This writer absolutely has to disagree with Beck’s assessment that the ‘perfect storm’ has just come ashore. Rather, IMHO, we are currently sitting in the still air of the eye of a Category 10 Financial Hurricane with the more dangerous backside about to hit us. And yes, the Federal Reserve is still protecting the banks to the detriment of producers. Please keep that perspective in mind as you watch Beck today.
(Subsequent segments will be added as they become available.)
It is utterly evident to many of us that the global elites’ endgame is in process right now. It was absolutely necessary to break the economic and innovative prowess of America. The systematic destruction of manufacturing jobs and infrastructure, the rise of a consumer driven financial industry as a job producer, the funneling of American wealth to everybody around the world even though our debt precludes us giving trillions away in aid and ‘nation building’, and now a totally corrupted federal government (all three branches) that has been bought and paid for by Big Industry lobbyists, (pick one; Agra, Pharma, Oil, etc., or better yet, google S. 510 + Monsanto, or this link). The only thing standing between the elite’s divvying up of the world into fiefdoms with the required decimation of useless population is us; the American People.
The Economic Collapse has it right on the money until the very last sentence:
Unfortunately, unless something really dramatic happens, the rich are just going to continue to get richer and the poor are just going to continue to get poorer.
The poor aren’t going to get poorer; they are going to get dead (by the billions).
Today global wealth is more highly concentrated in the hands of the elite than it ever has been at any other point in modern history. Once upon a time, the vast majority of the people in the world knew how to grow their own food, raise their own animals and take care of themselves. There weren’t many that were fabulously wealthy, but there was a quiet dignity in having land you could call your own or in having a skill that you could turn into a business. Sadly, over the past several decades an increasingly growing percentage of agricultural land has been gobbled up by big corporations and by corrupt governments. Hundreds of millions of people have been pushed off their land and into highly concentrated urban areas. Meanwhile, it has become increasingly difficult to start a business of your own as monolithic global corporations have come to dominate nearly every sector of the world economy. So more people than ever around the world are forced to work for “the system” just to make a living. At the same time, those at the very top of the food chain (the elite) have spent decades rigging the system to ensure that increasing amounts of wealth will continue to flow into their pockets. So now in 2010 we have a global system where a few elitists at the top are insanely wealthy while about half the people living on earth are wretchedly poor.
There are very few nations around the world that have not been almost entirely plundered by the global elite. When the elite speak of “investing” in poor countries, what they really mean is taking control of the land, water, oil and other natural resources. In dozens of nations around the world today, big global corporations are stripping fabulous amounts of wealth out of the ground even as the vast majority of the citizens of those nations continue to live in abject poverty. Meanwhile, the top politicians in those nations are given huge bribes to go along with the plundering.
So what we have in 2010 is a world that is dominated by a very small handful of ultra-wealthy elitists that own an almost unbelievable amount of real assets, a larger group of “middle managers” that run the system for the global elite (and are rewarded very handsomely for doing so), hundreds of millions of people who actually do the work required by the system, and several billion “useless eaters” that the global elite don’t really need and that they don’t really have much use for.
The system was not ever designed to lift up the poor. Nor was it ever designed to promote “free enterprise” and “competition”. Rather, the elite intend to funnel all wealth to themselves and to have the rest of us enslaved either to debt or to poverty.
The following are 20 statistics that prove that the wealth of the world is increasingly being funneled into the hands of the global elite, leaving most of the rest of the world wretchedly poor and miserable….
#1 According to the UN Conference on Trade and Development, the number of “least developed countries” has doubled over the past 40 years.
#2 “Least developed countries” spent 9 billion dollars on food imports in 2002. By 2008, that number had risen to 23 billion dollars.
#3 Average income per person in the poorest countries on the continent of Africa has fallen by one-fourth over the past twenty years.
#4 Bill Gates has a net worth of somewhere in the neighborhood of 50 billion dollars. That means that there are approximately 140 different nations that have a yearly GDP which is smaller than the amount of money Bill Gates has.
#5 A study by the World Institute for Development Economics Research discovered that the bottom half of the world population owns approximately 1 percent of all global wealth.
#6 Approximately 1 billion people throughout the world go to bed hungry each night.
#7 The wealthiest 2 percent own more than half of all global household assets.
I had the privilege of being gifted Eric Janszen’s, ‘The Postcatastrophe Economy’ featured below which outlines the private and public debt components of the FIRE (Finance, Insurance, Real Estate) economy that has collapsed and crippled this country. Yes, Obama and his team are working to re-inflate the very industries that are strangling the ‘productive economy’ and average Americans. (No Surprise There).
I have not yet finished the book, but I urge my readers to either purchase it or hit your local library as it is a must read which outlines the steps Americans need to take to establish a ‘new American industrial economy’ that does NOT have FIRE as it’s cornerstone. There appears to be dovetailing into Catherine Austin Fitts’, ‘The Looting Of America’.
An excerpt (Page 9):
In the end, the problems that this book described all come down to the result of thirty years of influence peddling and the capture of our government by special interests, especially by the finance, insurance, and real estate industries. Sales of their main products result in debt that produces a steady stream of revenue from interest payments and fees for themselves but saps the income of every productive business and hardworking wage earner, hospital patient, and student in the United States. An economy dominated by FIRE collapsed, nearly taking the productive economy with it. Yet the seeds of our economic recovery survive, and it is these that we must nurture to grow our economy back. Finance will return as well — to a constructive role in support of the productive economy rather than as the dominant generator of jobs and money in the economy.
One of my favorite lines:
The entire economic system has been glued together by one profound fantasy: Finance can substitute for production, and credit for savings.
This is more than a domino effect in Europe. This is a global economic crisis, and nothing has changed since the crisis began in 2007, other than the central banks dumping trillions of dollars in trying to save a failed system.
Here is the latest lecture given by Catherine Austin Fitts on 11.12.2010 to a Future Salon gathering in California. I so wish Beck would have Catherine on his show for an entire hour. She nails the problem every time. Once again, here is the link for the ‘Looting Of America’.
From Future Salon:
The global financial system is being used to engineer a revolutionary centralization of governance on planet Earth. In the process, trillions of capital has been shifted out of Europe and North America, much of it by illegal means. Many of us do not share a vision of non-accountable, centralized currencies and debt systems. Let’s reject the financial coup d’etat underway by taking steps to protect our families, businesses and communities and do so in a way that shifts our assets to a more productive, transparent, decentralized vision supportive of free people and healthy ecology.
Future Salon: Our Financial System: Facing Hard Facts, Creating Positive Futures
For two years, (and for some of us, even longer), we have been educating our families and neighbors about the Federal Reserve devaluing our money and draining our wealth. We were the first responders when Paulson ran to Capitol Hill and scared the bejesus out of a group of people that are much less intelligent than most of us (they just want you to think you are stupid). We said “HELL NO” to TARP, Bank Bailouts, Car Company Bailouts, Stimulus 1, 2, 3, etc., Union Bailouts, Obamacare, FinReg, and monetization of the federal debt. We knew the housing bubble that Congress and The Fed created was collapsing, and that the market was trying to find its ‘real’ baseline. We knew many people were going to take it on the chin, but we also knew we would then be on stable ground to start the rebuild.
Then Bush 43 caved to the Wall Street/Federal Reserve boys. That whole running up to Capitol Hill is such a show for the corporate-owned moos; the banks tell the politicians what to do. As soon as Bush ‘put aside the free market in order to save it’, we knew we were screwed six ways from Sunday. The banks were going to be protected and coddled, and us little people were going to be left swinging in agony (for years) as all that bad paper sat on their balance sheets clogging up the gears of the economy. We did not actually believe Paulson’s story about the $700 Billion going to buy bad assets, and we were right.
The good news? Ben Bernanke has lied to the American people by stating in July, 2009 that the Federal Reserve would NOT monetize the debt which they just did again the day after the election, in what appears to be a last ditch, ‘Hail Mary’ maneuver to save their asses. There is almost nothing we can do because:
The members of the Fed’s Board of Governors also cannot be impeached by Congress, which is especially twisted, since the President of the United States can be impeached for “high crimes and misdemeanors”. [The Legality of the Federal Reserve System, 8].
So dire is the situation that Sarah Palin has decided to wade into the thick of it, not realizing exactly how much a parasitic and vampiric Federal Reserve has completely drained America and is now trying to resuscitate the host/corpse. Fortunately for us, her level of media coverage is going to push the entire subject of the private banking cartel, mortgage fraud, and the hidden tax of inflation into the light. Thank You Sarah!
I would still like to know where that unaccounted $9 Trillion went. And by show of hands, how many of you would like to know if Congress is actually going to try to confiscate 401(k)s (some $8 Trillion) during the lame duck session?
Back to Sarah, and then on to Bill Black, the encyclopedia on the economic collapse.
Here are snippets from Palin’s prepared remarks obtained by National Review Online:
I’m deeply concerned about the Federal Reserve’s plans to buy up anywhere from $600 billion to as much as $1 trillion of government securities. The technical term for it is “quantitative easing.” It means our government is pumping money into the banking system by buying up treasury bonds. And where, you may ask, are we getting the money to pay for all this? We’re printing it out of thin air.
The Fed hopes doing this may buy us a little temporary economic growth by supplying banks with extra cash which they could then lend out to businesses. But it’s far from certain this will even work. After all, the problem isn’t that banks don’t have enough cash on hand – it’s that they don’t want to lend it out, because they don’t trust the current economic climate.
And if it doesn’t work, what do we do then? Print even more money? What’s the end game here? Where will all this money printing on an unprecedented scale take us? Do we have any guarantees that QE2 won’t be followed by QE3, 4, and 5, until eventually – inevitably – no one will want to buy our debt anymore? What happens if the Fed becomes not just the buyer of last resort, but the buyer of only resort?
Bill Black on the continuing mortgage fraud that still exists. For more information from Bill Black about the entire fiasco, check out this post ‘Sociopaths In Charge Of Banks And Government‘ from 4.7.2010.
Here is the history lesson for those that still believe that the Federal Reserve IS NOT a private banking cartel, that it is a government agency, and exists for our best interest.
The Fed, by it’s own admission, is an independent entity within the government “having both public purposes, and private aspects”. By “private aspects”, they mean the entire operation is wholly-owned by private member banks, who are paid dividends of 6% each year on their stock. Furthermore, the Fed’s decisions “do not have to be ratified by the President or anyone else in the executive or legislative branch of government” and the Fed “does not receive funding appropriated by Congress”. In 1982, the Ninth Circuit Court of Appeals confirmed this view when it held that “federal reserve banks are not federal instrumentalities… but are independent, privately owned and locally controlled corporations“. [The Legality of the Federal Reserve System, 5]. Yet, the Fed has exclusive control over the government’s ability to create money and regulate its value through the targeting of interest rates and open market operations (when the Fed buys an asset, it typically prints the purchase money out of thin air). How Congress can delegate its Constitutional powers to this independent, privately owned and unaccountable institution is beyond me.
Still, the Constitutional issue is just the tip of the iceberg when it comes to this twisted institution’s embodiment of all things undemocratic. When Congress (and the people it represents) makes a valid delegation of its powers to an executive agency, it almost always retains a level of control through its powers of appropriations, impeachment and oversight. For some not-so-strange reason, the Fed isn’t appropriated any funds by Congress, and so it cannot be financially “starved” like any other agency. The members of the Fed’s Board of Governors also cannot be impeached by Congress, which is especially twisted, since the President of the United States can be impeached for “high crimes and misdemeanors”. [The Legality of the Federal Reserve System, 8]. What about oversight? Well, a Congressional committee holds “hearings” every once in awhile to ask the Chairman a few irrelevant questions, but if this process is what passes for “oversight”, then we have truly gone off the deep end.
Speaking of committees and oversight, when Fed Chairman Ben Bernanke testified under oath to Congress in July, he said in no uncertain words, “the Federal Reserve will not monetize the [federal] debt”. . Fast forward to the day after mid-term elections, in which the American people clearly voted for LESS spending/printing, and the Fed announces its plan to monetize $900 billion in treasury bonds. . The Chairman has proven his previous testimony before Congress to be a blatant lie, but instead of condemning the Fed’s recent actions, the federal government has welcomed it with open arms. That’s quite some oversight we have there. Perhaps the best way to oversee the Fed’s actions would be to actually figure out what in Lloyd Blankfein’s name it’s been doing.
In this country, that’s easier said than done. The Government Accountability Office is not allowed to audit the Fed’s transactions for or with foreign governments, central banks, nonprivate international organizations or those made under the direction of the Federal Open Market Committee (“FOMC”). It just so happens that these are the types of transactions which are most influential on global and domestic financial markets, especially the open market operations. These operations are conducted by the FOMC, who is comprised of the Board of Governors (7 members appointed by President and confirmed by Senate) and five representatives from the regional Fed Banks. Although the President appoints the Board of Governors, he must choose from a list of candidates provided by private institutions, and the other five representatives are also typically nominated by private member banks. Talk about an organization with conflicts of interest, lack of transparency and lack of accountability all tightly woven into its very fabric!
In the last two years, the almighty Fed has printed trillions of dollars in our name to buy worthless mortgage assets from “too big to fail” banks. It has lent these banks our hard-earned money at about 0% interest, so they could lend our own money back to us at 3%+. These banks also used our free money to ramp equity and commodity markets, which mostly benefited the top 1% of our population who owns 43% of financial wealth , and conveniently, also owns the Fed. The latter has kept interest rates at next to nothing to punish savers and encourage speculation, making everything less affordable for average Americans who have seen their wages stay the same, decrease or disappear. What’s left standing is the perniciously powerful, highly secretive and entirely unaccountable Fed, who now epitomizes the state of American democracy.
We have all become subject to the misguided and/or malicious whims of a few wealthy individuals operating the levers of economic policy, with no adequate means of challenging their power. Our most treasured contribution to political society has been reduced to a bunch of meaningless articles and amendments, containing equally meaningless words. We the people, in our pursuit of “a more perfect union”, have fallen into an age-old trap. Our economic policies, currency and laws are all manufactured by our very own private dictator, who amasses a fortune from our collective exploitation and destruction. Then, this despot continues to operate like nothing ever happened. We can scream “ABOLISH THE FED” all day, non-stop to every single politician at the top of our lungs, but it will never happen. The reality is that there is only one way back to a true democratic system now, and this path will require nothing less of us than the courage of our forefathers.
Jesse Ventura’s ‘Conspiracy Theory’ takes on the theory that international bankers are draining American of all it’s wealth. This may sound completely farfetched until you listen to Catherine Austin Fitts on ‘The Looting Of America’. The truth about the financial pillaging by the ‘pirate class’ is finally getting out about the trillions that have been sucked out of our economy and our pockets. The banksters own the government; get used to the realization.
Keep this in mind; how many bankers have been arrested, prosecuted and convicted of the mortgage fraud scandal that caused the meltdown in the housing industry and near economic collapse of America? Why isn’t Bernanke being impeached for stating under oath in June 2009 that the Federal Reserve would not monetize the debt, and they just did it again? I know you folks can do the math.
The 15 day progression of consequences of too much American debt according to Damon Vickers of Nine Points Capital.
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.
From the Economic Collapse:
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.
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