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.
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.
Did you really think that the Federal Reserve’s magic printing presses were actually going to help us, the average American. What follows is an excellent explanation of what QE actually means; more big bank bailouts. Do you still have a bank account or credit card with one of these sharks?
The U.S. Federal Reserve is getting ready to conduct another gigantic bailout of the big banks, but this time virtually nobody in the mainstream media will use the term “bailout” and the American people are going to get a lot less upset about it. You see, one lesson that was learned during the last round of bank bailouts was that the American people really, really do not like it when the U.S. Congress votes to give money to the big banks. So this time, the financial “powers that be” have figured out a way around that. Instead of going through the massive headache of dealing with the U.S. Congress, the Federal Reserve is simply going to print money and give it directly to the banks. To be more precise, the Federal Reserve is going to use a procedure known as “quantitative easing” to print money out of thin air in order to purchase large quantities of “troubled assets” (such as mortgage-backed securities) from the biggest U.S. banks at well above market price. Some are already openly wondering if this next round of quantitative easing is going to be the biggest bank robbery in history. Most Americans won’t understand these “backdoor bailouts” well enough to get upset about them, but that doesn’t mean that they won’t be just as bad (or even worse) than the last round of bailouts. In the end, all of the inflation that this new round of quantitative easing is going to cause is going to be a “hidden tax” on all of us.
These new backdoor bailouts are going to work something like this….
1) The big U.S. banks have massive quantities of junk mortgage-backed securities that are worth little to nothing that they desperately want to get rid of.
2) They convince the Federal Reserve (which the big banks are part-owners of) to buy up these “toxic assets” at way above market price.
3) The Federal Reserve creates massive amounts of money out of thin air to buy up all of these troubled assets. The public is told that all of this “quantitative easing” is necessary to stimulate the U.S. economy.
4) The big banks are re-capitalized and have gotten massive amounts of bad mortgage securities off their hands, the Federal Reserve has found a way to pump hundreds of billions (if not trillions) of dollars into the economy, and most of the American people are none the wiser.
Make sure to go over and read the rest; then tell your family and friends about the latest way the big banks are going to get a hand up/hand out and how we are going to be left with the interest payment reaching $1 Trillion dollars next year.
Available Historical Data Fiscal Year End - in Billions (Source: US Treasury)
Very useful information on the price increases of gold and silver, and the myth of a gold bubble from National Inflation Association. I’ll give you one guess who is behind it…
September 20, 2010: Gold and Silver Are Sounding The Alarm
October 2, 2010: Gold and Silver Prices Signal the Destruction of the Dollar
October 8, 2010: Gold and Silver Correction Happening Now!
Yet another sleepless night with 25 days to go before we know exactly how big the tsunami that is about to wash over the democrats is, or whether or not it is going to make any difference at all to the current state of affairs.
How many of you can relate? Sleepless night after sleepless night worried about still not being able to find a job because you are too old and not one, but two, former industries have been completely collapsed by the progressives in Congress, the White House, and the Federal Reserve? Worried about becoming homeless with a child that already has PTSD and wondering how that is going to affect their ability to cope. Constantly worried about a family member becoming ill and not having any medical insurance. Constantly worried about how to pay the bills and put enough food on the table to keep the family mentally and physically coherent. Waiting and praying that there will actually be a collective sigh of relief when the Congress is flipped, and hoping that the Republicans don’t turn their ‘chance’ for redemption into one big cluster**** that drives us further into depression.
Is that resonating?
The GOP has put forward their ‘Pledge To America‘ that lacks creativity, bold reasoning, decisive measures, and for lack of a better word, vision. In their rush to sell themselves to moderates and indies, they have created a lukewarm beginning to the problems that face this country and have NOT embraced their ‘inner no’.
I have a better idea. Want to hear vision? My readers will let me know if I’m over the line on what I believe needs to be done. Time to think outside the box when it comes to hitting the escape key on this system and re-inventing America once again.
Vision For America
CUT SPENDING! Make earmarks illegal. If a program does not fit inside the guidelines of the Constitution, it becomes mincemeat. Considering the items that follow, there will be more than enough money for Americans to make sure those turtles have crossings, and whatever replaces the NEA (privately) will be able to make art happen.
Cut Spending – Abolish the private banking cartel known as the Federal Reserve System, cut up the credit card they provide to Congress, and stop paying interest on our money. That is the most heinously idiotic damn thing I have ever heard.
Break the unholy alliance between the six biggest banks in the country and the federal government. Shut down the revolving door between Goldman Sachs and their brethren and the Treasury Department.
Cut Spending – Abolish the IRS whose entire existence revolves around siphoning off Americans’ wealth in order for the progressives to redistribute our wealth to the rest of the world, and to make sure the Federal Reserve Mafia gets their interest. We would save $12.1 BILLION immediately, and give over 100,000 Americans a chance to make a living doing something they can take pride in.
Institute a fair or flat tax that is consumption based. This would bring trillions of dollars in investment money back from the Caymans and other offshore banking areas, and it would tax the underground economy.
Repeal Obamacare and replace it with a free market solution that TAKES EMPLOYERS out of medical insurance completely. How many of you feel like indentured servants having to take certain positions or stay at companies because they have you over a barrel with your benefits? How many healthy Americans are being penalized with higher premiums because other members of the group policy haven’t taken care of themselves and are using benefits like water? How many of us don’t even have benefits because we aren’t employed?
Repeal the Dodd/Frank financial reform FIASCO that gives even more control over Americans through banking institutions and their money, yet doesn’t address the biggest factor in the continuing housing collapse – GSEs Fannie and Freddie. Fannie Mae has returned to its subprime lending terms on foreclosures, while we are still shelling out billions to keep Fannie and Freddie afloat.
Remove the federal government as the guarantor of last resort for credit cards (bank bailouts), student loans, mortgages, etc. This IS NOT their job and never was. Is it in the Constitution? Nope! Shitcan it.
Pass a Constitutional Amendment making presidential czars and federal government agency mandates illegal. If the EPA wants to tell Americans that carbon dioxide is pollution, it has to be debated by elected officials. If Cass Sunstein wants to ‘nudge‘ America, he is going to have to receive permission from us.
Take Social Security, Medicare, and Medicaid away from Congress and the Treasury. The lockbox for these government entitlement programs was a flat out lie and has never existed. I am sure with minds like Steve Jobs, Steve Wynn, Donald Trump, and Hermain Cain, we can find a profitable, yet safe, retirement savings avenue for Americans to watch over their nest eggs.
Remove the United Nations from our country, literally and figuratively. Rescind treaties under the guise of the United Nations; STOP sending Americans’ wealth to them; kick the IMF and World Bank out. Deal with the fallout and then not only play by the rules, but write laws that protect America’s sovereignty. It may be a global village (according to the Fabian Socialists) but without a leader, it will become even more chaotic.
Pass a Constitutional Amendment that forbids a central bank system from being established in America ever again, and remove the Treasury Department’s involvement with the Bank of International Settlements.
Stop using the power of the Executive Branch to strong-arm the world into compliance with what the global elites feel is in their best interest. We don’t give a flying squirrel’s fluffy freakin’ tail what you want; you are wealthy enough already. You aren’t going to be allowed to become yet wealthier by using shady underhanded schemes; i.e. Iraq and Afghanistan. Thanks George and Dick.
Introduce and pass legislation that forbids think-tanks and NGOs from writing legislation; i.e. Apollo Alliance – Stimulus Bill or the Council on Foreign Relations.
Assign a Congressional task force to examine and recommend repeal of laws that have been passed in the last 150 years that are blatantly un-Constitutional, threaten liberty, privacy, and free enterprise.
Repeal the Patriot Act in it’s entirety.
STOP SPYING ON AMERICANS with cameras, illegal wiretapping, data mining protocols, etc. Tighten the supervision of America’s intelligence community, and require them to share the data they do acquire.
Remove American military bases from islamic countries. Stop providing the radical jihadists with another reason to attack America.
Introduce and pass legislation that forbids genetically modified organisms from being produced and require the multinational companies creating this organisms to clean up the pollution that they have introduced to the environment. Are you listening Monsanto?
Introduce and pass legislation that forbids Big Pharma from creating viruses, patenting them, and patenting the genetic code of Earth’s lifeforms.
Introduce and pass legislation that forbids ‘Too Big To Fail’.
Introduce and pass legislation that requires term limits.
Introduce and pass legislation that makes lobbying illegal.
Pass a Constitutional Amendment protecting Americans’ right to bear arms – in perpetuity.
Pass a Constitutional Amendment that requires nominees to the United States Supreme Court to actually have judicial bench time. Also require that the nominee in question not have been in the employ of the Executive or Legislative Branches, and show a history of interpreting law according to the Constitution and American Sovereignty.
Pass a Constitutional Amendment that emphatically states what a Natural Born Citizen is (born on American soil to two American citizens), and then require all candidates to comply with requirements proving they are natural born for the office they are seeking (if required).
Close the freakin’ border! Understand that Mexican citizens are ‘invading’ sovereign American soil and we will not tolerate it. Locate and deport all illegal aliens as their prize for disrespecting our country and breaking our laws.
How’s that for a rant session? Please feel free to add what you believe should be done to get our country back on the right track.
(Editor’s Note: Please keep in mind while you read this post, that the Federal Reserve Mafia was in consultation today regarding a trillion dollar policy of another round of quantitative easing, and gold jumped to a new record after the Fed’s statement about interest rates.)
Let’s talk about the Bush tax cuts and the choices that this administration, congress, and media are giving the unhappy moos across the country. Do you remember how the whole circus started a few weeks ago with Obama stating that he was going to allow the Bush tax cuts to expire, and the growing cyclone of debate that has ensued?
A current recap. Chairman Zero wants to keep the tax cuts in place for couples making less then $250k and individuals making less than $200k. Princess Pelosi believes that ‘they’ must extend the “Obama Middle Class Tax Cuts” for just the middle class, and 31 of her not-so-loyal soldiers have gone off the reservation when considering such a move. Just a few days ago, the Queen of the Swamp stated “But I see no justification for going into debt to a foreign country to underwrite and subsidize tax cuts for the wealthiest people in America.” Technically, Nancy has a point, BUT what about the $110 MILLION that went to create 55 California jobs…it’s okay to underwrite and subsidize corruption and all the rest of the silly spending these teenagers have approved? Also, according to National Review Online, a tax increase for the upper 2% of Americans would bring in a whopping $34 Billion next year; enough to cover 9 days of deficit spending. In addition, John Boehner had a ‘moment’ on a recent Sunday news show stating that he would vote for the partial tax extension if forced to, but has since backtracked. We also have had the media arguing very vocally for about two weeks about whether or not the super rich should be getting the tax extension like everybody else. Every single time you look at print or television, you hear about the Bush tax cuts expiring at the end of the year or see a countdown clock for the ‘greatest tax hike in history’ on television. Chairman Zero is even stating during speaking engagements that “giving” a tax cut extension to millionaires and above would create $700 Billion in more debt over ten years.
Let’s keep beating the ‘debt’ drum, shall we? We KNOW we are in trouble, but who exactly is responsible for the debt and the deficits?
Ready to bust out of the chute moos? Ready to understand on the most basic level why we have $13.4 TRILLION in national debt and $110.4 TRILLION in unfunded liabilities?
Question: What creates debt?
US Debt Clock - $13,482,988,177,434 (Trillion)
US Unfunded Liabilities - $110,487,734,169,769 (Trillion)
Answer: Credit.
What does a person or organization pay on money that has been borrowed from someone else?
Answer: Interest.
In the past when our government needed money, they took out loans from other governments to help them pay for wars, but there was a limit to the amounts they could borrow and spend.
Then along came The Federal Reserve Mafia System that created a National Credit Cardfor our wayward Congress. Would you like to see the INTEREST ON THE FEDERAL DEBT because of the linked banking cartel and congressional traitors who use the IRS as their mafia enforcers?
2010 by Month:
Interest By Month Fiscal Year 2010 - in Billions (Source: US Treasury)
What happens when the largest economies in the world stop using the dollar as an intermediary currency and start trading with a basket of currencies or with each other directly? Get ready; it appears to be approaching fast according to Bloomberg. If you thought September 2008 was a rough ride, you have not seen anything yet. Hey, has anybody called Obama on the links and asked him if he knows what The Federal Reserve Mafia is doing about this?
China and Russia plan to start trading in each other’s currencies as the world’s second-biggest energy consumer and the largest energy supplier seek to diminish the dollar’s role in global trade.
China may start trading its currency against the ruble within weeks, three bankers with knowledge of the matter told Bloomberg, and sent out a document last week allowing lenders to apply for ruble trading licenses, one of them said. Russia’s Micex Stock Exchange is making preparations to trade the ruble against the yuan in an initiative that has the backing of the country’s central bank, Ruben Aganbegyan, the head of the bourse, told reporters at a conference in Moscow today.
“Given the risk to the dollar and U.S. assets from their fiscal position they want to reduce their dependence on the dollar as an invoicing currency,” Bhanu Baweja, global head of emerging markets fixed income, currency and credit research at UBS AG, said in a phone interview from London. “It makes sense for two large economies to exclude a third, overly dominant economy from their trading equation.”
In the wake of the global financial crisis, which forced the U.S. economy into recession, both China and Russia have called for the dollar’s role in the financial system to be diluted. Volatility in major currencies is putting the global recovery at risk Zhang Ping, the head of China’s National Development and Reform Commission, said last month. President Dmitry Medvedev last year suggested Russia, holder of the world’s third-largest foreign-currency reserves, reduce its holdings of dollar.
“Gradually the dollar is being eliminated from the foreign-trade settlement flows,” said Dariusz Kowalczyk, a Hong-Kong based senior economist at Credit Agricole CIB. “People are beginning to trade Asian currencies without intermediation via the dollar.”
Bloomberg also has a video of how the Chinese Yuan is starting to trend move with other currencies as opposed to the dollar.
Sept. 9 (Bloomberg) — Robert Sinche, chief strategist at Lily Pond Capital Management LLC, talks about China’s policy on the yuan. Sinche, speaking with Carol Massar on Bloomberg Television’s “In the Loop With Betty Liu,” also discusses the potential that the Bank of Japan may attempt to devalue the yen and the outlook for the U.S. dollar. (Source: Bloomberg)
(Editor’s Note: As with all the information presented in the ‘Noose’ series of articles, please keep an open mind, read the material and corresponding links, do the homework and stop being JUST A MOO producing a revenue stream for the powers that be. Be skeptical; I am. Ask the hard questions. Now more Americans are awake than ever; join us and help us find the ‘real truth’ that has been hidden for centuries. The more people turning over rocks, the faster the truth is going to be known.)
Over the course of the last two months traveling through the labyrinth, I have found it incredibly hard to find a starting point for this series of articles. In desperation, I finally decided to start writing about current events and how discovered research applied to today’s news. Take, for example, the run on Kabul Bank, and the corresponding actions by Afghanistan Central Bank and our Treasury which leads back to the UN, IMF, The Fed, etc. We all know who the players are, what we haven’t been able to prove exactly the combination of who, what, where, when, and how when it comes to wars, national bankruptcies, treaties, government as corporations, and politicians as corporate entities because A) we have been blanketed with thousands of pages in hopes of demoralizing us, and B) much of the documentation is hidden from the public. We know this. To give you some idea of the scope, I spent the morning reading the Paris Peace Treaty of 1783, Bush 41’s EO 12803, and Clinton’s EO 13037 after I had come up empty-handed looking for monetary information on the U.S. Treasury setting up the Afghanistan Central Bank. I know our treasury spent our money on yet another central bank, but find out how much of the billions we have poured into Afghanistan went to establish the bank and anything other than 2002 as a date? Nada. What about Iraq’s central bank which came into existence in 1956 and was nationalized in 1964? Did it change when our government toppled Saddam’s regime? Does it look like The Federal Reserve? What do you think?
The CBI law establishes a Financial Services Tribunal empowered to review decisions and orders of the CBI including actions taken by a conservator or receiver under the Banking Law. The Tribunal is not authorized to review CBI decisions or actions concerning monetary policy and exchange rate policy. The Tribunal will comprise panels of judges appointed by the Minister of Justice. Articles 63-70
What about this?
Prior Law The prior law governing the Central Bank of Iraq was the Central Bank of Iraq Law No. 64 of 1976. The prior law is repealed by the new law. Article 73 In July the Coalition Provisional Authority issued CPA Order No. 18, “Measures to Ensure the Independence of the Central Bank of Iraq.” This order suspended the authority of the CBI to lend to Iraqi Government Ministries and gave the CBI authority to determine and implement monetary and credit policy without the approval of the Ministry of Finance.
Who then would be giving the Central Bank of Iraq their marching orders considering the state the country is still in?
Regulating the banking sector for promoting a competitive and stable financial system
I am currently contemplating turning my living room wall into a whiteboard to keep track of all the different parties and agendas in play. What I have been able to ascertain is that the United Nations appears to be ‘the face’ and the hub from which all the different coalitions and policies are being sent forth; equivalent to the biggest airport terminal in the world. I would dearly love to know exactly who owns the airport; ‘The International Banksters’ isn’t specific enough for me. I want names; all their names.
Please take five minutes to watch this video and I guarantee you will be as skeptical as I still am, but more questions than answers still remain. Why does our government vote against its constituents? Why does the FBI consider ‘American Sovereigns’ to be domestic terrorists? Why have the police been para-militarized, and over-react on a daily basis? Why have doctors stopped curing conditions and only treat symptomology? Why has Monsanto been allowed to run wild in Iraq and Afghanistan? Why did WE spend $582 Million to build an Embassy complex in Iraq? Why has the Federal Reserve been allowed to prosper when they have done nothing except the opposite of their supposed mission to ensure economic stability? Why does any nation follow any proposal the United Nations puts forward when nothing but wars and genocide have happened under their ‘peaceful’ watch?
After a year of humiliating setbacks, United Nations Secretary General Ban ki-Moon and about 60 of his top lieutenants — the top brass of the entire U.N. system — spent their Labor Day weekend at a remote Austrian Alpine retreat, discussing ways to put their sprawling organization in charge of the world’s agenda.
I am often accused of being a right-wing conservative by former dems because I don’t believe the government should be tying everybody’s shoes and offering programs that our descendants will be forever paying for. I am often accused of being a liberal by hard-right conservatives because I don’t think it’s any of my business what women do with their own bodies or what couples do in their bedrooms. It’s a very libertarian point of view.
That being said, a reader sent me a very interesting video from a rally on 9.4.2010, in, of all places, San Francisco featuring Matt Gonzales, John Dennis, and Dr. Ron Paul. Mr. Gonzales was Ralph Nader’s VP candidate, and during the course of the election, the smaller left and right paradigm parties talked about coming up with a litmus test of four points that they could all agree upon; ending the wars in Iraq and Afghanistan; bringing ALL our troops home, privacy issues and the repeal of the Patriot Act and FISA, NOT adding to the federal debt, and my personal favorite, ABOLISHING THE FED (and the crowd goes wild…). The Federal Reserve Mafia is at the very top of my “Enemies of Humanity” list.
John Dennis is running against Queen Nancy; his speech starts at 16:00 minute mark.
Take some time to listen this Labor Day; you may hear something that shifts your paradigm.
G. Edward Griffin speaks to the legislation that Ron Paul is going to be introducing to audit the gold in Fort Knox and the NY Fed. Ron Paul realizes that he has the American people on his side right now considering the events he wants to see happen from abolishing The Fed (because of the fiat debt situation), and the CIA (because of the drug trafficking) to the audits.
