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Corruption in Our Nation, Our Government, Our Money System & Economy, the Media, the “Educational” System, the “Health” Industry & Big Pharma, Our National Character & Morals . . .

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The EZER investment marks UGC’s first investment outside the United States.

In Israel AIG provides home, property and car insurance, travel insurance, and executive liability insurance. Importantly, it also acts as a reinsurer, providing coverage for the insurance companies themselves, mainly in the area of liability insurance.

If the parent company AIG deteriorates to such a degree that it fails to honor its reinsurance agreements, the entire world insurance sector - and Israel - will be hard hit, resulting in a wave of rising premiums.

At present, market sources say the chance that AIG will sink to defaulting on its contractual obligations is small. Israel’s institutional investors have invested little money abroad, in part because of their provincialism, in part because of the shekel’s strong appreciation this year against the dollar. Right now, the fact that most pension money is invested right here in Israel played in favor of the Israeli saver.

It is true that if the financial crisis worsens even more and the global economy slips into recession, the Israeli economy is likely to hurt, and the saver too. It’s already happening to a degree: Growth forecasts for this year and 2009 are being lowered. {Translation: The U.S. taxpayer will have to cough up more bailouts.}

AIG now intends to expand its investment in Israel (as it drags America through the tubes) through the new Shamrock fund. Shamrock, which is managed by president and CEO Stanley Gold, began investing in Israel 20 years ago and is considered one of Israel’s leading foreign investors.

BEN BERNANKE’S MENTOR, STANLEY FISCHER, IS THE CURRENT GOVERNOR OF THE BANK OF ISRAEL.

On Left, Fischer shaking hands with Olmert, failed Israeli Prime Minister

Fischer was plucked from Citigroup—another Bernanke bailout beneficiary*—to come to Israel.  Among other things, he’s managed to help the Israeli shekel gain ground against the dollar and the Euro.

To finance the first two Citigroup bailouts of $25 billion and $20 billion in November, Bernanke pledged about $1,000 from each American to guarantee the bank's assets.

Fischer was Federal Reserve Chairman Ben Bernanke’s thesis advisor. Bernanke wrote about the Great Depression as a graduate student at M.I.T.

Fischer is a member of the Council on Foreign Relations—and Fischer is also a Bilderberg member.

Since Stanley Fischer, the former International Monetary Fund deputy director, became the Bank of Israel governor in May 2005, the shekel strengthened 12 percent against the dollar and the Swiss franc, 13 percent versus the euro, 3.1 percent against the yen and 41 percent compared with the British pound.

The decision on who will take over for Geithner is for the Board of Governors of the Federal Reserve to make. The board is chaired by Stephen Friedman, retired chairman of The Goldman Sachs Group and is currently the head of Stone Point Capital, LLC.

The New York Fed is the most important of the 12 regional Fed banks. The institution serves as the U.S. central bank’s most direct link to Wall Street as well as its chief crisis manager.

Apart from Friedman, Geithner and Fed Chairman Ben Bernanke will likely have the most say in who is selected, Friedman, who according to the Jerusalem Post has also been shortlisted to run the FED, also served as director of the National Economic Council under President George Bush’s administration.

Israel Central Bank Profits on Dollar by Tzvi Ben Gedalyahu, Oct. 22, 2008

No Israeli Bank in Danger of Collapse, 28 Elul 5768, 28 September 08 by Hillel Fendel (IsraelNN.com)

A former Chief Economist of the World Bank, Fischer . . . became Governor of the Bank of Israel over three years ago. As required for the post, he became an Israeli citizen under the Law of Return, which grants Jews automatic citizenship - though he retained his American citizenship. Regarding the proposed U.S. $700 billion bailout plan for the American economy, Fischer had positive things to say . . . {You don’t say! rpf}

A decision by Fischer several months ago to purchase first $25 million a day, then $100 million a day, has been credited with stopping the dollar’s downward climb compared with the Israeli shekel. Fischer said he has no intention to continue this policy after Israel’s dollar reserves hit $40 billion - which could be very soon. “A Central Bank never says never, however,” he added.

Bernanke is a genius–and so was Meyer Lansky!      - >