Alex Jones Show - 20080916_Tue_Radio

00:00:04.000 Big Brother.

00:00:06.000 Mainstream media.

00:00:08.000 Government cover-ups.

00:00:09.000 You want answers?

00:00:11.000 Well, so does he.

00:00:13.000 He's Alex Jones on the GCN Radio Network.

00:00:17.000 And now, live from Austin, Texas, Alex Jones.

00:00:22.000 We have Nobel Prize winner Joseph Stiglitz, former chief economist at the World Bank, scheduled to join us in an hour.

00:00:29.000 The Genesis phone system is down.

00:00:31.000 They don't have regular phone line backups anymore.

00:00:33.000 They did years ago.

00:00:34.000 I'm going to insist that that happens, and that a few phone lines be added in the studio.

00:00:41.000 That's a problem with this society, is that everything is going to computers with no backups.

00:00:48.000 I was out in my little gym in my garage, lifting weights and riding the bicycle about an hour early this morning, and I watched Die Hard.

00:01:00.000 The last one that came out, I think Die Hard 4 or whatever it is, Live Free or Die Hard, and it's all about hackers taking over and doing a fire sale, is what it's called, where they completely shut down everything that is computer-based.

00:01:19.000 And of course, it's some rogue group of hackers that do it, not the government.

00:01:23.000 But in truth, it is the government that openly has said that they are looking At ways to shut the web and all computers, not just in the U.S., but in the world down.

00:01:36.000 And boy, we sure are a society that are setting things up to make that easy for them to do, aren't we?

00:01:44.000 We sure are.

00:01:46.000 All this important news and information going on.

00:01:49.000 30 minutes from now, Dr. Paul Craig Roberts is scheduled to be on the show.

00:01:56.000 And then, of course, Nobel Prize winner Joseph Stiklitz.

00:02:00.000 Right now we're I think he's in New York City.

00:02:03.000 I think we're stringing a wire a String with two Dixie cups on it over there to New York right now And then Sidney Sheehan pops in to give us an inside view of that amazing race Going on between her and the Speaker of the House Nancy. 0.99

00:02:17.000 Let's keep the war going for a hundred years Pelosi in the district that covers San Francisco and Berkeley where the war is In the polls, over 90% unpopular.

00:02:29.000 How could Cindy Sheehan not win?

00:02:31.000 Well, it's called Electronic Voting Machines, but we are following that race very, very closely. 1.00

00:02:37.000 Regardless if Dr. Roberts can make it today, or if Joseph Stiglitz can, or Cindy Sheehan, with his T1-based phone systems.

00:02:46.000 What am I talking about?

00:02:48.000 I just need to get my IT guy in here right now, and I'll just call him in my studio.

00:02:51.000 That's why I put phone systems in here to begin with.

00:02:54.000 See, I just forget all this stuff.

00:02:55.000 I get in and get ready to do my show, and, uh, I can turn the phone system on.

00:03:01.000 It's inside the computer.

00:03:02.000 I get in here, and then I'm told that I can't take phone calls.

00:03:05.000 Then I forget that the last time this happened is when I put in a phone system in here about a year ago now.

00:03:11.000 Hey, I need you to come in.

00:03:12.000 Their phone system's down down there, and I got a Nobel Prize winner and some others scheduled for the show.

00:03:16.000 So I need you in here in, uh, 20 minutes.

00:03:19.000 Thanks. See ya.

00:03:22.000 Anyways, okay, that's handled.

00:03:24.000 I forgot I'd already put a backup in.

00:03:28.000 Alrighty then.

00:03:30.000 And my system does have a phone line going into it, a regular phone line, and then two different computer systems going into it.

00:03:38.000 Alright, I'm gonna shut up now.

00:03:41.000 Yeah, I'm very upset.

00:03:42.000 I'm in a very nasty mood about what's happening to my beloved country. 0.95

00:03:47.000 It's a rotten, spoiled country. 0.97

00:03:48.000 It's covered with warts. 1.00

00:03:49.000 It's very decadent.

00:03:52.000 Very twisted, but there's also a lot of good in this nation.

00:03:55.000 A lot of people worked hard to build this country, and you know, it's got a lot of problems, but it's the best thing running out there in the world.

00:04:03.000 Make no mistake, it is the best.

00:04:07.000 And it's going to hell in a handbasket right in front of me, and I got all this economic news we'll cover after the break.

00:04:16.000 And so we will Come back after the break and I will refocus in on all the important economic news that is developing by the day.

00:04:27.000 Every day things happen many times bigger than Enron.

00:04:33.000 No talk of jail, no talk of arrest, no talk of investigations even.

00:04:40.000 That's because it's a planned criminal looting.

00:04:43.000 Now they will send some innocent broker to jail.

00:04:47.000 And they'll blame it on them, but that'll be a year or so down the road when they start the patsies.

00:04:52.000 So we'll break it all down on the other side, talk about where this is going.

00:04:55.000 Stay with me.

00:04:56.000 May I have everybody's attention, please?

00:05:03.000 I've come with a message of information.

00:05:05.000 9-11 was an inside job.

00:05:08.000 Do you like being a puppet, sir?

00:05:09.000 Do you like being a puppet for the New World Order?

00:05:11.000 How do the American people know that 9-11 was a state?

00:05:14.000 Was it engineered by you, David Rockefeller, the Trilateral Commission, the CFR?

00:05:18.000 The day that we stop asking questions is the day that we have allowed the seeds of despotism to grow at our own door.

00:05:26.000 Seven years after the attacks of September 11th, a global awakening has taken place.

00:05:32.000 An inside job?

00:05:34.000 How dare you?

00:05:37.000 All right, we think about the comics just in the show tonight.

00:05:39.000 If you know that there's treason going on, you can be held accountable for treason yourself.

00:05:43.000 All hell is breaking loose on 6th Avenue.

00:05:46.000 And if the government has not told the truth in five years, we will be here on the 10th anniversary of not a...

00:05:51.000 Truth is rising.

00:05:52.000 Download the film at PrisonPlanet.tv right now or get the DVD at InfoWars.com.

00:05:57.000 It's now time to take the revolution to the next level.

00:06:01.000 gasoline prices got you down.

00:06:03.000 Is your vehicle not getting the mileage it used to?

00:06:05.000 Poor quality gasoline and the addition of ethanol plugs your fuel injectors and slowly robs fuel economy.

00:06:11.000 Mechanics charge up to $300 to clean your fuel system.

00:06:16.000 Add just one bottle of Protect-A-Complete fuel system treatment to clean your fuel system to a like new condition in only one tankful and improve your mileage for up to six months.

00:06:26.000 Safe for all cars, Protect-A-Complete fuel system cleaner reduces emissions by up to 19% and that's something we can all live with.

00:06:34.000 Order Protect-A-Complete fuel system cleaner today for only $9.95 and receive Protect-A-Synthetic engine treatment free.

00:06:41.000 That's a $13.95 value.

00:06:43.000 Protect-a-engine treatment also comes with a 200,000 mile limited warranty on your engine.

00:06:48.000 Order now at oilcompanysecret.com.

00:06:51.000 That's oilcompanysecret.com.

00:06:53.000 Or call 888-873-7371.

00:06:57.000 That's 888-873-7371.

00:07:00.000 Of the three million plus edible food plants that grow on earth, no other single plant can compare with the nutritional value of the powder, seeds, and oil of the hemp plant.

00:07:09.000 At hempusa.org, we ship worldwide these nutritional products with free shipping to the U.S. and Canada.

00:07:15.000 At hempusa.org, we want to educate our listeners that edible hemp is not marijuana and is certified THC-free.

00:07:22.000 Our powder is 50% protein and does not contain gluten.

00:07:25.000 Gluten impairs the cells from absorbing nutrients.

00:07:28.000 This nutrient-dense food can be stored up to 5 years when vacuum-packed and is priced affordably to be used as a storable food.

00:07:34.000 HempUSA.org is a bulk shipper starting with 5 pounds and up.

00:07:38.000 To allow this food to work for you, call 908-691-2608 or go to HempUSA.org and order today.

00:07:45.000 The body will react and heal itself, given the proper nutrition.

00:07:48.000 This superfood will be your greatest asset.

00:07:50.000 So try it today, store it today, and change your life.

00:07:54.000 Call 908-691-2608 or order from hempusa.org.

00:08:01.000 From his Central Texas Command Center, deep behind enemy lines, the information war continues.

00:08:08.000 It's Alex Jones and the GCN Radio Network.

00:08:11.000 The Largest Story.

00:08:27.000 Robbery in world history is going on right now against not just the people of the United States, but the people of Canada, Europe, investors worldwide.

00:08:39.000 There are hundreds of billions of dollars being stolen by the international banking cartel on a daily basis.

00:08:49.000 That is conservative, by the way.

00:08:51.000 Hundreds of billions of dollars being stolen Mainstream news is basically trying to create a panic while at the same time talking out of the other side of their mouth, claiming that everything is going to be okay so that they can't be accused of trying to cause a panic.

00:09:10.000 It's a very simple thing to understand.

00:09:14.000 On a daily basis now for the last two weeks, institutions much larger and much more leveraged than Enron Are going under.

00:09:29.000 Enron made hundreds of thousands of people lose their jobs.

00:09:33.000 Millions of investors took a big hit.

00:09:36.000 A lot of people lost their retirement.

00:09:39.000 And they were not given help.

00:09:42.000 A few people got maybe 10 cents on the dollar out of it.

00:09:47.000 And then Kinlay, after he was convicted, conveniently died in his home.

00:09:55.000 In Aspen, Colorado, if you believe any of that, he's probably basking in the Maui sun with Whitman Price and Haddad, his debt to society paid in full.

00:10:08.000 I mean, with this government, as corrupt as it is, there's no telling.

00:10:12.000 Remember, he later became Secretary of the Army?

00:10:15.000 Mr. White?

00:10:17.000 He was the head of operations on the West Coast for Enron.

00:10:21.000 And he would give the state legislature walkthroughs to the Enron Energy Trading Command Center.

00:10:28.000 Big computer screens running fake computer simulations, showing them energy trading going on.

00:10:34.000 There wasn't any energy trading going on.

00:10:36.000 It was fake.

00:10:38.000 They would just make up whatever numbers they wanted, and some days would bilk the Californian taxpayers for more than a billion dollars a day.

00:10:47.000 And that went on for several years.

00:10:50.000 It, of course, was a money-laundering operation for drug cartels and the CIA offshore.

00:10:58.000 And when they were done with it, they closed it up like an umbrella.

00:11:00.000 All the real assets had been moved out the back, and they just told the public there had been some mismanagement, and that's why hundreds of billions of dollars had just disappeared into a black hole.

00:11:13.000 Well, that's the same thing that's going on here, but every day, every day, There are events much bigger than Enron, and you'll hear the news say, and federal regulators say, who by the way all come out of these companies, they'll say, oh, there was some mismanagement, they did some things that probably weren't completely kosher, but nothing illegal's been done.

00:11:40.000 That's right, taking junk debt, That they knew when they sold it wasn't gonna be paid back, but they knew they were gonna actually cause the run on the securities.

00:11:52.000 That's part of the Ponzi scheme.

00:11:56.000 And selling it as solid gold, AAA-rated, government-backed securities.

00:12:04.000 Standing behind Fannie Mae and Freddie Mac.

00:12:08.000 And then, that's why you saw banks popping up like McDonald's all over the country.

00:12:12.000 I mean, here in Texas, I'm not exaggerating, By my house they built probably, I don't know, within a mile, ten banks two years ago.

00:12:22.000 Just banks everywhere.

00:12:23.000 Just banks with no customers.

00:12:25.000 You might see one car drive through every once in a while.

00:12:28.000 Just everywhere.

00:12:30.000 New subsidiaries, new names.

00:12:32.000 Thousands of new banks because they could take those assets, those securities, government backed, that means taxpayer backed, and go deposit it as a asset and then loan out 10 times more.

00:12:46.000 And then take the money from that bank and set up another bank and loan out 10 times more.

00:12:52.000 Or 9 to 1 if you want to get technical.

00:12:54.000 The fractional reserve banking here in the U.S. But then they, by the mid-90s, they just got rid of that and just said unlimited.

00:13:02.000 And then I found out about the IMF World Bank Plan, which wasn't hidden.

00:13:06.000 It was in the BBC News and other places to do that in the West and to leverage everything out and then implode it.

00:13:11.000 And then to actually have riots in the streets for food and water and Then bring in martial law and I said, man, this doesn't sound too good.

00:13:19.000 I better go on the radio and warn people.

00:13:21.000 And I got laughed at like I always do.

00:13:23.000 It's all real funny.

00:13:24.000 Drinking sodium fluoride, taking mercury shots, prisons popping up everywhere, cops in black uniforms with ski masks with no identification, cameras going up.

00:13:33.000 It's, you know, on every street corner, it's real funny.

00:13:38.000 Ha ha ha ha ha!

00:13:39.000 It's real, all of it's real funny, isn't it?

00:13:46.000 I remember in 1998, I saw a blurb online put out by an industry publication about how Dell was going to move most of its factories to China.

00:13:55.000 So I walked up to Michael Dell at a Smart Growth Land Grab conference.

00:13:59.000 He was heading up here in Austin.

00:14:01.000 I said, well, I read you're going to move in the next five years most of your factories to China. 0.99

00:14:05.000 He just laughed at me and said, you're a liar. 0.86

00:14:07.000 And then just gave me the most devilish smile and just laughed at me. 0.98

00:14:10.000 It's a big joke. 0.99

00:14:12.000 Because he knows and the insiders know This nation was born to be butchered like a fat hog. 0.98

00:14:20.000 And then these delionaires, people that, you know, had Delstock and think they're rich, they call into my show and say, Dad, he's telling the truth, you're a liar, and we're an American company, and we're going to do great, and they're just arrogant, full of themselves, self-assured. 0.98

00:14:38.000 It's delusional.

00:14:41.000 I haven't walked around self-assured and delusional since I was about three years old, imagining that I was a superhero on the back porch on a sunny spring day, and then I had self-awareness suddenly happen, and I realized there's this giant world, a universe around me, I'm an individual, I don't really count unless I make myself count, and that it was embarrassing to be imagining that I was a superhero, jumping off the back steps.

00:15:05.000 These adults, though, folks, They are like three-year-olds that never woke up.

00:15:10.000 It's dress-up.

00:15:11.000 It's playland.

00:15:12.000 All these people going to the steakhouses and the golf courses with their heads up in the air and looking at each other, looking at each other's jewelry and just all into it.

00:15:21.000 And I'm not even saying things are bad, but the worshiping of it.

00:15:24.000 To the point of where you worship things so much, you buy into a fraudulent stock market system and you buy into a system that was designed to totally steal all of our real wealth and with leveraged Fiat currency make us from the richest surplus nation, greatest manufacturing, greatest patents, ideas, best universities, most informed, intelligent, dynamic people, to being what we are now.

00:15:50.000 People who bought into lies, bought into frauds.

00:15:53.000 There's been millions of lies.

00:15:54.000 We've all bought into them.

00:15:57.000 And now, we are in the slaughterhouse, being brought through the slaughter pens economically, and a lot of these bovine Two-legged cows don't even know they're in a slaughter pen.

00:16:09.000 They don't even know history.

00:16:11.000 They are still giggling and smirking and laughing.

00:16:17.000 And the sick thing about it is we could have turned this around at any time.

00:16:21.000 Now, you probably can't turn it around.

00:16:26.000 I mean, they're bringing down the gas-powered bolt.

00:16:29.000 Air-powered bolt. 0.65

00:16:31.000 Big ol' hammer to knock us right in the head. 1.00

00:16:34.000 Then hang us up by our hind legs and slit our throat, wait us out. 0.99

00:16:38.000 It's very painful to me to see this happening. 0.99

00:16:44.000 Very painful.

00:16:46.000 To see this happening and developing.

00:16:52.000 But this is what happens to decadent, evil countries of self-assured ne'er-do-wells.

00:16:58.000 The problem is there's a lot of good people in this nation A lot of people that have fought against this evil and corruption have been laughed at, and we don't deserve this.

00:17:06.000 We don't deserve this to happen to us.

00:17:12.000 But, c'est la vie, we'll see what happens.

00:17:18.000 This is from PrisonPlanet.com, Paul Watson, excellent analysis article.

00:17:22.000 You could read this story and get more than you'd get from reading 30 MSNBC stories or CNBC stories.

00:17:28.000 Run on the bank, Americans could lose their deposits.

00:17:31.000 You know it's bad when Yahoo.com features a story about fiscal Armageddon.

00:17:36.000 Well, so is CNN, so is CNBC.

00:17:38.000 You know things are bad when Yahoo, the most trafficked website in the world and usually a purveyor of mindless celebrity gossip, cooking tips and dating advice features a top story about how Americans could lose their bank deposits following the collapse of Lehman Brothers.

00:17:55.000 By the way, Goldman Sachs is about to go under today.

00:17:58.000 I mean, that's just what I mean.

00:17:59.000 This is a daily...

00:18:00.000 One of these could bring down an economy. 0.72

00:18:03.000 And it's every day another one falls.

00:18:08.000 I mean, this is the biggest bank robbery in world history.

00:18:11.000 And the media, again, nothing illegal's been done.

00:18:14.000 Nothing bad was done.

00:18:15.000 The banks are good.

00:18:17.000 It's slack-jawed citizens who went and lied on their applications.

00:18:23.000 They were told to do that.

00:18:25.000 The whole system was...

00:18:26.000 and that was only one small part of this.

00:18:28.000 This... that isn't what's bringing things down.

00:18:29.000 That's only two hundred million dollars.

00:18:34.000 It's the entire system was rigged.

00:18:38.000 And they've taken trillions of dollars and leveraged that out.

00:18:42.000 That's the problem.

00:18:45.000 But the public turns on their TV and...

00:18:48.000 and still tunes into the same Business news channels that have lied to them all these years and...

00:18:52.000 Tell me what to do now!

00:18:54.000 Tell me what to do now!

00:18:57.000 Barack Obama!

00:18:58.000 John McCain!

00:18:59.000 Save me!

00:19:00.000 Save me!

00:19:00.000 Sarah Palin!

00:19:02.000 Run on the bank! 0.99

00:19:03.000 You know things are bad when you're on the most crowded website in the world and usually prepare a mindless celebrity gossip that writes a story about how Americans could lose their bank deposits following the collapse of Lehman Brothers.

00:19:15.000 For the internet giant to prominently report that there is already a slow-motion run on banks is indeed a landmark event.

00:19:23.000 That's what I called it, slow-motion run on banks about a year ago, and precludes even that it's a slow-motion Red Dawn.

00:19:29.000 But it's not Soviets taking over, it's NORTHCOM and the Pentagon eating America. 0.63

00:19:34.000 This is all being militarily run, with precision, bringing the economic structure down as they suck up the pieces. 0.95

00:19:43.000 And precludes even the most ignorant American from claiming they were not forewarned about the unfolding economic catastrophe. 0.67

00:19:50.000 I'm going to run through the economic news, then we're going to have Dr. Paul Craig Robertson and the Nobel Prize winner Joseph Stiglitz. 0.95

00:19:57.000 I'm Alex Jones.

00:19:58.000 Stay with me.

00:20:00.000 Today, unlike any other in the long course of American history, a terrorist act of war against this country.

00:20:07.000 The enemy struck America on September 11th.

00:20:10.000 But who is the enemy?

00:20:11.000 Bin Laden.

00:20:12.000 This is his M.O. We have to look to the Middle East.

00:20:15.000 We have to look to Osama Bin Laden. 0.93

00:20:17.000 Fabled Enemies is the first 9-11 film to take a close look at the terrorist ties to intelligence networks inside the United States.

00:20:24.000 Some U.S. investigators believe that there are Israelis again very much engaged in spying in and on the U.S. I'm aware that some Israeli citizens have been detained.

00:20:34.000 Bin Laden's connections to the CIA, the hijackers'ties to the FBI, the Saudi Arabian connection, the Israeli Intelligence Network, Warnings and War Games, the shadow government, and much, much more.

00:20:45.000 Either you are with us, or you are with the terrorists.

00:21:00.000 When making important financial decisions, you should always know the facts.

00:21:05.000 That's why Midas Resources is willing to pay you to read the facts.

00:21:08.000 Midas Resources, a team of hand-picked financial specialists with decades of financial experience who are ready to provide you with state-of-the-art, up-to-date financial services.

00:21:17.000 Midas Resources offers a host of services and stands behind their products.

00:21:22.000 In fact, if you call and order their free Midas report, Midas Resources will pay you.

00:21:27.000 This detailed report will provide you with financial history on the safest and most profitable areas to invest in.

00:21:32.000 If you read the report, Midas Resources will send you a free Walking Liberty Silver Half Dollar.

00:21:37.000 So what are you waiting for?

00:21:39.000 Get the fax and call Midas Resources toll free at 888-292-2709.

00:21:45.000 That's 888-292-2709.

00:21:48.000 And remember, if you read the Midas Report, you'll receive a free Walking Liberty Silver Half Dollar.

00:21:54.000 The Midas Report You know, as a father and a husband, one of the enjoyable things in my life has been walking in at night and checking on my children, checking up on my wife, making sure she has the things she needs, but mostly providing for my family and knowing that they're secure, that they feel comfortable every day in their little skins.

00:22:16.000 They don't have to worry about the oddities of the world taking over and wrecking their lives.

00:22:20.000 I've always wanted to be a good provider, and I'm not going to change that now just because the economy's in upheaval and because there's a lot of political and social uncertainty, and I hear about global warming We're good.

00:22:34.000 Electricity is going to go way up.

00:22:35.000 I'm told this winter, hey, I'm not going to sweat it.

00:22:37.000 I've done the right thing.

00:22:38.000 I got rid of a bunch of junk and toys out in the garage.

00:22:41.000 I converted that money into food.

00:22:42.000 That food's out there.

00:22:43.000 I've got a two or three year supply of food in the garage.

00:22:45.000 My family's secure.

00:22:46.000 I don't got to worry, okay?

00:22:47.000 I do hope that you'll join me in this new sense of American security.

00:22:50.000 Call eFoodsDirect.com.

00:22:52.000 That's eFoodsDirect.com or 1-800-409-5633.

00:22:56.000 That's 800-409-5633.

00:22:59.000 Even today you'll be glad you did.

00:23:01.000 Did you know that it's a documented fact 80% of all Americans and 85% of people around the world suffer from internal parasites and parasitic infection?

00:23:10.000 You may be one of millions of people suffering from one of dozens of debilitating chronic diseases from these parasites and your doctor would never know it.

00:23:18.000 In fact, clinically detected parasites account for only 1% of all cases.

00:23:23.000 Don't continue to suffer from pain due to misdiagnosis.

00:23:25.000 Now you can fight internal parasites, heavy metal poisoning and high cholesterol.

00:23:30.000 and safely by mixing fossilized phytoplankton powder, also known as FPP, with your favorite beverage once a day.

00:23:37.000 FPP is used around the world, has numerous uses, and is now available to you from Freshwater Organics.

00:23:43.000 FPP strengthens skin, hair, and bones, lowers cholesterol, and is an excellent source of natural plant-based silica with 14 trace minerals.

00:23:51.000 Order some today at FreshwaterOrganics.com.

00:23:54.000 Again, that's FreshwaterOrganics.com.

00:23:57.000 Or call 888-949-350.

00:23:59.000 570. 570.

00:24:10.000 In constant sorrow Through his day I am the man of constant sorrow I've seen trouble all my days I bid farewell

00:24:39.000 All right, so...

00:24:41.000 Mainstream media is saying, run on banks.

00:24:44.000 The article points out that although the Federal Deposit Insurance Corporation guarantees individual accounts up to $100,000, the FDIC not only has about $50 billion to insure, about $1 trillion in assets across the nation's financial Institutions.

00:25:00.000 One trillion in assets.

00:25:02.000 It's a lot more than that that's in trouble.

00:25:05.000 I mean it.

00:25:06.000 Fannie Mae and Freddie Mac, it's fifty-something trillion on the books and that's leveraged out thousands of trillions.

00:25:15.000 That's what these bankers did.

00:25:16.000 They just created out of nothing all this liquidity so they could buy the world up.

00:25:23.000 But now they want to fully implode the economy so they can buy up the pieces.

00:25:29.000 And NORTHCOM is there to make sure that happens.

00:25:33.000 God, our military totally turned against us.

00:25:36.000 Trained by all the TV and movies that we're the enemy.

00:25:39.000 God help us. 0.87

00:25:42.000 They trained the police that there's thousands of white Al-Qaeda everywhere about to attack, that white people are Al-Qaeda. 0.96

00:25:48.000 First, it's just those brown people and the racists get behind that and then, well, it's actually you.

00:25:53.000 When Americans realize the fact that banks are going to run out of money, the article nonchalantly states, a run on the banks will accelerate.

00:26:01.000 Warning comes from top economist Nouriel Roubini.

00:26:07.000 We've had him on.

00:26:08.000 I want to get him back on, of NYU Stern School of RGE Monitor, who correctly predicted the severity of the credit crunch.

00:26:16.000 He says there is already a slow-motion run on retail banks occurring nationwide.

00:26:21.000 He advises that people with accounts over $100,000 in value should at least spread them out among different firms.

00:26:27.000 The use of such inflammatory language like a run on the bank, especially for the most visited website on the entire planet, is a phenomenon, and other news websites, as well as financial advisors, have been cautious to use such terms in an effort to prevent panic.

00:26:41.000 For example, we read in today's Seattle Post intelligence, sir, that Sarah Hassan, an analyst with Seattle's McAdams-Wright Reagan, Inc., said she didn't even want to use the word run on a bank during an interview because these are very touchy times.

00:26:54.000 Other advisors are more upfront with their warnings.

00:26:58.000 First off, go ahead and make a run on your banks.

00:27:01.000 If you have money with a brokerage firm or a bank that is in trouble, get your money the heck out of there, writes Joe Ponzio.

00:27:10.000 In reality, I don't want to cause a run on banks, but I wouldn't prevent one by saying that everything is fine and that you shouldn't wait until it's too late.

00:27:25.000 Good God.

00:27:27.000 And it just goes on.

00:27:32.000 You ought to read the comments on it.

00:27:34.000 That's really what's interesting.

00:27:36.000 They're on PrisonPlanet.com.

00:27:39.000 Stocks slide at the open.

00:27:41.000 Markets follow the worst pounding in years with further declines.

00:27:44.000 500 points yesterday.

00:27:45.000 Hundreds of more points today, up and down since then, as Goldman Sachs reports disappointments.

00:27:50.000 And then the disappointment is billions and billions in losses, which signal the other banks going under.

00:27:58.000 Oh boy.

00:27:59.000 Stocks slipped Tuesday morning as investors considered Goldman Sachs' mixed profit report at the latest Federal Reserve policy meeting after the previous session's brutal sell-off.

00:28:10.000 The Dow Jones Industrial Average, the Standard& Poor's 500 Index, and the Nasdaq Composite all declined in early going.

00:28:18.000 Goldman Sachs reported earnings of a third quarter which missed analysts' expectations for revenue.

00:28:25.000 It goes on.

00:28:26.000 The financial firm reported revenue of $6.4 billion, a net profit of $845 million, or $1.81 per share.

00:28:34.000 It goes on.

00:28:36.000 Among other early movers, Lehman shares inched higher.

00:28:40.000 The open trading Bank of America lost 5%.

00:28:42.000 Merrill Lynch inched higher as AIG lost under 65%.

00:28:45.000 Black Monday, Goldman's financial challenges pale when compared to other firms.

00:28:52.000 And it goes over what happened on Monday, 2001, on that Black Monday, September 17, 2001.

00:29:04.000 But that happened once!

00:29:05.000 It didn't happen every day.

00:29:07.000 It didn't happen every day.

00:29:13.000 That's the difference.

00:29:16.000 Is that we have Fannie Mae and Freddie Mac.

00:29:19.000 Tens of trillions of dollars.

00:29:22.000 Leveraged out illegally.

00:29:24.000 And every other type of commodity and market and security you can imagine.

00:29:29.000 Their books are secret.

00:29:31.000 It's just wholesale stealing and fraud and crime.

00:29:37.000 We're going to talk to the former Wall Street Journal editor, former head of the Treasury, father of Reaganomics, Dr. Paul Craig Roberts on the other side.

00:29:48.000 Infowars.com is the website.

00:29:51.000 We're on the march.

00:29:52.000 The empire's on the run.

00:29:55.000 Alex Jones and the GCN Radio Network.

00:30:01.000 Terror Storm, a history of government-sponsored terror.

00:30:04.000 Loose change, final cut.

00:30:05.000 Endgame, blueprint for global enslavement.

00:30:07.000 The truth story of the Bilderberg Group.

00:30:09.000 The late, great USA.

00:30:11.000 America, freedom to fascism.

00:30:13.000 These are just a few of the hundreds of powerful documentary films and books available at truthnews.us and prisonplanet.com.

00:30:20.000 When you visit prisonplanet.com, you can connect to our amazing online store.

00:30:24.000 Whether you're looking for survival and wellness products like Berkey water filters, or you would like a book on the history of the Federal Reserve, we've got the most well-researched and documented titles, all available at PrisonPlanet.com.

00:30:35.000 Or if you'd like, you can give the InfoWars store a call at 888-253-3139.

00:30:40.000 Or you can view more than 1,000 titles in super high quality right now at PrisonPlanet.tv.

00:30:46.000 Knowledge is power, and the information you need to effectively wake up your fellow man and fight the new world order is available right now at TruthNews.us and PrisonPlanet.tv.

00:30:57.000 Join the InfoWars today.

00:31:03.000 First, I get the best parking space at work.

00:31:06.000 Tonight, I have a date with a very lovely Rachel.

00:31:09.000 And today, I gave a killer presentation in Sydney, finalized a contract in London, and demoed our new product in Boston.

00:31:16.000 Online, from my desk, with Webex.

00:31:18.000 Webex lets me take meetings and give presentations from my desk.

00:31:22.000 I just talk to clients on the phone, and they watch what's happening on my desktop from their desktop.

00:31:26.000 So I can travel the world and still be here for my dates.

00:31:29.000 Tonight with Rachel.

00:31:31.000 Travel less, meet online.

00:31:32.000 Go to Webex.com and try Webex free.

00:31:35.000 Just click the radiographic and enter promo code 500 to get a free trial and a free webcam too.

00:31:41.000 Remember that code, 500, to qualify for the free webcam.

00:31:45.000 Webex, now part of Cisco and used by more than five and a half million people every month.

00:31:49.000 Give it a try, free.

00:31:51.000 Go to Webex.com and enter the promo code 500, W-E-B-E-X.com.

00:31:56.000 Free webcams available while supplies last.

00:31:58.000 Terms and restrictions apply.

00:31:58.000 Yes, sir.

00:32:00.000 Attention, this is an extremely urgent self-reliant news bulletin.

00:32:04.000 If you have ever wanted to produce your own cheaper-than-dirt survival food, this is going to be the most important message you will ever hear.

00:32:11.000 Here is why.

00:32:13.000 This network has just learned of a new video course that reveals the secrets of how to safely prepare and store all types of survival foods in an event of social unrest and food shortages here in the U.S. Grain shortages and hunger are spreading across the globe.

00:32:26.000 Will troops guard the food supplies in the U.S. this fall?

00:32:29.000 Don't waste.

00:32:30.000 Learn the food shortage skills that can keep you and your family alive in a crisis.

00:32:34.000 Get the details at FoodShortageUSA.com.

00:32:37.000 That's FoodShortageUSA.com.

00:32:40.000 Or you can call toll free 877-327-0365.

00:32:45.000 Don't wait for empty shelves.

00:32:47.000 Go to FoodShortageUSA.com while you still have time.

00:32:50.000 www.FoodShortageUSA.com or toll free at 877-327-0365.

00:32:58.000 Act now!

00:33:01.000 Crashing through the lies and disinformation.

00:33:05.000 It's Alex Jones, only on the GCN Radio Network.

00:33:13.000 We are seeing Enron-level collapses every day.

00:33:18.000 Fannie Mae, Freddie Mac going into receivership with the Treasury.

00:33:22.000 Dr. Roberts, former Wall Street Journal editor, head of policy, department of the Treasury, father of Reaganomics, Joseph Stiklitz, Nobel Prize winner in economics, joining us in the next hour, author of The Three Trillion Dollar War.

00:33:36.000 But Dr. Roberts said he didn't know if the Treasury would be able to even sustain this and not go bankrupt itself or not have the world see it as insolvent last week when he joined us when Fannie Mae and Freddie Mac got in so much trouble, and now we've seen all these other major brokerage firms in deep trouble.

00:33:58.000 Goldman Sachs now in trouble today.

00:34:02.000 Of course, everybody knows what happened yesterday with another major firm going under.

00:34:08.000 Bank of America buying another firm.

00:34:11.000 This is just really getting serious.

00:34:16.000 And to answer the question from last week, we have confirmed, it has been confirmed, the Treasury is backing the securities out of Fannie Mae and Freddie Mac that were sold, and so those are now government-backed, not just the bad mortgages and jumbo loans of above $500,000.

00:34:34.000 So for this one segment, we are joined by Dr. Paul Craig Roberts, author of, and the second edition just came out, The Tyranny of Good Intentions.

00:34:43.000 Thanks for coming on.

00:34:48.000 Dr. Roberts, where do you see things going here?

00:34:53.000 Well, Alex, there's been a lot of concentration in the financial sector.

00:35:03.000 It looks like the end of independent broker-dealers, and so we're moving into what Marx or Lenin or somebody would have called a financial monopoly.

00:35:16.000 capitalism this concentration is what it will take I guess to prevent this from unraveling happened was all of this in my opinion is consequence of too were deregulated to the point that

00:35:46.000 Capitalism. These independent broker-dealers like Goldman Sachs and Lehman Brothers, Bear Stearns, they did not have enough capitalization to back the risk that they assumed in these new deregulated financial instruments like subprime derivatives, collateral debt, obligations.

00:36:11.000 No one really knew what the value of these things were because the risk had never been analyzed.

00:36:18.000 And so they lacked the capitalization to sustain the risk.

00:36:26.000 And so they seem to be, for the most part, going out of business.

00:36:32.000 I don't know that it means anything other than just more concentration.

00:36:37.000 It's kind of like the deregulation of the airlines.

00:36:40.000 We've got fewer and fewer airlines.

00:36:44.000 A lot of deregulation happened when the pendulum swung against over-regulation and went too far in the other direction.

00:36:53.000 It became an ideology.

00:36:56.000 You know, the deregulation of electric power gave us Enron.

00:37:00.000 So I don't think it means the end of the world.

00:37:04.000 I think we have to have some Concerned that the Treasury's assumption of the Fannie Mae and Freddie Mac risk, since we don't really know what those risks are, that the Treasury could possibly impair its own credit standing.

00:37:22.000 It might no longer be seen as the safest government bond.

00:37:28.000 It may fall below any number of European countries or Japan.

00:37:34.000 And it's ranking, but I don't think it means necessarily the end of the United States.

00:37:39.000 The problems that we face that are more serious than this financial trouble that we're experiencing is the budget deficit and the trade deficit.

00:37:53.000 And these are pushed into the background.

00:37:56.000 They're kind of submerged because of the focus on the current issue.

00:38:02.000 There are the more serious problems, because how can you close a trade deficit, which could be approaching a trillion dollars a year, when you don't have factories, when you don't have anything to sell because you're offshoring, not just the manufactured goods, but also the tradable services, research, the development, the engineering.

00:38:25.000 Just recently, Duke University has issued a report that these high High value added services that were considered too proprietary, too much of the core business to be outsourced abroad are now being moved offshore.

00:38:45.000 So we don't just lose the tradable goods, we lose the tradable services.

00:38:50.000 So how do you close that deficit?

00:38:52.000 Well, even weapons development outfits aren't just building the cluster bombs and tanks and weapon systems offshore.

00:39:01.000 They are now, as you said, having different research and development done, even in, quote, enemy countries like, quote, Communist China.

00:39:09.000 Right. There's no reason for us to worry about that.

00:39:13.000 In fact, it might be one way we can curtail the war-making proclivities of the Republicans.

00:39:18.000 Well, let me ask you this, Dr. Roberts.

00:39:21.000 Yeah. We're talking to a syndicated columnist, author, and of course he's an economist, a former head of policy department of the Treasury, Dr. Paul Kirk Roberts.

00:39:34.000 Doesn't it also increase the deficit to have the Treasury bailing out all these quote financial institutions?

00:39:41.000 Right. And then further devalue the dollar down the road?

00:39:45.000 That's right.

00:39:47.000 It increases The budget deficits.

00:39:49.000 We have the two deficits.

00:39:50.000 The trade deficits and the budget deficits.

00:39:53.000 So when the Treasury assumes these responsibilities, it's like the Congressional Budget Office said the other day that the revenues now of Fannie Mae and Freddie Mac should be included in the federal budget.

00:40:06.000 And their expenditures should be included.

00:40:10.000 Well, obviously, the expenditures are greater than the revenues.

00:40:13.000 That's why they had to be taken over.

00:40:15.000 So, yes, That will automatically increase the amount of money the Treasury has to borrow every year for the federal government to operate.

00:40:26.000 And that, of course, puts more pressure on the dollar.

00:40:31.000 At some point, the rest of the world, which is financing us, realizes that there are just too many dollar obligations for them to be good.

00:40:43.000 And when they stop buying the bonds, that's when reality hits Americans, and when it hits Washington.

00:40:51.000 Because then they realize, hey, you know, we've been dependent all this time on foreigners to operate the government on a daily basis, and we've abused that to such an extent, we've scared off the lenders!

00:41:04.000 And that's, those are the problems that are lurking that are far more serious.

00:41:10.000 Then the failure of Lehman Brothers or Merrill Lynch being bought by Micro America or whatever the remaining independent broker dealers who will possibly be pushed into being acquired by some commercial bank.

00:41:28.000 Apparently these big commercial banks, I don't really understand the mechanics of it.

00:41:34.000 I haven't had time to think about it.

00:41:37.000 They feel that these big commercial banks are protected by so many deposits that they...

00:41:43.000 I don't quite know how the accounting works, but somehow this shields the investment parts from being undercapitalized.

00:41:53.000 So... When really what they're doing is infecting everybody's savings and pension funds right now by moving all of this Bad debt and all these dirty securities into Bank of America and others.

00:42:08.000 Well, Bank of America wouldn't have taken this if they didn't see it to be their advantage.

00:42:16.000 You know, sometimes the companies get...

00:42:19.000 Insolvency doesn't always mean the company doesn't have a future when things turn around.

00:42:24.000 It just means it can't last that long.

00:42:27.000 And that's Probably the case.

00:42:30.000 Well, it'd have to be pretty smart to know how all this would work out.

00:42:47.000 Whether it's engineered or not, it is leading to financial concentration.

00:42:53.000 Uh-huh, which is what the elite wants.

00:42:55.000 I mean, could you come up with a more dastardly plan?

00:42:58.000 If you tried to, to offshore our industry, to dumb our population down, to militarize our police, to then run us up to debts, that never before seen even in imperial Rome, and then to set up a domestic police state and have NORTHCOM over the people, and to have our new industry be prisons and military, I mean, that's really...

00:43:21.000 I mean, you talk about the greater threat being our trade deficit, and I agree with you, but even if everything fell apart tomorrow and we had a depression, If we had liberty and some free market system, we could build it back up, but if all we have is North Com and the prison system left, and a lazy population, I don't see us ever digging out of that. 0.91

00:43:42.000 I see us becoming a banana republic, Dr. Roberts.

00:43:45.000 Well, Alex, if I was this elite and I was that clever, I would rather be Taking the cream off the top of a highly prosperous and successful country.

00:43:55.000 I don't see how it would be my advantage to run it into the ground.

00:44:00.000 So, this I think is what's problematic about the elite wanting to destroy the country.

00:44:09.000 I can see that we want to have power and more control, but they certainly don't gain from creating a situation in which they can't borrow money.

00:44:22.000 Well, Alex, I don't think they planned to get everybody in debt.

00:44:43.000 What they did, they fooled themselves with free trade theory and faulted all shoring. 1.00

00:44:48.000 was free trade and that we would benefit.

00:44:50.000 And when they found out what they were really doing is killing consumer demand because people were losing the jobs and the income, then they said, oh, well, we can substitute low interest rates.

00:45:02.000 And a housing boom, if we drive up their housing prices, they'll be richer, they can refinance them, and spend the money.

00:45:09.000 And we'll have a service economy, and we'll call putting a hamburger together manufacturing.

00:45:14.000 So I think it's really just a low grade of fault rather than a supermind.

00:45:19.000 I mean, what is Homeland Security all about?

00:45:22.000 I mean, you've written a book about it.

00:45:24.000 You know it's martial law.

00:45:25.000 You know they're gearing up for it.

00:45:26.000 They admit they are.

00:45:28.000 Both parties are bought and paid for by the same interest.

00:45:30.000 I mean, what is all that for?

00:45:32.000 That question deserves far more attention than it gets.

00:45:38.000 It's obviously not about terrorists, which there aren't any.

00:45:42.000 And I would say that...

00:45:46.000 The police agencies never want to be accountable.

00:45:50.000 They never want accountability.

00:45:52.000 You know, years ago in New York we were trying to have police review boards and the police were fussing, the conservatives were fussing, this would make the police ineffectual and all that.

00:46:05.000 They don't like accountability and so they've always got some kind of legislation on hand It makes them less accountable and gives them more power, and they use whatever happens to advance that.

00:46:19.000 Because the Patriot Act, for example, was written long, long before 9-11, and even before anybody planned 9-11, because it was waiting for an opportunity.

00:46:32.000 So they always want to be unaccountable.

00:46:35.000 They don't like accountability.

00:46:37.000 No, that's right.

00:46:38.000 Viet Dinh and Ashcroft and Chertoff, they admittedly just bundled a lot of other laws they'd already tried to pass.

00:46:48.000 I mean, that's admitted, some of it written in the 80s, and just stuck it all together and then passed it.

00:46:53.000 That's right.

00:46:55.000 And of course, the law and order conservatives who think that crime is rampant, they always want the police to have more power and be less accountable.

00:47:05.000 So there's so many factors out there pushing for unaccountability that Just like on the economy.

00:47:12.000 So where do you see the economy going?

00:47:14.000 I mean, this looks like...

00:47:16.000 Well, that's another very important question.

00:47:18.000 You know, in the past, when we had a recession, we had a recession because the economy heated up, inflation moved up, the Fed cut down on the money supply, sales fell off, inventories built, firms laid off workers, and then when the recession set in, the Fed would switch gears and lower the interest rates again.

00:47:40.000 Get the credit out, and things would pick back up, and sales would pick up, and they would rehire the workers.

00:47:46.000 Well, that's not what we've got anymore.

00:47:50.000 The jobs are gone.

00:47:51.000 They're offshore.

00:47:53.000 The consumer is overloaded with debt.

00:47:57.000 Credit card debt, mortgage debt.

00:48:00.000 You can't get any more consumer demand out of debt expansion.

00:48:06.000 They don't have any ability to bear any more debt.

00:48:09.000 And the jobs are gone, so they can't pull those back with an anti-recessionary policy.

00:48:16.000 So the question is, what will cause the economy to pick up?

00:48:21.000 I think that that's an open question.

00:48:23.000 I don't know what...

00:48:23.000 And maybe that's why they want to start a World War threat.

00:48:26.000 Well, you know, since they have no way to finance the war except foreign borrowing, I don't know if the foreigners want us to Well, what about this?

00:48:52.000 They're not even talking about prosecuting anybody or even investigating to prosecute with all the scams that have been going on.

00:48:59.000 I mean, that's another dangerous sign right there.

00:49:02.000 Yes, I think it is.

00:49:03.000 And the fact that Cheney's lawyer...

00:49:08.000 Boyd, the signature of the Attorney General on a document that the Department of Justice would not approve.

00:49:17.000 You know, this is now...

00:49:18.000 And now it just came out.

00:49:19.000 Tens of millions of fines under Cheney's orders when he headed up Halliburton to Nigeria and nothing happens.

00:49:25.000 It comes out in major papers.

00:49:27.000 I mean, exactly.

00:49:29.000 It's like corruption is just running rampant.

00:49:32.000 There's a lack of any kind of accountability.

00:49:35.000 And this is an extremely serious problem for the social and political order, for the legal order.

00:49:44.000 It's like the laws just are not applied.

00:49:49.000 They're not enforced.

00:49:51.000 And it's very difficult to describe a socio-political system that doesn't apply its own laws.

00:50:01.000 It's a kleptocracy.

00:50:02.000 It's a selectively enforced system.

00:50:04.000 Cleptocracy, where the elite are above the law, but then write unconstitutional laws for we the people.

00:50:13.000 Well, you see, not all the elite above.

00:50:15.000 I mean, Lehman Brothers has to be the elite, and they're going down the tube.

00:50:21.000 Merrill Lynch is the most famous brokerage firm in the world, and they had to become part of a commercial bank.

00:50:29.000 So it's just difficult to understand, other than the American people don't seem to have any real awareness of what is transpiring and of the risk to the kind of social economic system they live in and to them personally.

00:50:46.000 And so it seems like what we are witnessing is a dissolution.

00:50:53.000 A mass mental illness.

00:50:54.000 Stay there, stay there. 0.99

00:50:55.000 We've got a break.

00:50:56.000 Stay there for one second.

00:50:56.000 I want to say bye to you during the break.

00:51:01.000 Today, unlike any other in the long course of American history, a terrorist act of war against this country.

00:51:08.000 The enemy struck America on September 11th.

00:51:10.000 But who is the enemy?

00:51:12.000 Bin Laden.

00:51:13.000 This is his M.O. We have to look to the Middle East.

00:51:15.000 We have to look to Osama Bin Laden. 0.93

00:51:17.000 Fabled Enemies is the first 9-11 film to take a close look at the terrorist ties to intelligence networks inside the United States.

00:51:24.000 Some U.S. investigators believe that there are Israelis again very much engaged in spying in and on the U.S. I'm aware that some Israeli citizens have been detained.

00:51:34.000 Bin Laden's connections to the CIA, the hijackers'ties to the FBI, the Saudi Arabian connection, the Israeli Intelligence Network, Warnings and War Games, the shadow government, and much, much more.

00:51:46.000 Either you are with us or you are with the terrorists.

00:52:01.000 Do you want to pay for the government bailout of Fannie Mae and Freddie Mac?

00:52:05.000 You may have no choice.

00:52:07.000 Obviously, taxpayers are on the hook for over $6 trillion.

00:52:10.000 That's right, trillion dollars in mortgages held by these two corporations.

00:52:14.000 The part that most people don't realize is that this bailout can have significant adverse effects on their 401ks and IRAs.

00:52:22.000 Unless you're planning to help pay for this bailout with your personal retirement funds, you need to act now.

00:52:27.000 The solution is to fund a self-directed IRA with gold and silver.

00:52:31.000 Put your retirement money beyond the reach of government financiers today by calling 1-866-323-5665.

00:52:39.000 SafeGrow IRAs are just a phone call away.

00:52:42.000 That's 1-866-323-5665.

00:52:46.000 Microgym and Midas resources can help you protect your retirement nest egg.

00:52:50.000 Get informed and ask for our free report on the unseen fallout of the Fannie Freddie rescue.

00:52:55.000 Call 1-866-323-5665.

00:53:01.000 Every week, thousands of violent crimes are committed.

00:53:04.000 Don't let yourself become a statistic.

00:53:06.000 Be smart.

00:53:07.000 Be safe.

00:53:08.000 Trust pepper spray instead of your luck.

00:53:10.000 Pepperspray.com is the only website you'll ever need for all of your non-lethal self-defense supplies.

00:53:16.000 Pepperspray.com carries one of the largest assortments of pepper spray and personal safety products on the web.

00:53:21.000 From big to small, we have it all.

00:53:24.000 Pepperspray, mace, animal repellents, stun guns, and tasers.

00:53:27.000 Pepperspray.com also carries a large assortment of products for personal, home, child, and pet safety.

00:53:33.000 Pepperspray.com has great news for outdoor enthusiasts.

00:53:36.000 Now you can protect yourself against possible animal attacks with Pienso que un sueño parasito no volverá más We're

00:54:22.000 going to finish up Dr. Roberts' comment, and then we've got Joseph Stiglitz coming up, Nobel Prize winner for economics.

00:54:30.000 He's been forecasting what we're now We're getting to see happen, basically saying a lot of the same things Dr. Roberts is saying.

00:54:36.000 They have different theories about how to implement things.

00:54:38.000 They both agree on unaccountability.

00:54:41.000 Corruption is the source of it.

00:54:43.000 And during the break, we were talking to Dr. Roberts about, I was saying, what's the felt?

00:54:46.000 Where does all this flow?

00:54:47.000 And you were saying hubris, arrogance, just delusional megalomania, I guess.

00:54:54.000 And I agree with you, the greater threat is just the basic unaccountability by the system itself and a kind of Delusion!

00:55:02.000 So, finishing up your statement.

00:55:05.000 Yes, that's right. 0.96

00:55:06.000 It's ignorance and hubris.

00:55:08.000 It's true of the investment banks, for example.

00:55:11.000 I mean, there's no accountability there.

00:55:13.000 They took shameless risks.

00:55:16.000 No institution with integrity would have taken those kinds of risks.

00:55:24.000 driven.

00:55:28.000 Government would take the kind of risk with its finances or its diplomacy as the United States government has taken the last eight years.

00:55:38.000 And the fact that the law is not applied shows a complete lack of legal accountability.

00:55:47.000 I mean, where are the bar associations?

00:55:50.000 Where are the law schools?

00:55:53.000 Why aren't justices speaking out?

00:55:57.000 Where are the Judiciary Committees of Congress?

00:56:01.000 There's just no accountability.

00:56:05.000 The whole idea seems to be, oh, well, we have to deal with terrorists.

00:56:09.000 How can we be accountable?

00:56:11.000 Oh, if we don't improve our bottom line, shareholders will bring suits, or some takeover artist will show up on the doorstep.

00:56:24.000 There's just the total lack of accountability Well, it's the same thing that we've seen over and over again throughout history, just magnified in our current situation.

00:56:34.000 I mean, take the surge.

00:56:35.000 The surge, admittedly, was tens of billions of dollars of $100 bills on pallets paid off of the warlords, and then it's come out in the news.

00:56:44.000 I reported it two years before it was in the news that they give privates $30,000 But that's to corrupt them.

00:56:50.000 They give colonels a hundred thousand, they give millions to generals, and then they kill all these army inspectors and people looking into corruption.

00:56:58.000 I mean, this is...

00:56:59.000 It's like General Amazade when he threatened General Togumbu in the car, saying, you're being investigated.

00:57:05.000 And Togumbu, investigating Abu Ghraib, said, it was then I realized I wasn't in the army anymore, I was in the mafia.

00:57:14.000 Good report.

00:57:15.000 Yes, I think you're...

00:57:17.000 You're right to be suspicious, and it's a good thing that you report these things, otherwise people simply will not know about them.

00:57:27.000 So, just to sum up briefly, this is a financial mess, but the real mess is submerged, and that's the two ongoing deficits, the budget and trade deficits.

00:57:42.000 What ways do they have of closing them?

00:57:46.000 Clear they have any at all.

00:57:49.000 I suspect that when the next dollar crisis hits and they start having trouble selling their bonds, financing the government, that they will make a run at private pensions.

00:58:03.000 They will simply say, as my successor in the Treasury, a Clinton appointee, said, That the build-up of private pensions is tax-free, and therefore there should be a capital levy on the private pensions to make up for the tax-free build-up.

00:58:25.000 In other words, the government should go in and recoup the tax-free build-up in the pensions with a capital levy.

00:58:37.000 Amazing. We're out of time, Dr. Roberts.

00:58:40.000 Thank you for listening to GCN.

00:58:40.000 Thank you.

00:58:45.000 Visit GCNlive.com today.

00:58:51.000 On September 11, 2001, along with hundreds of my fellow troops, I went to Ground Zero and we knew what to do.

00:58:59.000 Or at least we thought we did.

00:59:00.000 Truth Rising is a breakthrough 9-11 film that finally gives first responders a platform to tell their story.

00:59:07.000 Whitman, EPA director on the 18th, made a statement.

00:59:13.000 That the air was safe to breathe.

00:59:16.000 This film follows the growing momentum of 9-11 Truth as brave souls throughout the world take action against their global masters.

00:59:23.000 He had his hand over the radio while he was getting a countdown.

00:59:26.000 He takes his hand off and you hear 3, 2, 1, and it was boom, boom, boom, boom, boom!

00:59:32.000 This is an emergency transmission worldwide.

00:59:35.000 Download Truth Rising at PrisonPlanet.tv and aggressively spread it worldwide.

00:59:41.000 Or order the DVD at If we don't expose the government-sponsored terror, they're going to commit more acts and bring in martial law.

00:59:53.000 Waging war on corruption.

00:59:56.000 Alex Jones on the GCN Radio Network.

00:59:59.000 Alex Jones on the GCN Radio Network.

01:00:04.000 Big Brother.

01:00:06.000 Mainstream media.

01:00:08.000 Government cover-ups.

01:00:10.000 You want answers?

01:00:11.000 Well, so does he.

01:00:13.000 He's Alex Jones on the GCN Radio Network.

01:00:17.000 And now, live from Austin, Texas, Alex Jones.

01:00:21.000 Look, I've got to say, it could have been It's been a lot worse.

01:00:38.000 A lot of people would say in a scenario where you have several banks.

01:00:41.000 People would have said you get a thousand, you get more.

01:00:45.000 The fact is, it seems relatively well-contained.

01:00:47.000 Bill Gross is with us now, Chief Investment Officer of PIMCO.

01:00:47.000 Let's see.

01:00:50.000 Bill, what do you think the right way to look at this is?

01:00:52.000 The market is afraid or, wow, you know what?

01:00:55.000 If you have a bank no one expected to go out of business and get bought this weekend, another bank declared Chapter 11 and the world's largest insurer Trying to get a Fed lifeline.

01:01:05.000 Things are pretty good considering.

01:01:08.000 Well, I suppose in terms of the stock market, you know, investors are afraid, Erin, but I think in addition there's a technical situation, a technical unwind that's associated with claimant.

01:01:21.000 It's primarily in the credit markets, but it flows through to the stock markets, and that is that credit default swaps and interest rate swaps that were Thank you for having me.

01:01:36.000 and had positions with Lehman, and that includes the street, that includes Goldman Sachs and Merrill Lynch, and includes PIMCO, now are scrambling to re-initiate those positions, and it produces Lots of volatility, lots of uncertainty and technical positions that need to be unwound.

01:01:53.000 Do you have clarity at PIMCO right now about what your potential losses might be?

01:01:59.000 Who the counterparties are?

01:02:00.000 I mean, do you know or are you still trying to figure it out?

01:02:04.000 No, we know exactly who our counterparties are.

01:02:06.000 We know exactly how much we have on with Lehman.

01:02:09.000 We came in over the weekend and determined that.

Alex Jones Show - September 16, 2008

20080916_Tue_Radio

Episode Stats

Summary

Transcript