tagged w/ Federal Reserve Bank
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It's not a perfect documentary but it has a rich historical perspective that is uncommon these days. Whatever you think the solution is, the current system is extortion, plain and simple. This is the force behind all the financial problems in the world. For those who believe in the gold standard, understand that human ingenuity is the most valuable resource on Earth, not gold or platinum or any other precious metal or gem. Human ingenuity IS wealth. Gold has no intrinsic value in the marketplace of ideas. Gold is a thing. An idea is a force. Money is a tool. It can be used to oppress humanity or to lift the human condition to heights only dreamed of. But it's only a tool. A paradigm shift is coming.
http://www.youtube.com/watch?v=swkq2E8mswI&feature=relmfuIt's not a perfect documentary but it has a rich historical perspective that is... more
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Now that the game of political musical chairs is over and Republicans will control the House next year, the banksters are busy at work whittling away at provisions contained in the financial regulation bill pushed through Congress earlier this year by the Democrats. As should be expected, the corporate media is mostly mum, although McClatchy ran with a story.
“Lobbyists for Big Finance are working hardest to neutralize the so-called Volcker Rule, which would force big banks to spin off their lucrative proprietary trading operations, in which they invest their own capital in speculative deals,” Kevin G. Hall writes for McClatchy Newspapers.
The measure is named after former Fed mob boss Paul Volcker. It prevents the banksters from betting against trades they made on behalf of their customers, a popular practice until the fuse was lit on the global economy beginning in 2008. Goldman Sachs sold customers overvalued mortgage bonds and then turned around and made secret bets those bonds would default.
Lobbyists are crawling all over the district of criminals like blood thirsty ticks on a swamp dog. They are working to “soften” requirements that Wall Street firms put more “skin in the game” by retaining more mortgage bonds on their books to guard against shoddy lending. They’re also trying to undercut the new Consumer Financial Protection Bureau, according to McClatchy.
Bailout watcher Elizabeth Warren said the Financial Protection Bureau is the strongest financial reform in Obama’s bill. However, considering the bureau’s proposed makeup, it is destined to rolled in like a Trojan horse. “The bureau will consolidate employees and responsibilities from a host of other regulatory bodies, including the Federal Reserve, the Federal Trade Commission, the Federal Deposit Insurance Corporation and even the Department of Housing and Urban Development,” the New York Times reported in September.
The Federal Reserve was established by private bankers — banks and associated businesses owned by the Rockfellers, J.P. Morgan, the Rothschilds, Lazard Freres, Schoellkopf, Kuhn-Loeb, the Warburgs, Lehman Brothers and Goldman Sachs — and exists solely to manipulate and control the nation’s money supply.
Goldman Sachs was a top Obama contributor along with Citigroup, JP Morgan Chase and Morgan Stanley. “Goldman’s connections to the White House and the Obama administration are raising eyebrows at a time when Washington and Wall Street are dueling over how to overhaul regulation of the financial world,” McClatchy reported in April. “Several former Goldman executives hold senior positions in the Obama administration, including Gary Gensler, the chairman of the Commodity Futures Trading Commission; Mark Patterson, a former Goldman lobbyist who is chief of staff to Treasury Secretary Timothy Geithner; and Robert Hormats, the undersecretary of state for economic, energy and agricultural affairs.”
From the very start, the Barry Obama administration was stacked like a crooked card deck withbankster insiders. Out of 14 top cabinet selections, 9 are affiliated with the Bilderberg group, 10 with the Council on Foreign Relations and 5 of are affiliated with the Trilateral Commission.
Now that the mid-term election is safely behind us, the elite plan to dump aspects of the so-called financial reform bill — like protecting consumers from loan sharks and shady investment hucksters — and continue their plan to slow motion implode the economy and take blindsided tax payers to the proverbial cleaners.Now that the game of political musical chairs is over and Republicans will control the... more
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Ron Paul Discusses Ending the Fed (VIDEO)
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The News about the Goldman Sachs Fraud Shouldn’t Surprise You…
New World Order Information
April 17, 2010
The announcement today that the Securities and Exchange Commission sued Fabrice Tourre, a Goldman Sachs vice president for fraud should not surprise you. I have warned the readers of this blog and elsewhere for years about the fraud and corruption in our financial markets and how the international banksters have been stealing your money.
(VIDEO) The Goldman Sachs Fraud…How International Bankers Have Stolen Your Money, Again…Suckers!!!...http://ctpatriot1970.wordpress.com/2010/04/17/video-the-goldman-sachs-fraud-how-international-bankers-have-stolen-your-money-again-suckers/
Goldman Sachs, J.P. Morgan Bank, Bank of America, CitiBank, and others are all the same corrupt players that brought America to her knees with their manufactured financial crisis over the past few years. This latest revelation is nothing new… only more visible now.The News about the Goldman Sachs Fraud Shouldn’t Surprise You…
New... more
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By Greg Hildreth
People generally trust the government and the Federal Reserve to run our monetary system. I submit that this trust is misplaced and that the Federal Reserve System is not compatible with a free society.
Private banking corporations own the Federal Reserve.
These corporations enjoy a government-granted monopoly on the creation of our money. These banks earn interest by lending the money they create.
Our currency, the Federal Reserve Note (commonly called the dollar), is a fiat currency and, as such, is not backed by gold, silver, or any other commodity.
The Federal Reserve System was legalized in 1913 with the passage of the Federal Reserve Act.
The act was sold to the public as a way to “break the grip of the money trust” but the details of the system and its functions were drafted and agreed upon by the financial elites of the day. History has shown the system to benefit the financial elite and the Federal Government at the expense of the middle class and the poor.
In 1933, under President Franklin Delano Roosevelt, gold was confiscated from the American public and a law passed forbidding citizens from owning gold bullion (Executive Order 6102 and the Gold Reserve Act of 1934).
Confiscated gold was redeemed at $20 an ounce. Afterword gold was “revalued” at $35 an ounce. This event makes clear that the Federal Government was not being honest with the American public about the value of the metal or, more importantly, the value of the Federal Reserve Note.
It can be argued that the Federal Reserve’s reckless expansion of credit (the Roaring Twenties) was the root cause of the Great Depression.
Instead of admitting the system’s insolvency the government bailed the system out at the expense of the liberty and treasure of the American Public. Sound familiar?
Today’s Federal Reserve Note is worth about 5 cents compared to the dollar that the Federal Reserve inherited in 1913. Gold is now selling around $1,000 an ounce. The actual value of the precious metal is not changing so much as the value of Federal Reserve Notes is depreciating.
The Federal Reserve prints money, not wealth. Newly created money gains its purchasing power by devaluing the existing stock of money. This is why prices go up.
The purchasing power that is lost from the existing money stock is transferred to the financial elites, the government, and, by extension, the politically connected. This process is immoral and causes untold harm to our economy and political process.
The Federal Reserve is protected by law from being audited in such important areas as: “transactions conducted on behalf of or with foreign central banks, foreign governments, and non-private international financing organizations … and open market operations …” and the list goes on.
Why aren’t we allowed to know? Who does the system really protect?
The history of central banking is quite dramatic and thought provoking. I encourage concerned citizens to investigate and scrutinize. As a nation we have great challenges on the horizon and there must be a vigorous intellectual debate on behalf of liberty and a free society.
“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.By Greg Hildreth
People generally trust the government and the Federal Reserve to... more
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Dagum
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Via National People's Action, here is some footage from the protesters at the ABA conference. From the footage, it's clear there are some strong emotions from the protesters.
At one point a protester grabs a megaphone and says:
"The American Bankers Association has helped loosen the rules that protect us, allowing the unfettered greed that has brought us to the brink of a recession. And for those bankers who are members and support the ABA's war against the working and middle class, shame on you!"
The crowd soon begins chanting "Shame On You!" in unison.
Via Progress Illinois' Twitter feed, here's more video of Sen. Durbin's speech. In this section, he calls for a "showdown" with Wall Street.
According to the Twitter feeds of National People's Action and the SEIU, the protesters are headed to the ABA's "Roaring '20s"-themed cocktail party. (Perhaps the ABA is not aware of the irony of having such an event.)
Sen. Dick Durbin spoke in front of the protesters earlier today. Here's a clip from the video, in which Durbin tells the story of homeowner who was struggling to stay in her home -- and was apparently talked into agreeing to a seemingly atrocious mortgage. The woman's mortgage was riddled with hidden fees and by, "the types of things even a Wall Street lawyer couldn't explain to anyone," Durbin said.
The American Bankers Association's annual convention in Chicago has become the scene for a series of major protests, which are set to continue through Tuesday. Dubbed "the Showdown in Chicago." (http://www.showdowninchicago.org/index.html) (Check back here frequently for updates on the protests.)
Groups like the National People's Action, the Service Employees International Union, Americans For Financial Reform and the AFL-CIO are expected to turn out with thousands of protesters. Sen. Richard Durbin (D - Illinois) is scheduled to address the protesters Sunday evening. Conference speakers include Newt Gingrich, conservative columnist George Will and FDIC chairman Sheila Bair.
Check out these photographs of the "Showdown in Chicago," taken by organizers of the protest.
http://www.huffingtonpost.com/2009/10/25/showdown-in-chicago-prote_n_333245.htmlVia National People's Action, here is some footage from the protesters at the ABA... more
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By David Lawder
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner formally requested that Congress raise the $12.1 trillion statutory debt limit on Friday, saying that it could be breached as early as mid-October.
"It is critically important that Congress act before the limit is reached so that citizens and investors here and around the world can remain confident that the United States will always meet its obligations," Geithner said in a letter to Senate Majority Leader Harry Reid that was obtained by Reuters.
A Treasury spokeswoman declined to comment on the letter.
Treasury officials earlier this week said that the debt limit, last raised in February when the $787 billion economic stimulus legislation was passed, would be hit sometime in the October-December quarter. Geithner's letter said the breach could be two weeks into that period, just as the 2010 fiscal year is getting underway.
The latest request comes as the Treasury is ramping up borrowing to unprecedented levels to fund stimulus and financial bailout programs and cope with a deep recession that has devastated tax revenues.
It is expected to issue net new debt of as much as $2 trillion in the 2009 fiscal year ended September 30 and up to $1.6 trillion in the 2010 fiscal year, according to bond dealer forecasts.
For the full article go to the following link: http://www.facebook.com/l.php?u=http%3A%2F%2Fwww.reuters.com%2Farticle%2FnewsOne%2FidUSTRE57706N20090808&h=97120bbfe1b36241ee5222eed62f4e89By David Lawder
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner... more
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Ron Paul gives the history of the gold standard, the problems in reintroducing it, its constitutionality, and the unconstitutionality of the FED and the Federal Reserve Notes.Ron Paul gives the history of the gold standard, the problems in reintroducing it, its... more
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I found this group of eclectic folks outside the Federal Reserve building in San Francisco. I thought what they had to say was interesting, conspiracy theorist or not!I found this group of eclectic folks outside the Federal Reserve building in San... more
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Volcker issues dire warning on slump
Paul Volcker, the former chairman of the US Federal Reserve, has warned that the economic slump has begun to metastasize after a shocking collapse in output over the past two months, threatening to overwhelm the incoming Obama administration as it struggles to restore confidence.Volcker issues dire warning on slump
Paul Volcker, the former chairman of the US... more
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Read some of the many things Thomas Jefferson said about how Banks controling money is very bad.
Remember the Federal in "Federal Reserve" is no different than the
Federal in "Federal Express"
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If the American People ever allow the banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers occupied. The issuing power of money should be taken from the bankers and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money are more dangerous to liberty than standing armies.
We are completely saddled and bridled, and the bank is so firmly mounted on us that we must go where they ill guide.
The dominion which the banking institutions have obtained over the minds of our citizens...must be broken, or it will break us.
(Letter to James Monroe, January 1, 1815).
"Paper is poverty,... it is only the ghost of money, and not money itself." --Thomas Jefferson to Edward Carrington, 1788. ME 7:36
"The trifling economy of paper, as a cheaper medium, or its convenience for transmission, weighs nothing in opposition to the advantages of the precious metals... it is liable to be abused, has been, is, and forever will be abused, in every country in which it is permitted." --Thomas Jefferson to John W. Eppes, 1813. ME 13:430
"I now deny [the Federal Government's] power of making paper money or anything else a legal tender." --Thomas Jefferson to John Taylor, 1798. ME 10:65
"The incorporation of a bank and the powers assumed [by legislation doing so] have not, in my opinion, been delegated to the United States by the Constitution. They are not among the powers specially enumerated." --Thomas Jefferson: Opinion on Bank, 1791. ME 3:146
"[The] Bank of the United States... is one of the most deadly hostility existing, against the principles and form of our Constitution... An institution like this, penetrating by its branches every part of the Union, acting by command and in phalanx, may, in a critical moment, upset the government. I deem no government safe which is under the vassalage of any self-constituted authorities, or any other authority than that of the nation, or its regular functionaries. What an obstruction could not this bank of the United States, with all its branch banks, be in time of war! It might dictate to us the peace we should accept, or withdraw its aids. Ought we then to give further growth to an institution so powerful, so hostile?" --Thomas Jefferson to Albert Gallatin, 1803. ME 10:437
============ ofcourse now its the other way round - it dictates the war we should be accepting ================
"Certainly no nation ever before abandoned to the avarice and jugglings of private individuals to regulate according to their own interests, the quantum of circulating medium for the nation -- to inflate, by deluges of paper, the nominal prices of property, and then to buy up that property at 1s. in the pound, having first withdrawn the floating medium which might endanger a competition in purchase. Yet this is what has been done, and will be done, unless stayed by the protecting hand of the legislature. The evil has been produced by the error of their sanction of this ruinous machinery of banks; and justice, wisdom, duty, all require that they should interpose and arrest it before the schemes of plunder and spoilation desolate the country." --Thomas Jefferson to William C. Rives, 1819. ME 15:232
Read some of the many things Thomas Jefferson said about how Banks controling money... more
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Chart showing how this bear market compares with other bear markets.
Bottom line: it's worse...Chart showing how this bear market compares with other bear markets.
Bottom line:... more
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* OCTOBER 8, 2008
Fed to Lend Directly to Companies for First Time Since Great Depression, Hints at a Rate Cut; Stocks Fall as Dow Hits 5-Year Low
The Federal Reserve said it will bypass ailing banks and lend directly to American corporations for the first time since the Great Depression, and it hinted strongly at further interest-rate cuts -- a cocktail of unconventional and conventional remedies for an economy whose prognosis is deteriorating rapidly.
The historic and potentially risky move of lending to nonfinancial corporations, the latest in a string of extraordinary steps taken by the Fed over the past month, carries the government deeper into the role of propping up private markets. Investors remain unconvinced any of it will work. * OCTOBER 8, 2008
Fed to Lend Directly to Companies for First Time Since Great... more
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The media is falling all over itself to report on every minutiae of the so-called Wall Street "bailout bill" and its rejection by Congress yesterday. And why not? The media’s breathless coverage of the bill has produced a furious backlash by the public and hysteria on Wall Street in a self-justifying feedback loop that makes the media attention seem merited.
The startling truth which the controlled corporate media is not reporting, however, is that a bailout is actually taking place right now, completely out of the public spotlight. This program has already pumped trillions of dollars into Wall Street (compared to the mere $700 billion proposed in the legislation that the media is focusing on) to help prop up the faltering investment banks and promises to pump in even more, every dime of it to the detriment of the taxpayer though the public will have no stake in its success. Why, then, is this program not being talked about in the media?
Slipping under the radar last week amidst the hullabaloo in Washington over the bailout bill was this story noting that in the past week alone, the Federal Reserve had pumped an astonishing $188 billion per day into the system in the form of emergency credit. This means that in just four days, the Fed injected as much money into the system as the entire $700 billion bailout proposal. After the proposal was rejected, the Fed responded by immediately announcing it would pour another $630 billion into the global financial system.
That the general public is on the hook for this money created out of nothing is not an exaggeration. It is paid for in a dimly-understood mechanism often known as the "inflation tax." Watch Ron Paul explain the inflation tax in the video above:
(more at link)The media is falling all over itself to report on every minutiae of the so-called Wall... more
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What? You're telling me it's all imaginary!!!
Well, it turns out our new source of money, since the early 20th century, has no real value... what?
Yup, these days money is really based on YOUR DEBT - ever increasing debt exponentially.
Maybe we should re-think the kind of "change" we really need in this world...What? You're telling me it's all imaginary!!!
Well, it turns out our new... more
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"...Our entire economy and all of our assets are in the process of being transferred to the Federal Reserve, who now appears to be running the United States of America. We have had a bloodless coup by a very, very powerful group of ruthless men who not only control the United States of America but in unity, control the world in conjunction with all of the other central banks."
[Note: Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."]"...Our entire economy and all of our assets are in the process of being... more
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Fed says remaining investment firms to be converted to commercial banks
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President Bush on Friday asked Congress to approve extensive federal intervention in financial markets that he said is both warranted and essential to halt the worst financial crisis in decades. “We must act now,” he said.
“America’s economy is facing unprecedented challenges. We’re responding with unprecedented measures,” Bush declared, standing in the White House Rose Garden with Treasury Secretary Henry Paulson, Federal Reserve Chairman Ben Bernanke and Christopher Cox, chairman of the Securities and Exchange Commission.
Shortly after his remarks, Bush called congressional leaders with whom the administration would be negotiating through the weekend to devise a rescue package. He spoke to Senate Majority Leader Harry Reid, D-Nev., House Speaker Nancy Pelosi, D-Calif., and Senate Republican leader Mitch McConnell. He planned to reach House Republican leader John Boehner later in the day.
President Bush on Friday asked Congress to approve extensive federal intervention in... more
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Unemployment is at a five-year high. Financial firms that withstood the Great Depression are failing. Congress and a lame-duck president are gridlocked. So when John McCain declared that "the fundamentals of our economy are strong," it drew ridicule from Democrat Barack Obama.
McCain later toned down his remarks, but his observation reflected a debate among analysts and policymakers about the economy's underlying health. Plenty of them think he's right.
Polls show a majority of voters put the economy as their No. 1 concern with seven weeks to go until the presidential election. Many economists believe we are now in a recession. Signs of economic distress are everywhere as housing prices continue to fall and the nation's financial system is pounded by a series of shocks, including the Federal Reserve's stunning $85 billion takeover of insurance giant AIG Tuesday evening.
Unemployment is at a five-year high. Financial firms that withstood the Great... more
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