Showing posts with label International Bankers. Show all posts
Showing posts with label International Bankers. Show all posts
Sunday, June 26, 2011
Webster Tarpley on how the Bankers Plan to use Greece as an Example.
Tarpley Says:
--Prime Minister Popandreau must go.
--The 26 billion Euro's of Greek Spending Cuts planned are immoral.
--The 50 billion Euro's that bankers have sited represent a radical criminal privatization, an IMF extortion of private property. It is robbery, theft and extortion.
--Greeks must vote against this new brutal Austerity. The debt cannot be paid.
--Greeks must Negotiate Immediate Unconditional Debt Moratorium.
Thursday, June 23, 2011
World War III Defined: Wider War Unfolding in Middle East
Infowars
June 23, 2011
It’s time to identify the unfolding Middle East crisis for what it is– a wider world war. Elaborating on his previous video “Obama Launching World War III,” Alex Jones analyzes the more than nine years of expanding middle east conflict since 9/11, with the U.S. now engaging in 5 simultaneous proxy wars including Iraq, Afghanistan, Libya, Pakistan and Yemen.
Tensions with Syria, Russia, China and other players may further fan the flames in the region, as top globalists, including Bilderberg attendees, have announced their intention to put ground troops in Libya and kick-off a “big war” encompassing much of Africa, the Middle East and Central Asia.
Despite opposition to the wars in U.S. Congress and throughout the NATO alliance, the Nobel Peace President will continue to try and save face as he escalates deadly conflict on behalf of his masters under a “humanitarian” pretext. The elites have craftily planted the seeds of chaos under the guise of the “Arab Spring” they helped fund and organize, which is now blossoming into an all-out war that could draw in major powers and proxy regimes alike.
__________________________________________________
Obama Launching World War III
Infowars.com
June 17, 2011
In this critically important update, Alex warns that the international banking cartel is using Obama and the US military to start World War III. The controllers of the New World Order believe they can achieve their one world government by destabilizing every country in the the Middle East and northern Africa and draw Russia and China into crisis to create a world-wide catastrophe. Once this event occurs, and the world is brought to the brink of total obliteration, the global banking cartel plans to move in with their final phase: a one world government and eugenics agenda.
Alex urges his listeners to get the word out about this point in history. We are right now in the beginning stages of world war three. If this situation escalates, it can result in the worst world war that mankind has ever suffered.
June 23, 2011
It’s time to identify the unfolding Middle East crisis for what it is– a wider world war. Elaborating on his previous video “Obama Launching World War III,” Alex Jones analyzes the more than nine years of expanding middle east conflict since 9/11, with the U.S. now engaging in 5 simultaneous proxy wars including Iraq, Afghanistan, Libya, Pakistan and Yemen.
Tensions with Syria, Russia, China and other players may further fan the flames in the region, as top globalists, including Bilderberg attendees, have announced their intention to put ground troops in Libya and kick-off a “big war” encompassing much of Africa, the Middle East and Central Asia.
Despite opposition to the wars in U.S. Congress and throughout the NATO alliance, the Nobel Peace President will continue to try and save face as he escalates deadly conflict on behalf of his masters under a “humanitarian” pretext. The elites have craftily planted the seeds of chaos under the guise of the “Arab Spring” they helped fund and organize, which is now blossoming into an all-out war that could draw in major powers and proxy regimes alike.
__________________________________________________
Obama Launching World War III
Infowars.com
June 17, 2011
In this critically important update, Alex warns that the international banking cartel is using Obama and the US military to start World War III. The controllers of the New World Order believe they can achieve their one world government by destabilizing every country in the the Middle East and northern Africa and draw Russia and China into crisis to create a world-wide catastrophe. Once this event occurs, and the world is brought to the brink of total obliteration, the global banking cartel plans to move in with their final phase: a one world government and eugenics agenda.
Alex urges his listeners to get the word out about this point in history. We are right now in the beginning stages of world war three. If this situation escalates, it can result in the worst world war that mankind has ever suffered.
Chance Didn’t Create The Current Economic Crisis
Bob Chapman
International Forecaster
June 23, 2011
What the world is experiencing today did not happen by chance, it was planned that way.
What Congressman Louis McFadden said of the “Great Depression” is as true today as it was in the 1930s. As Chairman of the House Banking Committee he said, “It was no accident; it was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.”
What you are experiencing economically and financially today is nothing new. Just study history all the precedence is there. The bankers and their willing helpers do the same thing over and over again. As we have said often what these banks represent is corporatist fascism and monopoly. Through their great wealth they control most governments and their court systems. That is why your elected representatives do not listen to you. They have already been purchased by Wall Street and banking. These are the same people who have financed most wars on both sides for centuries. Through their banks, and the Bank for International Settlements, and the BIS, they control money laundering and the worldwide drug trade, which is the most lucrative of all enterprises. The centerpiece of all the financial powers of the Illuminists come from the control of the drug trade for centuries.
These bankers and denizens of Wall Street and the City of London control our societies and in particular, business, finance and economics – almost every event within society is controlled by these elitists; as we saw in the stock market dotcom bubble of the late 1990s and the real estate bubble that began in 2003 and ended in 2006. We exited the stock market in the second week of April of 2000 and then again at 14,000, calling for a Dow 6,600 bottom. We believe we have been in a secular bear market in stocks since 2000 and we haven’t as yet seen the bottom by any means. Markets are no longer free and are under constant manipulation by elitists behind government.
The media is filled with one fraud after another. The residential real estate market continues to fall trying to find a bottom. Banks throughout the US, UK and Europe are temporarily saved from insolvency by central banks printing money. In country after country we see runaway deficits. Economic progress is frozen. Inflation grows with each passing day as gold and silver move relentlessly higher. At the same time the poor get poorer and the middle-class is being destroyed. We are witnessing the deliberate destruction of an empire.
Never do we hear a comment pertaining to free trade, globalization, offshoring and outsourcing. It is like it didn’t exist. America has lost 11.7 million jobs and 440,000 businesses over the past 11 years, but Congress evidently is ignorant of the fact that keeping jobs at home is easier than creating new ones. The jobs lost are high paying and the replacement jobs are at the bottom rung. All that has to be done is for Congress to pass legislation implementing tariffs on goods and services and to rescind corporate tax breaks for transnational corporations. It is just that simple. Unfortunately, 95% of Congress is bought and paid for by the very interests that perpetuate this stripping of America. We as well hear nothing from economists or market commentators regarding what passes for free trade. We learned as a nation in the late 1700s that British mercantilism does not work. We then found, on our way to greatness as a nation, fair and equitable tariffs work very well. Not what we have seen for the past 30 years; the deliberate destruction of our nation and our jobs.
Every answer to the job’s problem or meeting competition is a subsidy of one form or another. We know such socialist solutions do not work, but government uses them and business welcomes them. Very simply, nothing has been fixed and the palliatives haven’t worked and that is why we are about to enter credit crisis II, with assistance from Greece and the rest of Europe. The US, UK and Europe are headed for default and nothing can be done to stop the inevitable crack up, all America now specializes in is financial fraud and corruption. We have a country run by a crime syndicate and even when caught the companies are merely fined and among the connected, no one ever goes to jail.
Our system has deliberately been programmed to fail. It has taken $4.3 trillion just to keep the system afloat until the characters behind the curtain decide to pull the plug. Greece could be the catalyst along with warfare spreading throughout the Middle East. Is this the diversion? The war that we predicted? It could be and we’ll shortly find out. The Bilderberg planners in Europe have been stunned by Greece’s refusal to commit national financial and economic suicide.
While the drama in Europe plays itself out the Fed creates money and credit to gobble up 80% of US Treasuries. This causes inflation to continue its relentless climb just as it has in other countries. The money and credit creation by central banks exposes the US, UK and Europe eventually to hyperinflation. We are now also entering the war phase as insolvency becomes more visible. This is as we have predicted over the last 11 years. Most major banks in the US, UK and Europe are insolvent, and are made to look solvent by keeping two sets of books and via accounting ledgermain. Their situations are going to become worse as time goes on as real estate heads for the bottom and stays on the bottom for some time to come.
Unbeknownst to most the bank nightmare of commercial real estate is being financed by the Fed. When and if that stops the banks will have a new set of insurmountable problems. The banks are trapped in a dilemma of their own making and there is no way out. That is in spite of government, the BIS and the FASB allowing them to keep two sets of books. If you do that you will go to jail. Almost 30% of Americans have negative home equity and in Las Vegas it is 84%. By the end of 2011 those figures will be lots worse. Those who have home equity loans are close to 40% upside down. In another two years we envision dreadful conditions for both homeowners and banks. Making matters worse these banks have to hold more funds in reserve because the BIS believes speculation has to be reduced, because these funds may be needed to absorb more bad debts.
As we mentioned in previous issues the federal government is using federal pension funds to fund government operations until August 2nd, when presumably Congress will pass a new short-term debt limit. If we remember correctly government will need $250 to $300 billion by that date. We mentioned last week that government might use this opportunity to commandeer 401Ks and IRAs, and replace them with government guaranteed annuities. This threat is very real and if you do not cash in now you may not get the chance to later. Pay the tax and possible penalty and get out. Most workers are trapped in IRA’s and the only way they can get funds out is to borrow against them. Some 30% have already done so to live on having been laid off or to invest in gold and silver related assets.
There is no political will in America to cut spending and any cuts will be in budget increases over the next ten years. In addition, the President has been given marching orders for war by those who control him to cover up what they have done to the country and to make ever more profits for the connected Illuminists. There has been no way back for America since June of 2003. The debt is beyond payable. The problems are all still there and they are not going to go away. Even if by some miracle a solution to the financial crisis was found, the system is still yet to be purged, so that the banking system could be allowed to go bankrupt, along with many others that have engaged in malinvestment. Then there would be the end of market manipulation, the prosecution of the common criminals on Wall Street and in banking. The end of the Fed, lobbying, campaign contributions, Patriot Acts I and II, Homeland Security, the TSA and many other government agencies. We also have to find out if we really have any gold. The list is copious if not endless. With all of this comes devaluation and default and probably a BBB debt rating. This is why all investments should be in gold and silver related assets. In addition, probably at the top of the list is the criminal prosecution of those on Wall Street, in banking and government who have committed fraud and treason. They should be tried, sentenced and their families relieved of all of their wealth. That should also be applied to those who committed treason and they should forfeit their lives.
There is no question that the recent antics of Fed Chairman Bernanke is leading to the conditioning of the public to higher inflation. He knows inflation is more than 10% not the 3.6% the US government admits too. He and his controllers know full well inflation is headed ever higher because deficit spending cannot be stopped and neither can the Fed’s creation of money and credit.
The Fed has been forced to purchase about 80% of US Treasury debt issues because not only are foreigners not interested in such overrated debt, but also no longer are American households and hedge funds. These unusual discussions, which are precedent setting by the Fed is a form of psy-op conditioning for both the professional sector as well as the public that chooses to listen and can understand. The players all know the economy is weak. Mr. Bernanke verifies that. This is all leading to a major international conference where all currencies will be devalued and revalued and all debt will be multilaterally defaulted upon. A new international trading unit, or currency, perhaps the dollar again, will be put into service as the world reserve currency and it will be backed by 25% in gold. That is what these sessions by the Fed is all about, devaluation and the default of the US dollar. It is not surprising as a result of this, that these speeches and press conferences bring a lower dollar and higher gold and silver prices. The writing is on the wall, as we have pointed out for the past two years. As long as QE3, or something similar, is instituted to prolong the fall into collapse, we can project inflation out for the next few years. The level will depend on what is needed to keep the economy afloat. For QE1 and 2 and stimulus 1 and 2, we see 25% to 30% inflation by the end of 2012. If the Fed injects $1.7 to $2.4 trillion into the economy under QE3 then we will get close to 50% inflation, which to us is hyperinflation in 2013 and 2014. The minute stimulus stops deflationary depression begins. That said, we see that conference we spoke of happening in 2012, 2013 and 2014. At this point the timing is very difficult to call. We know one thing for sure there will be a QE3 or something similar to it.
Many nations are pumping money and credit into their financial systems and economies notably the US, UK and Europe. The financial problems in the euro zone are as problematic as they are in the UK and US, as Greece prepares to default. It will do so unless Europe’s bankers give Greece what we would call at this stage, a sweetheart deal and there will be little or no sales of Greek national assets. The European financial sector has to make a deal, because if they don’t Ireland and Portugal will follow Greece and Europe’s banks will go out of business. Like in the US and UK, subscribers get your money out of European banks and into gold and silver. If you do not, you may lose it all. Once the European-Greece situation is clarified the dollar will again tend lower and the prices of gold and silver higher.
The present state of financial affairs is a sad commentary on the international system of credit and currencies. In Greece the fate of the European financial system hangs by a thread and all those too big to fail European banks, that were subsidized secretly 2-1/2 years ago by the Fed, could go under soon. If central banks were capable of being so dumb as to let Lehman Brothers go under, we are sure they are capable of letting Greece go under. Remember, they really believe they are the masters of the universe. No one in the interconnected international financial system wants to see a Greek failure, but so far the way the banks have handled the situation, so brazen and arrogantly, you would think their game of poker with the Greeks included massive European bank failures. Like it or not Greece is catalyst number 2, Lehman being catalyst one. Bankers do not seem to understand that their Ponzi scheme has become common knowledge via talk radio and the Internet. Their controlled media can no longer bamboozle the world public. Those two sets of books bankers now use to hide nearly worthless debt are becoming known to the public and professionals. People are beginning to understand that Greece, Ireland and Portugal are Lehman all over again. Policymakers main job now is to assist Greece, not to rob and loot it, to save their own corrupt system. Greece, Ireland and Portugal didn’t cause the trillions of unsound debt, the bankers did. They are the experts. They made the loans that should have never been made in the first place. Needless to say the bankers are at least 80% at fault. Banks have to be held responsible. Both France and Germany fail to see it that way and are more than willing to let the bankers off the hook, because the bankers own them.
Worldwide liquidity is drying up because players are afraid to play and the Greek crisis has yet to be contained. These international bankers wanted world banking to be interconnected. They got their wish and it is going to bring them terrible trouble that could destroy them. There are global market forces and they have underestimated how much the world public has been educated by talk radio and the Internet.
We never give into a lie no matter who is perpetrating it. There is no recovery and there never has been a recovery. Thus, we won’t waste our breath discussing such a non-event. About $1.8 trillion, or perhaps more, has been squandered and the only thing QE2 and stimulus 2 have accomplished is slight growth and they have guaranteed 25% inflation next year. The market does not want to purchase marginal debt such as that of the PIIGS, but there will soon come a time when the market will no longer bid for anything but the best paper with real truthful ratings. That time will come soon enough. The painful process of facing reality for Greece and the other PIIGS is still in the formation stages. Mrs. Merkel, German Chancellor and Nicolas Sarkozy, PM of France had their mentors recently show them the light. Their decisions will cost them their next elections and there is no reason to believe working with the Illuminists will save them. These elitists were from the same cabal that terrified and made an early exit from the Bilderberg hive in St. Moritz. A group of gutless wonders who slinked away in the night. These people are vulnerable and they can be beaten.
World markets this year and last were very profitable for speculators due to giant loose money policies perpetrated by the Fed, the Bank of England and the European Central Bank. The latter quite illegally. Governments, and central banks never solve debt or economic problems by throwing money at it. CDS, credit default swaps, are not the answer because those on the other side of the trade are losers. CDS writers in the US are going to disappear over night. In fact it will go on for years if not defaulted upon. There is no easy way – or perhaps no way – out of this financial morass. The con game will find an end over the next few years and we would not like to be in the bankers’ shoes.
Last week the Dow rose 0.4%, S&P was little changed, the Nasdaq 100 fell 1.3% and the Russell 2000 rose 0.3%. Banks rallied 1.5% as broker/dealers fell 0.1%. Cyclicals rose 0.1%; transports 1.9%; consumers 0.8%; utilities 1.1%, as high tech fell 2.6%. Semis fell 3.6%; Internets 2.8% and biotechs 1.4%. Gold bullion gained $8.00, the HUI fell 2.3% and the USDX rose 0.3% to 75.99, down 5.1% year-to-date.
Two year T-bills fell 2 bps to 0.37%, the 10-year T-notes fell 3 bps to 2.94% and the 10-year German bunds were unchanged at 2.96%.
The Freddie Mac 30-year fixed rate mortgages rose 11 points to 4.50%.
Federal Reserve credit rose $25.5 billion to a record $2.810 trillion, up 21% year-on-year.
Fed foreign holdings of Treasury and Agency bonds rose $3.5 billion to $3.447 trillion.
Custody holdings for foreign central banks rose $96 billion year-to-date and $367 billion from a year ago.
M2, narrow, money supply rose $7.9 billion to a record $9.0 trillion.
Total money fund assets fell $34 billion to $2.708 trillion.
Total commercial paper outstanding fell $14.7 billion to $1.206 trillion.
International Forecaster
June 23, 2011
What the world is experiencing today did not happen by chance, it was planned that way.
What Congressman Louis McFadden said of the “Great Depression” is as true today as it was in the 1930s. As Chairman of the House Banking Committee he said, “It was no accident; it was a carefully contrived occurrence. The international bankers sought to bring about a condition of despair here so they might emerge as rulers of us all.”
What you are experiencing economically and financially today is nothing new. Just study history all the precedence is there. The bankers and their willing helpers do the same thing over and over again. As we have said often what these banks represent is corporatist fascism and monopoly. Through their great wealth they control most governments and their court systems. That is why your elected representatives do not listen to you. They have already been purchased by Wall Street and banking. These are the same people who have financed most wars on both sides for centuries. Through their banks, and the Bank for International Settlements, and the BIS, they control money laundering and the worldwide drug trade, which is the most lucrative of all enterprises. The centerpiece of all the financial powers of the Illuminists come from the control of the drug trade for centuries.
These bankers and denizens of Wall Street and the City of London control our societies and in particular, business, finance and economics – almost every event within society is controlled by these elitists; as we saw in the stock market dotcom bubble of the late 1990s and the real estate bubble that began in 2003 and ended in 2006. We exited the stock market in the second week of April of 2000 and then again at 14,000, calling for a Dow 6,600 bottom. We believe we have been in a secular bear market in stocks since 2000 and we haven’t as yet seen the bottom by any means. Markets are no longer free and are under constant manipulation by elitists behind government.
The media is filled with one fraud after another. The residential real estate market continues to fall trying to find a bottom. Banks throughout the US, UK and Europe are temporarily saved from insolvency by central banks printing money. In country after country we see runaway deficits. Economic progress is frozen. Inflation grows with each passing day as gold and silver move relentlessly higher. At the same time the poor get poorer and the middle-class is being destroyed. We are witnessing the deliberate destruction of an empire.
Never do we hear a comment pertaining to free trade, globalization, offshoring and outsourcing. It is like it didn’t exist. America has lost 11.7 million jobs and 440,000 businesses over the past 11 years, but Congress evidently is ignorant of the fact that keeping jobs at home is easier than creating new ones. The jobs lost are high paying and the replacement jobs are at the bottom rung. All that has to be done is for Congress to pass legislation implementing tariffs on goods and services and to rescind corporate tax breaks for transnational corporations. It is just that simple. Unfortunately, 95% of Congress is bought and paid for by the very interests that perpetuate this stripping of America. We as well hear nothing from economists or market commentators regarding what passes for free trade. We learned as a nation in the late 1700s that British mercantilism does not work. We then found, on our way to greatness as a nation, fair and equitable tariffs work very well. Not what we have seen for the past 30 years; the deliberate destruction of our nation and our jobs.
Every answer to the job’s problem or meeting competition is a subsidy of one form or another. We know such socialist solutions do not work, but government uses them and business welcomes them. Very simply, nothing has been fixed and the palliatives haven’t worked and that is why we are about to enter credit crisis II, with assistance from Greece and the rest of Europe. The US, UK and Europe are headed for default and nothing can be done to stop the inevitable crack up, all America now specializes in is financial fraud and corruption. We have a country run by a crime syndicate and even when caught the companies are merely fined and among the connected, no one ever goes to jail.
Our system has deliberately been programmed to fail. It has taken $4.3 trillion just to keep the system afloat until the characters behind the curtain decide to pull the plug. Greece could be the catalyst along with warfare spreading throughout the Middle East. Is this the diversion? The war that we predicted? It could be and we’ll shortly find out. The Bilderberg planners in Europe have been stunned by Greece’s refusal to commit national financial and economic suicide.
While the drama in Europe plays itself out the Fed creates money and credit to gobble up 80% of US Treasuries. This causes inflation to continue its relentless climb just as it has in other countries. The money and credit creation by central banks exposes the US, UK and Europe eventually to hyperinflation. We are now also entering the war phase as insolvency becomes more visible. This is as we have predicted over the last 11 years. Most major banks in the US, UK and Europe are insolvent, and are made to look solvent by keeping two sets of books and via accounting ledgermain. Their situations are going to become worse as time goes on as real estate heads for the bottom and stays on the bottom for some time to come.
Unbeknownst to most the bank nightmare of commercial real estate is being financed by the Fed. When and if that stops the banks will have a new set of insurmountable problems. The banks are trapped in a dilemma of their own making and there is no way out. That is in spite of government, the BIS and the FASB allowing them to keep two sets of books. If you do that you will go to jail. Almost 30% of Americans have negative home equity and in Las Vegas it is 84%. By the end of 2011 those figures will be lots worse. Those who have home equity loans are close to 40% upside down. In another two years we envision dreadful conditions for both homeowners and banks. Making matters worse these banks have to hold more funds in reserve because the BIS believes speculation has to be reduced, because these funds may be needed to absorb more bad debts.
As we mentioned in previous issues the federal government is using federal pension funds to fund government operations until August 2nd, when presumably Congress will pass a new short-term debt limit. If we remember correctly government will need $250 to $300 billion by that date. We mentioned last week that government might use this opportunity to commandeer 401Ks and IRAs, and replace them with government guaranteed annuities. This threat is very real and if you do not cash in now you may not get the chance to later. Pay the tax and possible penalty and get out. Most workers are trapped in IRA’s and the only way they can get funds out is to borrow against them. Some 30% have already done so to live on having been laid off or to invest in gold and silver related assets.
There is no political will in America to cut spending and any cuts will be in budget increases over the next ten years. In addition, the President has been given marching orders for war by those who control him to cover up what they have done to the country and to make ever more profits for the connected Illuminists. There has been no way back for America since June of 2003. The debt is beyond payable. The problems are all still there and they are not going to go away. Even if by some miracle a solution to the financial crisis was found, the system is still yet to be purged, so that the banking system could be allowed to go bankrupt, along with many others that have engaged in malinvestment. Then there would be the end of market manipulation, the prosecution of the common criminals on Wall Street and in banking. The end of the Fed, lobbying, campaign contributions, Patriot Acts I and II, Homeland Security, the TSA and many other government agencies. We also have to find out if we really have any gold. The list is copious if not endless. With all of this comes devaluation and default and probably a BBB debt rating. This is why all investments should be in gold and silver related assets. In addition, probably at the top of the list is the criminal prosecution of those on Wall Street, in banking and government who have committed fraud and treason. They should be tried, sentenced and their families relieved of all of their wealth. That should also be applied to those who committed treason and they should forfeit their lives.
There is no question that the recent antics of Fed Chairman Bernanke is leading to the conditioning of the public to higher inflation. He knows inflation is more than 10% not the 3.6% the US government admits too. He and his controllers know full well inflation is headed ever higher because deficit spending cannot be stopped and neither can the Fed’s creation of money and credit.
The Fed has been forced to purchase about 80% of US Treasury debt issues because not only are foreigners not interested in such overrated debt, but also no longer are American households and hedge funds. These unusual discussions, which are precedent setting by the Fed is a form of psy-op conditioning for both the professional sector as well as the public that chooses to listen and can understand. The players all know the economy is weak. Mr. Bernanke verifies that. This is all leading to a major international conference where all currencies will be devalued and revalued and all debt will be multilaterally defaulted upon. A new international trading unit, or currency, perhaps the dollar again, will be put into service as the world reserve currency and it will be backed by 25% in gold. That is what these sessions by the Fed is all about, devaluation and the default of the US dollar. It is not surprising as a result of this, that these speeches and press conferences bring a lower dollar and higher gold and silver prices. The writing is on the wall, as we have pointed out for the past two years. As long as QE3, or something similar, is instituted to prolong the fall into collapse, we can project inflation out for the next few years. The level will depend on what is needed to keep the economy afloat. For QE1 and 2 and stimulus 1 and 2, we see 25% to 30% inflation by the end of 2012. If the Fed injects $1.7 to $2.4 trillion into the economy under QE3 then we will get close to 50% inflation, which to us is hyperinflation in 2013 and 2014. The minute stimulus stops deflationary depression begins. That said, we see that conference we spoke of happening in 2012, 2013 and 2014. At this point the timing is very difficult to call. We know one thing for sure there will be a QE3 or something similar to it.
Many nations are pumping money and credit into their financial systems and economies notably the US, UK and Europe. The financial problems in the euro zone are as problematic as they are in the UK and US, as Greece prepares to default. It will do so unless Europe’s bankers give Greece what we would call at this stage, a sweetheart deal and there will be little or no sales of Greek national assets. The European financial sector has to make a deal, because if they don’t Ireland and Portugal will follow Greece and Europe’s banks will go out of business. Like in the US and UK, subscribers get your money out of European banks and into gold and silver. If you do not, you may lose it all. Once the European-Greece situation is clarified the dollar will again tend lower and the prices of gold and silver higher.
The present state of financial affairs is a sad commentary on the international system of credit and currencies. In Greece the fate of the European financial system hangs by a thread and all those too big to fail European banks, that were subsidized secretly 2-1/2 years ago by the Fed, could go under soon. If central banks were capable of being so dumb as to let Lehman Brothers go under, we are sure they are capable of letting Greece go under. Remember, they really believe they are the masters of the universe. No one in the interconnected international financial system wants to see a Greek failure, but so far the way the banks have handled the situation, so brazen and arrogantly, you would think their game of poker with the Greeks included massive European bank failures. Like it or not Greece is catalyst number 2, Lehman being catalyst one. Bankers do not seem to understand that their Ponzi scheme has become common knowledge via talk radio and the Internet. Their controlled media can no longer bamboozle the world public. Those two sets of books bankers now use to hide nearly worthless debt are becoming known to the public and professionals. People are beginning to understand that Greece, Ireland and Portugal are Lehman all over again. Policymakers main job now is to assist Greece, not to rob and loot it, to save their own corrupt system. Greece, Ireland and Portugal didn’t cause the trillions of unsound debt, the bankers did. They are the experts. They made the loans that should have never been made in the first place. Needless to say the bankers are at least 80% at fault. Banks have to be held responsible. Both France and Germany fail to see it that way and are more than willing to let the bankers off the hook, because the bankers own them.
Worldwide liquidity is drying up because players are afraid to play and the Greek crisis has yet to be contained. These international bankers wanted world banking to be interconnected. They got their wish and it is going to bring them terrible trouble that could destroy them. There are global market forces and they have underestimated how much the world public has been educated by talk radio and the Internet.
We never give into a lie no matter who is perpetrating it. There is no recovery and there never has been a recovery. Thus, we won’t waste our breath discussing such a non-event. About $1.8 trillion, or perhaps more, has been squandered and the only thing QE2 and stimulus 2 have accomplished is slight growth and they have guaranteed 25% inflation next year. The market does not want to purchase marginal debt such as that of the PIIGS, but there will soon come a time when the market will no longer bid for anything but the best paper with real truthful ratings. That time will come soon enough. The painful process of facing reality for Greece and the other PIIGS is still in the formation stages. Mrs. Merkel, German Chancellor and Nicolas Sarkozy, PM of France had their mentors recently show them the light. Their decisions will cost them their next elections and there is no reason to believe working with the Illuminists will save them. These elitists were from the same cabal that terrified and made an early exit from the Bilderberg hive in St. Moritz. A group of gutless wonders who slinked away in the night. These people are vulnerable and they can be beaten.
World markets this year and last were very profitable for speculators due to giant loose money policies perpetrated by the Fed, the Bank of England and the European Central Bank. The latter quite illegally. Governments, and central banks never solve debt or economic problems by throwing money at it. CDS, credit default swaps, are not the answer because those on the other side of the trade are losers. CDS writers in the US are going to disappear over night. In fact it will go on for years if not defaulted upon. There is no easy way – or perhaps no way – out of this financial morass. The con game will find an end over the next few years and we would not like to be in the bankers’ shoes.
Last week the Dow rose 0.4%, S&P was little changed, the Nasdaq 100 fell 1.3% and the Russell 2000 rose 0.3%. Banks rallied 1.5% as broker/dealers fell 0.1%. Cyclicals rose 0.1%; transports 1.9%; consumers 0.8%; utilities 1.1%, as high tech fell 2.6%. Semis fell 3.6%; Internets 2.8% and biotechs 1.4%. Gold bullion gained $8.00, the HUI fell 2.3% and the USDX rose 0.3% to 75.99, down 5.1% year-to-date.
Two year T-bills fell 2 bps to 0.37%, the 10-year T-notes fell 3 bps to 2.94% and the 10-year German bunds were unchanged at 2.96%.
The Freddie Mac 30-year fixed rate mortgages rose 11 points to 4.50%.
Federal Reserve credit rose $25.5 billion to a record $2.810 trillion, up 21% year-on-year.
Fed foreign holdings of Treasury and Agency bonds rose $3.5 billion to $3.447 trillion.
Custody holdings for foreign central banks rose $96 billion year-to-date and $367 billion from a year ago.
M2, narrow, money supply rose $7.9 billion to a record $9.0 trillion.
Total money fund assets fell $34 billion to $2.708 trillion.
Total commercial paper outstanding fell $14.7 billion to $1.206 trillion.
Friday, June 17, 2011
Wall Street and the Fed’s stranglehold on America
By Jerry Mazza
Intrepid Report
Posted on June 17, 2011
A few days ago, I came upon a New York Times article, Obama Seeks to Win Back Wall St. Cash. The lead-in read, “A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.” It wasn’t just to say hello.
Nominally, Obama wanted to get their thoughts on how to fast-track the “economic recovery.” Then he “opened the floor for an hour on touchy issues like hedge fund regulations and the national deficit.” The real deal was making nice to the Streeters he had recently called “fat cats” and whose claws were still out, as if they weren’t ready to swallow this mouse in a gulp before they gave him a dime for lunch.
Coincidentally, I had just finished reading A Study of the Federal Reserve and Its Secrets by the iconic Eustace Clarence Mullins. I thought, had Obama, Harvard lawyer and constitutional scholar, not examined this landmark book and how Wall Street bankers turned former Princeton President Woodrow Wilson into their man. They promised to buy him the presidential election to push, then sign the Federal Reserve Act on December 23, 1913 (when most of the congressional elves had escaped to play with Santa at home). In fact, the bill had been planned and written in secrecy in a private railroad car over 10 days on Jekyll’s Island in Georgia.
The train had sped away from Hoboken, New Jersey, leaving a crowd of chagrined newspapermen waiting for their scoop in the station. The passengers of that mysterious car were almost all bankers, as were for Obama in his Blue Room. Present back then were Frank Vanderlip, president of National City Bank of New York; Henry P. Davidson, senior partner of J. P. Morgan Company; and Charles D. Norton, president of Morgan’s First National Bank of New York. These heavy hitters invited Mr. Paul Moritz Warburg of M. M. Warburg of Hamburg, Germany, the chief German representative of the European banking family, the Rothschilds.
Mr. Warburg would end up being the central author of the entire document that we know today as the Federal Reserve Act. As a partner of Kuhn, Loeb and Company Bank of New York, he knew how the congressmen who were against the formation of A central banking system in the U.S. felt, and he knew they blamed the engineered money panic of 1907 on the New York banking bigwigs and Wall Street speculators. So Warburg threw in Federal along with Reserve Act to give a false sense the U.S. government was involved.
This was contrary to the reality that: 1. the Federal Reserve System would be owned by private bankers (shareholders); 2. that, shortly, said bankers would gain control of the issuing of the nation’s money; 3. the bankers would use the credit of the United States and its people to involve both in foreign events, read wars. Unfortunately, all too soon, all three of those goals were realized. When their initial document was realized, they called in Senator Carter Glass to present the Federal Reserve Act in Congress.
And so the demon was born, despite opposition from Congressman Charles Lindbergh, Sr., of Minnesota, who warned that this document was creating a central banking system. Moreover, this type of banking system had the power to create recessions, depressions, inflation, boom and bust a nation’s economy. And if you know anything about American history since then, it’s done them all. To involve us in the Bolshevik revolution, World War I, the 1929 stock market crash, the two depressions of 1931 and 1937, World War II, and left the US post 9/11 in the War on Terror, in a series of booms and busts, recessions and depressions.
What’s more, the Federal Reserve Act was unconstitutional. The Constitution strictly provides that the U.S. government should both print and coin its own money. It shouldn’t pass that off to this second party, the Federal Reserve, which will print out money in the form of notes payable to them, acting as the lender of our money’s credit to us with interest. Many congressmen saw the outcome, but somehow it was influenced with enough cash spread about to influence the Federal Reserve Act’s passage. The national banks kicked in over $5 million for a propaganda fund to sell and pass the bill. In that time, the Republicans were against the bill, and the Democrats were for it.
As with our time, many congressmen, especially faced with a holiday, did not have the time to read the entire bill by signing day, December 23, 1907. The bill was built around the old fractional lending Ponzi scheme, inherited from the 16th century goldsmiths. For every $10 you had, only $1 dollar (or 10 percent) was needed to be put aside for reserve. They realized that of the gold put into their safes for safekeeping only about 10 to 20 percent was out at any given time. So they could really lend the rest with impunity and collect the interest on all of it. And in effect, this would allow them and subsequently the Fed to generate money out of air, millions, billions, trillions eventually.
The same principle was used without gold and not by goldsmith banks, but with central banks using reserve numbers that could create money out of air from debt. Debt became money by the stroke of a pen, today the keystroke of a computer, to finance wars, revolutions, inflation, deflation, recessions or depressions. Added to gold, the situation had a double whammy for manipulation. The possibilities were endless for contracting or expanding wealth for the effects above. And so it has gone these past 104 years.
In one case among legion, the third paragraph of page 138, written by Emmanuel Goldweiser, director of research for the Federal Reserve Board in 1936, we find: “In the summer of 1936, banks had excess reserves. The Board repeated this action in the spring of 1937, thus ushering in the serious reaction of 1937–38.” Mullins writes, “Immobilizing reserves was the equivalent to extinguishing them, insofar as the available supply of money and credit was concerned, and, as Governor Eccles had testified, extinguishing reserves meant wiping out a basis for issuing money and credit, tightening up the money market, and ushering a business depression.” In fact, the Atlantic Monthly noted, “there was a contraction of credit of two billion dollars.” And so, the board played money and debt god with America’s economic life. Mullins provides a book full of examples, like and far worse than this.
Today, there are 12 central banks, New York being the fountainhead because it’s in the center of the financial fountain raining down or capping money. The board members are in the employ of the Federal Reserve and not the U.S. government. So their fidelity is to those who pay them. These are private credit monopolies for the benefit of themselves and their foreign customers and domestic speculators, not to mention swindlers. These 12 private credit monopolies were foisted on this country in deceit and disloyalty by bankers who came from Europe. They have created a history of financed crime for Americans and people around the world.
So I ask, what is Obama expecting to get on the cuff from the sons and grandsons of these bankers and their companies? They blunted all his efforts to get any real regulation on the books, concerning their fraudulent debt products (CDOs, CDSs, CISs, etc.), or for derivatives and speculation, having suspended the number of items that can be speculated on, and the amount of money that can be speculated with to corner markets on essential products: primarily food items and oil.
They own the bonds and stocks. They pass the laws through their minions that the president signs through his gratitude for their support, just as Wilson did more than a century ago and Obama is seeking to now. Bottom line, the Federal Reserve investors’ increase in their assets went from $143 million dollars in 1913 to 45 billion dollars in 1949 (at the time of Mullins’ writing), yielding a profit of $44,857,000,000. Another 62 years of financial profit adjusted for inflation yields considerably more. Do the math. It boggles my mind as it did Mullins.’
Thus Mullins quotes Bernard Baruch on Page, 156, that “Whatever its leadership, the Federal Reserve Board is committed to tightening its financial dictatorship over the United States. Bernard Baruch testified before Congress that: ‘We have not had a free or competitive economy since the First World War.’ Governor Marriner Eccles testified that we should not see our money market free from the money power’s control in our lifetime.
“The latest statement was made by Governor Mencius Syzmczak of the Federal Reserve Board, who was appointed by Boss Kelly of Chicago to that office. [He] stated in Time Magazine in 1950 that: ‘The more we can accomplish by means of monetary, credit and fiscal policies, the less need there will be for the authoritarian harness of rationing and other direct controls . . . ’”
Mullins responds on Page 157: “The dictatorship cannot be exercised without the control of money and credit. If Congress actually had retained its sovereignty and refused to let Woodrow Wilson and Carter Glass [as in Glass Steagall] hand over the sovereign right of coinage and the issue of our money to private bankers in 1913, the American people today would not stand on the brink of slavery. The Federal Reserve System has been the death of our Constitution, and the end of our liberties. The Federal Reserve Board of Governors, chosen by and working for the powerful international bankers have inflicted catastrophe after catastrophe upon our people. They involved us into two World wars; they have planned and executed two of the worst economic depression we have ever suffered. The American people have been kept in ignorance of the forces working against them. The love of liberty, the innate self-reliance, and the uncompromising individualism of the native American must assert itself against the tyranny of the Federal Reserve Board if we are to renew the American Republic.” Those words are as true today as when he wrote them in 1949.
But Mr. Obama, are you listening? You are sleeping with the devil, to paraphrase the title of Robert Baer’s excellent book on the U.S. and Saudi oil interests. It applies more than equally with the Federal Reserve Board and its Wall Street banksters. You and every American interested in the future of this country should read Mullins’ tract. Know that the concessions of transparency, ethics, and any sense of the common good are not to be gotten amongst the banksters of this world.
As Mullins wrote, “The Federal Reserve System is not Federal; it has no reserves; and it is not a system but rather, a criminal syndicate. It is the product of syndicalist activity of an international consortium of dynastic families comprising what the author terms “The World Order” The Federal Reserve System is a central bank operating in the United States. Although the student will find no such definitions of a central bank in the textbooks of any university, the author has defined a central bank as follows: it is the dominant financial power of the country which harbors it. It is entirely private-owned, although it seeks to give the appearance of a governmental institution. It has the right to print and issue money, the traditional prerogative of monarchs. It is set up to provide financing for wars. It functions as a money monopoly having total power over all the money and credit of the people.”
Coda
Eustace Clarence Mullins, populist American political writer, artist, biographer, was a friend of the great American poet, Ezra Pound, who originally asked Mullins to write this amazing book, suggesting a course of research and paying him ten dollars a week. The central theme of Mullin’s book is how the Federal Reserve allows bankers to monetize debt, that is to create money out of air by simple book entry, and thus to create enormous leverage over everyone else.
Eustace Clarence Mullins, Jr., was born on March 9, 1923 and died in February 2, 2010, at age 87. He lived to see 9/11, the War on Terror, the crashes of 2008–2009, and the wars that followed, which created the largest national debt in history, reviving his worst dream for America, their financing by the Fed and the banksters. He was educated at Washington and Lee University, New York University, the University of North Dakota and the Institute of Contemporary Arts in Washington, D.C.
Mullins was a researcher at the Library of Congress in 1950. Shortly after his first book came out in 1952, he was discharged by the Library of Congress. As a nascent author of many books, he befriended the great American poet Ezra Pound, who encouraged him to write Mullins on the Federal Reserve, considering it a great discovery of the age. In 1983, Mullins updated his book with its present title, The Secrets of the Federal Reserve.
Ezra Pound, who was arrested for his anti-war, anti-usury activities, wrote his Pisan Cantos in a steel cage in the American Disciplinary Training Center, shades of Guantanamo, in 1945, sleeping on a concrete floor, looking as he said to his muse, la bella Luna. He was brought in by Italian partisans to the allies who locked him up, charging him with speechifying for the fascists, as he knocked usury, credit, and bankers, which was labeled “treason” and “anti-Semitic;” not “free speech” as Pound wrote back, pleading his case to US courts. Nevertheless, he still won a coveted Bolingen Prize for poetry in 1948.
A nervous breakdown brought him a pup tent, light, typewriter, cot, some books, a return to his work on Confucius’ Analects. It revived his memories of old times, Paris, Joyce, Hem, Stein, and Eliot. In 1958, he was declared insane, incapable of standing trial and sent to live with his daughter Mary in Tyrol, soon returning to Rapallo, Venice, crazy [as a fox] but free to publish Cantos 110 thru 116 of his epic work. Turning into Odysseus Pound, the 20th Century’s stellar poet, hero of the universe, he wrote . . .
“I have brought the great ball of crystal;
Who can lift it?
Can you enter the great acorn of light?
But the beauty is not the madness
Tho’ my errors and wrecks lie about me.
And I am not a demigod,
I cannot make it cohere.”
In fact, can any of us make the crimes of the banksters and the Fed “cohere” with America’s ideals for life, liberty and the pursuit of happiness?
Intrepid Report
Posted on June 17, 2011
A few days ago, I came upon a New York Times article, Obama Seeks to Win Back Wall St. Cash. The lead-in read, “A few weeks before announcing his re-election campaign, President Obama convened two dozen Wall Street executives, many of them longtime donors, in the White House’s Blue Room.” It wasn’t just to say hello.
Nominally, Obama wanted to get their thoughts on how to fast-track the “economic recovery.” Then he “opened the floor for an hour on touchy issues like hedge fund regulations and the national deficit.” The real deal was making nice to the Streeters he had recently called “fat cats” and whose claws were still out, as if they weren’t ready to swallow this mouse in a gulp before they gave him a dime for lunch.
Coincidentally, I had just finished reading A Study of the Federal Reserve and Its Secrets by the iconic Eustace Clarence Mullins. I thought, had Obama, Harvard lawyer and constitutional scholar, not examined this landmark book and how Wall Street bankers turned former Princeton President Woodrow Wilson into their man. They promised to buy him the presidential election to push, then sign the Federal Reserve Act on December 23, 1913 (when most of the congressional elves had escaped to play with Santa at home). In fact, the bill had been planned and written in secrecy in a private railroad car over 10 days on Jekyll’s Island in Georgia.
The train had sped away from Hoboken, New Jersey, leaving a crowd of chagrined newspapermen waiting for their scoop in the station. The passengers of that mysterious car were almost all bankers, as were for Obama in his Blue Room. Present back then were Frank Vanderlip, president of National City Bank of New York; Henry P. Davidson, senior partner of J. P. Morgan Company; and Charles D. Norton, president of Morgan’s First National Bank of New York. These heavy hitters invited Mr. Paul Moritz Warburg of M. M. Warburg of Hamburg, Germany, the chief German representative of the European banking family, the Rothschilds.
Mr. Warburg would end up being the central author of the entire document that we know today as the Federal Reserve Act. As a partner of Kuhn, Loeb and Company Bank of New York, he knew how the congressmen who were against the formation of A central banking system in the U.S. felt, and he knew they blamed the engineered money panic of 1907 on the New York banking bigwigs and Wall Street speculators. So Warburg threw in Federal along with Reserve Act to give a false sense the U.S. government was involved.
This was contrary to the reality that: 1. the Federal Reserve System would be owned by private bankers (shareholders); 2. that, shortly, said bankers would gain control of the issuing of the nation’s money; 3. the bankers would use the credit of the United States and its people to involve both in foreign events, read wars. Unfortunately, all too soon, all three of those goals were realized. When their initial document was realized, they called in Senator Carter Glass to present the Federal Reserve Act in Congress.
And so the demon was born, despite opposition from Congressman Charles Lindbergh, Sr., of Minnesota, who warned that this document was creating a central banking system. Moreover, this type of banking system had the power to create recessions, depressions, inflation, boom and bust a nation’s economy. And if you know anything about American history since then, it’s done them all. To involve us in the Bolshevik revolution, World War I, the 1929 stock market crash, the two depressions of 1931 and 1937, World War II, and left the US post 9/11 in the War on Terror, in a series of booms and busts, recessions and depressions.
What’s more, the Federal Reserve Act was unconstitutional. The Constitution strictly provides that the U.S. government should both print and coin its own money. It shouldn’t pass that off to this second party, the Federal Reserve, which will print out money in the form of notes payable to them, acting as the lender of our money’s credit to us with interest. Many congressmen saw the outcome, but somehow it was influenced with enough cash spread about to influence the Federal Reserve Act’s passage. The national banks kicked in over $5 million for a propaganda fund to sell and pass the bill. In that time, the Republicans were against the bill, and the Democrats were for it.
As with our time, many congressmen, especially faced with a holiday, did not have the time to read the entire bill by signing day, December 23, 1907. The bill was built around the old fractional lending Ponzi scheme, inherited from the 16th century goldsmiths. For every $10 you had, only $1 dollar (or 10 percent) was needed to be put aside for reserve. They realized that of the gold put into their safes for safekeeping only about 10 to 20 percent was out at any given time. So they could really lend the rest with impunity and collect the interest on all of it. And in effect, this would allow them and subsequently the Fed to generate money out of air, millions, billions, trillions eventually.
The same principle was used without gold and not by goldsmith banks, but with central banks using reserve numbers that could create money out of air from debt. Debt became money by the stroke of a pen, today the keystroke of a computer, to finance wars, revolutions, inflation, deflation, recessions or depressions. Added to gold, the situation had a double whammy for manipulation. The possibilities were endless for contracting or expanding wealth for the effects above. And so it has gone these past 104 years.
In one case among legion, the third paragraph of page 138, written by Emmanuel Goldweiser, director of research for the Federal Reserve Board in 1936, we find: “In the summer of 1936, banks had excess reserves. The Board repeated this action in the spring of 1937, thus ushering in the serious reaction of 1937–38.” Mullins writes, “Immobilizing reserves was the equivalent to extinguishing them, insofar as the available supply of money and credit was concerned, and, as Governor Eccles had testified, extinguishing reserves meant wiping out a basis for issuing money and credit, tightening up the money market, and ushering a business depression.” In fact, the Atlantic Monthly noted, “there was a contraction of credit of two billion dollars.” And so, the board played money and debt god with America’s economic life. Mullins provides a book full of examples, like and far worse than this.
Today, there are 12 central banks, New York being the fountainhead because it’s in the center of the financial fountain raining down or capping money. The board members are in the employ of the Federal Reserve and not the U.S. government. So their fidelity is to those who pay them. These are private credit monopolies for the benefit of themselves and their foreign customers and domestic speculators, not to mention swindlers. These 12 private credit monopolies were foisted on this country in deceit and disloyalty by bankers who came from Europe. They have created a history of financed crime for Americans and people around the world.
So I ask, what is Obama expecting to get on the cuff from the sons and grandsons of these bankers and their companies? They blunted all his efforts to get any real regulation on the books, concerning their fraudulent debt products (CDOs, CDSs, CISs, etc.), or for derivatives and speculation, having suspended the number of items that can be speculated on, and the amount of money that can be speculated with to corner markets on essential products: primarily food items and oil.
They own the bonds and stocks. They pass the laws through their minions that the president signs through his gratitude for their support, just as Wilson did more than a century ago and Obama is seeking to now. Bottom line, the Federal Reserve investors’ increase in their assets went from $143 million dollars in 1913 to 45 billion dollars in 1949 (at the time of Mullins’ writing), yielding a profit of $44,857,000,000. Another 62 years of financial profit adjusted for inflation yields considerably more. Do the math. It boggles my mind as it did Mullins.’
Thus Mullins quotes Bernard Baruch on Page, 156, that “Whatever its leadership, the Federal Reserve Board is committed to tightening its financial dictatorship over the United States. Bernard Baruch testified before Congress that: ‘We have not had a free or competitive economy since the First World War.’ Governor Marriner Eccles testified that we should not see our money market free from the money power’s control in our lifetime.
“The latest statement was made by Governor Mencius Syzmczak of the Federal Reserve Board, who was appointed by Boss Kelly of Chicago to that office. [He] stated in Time Magazine in 1950 that: ‘The more we can accomplish by means of monetary, credit and fiscal policies, the less need there will be for the authoritarian harness of rationing and other direct controls . . . ’”
Mullins responds on Page 157: “The dictatorship cannot be exercised without the control of money and credit. If Congress actually had retained its sovereignty and refused to let Woodrow Wilson and Carter Glass [as in Glass Steagall] hand over the sovereign right of coinage and the issue of our money to private bankers in 1913, the American people today would not stand on the brink of slavery. The Federal Reserve System has been the death of our Constitution, and the end of our liberties. The Federal Reserve Board of Governors, chosen by and working for the powerful international bankers have inflicted catastrophe after catastrophe upon our people. They involved us into two World wars; they have planned and executed two of the worst economic depression we have ever suffered. The American people have been kept in ignorance of the forces working against them. The love of liberty, the innate self-reliance, and the uncompromising individualism of the native American must assert itself against the tyranny of the Federal Reserve Board if we are to renew the American Republic.” Those words are as true today as when he wrote them in 1949.
But Mr. Obama, are you listening? You are sleeping with the devil, to paraphrase the title of Robert Baer’s excellent book on the U.S. and Saudi oil interests. It applies more than equally with the Federal Reserve Board and its Wall Street banksters. You and every American interested in the future of this country should read Mullins’ tract. Know that the concessions of transparency, ethics, and any sense of the common good are not to be gotten amongst the banksters of this world.
As Mullins wrote, “The Federal Reserve System is not Federal; it has no reserves; and it is not a system but rather, a criminal syndicate. It is the product of syndicalist activity of an international consortium of dynastic families comprising what the author terms “The World Order” The Federal Reserve System is a central bank operating in the United States. Although the student will find no such definitions of a central bank in the textbooks of any university, the author has defined a central bank as follows: it is the dominant financial power of the country which harbors it. It is entirely private-owned, although it seeks to give the appearance of a governmental institution. It has the right to print and issue money, the traditional prerogative of monarchs. It is set up to provide financing for wars. It functions as a money monopoly having total power over all the money and credit of the people.”
Coda
Eustace Clarence Mullins, populist American political writer, artist, biographer, was a friend of the great American poet, Ezra Pound, who originally asked Mullins to write this amazing book, suggesting a course of research and paying him ten dollars a week. The central theme of Mullin’s book is how the Federal Reserve allows bankers to monetize debt, that is to create money out of air by simple book entry, and thus to create enormous leverage over everyone else.
Eustace Clarence Mullins, Jr., was born on March 9, 1923 and died in February 2, 2010, at age 87. He lived to see 9/11, the War on Terror, the crashes of 2008–2009, and the wars that followed, which created the largest national debt in history, reviving his worst dream for America, their financing by the Fed and the banksters. He was educated at Washington and Lee University, New York University, the University of North Dakota and the Institute of Contemporary Arts in Washington, D.C.
Mullins was a researcher at the Library of Congress in 1950. Shortly after his first book came out in 1952, he was discharged by the Library of Congress. As a nascent author of many books, he befriended the great American poet Ezra Pound, who encouraged him to write Mullins on the Federal Reserve, considering it a great discovery of the age. In 1983, Mullins updated his book with its present title, The Secrets of the Federal Reserve.
Ezra Pound, who was arrested for his anti-war, anti-usury activities, wrote his Pisan Cantos in a steel cage in the American Disciplinary Training Center, shades of Guantanamo, in 1945, sleeping on a concrete floor, looking as he said to his muse, la bella Luna. He was brought in by Italian partisans to the allies who locked him up, charging him with speechifying for the fascists, as he knocked usury, credit, and bankers, which was labeled “treason” and “anti-Semitic;” not “free speech” as Pound wrote back, pleading his case to US courts. Nevertheless, he still won a coveted Bolingen Prize for poetry in 1948.
A nervous breakdown brought him a pup tent, light, typewriter, cot, some books, a return to his work on Confucius’ Analects. It revived his memories of old times, Paris, Joyce, Hem, Stein, and Eliot. In 1958, he was declared insane, incapable of standing trial and sent to live with his daughter Mary in Tyrol, soon returning to Rapallo, Venice, crazy [as a fox] but free to publish Cantos 110 thru 116 of his epic work. Turning into Odysseus Pound, the 20th Century’s stellar poet, hero of the universe, he wrote . . .
“I have brought the great ball of crystal;
Who can lift it?
Can you enter the great acorn of light?
But the beauty is not the madness
Tho’ my errors and wrecks lie about me.
And I am not a demigod,
I cannot make it cohere.”
In fact, can any of us make the crimes of the banksters and the Fed “cohere” with America’s ideals for life, liberty and the pursuit of happiness?
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