Money, Banking, The Fed, IMF

Money, Banking, The Federal Reserve, The IMF...

The Dollar's Decline Does Matter

LONDON, Dec. 6, 2004
http://www.cbsnews.com/stories/2004/12/06/opinion/fenton/main659179.shtml

(CBS) Tom Fenton, in his fourth decade with CBS News, has been the network's
Senior European Correspondent since 1979. He comments on international
events from his "Listening Post" in London, and other parts of the world as
well. Most Americans pay no attention to the exchange rate of the dollar,

What The Collapse of The US Dollar Will Mean to The World

 

by Bruce Porteous bruceport [at] xtra [dot] co [dot] nz Fri Nov 26, 2004

A currency dealer displays US dollar notes at a currency exchange office. The dollar plummeted to new lows against the euro on expectations Russia could par down its dollar reserves in favor of euros and amid ongoing concerns over the US budget and current account deficits, analysts said. [AFP] http://www.chinadaily.com.cn/english/doc/2004-11/26/content_395102.htm

Over the last few days there has been a number of articles in the media about the steady decline of the $US against the Euro. While many economists have forecasted the possibility of the dollar declining against the Euro for sometime, most do not comprehend the significance of this. Some believe that the decline of the dollar against the currencies of American¹s trading partners will help correct the USA¹s trade deficit, and the dollar will stop falling when the trade imbalance is corrected. However, the evidence is that the opposite is happening ­ the $US has declined 40% against the Euro over the last 2 years, and during this time America¹s trade deficit has continues to deteriorate.

America's Twin Towers


by Edgar J. Steele

October 22, 2004

"I apprehend no danger to our country from a foreign foe...Our destruction, should it come at all, will be from another quarter. From the inattention of the people to the concerns of their government, from their carelessness and negligence, I must confess that I do apprehend some danger. I fear that they may place too implicit a confidence in their public servants, and fail properly to scrutinize their conduct; that in this way they may be made the dupes of designing men, and become the instruments of their own undoing."
-- Daniel Webster, Works 1:403 (June 1, 1837)

"Government is like a baby: An alimentary canal with a big appetite at one end and no sense of responsibility at the other."
-- Ronald Reagan

Last week http://www.conspiracypenpal.com/columns/left.htm I mentioned the Twin Towers, not the ones taken out in New York City, but the Twin Towering Deficits:   fiscal and foreign spending . I stated that the destruction, even death, resulting when those Twin Towers fall will far exceed what happened on 9/11.  The current Iraq war, which both Bush and Kerry have pledged to continue right on through calendar year 2005, has played no small part in both those deficits.
http://i.am/jah/greeneco.htm

America's federal budget deficit (the amount of money our federal government spends in excess of its total receipts...think in terms of your ever-increasing credit card balances as an analogy) runs well over a half trillion dollars annually, with no reduction in sight.  Indeed, the rate of increase is, itself, increasing.  

An uptick in interest rates will devastate the federal budget, as tax receipts increasingly must be earmarked to interest payments for the national debt.  Defaulting on the debt is not an option, as that would destroy the dollar overnight. The now-inevitable cutback in federal spending and entitlement programs will lead to rioting in the streets (think LA's South-Central riot writ large... real large) and a worldwide economic depression that will cause us to start numbering our depressions, just like WWII did for the "Great War" (WWI).

America's balance of trade deficit (the amount by which American imports exceed her exports) also runs over a half trillion dollars annually, with no relief in sight unless and until a massive devaluation of the dollar occurs so as to make what little America still produces relatively attractive to the world market. Of course, that devaluation will precipitate a stock market crash of epic proportions and usher in Depression II.

Economic Collapse Being "Set Up"



IGNORE DANGER SIGNS OF THE COMING FINANCIAL CATASTROPHE AT YOUR OWN RISK

 

I have been telling Americans for the past 14 years what is coming, but few will listen because Americans are too afraid of the truth. They don't want to know what's just over the horizon. They want their material comforts and fun times. A recent article was published that must be read by everyone (here http://www.eldoradogold.net/pdf/September2004/debt_lochead.pdf ). Carolyn Lochhead has laid it out in frightening detail - all the numbers of what is going to happen in four short years when the baby boomers retire - 77 million of them. The numbers in Ms. Lochhead's article are accurate. There is no money in the U.S. Treasury to fund those numbers . The borrowing by Congress to fund their immoral and unconstitutional wars, UN dues, 18% of the IMFs budget, billions in corporate welfare, trillions in foreign "aid," all these social welfare programs and basic government functions continues to rack up debt at a rate of $1.69 BILLION dollars a day from an empty treasury. Quite a trick.

http://i.am/jah/greeneco.htm


The Federal Reserve - links

Chart of who owns the Federal Reserve
Source : Federal Reserve Directors : A Study of Corporate and Banking Influence. Staff Report, Committee on Banking, Currency and Housing, House of Representatives, 94th Congress, 2nd Session, August 1976.

Congressman McFadden's Speech On the Federal Reserve Corporation
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.

Quotations from several speeches made on the Floor of the House of Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having served as Chairman of the Banking and Currency Committee for more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly.

The Constitutional argument against this Fed's creation:

Section. 8.
Clause 1 : The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States;
Clause 5 : To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; " I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs ." --Thomas Jefferson, U.S. President.

More : Banking & Federal Reserve Quotes and Money Quotations

Book : Secrets of the Federal Reserve
HTML Version
Zip File
Word Document

A Phone Call To The Fed
The following is a conversation with Mr. Ron Supinski of the Public Information Department of the San Francisco Federal Reserve Bank.

Statements by Congressman Ron Paul

Paper Money and Tyranny
Gold, Dollars, and Federal Reserve Mischief
Abolish the Fed
The Tyranny of Paper Money
Economic Update
The US Dollar and World Economy
The State of the Republic
The Economy
Greenspan Nominated to a Fourth Term
Paul Challenges Greenspan on Monetary Policy
Manipulating Interest Rates
Hard Questions for Federal Reserve Chairman Greenspan
more...
Detailed Analysis Currency Devaluation and Economic Growth
The Mandrake Mechanism Of The Federal Reserve
The Federal Reserve
The History of Lawful Gold and Silver Legal Tender and the Debt Brought On by Unlawful Fiat Paper Money
Federal Reserve System 101
I Want The Earth Plus 5%
The High Cabal's Economic War Against the World
Questions and Answers About The Federal Reserve System
The Theory of Money and Credit
The History of Lawful Gold and Silver Legal Tender and the Debt Brought on by Unlawful Fiat Paper Money
Money Vs. Wealth
Memorandum of Law: The Money Issue
Jefferson's Prophesy: The Bankruptcy of America
Mises on Money
Why a Federal Reserve Note isn't worth a Dollar.
A Fatal Parasite on the American Body Politic Articles : • The Finance Lesson Everyone Missed!
The Fed, the Constitution, derivatives and Enron
The Truth about Money
Central Banks, Currencies and Interest Rates
Ayn Rand on money
What Is A Dollar?
The Law, Money, and Your Choice (PDF)
Nevada Constitutional Amendment to Issues Money as Silver Coins (PDF)
It's Not the Money, Its The Principal (PDF)
Central Banks, Gold, and the Decline of the Dollar (PDF)
The Forgotten Role of the Constitution in Monetary Law
Creating Money is a Taxing Operation
Borrowing Currency Into Circulation
Background on the Dollar Bill
Return To Constitutional Money
United States of America Money Act
Alan Greenspoan on Why the Gold Standard Had to be Abandoned
The Battle America Lost in 1913: the Federal Reserve Act
The Government and The Bankers did it!
Federal Reserve Notes Declared Unconstitutional Misc. Resources : • A Workbook on Bank Reserves and Deposit Expansion
Board of Governors of the Federal Reserve System
Federal Reserve Act, Dec. 23, 1913 (PDF)
169 Questions and Answers on Money September 21, 1964 from the House of Representatives Additional resources : Money, Banking, and Credit

Ten Recurring Economic Fallacies, 1774-2004

by H.A. Scott Trask

As an American historian who knows something of economic law, having learned from the Austrians, I became intrigued with how the United States had remained prosperous, its economy still so dynamic and productive, given the serious and recurring economic fallacies to which our top leaders (political, corporate, academic) have subscribed and from which they cannot seem to free themselves-and alas, keep passing down to the younger generation.
 

Let's consider ten.
 

Myth #1: The Broken Window



One of the most persistent is that of the broken window - one breaks and this is celebrated as a boon to the economy: the window manufacturer gets an order; the hardware store sells a window; a carpenter is hired to install it; money circulates; jobs are created; the GDP goes up. In truth, of course, the economy is no better off at all.
 
So they encourage lawlessness and stone-throwing by the youth - JAH.

True, there is a sudden burst of activity, and some persons have surely gained, but only at the expense of the proprietor whose window was broken, or his insurance company; and if the latter, the other policyholders who will pay higher premiums to pay for paid-out claims, especially if many have been broken.
 

The fallacy lies in a failure to grasp what has been foregone by repair and reconstruction - the labor and capital expended, having been lost to new production. This fallacy, seemingly so simple to explain and grasp, although requiring an intellectual effort of some mental abstraction to comprehend, seems to be ineradicable.
 

After the horrific destruction of the Twin Towers in September 2001, the media quoted academic and corporate economists assuring us that the government's response to the attacks would help bring an end to the recession. What was never mentioned was that resources devoted to repair, security, and war-fighting are resources that cannot be devoted to creating consumer goods, building new infrastructure, or enhancing our civilization. We are worse off because of 9-11.
 
But the arms-manufacturers (Carlyle Group, etc. who own the politicians) are better-off at the expense of everyone else – JAH.
http://i.am/jah/horse.htm#HidHan

The Wild and Free Pigs of the Okefenokee Swamp

By Frank Redmond


Some years ago, about 1900, an old trapper from North Dakota hitched up some horses to his Studebaker wagon, packed a few possessions --especially his traps --, and drove south. Several weeks later he stopped in a small town just north of the Okefenokee Swamp in Georgia.

It was a Saturday morning -- a lazy day -- when he walked into the general store. Sittings around the pot-bellied stove were seven or eight of the town's local citizens. The traveler spoke. "Gentlemen, could you direct me to the Okefenokee Swamp?" Some of the old-timers looked at him like he was crazy. "You must be a stranger in these parts," they said.

When The Chips are Down

The selling point for implanting biochips beneath your skin is that they cannot be stolen. They can be used to access ATM's, pay bills, sign contracts, verify your identity--all without your wallet--and locate lost or kidnaped children. Should you, yourself, become lost or disabled, a global array of satellites will locate you, or any person who has been implanted with a SIB (Subdermally Implanted Biochip) anywhere on the planet.

Your Debt Continues to Rise

Whilst you were sleeping.

http://i.am/jah/dune.htm

The ONLY solution is to enforce The Plan:- http://i.am/jah/plan.htm

 

 

By: ctzcrank [at] mindspring [dot] com">Ed Henry
June 8, 2004

The Bush administration borrowed another $62.6 billion in May. That's slightly more than two thousand million a day added to our national tab, weekends included. Another way to look at it is that it's more than twenty-three thousand a second, twenty-four hours a day added to your obligation. While you were reading this first paragraph, the government ran up your debt more than a hundred thousand dollars. And this is on top of the taxes you pay them.

Former Maryland State Senator Sounds Alarm on US Dollar

Former Maryland State Senator Tim Ferguson is warning "the Federal Reserve is planning to destroy the U.S. economy by printing the U.S. dollar in exponentially riskier quantities until it blows off the charts and crashes, and by easing credit and rates until the average individual and corporate debt loads are so enormous that the resulting massive distortions in the economy suddenly bring on an economic heart attack, leaving no possibility of a short or even medium-term recovery."

Senator Ferguson went on to say in his recent piece published in Usury, Inc:

"That great criminal enterprise - the Federal Reserve - has accomplished step #1, trashing and ending the dollar system, culminating a multi-year, massive, insane inflation of money supply and credit....corporations such as Freddie Mac, Fannie Mae, Farmer Mac, FHA, GM, Ford, and GE (which are actually banks), worked hand-in-hand with the Bank Cartel on this sickening, twisted game, switching from pumping credit cards and cars (which have gone to zero percent financing 12 months ago) to a last-ditch horrendous push into mortgage lending.

"This insane lending will destroy the lending institutions themselves, as Ford and GM are well aware, but the elite do not care, as after this collapse, there will only be one corporation in the world, and they are all pulling together to put everyone as deep into debt as possible, to assure than no American state or corporation or region will survive when the debt mountain suffocates all life.

"This is why so many CEOs are bailing out with insane profits from questionable practices which would normally ruin their career for life, as they have raped their corporation (the latest is Grasso of the New York Stock Exchange); but they know the game is over, and it is now or never - this is their last chance to make millions and move to an island, for insiders are able to see that the economy is literally going to hell, and it will not climb out of hell in their lifetimes.

"The two great props of the deathly-sick US economy - housing and cars - are gone forever, and can no longer be used to cover up the rapidly worsening fundamentals. Indeed, many are recognizing that these two alone - especially artificially low mortgage rates - have postponed a deep crash which should have occurred 2 or 3 years ago. Sadly, this extension has not been helpful, but has served a very useful purpose for the money elite, namely, greatly deepening private and corporate debt loads, exploding red ink in state and local budgets to dangerous levels, emptying pensions, creating a fatally large and exploding US budget and trade deficit, moving millions of jobs thousands of miles away, and expanding the dollar and derivatives mountain to ensure a global panic. This has been carefully coordinated worldwide from the headquarters of all world central banks, in Basel, Switzerland." ....

(follow link to read the complete article)
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