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CounterCurrents Newsletter 20 September, 2008 – It’s The Derivatives, Stupid!

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In Solidarity
Binu

Will This Gigantic Bailout Work?
By Sean O’Grady
www.countercurrents.org/ogrady200908.htm
This is what we might call the $1trillion question. That’s $1,000,000,000,000, by the way. It is a little like surgery. The US government has amputated the gangrenous leg of the banking system to save the patient. But it is now preparing to graft the infected limb on to the body politic of America. The US taxpayers will be lucky if they do not feel distinctly unwell as a result of this little experiment

It’s The Derivatives, Stupid! Why Fannie, Freddie, AIG Had To Be Bailed Out
By Ellen Brown
www.countercurrents.org/brown200908.htm
Why the extraordinary bailout measures for Fannie, Freddie and AIG? The answer may have less to do with saving the insurance business, the housing market, or the Chinese investors clamoring for a bailout than with the greatest Ponzi scheme in history, one that is holding up the entire private global banking system. What had to be saved at all costs was not housing or the dollar but the financial derivatives industry; and the precipice from which it had to be saved was an “event of default” that could have collapsed a quadrillion dollar derivatives bubble, a collapse that could take the entire global banking system down with it

Iraq War Vets Transforming Trauma
By Dahr Jamail
www.countercurrents.org/jamail200908.htm
By using the written word and art, veterans of the U.S. occupation of Iraq are transforming their trauma into a message of both healing and resistance to the failed U.S. adventure

The ‘Actively Seized’ Security Council
By Cameron Hunt
www.countercurrents.org/hunt200908.htm
With the Beijing Olympics now over, it seems that the international spotlight is slowly again returning to Darfur, Sudan, where things had been relatively quiet until recently

Is It Time For Indian Maoists To Be A Force In Indian National Politics?
By Trevor Selvam
www.countercurrents.org/selvam200908.htm
A revolutionary political movement that is serious about keeping the initiative, and not getting marginalized, needs to set its strategic sights on being in a position to call for negotiations, somewhere down the line. Going from one spectacular military effort or jailbreak to another and interspersed with intermediate losses can become a never ending cycle, unless some face to face reckoning with the larger polity is targeted

The Sentiment In The Streets Of Srinagar
By Maryam Sakeenah
www.countercurrents.org/sakeenah200908.htm
India has covered up the reality in Kashmir with lies prepared by the State and fed into the public by its powerful media. Kashmiris today have broken through the fragile façade of state-authored fiction to show the world it is Kashmir against an aggressive, arrogant occupying power. The State is embarrassed by the outrage in the streets of Srinagar

Death Becomes Her: Let’s Make Her Our President
By Jason Miller
www.countercurrents.org/miller200908.htm
Savage animal slaughterer that she is, it’s apt that Sarah Palin has now brutally plunged a razor-sharp knife into the very heart of the seemingly invincible doubts concerning her capacity to be Vice-President of the United States. Wielding her chutzpah with the awe-inspiring deftness with which she employs her gun or rifle when hunting defenseless wolves or moose, she appeared on 20/20 and left our skepticism writhing on the ground in agony, immersed in its own blood and gasping its last

Regarding Senator Biden And “Tasks From God”
By Eileen Fleming
www.countercurrents.org/fleming200908.htm
Recently Senator Biden spoke with Shalom TV and stated that, “There is this inextricable tie between culture, religion, ethnicity that most people do not understand…You don’t have to be a Jew to be a Zionist, I am a Zionist.”

Racism, Propaganda, And The Palestinian Right To Return
By Max Kantar
www.countercurrents.org/kantar200908.htm
The only just solution for the question of Israel/Palestine will be a resolution that recognizes human rights, international law, and one that transcends racist ideology, providing equality for both Jews and Arabs. For all those concerned with justice and universal moral principles, this is non-negotiable

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