Category Archives: Books

The Wizard of Lies: Diana Henriques

By Russel Kinnel | 05-24-2011

What Investors Should Learn From Bernie Madoff

Author Diana Henriques believes that the Madoff scandal underscores the importance of vigilance and research in selecting an investment advisor.

Russel Kinnel: Hi. My name is Russ Kinnel. I am director of mutual fund research for Morningstar, and today I’m going to be talking with Diana Henriques, author of The Wizard of Lies, a book about Bernie Madoff who pulled off the greatest Ponzi scheme ever.

The first question I want to ask you is about some of the research you did looking into his early life, and it’s really striking to see the signs of what would later become a giant Ponzi scheme were really there early on if you knew where to look.

Diana Henriques: That’s true, Russ, and I was quite surprised at that, as well. One of the mysteries I’m afraid, that will live as long as Madoff does, is when exactly the Ponzi scheme started. But I was able in my research to uncover an incident in 1962 when he was a very young over-the-counter trader with his own little firm.

He had invested money that was given to him by friends and family in very speculative, risky, over-the-counter stocks. In a market air pocket in May 1962 the bottom just dropped out of those stocks, and they lost all their money. But rather than confess that to them, he covered it up. He bought the shares back from their portfolios at what they paid for it and didn’t reveal but for that they would have been completely wiped out.

Now, he insisted to me, after the prison interview I had with him in August of 2010, that he kept it a secret from the investors because he knew that if he told them about it, they would insist that they take the losses and that he not nearly bankrupt himself to cover them up for him. But I don’t really buy that. I think he burnished his own reputation as the boy genius in the family and managed to hang on to those investment clients by lying to them about what he had done to prevent those losses in their accounts.

Now, that’s not the beginning of the Ponzi scheme, there’s no doubt about that. But it certainly was a very telling experience in the young life of the young Madoff.

Kinnel: You certainly get the sense that he, and maybe even his father to a degree, were trying to put a veneer on things that made things look better. And maybe all along he was trying to make it look like maybe he was a little more skilled investor than he was and that everyone was better off than they really were?

http://www.morningstar.com/cover/videocenter.aspx?id=382418

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How to Make a Million Dollars an Hour….LES LEOPOLD

How to Make a Million Dollars an Hour – Hedge Funds are Siphoning Away America’s Wealth–and You Can, Too

http://www.kobobooks.com

How hedge funds make money by taking it from the rest of us-and how you can join them!

Top hedge fund managers make more than Oprah, Rupert Murdoch, and A-Rod combined-but they aren’t running news and entertainment empires or playing baseball for the New York Yankees. Aren’t you curious about how these hedge fund dudes make so much doing who knows what? You may even wonder if you can get there, too. After all, this is America!

This book gives you the answers in a twelve-step guide to accumulating vast riches the way hedge fund managers do-by playing trillion-dollar poker with a marked deck. Through each easy step, you’ll learn the sleight of hand and disregard for basic morality you’ll need to move from making tens of dollars an hour to millions an hour! Along the way, you’ll also question whether these hedge fund moguls make markets work better-as they and their apologists insist-or cause instability, siphon off capital, and destroy value without adding so much as a single widget to the economy.

  • Takes a fascinating tour of the wild side of fantasy finance to explain just how hedge fund managers make so much money-and whether or not the million-an-hour crowd produces anything positive for society and the economy
  • Teaches you hedge fund secrets that make it possible to pull down astounding sums in the space of minutes-from rigging your bets to milking millions in special tax breaks-if you’re willing to bankrupt your morality for the cash
  • Counters many of the most common arguments about why speculating in financial markets is somehow “worth more” than creating entertainment, electronics, or consumer goods that consumers want
  • Written by Les Leopold, the popular AlterNet writer and author of The Looting of America

 

http://www.kobobooks.com/ebook/How-Make-Million-Dollars-Hour/book-InkCjfeGdU-GRWmnSddAhw/page1.html

BANKER OCCUPATION: by Stephen Lendman

BANKER OCCUPATION:
Waging Financial War on Humanity
by Stephen Lendman

http://www.claritypress.com/LendmanII.html

Stephen Lendman strikes to the heart of Wall
Street/government collusion to protect the
powerful and drive ordinary Americans into
the Third World ditch.

Here’s some straight talk on unaffordable
health care, unrepayable student debt,
bankrupt cities, money printing madness,
trillion dollar tax havens, IMF financial
terrorism, the austerity hoax, banksters’
market-rigging thievery, and the domestic
police, media and legislative repression set to
keep all that in place.

Table of Contents

Wall Street Runs America / 9

Class War in America / 15

The Austerity Hoax / 29

Trillions Stashed in Tax Havens / 34

Libor Scandal Reflects Cesspool of Financial Fraud / 38

IMF Financial Terrorism / 46

JPMorgan Chase on Capitol Hill / 58

George Soros—New World Order Confidence Man / 70

Goldman Sachs: Making Money by Stealing It / 77

Big Win for Predatory Healthcare Giants / 82

Debt Ceiling Roulette / 88

Money-Printing Madness / 94

US Cities Going Bankrupt / 104

America’s Great Divide Between Rich and Poor / 108

Hard Right Extremism in America and Europe / 113

Constitutionally Protected Symbolic Speech / 121

Washington Targets Occupy Wall Street / 125

Targeting Journalists covering OWS Protests / 130

Social Justice on Trial in Canada / 135

French Workers’ Struggles for Justice / 139

“Grand Bargain” Betrayal Coming / 142

Legislating Tyranny in America / 147

Banker Occupation of Greece / 158

Responsible New York Banking / 165

Public Banking Works / 170

Franklin Roosevelt’s Second Bill of Rights / 175

Eustace Mullins Books… The secrets of the FED

 Eustace Mullins

Eustace Clarence Mullins, Jr. (March 9, 1923 – February 2, 2010) was a populist American political writer, biographer, and antisemite

http://www.eustacemullins.us/

http://www.eustacemullins.us/wp-content/works/Books/

BANKERS START WARS TO CREATE DEBT !!! HISTORY OF FEDERAL RESERVE EUSTACE MULLINS

Uploaded on Nov 25, 2009

Our beloved Creators words in the presence of the heavenly host and the bride, in which he complains about five men signifying the pope and his clergy, the evil laity, the Jews and the heathens; and also about the help he sends to his friends, signifying all mankind, and about the harsh judgment he executes on his enemies.
Book 1 – Chapter 41 SAINT BRIDGET PATRON SAINT OF EUROPE FINAL PART
To the third I say: Since you, Jew, do not want to believe that I have come, you will see me when I come on judgment day, but not in my glory but in your conscience, and you will come to know that all the things I said were true. Then there is nothing left for you but to be tormented as you deserve.

To the fourth I say: Since you do not care to believe and do not want to know me, your darkness will become light for you, and your heart will be enlightened so that you may know that my judgments are true, but you will still not come to the light.

To the fifth I say: I shall do three things to you. First, I shall fill you inwardly with my fervor. Second, I shall make your mouth harder and firmer than any stone, so that the stones turn back to the ones throwing them at you. Third, I shall arm you with my weapons so well that no spear will harm you but instead everything will melt before you like wax in the heat of the fire. Be therefore made strong and stand like a man. For just like a knight in battle who hopes for help of his lord and continues fighting as long as he still has some life-force in him, so may you too stand firm and fight like a man; for the Lord, your God, whom none are able to withstand, will give you help. And since your number is small, I will honor you and multiply you greatly. Behold, my friends, you see these things and know them in me, and in this way they stand before me.

The words I have now spoken will be fulfilled. But these other men shall never enter my kingdom, as long as I am King, unless they better themselves. For Heaven will only be given to those who humble themselves and to those who mourn over their sins with penance. Then all the host answered: Praise be to you, Lord God, who are without beginning and without end.

Eustace Mullins died in February 2010. I was very sorry to hear that he lived his last months in discomfort and sickness. I understand though that he was very well cared for by a friend.
I am a medical research journalist investigating the fraudulent tenets and practices of Western patent medicine , as well as scientific and empirical holistic health approaches.
After I discovered Eustace’s great oevre more often than not he has confirmed the conclusions from my own research.
His books, articles and video/audio interviews are precious pearls.
Eustace, I salute you!
Rest in peace, you’ve well deserved it…

http://www.eustacemullins.us/wp-content/works/Articles/

Usury in Christendom …Michael Hoffman

Usury in Christendom: The Mortal Sin that Was and Now is Not

http://revisionisthistorystore.blogspot.com/2010/03/michael-hoffmans-online-revisionist.html

 

Published on Jan 3, 2013

Michael Hoffman gives a talk in a private home concerning the thesis of his new book, “Usury in Christendom: The Mortal Sin that Was and Now is Not.” 
http://www.revisionisthistory.org

 
For most of the first 1500 years of Christianity usury, the lending of money at interest, was unanimously condemned by the Fathers of the Early Church, and by popes, councils and saints, as a damnable sin equivalent to robbery and even murder. Any interest on loans of money, not just “exorbitant” interest, was defined de fide as a grave transgression against God and man.
 
This pioneering study of the rise of the Money Power in Christendom confronts the reader with a startling datum: the overthrow of magisterial dogma and the approval of scripture-twisting heresy occurred inside the Church centuries before the Enlightenment and the dawn of the modern era, culminating in the overthrow of divine truth; an epochal act of nullification
.
Usury in Christendom resurrects the suppressed biblical, patristic and medieval Catholic doctrine on interest on money, provides new information on the record of early Protestant resistance to the usury revolution, and the discernment, by Dante and other visionaries, of usury’s sub-rosa connection to a host of abominations that continue to plague us today.
 
Western civilization was profoundly disfigured by the exculpation of the charging of interest on debt. The result has been a pursuit of usurious profit unconstrained by the Word of God, the dogma of His true Church, and the consensus patrum of fifteen centuries. 
 
Hoffman’s history of how a den of thieves robbed the followers of Christ of their patrimony is grounded in an extensive study of rare and primary sources, and represents a landmark revisionist history of how the breeders of money gained dominion over the West. 
Michael Hoffman’s Revisionist News Bureau

Tragedy and Hope books excerpt

http://www.thirdworldtraveler.com/Banks/Tragedy_Hope_excerpt.html

Tragedy and Hope

A History of the World in Our Time

by Carroll Quigley, 1966

Pg. 48-49:

In effect, this creation of paper claims greater than the reserves available means that bankers were creating money out of nothing. The same thing could be done in another way, not by note-issuing banks but by deposit banks. Deposit bankers discovered that orders and checks drawn against deposits by depositors and given to third persons were often not cashed by the latter but were deposited to their own accounts. Thus there were no actual movements of funds, and payments were made simply by bookkeeping transactions on the accounts. Accordingly, it was necessary for the banker to keep on hand in actual money (gold, certificates, and notes) no more than the fraction of deposits likely to be drawn upon and cashed; the rest could be used for loans, and if these loans were made by creating a deposit for the borrower, who in turn would draw checks upon it rather than withdraw it in money, such “created deposits” or loans could also be covered adequately by retaining reserves to only a fraction of their value. Such created deposits also were a creation of money out of nothing, although bankers usually refused to express their actions, either note issuing or deposit lending, in these terms. William Paterson, however, on obtaining the charter of the Bank of England in 1694, to use the moneys he had won in privateering, said, “The Bank hath benefit of interest on all moneys which it creates out of nothing.” This was repeated by Sir Edward Holden, founder of the Midland Bank, on December 18, 1907, and is, of course, generally admitted today.

Pg. 51: The merchant bankers of London had already at hand in 1810-1850 the Stock Exchange, the Bank of England, and the London money market when the needs of advancing industrialism called all of these into the industrial world which they had hitherto ignored. In time they brought into their financial network the provincial banking centers, organized as commercial banks and savings banks, as well as insurance companies, to form all of these into a single financial system on an international scale which manipulated the quantity and flow of money so that they were able to influence, if not control, governments on one side and industries on the other. The men who did this, looking backward toward the period of dynastic monarchy in which they had their own roots, aspired to establish dynasties of international bankers and were at least as successful at this as were many of the dynastic political rulers. The greatest of these dynasties, of course, were the descendants of Meyer Amschel Rothschild (1743-1812) of Frankfort, whose male descendants, for at least two generations, generally married first cousins or even nieces. Rothschild’s five sons, established at branches in Vienna, London, Naples, and Paris, as well as Frankfort, cooperated together in ways which other international banking dynasties copied but rarely excelled.

Pg. 52: The names of some of these banking families are familiar to all of us and should be more so. They include Raring, Lazard, Erlanger, Warburg, Schroder, Seligman, the Speyers, Mirabaud, Mallet, Fould, and above all Rothschild and Morgan. Even after these banking families became fully involved in domestic industry by the emergence of financial capitalism, they remained different from ordinary bankers in distinctive ways: (1) they were cosmopolitan and international; (2) they were close to governments and were particularly concerned with questions of government debts, including foreign government debts, even in areas which seemed, at first glance, poor risks, like Egypt, Persia, Ottoman Turkey, Imperial China, and Latin America; (3) their interests were almost exclusively in bonds and very rarely in goods, since they admired “liquidity” and regarded commitments in commodities or even real estate as the first step toward bankruptcy; (4) they were, accordingly, fanatical devotees of deflation (which they called “sound” money from its close associations with high interest rates and a high value of money) and of the gold standard, which, in their eyes, symbolized and ensured these values; and (5) they were almost equally devoted to secrecy and the secret use of financial influence in political life.

Pg. 53: The influence of financial capitalism and of the international bankers who created it was exercised both on business and on governments, but could have done neither if it had not been able to persuade both these to accept two “axioms” of its own ideology. Both of these were based on the assumption that politicians were too weak and too subject to temporary popular pressures to be trusted with control of the money system; accordingly, the sanctity of all values and the soundness of money must be protected in two ways: by basing the value of money on gold and by allowing bankers to control the supply of money. To do this it was necessary to conceal, or even to mislead, both governments and people about the nature of money and its methods of operation.

Pg. 62: In addition to their power over government based on government financing and personal influence, bankers could steer governments in ways they wished them to go by other pressures. Since most government officials felt ignorant of finance, they sought advice from bankers whom they considered to be experts in the field. The history of the last century shows, as we shall see later, that the advice given to governments by bankers, like the advice they gave to industrialists, was …. goto web page

How the Economy Was Lost: Paul C. Robert

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How the Economy Was Lost: The War of the Worlds

 

CounterPunch/AK Press 2010

 

The US economy has disintegrated, and with it into the abyss plummet the blueprints of neoliberal economists, whose theories about “the free market” have now gone the way of medieval alchemy. No voice has been stronger, no prose more forceful, than that of Paul Craig Roberts in predicting collapse. His weekly columns in CounterPunch have won an audience of millions around the world, grateful for a trained economist who can explain lucidly how the well-being of the planet has been held hostage by the gangster elite. Now Dr. Roberts has written the shortest, sharpest outline of economics for the twenty-first century ever put between book covers. He traces the path to ruin and lays out the choices that must be made. There is the “empty world” of corporate exploitation, abetted by the vast majority of economists; or the “full world” of responsible management and distribution of our resources. Amid crisis, this is the guide you’ve been waiting for.[An interesting interpretation of “empty” and “full” worlds. Actually, Roberts uses “empty world” to designate one in which man-made capital is scarce and nature’s capital is plentiful. A “full world” designates the opposite. Today we live in a “full world,” but economic theory is based on an “empty world.]