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ELITE'S "Federal Reserve" MONOPOLY CENTRAL BANKING RACKET
by brishon on |
(6.10.09)
HR 1207 to Audit the Fed is Gaining Momentum FAST - Up to 222 Co-Sponsors!
[SEE SHELLY ROCHE ON THIS AT:] http://www.youtube.com/watch?v=UlXUFlQIUBA&eurl=http%3A%2F%2Fwhatreallyhappened.com%
2F&feature=player_embedded
+++++ Ron Paul's Audit the Fed Bill Passes 218 Cosponsors!! ...
Ron Paul's Audit the Fed bill, HR 1207, gaining the support of a majority of the House of Representatives! Just moments ago, Dr. Paul's congressional office issued a press release announcing that HR 1207 had received its 218th cosponsor, and that the list has now grown to 222! ~~~~~ DR. LEONARD PEIKOFF: "...If a government [ELITES] takes control of money and credit -- which is what a central banking system [DOES] -- that means it has it's hands on the literal lifeblood of the economy and there's only a short distance from that and complete socialism... There is no function for any such system... In a completely free society, there should be COMPLETE SEPARATION OF STATE AND MONEY..." ~~~~~ DAVID ROCKEFELLER (10.9.01): (WITH HIS BROTHER NELSON, HE WAS THE PRIME BUILDER AND OWNER (UNTIL A FEW MONTHS BEFORE 911) OF THE WORLD TRADE CENTER; CHAIRMAN EMERITUS OF THE COUNCIL ON FOREIGN RELATIONS (CFR); AND CEO AND CHAIRMAN OF THE BOARD OF CHASE MANHATTAN BANK.) "We are on the verge of a global transformation. All we need is *THE RIGHT MAJOR CRISIS* and the nations will accept the New World Order." ~~~~~THOMAS JEFFERSON: "The Central Bank is an institution of the most deadly hostility existing against the principles and form of our Constitution...if the American people 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." ~~~~~ Georgetown professor Dr. Carroll Quigley (Bill Clinton's mentor while at Georgetown) wrote about the goals of the investment bankers who control central banks: [QUIGLEY:] "... nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole... controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences." ~~~~~ JOHN OLAGUES: "...The bankers have discovered a way to force the people of America and the world into an intense form of debt slavery and that is the reason for their reckless past lending practices, credit cards for all and now this massive Wall Street Bankers Bail-Out. In the past, only wars created that amount of national debt. But now those debt creating war mongers have found the more friendly face of... [ENSLAVING MANKIND.] ~~~~~ "The History of the House of Rothschild " BY ANDREW HITCHCOCK : "... MAYER AMSCHEL ROTHSCHILD (1790): "Let me issue and control a nation's money and I care not who writes the laws." ... 1811: The charter for the Rothschilds Bank of the United States runs out and Congress votes against its renewal. Nathan Mayer Rothschild is not amused and he states, "Either the application for renewal of the charter is granted, or the United States will find itself involved in a most disastrous war." ... 1942: Prescott Bush, father of future American Presidents' George Herbert Walker and George W, has his company seized under the, "Trading With The Enemy," Act. He was funding Hitler from America, whilst American soldiers were being killed by German soldiers. Jews are also being slaughtered by these same soldiers. Interestingly the ADL never criticizes any of the Bushes for this. ... [1944] In Bretton Woods, New Hampshire, two further Rothschild world banks are created. The International Monetary Fund (IMF), and the World Bank. ... However the United States stands firm and the Charter is not renewed, which causes Nathan Mayer Rothschild to issue another threat, "Teach those impudent Americans a lesson. Bring them back to colonial status." ... 1812: Backed by Rothschild money, and Nathan Mayer Rothschild 's orders, the British declare war on the United States. The Rothschilds plan was to cause the United States to build up such a debt in fighting this war that they would have to surrender to the Rothschilds and allow the charter for the Rothschild owned First Bank of the United States to be renewed. ... 1816: The American Congress passes a bill permitting yet another Rothschild dominated central bank, which gives the Rothschilds control of the American money supply again. This is called the Second Bank of the United States and is given a twenty year charter. The British war against the America therefore ends with the deaths of thousands of British and American soldiers, but the Rothschilds get their bank. ... NATHAN MAYER ROTHSCHILD (1815) "I care not what puppet is placed upon the throne of England to rule the Empire on which the sun never sets. The man who controls Britain's money supply controls the British Empire, and I control the British money supply.". ... 1821: Kalmann (Carl) Mayer Rothschild was sent to Naples, Italy. He would end up doing a lot of business with the Vatican and Pope Gregory XVI subsequently conferred upon him the Order of St. George. Also, whenever the Pope received Kalmann, he would give him his hand rather than the customary toe to kiss, which showed the extent of Kalmann's power over the Vatican. ... 1823: The Rothschilds take over the financial operations of the Catholic Church, worldwide. ~~~ 1832: President Andrew Jackson (the 7th President of the United States from 1829 to 1837), runs the campaign for his second term in office under the slogan, "Jackson And No Bank!" This is in reference to his plan to take the control of the American money system to benefit the American people, not for the profiteering of the Rothschilds. ... 1833: President Andrew Jackson starts removing the government's deposits from the Rothschild controlled, Second Bank of the United States and instead deposits them into banks directed by democratic bankers. This causes the Rothschilds to panic and so they do what they do best, contract the money supply causing a depression. President Jackson knows what they are up to and later states, "You are a den of thieves vipers, and I intend to rout you out, and by the Eternal God, I will rout you out.". ... 1835: On January 30, an assassin tries to shoot President Jackson, but miraculously both of the assassin's pistols misfired. President Jackson would later claim that he knew the Rothschilds were responsible for that attempted assassination. ... 1836: Following his years of fighting against the Rothschilds and their central bank in America, President Andrew Jackson finally succeeds in throwing the Rothschilds central bank out of America, when the bank's charter is not renewed. It would not be until 1913 that the Rothschilds would be able to set up their third central bank in America, the Federal Reserve, and to ensure no mistakes are made, this time they will put one of their own bloodline, Jacob Schiff, in charge of the project. ... 1841: President John Tyler (the 10th President of the United States From 1841 to 1845) vetoed the act to renew the charter for the Bank of the United States. He goes on to receive hundreds of letters threatening him with assassination. ... 1845: The Great American Patriot, Andrew Jackson (7th President of the United States) dies. Before his death he is asked what he regarded his as greatest achievement. He replies without hesitation, "I Killed The Bank,". ... 1848: Karl Marx, an Ashkenazi Jew, publishes, "The Communist Manifesto." Interestingly at the same time as he is working on this, Karl Ritter of Frankfurt University was writing the antithesis which would form the basis for Freidrich Wilhelm Nietzsche's, "Nietzscheanism." This Nietzecheanism was later developed into Fascism and then into Nazism and was used to forment the first and second world wars. Marx, Ritter, and Nietzsche were all funded and under the instruction of the Rothschilds. The idea was that those who direct the overall conspiracy could use the differences in those two so-called ideologies to enable them to divide larger and larger factions of the human race into opposing camps so that they could be armed and then brainwashed into fighting and destroying each other, and particularly, to destroy all political and religious institutions. The same plan put forward by Weishaupt in 1776. ... 1861: President Abraham Lincoln approaches the big banks in New York to try to obtain loans to support the ongoing American civil war...these large banks were heavily under the influence of the Rothschilds, they offer him a deal they know he cannot accept, 24% to 36% interest on all monies loaned. Lincoln... prints his own debt free money and informs the public that this is now legal tender for both public and private debts. ... 1862: By April $449,338,902 worth of Lincoln's debt free money has been printed and distributed...That same year The Times of London publishes a story containing the following statement, "If that mischievous financial policy, which had its origin in the North American Republic, should become indurated down to a fixture, then that government will furnish its own money without cost. It will pay off debts and be without a debt. It will have all the money necessary to carry on its commerce. It will become prosperous beyond precedent in the history of civilized governments of the world. The brains and the wealth of all countries will go to North America. That government must be destroyed or it will destroy every [*]monarchy[*] on the globe.". ... 1863: President Abraham Lincoln discovers the Tsar of Russia, Alexander II (1855-1881), was having problems with the Rothschilds as well as refusing their continual attempts to set up a central bank in Russia. The Tsar then gives President Lincoln some unexpected help. The Tsar issued orders that if either England or France actively intervened in the American Civil War, and help the South, Russia would consider such action a declaration of war, and take the side of President Lincoln. To show that he wasn't messing about, he sent part of his Pacific Fleet to port in San Francisco and another part to New York. ... [ALSO IN 1863] The Rothschilds use one of their own in America, John D. Rockefeller, to form an oil business called Standard Oil which eventually takes over all of its competition. ... 1865: In a statement to Congress, President Abraham Lincoln states, "I have two great enemies, the Southern Army in front of me, and the financial institutions in the rear. Of the two, the one in my rear is my greatest foe.". ... [ALSO IN 1865] Following a brief training period in the Rothschilds London Bank, Jacob Schiff, a Rothschild , born in their house in Frankfurt, arrives in America at the age of 18, with instructions and the finance necessary to buy into a banking house there. ... 1871: An American General named, Albert Pike...who...[WAS] elected as Sovereign Grand Commander of the Scottish Rite of Freemasonry's Southern Jurisdiction in 1859, was the most powerful Freemason in America... [HE] had been enticed into the Illuminati by Guissepe Mazzini, completes his military blueprint for three world wars and various revolutions throughout the world, culminating into moving this great conspiracy into its final stage. The first world war is to be fought for the purpose of destroying the Tsar in Russia,as promised by Nathan Mayer Rothschild in 1815. The Tsar is to be replaced with communism...The differences between the British and German empires are to be used to forment this war. The second world war is to be used to forment the controversy between facism and political zionism with the slaughter of Jews in Germany a lynchpin in bringing hatred against the German people. This is designed to destroy fascism (which the Rothschilds created) and increase the power of political zionism...This war is also designed to increase the power of communism to the level that it equaled that of united Christendom. ... 1875: On January 1 of this year Jacob Schiff, now Solomon Loeb's son-in-law after marrying his daughter, Teresa, takes control of the banking house, Kuhn, Loeb & Co. He goes on to finance John D. Rockefeller's Standard Oil Company, Edward R. Harriman's Railroad Empire, and Andrew Carnegie's Steel Empire. This is all with Rothschild money. He then identifies the other largest bankers in America at that time. They are, J.P. Morgan who controls Wall Street, and the Drexels and the Biddles of Philadelphia. All the other financiers, big and little, danced to the music of those three houses. Schiff then gets the European Rothschilds to set up European branches of these three large banks on the understanding that Schiff, and therefore Rothschild , is to be the boss of banking in New York and therefore America...This year [1875] Lionel De Rothschild also loans Prime Minister Benjamin Disraeli the finance for the British government to purchase the shares in the Suez Canal, from Khedive Said of Egypt. This was done as the Rothschilds needed this access route to be held by a government they controlled, so they could use that government's military to protect their huge business interests in the Middle East. ... 1876: Otto von Bismarck states, "The division of the United States into two federations of equal force was decided long before the civil war by the high financial power of Europe. These bankers were afraid that the United States, if they remained in one block and as one nation, would attain economical and financial independence, which would upset their financial domination over the world. The voice of the Rothschilds predominated. They foresaw the tremendous booty if they could substitute two feeble democracies, indebted to the financiers, to the vigorous Republic, confident and self-providing. Therefore they started their emissaries in order to exploit the question of slavery and thus dig an abyss between the two parts of the Republic." ... 1881: President James A. Garfield (The 20th President of the United States who lasted only 100 Days) states two weeks before he is assassinated, "Whoever controls the volume of money in our country is absolute master of all industry and commerce.and when you realize that the entire system is very easily controlled, one way or another, by a few powerful men at the top, you will not have to be told how periods of inflation and depression originate." ... 1885: Nathaniel Rothschild , son of Lionel De Rothschild , becomes the first Jewish peer and is takes the title of Lord Rothschild . ... 1891: The British Labour Leader makes the following statement on the subject of the Rothschilds, "This blood-sucking crew has been the cause of untold mischief and misery in Europe during the present century, and has piled up its prodigious wealth chiefly through fomenting wars between States which ought never to have quarrelled. Whenever there is trouble in Europe, wherever rumours of war circulate and men's minds are distraught with fear of change and calamity you may be sure that a hook-nosed Rothschild is at his games somewhere near the region of the disturbance." Comments like this worry the Rothschilds and towards the end of the 1800's they purchase Reuters news agency so they can have some control of the media. ... 1895: Edmond James de Rothschild the youngest son of Jacob (James) Mayer Rothschild visits Palestine and subsequently supplies the funds to found the first Jewish colonies there, this is to further their long term objective of creating a Rothschild owned country. ... [ALSO IN 1895] Edward Henry Harriman becomes a director of the Union Pacific Railroad and goes on to take control of the Southern Pacific Railroad. This is all financed by the Rothschilds. ... 1907: Rothschild , Jacob Schiff, the head of Kuhn, Loeb and Co., in a speech to the New York Chamber of Commerce, warns that, "Unless we have a Central Bank with adequate control of credit resources, this country is going to undergo the most severe and far reaching money panic in its history." Suddenly America finds itself in the middle of another typical run of the mill Rothschild engineered financial crisis, which ruins as usual ruins the lives of millions of innocent people throughout America and makes billions for the Rothschilds. ... 1911: Werner Sombart, in his book, "The Jews and Modern Capitalism," stated that from 1820 on, it was the, "Age of the Rothschild ," and concluded that there was, "Only one power in Europe, and that is Rothschild ." 1912: In the December issue of, "Truth," magazine, George R. Conroy states of banker Jacob Schiff, "Mr Schiff is head of the great private banking house of Kuhn, Loeb, and co, which represents the Rothschilds interests on this side of the Atlantic. He has been described as financial strategist and has been for years the financial minister of the great impersonal power known as Standard Oil. He was hand in glove with the Harrimans, the Goulds, and the Rockefellers in all their railroad enterprises and has become the dominant power in the railroad and financial power of America." ... 1913: On March 4, Woodrow Wilson is elected the 28th President of the United States. Shortly after he is inaugurated, he is visited in the White House by Ashkenazi Jew, Samuel Untermyer, of law firm, Guggenheim, Untermyer, and Marshall, who tries to blackmail him for the sum of $40,000 in relation to an affair Wilson had whilst he was a professor at Princeton University, with a fellow professor's wife. President Wilson does not have the money, so Untermyer volunteers to pay the $40,000 out of his own pocket to the woman Wilson had had the affair with, on the condition that Wilson promise to appoint to the first vacancy on the United States Supreme Court a nominee to be recommended to President Wilson by Untermyer. Wilson agrees to this...the same year that they do this they also set up their last and current central bank in America, the Federal Reserve. Congressman Charles Lindbergh stated following the passing of the Federal Reserve Act on December 23, "The Act establishes the most gigantic trust on earth. When the President signs this Bill, the invisible government of the monetary power will be legalized.......The greatest crime of the ages is perpetrated by this banking and currency bill." ... (WOODROW WILSON: "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the civilized world. No longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and duress of a small group of dominant men.") ... It is important to note that the Federal Reserve is a private company, it is neither Federal nor does it have any Reserve. It is conservatively estimated that profits exceed $150 billion per year and the Federal Reserve has never once in its history published accounts. ... 1914: The start of World War I. In this war, the German Rothschilds loan money to the Germans, the British Rothschilds loan money to the British, and the French Rothschilds loan money to the French. Futhermore, the Rothschilds have control of the three European news agencies, Wolff (est. 1849) in Germany, Reuters (est. 1851) in England, and Havas (est. 1835) in France. The Rothschilds use Wolff to manipulate the German people into a fervour for war. From around this time, the Rothschilds are rarely reported in the media, because they own the media. ... 1916: On June 4, Ashkenazi Jew, Louis Dembitz Brandeis is appointed to the Supreme Court of the United States by President Wilson as per his agreed blackmail payment to Samuel Untermyer some three years earlier. Justice Brandeis is also the elected leader of the Executive Committee for Zionist Affairs, a position he has held since 1914. In the middle of World War I Germany was winning the war as they were being financed by the Rothschilds to a greater extent than France, Italy and England because the Rothschilds did not want to support the Tsar in Russia, and Russia was on the same side as France, Italy and England. Then a significant event occurred. Germany, although they were winning the war and not one foreign soldier had set foot on their soil, offered armistice to Britain with no requirement of reparations. The Rothschilds were anxious to make sure this didn't happen as they were expecting to make far more money off this war, so they played another card they had up their sleeve. Whilst the British were considering Germany's offer, Rothschild agent Louis Brandeis sent a Zionist delegation from America to Britain to promise to bring America into the war on the side of the British, provided the British agree to give the land of Palestine to the Rothschilds. The Rothschilds wanted Palestine for the following reason. They had great business interests in the far east and desired their own state in that area along with their own military which they could use as an [***]aggressor[***] to any state that threatened those interests. The British subsequently agree to the deal for Palestine and the Zionists in London contacted their counterparts in America and informed them of this fact. Suddenly all the major newspapers in America, that up to that point had been pro-German, turned on Germany running propaganda pieces such as: German soldiers were killing Red Cross Nurses; German soldiers were cutting off babies hands, etc, in order to manipulate the American public against the Germans. This same year, President Woodrow Wilson, ran a re-election campaign under the slogan, "Re-Elect The Man Who Will Keep Your Sons Out Of The War." On December 12, Germany and her allies offer peace terms to end the war. ... 1917: As a result of Germany's offer of peace the Rothschild war machine goes into overdrive in America, spreading propaganda which leads to President Wilson under the instructions of American Zionist leader and Supreme Court Justice, Louis Dembitz Brandeis, reneging on his promise to the electorate and taking America into the first world war on April 6. As per the Rothschild Zionist promise to the British, to take America into the war, they decide they want something in writing from the British to prove that they will uphold their side of the bargain. The British Foreign Secretary, Arthur James Balfour therefore drafts a letter which is commonly known as the, "Balfour Declaration," ... [ALSO IN 1917] U.S. Congressman Oscar Callaway informs Congress that J. P. Morgan is a Rothschild front and has taken control of the American media industry. He states, "In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press... ...They found it was only necessary to purchase the control of 25 of the greatest papers...An agreement was reached. The policy of the papers was bought, to be paid for by the month, an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers." ... 1921: Under the orders of Jacob Schiff the Council on Foreign Relations (CFR) is founded by Ashkenazi Jews, Bernard Baruch and Colonel Edward Mandell House. Schiff gave his orders prior to his death in 1920, as he knew an organisation in America needed to be set up to select politicians to carry on the Rothschild conspiracy,and the formation of the CFR was actually agreed in a meeting on May 30, 1919 at the Hotel Majestic in Paris, France. The CFR membership at the start was approximately 1000 people in the United States. This membership included the heads of virtually every industrial empire in America, all the American based international bankers, and the heads of all their tax free foundations. In essence all those people who would provide the capital required for anyone who wished to run for Congress, the Senate or the Presidency. The first job of the CFR was to gain control of the press. This task was given to John D. Rockefeller who set up a number of national news magazines such as Life, and Time. He financed Samuel Newhouse to buy up and establish a chain of newspapers all across the country, and Eugene Meyer also who would go on to buy up many publications such as the Washington Post, Newsweek, ant The Weekly Magazine. The CFR also needed to get control of radio, television and the motion picture industry. This task was split amongst the international bankers from, Kuhn Loeb, Goldman Sachs, the Warburgs, and the Lehmanns. ... 1929: The Rothschilds crash the United States economy by contracting the money supply. 1930: The first Rothschild world bank, the, "Bank for International Settlements (BIS)," is established in Basle, Switzerland. The same place as where 33 years earlier the first ever World Zionist Congress was held. ... 1945: The end of the Second World War. It is reported that I.G. Farben plants were specifically not targeted in the bombing raids on Germany. Interestingly at the end of the war, they were found to have only sustained 15% damage. The tribunals held at the end of the Second World War, to investigate Nazi War Crimes, censored any materials recording Western assistance to Hitler. The Rothschilds take a giant step towards their goal of world domination when the second, "League of Nations," called the, "United Nations," was approved this year. ... 1949: On October 1, Mao Tse Tsung declares the founding of the People's Republic Of China in Tiananmen Square, Beijing. He is funded by Rothschild created Communism in Russia and also the following Rothschild agents: Solomon Adler, a former United States Treasury official who was a Soviet Spy; Israel Epstein, the son of a Jewish Bolshevik imprisoned by the Tsar in Russia for trying to forment a revolution there; and Frank Coe, a leading official of the Rothschild owned IMF. ... 1951: On 1 April the Israeli Secret Intelligence Agency the Mossad, which will go on to terrorize the world, is formed. The motto of the Mossad is probably the most disgusting secret service motto in the world, it is, "By Way Of Deception, Thou Shalt Do War." ... [IN 1962]...Frederic Morton publishes his book, The Rothschilds, in which he states, "Though they control scores of industrial, commercial, mining and tourist corporations, not one bears the name Rothschild . Being private partnerships, the family houses never need to, and never do, publish a single public balance sheet, or any other report of their financial condition." This attitude reveals the true aim of the Rothschilds, to eliminate all competition and create their own worldwide monopoly. 1963: On June 4th President John F. Kennedy (the 35th President of the United States 1961 - 1963) signs Executive Order 11110 which returned to the U.S. government the power to issue currency, without going through the Rosthchilds owned Federal Reserve. Less than 6 months later on November 22nd , president Kennedy is assassinated by the Rothschilds for the same reason as they assassinated President Abraham Lincoln in 1865, he wanted to print American money for the American people, as oppose to for the benefit of a money grabbing war mongering foreign elite. This Executive Order 11110, is rescinded by President Lyndon Baines Johnson (the 36th President of the United States 1963 to 1969) on Air Force One from Dallas to Washington, the same day as President Kennedy was assassinated. Another, and probably the primary, reason for Kennedy's assassination is however, the fact that he made it quite clear to Israeli Prime Minister, David Ben-Gurion, that under no circumstances would he agree to Israel becoming a nuclear state. The Israeli newspaper Ha'aretz on February 5, 1999, in a review of, Avner Cohen's book, "Israel and the Bomb," states the following, "The murder of American President John F. Kennedy brought to an abrupt end the massive pressure being applied by the U.S. administration on the government of Israel to discontinue the nuclear program...The book implied that, had Kennedy remained alive, it is doubtful whether Israel would today have a nuclear option." ... 1980: The global phenomenon of privatisation starts. The Rothschilds are behind this from the very beginning in order to seize control of all publicly owned assets worldwide. ... [1985] N. M. Rothschild & Sons advise the British government on the privatisation of British Gas. They subsequently advise the British government on virtually all of their other privatisations of state owned assets including: British Steel; British Coal; all the British regional electricity boards; and all the British regional water boards. A British MP heavily involved in these privatisations is future Chancellor of the Exchequer, Norman Lamont, a former Rothschild banker.
FANTASTIC VIDEO EXPLAINING BRIEFLY HOW THE ELITE'S RAN THE SUBPRIME LOANING/SECURITIES RACKET AT: [www.youtube.com]
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SLATE/WRH:
Fed Dread
The New York Fed is the most powerful financial institution you've never heard of. Look who's running it.
By Eliot Spitzer
May 6, 2009
U.S. Treasury Secretary Timothy Geithner. Click image to expand.U.S. Treasury Secretary Timothy Geithner The kerfuffle about current New York Federal Reserve Bank Chairman Stephen Friedman's purchase of some Goldman stock while the Fed was involved in reviewing major decisions about Goldman's future-well-covered by the Wall Street Journal here and here-raises a fundamental question about Wall Street's corruption. Just as the millions in AIG bonuses obscured the much more significant issue of the $70 billion-plus in conduit payments authorized by the N.Y. Fed to AIG's counterparties, the small issue of Friedman's stock purchase raises very serious issues about the competence and composition of the Federal Reserve of New York, which is the most powerful financial institution most Americans know nothing about.
A quasi-independent, public-private body, the New York Fed is the first among equals of the 12 regional Fed branches. Unlike the Washington Federal Reserve Board of Governors, or the other regional fed branches, the N.Y. Fed is active in the markets virtually every day, changing the critical interest rates that determine the liquidity of the markets and the profitability of banks. And, like the other regional branches, it has boundless power to examine, at will, the books of virtually any banking institution and require that wide-ranging actions be taken-from raising capital to stopping lending-to ensure the stability and soundness of the bank. Over the past year, the New York Fed has been responsible for committing trillions of dollars of taxpayer money to resuscitate the coffers of the banks it oversees.
Given the power of the N.Y. Fed, it is time to ask some very hard questions about its recent performance. The first question to ask is: Who is the New York Fed? Who exactly has been running the show? Yes, we all know that Tim Geithner was the president and CEO of the N.Y. Fed from 2003 until his ascension as treasury secretary. But who chose him for that position, and to whom did he report? The N.Y. Fed president reports to, and is chosen by, the Fed board of directors.
So who selected Geithner back in 2003? Well, the Fed board created a select committee to pick the CEO. This committee included none other than Hank Greenberg, then the chairman of AIG; John Whitehead, a former chairman of Goldman Sachs; Walter Shipley, a former chairman of Chase Manhattan Bank, now JPMorgan Chase; and Pete Peterson, a former chairman of Lehman Bros. It was not a group of typical depositors worried about the security of their savings accounts but rather one whose interest was in preserving a capital structure and way of doing business that cried out for-but did not receive-harsh examination from the N.Y. Fed.
The composition of the New York Fed's board, which supervises the organization and current Chairman Friedman, is equally troubling. The board consists of nine individuals, three chosen by the N.Y. Fed member banks as their own representatives, three chosen by the member banks to represent the public, and three chosen by the national Fed Board of Governors to represent the public. In theory this sounds great: Six board members are "public" representatives.
So whom have the banks chosen to be the public representatives on the board during the past decade, as the crisis developed and unfolded? Dick Fuld, the former chairman of Lehman; Jeff Immelt, the chairman of GE; Gene McGrath, the chairman of Con Edison; Ronay Menschel, the chairwoman of Phipps Houses and also, not insignificantly, the wife of Richard Menschel, a former senior partner at Goldman. Whom did the Board of Governors choose as its public representatives? Steve Friedman, the former chairman of Goldman; Pete Peterson; Jerry Speyer, CEO of real estate giant Tishman Speyer; and Jerry Levin, the former chairman of Time Warner. These were the people who were supposedly representing our interests!
Of course, there have been the occasional nonfinance representatives from academia and labor. But they have been so outnumbered that their presence has done little to alter the direction of the board.
So is it any wonder that the N.Y. Fed has been complicit in the single greatest bailout of poorly managed banks in history? Any wonder that it has given-with virtually no strings attached-practically the entire contents of the Treasury to the very banks whose inability to manage risk has brought our economy to its knees? Any wonder that not a single CEO or senior executive of a major bank has been removed as a condition of hundreds of billions of direct cash and guarantees? Any wonder that, despite its [SUPPOSED] fundamental responsibility to preserve the integrity of the banking system, it sat quietly on the sidelines as the leverage beneath the banks exploded and the capital underlying their investments shrank?...
Perhaps it is time to calculate what these board members have been paid by their banks in salary and bonuses over the years and seek to have them return it to the public as small compensation for their failed oversight of the N.Y. Fed. And more fundamentally, perhaps it is time to take a hard look at the governing structure and supposed independence of this institution that actually controls the use of our tax dollars and, heaven help us, the fate of our economy.
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LUDWIG VON MISES INSTITUTE/WHAT REALLY HAPPENED.COM:
The Corrupt Origins of Central Banking
by Thomas J. DiLorenzo
11/5/2008
Central banking has been a corrupt, mercantilist scheme and an engine of corporate welfare from its very beginning in the late 18th century. The first central bank, the Bank of North America, was "driven through the Continental Congress by [congressman and financier] Robert Morris in the Spring of 1781," wrote Murray Rothbard [WHO I DON'T SUPPORT/LIKE] in The Mystery of Banking (p. 191). The Philadelphia businessman Morris had been a defense contractor during the Revolutionary War who "siphoned off millions from the public treasury into contracts to his own . firm and to those of his associates." He was also "leader of the powerful Nationalist forces" in the new country.
The main objective of the Nationalists, who were also known as Federalists, was essentially to establish an American version of the British mercantilist system, the very system that the Revolution had been fought against. Indeed, it was this system that the ancestors of the Revolutionaries had fled from when they came to America. As Rothbard explained, their aim was
To reimpose in the new United States a system of mercantilism and big government similar to that in Great Britain, against which the colonists had rebelled. The object was to have a strong central government, particularly a strong president or king as chief executive, built up by high taxes and heavy public debt. The strong government was to impose high tariffs to subsidize domestic manufacturers, develop a big navy to open up and subsidize foreign markets for American exports, and launch a massive system of internal public works. In short, the United States was to have a British system without Great Britain. (p. 192)
An important part of the "Morris scheme," as Rothbard called it, was "to organize and head a central bank, to provide cheap credit and expanded money for himself and his allies. The . Bank of North America was deliberately modeled after the Bank of England." The Bank was given a monopoly privilege of its notes being receivable in all tax payments to state and federal government, and no other banks were permitted to operate in the country. It "graciously agreed to lend most of its newly created money to the federal government," wrote Rothbard, and "the hapless taxpayers would have to pay the Bank principal and interest."
Despite these monopolistic privileges, a lack of public confidence in the Bank's inflated notes led to their depreciation and the Bank was privatized by the end of 1783. But Morris did not give up on his scheme. He recruited a young Alexander Hamilton to serve more or less as his political puppet within the Washington administration. (Rothbard called Hamilton "Morris's youthful disciple.") In fact, the reason why Hamilton became Treasury secretary, despite having no reputation at all in the field of finance, was the recommendation by Morris to George Washington. (During the Revolutionary War, when he was an aide to Washington, Hamilton took the time to write Morris a 30-page letter proclaiming that he agreed with every one of his ideas about protectionist tariffs, corporate subsidies, and a government-run bank to finance them.)
Morris and his fellow Nationalists wanted a king-like chief executive who would rule over a mercantilist empire, just as the king of England ruled over his mercantilist empire. They, of course, would be the ones to advise and instruct the "king" and benefit financially from such an empire. So their young protégé Hamilton commenced his seven-year crusade to overthrow the first US constitution - the Articles of Confederation - by calling for a new constitutional convention to supposedly "revise" the Articles of Confederation. At the convention, Hamilton laid out his (really Morris's) plan: a permanent president who would appoint all the governors and who would have veto power over all state legislation. Under such a plan, state sovereignty would have been destroyed, and there would have been no escape from the central government's high taxes, protectionist tariffs, heavy debt, and foreign-policy imperialism - the agenda of the Nationalists.
The Hamilton/Morris plan was defeated, of course, as was the proposal made at the convention to include a central bank among the delegated powers to the federal government. But the government was more highly centralized, as "the Nationalist forces pushed through a new Constitution" and "were on their way to re-establishing the mercantilist and statist British model." (p. 193). They begrudgingly acquiesced in a Bill of Rights in return for the anti-Federalists' support for the new Constitution. And most importantly, writes Rothbard,
A critical part of their program was put through in 1791 by their leader, Secretary of the Treasury, Alexander Hamilton, a disciple of Robert Morris. Hamilton put through Congress the First Bank of the.. United States.. modeled after the old Bank of North America [whose]..longtime president and former partner of Robert Morris, Thomas Willing of Philadelphia, was made president of the New Bank.
In making his case to President Washington for the constitutionality of a central bank, which had been explicitly rejected at the constitutional convention, Hamilton invented the idea of "implied powers" of the Constitution. These were "powers" that were not expressly delegated to the federal government in the document, but could be "implied" by clever lawyers like Hamilton. This of course became a roadmap for the total destruction of constitutional limitations on the powers of the federal government.
The First Bank of the United States "promptly fulfilled its inflationary potential," Rothbard writes in his History of Money and Banking in the United States (p. 69). It issued millions of dollars in paper money and demand deposits "pyramiding on top of $2 million in specie." The Bank invested heavily in the US government, and "The result of the outpouring of credit and paper money by the new Bank of the United States was . an increase [in prices] of 72 percent" from 1791-1796.
Northern merchants provided the main political support for Hamilton's Bank, whereas southern politicians like Jefferson supplied most of the opposition to it, seeing it as nothing more than a vehicle for financing an American version of the corrupt British mercantilist system, which would be destructive of liberty and prosperity. They were right, of course, and remain right to this day.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
WHAT REALLY HAPPENED.COM:
Debt Slavery is the Real Reason Behind the Bail-Out
So the question is whether the extra money supply from the Bail-Out will reach the consumer/taxpayer. The sad answer is that very little will. Almost the entire Bail-Out will go to the banks and insurance companies, where it is intended to go. Its purpose is to secure holders of bank bonds, the holders of credit default swaps guaranteed by investment banks and insurance companies and secure past and future excessive executive compensation paid by those banks and insurance companies...
***
MIKE RIVERO:
We do not have a credit crisis. We have a repayment crisis. and The US Government could end it in a heartbeat by simply cutting all taxes 50% across the board. Yes, we would have to do without certain things, like killing [ANOTHER MILLION+] Iraqis, but a massive tax cut would revive the economy instantly.
Of course, government never cuts taxes by more than symbolic amounts, so instead the government's solution to the repayment crisis is to take MORE money from us and give it to the banks ... [WHO SAY THEY WILL] loan back us at interest! [TO US AND THEN DON'T.]
Such a deal!
~~~~~~~~~~~~~~~~~~~~
NEWS FROM THE WEST/WRH:
May 16, 2008
Who Owns the Federal Reserve?
Chart of who "owns" the Federal Reserve
Chart 1
Federal Reserve Directors: A Study of Corporate and Banking Influence
Published 1976
Chart 1 reveals the linear connection between the Rothschilds and the Bank of England, and the London banking houses which ultimately control the Federal Reserve Banks through their stockholdings of bank stock and their subsidiary firms in New York. The two principal Rothschild representatives in New York, J. P. Morgan Co., and Kuhn,Loeb & Co. were the firms which set up the Jekyll Island Conference at which the Federal Reserve Act was drafted, who directed the subsequent successful campaign to have the plan enacted into law by Congress, and who purchased the controlling amounts of stock in the Federal Reserve Bank of New York in 1914. These firms had their principal officers appointed to the Federal Reserve Board of Governors and the Federal Advisory Council in 1914. In 1914 a few families (blood or business related) owning controlling stock in existing banks (such as in New York City) caused those banks to purchase controlling shares in the Federal Reserve regional banks. Examination of the charts and text in the House Banking Committee Staff Report of August, 1976 and the current stockholders list of the 12 regional Federal Reserve Banks show this same family control.
N.M. Rothschild , London - Bank of England
______________________________________
| |
| J. Henry Schroder
| Banking | Corp.
| |
Brown, Shipley - Morgan Grenfell - Lazard - |
& Company & Company Brothers |
| | | |
--------------------| -------| | |
| | | | | |
Alex Brown - Brown Bros. - Lord Mantagu - Morgan et Cie -- Lazard ---|
& Son | Harriman Norman | Paris Bros |
| | / | N.Y. |
| | | | | |
| Governor, Bank | J.P. Morgan Co -- Lazard ---|
| of England / N.Y. Morgan Freres |
| 1924-1938 / Guaranty Co. Paris |
| / Morgan Stanley Co. | /
| / | \Schroder Bank
| / | Hamburg/Berlin
| / Drexel & Company /
| / Philadelphia /
| / /
| / Lord Airlie
| / /
| / M. M. Warburg Chmn J. Henry Schroder
| | Hamburg --------- marr. Virginia F. Ryan
| | | grand-daughter of Otto
| | | Kahn of Kuhn Loeb Co.
| | |
| | |
Lehman Brothers N.Y -------------- Kuhn Loeb Co. N. Y.
| | --------------------------
µ
| | | |
8
| | | |
Lehman Brothers - Mont. Alabama Solomon Loeb Abraham Kuhn
| | __|______________________|_________
Lehman-Stern, New Orleans Jacob Schiff/Theresa Loeb Nina Loeb/Paul Warburg
------------------------- | | |
| | Mortimer Schiff James Paul Warburg
_____________|_______________/ |
| | | | |
Mayer Lehman | Emmanuel Lehman \
| | | \
Herbert Lehman Irving Lehman \
| | | \
Arthur Lehman \ Phillip Lehman John Schiff/Edith Brevoort Baker
/ | Present Chairman Lehman Bros
/ Robert Owen Lehman Kuhn Loeb - Granddaughter of
/ | George F. Baker
| / |
| / |
| / Lehman Bros Kuhn Loeb (1980)
| / |
| / Thomas Fortune Ryan
| | |
| | |
Federal Reserve Bank Of New York |
|||||||| |
______National City Bank N. Y. |
| | |
| National Bank of Commerce N.Y ---|
| | \
| Hanover National Bank N.Y. \
| | \
| Chase National Bank N.Y. \
| |
| |
Shareholders - National City Bank - N.Y. |
----------------------------------------- |
| /
James Stillman /
Elsie m. William Rockefeller /
Isabel m. Percy Rockefeller /
William Rockefeller Shareholders - National Bank of Commerce N. Y.
J. P. Morgan -----------------------------------------------
M.T. Pyne Equitable Life - J.P. Morgan
Percy Pyne Mutual Life - J.P. Morgan
J.W. Sterling H.P. Davison - J. P. Morgan
NY Trust/NY Edison Mary W. Harriman
Shearman & Sterling A.D. Jiullard - North British Merc. Insurance
| Jacob Schiff
| Thomas F. Ryan
| Paul Warburg
| Levi P. Morton - Guaranty Trust - J. P. Morgan
|
|
Shareholders - First National Bank of N.Y.
-------------------------------------------
J.P. Morgan
George F. Baker
George F. Baker Jr.
Edith Brevoort Baker
US Congress - 1946-64
|
|
|
|
|
Shareholders - Hanover National Bank N.Y.
------------------------------------------
James Stillman
William Rockefeller
|
|
|
|
|
Shareholders - Chase National Bank N.Y.
---------------------------------------
George F. Baker
Chart 2
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1983
The J. Henry Schroder Banking Company chart encompasses the entire history of the twentieth century, embracing as it does the program (Belgium Relief Commission) which provisioned Germany from 1915-1918 and dissuaded Germany from seeking peace in 1916; financing Hitler in 1933 so as to make a Second World War possible; backing the Presidential campaign of Herbert Hoover; and even at the present time, having two of its major executives of its subsidiary firm, Bechtel Corporation serving as Secretary of Defense and Secretary of State in the Reagan [I.E., BUSH] Administration.
The head of the Bank of England since 1973, Sir Gordon Richardson, Governor of the Bank of England (controlled by the House of Rothschild ) was chairman of J. Henry Schroder Wagg and Company of London from 1963-72, and director of J. Henry Schroder,New York and Schroder Banking Corporation,New York,as well as Lloyd's Bank of London, and Rolls Royce. He maintains a residence on Sutton Place in New York City, and as head of "The London Connection," can be said to be the single most influential banker in the world.
J. Henry Schroder
-----------------
|
|
|
Baron Rudolph Von Schroder
Hamburg - 1858 - 1934
|
|
|
Baron Bruno Von Schroder
Hamburg - 1867 - 1940
F. C. Tiarks |
1874-1952 |
| |
marr. Emma Franziska |
(Hamburg) Helmut B. Schroder
J. Henry Schroder 1902 |
Dir. Bank of England |
Dir. Anglo-Iranian |
Oil Company J. Henry Schroder Banking Company N.Y.
|
|
J. Henry Schroder Trust Company N.Y.
|
|
|
___________________|____________________
| |
Allen Dulles John Foster Dulles
Sullivan & Cromwell Sullivan & Cromwell
Director - CIA U. S. Secretary of State
Rockefeller Foundation
Prentiss Gray
------------
Belgian Relief Comm. Lord Airlie
Chief Marine Transportation -----------
US Food Administration WW I Chairman; Virgina Fortune
Manati Sugar Co. American & Ryan daughter of Otto Kahn
British Continental Corp. of Kuhn,Loeb Co.
| |
| |
M. E. Rionda |
------------ |
Pres. Cuba Cane Sugar Co. |
Manati Sugar Co. many other |
sugar companies. _______|
| |
| |
G. A. Zabriskie |
--------------- | Emile Francoui
Chmn U.S. Sugar Equalization | --------------
Board 1917-18; Pres Empire | Belgian Relief Comm. Kai
Biscuit Co., Columbia Baking | Ping Coal Mines, Tientsin
Co. , Southern Baking Co. | Railroad,Congo Copper, La
| Banque Nationale de Belgique
Suite 2000 42 Broadway | N. Y |
__________________________|___________________________|_
| | |
| | |
Edgar Richard Julius H. Barnes Herbert Hoover
------------- ---------------- --------------
Belgium Relief Comm Belgium Relief Comm Chmn Belgium Relief Com
Amer Relief Comm Pres Grain Corp. U.S. Food Admin
U.S. Food Admin U.S. Food Admin Sec of Commerce 1924-28
1918-24, Hazeltine Corp. 1917-18, C.B Pitney Kaiping Coal Mines
| Bowes Corp, Manati Congo Copper, President
| Sugar Corp. U.S. 1928-32
|
|
|
John Lowery Simpson
-------------------
Sacramento,Calif Belgium Relief |
Comm. U. S. Food Administration Baron Kurt Von Schroder
Prentiss Gray Co. J. Henry Schroder -----------------------
Trust, Schroder-Rockefeller, Chmn Schroder Banking Corp. J.H. Stein
Fin Comm, Bechtel International Bankhaus (Hitler's personal bank
Co. Bechtel Co. (Casper Weinberger account) served on board of all
Sec of Defense, George P. Schultz German subsidiaries of ITT . Bank
Sec of State (Reagan Admin). for International Settlements,
| SS Senior Group Leader,Himmler's
| Circle of Friends (Nazi Fund),
| Deutsche Reichsbank,president
|
|
Schroder-Rockefeller & Co. , N.Y.
---------------------------------
Avery Rockefeller, J. Henry Schroder
Banking Corp., Bechtel Co., Bechtel
International Co. , Canadian Bechtel
Company. |
|
|
|
Gordon Richardson
-----------------
Governor, Bank of England
1973-PRESENT C.B. of J. Henry Schroder N.Y.
Schroder Banking Co., New York, Lloyds Bank
Rolls Royce
Chart 3
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
The David Rockefeller chart shows the link between the Federal Reserve Bank of New York, Standard Oil of Indiana, General Motors and Allied Chemical Corportion (Eugene Meyer family) and Equitable Life (J. P. Morgan).
DAVID ROCKEFELLER
----------------------------
Chairman of the Board
Chase Manhattan Corp
|
|
______|_______________________
Chase Manhattan Corp. |
Officer & Director Interlocks|---------------------
------|----------------------- |
| |
Private Investment Co. for America Allied Chemicals Corp.
| |
Firestone Tire & Rubber Company General Motors
| |
Orion Multinational Services Ltd. Rockefeller Family & Associates
| |
ASARCO. Inc Chrysler Corp.
| |
Southern Peru Copper Corp. Intl' Basic Economy Corp.
| |
Industrial Minerva Mexico S.A. R.H. Macy & Co.
| |
Continental Corp. Selected Risk Investments S.A.
| |
Honeywell Inc. Omega Fund, Inc.
| |
Northwest Airlines, Inc. Squibb Corporation
| |
Northwestern Bell Telephone Co. Olin Foundation
| |
Minnesota Mining & Mfg Co (3M) Mutual Benefit Life Ins. Co. of NJ
| |
American Express Co. AT & T
| |
Hewlett Packard Pacific Northwestern Bell Co.
| |
FMC Corporation BeachviLime Ltd.
| |
Utah Intl' Inc. Eveleth Expansion Company
| |
Exxon Corporation Fidelity Union Bancorporation
| |
International Nickel/Canada Cypress Woods Corporation
| |
Federated Capital Corporation Intl' Minerals & Chemical Corp.
| |
Equitable Life Assurance Soc U.S. Burlington Industries
| |
Federated Dept Stores Wachovia Corporation
| |
General Electric Jefferson Pilot Corporation
| |
Scott Paper Co. R. J. Reynolds Industries Inc.
| |
American Petroleum Institute United States Steel Corp.
| |
Richardson Merril Inc. Metropolitan Life Insurance Co.
| |
May Department Stores Co. Norton-Simon Inc.
| |
Sperry Rand Corporation Stone-Webster Inc.
| |
San Salvador Development Company Standard Oil of Indiana
Chart 4
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the interlocks between the Federal Reserve Bank of New York J. Henry Schroder Banking Corp., J. Henry Schroder Trust Co., Rockefeller Center, Inc., Equitable Life Assurance Society ( J.P. Morgan), and the Federal Reserve Bank of Boston.
Alan Pifer, President
Carnegie Corporation
of New York
----------------------
|
|
----------------------
Carnegie Corporation
Trustee Interlocks --------------------------
---------------------- |
| |
Rockefeller Center, Inc J. Henry Schroder Trust Company
| |
The Cabot Corporation Paul Revere Investors, Inc.
| |
Federal Reserve Bank of Boston Qualpeco, Inc.
|
Owens Corning Fiberglas
|
New England Telephone Co.
|
Fisher Scientific Company
|
Mellon National Corporation
|
Equitable Life Assurance Society
|
Twentieth Century Fox Corporation
|
J. Henry Schroder Banking Corporation
Chart 5
Federal Reserve Directors: A Study of Corporate and Banking Influence
- Published 1976
This chart shows the link between the Federal Reserve Bank of New York, Brown Brothers Harriman, Sun Life Assurance Co. (N.M. Rothschild and Sons), and the Rockefeller Foundation.
Maurice F. Granville
Chairman of The Board
Texaco Incorporated
----------------------
|
|
Texaco Officer & Director Interlocks ---------------- Liggett & Myers, Inc.
------------------------------------ |
| |
| |
L Arabian American Oil Company St John d'el Ray Mining Co. Ltd.
O | |
N Brown Brothers Harriman & Co. National Steel Corporation
D | |
O Brown Harriman & Intl' Banks Ltd. Massey-Ferguson Ltd.
N | |
American Express Mutual Life Insurance Co.
| |
N. American Express Intl' Banking Corp. Mass Mutual Income Investors Inc.
M. | |
Anaconda United Services Life Ins. Co.
R | |
O Rockefeller Foundation Fairchild Industries
T | |
H Owens-Corning Fiberglas Blount, Inc.
S | |
C National City Bank (Cleveland) William Wrigley Jr. Co
H | |
I Sun Life Assurance Co. National Blvd. Bank of Chicago
L | |
D General Reinsurance Lykes Youngstown Corporation
| |
General Electric (NBC) Inmount Corporation
** Source: Federal Reserve Directors: A Study of Corporate and Banking Influence. Staff Report,Committee on Banking,Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.
[END]
~~~~~~~~~~~~~~~~~~~~~~~
JOAN VEON: "...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. Furthermore, they have united to intervene in global markets. Their apex: the Bank for International Settlements, (BIS), located in Basle, Switzerland. During this past week, as they acted in concert with liquidity to the tune of $600B, opening up their discount windows for 24 hour loans to any banking institution in trouble, it may be fair to say a world or global central bank was birthed... ...I believe there will be major changes in the mortgage market here in America. It will be globalized and changed to the same kind of feudalistic structure that the Europeans and Commonwealth countries have. According to my research, America's move to feudalism is in the process of being finalized. The backbone of the middle class is home ownership which also includes the property under the building. I believe that the new system will change America's entire mortgage structure to leasehold, a system used all over Europe whereby individuals will pay a monthly rent to the owner of the property that their house sits on. There will be a total restructuring of property rights in America to fit our new third world status. All of the rights of property ownership will be changed forever-gone with the wind..."
~~~~~
THE TRUTH WILL SET YOU FREE/WHAT REALLY HAPPENED.COM:
Should the U.S. nationalize its own money supply?
Since the formulation of the Federal Reserve, these legally sanctioned crooks, thieves and liars have been draining America dry of both wealth and blood, thru a never ending succession of wars, police actions, interventions and "Shock and Awe" campaigns that always manage to find a convenient "boogieman" somewhere on the planet to fight, using our tax dollars and our kids.
Should the U.S. nationalize its own money supply?
Hell yes and the sooner, the better. It's way past time to take back control of our money supply from the Wall Street shysters, bunko artists and con men that have deliberately manipulated our money into fabulous wealth for a handful of these Mammon worshipping gnomes.
A manipulation that was all reward and no risk for the private bankers of the federal reserve, thanks to numerous bail-outs by the federal reserve, using OUR money.
Some will say this is "socialism." If so, it will be socialism for the people and by the people and not the predatory Darwinian Socialism for the rich and connected that has been ongoing since the Warburgs, Rockefellers and Morgans of the banking industry took over this country in a bloodless coup d'état in 1913, creating the ill-named "Federal Reserve."
A Federal Reserve that is owned by bankers in London, Berlin and Paris, as author Peter Kershaw shows in his book, "Economic Solutions."
1) The Rothschild Family - London
2) The Rothschild Family - Berlin
3) The Lazard Brothers - Paris
4) Israel Seiff - Italy
5) Kuhn-Loeb Company - Germany
6) The Warburgs - Amsterdam
7) The Warburgs - Hamburg
8)Lehman Brothers - New York
9) Goldman & Sachs - New York
10) The Rockefeller Family - New York
Seven of the top ten stockholders located in foreign countries.
Since the formulation of the Federal Reserve, these legally sanctioned crooks, thieves and liars have been draining America dry of both wealth and blood, thru a never ending succession of wars, police actions, interventions and "Shock and Awe" campaigns that always manage to find a convenient "boogieman" somewhere on the planet to fight, using our tax dollars and our kids.
It's time to tell these war mongers to piss off, we're taking back what is rightfully ours and when they scream "Socialism", hit 'em with this list that shows Big Boy Socialism:
The Federal Reserve Act went thru in 1913. In less than a year, the U.S. had imposed on it an income tax and by 1914, WW I had started.
By 1917, the U.S. was in that war, shipping men, money and weapons overseas to prop up the British Empire. The private bankers of the federal reserve made a killing off WW I, by loaning out OUR money to both sides in the conflict.
The Great Depression of 1929 was due in no small part by the machinations of various Wall Street banks that engaged in insider trading, speculation--using OUR money--and a general money investing attitude that would make the shadiest Las Vegas poker player blush.
Bank failings and foreclosures were rampant, allowing the private bankers of the federal reserve to buy up property for pennies on the dollar.
During WW II, some of these same banks made a fortune--again--by loaning out money to both sides in the conflict.
In 1980, the Hunt Brothers of Texas got involved in trying to corner the silver market. Things didn't quite go the way they planned and they were looking at bankruptcy, but the federal government got involved and helped the Hunt Boys get out of their self-made mess.
And what about the Savings and Loan crisis of the 1980's? Again, these shysters got involved in off the book schemes and gambled that they could make billions by perverting the market.
Here's whatTIME
magazine had to say about the S & L scandals:
"Devastated by a legacy of bad management, rampant fraud and inept Government supervision, more than 500 of the 3,150 federally insured thrifts had fallen into insolvency as of the beginning of last year. Because the U.S. failed to own up to the problem and launch a major rescue soon enough, the cost has now grown higher than almost anyone had imagined.
Last week President Bush came forward with a long-awaited bailout plan.. "
Sound familiar? It's "déjà vu" all over again, as the thieves run off with the loot and leave the American taxpayer with the bills. Only this time the president is Bush Jr. who's presiding over this looting of American tax dollars.
End cost of the S & L fiasco to American taxpayers?
Over 500 BILLION DOLLARS, paid by us taxpayers.
The Federal Reserve 1998 bailout of the hedge fund known as Long Term Capital Management . Again, these financial sharpies were making money hand over fist...
Hedge funds like LTCM, who had made tons of money by risking investments, now couldn't stay afloat, so in rushes the Fed, using an excuse we're hearing now, that LTCM's collapse could endanger the financial markets.
And now we have the sub-CRIME mortgage scandals of the present. Again, some of these same Wall Street banks made a huge fortune selling worthless assets back and forth to one another. When this "Ponzi" scheme blew up in their faces, they came running to Uncle Sam, saying they need to be bailed out to prevent another Great Depression.
In the 95 years since the Federal Reserve was created, the U.S. has been involved in one Wall Street shell game after another and each and every time, when the marks wise up to their game of "Three Card Monte", the markets implode. That's when Wall Street and the private banks of the Federal Reserve go crying to the U.S. Treasury, begging for help. That is, after they've sucked all the life out of the market and moved their booty to offshore banks, away from prying eyes.
Currently, both the Fed and the U.S. Treasury are working on a plan to give even more power to the Federal Reserve.
WTF? Give more power to the same mob that helped oversee this current financial conundrum that is threatening to collapse our economy? Why?
Is it time to nationalize our money supply? Damn straight and the sooner, the better.
For starters, we could save hundreds of billions of dollars a year in interest payments. Since WE the People own the debt, we wouldn't have to pay interest to ourselves on this debt.
Next, we'd tell foreign governments that we WILL honor any debts incurred by the federal reserve, but not any debts to any institution connected with Wall Street or the federal reserve.
Between not paying the exorbitant interest on OUR money and wiping away any debts owed to Wall Street and the Fed, We the People would have several hundred billion dollars a year, to spend...
If some Wall Street banks fail, tough tittie. Let them experience what the American public has been experiencing since the private bankers took over the nation's money supply in 1913.
After all, with the people back in control of OUR money, bank failures wouldn't have the shocking effect, like the Wall Street engineered Crash of 1929.
We would also remove a serious source of corruption in Congress, as it's been shown that the banking industry donates BIG money to our Congress to get OUR reps to pass legislation that favors the banking industry, not the people whom Congress has sworn to serve.
And, the risk of wars in far away places would be diminished, since the banks would no longer stand to make a profit off the stranglehold they have on the federal reserve, by loaning out money to war mongers.
Until We the People take back control of OUR money supply, we'll be subjected to a never ending stream of financial calamities, caused by insider trading, over the top speculation and greed on steroids. Risky investment schemes that Wall Street knows it can engage in, since the feds won't notice what's going on, until the fraudulent schemes start to unravel and the Big Boys need some of OUR money to stay afloat.
It's way past time to nationalize OUR money supply and take back what is rightfully ours to do with it what WE want, not what some well-heeled banker in London or Paris wants..."
~~~~~ The Trap...Behind The Curtain...Jim Kirwan...9-20-8..."...US government policy has encouraged recklessness - most recently by taking extraordinary measures to privatize gains while socializing losses. As part of the agenda of its so-called ownership society (excepting ownership of responsibility by powerful bankers and insurers who fail) the govt. even sought to privatize public obligations - recall the Bush proposal to privatize social security..."
~~~~~~~~~~~~~~~~~~~~~~
THE BIG PICTURE/WHAT REALLY HAPPENED.COM:
Paulson: Congress Has No Authority Here
September 12, 2008
"As with any contract, the parties to the agreement may modify the covenants by mutual agreement only.''
-Treasury Secretary Hank Paulson
Hank Paulson's God Complex just got bigger. The Director of Government Bailouts, and head of the Socialism Departmant at Treasury has informed Congress to back off his turf.
"All your legislation belongs to us!"
Now, last I checked, it was Congress that had the power of authorization disbursements, and that Treasury does not have the authority to spend 5.3 trillion dollars. Comrade Paulson does not seem to understand the way the different branches of government work in the United states, and is apparently unfamiliar with a little parchment called the Constitution. Perhaps we can get Ron Paul to explain how these things work to our friend from the People's Republic of Goldman...
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[IN A FREE SYSTEM THE GOVERNMENT (FORCE) STAYS OUT OF COMPETITION AMONG MONEY STANDARDS -- AS OPPOSED TO WHAT IT'S DOING NOW: ENFORCING ONLY ONE GROUP -- A BAND OF ELITE GANGSTERS -- HAVING TOTAL CONTROL OF ALL BANKING/CREDIT AND MONEY STANDARDS. THE CHOICE OF WHICH MONEY STANDARD TO USE IN WHICH CONTEXT SHOULD BE VOLUNTARY AND OPEN: IF YOU WANT TO TRADE IN BEADS, OR VEGETABLES, OR METALS, OR HOOLA-HOOPS, AND OTHERS ARE WILLING TO TRADE WITH YOU VOLUNTARILY IN THESE -- OR JUST TO BARTER YOUR LABOR FOR THEIRS -- THEN YOU SHOULD BE FREE TO DO SO. THE ELITE'S "Patriot Act" MAKES BARTER A CRIME BECAUSE THE ELITES DON'T GET A CUT IN ANY TRANSACTION WHICH DOES NOT USE THEIR MONEY OR BANKING SYSTEM.
IN GENERAL IT'S BEST TO ALWAYS USE CASH TO SLOW DOWN AND IMPEDE THE ELITE'S MARCH TO A CASHLESS SOCIETY. HAVING SAID THAT, WHEN YOU TRADE WITH MERCHANTS YOU BELIEVE ARE *NOT* ELITES IT'S BEST TO USE CASH OR YOUR ATM (EXCLUDING GAS STATIONS WHICH CAN PUT LONG HOLDS ON YOUR CHECKING ACCOUNT WHICH CAUSE YOU TO OVERDRAFT) SO AS TO CAUSE THE NON-ELITE MERCHANTS TO HAVE TO PAY 0, OR THE LOWEST FEES POSSIBLE FOR THE TRANSACTION. AND CONVERSELY, WHEN YOU ARE DEALING WITH ELITE "cOMPANIES" I ADVISE YOU TO USE A CREDIT CARD WHICH CHARGES THEM THE MOST FOR THE TRANSACTION AROUND 3,4,5%.
~~~
~~~~~ ELLEN BROWN: "...one recent example of the private control of public monies, in March of this year the New York Federal Reserve agreed in private weekend negotiations to advance $55 billion of the people's money so that JPMorgan Chase could buy Bear Stearns at the bargain basement price of $2 a share, down from a high of $156 a share. It was a hostile takeover, not approved by the Bear Stearns shareholders or the American voters. JPMorgan Chase is the bank founded by John Pierpont Morgan, who sponsored the Federal Reserve Act in 1913. Jamie Dimon, the current CEO of JPMorgan Chase, sits on the board of the Federal Reserve Bank of New York, which dominates the twelve Federal Reserve Banks; and he has huge stock holdings in JPMorgan Chase. His participation in the decision to give his bank $55 billion in Federal Reserve loans is the sort of conflict of interest that federal statute makes a criminal offense..." ~~~~~ ALAN WATT: "...The Elites are kept in a state of luxury -- always have been -- by the labor of others... In ancient times, the priests -- once they'd conned the public into believing that they were the only ones who could contact the deity, be it the sun or whatever -- used to take in the public's grain into a common grainery and the priests would dole it out to the farmers at planting time, and eventually they caught on that they could ask for more back -- and that was called "interest" (which is where "interest" came from it was to do with seed). When the priests realized that money could be used as a substitute for barter they went into the BANKING BUSINESS. In ancient temples -- be it Greece, Egypt, or the so-called "Holy Land" -- there was the "Trapeezi" which was the big banking boys who did their banking right there in the temples. Some of the temples were where the actual coin was minted, this was the case in Rome..." ~~~~~ JAMES MADISON: "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." ~~~~~ DR. LEONARD PEIKOFF: (speaking at a monitory conference in the early 80's)"...If a government takes control of money and credit, which is what a central banking system [DOES], that means it has it's hands on the literal lifeblood of the economy and there's only a short distance from that and complete socialism... There is no function for any such system... In a completely free society, there should be COMPLETE SEPARATION OF STATE AND MONEY..." ~~~~~ WHO IS "The Fed?" The English Rothschilds, The German Rothschilds, The Lazard Brothers (France), Israel Seiff (Italy), Kuhn Loeb Company (Germany), The Warburgs (Dutch & German), Lehman Brothers (America), Goldman Sachs (America), The Rockefellers (America). ~~~~~ ELLEN BROWN: "...When the smartest guys in the room designed their credit default swaps, they forgot to ask one thing � what if the parties on the other side of the bet don't have the money to pay up? Credit default swaps (CDS) are insurance-like contracts that are sold as protection against default on loans, but CDS are not ordinary insurance. Insurance companies are regulated by the government, with reserve requirements, statutory limits, and examiners routinely showing up to check the books to make sure the money is there to cover potential claims. CDS are private bets, and the Federal Reserve from the time of Alan Greenspan has insisted that regulators keep hands off. The sacrosanct free market would supposedly regulate itself. The problem with that approach is that regulations are just rules. If there are no rules, the players can cheat; and cheat they have, with a gambler's addiction. In December 2007, the Bank for International Settlements reported derivative trades tallying in at $681 trillion � ten times the gross domestic product of all the countries in the world combined. Somebody is obviously bluffing about the money being brought to the game..."
~~~
WEB OF DEBT/WRH: TODAY WE'RE ALL IRISH: DEBT SERFDOM COMES TO AMERICA...Ellen Brown, March 15th, 2008...
http://www.webofdebt.com/articles/debt-serfdom.php ... The Irish were driven to America by debt, and they are leading the Western world in household debt today. The London Daily Telegraph reported on March 13, 2008 that household debt in Ireland has reached 190 percent of disposable income, the highest in the developed world... The same may soon be happening in the United States, and for much the same reasons. Debt Drives the Irish to America: A short review of the history of the Irish in North America reveals that few were here before 1845, when a disease struck the potato crops of Ireland, wiping out the chief or only source of food for many poor farmers. Famine continued for the next five years, killing over 2.5 million people. "God put the blight on the potatoes," complained the Irish farmers, "but England put the hunger upon Ireland." Farmers who were heavily in debt were shipped to England to pay the rent owed to their landlords. Impoverished Irish immigrants saved what little money they could to send family members across the Atlantic, traveling on overcrowded ships on which many died of disease or hunger on the way. When they arrived, the Irish men had to fight � often physically � to get labor jobs involving long hours and low pay; while the women worked mainly as servants (called "Brigets") to upper-class families. Despite their very low wages, they managed to send a bit of money back to their families, until other family members had enough to buy the ship tickets to America. In the American South (mainly New Orleans), the Irish lived in swamp land infested with disease. Here, Irish men were looked upon as actually lower than slaves. As one historian put it, if a plantation owner lost a slave, he lost an investment; if he lost a laborer, he could always get another. Because the Irish workers were plentiful and expendable, they were often sent in to do dangerous jobs for which the slave-owners were reluctant to send their valuable slaves.
"Debt Slavery" Replaces Physical Slavery: This form of "debt slavery" or "debt peonage" was not just an accidental development of history. It was a deliberately-planned alternative to the slave arrangement in which owners were responsible for the feeding and care of a dependent population, and it is still with us today. Although European financiers were in favor of an American Civil War that would return the United States to its colonial status, they admitted privately that they were not necessarily interested in preserving slavery. They preferred "the European plan": capital could exploit labor by controlling the money supply, while letting the laborers feed themselves. In July 1862, this ploy was revealed in a notorious document called the Hazard Circular, which was circulated by British banking interests among their American banking counterparts. It said: "Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are glad of, for slavery is but the owning of labor and carries with it the care of the laborers, while the European plan, led by England, is that capital shall control labor by controlling wages. This can be done by controlling the money. The great debt that capitalists will see to it is made out of the war, must be used as a means to control the volume of money. To accomplish this, the bonds [government debt to the bankers] must be used as a banking basis. . . . It will not do to allow the greenback, as it is called, to circulate as money any length of time, as we cannot control that." A system of "debt peonage" is inextricably linked to a banking system in which money is issued privately by bankers and lent to the government rather than being issued as "greenbacks" by the government itself Today the "European plan" has evolved into the private central banking system, and it has come to dominate the economies of the world. A private central bank creates money simply by printing it or entering it as an accounting entry, then lends it to the federal government in exchange for government bonds or debt. Private commercial banks create many more dollars in the same way, advancing money created as accounting-entry loans without even incurring the cost of a printing press. Except for coins, the entire U.S. money supply is now created as a debt to private bankers. Banks create the principal but not the interest necessary to pay back their loans, so more money is always owed back than was put into the money supply in the first place. More loans must therefore continually be taken out to cover the interest, spiraling the economy into increasing levels of debt and inflation, in a futile attempt to repay principal and interest on a debt that is actually impossible to repay. The result is "debt peonage," and it has systematically reduced the people to working for the company store, bound to their corporate masters for the food, shelter and health care formerly provided by slave owners under the old physical-slave system." ~~~~~ RENSE.COM:...Is Cheney betting On
Economic Collapse? By Mike Whitney...3-27-8...Wouldn't you like to know where Dick Cheney puts his money? Then you'd know whether his "deficits don't matter" claim is just baloney or not.
Well, as it turns out, Kiplinger Magazine ran an article based on Cheney's financial disclosure statement and, sure enough, found out that the VP is lying to the American people for the umpteenth time. Deficits do matter and Cheney has invested his money accordingly.
The article is called "Cheney's betting on bad news" and provides an account of where Cheney has socked away more than $25 million. While the figures may be estimates, the investments are not. According to Tom Blackburn of the Palm Beach Post, Cheney has invested heavily in "a fund that specializes in short-term municipal bonds, a tax-exempt money market fund and an inflation protected securities fund. The first two hold up if interest rates rise with inflation. The third is protected against inflation."
Cheney has dumped another (estimated) $10 to $25 million in a European bond fund which tells us that he is counting on a steadily weakening dollar. So, while working class Americans are loosing ground to inflation and rising energy costs, Darth Cheney will be enhancing his wealth in "Old Europe". As Blackburn sagely notes, "Not all 'bad news' is bad for everybody."
This should put to rest once and for all the foolish notion that the "Bush Economic Plan" is anything more than a scam aimed at looting the public till. The whole deal is intended to shift the nation's wealth from one class to another. It's also clear that Bush-Cheney couldn't have carried this off without the tacit approval of the thieves at the Federal Reserve who engineered the low-interest rate boondoggle to put the American people to sleep while they picked their pockets...Cheney and his pals are manning the lifeboats while the public is diverted with gay marriage amendments and "American Celebrity"...Did Americans really think they'd be spared the same type of economic colonization that has been applied throughout the developing world under the rubric of "neoliberalism"?...American elites and corporate tycoons are loading the boats and heading for foreign shores. The only thing they're leaving behind is the insurmountable debt that will be shackled to our children into perpetuity and the carefully arranged levers of a modern police-surveillance state.
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WEB OF DEBT.COM/WHAT REALLY HAPPENED.COM:
PUTTING THE "FEDERAL" BACK IN THE FEDERAL RESERVE
Ellen Brown
July 26th, 2008
In a July 19 Wall Street Journal article titled "Why No Outrage?", James Grant quoted Mary Lease, a 19th century Populist who urged farmers to "raise less corn and more hell." Grant notes that financial behavior that would have been met with outrage in the 19th century is now met with near-silence from a too-tolerant populace. For decades after the Civil War, monetary reform was a chief political issue, one around which whole political parties formed. Why is it hardly mentioned today? Grant suggests that the lack of outrage may be because the old 19th century Populists actually won:
GRANT:
"This is their financial system. They had demanded paper money, federally insured bank deposits and a heavy governmental hand in the distribution of credit, and now they have them. The Populist Party might have lost the elections in the hard times of the 1890s. But it won the future. . . . They got their government-controlled money (the Federal Reserve opened for business in 1914), and their government-directed credit [Fannie Mae and Freddie Mac]. In 1971, they got their pure paper dollar. So today, the Fed can print all the dollars it deems expedient and the unwell federal mortgage giants, Fannie Mae and Freddie Mac, combine [to] dominate the business of mortgage origination . . . ."
Mr. Grant may have answered his own question, in another way than he intended. Most people, evidently including Mr. Grant, actually think that the Federal Reserve is a federal agency; and that paper dollars are issued by the government; and that Fannie Mae and Freddie Mac are federal mortgage giants. The American people are silent because they have been duped into believing they have gotten what they wanted. In fact, what the people got was not at all what the Populists fought for, or what their leader William Jennings Bryan thought he was approving when he voted for the Federal Reserve Act in 1913. In the stirring speech that won him the Democratic nomination for President in 1896, Bryan expressed the Populist position like this:
BRYAN:
"We say in our platform that we believe that the right to coin money and issue money is a function of government. . . . Those who are opposed to this proposition tell us that the issue of paper money is a function of the bank and that the government ought to go out of the banking business. I stand with Jefferson . . . and tell them, as he did, that the issue of money is a function of the government and that the banks should go out of the governing business. . . . [W]hen we have restored the money of the Constitution, all other necessary reforms will be possible, and . . . until that is done there is no reform that can be accomplished."
Bryan lost in 1896 and again in 1900, but he went on to lead the opposition in Congress. A major bank panic in 1907 led to a bill called the Aldrich Plan, which would have delivered control of the banking system to the [EUROPEAN ARISTOCRACY, AKA:] Wall Street bankers. However, the alert opposition, led by Bryan, saw through it and soundly defeated it. Bryan said he would not support any bill that resulted in private money being issued by private banks. Federal Reserve Notes must be Treasury currency, issued and guaranteed by the government; and the governing body must be appointed by the President and approved by the Senate.
To get their bill past the opposition in Congress, the Wall Street faction changed its name to the Federal Reserve Act and brought it three days before Christmas, when Congress was preoccupied with departure for the holidays. The bill was so obscurely worded that no one really understood its provisions. Its backers knew it would not pass without Bryan's support, so in a spirit of apparent compromise, they made a show of acquiescing to his demands. Bryan said happily,
BRYAN:
"The right of the government to issue money is not surrendered to the banks; the control over the money so issued is not relinquished by the government . . . ."
That was what he thought; but while the national money supply would be printed by the U.S. Bureau of Engraving and Printing, it would be issued as an obligation or debt of the government to a private central bank. The Federal Reserve is wholly owned by a consortium of private banks; it is controlled by bankers; and it protects their interests. It issues Federal Reserve Notes (dollar bills) for the cost of printing them (or, more often, for the cost of entering numbers on a computer screen). This privately-issued money is then lent to the government, and it is owed back to the private Federal Reserve with interest. The interest is eventually refunded to the government, but only after the Fed deducts its operating expenses and a 6 percent guaranteed return for its bank shareholders.
Congress and the President have some input in appointing the Federal Reserve Board, but the Board works behind closed doors with the regional bankers, without Congressional oversight or control. Bank CEOs actually sit on the boards of the Fed's twelve branches. As just one recent example of the private control of public monies, in March of this year the New York Federal Reserve agreed in private weekend negotiations to advance $55 billion of the people's money so that JPMorgan Chase could buy Bear Stearns at the bargain basement price of $2 a share, down from a high of $156 a share. It was a hostile takeover, not approved by the Bear Stearns shareholders or the American voters. JPMorgan Chase is the bank founded by John Pierpont Morgan, who sponsored the Federal Reserve Act in 1913. Jamie Dimon
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