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Nomi Prins: The Clintons & Their Banker Friends

Tyler Durden's picture




 

In the coming months, however many hours Clinton spends introducing herself to voters in small-town America, she will spend hundreds more raising money in four-star hotels and multimillion-dollar homes around the nation. The question is: "Can Clinton claim to stand for 'everyday Americans,' while hauling in huge sums of cash from the very wealthiest of us?" This much cannot be disputed: Clinton's connections to the financiers and bankers of this country - and this country's campaigns - run deep. As Nomi Prins questions, who counts more to such a candidate, the person you met over that chicken burrito bowl or the Citigroup partner you met over crudités and caviar?

 

Via TomDispatch.com,

The Clintons and Their Banker Friends
The Wall Street Connection (1992 to 2016)
[This piece has been adapted and updated by Nomi Prins from chapters 18 and 19 of her book All the Presidents' Bankers: The Hidden Alliances that Drive American Powerjust out in paperback (Nation Books).]

The past, especially the political past, doesn’t just provide clues to the present. In the realm of the presidency and Wall Street, it provides an ongoing pathway for political-financial relationships and policies that remain a threat to the American economy going forward.

When Hillary Clinton video-announced her bid for the Oval Office, she claimed she wanted to be a “champion” for the American people. Since then, she has attempted to recast herself as a populist and distance herself from some of the policies of her husband. But Bill Clinton did not become president without sharing the friendships, associations, and ideologies of the elite banking sect, nor will Hillary Clinton.  Such relationships run too deep and are too longstanding.

To grasp the dangers that the Big Six banks (JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, Goldman Sachs, and Morgan Stanley) presently pose to the financial stability of our nation and the world, you need to understand their history in Washington, starting with the Clinton years of the 1990s. Alliances established then (not exclusively with Democrats, since bankers are bipartisan by nature) enabled these firms to become as politically powerful as they are today and to exert that power over an unprecedented amount of capital. Rest assured of one thing: their past and present CEOs will prove as critical in backing a Hillary Clinton presidency as they were in enabling her husband’s years in office. 

In return, today’s titans of finance and their hordes of lobbyists, more than half of whom held prior positions in the government, exact certain requirements from Washington. They need to know that a safety net or bailout will always be available in times of emergency and that the regulatory road will be open to whatever practices they deem most profitable. 

Whatever her populist pitch may be in the 2016 campaign -- and she will have one -- note that, in all these years, Hillary Clinton has not publicly condemned Wall Street or any individual Wall Street leader.  Though she may, in the heat of that campaign, raise the bad-apples or bad-situation explanation for Wall Street’s role in the financial crisis of 2007-2008, rest assured that she will not point fingers at her friends. She will not chastise the people that pay her hundreds of thousands of dollars a pop to speak or the ones that have long shared the social circles in which she and her husband move. She is an undeniable component of the Clinton political-financial legacy that came to national fruition more than 23 years ago, which is why looking back at the history of the first Clinton presidency is likely to tell you so much about the shape and character of the possible second one.

The 1992 Election and the Rise of Bill Clinton

Challenging President George H.W. Bush, who was seeking a second term, Arkansas Governor Bill Clinton announced he would seek the 1992 Democratic nomination for the presidency on October 2, 1991. The upcoming presidential election would not, however, turn out to alter the path of mergers or White House support for deregulation that was already in play one iota.

First, though, Clinton needed money. A consummate fundraiser in his home state, he cleverly amassed backing and established early alliances with Wall Street. One of his key supporters would later change American banking forever. As Clinton put it, he received “invaluable early support” from Ken Brody, a Goldman Sachs executive seeking to delve into Democratic politics. Brody took Clinton “to a dinner with high-powered New York businesspeople, including Bob Rubin, whose tightly reasoned arguments for a new economic policy,” Clinton later wrote, “made a lasting impression on me.”

The battle for the White House kicked into high gear the following fall. William Schreyer, chairman and CEO of Merrill Lynch, showed his support for Bush by giving the maximum personal contribution to his campaign committee permitted by law: $1,000. But he wanted to do more. So when one of Bush’s fundraisers solicited him to contribute to the Republican National Committee’s nonfederal, or “soft money,” account, Schreyer made a $100,000 donation.

The bankers’ alliances remained divided among the candidates at first, as they considered which man would be best for their own power trajectories, but their donations were plentiful: mortgage and broker company contributions were $1.2 million; 46% to the GOP and 54% to the Democrats. Commercial banks poured in $14.8 million to the 1992 campaigns at a near 50-50 split.

Clinton, like every good Democrat, campaigned publicly against the bankers: “It’s time to end the greed that consumed Wall Street and ruined our S&Ls [Savings and Loans] in the last decade,” he said. But equally, he had no qualms about taking money from the financial sector. In the early months of his campaign, BusinessWeek estimated that he received $2 million of his initial $8.5 million in contributions from New York, under the care of Ken Brody.

“If I had a Ken Brody working for me in every state, I’d be like the Maytag man with nothing to do,” said Rahm Emanuel, who ran Clinton’s nationwide fundraising committee and later became Barack Obama’s chief of staff. Wealthy donors and prospective fundraisers were invited to a select series of intimate meetings with Clinton at the plush Manhattan office of the prestigious private equity firm Blackstone.

Robert Rubin Comes to Washington

Clinton knew that embracing the bankers would help him get things done in Washington, and what he wanted to get done dovetailed nicely with their desires anyway. To facilitate his policies and maintain ties to Wall Street, he selected a man who had been instrumental to his campaign, Robert Rubin, as his economic adviser.

In 1980, Rubin had landed on Goldman Sachs' management committee alongside fellow Democrat Jon Corzine. A decade later, Rubin and Stephen Friedman were appointed cochairmen of Goldman Sachs. Rubin’s political aspirations met an appropriate opportunity when Clinton captured the White House.

On January 25, 1993, Clinton appointed him as assistant to the president for economic policy. Shortly thereafter, the president created a unique role for his comrade, head of the newly created National Economic Council. “I asked Bob Rubin to take on a new job,” Clinton later wrote, “coordinating economic policy in the White House as Chairman of the National Economic Council, which would operate in much the same way the National Security Council did, bringing all the relevant agencies together to formulate and implement policy... [I]f he could balance all of [Goldman Sachs’] egos and interests, he had a good chance to succeed with the job.” (Ten years later, President George W. Bush gave the same position to Rubin’s old partner, Friedman.)

Back at Goldman, Jon Corzine, co-head of fixed income, and Henry Paulson, co-head of investment banking, were ascending through the ranks. They became co-CEOs when Friedman retired at the end of 1994.

Those two men were the perfect bipartisan duo. Corzine was a staunch Democrat serving on the International Capital Markets Advisory Committee of the Federal Reserve Bank of New York (from 1989 to 1999). He would co-chair a presidential commission for Clinton on capital budgeting between 1997 and 1999, while serving in a key role on the Borrowing Advisory Committee of the Treasury Department. Paulson was a well connected Republican and Harvard graduate who had served on the White House Domestic Council as staff assistant to the president in the Nixon administration.

Bankers Forge Ahead

By May 1995, Rubin was impatiently warning Congress that the Glass-Steagall Act could “conceivably impede safety and soundness by limiting revenue diversification.” Banking deregulation was then inching through Congress. As they had during the previous Bush administration, both the House and Senate Banking Committees had approved separate versions of legislation to repeal Glass-Steagall, the 1933 Act passed by the administration of Franklin Delano Roosevelt that had separated deposit-taking and lending or “commercial” bank activities from speculative or “investment bank” activities, such as securities creation and trading. Conference negotiations had fallen apart, though, and the effort was stalled.

By 1996, however, other industries, representing core clients of the banking sector, were already being deregulated. On February 8, 1996, Clinton signed the Telecom Act, which killed many independent and smaller broadcasting companies by opening a national market for “cross-ownership.” The result was mass mergers in that sector advised by banks.

Deregulation of companies that could transport energy across state lines came next. Before such deregulation, state commissions had regulated companies that owned power plants and transmission lines, which worked together to distribute power. Afterward, these could be divided and effectively traded without uniform regulation or responsibility to regional customers. This would lead to blackouts in California and a slew of energy derivatives, as well as trades at firms such as Enron that used the energy business as a front for fraudulent deals.

The number of mergers and stock and debt issuances ballooned on the back of all the deregulation that eliminated barriers that had kept companies separated. As industries consolidated, they also ramped up their complex transactions and special purpose vehicles (off-balance-sheet, offshore constructions tailored by the banking community to hide the true nature of their debts and shield their profits from taxes). Bankers kicked into overdrive to generate fees and create related deals. Many of these blew up in the early 2000s in a spate of scandals and bankruptcies, causing an earlier millennium recession.

Meanwhile, though, bankers plowed ahead with their advisory services, speculative enterprises, and deregulation pursuits. President Clinton and his team would soon provide them an epic gift, all in the name of U.S. global power and competitiveness. Robert Rubin would steer the White House ship to that goal.

On February 12, 1999, Rubin found a fresh angle to argue on behalf of banking deregulation. He addressed the House Committee on Banking and Financial Services, claiming that, “the problem U.S. financial services firms face abroad is more one of access than lack of competitiveness.”

He was referring to the European banks’ increasing control of distribution channels into the European institutional and retail client base. Unlike U.S. commercial banks, European banks had no restrictions keeping them from buying and teaming up with U.S. or other securities firms and investment banks to create or distribute their products. He did not appear concerned about the destruction caused by sizeable financial bets throughout Europe. The international competitiveness argument allowed him to focus the committee on what needed to be done domestically in the banking sector to remain competitive.

Rubin stressed the necessity of HR 665, the Financial Services Modernization Act of 1999, or the Gramm-Leach-Bliley Act, that was officially introduced on February 10, 1999. He said it took “fundamental actions to modernize our financial system by repealing the Glass-Steagall Act prohibitions on banks affiliating with securities firms and repealing the Bank Holding Company Act prohibitions on insurance underwriting.”

The Gramm-Leach-Bliley Act Marches Forward

On February 24, 1999, in more testimony before the Senate Banking Committee, Rubin pushed for fewer prohibitions on bank affiliates that wanted to perform the same functions as their larger bank holding company, once the different types of financial firms could legally merge. That minor distinction would enable subsidiaries to place all sorts of bets and house all sorts of junk under the false premise that they had the same capital beneath them as their parent. The idea that a subsidiary’s problems can’t taint or destroy the host, or bank holding company, or create “catastrophic” risk, is a myth perpetuated by bankers and political enablers that continues to this day.

Rubin had no qualms with mega-consolidations across multiple service lines. His real problems were those of his banker friends, which lay with the financial modernization bill’s “prohibition on the use of subsidiaries by larger banks.”  The bankers wanted the right to establish off-book subsidiaries where they could hide risks, and profits, as needed.

Again, Rubin decided to use the notion of remaining competitive with foreign banks to make his point. This technicality was “unacceptable to the administration,” he said, not least because “foreign banks underwrite and deal in securities through subsidiaries in the United States, and U.S. banks [already] conduct securities and merchant banking activities abroad through so-called Edge subsidiaries.” Rubin got his way. These off-book, risky, and barely regulated subsidiaries would be at the forefront of the 2008 financial crisis.

On March 1, 1999, Senator Phil Gramm released a final draft of the Financial Services Modernization Act of 1999 and scheduled committee consideration for March 4th. A bevy of excited financial titans who were close to Clinton, including Travelers CEO Sandy Weill, Bank of America CEO, Hugh McColl, and American Express CEO Harvey Golub, called for “swift congressional action.”

The Quintessential Revolving-Door Man

The stock market continued its meteoric rise in anticipation of a banker-friendly conclusion to the legislation that would deregulate their industry. Rising consumer confidence reflected the nation’s fondness for the markets and lack of empathy with the rest of the world’s economic plight. On March 29, 1999, the Dow Jones Industrial Average closed above 10,000 for the first time. Six weeks later, on May 6th,  the Financial Services Modernization Act passed the Senate. It legalized, after the fact, the merger that created the nation’s biggest bank.  Citigroup, the marriage of Citibank and Travelers, had been finalized the previous October.

It was not until that point that one of Glass-Steagall’s main assassins decided to leave Washington. Six days after the bill passed the Senate, on May 12, 1999, Robert Rubin abruptly announced his resignation. As Clinton wrote, “I believed he had been the best and most important treasury secretary since Alexander Hamilton... He had played a decisive role in our efforts to restore economic growth and spread its benefits to more Americans.”

Clinton named Larry Summers to succeed Rubin. Two weeks later, BusinessWeek reported signs of trouble in merger paradise -- in the form of a growing rift between John Reed, the former Chairman of Citibank, and Sandy Weill at the new Citigroup. As Reed said, “Co-CEOs are hard.” Perhaps to patch their rift, or simply to take advantage of a political opportunity, the two men enlisted a third person to join their relationship -- none other than Robert Rubin.

Rubin’s resignation from Treasury became effective on July 2nd. At that time, he announced, “This almost six and a half years has been all-consuming, and I think it is time for me to go home to New York and to do whatever I’m going to do next.” Rubin became chairman of Citigroup’s executive committee and a member of the newly created “office of the chairman.” His initial annual compensation package was worth around $40 million.  It was more than worth the “hit” he took when he left Goldman for the Treasury post.

Three days after the conference committee endorsed the Gramm-Leach-Bliley bill, Rubin assumed his Citigroup position, joining the institution destined to dominate the financial industry. That very same day, Reed and Weill issued a joint statement praising Washington for “liberating our financial companies from an antiquated regulatory structure,” stating that “this legislation will unleash the creativity of our industry and ensure our global competitiveness.”

On November 4th, the Senate approved the Gramm-Leach-Bliley Act by a vote of 90 to 8.  (The House voted 362–57 in favor.) Critics famously referred to it as the Citigroup Authorization Act.

Mirth abounded in Clinton’s White House. “Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the twenty-first century,” Summers said. “This historic legislation will better enable American companies to compete in the new economy.”

But the happiness was misguided. Deregulating the banking industry might have helped the titans of Wall Street but not people on Main Street. The Clinton era epitomized the vast difference between appearance and reality, spin and actuality. As the decade drew to a close, Clinton basked in the glow of a lofty stock market, a budget surplus, and the passage of this key banking “modernization.” It would be revealed in the 2000s that many corporate profits of the 1990s were based on inflated evaluations, manipulation, and fraud. When Clinton left office, the gap between rich and poor was greater than it had been in 1992, and yet the Democrats heralded him as some sort of prosperity hero.

When he resigned in 1997, Robert Reich, Clinton’s labor secretary, said, “America is prospering, but the prosperity is not being widely shared, certainly not as widely shared as it once was... We have made progress in growing the economy. But growing together again must be our central goal in the future.”  Instead, the growth of wealth inequality in the United States accelerated, as the men yielding the most financial power wielded it with increasingly less culpability or restriction. By 2015, that wealth or prosperity gap would stand near historic highs.

The power of the bankers increased dramatically in the wake of the repeal of Glass-Steagall. The Clinton administration had rendered twenty-first-century banking practices similar to those of the pre-1929 crash. But worse. “Modernizing” meant utilizing government-backed depositors’ funds as collateral for the creation and distribution of all types of complex securities and derivatives whose proliferation would be increasingly quick and dangerous.

Eviscerating Glass-Steagall allowed big banks to compete against Europe and also enabled them to go on a rampage: more acquisitions, greater speculation, and more risky products. The big banks used their bloated balance sheets to engage in more complex activity, while counting on customer deposits and loans as capital chips on the global betting table. Bankers used hefty trading profits and wealth to increase lobbying funds and campaign donations, creating an endless circle of influence and mutual reinforcement of boundary-less speculation, endorsed by the White House.

Deposits could be used to garner larger windfalls, just as cheap labor and commodities in developing countries were used to formulate more expensive goods for profit in the upper echelons of the global financial hierarchy. Energy and telecoms proved especially fertile ground for the investment banking fee business (and later for fraud, extensive lawsuits, and bankruptcies). Deregulation greased the wheels of complex financial instruments such as collateralized debt obligations, junk bonds, toxic assets, and unregulated derivatives.

The Glass-Steagall repeal led to unfettered derivatives growth and unstable balance sheets at commercial banks that merged with investment banks and at investment banks that preferred to remain solo but engaged in dodgier practices to remain “competitive.” In conjunction with the tight political-financial alignment and associated collaboration that began with Bush and increased under Clinton, bankers channeled the 1920s, only with more power over an immense and growing pile of global financial assets and increasingly "open” markets. In the process, accountability would evaporate.

Every bank accelerated its hunt for acquisitions and deposits to amass global influence while creating, trading, and distributing increasingly convoluted securities and derivatives. These practices would foster the kind of shaky, interconnected, and opaque financial environment that provided the backdrop and conditions leading up to the financial meltdown of 2008.

The Realities of 2016

Hillary Clinton is, of course, not her husband. But her access to his past banker alliances, amplified by the ones that she has formed herself, makes her more of a friend than an adversary to the banking industry.  In her brief 2008 candidacy, all four of the New York-based Big Six banks ranked among her top 10 corporate donors. They have also contributed to the Clinton Foundation. She needs them to win, just as both Barack Obama and Bill Clinton did. 

No matter what spin is used for campaigning purposes, the idea that a critical distance can be maintained between the White House and Wall Street is naïve given the multiple channels of money and favors that flow between the two.  It is even more improbable, given the history of connections that Hillary Clinton has established through her associations with key bank leaders in the early 1990s, during her time as a senator from New York, and given their contributions to the Clinton foundation while she was secretary of state. At some level, the situation couldn’t be less complicated: her path aligns with that of the country’s most powerful bankers. If she becomes president, that will remain the case.

 

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Fri, 05/08/2015 - 20:08 | 6074611 green sheen
green sheen's picture

ZH writers were banned from wall st for fraud. They work for the tribe you idiots. You still don't understand what money is and think your gold won't be confiscated after your owners get the debt as high as they can and keep the world servicing it with a stupid fucking gold currency.
Wake the fuck up. Lobby for public banks. You should know who Tyler is by now since he has never mentioned such a thing.
Tyler's only complaint with banks or the Fed is that too much Fed printed money kept them from doing more forclosures like they did after the Great Depression. You stupid fucking morons.
http://www.youtube.com/watch?v=5soFCyjNByk

Fri, 05/08/2015 - 20:15 | 6074633 SmedleyButlersGhost
SmedleyButlersGhost's picture

Whoa -so Hillary is hot and Bill is honest?  Cool. Any chance you can help me buy a diamond mine - W says you're good on the QT.  Don't put this on the web. BTW - hea the last one made my cigar - you know what I mean

Fri, 05/08/2015 - 20:19 | 6074648 TeamDepends
TeamDepends's picture

When "Hillary" shapeshifts fully, "she" is 12' tall. This pretty much ruins most conceptions of reality.

Fri, 05/08/2015 - 20:23 | 6074660 knukles
knukles's picture

You've seen the Truth!

Fri, 05/08/2015 - 20:30 | 6074673 TeamDepends
TeamDepends's picture

Yeah well.... (projectile vomit). Because here she comes.... (fever shadow haze). You buyin' ths round?

Fri, 05/08/2015 - 20:34 | 6074680 knukles
knukles's picture

Youbetcha, bro!

https://video.search.yahoo.com/video/play;_ylt=A2KIo9hqVU1V3hYAx7ssnIlQ;...

beautiful ......

Sure as shit lot easier back in the 60's with Gracie wailing and wondering ....  ah      wondering      about     abou.........

Fri, 05/08/2015 - 21:36 | 6074831 TeamDepends
TeamDepends's picture

You've made an enemy-soul-sucker, it's probably Hillary.

Fri, 05/08/2015 - 22:24 | 6074939 Comte de Saint ...
Comte de Saint Germain's picture

ZeroHedgers are lovers of wealth and pleasure. They are selfish, slothful, and indolent. They can be inspired to rise above their brutish existence only by fear of impending death or catastrophe.

Sat, 05/09/2015 - 03:19 | 6075293 Squid-puppets a...
Squid-puppets a-go-go's picture

i voted you up coz you described me to a tee!

Sat, 05/09/2015 - 06:19 | 6075376 Perseus son of Zeus
Perseus son of Zeus's picture

I hangout here just waiting for that one day that Tyler feeds us a juicy stock tip.

Sat, 05/09/2015 - 09:48 | 6075567 VinceFostersGhost
VinceFostersGhost's picture

 

 

 

Going long cattle futures here.

Sat, 05/09/2015 - 11:15 | 6075739 BoredRoom
BoredRoom's picture

VOTE FOR HILLARY'S VAGINA..... It's a lesbian vagina, but a vagina none the less!

Sat, 05/09/2015 - 00:05 | 6075110 Bananamerican
Bananamerican's picture

Yea, Hillary's a PowerHag™ for sure. Got it! It's TRUE.

now come on Tyler fuckers, let's see some Jeb Red meat, come on dudes! One fer one!

Throw summa that shit up there too! Let's roll.

 

It's like, fuckin', 12 Hitlary stories to ONE Jeb around here....

How can I wake up my retarded Lefty friends if the ZH Prez coverage resembles Red State™?

Sat, 05/09/2015 - 06:20 | 6075377 Perseus son of Zeus
Perseus son of Zeus's picture

PantSuit SkidMark™

Sat, 05/09/2015 - 08:27 | 6075486 neidermeyer
neidermeyer's picture

Jeb's a complete non-starter , no reason to waste time offing him in print.

Sat, 05/09/2015 - 09:11 | 6075533 EmeraldWI
EmeraldWI's picture

Neil Mallon Pierce Bush

 He did his part to bring down Silverado S&L in the 1980's, tarnishing the Bush name forever and ending any hope of family members to enter politics ever again.

Nope. Not awake yet; still dreaming.

Gee, I like that "PowerHag"  word, Bananamerican.

 


 

  

Sat, 05/09/2015 - 11:16 | 6075741 BoredRoom
BoredRoom's picture

If you want socialist media lies go to SEE BS

Fri, 05/08/2015 - 20:33 | 6074681 Keyser
Keyser's picture

Green sheen is just a pseudonym for pond scum... An appropriate nic IMO... 

Fri, 05/08/2015 - 20:49 | 6074716 jdtexas
jdtexas's picture

Hillary's connections go to......Moscow too

 

Russia Bought U.S. Uranium and Boeing Jets With Help From Clintons

Fri, 05/08/2015 - 21:12 | 6074774 TeamDepends
TeamDepends's picture

Brother, don't know who you are but when you say "pond scum", well, you in the club.

Fri, 05/08/2015 - 22:20 | 6074929 TeamDepends
TeamDepends's picture

Oh gosh, fhis gets so difficult but no, when you say "pond scum" it conjures happy memories for us, never mind.

Fri, 05/08/2015 - 20:23 | 6074661 Bay of Pigs
Bay of Pigs's picture

Must be Friday Humor at ZH.

A 6 week troll gets the first comment in...

Fri, 05/08/2015 - 20:40 | 6074692 nmewn
nmewn's picture

"ZH writers were banned from wall st for fraud."

You say banned from Wall Street as if thats a bad thing and define "fraud" vis a vis porn viewing "regulators" and coke & hooker playas Gone Wild ;-)

Sat, 05/09/2015 - 03:56 | 6075307 Squid-puppets a...
Squid-puppets a-go-go's picture

yer, i ran a scan on 'green sheen's previous comments, and the only one that made any sense is the one where he simply types

 

 

 

.

 

 

 

and thats it. the rest is unmitigated lunacy

p.s. nomi prins has the most fabulously slutty eyes.  Thinking mans crumpet par excellance

Sat, 05/09/2015 - 07:22 | 6075425 oudinot
oudinot's picture

Well said, nmewn.

Fri, 05/08/2015 - 20:47 | 6074707 garcam123
garcam123's picture

Fresh air here Plebes............breath deep....

Fri, 05/08/2015 - 21:50 | 6074858 garcam123
garcam123's picture

Fresh air here Plebes............breath deep....

Fri, 05/08/2015 - 23:01 | 6075014 YouThePeople
YouThePeople's picture

Mr. 6 weeks, 6 days, 6 hours has got it all figured out...but he won't share. I visualize this clown standing in front of a mirror screeching "Don't you know who I think I am?"

Sat, 05/09/2015 - 15:29 | 6076255 r00t61
r00t61's picture

His link is to an Ellen Brown video, so he is clearly of the Greenbacker mentality.

Sat, 05/09/2015 - 10:17 | 6075619 sessinpo
sessinpo's picture

green sheen    Lobby for public banks.

----

You do realize that public banks exist. I'll let you figure that one out.

Sat, 05/09/2015 - 13:06 | 6075914 thebigunit
thebigunit's picture

Click to ignore:

[CLICK]

There.  Problem solved.

Fri, 05/08/2015 - 20:09 | 6074617 Ham-bone
Ham-bone's picture

with all the TPP discussion taking place, thought some amount of reality should be injected.

Clinton, while signing the NAFTA bill, stated that “NAFTA means jobs. American jobs, and good-paying American jobs. If I didn’t believe that, I wouldn’t support this agreement.”

Scoreboard since 1994 says?

US population +59 million (+20% more Americans)

US manufacturing jobs -5 miilion (-30% fewer manufacturing jobs)

US debt +$13.4 Trillion (debt to GDP from 64% to 101%)

Real median household income up $1,750 or $83 dollars a year increase ($50.2k to $51.9k)

US corporate profits (after tax) up from $386 b to $1.8 trillion (+475%)

(btw – this is in no way promoting the Republican sellouts as a viable alternative…just stating facts).

And the MSM still hangs onto to Clinton as the last economic miracle worker…

Now it all comes down to this...

http://econimica.blogspot.com/2015/05/veneer-of-us-growth-normalcy-has-worn.html

Fri, 05/08/2015 - 20:13 | 6074628 NoDebt
NoDebt's picture

Hillary is the embodiment of the blind pursuit of power.  There is NOTHING she won't do to get in that White House.  And I mean nothing.

Fri, 05/08/2015 - 20:27 | 6074666 Achilles Heel
Achilles Heel's picture

Ultimately, the jokes on her then because POTUS is about the farthest thing from power that there is. Obama has about much power as Joe Biden.

Sat, 05/09/2015 - 11:44 | 6075776 SofaPapa
SofaPapa's picture

This is the piece I don't understand.  Do these people actually like being slaves to the money that has put them where they are, and which is not theirs?  They are placeholders, and every "donor call" they make just proves that to them again and again and again and again and again...

No, I think they are co-opted.  The dirt there must be on the Clintons and the Bushes at this point is stunning.  They may have believed in the beginning they were going for power, but now they can't get out, a la Hotel California.  Pond scum, stuck floating on the top because it no longer has the capacity for doing anything else.  If they ever try to change their tune, they're dead and they know it.  A miserable existence, I suspect.

Fri, 05/08/2015 - 20:09 | 6074619 NoDebt
NoDebt's picture

Hillary is a shoe-in for our next president, unless she falls down and bumps her head again.

It's pretty obvious she's hung out the "I'm for sale to the highest bidder" sign.  That's a guaranteed winner, especially if you own a printing press or can borrow somebody else's.

Fri, 05/08/2015 - 20:18 | 6074643 SmedleyButlersGhost
SmedleyButlersGhost's picture

I think it's her looks but WHAT DIFFERENCE DOES IT MAKE.  just want to keep that out there

Fri, 05/08/2015 - 20:24 | 6074662 knukles
knukles's picture

What we should do is have the goobermint regulate who is eligible to be president so we don't get any bad ones in there.

Fri, 05/08/2015 - 20:16 | 6074640 Clowns on Acid
Clowns on Acid's picture

Yo green sheen - you understand about 50% of the story. Thats not enough to be casting aspertions on others and using the term "fucking". So STFU and listen moar. You will understand better and worte better posts in the future... hopefully.

Fri, 05/08/2015 - 20:21 | 6074653 Clowns on Acid
Clowns on Acid's picture

Finally an article that documents that Robert Rubin was the main imfluence to the ultra leverage gained by the Inv banks. Bill Clinton sucked , but Robert Rubin sucked moar. Sandy Weill and larry Summers are a close 2nd but Rubin stays in the lead becauswe the former 2 are just not that smart.

The 3 major thieves ... Rubin, Weill, and Summers. Corzine, Paulson, and another Goldman alum , Jim Cramer are all sleazbags of the nth degree and should have lost ALL their money in 2007/08.

Rubin, Weill, and Summers should be arrested and tried.

Fri, 05/08/2015 - 20:34 | 6074685 Quantum Nucleonics
Quantum Nucleonics's picture

Rubin helped bring Gramm Leach Bliley across the finish line, then his reward is a cushy $10 million a year job at Citi, where he either did nothing or steered it into the iceberg in 2008, depending on who you ask.  No, no corruption in DC whatsoever.

Sat, 05/09/2015 - 10:23 | 6075632 sessinpo
sessinpo's picture

You know you two are in the right direction but are off target.

It is not the person, but the ideology or belief. If Rubin didn't exist, it would be someone else stepping in to take those same actions you despise. Thus you must educate and fight the wrong ideology that creates these robots such as Rubin or whomever.

Fri, 05/08/2015 - 20:22 | 6074655 will ling
will ling's picture

just arrest her. try her, convict her and hang her.

Sat, 05/09/2015 - 00:02 | 6075114 Bananamerican
Bananamerican's picture

yea, but NOT JEB!

We NEED him to resurrect America!

Fri, 05/08/2015 - 20:23 | 6074656 chunga
chunga's picture

Woo back up Nomi, don't forget Worthen Bank.

Ha Jackson Stephens, Mack McClarty, Linda Bloodworth-Thomason, Jim McDougal, STOP IT! It's been what? Almost 40 fucking years of non-stop swindles.

http://articles.philly.com/1993-01-17/news/25959645_1_worthen-bank-steph...

Fri, 05/08/2015 - 20:23 | 6074658 Quantum Nucleonics
Quantum Nucleonics's picture

“And now at last it comes. You will give me the Presidency! In place of the Dark Lord you will set up a Queen. And I shall not be dark, but beautiful and terrible as the Morning and the Night! Fair as the Sea and the Sun and the Snow upon the Mountain! Dreadful as the Storm and the Lightning! Stronger than the foundations of the earth. All shall love me and despair!

Fri, 05/08/2015 - 20:29 | 6074665 knukles
knukles's picture

Fuckin-A, dude, you got me sold!
Kim/Belinda 2016

Edit: Seriously.  What the fuck did man do wrong to deserve people like this as our lords and masters?  We musta really pissed off God sometime, or this is really hell.   Or if not, the Worst is Yet to Come.
Aaaaaarrrarraaggghhhh!

 

Fri, 05/08/2015 - 20:45 | 6074700 Oldwood
Oldwood's picture

All we have to do is nothing, and we get all that we deserve.

Fri, 05/08/2015 - 21:59 | 6074881 thatthingcanfly
thatthingcanfly's picture

Galadriel/Elrond 2016.

Sat, 05/09/2015 - 10:09 | 6075603 GMadScientist
GMadScientist's picture

L. Ron / Xenu 2020 - ?

Fri, 05/08/2015 - 20:29 | 6074670 WTFUD
WTFUD's picture

Rope a Dope and Pick a Pocket or Two

Fri, 05/08/2015 - 20:33 | 6074683 TheGreatRecovery
TheGreatRecovery's picture

El Jebbe!  El Jebbe!  :-)

Seriously, I have a feeling that Jeb Bush will be the next USA President.

Sat, 05/09/2015 - 10:08 | 6075601 GMadScientist
GMadScientist's picture

The absolute debasement of modern campaign finance as personified by the Clintons/Rubin/Citgroup and the Bush/Saud/Carlysle Conflegrations is almost enough to make me vote for Bernie or Ron Paul just to be able to say I'm not personally accountable for whatever goes down over the next 5 years.

Sat, 05/09/2015 - 13:54 | 6076035 TheGreatRecovery
TheGreatRecovery's picture

I have done things like that.

Fri, 05/08/2015 - 20:36 | 6074689 Falconsixone
Falconsixone's picture

Way to much to read about a worthless psychotic parasite. The good news seems to be the fucking psychotic parasite jews can't use that thing anymore from all the brusing she takes everyday from the psychotic parasite jew media. Maybe they'll choke on each others vile.

Fri, 05/08/2015 - 20:41 | 6074693 gwar5
gwar5's picture

I was sick of the Clinton Crime family 15 years ago before they stole the White House furniture on their way out the door. Bill hooked up with Lewinsky because he was trying to show Chelsea how to swallow.

 

Fri, 05/08/2015 - 20:47 | 6074708 Reaper
Reaper's picture

"Things are not what they seem. Skim milk masquerades as cream." ~Gilbert & Sullivan.

Everything in the media is theater. Hillary wears a mask and covering robes. The media demands you ignore the obvious and trust them to report honestly. Power corrupts. Cash corrupts. Feminism corrupts. Trust corrupts.

What god granted you resolution for your penance by voting for Barack? What god will grant you absolution for voting for Cankles to absolve your guilt for denying feminism? Does the media chose your god? What god chose Cankles?

Have you accepted the media's narrative that you ought love Bill because he got away with his criminal perversions? Have you decided to reward Cankles for her enabling your champion, Bill, to escape consequences?

Stupidity, trust and hope in thieves is never rewarded.

Sat, 05/09/2015 - 10:21 | 6075629 GMadScientist
GMadScientist's picture

Men go crazy in congregations; they only get better one by one.

Fri, 05/08/2015 - 20:48 | 6074711 Soul Glow
Soul Glow's picture

Clintons are in it for the money and fame just like all of 'em.

Sat, 05/09/2015 - 10:20 | 6075627 GMadScientist
GMadScientist's picture

Most of the problems in society can be traced back to a few sociopathic individuals and their personal belligerence and egomaniacism; perhaps it is our well-adjusted lack of ruthless ambition which prevents us from ridding ourselves of this pestilent subset of humanity before it does more harm.

 

Fri, 05/08/2015 - 20:48 | 6074714 Parafuso
Parafuso's picture

"The question is: "Can Clinton claim to stand for 'everyday Americans,' while hauling in huge sums of cash from the very wealthiest of us?""

Um, no...... next question, please

Sat, 05/09/2015 - 10:22 | 6075630 GMadScientist
GMadScientist's picture

The lying cunt can "claim" whatever she wants. She can "claim" that the grass is blue and the sky is green, snakes have feet, and she's hot, but that doesn't make it so.

 

Fri, 05/08/2015 - 20:58 | 6074744 tuueyes
tuueyes's picture

This post (and the book) is already out of date

By the time of the election HRC together with most of the others will not be able to deny that have two masters and will have no choice but to adopt the position that they intend to ensure that there is a conduit between between the two extremes...  

Fri, 05/08/2015 - 21:21 | 6074791 q99x2
q99x2's picture

Would it be a such a big deal if they relocated Washington D.C. to New Zealand and just let us alone. We could even offer to send them the same amount of taxes just to get them the F out of here. That would solve a lot of problems for everyone. And while I'm at it, they can take the CIA and the NSA with them because they are nothing but liabilities to US tech. Now you got me started, and if you go to any US Chinese cable station you'll see China runs adds for CIA employment more than America ever did. Send those idiots to China. Go on get em all outta here.

Sat, 05/09/2015 - 09:52 | 6075573 Wild Theories
Wild Theories's picture

Why do you hate New Zealand so?

Fri, 05/08/2015 - 21:48 | 6074812 alexcojones
alexcojones's picture

Clinton Crime Family or Bush Crime Family?

Which is greater group of Thugs?

Fuck Goldman and fuck the banksters.

 

Sat, 05/09/2015 - 10:18 | 6075622 GMadScientist
GMadScientist's picture

I'll take the puppet on the third hand, please.

Fri, 05/08/2015 - 21:31 | 6074815 Dixie Flatline
Dixie Flatline's picture

It would be an honor to be gulaged by Hitlery Klinton,  the sodomite power hungry whore.

 

Fri, 05/08/2015 - 21:41 | 6074841 BI2
BI2's picture

What about the CLintons and their cursed friends? >>>  http://wp.me/p4OZ4v-3z

Fri, 05/08/2015 - 21:41 | 6074842 VWAndy
VWAndy's picture

Man I would pay to see a real debate between Naomi and Hillery.

Fri, 05/08/2015 - 22:33 | 6074962 kchrisc
kchrisc's picture

If one hits 30 and a) still pays attention to the pols' crap, and b) still votes, there is something wrong with that person.

Either they are insane, or they have, or feel they have, a stake in their machinations.

Liberty is a demand. Tyranny is submission.

 

Sheeple Census 2016
Pick Your Butcher.

Fri, 05/08/2015 - 23:10 | 6075032 Trucker Glock
Trucker Glock's picture

What is the most painful, yet long-lasting cancer?  I need to know what to hope for for the Clintons and some other oligarchs and banksters.  Pancreatic kills too quickly.  I'd settle for colorectal, if they had to share a bag after having their asses sewn shut.

Fri, 05/08/2015 - 23:45 | 6075094 BoPeople
BoPeople's picture

Hitlery is simply a joke. She does not represent Americans any more than she represents the human race.

By Bill's own admission, their so called charity is nothing of the sort, it exists so that they can "pay the bills". Seriously, only 10% of their collections go to charitable purposes. It is a vehicle for bribery and embezzlement.

Fri, 05/08/2015 - 23:48 | 6075097 spqrusa
spqrusa's picture

Banker worries are secondary to the fact that USSA government at all levels has been captured by the agency who does the bidding of the Bankers. Neither can be dislodged with "voting".

Fri, 05/08/2015 - 23:52 | 6075102 koan
koan's picture

The question is: "Can Clinton claim to stand for 'everyday Americans,' while hauling in huge sums of cash from the very wealthiest of us?"

The real question is: Do any of us have to ask that question?

Sat, 05/09/2015 - 00:48 | 6075172 TeethVillage88s
TeethVillage88s's picture

RedRum, RedRum, Democide. Murder by Government. Murder by False War.

- Some say that killing Women & Kids by Hillary & Barack is A-Okay.

- Some Believe that War over 600 or even over 900 Miles from CONUS is Justified by Rhetoric.

Death by Government is both when our kids get killed in foreign wars against people with no army, navy, air force and are over 900 miles outside of our country... and when we kill women and kids in the effort who simply live in places where we bomb, drone, torture, or attack with disease or chembio-nuclear weapons.

Hillary's Selection and Term as Secretary of State makes her a clear Military/CIA Type US Tool of Murder.

Sat, 05/09/2015 - 02:45 | 6075262 joego1
joego1's picture

I grunt out a Clinton every morning regularly, how about you?

Sat, 05/09/2015 - 03:26 | 6075295 DutchBoy2015
DutchBoy2015's picture

Would love to see her be the first FEMALE President assassinated.

Sat, 05/09/2015 - 10:15 | 6075615 GMadScientist
GMadScientist's picture

Please don't wait that long; your logic would've made Sarah Palin, "Queen of Real America", or a Heartless Emperor Cheney.

Sat, 05/09/2015 - 10:30 | 6075649 sessinpo
sessinpo's picture

SS visit in 3, 2, 1....

Don't make dumbass statments like that no matter what your political views are.  You are one of those dumbasses that gets emotional and makes bad choices. I don't like Hilliary and I don't want her for president. But I certainly wouldn't say I want her assassinated. I am not that dumb.

Perhaps that is why you are still a boy.

Sat, 05/09/2015 - 13:55 | 6076036 DutchBoy2015
DutchBoy2015's picture

Its obvious to see that you have no reading comprehension.  Read my comment again, sonny, 

BTW I am almost 70 so fuck off..

Sat, 05/09/2015 - 03:27 | 6075296 Crassus
Crassus's picture

If you were a contestant on Jeopardy in 1975, and the answer was, "The candidates for this country's presidential election are the son and brother of former presidents; and the wife of a former president." You'd answer, "What is Uruguay?"

Sat, 05/09/2015 - 10:17 | 6075618 GMadScientist
GMadScientist's picture

You need to learn more American History; how many Adamses? It was intentionally dynastic from the start; fuck it's why we have a Senate.

Sat, 05/09/2015 - 10:37 | 6075656 sessinpo
sessinpo's picture

He needs to learn more than American history but world history.

Sat, 05/09/2015 - 03:42 | 6075303 DutchBoy2015
DutchBoy2015's picture

Killlary says '' I don't need to go to some fucking Wailing Wall like little Rand and other pukes.  I made sure my daughter married a Jew, because I know who makes Presidents''. 

Sat, 05/09/2015 - 08:45 | 6075507 Niall Of The Ni...
Niall Of The Nine Hostages's picture

Why, yes she does. It's the banksters, whose number with Jewish blood mostly see it as a way to get a second passport, just in case. People who take Mosaic law seriously just don't work on Wall Street. 

The Israelis have been paying for Oslo these twenty years. You really think they want another Clinton as POTUS?

Free Yigal Amir. We need him to sort out Huma Abedin and her "mommy."

Sat, 05/09/2015 - 15:42 | 6076284 Counterpunch
Counterpunch's picture

the Israelis havent paid for Oslo just as they havent paid for their war crimes

or absurd official racism

http://www.globalresearch.ca/netanyahu-appoints-ayelet-shaked-who-called...

Rare of a hasbarat troll to pick such a name.

You're about as Irish as Kolomoisky, amadan.

Sat, 05/09/2015 - 07:43 | 6075443 overmedicatedun...
overmedicatedundersexed's picture

green, will listen to ms brown when i can, as for ZH, 7 weeks a member is not enough time to make you a critic of tylers or zh..perhaps ms brown can submit a post here?

Sat, 05/09/2015 - 09:18 | 6075540 f16hoser
f16hoser's picture

Hillary Clinton: A Skanky Old Cunt

That say's it all me thinks...

Sat, 05/09/2015 - 09:19 | 6075543 f16hoser
f16hoser's picture

Nomi Prins on the other hand: Is a World-Class Hottie!

Sat, 05/09/2015 - 10:14 | 6075611 GMadScientist
GMadScientist's picture

Sure, if you're into banging Mossad agents.

Sat, 05/09/2015 - 10:40 | 6075661 sessinpo
sessinpo's picture

I think you are a Mossad agent working for the CIA and moonlighting for the FSB. There are other agencies you are under I can't expose without killing everyone here on ZH.

Sat, 05/09/2015 - 10:13 | 6075607 GMadScientist
GMadScientist's picture

There's special room in hell for that turtle-looking dumbass motherfucker Gramm and his conniving, shrill harpy of a wife too.

Sat, 05/09/2015 - 11:22 | 6075750 sam site
sam site's picture

The parallels to 1929 comparing margin buying of stocks with todays margin buying of derivative contracts using leverage just shows that the same old scams are repeated in history.

Just as you exposed Wall St theft of depositor funds to collateralize risky derivatives, I would like you Nomi to write a book exposing the theft of America's gold by the Fed in 1928-33 as House Banking Chairman Louis McFadden crusaded against.  A long overdue expose on this Fed theft would be a blockbuster in exposing the criminal nature of the Fed as you have done so well so far - particularly in this Glass-Steagle Repeal expose.

 

Fed stole America's gold and shipped it  to Germany

What no one recognizes to this day is that the Fed stole America's gold and shipped it  to Germany causing bank runs and the 30s Depression. 

Banking Chairman Louis McFadden called on congress in the below speech from the congressional record to join him in the arrest of the Fed for theft and treason. 

Congress was scared sh*tless to join him and left him alone to be assassinated two years later on their third attempt.  

To this day we have morons like NYT economist Paul Krugman and Ben Bernanke stating the cause of the 30s Depression was the fact that we just didn't print enough

money even though we were on a gold standard and you can't print gold.  Just more deception and disinformation from today's United States of Deception.

Even on alternative sites, this truth has not gotten the recognition it deserves.  Most American's believe the Fed is a government agency benefitting them and no one seems to know the cause of the 30s Depression. 

The bank runs of 32-33 were caused by this gold theft from American depositors.  Amazing that 80 years later this truth is still not out and a great American hero was killed trying to stop this theft and treason and the cowards in congress let it all happen.  

For the full speech see

Louis McFadden

http://www.afn.org/~govern/mcfadden.html

His assassination history

Commenting on Former Congressman Louis T. McFaddens's "heart-failure sudden-death" on Oct. 3, 1936, after a "dose" of "intestinal flue," "Pelley's Weekly" of Oct. 14 says:

 Now that this sterling American patriot has made the Passing, it can be revealed that no long after his public utterance against the encroaching powers of Judah, it became known among his intimates that he had suffered two attacks against his life.

The first attack came in the form of two revolver shots fired at him from ambush as he was alighting from a cab in front of one of the Capital hotels. Fortunately both shots missed him, the bullets burying themselves in the structure of the cab.   

"He became violently ill after partaking of food at a political banquet at Washington. His life was only saved from what was subsequently announce as a poisoning by the presence of a physician friend at the banquet, who at once procured a stomach pump and subject the Congressman to emergency treatment." 

/s/ Robert Edward Edmondson (Publicist-Economist) 

 

 Here's some quotes from McFadden's speech from the congressional record.

 

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.

The petition for Articles of Impeachmentas thereafter referred to the Judiciary Committee and has

YET TO BE ACTED ON.

So, this ELECTRONIC BOOKLET should be reprinted, reposted,

set up on web pages and circulated far and wide. 

Congressman McFadden

on the Federal Reserve Corporation

Remarks in Congress, 1934

AN ASTOUNDING EXPOSURE 

 

 

 

Assorted Quotes

"On April 27, 1932, the Fed outfit sent $750,000 belonging to American bank depositors in gold to Germany. A week later another $300,000 in gold was shipped to Germany. About the middle of May $12,000,000 in gold was shipped to Germany by the Fed. Almost every week there is a shipment of gold to Germany. These shipments are not made for profit on the exchange since the German marks are below parity with the dollar.

 

"Mr. Chairman, I believe that the National Bank depositors of these United States have a right to know what the Fed are doing with their money. There are millions of National Bank depositors in the Country who do not know that a percentage of every dollar they deposit in a Member Bank of the Fed goes automatically to American Agents of the foreign banks and that all their deposits can be paid away to foreigners without their knowledge or consent by the crooked machinery of the Fed and the questionable practices of the Fed.

[Ed. Note- Problem with next paragraph in original] "Mr. Chairman, the American people should be told the truth by their servants in office."

 

 

On Roosevelt's anti-hoarding gold law taking the US off the gold standard.

 

"The Fed lately conducted an anti-hoarding campaign here. They  took that extra money which they had persuaded the American people to put into the banks- they sent it to Europe- along with the rest. In the last several months, they have sent $1,300,000,000 in gold to their foreign employers, their foreign masters, and every dollar of that gold belonged to the people of these United States and was unlawfully taken from them."

 

The London Connection

"the officials in charge of the Fed unwisely gave Great Britain immense gold loans running into hundreds of millions of dollars. They did this against the law! Those gold loans were not single transactions. They gave Great Britain a borrowing power in the United States of billions. She squeezed billions out of this Country by means of her control of the Fed."

 

"She abandoned the gold standard and embarked on a campaign of buying up the claims of foreigners against the Fed in all parts of the world. She has now sent her bailiff, Ramsey MacDonald, here to get her war debt to this country canceled. But she has a club in her hands! She has title to the gambling debts which the corrupt and dishonest Fed incurred abroad."

 

"Under cover, the predatory International Bankers have been stealthily transferring the burden of the Fed debts to the people's Treasury and to the people themselves. They the farms and the homes of the United States to pay for their thievery! That is the only national emergency that there has been here since the depression began."

 

"Do not deceive yourself, Mr. Chairman, or permit yourself to be deceived by others into the belief that Roosevelt's dictatorship is in any way intended to benefit the people of the United States: he is preparing to sign on the dotted line! "He is preparing to cancel the war debts by fraud!

 

"He is preparing to internationalize this Country and to destroy our Constitution itself in order to keep the Fed intact as a money institution for foreigners. "Mr. Chairman, I see no reason why citizens of the United States should be terrorized into surrendering their property to the International Bankers who own and control the Fed. The statement that gold would be taken from its lawful owners if they did not voluntarily surrender it, to private interests, show that there is an anarchist in our Government.

"The statement that it is necessary for the people to give their gold- the only real money- to the banks in order to protect the currency, is a statement of calculated dishonesty!

 

"By his unlawful usurpation of power on the night of March 5, 1933, and by his proclamation, which in my opinion was in violation of the Constitution of the United States, Roosevelt divorced the currency of the United States from gold, and the United States currency is no longer protected by gold. It is therefore sheer dishonesty to say that the people's gold is needed to protect the currency.

"Roosevelt ordered the people to give their gold to private interests- that is, to banks, and he took control of the banks so that all the gold and gold values in them, or given into them, might be handed over to the predatory International Bankers who own and control the Fed.

"Roosevelt cast his lot with the usurers. "He agreed to save the corrupt and dishonest  at the expense of the people of the United States."

 

"He took advantage of the people's confusion and weariness and spread the dragnet over the United States to capture everything of value that was left in it. He made a great haul for the International Bankers.

"The Prime Minister of England came here for money! He came here to collect cash!

"He came here with Fed Currency and other claims against the Fed which England had bought up in all parts of the world. And he has presented them for redemption in gold.

"Mr. Chairman, I am in favor of compelling the Fed to pay their own debts. I see no reason why the general public should be forced to pay the gambling debts of the International Bankers.

Roosevelt Seizes the Gold

"By his action in closing the banks of the United States, Roosevelt seized the gold value of forty billions or more of bank deposits in the United States banks. Those deposits were deposits of gold values. By his action he has rendered them payable to the depositors in paper only, if payable at all, and the paper money he proposes to pay out to bank depositors and to the people generally in lieu of their hard earned gold values in itself, and being based on nothing into which the people can convert it the said paper money is of negligible value altogether."

 

"At noon on the 4th of March, 1933, FDR with his hand on the Bible, took an oath to preserve, protect and defend the Constitution of the U.S. At midnight on the 5th of March, 1933, he confiscated the property of American citizens. He took the currency of the United States standard of value. He repudiated the internal debt of the Government to its own citizens. He destroyed the value of the American dollar. He released, or endeavored to release, the Fed from their contractual liability to redeem Fed currency in gold or lawful money on a parity with gold. He depreciated the value of the national currency.

"The people of the U.S. are now using unredeemable paper slips for money. The Treasury cannot redeem that paper in gold or silver. The gold and silver of the Treasury has unlawfully been given to the corrupt and dishonest Fed. And the Administration has since had the effrontery to raid the country for more gold for the private interests by telling our patriotic citizens that their gold is needed to protect the currency.

 

"It is not being used to protect the currency! It is being used to protect the corrupt and dishonest Fed. "The directors of these institutions have committed criminal offense against the United States Government, including the offense of making false entries on their books, and the still more serious offense of unlawfully abstracting funds from the United States Treasury! "Roosevelt's gold raid is intended to help them out of the pit they dug for themselves when they gambled away the wealth and savings of the American people.

 

Dictatorship

"The International Bankers set up a dictatorship here because they wanted a dictator who would protect them. They wanted a dictator who would protect them. They wanted a dictator who would issue a proclamation giving the Fed an absolute and unconditional release from their special currency in gold, or lawful money of any Fed Bank.

 "the people of the U.S. to be left without gold or lawful money and with no currency other that a paper currency irredeemable in gold, and I charge them with having done this for the benefit of private interests, foreign governments, foreign central banks of issue, and the bank of International Settlements"

 

"having permitted them to exercise control over the gold reserves of the U.S. and with having permitted them to transfer upward of $100,000,000,000 of their debts and losses to the general public and the Government of the U.S., and with having permitted foreign debts of the Fed to be paid with the property, the savings, the wages, and the salaries of the people of the U.S. and with the farms and the homes of the American people, and whereas I

 

charge them with forcing the bad debts of the Fed upon the general public covertly and dishonestly and and with taking the general wealth and savings of the people of the U.S. under false pretenses, to pay the debts of the Fed to foreigners"

 

"Whereas I charge them, jointly and severally, with failure to protect and maintain the gold reserves and the gold stock and gold coinage of the U.S. and with having sold the gold reserves of the U.S to foreign Governments, foreign central banks of issue, foreign commercial and private banks, and other foreign institutions and individuals at a profit to themselves, and I charge them with having sold gold reserves of the U.S. so that between 1924 and 1928 the U.S. gained no gold on net account but suffered a decline in its percentage of central gold reserves"

 

"Whereas I charge them, jointly and severally, with having robbed the U.S Government and the people of the U.S. by their theft and sale of the gold reserves of the U.S. and other unlawful transactiving created a deficit in the U.S. Treasury, which has necessitated to a large extent the destruction of our national defense and the reduction of the U.S. Army and the U.S. Navy and other branches of the national defense; and

 

"Whereas I charge them, jointly and severally, of having reduced the U.S. from a first class power to one that is dependent, and with having reduced the U.S. from a rich and powerful nation to one that is internationally poor; and

"Whereas I charge them, jointly and severally, with the crime of having treasonable conspired and acted against the peace and security of the U.S. and with having treasonable conspired to destroy constitutional Government in the U.S.

 

"Resolve, That the Committee on the Judiciary is authorized and directed as a whole or by subcommittee, to investigate the official conduct of the Fed agents to determine whether, in the opinion of the said committee, they have been guilty of any high crime or misdemeanor which in the contemplation the Constitution requires the interposition of the Constitutional powers of the House. Such Committee shall report its finding to the House, together with such resolution or resolutions of impeachment"

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sat, 05/09/2015 - 13:33 | 6075973 GRDguy
GRDguy's picture

Book 1: Sellout: The Inside Story of President Clinton's Impeachment (2001)  Male version.

Book 2: Sellout: The Inside Story of President Clinton's Impeachment (2021?) Female version

Jonathan Gruber said that lack of transparency was a major part of getting Obamacare passed because “the stupidity of the American voter”  He was right.  They're still stupid if they let Book 2 happen.

Do NOT follow this link or you will be banned from the site!