Screw the Banks and Investment Firms

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cowboyangel
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Post by cowboyangel » Wed Jul 28, 2010 5:32 pm

can't sit still wrote:Cowboy, all this makes you want to try to predict an outcome. Roberts does a vid where he talks about the US being a puppet state of Israel;


OK, so where does all this lead??????????????????????????????????????
It appears that the demands of israel will break the US eventually. Where does that leave israel? We're trying to stir up a wider mid-east war. That isn't in the best interests of the rest of the world. BRIC and the G-20 aren't something to be ignored.
Is israel going to ride this tired horse right to the end? Then what?

israel is insolvent and bankrupt. They're a well off country but, the cost of maintaining a garrison is too high. They have hundreds of nukes but that doesn't make anybody wealthy. As the parasites slowly bring America down to the level of a third-world country, will AIPAC bleed out the last dime? If we get REALLY broke, we won't be able to defend israel. What contingency plan do they have for that?
We're being bled to death to try to accomplish the impossible dream.

Is the rest of the world just waiting around for us to collapse so that our war machine grinds to dust? What say you?
No one, no occupying army has ever sustained a successful occupation of Afghanistan. The recent wikileaks provided a story of continued war crimes and quagmire, yet we continue to spend about 2 billion a week on Afghanistan and Iraq. American workers are losing their jobs and their homes and those still in their homes are not doing very well with their property values. The real terrorism is that forced on us by Goldman, Chase and the rest of the entire government-financial cabal.

You know how things work. We will all go down rather than force those in power to do the right things like federalize the federal reserve, institute wide scale state banking, revive Glass-Steigal, criminalize pay day loan centers etc.

The ship will crash and burn and states will be on their own again until a new union is formed with a new constitution. It's written on the sands of time, alas.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

can't sit still
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Post by can't sit still » Wed Jul 28, 2010 8:54 pm

Well, Cowboy, here it comes. GOV is really working to inflate away the debt. Banks are reducing credit which is deflationary. The states are in max-austerity mode. This is deflationary. The FED has been surreptitiously monetizing debt for years but, they still can't seem to cause inflation.
Here comes a new barrage. "This past week the Fed said it intends to stop paying interest on bank deposits with the Fed"
Much depends on what the banks do with those excess reserves now. If it flows into the economy, GOV may get the inflation that it wants.
http://news.goldseek.com/InternationalF ... 326652.php
"This will be wave 2 of quantitative easing, which few will pick up on until next year. We domestically will go from sterilization to monetization."

"A futile attempt to keep the system functional until the elitists decide to pull the plug and accompany the event with another war. These actions are not an attempt to save an unsaveable economy. They are part of the far bigger picture of the deliberate attempt to destroy the US and European economies and as a result force people to accept world government."
What a bummer :(
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

can't sit still
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Post by can't sit still » Sun Aug 01, 2010 8:54 am

Just in case y'all were wondering where we now stand, Here's some numbers;
"We know there has been no increase in the real value of these 'assets' because, in just 2 years, the average amount of losses on their books has increased 5-fold relative to the value of their assets when the first bank failures occurred."
The loses have increased 5 fold,,, how quaint

""During the 2008 U.S. financial crisis, the Wall Street banks required $10 trillion in loans, hand outs and guarantees just to temporarily prevent their bankruptcy - more than all other bail-outs for all the rest of the world, for all of history, combined - and the entire crisis was based upon settling the derivatives positions of just one Wall Street investment bank, namely, Lehman Brothers"
All of time, all of history. That sounds pretty "chunky".

"Despite this huge mountain of unstable debt, Wall Street has actually increased the size of the derivatives bubble by 30% since the U.S. housing-bubble first burst."
Yes, grasshopper,,,, a 30 % increase in financial weapons of mass destruction

"With U.S. hyperinflation likely, but a deflationary collapse still possible"
No grasshopper, no one knows WTF is coming at us.

http://www.safehaven.com/article/17682/ ... t=My+Yahoo
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

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cowboyangel
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Post by cowboyangel » Sun Aug 01, 2010 10:38 pm

Bankers have an address.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

can't sit still
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Post by can't sit still » Wed Aug 04, 2010 6:41 pm

Bankers have a nose for profit too;
http://www.taipanpublishinggroup.com/tp ... 198&r=Milo
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

can't sit still
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Post by can't sit still » Wed Aug 11, 2010 7:11 pm

This is an interesting article on quantitative easing;

" As the blog Pragmatic Capitalist explains, the “helicopter moneyâ€
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

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Post by can't sit still » Thu Aug 12, 2010 5:36 pm

It has been known for some time that banks have been selling MORE treasury bonds than were issued by GOV. Why bother to counterfeit dollars when U.S. bonds are worth so much more. The rest of the world is very pissed off about how we rated and sold worthless private issue securities. Reportedly there is a HUGE failure-to-deliver U.S. agency and treasury bonds. Jim Willie said that international warrants are already written. it remains to be seen. It's a very interesting article.

Willie writes:

The leverage and the makeup of the structured finance schemes devised by Wall Street and the Big US Banks is unraveling. As it does so, the deep fraud is exposed. As it does so, the ruinous construction of finance engineers is exposed. As it does, the vulnerable heart & soul of fiat currency systems is exposed. As it does, the uncontrollable growth of debt originating from the Untied States is exposed. As it does, the path to the USTreasury default is exposed. As it does, the only legitimate financial asset in a paper-driven world is exposed, GOLD. As the Wall Street and Big US Banks are recognized as dead defunct charred ruins of financial firms, whose main source of liquidity funds is naked shorting, the blatant unprosecuted counterfeit of both USTreasurys and USAgency Mortgage Bonds, the ruined condition of bonds is exposed. They are the primary instruments for the fiat currency system. As it does, the only legitimate financial asset is exposed, GOLD. Money today is no different from denominated debt coupons. GOLD IS MONEY AND ALWAYS HAS BEEN MONEY, AS JOHN PIERPOINT MORGAN ONCE SAID.

Yes, Jim Willie is obviously smarter than all of us -- but so is Lawrance Summers. Willie's business is gold and obviously he tells us what we want to hear -- up to a point -- and then baits and switches when it comes to the solution.

Now that we understand where he wants to lead us astray -- that his golden calf does not lead us to the promised land -- let's take in what we can of Jim Willie's dazzling discernment with respect to the current incredibly bad situation.

Excerpts from Willie's most recent letter to gold investors: http://news.goldseek.com/GoldenJackass/1281556800.php


Wall Street and the Big US Banks are dead. No amount of Financial Accounting Standards Board rule changes can overrule the fact that they are grossly insolvent, and worsening by the month. The housing bust and mortgage debacle killed them. Many new profit or basic elite welfare programs are channeled into executive bonuses and excess cash reserves held at the US Federal Reserve, which is also insolvent, yet another major iconic zombie. Check their balance sheet for mortgage bonds worth half their value listed on the books. The lead dogs in the financial sector cannot have access to their cash, desperately needed and absconded by the USFed. They must lean heavily on devices that provide cash. Their bond issuance business has dried up, amidst deep fraud allegations. Their stock initial public offering business has dried up, in collateral damage to integrity. Their credit derivative business is thriving, not coincidentally since it is unregulated. Even their hedge fund business is shriveling up, a strange byproduct of Wall Street targeting and leverage backlash. Their flash trading business is intriguing, hardly a sign of free market efficiency, with bizarre outcome of a grand incestuous poker game limited to those holding Wall Street business cards. So Wall Street and the Big US Banks are dead. Do not count them out just yet! They have found a clever way to provide vast sums of liquidity, aided by the blind eye of USFed Chairman Bernanke. They sell that which they do not own, relying upon collusion at the top.

NAKED SHORTING WITH FAILURE TO DELIVER

In the Smoking Gun article, the main accusation was cited as widespread counterfeit and hiding vast funds. The sale of USTreasury Bonds in the last two years has exceeded the USGovt debt issuance by $1.5 trillion. It was asked "Where did the money go?" But the more important questions are:

Ø What telltale evidence exists to shed light on the counterfeit? (Failures to Deliver)

Ø Where else is excessive sale of USGovt sponsored securities? (USAgency Bonds)

The answers are easy. The implications are great. The impunity is disturbing. The signs of systemic breakdown are diverse. The road to perdition is clear. The path to a USTreasury default is far more obvious with each passing month. The denial is thick. The mortgage bond fraud, whose climax failure in 2008 was quite visible, went unprosecuted. So Wall Street and the Big US Banks are dead. The kings are dead, but the theft has not ended. A new blatant form of fraud has entered the room. Silence is deafening from the entire cast of enforcers, who have one element in common, a Goldman Sachs pedigree. The impish clowns sitting on the helm at the USFed oversee the fraud. They have often stated their primary objective to aid in the promotion of liquidity to the big banks. Naked short sales of USTreasurys and USAgency Mortgage Bonds accomplishes the mission. Yet another Mission Accomplished on a sordid trail in recent US financial snakepit and cesspool run by a den of thieves.

The grand fraud in progress using USGovt debt securities.

The glaring actions continue without any hint of legal prosecution but deep foreign resentment among creditors as publicity mounts. Nobody appreciates counterfeit of the instruments held in great volume as supposed savings. The only counterfeit of honorable origin is of Microsoft products, since mostly stolen and surely not the output of in-house innovation. The problem is more diverse than just a JPMorgan bond fraud issue. Sure, the venerable colossus and syndicate titan sold more than $2 trillion in USTreasurys than were issued in the 1990 decade. Records used to be found in the penthouse business offices at Cantor Fitzgerald in South Manhattan. A database migration to New Jersey surely involves a great deal of deletions. The problem goes far beyond the giant bank, which gobbled numerous other banks in the course of its cancerous reign, to become an appendage of the USGovt today. See Chase Manhattan, Chemical Bank, Manufacturers Hanover, and Bank One. Any competent student of financial economics can see that such merger is part & parcel of the Fascist Business Model, with climax merged union with the state, and side effect of criminal impunity that permits deep fraud in numerous markets like silver. JPMorgan cannot be fixed by the process any more realistically than an angry man with a vengeful heart can carve out his own cardiac pump in order to enjoy a better day. Thus no solution exists.

The problem in very recent history traces back to the September and October months of 2008, when Wall Street investment banks and the US banking system died. These banks have not and will not recover, since they died. Some deaths were obvious, but others remain well hidden. The big banks do not lend money since they are dead, the dirty little secret. Their insolvency is easy to prove, but obscured by altered accounting rules put in place on April 1st 2009. They include generous rules that permit a dead entity to declare itself alive by filing a false accounting report, valuing their own assets at whatever suits their needs. Generally, insolvency plus illiquidity will force bankruptcy. But Wall Street and the Big US Banks use naked shorting of USGovt-backed bonds to produce urgently needed liquidity. All the extreme efforts to revive the US banks are futile. Imagine numerous transfusions of a dead man in the Emergency Room of a hospital, as more blood does not guarantee a resuscitation. More wires and tubes don't mean squat, since the guy has croaked and his corpse is rotting with a stench spreading into the corridors. The dirty secret, protected from the US public, is that the man died. So Wall Street and the Big US Banks are dead. By withholding the reality, a storm of funding programs has been approved by the USGovt, mostly directed at Wall Street and the Big US Banks. They urgently need liquidity, and are creative how they obtain it

A near total shun of the crooked investment banks Main Street and the states has taken place. The private sector investment community does not float new bonds when lawsuits cases are in progress! Sure, the last Stimulus Plan sent many billion$ to the states to plug budget shortfalls. And sure, another $26 billion pittance was approved today for states in a second plug. Somehow the thought of tossing a $1 bill into a tin cup for a street beggar comes to mind, except the beggar is a former well-placed skilled industry employee, now painfully displaced. The states need several hundred billion$, or better yet, they need to redirect the vast funds sent to WashingtonDC and keep them at home, where they would not be wasted or pilfered or sent to battle overseas.

Failures to Deliver on both types of USGovt-backed bonds are staggering. When a trade takes place, usually two to three days are permitted before the stock or bond must be delivered, so as to complete the trade, and to settle the funds transfer among parties. A year ago, vast sums of USTreasury Bonds were the subject of debate and dispute as the volume of Failures to Deliver was staggering in the months following the autumn 2008. Blame was given to the disorder that ensued from the Lehman Brothers failure, the AIG breakdown, and the Fannie Mae nationalization. No such convenient event can be blamed on the present-day Failures to Deliver. They continue for USTreasurys, and explain well the superfluous $1.5 trillion. They precede the return launch of the QE2, the Quantitative Easing. Suddenly, delivery of bonds might be made easier as the USGovt floods the bond market with new issuance covered in cost by the Printing Pre$$, which USFed Chairman Bernanke claims can be operated at zero cost. The actual cost is the ruin of the USDollar image and the ruin of the USTreasury prestige.

What would be the motive for naked short selling of USTreasurys in such volume? Sure, simple greed is always in the mix. Worse, Wall Street lacks legitimate business volume from which to earn profits. So Wall Street and the Big US Banks are dead. Imagine a dark storefront that used to have a bustle of business and constant flow of customers. Not Wall Street, no more. The dark storefront conceals a vast counterfeit operation inside. They sell debt securities under the cover of darkness, out the back door, and rake in great sums of money. When demanded to produce the USTreasurys, they refuse, they delay, or they defy, since they cannot deliver. Thus, the Failures to Deliver. This explains the ready cash flow of liquidity to the Wall Street banks without much investment banking business. This explains the 90 consecutive days without trading loss for the lead dogs in the corrupt sled. This explains how dead zombie banks continue to operate. So Wall Street and the Big US Banks are dead.

DEBT MATURITY & RESALE, NOT THE EXPLANATION

Word is getting out. The excess is NOT explained by USTreasury maturity, expiration, and re-sale, as some analysts claim without doing proper research. Many people offer this simplistic explanation, but it is not correct. Mature rollover of debt is clearly labeled as such, not to be confused with utter counterfeit from naked short sales. The excess USTreasury sale (over and above USGovt deficits) is largely from naked shorting, marked by known Failure to Deliver. This explains how Wall Street and Big US Banks keep their liquidity flowing. These big banks are dead zombies bereft of income, so they counterfeit a source of income. The big banks (including investment banks) have seen a huge decline in IPOs, Bond issuance, and their lending business is way down also, seen in the credit data. They have a big source of income in the USTreasury Carry Trade, buying long, selling short. They have been parking those profits in the USFed, earning interest as Excess Reserves. These points require repeating so as to sink in. Legitimate income is not available.

A Failure to Deliver occurs when the selling party cannot locate the bond, cannot find the bond, or it does not exist. More USTreasurys have been sold than float in existence. Worse, more USAgency Mortgage Bonds have been sold than float in existence. The Wall Street and Big US Banks are engaged in basic counterfeit, sale of that which they do not own, much like selling the Brooklyn Bridge. Some prefer to think the best, that debt is maturing and re-sold. No so! That is naive! The same goes on with the USAgency Mortgage Bonds.

New Issuance of USTreasurys, as the label implies, is new and not old. Many people have some confusion over what New means, which means fresh new securitizations. Rollover of old expiring maturing debt is totally different. The USGovt finance ministry calls it Rollover of Mature Debt Securities, or some such. Anyone who follows the auctions can easily comprehend the names of auctioned securities. In a typical auction, the USDept Treasury might say "$12 billion in New Issuance plus $4 billion in Rollover of Mature Debt securities." There are dozens of examples to detect with a minimum of research. These types of USTreasury products are utterly basic and the names are plain so that common folk can comprehend.

My friend and colleague, and partner in comic relief via telephone, is Rob Kirby. He is a former professional bond broker and credit derivative trader in Toronto. He knows that which he speaks. His opinion was sought, which appears liberally on his website (www.KirbyAnalytics.com). His analysis is thorough and highly reliable. Mr Kirby agreed with me and my claims of naked bond shorting, as he provided a thorough response that should settle any dispute. He wrote:

"When bond issues are announced they are all referred to as New Issuance in that they immediately (before they are auctioned) begin trading on a WI (when issued basis). But when the Government / Treasury states they issued $1.25 Trillion in New Debt securities, they are talking about an increase to aggregate outstanding, which would not include a boatload of expired debt that Rolled or replaced newly issued bonds or T-Bills. To perhaps make that a bit clearer. When the government announces they are going to issue $1.25 billion in new 5-year bonds, even if they are reopening an existing 5-year issue with a known coupon, they immediately begin trading on yield as opposed to existing bonds which trade on PRICE, as in discount or premium to par. / Rob"


SECOND SMOKING GUN WITH FANNIE MAE BONDS

They are known by many names. They are called Govt Sponsored Enterprise Bonds (GSE Bonds), or Fannie Mae Bonds, or Agency Bonds. My preference is to call them USAgency Mortgage Bonds, since they are backed by the full deceit, dishonesty, corruption, collusion, and cloud cover of the United States Government. My claim has been consistent, that Fannie Mae is the crime scene for trillion$ in past theft, with probable dirty hands on past presidents, and that Fannie Mae is the principal clearinghouse for numerous fraud schemes in progress under the USGovt roof. Naked shorting has gone out of control with Mortgage Bonds. A fresh Bloomberg article has brought the counterfeit events to the fore, maybe even painted on a billboard. But the billboard has few lights, and might have been pushed onto a backstreet instead of a main avenue.

Naked shorting explains well the extremely high volume of mortgage bonds, including the Failures to Deliver. Wall Street and the Big US Banks are staying afloat from naked shorting, a form of counterfeit, in order to survive. They lack liquidity. The must sell something. Corporations, municipalities, and other entities observe the Wall Street criminal behavior, their conflict of interest, their trades positioned in opposition to clients, and have lost trust. The Wall Street community activity centered upon naked short sales of USAgency Mortgage Bonds complements their naked shorting of USTreasurys. So Wall Street and the Big US Banks are dead. The USTreasurys are the prima facie in the case to be brought for large scale fraud, sufficient for indictment. The USAgency Mortgage Bonds are the second part to the story, worthy of important support toward conviction. The difficulty of executing transactions tarnishes, pollutes, and contaminates the image of the $5.2 trillion mortgage bond securities market, which is the most liquid behind USTreasurys. That is precisely why the Fannie Mae bonds can be counterfeited so easily. With heavy volume comes heavy cover for fraud. The same is true of $100 bills counterfeited by the Central Intelligence Agency, to keep America strong.

In the aftermath of the USFed's $1.25 trillion of mortgage bond purchases over the last 18 months, they have exposed the market as broken. After acquiring about one quarter of home loan bonds with USGovt-backed guarantees to buttress the housing prices against the threat of freefall, to save the mortgage bond market from outright freefall, and to build a vast queer safety net for the USEconomy, the USFed made some securities too hard to find. In essence, the USFed exposed the vast fraud by Wall Street and the Big US Banks by scooping up the objects of their counterfeit.

Caroline Salas and Jody Shenn started off in their Bloomberg article with a powerful salvo. They wrote, "For all the good the Federal Reserve's $1.25 trillion of mortgage bond purchases have done, they have also left part of the market broken. By acquiring about a quarter of home loan bonds with government backed guarantees to bolster housing prices and the US economy, the Fed helped make some securities so hard to find that Wall Street has been unable to complete an unprecedented amount of trades. Failures to deliver or receive mortgage debt totaled $1.34 trillion in the week ended July 21, compared with a weekly average of $150 billion in the five years through 2009." The last sentence should be read two or three times. It is a smoking gun of USAgency Mortgage Bond fraud, not so much of monetization. In fact, the fraud is the obverse side of the coin whose face features blatant bond monetization. The US financial coin has monetization on its face and bond fraud on the obverse, the rotten output of a fiat currency system in its final phase.

Thomas Wipf chairs an industry group that is trying to address the problem, which is hardly a secret. The fraud is in the open, but not discussed EVER in the financial press or on the air of financial networks. Wipf is chairman of the Treasury Market Practices Group and the head of a bond group at Morgan Stanley. He is concerned about exacerbated damage caused by the collapse of a bank or fund. Translate that concern, as Wipf is worried about exposure of massive bond fraud by Wall Street and Big US Banks during a routine bank failure. Wipf said, "You are adding systemic risk into the market. Investors are taking on counter-party risk in trades they did not intend to take on." In other words, investors are being defrauded and could retaliate if powerful enough. Numerous other bank and bond analysts are hot on this story, but they either refuse to state the obvious or they are not permitted to state the obvious. Maybe after years of operating within the snake pit, they cannot perceive the obvious. Wall Street and the Big US Banks are dead, and are using magnificent naked shorting of USGovt-backed bond securities to remain alive. They know well that the USDept Treasury, the Securities & Exchange Commission, and the Office of the Comptroller of Currency will do nothing. They are dominated and controlled by Goldman Sachs, each head holding a GSax pedigree, and thus no prosecution for grand bond fraud will ever happen. In fact, some research might expose that Goldman Sachs could be the greatest offender of them all in this grotesque naked shorting game. They were a primary player in the last bond fraud scheme, the packaging and sale of mortgage backed securities. This is a natural extension within their field of expertise, their realm of dominance.

The Bloomberg authors Salas and Shenn point out the ripple effect, the daisy chain of unsettled trades that occurs when a broker dealer acting as a buyer in one transaction fails to deliver those bonds as a seller in another. Even Moodys Investors Service is on the crime scene, but not likely to speak truthfully, accurately, or boldly. Senior analyst Alexander Yavorsky at Moodys is concerned about the drag on the mortgage bond business, when he should be more concerned about massive fraud within the business. Obviously, if reduced liquidity in the mortgage bond market persists and causes investors to seek other assets, the consequent effect would run counter to the USFed's goal of buoying demand for the securities. The official program (dubbed QE1) began in January 2009 and officially ended in March. Fraud usually undermines, hinders, and ruins securities markets. But in the Untied States of America, such bond fraud is sanctioned and protected by the regulators, by the central bankers, and by the finance ministries. If truth be known, Wall Street and the Big US Banks are dead. Authors Salas and Shenn had better be careful, or they will lose their jobs for the horrible exposure. Their editorial managers probably have told them to shut the hell up already, after receiving a phone call from the Wall Street control tower. See the Bloomberg article before it is pulled by order of the USGovt (CLICK HERE). It is entitled "Fed Finding No Good Deed Goes Unpunished With Mortgage Bond Trades Failing" and is an eye-popper.

Friend and colleague Aaron Krowne is the owner and editor of the Mortgage Lender Implode website (CLICK HERE). He is an astute bank analyst with a keen alternative viewpoint. He wrote in an email, "Looks like a side effect of the USFed's massive mortgage buying is causing the 'tide to go out' on this market, revealing massive manipulation, or at least, incredibly unsound synthetic derivatives trading on these major fixed income bonds." Wall Street built countless leveraged and artificial bonded securities, mostly atop shifting sands. A great unraveling is in progress, and so is a great awakening in progress.

The leverage and the makeup of the structured finance schemes devised by Wall Street and the Big US Banks is unraveling. As it does so, the deep fraud is exposed. As it does so, the ruinous construction of finance engineers is exposed. As it does, the vulnerable heart & soul of . . . systems is exposed. As it does, the uncontrollable growth of debt originating from the Untied States is exposed. As it does, the path to the USTreasury default is exposed. . . . . As the Wall Street and Big US Banks are recognized as dead defunct charred ruins of financial firms, whose main source of liquidity funds is naked shorting, the blatant unprosecuted counterfeit of both USTreasurys and USAgency Mortgage Bonds, the ruined condition of bonds is exposed.
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

can't sit still
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Post by can't sit still » Sat Aug 14, 2010 2:59 pm

Credit grew at 6 times the rate that the GDP grew. So, it's no surprise that the system blew. This is a good paper talking about credit;

>
> http://www.bloomberg.com/news/2010-08-1 ... ikoff.html
>
> Dear Prof. Kotlikoff:
>
> There are two types of credit: 1) real credit which is the ability of a society to deliver goods and services as, when and where required and 2) financial credit which is the ability to deliver money as, when and where required. A balance or equation should exist between the two forms of credit.. Under the existing financial system financial costs and prices are created at an increasingly greater rate than effective consumer incomes are distributed in each cycle of industrial cost-accountancy. Essentially, the consumer is charged, properly, with capital depreciation but, quite wrongly is not credited with capital appreciation. Capital charges are allocated charges which add to the price of ultimate consumer goods without distributing, in the same accounting cycle, an equivalent of effective, cost-liquidating, consumer buying power. Obviously these capital charges become relatively greater with labour displacement realized by the development and application of more refined real capital or tools brought about by technological advances. Thus, the more efficient the productive process the greater the deficiency of effective purchasing-power (effective meaning the capability of liquidating a financial cost) and the more consumers must rely on new money created by the banking system as debt which does not cancel financial costs but transfers them as an inflationary charge recoverable from future cycles of production. That is to say, the existing financial system robs the consumer of the benefits of increasing efficiency and counters every advance in the industrial sciences.
>
> The physical cost of production (human and non-human energy and materials) is met as production takes place and has been fully met when a produced article is in finished form and ready for purchase and use by the consumer. That is axiomatic: if the physical costs had not been met the item could not have been produced. Consumers should have sufficient aggregate effective financial income to claim the entirety of final goods as they emerge from the production line. Increasingly under the existing system of finance or banking and national accountancy consumers have a growing shortage of effective demand or financial income. Hence consumer debt has escalated exponentially as a percentage of annual earned financial income. The new money or effective demand should not originate in debt via bank loans. The existing Monopoly of Credit held by banking institutions should be broken by State issue of the equivalent of the deficiency of purchasing-power through direct issue of non-repayable credit directly in support of consumption in two forms, being: 1) National (Consumer) Dividends to all citizens as a beneficial (not directly owned) share, as an inalienable inheritance, in the communal capital 2) payments made directly to retailers at point of sale in order to establish Compensated Prices, i.e., a falling price-level. The true cost of production is the mean rate of total national consumption divided by the total mean rate of production, which latter is demonstrably greatly in excess of consumption and growing moreso. Consumers should benefit from rapidly falling prices and increasing economic independence and security, i.e., from increasing Freedom, Abundance and Leisure.
>
> We think that a nation is bankrupt only because a false system of national financial accountancy, or legerdemain, records our circumstances as such. A cursory examination of our physical circumstances demonstrates that we are immeasurably wealthy. As the British Social Credit writer Eric de Mare expresses the matter at the conclusion of his book A Matter of Life or Debt (Onalaska: Humane World Community Inc., U.S. Edition, 1991) ISBN 0-9619877-0-7:
>
> "This monstrous confidence trick, this bogus numerology, this mad metaphysical rite of borrowings oneself out of debt, is still blandly accepted by political leaders of every persuasion all around the world. It is so destructive and so crazy that it may bring all life on this planet to a hideous end. Are we to vanish from this earth without even a whimper of protest against the cause of that possible tragedy? Nothing in the world will, or can, go right until we first get our money sums right."
>
> I attach for your reference the following links to Websites and several documents in PDF format:
>
> Social Credit Secretariat
>
> SOCIAL CREDIT SCHOOL OF STUDIES
>
> Major Douglas -- The Policy of a Philosophy
>
> Social Credit by Major Clifford Hugh Douglas
>
> Social Credit Blogspot
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

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Post by cowboyangel » Sat Aug 14, 2010 3:15 pm

Thanks Dan. will try to read
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Mon Aug 16, 2010 10:44 pm

Wake Up Obama: Massive, widespread economic pain across America

by Joel S. Hirschhorn


Global Research, August 15, 2010



If the United States is not kaput it is certainly withering away even as a rich upper class enjoys all the things that money buys. There is massive, widespread economic pain inflicting a huge fraction of Americans who are unemployed, underemployed, relying on food stamps, losing their homes, and who are feeling totally insecure financially. This maintains sluggish consumer spending that makes necessary economic growth impossible.



The corporate bigwigs meanwhile are essentially using economic blackmail as they sit on trillions of dollars in cash, refusing to invest their capital and making great profits because they have cut workers and increased productivity. They want even more benefits from government that they think Republicans will give them.



No wonder that only 11 percent of people have confidence in Congress and most Americans are fed up with both major political parties. It is bewildering why more Americans are not openly condemning President Obama and his administration. Perhaps because there is no clear Republican that warrants support to replace him.



It seems that Obama has taken some power-narcotic and entered into a delusional mental state. He persists in talking as if the Great Recession is over and all is going just swell. His wife takes the kids for a vacation in Spain and soon the whole family will go up to a swank place in Cape Cod for another vacation and, of course, Obama likes to go out golfing frequently. Does any rational being perceive he really feels the pain that so many citizens feel? He lives the life of a typical rich and powerful corporate CEO, not a servant of the people.



Progressives often seem amazed and befuddled by Obama’s persistent policies that take care of the business and financial sectors, apparently forgetting that when he campaigned for the presidency he took huge amounts of money from those people. If he does not appoint Elizabeth Warrant to head the new consumer protection financial agency Obama should be openly and loudly condemned by everyone on the left.



Obama finds self-satisfaction in making the argument that everything he has done is surely better than any Republican has done or would do. He misses the point that being better than the worst imaginable is not the same as doing a really first rate job that serves the interests of ordinary people and especially of those hit the hardest by the continuing recession. In many respects the economic conditions now savaging the nation are as bad as the Great Depression. The many millions facing hunger, no jobs, homelessness, foreclosure, inadequate better health care, bankruptcy and financial insecurity define a nation way down the toilet. The middle class has been murdered. We are now a two-class society with a rich Upper Class and a suffering Lower Class.



That billions and billions of dollars are still being spent on two unnecessary wars should make everyone feel as if they are living in a big insane asylum. All that money should be going to investment (especially public infrastructure) and jobs creation here in the USA .



No wonder that a Wall Street Journal/NBC News poll this week found that nearly 6 in 10 Americans believe the country is on the wrong track, a majority disapproves of President Obama’s handling of the economy, and nearly two-thirds expect the economy to get worse, which it will.



Even more important than Obama waking up to reality is that more Americans wake up to their nasty political reality. Voting in elections has become a political placebo. Electing more Republicans to Congress in the fall is nothing more than taking two aspirin when you are near death from starvation.



The real medicine needed for our delusional democracy is revolution that overthrows the two-party plutocracy. We need leaders for one, but there are none that most Americans could and should support, not even in the Tea Party movement. Time to learn from history: Even the greatest nations and societies end up losing their glory, wealth and power.



Contact Joel S. Hirschhorn through www.delusionaldemocracy.com.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by can't sit still » Wed Aug 18, 2010 9:15 pm

screw seems to be the word of the day. The courts do not like MERS.
"That means hordes of victims of predatory lending could end up owning their homes free and clear-while the financial industry could end up skewered on its own sword."

"The latest of these court decisions came down in California on May 20, 2010, in a bankruptcy case called In re Walker, Case no. 10-21656-E-11. The court held thatMERS could not foreclose because it was a mere nominee; and that as a result, plaintiff Citibank could not collect on its claim. The judge opined:

Since no evidence of MERS' ownership of the underlying note has been offered, and other courts have concluded that MERS does not own the underlying notes, this court is convinced that MERS had no interest it could transfer to Citibank. Since MERS did not own the underlying note, it could not transfer the beneficial interest of the Deed of Trust to another.Any attempt to transfer the beneficial interest of a trust deed without ownership of the underlying note is void under California law. "

http://www.rense.com/general91/could.htm
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Post by cowboyangel » Sun Aug 22, 2010 10:48 pm

We can still beat these bastards....



Axing the Bankers’ Money Tree: Homeowners' Rebellion against Wall Street
Recent Rulings Could Shield 62 Million Homes from Foreclosure

by Ellen Brown


Global Research, August 19, 2010
webofdebt.com - 2010-08-18





Over 62 million mortgages are now held in the name of MERS, an electronic recording system devised by and for the convenience of the mortgage industry. A California bankruptcy court, following landmark cases in other jurisdictions, recently held that this electronic shortcut breaks the chain of title, voiding foreclosure. The logical result could be 62 million homes that are foreclosure-proof.

In a Newsweek article a year ago called "Too Big to Jail: Why Prosecutors Won’t Hit Wall Street Hard in the Subprime Scandal," Michael Hirsch wrote that we were unlikely to see trials and convictions like those in the savings and loan scandals of the 1980s, because fraud and blame have been so widespread that there is no one to single out and jail. Said Hirsch:

“The sad irony is that in pleading collective guilt, most of Wall Street will escape whipping for a scheme that makes Bernie Madoff's shenanigans look like pickpocketing. At the crest of the real-estate bubble, fraud was systemic and Wall Street had essentially gone into the loan-sharking business.â€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Sat Aug 28, 2010 8:23 pm

They lie to us because they don't care about us. Time to revolt America.




Grim Economic Realities: GDP Report Confirms Worst Economic Crisis since the Great Depression
US slashes estimate of second-quarter economic growth

by Barry Grey


Global Research, August 28, 2010


The Commerce Department on Friday sharply cut its estimate of US economic growth in the second quarter of 2010. The department revised downward its initial estimate, issued July 30, of a 2.4 percent increase in the gross domestic product (GDP) to the even more anemic figure of 1.6 percent.

A 2.4 percent growth rate would already represent a sharp slowdown from previous quarters. US GDP rose 5 percent in the fourth quarter of 2009 and 3.7 percent in the first quarter of this year. A growth rate of 1.6 percent is below the minimum pace of 2.0-2.5 percent which economists consider necessary to prevent a further rise in unemployment.

The reduced figure was widely anticipated following a battery of economic indicators reflecting a sharp contraction in economic growth. Many economists are now predicting that the US economy will grow by less than 2 percent for the remainder of 2010, and some are warning of a “double-dipâ€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Wed Sep 01, 2010 4:04 am

Hey, we are all doomed so anyway, have fun in the desert friends....and enemies.....
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by Ugly Dougly » Wed Sep 01, 2010 9:42 am

Don't worry, Mexico is being prepped for an invasion, and so are you. It should fix our economy temporarily.

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Post by Apollonaris Zeus » Wed Sep 01, 2010 9:15 pm

In 1910, seven men met on Jekyll Island just off the coast of Georgia to plan the Federal Reserve Bank. Nelson Aldrich and Frank Valderclip represented the Rockefeller financial empire. Henry Davidson, Charles Norton and Benjamin Strong rep...resented J.P. Morgan. Paul Warberg represented the Rothschilds Banking dynasty of Europe. The Rothschilds were the banking agents for the Jesuits and hold 'the key to the wealth of the Roman Catholic Church.'

The Morgan gang, the Rothschilds gang and the Rockefeller gang were fierce competitors yet entered joint ventures. They established the national banking cartel called the Federal Reserve System

There were a number of powerful men who were NOT in favor of the Federal Reserve System. Benjamin Guggenheim, Isa Strauss and John Jacob Astor opposed the formation of a F.R.S. These men were arguably the richest men in the world and stood in the way of the Federal Reserve Bank's plan.

Not only were Guggenhein, Strauss and Astor against a Federal Reserve Bank, but they would have used their wealth and influence to oppose World War I.

All 3 men were invited on the maiden voyage of the Titanic, all 3 men died.

The Federal Reserve Bank opend 5 months later.

President John Kennedy, also oppsoed the Federal Reserve. On June 4, 1963, Kennedy signed a Presidential decree, Executive Order 11110. This virtually stripped the Federal Reserve of its power to loan money to the United States government at interest. President Kennedy declared the privately owned Federal Reserve Bank would soon be out of business. This order gave the Treasury Department the authority to issue silver certificates against any silver in the treasury. This executive order still stands today. In less than five months after signing that executive order, President Kennedy was assassinated on November 22, 1963.

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Post by cowboyangel » Thu Sep 02, 2010 8:40 am

Apollonaris Zeus wrote:In 1910, seven men met on Jekyll Island just off the coast of Georgia to plan the Federal Reserve Bank. Nelson Aldrich and Frank Valderclip represented the Rockefeller financial empire. Henry Davidson, Charles Norton and Benjamin Strong rep...resented J.P. Morgan. Paul Warberg represented the Rothschilds Banking dynasty of Europe. The Rothschilds were the banking agents for the Jesuits and hold 'the key to the wealth of the Roman Catholic Church.'

The Morgan gang, the Rothschilds gang and the Rockefeller gang were fierce competitors yet entered joint ventures. They established the national banking cartel called the Federal Reserve System

There were a number of powerful men who were NOT in favor of the Federal Reserve System. Benjamin Guggenheim, Isa Strauss and John Jacob Astor opposed the formation of a F.R.S. These men were arguably the richest men in the world and stood in the way of the Federal Reserve Bank's plan.

Not only were Guggenhein, Strauss and Astor against a Federal Reserve Bank, but they would have used their wealth and influence to oppose World War I.

All 3 men were invited on the maiden voyage of the Titanic, all 3 men died.

The Federal Reserve Bank opened 5 months later.

President John Kennedy, also opposed the Federal Reserve. On June 4, 1963, Kennedy signed a Presidential decree, Executive Order 11110. This virtually stripped the Federal Reserve of its power to loan money to the United States government at interest. President Kennedy declared the privately owned Federal Reserve Bank would soon be out of business. This order gave the Treasury Department the authority to issue silver certificates against any silver in the treasury. This executive order still stands today. In less than five months after signing that executive order, President Kennedy was assassinated on November 22, 1963.

True about the Titanic though I'm sorry Zeus, it was an unfortunate coincidence. The rich demanded Captain Smith command the boat. He'd done that many times on other maiden voyages. You can read Mrs. Astor's telegrams from the Titanic....really sad. Russ Baker makes a better case for Kennedy's assassination tied to Bush senior and the Texas oil companies for whom Kennedy was threatening removing an important tax exemption, though he did make those threats against the Federal Reserve. BTW, there is nothing "Federal" about the Federal Reserve. It's just as "Federal" as Federal Express"- all privately owned by the same few who gave us the current global financial collapse.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Sun Sep 05, 2010 6:21 pm

Global Collapse of the Fiat Money System: Too Big To Fail Global Banks Will Collapse Between Now and First Quarter 2011
When Quantitative Easing Has Run Its Course and Fails

by Matthias Chang


Global Research, August 31, 2010
Future Fast Forward



Readers of my articles will recall that I have warned as far back as December 2006, that the global banks will collapse when the Financial Tsunami hits the global economy in 2007. And as they say, the rest is history.

Quantitative Easing (QE I) spearheaded by the Chairman of Federal Reserve, Ben Bernanke delayed the inevitable demise of the fiat shadow money banking system slightly over 18 months.

That is why in November of 2009, I was so confident to warn my readers that by the end of the first quarter of 2010 at the earliest or by the second quarter of 2010 at the latest, the global economy will go into a tailspin. The recent alarm that the US economy has slowed down and in the words of Bernanke “the recent pace of growth is less vigorous than we expectedâ€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Tue Sep 07, 2010 8:15 am

There is HOPE for......

* Alabama
* Alaska
* Arizona
* Arkansas
* California
* Colorado
* Connecticut
* Delaware
* Florida
* Georgia
* Hawaii
* Idaho



* Illinois
* Indiana
* Iowa
* Kansas
* Kentucky
* Louisiana
* Maine
* Maryland
* Massachusetts
* Michigan
* Minnesota
* Mississippi
* Missouri



* Montana
* Nebraska
* Nevada
* New Hampshire
* New Jersey
* New Mexico
* New York
* North Carolina


* North Dakota (North Dakota can be deleted from this list as it is the only solvent state)



* Ohio
* Oklahoma
* Oregon
* Pennsylvania



* Rhode Island
* South Carolina
* South Dakota
* Tennessee
* Texas
* Utah
* Vermont
* Virginia
* Washington
* West Virginia
* Wisconsin
* Wyoming



State-Owned Banks as a Way to Rebuild the Housing and Real Estate Markets

by Bruce B. Cahan, posted on August 29, 2010 - 11:05am
From Stanford Law School

The financial literacy of America has improved markedly, nearly to college level, as a result of the global recession that started in 2007. What about state-owned banks, is the time ripe to explore that part of economic history?

Americans, now economists, can fill a green chalkboard from left to right, with the familiar logic of our situation:

* our housing bubble, pumped up by loose underwriting and shadow finance, burst,
* this caused Americans' perceived real estate wealth to evaporate,
* consumers reduced spending,
* lacking demand, companies reduced employment, profitability and investments,
* the economic uncertainty increased the volatility of the stock markets,
* this caused investors to flood into the bond markets, pushing interest rates to low levels, near zero, (aided by Federal Reserve monetary policy interventions),
* all of which now threatens a cycle or syndrome of deflation and recession.

We’ve watched banking hearings on Capitol Hill and seen the Financial Reform Act passed and signed by President Obama. Industrial Age banks received Troubled Asset Relief Program (TARP) investments, repaid them with interest to the U.S. Treasury, restored their capacity to pay management bonuses, and are profitable again. The FDIC's list of troubled banks stands at 829, its highest level in 16 years. The FDIC has closed hundreds of community banks since the start of the recession, adding to the perception of government as partner in the mega-banks. Trustworthy, safer banks born of the Information Age have yet to emerge. We're living in an era when, for all practical purposes, virtually no new (de novo) community banks are being approved by regulators until the inventory of failed or marginally-profitable banks are merged with stronger institutions, acquired by new management/investor groups, or closed.

Still the housing and commercial real estate markets wobble in decline, with "For Rent" signs littering Main Street shops, and "For Sale by Bank" signs popping up like weeds in once flourishing, verdant neighborhoods. As of May, the Case/Schiller 20 city composite index stands at 147.33, down 28.6% from its April 2006 high of 206.5. Stockpiled foreclosed and near foreclosed housing and commercial real estate remains off-market. The Federal Home Buyer Tax Credit expired in May, pulling air out of the stimulated demand for housing.

Are housing, mortgages and banking disconnected public concerns? Should they be seen, used, negotiated and discussed in isolated boxes? Is the Internet strong or mature enough to disaggregate and clarify the banks' seminal role in Society?

What’s the connection? What ideas haven't been tried? What lessons of history can we relearn, as much as frugality and mutuality of interdependence?

Our nation’s financial life experience includes state-owned banks. At stateownedbanks.com, I am exploring and sharing the history of banks owned by government for their citizens in the United States and around the world. State-owned banks aren’t socialism. They are precedent from our own Colonial Era, and were familiar to our own Constitutional Congress. The Bank of North America refinanced the Revolutionary War debt amassed in fighting the British for independence. Today, the Bank of North Dakota is a state-owned bank, serving the state government’s needs for banking services. Ellen Brown, author of Web of Debt has championed this history and precedent for years.

No doubt the President and the Democrats are frustrated with the stalled recovery heading into the Fall Mid-Term Elections. Imagine that this week, President Obama calls in the nation’s policymakers and asks for new ideas. What, other than federal stimulus, would jumpstart the economy, stabilize the housing and construction markets and assure state fiscal stability for years to come?

If in that room, I would stand up and say "Mr. President, I have a plan, and here it is:

1. The Fed Reserve is reaching the limit of how much U.S. Government Bonds it can safely/credibly buy and hold as collateral for issuing more dollars.
2. State-owned banks, like the Bank of North Dakota, have populist appeal, and have been proposed in Hawaii, Illinois, Massachusetts, Michigan, Virginia and Washington State.
3. My idea is simple: The Federal Reserve, in effect, could diversify its role, by buying bonds issued at low fixed rates for 10+ years as the seed secured position in existing or newly chartered state-owned banks.
4. The state-owned banks would more quickly and accountably lend for in-state purposes and to balance state budgets. Instead of the federal government trying to oversee and claw-back unpopular stimulus, state-owned banks would be required to use XBRL and other advanced transparency implementations of GASB/FASB transparency accounting standards so as to trace how proceeds of state-owned banks flow into the local and national economy.
5. The Federal Reserve’s role as bondholder would create an instantly credible market in state-owned banks’ bonds, even as an alternative form of currency, thus protecting the international exchange position of the U.S. Dollar.
6. Fiscally, by capitalizing the state-owned banks, this Administrations could claim, with some endorsing GAO study, that the future federal subsidy of state infrastructure and other programs can shrink, thus reducing the federal deficit.
7. Through projects funded by state-owned banks, local needs would determine how best to jumpstart and keep alive businesses and households that the “too big to failâ€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by can't sit still » Sun Sep 12, 2010 9:36 am

Interesting "take" on Nixon.

Author R. Duane Willing, in his book Money, the 12th & Final Religion, claims that Richard M. Nixon, once compliant, fell from grace when he attempted to alter the nation’s money system and develop an interest-free Greenback-style currency which would have immobilized the national debt and obliterated the curse of usury. In 1969, Nixon appointed Dr. Preston Martin as Chairman and Chief Operating Officer of the Federal Home Loan Bank Board. Martin allegedly masterminded Nixon’s currency plan which would have converted 4,950 Savings and Loans into full commercial banks with the capacity of issuing checking accounts. This would have created a nationwide banking network outside of the auspices of the Federal Reserve network.



Austrian-born Arthur F. Burns (Burnseig), chairman of the Federal Reserve (1970-1978), had offices on the 8th floor of the Watergate Apartment Hotel. On June 17, 1972, five husky Watergate burglars were apprehended on the 6th floor after they had carried heavy files from Burns’ office down to the 6th floor for photographing. [ii] Allegedly, the burglars had broken into the Democratic National Committee headquarters, a convenient cover story. However, Martin was apparently promised the future chairmanship of the Federal Reserve if he abandoned Nixon and the populist currency plan that would have ended the power of the Federal Reserve. Nixon was purged from the presidency by a media-driven frenzy and forced to resign on August 9, 1974. [iii] He was later pardoned by Ford, probably on the basis of his continued silence about the real details surrounding the Watergate break-in.


Martin didn’t replace Paul A. Volcker (CFR, TC, and BB) as chairman (1979-1987). Instead, Alan Greenspan was appointed as Chairman of the Federal Reserve. Burns ( CFR ) suggested that a review board be established to evaluate wage and price freezes. [iv] Nixon’s handlers created a comprehensive New Deal, Democratic-style strategy called the New Economic Policy after clandestine consultations at Camp David with George P. Shultz ( CFR ), Burns, Paul W. McCracken ( CFR ), Caspar W. Weinberger ( CFR , TC), H.R. Haldeman, John Ehrlichman, Peter G. Peterson ( CFR ), Volcker, John Connally and Speechwriter Bill Safire. Volcker initiated the collapse of the U.S. economy. He has, since 1952, as an economist for the Federal Reserve Bank of New York, influenced U.S. economic policies. In 1962 he became the director of financial analysis at the Treasury Department and in 1963 he was appointed as deputy under-secretary for monetary affairs. He returned to the Treasury as under-secretary (1969-1974) where he promoted international solutions to monetary problems.



The House of Rothschild continues to influence the U.S. economy and domestic and foreign policies. Volcker, after having served as the Federal Reserve Chairman under Presidents Carter and Reagan, went to work for the Rothschilds as chairman of the European investment-banking firm, J. Rothschild, Wolfensohn and Co. in March 1992. Since February 2009, he has been the Chairman of the Economic Recovery Advisory Board under the obedient President Barack Obama who continues to decimate the economy at the behest of the international bankers.
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Post by cowboyangel » Sun Sep 12, 2010 3:51 pm

The US monetary system is in serious trouble: It is not Incompetence, it is Policy Manipulation

by Bob Chapman


Global Research, September 11, 2010
International Forecaster



There is no question the US monetary system is in serious trouble and the situation continues to deteriorate. The smug elitist owners of the system are not getting the desired results and there is great consternation among the players. Since 1913 in running US monetary policy the Fed has had one recession after another and two depressions. The second one is the one we are now in. The Fed’s creation was mainly to end recessions and depressions, something obviously they have been quite unsuccessful at. The reason is they never intended to be successful. The fed was created by its owners to bring them staggering profits, but more importantly, to control the nation politically, economically and financially. The owner’s goal has always been to implement world government and the Fed’s control was designed to bring that about.

True political control of both major parties began in the 1930s and had General Smedly Butler not exposed what this cabal was up too, the final attempt at world government would have happened much sooner. As we moved through the 1960s and 1970s, the political control became manifest with the purchase of most politicians in the house and the Senate. The difference between both parties became almost indistinguishable, as the flow of money grew greater and greater. It’s so bad now that lawmakers do not even read the bills they vote for or against. As Mrs. Pelosi says, “Vote for the bill and we will tell you later what’s in it.â€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Tue Sep 21, 2010 9:46 am

THERE IS HOPE FOR CALIFORNIA


Backed by the full faith and credit of... us.
By Ann Kramer of Hood River, Oregon. Ann is a counselor and board chair for the Gorge Grown Food network, an organization working to building a regional food system in the Columbia Gorge.


Recent headlines indicate that the State of Oregon faces another $1 billion in deficits. The trickle-down effect of the financial crisis that started with Wall Street banks has now come to all our Main Streets across Oregon.
Ironically, while Wall Street is handing out ever- bigger bonuses, State employees will be handed pink slips. In parallel, the private sector has handed out its own round of pink slips as unemployment sits at 10.6% (and almost 20% if one counts those who are off the roles but have given up trying to find employment.). Thus many will clamor for cutting more out of the State coffers, but we must remember that State employees shop at local stores, pay mortgages, get their hair cut and otherwise are an intricate part of the dance between the public and private systems that create Oregon. There’s no way to separate them….they are interdependent. So while cutting back on State expenditures looks effective, it is far less so when you factor in how that cuts back on private businesses too.
We are not the only State in budget crisis. This is happening everywhere. The City of Los Angeles recently announced that they would need to fire 1000 City employees immediately else they would be filing for bankruptcy. But as one citizen said at a public forum on the issue, “If you lay off 1000 City employees, that’s 1000 mortgages that won’t be paid, 1000 people not stopping by our local businesses and eventually, we’re all filing for bankruptcy. When does this end? “
And that’s what we all have to stop and ask ourselves—when does this end?
The work of our State doesn’t exist because of green pieces of paper—it exists because our communities need and want these services in order to create a thriving Oregon. The State may have come up short on $1 billion green pieces of paper, but it is not short on the work that needs to be done.
Another billion in budget cuts in addition to the $2.3 billion last January results in a huge retraction of our lives. We keep acting as if there is no other option than this when in reality there’s a far better option available to us and that’s to create a State Bank of Oregon. Based on the 90 year, successful model of the Bank of North Dakota (BND), a State bank offers a way for us to recharge Oregon’s economy. The Bank of North Dakota model works: they have the lowest unemployment rate in the country (3.6%) and the only state in the country with NO DEFICIT. Right now 11 states are exploring the creation of a State bank as a way to untangle s from Wall Street and build thriving States backed by the full faith and credit of its citizens. Oregon should be the first to lead the way!
The State of Oregon collects and spends lots of money. Did you ever wonder where that money goes? Right now, much of it sits in the TBTF banks and they receive the benefits. In fact, we use the TBTF banks for lots of government services—even paying them to administer the OR SNAP program (food stamps). Instead, a State bank could provide these services, saving us millions as well as interest income returning to State coffers. The State Bank of Oregon would partner with local OR banks to make agricultural, small business, economic development and low-cost student loans to OR students. This availability of credit has all but disappeared from the TBTF banks, but with a State Bank of Oregon, small businesses and farms—which are the backbone of OR’s economy could once again get back to work!
The Bank is a profitable business but the profit belongs not to shareholders and CEOs but to the State of Oregon and its citizens. In North Dakota, it has enabled them to lower taxes and help fund more small businesses that benefit the state overall. As a bankers bank, however, it doesn’t compete with local community banks but instead helps them to compete with the TBTF bank and as a result, it ensures that Oregon’s money it put to work in Oregon and for the benefit of Oregon and her citizens.
Ultimately, this comes down to us thinking about the future of Oregon and our children. As we cut back more and more services, our children have to live in this world of limitations. The easy choice would be to simply say that we have no choice and to stay stuck in status quo and the same old way of doing things. Or we can stand up and make a new choice—one that isn’t all that difficult since the Bank of North Dakota has already proven this is a winning model. Taking this step is to tell Wall Street and the banking system that perpetrated this crisis that we will not let their actions ruin our lives but instead use it as a catalyst to create new solutions and a better Oregon.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by can't sit still » Wed Sep 22, 2010 7:37 pm

Looks like the banks are going to be in the house business for a long time;
"The head economist for Fannie Mae, Douglas Duncan, recently stated during a radio interview that seven million homes in the United States are either vacant or are in the foreclosure process"
http://endoftheamericandream.com/archiv ... -has-begun
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Post by can't sit still » Sun Sep 26, 2010 10:36 am

Here's a good sign that obummer just fucking doesn't get it.
""It will provide incentives to invest and create jobs for 4 million small businesses,"
"The $30 billion fund will be run by the Treasury Department"
"Bank executives say their customers don't want loans"
"Given the #1 problem facing small corporation is lack of customers, it makes little sense to entice businesses to increase capacity"
http://globaleconomicanalysis.blogspot. ... small.html
The economy went up inflames because of too much credit and capacity. GOV is trying to fix it with more credit. THAT is why I bought farmland. D.C. has NO clue. Given that GOV and academia is completely clueless, when do you think that the economy will turn around?
Hugs, Dan 8)
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Post by cowboyangel » Mon Sep 27, 2010 2:18 pm

can't sit still wrote:Here's a good sign that obummer just fucking doesn't get it.
""It will provide incentives to invest and create jobs for 4 million small businesses,"
"The $30 billion fund will be run by the Treasury Department"
"Bank executives say their customers don't want loans"
"Given the #1 problem facing small corporation is lack of customers, it makes little sense to entice businesses to increase capacity"
http://globaleconomicanalysis.blogspot. ... small.html
The economy went up inflames because of too much credit and capacity. GOV is trying to fix it with more credit. THAT is why I bought farmland. D.C. has NO clue. Given that GOV and academia is completely clueless, when do you think that the economy will turn around?
Hugs, Dan 8)
5 years if we reform the Fed and create state banks, otherwise.......doom.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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Post by cowboyangel » Tue Sep 28, 2010 8:46 pm

http://www.marinij.com/ci_16197658?source=most_viewed


Thank you Lloyd Blankfein, Alan Greenspan, Hank Paulson, Jamie Dimon, Larry Summers, Tiny Tim, Penny Pritsker, and the rest of you worse than rancid trash humans.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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cowboyangel
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Post by cowboyangel » Thu Sep 30, 2010 7:35 pm

The Road to World War III - The Global Banking Cartel Has One Card Left to Play

by David DeGraw


Global Research, September 28, 2010
ampedstatus.com - 2010-09-27



The following is Part I to David DeGraw’s new book, “The Road Through 2012: Revolution or World War III.â€
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

can't sit still
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Post by can't sit still » Thu Sep 30, 2010 8:06 pm

Cowboy, thanks for a very depressing post :lol: I think that I see a fatal flaw in the planning of the elites. The U.S. military is the world's number one user of refined petroleum products. The U.S. wants the oil in Central Asia, the Caspians, the Black sea, the middle East, etc, etc, etc. An immense campaign like this would take an ocean of refined products. This war can't be won with missiles.
There is no way that the U.S. could secure foreign refineries. The oil infrastructure has proved itself to be impossible to protect. The R.O.W. could cut back pumping and refining to where it stopped the Navy and Army. I doubt that the A.F. could win all these wars. Iran said that they can fire 11,000 missiles a minute.
GOV would have to secure all the domestic production. That would crash the economy to the point that all domestic control would be lost. That too would bog down the military machine. GOV is great at making unrealistic projections of how long a campaign will take.

They can kick the shit out of a country but, that doesn't mean that they can control it. Imagine the U.S. trying to garrison 20 countries like Afghanistan.
Sick fuckers :evil:
I don't post things because I believe that they are the absolute truth. I post them because I believe that they should be considered.

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cowboyangel
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Post by cowboyangel » Thu Sep 30, 2010 8:59 pm

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Military mutiny will be necessary. It is a distinct possibility. because the boots are us.
"We'll know our disinformation program is complete when everything the American public believe is false."- William Casey, CIA Director 1981

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ygmir
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Post by ygmir » Thu Sep 30, 2010 9:08 pm

is it true, that, the only legal money, is coinage?
YGMIR

Unabashed Nordic
Pagan

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