ALIEN SKELETON FOUND IN BRAZILIAN MUSEUM

“Collected”

The 350,000 inhabitants of the Brazilian city of Uberaba, State of Minas Gerais, are very uneasy with a supposed alien skeleton displayed in a local museum. The exhibition is at the Museum of Natural History Wilson Estevanovic, a private institution which also hosts the Astronomic Society of Uberaba and shows animals, mummies, and several kinds of stones. Both institutions have the common objective of taking culture and science to the city s schools. The museum belongs to the Estevanovic family, whose ancestors crossed the world with a circus in the end of the XIX century. In every place the family has been, they have acquired pieces, such as mummies, animal skeletons, fossils etc.

The Estevanovics went to Uberaba in 1956, and in 1997 they founded the museum which today counts on more than 20,000 pieces. In the end of August, two directors of the institution the attorney Wellington Estevanovic and the professor Carlos Magno Estevanovic came to me and to the researcher José Eduardo C. Maia reporting a very unusual piece in their collection asking us to take a look. It was a strange embalmed skeleton which has been with the family for 96 years. The directors informed that the carcass called the attention of the local community and that was the reason why they decided to show the piece to the Brazilian UFO Magazine [www.ufo.com.br] thinking it might be of an extraterrestrial being. We went to the place and thoroughly examined the skeleton together with Wilson Estevanovic Neto, another member of the Estevanovic family. Estevanovic Neto is a researcher of the subject, restorer, gemologists, and also an expert in the processes of mummification.

Some doctors contacted by us have talked little about the subject saying only that the bones do not seem to belong to a human being due to anomalies like a huge head and a small body. What was also surprising to the president of the Museum of Natural History is the diameter of the head, which is of 97 cm. In addition, the semi-mummified carcass seems to have belonged to a hermaphrodite with six-fingered feet. We estimate that it might be of a 10 to 12-year old pre-adolescent, as we could verify through orthodontic studies. When alive, this being had multiple anomalies. The most evident ones are the presence of  hydrocephalus and palate-labial fissure, that is, a primary congenital malformation , he said to the Brazilian UFO Magazine.

Extraterrestrial Creature?

According to him, students and other people who have already seen the skeleton at the museum have no doubt it is of an extraterrestrial creature. Some people felt sick at seeing the carcass exposed while others got scared, but most of the children felt excited. Despite the intense curiosity there is no further information about the piece. The Estevanovic family does not know where the piece comes from or how it was embalmed, but they believe it occurred more than 200 years ago. The box in which the skeleton was kept was opened in 1997 after the death of Wilson Estevanovic, who revealed to his son, Wellington, the secret it contained. Before that, it was only a sealed box , said the director of the institution.

The ufologist Maia estimates that the material is very valuable and deserves profound studies. I haven t seen anything like this before, except in movies or pictures. Now we have a skeleton very different from a human one which we are going to study carefully , he commented. According to information from other researchers, Brazil has not the necessary conditions to perform examinations in the carcass to verify if it is human or not, since it is already mummified. Brazilian UFO Magazine [www.ufo.com.br] has put up a team to further examine the skeleton in detail, in order to determine its real nature. If this is an alien structure, what could be concluded with serious scientific research, then the world must know , said the magazine s editor A. J. Gevaerd, founder on the Brazilian Center for Flying Saucer Research (CBPDV).

The Estevanovic family has been very helpful opening all doors of the museum to researchers, once they also want to see the mystery solved. The biological sciences student of the University of Bahia, Veruska Estevanovic, granddaughter of the institution s founder concluded after studies on the origin of the piece that the skeleton probably belongs to an extraterrestrial being. Among other examinations, the carcass underwent a morpho-anatomic evaluation. In her report, Veruska talks about the development of the skeleton in a more detailed description: it has a palate-labial fissure skull with a reduced palate and a slender and protuberant central structure projected through the nasal cavity and two canine teeth on its distal ends.

Eye Orbits

The morpho-anatomic analysis of the skeleton has indicated that the distance between this structure and the upper maxilla is of 5 cm. The nasal cavity presents a crack at its base which is interrupted by the projection of the palate-buccal structure , said Veruska to the Brazilian UFO Magazine [www.ufo.com.br]. The upper maxilla is incomplete, with a central fissure directly linked to the nasal cavity with only nine teeth. The lower maxilla is smaller than normal anatomic patterns too long and narrow on its horizontal axis holding only nine teeth. The eye orbits are shallow, relatively far from one another, presenting an ossified central structure, which is circular with a central orifice and one ossified optical nerve.

Such body structure does not match the human anatomy. The skeleton does not have the auditory pit, as well as the auditory canal. The cranium presents typical cranial cracks and the front region has two relevant protuberances. The carcass is divided in head, trunk, and limbs without any known proportion. The cranium s dimensions are 1 ½ time the chest. Veruska continues: The creature presented a bone characteristic which allows us to define at least two severe congenital abnormalities: hydrocephalus and palate-labial fissure, that is, two syndromes very known in the medical literature.

The skeleton certainly belonged to an individual with congenital malformation or anomalies, which consist of developmental failures in the occasion of the birth. In the universe of congenital malformation, no classification of an isolate nomenclature is universally accepted, that is, all of them are limited. Each one is directed to a specific purpose in the study of teratology branch of science that studies abnormal pre-birth developments with principal emphasis with respect to already known pathogenesis.

If human, the causes of congenital malformation in the skeleton might be chromosome abnormalities, mutant genes, environmental factors, multi-factorial inheritance, or even a combination of genetic and environmental factors combined with other unknown causes, has declared Veruska Estevanovic to the Brazilian UFO Magazine.

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US FDA finally approves implanted RFID chip for humans!

Here we go, now it isn’t faraway until we all get them RFID thing’s inside our body’s. I believe the other nation to follow US in this issue. Why? Well an RFID chip makes it more easy to track their money. Also it will be much easier to direct point commercial in the direction of were people is. So in short CONTROL & MONEY. Now in the category of unbelievably bad ideas that we all knew were making their way toward reality whether we like it or not comes this news that the US FDA has just approved VeriChip’s implantable RFID chips for use in humans. These are the same chips that we’re currently using to identify our pets. VeriChip is touting the chips’ medical applications, as a way of potentially saving lives by storing medical data. But that’s only the first misleading cause of the agenda. And they surely not going to mention that RFID implants also may have serious health risks. Because though the chips are approved for use in humans by the US FDA, the AP revealed recently that a number of animal studies, conducted from 1996 to 2006, showed that the implants can induce malignant tumors. But the FDA stands by its approval, Yes! money is more important than lives, and implant-maker VeriChip says its products are perfectly safe. But scientists who reviewed the research had very skeptical and mixed reactions. Scientist`s stated that despite the numerous services it provides, scientist`s find RFID worrying because the technology uses radio waves. Who want radio waves streaming inside their blood system?

In case it’s not immediately obvious to you why you wouldn’t want to walk around in public broadcasting your financial and/or medical information to anyone with an RFID reader, Bruce Schneier spells it all out for you in a great post on the Bush administration’s plans to push for RFID-based passports. Here’s a nice chunk of it, but you should read the whole thing.

Do you really want to walk in and apply for a job knowing that you’re broadcasting details about a heart condition/HIV infection/cancer history/etc. to everyone within 20 meters, including the people who are considering whether or not to hire you and pay your medical insurance and sick leave? Do you really want to walk down a crowded street broadcasting financial data of any kind to God knows who? Is it really a good idea to broadcast personal identification information to anyone and everyone, when identity theft is one of the country’s fastest growing crimes? All “Mark of the Beast”-type stuff aside, this makes about zero sense from a security and privacy perspective. You can make all the tinfoil hat jokes you like, but I’m with Bruce Schneier in concluding that the only use for this technology that makes real sense is what Wal-Mart wants to use it for by putting it on their products, namely surveillance and tracking.

 

Real reason for RFID :

First you need to read about the new Spy-chips here.  Then consider this. If you haven’t heard of the RFID chips, then wake up and use your common sense to immediately inform yourself about this issue. The RFID chip is the New World Order’s long sought after goal of a future police state. They want to know everything that you do and everywhere you go. Also there is simply no denying the fact that “TPTB” are working towards micro-chipping all of humanity. Countless recent news reports, including those compiled in the following YouTube clip, openly speak of microchips designed for implant into human skin. I say NO WAY! Do not fall into their total control grid.

Mainstream reason :

Silently and invisibly, the dormant chip stores a code similar to the identifying UPC code on products sold in retail stores that releases patient-specific information when a scanner passes over the chip. At the doctor’s office those codes stamped onto chips, once scanned, would reveal such information as a patient’s allergies and prior treatments. The FDA in October 2002 said that the agency would regulate health care applications possible through VeriChip. Meanwhile, the chip has been used for a number of security-related tasks as well as for pure whimsy: Club hoppers in Barcelona, Spain, now use the microchip much like a smart card to speed drink orders and payment.

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Mystery Object Discovered Outside Our Solar System

“Collected”

Three planets each orbiting its own giant, dying star have been discovered by an international research team led by a Penn State University astronomer. Using the Hobby-Eberly Telescope, astronomers observed the planets’ parent stars called HD 240237, BD +48 738, and HD 96127 tens of light years away from our solar system. One of the massive, dying stars has an additional mystery object orbiting it, according to team leader Alex Wolszczan, an Evan Pugh Professor of Astronomy and Astrophysics at Penn State, who, in 1992, became the first astronomer ever to discover planets outside our solar system. The new research is expected to shed light on the evolution of planetary systems around dying stars. It also will help astronomers to understand how metal content influences the behavior of dying stars.

The research will be published in December in the Astrophysical Journal. The first author of the paper is Sara Gettel, a graduate student from Penn State’s Department of Astronomy and Astrophysics, and the paper is co-authored by three graduate students from Poland. The three newly-discovered planetary systems are more evolved than our own solar system. “Each of the three stars is swelling and has already become a red giant  a dying star that soon will gobble up any planet that happens to be orbiting too close to it,” Wolszczan said. “While we certainly can expect a similar fate for our own Sun, which eventually will become a red giant and possibly will consume our Earth, we won’t have to worry about it happening for another five-billion years.” Wolszczan also said that one of the massive, dying stars BD +48 738 is accompanied not only by an enormous, Jupiter-like planet, but also by a second, mystery object. According to the team, this object could be another planet, a low-mass star, or  most interestingly  a brown dwarf, which is a star-like body that is intermediate in mass between the coolest stars and giant planets.

“We will continue to watch this strange object and, in a few more years, we hope to be able to reveal its identity,” Wolszczan said

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The Annunaki – Princes Of The Royal Genetic Seed

The Annunaki were mankind’s original creators. Everything about and inside the creation of man, can be traced back to the Annunaki. Religion as such is also the same everywhere, meaning that the story of JESUS is not an original one. It can be found almost everywhere in other parts of the world but in much older versions. Theologian Dr Robert Beckford has investigated and found amazing parallels to the Christ story in other faiths, some of them predating Christianity by several thousands of years. The Hindu god, Krishna, was conceived by a virgin and his birth was attended by angels, wise men and shepherds. Buddha was also the result of a miraculous birth and visited by wise men bearing gifts. Beckford attempts to unravel the mystery of why there are so many versions of the Christ story across the world and asks which is the real one. Was the Christ Story stolen from other, older religions?  probably! In the Video below Theologian Dr Robert Beckford investigates remarkable parallels between the stories of Jesus, Krishna, Buddha, Mithra, and other major religious entities, and examines how these similarities impact Christianity and its message.

Proof of the Annunaki intervention already exist for this theory

Scientist`s know today that “man”  mainly consist of 4 parts. One part is Monkey, Second part is Reptile, third part is Pig, which we have the biggest resemblance with in feature stage. fourth part is Alien DNA which is not yet determined were from, but it`s clearly not from earth. All this was described by the Sumerians a long time ago. I believe that Annunaki was our so-called Gods and that they created us as slaves. And I personally also belive in what we were taught. Mainly because of where we were born and what family we were born in! If we had we been taught telepathy we would probably been able to do it, religion took us away from our true spirit and our abilities. We regressed undoubtedly! Not Progressed when it comes to our spirit selves! Look at us, we have all ignored the Sumerian writings which are the oldest. It tells us about Annunaki – Princes Of The Royal Genetic Seed . And they were Godlike beings, who considered to be Gods. Those who from heaven to earth came with the DESTROYER (The Dwarf Planet). They wrote and tried to teach us about ALL our planets that we ourselves didn’t even discover until centuries later with magnificent telescopes. They had none! We are not being told the truth of our history, nor are we being told the truth of the dwarf planet or Nibiru that is probably on its way, just as the Kolbrin Bible states as well as the Sumerians.

The Annunaki! The workers of the Sumerian document`s, “Nephillim” those who from heaven came, are the ones who created us as hybrids? between ancient man and their civilization, for the Purpose of slavery, that’s all we are, SLAVES! the government knows about the Annunaki!! they purposely don’t tell us because they know the nephilim will come back and will destroy most of man, and that those that are left will be more easily controlled! wake up people!! Your world is not what you`ve been told.
Secrets Of The Annunaki – Princes Of The Royal Genetic Seed @ 5.00

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Michael Raduga is wrong!

Headlines today say, “Alien abductions may be vivid dreams” Ok so now they want everyone who have been abducted to think that they was dreaming? And also on the other hand, all of us who have actually seen a UFO, that were we dreaming to maybe? Alien abductions may be vivid dreams the study say. According to lead researcher Michael Raduga, more than half the volunteers experienced at least one full or partial out-of-body experience, and seven of them were able to make contact with UFOs or extraterrestrials during these dream-like experiences.

First of all Michael Raduga, can`t find much about him anywhere, but clearly he is a dedicated debunker. Even back in Russia he was always trying to debunk the whole UFO phenomena as in the Aleshenka case.

Michael Raduga`s ( real name : Mikhail Raduga born 1984 ( means  The archangel from the rainbow…hmm) states on his website that for the first two years he explored the OBE state he was convinced it was proof of the afterlife. After two years, and after doing all sorts of experimentation he came to the personal conclusion that it *probably* is not. He seems to be vacillating on the subject but open to the possibility that there may be something of consciousness that may be out-of-body, but he refers to his classic OBE states as “simulations”. Meetings with deceased loved ones? “Simulations”. Visitations by extraterrestrials? “Simulations”. He believes that NDEs, alien abduction and all the rest are identical “simulations”.  Needless to say, he can’t see target locations or items and at a loss to the topic. His name is also very suspicious it sounds like it Could be taken from the steamship Raduga who in 1965 observed some unusual phenomenon. Mentioned in the “CLOSE ENCOUNTERS Of the Ancient Kind“  Or maybe after the “The Raduga Moskit (Sunburn) A antimissile-ship is perhaps the most lethal antimissile-ship in the world,” wrote Fisher in a review of the Chinese navy. Anyway it`s fishy as the fisherman said!!

So what is wrong with this? Well all of it really. What he just don`t understand, one thing to start with. It`s been said that for ex : That the Annunaki could capture and hold souls for one thing. So if we was forced to go into the Astral plane to meet with Annunaki, then it`s still as real as it can get. And it would still be a real abduction. However I don`t think this is the case at all. Abductions have occurred and are just as real as people say. Then I believe to that they can affect us in our dreams, because dreams are just a sort of electric outflow between the soul and the brain and this can be altered. So what ever and if Mr. Raduga meant that we were dreaming (dreams), then he is at least wrong in this case. The practice of Phase states of the mind is the hottest and most promising pursuit of the modern age. Unlike in the past, the notions of ”out-of-body experience”, “lucid dreaming” or ”astral projection” have already lost their mystical halo, and their real basis has been studied in minute detail from the most non-nonsense approach. Now, this phenomenon is accessible to everyone, regardless of their worldview. It is now known how to easily master it and apply it effectively. Michael Raduga website and the books on it, give each and every person something that previously could only be dream t about – a parallel reality and the possibility of existing in two worlds.

One Day…We Will Shut It All Down!

A good initiative. A call to disengage from the military, industrial and congressional complex (as it was originally called by Eisenhower) for a full day has gone out for this Friday, October 28th. It’s an outgrowth of the Occupy Revolution. A momentum is occurring. People are uniting across the world are sending messages. The next step is fast approaching for one day we peacefully protest in a symbol that will be felt across the globe. We step out of the system and step back into ourselves.

Do NOTHING that generates money into THE SYSTEM.

Turn off all lights
Unplug all electrical devices
Abstain from using TV, radio and internet or phone.
Abstain from making any purchase of any kind
Choose that morning to cancel any services you feel you no longer need
That morning call in sick to work

Do NOTHING that generates money into THE SYSTEM.

We will send a message. We will unite. Most importantly, for one day…We live without distraction and…
Read a book
Meditate
Play
Sing
Dance
Create
Frolic in nature
Love

On Oct 28th 2011 Step out of the system and get back to yourself

Spread the word! SHUT IT ALL DOWN! For One Day…We Will Shut It All Down!

Star Trek is almost here!

Star trek is probably the Science Fiction series that have had most impact on ordinary life when it comes to gadgets. When Star Trek debuted in the 1960′s it exposed people all around the world to a bright future full of high-tech gadgets. 45 Years, 6 different television series and 11 movies later, Star Trek has undoubtedly had a large impact on the world around us, inspiring scientist and inventors to develop the technology that shaped their childhood. Sortable.com has taken a look at some of the technology in Star Trek and how close we are to having that technology in everyday life. Also when Star Trek debuted in 1966, computers were very large, very expensive and very slow compared with what we have today. That didn’t stop Gene Roddenberry from envisioning a future where small computers were in every meeting room and wherever people needed them. The computers in the original series were larger than what we have today, but they were personal computers nonetheless.

Roughly five years after Star Trek left the air waves, the Altair 8800 was built by Ed Roberts, who just happened to name the computer after a galaxy mentioned in Star Trek. This build-it-yourself personal computer was pretty basic, but it would inspire two guys named Steve Jobs and Steve Wozniak to improve upon the model and usher in the age of the personal computer. Amazing!

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Crop Circles – The Quest for Truth

I believe everybody knows and understand today that “Crop Circles” are not some just some bizarre artwork created by hoaxers bent on tampering around on some farmer’s crop. These incredible and intricate patterns are placed in the fields for more than one reason. In a global community so flooded with information and messages … How would you get the attention of masses of humanity? It certainly wouldn’t be on billboards. No one pays much attention to those. The circle makers have found a rather ingenious location that does get our attention. I believe that these incredible patterns in the grain deliver messages we are meant to gain an understanding and knowledge from. Crop circles beg you to use your brain to read the information conveyed. The circle makers ask you to open your mind and work with it to hear what they have to say. In crop circles, we find just one more facet of becoming more aware of our surroundings and being enlightened by the Earth. While it is clear to anyone, this pattern uses ancient symbols that many think are Greek key designs. Yet, to people familiar with the Mayan hieroglyphics it is easy to see that this crop circle is designed around the Mayan calendar. To Jaime Maussen of Mexico, one glimpse of the photographs of this August 2nd, 2004 crop circle was enough to put him on a plane bound for the United Kingdom. He knew this was a Mayan calendar immediately.

Academy Award (R) nominated documentary filmmaker William Gazecki (Waco: “Rules of Engagement”) offers a compelling and provocative look at the mysterious phenomenon of Crop Circles. Full of never-before-seen footage and interviews with leading Crop Circle researchers and scientists, Crop “Circles: Quest For Truth is a fascinating, in-depth exploration of prevailing theories about the origin and nature of Crop Circles and the possible implications for us and Planet Earth. An astonishing experience guaranteed to shift perspectives and alter perceptions of what is real.

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The 64-Year Old US Government Imposed Truth Embargo

This is a fact : The 64-Year Old US Government Imposed Truth Embargo Must End! In this video you can watch Stephen Bassett talk about how to get a full disclosure regarding the ET 64-year US government imposed truth embargo. This is a good interview contains information that spans over several decades, from WW2 to present time. Bassett has developed the idea that Disclosure is something that insiders want to do, but that it depends upon who is President before that can happen. He says the Cold War precluded Disclosure and since the Cold War it has depended on the correct President. Bush 1 would have worked, but he didn’t get re-elected. Clinton would not work, and neither would Bush 2. At the 2009 “X-Conference” Bassett gave President Obama an ultimatum that “He better disclose by May 31, 2009 or else another country probably will before then.” Apparently he had high hopes for Obama, the perfect president to invoke Disclosure, who just hasn’t come through for him either. It must be a great disappointment. Stephen is also constantly trying to gain the authority’s interest in disclosing this topic once for all. We demand and need to know the truth.

Stephen Bassett is one of the two ( Stephen Greer the other) leading advocate`s for ending the 64-year government imposed truth embargo regarding an extraterrestrial presence engaging the human race.  He is a political activist, lobbyist, commentator, the executive director of Paradigm Research Group and the Extraterrestrial Phenomena Political Action Committee (X-PPAC) and executive producer of the annual X-Conference.  His work has been covered extensively by national and international media. Since 1996 Bassett has assisted numerous organizations and initiatives working to 1) raise public awareness of the both the extraterrestrial presence and the truth embargo, 2) convene open congressional hearings to take government and agency witness testimony, and 3) incite the political media to appropriately cover the attendant issues.   He has appeared on hundreds of radio and television talk shows and in numerous documentaries speaking to millions of people about the implications and likelihood of “Disclosure” – the formal acknowledgement of the extraterrestrial presence by world governments

European debt crisis wont stop for this!

Europe`s economic crisis still get`s grimmer by the minute. I don`t know who they think they are fooling?  The small solution accepted today is only like CPR. If nothing else is made then it`s over with the European Union`s economy and the whole world`s for that sake. But European leaders insist they are making progress on a comprehensive plan to tackle the euro zone’s debt and banking crisis. But the details are foggy and last-minute delays suggest that significant disagreements remain unresolved. On Wednesday, government heads from all 27 members of the European Union will gather for a second time, following a summit over the weekend. EU politicians have promised to deliver an ambitious and durable solution to a crisis that poses the biggest threat to the euro since the common currency was launched over a decade ago.

“The sovereign debt crisis threatens the very existence of the euro zone,” said Howard Archer, chief European economist at IHS Global. “It is therefore absolutely imperative that European policymakers finally deliver a major package.”

The latest talks have focused on a three challenges: restructuring the Greek government’s crushing debt load, strengthening European banks and boosting the effectiveness of a limited rescue fund. While the stakes are high, expectations are dim. It took three months for comparatively modest crisis measures announced in July to be approved by all 17 euro area governments. Some experts have already dismissed Wednesday’s meeting as a prelude to the Group of 20 summit in early November, when the world’s most powerful leaders will gather in Cannes, France.

“We have no confidence at all that the various proposed strategies will provide any effective fix for Europe’s ills,” said Ian Gordon, an analyst at investment bank Evolution Securities in London.

Greece : This cannot end well

The main issue for Greece is the role the private sector could play in restructuring Greece’s debt. Calls have been growing for banks and investors to voluntarily accept larger writedowns, or haircuts, on the value of Greek government bonds. Under a July agreement, bondholders had agreed to a 21% reduction. But the latest estimates suggest that writedowns of 50% or more will be necessary. It won’t be easy. Analysts say talks with the Institute of International Finance, which represents the interests of banks that hold Greek debt, have been challenging.
IIF president Charles Dallara said “there are limits” to what the private sector will tolerate as voluntarily, warning that any “unilateral actions would be tantamount to default.” Analysts said the writedowns must be voluntary because an involuntary haircut could trigger credit default swaps, which act as insurance policies on bonds. The fear is that reducing the amount of money Greece owes will prompt other debt-burdened nations to seek a similar deal. But economists say there is no way for Greece to get out of debt without some concessions from creditors.

Banks

European banks need to raise capital reserves to withstand a default by Greece or another euro area government. The tab could total as much as €200 billion. The big question: where will the money come from? Europe bank rescue is not enough and specially this little futile attempt they made today October 26. EU politicians, including German Chancellor Angela Merkel and French President Nicolas Sarkozy, have said banks should first try to raise capital from private investors before seeking government aid. But market participants are skittish about investing in European banks. In addition, some banks have had trouble raising money to fund short-term needs, and have been relying on temporary liquidity measures from the ECB. Banks that cannot raise money in capital markets should be recapitalize`d by member state governments, politicians say.

Bailout fund

The European Financial Stability Facility, a €440 billion fund that was recently empowered to intervene in sovereign debt markets and lend money to governments that need to boost bank capital, is widely seen as inadequate. However, increasing the amount of money the EFSF controls has been ruled out by EU nations. There has been talk of combining the EFSF, which will be phased out in 2013, with a replacement called the European Financial Stability Mechanism. Leaders are also considering a new vehicle to attract private capital from sources, such as emerging market sovereign wealth funds. The IMF may also contribute more money, analysts say. But the talks have so far mainly revolved around ways to enhance or “leverage” the existing EFSF to get more miles out of its relatively limited resources. The fund has already committed loans to Ireland and Portugal. It is also expected to back a second bailout for Greece, originally expected to total €109 billion.

Moody’s to France: We’re watching you

In addition to providing loans, the fund has been authorized to lend money to governments that need to inject capital into banks. It also has the power to buy bonds directly from investors. The EFSF is seen as a potential replacement for the ECB as the buyer of last resort for the debt of nations such as Italy and Spain, which are struggling to secure affordable funding. There have been several theories about how to boost the fund’s firepower but analysts say a bond insurance scheme is the most likely outcome. The plan is to use what money the fund has left after all of its other commitments to provide a partial guarantee on newly issued government bonds. The goal is to jumpstart the market for sovereign debt by giving investors some confidence that they won’t lose all of their money. The need for a large and credible rescue fund is urgent as worries about Italy grow. Italy, the euro zone’s third largest economy, has one of the largest bond markets in the world, worth an estimated €2 trillion.

While Italy is in much better shape than Greece, the Italian economy has been ailing for years and the nation has debts equal to about 150% of its economic output. That’s a recipe for disaster unless the government can force through more austerity and manage to boost economic growth at the same time. But things can get even worse, if it`s possible? Most people have no idea that Wall Street has become a gigantic financial casino.  The big Wall Street banks are making tens of billions of dollars a year in the derivatives market, and nobody in the financial community wants the party to end. The word “derivatives” sounds complicated and technical, but understanding them is really not that hard.  A derivative is essentially a fancy way of saying that a bet has been made. Originally, these bets were designed to hedge risk, but today the derivatives market has mushroomed into a mountain of speculation unlike anything the world has ever seen before.  Estimates of the notional value of the worldwide derivatives market go from $600 trillion all the way up to $1.5 quadrillion. Keep in mind that the GDP of the entire world is only somewhere in the neighborhood of $65 trillion.  The danger to the global financial system posed by derivatives is so great that Warren Buffet once called them “financial weapons of mass destruction”. For now, the financial powers that be are trying to keep the casino rolling, but it is inevitable that at some point this entire mess is going to come crashing down. When it does, we are going to be facing a derivatives crisis that will destroy the entire global financial system. And it`s on it`s way….

http://www.marketwatch.com/story/debt-deal-wont-stop-euro-zone-recession-2011-10-25
http://www.guardian.co.uk/business/2011/sep/29/merkel-triumphs-in-german-bailout-vote
http://www.independent.co.uk/news/business/news/factory-fears-over-eurozone-crisis-2376149.html
http://www.economist.com/world/europe
http://www.economist.com/node/21531424