And btw, while never having maintained that I was an economics genius, I am nevertheless amazed to learn how stupid I really am in this sphere.
Below is a piece sent to me yesterday. It's basically the same information the piece at Zombie's has, although not as thorough.
Have you had enough yet?
Much has been written, dissected, and discussed about the current US money market meltdown.It is the greatest swindle in history, the intentional conversion of real assets (land, houses) to fictional assets (numbers in a banking system computer).
Fact #1 – The US Federal Reserve is neither Federal, nor has reserves. It is a PRIVATE institution owned by foreign bankers. They are: 1) Rothschild Banks of London and Berlin; 2) Lazard Brothers Banks of Paris; 3) Israel Moses Seif Banks of Italy; 4) Warburg Bank of Hamburg and Amsterdam; 5) Lehman Brothers of New York; 6) Kuhn, Loeb Bank of New York (Now Shearson American Express); 7) Goldman, Sachs of New York. Source: Secrets of the Federal Reserve by Eustace Mullins, 1952 & 1993.
Mullins was the first researcher to find out who owns the Federal Reserve. It was first published in 1952. In 1955 a German edition was seized and all 10,000 copies were burned, the only book that has been burned in Germany since WWII. Used copies are for sale at abebooks.com
Fact #2 – The Federal Reserve Act of 1913 stipulates that the shareholders of the Bank are to be kept secret, and that it is NOT subject to audits. It has never been audited. Another good book is “The Creature from Jekyll Island” by Edward Griffin. Buy it at his web site: realityzone.com. There is a free 42 minute video: here. A great video that takes you through the rise, and fall, of the previous four private central banks in the U.S.: The Money Masters. It’s an absolutely riveting production. It’s on Google Video, or buy the DVD at his web site: themoneymasters.com.
Fact #3 - This is not the first private bank in the US. The US has had 4 previous private, FOR PROFIT central banks. President Andrew Jackson’s re-election platform was, “Abolish the Bank!” The current is the longest-running one, however, from 1913 to the present date. How much longer will it last? Depends how many people are protesting: this Business Week article suggests.
Fact #4 – The Federal Reserve is NOT part of the U.S, government! Go to the library and open a white city of New York phone book. See the blue pages in the back? That’s for government listings. The Federal Reserve Bank of New York is not listed in there. It’s listed in the white pages. So why are American taxpayers, and not the Federal Reserve, left with the debt?
Fact #5 – The media is not telling the truth. Last week when the world’s largest insurer, AIG, was bailed out, media such as The Wall Street Journal reported that, “The U.S. government seized control of American International Group Inc. -- one of the world's biggest insurers -- in an $85 billion deal”: article here. No, the shares of AIG were transferred to the Governors of the Federal Reserve Bank of New York, NOT the U.S. Government. Here is the Securities and Exchange Commission filing showing this: here.
Fact #6 – All the shareholders in the Federal Reserve are in business together, not against each other. Right now they’re either buying their competitors cheap, or asking the US taxpayer to prop up their own companies.
Fact #7 – Lehman was bought by Barclay’s for $1.35 billion. (Buy your own for a fire sale price). Rothschild has links to Lehmans, the Federal Reserve, and Barclays. Heck, it was his idea to set up the U.S. Federal Reserve!
Fact #8 - JP Morgan bought out a competitor, Bear Stearns in March 2008. It could have waited and paid less, but no matter; the Fed has now lent $29 billion to Stearns in a non-recourse loan. This means the loan is collateralized by mortgage debt and that the government cannot seize JP Morgan’s assets if the mortgage debt collateral comes insufficient to repay the loan. So, if mortgages fail, US taxpayers get saddled with the debt.
Fact #9 - This morning JP Morgan bought WaMu (Washington Mutual), another former
competitor, for $1.9 billion. Starting to see a pattern?
Fact #10 – When Lehman failed their debt to asset ratio was 30 to 1.
Fact #11 – Canadian banks, since 1991, are no longer required to do fractional banking. In other words, they can “create” as much money as they liked. In the old days they were restricted to lending, let’s say, 10 times what they had in customer’s deposits and other assets. Who got this passed? Why, Brian Mulroney. (This was never in the news.)
Fact #12 – The Bank of Canada, of which all shares are owned by the Minister of Finance, are all non-voting shares. So, if you own all the shares, but have no vote, who’s in control? Not the Canadian government. Source: Deliberately in Debt, by Nora Galenzoski.
Fact #13 – The Ottawa phone book shows the Bank of Canada listed in the white pages, and not under the blue government pages. The Bank of Canada is not part of the Canadian government.
Fact #14 – The 1984 U.S Grace Commission Report, requested by Ronald Reagan, said, 100% of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.” Source: here.
Fact #15 – Canada’s debt in 1992 was $423 billion. Of this, the principal was $37 billion. The rest, or $386 billion, was interest.
Source: Canada’s 1993 Auditor General’s Report
I feel so stupid. How come we didn't know this stuff? How come we weren't TAUGHT this stuff?
Part 2 tomorrow.
Bailout Federal Reserve American Zombie