<html><body style="word-wrap: break-word; -webkit-nbsp-mode: space; -webkit-line-break: after-white-space; "><base href="data:"><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; ">1. It's not just melamine in food exports.</div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; ">U.S. Government Finds Thousands Of Counterfeit Electronics From China [and other countries] In Avionics Weapon Supply Chain</div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><a href="http://www.manufacturingnews.com/news/08/1117/counterfeitelectronics.html">http://www.manufacturingnews.com/news/08/1117/counterfeitelectronics.html</a></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><i>The United States military and the federal government's national security agencies are facing an <b>unprecedented infiltration of counterfeit electronic chips</b>, chipsets and components.</i></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div><div style="text-align: left;">2. On the other hand, U.S. banks exported trillions (the total seems still unknown) in what amount to bogus securities.</div><div style="text-align: left;"><br></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; ">A tsunami of hope or terror?</div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><a href="http://www.businessspectator.com.au/bs.nsf/Article/A-tsunami-of-hope-or-terror-LHRJP?OpenDocument&alerts&loc=center">http://www.businessspectator.com.au/bs.nsf/Article/A-tsunami-of-hope-or-terror-LHRJP?OpenDocument&alerts&loc=center</a></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><i>.... a team working within JP Morgan Chase invented credit default swaps, which are contractual bets between two parties about whether a third party will default on its debt. In 2000 these were made legal, and at the same time were prevented from being regulated, by the Commodity Futures Modernization Act, which specifies that products offered by banking institutions <b>could not be regulated</b> as futures contracts. </i></div><p><i><b>This bill, by the way, was 11,000 pages long, was never debated by Congress and was signed into law by President Clinton a week after it was passed.</b> It lies at the root of America’s failure to regulate the debt derivatives that are now threatening the global economy...</i></p><p><i>If the list of defaults – full and partial – gets to nine, then a mass transfer of money will take place from unsuspecting investors around the world into the banking system. How much? Nobody knows, but it’s many trillions...</i></p><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><i>The distress among those who lose their money will be immense. It will be a real loss, not a theoretical paper loss. Cash will be transferred from their own bank accounts into the issuing bank, via these Cayman Islands special purpose vehicles. </i></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; ">Note: We should be careful about generalizing, especially about entire nations. It was George W. Bush, after all, who said, "I don't do nuance." That's why I added the clarification in brackets to the title of the first article. Also, the bill referred to in the second item was the 2000 omnibus budget bill, covering much more than futures trading.</div><div style="font-family: Verdana; font-size: 14px; color: black; text-align: left; "><br></div></body></html>