Y’all know how much I believe Ben Bernanke to be ‘The Traitor Of The Year’ when it comes to bureaucrats (elected and UNELECTED), and how much I want him perp-walking in handcuffs straight to jail because of the bubbles and devaluation that he has overseen. (Even more than the excuse for an American that sits in the Oval.) How can 11 UNELECTED pirates decide arbitrarily how our economy is going to perform? That’s what you have in The Federal Reserve System.
The Financial Times is reporting that the backlash against the newest round of quantitative easing being put forward by the Pirates at the Fed is sparking a currency war as other countries try to protect the value of their money. I am not sure whether you have read this article from Karl Denninger over at Market Ticker, but I am reprinting it in its entirety because you need to read it and you need to check his site daily for updates on what the Bankster Pirates are planning next. Ben Bernanke absolutely, positively needs to be stopped from acquiring any more wealth for the pirates. Time to call your representatives and sheriffs.
Now that the banks are once again running out of money Ben Bernanke is at it again. He has announced another $600 billion in illegal taxation on America, and intends to give it again to the bankers. A good part of it already showed up in oil and other commodities. The rest of it will. It is guaranteed. The “benefit” will go overseas. The tax will fall on you. – Karl Denninger, Market Ticker
The banksters asset-stripped the public. Twice. The first time in the 1990s with the Internet bubble, the second time in houses. If you bought a home from 2003 onward you got screwed. It doesn’t matter if you were a good borrower or not – you overpaid. American business was also asset-stripped. We covered this by shipping our labor off to China, India and Vietnam.
During the last part of the 2000 decade, the Federal Reserve, Bank Regulators, Government and the Banks themselves were all in on it. We know this. We know it because Citibank’s former Chief Underwriter has testified to it under oath. It is not speculation or mathematics, it is admitted fact.This was an intentional, malicious act that involved government and finance. Your “representatives” didn’t represent you, they represented the banks. They acted as guards not of your wealth, but instead they held you at gunpoint while the bank robbed you. This is the proximate cause of the market and economic collapse – your productive wealth was literally stolen through these frauds.
Now they’re at it again. First, Ben Bernanke imposed, without a vote, a tax on the American People of over $1 trillion through his original “QE ” game. This went immediately into commodity and stock prices worldwide but was in fact a tax on you, and on every productive business. This is the reason that unemployment remains at close to 10%. By now we should be well on our way to recovery. The government blew $600 billion on stimulus programs.They got nothing for it because of QE, which took it all back out, plus more through the tax – a tax that went directly into the bankers pockets.This unlawfully-imposed tax was used to cover the banks’ insolvencies, along with the blatant extortion practiced by Rep. Kanjorski on FASB (who, incidentally, lost his seat Tuesday.) But the banks did not clear their balance sheets – they are, in fact, still insolvent. Instead, they literally took the money and paid it in bonuses.
Now that the banks are once again running out of money Ben Bernanke is at it again. He has announced another $600 billion in illegal taxation on America, and intends to give it again to the bankers. A good part of it already showed up in oil and other commodities. The rest of it will. It is guaranteed. The “benefit” will go overseas. The tax will fall on you.
THIS IS THE LARGEST TAX EVER IMPOSED ON THE AMERICAN PEOPLE IN THE HISTORY OF THE NATION. IT IS MORE THAN FOURTEEN TIMES THE BUSH TAX CUTS “ON THE RICH” THAT EVERYONE IS DEBATING. GOLDMAN SACHS BELIEVES THAT BERNANKE WILL IMPOSE A TOTAL TAX THROUGH QUANTITATIVE EASING OF MORE THAN FOUR TRILLION DOLLARS OVER THE NEXT TWO YEARS, OR MORE THAN FIFTY SEVEN TIMES THE BUSH TAX CUTS.
If you, America, do not rise and stop this NOW you’re all going to be effectively dead economically.
Your assets will be stripped.
All of them.
Your savings – as if having the earnings you can receive on a safe CD cut from 5% to 0.5% isn’t bad enough.
And, when the inevitable margin collapse comes in the corporate sector, your stock portfolio will detonate again and your pension funds, Medicare, Medicaid and Social Security will be gone.
Either you rise and stop Bernanke and The Fed, or he – and they – win – and we all lose.
There is no “individual path” that will keep your assets safe from this. There is no means to hide, so long as you’re an American citizen and live in this nation.
We have two choices: we collectively stop this madness or we all get destroyed.
Those are the only choices.
For three years and change I have warned of this outcome. I have pointed out that there is three trillion dollars or more of losses that have to be taken in the economy.
Those losses should fall on the banksters who committed these acts. Doing so will cause these banks to be taken into receivership. They will have to be resolved.
Virtually none of those losses attributed to them have been taken by these institutions.
These losses have all fallen on you, through unemployment, through higher energy prices and higher prices at the grocery store. All of these are taxes that are being illegally imposed on you by a Central Banker who lacks the legal authority to impose a tax.
Yet he’s doing it, and you’re being told to cheer because the DOW is up 200 points.
I want to note that in 2007 I wrote a similar Ticker urging people to stop this bastard when he started interfering like this. You did nothing, because the S&P was headed to 1576 and the DOW over 14,000 on the back of his original “rate cuts” and other machinations. I was called all sorts of names, the kindest of which were “kook.” You sat on your hands instead of rising to stop this crap and were repaid by watching your portfolio get cut by 60% in the next two years, two major banks blowing up in an uncontrolled fashion, and threats of tanks in the streets.
If you do not stop him – remove him from office – NOW – you will be destroyed.
That is a certainty.
We no longer have the “margin” to absorb another mistake like the last one. And the crap that Bernanke is pulling now is the mother and father of all mistakes.
It’s your choice America – but where this road leads is not open to debate. These institutions that robbed you can only survive the consequences of their acts by destroying you, and they are hellbent and determined to do exactly that, with Ben Bernanke as the man who is literally destroying not only your economic present, but the future as well for yourself and your children.
Glenn starts this program with the general news of the very expensive trip that Obama is taking to India and Indonesia, and breaks it down further along in the program. His first topic is all about the Fed’s QE2, how it is devaluing the dollar, causing commodity prices to skyrocket and how all of our food is going to become more expensive. Here is a news flash Glenn; I covered this on October 20th with the article Obama And The Federal Reserve’s Hidden Taxes with the proof of $14 coffee here in Hawaii. Market Ticker’s Karl Denninger has been writing about this for months.
The General Assembly elected Colombia, Germany, India, Portugal and South Africa to serve as non-permanent members of the Security Council for two-year terms starting on 1 January 2011. The newly elected countries will replace Austria, Japan, Mexico, Turkey and Uganda.
My spidey-sense tells me that Obama does not plan to run for a second term if he can move up to ‘King of The World’. Considering what the global elite banksters are doing to our dollar, and the push for a global currency, why wouldn’t Obama go for the next brass ring as the ultimate citizen of the world? Think Mishy is going to sit still as First Lady when she can be Empress? Think about the Narcissist-in-Chief’s general demeanor; who else would look at the Presidency of the United States as a stepping stone to something else?
The last topic covers the losses that George Soros suffered during the election a few days ago. I want to point out that the reason the California Pot Legalization proposition was defeated was because only a certain number of licenses to grow were going to be issued and guess who they were going to? Yes, you guessed it, Big Agra. The locals mobilized to stop this prop and Big Ag from taking over what will be an incredible revenue stream.
As many of my readers know, I absolutely detest the Federal Reserve and hold them responsible for almost every single intended and unintended consequence that has happened to our country since their slippery inception in 1913. They created the credit card that the District of Criminals uses to enslave us with debt, and they have devalued our currency by 96%. The Fed is on track to devalue it even more with an unprecedented and risky QE2 of $600 Billion (and) more dollars. Welcome to the next bubble, the dollar.
Glenn covers the show going on ‘backstage’ of the election coverage; the Fed’s decision to come out with more quantitative easing the day after a historic election, and what such a risky and unprecedented maneuver could cause – another Wiemar. I urge all the flybys who still don’t know anything about the bankster mafia to check out the video about the Federal Reserve that follows the Beck program, to watch the ‘Looting of America‘, and hit The Fed page. Time to get up to speed. Without the Fed and their need for billions of dollars of Americans’ wealth in the form of interest, there no longer is a need for their extortion arm, the IRS.
Here we are, the day after an election day, and the people have spoken. They are upset about the direction this country is heading, with the economy and jobs being the primary concern. Dumping a handful of Congress-critters out of office might feel good, but it isn’t going to do much to change things. Even if the American people could somehow vote out every single member of Congress, it would still not do much to fundamentally change our economic situation because Congress does not run the economy, and neither does the president.
With just hours to go before the Fed reports on how much quantitative easing they are going to dump into the economy, I ran across this story. The audacity continues, and we all know the corrupt banksters (who are not being prosecuted) are laughing their asses off at us, the dumb, cash cow moos that made it all possible.
The Federal Reserve is going back to Jekyll Island to celebrate the 100 year anniversary of the infamous 1910 Jekyll Island meeting that spawned the draft legislation that would ultimately create the U.S. Federal Reserve. The title of this conference is “A Return to Jekyll Island: The Origins, History, and Future of the Federal Reserve”, and it will be held on November 5th and 6th in the exact same building where the original 1910 meeting occurred. In November 1910, the original gathering at Jekyll Island included U.S. Senator Nelson W. Aldrich, Assistant Secretary of the Treasury Department A.P. Andrews and many representatives from the upper crust of the U.S. banking establishment. That meeting was held in an environment of absolute and total secrecy. 100 years later, Federal Reserve bureaucrats will return to Jekyll Island once again to “celebrate” the history and the future of the Federal Reserve.
For G. Edward Griffin’s lecture on the creation of ‘The Federal Reserve Banking Mafia’, go here. For those that still think that the Fed is a government agency and that the private banking cartel mem is a myth; open your eyes, we are on track to pay them $1 Trillion dollars in interest next year.
Mr. Trump saw the episode on ’60 Minutes’ last evening, and was embarrassed for our country. The fact that they have allowed other countries to basically steal our jobs and to create issues in Newton, Iowa. -Michael Cohen, Exec. VP and Special Consultant to Donald Trump
This past Sunday evening, ’60 Minutes’ covered the story of Newton, Iowa, Maytag’s move to Mexico, the rapidly shrinking economy in this beautiful little town, and the effect it is having on the residents.
At one point, Scott Pelley is doing a mini-townhall with a group of Newtonites who speak about nothing getting done in Washington and the Iowa State House because everybody is fighting over ‘social issues’ and not working on what is important; the economy and jobs. I have said over and over again that ‘social issues’ like abortion and gay marriage absolutely, positively have to take a backseat until we get our fiscal house in order, OR we won’t have the luxury of fighting about abortion while we are all starving. The asshats in the District of Criminals and globally want YOU FIGHTING over social issues and not paying attention to the purposeful destruction of wealth and jobs in America.
After you finish watching the sadness that follows, take the time to watch the Catherine Austin Fitts interview about the intentional ‘Looting of America’ which will explain how this happened to us and who is responsible.
This is it kids; this is the video from Catherine Austin Fitts that I have been waiting almost three weeks to bring you about the intentional draining of American wealth, shipment of jobs overseas, and the planned destruction of the middle class. I urge every single reader to watch the interview in it’s entirety because Ms. Fitts offers pieces of the puzzle that help explain why our world seems to be so upside-down in a manner that anyone can understand. Hopefully, it will help you realize the true danger of the Federal Reserve System, the big Wall Street Banks, and the people behind them. The Fed and the IRS absolutely have to be abolished. (more…)
Neil Barofsky isn’t making any friends over at Treasury right now, considering he is slamming their changing methodology (without telling the American public) that make the losses at AIG looks significantly less than what they were 6 months ago.
Is anybody surprised? No; didn’t think so. I know I will have died and gone to heaven when the Federal Reserve no longer exists and the big wall street banks aren’t telling our government how it’s going to be anymore.
“In our view, this is a significant failure in their transparency,” said Neil M. Barofsky, the inspector general, in an interview on Monday.
In early October, the Treasury issued a report predicting that the taxpayers would ultimately lose just $5 billion on their investment in A.I.G., a remarkable outcome, since the insurance company was extended $182 billion in taxpayer money in the early months of its rescue. The prediction of a modest loss, widely reported as A.I.G., the Federal Reserve and the Treasury rushed to complete an exit plan, contrasted with an earlier prediction by the Treasury that the taxpayers would lose $45 billion.
And as an added bonus, Neil Cavuto covers the story of the Treasury looking for employees that know their way around the Freedom Of Information Act specifics. How’s that for transparency…? The Judge weighs in.
Ron Paul’s weekly radio address about the government’s destruction of wealth through Fed inflated bubbles, and war. (Full transcript follows).
As the current economic downturn shows no signs of lifting, we hear quite a lot of rhetoric from current and potential officeholders about what government can and will do to create more jobs. This is especially disconcerting to those that understand that the best thing government can do for job creation is to simply get out of the way. Jobs are properly created by businesses. Government created jobs are either fueled by fiat money and manipulated market conditions or directly funded by taxes paid for by businesses and individuals who then have less to hire people for real wealth creation. Government created jobs destroy wealth and sap potential from the economy. The several stimulus bills passed by Congress have done much to expand government, but not much to keep money in the hands of real job creators; the entrepreneurs. Keynesian economists don’t see things this way. They see government spending as a stop gap measure that tides us over through rough economic patches, but is this really the case? Far from it. The reality is, instead of sustaining us until the economy can catch up, government spending perpetuates the problems the bureaucrats and the politicians created. Maintaining a high level of employment is one of the main objectives of The Federal Reserve, which is just one reason it is ill conceived at its very core. It legitimizes economic intervention which is always destructive. When unemployment rises after the bust of a Fed created bubble, you can be sure Congress will attempt to rescue the economy through various policies that will always prolong the agony and expand the downturn.
In the late ’90’s, it was thought that encouraging home ownership would have a stimulative effect that would ripple through the rest of the economy and create jobs. Various government policies favorable to home ownership were enacted and the Fed kept interest rates artificially low so everyone would be able to buy a home whether or not they could really afford it. For awhile it worked. The housing boom increased demand for realtors, mortgage lenders, and construction workers. However, as reality sank in, not only are we back to where we were when the bubble began, but we are actually worse off. For example, not only have we lost all of the one million extra construction jobs the bubble created, but we have lost another one million jobs on top of that. So not only did the artificial wealth evaporate, but real wealth has been destroyed as well.
Even more sinister are jobs created by war. Recent reports highlight the increasing dependence on contractors to support our war efforts in Afghanistan. Massive corruption is endemic to these highly lucrative positions. Almost half of the contracting companies we use are Afghan owned and include such business models as recruiting away the very same Afghan police force we are training, at great expense to the American taxpayer. Meanwhile, we have pledged not to leave until the police forces reaches a certain level. We also bribe many Afghans to simply not attack us. We are in a proverbially hole in Afghanistan, and our leaders need to just stop digging. Neither a Keynesian big spending program nor the military-industrial complex can create long-lasting employment or economic prosperity for our country. The only way to restore both peace and prosperity is draw down our overseas commitments, along with un-Constitutional spending at home; return to the Founders’ vision of a limited republic that neither straddles the globe, nor mismanages the domestic economy.
Dr. Paul’s Texas Straight Talk is found here, and the number to call in for his updates on Monday morning is 888-322-1414.