Should the US Experts be trusted?

November 12 2008

By Jeremy Gaunt and Alex Richardson

LONDON/SINGAPORE

A number of deals designed to cure the global financial crisis were in danger of unravelling on Wednesday, with losses mounting at banks and economies deteriorating.

The International Monetary Fund withheld official backing for a $6 billion (4 billion pounds) bailout plan for Iceland, the Financial Times reported, putting loans to the North Atlantic island nation at threat.

Some of banking giant Barclays’ biggest shareholders have threatened to vote against a planned 7 billion pound capital raising unless it improves the terms of the deal, British newspapers said.

The latter follows a row over the crisis-driven planned purchase of lender HBOS by Lloyds TSB with leading banking figures arguing a more competitive deal should be sought.

Aides to U.S. President-elect Barack Obama, meanwhile, were playing down reports of tension with the Bush administration over help for the stricken car industry.

A feud within Japan’s cabinet over whether rich people should get payouts as part of a stimulus package looked set to be put aside after delaying the plan for weeks.

Questions are also beginning to be asked about just how much help governments can give.

“The U.S.’ financial resources are already stretched and a flood of news demands may overwhelm a government already staring down at a record budget deficit next year,” UBS economists said in a note.

Financial markets were rocked again under the combined pressure of a global economic downturn and the worst financial crisis in 80 years.

European shares rose 1.6 percent after losing more than 4 percent on Tuesday, reflecting the sharp volatility currently infecting investors.

There were more corporate profit warnings with General Motors shares falling on Tuesday to levels not seen since World War Two.

“Whether it’s economic indicators or company news, it’s just too awful,” said Takashi Ushio, head of the investment strategy division at Marusan Securities in Tokyo.

DECLINE AND FALL

The financial industry showed more pain with Dutch group ING posting its first-ever quarterly loss as impairments on stocks and bonds, counterparty losses and property writedowns ate into its income.

ING Group NV had projected the loss in October before agreeing to a 10 billion euros (8.2 billion pounds) cash injection by the Dutch government to shore up its core capital.

Its net loss for the third quarter was 478 million euros, after writedowns totalling 1.5 billion euros. ING posted a profit of 2.3 billion euros a year earlier.

Insurer Swiss Life said third-quarter premium volumes fell 11 percent to 3.075 billion Swiss francs (1.7 billion pounds) and warned it would not meet its full-year net profit guidance.

This came against a background of continuing decline in world economies.

China’s retail sales data on Wednesday pointed to slowing consumption and the World Bank said more countries were seeking its help. The head of the Organisation for Economic Cooperation and Development, Angel Gurria, said there was room for further interest rate cuts in the stagnating euro zone.

World Bank President Robert Zoellick said global trade may drop next year for the first time in more than a quarter of a century as the worldwide credit crisis cuts into trade financing.

“It is our estimate that trade could actually fall, not grow more slowly or have growth fall, but actually fall next year, for the first time since 1982,” Zoellick said in an interview with Reuters ahead of a meeting of world leaders.

Zoellick said the bank expected its lending to increase to $35 billion this year from $13.5 billion last year, adding that countries such as Mexico, Indonesia and Colombia were tapping its contingency financing fund amid worries about access to credit.

Investors, meanwhile, were looking to a summit of world leaders in Washington on Saturday for solutions.

President-elect Obama, however, is steering clear of the meeting.

“I think he wants to have a free hand after the inauguration,” Dale said. “If he gets too closely associated with the summit, he might find himself associated with views with which he might not necessarily agree,” said Reginald Dale, a scholar at the Centre for Strategic and International Studies.

(Editing by Elizabeth Piper)

Source


My rant for the day.

For all the Geniuses in the Financial Field, I really have to wonder if they know anything at all. They pretend to be such experts, but it seems they aren’t such geniuses.

This mess was created in the US, so their experts are not so brilliant. That speaks for itself.

Their advice should be scrutinized very carefully.

We should trust them because???????????? ,

Why so they can drag us into yet another one if their capitalistic nightmares.

Their rhetoric and propaganda is nauseating to say the least.

George Bush and all his so called advisors are not to be trusted.

Free Trade, deregulation, pandering to profiteering Corporations, listening to lobby groups and the cost of war have all played a great part to the demise of the US economy.

The so called experts fail to actually see the problem as a whole.

All countries around the world should be taking care of their people.

America is not the most wonderful place in the world.

They do not have the most intelligent people taking care of them.

They do not take care of their people. They just pretend a lot.

Over the years and observing the ups and downs of America and their leaders the two most intelligent people I have noted to date are Ron Paul and Barack Obama.

One of the notes I have taken on both of them is they actually seem to care about the people. When they speak they actually know what they are talking about.

That is special. Considering some of the slop we have had to listen to over the years.

When Bush or Cheney open their mouths, I want to scream at the stupidity of it all.

Hide under my bed in fear of yet another war.

Their wisdom is not wisdom at all it’s just full blown ignorance.

Their fear mongering and rhetoric should have been stopped years ago.

Instead everyone pandered to their garbage.

They turned America into the most hated nation in the world and with good reasons.

They threaten, course and lie. We are trapped on the planet with them until January 2009.

They should be in jail for crimes against humanity yet they are still allowed to run free and attempt to destroy what is left of the world with their so called expert advice.

Spare me the agony.

The Bush Administration has done little or nothing to improve the lives of the American people. They certainly are very adept at destruction not only of their own people but in destroying the rest of the world, whether is be through war of the financial blundering of this administration.

Their advice is not to be trusted. If they are such experts why is their country where it is today?

Their Health Care leaves a lot to be desired. It is horrible, costly and doesn’t serve the people only the profiteering, insurance companies.

Their wars are destroying millions of lives.

Their financial crisis is destroying the world.

Oh yes they are very cleaver indeed.

Their free trade agreements are more like give the profiteering, Corporations cheap, slave labour, massive profits and if they pollute no big deal. They want to take over the naturel resources of each and every country. They want to steal their water and privatize everything they can get their grubby hands on to the demise of the people in said country as well. Live becomes unaffordable for many and poverty rises as does the cost of living.

Privatization is just profiteering at the expense of people. Free Trade agreements drive farmers out of business as it does other homegrown businesses.

The Corporations move in and take over. This practice has to be addressed by all countries. Those who fight back are called evil among other things.

The American media more times then not jump on the propaganda band wagon.

Ensuring the American people never get the truth.

Universal Health Care is apparently a horrible thing in the US. Just ask any one.

Well the American people have been lied to for years over that one.

Michael Moore has tried to tell the Americans things could be different.

He had the guts to go up against the propaganda machine.

When one takes that one Example and really thinks about it that alone says a lot about the lies Americans have been told.

If America cared one iota about their citizens it would have given them Universal Health care years ago. Instead they were spoon fed propaganda and lies. Their media has played in great part a very large role in this and they of all should be telling the American people truth. That is apparently their job. Apparently they are not doing their job very well. .Instead they pander to the insurance companies. They pander to the Government officials who gets loads of money from insurance companies. How very disappointing it all is.

The Bush administration reminds me of a two year old temper tantrum throwing, brat that should be given a good sound spanking and have their privileges taken away.

If my child behaved in such a manner I would ground them for years.

Should they be trusted? They are like and infectious disease.  Spreading their illness world wide. Much like the plague.

Published in: on November 12, 2008 at 8:46 pm  Comments Off on Should the US Experts be trusted?  
Tags: , , , , , , , , , , , , , , , , , , , , , , ,

World Bank director claims Federal Reserve is ‘part of government already’

You Tube | October 10, 2008

A caller on C-Span’s Washington Journal asserts that Congressman Ron Paul and Infowars.com are better sources to understand the current financial crisis than the dominant mainstream media and typical go-along political figures.

The caller also brings up the Federal Reserve as being the main issue that Washington needs to address.

Uri Dadush, Economic Department Director of the World Bank, seems stumped by the mention of the Federal Reserve, which he claims is ‘part of the system of U.S. government already’, before redirecting the conversation towards liquidity efforts in the private banking sector.

Dadush misses the point– perhaps out of confusion, and perhaps out of reluctance to discuss– that the Federal Reserve (which is private, but given power [unconstitutionally] by Congress) controls the money supply and can print at will.

Source

Seems he certainly was confused by the caller. If this is how well educated he is I would be skeptical of letting him anywhere near the World Bank, let alone be a Director of it. The Federal Reserve is privately owned and operated.

I guess the World Bank Director is OH misinformed. The Federal Reserve owns 54% of the Government one could say. Yes one could say that, as the Government owes them, that much money in comparison to what they owe the rest of the planet. Now lets see 54% of ten -elleven trillion = “yup they own the Government”. How comforting?

The caller is correct in a few of his comments.

The world Bank and IMF do put stipulations in when lending money to anyone.  They want countries to open their doors to Privatization and Capitalism.  Of course as we all now well know  Capitalism is a false foundation to stand upon. In view of the stock markets and bank failures of late.

They are rather forceful in wanting their natural resources to be used and abused.

Do they actually help or do they just help the corporations? Well seems they help the corporations exploit the countries. This of course leads to their natural resources being pillaged, plundered also polluting of the water and air.

From the original Canada-US free trade agreement and NAFTA to the WTO agreements and the proposed Free Trade Area of the Americas, these international treaties are about making it easier for the world’s largest corporations to lower their costs. It allows them to seek out the cheapest workers, the most lax environmental laws and to use the threat of relocation to get what they want. The notion that any country, its workers or consumers benefit from such agreements is a myth.

There are numerous organizations that could enlighten one on this issue. Of course it might take a bit of time to investigate.

The World Bank and the International Monetary Fund Encourage Free Trade agreements and opening up countries to Capitalism.  Neither is good for anyone in said countries however.

Seems they are not actually there to help ordinary people just the corporations, they just pretend to help the poor.

Headquarters

International Monetary Fund,

700 19th Street, N.W.,

Washington, D.C. 20431

Source

Headquarters

The World Bank

1818 H Street, NW

Washington, DC 20433 USA

Source

Should we all be a bit suspicious? Well yes.

When the rights of any group of people are removed, you too loose the very same rights.

FEDERAL RESERVE OWNERS AND HISTORY

March 2012 — Just added the First Audit of the Federal Reserve in 99 years. It is at the bottom of the page.

Seems the Federal Reserve is deep in a Fraud and Money Laundering Scam. This began in the George W Bush Era.

This may just be the tip of the iceberg.

Bush, Fed, Europe Banks in $15 Trillion Fraud, All Documented

FEDERAL RESERVE OWNERS


Here’s a look into who was involved in setting up the Federal Reserve in 1913.

* Rothschild Banks of London and Berlin
* Lazard Brothers Bank of Paris
* Israel Moses Sieff Banks of Italy
* Warburg Bank of Hamburg, Germany and Amsterdam
* Kuhn Loeb Bank of New York
* Lehman Brothers Bank of New York
* Goldman Sachs Bank of New York
* Chase Manhattan Bank of New York (Controlled By the Rockefeller Family Tree)

Charles A. Lindbergh, Sr. 1913 “When the President signs this bill, the invisible government of the monetary power will be legalized….the worst legislative crime of the ages is perpetrated by this banking and currency bill.”

A Bit of History

In August of 1929, the Fed began to tighten the money supply continually by buying more government bonds. At the same time, all the Wall Street giants of the era, including John D. Rockefeller and J.P. Morgan divested from the stockmarket and put all their assets into cash and gold.

Soon thereafter, on October 24, 1929, the large brokerages all simultaneously called in their 24 hour “call-loans.” Brokers and investors were now forced to sell their stocks at any price they could get to cover these loans. The resulting market crash on “Black Thursday” was the beginning of the Great Depression.

The Chairman of the House Banking and Currency Committee, Representative Louis T. Mc Fadden, accused the Fed and international bankers of premeditating the crash. “It was not accidental,” he declared, “it was a carefully contrived occurrence (created by international bankers) to bring about a condition of despair…so that they might emerge as rulers of us all.”

He went on to accuse European “statesmen and financiers” of creating the situation to facilitate the reacquisition of the massive amounts of gold which Europe had lost to the U.S. during WWI. In a 1999 interview, Nobel Prize winning economist and Stanford University Professor Milton Friedman stated: “The Federal Reserve definitely caused the Great Depression.”

US DECLAIRED bankruptcy

Because the government of the U.S. (a corporation) had paid its loans to the Fed with real money exchangeable for gold, it was now insolvent and could no longer retire its debt. It now had no choice but to file chapter 11. Under the Emergency Banking Act (March 9, 1933, 48 Stat.1, Public law 89-719) President Franklin Roosevelt effectively dissolved the United States Federal Government by declaring the entity bankrupt and insolvent.

June 5, 1933 Congress enacted HJR 192 which made all debts, public or private, no longer collectible in gold. Instead, all debts public or private were to be payable in un-backed Fed-created fiat currency. This new currency would now be legal tender in the U.S. for all debts public and private.

Henceforth, our United States Constitution would be continuously eroded due to the fact that our nation is now owned “lock stock and barrel,” by a private consortium of international bankers, contemptuous of any freedoms or sovereignties intended by our forefathers. This was all accomplished by design.

How the Gold was Stolen from America

Under orders of the creditor (the Federal Reserve System and its private owners) on April 5, 1933 President Franklin D. Roosevelt issued Presidential order 6102, which required all Americans to deliver all gold coins, gold bullion, and gold certificates to their local Federal Reserve Bank on or before April 28, 1933.

Any violators would be fined up to $10,000, imprisoned up to ten years, or both for knowingly violating this order. This gold was then offered by the Fed owners to any foreign, non-U.S. citizen, at $35.00 per ounce. Over the entire previous 100 years, gold had remained at a stable value, increasing only from $18.93 per ounce to $20.69 per ounce.

Since then, every U.S. citizen (by virtue of their birth certificate) has become an asset of the government, pledged at a specific dollar amount to pay this debt through future taxation. Thus, every American citizen is in debt from birth (via future taxation), and is, for all practical purposes, property of the creditors, the privately owned Federal Reserve System.

Presently, the United States Government (which again, is completely owned and controlled by the international bankers) continues to forfeit its sovereignty by entering into international monetary and trade agreements which abolish almost all forms of trade tariffs that previously protected not only the value of American commercial productivity and workforce labor, but which were also a substantial source of revenue for the government.

The loss of this revenue, as well as the expanding deficits created by recent massive reduction in taxation for large corporations and the very wealthiest citizens, insures continued borrowing by the government. This self-perpetuating cycle of borrowing is made possible only by the ability of the government to guarantee repayment (of only the interest, never the principal) through future taxation on the earnings of every American citizen.

Due to our banking history of deception, fraud and counterfeiting, which only benefits the purported elite bankers and their underlings, the borrowed principal itself is being used to make the payments on our debt at interest, thus, it is mathematically impossible to pay off.

We are, therefore, obligated to continue this cycle of borrowing indefinitely, causing complete money slavery for life. The amount owed will expand endlessly, until our monthly payments exceed our income, we are bankrupt, and all we have acquired in this lifetime is pillaged from us. Or, until the privately owned Federal Reserve System is ended and all debts are terminated.

This IS WAY Custsy

BANKING SECRETS THAT BANKS DON’T WANT PUBLISHED

With debt termination/debt reconciliation, you’re out of credit card debt and unsecured loans quickly and easily, once and for all! Here, you will learn the the violations that occur in the issuance of credit cards and loans, plus a touch of the legalities employed in terminating your debts. After qualifying and receiving a telephone presentation, you’ll concur that this is the safest, fastest, most legal, lawful, honest and ethical way of getting out of debt there ever was.

Through extensive research and development by economists, bankers, bank auditors, CPA’s, attorneys, underwriters, authors, and database programmers, we have developed a state-of-the-art legal administrative remedy, designed to anticipate and overcome nearly every variation of creditor response.

The successful termination of your debt also includes all-inclusive Credit Clean-Up of the accounts enrolled. Utilizing these abundant resources, we can work toward the termination of your debt within 18 months, with a much lower monthly payment, ending with nothing negative on your credit report.

With the immeasurable assistance and response from consumers nationwide, combined with our passion to do whatever it takes to neutralize this iniquity, our highly effective, proprietary system, and network of highly capable attorneys, will never cease to improve. The laws described below are the foundation of this process.

Your debt termination relies on applying Federal Laws, U.S. Supreme Court decisions, the Fair Debt Collection Practices Act, the Fair Credit Billing Act, the Uniform Commercial Code, the Truth in Lending Act, and numerous other banking and lending laws – to overcome the following banking practices…

Banks bombard consumers with over 6 billion mail solicitations each year. Notwithstanding newspaper, radio, television, magazine, sporting event advertising and numerous other forms of marketing, the average working class, credit-worthy, American is exposed to over 75 loan solicitations per year.

These banking ads represent, in one way or another, that the bank will lend you money in exchange for repayment, plus interest. This absurd idea is completely contrary to what, in reality, transpires and what is actually intended. In actual fact, banks do not lend you any of their own, or their depositors money.

False advertising is an act of deliberately misleading a potential client about a product, service or a company by misrepresenting information or data in advertising or other promotional materials. False advertising is a type of fraud and is often, a crime.

To substantiate this premise, we will begin by examining the funding process of credit cards and loans. When you sign and remit a loan or credit card application, (say you are approved for $10,000.00) the commercial bank stamps the back of the application, as if it were a check, with the words: “Pay $10,000.00 to the order of…” which alters your application, transforming it into a promissory note.

Altering a signed document, after the fact with the intention of changing the document’s value, constitutes forgery and fraud. Forgery is the process of making or adapting objects or documents with the intent to deceive. Fraud is any crime or civil wrong perpetuated for personal gain that utilizes the practice of deception as its principal method.

In criminal law, fraud is the crime or offense of deliberately deceiving another, to damage them – usually, to obtain property or services without compensation. This practice may also be referred to as “theft by deception,” “larceny by trick,” “larceny by fraud and deception” or something similar.

Having altered the original document, the (now) promissory note is deposited at the local Federal Reserve Bank as new money. Generally Accepted Accounting Principels (the publication governing corporate accounting practices) states: “Anything accepted by the bank as a deposit is considered as cash.” This new money represents a three to ten percent fraction of what the commercial bank may now create and do with as they please.

So, $100,000.00 to $330,000.00.00, minus the original $10,000.00 is now added to the commercial bank’s coffers. With this scheme they are taking your asset, depositing it, multiplying it and exchanging it for an alleged loan back to you. This may constitute deliberate theft by deception. In reality, of course, no loan exists.

At this point in the process, they have now transferred and deposited your note (asset) to the Federal Reserve Bank. This note will permanently reside and be concealed there. Since they’ve pilfered your promissory note, they owe it back to you. It is you, therefore, who is actually the creditor. This deceptive acquisition and concealment of such a potentially valuable asset amounts to fraudulent conveyance.

In legal jargon, the term “fraudulent conveyance” refers to the illegal transfer of property to another party in order to defer, hinder or defraud creditors. In order to be found guilty of fraudulent conveyance, it must be proven that the intention of transferring the property was to put it out of reach of a known creditor – in this case, you.

Once they have perpetrated this fraudulent conveyance, the creditor then establishes a demand deposit transaction account (checking account) in your name. $10,000.00 of these newly created/acquired funds are then deposited into this account. A debit card, or in this case, a credit card or paper check is then issued against these funds. Remember – it’s all just bookkeeping entries, because this money is backed by nothing.

Money laundering is the practice of engaging in financial transactions in order to conceal the identity, source and/or destination of money. Previously, the term “money laundering” was applied only to financial transactions related to otherwise criminal activity.

Today, its definition is often expanded by government regulators (such as the United States Office of the Comptroller of the Currency) to encompass any financial transactions which generate an asset or a value as the result of an illegal act, which may involve actions such as tax evasion or false accounting.

As a result, the illegal activity of money laundering is now recognized as routinely practiced by individuals, small or large businesses, corrupt officials, and members of organized crime (such as drug dealers, criminal organizations and possibly, the banking cartel).

Since receipt of your first “statement” from each of your creditors, they have perpetuated the notion of your indebtedness to them. These assertions did not disclose a remaining balance owed to you, as would your checking account. Mail fraud refers to any scheme which attempts to unlawfully obtain money or valuables in which the postal system is used at any point in the commission of a criminal offence.

When they claim you owe a delinquent payment, you are typically contacted via telephone, by their representative, requesting a payment. In some cases this constitutes wire fraud, which is the Federal crime of utilizing interstate wire communications to facilitate a fraudulent scheme.

Throughout the process of receiving monthly payment demands, you may have been threatened with late fees, increased interest rates, derogatory information being applied to your credit reports, telephone harassment and the threat of being “wrongfully” sued.

Extortion is a criminal offense which occurs when a person obtains money, behavior, or other goods and/or services from another by wrongfully threatening or inflicting harm to this person, their reputation, or property. Refraining from doing harm to someone in exchange for cooperation or compensation is extortion, sometimes euphemistically referred to as “protection”. This is a common practice of organized crime groups.

Blackmail is one kind of extortion – specifically, extortion by threatening to impugn another’s reputation (in this case) by publishing derogatory information about them, true or false, on credit reports. Even if it is not criminal to disseminate the information, demanding money or other consideration under threat of injury constitutes blackmail.

New money was brought into existence by the deposit of your agreement/promissory note. If you were to pay off the alleged loan, you would never receive your original deposit/asset back (the value of the promissory note). In essence, you have now paid the loan twice. Simultaneously, the banks are able to indefinitely hold and multiply the value of your note (by a factor of 10 to 33) and exponentially generate additional profits.

For an agreement or a contract to be valid, there must be valuable consideration given by all parties. Valuable consideration infers a negotiated exchange and legally reciprocal obligation. If no consideration is present, the contract is generally void and unenforceable.

The bank never explained to you what you have now learned. They did not divulge that they were not loaning anything. You were not informed that you were exchanging a promissory note (which has a real cash value) that was appropriated to fund the implicit loan.

You were led to assume that they were loaning you their own, or other people’s money, which we have established as false. They blatantly concealed this fact. If you were misinformed, according to contract law, the agreement is null and void due to “non-disclosure.”

Contract law states that when an agreement is made between two parties, each must be given full disclosure of what is transpiring. An agreement is not valid if either party conceals pertinent information.

Related Article

A Wee Family Tree up 1976 Really Interesting

A must to check out for sure. It is very enlightening as to who owns and controls what. They own and control even more today.

Related Articles

The owners of the Federal Reserve. Our ruling transatlantic elite? and how JFK challenged the Fed.

List of failed banks and banking writedowns

Any President that Would Dare Oppose The Federal Reserve Gets Assassinated: History Lesson & JP Morgan Buyout of Bear Stearns

Article Source

Somewhere in the trillionaires room of Heaven three old codgers are sitting around a table smoking cigars and chuckling over the J. P Morgan Chase & Company buyout of Bear Stearns for a paltry $2.00 a share. Not so much because the price had been over $130 a share a few weeks earlier but because the Federal Reserve Board put up $30 billion of the government’s money to guarantee the sale.

Yes, Mayer Amschel Rothschild, J. P. Morgan and John D. Rockefeller, patriarchs of three of the most powerful family fortunes in history have waited nearly two centuries to see their dreams fulfilled. Perhaps such patience is why their families have remained successful by steadfastly maintaining the rules of the game as set down by their founders.

It was 248 years ago, in 1760 that Mayer Amschel Rothschild created the House of Rothschild that was to pave the way for international banking and control of the world’s resources on a scale unparalleled and somewhat mysterious to this date. He disbursed his five sons to set up banking operations throughout Europe and the various European empires.

“Give me control of a nation’s money
and I care not who makes the laws.”
Mayer Amschel Rothschild

In time the House of Rothschild was able to take control of the Bank of France and Bank of England and relentlessly pursued an effort over two centuries to control a national bank in the USA. By 1850 it was said the Rothschild family was worth over $6 billion and owned one half of the world’s wealth.

From oil (Shell) to diamonds (DeBeers) to gold (from 1919 until 2004 a Rothschild was permanent Chairman of the London Gold Fixing committee which met twice a day in the Rothschild offices in London) the Rothschild’s quietly accumulated a foothold in critical industries and commodities throughout the world.

A master at building impenetrable walls around his family assets the current value of the Rothschild holdings are estimated to be between $100 and $300 trillion, yes that is trillion dollars! Now for a point of reference the current United States National Debt is $9.4 trillion.

J. P. Morgan began as the New York agent for his father’s business in London in 1860 and by 1877 was floating $260 million in US Bonds to save the government from an economic collapse. In 1890 he inherited the business and in 1895 bought $200 million in US Bonds with gold to again save the US economy.

“If you have to ask how much it costs,
you can’t afford it.”
J. P. Morgan

By 1912 he controlled $22 billion and had started companies such as US Steel and General Electric while he owned several railroads. Morgan was also an American agent for the House of Rothschild in London and used the Rothschild resources to help people like John D. Rockefeller.

Rockefeller, who started Standard Oil in 1863 with the help of Morgan, grew his company into the largest oil company in the world and by 1916 Rockefeller was the first billionaire in American history. In 1909 he had set up the Rockefeller Foundation with $225 million and donated nearly a billion more dollars to various causes. The Rockefeller family fortune is estimated to be around $11 trillion today.

“The way to make money is to buy
when blood is running in the streets.”
John D. Rockefeller

So what did they have in common these extraordinary capitalists? They all were dedicated to owning a national bank in America so they could determine the fiscal policies of the nation and earn interest on the debt of the nation.

Rothschild agents in 1791 formed the First Bank of the United States but intense opposition to foreign ownership by President Jefferson and others helped kill it by 1811. A Second Bank of the United States was formed in 1816 once again by Rothschild agents and this time they secured a 20-year charter. However, President Andrew Jackson was also opposed to foreign ownership and withdrew the federal deposits in 1832 as part of his plan to kill the bank charter in 1836.

An attempt to assassinate Jackson in 1834 left him wounded but more determined than ever to stop the central bank. Thirty years later President Lincoln refused to pay international bankers extremely high interest rates during the Civil War and ordered the printing of government bonds. With the help of Russian Czar Alexander II who also blocked a similar national bank from being set up in Russia by the international bankers they were able to survive the economic squeeze.

Lincoln said, “The money powers prey upon the nation in times of peace and conspire against it in times of adversity. The banking powers are more despotic than a monarchy, more insolent than autocracy, more selfish than bureaucracy. They denounce as public enemies all who question their methods or throw light upon their crimes. I have two great enemies, the Southern Army in front of me and the bankers in the rear. Of the two, the one at my rear is my greatest foe. Corporations have been enthroned, and an era of corruption in high places will follow. The money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed.”

Both Lincoln and Alexander II were assassinated. In 1881 James Garfield became president and he was dedicated to restoring the right of the federal government to issue money like Lincoln did in the Civil War and he was also assassinated.

Finally along came 1913 and the US was again suffering from a weak economy and there was a threat of another costly war, a world war this time, and business tycoons J.P. Morgan, John D. Rockefeller and E.H. Harriman were part of a group that got Woodrow Wilson to sign into law the Federal Reserve Act creating a network of 12 privately owned banks as part of a new Federal Reserve network.

One of the largest stockholders in the new Federal Reserve was the House of Rothschild through their direct and indirect holdings. A few years later it was disclosed that the Rothschilds also owned about 20% of J. P. Morgan. In time Morgan would merge with the Chase Manhattan Bank of the Rockefellers.

Years later John F. Kennedy opposed a private national bank and was assassinated in 1963 and Ronald Reagan opposed a private national bank and in 1981 an attempt was made to assassinate him. Coincidence or not the opposition to a privately owned national bank was a common characteristic.

Which brings us full circle to the present bailout of Bear Stearns by J.P. Morgan Chase & Company and we find the Rothschild, Morgan and Rockefeller families are all conveniently part of the same group benefiting from the bailout and the $30 billion guarantee by the Federal Reserve. This is the third time the J. P. Morgan Company has come to the rescue of the American banking system and economy.

John Perkins “Confessions of an Economic Hitman”Extended Interview 2008

Talks about Banks, Corporations, Free Trade,Wars, Toppling Governments, assassinations and numerous other things the US does to manipulate other countries.

How banks create money out of thin air

In Libya loans were interest free. Libya had no Debt. They instead had a surplus.Its no wonder the US/NATO countries wanted this example of good banking gone.

The Libya American’s never saw on Television

Related Articles

US Spending and Revenues 1902 to 2008

Who Benefited the most by J.F. Kennedy’s Death?

President John F.Kennedy, The Federal Reserve And Executive Order 11110

From September 2009

Federal Reserve rejects request for public Audit

First independent audit of the Federal Reserve in the Fed’s 99 year history.

By Alan Grayson

I think it’s fair to say that Congressman Ron Paul and I are the parents of the GAO’s audit of the Federal Reserve.

Anyway, one of our love children is a massive 251-page GAO report technocratically entitled “Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance.” It is almost as weighty as that 13-lb. baby born in Germany last week, named Jihad. It also is the first independent audit of the Federal Reserve in the Fed’s 99-year history.

It documents Wall Street bailouts by the Fed that dwarf the $700 billion TARP, and everything else you’ve heard about.

I wouldn’t want anyone to think that I’m dramatizing or amplifying what this GAO report says, so I’m just going to list some of my favorite parts, by page number.

Page 131 – The total lending for the Fed’s “broad-based emergency programs” was $16,115,000,000,000. That’s right, more than $16 trillion. The four largest recipients, Citigroup, Morgan Stanley, Merrill Lynch and Bank of America, received more than a trillion dollars each. The 5th largest recipient was Barclays PLC. The 8th was the Royal Bank of Scotland Group, PLC. The 9th was Deutsche Bank AG. The 10th was UBS AG. These four institutions each got between a quarter of a trillion and a trillion dollars. None of them is an American bank.

Pages 133 & 137 – Some of these “broad-based emergency program” loans were long-term, and some were short-term. But the “term-adjusted borrowing” was equivalent to a total of $1,139,000,000,000 more than one year. That’s more than $1 trillion out the door. Lending for these programs in fact peaked at more than $1 trillion.

Pages 135 & 196 – Sixty percent of the $738 billion “Commercial Paper Funding Facility” went to the subsidiaries of foreign banks. 36% of the $71 billion Term Asset-Backed Securities Loan Facility also went to subsidiaries of foreign banks.

Page 205 – Separate and apart from these “broad-based emergency program” loans were another $10,057,000,000,000 in “currency swaps.” In the “currency swaps,” the Fed handed dollars to foreign central banks, no strings attached, to fund bailouts in other countries. The Fed’s only “collateral” was a corresponding amount of foreign currency, which never left the Fed’s books (even to be deposited to earn interest), plus a promise to repay. But the Fed agreed to give back the foreign currency at the original exchange rate, even if the foreign currency appreciated in value during the period of the swap. These currency swaps and the “broad-based emergency program” loans, together, totaled more than $26 trillion. That’s almost $100,000 for every man, woman, and child in America. That’s an amount equal to more than seven years of federal spending — on the military, Social Security, Medicare, Medicaid, interest on the debt, and everything else. And around twice American’s total GNP.

Page 201 – Here again, these “swaps” were of varying length, but on Dec. 4, 2008, there were $588,000,000,000 outstanding. That’s almost $2,000 for every American. All sent to foreign countries. That’s more than twenty times as much as our foreign aid budget.

Page 129 – In October 2008, the Fed gave $60,000,000,000 to the Swiss National Bank with the specific understanding that the money would be used to bail out UBS, a Swiss bank. Not an American bank. A Swiss bank.

Pages 3 & 4 – In addition to the “broad-based programs,” and in addition to the “currency swaps,” there have been hundreds of billions of dollars in Fed loans called “assistance to individual institutions.” This has included Bear Stearns, AIG, Citigroup, Bank of America, and “some primary dealers.” The Fed decided unilaterally who received this “assistance,” and who didn’t.

Pages 101 & 173 – You may have heard somewhere that these were riskless transactions, where the Fed always had enough collateral to avoid losses. Not true. The “Maiden Lane I” bailout fund was in the hole for almost two years.

Page 4 – You also may have heard somewhere that all this money was paid back. Not true. The GAO lists five Fed bailout programs that still have amounts outstanding, including $909,000,000,000 (just under a trillion dollars) for the Fed’s Agency Mortgage-Backed Securities Purchase Program alone. That’s almost $3,000 for every American.

Page 126 – In contemporaneous documents, the Fed apparently did not even take a stab at explaining why it helped some banks (like Goldman Sachs and Morgan Stanley) and not others. After the fact, the Fed referred vaguely to “strains in the financial markets,” “transitional credit,” and the Fed’s all-time favorite rationale for everything it does, “increasing liquidity.”

81 different places in the GAO report – The Fed applied nothing even resembling a consistent policy toward valuing the assets that it acquired. Sometimes it asked its counterparty to take a “haircut” (discount), sometimes it didn’t. Having read the whole report, I see no rhyme or reason to those decisions, with billions upon billions of dollars at stake.

Page 2 – As massive as these enumerated Fed bailouts were, there were yet more. The GAO did not even endeavor to analyze the Fed’s discount window lending, or its single-tranche term repurchase agreements.

Pages 13 & 14 – And the Fed wasn’t the only one bailing out Wall Street, of course. On top of what the Fed did, there was the $700,000,000,000 TARP program authorized by Congress (which I voted against). The Federal Deposit Insurance Corp. (FDIC) also provided a federal guarantee for $600,000,000,000 in bonds issued by Wall Street.

There is one thing that I’d like to add to this, which isn’t in the GAO’s report. All this is something new, very new. For the first 96 years of the Fed’s existence, the Fed’s primary market activities were to buy or sell U.S. Treasury bonds (to change the money supply), and to lend at the “discount window.” Neither of these activities permitted the Fed to play favorites. But the programs that the GAO audited are fundamentally different. They allowed the Fed to choose winners and losers.

So what does all this mean? Here are some short observations:

(1) In the case of TARP, at least The People’s representatives got a vote. In the case of the Fed’s bailouts, which were roughly 20 times as substantial, there was never any vote. Unelected functionaries, with all sorts of ties to Wall Street, handed out trillions of dollars to Wall Street. That’s now how a democracy should function, or even can function.

(2) The notion that this was all without risk, just because the Fed can keep printing money, is both laughable and cryable (if that were a word). Leaving aside the example of Germany’s hyperinflation in 1923, we have the more recent examples of Iceland (75% of GNP gone when the central bank took over three failed banks) and Ireland (100% of GNP gone when the central bank tried to rescue property firms).

(3) In the same way that American troops cannot act as police officers for the world, our central bank cannot act as piggy bank for the world. If the European Central Bank wants to bail out UBS, fine. But there is no reason why our money should be involved in that.

(4) For the Fed to pick and choose among aid recipients, and then pick and choose who takes a “haircut” and who doesn’t, is both corporate welfare and socialism. The Fed is a central bank, not a barber shop.

(5) The main, if not the sole, qualification for getting help from the Fed was to have lost huge amounts of money. The Fed bailouts rewarded failure, and penalized success. (If you don’t believe me, ask Jamie Dimon at JP Morgan.) The Fed helped the losers to squander and destroy even more capital.

(6) During all the time that the Fed was stuffing money into the pockets of failed banks, many Americans couldn’t borrow a dime for a home, a car, or anything else. If the Fed had extended $26 trillion in credit to the American people instead of Wall Street, would there be 24 million Americans today who can’t find a full-time job?

And here’s what bothers me most about all this: it can happen again. I’ve called the GAO report a bailout autopsy. But it’s an autopsy of the undead.

Feel free to take a look at it yourself, it’s right here.

Source

Ron Paul and what he went through to get this Audit done.