Tag: managing

Karen Hudes Warns the World On the brink of a Currency War and at the edge of World War 3

Karen Hudes

https://www.facebook.com/karen.hudes.9

Biography:

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.

In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules. The 66 year old Gentlemen’s Agreement that Europe would appoint the Managing Director of the IMF and US would appoint the World Bank President ended in 2010.

Bank Corruption

Date: 05-25-13
Host: John B. Wells
Guests: Karen Hudes

Joining John B. Wells, former World Bank attorney and whistleblower Karen Hudestalked about how she uncovered corruption in the World Bank.

Who is Karen Hudes?

Karen Hudes studied law at Yale Law School and economics at the University of Amsterdam. She worked in the US Export Import Bank of the US from 1980-1985 and in the Legal Department of the World Bank from 1986-2007. She established the Non Governmental Organization Committee of the International Law Section of the American Bar Association and the Committee on Multilateralism and the Accountability of International Organizations of the American Branch of the International Law Association.

What did Karen Hudes blow the whistle on?

In 2007 Karen warned the US Treasury Department and US Congress that the US would lose its right to appoint the President of the World Bank if the current American President of the World Bank did not play by the rules. The 66 year old Gentlemen’s Agreement that Europe would appoint the Managing Director of the IMF and US would appoint the World Bank President ended in 2010http://www.imf.org/external/np/cm/2010/042510.htm

In 1999 Karen reported the corrupt take-over of the second largest bank in the Philippines. Lucio Tan, a crony of Joseph Estrada, then President of the Philippines, acquired stock owned by government employees in Philippines National Bank (“PNB”) valued more than 10% of PNB’s outstanding capital without disclosure, as required by Philippines securities laws. Tan owned Philippines Airlines, in default on its loans from PNB. The government of the Philippines loaned $493 million to PNB after PNB’s depositors made heavy withdrawals. $200 million of a loan from the World Bank and a $200 million loan from Japan were cancelled. Estrada was ultimately impeached, and in 2007 an anti-corruption court in the Philippines required Estrada to refund graft he had plundered. The Bank’s Country Director in the Philippines reassigned Karen when she asked him to sign a letter warning the Philippines’ government that the Bank could not disburse its loan without a waiver from the Board of Executive Directors since the loan conditionality was not met. The World Bank’s Internal Audit Department refused to correct the satisfactory evaluation of the Bank’s supervision performance or the flawed report of the Institutional Integrity Department to the Audit Committee of the Board of Executive Directors. When the Audit Committee requested an audit of internal controls over financial reporting, KPMG, the external auditors, circumscribed the scope of their audit in violation of Generally Accepted Accounting Principles and Generally Accepted Auditing Standards.

Two days after informing the Board’s Audit Committee of the cover-up in the Philippines, Karen was reprimanded and placed on probation. The Dutch Ministry of Foreign Affairs requested the World Bank’s Audit Committee to look into the cover- up. Instead, the Chair of the World Bank’s Audit Committee requested an inquiry into the World Bank’s Institutional Integrity Department. The Senate Committee on Foreign Relations followed up with three letters to the World Bank. The World Bank forged documents and fired Karen in contempt of Congress. The World Bank also fired the Staff Association’s lawyer. The Staff Association stated that what had happened to Karen had damaged staff morale and prevented others from reporting misconduct. The World Bank’s Ethics’ Officer left in frustration after her request for an investigation by the World Bank’s Institutional Integrity Department was turned down.

Mr. Paul Volcker headed the 2007 inquiry into the Institutional Integrity Department. The Volcker Panel was discredited after sixteen staff employed in the Institutional Integrity Department received significant damage awards in compensation for abuses of authority to intimidate them during the Volker Panel investigation. A staff-member of the EU’s anti-fraud agency, Office Lutte Anti-Fraude, on the Volcker Panel wrote to Karen:
“My Director General and I met with a number of European Executive Directors of the World Bank a few weeks ago to discuss the Volcker Panel report. At the meeting there was also discussion about governance issues. My impression was that the European Executive Directors are well apprised of all relevant issues at the Bank and no further comment by OLAF is warranted even if it was within our legal competence.”

Karen informed Senator Bayh, “[t]he ongoing cover-up is an indictment of the probity of US oversight at the Bank and I would encourage the Senate to request GAO to look into it.” Senators Richard Lugar, Evan Bayh and Patrick Leahy requested GAO to investigate “internal resistance to increased transparency and accountability at the World Bank.” http://citizenoversight.com/pdf/blwb.pdf In 2008 Karen’s Congressman, Representative Chris Van Hollen, noted “that [Karen’s] claims and concerns have already been provided to the GAO…. and to the relevant congressional committees.” In 2009 GAO stated that it could not commence the inquiry “because of challenges we recently faced in gaining access to World Bank officials.” Senator Lugar asked what was delaying the GAO review during hearings on the World Bank’s capital increase.

Mr. Pieter Stek, then Executive Director for the Netherlands, and Chair of the Board Committee on Development Effectiveness, said:
“In a multilateral institution which should be governed by the rule of law and high standards of probity the charge of concealment from the Board of Executive Directors of information relevant to the exercise of its duty of supervising management and the persecution of the person who brings this to light is extremely serious. If correct, which I believe, this poisonous cocktail undermines good governance and ultimately the effectiveness of the Bank in fulfilling its mandate. I shall continue to assist Ms. Hudes in her efforts to have due process brought to bear, preferably by the Bank itself, on these issues of governance.”

David Brooks wrote:
“Then there are violations, when someone intentionally breaks the rules. Errors can be very hard for outsiders to detect. It was people inside the companies who were most likely to report fraud, because they have local knowledge. And yet 80 percent of these whistleblowers regret having reported the crimes because of the negative consequences they suffered. This is not the way to treat people who detect error.” http://brooks.blogs.nytimes.com/2011/06/13/living-with-mistakes/?comments#permid=34

Appeal

United States Court of Appeals

FOR THE DISTRICT OF COLUMBIA CIRCUIT

  • KAREN HUDES,
  • Appellant,
  • v.
  • AETNA LIFE INSURANCE COMPANY,
  • INTERNATIONAL BANK FOR
  • RECONSTRUCTION AND
  • DEVELOPMENT,
  • KPMG LLP,
  • AND
  • MARK E. SCHREIBER,
  • Appellees
No. 11-7109

GENERAL DOCKET FOR CASE #: 11-7109

11/14/2011 View Details Motion filed by International Bank for Reconstruction and Development for summary affirmance.
12/02/2011 View Details
Exhibits		 Response in Opposition filed by Karen Hudes
12/12/2011 View Details Reply filed by International Bank for Reconstruction and
Development to response
3/8/2012 View Details Per Curiam Order filed denying motion for summary affirmance
3/9/2012 View Details Clerk’s Order filed directing party to file briefing format
4/23/2012 View Details Motion filed by Karen Hudes to extend time to file response to court order.
5/2/2012 View Details Motion filed by Karen Hudes to extend time to file response
7/9/2012 View Details Court’s 6/15/2012 offer of mediation turned down by IBRD, KPMG, Aetna and Schreiber.
8/06/2012 View Details
Exhibits		 Karen Hudes’ Opening Brief
9/05/2012 View Details Brief filed by International Bank for Reconstruction and Development
9/05/2012 View Details Brief filed by KPMG
9/05/2012 View Details Brief filed by Aetna
9/05/2012 View Details Brief filed by Schreiber
7/9/2012 View Details Court’s Order Scheduling Oral Argument for November 6, 2012
9/19/2012 View Details Karen Hudes’ Reply Brief
11/2/2012 View Details Court Order Cancelling Oral Arguments
11/20/2012 View Details Unpublished Opinion Affirming District Court
1/19/2012 View Details Request to Judicial Conference to correct court records

IN THE US DISTRICT COURT
DISTRICT OF COLUMBIA

  • Karen Hudes
  • 5203 Falmouth Road
  • Bethesda, MD 20816,
  • Plaintiff,
  • vs.
  • Aetna Life Insurance Company
  • 151 Farmington Avenue
  • Hartford, CT 06156,
  • Mark E. Schreiber
  • Edwards Angell Palmer & Dodge
  • 111 Huntington Avenue
  • Boston, MA 02199-7613,
  • International Bank for Recon-
  • struction and Development,
  • 1818 H Street, N.W.
  • Washington, DC 20433,
  • KPMG LLP,
  • c/o The Corporation Trust Company
  • 1209 Orange Street
  • Wilmington, DE 19801,
  • and
  • John and Jane Does 1-99,
  • Defendants.
Civil No.: 10-1444 JEB

CIVIL DOCKET FOR CASE #: 1:10-cv-01444-JEB

04/13/2010 View Details
Exhibits		 RESPONSE to Motion re 15 MOTION to Dismiss for Lack of Jurisdiction filed by Karen Hudes. Replies due by 04/30/2010. (elts, Deputy Clerk) [Transferred from Maryland on 8/26/2010.] (Entered: 04/30/2010)
10/15/2010 View Details AMENDED COMPLAINT against AETNA LIFE INSURANCE CO., INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT, MARK E. SCHREIBER, KPMG LLP filed by KAREN HUDES.(rdj) (Entered: 10/19/2010)
01/17/2011 View Details Memorandum in opposition to re 58 MOTION to Dismiss and Sever MOTION to Sever MOTION for Hearing, 57 MOTION to Dismiss Second Amended Complaint, 59 MOTION to DismissPlaintiffs Second Amended Complaint, 54 MOTION to Dismiss Plaintiff’s Second Amended Complaint filed by KAREN HUDES. (Attachments: # 1 Memorandum in Support, # 2 Exhibit)(Hudes, Karen) (Entered: 01/17/2011)
08/30/2011 View Details ORDER granting 54 Aetna Life Ins. Co.’s Motion to Dismiss; granting 57 Mark Schreiber’s Motion to Dismiss; granting 58 KPMG’s Motion to Dismiss; granting 59 IBRD’s Motion to Dismiss. The Court ORDERS that: (1) Defendants’ Motions to Dismiss are GRANTED WITH PREJUDICE as to all federal claims against all Defendants, and as to Plaintiff’s wrongful-termination claim against the World Bank; and (2) Defendants’ Motions to Dismiss are GRANTED WITHOUT PREJUDICE as to all other Maryland and state common-law claims. Signed by Judge James E. Boasberg on 8/30/2011. (lcjeb1) (Entered: 08/30/2011) Hudes v. Aetna Life Ins. Co., et al, 806 F. Supp 2d 180
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Alternative Currency System Secret Of Who Created Bitcoin Is Of Great Concern Truthers Want To Know Is Bitcoin A NWO Operation?

The bitcoin logo
The bitcoin logo (Photo credit: Wikipedia)

 

Alternative Currencies is something I have been interested in for awhile now that I have been enlightened about the Federal Reserve system and the IMF or International Monetary Fund run by private corporations who want to run the world and control the New World Order.  I’m working on putting together a page or categories for the best source for Alternative currency‘s or systems of Trade and Barter.  AntiNWOParty is also trying to through our hat in the ring at some point.  We are trying to create our own currency and Trade system for our community.  The Question I and I’m sure many other Truthers want to know is Bitcoin a NWO operation?   Bitcoin is an experimental new digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. Bitcoin is also the name of the open source software which enables the use of this currency. The software is a community-driven open source project, released under the MIT license.  Satoshi Nakamoto is the pseudonymous person or group of people who designed and created the original Bitcoin software, currently known as Bitcoin-Qt.  His involvement in the original Bitcoin software does not appear to extend past mid-2010.
A global currency the exact thing the New World Orders  “end game”.  Despite what we see here about Mr. Nakamoto’s views on central banking (https://en.bitcoin.it/wiki/Satoshi_Nakamoto), what if he (it?) is really using bitcoin as a test bed for a global currency? With global concerns of hyper-inflation and currency wars, it makes sense to me for something like bitcoin to become successful. What if talk of the “Sheeple” getting “chipped” just means their Bitcoin private addresses will be implanted so they can’t be stolen?

 

Max keiser says in an interview that there will only be 21 million bitcoins ever made and says nothing at all about them being divisible, it comes off as him trying to mislead people who know nothing about bitcoins to think these will be a rare item adding to the peoples desire to join in ? How can you have a Hard limit of about 21 million Bitcoins and have a global currency with     world population total number of living humans on Earth. As of today, it is estimated to number 7.073 billion by the United States Census Bureau (USCB).[1] The USCB estimates that the world population exceeded 7 billion on March 12, 2012.[2] According to a separate estimate by the United Nations Population Fund, it reached this milestone on October 31, 2011.[3][4][5] 

 

Peter Van Laer

 

One Bitcoin is divisible down to eight decimal places. There are really 2,099,999,997,690,000 (just over 2 quadrillion) maximum possible atomic units in the bitcoin design.

The value of “1 BTC” represents 100,000,000 of these. In other words, each is divisible by up to 10^8.

As the value of the unit of 1 BTC grows too large to be useful for day to day transactions, people can start dealing in smaller units, such as milli-bitcoins (mBTC) or micro-bitcoins (μBTC).

 

 

This section copied from socialcompare.com

 

Alternative currency is a term that refers to any currency used as an alternative to the dominant national or multinational currency systems (usually referred to as national or fiat money). Alternative currencies can be created by an individual, corporation, or organization, they can be created by national, state, or local governments, or they can arise naturally as people begin to use a certain commodity as a currency.

 

Mutual credit is a form of alternative currency, and thus any form of lending that does not go through the banking system can be considered a form of alternative currency. When used in combination with or when designed to work in combination with national or multinational fiat currencies they can be referred to as complementary currency. Most complementary currencies are also local currencies and are limited to a certain region.

 

Barters are another type of alternative currency. These are actually exchange systems, which only trade items; thus without the use of any currency whatsoever. Finally, LETS is a special form of barter which trades points for items. One point stands for one man-hour of work.

 

Often there are issues related to paying tax. Some alternative currencies are considered tax-exempt, but most of them are fully taxed as if they were national currency, with the caveat that the tax must be paid in the national currency. The legality and tax-status of alternative currencies varies widely from country to country; some systems in use in some countries would be illegal in others.

 

List of alternative currencies

 

 

The Rise and Fall of Bitcoin

 

Related articles

 

 

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Could 2012 NLE Cyber Attack DRILL be the Next 911 False Flag, Will This Years Drill Go Live?

By:Daniel J Leach

Reblogged: http://theintelhub.com

NLE 2012: Will This Years Drill Go Live and Result in a False Flag Cyber Attack?

The Intel Hub
By Shepard Ambellas and Alex Thomas
April 4, 2012

The summer of 2012 is fast approaching. As it inches closer, we will start to see a major increase in US and foreign troop movements as well as military equipment movements throughout the CONUS (Continental United States).

While many of the upcoming sightings may well be normal operations as the military does like to do training in the summer, the fact is that parts of our own military, along with foreign and UN troops, are actively planning to take on the American people.

National Level Exercise drills have been in effect for years now and have been covered by many alternative news sources, including The Intel Hub through our yearly Operation Overwatch which we use to gain intel and tips from the public in order to relay them to our readers.

Over the years many people have worried about the numerous National Level Preparedness drills and, in most cases, for good reason.

In 2011, the NLE focused around an earthquake on the New Madrid Fault Zone and the year before resulted in 70 thousand people being evacuated from a Texas city after a fertilizer fire.

Interestingly enough, this years FEMA national preparedness drill is focusing on the threat of a major cyber attack on America’s infrastructure.

The last year has seen dozens of cyber attacks on government websites as well as government propagandists pushing the fear of a cyber attack on the populace. Now we have the Department of Homeland Security making cyber security the main component of their annual preparedness drill.

Although only a small amount of information has been released on NLE2012, we can see from FEMA’s own website what it primary consists of.

FEMA’s website released the following PDF;

National Level Exercise (NLE) 2012Continental

National Level Exercise (NLE) 2012 is part of a series of congressionally mandated preparedness exercises designed to educate and prepare participants for potential catastrophic events.

The NLE 2012 process will examine the nation’s ability to coordinate and implement prevention, preparedness, response and recovery plans and capabilities pertaining to a significant cyber event or a series of events.

NLE 2012 will examine national response plans and procedures, including the National Response Framework (NRF), NRF Cyber Incident Annex, Interim National Cyber Incident Response Plan (NCIRP) and the International Strategy for Cyberspace.

Unique to NLE 2012 will be an emphasis on the shared responsibility among all levels of government, the private sector and the international community to secure cyberspace and respond together to a significant cyber incident.

Obsidian Analysis, the company heading up NLE12 for the private sector, states on their website:

NLE 2012 will comprise four major exercises, including a capstone event. These exercises will share common scenario elements, planning efforts and governance structure.

Participation in each exercise will be determined respectively, but the NLE 2012 process includes the Executive Office of the President; federal, state, local, tribal and territorial department and agency officials and emergency operations elements, nongovernmental and private sector organizations and international partners. These four major exercises include:

Information Exchange: This discussion-based exercise is designed to evaluate the sharing of cyber related information among the intelligence community, law enforcement, federal, state, tribal and local governments, the private sector and international partners, as appropriate

Cyber Incident Management/Virtual Effects: This exercise will examine the coordination and communication processes between public and private stakeholders in response to a significant cyber incident. This will include examining challenges related to managing a cyber event with national security implications.

NLE Capstone/Cyber Physical Effects: This functional exercise will examine challenges related to managing a cyber event with physical consequences and national security implications. This will include addressing cyber and physical interdependencies and impacts while coordinating a Whole Community level cyber and physical response.

Continuity Exercise/Eagle Horizon: This operations-based exercise will evaluate the continuity capability of federal departments and agencies. A component will include a nationwide exercise examining communications capability of the homeland security enterprise under conditions in which critical systems have been degraded or lost.

In addition to the major exercises, the NLE 2012 process will include senior level exercises, building-block events (i.e., seminars, tabletop exercises, and training) and routine exercise planning conferences.

As more information is released on these upcoming national preparedness drills, The Intel Hub will bring them to our readers attention.

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