The Immigration Debate: Modern Slavery – 27 Million Enslaved World Wide In 2010

Rape Tree: Cartel Coyote Trail – After raping the woman Coyotes tie their undergarments in a tree

Millions ‘live in modern slavery’

Some 12.3 million people are enslaved worldwide, according to a major report. [McAuley’s World: I believe this number is inaccurate. As several of the vidoes in this post indicate, it is estimated that there are 27 million people “enslaved worldwide”]

The International Labour Organization says 2.4 million of them are victims of trafficking, and their labour generates profits of over $30bn.

The ILO says that while the figures may be lower than recent estimates, they reflect reported cases which may rise as societies face the problem.

The report calls for a global alliance to improve laws and raise awareness of what it calls a “hidden” issue.

Global problem

The report, entitled A Global Alliance Against Forced Labour, is the ILO’s second major investigation into slavery this century.

The organisation says forced labour is a global problem, in all regions and types of economy.

The largest numbers are in poor Asian countries and Latin America, but there are more than 350,000 cases in the industrialised world.

Four-fifths of forced labour is exacted by private agents and most victims are women and children, the ILO says.

The report has uncovered a significant amount of the kinds of forced labour which have been known about for a long time.

An example is bonded labour – where children are forced to do the same jobs as their parents, without hope of release.

Modern slavery is growing in some conflict zones, with the seizure of children as soldiers or sex slaves.

But the report sees the biggest deterioration in the newly globalised economy, in sectors such as the sex industry, agriculture, construction and domestic service.

Clothes Discarded Along Coyote Trail

Local knowledge

The ILO calls for better laws and stronger law enforcement to break “a pattern of impunity” in “privately-imposed forced labor”.

The report also urges societies to address the roots of the problem by working with local communities in the poorest countries.

The ILO suggests that wealthier countries could tackle the issue by looking at their labor and migration policies.

BBC developing world correspondent David Loyn says there are some positive signs of change.

Increased concern about organized crime has led to a new international protocol against people-trafficking.

Last year, trade unionists from a range of countries met in Cameroon to discuss issues including slavery and abduction, forced domestic labor and the sex trade.

The problem could be resolved in these smaller-scale non-governmental meetings, our correspondent says, because local individuals with business knowledge are more likely to uncover the practice than formal investigators.

But, he adds, it will take a lot to change the culture of forced labor, as it operates best in informal areas outside the view of the normal economy.

McAuley’s World Comments

 The video above presents statistics that supports the claim that are an estimated 27 million “slaves” world wide, over twice the number claimed in the title of this article.  UNICEF, the United Nations International Children’s Emergency Fund, reports that 1.2 million children are “trafficked” evey year. One child is trafficked every 30 seconds, two for every minute, of every minute, of every hour,of every day, 365 days a year. 1.2 million. 

I don’t agree with many of the comments above. You can “search” my blog for a number of articles, from a number of sources that refute some of the basic claims offered in the article.

Today, in 2010, most slavery is organized and does not involve “children being forced to work in the same job as their parents”, unless of course their parents have been abducted and sold into sexual slavery or a mother and daughter have been duped into coming to the United States to work as “hostesses” only to be forced into brothels.

 It maybe that some young men have followed their father’s footsteps into  “The Cartel” or “Drug Gangs”, however, that is an act of volition, a voluntary act, not an act of slavery. 

The vast majority of illegal immigration coming into the United States is controlled by Organized Crime, whether it is the Mexican Cartels, the Russian Mafia or the Oriental Triads. If you want to use their “routes of transit” you will pay for passage.

Many that are smuggled or trafficked are held for additional ransom once they arrive,. Others are simply forced to work as slaves in deplorable working and living conditions. 

Today, in 2010, there are more slaves in the world than at any time in our prior history. 

When Cities pass “Sanctuary City Laws” they are acting to foster the modern day slave trade. 

Human or sexual traffickers thrive in environments where local law enforcement is prohibited from determining an individual’s identity or immigration status by local Politicians.

Rape Trees: Psychological  and Ecological Devastation

The day after Barack Obama was sworn in as President of the United States, the Department of Homeland Security blocked the Border Patrols access to “hidden camera” vidoes like the one above. Why would the Department of Homeland Security do that?

San Francisco proudly boasts of its “Sanctuary City” status, yet it may well be the largest hub of human and sexual trafficking in the Free World. Not only does San Francisco harbor and protect the human smugglers, the sex traffickers, SanFrancisco also ignores our Immigration Laws. Today, San Francisco turns it’s back on those who have been “sexually trafficked” and are being degraded on a daily basis as they live their lifes as “sexual slaves”. Click on video below, then click on “Watch on You Tube”.   

THE UNICEF / MTV EXIT VIDEO – Performed by The Killers

Click on video below, then click on “Watch on You Tube”.


Slavery Map.Org From The University of San Francisco


Review of Judge Bolton’s Decision: The Immigration Debate: The Arizona Law – Judge Bolton’s Decision (Part 1) 

A comprehensive review and analysis of Judge Bolton’s erroneous decision.

Read why the Judge was wrong – compare “Congressional intent” with the Judge’s reasoning.

With these PDF documents:

Bolton’s Decision

DOJ Memo 04/02/2010

Links to:

DOJ Complaint

Arizona Law

The actual Immigration Statutes that should have “controlled” the Judge’s decision.

Official Web Sites of: DOJ/DHS/LESC/NSEERS/FBI

What does Congress “mandate” be done and by whom.

Goldman Sachs Details Where Bailout Cash Went: $4.3 Billion to European Banks

International banks and financial companies were indirect beneficiaries of the government’s 2008 bailout of American International Group Inc., according to newly released documents.

The documents released by Sen. Chuck Grassley, R-Iowa, contain a list of the 27 banks, hedge funds and financial companies that received 3). $4.3 billion from Goldman Sachs Group Inc.. The money was to reimburse them for losses on investments called credit default swaps that plunged in value during the financial crisis.

Senator Chuck Grassley

The money trail actually began with AIG, which sold the swaps to Goldman. The big investment bank in turn sold them to its customers, including the international banks and financial companies. When AIG received a bailout worth $182.5 billion, it reimbursed Goldman and other banks, which then repaid their customers.

Credit default swaps are essentially contracts that insure against the default of bonds and corporate debt. Sellers of swaps, such as AIG, are obligated to repay customers if the value of the underlying bonds or debt declines.

Much of the federal rescue money for AIG was used to pay its obligations to its Wall Street trading partners on credit default swaps. 1).The biggest beneficiary of the AIG money was Goldman Sachs, who received $12.9 billion.

According to Grassley, the documents show that the five banks or companies ultimately receiving the largest amount of taxpayer money were DZ Bank AG in Germany, which received $1.18 billion; Banco Santander Central Hispano SA of Spain, which received $484 million; Ireland’s Zulma Finance PLC, which received $416 million; Infinity Finance PLC in Britain, which received $277 million; and Britain’s Sierra Finance PLC, which received $223 million.

Another $173 million went to Hongkong & Shanghai Banking Corp., which has HSBC operations throughout the U.S.

Goldman had previously disclosed that it had made payments to its customers, but did not say who the recipients were. It gave the information to Grassley after he threatened to subpoena the bank. Grassley released the documents showing the payments late Friday.

The payments have been controversial because of concerns that the banks should have absorbed more losses on their investments rather than be reimbursed with taxpayer money. Last month, a watchdog panel raised new doubts over the likelihood taxpayers will be fully repaid for the government’s bailout of AIG.

Former Treasury Secretary Henry Paulson - Former Goldman Sachs Chairman & CEO

The government determined that a collapse of AIG would be systemically disastrous,” Goldman Sachs spokesman Lucas van Praag said. “And of course if a systemic problem had ensued, we along with every company in the world would likely have been affected.”

[Yes, and exactly how would have Goldman been affected? Read on …]

Remember this story:

Goldman Sachs Made BILLIONS Shorting AIG, March 2009

Goldman Sachs (GS) reiterated its claim this morning that it wouldn’t have lost anything had AIG (AIG) been allowed to fail. Indeed, the bank says, it was fully hedged. Actually, it was far more than that. It was not just fully hedged — Goldman Sachs had positioned itself to profit big-time from the fall of AIG.

Zero Hedge runs the numbers:

In a nutshell – Goldman had bought billions in AIG CDS in the 2004 to 2006 timeframe. Whether this was predicated by their expectation that subprime would blow up, or their very early understanding just how bad things at AIG were, one will never know, especially not the SEC. However, one look at the CDS chart below shows what prevailing levels for AIG’s CDS was in that time frame. As one can see, AIG 5 yr CDS traded in a range of 4 bps to 52.50 bps between October 1, 2004 (only goes back so far) and December 31, 2006. Indicatively 5 yr CDS closed yesterday at a comparable running spread equivalent of 1,942 bps.

Purchasing $10 billion in CDS (roughly in line with what Viniar claims happened) at a hypothetical average price of 25 bps (and  realistically much less than that) and rolling that would imply that at today’s AIG 5 yr CDS price of 1,942 bps, 2). the company made roughly $4.7 billion in profit from shorting AIG alone!

 [So let’s review the numbers from above:

Observation 1). AIG makes its largest single payment to Goldman Sachs – $12.9 billion dollars, however,

Observation 2). Goldman has stated that they were fully hedged and would not have lost a penny had AIG failed, in fact, Goldman is reported above, to have made $4.7 billion “shorting” AIG CDS.

Observation 3). Goldman paid out a reported $4.3 billion to European partners who purchased AIG CDS and we, the U.S. Taxpayers, have no idea if Goldman’s partners “shorted” the AIG CDS … making a profit on the CDS investment by following Goldman’s example of “shorting”. It is entirely possible that, like Goldman, these “partners” never lost a dime on their CDS “investments” with AIG, but actually profited from them.

Question 1). Regardless if Goldman’s partners made a dime, where did the remainder of the money go. Goldman received 12.9 billion and then made 4.7 billion shorting the CDS for a “net income” of 17.6 billion. Goldman paid out $4.3 to its “partners” based on the documents obtained by Senator Grassley. 17.6 billion minus 4.3 billion leaves $13.3 billion unaccounted for … $13.3 billion. Was that amount simply a “gift” from U.S. taxpayers? You can dole out some hefty bonuses with $13.3 billion…

 and this story

 Wall St. Helped to Mask Debt Fueling Europe’s Crisis

Wall Street tactics akin to the ones that fostered subprime mortgages in America have worsened the financial crisis shaking Greece and

Former New York Reserve - Current Obama Tresury Secretary Tim Geithner

 undermining the euro by enabling European governments to hide their mounting debts.

As worries over Greece rattle world markets, records and interviews show that with Wall Street’s help, the nation engaged in a decade-long effort to skirt European debt limits. One deal created by Goldman Sachs helped obscure billions in debt from the budget overseers in Brussels.

Even as the crisis was nearing the flashpoint, banks were searching for ways to help Greece forestall the day of reckoning. In early November — three months before Athens became the epicenter of global financial anxiety — a team from Goldman Sachs arrived in the ancient city with a very modern proposition for a government struggling to pay its bills, according to two people who were briefed on the meeting.

The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.

It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means.

Athens did not pursue the latest Goldman proposal, but with Greece groaning under the weight of its debts and with its richer neighbors vowing to come to its aid, the deals over the last decade are raising questions about Wall Street’s role in the world’s latest financial drama.

As in the American subprime crisis and the implosion of the American International Group, financial derivatives played a role in the run-up of Greek debt. Instruments developed by Goldman Sachs, JPMorgan Chase and a wide range of other banks enabled politicians to mask additional borrowing in Greece, Italy and possibly elsewhere.

In dozens of deals across the Continent, banks provided cash upfront in return for government payments in the future, with those liabilities then left off the books. Greece, for example, traded away the rights to airport fees and lottery proceeds in years to come.

Critics say that such deals, because they are not recorded as loans, mislead investors and regulators about the depth of a country’s liabilities.

Some of the Greek deals were named after figures in Greek mythology. One of them, for instance, was called Aeolos, after the god of the winds.

The crisis in Greece poses the most significant challenge yet to Europe’s common currency, the euro, and the Continent’s goal of economic unity. The country is, in the argot of banking, too big to be allowed to fail. Greece owes the world $300 billion, and major banks are on the hook for much of that debt. A default would reverberate around the globe.

Federal Reserve Chairman Ben Bernanke

A spokeswoman for the Greek finance ministry said the government had met with many banks in recent months and had not committed to any bank’s offers. All debt financings “are conducted in an effort of transparency,” she said. Goldman and JPMorgan declined to comment.

While Wall Street’s handiwork in Europe has received little attention on this side of the Atlantic, it has been sharply criticized in Greece and in magazines like Der Spiegel in Germany.

“Politicians want to pass the ball forward, and if a banker can show them a way to pass a problem to the future, they will fall for it,” said Gikas A. Hardouvelis, an economist and former government official who helped write a recent report on Greece’s accounting policies.

Wall Street did not create Europe’s debt problem. But bankers enabled Greece and others to borrow beyond their means, in deals that were perfectly legal. Few rules govern how nations can borrow the money they need for expenses like the military and health care. The market for sovereign debt — the Wall Street term for loans to governments — is as unfettered as it is vast.

“If a government wants to cheat, it can cheat,” said Garry Schinasi, a veteran of the International Monetary Fund’s capital markets surveillance unit, which monitors vulnerability in global capital markets.

Banks eagerly exploited what was, for them, a highly lucrative symbiosis with free-spending governments. While Greece did not take advantage of Goldman’s proposal in November 2009, it had paid the bank about $300 million in fees for arranging the 2001 transaction, according to several bankers familiar with the deal.

Such derivatives, which are not openly documented or disclosed, add to the uncertainty over how deep the troubles go in Greece and which other governments might have used similar off-balance sheet accounting.

The tide of fear is now washing over other economically troubled countries on the periphery of Europe, making it more expensive for Italy, Spain and Portugal to borrow.

For all the benefits of uniting Europe with one currency, the birth of the euro came with an original sin: countries like Italy and Greece entered the monetary union with bigger deficits than the ones permitted under the treaty that created the currency. Rather than raise taxes or reduce spending, however, these governments artificially reduced their deficits with derivatives.

Derivatives do not have to be sinister. The 2001 transaction involved a type of derivative known as a swap. One such instrument, called an interest-rate swap, can help companies and countries cope with swings in their borrowing costs by exchanging fixed-rate payments for floating-rate ones, or vice versa. Another kind, a currency swap, can minimize the impact of volatile foreign exchange rates.

But with the help of JPMorgan, Italy was able to do more than that. Despite persistently high deficits, a 1996 derivative helped bring Italy’s budget into line by swapping currency with JPMorgan at a favorable exchange rate, effectively putting more money in the government’s hands. In return, Italy committed to future payments that were not booked as liabilities.

“Derivatives are a very useful instrument,” said Gustavo Piga, an economics professor who wrote a report for the Council on Foreign Relations on the Italian transaction. “They just become bad if they’re used to window-dress accounts.”

In Greece, the financial wizardry went even further. In what amounted to a garage sale on a national scale, Greek officials essentially mortgaged the country’s airports and highways to raise much-needed money.

Aeolos, a legal entity created in 2001, helped Greece reduce the debt on its balance sheet that year. As part of the deal, Greece got cash upfront in return for pledging future landing fees at the country’s airports. A similar deal in 2000 called Ariadne devoured the revenue that the government collected from its national lottery. Greece, however, classified those transactions as sales, not loans, despite doubts by many critics.

These kinds of deals have been controversial within government circles for years. As far back as 2000, European finance ministers

Senator Chris Dodd

 fiercely debated whether derivative deals used for creative accounting should be disclosed.

The answer was no. But in 2002, accounting disclosure was required for many entities like Aeolos and Ariadne that did not appear on nations’ balance sheets, prompting governments to restate such deals as loans rather than sales.

Still, as recently as 2008, Eurostat, the European Union’s statistics agency, reported that “in a number of instances, the observed securitization operations seem to have been purportedly designed to achieve a given accounting result, irrespective of the economic merit of the operation.”

While such accounting gimmicks may be beneficial in the short run, over time they can prove disastrous.

George Alogoskoufis, who became Greece’s finance minister in a political party shift after the Goldman deal, criticized the transaction in the Parliament in 2005. The deal, Mr. Alogoskoufis argued, would saddle the government with big payments to Goldman until 2019.

Mr. Alogoskoufis, who stepped down a year ago, said in an e-mail message last week that Goldman later agreed to reconfigure the deal “to restore its good will with the republic.” He said the new design was better for Greece than the old one.

In 2005, Goldman sold the interest rate swap to the National Bank of Greece, the country’s largest bank, according to two people briefed on the transaction.

In 2008, Goldman helped the bank put the swap into a legal entity called Titlos. But the bank retained the bonds that Titlos issued,

Congressman Barney "There is nothing wrong with Fannie or Freddie" Frank

 according to Dealogic, a financial research firm, for use as collateral to borrow even more from the European Central Bank.

Edward Manchester, a senior vice president at the Moody’s credit rating agency, said the deal would ultimately be a money-loser for Greece because of its long-term payment obligations.

Referring to the Titlos swap with the government of Greece, he said: “This swap is always going to be unprofitable for the Greek government.”

McAuley’s World Comments:

The fraud that Congress just passed, the aptly named Dodd – Frank Bill, or the Financial Reform Act as it is more commonly called, does nothing to prevent or control these types of activities:

1). Fannie and Freddie are not covered or even addressed in the Dodd-Frank Bill. 

2). Sovereign debt is not covered by the Bill either…

So in summary … AIG was bailed out to the tune of $180 billion plus U.S. dollars, all from the American Taxpayer. As the financial crisis unfolded, up until the present day, Obama’s current Treasury Secretary Tim Geithner, Geithner’s predecessor as Treasury Secretary, Henry Paulson (a prior Chairman and CEO of Goldman Sachs) and current Federal Reserve Chairman Ben Bernanke all testified before Congress and the American people that the Financial Bailout was a necessity to prevent a complete collapse of our financial systems… That AIG’s failure would lead to the failure of Goldman Sachs … and Goldman Sach’s failure would lead to… and so on and so on… Only now do we find out that even had AIG failed, Goldman Sachs stood to profit from the failure, that the true beneficiaries of the AIG bailout were European banks and the anonymous purchasers of AIG Credit Default Swaps, purchasers who may have, like Goldman Sachs, completely hedged their investment in the AIG CDS in the first place … American Taxpayers may find out one day that, like TARP, the Troubled Asset Relief Program, a “Program” that never purchased even one “Troubled Asset”, that the true beneficiaries of the “Financial Industry Bailout”, were not the “advertised” beneficiaries at all …  and that, at a minimum, there is at least $13.3 billion dollars given to Goldman Sachs that isn’t accounted for…

Tim Geithner: Too Close to Goldman Sachs to Be Treasury Secretary, Critic Says     01/21/2009  

Tim Geithner apologized for not paying his taxes and some Republicans criticized his involvement in the TARP program at today’s hearing, but Barack Obama’s nominee for Treasury Secretary appears on track for confirmation.

Congress is “all in a panic” and “really clueless” about this all-important member of Obama’s cabinet, says Christopher Whalen, managing director and co-founder of Institutional Risk Analytics. “I’m just not sure Tim Geithner is the guy we should have driving the bus.”

Beyond his tax gaffe, which will mainly serve to politically weaken Obama’s pick, Whalen says Geithner is the wrong many for the job because of his decision-making as President of the New York Fed.

“I believe Tim Geithner only represents part of Wall Street – Goldman Sachs,” he says, suggesting Goldman was the “primary beneficiary of the AIG bailout” and notes Goldman alum Stephen Friedman serves on the board of the NY Fed. (Hank Paulson and Robert Rubin, with whom Geithner had frequent meetings in the past year, are also Goldman alum.)

Whalen further questions the inconsistency of the Fed’s decision to rescue Bear Stearns – in the end, their debt and shareholders got something – while letting Lehman Brothers “go to hell.” 

In the end, Whalen says he’ll fully support Geithner if and when he’s confirmed: “We have to be successful,” he says. “This is not about personality.”

Check out the video embedded in this article.,C,BAC,XLF,MS,JPM,%5EDJI 

ALSO SEE: AIG’s Secret Bailout Partners – AIG Bailout Funds Funneled To Secret Partners – Partial List Of Cash Recipients Released : A list obtained by Fortune includes the names of many foreign banks – as well as U.S. giants such as Goldman Sachs. An article that details the “payments” made to foreign banks by AIG directly, payments made in addition to the “indirect payments” made by Goldman Sachs.

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