Sabbath 13/12/38/120

Dear Friends,

Each presidential election in the US to set up a new president has seen a complete fiasco develop in the US created by its banking and finance sectors.

The first disaster was the Dot.com disaster that preceded the Clinton administration. It was set up and a lot of money was taken off a lot of gullible people, and the US administration helped the system through it with major losses to US and world investors.

The next disaster was to precede the Bush election.  He became President on January 20, 2001.  Prior to his election the 1999 stock market disaster was engineered and over 2000 a massive crash occurred which caused loses to billions of people around the world.  Bush and Cheney then engineered the invasion of Afghanistan and then Iraq and until billions were lost without trace.  The false assertion of WMD by Bush, Blair and Howard saw over a million die innocently.  Despite their alleged war crimes they were not tried and are still free.

Over the period of what became known as the Global Financial Crisis (GFC) Secretary Paulsen played a significant role.  The Wikipedia article notes Paulson was nominated on May 30, 2006, by U.S. President George W. Bush to succeed John Snow as the Treasury Secretary.[16] On June 28, 2006, he was confirmed by the United States Senate to serve in the position.[17] Paulson was sworn in at a ceremony held at the Treasury Department on the morning of July 10, 2006.

Paulson identified the wide gap between the richest and poorest Americans as an issue on his list of the country's four major long-term economic issues to be addressed, highlighting the issue in one of his first public appearances as Secretary of Treasury.[18]

Paulson conceded that chances were slim for agreeing on a method to reform Social Security financing, but said he would keep trying to find bipartisan support for it.[19]

He also helped to create the Hope Now Alliance to help struggling homeowners during the subprime mortgage crisis.[20]

Paulson was known to have persuaded President George W. Bush to allow him to spearhead U.S.-China relations and initiated and led the U.S.-China Strategic Economic Dialogue, a forum and mechanism under which the two countries addressed global areas of immediate and long-term strategic and economic interest. In spring 2007, Paulson warned an audience at the Shanghai Futures Exchange that China needed to free up capital markets to avoid losing potential economic growth, saying: "An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention." In September 2008, in light of the economic crisis experienced by the U.S. in the interim, Chinese leaders evidenced hesitation to follow Paulson's advice.[21]

During this time the banks with the knowledge of the treasury developed what became known as Collateralised Debt Obligations (CDOs) which was in fact a way of combining worthless mortgage securities and selling them as more solid securities to investors and other banks around the world.  Some consider it to have been the greatest fraud ever undertaken in the history of banking.  We will see that is not in fact the case.  What lies ahead of us is way more serious than that.

In April 2007, Paulson delivered an upbeat assessment of the economy, saying growth was healthy and the housing market was nearing a turnaround. "All the signs I look at" show "the housing market is at or near the bottom," Paulson said in a speech to a business group in New York. The U.S. economy is "very healthy" and "robust," Paulson said.[22]

In August 2007, Secretary Paulson explained that U.S. subprime mortgage fallout remained largely contained due to the strongest global economy in decades.[23]

On March 26, 2008, Secretary Paulson said in remarks at the U.S. Chamber of Commerce, “As we work our way through this turbulence, our highest priority is limiting its impact on the real economy. We must maintain stable, orderly and liquid financial markets and our banks must continue to play their vital role of supporting the economy by making credit available to consumers and businesses. And we must of course focus on housing, which precipitated the turmoil in the capital markets, and is today the biggest downside risk to our economy. We must work to limit the impact of the housing downturn on the real economy without impeding the completion of the necessary housing correction. I will address each of these in turn. Regulators and policy makers are vigilant; we are not taking anything for granted.”[24]

In May 2008, The Wall Street Journal wrote that Paulson said U.S. financial markets are emerging from the credit crunch that many economists believe has pushed the country to the brink of recession. "I do believe that the worst is likely to be behind us," Paulson told the newspaper in an interview.[25]

On July 20, 2008, after the failure of Indymac Bank, Paulson reassured the public by saying, “it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.”[26]

On August 10, 2008, Secretary Paulson told NBC’s Meet the Press that he had no plans to inject any capital into Fannie Mae or Freddie Mac.[27] On September 7, 2008, both Fannie Mae and Freddie Mac went into conservatorship.[28]
On November 18, in testimony before the United States House Committee on Financial Services, Secretary Paulson told lawmakers, “There is no playbook for responding to turmoil we have never faced. We adjusted our strategy to reflect the facts of a severe market crisis always keeping focused on Congress's goal and our goal – to stabilize the financial system that is integral to the everyday lives of all Americans.”[29]

On November 20, 2008, during remarks at the Ronald Reagan Presidential Library, Secretary Paulson said, “We are working through a severe financial crisis caused by many factors, including government inaction and mistaken actions, outdated U.S. and global financial regulatory systems, and by the excessive risk-taking of financial institutions. This combination of factors led to a critical stage this fall when the entire U.S. financial system was at risk. This should never happen again. The United States must lead global financial reform efforts, and we must start by getting our own house in order.”[30]

"’Blueprint for a Modernized Financial Regulatory Structure\
On March 31, 2008, Paulson released "The Department of the Treasury Blueprint for a Modernized Financial Regulatory Structure". In remarks announcing the release of the report, Paulson cited the need to overhaul the financial regulatory system, saying:

But capital markets and the financial services industry have evolved significantly over the past decade. Globalization and financial innovation, such as securitization, have provided benefits to domestic and global economic growth; while highlighting new risks to financial markets. We should and can have a structure that is designed for the world we live in, one that is more flexible, one that can better adapt to change, one that will allow us to more effectively deal with inevitable market disruptions and one that will better protect investors and consumers.[31]

Lehman's bankruptcy
The support given by Federal Reserve Board, under Ben Bernanke, and the US Treasury with Paulson at the helm, in the acquisition of Bear Stearns by J.P. Morgan and the $200bn facility made available to Fannie Mae and Freddie Mac attracted a great deal of criticism in congress by both Republicans and Democrats.[32] Paulson and Geithner made every effort to enable Barclays to acquire Lehman Brothers, including convincing other large Wall Street firms to commit their own funds to support the deal. In light of the recent Bear Stearns criticism, Paulson was against committing public funds towards a bailout, for fear of being labelled 'Mr Bailout'.[33] When British regulators indicated they would not approve the purchase, Lehman went into bankruptcy, and Paulson and Geithner worked to contain the systemic impact.[34]

"Well, as you know, we're working through a difficult period in our financial markets right now as we work off some of the past excesses. But the American people can remain confident in the soundness and the resilience of our financial system." [35]

In the aftermath of Lehman’s failure and the simultaneous purchase of Merrill Lynch by Bank of America, already fragile credit markets froze, so that companies having nothing to do with banking but needed financing (e.g. General Electric) could not get daily funding requirements which had the effect of sending the US equity/bond markets into turmoil between September 15, 2008, and September 19, 2008.

U.S. government economic bailout of 2008.
Paulson, acting as U.S. Treasury Secretary, caused outcries from both the Republican and Democratic Parties as well as the general populace as he tried to get the situation under control.

Through unprecedented intervention by the U.S. Treasury, Paulson led government efforts which he said were aimed at avoiding a severe economic slowdown. After the Dow Jones dropped 30% and turmoil ensued in the global markets, Paulson pushed through legislation authorizing the Treasury to use $700 billion to stabilize the financial system. Working with Federal Reserve Chairman Ben Bernanke, he influenced the decision to create a credit facility (bridge loan and warrants) of US$85 billion to American International Group so it would avoid filing bankruptcy, after having been told that AIG held teacher pension plans, 401k plans, $1.5 trillion in life insurance plans for Americans, and the French Finance Minister called to let Paulson know that AIG held the interests of many Eurozone countries.

On September 19, 2008, Paulson called for the U.S. government to use hundreds of billions of Treasury dollars to help financial firms clean up nonperforming mortgages threatening the liquidity of those firms.[36] Because of his leadership and public appearances on this issue, the press labeled these measures the "Paulson financial rescue plan" or simply the Paulson Plan.[37]

With the passage of H.R. 1424, Paulson became the manager of the United States Emergency Economic Stabilization fund.

As Treasury Secretary, he also sat on the newly established Financial Stability Oversight Board that oversaw the Troubled Assets Relief Program.

Paulson agreed with Bernanke that the only way to unlock the frozen capital markets was to provide direct injections into financial institutions so investors would have confidence in these institutions. The government would take a non-voting share position, with 5% dividends for the first year on the money lent to the banks and 9% thereafter until the banks stabilized and could repay the government loans. According to the book Too Big To Fail, Paulson, Bernanke, New York Federal Reserve Chairman Timothy Geithner, and FDIC Chairman Sheila Bair attended the meeting on October 13, 2008, at which this plan was presented to the CEOs of nine major banks.

Time magazine on Henry Paulson
Time named Paulson as a runner-up for its 2008 Person of the Year, saying, with reference to the global financial crisis, "if there is a face to this financial debacle, it is now his..." before concluding that "given the ... realities he faced, there is no obviously better path [he] could have followed".[38]

Conflict of interest claims
It has been pointed out that Paulson's plan could potentially have some conflicts of interest, since Paulson was a former CEO of Goldman Sachs, a firm that might benefit largely from the plan. Economic columnists called for more scrutiny of his actions.[39] Questions remain about Paulson's interest, despite having no direct financial interest in Goldman, since he had sold his entire stake in the firm prior to becoming Treasury Secretary, pursuant to ethics law.[40]

The Goldman Sachs benefit from the AIG bailout was recently estimated as US$12.9 billion and GS was the largest recipient of the public funds from AIG.[41] Creating the collateralized debt obligations (CDO's) forming the basis of the current crisis was an active part of Goldman Sach's business during Paulson's tenure as CEO. Opponents argued that Paulson remained a Wall Street insider who maintained close friendships with higher-ups of the bailout beneficiaries. If passed into law as originally written, the proposed bill would have given the United States Treasury Secretary unprecedented powers over the economic and financial life of the U.S. Section 8 of Paulson’s original plan stated: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."[42] Some time after the passage of a rewritten bill, the press reported that the Treasury was now proposing to use these funds ($700 billion) in ways other than what was originally intended in the bill.[43]

After leaving his role as Treasury Secretary, Paulson spent a year at the Paul H. Nitze School of Advanced International Studies at Johns Hopkins University as a distinguished visiting fellow, and a fellow at the university's Bernard Schwartz Forum on Constructive Capitalism.[44] His memoir, On the Brink: Inside the Race to Stop the Collapse of the Global Financial System, was published by Hachette Book Group on February 1, 2010.[45] In September 2015, Paulson was awarded an honorary doctorate of laws and environmental policy by Washington College President and former FDIC Chair Sheila Bair. [46]

The Paulson Institute
On June 27, 2011, Paulson announced the formation of the Paulson Institute, an independent center located at the University of Chicago, dedicated to fostering international engagement to address issues of global scope, with particular emphasis on cooperation between the United States and China. Paulson was also named as a senior fellow at the University of Chicago's Harris School of Public Policy.[1] His five-year appointment took effect July 1, 2011.[47]

Paulson is one of the NWO Climate Change supporters and part of the NWO encoave with influence in China.
In April 2015, Paulson published Dealing With China: An Insider Unmasks the New Economic Superpower.[48] In it he raises concerns about China's economic future, warning "It's not a question of if, but when, China's financial system, particularly the trust companies, will face a reckoning and have to contend with a wave of credit losses and debt restructurings". The book was chosen by Facebook founder Mark Zuckerberg for the Mark Zuckerberg book club.[49]
Paulson has been described as an avid nature lover.[50] He has been a member of The Nature Conservancy for decades and was the organization's board chairman and co-chair of its Asia-Pacific Council.[9] In that capacity, Paulson worked with former President of the People's Republic of China Jiang Zemin to preserve the Tiger Leaping Gorge in Yunnan province.[citation needed] Paulson co-chairs a group called Risky Business that raises awareness of the projected economic impact of climate change.[51]

Paulson is also on the Board of Directors of the Peregrine Fund and was the founding Chairman of the Advisory Board of the School of Economics and Management of Tsinghua University in Beijing.

Notable among the members of Bush's cabinet, Paulson has said he is a strong believer in the effect of human activity on global warmingand advocates immediate action to decrease this effect.[52]

During his tenure as CEO of Goldman Sachs, Paulson oversaw the corporate donation of 680,000 acres (2,800 km2) on the forestedChilean side of Tierra del Fuego, bringing criticism from Goldman shareholder groups.[53] He further donated to conservancy causes US$100 million of assets from his wealth, and has pledged his entire fortune for the same purpose upon his death.[54]

Media opinion of Paulson’s Role in the GFC and beyond.
Wikipedia records that Paulson was portrayed by William Hurt in the 2011 HBO film Too Big to Fail and by James Cromwell in the 2009 BBC film The Last Days of Lehman Brothers.[55][56]

In the documentary film Inside Job, Paulson is cited as one of the persons responsible for the Economic Meltdown of 2008 and named in Time Magazine as one of the "25 People to Blame for the Financial Crisis".
In September 2013, Bloomberg Businessweek released the documentary film Hank: Five Years From the Brink, directed by Oscar-nominated Joe Berlinger and distributed by Netflix.[57]

There is little doubt that the GFC was the greatest financial scandal to hit the US and world banking in world history. That it was the product of the US Banksters seems beyond doubt and it is a matter of record that we warned of the CDOs and the coming GFC as early as 2006 and through 2007 and 2008.  The Reserve Bank of Australia continued to escalate interest rates and plunged Australia into chaos over the same period and the Reserve Bank should have been sacked for their conduct.

The bailout followed after the Obama administration conveniently took over from Bush in 2008 for the next phase of the NWO fraud and the ensuing chaos.

The news is now reporting that Barney Frank, the former chairman of the powerful US House Financial Services Committee, believes that while another Wall Street collapse is "unlikely" but not impossible, China is the much bigger risk.
"The slowdown there could be a problem. What's happening in China is, among other things, a very high level of indebtedness and I would say that's the threat that we see in China," Mr Frank told the ABC's AM program.
"It's not simply a slowdown in growth but a kind of serious cutback because of the heavy indebtedness."

The rising concerns about a debt-fuelled crisis in China comes almost eight years after the Lehman Brothers collapse triggered the global financial crisis.
(http://www.abc.net.au/news/2016-02-19/frank-dodd-co-author-says-us-financial-crisis-unlikely/7183732)

But what is true?  The history has shown us that with the election of each of the last presidents since Clinton the US has been sold a dump and they have been faced with serious economic problems each worse than the previous one.  What is the current situation and what sort of crisis do they have planned for the next president to be faced with and from which they will try to profit?

They wish to bring in a NWO and a global government.  What crisis have they in store for us all?  Well the real story is the banks are over their heads in derivative debt.  This is what the major banks who had to be bailed out with the massive printing of moneys and the virtual bankrupting of the US currently face.
 
Citigroup
Total Assets: $1,808,356,000,000 ($1.8 Trillion)
Total exposure to derivatives: 53,042,993,000,000  (more than $53 trillion)

JP Morgan Chase
Total Assets: 2,417,121,000.000  ($2.4trillion)
Total exposure to derivatives:  51,352,846,000,000  (more than $51 Trillion)

Goldman Sachs
Total Assets: 880,607,000,000  (less than $1 trillion)
Total exposure to derivatives:  51,148,059.000.000  (more than $51 Trillion)

Bank of America
Total Assets:  2,154,342,000,000 ($2.1 Trillion)
Total exposure to derivatives:  45,243,755,000,000 (more than $45 Trillion)

Morgan Stanley
Total Assets:  834,113,000,000  (less than $1 trillion)
Total exposure to derivatives:31,054,323,000,000 (more than $31 trillion)
(Source: Hayek)

Overall the biggest US banks have more than $247 trillion of exposure to derivatives contracts which is 13 times the National debt. They can’t pay it.  Yet these US finance clowns are claiming that there is no crisis. Yet all the billionaires are offloading their oil shares and investments and closing down for the crisis.  The RBS is nationalised and its advice to its clients was sell everything.

Australia also has serious exposure to derivatives and overseas loans.  The NAB came back from overseas and said publicly that the overseas financiers said simply that Australia was “Toast.”  So also UK and Canada are problematic and Europe is in crisis.

This is necessary to the formation of the NWO.  Africa is also in crisis and Asia and China particularly are in trouble.

The banks were all bailed out by the tax papers and went back into such debt that it is unpayable. The developed world is bankrupt and the aim is a Globalist NWO in ten economic regions with a single world currency and they will send us all into slavery.  Fortunately they will only rule for one hour with the beast and then the entire system will be destroyed, firstly under the Witnesses and then under the Messiah.

Pray for the Witnesses and then the Messiah.

Wade Cox
Coordinator General.

Papers to study
The Witnesses (including the Two Witnesses) (No. 135)
Advent of Messiah: Part I (No. 210A)
Advent of the Messiah: Part II (No. 210B)
 World War III: Part I The Empire of the Beast (No. 299A)
 WWIII Part II: The Whore and the Beast (No. 299B)