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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Mannie who wrote (19877)	6/3/2003 4:27:15 PM
From: jlallen	Respond to of 89467

At some point...given the potential for harm and the continued risk of doing nothing....the answer is that war is the only answer and in this case....after 12 years....enough was enough.... JLA

To: Mannie who wrote (19877)	6/3/2003 4:27:15 PM
From: jlallen	Respond to of 89467

At some point...given the potential for harm and the continued risk of doing nothing....the answer is that war is the only answer and in this case....after 12 years....enough was enough.... JLA

To: Mannie who wrote (19877)	6/3/2003 4:29:23 PM
From: stockman_scott	Read Replies (1) \| Respond to of 89467

Blix Report Increases Pressure on Allies to Justify Rush to War by James Politi in Washington, James Blitz in Evian, France, and Mark Turner at the United Nations Published on Tuesday, June 3, 2003 by the Financial Times/UK The US and UK were yesterday scrambling to explain why they had failed to unearth Iraq's weapons program as United Nations inspectors said Baghdad had stepped up efforts to answer outstanding questions even on the day before US-led air strikes began. Colin Powell, secretary of state, said "it wasn't a figment of anyone's imagination" that Iraq possessed weapons of mass destruction. "There was no doubt in my mind as I went through the intelligence . . . that the evidence was overwhelming." At the G8 summit in Evian, Tony Blair, UK prime minister, was forced to deflect suggestions by a former cabinet minister that he had decided last September to go to war, whether or not UN support was forthcoming. "The idea . . . that I made some secret agreement with George Bush last September that we would invade Iraq in any event at a particular time is completely and totally untrue," he said. But both Congress and the UK parliament appear determined to hold their leaders to account on the issue. Two Senate committees are likely to hold a joint hearing to examine the administration's use of intelligence. The new report by Hans Blix, chief UN weapons inspector, revealed Baghdad supplied his team with increasingly detailed information on its illicit weapons programmes up to the eve of hostilities. But, even at the end, Iraq failed to allay suspicions that it had something to hide. UNMOVIC, the UN inspection commission, has continued to analyze data despite being sidelined from the weapons hunt. Its latest report says Iraq provided information on unmanned aircraft and its claimed destruction of anthrax as late as March 19, hours before the first air strikes. But while "inspections, declarations and documents submitted by Iraq contributed to a better understanding of past weapons programmes, the long list of proscribed items unaccounted for was [not] shortened," it says. The report identifies a "trend of withholding pertinent information" on suppliers and says that, while Iraq denied that mobile WMD labs existed, providing the UN with pictures of legitimate vehicles they suggested could explain the allegations, "none of the vehicles in these pictures look like the trucks recently described by the coalition". Over the weekend, the Bush administration faced a barrage of criticism from congressional leaders over the weapons issue. "We're going to take a look at this," John Warner, the Republican chairman of the Senate Armed Services committee said in an interview with CNN's Late Edition, cautioning that this did not mean he believed the Bush administration had acted in bad faith. Bob Graham, the Democratic senator from Florida, said on the program that if the US failed to find weapons of mass destruction in Iraq it would constitute "a serious intelligence failure or the manipulation of that intelligence information to keep the American people in the dark." © Copyright The Financial Times Ltd 2003 commondreams.org

To: Mannie who wrote (19877)	6/3/2003 8:57:09 PM
From: Jim Willie CB	Read Replies (4) \| Respond to of 89467

US will before long face an indirect negative interest rate it is called a "carry tax" for unspent cash it will backfire and promote speculation into the only rising assets: gold & silver since earnings and spending will not sustain financialsense.com it was in Puplava's Monday report on the market he referred to Stephen King's analysis the initial extreme results of the Great USDollar Decline will be rendering the EU economy into bad stagnation, from extreme rises in the euro currency Japanese will not go quietly into the economic night, as they will continue to kill their yen currency in order to keep their economy alive Chinese will not have to kill their yuan currency, since it is lock pegged at 8.3:1, and their economy is thriving all hell will break loose on the price inflation front within the USA when the Asian currencies are revalued upward, which is as inevitable as next winter's arrival Stephen King at HSBC recently wrote a lengthy tome on possible Fed policy options to fight deflation. His piece, which is must reading, is called "Thinking the unthinkable." It is King's belief that the Fed and the US government are now in the process of implementing a Five Stage Strategy designed to prevent deflation from occurring and to cure it if it surfaces. According to King this policy will send yields on 10-year Treasury yields down to 2.5 percent from their present rate of 3.41 percent with the value of the US dollar spiraling against the Euro. ----- The Carry Tax Cometh? Not to worry. The Fed is also considering unconventional means if money velocity shrinks. Fed senior vice president Marvin Goodfriend of the Richmond Federal Reserve branch first proposed a study of implementing a "carry tax." This tax would be imposed on cash if consumers don't spend the money as fast as the government wants it to. Essentially this tax would be designed to eliminate the problem of zero-bound interest rates. The tax would lower the value of the currency the longer it is held without making a transaction. In effect, it becomes a negative interest rate, which punishes cash holders for preferring to hold on to their cash. It would be designed to eliminate the Japanese problem where consumers and investors have preferred to hold on to cash as their assets deflated in the stock and real estate markets. In my opinion, besides the constitutional problems this would present, it would most assuredly backfire. As the government continues to depreciate the currency, implementing a carry tax would force investors and savers into "things" as they see the value of their assets depreciate such as paper assets and real estate and the value of things they need go up in costs. People would simply put their money into "things" and avoid paper. The most valuable asset under these conditions would be the only real money that has ever existed throughout history: silver and gold. We may soon be revisiting history as the alchemist take us back to the days of John Law, something I never thought I would see. However, it looks even more likely in the days ahead more of which will be written about in the future. what is coming will be simply mindboggling !!! such are the makings of desperate men attempting to remedy the unfixable / jim