Monday, August 01, 2011

Americans starve so ultra-rich can live tax-free

The rich and powerful global elite get tax breaks, and some pay no taxes. When all is figured out, hidden taxes and fees included, we pay 70% of what we make out to a wasteful government serving the global elite, not us. Was the 4 Billion given to the 22 year old below banker blood money?

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Spelling Mansion Buyer Shows Off Her Assets

Super rich 22-year-old Formula One heiress Petra Ecclestone did what anyone would do after buying Candy Spelling's mega mansion for $85 million ... she partied on a yacht in St. Tropez this weekend.


Alex Jones talks about the heiress buying a mansion and her race track owner father living life tax free in below video.

The Debt Crisis: Banksters, Thugs and Crooks - Alex Jones Tv Sunday Edition 3/6

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Uploaded by on Jul 31, 2011

On this, the Sunday Edition of the Alex Jones Show, Alex confronts the latest breaking news and takes on important issues facing the nation including the debt ceiling theater and the high drama of Democrats and Republicans as the republic slips further into economic troubled waters. Alex also takes your calls.


[source of below]

Racing heiress Petra Ecclestone buys Candy Spelling's $150 million mansion; Samir Hussein/Getty

Candy Spelling’s mansion – long on the market for $150 million, making it the highest-priced home in the United States – was sold to Petra Ecclestone, a 22-year-old heiress of the Formula One Racing fortune, according to the Wall Street Journal.

The sales price of the 57,000-square-foot Los Angeles mansion was not disclosed. It was built by the late TV producer Aaron Spelling, behind such hits as “Dynasty” and “Beverly Hills 90210.” Spelling and his wife bought the property in the early 1980s and tore down the existing house to build a French Chateau-style home in 1991, according to the Journal.


“The Manor” sits on 5 acres in Holmby Hills, and includes a bowling alley, beauty salon and parking for 100 cars. Another touch? A double staircase inspired by “Gone with the Wind.” It was the largest home in Los Angeles when it was built.

PHOTOS: Inside celebrity homes

According to, the home has 14 bedrooms and 27 baths. Other amenities include a flower-cutting room, a China room, gift-wrapping rooms and a library where Candy Spelling kept her husband’s scripts.


Spelling told The Associated Press in 2009
that she let her dog Madison, a soft-coated Wheaten Terrier, help pick out the best real estate agent. She had her security bring the dog into the room whenever she met one of the candidates. If Madison didn’t approve – they were out.

She picked agent Sally Forster Jones of Coldwell Banker. If Ecclestone has agreed to the asking price, Jones, along with listing agents Rick Hilton and Jeff Hyland of Hilton & Hyland could possibly make a combined $9 million in commissions, according to

Published on Wednesday, June 15th 2011, 9:58 AM

By Gina Pace


[source of below]

Bernie Ecclestone's grip on F1 may be loosened by bribery allegations

Formula One's great survivor appears unworried after being named in German court papers, but he ought to be

Bernie Ecclestone bribe
Bernie Ecclestone is expected to attend the German Grand Prix and the Nürburgring, despite allegations he paid a bribe to a German banker. Photograph: Mark Thompson/Getty Images

Bernie Ecclestone's bruising approach to business has always belied his inches, and his willingness to take on any adversary, whatever their size, has made him enemies over the years. But few could have predicted it would be a consensual deal in which he cashed in his remaining stake in Formula One that would ultimately land him in hot water.

Yet, after being named in German court papers as the alleged payer of a $44m (£27m) bribe to Gerhard Gribkowsky, a former senior executive of the German bank BayernLB, Ecclestone is in the tightest spot of his long and lucrative career. The allegations, which further claim that in return Ecclestone received $41.4m in commissions along with his family trust taking $25m, relate to the 2005 deal under which CVC Capital Partners, a private-equity firm, took control of Formula One.

BayernLB was a reluctant investor in the sport, having acquired the 48% stake as the chief creditor to Kirch following the collapse of the German media giant in 2002. When CVC offered to buy the stake in a $1.7bn deal three years later it seemed to suit all parties: CVC was taking over a business that generated enormous amounts of cash, BayernLB could return to being a lender, not an investor, and Ecclestone could dispose of the remaining 25% of Formula One that he still owned.

In the eyes of many the deal changed little since Ecclestone remained the chief executive of Formula One Management, the sport's operating company, which effectively runs Formula One, and CVC's principal negotiator with the teams.

Spool forward six years and Gribkowsky has spent the past seven months under detention in Germany. He stands accused of receiving the $44m bribe from Ecclestone, who remains chief executive of Formula One Management, to sweeten the deal. "According to the result of this investigation, this is bribery money," said Barbara Stockinger, the spokeswoman for the Munich prosecutors who have brought the case, in a statement as charges were pressed against Gribkowsky on Tuesday. "These payments would not have been asked for were it not for the bribes to be paid to the accused. The Bayerische Landesbank [BayernLB] incurred damages of almost $66.4m through the conduct of the accused."

Ecclestone, Stockinger told the Guardian on Wednesday, "is still under investigation". Even so, few in the sport expect the 80-year-old, whom the Guardian could not contact on Wednesday but who denies wrongdoing, to be arrested in connection with the case.

As a measure of Ecclestone's concern, he is indeed expected to attend the German Grand Prix at the Nürburgring this weekend. "Of course, why should I not go? Why would you arrest me? There's no reason," he said on Tuesday.

But the developments surely make even the indomitable former second-hand-car dealer uncomfortable. If Ecclestone is, at a reasonable minimum, called as a witness in the case against Gribkowsky there will be difficult questions to answer. Neither of CVC's Nick Clarry and Tim Gallico, who are both directors of the group companies that administrate Formula One, returned the Guardian's calls on Wednesday.

Meanwhile, there are numerous unknowns, among them whether CVC believes its investment to have been worth all the hassle of the past six years. For this is not the first controversy it has faced. In 2008, amid concerns about the level of debt that had been loaded on to the sport during CVC's highly leveraged buyout, the teams warned they would set up their own breakaway series.

It was an existential threat to the business of Formula One, which led to the birth of the Formula One Teams Association, giving the constructors for the first time a credibly united front against Ecclestone and the sport's operators. Ultimately the hatchet was buried in the shape of the 2009 Concord Agreement.

It is believed this deal, which runs until the end of the 2012 Formula One season, stipulates that the teams may not take steps to or even discuss setting up a rival championship during the term of the Agreement. But the added security came at a heavy cost to CVC. Where previously the teams had been forced to make do with sharing only 47% of the sport's television income, now they could feast on 50% of all the sport's cash profits from every area of its operations – advertising revenues, merchandising and licensing, as well as broadcasting. The added benefit of being able to place nonexecutive directors on the CVC board and of receiving full disclosure over the sport's finances appeased the teams.

"All the major challenges the teams faced have been met," a leading analyst in Formula One said. "To improve their position today would be quite difficult. The teams have got what they wanted."

The result of the hard bargaining by the teams made CVC's investment far less lucrative than at the time of the 2005 purchase. Although by raising revenues from races and cutting costs CVC has made Formula One more efficient, the amount of cash they could have potentially taken out has fallen sharply.

In 2007 payments to teams amounted to $342m but rose under the 2008 Concord Agreement to $521m. In 2009 these had risen again to $544m – in 2010 CVC chose not to disclose the amount.

In the meantime, the net debt of CVC's Formula One investment vehicle has risen far in excess of $5bn, although that does not represent financial distress since most of it is parent-company loans, and CVC can afford that. But as the teams head back to the negotiating table over the 2012 Concord Agreement many are sensing a potential weakness in CVC, whose fortunes have been so tied to those of Ecclestone. Seldom has the octogenarian corporate warrior been so on the back foot.

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The ATF "Fast and Furious" program is illegal. It was about getting guns to Mexican drug gangs in Mexico to attack the 2nd Amendment. Barack Obama, the ATF, TSA, Homeland Security, it is all about police informants, gun grabbing, making you a slave, and killing you, beating you up, and/or railroading you to prison if you complain, more:

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Exploring America's Ghost Town -- Gary, Indiana

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Uploaded by on Jul 29, 2011

RT's Anastasia Churkina travels to Gary, Indiana -- America's ghost town, one of the most dangerous places in the country that used to boom with industry and is now an urban desert.




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