
|Residents of Jefferson County, Alabama, endure large lines to conduct routine business as the government slowly shuts down.|
As it turns out, Jefferson County’s financial woes are a direct result of a bankster derivative scam.
“A few years ago Jefferson County, Alabama bought 17 interest rate swaps from JP Morgan, Lehman Brothers and Bank of America with the intention of hedging interest rate risk,” writes Moe Tkacki for the Business Insider’s Clusterstock. “In a sequence of events that played out in state capitals, city halls, and school and public utility boardrooms throughout the country , Jefferson County officials bought into complex interest rate swap contracts they didn’t understand, at much higher prices than the going rate, only to face hundreds of millions of dollars in sudden collateral calls when the subprime mortgage crisis began.”
Credit default swaps are a mega-scam perpetuated by the major banks. Last year, there was more than 70 trillion dollars in the so-called credit default swap market, a sum larger than the GDP of the world. “If only 1 to 2 percent ’service fee’ were charged in these transactions (which are based on illusory assets), we’re talking nearly three-quarters to one-and-a-half trillion dollars in real term fees being siphoned off (i.e. hijacked from) the global economy for no productive, but merely parasitic, purpose,” writes Zeus Yiamouyiannis. “One thing of which I am convinced, we have just been ripped off trillions of dollars and 700 billion of even real money won’t fix the problem.”
In late 2008, then Treasury Secretary Hank Paulson attempted to cover-up this scam and protect his bankster masters. Now the damage is coming home to roost in places like Jefferson County, Alabama. Expect the rot to spread and troops to be called out in other parts of the country.
It really is a genius plan on the part of our globalist rulers. First, they hijacked the economy with their scam. Second, they created an economic crisis of fantastic proportion (and are now demanding world government as the cure). Third, in response to the social and political disintegration caused by their scam cash-strapped government tells us they have to lay-off the police and send out the troops because “anarchy” will rule if they don’t.
It is problem-reaction-solution on steroids.
For now, reports the Associated Press, “sewer system is still operating normally” — sewers are one of the hallmarks of an advanced civilization — but the country has closed four satellite courthouses and residents are standing in line for hours at the main courthouse to do routine business like renewing car tags.
It doesn’t take much imagination to speculate what will happen when the sewers stop working and normal government operations — fire and ambulance service, county hospitals, trash collection, the maintenance of the public water system, etc. — come crashing to a halt.
Jefferson County will need the National Guard to stop the plebs from revolting.
This article was posted: Wednesday, August 5, 2009 at 12:14 pm