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Janet Yellen's Christmas Gift to Wall Street

Ron Paul Dec 21, 2014

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Last week we learned that the key to a strong economy is not increased production, lower unemployment, or a sound monetary unit. Rather, economic prosperity depends on the type of language used by the central bank in its monetary policy statements. All it took was one word in the Federal Reserve Bank's press release -- that the Fed would be “patient” in raising interest rates to normal levels -- and stock markets went wild. The S&P 500 and the Dow Jones Industrial Average had their best gains in years, with the Dow gaining nearly 800 points from Wednesday to Friday and the S&P gaining almost 100 points to close within a few points of its all-time high. 
 
Just think of how many trillions of dollars of financial activity occurred solely because of that one new phrase in the Fed's statement. That so much in our economy hangs on one word uttered by one institution demonstrates not only that far too much power is given to the Federal Reserve, but also how unbalanced the American economy really is.
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Bombs Away! Obama Signs Lethal Aid to Ukraine Bill

Daniel McAdams Dec 18, 2014

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President Obama made good today on his promise to sign the Ukraine Freedom Support Act of 2014, which had passed Congress last week. Dubbed by former Rep. Dennis Kucinich the bill that "reignited the Cold War while no one was looking," the Act imposes new sanctions on the Russian defense and energy industries, authorizes $350 million in lethal military assistance to the US-backed government in Kiev, urges that government to resume its deadly military operations against the Russian-speaking areas of east Ukraine seeking to break away from Kiev's rule, and authorizes millions of dollars to fund increased US government propaganda broadcasts to the countries of the former Soviet Union. Just days before Christmas, this bill is a massive gift to the US defense industry from which Ukraine will be required to purchase its lethal wish list.

Perhaps as disturbing as the bill itself is the shocking process by which it passed the US House of Representatives. Three Members of the House, Foreign Affairs Committee Chairman Ed Royce (R-CA), Eliot Engel (D-NY), and Marcy Kaptur (D-OH), planned to be on the House Floor after the business of the day (passage of the massive omnibus spending bill) was completed and Members had left the Floor. 

Under a parliamentary move called "unanimous consent" the normal rules of the House can be suspended provided not a single other Member objects. The solution for these three Members was to ensure that no other Members were present. It would have been difficult for other Members to object anyway, as no one else in the House had even seen the bill! It had only just been introduced and the text was not available.
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Cold War Spy Games Show the Moral Bankruptcy of the US National Security State

Jacob G. Hornberger Dec 20, 2014

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Rolando Sarraff Trujillo, the Cuban government official who was released from prison as part of a spy trade between the US government and Cuba, is being hailed by US officials as a hero. Of course, that’s not the view of the Cuban government, which considers Sarraff a traitor.

At the same time, former US officials Walter Kendall Myers and his spouse Gwendolyn Myers, who spied for Cuba, are considered bad people by the US government. US officials say that by sending classified information to Cuba, they betrayed their country and that that’s why they’re now jailed in a federal penitentiary.

In its story yesterday about Sarraff, the New York Times referred to the “spy vs. spy drama between the United States that played on long after the end of the Cold War and years after Cuba ceased to be a serious threat to the United States.”
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US Overlooks Russia Sanctions Backlash on Own Economy

Dec. 18 - While the US pursues the "nuclear" option of a first strike on the Russian economy -- seeking to depress the price of oil while denying Russia access to international financial markets -- the economic backlash of such a move could well be as dangerous for the US economy. Already the US oil industry is feeling the pain of the price drop that many believe is the result of a US/Saudi deal to put the squeeze on the Russian economy. RPI's Daniel McAdams is on RT today to discuss the implications of the new anti-Russia legislation passed in the dead of night after Members had gone home. 



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A Peace and Prosperity Blog


Russia Sanctions and Shifting Cuba Policy - McAdams and Taylor's Week in Review
President Obama has admitted that sanctions do not work, as he announced a major US policy shift toward Cuba. But he turned around and immediately signed a bill authorizing more sanctions on Russia. There is a big disconnect between rhetoric and actions in the US Administration. The sanctions bill is a huge boost for the US military industrial complex, a $350 million Christmas gift for the Beltway death dealers. Listen to RPI's Daniel McAdams and Jay Taylor discuss the main foreign policy events of the week below, or download the MP3 here.
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Report: Afghanistan War Reaches $1 Trillion And Will Require Hundreds of Billions More
Despite the public pledge of President Obama to pull out of Afghanistan, we continue to spend huge amounts of money in the war and the Obama Administration has fought to keep U.S. troops in the country. Now an estimate from the Financial Times and independent researchers put the cost of the war at roughly $1 trillion with a commitment of hundreds of billions more in the coming years. There continues to be no serious debate over our ongoing losses both in personnel and money in this war.
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New US Bill Arms Ukraine, Adds Sanctions — RPI's McAdams on RT
The House and Senate late last week passed legislation authorizing $350 million in US lethal aid to Ukraine and imposing a new round of sanctions on Russia. Co-author of the bill, Sen. Bob Corker (R-TN), claims the bill is in response to the "Russian invasion of Ukraine." RPI's Daniel McAdams appeared on RT over the weekend to discuss the new legislation as US Secretary of State John Kerry and Russian Foreign Minister Sergey Lavrov held a hastily-arranged meeting Sunday in Rome...
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Meaning of Torture Report: Simply a Catharsis? - Daniel McAdams and Jay Taylor
What is the final meaning of the Senate's recent release of its report on CIA torture activities? We know that no one will be prosecuted, as they have already been given immunity by the president. We have no reason to believe the out-of-control CIA will have its wings clipped after release of the report. Just as the NSA did not cease, but rather increased, its spying on the rest of us after the Snowden revelations.
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Rep. Walter Jones: Omnibus Bill? Are You Kidding? I Don't Even Know What's In It!
Rep. Walter Jones (R-NC), an RPI Board Member, again demonstrates why he is one of the few exemplary Members of Congress left in the House. Asked by CNSNews whether he would be voting for the monstrous omnibus continuing resolution on the House this past week, he replied...
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