Tuesday, September 30, 2008

The Bankers' Woes and Yours Too Pt. 1

In case you missed this enlightening piece over at American Zombie, which is a must see, I'm putting this info that was sent to me yesterday in here verbatim with all his links intact. The piece at Zombie's is informative, fascinating, and long. I watched it in increments. What amazed me was that we had never been taught this in our history classes (and I was a history major for a while). Here I am, into my 50's and I really thought the Federal Reserve was "federal" and was a "reserve." Silly me. If we're going to use taxpayer money to bail someone out, how about bailing out the taxpayers. We could probably refinance all those mortgages that are in trouble, let those folks keep their homes, and ya know, the banks would still get their money eventually. Let the banks that made the bad deals slide into oblivion, that's what they'd do to us. The taxpayers' money is just that, the TAXPAYERS money. Let's help out some taxpayers with the 700 billion they're talking about. That, btw, is a figure I can't even wrap my mind around.

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.


Cade said...

Myths which have been around a while:




Dambala said...

Reality: The meeting did take place, but it was not a secret. Congress rejected the plan for a central banking system that came out of this meeting. The control over monetary policy was given to the Federal Reserve Board, a government body, not to banks.

Real Reality: The federal reserve board is not a government body...and who does the federal reserve answer to? The central bank which currently consists of ten private banks, most of which are not American

Reality: Federal and Supreme Court rulings have found the Federal Reserve to be constitutional, under the "necessary and proper" clause of the U.S. Constitution (Article I, Section 8, clause 19).

Real Reality: The supreme court also gave George Bush the presidency in 2000...that doesn't mean they were right. Read the Consititution your self....the 16th amendment ratifies a federal income tax and hence the federal reserve...but the original Constitution also states that no tax shall be instituted on the people without consensus....we never voted on it nor did we vote to relinquish the right to eliminate our right to vote.

Reality: The member banks in each district privately own each of the 12 Federal Reserve banks. However, the government-appointed Board of Governors controls these banks. Also, the Federal Reserve System rebates almost all of its profits to the Treasury each year, actually REDUCING the taxpayer burden.

Real Reality: yes the board is appointed by the government...BUT THE GOVERNMENT HAS NO LEGAL OVERSIGHT OF THEM. They act with impunity and Congress has no idea what they are doing and there has never been an audit of the FR in it's history.

Reality: This is my personal favorite. Kennedy actually wanted to phase out silver certificates, and agreed with the Federal Reserve on most policy matters. He actually favored legislation to give the Fed more power, not less.

Real Reality: Then why did he sign executive order 11110 which restored the government the power to issue it's own currency?

Anonymous said...

The Federal Reserve is Guilty of Helping Create the Global Financial Meltdown

Many investors and concerned citizens around the world are showing their outrage at what the Federal Reserve has done to the American economy with their easy money policies which caused the credit & real estate bubble and subsequent global financial meltdown.

Join the thousands who are signing & commenting on the Abolish the Federal Reserve Petition at http://www.petitiononline.com/fed/petition.html