BABEL MAGAZINE
Patriotism According to Walt Whitmer
Mon Apr 21 00:37:11 2003
208.152.73.69

Where can you find THREE female political writers in one single issue of an online magazine? Nowhere but Babel !!!

Lisa Guliani – Patriotism According to Walt Whitmer
http://www.babelmagazine.com/issue100/NWOXtaxes.html

Hero Cee – Who’s Afraid of Victor Thorn?
http://www.babelmagazine.com/issue100/whosafraid.html

Tantra Bensko – Art for Dangerous Times
http://www.babelmagazine.com/issue100/art.html

Plus, Victor Thorn’s “The New World Order Exposed” is now in its second edition.
http://www.babelmagazine.com/NWO%20EXPOSED.html

Here are some comments concerning this book. The first is from Arizona’s RC Edrington, who wrote: “The New World Order Exposed arrived today. After a quick thumbing thru I am ready to dive in. The first thought that occurred to me is that anytime someone begins to unravel the threads that demonstrate a possible ‘conspiracy,’ the naysayers state that a ‘conspiracy’ of this magnitude would be so impossible to keep secret that it just isn’t possible. What the naysayers fail to realize is that book after book with fact after fact have been published. This alleged secret has never been a secret. The reality is there, and just because the mass media refuses to engage the topic doesn’t mean the topic doesn’t exist. Long live the free, independent press!”

RC followed up with this e-mail: “Just finished your book, ‘The New World Order Exposed.’ This wasn’t a book by some ‘conspiracy crank’ as you no doubt know you will probably be labeled. It was a book by a man asking some basic, common sense questions that no one seems to want to ask, and answering them with good documentation and fact. You don’t ask your readers to make some weird leap of faith like a lot of authors in this genre have in the past. Nor do you ask them to take this work as ‘gospel.’ I see this book as an invitation for the American people to wake the hell up and take responsibility for not only their lives, but the things which take place around them. A damn good read.”

Daniel J. Deigan in Los Angeles wrote: “I don't even know where to begin. The book is outstanding, it is your masterpiece. Congratulations! I read it in one sitting and my head is just swimming! The 100th issue is great as well, but I can't believe what a splendid job you did with the book. The thing I most enjoyed was the fact that you never took the bait and went outside the realm of credibility. As you may remember, that's where I think Jim Marrs went south in "Rule by Secrecy." I think, honestly, that yours is a much better book and you may now find yourself fielding offers from many different publishers. I really hope that happens because this is an EXTREMELY IMPORTANT piece of work and it needs to get out. However I can help; let me know.”

Finally, this week’s guest on “The Victor Thorn Show” which is aired Monday night, April 21 on the Reality Radio Network at 9:00 pm EST, is Col. Craig Roberts, author of such books as “The Medusa File” and “Kill Zone.” It promises to be very interesting, so tune in at: http://www.realityradionetwork.com

=============================================

The 9/11 JPM CHASE MANHATTAN DERIVATIVES WAR!

for an introduction to the $50-trillion dollar 9-11 Wall
Street (London, Bonn, Tokyo, Zurich) bankers game, see:

"Let Slip The Dogs of War"
http://www.gold-eagle.com/gold_digest_00/hamilton122500.html

"The JPM Derivatives Monster"
http://www.gold-eagle.com/gold_digest_01/hamilton091001.html

...

http://www.bayarea.com/mld/cctimes/business/5629545.htm

Posted on Mon, Apr. 14, 2003
Fund manager predicts another depression
Michael O'Higgins thinks the country is heading into a slump that could
be worse than the Great Depression
By Harriet Johnson Brackey
KNIGHT RIDDER NEWSPAPERS


Three years ago, when Michael O'Higgins was entirely out of stocks and
into zero-coupon Treasury bonds, when he was predicting that stocks
would lose half their worth, I didn't believe him.

If you listen to O'Higgins now, you won't want to believe him either:
He's predicting another depression.

However, you might want to pay close attention, because it's possible
he's on target. Again.

O'Higgins, for whom the term contrarian is much too mild, has a record
of being right when most of us are headed in the wrong direction. And a
record of making money while we're losing it.

O'Higgins manages $200 million at his boutique investment firm in Miami
Beach that caters to clients with assets of at least $1 million. He's
been a top money manager for more than 20 years and has written
best-selling investment books, "Beating the Dow" and "Beating the Dow
with Bonds." He's best known for his Dogs of the Dow theory, which
worked well for quite a while when the market was still going up.

Today, O'Higgins won't touch a Dow stock or almost any other stock at
current prices.

Because he is looking for a depression to begin soon or to be already
in progress. "Perhaps the greatest deflation and depression of all
time," he says, "Following the greatest speculative boom in stocks of
all time."

It'll begin as the baby boomers wake up and realize that the stock
market's downturn over the past three years has wiped out almost half
their nest eggs.

"When you say it can't be like 1929 through 1931 when stocks lost 89
percent of their value, you're right. It could be worse," he says.

Boomers and consumers will begin to save more money when they realize
that the bull market is firmly over. Stock gains in the future will not
bail out an investor if he has put too little money away.

People today have higher levels of debt -- for consumers, government
and corporations as a percent of gross domestic product -- now than at
any time since 1929, he notes.

The depression will not end until that debt is liquidated, he says.

When consumers decide to save more, they'll stop spending. And the
economy's main support will collapse.

After that, you can wait and watch for the Dow Jones industrial average
to sink to 6,000. And that's his best-case scenario.

It could go as low as 3,100, if the stock market goes back to its
normal range throughout the last century for the dividend yield, which
is the figure you get if you divide a stock's dividend by its price.

Right now, O'Higgins is only interested in gold, which he sees as
undervalued and heading up because of deflation. "Because it's real
money, because it has held its value for thousands of years, because
it's not subject to the manipulations of government or central banks or
dishonest corporate executives," he says.

What's more, gold goes up when stocks go down. In 1929-1932, he notes
that gold rose 69 percent. Despite rallying the past couple of years,
its price is still far below what it traded for in 1980: $850, or
roughly 21/2 times higher than today's roughly $320 an ounce. Global
supplies of gold, too, are dwindling.

A gold stock, Newmont Mining, is the only stock he owns today, and he's
betting against the rest of the market. His strategy is risky, not
diversified and, well, daring.

"He's made some great calls over the years," said Joseph McGraw, a
hedge-fund manager who is president of Yankee Advisors in Waltham,
Mass. "Mike likes to be emphatic, but I'm pretty negative, too. I'm
concerned about deflation coming out of China. I'm concerned about the
U.S. consumer totally retrenching and freezing."

"Fundamentally I think he's correct," said money manager John N.
McVeigh of Upland Capital management in Ridgefield, Conn. "I think
we're in a secular bear market. Those typically run 10 years or more.
That takes us out, from the spring of 2000, to 2010."

For the record, this isn't the mainstream view. According to Bloomberg
News, the average Wall Street market strategist thinks you should put
68 percent of your portfolio in stocks.

The Wall Street crowd has largely been wrong throughout this bear
market that began in March 2000. Mostly because of O'Higgins' correct
bet on the direction of interest rates and bonds, the O'Higgins Fund of
Funds in 2000 soared 71.32 percent when the Dow dropped more than 6
percent, and rose 4.76 percent in 2001 when the Dow was down more than
7 percent. Last year, as he moved out of bonds and into gold, his fund
rose 19 percent, when the Dow dropped 17 percent.

Certainly, O'Higgins has not always been on target. He moved out of
stocks too early and missed the great 86 percent gain on the Nasdaq in
1999, when his fund rose only 48 percent.

As he admitted, "I'm only dealing with probabilities. I don't have any
illusions that I have a crystal ball. I just know financial history."

He makes a convincing case, in charts and newspaper clippings, for his
thought that there's little that will stop this downturn until the
speculative bubble in stocks and spending is completely deflated.

It is not so yet. For example, he notes that consumer spending has
dropped in every recession since the 1950s, but not in this one. Stock
valuations remain high, despite the long downturn.

He notes that the Federal Reserve has engineered 12 interest rate cuts,
and still the market has not responded. In practically every other
instance when the Fed cut rates since 1921, stocks rebounded.

"I would have brought you more information," he said. "But I didn't
want to ruin your lunch."

When will O'Higgins' depression end? "I suspect it'll be a long time,"
he said.
______________________

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