tagged w/ central banking
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So many economists and financial pundits seem absolutely shocked that the U.S. economy is slowing down again. It is as if this latest wave of bad economic data has caught them completely by surprise. Now, in the mainstream media we are seeing all kinds of headlines declaring that the U.S. economy is headed for disaster. But anyone with half a brain could have seen this coming. This year alone, we have seen the worst tsunami in Japanese history, the worst U.S. tornado season in recent memory and the worst Mississippi River flooding in decades. In addition, chaos in the Middle East has pushed the price of oil up to very high levels. Of course all of those things were going to have an effect on the economy. In addition, all of the long-term trends that have been destroying the U.S. economy for decades have not been taken a breather. In fact, the truth is that all of our long-term economic problems have been accelerating. So yes, the sky is falling, it is time to panic and the U.S. economy really has fallen and it really can't get up. It is just that everyone in the mainstream media seems to have believed that Ben Bernanke and Barack Obama would just sprinkle a bunch of fairy dust on the economy and everything would just magically get better. Well, in the real world things simply do not work that way. http://theeconomiccollapseblog.com/archives/the-sky-is-falling-it-is-time-to-panic-and-the-u-s-economy-has-fallen-and-it-cant-get-upSo many economists and financial pundits seem absolutely shocked that the U.S. economy... more
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President Franklin D. Roosevelt said those words two days after the attack on Pearl Harbor, but they can be applied to the threat that America and mankind faces today: financial terrorism by global, private central banks such as the Bank for International Settlements and the Federal Reserve Bank. These banks are robbing and destroying America in broad daylight while the resources of the FBI, CIA, and U.S. Military are being wasted and misdirected on purpose to hunt down imaginary terrorists and Islamic villains like Osama Bin Laden who was not responsible for the 9/11 attacks. http://disquietreservations.blogspot.com/2011/06/hang-criminal-banksters-and-financial.htmlPresident Franklin D. Roosevelt said those words two days after the attack on Pearl... more
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As long as the US is at war, the American President is a Caesar. He is above the law. The US Justice (sic) Department has ruled this, and Congress and the Courts have accepted it... The Bush/Cheney regime brought democracy and accountable government to an end. If Obama doesn’t finish the process, the next in line will. http://vdare.com/roberts/110601_hail_caesar.htmAs long as the US is at war, the American President is a Caesar. He is above the law.... more
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The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells Fargo) own the Four Horsemen of Oil (Exxon Mobil, Royal Dutch/Shell, BP and Chevron Texaco); in tandem with Deutsche Bank, BNP, Barclays and other European old money behemoths. But their monopoly over the global economy does not end at the edge of the oil patch... The control that these banking families exert over the global economy cannot be overstated and is quite intentionally shrouded in secrecy. Their corporate media arm is quick to discredit any information exposing this private central banking cartel as “conspiracy theory”. Yet the facts remain. http://www.globalresearch.ca/index.php?context=va&aid=25080The Four Horsemen of Banking (Bank of America, JP Morgan Chase, Citigroup and Wells... more
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It is impossible to understand the downfall of Dominique Strauss-Khan without linking it to his project for the creation of a new international reserve currency, which was to be launched on 26 May 2011 at the Deauville G-8 summit. The project was paradoxically anticipated as much by the Emerging States as by stateless financial capital, but rejected by the U.S.-Israeli military-industrial complex. Thierry Meyssan exposes the chicanery of the Obama administration to dodge its commitments. http://www.voltairenet.org/article170083.htmlIt is impossible to understand the downfall of Dominique Strauss-Khan without linking... more
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The United States Federal Reserve bankers are already prepared for a hostile merger of Canada with the United States with the aid of Stephen Harper. The same bankers who orchestrated the United States Wall Street swindle ($12.5 trillion bailout the Federal Reserve bankers swindled from the American taxpayers - as of December 1, 2010) are banking on Stephen Harper winning a majority on May 2, 2011. They are laying in wait until Harper wins a majority and dissolves Canada, the Canadian flag and the Canadian Dollar. The Federal Reserve’s North American Union Note (sample image above) has already been printed to replace the US Federal Reserve Note, the Canadian Dollar and the Mexican Pesco. http://www.fourwinds10.com/siterun_data/government/north_american_union/news.php?q=1304187474The United States Federal Reserve bankers are already prepared for a hostile merger of... more
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It is an insider's account of how the IMF, World Bank and similar organizations muscle small countries for the benefit of the power elite. You have never heard a speech like this before. The full first clip, along with roughly the first 15 minutes of the second clip, are most informative. Perkins continues on after that, but at that point he calls for a new central type plan to organize the world. In other words, he doesn't get that it is central power that is the problem. http://www.economicpolicyjournal.com/2011/05/inside-world-of-economic-hitman.htmlIt is an insider's account of how the IMF, World Bank and similar organizations... more
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‘Inside Job’ provides a comprehensive analysis of the global financial crisis of 2008, which at a cost over $20 trillion, caused millions of people to lose their jobs and homes in the worst recession since the Great Depression, and nearly resulted in a global financial collapse. The film traces the rise of a rogue industry which has corrupted politics, regulation, and academia. It was made on location in the United States, Iceland, England, France, Singapore, and China. http://nwoobserver.wordpress.com/2011/05/31/documentary-inside-job-2010/‘Inside Job’ provides a comprehensive analysis of the global financial... more
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Russia's President Medvedev, according to the Australian, has "endorsed calls for Colonel Gaddafi to leave office and offered to help to negotiate his exit. " It is a move that has "surprised and delighted" both London and Washington after Russia's initial protest against the extralegal military action that was executed upon an Iraq War-style pack of lies. http://landdestroyer.blogspot.com/2011/05/fake-icc-globalist-strategy-of-tension.htmlRussia's President Medvedev, according to the Australian, has "endorsed... more
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Figuring out what the global power elite are trying to accomplish requires no crystal ball or decoder ring. They say it openly, every day, in speeches and publications that are freely available to the public. Join us this week on The Corbett Report as we dive into some of the enemy propaganda to see if we can find what the oligarchs are thinking…and what they are planning to do next. http://www.corbettreport.com/episode-188-listening-to-the-enemy/?utm_source=feedburnerFiguring out what the global power elite are trying to accomplish requires no crystal... more
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By way of reminder, George W. Bush inherited a federal budget surplus from Bill Clinton in 2000, when the non-partisan Congressional Budget Office (CBO) had forecast that, at that rate, the debt would be entirely wiped out by 2012.
Any questions? http://www.bradblog.com/?p=8540By way of reminder, George W. Bush inherited a federal budget surplus from Bill... more
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If you want to know where the true power center of the world lies, follow the money - cui bono. According to Global Finance magazine, as of 2010 the world’s five biggest banks are all based in Rothschild fiefdoms UK and France.
They are the French BNP ($3 trillion in assets), Royal Bank of Scotland ($2.7 trillion), the UK-based HSBC Holdings ($2.4 trillion), the French Credit Agricole ($2.2 trillion) and the British Barclays ($2.2 trillion).
In the US, a combination of deregulation and merger-mania has left four mega-banks ruling the financial roost. According to Global Finance, as of 2010 they are Bank of America ($2.2 trillion), JP Morgan Chase ($2 trillion), Citigroup ($1.9 trillion) and Wells Fargo ($1.25 trillion). I have dubbed them the Four Horsemen of US banking. http://www.globalresearch.ca/index.php?context=va&aid=24967If you want to know where the true power center of the world lies, follow the money -... more
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Many Americans know that the United States is not a democracy but a "corporatocracy," in which we are ruled by a partnership of giant corporations, the extremely wealthy elite and corporate-collaborator government officials. However, the truth of such tyranny is not enough to set most of us free to take action. Too many of us have become pacified by corporatocracy-created institutions and culture. http://www.alternet.org/story/151018/10_steps_to_defeat_the_corporatocracy?akid=7016.142359.OxHs1P&rd=1&t=22Many Americans know that the United States is not a democracy but a... more
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Several writers have noted the odd fact that the Libyan rebels took time out from their rebellion in March to create their own central bank – this before they even had a government.
By Ellen Brown
http://www.globalresearch.ca/index.php?context=va&aid=24306
Robert Wenzel wrote in the Economic Policy Journal:
I have never before heard of a central bank being created in just a matter of weeks out of a popular uprising. This suggests we have a bit more than a rag tag bunch of rebels running around and that there are some pretty sophisticated influences.
Alex Newman wrote in the New American:
In a statement released last week, the rebels reported on the results of a meeting held on March 19. Among other things, the supposed rag-tag revolutionaries announced the “[d]esignation of the Central Bank of Benghazi as a monetary authority competent in monetary policies in Libya and appointment of a Governor to the Central Bank of Libya, with a temporary headquarters in Benghazi.”
Newman quoted CNBC senior editor John Carney, who asked, “Is this the first time a revolutionary group has created a central bank while it is still in the midst of fighting the entrenched political power? It certainly seems to indicate how extraordinarily powerful central bankers have become in our era.”
Another anomaly involves the official justification for taking up arms against Libya. Supposedly it’s about human rights violations, but the evidence is contradictory. According to an article on the Fox News website on February 28:
As the United Nations works feverishly to condemn Libyan leader Muammar al-Qaddafi for cracking down on protesters, the body's Human Rights Council is poised to adopt a report chock-full of praise for Libya's human rights record.
The review commends Libya for improving educational opportunities, for making human rights a "priority" and for bettering its "constitutional" framework. Several countries, including Iran, Venezuela, North Korea, and Saudi Arabia but also Canada, give Libya positive marks for the legal protections afforded to its citizens -- who are now revolting against the regime and facing bloody reprisal.
Whatever might be said of Gaddafi, the Libyan people seem to be thriving. A delegation of medical professionals from Russia, Ukraine and Belarus wrote in an appeal to Russian President Medvedev and Prime Minister Putin that after becoming acquainted with Libyan life, it was their view that in few nations did people live in such comfort:
[Libyans] are entitled to free treatment, and their hospitals provide the best in the world of medical equipment. Education in Libya is free, capable young people have the opportunity to study abroad at government expense. When marrying, young couples receive 60,000 Libyan dinars (about 50,000 U.S. dollars) of financial assistance. Non-interest state loans, and as practice shows, undated. Due to government subsidies the price of cars is much lower than in Europe, and they are affordable for every family. Gasoline and bread cost a penny, no taxes for those who are engaged in agriculture. The Libyan people are quiet and peaceful, are not inclined to drink, and are very religious.
They maintained that the international community had been misinformed about the struggle against the regime. “Tell us,” they said, “who would not like such a regime?”
Even if that is just propaganda, there is no denying at least one very popular achievement of the Libyan government: it brought water to the desert by building the largest and most expensive irrigation project in history, the $33 billion GMMR (Great Man-Made River) project. Even more than oil, water is crucial to life in Libya. The GMMR provides 70 percent of the population with water for drinking and irrigation, pumping it from Libya’s vast underground Nubian Sandstone Aquifer System in the south to populated coastal areas 4,000 kilometers to the north. The Libyan government has done at least some things right.
Another explanation for the assault on Libya is that it is “all about oil,” but that theory too is problematic. As noted in the National Journal, the country produces only about 2 percent of the world’s oil. Saudi Arabia alone has enough spare capacity to make up for any lost production if Libyan oil were to disappear from the market. And if it’s all about oil, why the rush to set up a new central bank?
Another provocative bit of data circulating on the Net is a 2007 “Democracy Now” interview of U.S. General Wesley Clark (Ret.). In it he says that about 10 days after September 11, 2001, he was told by a general that the decision had been made to go to war with Iraq. Clark was surprised and asked why. “I don’t know!” was the response. “I guess they don’t know what else to do!” Later, the same general said they planned to take out seven countries in five years: Iraq, Syria, Lebanon, Libya, Somalia, Sudan, and Iran.
What do these seven countries have in common? In the context of banking, one that sticks out is that none of them is listed among the 56 member banks of the Bank for International Settlements (BIS). That evidently puts them outside the long regulatory arm of the central bankers’ central bank in Switzerland.
The most renegade of the lot could be Libya and Iraq, the two that have actually been attacked. Kenneth Schortgen Jr., writing on Examiner.com, noted that “[s]ix months before the US moved into Iraq to take down Saddam Hussein, the oil nation had made the move to accept Euros instead of dollars for oil, and this became a threat to the global dominance of the dollar as the reserve currency, and its dominion as the petrodollar.”
According to a Russian article titled “Bombing of Lybia – Punishment for Ghaddafi for His Attempt to Refuse US Dollar,” Gadaffi made a similarly bold move: he initiated a movement to refuse the dollar and the euro, and called on Arab and African nations to use a new currency instead, the gold dinar. Gadaffi suggested establishing a united African continent, with its 200 million people using this single currency. During the past year, the idea was approved by many Arab countries and most African countries. The only opponents were the Republic of South Africa and the head of the League of Arab States. The initiative was viewed negatively by the USA and the European Union, with French president Nicolas Sarkozy calling Libya a threat to the financial security of mankind; but Gaddafi was not swayed and continued his push for the creation of a united Africa.
And that brings us back to the puzzle of the Libyan central bank. In an article posted on the Market Oracle, Eric Encina observed:
One seldom mentioned fact by western politicians and media pundits: the Central Bank of Libya is 100% State Owned. . . . Currently, the Libyan government creates its own money, the Libyan Dinar, through the facilities of its own central bank. Few can argue that Libya is a sovereign nation with its own great resources, able to sustain its own economic destiny. One major problem for globalist banking cartels is that in order to do business with Libya, they must go through the Libyan Central Bank and its national currency, a place where they have absolutely zero dominion or power-broking ability. Hence, taking down the Central Bank of Libya (CBL) may not appear in the speeches of Obama, Cameron and Sarkozy but this is certainly at the top of the globalist agenda for absorbing Libya into its hive of compliant nations.
Libya not only has oil. According to the IMF, its central bank has nearly 144 tons of gold in its vaults. With that sort of asset base, who needs the BIS, the IMF and their rules?
All of which prompts a closer look at the BIS rules and their effect on local economies.......
Continue Reading at:
http://www.globalresearch.ca/index.php?context=va&aid=24306Several writers have noted the odd fact that the Libyan rebels took time out from... more
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Mike Shanklin reviews the movie "Money As Debt", in order to differentiate between a minarchist perspecitve, and a voluntaryist's perspective.
http://www.peacefreedomprosperity.com/?p=3925Mike Shanklin reviews the movie "Money As Debt", in order to differentiate... more
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By David P Shirk
Over the news we have been hearing about the idea of congress raising the debt ceiling. It has been pointed out that if it is not raised, then many entitlements will not be paid. On the flip side if the debt ceiling is to be raised even higher to cover the cost of all the programs that were promised, then there will be no way to meet that debt no matter what you raise taxes to. Indeed both of these options present some very serious problems.
If government entitlements and are not paid, and other contracts are not honored, then there is a very high chance that riots will indeed ensue when peoples dependency on receiving government checks is severed. However if the debt is raised to meet those contracts and entitlements for the coming year, then the amount of resulting debt extension will make the consequences for the following year more dire. Qe2 will not suffice as it still results in more government debt that we the people are bound as citizens to pay. Monetizing the debt (increasing the money supply to meet the debt), will only result in even greater damage for reasons to numerous to name.
Yet as serious as this problem sounds, it is at this point irrelevant. The amount of unfunded debt from 2010 going into this year (which is far more than merely raising the debt ceiling can cover) remains a problem that I have not even seen the news address yet (for more information on the exact amount and to whom it is owed, go to http://www.treasurydirect.gov/govt/reports/pd/pd.htm and for the exact breakdown, go to http://www.treasurydirect.gov/govt/reports/pd/feddebt/feddebt_dec10.pdf ). What you must keep in mind is that the number 4,624,007 is not expressed in the dollar amount, but rather in the millions, meaning that the real rolled over debt is 4,624,007,000,000 – 4.6 trillion.
Politicians on the hill have grown complacent to this number. After all, the same number at the end of 2008 was 4.3 trillion. So if we can continue to carry over debt from one year into the next without a catastrophe, why should they pay it any notice? Given this simple way of looking at things, it would seem like the debt can be allowed to simply continue to go up.
Yet here is the part that no politician wants to mention – how the debts were funded, and how were they rolled over. Heck, your average US subject would never even bother to go to http://www.treasurydirect.gov/govt/reports/pd/pd_sbredemptionsissuesbyseries.xls , and find out how this happens. This oversight of tracking how the debt is funded is what will cause the catastrophe. If you want a real jaw dropper as to the impending danger of what is happening, I encourage you to open the link. The amount of bonds outstanding (the money received by the government for the sale of the bonds), is not nearly enough to meet the debt rolled over from 2010 into 2011, let alone to fund this year’s budget. This is why the raising of the debt ceiling is irrelevant. The outstanding debt was 4.6 trillion – the amount of bonds it had to back it was only about 2.2 trillion, meaning that for the first time, we have 2.4 trillion dollars of debt, and absolutely no way to answer it.
In 2008 people like Peter Schiff, Gerald Celente, and Ron Paul warned of this danger. Yet so blind are most people to the nation’s economy, they laughed at them. The three people I just mentioned attempted to break the problem down into laymans terms knowing that most people would be lost if they dug into the specifics – and because people attack what they do not understand, they mocked them. The sad reality is that people missed the point of their arguments completely, and what is coming very soon is the result.
Yet those 3 (amongst many others) made 1 last warning knowing that the spending of government would not slow – and that was the danger of monetizing the debt. Monetizing the debt would mean that the FED would simply print the money into existence. Outside of running the very high risk of creating hyperinflation, there is of course another danger.
The Federal Reserve is not a government entity. It is a private banking institution owned by people who have little to do with our government. Their sole responsibility was to create a ....
http://www.peacefreedomprosperity.com/?p=3872By David P Shirk
Over the news we have been hearing about the idea of congress... more
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