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20 Dec 09

Betty Freauf -- One World Currency on The Horizon?

ONE
WORLD CURRENCY ON THE HORIZON?
By
Betty Freauf

December
17, 2009

NewsWithViews.com
67 more annotations...
- Who
  said last February that it was OK with them to produce a new currency
  to replace the dollar?
- None other than serial tax evader, our U.S. Treasury
  Secretary Timothy Geithner
- and the guy that held his nose when the corporations
  to big to fail began receiving government bailouts, Federal Reserve
  chief, Ben Bernanke.
- In a speech to the Greater Omaha Chamber of Commerce
  on February 6, 2007 Bernanke warned that rising income inequality in
  the U.S. “has been evident for at least three decades, if not
  longer.” [1]
- Gee, I wonder what caused that?
- Could it be the Federal
  Reserve printing money out of thin air causing inflation and the income
  disparity?
- And why did the Obama administration fail to invite the National
  Federation of Independent Businesses (NFIB) and the Chambers to the
  “Jobs Summit” table held early in December?
- National Black
  Chamber of Commerce president, Harry Alford, a guest on Glenn Beck on
  12/9 told how unions with big government jobs that pay prevailing wages
  (40% higher than non-government jobs) discriminate by ignoring minorities
  for these jobs but instead they bring in workers from 60-70 miles away.
  - Just love the Leftist/Liberal hypocrits who are so readily throwing around term like "racists" on everyone else but show their "racism" and bigotry by excluding Blacks and other minorities. - on 2009-12-20
  Add Sticky Note
- While
  he didn’t say it, it is common knowledge among union members that
  they will be reimbursed for food and lodging.
- And then we learn there
  is a Federal Prison Industry that is giving 160 prisoners the “green”
  jobs in one city where 80 other people destined for those jobs were
  laid off.
- It seems governments at all levels are producing the most
  jobs and have the most job security.
- The Chamber used to appease the United Nations regional administrative
  government leaders and now the chamber seems to be unwelcome. Those
  who say Appease, Appease are
  hung by those they tried to please.
- Our
  Congress has become obsolete.
- Former Georgia Governor and Congressman
  Zell Miller in his book, A National Party No More says Washington lawmakers
  have replaced dogs as best friends in favor of Special Interest Groups
  and campaign consultants.
- He says the politicians are regularly petted
  and fed and they wag their tails and do tricks – the favorite
  one being “Beg,” but “Lie Down,” “Stay.”
  “Speak” and “Roll Over” are also favorites.
- The Special Interest Groups have to keep their pets obedient and performing
  in order to distort issues they must keep alive in perpetuity in order
  to make their jobs seem necessary.
- Our dictator’s Executive Decrees
  and his czars in charge of all these unconstitutional U.N. administrative
  governmental agencies are in positions to regulate us to death at random
  and they now seem to be running our country.
- Our
  votes are for cosmetic purposes only.
- I’m
  reminded we’ve been taught the Civil War was fought to free the
  slaves but an ulterior motive of centralized government in Washington,
  D.C. was overlooked in our history books.
- Our Founding Fathers clearly
  understood that only a citizenry educated in morality and willingly
  bound by the self-forced chains of virtue can remain free of the chains
  of tyranny.
- Radio host Rush Limbaugh would ask, “How is Obama’s
  Hoax and Chains working for us?”
- Current centralized government
  with no checks and balances is returning us to slavery.
- And for all
  those “birther”debunkers, on June 27, 2004, the East African
  Standard Newspaper featured a headline that said: KENYAN-BORN OBAMA
  ALL SET FOR U.S. SENATE. Obama, at the time, would have said, “Only
  the president has to be a natural born citizen.”
- The
  February 26, 1968 Dan Smoot Report says prior to the inauguration of
  Democrat Franklin D. Roosevelt in 1933, the American dollar was fully
  redeemable.
- Anyone could take paper money to a bank and exchange it
  for gold (in coins or bars) at the official rate of $20.67 an ounce.
  (Current value of gold is approximately $1200 an ounce).
- Shortly after
  taking office, Roosevelt, by Executive Decree, forbade the use of gold
  as currency, forcing Americans to sell their gold to the government,
  for paper money what could no longer be redeemed.
- On January 30, 1934,
  Congress passed Roosevelt’s Gold Reserve Act, officially abolishing
  our standard gold dollar, prohibiting further gold coinage, and forbidding
  Americans to use gold as currency and making it impossible for them
  to redeem paper dollars in gold.
- Christopher
  Weber in his 1988 book “…Good as Gold”? How We Lost
  Our Gold Reserves and Destroyed the Dollar, said in 1950, U.S. depositories
  held more gold than had ever been assembled in one place.
- Throughout
  the 1950s and ‘60s, the U.S. government exchanged one ounce of
  gold for $35 – despite the fact that more dollars were being printed
  than our gold reserves warranted.
- Then
  in 1971 Republican Richard Nixon closed the gold window by breaking
  the U.S. treaty commitment to redeem the dollar for gold internationally
  and in so doing he removed all constraints on the Federal Reserve’s
  ability to inflate and the government’s ability to pile up endless
  debts.
- On August 15, 1971, the U.S. defaulted on its promise to pay
  gold for dollars. It finally admitted that all the U.S. dollars in existence
  could not be exchanged for gold at $35 an ounce. There were just too
  many dollars and too little gold.
- This realization came too late, for
  by then 400 million ounces of gold – two-thirds of the nation’s
  reserves- were gone and seriously damaged our economy.
- At the same time
  Nixon also imposed price and wage controls and we’ve seen prices
  go up more than 350% since that day.
- (I still have in my possession
  silver certificates from the 60s that were once redeemable in silver
  that is now at approximately $18 an ounce)
- And Nixon, an enthusiastic
  supporter of the New World Order” signed Executive Order 11647
  on 2/10/1972 entered into the Federal Register on 2/12 that divided
  the U.S. into 10 regions, a step towards that New World Order (One world
  government).
- He staffed each of these ten Federal Regional Headquarters
  with the grant-making agencies of the Federal Government with the authority
  of allocating so-called Revenue Sharing “free” government
  money to local units of the government who would jump threw hoops for
  these freebies;
- however, how could the federal government give these
  “Grants” when the Feds have been bankrupt for a long, long
  time?
- Dam
  Smoot writes the day following January 30, 1934, Roosevelt devalued
  the paper dollar (the only time this has been done in American history)
  by declaring the price of gold to be $35 an ounce.
- This gave the government
  a windfall “profit” of $2.8 billion, and cheapened the people’s
  money by 41%.
- Roosevelt had forced the people to sell at $20.67 an ounce.
  He then raised an ounce of gold to $35 by the simple act of saying the
  Treasury would pay that much for gold.
- Though it prevented Americans
  from redeeming paper dollars in gold, the Gold Reserve Act of 1934 provided
  foreign governments and central banking system could sell their paper
  money to the U.S. Treasury for gold.
- Most
  of the monetary gold reserve was stored at Ft. Knox and it was at that
  point we began to see our gold reserves depleted.
- And speaking about
  “windfall profits,” the certifiable nincompoop who currently
  holds the position two steps away from the White House, Democrat House
  Speaker Nancy Pelosi in April 2009 was proposing a windfall tax on retirement
  income.
- In
  the book “The Secret World of Money” by Andrew Gause, he
  was asked, “What would happen if the U.S. went into default on
  the interest payments on our national debt now totaling about $11 trillion
  but which doesn’t take into consideration all the promised future
  entitlements which now could easily be over $100 trillion.
- Perhaps at
  this time we should compare this disaster with what so many people who
  spent themselves into debt and have long been just one paycheck away
  from bankruptcy are now facing.
- Their homes are what the industry calls
  “under water” meaning the equity in their homes has been
  borrowed to the hilt and then the housing market began to deteriorate
  and they now find themselves with a mortgage payment they can’t
  meet due to loss of a job and they owe more than their home is worth.
- As a nation, are we in a similar predicament as these homeowners?
- Are
  their days numbered before they must face the shame of the bankruptcy
  court and attorney’s fees because they tried to keep up with the
  Joneses who may also have been “under water” and drowning
  in debt?
- The bank will foreclose
  on the homes of these common folks who faithfully paid their taxes and
  the bank will try to salvage as much as they can from the home if they
  can sell it.
- American
  is Insolvent.
- In March 2001 the TV news reported
  5% of the House of Representatives, 4% of the U.S. Senate, 4.8% in the
  Republican President George W. Bush’s cabinet, 1.7% of I.R.S.
  employees were delinquent and tax
  evaders.
- But
  then there is the privileged class.
- While there are a “few good men and/or women”
  who serve us in Washington, D.C., face it you common folks, the elitists
  in Washington, D.C. do not give a darn about you.
- These greedy, totally
  incompetent lickspittles are the problem – not the solution.
- On
  October 12, 2009, Bloomberg News Service reported the U.S. dollar had
  reached the breaking point because central banks were snubbing the dollar
  and replacing it with euros and yen.
- So what if the U.S. goes bankrupt?
  Will that mean the end to our sovereignty? Will that mean our personal
  real estate being held as collateral will soon be owned by China?
- Did
  the Red Chinese flag that was raised over Washington, D.C. in September
  2009 to commemorate the anniversary of the communist takeover of China
  by Chairman Mao sixty years ago send a message that “we win, you
  lose?”
- Did
  your paper like mine recently report in section Z a couple paragraphs
  about how North Korea revalued its currency known as “won,”
  at an exchange rate between old and new notes of 100 to 1? Does this
  mean if the North Koreans had $100 “won,” they would now
  have “one won?” The currency reform understandably sparked
  panic among its citizens.
- Is
  that coming to America? Are we heading for a universal currency or a
  cashless society?
- Some became concerned about the 666 System from Revelation
  when scanners were installed in stores but soon we went back to sleep
  and it became common place from President Jimmy Carter’s new Secret
  Security Force patches that had “666” on them to the U.S.
  Treasury Department, Internal Revenue Service Alcohol Tobacco and firearms
  badges using “666.”
- Some with medical problems had computer
  chips placed in their bodies for easy scanning by medical personnel.
  Others put chips in their dogs in case they got lost. Young people began
  to jump on the tattoo fad.
- These
  may be the best of times and the worst of times depending upon a person’s
  relationship with the Lord Jesus Christ.
- Other United Nations Regional
  administrative government agencies make the rules and they can do anything
  they wish.
- Our Constitution is no longer applicable. It’s “outmoded!”
  It won’t protect us. If we think the violence is bad now, we “ain’t”
  seen nothing yet should the Lord tarry.
- Footnotes:
  
  1-
  The Late Great U.S.A. by Jerome Corsi (P. 182)
- © 2009 Betty Freauf - All
  Rights Reserved
- Betty is a former Oregon Republican
  party activist having served as state party secretary, county chairman,
  5th congressional vice chairman and then elected chairman, and a precinct
  worker for many years but Betty gave up on the two-party system in 2004
  and joined the Constitutional Party.
  
  Betty is a researcher specializing in education,
  a freelance journalist and a regular contributor to www.NewsWithViews.com
  
  E-Mail: bettyboot@countrycablevision.net

01 Nov 09

Dollar Collapse Update: "Obama Demands Pay in Euros!"

www.globalresearch.ca/index.php - Preview

mike-whitney dollar-collapse USA federal-reserve bernanke politics NWO engineered-collapse economy jobs employment october-2009

Dollar Collapse Update: "Obama Demands Pay in Euros!"
by Mike Whitney
36 more annotations...
- Global Research, October 25, 2009
  
  Information Clearinghouse - 2009-10-23
- The "dollar debate" on the Internet has been ferocious and emotionally-charged, but sadly lacking in logic. To oppose the "dollar will crash" theorists is like arguing a woman's right to choose with the fist-waving throng assembled outside an abortion clinic. The results are equally disappointing.
- To say that "minds are already made up and the issue is settled", is an understatement.
- For many, the dollar's transition from the world's reserve currency to a Wiemar era Deutschemark is not a question "if" but only of "when".
- One reader summed up the distrust that's felt for anyone who dares to challenge the prevailing dogma like this:
  
  "Mike.....Your article on October 19th 2009 titled “The Dollar will NOT crash,” made all of us in this part of the world who respected your views and opinions feel disturbed and appalled....Then my friend explicated and reminded me, “From the time of Chaim Weizmann’s solicitous and guile behavior towards the politicians, the media and the newspersons, the powerful Zionists lobby had perfected the art of falsity and misrepresentation."
  
  Uh, okay. So, now opposing the dominant theory not only proves that one is a fool, but also a tool of the "Zionist lobby"?
  
  This is why struggling writers always keep the refrigerator stocked with a hearty malt.
- No one can deny that the dollar COULD crash or that it faces stiff headwinds in the years ahead as the fiscal deficits continue to pile up. But let's not overreact.
- Japan's deficits are twice the size of GDP and bond yields are still hovering below 2 percent. In other words, the Japanese are fighting deflation, so no one is particularly worried about inflation. That's as it should be.
- In the US, deficits are a paltry 12 percent of GDP, and already people have their knickers-in-a-twist.
- But--on the other hand-- if the government suddenly stops spending money and running huge deficits; unemployment will skyrocket, banks and businesses will default, foreclosures will rise, and the economy will slip back into a very severe recession.
- Even deficits soar above 100 percent ($14 trillion) it's unlikely that they'll crush the dollar.
- The myth that "You can't solve a debt problem by creating more debt" is pure bunkum. That's for people who want to balance the budget at all costs, regardless of its effect on working people.
- The goal should be to get the economy back on its feet and worry about the red ink later.
- Here's Paul Krugman explaining why the Fed is engineering a weaker dollar:
- "Although there has been a lot of doomsaying about the falling dollar, that decline is actually both natural and desirable. America needs a weaker dollar to help reduce its trade deficit, and it’s getting that weaker dollar as nervous investors, who flocked into the presumed safety of U.S. debt at the peak of the crisis, have started putting their money to work elsewhere.
- But China has been keeping its currency pegged to the dollar — which means that a country with a huge trade surplus and a rapidly recovering economy, a country whose currency should be rising in value, is in effect engineering a large devaluation instead.
  
  And that’s a particularly bad thing to do at a time when the world economy remains deeply depressed due to inadequate overall demand." (Paul Krugman, "The Chinese Disconnect" New York Times)
- So, if China is so worried about their massive investment in dollars, (as everyone seems to think) then why aren't they letting their currency rise so the dollar can weaken? It's because they are more concerned about sustaining demand then problems with the greenback. They're showing they have more confidence in the dollar than most Americans.
- It is true that the dollar has dipped 15 percent since summer, but so what? That just means that people are less scared now then they were after Lehman Bros. collapsed.
- Here's a clip from the Economist explaining it all:
  
  "The simplest explanation for the currency’s decline is based on risk aversion. On the days when risky assets fall, the dollar tends to go up. When risky assets rise, the dollar falls. The dollar has fallen fairly steadily since March, a period which has seen stockmarkets enjoy a phenomenal rally. Domestic American investors may be driving the relationship, repatriating funds in 2008 when they were nervous about the state of financial markets and sending the money abroad again this summer because of a perception that the global economy is reviving." ("Down with the Dollar" The economist, Oct, 2009)
- As time goes by, the relationship between stocks and the dollar will change, but for now, the rule is still holds.
- So why is this debate about the dollar so important?
- Because the majority of people believe that the real problem is the deficits, and not the economy. That's just flat wrong, and it creates political opposition to more stimulus, which we need.
- Blame it on the media for convincing people that we are in a recovery and that "green shoots" are sprouting up everywhere. It's pure fiction. The country could still wind up in a Depression when the stimulus wears off. And it's wearing off very quickly. (The effects of the stimulus will peak in the Third Quarter)
- Consumer credit is contracting at a year-over-year rate of 5 percent. Household balance sheets are in tatters, savings are up, spending is down, and unemployment is headed for 10 percent.
- Record foreclosures, delinquencies, bankruptcies, and defaults are sucking credit from the system making it harder for the Fed to keep the economy sputtering along. If the Fed cuts off the bloodflow of monetary stimulus, the patient will slip into a deep coma.
- Here's a likely scenario of what could take place in the next few months:
- Even though the signs of severe deflation are visible everywhere, investors short the greenback and the dollar plunges to $1.60 per euro. That increases public angst which sets off a firestorm on Capital Hill. The Congress forces the Fed to stop its quantitative easing (QE) program (which has already pumped over $1 trillion into US Treasuries and mortgage-backed securities) and long-term interest rates spike overnight. This puts downward pressure on the housing market and the slump deepens. More jobs are lost, more banks and financial institutions default, perfectly good businesses cannot role over their debt and call it quits, prices fall across the board, the stock market retraces its March lows, and the economy ends up in the ditch.
- Think it can't happen?
- It's like performing kidney surgery with a meat cleaver.
- Bernanke's problem, is that all the tools at his disposal are blunt instruments.
- Dropping interest rates and printing money can stave off deflation, but it also pushes stocks higher than anyone really wants. That leaves traders on the sidelines waiting for a market correction before they jump back in.
- The same is true of the dollar.
- Sure, Bernanke wants a cheap greenback to spark exports and reduce household debt, but when the dollar plunges to $1.60 per euro, then the sh** hits the fan and the public outcry forces him to change directions.
- If the dollar falls any further, the Fed will have to shut down the printing presses altogether and watch while the boat capsizes. The problem is more political than economic.
- US policymakers should drop this nonsense about the dollar and deal with the underlying problem itself; lack of demand. That means the focus should be on wage growth and full employment. If that means printing up a couple more trillion; then get to it! Getting people back to work and paying them decently should be job one.
- (Note: Title was taken from a comments line on a previous article from Dmark)
- Mike Whitney is a frequent contributor to Global Research. Global Research Articles by Mike Whitney

23 Oct 09

Financial Coup Completed! American Economy Now A Tightly Controlled, Severely Regulated Economy

cuttingedge.org/n2317.cfm - Preview

the-cutting-edge 2008-coup finance USA global japan fascism george-bush bailouts federal-reserve elite Lucies NWO

Title:
Financial Coup Completed: American Economy Now A Tightly Controlled, Severely
Regulated Economy
Subtitle: Transition To Severely Regulated Fascist Economy Is Now
Going Global -- Europe, Great Britain, Ireland, and Iceland Are Going Through
Same Planned Disaster As American Companies!
63 more annotations...
- The Whole World Is Transitioning
  To The Planned Regulated Economy of The Coming Masonic Christ
- The "Bailout Plan" was never
  intended to solve the economic crisis, but only designed to grant the Treasury
  Secretary dictatorial powers -- an Economic Czar!
- Capitalism is DEAD in America - Fascist
  Economy is now a reality
- The New World Order is coming! Are you ready? Once you understand what
  this New World Order really is, and how it is being gradually implemented, you
  will be able to see it progressing in your daily news!!
- Copyright © 2008 Cutting Edge Ministries. All rights reserved.
- The American Economy is
  now Fascist -- thanks to the President's signature on the "Emergency Economic
  Stabilization Act of 2008", a bill which was commonly referred to as the
  "bailout bill".
- Therefore, this new system
  sets the stage for the End of the Age prophecies found in Revelation 13:16-18,
  the Mark of the Beast passage.
- The planned economy of
  the coming Illuminati Masonic Christ is Fascist!
  - As was revealed to me in 1992 - on 2009-10-23
  Add Sticky Note
- For those of you who do not know the difference between a Capitalist
  and a Fascist and a Communist Economy, please allow us a few moments to detail
  the critical differences.
- * Capitalism is
  that type of economy in which private individuals own the Means of Production,
  i.e., the factories and the mines. The companies founded by these private individuals
  then compete openly with one another in the Marketplace. No one tells the owners
  what to produce, or how much to produce, or how much to charge. Competition
  is the primary determinant of prices, and careful attention to the needs and
  wants of the people within this type of economy determines how much is produced.
  Capitalism may have its faults, but it has produced the highest standard of
  living in history for her citizens.
- * Communism is that type of economy
  in which the State owns the Means of Production. Companies are told what to
  produce, when to produce it, and how much they can charge. This type of control
  is supposedly enacted in the interests of the "people", to ensure
  that they are treated "fairly". However, history has shown that Communism
  never works; rather, it delivers the most wretched conditions on earth for its
  citizens.
- * Fascism is the economic system
  of Nazi Germany, National Socialist Italy, and Imperial Japan.
- Today, only Japan
  retains this system.
- In Fascism, private individuals retain control over the
  Means of Production, thereby ensuring that the key element which makes Capitalism
  work so well is kept in place. However, the Government intervenes to control
  how much is produced of any item, how many competitors can be making the same
  item, and how much they can charge. Therefore, the potential for the most profit
  lies within the Fascist economy!
- The experiment with Nazi Germany and Imperial
  Japan proved that Fascism does work. We have seen that the proper coordination
  between Government and Capitalism does work.
- The economy planned for the New World Order is Fascist; therefore, the private
  Captains of Western Industry are the most anxious for this new system to begin,
  so they can begin to reap the rewards of dramatically increased profits.
- That
  time has now arrived as this new law establishes a Fascist Economy, as the Federal
  Government now has enormous financial power and will own controlling equities
  in the companies they are "rescuing".
- Let us now examine the specifics of this awful plan which hands control of
  the entire American economy into the hands of the Treasury Secretary -- in the
  guise of "bailing out" the entire economy.
- NEWS BRIEF: "President
  Bush Signs The "Emergency Economic Stabilization Act of 2008"
  , Wikipedia, the free encyclopedia
- "The Emergency Economic Stabilization Act of 2008, commonly referred to
  as a bailout of the U.S. financial system, is legislation authorizing the United
  States Secretary of the Treasury to spend up to US$700 billion to purchase distressed
  assets, especially mortgage-backed securities, from the nation's banks. The
  Act was proposed by U.S. President George W. Bush and Treasury Secretary Henry
  Paulson during the liquidity crisis of September 2008."
- Listen to the rationale behind this incredibly expensive bailout bill!
- 1) "Stabilize the economy: "We must...avoid a continuing
  series of financial institution failures and frozen credit markets that threaten
  American families' financial well-being, the viability of businesses both small
  and large, and the very health of our economy."
- 2) "Improve liquidity: "These bad loans have created
  a chain reaction and last week our credit markets froze – even some Main
  Street non-financial companies had trouble financing their normal business operations."
- 3) "Comprehensive strategy: "We must now take further,
  decisive action to fundamentally and comprehensively address the root cause
  of this turmoil.
- 4) "Immediate and significant: "This troubled asset
  relief program has to be properly designed for immediate implementation and
  be sufficiently large to have maximum impact and restore market confidence."
- 5) Broad impact: "This troubled asset purchase program
  on its own is the single most effective thing we can do to help homeowners,
  the American people and stimulate our economy."
- But, we urge you to remember that these goals
  listed above were never the REAL goal of the plan. The hidden agenda of this
  legislation is to begin the transition from a Capitalist Economy based upon
  competition and private ownership to a Fascist Economy based upon government
  control of private ownership.
- Based upon the immediate negative reaction from the stock markets here and
  abroad, professional investors must believe that this bailout plan will not
  achieve the above goals. We agree.
- Based upon this criteria, America's economy has now transitioned into a Fascist
  economy.
- Treasury Secretary Paulson wasted no time tackling the process of controlling
  key financial assets of the American economy.
- NEWS BRIEF: "Treasury
  to Hire 10 Asset Management Firms to Jumpstart Rescue ", Bloomberg
  Financial News, October 4, 2008
- "Treasury Secretary Henry Paulson is hiring as many as 10 asset-management
  companies to join the lawyers and bankers he is recruiting to kickstart the
  government's new $700 billion bank-rescue program.
- The Treasury began implementing
  the plan within an hour of Congress yesterday giving Paulson the powers he sought
  to combat the U.S. financial crisis. Paulson is seeking to assemble a team to
  determine which toxic securities to target, how to value them and how to buy
  them."
- Paulson kicked his plan into gear so quickly you have to wonder if he had everything
  planned out years in advance. Indeed, one chief accountant alluded to this detailed
  previous planning.
- "'This is something that, for a typical company, would take no less than
  five years', said Lynn Turner, a former chief accountant at the Securities and
  Exchange Commission. 'Anyone who thinks they can do this in two weeks is insane'.''
- Even billionaire Buffett is getting in on the act!
  
  "Warren Buffett, the billionaire who spent $8 billion in the past two weeks
  to buy stakes in General Electric Co. and Goldman Sachs Group Inc., has also
  offered his views ... 'Any time I can be of help to the government, in terms
  of giving advice -- I've given a little advice, actually', Buffett said in an
  interview from San Diego with PBS's Charlie Rose on Oct. 1."
- What powers does this act give the Federal Government?
- "The Emergency
  Economic Stabilization Act of 2008 gives Paulson, 62, immediate
  authority to buy as much as $250 billion in troubled assets from banks and other
  financial institutions. The White House may expand the program by another $100
  billion, and the Treasury can access the remaining $350 billion with Congressional
  consultation ...
- The plan allows Treasury officials to ``intervene very quickly
  if they want to,'' said Vincent Reinhart, a resident scholar at the American
  Enterprise Institute in Washington and former director of the Federal Reserve
  Board's Division of Monetary Affairs. He predicts the Treasury will 'act in
  markets first', possibly by working through the Fed."
- Make no mistake about this fact: the Federal Government is now the 800-pound
  gorilla in the financial bedroom, and he will not be ignored! And, the economy
  will never be the same. Now that the Government owns an equity state in these
  companies it is "rescuing", the economy will be as finitely controlled
  as the Japanese government guides the Fascist economy of that nation.
- All you have to do is to look at the performance
  of the Japanese economy since World War II to understand this. Once the furor
  settles down from the deliberate murder of the Capitalist system, the new Fascist
  Economy will perk along quite nicely!
- As we stated earlier, the Fascist Economy does work almost as well as Capitalism
  in creating and spreading wealth.
- Crisis Planned To Spread
  Worldwide
- NEWS BRIEF: "European
  Leaders Vow To Continue Bailouts ", Bloomberg Financial News,
  October 5, 2008
- NEWS BRIEF: "U.S.
  urges global action on credit crisis", Reuters News, October
  6, 2008
- NEWS BRIEF: "Global
  Agenda: 'Days of Awe' for world economy", The Jerusalem
  Post, October 6, 2008
- NEWS BRIEF: "Germany
  guarantees savings to avert panic", Financial Times, October
  6, 2008
- NEWS BRIEF: "German
  gov't, banks agree to $69B bailout for Hypo Real Estate AG ",
  Excite News, October 6, 2008
- NEWS BRIEF: "Danish
  government guarantees bank deposits ", Irish Times, October
  6, 2008
- NEWS BRIEF: "Iceland's
  economy on brink as lender falters", Sydney Morning Herald,
  October 6, 2008
- As you can see from these headlines, the planned financial crisis
  which has been engulfing the American market was now planned to go overseas.
- The bottom line agenda in developed nations overseas is as it was here: to bury
  the Capitalist system based upon competition so that the planned Fascist system
  based upon government regulation can be erected in its place.
- Remember, there will
  be no economic collapse before the start of the World War III designed to produce
  Antichrist on the world stage.
- The global economy which will serve Antichrist is the Fascist
  system, so it is exciting to see it coming into reality.
  - As was told me explicitly in 1992 - on 2009-10-23
  Add Sticky Note
- But, global managers will drive the world's economy
  right to the brink of disaster before veering away.
- Only this type of seemingly imminent disaster will allow the Illuminati
  to erect the planned economic system which will serve Antichrist.
- Isn't it exciting to see the stage being set for Book of Revelation
  prophecy?
- Are you spiritually ready? Is your family? Are you adequately
  protecting your loved ones?
- This is the reason for this ministry, to enable
  you to first understand the peril facing you, and then help you develop strategies
  to warn and protect your loved ones.
- Once
  you have been thoroughly trained, you can also use your knowledge as a means
  to open the door of discussion with an unsaved person. I have been able to use
  it many times, and have seen people come to Jesus Christ as a result. These
  perilous times are also a time when we can reach many souls for Jesus Christ,
  making an eternal difference.
- If you have accepted Jesus Christ
  as your personal Savior, but have been very lukewarm in your spiritual walk with
  Him, you need to immediately ask Him for forgiveness and for renewal. He will
  instantly forgive you, and fill your heart with the joy of the Holy Spirit. Then,
  you need to begin a daily walk of prayer and personal Bible Study.
- If
  you have never accepted Jesus Christ as Savior, but have come to realize His reality
  and the approaching End of the Age, and want to accept His FREE Gift of Eternal
  Life, you can also do so now, in the privacy of your home. Once you accept Him
  as Savior, you are spiritually Born Again, and are as assured of Heaven as if
  you were already there. Then, you can rest assured that the Kingdom of Antichrist
  will not touch you spiritually.
- God bless you.
  Copyright © 2008 Cutting Edge Ministries. All
  rights reserved. This password protected article and its contents are protected
  under the copyright laws of the United States and other countries. This article
  is provided by subscription only for use by the subscriber and all other rights
  are expressly reserved by the copyright owner. Copying and pasting this article,
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  on the Internet is strictly prohibited and may subject the offender to civil
  liability and severe criminal penalties (Title 17, United States Code, section
  501 and 506).

15 Oct 09

Gerald Celente explains ‘Obamageddon’ forecast amid call for The Great American Renaissance

Oh, and there would be a firestorm, the media would be filled with it…but you can’t call the white shoe boys crooks.”
98 more annotations...
- Well, Gerald, you can gladly add Barello to the aforementioned list. As a fellow paesano I am going to join you – and break the absurd rules of politic correctness – by asserting that Wall Street and Washington D.C. are being run by psychopathic serial criminals.
- For those that feel this declaration is overzealous, please read the recent commentary of Jim Kouri, vice president and public information officer at the National Association of Chiefs of Police, wherein he likens the personality traits of politicians to serial killers.
- The mortgage market collapsed due to massive, unprecedented frauds.
- More people would realize this if mainstream media outlets properly exposed such crimes;
- granted, investigative journalism has been pushed aside, and in its place, we find an array of pseudo-celebrity, nonentity imbeciles like John and Kate Gosselin, desperate for their 15 minutes of shame.
- Either way, most mortgage frauds were facilitated by both lenders and borrowers – many of whom knowingly agreed to terms they could not afford.
- Through the process of securitization, these bad loans have been turned into hot potatoes for tossing, often with the help of Fannie Mae, Freddie Mac, and Ginnie Mae;
- this has allowed lenders to deceitfully transfer risky loans to unsuspecting counterparties.
- Ratings agencies aided and abetted the racket by claiming these junk assets are safe; accordingly, corporations, municipalities, and a plethora of worldwide investment vehicles have purchased toxic garbage, and many risk collapsing under the weight of such.
- As this has happened, unregulated, over-the-counter derivatives have allowed the same criminals to secretly hedge bets against portfolios – knowing full well that many of them would indeed go sour – and when credit events occur, they collect truly absurd bounties.
- Accordingly, Gerald is no fan of derivatives. “They are ponzi schemes,” he said, before quipping that the term should really be “Madoffs” from now on. “Ponzi was a piker compared to Madoff, [which] is more appropriate, because they make off with all your money.”
- Per the latest assessment by the Bank for International Settlements, as of last December, the OTC derivatives market encompasses $592 trillion in notionally valued contracts. One should wonder how this is even possible, when the World GDP was estimated at a shy $61 trillion in 2008.
- This would also suggest that – when taken at face value, anyway – the potential liabilities for outstanding derivatives may exceed the entire world’s real wealth almost ten times over. With those odds, it sounds like another major financial disaster is just waiting to happen.
- In August, Harry Markopolos – the Madoff whistleblower that was ignored by the SEC for over a decade, while fearing for his own safety – stated that the derivatives market will fully collapse, and when it does, it will make Madoff “look like small time.”
- Despite this dire warning, the mainstream media has since ignored Markopolos, just as the SEC so prudently did for more than ten years.
- Bob Chapman of The International Forecaster recently wrote about the possibility of Chinese firms unilaterally defaulting on derivatives contracts; he notes that China may in fact consider these fraudulent assets to be de facto acts of economic warfare.
- In consideration of this purported viewpoint, it is interesting to note that Warren Buffet has been quoted as saying derivatives are “financial weapons of mass destruction.” Would you care to elaborate any further, Mr. Buffet?
- Another key derivatives critic is Christopher Story FRSA, editor of the UK-based International Currency Review, which he has been publishing for 40 years; Story counts central banks, sovereign treasuries, and government intelligence agencies around the world among subscribers.
- Noted as a former occasional adviser to Margaret Thatcher, he has long maintained that the entire derivatives sector is centered on fraud.
- His website also presents a chronicle of very serious allegations – tantamount to charges of ongoing, worldwide economic terrorism – against high-level individuals within the US government and financial sectors, including current and former presidents, cabinet secretaries, intelligence agents, as well as Federal Reserve and banking officials.
- It is common knowledge that severe consequences accompany the willful publication of libel in the UK; per Mr. Story, Britain’s Head of State, Her Majesty the Queen, and many other world leaders, are fully aware of these allegations.
- As he has not been prosecuted for disseminating libelous statements, one can only assume that these charges, spanning back at least six years, are indeed based on facts.
- Granted, I am in no position to individually authenticate purported crimes, but I can enlighten others on what is being published over an international landscape; after reviewing this catalogue of analysis – which forecast most of the events that are happening today – some will certainly be inclined to contact US law enforcement agents, and demand an investigation into these shocking claims.
- If that is the case, please do so in a civil manner. (Note: this report has been submitted directly to American authorities.)
- I mentioned Mr. Story’s stance on derivatives to Gerald; the other allegations were not specifically referenced during our conversation. “Story is one-hundred percent right…these are con games,” he said, in regards to derivatives.
- Clearly, the people running this nation are “out of control,” Celente continues, noting that as economic conditions further deteriorate “people are going to start losing it,” he said.
- “But, they are going to lose it in different ways: our greatest fear for the future [is] rampant crime, and the society breaking down.”
- He pauses briefly, and then offers a truly frightening thought. “When we say food riots, it’s going to people rioting just to eat.”
- Given these horrid possibilities, I ponder the following thoughts: up to $24 trillion of taxpayer funds will be used to subsidize a financial system that is reported to be in worse shape than it was one year ago –
- and per TARP watchdog Neil Barofsky, a lot of that money will never be recovered – while food riots may be approaching for many others?
- You have got to be kidding me. The aforementioned, perverse statements have no place in this world; my ancestors did not immigrate to America so that dilapidated thugs could become empowered by the fruits of their labor and create “the greatest depression” for this entire planet.
- Furthermore, it is important to point out that I inherited my blood from men that were the “Oath Keepers” of their respective heydays; indeed, my Great-Grandfather, Willard J. Kirchmer, 1st Lieutenant, US Army, World War 1, and my Grandfather, Mario Rocco Barello, Fireman, Second Class, US Navy, World War 2, took their oaths to support and defend the US Constitution exceptionally serious.
- As a descendent of these gentlemen, I can assure you that their oaths will continue to live on, unabatedly, through me.
- That being said, as a truly pivotal moment in our nation’s history approaches, We the People must assert our non-negotiable authority over what rightfully belongs to us: our government.
- “Politicians don’t care,” Gerald prudently concluded, before adding, “the only thing they are interested in is themselves, and if anybody thinks that a politician is losing sleep because they are losing their house, they had better grow up.”
- It is clear that people are in fact wizening up; the massive, ongoing ‘Tea Party’ protests are surely a sign of it.
- More importantly though, critics of these events must be fair, and recognize that the movement started long before the debate on healthcare reform entered the picture – it formed in response to the absurd bailouts of Wall Street criminals.
- Celente forecast the ongoing continuation of politically-charged protests several months ago, saying “we’re calling, of course, for an intellectual revolution: that people understand, become knowledgeable and not rise up against the government in an armed way, but in an intellectual way.”
- He also believes “we need a new, third [political] party.”
- As America wakes up, those in power are doing everything they can to discourage us.
- Protesters are being labeled radical for utilizing their God-given, constitutionally protected freedom of speech to petition the government for a redress of grievances.
- Be that as it may, public officials would be very wise to respect the words of John F. Kennedy, who once said, “Those who make peaceful revolution impossible will make violent revolution inevitable.”
- American Patriots must peacefully band together in this intellectual revolution – and embrace the principles of civil disobedience over violence – to force changes within our Federal Republic and its governing structures.
- By doing so, our nation will be empowered to foreclose on the ethically, morally, and financially bankrupt cesspool of corruption, which is destroying the entire world with it.
- In short, we need a change we can believe in; we need a new era – The Great American Renaissance – and we need it right now.
- “The whole system is breaking down and something new will be born, but if we use our intellect, rather than continue along the same path, we can create a better future,” says Celente.
- “We don’t need Wall Street, we need Main Street. We don’t need Wal-Marts, we need Mom & Pops. We don’t need agribusiness, we need family farms.
- We need to bring America back to when it was at its most, when it was the most egalitarian nation in the world, when the quality of life was at its highest. That was the model [for success].”
- “For America to regain its greatness, it has to regain its dignity. It has to bring back the model that worked in the past and push it forward…it’s a rediscovery…we have to go back to quality, and quality is the basis for success,” while at the present time, “we’re a junk food nation [that is fed] junk news.”
- We are also being crippled by outlandish, across-the-board corruption, and it must be stopped.
- In light of Gerald’s comments, I must note that research indicates a majority of Americans do not trust mainstream news outlets.
- Although many will not want to hear it, this degradation in confidence is partially attributed to lingering questions about 9/11; in the absence of any mature discourse on the subject, an unstoppable, ever-growing assortment of conspiracy theories have emerged within the public domain.
- At the same time, international media outlets are beginning to question the “official story”, while in the US, Truthers™ are unwittingly exploited by hoodwinks, which causes politicians and media to shun them; out of respect for the near 3,000 victims of 9/11, this state-of-affairs is collectively inexcusable.
- Over the past eight years, the media has also demonstrated a perceivable complicity in promoting lies to rally Americans behind ill-fated policies, such as the wars in Afghanistan and Iraq;
- furthermore, some outlets now appear to unapologetically support President Obama in every action, as if he is our best friend – and not a politician.
- Media executives should recognize that few will continue tolerating the brainless assumption that news outlets exist to merely report what the government tells them; such ignorant evasions will not validate the continued existence of organizations that are derelict in their mandated duty, which is to objectively question every alleged fact.
- Perhaps that is precisely why the oligopoly of media conglomerates is now impotent in mitigating the collapse of many sub-entities?
- If ever there was a time for the mainstream media to prove its worth, the time is now: a whirlwind of major political scandals are ripe for exposure, and they cannot be suppressed.
- Any outlet that demonstrates fortitude, and accurately reports on these emerging “gates” – particularly in the financial arena – will reap the massive benefits associated with public trust; in short, your audience shares will increase, along your advertising revenues.
- Directors at Fox News are ecstatic that the network’s viewership continues to grow, so bear with me as I state the obvious: political conspiracies offer an unparalleled level of appeal.
- To prove my point, one of this conglomerate’s most successful recent TV dramas – Prison Break – thrived due to its sharp, ongoing integration of high-level political conspiracies; at the same time, the show was obviously a smash because of its handsome breakout star, Wentworth Miller, a brilliantly talented man.
- Either way, imagine the ratings that Fox News would generate – and the income for its shareholders – if it were to integrate a model-of-the-sort in its news programming.
- Obviously, your exposures of ACORN have been groundbreaking, so why not have Glenn Beck, Sean Hannity, Bill O’Reilly, and/or Greta Van Susteren look into the following?
- Recently, 60 Minutes exposed the true nature of derivatives and how they have been used to manipulate markets in recent years; furthermore, right in this very article, Gerald Celente – whom Bill and Glenn have had on their shows – is on the record acknowledging rampant derivatives frauds, which if left unchecked, may destroy the US capitalist system as we know it.
- Glenn, I know that the collapse of capitalism is something you fear greatly, is it not?
- In the following, heavily underreported clip, Steve Kroft fearlessly addresses these de facto scams known as derivatives – primarily credit default swaps – and notes that they are:
  
  A form of legalized gambling that allows you to wager on [financial] outcomes without ever having to actually buy the stocks, and the bonds, and the mortgages [that they are written against]. It would have been illegal during most of the 20th century under the gaming laws, but in 2000, Congress gave Wall Street an exemption and it turned out to be a very bad idea.
- After viewing this explosive video, you will have seen Harvey Goldschmid, a Columbia University law professor, and former commissioner and general counsel of the Securities and Exchange Commission acknowledging that the provisions of the Commodity Futures Modernization Act of 2000 were made into law “at the height of Wall Street and Washington's love affair with deregulation, an infatuation that was endorsed by President Clinton at the White House and encouraged by Federal Reserve Chairman Alan Greenspan.”
- At the very least, both gentlemen owe the American public real explanations as to why they supported such moves, and while we have their time, let’s ask about the allegations being directly lobbied at them by Mr. Christopher Story FRSA.
- In all fairness, though, it would not be right to lay the political blame for this disaster solely on the shoulders of former President Clinton, his administration, and Mr. Greenspan;
- no, we must give a fair share of attention to former Senator Phil Gramm, who is now vice chairman of the investment banking division at UBS, a criminal organization that recently agreed to pay nearly $800 million in fines to settle any US prosecution of its role in facilitating tax evasion.
- Mr. Gramm, whose utter contempt for the American public has been thoroughly demonstrated time and again, can also be thanked for sneaking the unmitigated, disastrous CFMA provisions – which were unlikely to have ever passed through Congress in a stand alone bill – into a Christmas-season appropriations bill that most House representatives clearly failed to read.
- The Senate later approved these toxic addendums in a unanimous vote, which coyly allowed CFMA to be signed into law.
- Obviously, many aspects of CFMA – particularly all clauses that provide legal certainty for unregulated OTC derivatives – must be rescinded immediately; however, this alone will not lead us, and the entire world, out of the financial crisis.
- As all of us know, the belief that some firms are too big to fail is, in-and-of-itself, an abject failure; accordingly, we must reverse this policy and dismantle every insolvent, transnational, all-in-one financial institution that has come to life – and collapsed – over the past decade.
- At this process unfolds, we need to examine why the Financial Services Modernization Act of 1999, also known as the Gramm-Leach-Bliley Act, was passed by Congress and signed into law by President Clinton.
- This rubbish-encrusted non-improvement repealed key aspects of the Glass-Steagall Act of 1933, which became effective during the height of the Great Depression, and prohibited any one financial firm from partaking in commercial banking, investment banking, and/or insurance at the same time.
- A quick reflection brings two thoughts to mind: the first is that the use of the word modernization in finance bills tends to serve as an indicator that future problems will arise, so let’s refrain from using such terminology moving forward.
- Secondly, Mr. Gramm has once again demonstrated how connected his own hands are to this financial crisis, hook, line and sinker.
- With friends like you, Phil, who needs enemies? I urge investigators to keep that question in mind, especially as they continue to uncover the actions of Gramm and others, who literally believe they can do whatever they want, whenever they want.
- To be fair to the former senator, who has received a decent portion of this writer’s indignation, we should also pay close attention to the following 155 present members of Congress – 101 in the House, 54 in the Senate – that voted in favor of FSMA one decade ago.
- Thanks to the Center for Responsive Politics, we are able to deduce exactly how much money each of them have received in financial contributions, through 2008, from the very same industry that directly benefited from these changes.
- We need to reform our campaigning and election laws, and in doing so, we should adapt a more European model, which shuns the use of private funding, and severely limits overall campaign seasons, typically to around six weeks.
- The previous list, which totals into hundreds of millions of dollars, hammers the nail on why the influence of corporate funding is dangerouos, while the years 2007 and 2008 in America speak to the latter.
- Elections are not meant to be elaborate, multi-media rock concerts; they are supposed to be elections, plain and simple.
- Dr. Ron Paul – perhaps the only true, remaining Statesman in Washington, D.C. – deserves much gratitude from the American public;
- his courageous, uninterrupted opposition of the Federal Reserve spans back many years, and it ultimately proves why he is a major ally for those of us seeking The Great American Renaissance. Congresscritters should note his leadership skills, and follow them to the tee.
- Personally, I believe The Creature from Jekyll Island should have been instantaneously abolished earlier this week, when it emerged that the Fed has committed a fiduciary perjury against Americans (and the rest of the world) – the Treasury Department has, too –
- but something tells me that once the books and activities of this parasitic fiend are exposed, by audit, or otherwise, Dr. Paul will ultimately get his way, and we will finally End The Fed, once and for all.
- I cannot understand why any politician or businessperson would support the continual operations of a privately-controlled central bank that has caused the US dollar to lose an estimated 95% of its value over the course of its near 100-year reign.
- That’s just me though, and while I am an advocate for a return to the gold standard, at the very least, the elimination of the Fed would provide one giant leap forward for all of mankind, and one hell of a kick start for The Great American Renaissance.
- The final key to our economic recovery, if published reports are true – and a much-needed lifeline for the US dollar – may be provided to America by our greatest and most important ally, the UK.
- As many foreign nations now appear ready to flee the dollar, we must investigate the sincerity of a purported offer – apparently on the table now for several years – that is directly attributed to Her Majesty, Queen Elizabeth II, among others.
- God willing, the Dollar Refunding Operation is indeed a bona fide pro bono offer from the British Monarchy.
- I cannot – and will not – claim to know what the full story is behind these proposals, but if any official US sources are willing to comment on this, they are encouraged to do so without delay. Our entire nation is on the brink of collapsing, as demonstrated herein.
- I am also aware that when I say God Almighty directs my actions, it will provoke cynical feedback from certain parties; regardless, that is indeed the fact-of-the-matter from my perspective, and thus, no one can tell me to believe otherwise.
- I am fully aware that by raising certain topics in this article, my life might be placed in jeopardy.
- I will not stand idle as this Great Nation risks unimaginable suffering, especially when there are numerous ways for us to mitigate, or prevent that from happening altogether.
- In the end, as they move to rebuild their nation's finances, leaders around the world should follow the very wise advice of His Majesty King Jigme Khesar Namgyel Wangchuck of Bhutan, who has so prudently said, "I care less about the gross national product and more about the gross national happiness."

14 Oct 09

Meet the 'father of world currency'

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robert-mundell columbia-university USA economy finance IMF china russia SDR G-20 NWO end-time 666 mark federal-reserve obama dollar

Meet the 'father of world currency'
Robert Mundell masterminded China plan to destroy dollar
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- Posted: October 13, 2009
- By Jerome R. Corsi
  
  
  
  
  © 2009 WorldNetDaily
- A plan to replace the dollar with a world currency originated with Columbia University economics professor Robert Mundell, who won a Nobel Prize in economics in 1999 for creating the euro and is now widely regarded as "the father of the euro."
- Mundell, currently an economic consultant to China, is the originator of the suggestion that the International Monetary Fund should utilize Special Drawing Rights, or SDRs, to replace the dollar as a new standard for holding foreign exchange reserves in international trade transactions.
- Robert Mundel
- SDRs are international reserve assets calculated by the IMF in a basket of major currencies allocated to the IMF's 185 member nation-states in relation to the capital.
- The assets are largely in gold or widely accepted foreign currencies the members have on deposit with the IMF.
- As far back as June 2008, Mundell was telling Reuters a major dollar crisis would come within five years, and China was discussing with him proposals to reform the global monetary system.
- "There's no doubt about it that inside the Chinese government there's a lot of discussion going on," Mundell told Reuters. "I'm not sure how they're doing it, but I know they're going to get input from me."
- In the interview, Mundell went so far as to speculate the Chinese-recommended solution would involve the IMF.
- Aspiring to be the father of a global currency, Mundell has argued, "What you need to have is an International Monetary Fund that's going to take some of these excess dollars (such as held by China in foreign exchange reserves), put them into a substitution account inside the IMF or some other institution and then use that to create what is a new international currency."
- Mundell stressed to Reuters that such a proposal would be "very acceptable" to China.
- Optimum currency areas
- Mundell has argued for decades the proposition that nation-state currencies, including the dollar, need to give way to a new official world currency.
- According to Mundell, an "optimal currency area" is best defined by international free-trade areas and regional markets, not by nation-states such as the United States of America.
- Mundell's argument was that nation-states are not optimal currency areas because nation-state borders are artificial constraints imposed on the globe to create ethnic or historical divisions that do not necessarily represent how international markets operate.
- To understand the concept, Mundell cites former Federal Reserve Chairman Paul Volker's frequently quoted dictum, "A global economy needs a global currency."
- "The benefits from a world currency would be enormous," Mundell argues on his website.
- G20 votes to fund global currency
- The G20 summit meeting in London last week, through the International Monetary Fund, took an important step to create a new global currency to replace the dollar as the world's foreign exchange reserve currency of choice.
- Appearing on Sean Hannity's Fox News Channel television show, political consultant Dick Morris and Hannity agreed the decision by the G20 proved the "conspiracy theorists were right" and there is now clear evidence of a plan to create a one-world currency.
- Point 19 of the final communiqué from the G20 summit in London April 2 specified, "We have agreed to support a general SDR which will inject $250 billion into the world economy and increase global liquidity," taking the first steps forward to implement China's proposal that Special Drawing Rights at the IMF should be created as a foreign exchange currency to replace the dollar.
- "I think the dollar is now under question," billionaire investor and political activist George Soros told CNBC, commenting that the goal was to create an IMF currency to use in international trade.
- Obama deficits frighten China
- China is clearly worried its massive holdings of U.S. dollars are at risk of devaluation, with the Obama administration projecting trillion-dollar deficits into the foreseeable future.
- At the beginning of this year, China's holdings of U.S. Treasury securities jumped to $739 billion, up dramatically from $535 billion in June 2008.
- On March 17, the Moscow Times published an article revealing the Kremlin attended to use the April G20 meeting in London to push for the IMF to utilize SDRs as "a super-reserve currency widely accepted by the whole of the international community."
- Then, a few days later, on March 24, the Financial Times in London reported China's central bank governor Zhou Xiaochuan has proposed to utilize SDRs issued by the IMF as a world reserve currency.
- The coincidence of the two announcements gave the impression Moscow and Beijing had coordinated their efforts to undermine the dollar.
  - Gee..'ya think? - on 2009-10-14
  Add Sticky Note
- The G20 final communiqué gave the strong impression the meeting adopted China's proposal.
- China's proposal called for the IMF to issue at least $250 billion in SDRs to IMF-member states as a method of placing a safety net under developing countries that might otherwise have to declare bankruptcy.
- International overdraft
- As Red Alert previously reported, the proposal originally advanced by China and Russia would issue SDRs to central banks of IMF member states far in excess of any gold or currency reserves the member states have on deposit with the IMF.
- The idea is to utilize the little-understood and largely ignored SDR's in a new capacity, as a sort of an international overdraft facility made available to bankrupt or financially failing IMF members originated with Ted Turner, formerly a senior official at both the Federal Reserve and the U.S. Treasury.
- The IMF created SDRs in 1969 to support the Bretton Woods fixed–exchange-rate system.
- "The international supply of two key reserve assets – gold and the U.S. dollar – proved inadequate for supporting the expansion of world trade and financial development that was taking place," a a document on the IMF website explains.
- "Therefore, the international community decided to create a new international reserve asset under the auspices of the IMF."
- When the Bretton Woods fixed-rate system collapse, major world currencies, including the dollar, shifted to a floating exchange rate system where the price of the dollar and other major world currencies was created by trading on international currency exchanges.
- Until the current global economic crisis, SDRs issued by the IMF have been used by IMF members primarily as a reserve account to support international trade transactions, not as an alternative international currency available to settle international debt transactions in danger of default.

Dollar loses reserve status to yen & euro October 2009

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ben-bernanke chairman federal-reserve dollar USA yen euro manipulation interest-rates inflation recession NWO agenda lucifer's-elite america

Dollar loses reserve status to yen & euro
By PAUL THARP

Last Updated:
3:16 AM, October 13, 2009
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- Ben Bernanke's dollar crisis went into a wider mode yesterday as the greenback was shockingly upstaged by the euro and yen, both of which can lay claim to the world title as the currency favored by central banks as their reserve currency.
- Over the last three months, banks put 63 percent of their new cash into euros and yen -- not the greenbacks -- a nearly complete reversal of the dollar's onetime dominance for reserves,
- The dollar's share of new cash in the central banks was down to 37 percent -- compared with two-thirds a decade ago.
- Currently, dollars account for about 62 percent of the currency reserve at central banks -- the lowest on record, said the International Monetary Fund.
- Bernanke could go down in economic history as the man who killed the greenback on the operating table.
- After printing up trillions of new dollars and new bonds to stimulate the US economy, the Federal Reserve chief is now boxed into a corner battling two separate monsters that could devour the economy -- ravenous inflation on one hand, and a perilous recession on the other.
- "He's in a crisis worse than the meltdown ever was," said Peter Schiff, president of Euro Pacific Capital. "I fear that he could be the Fed chairman who brought down the whole thing."
- Investors and central banks are snubbing dollars because the greenback is kept too weak by zero interest rates and a flood of greenbacks in the global economy.
- They grumble that they've loaned the US record amounts to cover its mounting debt, but are getting paid back by a currency that's worth 10 percent less in the past three months alone. In a decade, it's down nearly one-third.
- Yesterday, the dollar had a mixed performance, falling slightly against the British pound to $1.5801 from $1.5846 Friday, but rising against the euro to $1.4779 from $1.4709 and against the yen to 89.85 yen from 89.78.
- Economists believe the market rebellion against the dollar will spread until Bernanke starts raising interest rates from around zero to the high single digits, and pulls back the flood of currency spewed from US printing presses.
- "That's a cure, but it's also going to stifle any US economic growth," said Schiff. "The economy is addicted to the cheap interest and liquidity."
- Economists warn that a jump in rates will clobber stocks and cripple the already stalled housing market.
- "Bernanke's other choice is to keep rates at zero, print even more money and sell more debt, but we'll see triple-digit inflation that could collapse the economy as we know it.
- "The stimulus is what's toxic -- we're poisoning ourselves and the global economy with it."

06 Oct 09

Asia Times Online :: Obama's Permanent Depression

Oct 6, 2009
Obama's permanent depression
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By Spengler
President Barack Obama may be remembered for permanent depression, the way that
Leon Trotsky's name is linked with permanent revolution.
Fiscal stimulus
combined with near-zero interest rates have proven to be a toxic cocktail for
the United States, the macroeconomic equivalent of barbiturates and alcohol.
Keynesian spending creates a deficit that sucks all the available capital out
of the grassroots economy and transfers it to the Treasury market.
Easy funding
terms from the Federal Reserve allow financial institutions to make money in
government bonds while shutting off credit to the rest of the economy.
It's
classic crowding out, in which the government's misguided effort to spend its
way out of recession pushes the productive economy deeper into the hole.
Panic is starting to take hold at the Obama White House over the
US jobs in September declined by
about 263,000 jobs, worse than the 175,000 drop expected by Wall Street
economists.
relentless deterioration of the job market.
To the 15.1 million on the official unemployment count, add 9.2
million "involuntary part-time workers" and 2.2 million who were dropped from
the tally because they had not sought work in the past month, and the
unemployment rate would rise to 17.1 million.
That doesn't include another three million long-term discouraged workers -
those who want to work but who have long since stopped looking. That would take
the number up to 20%.
In past recoveries, a number of economists observed, all
the job growth came from small business, but small business is lagging in the
present crisis.
The financial crisis crushed the entrepreneurs, as surely as
Joseph Stalin crushed the kulaks, the relatively affluent peasants.
Obama inherited a crisis, to be sure, but he has made it much worse.
America is
in the kind of trap into which Japan fell during the "lost decade" of the
1990s, whence it never really emerged.
In the Keynesian world of Larry Summers,
director of the White House's National Economic Council, and the Obama
economics team, the problem is that Americans save too much and spend too
little. To restart the economy, the government has to spend money for them -
hence the US$800 billion stimulus package.
There are two things terribly wrong with this notion.
The first is that it is
simply a matter of what John Maynard Keynes called the "marginal propensity to
consume". Americans have saved almost nothing during the past 10 years, relying
instead on home equity that now has vaporized.
The proportion of Americans over
60 will jump to 25% from 19% during the next 10 years, an unprecedented shift.
Americans must save to compensate for past profligacy, from a lower starting
point after the destruction of so much wealth, and with lower prospective
returns. The demand for savings is bottomless.
The second problem is that even if the government borrows money, the money has
to come from somewhere.
Right now it's coming from households who choose to
save rather than borrow, and from the balance sheet of the Federal Reserve or
the banks, as well as foreign investors.

A quick walk through the numbers puts the problem in context.
																	
																	Lenders to the US federal government, first half 2009.

																			All Federal borrowing

																				(annualized, in $US billions)																			$1,667.4																		
																			Households																			$709.4																		
																			Rest of the world																			$545.6																		
																			Fed balance sheet																			$368.1																		
																			Banks																			$44.3																		
																			Broker dealers																			$24.4

Obama's government borrowed $1.7 trillion at an annual rate, or about 12% of
gross domestic product (GDP). Households coughed up less than half of that as
they shifted from spending to savings.
Foreigners bought $545 billion, a bit
less than a third of the total. The Federal Reserve and the banks bought $400
billion worth, or about a quarter of the total.
Household purchases of Treasuries kept spending low and the economy
contracting.
Even with this massive shift, though, the central bank still had
to print money.

Most alarming is that the Federal Reserve's rate of purchase of 
																	Treasuries is accelerating:
																	
																	Federal Reserve monetization of government debt, 2009

																			Fed purchases of treasuries
																					
																				(annualized, in $US billions)																		
																			First quarter
																																						$88.9																		
																			Second quarter
																																						$647.4																		
																			Third quarter est
																																						$676.1

The rest of the world doesn't want an additional half-trillion dollars worth of
Treasury securities each year; it doesn't want the Treasuries it now has to
own.
Households can't continue to put a trillion dollars worth of Treasuries
away per year - that's 8% of all personal income.
That leaves the Fed and the banking system.
The central bank bought Treasuries
during the third quarter at an annual rate of nearly $700 billion, and provided
nearly zero-interest money to banks and broker-dealers, who bought a good deal
more.
The Fed is buying much more than Treasury securities, to be sure; during
2009, it bought a remarkable $700 billion of mortgage-backed securities in a
fruitless attempt to stimulate the housing market.
Despite the unprecedented largesse of the Federal Reserve, banks are reducing
risk and cutting off the small-business sector in particular.
During the third
quarter, US commercial banks added Treasury securities to their balance sheets
at a $350 billion annual rate.
But they cut loans to business at a $300 billion
annual rate. Extremely cheap funding makes it possible for a bank to finance
the purchase of a two-year Treasury note paying 0.86%, or a two-year AAA
municipal note yielding 0.75%, with overnight money costing 0.25%.
Cheap money
turns the commercial banks into an extension of the balance sheet of the
Federal Reserve.
The near-zero interest rate allows banks to shift their balance sheets towards
nearly riskless assets, and reduce risky commercial and industrial loans.
Cheap money has crushed the dollar, and the sinking dollar has buoyed equity
prices, perversely enough.
American assets are cheaper to foreign investors, and as the dollar fell
against other major currencies, foreign investors bought more American stocks:
In short, the rise in US stock prices has less to do with economic recovery
than with the drop in the global price of American assets. The dollar can only
fall so far, however, because other currencies can only rise so far before a
rising currency parity damages competitiveness. This game seems to be played
out for the moment.
This outcome was perfectly foreseeable a year ago; in fact, I forecast just
this result last November (see
Who will finance America's deficit?, Asia Times Online, November 13,
2008).
The parallels between America in 2009 and Japan
in 1989 are uncanny.
An asset price bubble has collapsed, just before a tsunami
of prospective retirements that the asset bubble was supposed to fund.
Demand
for savings is bottomless, and the government satisfies demands for savings by
running a huge deficit and issuing debt.
The crippled banking system borrows at
an interest rate of zero and buys government securities. And the economy
shrivels up and dies.
Japan, though, had one advantage: it knew how to export.
There is only one way
to drastically increase savings while maintaining full employment, and that is
to export.
America has neither the export capacity nor the customers. It could
get them, but that is a different story.
Francesco Sisci and I told it here
US's road to recovery runs through Beijing (Asia Times Online, November
15, 2008).
Spengler is channeled by David P Goldman, Associate Editor of First
Things.

(Copyright 2009 Asia Times Online (Holdings) Ltd. All rights reserved. Please
contact us about
sales, syndication and
republishing.)

27 Feb 09

YouTube - Ron Paul's opening statement 2009.02.25

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Ron Paul's opening statement 2009.02.25
2 more annotations...
- peacespeech
  
  February 25, 2009
- Ron Paul opening's statement before Ben Bernanke testimony before House Financial Services Committee on 2009.02.25

26 Feb 09

Devvy Kidd -- Ten square miles of criminal enterprise

www.newswithviews.com/...kidd433.htm - Preview

us-government devvy-kidd obama fraud republicans democrats bailouts americans washington-dc stimulus-bill liars politicians irs economy usa federal-reserve

We are being held hostage with the gun of government to our heads to
fund the final destruction of capitalism, freedom and liberty.
We
the people are being held hostage with the gun of totalitarian government
to fund the continuation of the unconstitutional, immoral invasions
of Iraq and Afghanistan based on lies and manipulation.
98 more annotations...
- To fund organizations
  who conduct massive vote fraud (ACORN), filth in the Arts and schools
  and more killing of unborn babies.
- Fund the furtherance of one world
  government as the impostor president is openly shoving communism down
  our throats with the approval from most members of Congress.
- The
  whimpering Republicans who are now "reinventing themselves"
  did NOTHING to correct the abuses by Marxist Bill Clinton and shoved
  a good dose of Fascism down our throats.
- Now they're objecting to more
  of the same they heaped upon us in big spending and draconian legislation
  from 1995 - 2007?
- Republican turn coats ("leaders") are actually
  embracing
  nationalization of private banks. That alone should tell GOP faithful
  where these poltroons stand on free markets.
- When
  the usurper president, Barack Hussein Obama aka Barry Soetoro aka and
  so forth announced you and I will be required to bail out toxic mortgages
  to save home owners facing or in foreclosure, I was surprised anyone
  was surprised.
- Didn't Marxist Obama tell you during the rigged election
  that he was going to redistribute
  the wealth:
  
  "Conservatives
  yesterday ripped Obama after he was caught on video telling an Ohio
  plumber that he intends to take the profits of small-business owners
  and "spread the wealth around" to those with lesser incomes."
- The
  impostor president has also proclaimed in yet another "fix it"
  plan for the economy: Tax businesses and tax the wealthy. In order to
  buy such warped thinking, one must check their brain at the door next
  to Obama's empty head.
- The wealthy create jobs. To single them out for
  "extra" taxes is to punish success and violate the U.S. Constitution
  for apportioned taxation (See A
  Pioneer on the Withholding Issue about half way down).
- Piling
  heavier taxes on businesses to sell the illusion of "stimulating
  the economy," is somewhere between lunacy and utter stupidity that
  won't save or create a single job.
- The massive number of pink slips
  falling all across the country continues to build: 600,000 more jobs
  were lost last month bringing the total (as near as one can tell with
  all the lies and cooking the books in DC) to 3.2 million jobs lost in
  13 months.
- States,
  due to gross mismanagement, can't pay tens of thousands of unemployment
  claims as jobs disappear and revenues shrink.
- The gang rape bill will
  force you and me with a gun to our heads to fund state deficits by stealing
  the fruits of our labor.
- California
  is run by a communist state legislature (Democrats) and has been for
  years.
- The Republican leadership in California said a fiscal conservative
  like Sen. Tom McClintock "couldn't win." He didn't have name
  recognition.
- Those cretins shoved an immoral pig down the throats of
  their party faithful and Arnie, the grossly unqualified "movie
  star," moved into the governor's mansion and has rubber stamped
  the collapse of that state from day one.
- Now that California is near
  utter bankruptcy, Comrade Obama, with approval from Congress, will force
  you, me and our children to fund their mess.
- How far will California's
  $14 BILLION dollar tax increase go when they're funding almost $10 BILLION
  a year to feed, clothe, educate and incarcerate almost 8 million illegal
  aliens? Think about that good citizens of California.
- These
  states who have blown their tax revenues out their backsides now demand
  "stimulus" money from your pocket.
- You are already fleeced
  by the federal machine to pay for the unconstitutional Federal Department
  of Education to waste HUNDREDS OF BILLIONS OF DOLLARS to dumb down America's
  children and socially indoctrinate them with immoral agendas. Now, the
  states want more from an empty treasury to prop them up to pay for education,
  reward the criminals (illegal aliens) sucking resources and the list
  goes on and on.
- I live in Texas. It is NOT my responsibility to pay
  for the mistakes of South Carolina, Alaska or California's state legislatures.
- Remember
  Obama's proclamations about how many jobs he will create (amazing considering
  the president of these united States of America has ZERO authority to
  create a single job):
- Tax cuts with a deficit cut
  in half by 2013? All hocus pocus without any basis in reality.
- Bald
  faced lies because the numbers don't lie.
- The impostor
  president wants to put a gun to your head (IRS) to pay someone else's
  mortgage; some 7 - 9 MILLION of them while you have trouble paying your
  own on time.
- More of Obama's communist (progressive) ideology, which
  has enraged people all across this country.
- Santelli's
  rousting call for a new Tea Party is resounding border to border,
  coast to coast - except with those who believe they have the
  right to steal from your paycheck.
- Don't feed me the rubbish
  about "the common good." That is pure communist ideology.
- Last
  year 2.8 million homes went into foreclosure. If the numbers (7-9 million)
  are accurate, the situation is even more dire than we thought.
- Comrade
  Obama is talking $75 BILLION to bail out homeowners by stealing the
  fruits of your labor with money that does not exist. The treasury is
  overdrawn almost $11 TRILLION dollars right now. How do you write another
  hot check for $75 BILLION dollars when your checkbook is already overdrawn
  by $11 TRILLION dollars?
- Change, Comrade Obama? Here's more change -
  $20.3 MILLION dollars that does not exist:
- Presidential
  Determination No. 2009-15 of January 27, 2009: 'Unexpected Urgent
  Refugee and Migration Needs Related To Gaza.'
- Important
  to "the national interest" to rob and steal from you, me and
  our children to fund this grand larceny with more hot checks?
- Not
  only does the U.S. Constitution NOT authorize this looting of the people's
  purse, but as Obama is an usurper president, this PD has NO effect or
  force of law.
- That $20.3 MILLION bux will have to be borrowed from the
  central bank (FED) with the interest slapped on the backs of you, me,
  our children and grand children.
- Obama
  is not only a pathological narcissist, but a masterful liar and since
  not one member of the media at his press conference questioned the origin
  of those numbers of foreclosures expected, we really don't know.
- Remember
  during the so called "bail out" crisis last September what
  a treasury spokeswoman who should have been fired said
  about the $700 billion dollar bail out: "It's not based on
  any particular data point. We just wanted to choose a really large number."
  They made it up to be sufficiently enormous to frighten everyone into
  rapid action. And it worked."
- What
  will never work is more bailouts or "stimulus" nonsense stealing
  the fruits of your labor, mine, our children and grand children to prop
  up what is imploding and cannot be stopped.
- The gang rape bill passed by Congress and
  these new proposals by an usurper president represents no change, just
  the continuation of the march towards complete collapse. The suffering
  by our fellow Americans is in its infancy with the worst yet to come.
- Marxist
  Hillary Clinton is parading around Asia begging our mortal enemy,
  the COMMUNIST Chinese to keep buying our debt.
- This morally bankrupt
  female (who should have been indicted for a dozen crimes over the years)
  has made it quite clear: Human rights do not matter.
- It's okay with
  her the commies force the murder of unborn babies in China right up
  to nine months; their totalitarian government murders their own people
  to quell dissent.
- They use slave labor for that silk blouse or NBA basketball
  star endorsed tennis shoes and their "businessmen"
  skin dogs and cats alive.
- The fur from these screaming little animals
  is woven into doll's clothes, sweaters and parkas and sold to you in
  violation of our laws. Not a problem for Clinton who serves as Secretary
  of State illegally.
- China isn't our trading partner, they're the master.
  China holds America by the throat because they hold our debt and Clinton
  is begging them to buy more so Congress and Marxist Obama can continue
  looting the people's treasury to fund our own destruction.
- While
  Clinton is sucking up to these monsters, these are the same commies
  who celebrate a bloodied America on 9/11. Do NOT ever forget that Communist
  China celebrated the attacks of 9/11:
  
  Beijing
  Produces Videos Glorifying Terrorist Attacks on 'Arrogant' US
  
  News Telegraph, November 3, 2001
- "The
  Chinese state-run propaganda machine is cashing in on the terror attacks
  in New York and Washington, producing books, films and video games glorifying
  the strikes as a humbling blow against an arrogant nation.
- Communist
  Party officials say President Jiang Zemin has obsessively watched and
  re-watched pictures of the aircraft crashing into the World Trade Center.
  In the immediate aftermath of the attacks, workers at Beijing Television
  worked round-the-clock to produce a documentary they called Attack America.
- "As
  rescue workers pick through the rubble of the twin towers, the commentator
  proclaims that the city had reaped the consequences of decades of American
  bullying of weaker nations. He said: "This is the America the whole
  world has wanted to see. Blood debts have been repaid in blood. America
  has bombed other countries and used its hegemony to deny the natural
  rights of others without paying the price. Who until now has dared to
  avenge the hurts inflicted by unaccountable Americans."
- Judicial
  Watch has filed a lawsuit to get Clinton removed from office and
  we should all pray for their success.
- We
  the people are under attack by every alphabet soup agency in this country.
- Our food supply is being endangered and our family farmers and ranchers
  are being killed off in favor of genetically modified foods and big
  agri corporations.
- Americans must put aside "fun time" to
  fight.
- Remember
  how everyone laughed when experts tried to warn about cell phones and
  the link to cancer and brain tumors? It's no joke anymore as we now
  know.
- Congress unconstitutionally robbed the people's purse to fund
  converter boxes for the HDTV conversion. $1.34 BILLION dollars from
  an empty treasury to make sure people can get their daily dose of propaganda.
- Now experts are warning about adverse health effects from digital broadcasting;
  click
  here. Take the time to read that material.
- AND:
  Did you know that spying cameras have been found inside these converter
  boxes being sold to you? See
  video here. (Note: Some people believe this video to be a hoax.
  Others believe the camera set up is possible, but can't say for sure.
  If you purchase one of these boxes and look inside, please send me an
  email and let me know what you find.)
- I
  am still combing through the gang rape bill ("American Recovery
  and Reinvestment Act"). This is the same policy making
  blunders FDR used which prolonged the depression.
- This gigantic fraud contains a provision
  for doctors to enter your medical records into a giant electronic government
  data base at a cost of $10 - 12 BILLION dollars.
- Not mine. As soon as
  I find the exact language in the bill, I'm sending my primary care physician
  and the neurosurgeons who operated on my spine, notification that I
  forbid my medical records from being electronically entered into any
  government data bank. If this is mandatory, I intend to sue to stop
  it.
- The hell I'm going to have my personal information available for
  computer hackers (yes, they have hacked into the Pentagon and other
  "secure" computers) or for any government bureau-rat to take
  a peek.
- Tenth
  Amendment resolutions by the states or "reclaiming sovereignty."
  Yes, this is great, but there is no teeth behind these resolutions.
- They are just more pretty words on a piece of paper. How many of these
  states who have proclaimed sovereignty are taking "stimulus"
  package money?
- How will they bite the hand that feeds them? Hmm? For
  those who might not know, there was a small movement like this back
  in the mid-90s and nothing ever came of it because the state legislatures
  always ended up caving into the federal machine for money.
- Honest
  money bills have been introduced in several states. These must get
  passed and only a massive demand by the citizens of those states will
  get their the job done.
- Congressman
  Ron Paul has reintroduced his bill to abolish the privately owned Federal
  Reserve.
- While some think the effort to abolish the FED only materialized
  during Ron Paul's run for the presidency last year, I can assure you,
  this has been a top priority for a long time.
- On September 29, 1993,
  my project delivered over 1.7 MILLION signatures to Congress to abolish
  the FED and it's evil twin, the IRS.
- Ron Paul's original bill, H.R.
  2755 was introduced in June, 2007. Not a single cosponsor.
- His
  new bill is H.R. 833. It also has no cosponsors. That alone should
  tell you that Congress has no intention of implementing real solutions
  to our economic collapse.
- Do
  NOT be fooled with the current
  bill in Congress to replace the IRS with a "fair" tax.
  This is another trap that must be rejected.
- Shame on these fools for
  introducing and sponsoring such poison. These alternative taxing schemes
  have been around since the late 50s. They are band aids that will keep
  the FED sucking the lifeblood of this country dry.
- I am a board member
  for the Committees
  of Safety.
- How
  can one fight so many different issues at once?
- Our top issues: Honest money, securing our food supplies,
  protecting open commerce, vote fraud, constitutional homeland security
  and property rights.
- Numbers build power and all politics are local.
  Get involved.
- The police cannot protect you or your family. They arrive
  after the crime and crime will get worse as the middle class slides
  into poverty and the poor into destitution and homeless status:
- Tommy
  Cryer's organization, Truth Attack, is focused on the fraud being perpetrated
  by the IRS. That organization continues to grow and YOU can get involved.
- How bad do you want to see the IRS abolished? It will only happen when
  enough Americans get the truth and bury Congress in their own lies.
- The
  gold rush continues as investors see disaster continue in the markets.
  I'm not a gold dealer. I don't sell precious metals.
- Baby boomers are seeing everything
  they've worked for going down the drain and are helpless to save their
  retirement funds [401(k)s] from being wiped out.
- Getting your money
  early gets you massive penalties by the Internal Robbing Service set
  into law by the "caring" Republicans and Democrats
  who toss around clever marketing jingo like 'Main Street not Wall Street.'
- Americans need to understand one thing: The glory days are over, period.
  The world's richest elite and those who fully understand the situation
  are buying gold like hot cakes.
- hyper inflation is
  going to eat your "dollar" in the near future and it will
  take years, if not a full decade to bring things back around to something
  akin to restoring financial solvency.
- I
  won't have a column on Thursday. I'm preparing my package for the U.S.
  Attorney in Austin, Texas, and four of my state legislators; will hand
  deliver them later this week. This requires days, not hours, putting
  together all the material. It's also a six hour drive each way from
  my home to the State Capitol.
- The package for the U.S. Attorney is on
  the impostor president, Obama. I want him investigated and indicted
  for wire fraud.
- The packages for my state legislators is on the sovereignty
  bill recently introduced here in Texas. Next week I will make the complete
  packages and all paper work available on line.
- My
  mail box continues to fill up with requests for investigations and "Please
  cover this, Devvy." This is why I decided to do my own radio show.
  There simply is no way I can handle more an average of 20,000 emails
  per month.
- I'm booking guests and going over the assault on our republic
  and rights every night. I hope you will tune in to get the truth and
  facts as I cannot cover it all in two columns a week.
- Please do ask
  family, friends and colleagues to listen because my show is not about
  politics, it's about solutions. Identify your enemy, expose them and
  fight effectively. Not with political band aids, but with the very constitutional
  solutions that are already there.
- My
  guest tonight is constitutional attorney, Larry Becraft. We are going
  to cover all these scams being promoted by shysters getting Americans
  into deep trouble. You don't want to miss this show.
- On
  live radio: Solutions Not Politics
  
  Monday-Friday
  
  6:00 pm PST, 8:00 pm CST and 9:00 pm EST
  
  Listen
  live:
- Congress
  is killing jobs:
- 14
  - Motorsports
  industry blasted by new fed rule
- 15 - Renegotiating
  NAFTA on hold, Obama says. Another broken campaign promise by The
  One. That destructive treaty has cost MILLIONS of good paying jobs.
  Remember: Big boy, Rush Limbaugh pushed for NAFTA. He still has his
  hundred million dollar contract for his show.
- Nationalization
  of private banks is poison. That's why Andrew Jackson waged war and
  won. Here
  is history.
- Rep.
  Conyers, sponsor of this nonsense: H.R.
  40: Commission to Study Reparation Proposals for African-Americans
  Act. His
  wife is under investigation for being a alleged crook.
- Devvy
  Kidd authored the booklets, Why
  A Bankrupt America and Blind Loyalty;
  2 million copies sold. Devvy appears on radio shows all over the country,
  ran for Congress and is a highly sought after public speaker. Devvy belongs
  to no organization.
  
  She left the Republican
  Party in 1996 and has been an independent voter ever since. Devvy isn't
  left, right or in the middle; she is a constitutionalist who believes
  in the supreme law of the land, not some political party. Her web site
  (www.devvy.com) contains a tremendous
  amount of information, solutions and a vast Reading Room.
  
  Devvy's website: www.devvy.com
  
  Before
  you send Devvy e-mail, please take the time to check the FAQ section on
  her web site. It is filled with answers
  to frequently asked questions and links to reliable research sources.
  
  E-mail is: devvyk@earthlink.net

24 Feb 09

YouTube - The US Collapse Of 2009 - This Will Blow Your Mind......

www.youtube.com/watch - Preview

glenn-beck usa economy bailouts federal-reserve us-government fox-news video

The US Collapse Of 2009 - This Will Blow Your Mind......
3 more annotations...
- buencaminos
  
  January 30, 2009
- LoudStudios
- you had your chance to tell the truth for years Glen..... f you, f your new show, f fox news and f the pagan cult you belong to!

The Money Masters - How International Bankers Gained Control of America

video.google.com/videoplay - Preview

google-video central-bankers money-masters global nwo bankers global-governance usa federal-reserve debt nations america europe national-debt us-government jewish-influence

The Money Masters - How International Bankers Gained Control of America
8 more annotations...
- Mar 27, 2007
- With the formation of the privately-owned Bank of England in 1694, the yoke of economic slavery to a privately-owned "central" bank was first forced upon the backs of an entire nation, not removed but only made heavier with the passing of the three centuries to our day.
- Their secret is that they have annexed from governments, monarchies, and republics the power to create the world's money..
- Nation after nation, including America, has fallen prey to this cabal of international central bankers.
- The development of fractional reserve banking practices in the 17th century brought to a cunning sophistication the secret techniques initially used by goldsmiths fraudulently to accumulate wealth.
- Also watch FIREWALL: (http://newsbrowser.org/firewall/)
  "The powers of financial capitalism had a far-reaching plan, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole..
- "
  THE MONEY MASTERS is a 3 1/2 hour non-fiction, historical documentary that traces the origins of the political power structure that rules our nation and the world today.
- The modern political power structure has its roots in the hidden manipulation and accumulation of gold and other forms of money.

12 Jan 09

YouTube - Secrets of the Federal Reserve Pt 4: Usery/Money Changers

Part 4

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eustace-mullins rothschilds federal-reserve irs nwo elite international-bankers illuminati patriots usa usury money-lenders

Secrets of the Federal Reserve Pt 4: Usery/Money Changers
2 more annotations...
- RestoreAmericaProj
  
  May 02, 2008
- Jesus overturned the temple tables of the money changers...see how usery is still being practiced by the evil central banks.

YouTube - Secrets of the Federal Reserve Pt 3: Fractional Reserve

Part 13

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federal-reserve irs internal-revenue usa nwo satanic illuminati america woodrow-wilson international-bankers tax-payers patriots

Secrets of the Federal Reserve Pt 3: Fractional Reserve
2 more annotations...
- RestoreAmericaProj
  
  April 30, 2008
- The Secrets of the Federal Reserve uncover how the central banks are enslaving the American people through debt.

YouTube - Secrets of the Federal Reserve Pt 2: Satan's Conspiracy

Part 2

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federal-reserve 1913 satan stanic-conspiracy patriots christians spiritual-warfare obama congress bailouts bankers us-government illuminati

Secrets of the Federal Reserve Pt 2: Satan's Conspiracy
2 more annotations...
- RestoreAmericaProj
  
  April 30, 2008
- The Federal Reserve is a conspiracy but the power and authority come not from above but from evil satanic forces.

YouTube - Secrets of the Federal Reserve Pt 1: Global Rulers

Part 1

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usa federal-reserve bailout america bankers patriots bear-sterns socialism nwo world-government taxes elite restore-america

Secrets of the Federal Reserve Pt 1: Global Rulers
2 more annotations...
- RestoreAmericaProj
  
  April 29, 2008
- The Secrets of the Federal Reserve with Eustace Mullins uncovers how the elite are trying to control the world; we must put an end to their evil plans and restore America to the godly nation it once was.

YouTube - Part 2 Eustace Mullins talks about the New World Order

Part 2

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american-revolution great-britain bank-of-england hessians king-george nwo bankers federal-reserve eustice-mullins rothschilds

Part 2 Eustace Mullins talks about the New World Order
2 more annotations...
- Subscribe
  
  Unsubscribe
  
  EustaceMullinsNWO
  
  September 18, 2008
- Part 2 Eustace Mullins talks about the New World Order

YouTube - Part 1 Eustace Mullins talks about the New World Order

Part 1

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eustice-mullins great-britain britain america nwo conspiracy ezra-pound bank-of-england american-banks federal-reserve

Part 1 Eustace Mullins talks about the New World Order
10 more annotations...
- Part 1 Eustace Mullins talks about the New World Order
- EustaceMullinsNWO
  
  September 18, 2008
- Eustace Mullins (born 1923) is an American political writer, author, biographer, and the last surviving protege of the 20th century intellectual and writer, Ezra Pound. As of 2005, Eustace Mullins is a member of the Southeast Bureau editorial staff of far-right Willis Carto's American Free Press. He is also a contributing editor to the Barnes Review.
  Contents
- Biography
  
  Eustace Clarence Mullins, Jr. was born in Roanoke, Virginia, the third child of Eustace Clarence Mullins (1899-1961) and his wife Jane Katherine Muse (1897-1971). His father was a salesman in a retail clothing store.
- Education
  
  Eustace Mullins was educated at Washington and Lee University, New York University, the University of North Dakota and the Institute of Contemporary Arts (Washington, D.C.)
- WWII
  
  In December 1942, at Charlottesville, Virginia he enlisted in the military as a Warrant Officer. He is also a veteran of the United States Air Force, with thirty-eight months active service during World War II.
- Ezra Pound
  
  Mullins was a student of the poet and political activist Ezra Pound. He states that he frequently visited Pound during his period of incarceration in St. Elizabeth's Hospital for the Mentally Ill in Washington, D.C. between 1946 and 1959. Mullins claimed that Pound was, in fact, being held as a political prisoner on the behest of President Franklin D. Roosevelt.
- Mullins' most notable work, Secrets of the Federal Reserve, was commissioned by Pound during this period, and written in consultation with George Stimpson, founder of the National Press Club[1] Mullins claims that at the time he was writing his first book, he was on the staff of the Library of Congress, but that shortly after it came out in 1952, he was fired. This is repeated by Boller and George (They Never Said It: A Book of Fake Quotes, Misquotes, and Misleading Attributions, by Paul F. Boller, Jr. and John George, published by Oxford University Press (1989), p. 15. The word "discharged" is used, rather than fired.)
- By 1995, Eustace was writing for Criminal Politics: "A good example of these other paths is Criminal Politics, where Lawrence Patterson and his cohorts, including Eustace Mullins and Fletcher Prouty, scour the world for evidence of conspiracies within the world's power structure." (Danky, Jim, and John Cherney. "An outpouring of right-wing publications cover all social issues". St. Louis Journalism Review 25.n179 (Sept 1995): 27(1). InfoTrac OneFile. Thomson Gale.) "Eustace Mullins, who was a researcher at the Library of Congress in 1950 when McCarthy asked him to look into who was financing the Communist Party, was the keynote speaker at a dinner Sunday evening sponsored by the Sen. Joseph McCarthy Educational Foundation. "I've come to believe in recent years that he started to turn the tide against world communism," said Mullins." (The Capital Times, Madison, WI, May 21, 2001, p. 3A. Full Text Newspapers. Thomson Gale)[2]
- Writings
  
  In Secrets of the Federal Reserve (1952), Mullins highlighted a purported conspiracy among Paul Warburg, Edward Mandell House, Woodrow Wilson, J.P. Morgan, Charles Norris, Benjamin Strong, Otto Kahn, the Rockefeller family, the Rothschild family, and other European and American bankers which resulted in the founding of a privately owned, US central bank.

06 Oct 08

Tomorrow The Coup?

www.rense.com/...feddds.htm - Preview

george-bush coup america us-government bailout looting tyrants wall-street congress senate paulson federal-reserve tax-payers fascists nwo

Tomorrow The Coup?
Jim Kirwan

10-6-8
47 more annotations...
- Tomorrow, October 7, will mark the end of our first week
  into the Coup that officially began on the first day of this month. This
  coup actually slipped out from behind the curtain way back in September
  of 2002 when Congress officially gave this 'License to Kill' to the president
  of the United States!
- "Since this man came to office the congress of the
  United States has failed in its duties to the public you are sworn to
  serve and to the Constitution you have sworn to uphold.
- In instance after instance you have entertained and passed
  a steady stream of un-American laws and resolutions that are squarely
  aimed at undermining the Constitutional provisions of the Bill of Rights
  and many of the Amendments to the Constitution, which are matters of
  existing law." (1)
- What has happened since has shattered any and all ideas
  of what the United States may have once been, as well as what options
  might remain, "going forward;"
- because under the terms of this
  Coup "illegality" has been made legal.
  - Lawlessness and criminality on the part of officials of the U.S. Government - on 2008-10-06
  Add Sticky Note
- What this has done is
  to include the citizens of theUnited States in those 'states or nations'
  (above) that could be seen as enemies of this Coup!
  - Government targeting the American people - on 2008-10-06
  Add Sticky Note
- Naomi Wolf has a thirty minute video, just out today,
  that summarizes much of what has happened, as well as what we can do to
  begin to turn all this around.
- She says in part: 'military law suspends
  civilian law, so we must get our local city councils to reject the Homeland
  Security money that is being offered to train local police to make war
  against US citizens
- Homeland Security is funneling money to communities
  in advance, to pay off the lawsuits that will come from the actions of
  these coup agents. (This happened in both cities where recent conventions
  were held).
  - Local community officials being bought off.. - on 2008-10-06
  Add Sticky Note
- This was made possible by the 2007 Defense Authorization Act
  which made it legal for the president to direct troops to make war against
  American citizens.' It was one thing for soldiers to disobey illegal orders
  in his wars, but this action makes the illegal orders of this president
  'legal'!
- 'Those in government that are complicit in this Coup
  must be held responsible and their leaders arrested. There are District
  Attorney's (Vincent Bugliosi & others) that want to do this now.'
  - Arrest the coup members; their aiders and abetters and those complicit in the raising of tyranny over the American people..: then indict, prosecute and sentence them all - on 2008-10-06
  Add Sticky Note
- 'Before the Revolutionary War, George the Third, the
  English King sent mercenary troops to occupy and police American streets;
  doing the same thing that Bush just created by authorizing three to four
  thousand troops to police the actions of American citizens, (in America).'
- 'We must stand against tyranny and oppression, because
  our right to freedom is a universal right: "When a tyrant looms,
  the structures of tyranny loom," and we have to do everything to
  oppose that tyranny!
- You are not "entitled" to speak freely;
  you are obliged to speak freely!
  - Obligation to speak freely; not entitled - on 2008-10-06
  Add Sticky Note
- You have to act as an American and Speak
  Freely! We must see this Coup for what it is and rise up against it.'
- When the War on Terror began, the first casualty was
  the designed loss of our inner-freedoms.
- This is what was really attacked
  on 911, and it is something that has continued to lose ground ever since
  that black day.
- 'We were free because of our practice of the rule of law.'
  Now that Rule of Law has been perverted and on many occasions shattered;
  we must rise up now and take back 'the laws' that were part of our former
  Republic.
- Naomi Wolf continues: "America has no established
  god" and this is so important because these people are (now) seizing
  power in the name of Theocracy.
- They are using (religious) faith as a
  mobilizing tool, Sarah Palin would extend this.
- {The tax-exempt status
  of the churches needs to be re-examined, because that status is granted
  only if those churches are not political}
  - Removing the tax exempt status of the Churches? - on 2008-10-06
  Add Sticky Note
- The founders wanted to insure
  that ours was a country of religious freedom, where people were free in
  their conscience (to decide for themselves about their beliefs), because
  they knew what happens when religious minorities are prosecuted by the
  state.' So, (according to the first Amendment), Americaestablishes 'No
  god.'
- 'The idea of America is that freedom is a universal human
  right so we must divest ourselves from this empire and become a
  Republic once again.'
- All of this begins psychologically (as a thought-form)
  that we must take into our hearts-and each of us is called upon to stand
  up for freedom!'
- 'The good news is that historically when millions of
  people have risen up in time, they can together move aggressively to arrest
  those responsible and most of the Cabal.
- You have to get warrants, get
  their computers, and you have to declare what has taken place. Once these
  people are charged they will back-off and begin to turn on one-another.
  The time to act is now!' (2)
- However there is another entire dimension to this takeover,
  which is the very public yet still very secret, seizure of financial and
  monetary powers of the nation and by extension the world.
- In case you
  missed it we have surrendered our control over the purse strings of this
  country to a bunch of self-interested and self- appointed members of the
  Cabal.
  - The NWO banner carriers of the Illuminati - on 2008-10-06
  Add Sticky Note
- Without control over the printing of our own money, which we lost
  with the establishment of the Federal Reserve Bank: we are little more
  than vassals to the owners of the twelve privately owned Central Banks.
- To that criminal act we must now add the surrender of control over how
  this fiat money of ours shall be spent-by whom and for what-without knowing
  how much this will cost, or even IF this process will even begin to solve
  the problems created by the same people that are now administering the
  law that was passed last Friday!
- To probe these various financial and fascistic shadows
  behind this latest outrage: Naomi Klein has an extensive interview today
  on Democracy Now.
- "NAOMI KLEIN: When Milton Friedman turned ninety,
  the Bush White House held a birthday party for him to honor him, to honor
  his legacy, in 2002, and everyone made speeches, including George Bush,
  but there was a really good speech that was given by Donald Rumsfeld.
  I have it on my website. My favorite quote in that speech from Rumsfeld
  is this: he said, "Milton is the embodiment of the truth that ideas
  have consequences."
- So, what I want to argue here is that, among other things,
  the economic chaos that we're seeing right now on Wall Street and on
  Main Street and in Washington stems from many factors, of course, but
  among them are the ideas of Milton Friedman and many of his colleagues
  and students from this school. Ideas have consequences."
- This Coup that is only six days old is a very through
  entrapment by traitors that was designed to so completely crush America
  and Americans in order to prevent us from ever taking back this nation.
  - The move by Paulson and Bush and...the Senators and Congressmen who voted "YES" for the bailout, was and is an attack on every American citizen! - on 2008-10-06
  Add Sticky Note
- This is so important to them; because they know that America is the one
  nation that actually had the capacity to shut them down and lock-them-up.
- Last night on 60 minutes, the real cause behind the most
  recent collapse was also unveiled, in a story called "Wall Street's
  Shadow Market" This is the story of a $60 TRILLION dollar fiasco
  that sought to make gold-plated investments our of those totally bogus
  mortgages; which the Slush-Fund was passed to bailout.
- This failure is
  described as 'A full blown financial storm'
  
  in the 60 minutes story: but how far do you think $850
  Billion will go toward solving the reality of a $60 Trillion dollar problem!
  (4)
- This Coup was created to take-back everything that Americans
  once stopped the ancestors of this Coup from obtaining, back in 1933,
  when FDR stopped them from profiting by the first version of this obscenity!
  - FDR and 1933 - on 2008-10-06
  Add Sticky Note
- If we could take back the power of printing and controlling our own money
  (like every other self-respecting nation has tried to do): then most of
  this could never have happened in the first place.
- We need to come out
  from under our beds and get this together people or we really will
  be nothing but slaves to these tyrants and traitors that dreamed this
  nightmare into existence - on the backs of every one of us - who is not
  one of them!
- It's way past-time, but if we get serious it might still
  not be too late!
  
  kirwanstudios@sbcglobal.net
- 1) Open letter to Congress September 2002
  
  http://www.kirwanesque.com/politics/articles/2002/art0.htm
- 2) Interview Naomi Wolf Give Me Liberty 30 min.
  video
  
  http://www.youtube.com/watch?v=_XgkeTanCGI
- Rep. Brad Sherman
  
  http://www.youtube.com/watch?v=HFstmclOQG8
- The Warrior Creed Robert Fisk 3 minute Video
  
  http://www.tewahanui.info/wordpress2/?p=761
- 3) Naomi Klein Democracy Now
  
  http://www.democracynow.org/2008/10/6/naomi_kle in
- 4) Wall Street's Shadow Market
  
  http://www.cbsnews.com/video/watch/?id=4502673n

03 Oct 08

Andrew C. Wallace -- Avoid Civil War, Vote Out Political Criminals

www.newswithviews.com/...andrew14.htm - Preview

civil-war unrest america congress senate federal-reserve citizens bailout grand-theft wall-street george-bush criminals traitors us-government-vs-people

AVOID
CIVIL WAR, VOTE OUT POLITICAL CRIMINALS
By
Andrew C. Wallace

October 3, 2008

NewsWithViews.com
33 more annotations...
- “For
  the first time in my adult life I am proud of my country”-men
  for becoming a little aware of how badly they are being manipulated.
- Officials in government, corporations and media, along with illegals,
  who caused this destruction, should plan on running for their very lives.
- Government officials who refuse to comply with the Constitution and
  desires of the People have no legitimate power, they are Criminals,
  Rogues, Usurpers and Traitors.
  - True! - on 2008-10-03
  Add Sticky Note
- It
  is now urgent that we vote politicians out of office who ignore demands
  of more than 75% to 90% of the people by unconstitutionally giving hundreds
  of billions of dollars to their corporate paymasters as follows:
- 1.
  Unconstitutionally allowing illegals to invade and remain for corporate
  profits, but at great cost to Americans in lost jobs, blood and treasure.
- 2.
  Unconstitutionally voting for so called Free Trade deals like NAFTA
  to eliminate American jobs for corporate profits.
- 3.
  Voting for 10 visa and other immigration programs to replace American
  workers.
- 4.
  Now voting for a 700 billion dollar bailout for both foreign and domestic
  corporations responsible for the meltdown. This is in addition to a
  much larger amount of credit being given by the Private Federal Reserve
  Bank without fanfare. All of this without Constitutional authority,
  while ignoring the demands and welfare of almost 100% of the people.
  Hundreds of Economists say this cash infusion will reward the greedy
  who caused and profited from the meltdown while prolonging it with additional
  losses for the people. The Senate in its arrogance just added another
  150 billion dollars to the bailout bill which included a lot of pork.
  - Vote the bastards out! - on 2008-10-03
  Add Sticky Note
- 5.
  The only possible result is massive inflation resulting in worthless
  money, economic collapse and extreme suffering by the people. This is
  a perfect plan for the left, leading to a communist takeover.
- 6.
  This could not occur without the treasonous exercise of unconstitutional
  authority and expenditures by government officials.
- This
  is the end game, where traitors take what they have not already stolen
  using the privately owned and unconstitutional Federal Reserve Bank,
  with support of corrupt rogue officials in Judicial, Legislative, and
  Executive branches at all levels of government who refuse to obey our
  constitution and laws.
- A few specifics of this Tyranny and high Treason
  are as follows:
- *
  Without actions by the unconstitutional Federal Reserve Bank this meltdown
  would have been impossible; it is privately owned by corporate elites
  using unconstitutional Federal Reserve Notes as currency to steal our
  assets and impoverish us.
- *
  The unconstitutional Federal Reserve Bank enabled and extended the Great
  Depression using deflation and their private owners bought what they
  wanted for next to nothing, and they are doing it again, but now they
  are using inflation..
- *
  This Criminal Conspiracy (RICO) of government, corporate and media has
  reduced the value of our unconstitutional money to the point where it
  now requires more than three times as many dollars to buy gold currency
  as it did in 2000, which effectively raised our cost of living and is
  reducing value of our pensions, savings and investments to zero.
- *
  Our Military and Police must refuse any orders from the rogue officials
  to deny citizens their Constitutional Rights or they may provoke a civil
  war and be tried as war criminals.
  - True! - on 2008-10-03
  Add Sticky Note
- *
  This destruction of our economy is caused by unconstitutional actions
  by government and the private Federal Reserve Bank. It is a failure
  of unconstitutional government socialism (fascism and communism), not
  free enterprise and capitalism.
- *
  Bailout of corrupt bankers and investors will be at great cost, unconstitutional
  and devastating to the people. A bailout would do nothing either for
  Money and Interbank Markets that are close to a systemic meltdown. Again,
  corporate elites take the profits and their employees in Congress shift
  losses to the people. Read Nouriel Roubini.
- *
  Fannie Mae, Freddie Mac, and everyone in real estate caused the meltdown
  and made millions. They were empowered by the private Federal Reserve
  Bank and unconstitutional laws to fund toxic mortgages and to donate
  millions to politicians. Banks were forced to accept a large percentage
  of unqualified loans.
- Our government paid ACORN and others millions
  to teach unqualified people, including illegals, how to game the system
  for mortgages and to commit massive voter fraud. This was not Capitalism,
  it was fraud, and another example of the failure of Socialism.
- *
  Stockholders in Fannie and Freddie lost everything, but our government
  protected the 376 Billion Dollar investment by China, with our money.
  - Typical of the U.S. Government in my life time - on 2008-10-03
  Add Sticky Note
- *
  Ron Paul, the only one in congress who understands Economics said; Congress
  should reject this bailout because it is an immoral theft from taxpayers,
  it is unconstitutional and bad Economic policy. It is also money down
  a rat hole and will only make the dollar crisis that much worse The
  true crisis is the pending collapse of the fiat dollar system. Ron Paul’s
  comments appear to be shared by every Economist in the country who is
  not associated with the criminals.
  - Ron Paul - on 2008-10-03
  Add Sticky Note
- *
  Much of what the Federal Government does is simply unconstitutional
  and the average citizen has no access to justice, none.
  - Exactly! - on 2008-10-03
  Add Sticky Note
- We must regain
  control of Congress so we can impeach and prosecute the criminals in
  all branches and levels of government.
- *
  The wealthy, everywhere in the world know what is going on and they
  are buying gold and silver bars and coins so fast that there is a serious
  shortage.
- Our
  government has unconstitutionally allowed Millions of Americans to be
  either murdered, killed, raped, robbed or molested by illegals so corporations
  could profit from cheap labor, mortgage scams and theft.
- The obvious
  objective is the continuing reduction in our standard of living to the
  point where Americans live and die homeless, hungry and in pain as slaves
  in the North American Union ruled by a Corporate New World Order.
- The
  traitors can only take my country over my dead body, and the bodies
  of millions of other patriots, American citizens are the most heavily
  armed and trained in the world.
- But, our objective is to defeat the
  traitors with the rule of law as long as we have sovereignty, before
  the people really feel the pain from the loss of everything and react
  with uncontrolled rage and bloodshed.
- Our
  own history and experience is proof that the solution to our problems
  is simple; comply with dictates of our Constitution.
- After
  reading this, if you think my use of “Criminal, Usurper, Rogue
  and Traitor” are not proper descriptive terms for most politicians,
  then you are a brainwashed fool.
- This
  was only meant as an outline so you could see the big picture, those
  who desire the brutal truth in great documented detail should read recent
  articles by these experts:
- Alan Stang, Devvy Kidd, David Stoddard, John
  Slagel, Michael Cutler, Greg Evensen, Jim Schwiesow, Dennis Cuddy, Frosty
  Wooldridge, Dave Daubenmire, Tom DeWeese, Jon Ryter, Deanna Springola,
  Lynn Stuter, Berit Kjos, Betty Freauf, Cliff Kincaid, Chuck Baldwin,
  Edwin Vieira, CJ Graham, Joan Veon, Patrick Wood, Laurie Roth, Michael
  Shaw, Niki Raapana, Dennis Cuddy, et al.

26 Sep 08

Bush the Socialist and Destroyer by Llewellyn H. Rockwell, Jr.

www.lewrockwell.com/...bush-socialist-destroyer.html - Preview

george-w-bush president free-market banksters wall-street bailout credit federal-reserve americans bernanke paulson stupid congress bribes tax-payers

Bush the Socialist and Destroyer
by
Llewellyn H. Rockwell, Jr.
33 more annotations...
- Anyone who
  has read a good economics book
  would be quickly reduced to laughter and tears by George Bush's
  ridiculous economic address to the nation.
- He put on his 9-11 suit
  and tried to warn Americans about the impending disaster: that their
  access to an infinite stream of paper money might be imperiled if
  they don't cough up hundreds of billions immediately.
- It is very
  tempting to go line by line and shout back.
- "I'm a strong
  believer in free enterprise, so my natural instinct is to oppose
  government intervention. I believe companies that make bad decisions
  should be allowed to go out of business."
- And this is
  why he nationalized airport security, created huge new bureaucracies,
  spent more than any president in American history, centralized control
  of education, put up more protectionist barriers than Clinton and
  his father combined, bailed out airlines, presided over the Sarbanes-Oxley
  reign of terror, unleashed anti-trust regulators, intensified health-care
  controls, and pretty much used every headline as an excuse to demand
  more money and power?
  - "Chimpy's" legacy - on 2008-09-26
  Add Sticky Note
- "The FDIC
  has been in existence for 75 years, and no one has ever lost a
  penny on an insured deposit, and this will not change."
- But the penny
  itself has lost 94% of its value in those 75 years precisely because
  of institutions such as the FDIC and the Fed. Does he really think
  we are that foolish?
- Here is my
  favorite:
  
  "The problems
  we're witnessing today developed over a long period of time. For
  more than a decade, a massive amount of money flowed into the
  United States from investors abroad because our country is an
  attractive and secure place to do business."
- So
  those nasty foreigners did it to us, huh? Maybe it was Bin Laden
  who sneakily tried to create a credit bubble by investing in U.S.
  stocks!
- And here is
  his description of the grave calamity we face:
  
  "As uncertainty
  has grown, many banks have restricted lending, credit markets
  have frozen, and families and businesses have found it harder
  to borrow money."
- That would actually
  be a wonderful thing. Maybe a recession would last a year or 18
  months, and then we would be back on solid footing again.
- Imagine that!
  We might have to live within our means for a bit.
- He very
  nearly admits that too much credit is what created this mess. So
  he proposes more credit so that we can continue to live on too much
  credit.
- And then what happens next time? Ever more credit? This
  path ends in Weimar-level inflation and total destruction.
  - Followed by German Hitler's American "Minie-Me?" - on 2008-09-26
  Add Sticky Note
- What is striking
  here is the level of public opposition.
- It is somewhere between
  55 and 90 percent, depending on the way the question is worded.
  Also, it is wide and deep opposition. It is made up of Democrats,
  Republicans, liberals, conservatives, blacks, whites, rich, poor,
  men, women – just about everyone, with no systematic bias among
  the polled groups.
- In other words, we have here a wonderful thing:
  a clash of group interests, as Mises would say. It is the state
  and its friends vs. the American people.
  - A long time coming; and LONG overdue! - on 2008-09-26
  Add Sticky Note
- And yet the proximity to the
  election complicates matters. A lost election means no payoff, no
  matter what.
- That doesn't
  mean that Congress won't pass something or other. The administration
  is prepared to pay off every member.
- If public anger is intense enough, these guys might
  balk in the end.
- This
  would be a glorious result. The "credit crisis," as Bush describes
  it, is nothing more than the kind of crisis a college kid faces
  when his parents cut back on the deposits to his checking account.
- It means less high living, a few more nights moping in the dorm
  rather than going out with his drinking friends. It does not mean
  the end of the world.
- The market
  is working now to make things right, to eliminate bad debt and get
  us back on a sound economic footing.
- The government can help by
  legalizing alternative monies, cutting regulations, cutting spending
  and taxing and wars (as Ron Paul says), but otherwise by doing absolutely
  nothing.
- Lehman failed on its own and yet life goes on. The same
  should happen to Goldman, Morgan, Bear, GM, and all the rest.
- Free enterprise
  is a profit and loss system.
- This is a time of losses, stemming
  from an overinflated credit sector, one that the Austrian economists
  have warned about for many years. Listen to the Austrians now and
  permit the failures to occur.
- By the way,
  since when has it been an article of our national religion that
  the economy must never, ever, under any circumstances, be permitted
  to fall into recession, even slightly? This is completely insane.
- The books you
  need to get to your congressman and staff now are America's
  Great Depression and The
  Mystery of Banking. The first explains that it was credit
  expansion and the attempt to keep prices high that prolonged the
  Depression which would otherwise have ended by 1931 or 1932. On
  this point Bernanke is all wet.
- The second
  book explains how money and banking work in a free market, as opposed
  to a subsidized, fiat-money, centralized system.
- These are the two
  most essential books of our time, because they completely overthrow
  the prevailing theory behind the bailout.
- Our choice
  is this. We can buckle down for a year-long recession and then get
  on the path to financial and economic soundness. Or we can set off
  a calamity that will last a decade or more, and perhaps even wreck
  civilization as we know it. That's our choice.
- September
  26, 2008
  
  Llewellyn
  H. Rockwell, Jr. [send him
  mail] is founder and president of the Ludwig
  von Mises Institute in Auburn, Alabama, editor of LewRockwell.com,
  and author of Speaking
  of Liberty.

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All Federal borrowing (annualized, in $US billions)	$1,667.4
Households	$709.4
Rest of the world	$545.6
Fed balance sheet	$368.1
Banks	$44.3
Broker dealers	$24.4

Fed purchases of treasuries (annualized, in $US billions)
First quarter	$88.9
Second quarter	$647.4
Third quarter est	$676.1

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