tagged w/ Federal Reserve
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WASHINGTON (AP) -- The almighty dollar is mighty no more. It has been declining steadily for six years against other major currencies, undercutting its role as the leading international banking currency.
The long slide is fanning inflation at home and playing a major role in the run-up of oil and gasoline prices everywhere.
Vacationing Europeans are finding bargains in the United States, while Americans in Paris and other world capitals are being clobbered by sky-high tabs for hotels, travel and even sidewalk cafes. Northern border-city Americans who once flocked into Canada for shopping deals are staying home; it's the Canadians flocking here now.
Everything made in America - from goods to entire companies - is near dirt cheap to many foreigners. Meanwhile, American consumers, both those who travel and those who stay at home, are seeing big price increases in energy, food and imported goods.
The dollar has lost roughly a quarter of its purchasing power against the currencies of major U.S. trading partners from its peak in 2002.
Since oil is bought and sold in dollars worldwide, the devalued dollar has made the recent surge in energy prices even worse for Americans, leading to $4 gasoline in the United States. Analysts suggest that of the $140 a barrel that oil fetches globally, some $25 may be due to the devalued dollar.
For positive outlooks, possible solutions and the far-reaching impact, follow the URL.WASHINGTON (AP) -- The almighty dollar is mighty no more. It has been declining... more
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haredx
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3 years ago
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...and the Walls come tumbling down. Watch what happens on Wall Street when this gets around the mainstream news media...if it ever does.
From the article:
As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests -- worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.
Under its bylaws, the IMF is charged with the supervision of the international monetary system. Roughly two-thirds of IMF members -- but never the United States -- have already endured this painful procedure.
For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.
...and the Walls come tumbling down. Watch what happens on Wall Street when this gets... more
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twodee
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3 years ago
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Many people in this country and throughout the world are unaware of how the Federal Reserve came about and why it is there. One of the #1 reasons our forefathers came to America and declared indepence from Britain was because of the fact that in Britain, the central banks had complete control of the country. Our forefathers realized that giving a single institution complete control of the currency simultaneously granted that institution complete and utter control of the country in general. From 1783 until 1913 our country was running just fine without a central banking system.
"The refusal of King George III to allow the colonies to operate an honest money system, which freed the ordinary man from the clutches of the money manipulators was probably the prime cause of the revolution." --Benjamin Franklin
Several international bankers realized the potential profit they could make by convincing the American people that a central banking system was necessary. In the early 1900s a few self-serving bankers decided to institute a central bank for the US. They knew the government and public were weary of this so JP Morgan exploited his influence on the media to cause mass hysteria by claiming some privately owned banks were going bankrupt. This caused mass withdrawals putting many banks out of business. In 1910 a secret meeting was held on Jeckyll Island where the Federal Reserve act was drafted by bankers NOT law makers. The bill was handed to Senator Nelson Aldrich, the banker's political frontman. In 1913 with heavy political support from the bankers, Woodrow Wilson became president, having already agreed to sign the Federal Reserve Act in exchange for political support. THIS is how our Federal Reserve came about.Many people in this country and throughout the world are unaware of how the Federal... more
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haredx
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3 years ago
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Key US interest rates have been held at 2% in an expected move, amid signs of continuing problems in the housing market and falling consumer confidence.
Analysts have pointed out the Federal Reserve faces a difficult balancing act as it tries to cope with rising prices and a slowing economy.
US consumer confidence is reportedly at its lowest level in 16 years. And a major survey suggested house prices were substantially lower in April, compared with a year earlier.
The main federal funds rate, at which banks charge each other, has been kept at 2%, marking the first time in 10 months the Fed has failed to reduce interest rates.Key US interest rates have been held at 2% in an expected move, amid signs of... more
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Why this web site now? Because we are running out of time. The American people must wake up and face the reality that promises made in the past will soon bankrupt this nation...
"Ross Perot is the father of fiscal charts. PerotCharts.com will help Americans understand the serious fiscal challenges facing our nation. These new electronic charts will also serve to hold elected officials accountable while accelerating needed actions to help ensure that our collective future will be better than our past."
Hon. David M. Walker
President and CEO, Peter G. Peterson Foundation
Former U.S. Comptroller General (1998 - 2008)
Click the following link to view the "Challenges Facing Our Country" presentation from PerotCharts.com
http://perotcharts.com/challenges/
Why this web site now? Because we are running out of time. The American people must... more
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The Richter Report writes:
On June 3, 2008, The Gulf Times, a newspaper in Qatar, published an editorial which should send chills down the spine of any American who cares about the status of the dollar as the world's reserve currency. The title of the opinion piece said it all: "Paulson dollar hype is not worth a dime."
The article was published so as to coincide with Treasury Secretary Paulson's visit to Saudi Arabia, Qatar, and the United Arab Emirates. In that part of the world, if something gets published, it is a good bet that the government approves of it. Secretary Paulson has recently been quoted in the press as having claimed that the U.S. has the world's most liquid and open markets. He has also uttered the usual garbage about the "fact" that the U.S. supports a strong dollar policy. This, at a time when our total money supply (M3) is expanding at an annualized rate of between 16-17%! The truth of the matter is that our leaders support a WEAK DOLLAR policy. Do not listen to what these people say. Pay attention to what they do!
The reckless expansion of our money supply is THE REASON why the dollar buys less and less with each passing day. Inflation is always a monetary phenomenon. Higher prices are merely a symptom of excessive money/debt creation by central banks, governments, and by fractional reserve banking institutions.
Many nations have "pegged" their currencies to the dollar and are suffering severe problems with inflation as a result. If the U.S. actually had a "strong dollar" policy, the prices of oil, gasoline, diesel, natural gas, coal, uranium, corn, wheat, rice, soybeans, coffee, sugar, pork bellies, beef, chicken, orange juice, lead, zinc, nickel, copper, potash, steel, cement, molybdenum, rhodium, silver, platinum, palladium, and gold would be lower...
(Full story at link)
The Richter Report writes:
On June 3, 2008, The Gulf Times, a newspaper in Qatar,... more
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Think conspiracies don't work??? They do indeed. It was a conspiracy that directed Brutus against Caesar in the Roman senate on the Ides of March. It was a conspiracy that plotted the betrayal of Westpoint by Benedict Arnold during the Revolution. It was a conspiracy that led John Wilkes Booth to the assassination of President Lincoln on Good Friday, 1865... John F. Kennedy, himself the victim of a conspiracy assassination WARNED us about it:
"...There is little value in ensuring the survival of our nation, if our traditions do not survive with it. And there is very grave danger, that an announced need for increased security, will be seized upon by those anxious to expand its meaning to the very limits of official censorship and concealment...we are opposed around the world by a monolithic and ruthless conspiracy that relies primarily on covet means for expanding its sphere of influence, on infiltration instead of invasion, on subversions instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military diplomatic intelligence economic scientific and political operations. Its preparations are concealed, not published. It mistakes are buried, not headlined. Its dissenters are silenced, not praised. No expenditure is questioned, no rumor is printed, no secret is revealed..." --President John F. Kennedy
There is an OFFICIALLY RECOGNIZED conspiracy that seeks world control through capitalist agendas (Monsanto, Microsoft, IBM, Blackwater, Haliburton etc), and most Americans are just flatly ignorant and/or (equally unbecoming) pridefully stupid about it:
"I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs." --Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802), 3rd president of US (1743 - 1826)
"History records that the money changers have used every form of abuse, intrigue, deceit, and violent means possible to maintain their control over governments
by controlling the money and its issuance."--James Madison, the 4th President of the United States (1809-1817)
Consider also President Andrew Jackson's scathing evaluation of central banking:
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves. I intend to rout you out, and by the Eternal God, I will rout you out... If people only understood the rank injustice of the money and banking system, there would be a revolution by morning." ….
Andrew Jackson publicly pledging to defeat international monopolist bankers to their face in his speech. Jackson vanquished a global cartel in its plans for a privately owned “U.S.” central bank. A public murder attempt on Andrew Jackson failed shortly thereafter by a double misfire of the assassin’s pistols.Think conspiracies don't work??? They do indeed. It was a conspiracy that... more
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echoz
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4 years ago
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By James Turk
(Excerpt from main article)
Crude oil is $132. Corn is $6.The cost of everything is rising. Inflation is worsening, and it’s not hard to understand why. M3, the total quantity of dollars, is now growing by 17% per annum. Weimar inflation has arrived in America.
The Federal Reserve is following the footsteps of the central bank in Weimar Germany. It is the same path taken by many central banks that have issued countless fiat currencies based on nothing but government promises. It is the path to the fiat currency graveyard, and the once almighty US dollar – which long ago used to be “as good as gold”, just like the Reichsmark once held that same exalted title – is knocking at the graveyard’s gate.
Full article at link.
http://www.kitco.com/ind/Turk/turk_may262008.html
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James Turk is the Founder & Chairman of GoldMoney.com http://goldmoney.com/ . He is the co-author of The Coming Collapse of the Dollar, which has been updated for a newly released paperback version, now entitled The Collapse of the Dollar http://www.dollarcollapse.com .
Photo from Bernd Widdig's book “Culture and Inflation in Weimar Germany.”
Reprinted at www.kitco.comBy James Turk
(Excerpt from main article)
Crude oil is $132. Corn is $6.The cost... more
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The Federal Reserve sees worse economic problems ahead, according to new forecasts from the central bank released Wednesday.
But even so, the Fed may be reluctant to cut interest rates any further than it already has.
The Fed lowered its economic growth forecast for the year. At the same time, it raised its projections for inflation and unemployment. The combination of slowing growth and rising prices created a difficult situation that made the Fed's latest decision to cut rates on April 30 a "close call."
Stocks, which were trading a bit lower before the release of the minutes, fell even further after the new forecast was revealed. The Dow finished the day with a more than 220 point loss.
The central bank said it now believes full-year economic growth will be between 0.3% and 1.2% this year, significantly below its previous forecast of 1.3% to 2% growth in January. The Federal Reserve sees worse economic problems ahead, according to new forecasts... more
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Charts of who "owns" the Federal Reserve and their Bloodlines
i.e All the usual suspects
Charts of who "owns" the Federal Reserve and their Bloodlines
i.e All... more
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From freedomtofascism.com:
"America: Freedom to Fascism is a compelling and troubling account of how the wealth of our nation was silently passed from its citizens to a handful of powerful bankers in 1913. That's the year the Federal Reserve Act and the 16th Amendment were introduced, giving a privately held corporation the means to control our finances while ensuring its interest payments through the strong arms of the newly-formed Internal Revenue Service. Ever since then, Russo suggests, Americans have been gradually conditioned to accept fewer freedoms and a lower standard of living... all the while considering debt and servitude as distinctly American values.
Russo's first and most cogent point is simple: Americans are not required to pay a federal income tax. That's a bold statement to make, as few people believe that such a fraud could be perpetrated for so long. My father, himself an accountant, insists that the income tax is a very real thing. Russo takes that same belief to IRS employees and simply asks them to cite where it says an unapportioned income tax is required of us all. Guess what? They can't. In a telling segment Sheldon Cohen, former commissioner of the IRS, goes so far as to reject Supreme Court rulings and the Constitution as benchmarks over what is legal with regards to taxation. Russo also interviews members of the tax honesty movement as well as disenfranchised IRS agents who agree that no law on the books conjures up a requirement to send the government part of one's hard-earned paycheck. Russo then showcases court cases where those accused of tax evasion have won precisely because the prosecution cannot provide evidence of a legal federal income tax law.
It's shocking to have it hammered into your head over and over that you've thrown your money away for nothing, but repetition is good; it helps knock loose the deeply entrenched belief that we owe a portion of our livelihood to our government."
(Sorry I couldn't make the video bigger. Click on Google Video to view film in full size.)
Aaron Russo's Restore the Republic website
http://www.restoretherepublic.com/
To order the film on DVD or for more information visit
http://www.freedomtofascism.com/
From freedomtofascism.com:
"America: Freedom to Fascism is a compelling and... more
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Maxim.com writes:
"Think the dollar is weak against the euro? Pit it against the funny money found in these games and you'll be crying all the way to the check-cashing place.
RUPEE (The Legend of Zelda)
Worth: $3 (U.S.)
Methodology: 100 rupees = magical shield. Crappy shield on eBay = $300
What It Means: U.S. Federal Reserve Chairman Ben Bernanke could learn a couple of things from Hyrule's math whizzes, who have kept the region's inflation rate at an astounding 0.00 percent for over 20 years.
GTA DOLLAR (Grand Theft Auto III)
Worth: $25 (U.S.)
Methodology: 100 GTA dollars = Colt .45 Pistol (M1911 A1). Custom model 1911 A1 pistol made by the Springfield Armory = $2,500
What It Means: If you do find a handgun for a hundred bucks in the real world, you'll probably have to call Nerf for more ammo."
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Full story at link. Maxim.com writes:
"Think the dollar is weak against the euro? Pit it against... more
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Financial guru Peter Schiff's economic forecast delivered at U.S. Senate candidate Dr. Murray Sabrin fundraiser on 4/28. Excellent speech for anyone who is curious about what is happening to our economy right now.
Mr. Schiff is the President of Europacific Capital and the author of "Crashproof: How To Profit From The Coming Economic Collapse." He is a regular guest on CNBC and FBN and has appeared on CNN, BloombergTV and Headline News. Mr. Schiff is an avid supporter of Congressman Ron Paul who he says "is the only candidate who doesn't need an economic advisor."
Topics covered:
-- Federal Reserve's role in creating America'a "bubble economy"
-- U.S. borrowing beyond it's means from other countries
-- Devaluation of the U.S. dollar
-- U.S. exporting of inflation to the rest of the world
-- U.S. inflation creating rise in prices of commodities worldwide
-- Artificial demand being created by the Federal Reserve
-- Misplacement of blame on the free market instead of government failure
-- Real causes of economic growth and why recessions are necessary
Financial guru Peter Schiff's economic forecast delivered at U.S. Senate... more
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"The libertarian-leaning obstetrician-turned-congressman's long-shot candidacy continues to take on a life of its own — and he admits he’s in no rush to tamp down the enthusiasm."
By JONATHAN MARTIN | 4/26/08 7:27 AM EST"The libertarian-leaning obstetrician-turned-congressman's long-shot... more
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"Those unfamiliar with marketplace dynamics may not recognize how government activity has created price distortions across our economy. But when these chains fail to restrain the market, the underlying forces become easier to see."
~Peter Schiff, President of Europacific Capital and author of Crashproof: How to Profit From the Coming Economic Collapse
Excerpt from "Why Not Let the Markets Set Prices?", 4/25/2008
http://www.europac.net
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In his latest weekly commentary, Peter Schiff explains how the U.S. government's and the Federal Reserve's manipulation of the markets has had a detrimental effect on the economy. He specifically points out how they have contributed to the subprime mortgage mess, the food and energy crisis and "pushed college tuitions up to the stratosphere." "Those unfamiliar with marketplace dynamics may not recognize how government... more
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Ross Healy, the CEO of Strategic Analysis Corporation, provides insight into the subprime mortgage crises and puts the spotlight on former Federal Reserve Chairman Alan Greenspan. Ross Healy, the CEO of Strategic Analysis Corporation, provides insight into the... more
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Interested in why your hard earned dollar isn't worth as much at the end of the day? Curious about what's going on with the economy? Here's a brief introduction to the culprit.
If you find this interesting and would like to see a more in depth investigation of the Fed you can find it here: http://goldsilver.com/video_player.php?video_id=4&cat_id=1&ss=528c853dc6a65a4abfade817fb2f1e10
"Permit me to issue and control the money of the nation and I care not who makes its laws." — Mayer Amsched Rothchild, prominent eighteenth century European banker
"If the American people ever allow the banks to control issuance of their currency, first by inflation and then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied." — Thomas Jefferson
Interested in why your hard earned dollar isn't worth as much at the end of the... more
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"America has become more a debt 'junkie' - - than ever before
with total debt of $53 Trillion - - and the highest debt ratio in history.
That's $175,154 per man, woman and child - - or $700,616 per family of 4,
$33,781 more debt per family than last year.
Last year total debt increased $4.3 Trillion, 5.5 times more than GDP.
External debt owed foreign interests increased $2.2 Trillion;
Household, business and financial sector debt soared 7-11%.
80% ($42 trillion) of total debt was created since 1990,
a period primarily driven by debt instead of by productive activity.
And, the above does not include un-funded pensions and medical promises.
2 great questions:
Can the production of debt forever replace the production of goods and savings?
Can Americans forever borrow their way to prosperity?
Easy Answer > NO WAY !!"
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From "The Grandfather Economic Report"
by Michael Hodges
"America has become more a debt 'junkie' - - than ever before
with... more
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