Showing posts with label online stock trading and investments. Show all posts
Showing posts with label online stock trading and investments. Show all posts

Wednesday, November 17, 2010

personal finance blog

Dear trav:


I used to think the same as you regarding the unconnectedness of things, but not anymore -- and not just because of one or two articles but because I've thought deeply about many things I've been reading with an open mind. Oddly, things do fit together, not in a conspiratorial way as meant today, but in a sort of horrible cascade of logic if one keeps track long enough. I also feel frustrated depressed and angry but I think it's important to keep our wits about us and know everything we can because I believe we're going to have to fight for our lives, one way or another. dz


More articles (sorry):


The JFK Assassination and 9/11: the Designated Suspects in Both Cases
by Peter Dale Scott Global Research, July 5, 2008 

Global Research recently published my essay entitled  9/11, Deep State Violence and the Hope of Internet Politics (appended below at *&*) In this article, I argue that 9/11 should be analyzed as a deep event (an event not fully aired or understood because of its intelligence connections) and above all as one of a series of deep events which from time to time have frustrated peace initiatives or become pretexts for war.The War Conspiracy. As The War Conspiracy: JFK, 9/11, and the Deep Politics of War, it is due to be published by the Mary Ferrell Foundation Press in August 2008.

I wish to summarize again the first striking similarity between 11/22/63 and of 9/11/01: the dubious detective work on those two days. Less than fifteen minutes after the President’s assassination, the height and weight of Kennedy’s alleged killer was posted.


1 Before the last of the hijacked planes crashed on 9/11, the FBI told Richard Clarke that they had a list of alleged hijackers.2


In the case of Oswald, within fifteen minutes of the assassination and long before Oswald was picked up in the Texas Theater, Inspector Sawyer of the Dallas police put out on the police radio network, and possibly other networks, a description of the killer – "About 30, 5’10", 165 pounds."


3 As noted, this height and weight exactly matched the measurements attributed to Lee Harvey Oswald in Oswald’s FBI file, and also in CIA documents about him.4


The announced height and weight were however different from Oswald’s actual measurements, as recorded by the Dallas police after his arrest: 5’9 1/2", 131 pounds.


5 More importantly, there is no credible source for the posted measurements from any witness in Dallas. (The witness said to have spotted him, Howard Brennan, failed to identify Oswald in a line-up.)6 This leaves the possibility that the measurements were taken from existing files on Oswald, rather than from any observations in Dallas on November 22. If so, someone with access to those files may have already designated Oswald as the culprit, before there was any evidence to connect him to the crime.

A similar situation pertains to the alleged hijackers on 9/11. For example, shortly afterwards men in Saudi Arabia complained that "the hijackers' `personal details’" released by the FBI -- "including name, place, date of birth and occupation -- matched their own."



7 One of them, Saeed al-Ghamdi, claimed further that an alleged photograph shown on CNN (of an alleged Flight 93 hijacker with the same name) was in fact a photograph of himself. He speculated "that CNN had probably got the picture from the Flight Safety flying school he attended in Florida."8


If the above information is accurate, then the details posted by the FBI and CNN about the alleged hijackers cannot have derived from the events of 9/11, with which the survivors in Saudi Arabia would appear to have been uninvolved. Once again this leaves the strong possibility that the details were taken from existing files, rather than from empirical observations on September 11.


9


And some of the hijackers, like Lee Harvey Oswald, may have been in CIA files for a special reason: because the CIA had an operational interest in them.



Internal CIA Evidence of Operational Interest in Oswald and the Hijackers



I have speculated that Oswald, like the al-Qaeda trainer Ali Mohamed, might have been a double agent reporting to the FBI about the terrorist group (Alpha 66) with which some law enforcement officers associated him.


I would like now to discuss more unequivocal evidence, from internal CIA records, about an operational


CIA interest in first Oswald and later two of the alleged al-Qaeda hijackers, Nawaz al-Hazmi and Khalid al-Mihdar. In 2001 as in 1963 the CIA inexplicably withheld information about the subjects from the FBI, which ought categorically to have received it. The anomalies are extreme.

This is now easy to show in the case of Oswald. On October 10, 1963, six


weeks before the assassination of John F. Kennedy, CIA Headquarters sent out two messages about Oswald, a teletype to the FBI, State, and Navy, and a cable to the chief of the CIA’s Mexico City station. Both messages contained false and mutually contradictory statements, and also withheld known facts of great potential importance.



10 The teletype to the FBI withheld the obviously significant information that Oswald had reportedly met in Mexico City with a Soviet Vice-Consul, Valeriy Kostikov, who was believed by CIA officers to be an officer of the KGB.11


One CIA officer, Jane Roman, helped draft both messages. In 1995 she was confronted by two interviewers with irrefutable evidence that she had signed off on erroneous information about Oswald in the CIA cable to Mexico City. After much questioning, she finally admitted, "I’m signing off on something I know isn’t true." One of the interviewers, John Newman, then asked her, "‘Is this indicative of some sort of operational interest in Oswald’s file?’ ‘Yes,’ Roman replied. ‘To me it’s indicative of a keen interest in Oswald held very closely on the need-to-know basis.’" She later repeated, "I would think there was definitely some operational reason to withhold it [the information at CIA headquarters on Oswald], if it was not sheer administrative error, when you see all the people who signed off on it."


12


Other CIA officers withheld important information from the FBI in January 2000, with respect to Khalid al-Mihdar, who would later be identified as one of the al-Qaeda hijackers on September 11, 2001. The NSA overheard on a Yemeni telephone about a meeting in Malaysia which al-Mihdar would attend, along with Tewfiq bin Attash, the mastermind of the fatal attack on the USS Cole.


13 It notified the CIA but not the FBI. In consequence


[Khalid al-Mihdar’s] Saudi passport – which contained a visa for travel to the United States – was photocopied [in Qatar] and forwarded to CIA headquarters. The information was not shared with FBI headquarters until August 2001. An FBI agent detailed to the Bin Ladin unit at the CIA attempted to share this information with colleagues at FBI Headquarters. A CIA desk officer instructed him not to send the cable with this information. Several hours later, this same desk officer drafted a cable distributed solely within CIA alleging that the visa documents had been shared with the FBI.


14


Lawrence Wright, reviewing this and other significant anomalies, reported in


The Looming Tower the belief among FBI agents following bin Laden "that the agency was protecting Mihdar and [his companion, the alleged 9/11 hijacker Nawaz al-] Hazmi because it hoped to recruit them," or alternatively that "the CIA was running a joint venture with Saudi intelligence" using al-Mihdhar and al-Hazmi.15 Wright himself speculated in a companion essay he wrote for The New Yorker that "The CIA may also have been protecting an overseas operation and was afraid that the F.B.I. would expose it."16

 



The Consequences of the CIA’s Withholding of Evidence

As just noted, the CIA, in its teletype to the FBI of October 10, 1963, withheld the information that Oswald had reportedly met with a KGB officer, Valeriy Kostikov. Former FBI Director Clarence Kelley in his memoir later complained that this failure to inform the FBI was the major reason why Oswald was not put under surveillance on November 22, 1963.


17 In other words, the withholding enabled Oswald to play whatever role he played on that fateful day, even if it was only to become a designated patsy.

FBI officials are even more bitter about the consequences of the withholding of information about al-Mihdar:



They didn’t want the bureau meddling in their business – that’s why they didn’t tell the FBI….They purposely hid from the FBI, purposely refused to tell the bureau that they were following a man in Malaysia who had a visa to come to America….And that’s why September 11 happened. That is why it happened….They have blood on their hands. They have three thousand deaths on their hands.


18


But the CIA withheld information from the FBI about bin Attash (already the subject of a criminal investigation) as well, even when asked by an FBI agent, Ali Soufan, about bin Attash and the Malaysia meeting. According to Wright,


The agency did not respond to his clearly stated request. The fact that the CIA withheld information about the mastermind of the


Cole bombing and the meeting in Malaysia, when directly asked by the FBI, amounted to obstruction of justice in the death of the seventeen American sailors."19


In late August 2001, only days before 9/11, FBI agent Steve Bongardt, complaining about the CIA’s withholding of information about al-Mihdar, correctly predicted in an angry email to the CIA’s bin Laden unit that "someday someone will die."


20

 




The CIA’s Dishonest Efforts to Cover-Up



From the moment Congress, in the 1970s, began to evince an interest in the Kennedy assassination, former CIA officer David Phillips became a vigorous defender of the CIA’s performance. With respect to false information about Oswald in CIA cables both to and from Mexico City (where Phillips was in charge of Cuban affairs for the CIA station), Phillips’s first response was to dismiss Oswald as "a blip" of no interest.


21


A similar defense of the CIA’s failure to act on al-Mihdar was offered to the Congressional Joint Inquiry into 9/11 by the Director of the CIA’s Counterterrorism Center, Cofer Black: "I think that month we watchlisted about 150 people."


22 The same defense was offered by Dale Watson, the FBI’s former counterterrorism chief:


There were a lot of red flags prior to 9/11….So it’s a mass of information and it’s a sea of threats, and it’s like working against a maze. If you know where the end point of a maze is, it’s certainly easier to work your way back to the starting point than trying to go through the maze and sort out all the red flags.


23


The problem with this excuse is that both Oswald and al-Mihdar were singled out for special CIA attention, not left floating in a sea of red flags. The cable to Mexico City which Jane Roman signed off on was not handled routinely, it was sent for signature to the CIA’s Assistant Deputy Director for Plans, Thomas Karamessines. And in the case of al-Mihdar in Malaysia, back in 2000


CIA leaders were so convinced about the potential significance of the al Qaeda meeting in Malaysia, they not only set up surveillance of it, but provided regular updates to the FBI director [Louis Freeh], the head of the CIA [George Tenet], and the national security advisor [Samuel Berger].


24


That Freeh and Berger were being notified at the top about the Malaysia meeting (at the same time that the regular FBI bureaucracy was being cut out) is confirmed in accounts by Terry McDermott and Philip Shenon.


25


CIA officials testified falsely to congressional committees with respect to both Oswald and al-Mihdar. James Angleton was asked by the staff of the House Select Committee on Assassinations about a memoir written by the CIA’s station chief in Mexico City, Win Scott, and later personally retrieved for the Agency after Scott’s death by Angleton himself. Angleton testified that Scott’s "manuscript was fictional and did not include a chapter on Oswald." In fact, according to Jefferson Morley, "The only surviving manuscript is clearly nonfictional and does have a chapter on Oswald."


26


Both George Tenet and Cofer Black testified before the Congressional Joint Inquiry into 9/11 that the FBI


had been granted access to the information linking al-Mihdar and Tewfiq bin Attash (alias Khallad), the mastermind of the Cole bombing. The 9/11 Commission, after a lengthy review of the matter, concluded "this was not the case."27

 



The CIA, Oswald, and Al-Mihdar: Suppression of Vital Records

That the CIA regards its relationship to the suspects Oswald and al-Mihdar as sensitive is further illustrated by its suppression of vital evidence with respect to both. Although in the 1990s all government agencies were required by law to submit their Oswald-related documents to the Assassination Records Review Board, the CIA has been vigorously resisting pressure to do this in the case of former CIA officer George Joannides. In 1963 Joannides was the case officer for AMSPELL, the CIA’s operation in support of the Cuban exile group DRE (Directorio Revolucionario Estudiantil). In August 1963 the DRE was in contact with Oswald and participated with him in a radio broadcast which was later distributed with CIA help throughout Latin America.


28


According to Jefferson Morley, "four decades after the fact, the most important AMSPELL records are missing from CIA archives – perhaps intentionally." Monthly reports on DRE activities were filed by CIA case officers Ross Crozier and William Kent, and these records were declassified by the ARRB for the periods September 1960-November 1962 and after May 1964.


But the board was unable to locate any monthly AMSPELL reports from December 1962 to April 1964. There was a seventeen-month gap in the AMSPELL records, which coincided exactly with the period in which George Joannides handled the group.


29


With respect to 9/11, all that is known about suppression so far has to do with the public record. Here it is striking that the Report of the Joint Inquiry by Congress into 9/11 has one glaring redaction of twenty-eight pages, dealing with "sources of foreign support for some of the September 11


th hijackers while they were in the United States." Press reports have specified that this refers to Saudi money which reached al-Mihdar and al-Hazmi in 2000 while they were in San Diego. According to committee cochair Senator Bob Graham,


The draft contained a twenty-eight page passage that detailed evidence that Saudis in the United States – Saudi government "spies," Graham called them – had provided financial and logistical support to [al-Mihdar and al-Hazmi] while they lived in Southern California.


30


Similarly the 9/11 Commission failed to deal with the information on an FBI "hijacker timeline" that al-Mihdar and al-Hazmi were met at the airport on their first arrival in the United States by Omar al-Bayoumi, the transmitter of the Saudi funds, whom Graham claimed was obviously "a low-ranking Saudi intelligence agent."


31 The FBI findings were leaked in an early story in Newsweek:


At the airport, they were swept up by a gregarious fellow Saudi, Omar al-Bayoumi, who had been living in the United States for several years. Al-Bayoumi drove the two men to San Diego, threw a welcoming party and arranged for the visitors to get an apartment next to his. He guaranteed the lease, and plunked down $1,550 in cash to cover the first two months' rent.


32


One month later, "In January 2003, Graham and the other members of the committee were …the focus of a criminal investigation by the FBI into whether someone on the panel had leaked classified information."


33


The 9/11 Commission avoided this sensitive area. It cited the FBI Chronology a total of 52 times in its footnotes, for example at 493n55, concerning al-Mihdar’s travel from Yemen to the Malaysian meeting. But it suppressed the FBI’s report that al-Bayoumi met al-Mihdar and al-Hazmi on their arrival; and it substituted what Shenon calls an "improbable tale" supplied by al-Bayoumi himself: namely, that he had run into the two men two weeks later by accident "at a halal food restaurant" near Los Angeles.


34


It is clear that two members of the 9/11 Commission staff who redacted this part of the report – Dietrich Snell and Philip Zelikow – were concerned to tone down what junior staffers considered to be "explosive material" on the Saudis.


35 Shenon tells how this section of the 9/11 report was rewritten by Snell and Zelikow, until the text "removed all of the most serious allegations against the Saudis."36


But Snell and Zelikow may have been protecting the CIA as well as the Saudis. We have already noted how Lawrence Wright, looking at the extraordinary CIA record on withholding information about al-Mihdar and al-Hazmi, concluded, "It is also possible, as some FBI investigators suspect, the CIA was running a joint venture with Saudi intelligence."


37

 



Conclusion

It is clear, as everyone who has studied these matters closely and impartially concurs, that there have been cover-ups of the CIA’s relationships to first Oswald and later al-Mihdar – cover-ups which in both cases have not yet been adequately resolved.


A reasonable conclusion from the available evidence is that the cover-ups were in order to conceal prior CIA operational interest in the designated subjects, just as in the case of Ali Mohamed in the early 1990s. It could of course be a coincidence that people of operational interest to the CIA became designated subjects in the deep events of JFK and 9/11. Another, more disturbing possibility is that those responsible for these events knew of the CIA’s operational interest, and exploited it in such a way as to ensure that the government would be embarrassed into covering up what really happened on those days.


A lot of books about 9/11, including my own, have focused on the roles played by Bush, Cheney, and Rumsfeld on that day. But it is clear that 9/11 involved a USG connection to at least one figure (Ali Mohamed) so sensitive that it had been covered up from the time of the Nosair murder in 1990 and the first World Trade Center bombing in 1993. It is probable that Oswald’s covert USG connections also dated back to the time of his strange release from the U.S. Marine Corps in 1959, enabling him to travel to the Soviet Union.


38


In short there is a substratum of covert operations underlying both events that antedates the presidencies in which they occurred. Thus one should not expect the cover-up of 9/11 in the G.W. Bush administration to dissipate simply because the Democrats take over the White House, just as the Johnson administration’s cover-up of the Kennedy assassination did not dissipate with the election of Richard Nixon.


39


This is said not out of despair, but out of belief in the ultimate resilience and good sense of the American people. The analysis in this book is that America’s involvement in two disastrous wars – first Vietnam and later Iraq – was not an outcome of the people’s will, but rather in large part because of deep events that were used to manipulate that will. Thus this analysis is not an attack on America, but on that manipulative mindset that has twice succeeded in maneuvering America into war.


This dominant mindset is not restricted to intelligence agencies, though it is largely rooted there. Over time it has spread into other parts of government, and has also corrupted large sections of the media and even universities. That the mindset is widespread does not however make it either omnipotent or invincible.


It is important to identify the dominant mindset clearly, if we are ever going to displace it. It is important also to recognize that the dark topics discussed in this book are not representative of America as a whole. In the half century since the CIA’s first adventures in Burma and Laos, America has continued to be, as in the two centuries before it, a source of life-enhancing innovations, such as the computer and the internet.


As Amy Chua has written in her book


Day of Empire,


If America can rediscover the path that has been the secret to its success since its founding and avoid the temptations of empire building, it could remain the world’s hyperpower in the decades to come – not a hyperpower of coercion and military force, but a hyperpower of opportunity, dynamism, and moral force.


40


I have tried to suggest in this book that the key to this rediscovery is the


identification and displacement of the manipulative forces that have maneuvered America, almost unsuspectingly, into two unnecessary and disastrous wars.


If there is any merit to my analysis, then, to isolate those forces, we must press for the truth about both the Kennedy assassination and 9/11.




NOTES




1


Transcript of Dallas Police Channel Two, 12:44 PM; cf. Channel One 12:45 PM,

http://mcadams.posc.mu.edu/dpdtapes/; Warren Report 5, 17 Warren Commission Hearings 397, 23 Warren Commission Hearings 916.



2


Clarke, Against All Enemies, 13-14. The list of 19 names, accepted without question by the 9/11 Commission Report, was given by the FBI to the press on September 14, 2001 (Daily Telegraph, September 15, 2001,


http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2001/09/15/whunt15.xml).


3


Transcript of Dallas Police Channel Two, 12:44 PM; cf. Channel One 12:45 PM,

http://mcadams.posc.mu.edu/dpdtapes/; Warren Report 5, 17 Warren Commission Hearings 397.



4


E.g. Dallas FBI Report from John Fain, May 12, 1960, 17 Warren Commission Hearings 704, NARA #157-10006-10213 ("Height: 5’10" Weight: 165 lbs." [inaccurate description supplied by Marguerite Oswald]); CIA HQ Cable DIR 74830 to Mexico City, 10 Oct 1963, NARA #104-10015-10048, reproduced in John Newman, Oswald and the CIA (New York: Carroll & Graf, 1995), 512 ("five feet ten inches, one hundred sixty five pounds").


5


Fingerprint card dated "11-25-63," 17 Warren Commission Hearings 308.


6


Warren Report 5, 144; Sylvia Meagher, Accessories After the Fact (Mary Ferrell Foundation Press, 2006), 10-13, 78n. After seeing Oswald twice on television, Brennan picked out Oswald in a second lineup (Warren Report, 143).


7


Daily Telegraph, September 23, 2001,

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2001/09/23/widen23.xml.


Cf.



Guardian, September 21 2001,

http://www.guardian.co.uk/world/2001/sep/21/afghanistan.september112 :" Abdulaziz


Al-Omari has also come forward to say he was not on the flight from Boston that crashed into the north tower of the World Trade Centre. An electrical engineer who works in Saudi Arabia, Mr Al-Omari said he was a student in Denver during the mid-1990s, and that his passport and other papers were stolen in a burglary in the US five years ago. … `The name is my name and the birth date is the same as mine,’ he told Asharq al-Aswat, a London-based Arabic newspaper. `But I am not the one who bombed the World Trade Centre in New York.’"



8


Daily Telegraph, September 23, 2001,


http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2001/09/23/widen23.xml.


9


On October 4, 2001, the FBI issued a press release showing what appeared to be photos from surveillance videotape of two hijackers, Mohammed Atta and Abdulaziz Al-Omari, entering Portland Jetport on the morning of September 11, 2001 (FBI Press Release, October 4, 2001,

http://www.fbi.gov/pressrel/pressrel01/100401picts.htm ). If valid, these would constitute evidence from the event itself. However the photos are anomalous, in that they show two time superimposed stamps, one showing 5:45, the other showing 5:53. The photos are not cited as evidence in the 9/11 Commission Report. On July 22, 2004, the date of the release of the 9/11 Commission Report, CNN aired what they said was surveillance videotape of two hijackers, Majed Moqed and Khalid al-Mihdar. entering "at one of the security screening points at Dulles International" (CNN, http://transcripts.cnn.com/TRANSCRIPTS/0407/22/lad.04.html ). The authenticity of the videotape has been challenged, however, because it lacks the time and date and location identification normally burned into a surveillance video image (Rowland Morgan and Ian Henshall,



9/11 Revealed: The Unanswered Questions [New York: Carroll and Graf, 2005], 117-19).


10


I have argued that the conflicting messages were part of a so-called "marked card" or "barium meal" test to determine if and where leaks of sensitive information were occurring. This was a familiar technique, and was the responsibility of the CI/SIG or Counterintelligence Special Intelligence Group which drafted the two cables. See Peter Dale Scott, Deep Politics II: The New Revelations in U.S. Government Files,1994-1999 (Ipswich, MA: Mary Ferrell Foundation Press, 2007), 17-18, 92; also Peter Dale Scott, "Oswald and the Hunt for Popov's Mole," The Fourth Decade, III, 3 (March 1996), 3;


www.maryferrell.org/mffweb/archive/viewer/showDoc.do?absPageId=519798.


11


Peter Dale Scott, Deep Politics II, 30-33.


12


Jefferson Morley, Our Man in Mexico: Winston Scott and the Hidden History of the CIA (Lawrence, KA: University Press of Kansas, 2008), 196-98. See Peter Dale Scott, Deep Politics II, 30-33.


13


Lawrence Wright, The Looming Tower: Al-Qaeda and the Road to 9/11 (New York: Knopf, 2006), 310.


14


9/11 Commission Report, 502n44.


15


Wright, The Looming Tower, 312, 313.


16


Lawrence Wright, "The Agent," New Yorker, July 10 and 17, 2006, 68.


17


Clarence M. Kelley, Kelley: The Story of an FBI Director (Kansas City: Andrews, McMeel, & Parker, 1987), 268.


18


James Bamford, A Pretext for War: 9/11, Iraq, and the Abuse of America’s Intelligence Agencies (New York: Doubleday, 2004), 224.


19


Wright, The Looming Tower, 329. In his New Yorker story (p. 70), Wright wrote that "By withholding the picture of Khallad [bin Attash]…the C.I.A. may in effect have allowed the September 11th plot to proceed."


20


9/11 Commission Report, 271; Wright, The Looming Tower, 353-54.


21


David Atlee Phillips, Nightwatch, 139; quoted in Morley, Our Man in Mexico, 184. Morley observes that in the 1970s Phillips offered a total of "four not entirely consistent versions of the story of Oswald’s visit to Mexico City."


22


J. Cofer Black testimony before 9/11 Congressional Joint Inquiry, 107th Cong., 2nd Sess., July 24, 2003.


23


Dale Watson testimony before Joint Inquiry, 107th Cong., 2nd Sess., September 26, 2002.


24


Amy B. Zegart, Flying Blind: The CIA, the FBI, and the Origins of 9/11(Princeton, NJ: Princeton UP, 2007), 117.


25


Terry McDermott, Perfect Soldiers: The Hijackers: Who They Were, Why TheyDid It (New York: HarperCollins, 20050, 294n45; Philip Shenon, The Commission: The Uncensored History of the 9/11 Investigation (New York: Twelve/Hachette, 2008), 141.


26


Morley, Our Man in Mexico, 7, 294.


27


9/11 Commission Report, 267.


28


Peter Dale Scott, Deep Politics and the Death of JFK (Berkeley: University of California Press, 1998), 81-86; Morley, Our Man in Mexico, 170-77.


29


Morley, Our Man in Mexico, 177.


30


Shenon, The Commission, 50-51.


31


Larisa Alexandrovna, "FBI documents contradict 9/11 Commission report," RawStory, February 28, 2008, http://rawstory.com/news/2008/FBI_documents_contradict_Sept._11_Commission_0228.html (met at the airport); Shenon, The Commission, 52 (al-Bayoumi). Al-Bayoumi "apparently did work for Dallah Avco, an aviation-services company with extensive contracts with the Saudi Ministry of Defense and Aviation, headed by Prince Sultan, the father of the Saudi ambassador to the United States, Prince Bandar" ("The Saudi Money Trail," Newsweek, December 2, 2002, http://www.newsweek.com/id/66665).


32


"The Saudi Money Trail," Newsweek, December 2, 2002. The FBI "hijacker timeline" was released by the FBI on February 4, 2008. See Larisa Alexandrovna, "FBI documents contradict 9/11 Commission report, Rawstory.com, February 28, 2008,

http://rawstory.com/news/2008/FBI_documents_contradict_Sept._11_Commission_0228.html.



33


Shenon, The Commission, 54.


34


9/11 Commission Report, 217; Shenon, The Commission, 52-53.


35


Shenon, The Commission, 398.


36


Shenon, The Commission, 398.


37


Wright, The Looming Tower, 313. Looking at the same evidence, Christopher Ketcham has raised an alternative possibility, that "the CIA may have subcontracted to Mossad, given that the agency was both prohibited by law from conducting intelligence operations on U.S. soil, and lacked a pool of competent Arabic-fluent field officers. In such a scenario, the CIA would either have worked actively with the Israelis or quietly abetted an independent operation on U.S. soil…. When in the spring of 2002 the scenario of CIA's domestic subcontracting to foreign intelligence

was posed to the veteran CIA/NSA intelligence operative, with whom I spoke extensively, the operative didn't reject it out of hand" (Christopher Ketcham, "Cheering Movers and Art Student Spies: What Did Israel Know in Advance of the 9/11 Attacks?" CounterPunch, February 7, 2007,


http://www.conspiracyplanet.com/channel.cfm?channelid=73&contentid=4253&page=2 ).



38


Oswald requested a dependency discharge from the Marines in August 1959, "on the ground that his mother needed his support" (Warren Report, 688). Accordingly Marine Lt. A.G. Ayers, Jr. signed a document for Oswald’s release to inactive duty on September 11, 1959 (19 WH 679, cf. 17 WH 762) "by reason of hardship (19 WH 678). However Lt. Ayers should have known that Oswald had no intention of staying in Texas to support his mother; he had already, on September 4, 1959, signed an affidavit in support of Oswald’s passport application "to attend the College of A. Schweitzer, Chur, Switzerland and the Univ of Turku, Turku, Finland" (22 WH 77-79). (It is a sign of some covert intrigue that the language of instruction at the University of Turku was Finnish, a language Oswald did not know.)


39


A significant symptom of this enduring substratum has been the Bush Administration’s protection of Samuel Berger, Clinton’s national security advisor. Berger pleaded guilty in April 2005 to having stolen 9/11 documents from the National Archives (Shenon, The Commission, 414). A condition of his plea bargain was to submit to a Justice Department polygraph test, to determine what documents had been stolen. Republican Congressman Dana Rohrabacher, a long-time critic of CIA operations in Afghanistan, revealed to the House in February 2008 that he had written to the Bush Justice Department, demanding that it administer the polygraph test, and that the Justice Department had rejected his demand (Congressional Record, February 26, 2008, House, pp. H1065-H1072). We have already seen that Berger when in office was receiving regular reports from the CIA about the presence of al-Mihdar and al-Hamzi at the Kuala Lumpur meeting (Zegart, Flying Blind, 117). It is possible that these were the reports he was stealing from the Archives, and that the Justice Department refusal to administer the polygraph test is part of a cover-up to protect the CIA’s relationship to the two Saudis.


40


Amy Chua, Day of Empire: How Hyperpowers Rise to Global Dominance – and Why They Fall (New York: Doubleday, 2007), 342.

 



Peter Dale Scott, a former Canadian diplomat and professor at the University of California, Berkeley, is the author of the forthcoming The War Conspiracy: JFK, 9/11, and the Deep Politics of War, due in August 2008. This previously unpublished essay is the concluding section of the new book, which can be ordered from the Mary Ferrell Foundation Press by clicking here at http://www.maryferrell.org/wiki/index.php/MFF_Store. His website is http://www.peterdalescott.net.


 


 


*&* addendum:


9/11, Deep State Violence and the Hope of Internet Politics

The Deep State and 9/11


by Prof. Peter Dale ScottGlobal Research, June 11, 2008

The unthinkable – that elements inside the state would conspire with criminals to kill innocent civilians – has become not only thinkable but commonplace in the last century. A seminal example was in French Algeria, where dissident elements of the French armed forces, resisting General de Gaulle’s plans for Algerian independence, organized as the Secret Army Organization and bombed civilians indiscriminately, with targets including hospitals and schools.1 Critics like Alexander Litvinenko, who was subsequently murdered in London in November 2006, have charged that the 1999 bombings of apartment buildings around Moscow, attributed to Chechen separatists, were in fact the work of the Russian secret service (FSB).2


Similar attacks in Turkey have given rise to the notion there of an extra-legal "deep state" – a combination of forces, ranging from former members of the CIA-organized Gladio organization, to "a vast matrix of security and intelligence officials, ultranationalist members of the Turkish underworld and renegade former members of the [Kurdish separatist] PKK."3 The deep state, financed in part by Turkey’s substantial heroin traffic, has been accused of killing thousands of civilians, in incidents such as the lethal bomb attack in November 2005 on a bookshop in Semdinli. This attack, initially attributed to the Kurdish separatist PKK, turned out to have been committed by members of Turkey's paramilitary police intelligence service, together with a former PKK member turned informer.4 On April 23, 2008, the former Interior Minister Mehmet Agar was ordered to stand trial for his role in this dirty war during the 1990s.5

In my book The Road to 9/11, I have argued that there has existed, at least since World War Two if not earlier, an analogous American deep state, also combining intelligence officials with elements from the drug-trafficking underworld.6 I also pointed to recent decades of collaboration between the U.S. deep state and al-Qaeda, a terrorist underworld whose drug-trafficking activities have been played down in the 9/11 Commission Report and the mainstream U.S. media.7


Still to be explained is the suppressed anomalous fact that al-Qaeda’s top trainer on airplane hijackings, Ali Mohamed, was simultaneously a double-agent reporting to the FBI, and almost certainly still maintained a connection to the CIA which had used him as an agent and helped bring him to this country in the 1980s.8 It is not disputed that Ali Mohamed organized the Embassy bombing in Kenya; and that he did so after the RCMP, who had detained him in Vancouver in the presence of another known terrorist, released Mohamed on instructions from the FBI.9


From this historic background of collaboration, I would offer a hypothesis for further investigation: that the American deep state is somehow implicated with al-Qaeda in the atrocity of 9/11; and that this helps explain the conspicuous involvement of the CIA and other U.S. agencies in the ensuing cover-up.


Sibel Edmonds, the Turkish-American who was formerly an FBI translator, has publicly linked both al-Qaeda and American officials to the Turkish heroin trafficking that underlies the Turkish deep state. Although she has been prevented from speaking directly by an extraordinary court order,10 her allegations have been summarized by Daniel Ellsberg:



The numbers are rolling in, and by all accounts, Americans have finally bucked up and told their credit cards, "It's not me, it's you." While consumer spending has inched up a bit, it's not the big credit card networks that are benefiting, which means we're opting more often to spend the money that's already in our pockets. According to this article, credit card usage this year is down for Visa, MasterCard and Discover, while it's flat for American Express.



We're still using our debit cards -- 15% more this year than last -- but we're not financing everything from breakfast to bedroom sets anymore. While this may hurt us in terms of our short-term recovery, since consumer spending is estimated to make up around 70% of our total economy, in the long run it will make us stronger, says Richard Barrington, personal finance expert for MoneyRates.com.



"It's indicative of the fact that consumers are spending less," Barrington tells WalletPop. "They're paying down debt and household debt service ratios are coming down. What that means is some debts are being written off, but to a large extent, people are trying to live within their means," he says.




Interestingly, our nearly decade-long infatuation with gift cards also appears to be on the wane; today, Americans are buying fewer of them and selling the ones they have at a discount for a quick cash infusion. There are other indications that we might be embracing greenbacks more in the future.



Thanks to a recent ruling by the Justice Department, stores have more autonomy to offer discounts to people willing to pay cash. (We told you about the benefits and the drawbacks of this new ruling.) This could have the effect of making plastic even less attractive for some, even as some credit cards compete for new customers by offering lavish cash rewards, which we pointed out in this recent story.



Barrington says he hopes the new embrace of cold, hard cash is here to stay. "I think people are changing their habits for the better," he says, advising, "Take your credit card out of your wallet. It removes the opportunity for you to get in trouble."
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Foo Fighters have been confirmed to headline the final night at Isle Of Wight festival 2011.



Bankrate predicts what's on the personal financial horizon for 2008 by QuizzleTown


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Video: Pondering the value and integrity of cable news.

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<b>News</b> - Tixdaq

Foo Fighters have been confirmed to headline the final night at Isle Of Wight festival 2011.


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Video: Is Cable <b>News</b> Actually <b>News</b>? - NYTimes.com

Video: Pondering the value and integrity of cable news.

Google <b>News</b> Blog: Credit where credit is due

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Friday, September 24, 2010

personal finance and budgeting




  • CEDIA: LG, JVC and Sony debut LCoS-based 3D front projectors



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It's hard to beat an excel spreadsheet for quickly shifting between a granular and top-level view of your personal finance situation. Here's reader Lauren's account balance spreadsheet she made to keep track of her expenditures, past, present, and future, and itemize her budget.



Download Lauren's Budgeter (XLS)



1. Scroll to the current month.

2. Enter your current balance in the "Starting Balance" box at the top left.

3. Enter your credits and debits on the appropriate dates they will hit your account. Use positive numbers for money getting added credits, and negative numbers for when it's getting taken away.

4. The green "Total" will change to reflect your total overall balance.



Use it as is, compare it to your own, or mod to fit your own needs.



Lauren says it's "quite nifty," and also uses it as a calendar.



Here's the excel code for the totaler for those who like to look under the hood:



TODAY();_8_10)

+SUMIF(_9_10d;"

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The Obamacare Inquisitions: A Brief, Brutish History

by Michelle Malkin

Creators Syndicate

Copyright 2010


Health and Human Services Secretary Kathleen Sebelius is just the latest creepy keeper of the Obamacare enemies list. The White House has been keeping tabs on individual and corporate critics of the federal health care takeover for more than a year. It started with the health czar’s Internet Snitch Brigade. Remember?


Last August, the White House Office of Health Reform called on its ground troops to report on fellow citizens who talked smack about the Democratic plan. Team Obama issued an all-points bulletin on the taxpayer-funded White House website soliciting informant e-mails:


“There is a lot of disinformation about health insurance reform out there, spanning from control of personal finances to end of life care. These rumors often travel just below the surface via chain emails or through casual conversation. Since we can’t keep track of all of them here at the White House, we’re asking for your help. If you get an email or see something on the web about health insurance reform that seems fishy, send it to flag@whitehouse.gov.”


Then-health czar office spokeswoman Linda Douglass appeared in an accompanying video singling out conservative Internet powerhouse Matt Drudge. Why? Because his website featured a video compilation of Obama and other Democrats — in their own words — exposing the “public option” as a Trojan Horse for government-run health care and the elimination of private industry.


The Obama dog whistle rang out loud and clear: Report online dissidents immediately.


Calling on the White House to cease and desist, GOP Sen. John Cornyn pointed out that “these actions taken by your White House staff raise the specter of a data collection program. … I can only imagine the level of justifiable outrage had your predecessor asked Americans to forward e-mails critical of his policies to the White House.” The flagging operation was shut down, but a plethora of federal disclosure exemptions protect the Obama administration from revealing what was collected, who was targeted and what was done with the “fishy” database information.


In February, the White House coordinated a demonization campaign against Anthem Blue Cross in California for raising rates. Obama singled out the company in a “60 Minutes” interview, and Sebelius sent a nasty-gram demanding that Anthem “justify” its rate hikes to the federal government. A private company trying to survive in the marketplace was forced to “explain” itself to federal bureaucrats and career politicians who have never run a business (successful or otherwise) in their lives. Sebelius went even further. She called on Anthem to provide public disclosure on how the rate increases would be spent — a mandate that no other private companies must follow.


We already have a federal pay czar requiring companies to justify their pay raises and claiming authority to claw back bonuses already paid. Will the White House next demand that other businesses — not just health insurers — justify price increases deemed unreasonable, excessive or “extraordinary”?


On Capitol Hill, Democratic chief inquisitor Henry Waxman trained his sights on executives from Deere, Caterpillar, Verizon and AT&T in a brass-knuckled effort to silence companies speaking out about the cost implications and financial burdens of Obamacare. He scheduled an April 21 show trial of corporate heads who dutifully reported writedowns related to the Obamacare mandates. Obama Commerce Secretary Gary Locke joined in on the witch-hunt, pummeling the companies on the White House blog and TV airwaves for their “premature” and “irresponsible” disclosures.


After the Democrats’ own congressional staff pointed out that the companies “acted properly and in accordance with accounting standards” in submitting filings that were required by law, Waxman called off the hounds. But it was a temporary reprieve. Sebelius’ threat last week against individual market health insurers who raise rates to cope with new federal coverage mandates will be far from this desperate administration’s last.


As health costs skyrocket, doctors abandon the profession, hospitals lay off workers and private insurers shut down, the only way to quell the Obamacare backlash will be through an even more thuggish campaign to demonize, marginalize and silence nationwide dissent.




Well, it's nice of Jim Geraghty at Rich Lowry's NRO to try and tell us what a wonderful, somewhat conservative Republican Mike Castle is. Think about it, folks. In the video Jim posts, one I also posted, Castle basically claims we are now in the era of bi-partisan national health care, whether we like it, or not. And that doesn't bother NRO, they actually think it's a good thing.


It's time to admit what a dismal failure Rich Lowry is. It isn't as if it's a big secret in conservative circles. National health care? Obviously, that's no problem, according to Lowry's NRO. The truth is, NRO isn't capable of leading anything when it comes to a movement, not a conservative one, any way. I don't even want  to think of the kind of movement a conservative should associate with Lowry's NRO today.


As for what they don't want you to know about Mike Castle, how's this from Redstate, for starters, with more below. Castle has forty years in, allegedly, as a public servant. How many honest people who work hard for a living every day are able to accumulate personal wealth in excess of 8 million dollars on what is little more than an honest pay check? Why isn't NRO interested in whatever corruption could lead to Castle accumulating that kind of wealth as a member of the House?



He is a forty year career politician who happens to call himself a Republican, as once did Charlie Crist, Arlen Specter and Jim Jeffords. Mr. Castle is a habitual tax raiser. He is unwaveringly pro abortion and he has earned an F- rating from The NRA. He voted for TARP, Porkulus, the auto and banking industry takeovers, Cash for Clunkers as well as Cap and Trade. Most recently, he co-sponsored the disclose act which is nothing more than an assault on the first amendment designed to muzzle his political opposition.


While on the topic of opposition; Mr. Castle has made it clear that were he elected senator, regardless of his political affiliation, he has no intention of opposing current Democrat policies. This is entirely consistent with Mike Castle’s long liberal record of growing government.


In his forty years as a “public servant” Mike Castle has managed to accumulate for himself an estimated $8 million dollar personal net worth. Now he has decided to make an issue of his conservative primary challenger’s finances.


NRO doesn't, as Buckley intoned, stand athwart history and yell stop, any more. They stand outside corporate and donor offices saying, how much? That, when they're not standing outside establishment Republican's Hill offices saying, can I please come in? Look how nice we were, endorsing John McCain! Look at how we embarrassed ourselves to help elect your pick, liberal Mike Castle in Delaware.


We're NRO. We're the conservative voice of American politics (wink wink). Okay, really, we're just Republican whores and we have absolutely no shame about it. Just keep the cash and the access coming, we'll be good little boys and girls.


As if John McCain wasn't enough and perhaps arguably excusable - now it's liberal Mike Castle, too? They're smart enough to know Castle plays the usual games with his voting, providing just enough cover to remain a Republican, while selling us out on everything that truly counts. An F rating from the NRA. He voted for the Disclose Act, Cap and Trade, S-CHIP, against the surge. He's fully in bed with the SEIU. Read it at link.


And that's who Buckley's NRO is schilling for today? What a disgrace as an allegedly conservative magazine. Bill Buckley wouldn't line his bird cage with the establishment rag Lowry has made NRO into today. While we're throwing out corrupt politicians, we might do well to throw out Lowry and some of the GOP flacks and hack writers at NRO so willing and quick to sell out conservatism today, as well.




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12th Annual Charity Golf Tournament benefitting the Eureka Camp Society-Apex Secondary School-presented by SNC LAVALIN Pacific Liaicon and Associates Benefitting the Eureka Camp Society-Apex Secondary School photos by Ron Sombilon Gallery (368) by Ron Sombilon Gallery







12th Annual Charity Golf Tournament benefitting the Eureka Camp Society-Apex Secondary School-presented by SNC LAVALIN Pacific Liaicon and Associates Benefitting the Eureka Camp Society-Apex Secondary School photos by Ron Sombilon Gallery (368) by Ron Sombilon Gallery






























Saturday, September 18, 2010

managing personal finances





Are you a fan of the GTD personal productivity system? Well if you like "Getting Things Done," here's GFD, Getting Finances Done, which shows you how to map David Allen's same principals to managing your personal finance and achieving your financial goals.



Applying GTD principles to your personal finances - Part 1 [Getting Finances Done]










Are you a fan of the GTD personal productivity system? Well if you like "Getting Things Done," here's GFD, Getting Finances Done, which shows you how to map David Allen's same principals to managing your personal finance and achieving your financial goals.



Applying GTD principles to your personal finances - Part 1 [Getting Finances Done]







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MABUHAY ALLIANCE HOST THE 6TH ANNUAL ECONOMIC DEVELOPMENT CONFERENCE by mabuhayalliance




































Tuesday, September 14, 2010

personal finance and budgeting




  • Average gas prices--September 13, 2010



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  • What Obama's transportation proposals mean for travelers



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  • Cash for appliances: Rebates aplenty in states big and small



  • Apple curtails its free case program for the iPhone 4



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  • September could be Home Star’s month—or not



  • LG's 60PX950, the first THX 3D plasma, headed to the CR Test labs!







Use Prepaid Travel Cards to Budget Travel Expenses





Vacation is a time to let loose and have a little fun. It's all too easy, however, to let having a little fun turn into spending way too much. Use prepaid travel cards to keep spending contained, secure, and in budget.

Photo by eliazar.


Finance and frugality blog WiseBread shares a set of tips on using prepaid travel cards for safe, secure, and budget-friendly travel spending.



A prepaid travel card is generally usable in the place of a debit or credit card. You can withdraw cash at an ATM, pay for purchases, and make travel reservations. And as the name suggests, you prepay these expenses by loading money onto the card.


It is just as secure as a debit or credit card, since the prepaid travel card is protected by a PIN and/or signature. In fact, some would say that prepaid travel cards are even more secure, since the money is not linked to your bank account and has a limited balance (which limits your exposure).


It can also be a handy tool for budgeting, since you would load only the money you plan on spending for the trip onto the card, which helps you stick to your travel budget.



Check out the full article at the link below for additional tips and tricks including what to look for when shopping for a card like avoiding cards with a cash-out fee. Have your own tips for keeping your money secure and sticking to a budget while traveling? Let's hear about it in the comments.



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Samsung NX100 mirrorless compact launched and previewed: Digital <b>...</b>

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Thursday, September 2, 2010

budgeting personal finances




  • Daily Dispatch: Navteq works to humanize GPS directions; Skyfire: flash capable iPhone browser submitted to Apple for approval



  • Q&A: Are liquid calcium supplements better?



  • Daily electronics deals



  • Labor Day deals without the legwork



  • Recycle your old rechargeable batteries



  • Apple revamped iPods, iTunes, and more



  • Bad eggs: 10 ways to cut your salmonella risk



  • New Whirlpool plant cooks up some jobs in Tennessee



  • Hurricane Earl: Keep yourself and your food safe



  • Should you buy an all-new car or a proven carry-over car?







Use Prepaid Travel Cards to Budget Travel Expenses





Vacation is a time to let loose and have a little fun. It's all too easy, however, to let having a little fun turn into spending way too much. Use prepaid travel cards to keep spending contained, secure, and in budget.

Photo by eliazar.


Finance and frugality blog WiseBread shares a set of tips on using prepaid travel cards for safe, secure, and budget-friendly travel spending.



A prepaid travel card is generally usable in the place of a debit or credit card. You can withdraw cash at an ATM, pay for purchases, and make travel reservations. And as the name suggests, you prepay these expenses by loading money onto the card.


It is just as secure as a debit or credit card, since the prepaid travel card is protected by a PIN and/or signature. In fact, some would say that prepaid travel cards are even more secure, since the money is not linked to your bank account and has a limited balance (which limits your exposure).


It can also be a handy tool for budgeting, since you would load only the money you plan on spending for the trip onto the card, which helps you stick to your travel budget.



Check out the full article at the link below for additional tips and tricks including what to look for when shopping for a card like avoiding cards with a cash-out fee. Have your own tips for keeping your money secure and sticking to a budget while traveling? Let's hear about it in the comments.




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Coast Guard: Platform on fire in Gulf; 13 workers rescued – This <b>...</b>

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Alzheimer&#39;s Trade-off For Mentally Active Seniors - Science <b>News</b>

Stimulation delays cognitive decline, but disease advances quickly once it starts.

Small Business <b>News</b>: Social Media Power!

If you haven't figured it out, gotten on board, jumped on the bandwagon (pick your own expression)...well, we're not going to try to talk you into it. Just be.



From Quicken Loans: The hard-working Quizzle team celebrates its 100,000th account! by QuizzleTown



























Wednesday, September 1, 2010

tracking personal finances



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Rupert Murdoch and <b>News</b> Corp. to Be Swing Vote for 99-Cent iTunes <b>...</b>

The Los Angeles Times reports that Apple is still working to convince media companies to adopt its plan for 99-cent TV show rentals through its iTunes Store. According to those close to the negotiati.

Michelle Malkin » Great <b>News</b>! More Economic Stimulus on the Way

Great News! More Economic Stimulus on the Way. ... Breaking News: Obamas Having a Great Time on Vacation. August 25, 2010 03:24 PM by Doug Powers. 38 Comments | 1 Trackback � Tennessee Football Coach Says He Was Fired For Recording ...

BBC Sharing <b>News</b> Videos With Russia&#39;s GZT.ru | paidContent:UK

The BBC has signed a deal to syndicate news video to the website of Moscow newspaper Gazeta. The arrangement will mean videos from BBCRussian.com appearing on GZT.ru, together with BBCRussian.com branding. BBCRussian.com is a service of ...






























Wednesday, August 25, 2010

personal finance planning





photo: elycefeliz 


Do you want to become rich beyond your wildest dreams? The question may seem right out of a late-night infomercial — unless you follow one strategy that may actually help you achieve it: Act poor.


If you do this, you’ll be fast on your way to having a million dollars — or more. That money can buy you a lot of stuff, of course, which would allow you to act rich and show off in no time. But if you’re smart, you’ll use it to buy freedom and give yourself options that the rest of your graduating class won’t have because they just weren’t as smart coming out of the box.


What do I mean by “act poor?” Pretty much act like you have for the past four years. Maybe even live with Mom and Dad for a year or so, promising that you’ll tell them when you’re coming home at night and help with the dishes. (As a parent, I had to say that.) The point of keeping your expenses low is to save your socks off.


Your friends probably won’t be doing this. The moment they get jobs, they’re going to want a better car; fewer roommates; dinners on the town. And that’s ever so tempting to do since you’ve likely suffered through lean years as a college student. And that new job you’re getting could allow you to pay for some luxuries, even if it doesn’t pay a lot.


But there’s a great pay off to living like a college student. If you manage to save really prodigiously for just a couple of years, you can build an emergency fund that will tide you over when times are really bad. And you can get started on long-term stock market investing at the best possible time.


How could I possibly say that this is the best possible time to be investing in the stock market, when stocks have gone nowhere for a full decade? I’m a student of the market, the author of Investing 101 and can say with some authority that the market’s miserable decade-long performance is exactly what spells huge opportunity for you.


A company called Ibbotson Associates has been compiling data on investments for decades. Let me throw a few of their statistics at you so you can understand why I’m so bullish — and particularly bullish for those of you who get to start investing now.


Average stock market returns from 1926 to the present work out to 9.6% for big company stocks and 11.67% for small company stocks. But stocks rarely hit that average in any given year. Instead, prices dive and soar, scaring out the faint of heart — and those who don’t understand why they’re investing. These price swings are often lasting, which is why you never invest short-term money in stocks. Put the rent money in the stock market, and a normal market swing might just send you back to living with Mom and Dad. But over the long run, those downswings are matched by equally rewarding upswings.


Consider: During the decade of the 1920s, big company stocks returned an average of 19.2%, according to Ibbotson — way above the long-term average. But the next decade was miserable, with returns on big company stocks dropping 0.1% over the 10 year period. In other words, if you invested $10,000, at the end of that decade, you would have a little less than $10,000 and probably feel demoralized. What happened then? In the 1940s, market returns were pretty manic — alternating between big losses and huge gains. The average return, however, ended at 9.2%. Still, because of the really rotten returns in the 1930s, investors could expect a “catch-up” decade and they got it. During the 1950s, average stock returns rose 19.4%.


Stock gains were below average in the 1960s and 70s —  up 7.8% and 5.9% respectively; then way above average in the 1980s and 1990s — up 17.8% and 18.2% respectively. Are you detecting a pattern?


Okay, so the relevant decade for you was the one just completed, when stock prices fell 1% on average, according to Ibbotson. That’s the worst decade in history, which is a really good sign when you’re starting now.


It’s not clear whether your “catch up” returns will hit this year, next year or some time in the future, but the chances are great that you’ll get a stretch of above-average returns. What does that mean in dollars and cents?


For the updated version of Investing 101, I did an analysis of what would happen to somebody who put $1,000 a month into the stock market starting in January of 1970 — the last really miserable decade for stocks– and stuck with it for 30 years. The first decade was rotten (5.9% returns), but the next two decades were awesome.


At the end of 30 years, this investor had $4.03 million. If he earned just the average return over that time– or earned his returns in a different order — he would have had $1 million less — $3.08 million to be precise. Why? He had the least at stake when returns were rotten and a lot of money to compound when times got good.


I know $1,000 a month is an insane amount and feels really crazy to you now. You don’t have to save that much to get a big reward; you just have to start saving as much as you can.


But if you get a job where your employer offers a 401(k) plan, it’s not as hard as you might think to save even that stunning $1,000 a month. That’s because your contributions come out before tax, which reduces your out-of-pocket cost because it also cuts your tax withholding, and most employers match your contributions — some even at 100% on the dollar.


In other words, you contribute $500 and your employer contributes $500. And because your contribution comes out before tax, your paycheck is reduced by just $400 (assuming you pay 20% of your income in state and federal tax).


Think you can’t save that much — or even at all? Try tracking all of your expenses, suggests Danny Kofke, a special education teacher and author of How to Survive (and Perhaps Thrive) on a Teacher’s Salary.


Little things like going to lunch each day, instead of packing a sandwich, are likely to cost you about $5 bucks a day, $25 a week and $1,300 a year. The soda that you buy from a vending machine is likely $1 more than the one you bought at the store. And, of course, if you put off buying that new car and drive your junker (or take the Metro or bus), you’re likely to save $150 to $300 each month on car payments, too.


“Times are tough to get a job, but if you can start off without immediately getting used to spending how much you’re making, you can get way ahead,” Kofke said.


This is the formula that Thomas Stanley explains in The Millionaire Next Door and is, in fact, the most reliable way to get rich. If you play your cards right, you could be the youngest millionaire on your block.


Kathy Kristof is a syndicated personal finance columnist, speaker and author of three books, including the recently updated Investing 101 (Bloomberg, 2008).


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Personal finance site for women LearnVest has had a big year. Launched last fall at TechCrunch50, the startup raised its first round of funding from Accel Partners and seed investors a few months ago ($4.5 million to be exact).


LearnVest has a simple goal: to help women organize their finances and learn how to become financially savvy. It’s kind of like an online version of financial planner Suze Orman blended with personal finance site Mint.com.


Today, the startup is launching three online programs, called ‘bootcamps,’ to educate women on various financial subjects, including a Financial Basics Bootcamp, Cut Your Costs Bootcamp, and Investing Bootcamp. Instead of creating a book-like online experience, LearnVest is making email newsletters the foundation of the educational sessions.


For example, the Investing Bootcamp, which costs users $7.99, teaches women how to make smart investing decisions and properly allocate their portfolios. For three weeks, women will receive daily emails with advice and actionable items that they can perform on LearnVest, making the newsletter interactive. For example, for the Financial Basics bootcamp, one of the daily actionable items is ‘Get Your Credit Score.’ Cut Your Costs Bootcamp topic range from Bootcamp topics range from ways to save on energy bills to exactly how to negotiate a lower cable bill. Learnvest will incorporate all of the information users complete and input in bootcamps into their LearnVest account.


Alexa von Tobel, LearnVest’s CEO and founder, tells me that the idea is to encourage women to not only learn, but also motivate them to make actionable decisions about their accounts and finances at the same time. She chose a newsletter format because the ‘LearnVest woman’ simply doesn’t have time to read the same information in a book. Women are more inclined to read a daily tidbit in an email vs. sitting down with a book, says von Tobel.


LearnVest held a pilot bootcamp in January and saw impressive results—8,000 people signed up for the basic financial bootcamp. With the new additions LearnVest expects to sign up a total of 40,000 participants. LearnVest plans to launch additional bootcamps in the future, including sessions realted to how to get a mortgage for a home.


The integration between the bootcamp educational sessions and the user’s LearnVest profile is key to the success of the initiative. As we wrote in our initial review of LearnVest, the site will ask you a series of questions about your financial health (i.e. how much credit card debt do you have), you life stages (i.e. do you rent, are you planning a family soon, do you own a house) and your financial education level and will diagnose your financial health and give you a snapshot of what you need to learn and improve. LearnVest will create customized plans for you, depending on your goals, and allow you to chart off your improvements and achievements.


Von Tobel says that LearnVest is steadily adding more female users flock to its site and is currently seeing 500K uniques per month. The next step is to take the site mobile, says von Tobel, and help women access LearnVest on the go.




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Thursday, August 5, 2010

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In 2006, recent Harvard grad Alexa von Tobel was headed for a job at Morgan Stanley. But though she would soon be managing the bank’s investments, she realized she didn’t know the first thing about her own finances. Most financial guides seemed to be written for middle-aged readers with millions in assets, rather than recent college grads. "I was reading every book I could find, but none of them spoke to me," she says. So she came up with the idea for LearnVest, an online personal-finance resource for young women like her, and ended up writing an 80-page business plan.


After two years at Morgan Stanley, von Tobel entered Harvard Business School in 2008. But upon winning a business plan competition held by Astia, a non-profit that supports women entrepreneurs, she took a five-year leave of absence and invested $75,000 of her Wall Street earnings to start LearnVest in November. She quickly enlisted advisors, including Betsy Morgan, the former CEO of the Huffington Post, and Catherine Levene, the former COO of DailyCandy, to help develop the site’s content and technology. In January 2009, she secured $1.1 million in seed funding from executives at Goldman Sachs.


LearnVest’s site launched a year later and has since signed up more than 100,000 members. It offers online budgeting calculators, video chats with certified financial planners on the company’s staff, and free e-mail tutorials on topics such as opening an IRA. The company earns revenue from advertising and by referring its users to companies such as TD Ameritrade. In April, after just four weeks of fundraising, von Tobel closed a $4.5 million investment round led by Accel Partners, which has also invested in Facebook and Etsy. (Incidentally, Facebook CEO Mark Zuckerberg lived in the same dorm as von Tobel at Harvard.)


Von Tobel likens LearnVest to an online version of The Suze Orman Show, but with the goal of reinforcing positive finance habits early on. “Suze Orman helps 45-year-old women get out of debt,” she says. “Why not reach 20-year-olds to keep them from getting into debt?”




As you’ll read tomorrow (or Monday), I’ve entered a new phase in my life. After years of hard work and long hours building this blog (time that I’ve enjoyed), I’ve been shifting things around so that I have more free time. As a result, I’m going to have more time to devote to creating quality blog posts, instead of rushing around at the last minute looking for something to write about.


Because of this, it’s time yet again to take requests. I do this about once a year, and it’s a great way to get a feel for what GRS readers are interested in. I’d be grateful if you’d take the time to leave a comment below with topic suggestions or article requests. It doesn’t matter if we’ve covered the subject in the past. If you’d like me (or one of the other GRS staff) to write about it, let me know.


Have there been too many articles about credit cards? Too few articles about credit cards? Would you like to know more about individual savings accounts? Do you like the articles about the psychology of spending? Would it be helpful to have somebody come in to explain insurance concepts in plain English? Should I try to persuade my wife to share more of her recipes now and then? Let me know what you’d like to read about!


While you’re all providing feedback about the site, here are a few recent articles of note:


Over at The Simple Dollar, Trent and his readers had a thoughtful discussion about the obligations of wealth. “I think there is some inherent distrust of the rich in the mainstream of American society,” Trent writes as he describes how a wealthy person can keep from alienating his friends. There’s so much to say about this topic; I’m tempted to write an entire article about it.


GRS reader Steven writes a blog called Hundred Goals, which is about achieving your goals while managing your finances. After Sierra’s post this morning about travel, he dropped me a line to let me know that he has a recent article about how to have a great vacation.


Speaking of vacation, my pal Jason over at No Credit Needed spent time compiling day-use fees and free days for state parks across the United States. Handy page to bookmark!


And here’s more travel! At The Art of Non-Conformity, my good friend Chris Guillebeau has posted a beginner’s guide to travel hacking. I’ve been asking him to share this info for a long time; now I’ve got to take responsibility to use the knowledge he’s shared.


Finally, I’ve been giving a lot of interviews lately. I’m much more comfortable with these than I used to be. (They used to scare me to death!) Some examples:



  • Colleen from The Frisky interviewed me about how to save money even when you’re living paycheck to paycheck. This is a tough quandary, something I’m asked about a lot.


  • In an interview with BeFrugal, I discuss frugality, happiness, and conscious spending. (Note: “the ballot” should be “the balance” — I must have mumbled.)


  • Jeff Rose at Good Financial Cents also interviewed me. This interview is very much about the process of writing a book, which may or may not interest you.


  • I also spoke with Beverly Harzog from Card Ratings. We chatted about credit cards, of course, but also about other aspects of personal finance.


  • Finally, USA Weekend has a short piece on how to give your 401(k) a midyear check, for which author Richard Eisenberg interviewed me back in May. This is a perfect example of how much work goes into even a small newspaper article. Eisenberg spent 20-30 minutes on the phone with me, and I’m sure he did the same with the other folks he quotes. Plus, I’ll bet he spent a lot of time writing. I wouldn’t be surprised if there were 4-6 hours in this small piece.


Okay, one last thing before I go. Tim pointed me to a two-year-old New York Times series about the debt trap, which includes an interactive infographic showing average household debt loads over the past century.


That’s enough links for today. Please do leave a comment with topic requests or other feedback. Meanwhile, it’s time for me to go do some yardwork…










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