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The Stuff Conspiracy Theories Are Made Off: The Emergence Of A Secret Banking Cabal
Bloomberg's David Reilly puts to paper what everyone watching this week's Geithner grilling was all too aware of.
The idea of secret banking cabals
that control the country and global economy are a given among
conspiracy theorists who stockpile ammo, bottled water and
peanut butter. After this week’s congressional hearing into the
bailout of American International Group Inc., you have to wonder
if those folks are crazy after all.
Wednesday’s hearing described a secretive group deploying
billions of dollars to favored banks, operating with little
oversight by the public or elected officials.
We’re talking about the Federal Reserve Bank of New York,
whose role as the most influential part of the federal-reserve
system -- apart from the matter of AIG’s bailout -- deserves
further congressional scrutiny.
The New York Fed is in the hot seat for its decision in
November 2008 to buy out, for about $30 billion, insurance
contracts AIG sold on toxic debt securities to banks, including
Goldman Sachs Group Inc., Merrill Lynch & Co., Societe Generale
and Deutsche Bank AG, among others. That decision, critics say,
amounted to a back-door bailout for the banks, which received
100 cents on the dollar for contracts that would have been worth
far less had AIG been allowed to fail.
Perhaps the catharsis of writing about it will make the pain from the ever more obvious realization of what is going on behind the scenes finally go away. Or maybe not.
“In fact, when the information was finally released, under
pressure from Congress, nothing happened,” Towns said. “It had
absolutely no effect on AIG’s business or financial condition.
But it did have an effect on the credibility of the Federal
Reserve, and it called into question the Fed’s penchant for
secrecy.”
Now, I’m not saying Congress should be meddling in
interest-rate decisions, or micro-managing bank regulation. Nor
do I think we should all don tin-foil hats and start ranting
about the Trilateral Commission.
Yet when unelected and unaccountable agencies pick banking
winners while trying to end-run Congress, even as taxpayers are
forced to lend, spend and guarantee about $8 trillion to prop up
the financial system, our collective blood should boil.
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I need more peanut butter.
Don't forget cans of baked beans and corn... together they are a complete protein...
My friend "Tin Foil" Larry also stocks plenty of MREs for variety and penicillin in his quaint bunker built off of a room in the basement...
MRE--four words, three lies
Eat cake.
This gets my vote for post of the month.
Perfect!
I am shocked
Why? The REAL question is who pwns the Federal Reserve.
www.save-a-patriot.org/files/view/whofed.html
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a money aristocracy that has set the government at defiance. This issuing power should be taken from the banks and restored to the people to whom it properly belongs. If the American people ever allow private banks to control the issue of currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers conquered."
--- Thomas Jefferson, 1791
Who owns the Federal Reserve, you ask ??
Several court cases have held, for the incidents before the court, that the Federal Reserve BANKS ( of which there are twelve, each independent, and each controlled by a Board of Directors with nine directors) are owned by the commercial banks who are required to purchase non-transferable “stock” as determined by the Federal Reserve BOARD OF GOVERNORS (BOG)---as briefly identified by the article.
The BOG has absolute authority to remove any officer or director (Title 12, Section 248 (f)) with, or without, cause. They also have authority “To exercise general supervision over said Federal reserve banks.” 12 USC 248 (j). Courts have stated that power is supervisory and regulatory.
Commercial banks have the image of owning the FR Banks. They appear, in fact, to have purchased a franchise. Control of the FR SYSTEM is vested in the BOG which is a separate legal entity. 12 USC #241. The BOG can charge the FR Banks any amount to cover costs and expenses, including “to acquire…a site or building…for the performance of the functions of the Board.” and the Board “shall have sole control of such building or buildings and space therein.” 12 USC #243.
Who owns or controls the BOG ? Some people suggest that the government controls them, but the hearings before congress seem to belie that. Bernacke specifically declared he would resist any attempt by Congress to control the Fed. Some people read Eustace Mullins’ SECRETS OF THE FEDERAL RESERVE and believe the New York bankers, operating as shills for the European Rothchilds, control the Fed. Since the accounting records of the BOG are unavailable for scrutiny, except for a three page overview/gloss in the Annual Report to Congress, it is impossible to disprove the claim.
These arrogant elitists should be audited. Congressman Ron Paul bring it on.
It's more of a predictable human behavior under a specific risk-reward system and could in theory be argued as a form of racketeering conspiracy after the fact. It's hardly a foilhat moment.
I repeat, where the hell is Cuomo?! There's more than enough sh*t that has come to light to subpoena all the parties involved, and then some. What boils my blood is the nonchalantness of the legal system toward this entire fiasco!
Perhaps the public outrage now will spur Cuomo to prosecute the greatest financial crimes in U.S. history. These Congressional hearings are exposing the FED/AIG/Wall Street money laundering and robbery of taxpayers, and are pushing the level of public outrage to the point that Cuomo and other prosecutors should see they have overwhelming public support for major prosecutions.
Wall Street and Fed, meet my little friend RICO...Racketeer Influenced and Corrupt Organizations Act prosecutions.
What laws have been broken?
ALL of them idiot!
How about debasing the currency? The Constitution considers that treason and it's been going on for 97 years. No, I won't provide a link/source. Just google purchasing power us dollar and have some fun with that.
Fed does not have any constitutional authority to backstop private businesses. zero.
It has authority to buy/sell US govt securities as part of its mission to stabilize inflation and minimize unemployment.
Period.
anything beyond that violates the constitution. Last time I check, when you violate the constitition, its considered treason. So broken commercial laws...probably a few. Treason?
absolutely.
Bernanke should die a traitors death. As should Paulson and Geithner.
Umm, no. Not even close. Way out in the cornfields a couple miles away from the ballpark. Statements like this make it easier for people to disregard the legitimate problems with the "Federal Reserve."
Treason? I don't buy it. According to 18USC115 Section 2381:
Treason. Whoever, owing allegiance to the United States, levies war against them or adheres to their enemies, giving them aid and comfort within the United States or elsewhere, is guilty of treason and shall suffer death, or shall be imprisoned not less than five years and fined under this title but not less than $10,000; and shall be incapable of holding any office under the United States.
Doesn't seem to fit "Misprision of Treason", "Rebellion or Insurection"...not even "Seditious Conspiracy". On the other hand, I wonder how your comment "Bernanke should die a traitors death. As should Paulson and Geithner." fits into 18USC115 Section 2385..."Advocating the Overthrow of the Government". Check the statutes yourself at http://www.law.cornell.edu/uscode/18/usc_sup_01_18_10_I_20_115.html
On the other hand the fiat privateers named Greenspan, Bernanke Paulson and Geitner have steered us into a ditch...from which we may never emerge. Enforce the regs that are on the books. Start the perp walks. Claw back some dough. Reinstate Glass-Seagall. Get back to making things in America...all while bunkering down for the long economic winter ahead. Victory garden anyone?
Treason, A Logical (Or Pretzel-Logical) Argument
1. FRNs are fiat, debt-based/backed currency.
2. The Fed is not authorized to make the MBS purchases it has made in the past year. You can argue all you want about implied govt guarantees; if you look at a prospectus for FNM/FRE offering, it clearly states that these securities do not have govt guarantees.
3. Despite #2 above, the Fed has purchased over a trillion dollars in MBS over the past year. This is not treason, but it is a violation of the laws on the books. Please spare me any "exigent circumstances" arguments; exigent circumstances are purely subjective, something I feel the law shuns (or should).
4. We do not know what haircuts (if any) the Fed forced sellers of MBS to take as the Fed must "preserve its independence" and will not willingly release the data. However, given the data in the unredacted Schedule A posted on ZH on Thursday of this week, it is highly likely (if not certain) that the Fed paid par (or very close to it) for distressed securities.
5. So, here is where the rubber of these actions meets the road of treason, IMO. If the entity/individuals controlling issuance of debt-backed currency, pay par for a distressed security (which now partially backs the FRN), have they not counterfeited the currency. $100 has been printed and issued to purchase securities at par. The purchase of these securities can be construed as passing off $50 (for example) as $100.00. This is counterfeiting. Since counterfeiting the people's currency is, in effect, levying war against the citizenry, I do feel that what has happened can (and should) be labeled and prosecuted as treason.
Violating the Constitution is probably not 'treason', but it is breaking the law. (Cue Judas Priest)
However, the main point is there is nothing in the Constitution that allows the government to set up a central bank, indeed the writers were generally against such a thing, and against fiat paper money.
Empanel a grand jury and let them decide. That is how this is done.
A Star Chamber is appropriate.
Grand Larceny. Bribery. Self-dealing / conflict of interest. We'll know more after the Fed audit.
The RICO sledgehammer should be wielded against this cabal.
?
What law has been broken, you ask? Well, why don’t we start with the basic economic system--the operation of the Federal Reserve.
The operation of the Fed is to facilitate the operation of Congress to spend money that Congress does not receive in the form of taxes. Some people would call it fiat money. What ever it is called, it must be created out of thin air.
Shucked down to the cob, Congress will give a security (bill, bond, or note) to the Fed and the Fed will credit the Congressional account (in the name of the U.S. Treasury) in the amount of the principal thus created. Every "dollar" in circulation has been created in this manner. The inherent promise is that the debt will be paid off, with interest. But a problem has arisen.
The principal has been created (which Congress will spend ) but the interest has never been created. It is impossible to fulfill the obligation. A contract that is impossible to complete is an act of fraud and is void from its inception.
The only way to pretend to complete the obligation is to create more debt (issue more securities) and use some of the principal thus created to pay the interest on the initial debt. This is the nature of a classic Ponzi scheme. The debt will then be rolled over into a larger amount. To reduce the total debt would be to collapse the scheme.
Observe that because some of the principal on subsequent issues (rolled over repeatedly) is used to pay the interest on earlier issues, the actual value of money available for government projects is less than the advertised value of issue. This is then an exponential increase in the amount of value that must be subtracted from the principal to pay the interest. It is only a matter of time before the value of interest that must be paid become as large as the principal. Expansion of the total debt (national debt) is mandatory, not only to continue the Ponzi scheme, but to conceal the gradual decrease in value available to Congress that would be obvious from a ceiling on the amount of debt. The gradual increase in inflationary pressure becomes larger and more obvious with time. Bankruptcy of the scheme is inherent.
To make the operation appear legitimate, the U.S. Treasury will act as auctioneer to sell some of the securities owned by the Fed. This makes it appear that the government is borrowing money from the public. The smoke and mirrors operation removes much of the created currency from circulation but allows the commercial banks to participate in the scheme by multiplying the residual new money in circulation (acting as bank reserves) through the fractional reserve operation.
If any body else operated a Ponzi scheme like this, they would be roommates with Bernie Madoff.
It,s called the 8th commandment...thou shall not steal.
Cuomo does just enough to grab some headlines and publicity...
Then goes and hits up who he is investigating for campaign bribes for the ole governors race and goes home...
BINGO -- Cuomo is not your friend.
Cuomo seems to be a shill to me....the money he extracted out of the big banks was paltry compared to what they got away with.
I've found it ironic that Cuomo was going after the bankers since he played an instrumental role in laying the foundation for the economic crisis while at HUD. These guys have no shame! Cuomo helped create the crisis and now will use it for his own political ambitions to get elected to higher office by being the "good guy" that stopped those awful bankers.
This is an article from August 2008 when the housing bailouts were being passed. I linked it in the forums of another site, but went and found it to post here because I think those holding Cuomo up as a hero need to read it.
How Andrew Cuomo Gave Birth to the Crisis at Fannie/Freddie
This in-depth article from the Village Voice provides more information about how we ended up in our current economic debacle. According to the article, Andrew Cuomo was repeatedly warned that the new policies he was implementing at HUD combined with the lack of additional reporting requirements and monitoring could lead to disaster. This is a must read for anyone interested in understanding how we ended up in this predicament.
How Andrew Cuomo Gave Birth to the Crisis at Fannie Mae and Freddie Mac
http://www.villagevoice.com/content/printVersion/541234
Your question is appropriate and to me it gets to the heart of the problem of this whole mess and that is: that all of these criminals operating in this crony conspiracy never fear prosecution because they own the prosecutors. Only non-cronies get prosecuted. OK peanut butter lovers here is your ammo. The justice department is the commanders of the cronies. They only prosecute non-cronies, political dissidents and peanut butter eating truth seekers. If someone found out their criminal activities and tried to report it they would soon be prosecuted. It is like calling the police to report police brutality or the police robbing the bank. So what do we do? Congress is afraid to go out at night. They aren't going to do anything. There is not a lawyer with the money or courage to say anything. It is up to us peanut butter eaters.
Daedal -- Maybe Cuomo is concerned that if he digs too deeply his involvement in creating the economic crisis will receive more attention and impact his political ambitions. Maybe people will connect the dots between his stint at HUD and the faulty mortgages underlying the CDS for which taxpayers paid 100 cents on the dollar.
See the article I posted below in response to Artful_Dodger's comment.
Or, we could have choosen to revist the 1930s...or 1910s...or 1890s...or....
and you think we're safe from that probability?
all hail ben bernanke...
"Or, we could have choosen to revist the 1930s...or 1910s...or 1890s...or...."
Those choices were already made when we created a massive global debt bubble via poor monetary and fiscal policy. What we have done the last two years is make a new choice, which may well end up looking more like the French Revolution.
People may think you are a fucking lunatic. Let's have coffee or (if true) clear tequila.
I remember when Roubini was a messy-haired nut case on Bloomberg in late 2006. And others. Tice is another. The permabears were pathetic. Right? Bianco was loud. BUT....
If you took a drive from the San Fernando Valley down to North County San Diego in late 2006 with YOUR EYES OPEN you didn't need a Turk from NYU or anyone else to CONNECT THE DOTS. The empirical data stood out like an Island Top. Except the Island wasn't even on earth.
MELTDOWN on the horizon.
And now those who are the DOTS are doing everything in their power not to be the DOTS. And the DOTS go very very high up. VERY HIGH. You start with upper management at the GSE's and work up, down and sideways.
The scandal makes Humpty Dumpty look like a child's rhyme. Honestly. If the keel doesn't begin to right itself what this cat suggests is as unthinkable as a riot in LA in 1992. Trust me. Or don't.
look, you obviously work for GS or another bankster that got bailed out. just take your bonus, and watch your back. We are at around 1895 now and the Robber Barons of today will be taken out soon, one way or another.
Get out the laser pointers and shine them on these criminals whenever they're up there spewing their B/S. Maybe they'll get the hint +
Stockpile ammo, water purifiers and MRE.. no bottles or peanut butter. Otherwise fully agree
Oh god! just what I needed tonight
Comrades, your incessant fearmongering and vile criticisms of our glorious leaders and bankers is un-Amerikan! For shame!
God bless the USSA!
God Bless Merica'!
Say. We need a BIG war to distract us from all of this "petty nonsense", don't ya' think?
USSA :))). actually, tovarish Ben, it is YSSA!
I am still trying to figure out how borrowing money gets one out of a financial mess. Who is on the hook for the money in the AIG bailout? Everyone involved in the AIG clusterfuck got money. Even the employees got bonuses and no one went to jail.
"Treason doth never prosper; what's the reason? For if it prosper, none dare call it treason."
Sir John Harrington, 1600
and so it goes.........
Says John Dalberg-Acton ("LORD" ACTON):
“There is no worse heresy than the fact that the office sanctifies the holder of it.”
Ahhh! A "Lord" you are my good sir...
And a fine day to you wherever you reside!
Never tell them what we do with the peanut butter. They'll never trust us again.
OK. PINKY SWEAR!!!!
PINKY SWEAR OR TAKE THE SECRET TO THE GRAVE!!!!!
Nobody told me there was peanut butter. Man I'm out of the loop...I wonder what else I'm missing.
Have you ever heard of the tooth fairy? How bout never never land?
Present the secret handshake and I'll tell you.
oh my hands are shaking all right.
We need to wonder about a banking conspiracy? Have you yet to see any political action on behalf of the American public to stop the obvious swindle of hundreds of billions? That's not coffee you smell; that's the smell of the coffee pot burned dry while you snored.
And where's the SEC? Pthh...
Japan responds with this -----
http://www.bloomberg.com/apps/news?pid=20601087&sid=asGmY5U_7Ing&pos=7
Just one big coincidence theory.
Sen DeMint is introducing a new Bill S.2939 which mirrors S.604 http://www.opencongress.org/bill/111-s2939/text His intent is to press for an up or down vote.
S.2939 - A bill to amend title 31, United States Code to require an audit of the Board of Governors of the Federal Reserve System and the Federal reserve banks, and for other purposes. --------------------------------------------------------------
Recent News CoverageHmmHmm, no news coverage found for this bill at this time. This means that this this bill has not yet been mentioned on a publicly-searchable news website by either its official number (for example, "H.R. 3200") or title (for example, "America's Affordable Health Choices Act of 2009"). As soon as that changes, our daily automated search across the Web will catch it and include it here. If this bill is of interest to you, you can write a letter to the editor referring to this bill by name, and if your letter is published on the Web, a link back your letter will appear here within about one day. Or, if you know of a news article about this bill to display here, email us the web address of this page and the web address of your suggested news article:writeus@opencongress.org Our editorial team will post relevant links as quickly as possible. Thanks for helping to build public knowledge about Congress.
http://www.opencongress.org/bill/111-s2939/show
Guess we'll have to rely on either Tyler or Marla (as usual) to bring exposure to this recent Senatorial move. The BankStream Media doesn't find it "newsworthy".
Who could these people be? Since Bernanke and Geithner had no knowledge or involvement of such shady transactions.
Am I missing something?
keep your eye out for a tin man, scarecrow, lion and a nice looking girl with an obnoxious little dog.
It seems to me that because the system was saved (haha), the means have been used to justify the ends.
At this juncture i am just plain exhausted and done with expecting anyone to be held responsible for the clusterfuck that was the AIG bailout. Bernanke, Geithner, Paulson, Friedman ect. all claim victory but none were responsible for any questionable conduct.
Perhaps, one is crazy for ever expecting anything different than the status quo protecting their interests at the expense of a nation (or the world).
I believe that banking institutions are more dangerous
to our liberties than standing armies. Already they
have raised up a moneyed aristocracy that has set
the Government at defiance. The issuing power should
be taken from the banks and restored to the people to
whom it properly belongs.
Thomas Jefferson
If the American people ever allow private banks to
control the issue of their money, first by inflation
and then by deflation, the banks and corporations
that will grow up around them (around the banks),
will deprive the people of their property until their
children will wake up homeless on the continent
their fathers conquered.
Thomas Jefferson
The system of banking [is] a blot left in all our
Constitutions, which, if not covered, will end in their
destruction... I sincerely believe that banking
institutions are more dangerous than standing
armies; and that the principle of spending money
to be paid by posterity
... is but swindling futurity on a large scale.
Thomas Jefferson
The truth is stranger than fiction or at least gives it a run for the money.
This must be depressing for the tin foil hat set.
After all when their theories become mainstream, It kinda makes the hat redundant.
Mainstream acceptance still does not stop the low frequency thought control waves from penetrating our brains.
BTW. Believe it or not, but I found that Saran Wrap works every bit as well as tin foil. And it's more fashionable too.
“The Emergence of a Secret Banking Cabal”?
Anonymous #204961 wrote on Sun, 01/24/2010:
"’Why do those with a keen interest in suppressing the truth about the origins and nature of our current global financial crisis have great success in doing so merely by simply using the word “conspiracy” to marginalize the well-constructed arguments of others?’"
“…i remind sheeple that machiavelli wrote the prince to systematically discuss the continuous presence of conspiracies emmanating wherever two or more people are gathered in the name of politics and power... people have been sheepified and homogenized by the circuses of entertainment, anesthesitized by the pablum of public education, and intimidated by the miasma of credentialism…”
“operation paper clip brought to America brilliant psychological operations experts…they ply their trades to the present day…the mirage of the prince fools the sheeple and the indolent mind…”
Stephen Lendman wrote in FINANCIAL CONSPIRACY: “Over the Rainbow on 20 May 2009:
Today, international bankers are looting world economies with the aim of turning them into Guatemala – subjugated, unemployed, enslaved, and impoverished like in Orwell’s classic dystopian novel – Nineteen Eighty-Four.
This writer just completed a six-part series on Ellen Brown's remarkable 2007 book titled “Web of Debt.” This article follows from it by picking up on the theme she struck, using L. Frank Baum's "The Wonderful Wizard of Oz" as a combination parable, monetary allegory, and political manifesto for change at a time it's most needed.As Brown explained, who would have thought this "charming tale....was drawn from that most obscure and tedious of subjects, banking and finance," and (in the wrong hands) the chokehold they have on societies. Who understood that it was "all about people power, manifesting your dreams, (and) finding what you wanted in your own backyard." Who also could have imagined that "the real-life folk heros who inspired (Baum's) plot may have had the answer to" today's global economic crisis.
Brown began by quoting Hans Schicht in a 2005 editorial headlined "The Death of Banking and Macro Politics" in which he stated:
"Through a network of anonymous financial spider webbing only a handful of global King Bankers own and control it all... Everybody, people, enterprise, State and foreign countries, all have become slaves chained to the Banker's credit ropes."
Schicht continued saying:
Today, international bankers are looting world economies with the aim of turning them into Guatemala - subjugated, unempowered, enslaved, and impoverished like in Orwell's classic dystopian novel - "Nineteen Eighty-Four." He warned that:
"Big Brother is watching you (and) If you want a vision of the future, imagine a boot stamping on a human face - forever."
Baum had dark message as well. As Brown explained: "there are invisible puppeteers pulling the strings of the puppets we see on the stage, in a show that is largely illusion." The Federal Reserve and most central bankers rule world economies by controlling their money, their very lifeblood without which commerce can't function. As long as that continues, Wicked Witch power will prevail… (end excerpt)
http://baltimorechronicle.com/2009/052009Lendman.shtml
And none dare call it conspiracy!
The exposing of the corrupt nature of the wall street banks, the politicians and the US financial elite has now officially gone mainstream. Blankfein, Lewis, Bernanke, Geitner, Obama, Dodd and others are disposable pawns in the Great Game.
http://www.youtube.com/watch?v=Qk1O9TVJ4w8
The vilification of the US political and financial elite and the intentional whipping up of populist outrage by media conglomerates like FOX and MSNBC enables the globalists to continue their dismantling of what remains of the US republic.
A nation divided against itself makes for easy pickings for the globalists who plan to discredit the "corrupt" nation state paradigm in order to make way for the new global order.
Be careful what you cheer for.
Was there really ever any question the cabal existed? I mean really?
Yeah, it's not just a theory, is it?
the only thing that makes sense to me is that Goldman was a stupid as everyone else, they had tons of commoditiy funds get reamed, and while they probably thought a bank or two would go down, they probably never thought a half dozen would rot to the ground including fannie and freddie
if you assume above, i can see lloyd, doing god's work in a back door meeting with hank telling him how things have changed since he left, HFT has a stranglehold on the market, they are and can and will break it all the way down too 3k if they are not stopped now, and the only way to do it, and save all americans pension systems and jobs, is for goldman to do the lords work and save them, excpet they have one problem, cash to go long, a good portion is tied up with aig, bad commodity funds, and the 3000 other stocks they hold
i'm sure hank being cool and calm asks him how much does he need to get the job done, lloyd names a number, and hank says, go too buffett, borrow big, we need a diversion for the public
then hank goes too ben and lays out what needs to be done, ben unsure if they should hesitates, and hank pulls out the big guns, its china ben, it's the chinese super computers hft'ng us too death, it's war, and only goldman is smart enough to beat em back from our shores
and so it goes, fwiw, my guess is hank worked with ben, and then ben directed tim, so you get the simple fact it's easier for a secret to stay a secret, when there are only two men in the room
one more point, there is no way in hell ben is smart enough to come up with a plan too co-ordinate flow of funds and information to perfectly with the market, you'd need a major market timer, and old commodities trader mentality, oh, we got one of those, lloyd, doing god's work, people didn't realize he was serious, yes, he and his firm made money, but he saved all of your jobs and pensions, and he has gotten no thanks
This isa keeper.
+100
Why are so many surprised? This is not news. This is how it is and how it has been for over 100 years and 100 years before that. How did you think it worked?
The average age of zh readers must be under 30, at least the ones who think this is news.
Whatever happened with the AIG docs that ZH, HuffPo & NC were talking about over the past couple of days? I feel as though I blinked, and missed something...
Were they not as exciting as people had expected, or does the research have to be carried out more *quietly* now?
Phone calls have been made, the flow of information has been arrested, and many an editor can once again sleep well at night knowing that their children are no longer in danger.
It is in actuality very simple to debunk their attacks on the people questioning them as "conspiracy theorists"
Notice how they never attack the message, just the individual because they know the message is the truth being brought forth.
When you cannot attack one's argument, attack one's character
or just control the money system.
Exactly. And Zero Hedge foiled them on this one, the big one. And they're in a frenzy...
Congressman Charles A. Lindbergh, Sr. revealed the Bankers Manifesto of 1892 to the U.S. Congress somewhere between 1907 and 1917.
BANKERS MANIFESTO
We (the bankers) must proceed with caution and guard every move made, for the lower order of people are already showing signs of restless commotion. Prudence will therefore show a policy of apparently yielding to the popular will until our plans are so far consummated that we can declare our designs without fear of any organized resistance.
Organizations in the United States should be carefully watched by our trusted men, and we must take immediate steps to control these organizations in our interest or disrupt them.
At the coming Omaha convention to be held July 4, 1892, our men must attend and direct its movement or else there will be set on foot such antagonism to our designs as may require force to overcome.
This at the present time would be premature. We are not yet ready for such a crisis. Capital must protect itself in every possible manner through combination (conspiracy) and legislation.
The courts must be called to our aid, debts must be collected, bonds and mortgages foreclosed as rapidly as possible.
When, through the process of law, the common people have lost their homes,
they will be more tractable and easily governed through the influence of the strong arm
of the government applied to a central power of imperial wealth under the control of the leading financiers.
People without homes will not quarrel with their leaders. History repeats itself in regular cycles. This truth is well known among our principal men who are engaged in forming an imperialism of the world. While they are doing this, the people must be kept in a state of political antagonism.
The question of tariff reform must be urged through the organization known as the Democratic Party, and the question of protection with the reciprocity must be forced to view through the Republican Party.
By thus dividing voters, we can get them to expend their energies in fighting over questions of no importance to us, except as teachers to the common herd. Thus, by discrete actions, we can secure all that has been so generously planned and successfully accomplished.
Is it now the BENANKER'S MANIFESTO?
but we wont care as it all crumbles as we watch porn on our iPads and smoke weed until they turn the power grid off
To succeed, learn/understand the game. Don't listen to the noise -- trend lines, oscilators, support/resistance, OBV, Maria, Cramer, (although if you're going to watch CNBC, the best time is between 6 AM and 9 AM, Joe is very entertaining and the best CNBC guests are on during this time; Rick from Chi town is okay, but he talks in riddles and I get a headache trying to figure out what he says; Rick's battles with the bald economic guy are very entertaining, they should have their own half hour where they just yell at each other, ratings would go through the roof), don't ever listen to that Bob guy from the floor (nobody trades based on the news of the day - do you? - then why listen to a guy that simply uses the news of the day to explain market moves - absolutely lame and a tool - and don't tell me that he's reporting the "inside" information from the floor, please, the guys on the floor are feeding him crap because Dan Dorfman is no longer available), back to the noise: that Grasso guy, Fast Money, Buffet, HFT, GS prop desks, the wall street journal, bloomberg, sorros, Pimpco, anybody reporting from Washington DC, anybody working in Washington DC, earnings, blah, blah, etc., etc. Ultimately, the stock market is nothing more than a wealth transfer device. If you understand that, you will understand why it goes up and down. Then you will understand who wins and who loses and you will learn to position yourself to succeed. That is how it is and how it has been.
This has the appearance of conviction but the faint odor of
an enigma.
Ditto. It's a show, to snow Joe, the last to know, and the first to go. All traffic on Main Street now originates on Wall Street. Travel on your own reconnaissance, at your own risk. There are no traffic cops; all traffic signals are misplaced, skewed or removed.
Get on or get out of the way.
Conspiracy facts.
First hand account of the trio in action, Paulson, Bernanke and Geithner who attempted to coerce John Mack to flog Morgan Stanley to Jamie Dimon for 1 Dollar.
http://www.youtube.com/watch?v=R9sQtmPAYO0
We have zips in the wire down here. I say again, expend all remaining rounds on my pod.
I think we should have a Running of the Bankers Event on Wall Street. We give the bankers a two block head start and then we take off after them. When we catch one, we castrate him with the original simple tool- incisors. After the event is over, we all haul dog butt to 33 Broad Street and sit down to a feast of Wall Street oysters with banker gumbo, and guzzle Flying Dog Doggie Style Beer.
If you charge $500/ticket on pay-per-view, in a couple of months when things are worse and more people are pissed, you might just make a dent in the national debt.
First prize to the winner that catches the bankster: You get His offshore accounts.
Orders of magnitude larger than the largest Powerball payout.
Sounds like a fun event; but, what good will it do treating the bankers like someone who has climbed over the junk yard fence. Bankers are a dime a dozen and the oligarchy will just replace them. The bankers steal things of value. Everything in your world has been junked. You are chasing people in the yard who have yet to take anything of value. Chasing bankers is going to make the oligarchy call out the dog catcher who will haul us off to Animal Services; where we will sit out our lives mentoring pound puppies while waiting to be fed. Or, we will have to run into the woods and hide in a hole.
Metaphorically speaking.
We might as well set the ground rules for this dog fight. I do not mentor pound puppies. I suck their brains out through their nostrils and then swallow the little shits whole. The last time Animal Services sent a spastic out to pick me up they had to send a green card out with a mechanical hand on a stick to pick up of the pieces.
If there isn’t anything of value in the junk yard, why do I constantly have after hour part pullers climbing the fence? And I do not chase these fuckers before they steal anything. I wait until they have their arms, their head and upper torso well inside the engine cavity of that 1991 Chevrolet Caprice Classic and are standing on their tip toes before I pull them out from under the hood by their ass. Next, I rip out their asshole like I am popping the cork from a wine bottle and shake them like a Raggedy Andy doll. Have you ever seen a 6’2”, 210 pound moonlighter try to climb a barbed wire topped 10’ chain link fence with a 120 pound bulldog attached to his ass? It is real entertaining. I love the screams of “help me” at 2:00 in the morning.
I am not going to run into the woods, dig a giant hole in the ground, pack it with a six month supply of cats, rabbits and squirrels, and hope that the bad guys do not find me. I am going to keep my dog house and I am going to hunt down these bad guy fuckers. When I find one I am going to bite his ass in half, take what he has that I want, and go hunt down another one until there are no more of the bastards.
You can sit in that 3’x 5’ cage sucking on that oligarchy tit while telling the pound puppies stories of how you use to get lost standing in your own damn front yard. Then one morning, when you are waiting for a fresh tit, you will receive the booster shot from hell. And that will be the end of another leg humping, ass sniffing, gravy train slurping, shit eater.
Metaphorically speaking
Absolutely outstanding.
Your Wall Street Oyster dinner reminded me of the old joke about the frequent tourist visitor to the Madrid bullfights. His favorite Spanish restaurant featured large Mountain Oysters the day after the bullfight and he always looked forward to it.
But coming into town late one night, after missing the bullfights and stopping at the restaurant, he was disappointed that the Mountain Oysters were very small.
When asked why this was, the waiter quietly replied, Senor, the bull, he does not always lose.
Brilliant.
David Reilly and Jonathan Weil are the best journalists in the business.
If you care, go to the front carriage of this mad train we are on and you will find no-one sane working the controls. ever thought the fight isn't against some organised cabal but loosely organised insanity? That is scarier
Revolution is both a function of bottom up emergence and top down calcification and collapse. The current system seems destined to implode, by there doesn't seem to be a consensus around which people are rallying. On the right, it's the tea baggers and on the left, it was Obama.
The powers that be are students of history and capitalism is more eco-system than organism, so it's very effective at absorbing and defining new movements. Its problem is that it's become far too unrestrained at siphoning value from all aspects of society, the environment and the economy.
That's why I think the most effective response will be to strike at its heart and argue that since the banking system has made maintaining the value of the currency a public responsibility and they are incapable of responsibly managing it, then we have to accept that money really is the public utility which it is, not the private store of wealth we want it to be and managing it, as well as reaping the rewards from managing it are necessarily a public function. If we didn't have these casino operators owning the economic circulatory system, than other sectors of the economy, from manufacturing to health care to resource management, would store value within their professions/environments and not feel the need to define everything in terms of currency. This would bring the whole situation back into focus.
Capital is money. Capitalism is rule by the bankers. After three hundred years, their copyright should pass into the public domain. Like democracy, it would have to be a bottom up system of local banks serving their own communities and these as shareholders in state banks, which govern a national bank to manage a national currency.
A related problem is government funding. This system is designed to overspend by buying votes for enormous bills that can only be passed or vetoed, which serves to create debt in order to store capital. In the spirit of actual budgeting, a possible solution would be to break these bills down to their constituent items and have every legislator assign a percentage value to each one and then re-assemble them in order of preference. The president would draw the line at what would be funded. This would divide responsibility, allowing the legislature to prioritize, while giving the president final authority over total spending. Since making the cut would be graded on a curve, there would be much less incentive to trade favors and the percentage system would allow legislators to fine tune their granting of favors to other legislators and lobbyists. Since this would reduce local spending, a system of local community banks funding their own communities would fill this need. If the bankers really thought they were all powerful and not just parasites, they would be far less secretive about what they are doing.Conspiracy is fact? Truth is stranger than fiction/conspiracy?
When the going gets weird, the weird turn pro.
If no criminal activity was done why did Paulson demand immunity from Congress?
On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against
the Board of Governors of the Federal Reserve Bank system, The Comptroller of
the Currency and the Secretary of United States Treasury for numerous criminal
acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND
TREASON.
Obviously, his charges have yet to be acted upon.
McFadden served as Chairman of the Banking and Currency Committee, so the man
knew what he was talking about here.
If you have any doubts that the Fed is really owned by private, FOREIGN bankers,
allow a man who lived through this travesty tell you what we’ve been telling
you…
“Mr. Chairman, we have in this Country one of the most corrupt institutions the
world has ever known. I refer to the Federal Reserve Board and the Federal
Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of
these United States and the people of the United States out of enough money to
pay the Nation’s debt. The depredations and iniquities of the Fed has cost
enough money to pay the National debt several times over.
This evil institution has impoverished and ruined the people of these United
States, has bankrupted itself, and has practically bankrupted our Government. It
has done this through the defects of the law under which it operates, through
the maladministration of that law by the Fed and through the corrupt practices
of the moneyed vultures who control it.
Some people think that the Federal Reserve Banks are United States Government
institutions. They are private monopolies which prey upon the people of these
United States for the benefit of themselves and their foreign customers; foreign
and domestic speculators and swindlers; and rich and predatory money lenders.
In that dark crew of financial pirates there are those who would cut a man’s
throat to get a dollar out of his pocket; there are those who send money into
states to buy votes to control our legislatures; there are those who maintain
International propaganda for the purpose of deceiving us into granting of new
concessions which will permit them to cover up their past misdeeds and set again
in motion their gigantic train of crime.
These twelve private credit monopolies were deceitfully and disloyally foisted
upon this Country by the bankers who came here from Europe and repaid us our
hospitality by undermining our American institutions. Those bankers took money
out of this Country to finance Japan in a war against Russia. They created a
reign of terror in Russia with our money in order to help that war along.
They instigated the separate peace between Germany and Russia, and thus drove a
wedge between the allies in World War I. They financed Trotsky’s passage from
New York to Russia so that he might assist in the destruction of the Russian
Empire.
They fomented and instigated the Russian Revolution, and placed a large fund of
American dollars at Trotsky’s disposal in one of their branch banks in Sweden so
that through him Russian homes might be thoroughly broken up and Russian
children flung far and wide from their natural protectors.
They have since begun [the] breaking up of American homes and the dispersal of
American children. Mr. Chairman, there should be no partisanship in matters
concerning banking and currency affairs in this Country, and I do not speak with
any.
In 1912 the National Monetary Association, under the chairmanship of the late
Senator Nelson W. Aldrich, made a report and presented a vicious bill called the
National Reserve Association bill. This bill is usually spoken of as the Aldrich
bill.
Senator Aldrich did not write the Aldrich bill. He was the tool, if not the
accomplice, of the European bankers who for nearly twenty years had been
scheming to set up a central bank in this Country and who in 1912 had spent and
were continuing to spend vast sums of money to accomplish their purpose.
We were opposed to the Aldrich plan for a central bank. The men who rule the
Democratic Party then promised the people that if they were returned to power
there would be no central bank established here while they held the reigns of
government.
Thirteen months later that promise was broken, and the Wilson administration,
under the tutelage of those sinister Wall Street figures who stood behind
Colonel House, established here in our free Country the worm-eaten monarchical
institution of the ‘King’s Bank’ to control us from the top downward, and from
the cradle to the grave.
The Federal Reserve Bank destroyed our old and characteristic way of doing
business. It discriminated against our One-Name commercial paper, the finest in
the world, and it set up the antiquated Two-Name paper, which is the present
curse of this Country and which wrecked every country which has ever given it
scope; it fastened down upon the Country the very tyranny from which the framers
of the Constitution sought to save us.”
Wow! You never read that in one of your ‘doctored up’ history books, did you?
It's not just the Fed, it's ALL bankers, and in fact ALL people who think that exchanging pieces of paper or moving digital blips around the world at light speed add value to humanity.
In my experience with folks of this ilk, including many in this superficial edifice of ZH, they feel their "work" is equal to that of an actual laborer, someone who adds value into the world by expending calories, not by sitting in a chair in an air conditioned office looking at a screen and pressing buttons.
DOWN with the money changers, all of them! Tear down their temples and pulverize them into dust. Expel them into the wilderness so that their presence doesn't foul the righteous who actually produce for society.
Fuck. Your. Scrip.
I am Chumbawamba.
+100. All that "industry" does is extract and expect to be rewarded handsomely for it.
The following are excerpts from Lincoln’s Monetary Policy from Senate Document No. 23. It’s sourced from uhuh.com. “The monetary needs of increasing numbers of people advancing toward higher standards of living can and should be met by the Government. Such needs can be served by the issue of national currency and credit through the operation of a national banking system. The circulation of a medium of exchange issued and backed by the Government can be properly regulated and redundancy of issue avoided by withdrawing from circulation such amounts as may be necessary by taxation, redeposit, and otherwise. Government has the power to regulate the currency and credit of the nation. Government should stand behind its currency and credit and the bank deposits of the Nation. No individual should suffer a loss of money through depreciated or inflated currency or bank bankruptcy. Government possessing the power to create and issue currency and credit as money and enjoying the right to withdraw both currency and credit from circulation by taxation and otherwise, need not and should not borrow capital at interest as the means of financing governmental work and public enterprise. The Government should create, issue, and circulate all the currency and credit needed to satisfy the spending power of the Government and the buying power of consumers. The privilege of creating and issuing money is not only the supreme prerogative of Government, but it is the Government’s greatest creative opportunity.” As you now know, the Government didn’t listen to Abraham Lincoln as it has illegally farmed its Money Creation Duties out to a private bank called the Federal Reserve.
I don't think people realize what a historic event this is. Us bloggers have been saying this for a long time. We already know about the conspiracy, and it was played out in front of congress the other day. We know the NY fed role.
Now a major news outlet publishes what would used to be considered fringe. It's much harder to attack as as nut cases, etc. This is the sort of thing we have been working for for a long time. It means we are having some effect.
Think about this, when I was telling people (professionals) the same thing over year ago I was a nut job. Not anymore
Boston Activists Rally at Goldman Sachs
January 28th, 2010
http://www.jwjblog.org/2010/01/boston-activists-rally-at-goldman-sachs/
in 1997, two guys wrote a book in which they predicted, based on cycles they believed they could see in history, that we would face a major crisis, one that would threaten the very Nation, between 2006-2026. the book is called the Fourth Turning, here is an article written in '09 correlating current events with the book: http://www.marketoracle.co.uk/Article14397.html
My question is after reading one of your other collums is if Goldman already collected from AIG say 50% of the value of the CDS's in collateral, (as you stated per their Contract with AIG in one of your previous collums) did they then collect ANOTHER 100% when paid out by the FED?
I believe that Goldman said that they already had their position "HEDGED". When they said Hedged did that mean that they already collected from AIG a percentage of the value of the CDS's?
If they had already received say 50% from AIG as per the Contract whereby AIG had to pay Goldman for any loss of value in the CDS's. Did Goldman then Collect another 100% on the value of the CDS's.
So, in effect Goldman could have received upward of 150% for their CDS's.
The first rule of the secret banking cabal:
There is no secret banking cabal.
Damnation! I thought I was the only one who knew that rule!
Back to chugging that bottled water.
We know that the New York banksters financed Stalins Communism and Reign of Terror that imprisoned billions of europeans,etc Thats not enough evidence? You mean you need more evidence? Read some books folks.We still got libraries you know.
It is a good thing to have been a crazy loon all these years and to finally have been proven correct.
Still, it doesn't detract from the sadness of the situation.
:(
All of you should join our collaboration club with unmatched rewards.
http://www.youtube.com/rebelforacause#p/f
wow they are finally writing about this, even though they r still just mocking the truth, lol, back to my peanut butter sandwiches
At the inception of the Oscar Iden Lecture Series at Georgetown, 1976,
Professor Carroll Quigley said something to this effect:
"In this modern World money is the most important of the Eight Aspects of Sovereignty.
In the West the creation and control of money and credit is in Private hands".
To obtain a fresh view of money and credit as it works today, at your leisure you may view Winston Shrout being interviewed in London on YouTube:
http://www.youtube.com/watch?v=WKnePfSPerE
Loius Evan from Canada has a solution. See "Social Credit"
Please watch all videos on September 13 th 2008 and decide.
Every Senator should have seen videos of the week before Lehman collapse.
The crisis was not set in a day .Ben was party to all that happened over last 7 years and the whole media appearance changed after Sep 13 .' Oh everything's fine, No recession , contained , banks are fine' to ' we are doomed gives us trillions'
Even I could have done what Ben did ! what's a big deal in printing 12 Trillions and disburse them under different names to my friends' Brilliant mind huh!Americans have more fat inside their heads than their bums.
the last time the people rose up in rebellion, the govt troops crushed them. ( 1863 ) So, govt was too strong even back then.... little hope of excercising that part of original founders' thinking that people should overthrow when govt no longer serves..
always thought alfalfa sprout seeds would be a good addition to the bunker storage..... fresh organiz protein
the last time the people rose up in rebellion against the cabals, the govt troops crushed them. ( 1863 ) So, govt was too strong even back then.... little hope of excercising that part of original founders' thinking that people should overthrow when govt no longer serves..
always thought alfalfa sprout seeds would be a good addition to the bunker storage..... fresh organiz protein
I don't drink bottled water, never stored ammo and can't stand peanut butter. Any other stereotypes around?
But I can read, and am able to ponder and reflect upon what I have read. Likewise, I can do pattern analysis, structural analysis, temporal analysis, spatial analysis, statistical and numerical analysis, as well as that most important item, link analysis.
So when I know that the Group of Thirty (group30.org) was established in 1978 by a Rockefeller Foundation directive, and the membership of that group, and the cross-pollination between G30 and the Peterson Institute, and the Bretton Woods Committee (brettonwoods.org -- the ultra-elite lobby) and N.A.B.E., things begin to fit a pattern.
And when I note the communications, back in the early '90s, between G30 and JPMorgan regarding credit derivatives, and then G30's push to adopt them, as well as removing "legal risk" (as in Gramm-Leach-Bliley Act & Commodity Futures Modernization Act), and JPM's internal report, Glass-Steagall: Overdue for Repeal, and next the formation of the Derivatives Policy Group to push for the aforementioned legislative acts in congress (and what members comprise the DPG), things begin to fall in place.
Add the Clinton payoffs (as in putting their investments into Quellos Asset Management - just prior to the purchase by BlackRock -- ever heard of them????) as well as Gramm becoming vice-chairman of UBS, and various similarly-connected positions held by his wife, Wendy, plus all the other connecting dots far too numerous to bother with here, only a brain-dead slug couldn't figure it out.
Conspiracy? Perhaps, but I side with R.T. Naylor who stated that the entire system is rotten to the core.
And remember, hundreds to thousands of criminals are convicted of the count to commit conspiracy every single month in the USA.
Any questions??????
If you have money invest in a farm or farms. You're going to need a place to grow food & get water out of the ground. Save a farmer & share your tin foil hat.
So the new york banksters financed Joe stalin and his communist terror leading to the destruction of several billion people. But only now we acknowledge the new york hucksterism 70 years later? a little slow, wouldnt you say?
Lets not forget the back room Sunday night deal where Chase bought Bear Sterns via the FRB of NY...March 17th 2008 if I recall right, it was the beginning of the fall.
The FRB NY bought Bear sterns but it was really Chase.
And lets not forget when Chase was short silver on about 66% roughly of ALL silver contracts when it was down around $11/OZ not that long ago.
And let's never ever forget that there is always justice in the end, whether or not you like it or believe it, all you scamming thieves AKA bankers will be held accountable for all your misdeeds.
Are we allowed any last requests?