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Osama bin Laden fatwas.
This monster's own words will
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Maravot News Comment
04.23.06
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August 1996

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Bulgaria & neighbors

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Iran-Afghanistan-Pak.-India; Gulf of Hormuz oil lane Iran threatens to block

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Historical map of Israel. Figure 2 shows the area allocated to Israel by the UN in 1948. Compare to Israel' s interactive map below of its controversial security wall

Israel's Security Fence. Click on image for larger view or here for interactive link.

(AP) Click photo for story

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TRENDS: NEWS TO KEEP YOUR EYES ON

1.26.05 Update Impact of FY 2005 deficit US budget deficit pegged at $368 billion in fiscal 2005 plus $80 billion more for Iraq
12.23.04 US is losing war of ideas
12.21.04 United States attacking itself from behind

11.22.04 (11.26.04; 11.30.04; 12.08.04; 1.26.05 Updates) US twin deficits are causing Japanese jitters: the story behind the collapse of the dollar

This is an ongoing article. See latest EDITORIAL, Impact of FY 2005 deficit .

12.08.04 We received a response from Senator Diane Fienstein which we cuddled midst a general review of the historic repeat of Deficits from father to son: Bush I to Bush II.

While this story has been breaching for several weeks, it will continue to be a big item in the news until the world press loses interest in the money others are losing. So we're keeping it at the top of the page.

The Bush administration's deficits in both trade and fiscal budget – the Twin Deficits –are dragging down world economies. Both deficits are largely responsible for the plunge in the value of the dollar. In Japan the plunge has lasted 55 months. The Bush administration's policies have caused the yen to appreciate for the past 55 months. While the Bush administration publicly supports a strong dollar, it is reportedly accepting the weakening dollar, since a weakened dollar makes US goods and services better buys on the foreign market.

Says Yomiuri Shimbun, [http://www.yomiuri.co.jp/index-e.htm] "The yen's sharp appreciation is fueling concerns over the nation's economic recovery. But the market direction is unlikely to change soon as the recent yen appreciation is closely related to U.S. trade and fiscal deficits...According to estimates of the Dai-Ichi Life Research Institute Inc., Japan's gross domestic product will drop by 0.4 percent annually if the 100 yen-to-the-dollar level continues for a year."

The US deficit, being the source of the declining dollar, perpetuates further debt and increases interest rates and inflation. About half of the US $6 Trillion debt is owned by foreign investors (primarily banks). When investors redeem their bonds in a period when the dollar is declining, as is the case in the two Bush administrations, they lose money on their investment in US bonds. This causes potential buyers of US bonds to back out of the US bond market. When buyers back away from the US bond market, the US has to raise interest rates to draw them back into the market. Following the increase in the prime rate, mortgages and other loan rates increase.

The greatest fear in international exchange is inflation. Foreign interests who own the US public debt – who cash in five year bonds today– will lose about 35% on their investment. Historic yen and euro rates compiled in the "Decline in dollar to yen" table are from http://www.x-rates.com.

The National Debt is an exponential debt. The adding of interest, plus continued borrowing / sales of US Bonds, compounds the debt. The debt takes on the form of a "J" curve. President Bush claims that he will "halve the debt," presumably in the next four years. The Clinton years, 1993-2000, represented the most fiscally responsible administration since Nixon (see "Running a government with a credit card" below). During Clinton's term Congress had adapted and applied a "pay as you go" process, preventing further borrowing to fund the government and actually paid down the National debt through their diligence. The dedication of Congress and the President during the Clinton years is not present in the current administration of Bush II, and reducing the deficit, let alone the National Debt, would seem improbable. It appears that the National Debt has reached a point of no return, where interest on the debt alone will consume any efforts to retire the debt. The debt from 1974 through 2009 (the data are current as of 11.22.04, from the Office of Management and Budget (OMB); the years 2004 - 2009 are OMB estimates) look like this:

The National Debt data are as follows: US Office of Budget & Management – National Debt

A forty-year amortization table on a loan of $5 trillion (double everything for a loan of $10 trillion) at 7% interest:

Amortization Table for a loan of $5 trillion over 40 years @ 7% interest. Double the amount for the Bureau of Budget forecast of a $10 trillion debt by year 2009. (Click on chart for larger image.) On $5 trillion the annual payment would be about $1 billion per day; $2 billion per day on $10 trillion. Compare to the actual interest paid on the US debt, i.e., year #1 @ $375,045 billion principal & interest versus the actual interest only payments in 2004 of $321,566 billion. Perhaps the principal that was not paid over the years should be collected from the Bush family and Regean estates who ripped us off so to put a stop to this kind of irresponsible financial leadership.

Interest on the Public Debt. Compare interest paid against the Amortization Table on the left. www.publicdebt.treas.gov/

It is no wonder that foreign governments are concerned about the decline in the dollar. Americans should have studied some basic fundamentals in home financing It is no wonder that foreign governments are concerned about the decline in the dollar. Americans should have studied some basic fundamentals in home financing and not allowed their spendthrift President to get out of hand. Then again, there is hope that Americans will start to pay attention to their accounts and those they elected to manage them. Total receipts estimated in the Federal Budget for 2004 are just short of $2 trillion." Growth in receipts. – Total receipts in 2004 are estimated to be $1922.0 billion, an increase of $85.8 billion or 4.7 percent relative to 2003. Receipts are projected to grow at an average annual rate of 7.0 percent between 2004 and 2008, rising to $2,520.9 billion. This growth in receipts is largely due to assumed increases in incomes resulting from both real economic growth and inflation." [2004 FEDERAL RECEIPTS AND COLLECTIONS, p. 57]

Actual interest on the US debt since 1996 averages just short of $1 billion per day. While in the administration of Bush I, the deficit each year was essentially the same amount as the interest on the debt (they were borrowing to pay the interest on the debt), under Bush II the $400 billion + yearly deficits exceed the interest on the debt.

Mel Copeland

In the beginning....

Bush taking too long to read "My Pet Goat" reader on 9/11. Read full text.

This year's deficit caused by Bush will be a record deficit since Richard Nixon showed a surplus (in 1969). Bush calls Democrats "tax and spend liberals" when he and his father spent other people's money to run their governments! Who is it that has to pay for the deficit run up each year by a fiscally irresponsible President ? You do. You pay in several ways, since borrowed money is a worse tax on you and the economy than a legitimate tax. The National Debt is $7.4 Trillion as of 10.27.04. That debt is financed by the bond market. While the interest rates on bonds go up and down, generally the rates are affected through the Federal Reserve and supply and demand. Most of the debt during George Bush's administration (1989-1993) was carried by the G-7 Central Banks and a few others who could take large positions in the Bond Market like George Soros. Since supply and demand affect prices of bonds, the greater the supply of bonds, as in a period of excessive government borrowing, would ordinarily depress the price of bonds. To attract buyers, the Federal Reserve must raise interest rates. So when your mortgage loan goes up, owing to an increase in interest rates, its because of the Bush Borrowing: running a government on a credit card.

Since the government runs on borrowed money, the amount of the original loan (new in 2001) grows exponentially, in a curve called a "J" curve. During George Bush's years the deficit was essentially equal to the interest accumulated each year on the debt. That interest debt is added to the original loan amount causing the debt to grow [unpaid] until an effort is made to reduce the debt, paying down both principal and interest. Fearing a crash Speaker of the House Newt Gingrich announced in May 1995 that there would no longer be any borrowing on the debt. We would "pay as we go," a concept George W. Bush recently derided with reference to Kerry's attempt to restore the years of responsible government under President Clinton. Although Clinton was initially following the Bush Borrowing program – of running the government using a credit card – he converted to the Republican plan and paying down the debt became the great cause of his administration. The response from the economy was plain: it grew, became healthy, wealthy and wise. When you have savings you feel secure. When you have no savings and have trouble finding people to loan you money you feel insecure. Clinton stopped the insecurity of the Bush administration.

In 1993 I prepared a mortgage amortization table for the then $5 Trillion debt inherited from George Bush. At 7% interest a 40 year loan of that amount would result in the payment after 20 years of $6.4 Trillion in interest and $90 million in principal. After 40 years the debt would be paid off and total interest paid would be $10 Trillion.

Who makes money from Bush Borrowing are the wealthy. [More>>]

Why the Crusade & Jihad?

Without rehashing the history of Western Civilization in one paragraph, we can ascribe Christian and Jewish sentiments to defend Israel and to view America as the anointed of God (Allah, (2) in the Koran) to perceptions of pastors who spend more time feeding on the flock than feeding them. If the flock were fed properly it would not believe that it is just to kill on behalf of God. The Christian and Jewish scriptures all agree that vengeance belongs to God (i.e., as in Psalm 94.1), that the Warrior of God is a man of peace, just and charitable. I have always believed (and I know Jesus adhered to this old teaching) that if God wants to kill someone let him kill them himself. You don't need to be his agent, in my opinion. But you can assist in bringing peace to the world.

Sealed Golden Gate with the Dome of the Rock behind and a Muslim cemetery in the foreground may be the gateway to Peace in Jerusalem. It was where the priests and prophets of Israel gathered; called the Gate of Righteousness by the Prophets. As it is said: Open to me the gates of righteousness; I will go into them, and I will praise the LORD (Psalm 118.19). See Hidden Pavilions for the Biblical & traditional explanations of this concept.

Good news! The Koran says that everything in the Jewish Scriptures (Old Testament) and Gospel (New Testament) are true! As I pointed out many years ago in a conversation with Wm. F. Buckley Jr. in a series of books, including Philistia triumph thou because of me, there are points in the Koran upon which the Jews, Christians and Moslems can reconcile their disagreements, such as:

Koran, The Cow: And now that a Book confirming their own book has come to them from Allah, they deny it, although they know it to be the truth and have long prayed for help against the unbelievers...when it is said to them, 'Believe in what Allah has revealed,' they reply, 'We believe in what was revealed to us.' But they deny what has since been revealed, although it is the truth, corroborating their own scriptures.

Koran, The creator 36.24: Your only duty is to give warning...What we have revealed to you in the Book is the truth confirming previous scriptures.

Koran, Kneeling 45.16 We gave the Scriptures to the Israelites and bestowed on them wisdom and prophethood.

Koran, AL-AHQAF 46.12 Yet, before it the Book of Moses (Torah) was revealed, a guide and a blessing to all men. This Book confirms it.

Koran, Women 4.47 You, to whom the Scriptures were given! Believe in that which we have revealed, confirming your own scriptures...

Koran, The Cow 2:116 The Jews say the Christians are misguuided, and the Christians say it is the Jews who are misguided. Yet they both read the Scriptures. And the pagans say the same of both. Allah (5) will judge their disputes on the Day of Resurrection.

We can see, therefore, that Moslems are taught via the Koran to honor the scriptures and teachings Christians and Jews honor. Also, with respect to the Koran's teachings on Moslem behavior, it is clear that a Moslem cannot wage war against another Moslem, as is currently going on in Iraq and has been so throughout history:

To dispel any confusion on the Koran's view of people who do not believe in the Koran (notwithstanding the verses cited above) Mohammed went a bit too far, in my opinion, when he listed the following which confute the Bible (I know on the Day of Resurrection noted above my reading will be upheld).

There are several verses that endorse Jesus – some calling him a prophet of God (as they would have to once they accept the Gospels as truth). But this one is the gem of the lot, since it acknowledges Jesus as the Messiah. The Messiah means "anointed one" and the term was created and applied only in the Bible. Christians know the term as "Christ," which is the Greek translation of the word. The fact is, based upon what we have seen in the Koran above, all Moslems must honor the teachings of Jesus the Messiah. If there is any confusion on those teachings it can be simply resolved by opening the Gospels and reading them. They all reduce down to the Golden Rule. And it is not important that you be a Christian, Jew or Moslem to practice the Golden Rule. If you practice the Golden Rule you satisfy the teachings. For if you know those teachings you know God and if you do them you are one with God. The scripture asks, can two walk together except they agree?

The gem in the Koran of Jesus the Messiah, beyond the other verses endorsing the teachings of Jesus, which is a good foundation for some kind of reconciliation between Christians and Moslems:

The Imrans, 3.45, 47 The angels said to Mary: 'Allah bids you rejoice in a Word from Him. His name is the Messiah, Jesus the son of Mary. He shall be noble in this world and in the next, and shall be favoured by Allah. He shall preach to men in his cradle and in the prime of manhood, and shall lead a righteous life."

The term Messiah first appeared in the Bible. It means Anointed One and in Greek the term is Christ. Knowing this, then, we should endeavor to find a place of agreement and learn to walk together. A good part of the Old Testament has to do with the Messiah and what is expected of him.

One cannot walk blindly through scriptures and take them for granted however. Applying them for good becomes an art. It takes practice. One cannot apply scripture, for instance, through a rush to judgment. After all is said and done, when understanding has ruled over boiling sentiments, we can point to our results: charity, justice and mercy. Unfortunately, we are a long way from achieving those things in this current age. It may be, in order to achieve a higher level, to at least remove ourselves from a state of chaos, that we need to take account of our leaders. Then we must ask ourselves how it is that we let them lead us into this chaos. This is called, confronting your own failures. Until both sides come to grips with the goodness that is in them, and do some good in order to gain in goodness, the Jihad will probably continue.

Now President George W. Bush would lead us to believe that we can kill off the Jihadists. I don't subscribe to his program and know that an invitation to reasoning together should bear more fruit. Who in the world would ever refuse this offer:

Mel Copeland
10.28.04

For more scriptural references on the subject, see 12.23.04 US is losing war of ideas

Launched: 10.25.04 / 11.02.04
Updated: 1.01.05; 1.04.05; 1.08.04; 1.12.05; 1.14.05; 1.18.05; 1.20.05; 1.26.05; 1.28.05; 1.31.05; 2.04.05; 9.26.06; 11.16.06