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Gary Edwards

Major Banksters, Governmental Officials and Their Comrade Capitalists Targets of Spire ... - 0 views

www.marketwatch.com/...ted-states-treasury-2012-10-25

Banksters Federal-Reserve-Bankster-Cartel

shared by Gary Edwards on 02 Nov 12 - No Cached
  • Gary Edwards on 02 Nov 12
     
    "NEW YORK, Oct. 25, 2012 /PRNewswire via COMTEX/ -- Spire Law Group, LLP's national home owners' lawsuit, pending in the venue where the "Banksters" control their $43 trillion racketeering scheme (New York) - known as the largest money laundering and racketeering lawsuit in United States History and identifying $43 trillion ($43,000,000,000,000.00) of laundered money by the "Banksters" and their U.S. racketeering partners and joint venturers - now pinpoints the identities of the key racketeering partners of the "Banksters" located in the highest offices of government and acting for their own self-interests. In connection with the federal lawsuit now impending in the United States District Court in Brooklyn, New York (Case No. 12-cv-04269-JBW-RML) - involving, among other things, a request that the District Court enjoin all mortgage foreclosures by the Banksters nationwide, unless and until the entire $43 trillion is repaid to a court-appointed receiver - Plaintiffs now establish the location of the $43 trillion ($43,000,000,000,000.00) of laundered money in a racketeering enterprise participated in by the following individuals (without limitation): Attorney General Holder acting in his individual capacity, Assistant Attorney General Tony West, the brother in law of Defendant California Attorney General Kamala Harris (both acting in their individual capacities), Jon Corzine (former New Jersey Governor), Robert Rubin (former Treasury Secretary and Bankster), Timothy Geitner, Treasury Secretary (acting in his individual capacity), Vikram Pandit (recently resigned and disgraced Chairman of the Board of Citigroup), Valerie Jarrett (a Senior White House Advisor), Anita Dunn (a former "communications director" for the Obama Administration), Robert Bauer (husband of Anita Dunn and Chief Legal Counsel for the Obama Re-election Campaign), as well as the "Banksters" themselves, and their affiliates and conduits. The lawsuit alleges serial violations of the United States Patri
  • Gary Edwards on 02 Nov 12
     
    This is the first time anyone has tried to go after the Bankster class of midievil (mediæval) elites to recover theft of funds. Charges include racketeering, fraud and international money laundering. The mass tort action is now in the Brooklyn Federal Courts. Dead bodies are starting to show up as the Banksters move to shut down press coverage. Amazing stuff.
Gary Edwards

Freedom to Fascism - the movie - 0 views

freedomtofascism.com

Freedom-to-Fascism Aaron-Russo

shared by Gary Edwards on 03 Jul 13 - Cached
  • Gary Edwards on 03 Jul 13
     
    "Are you aware the money in your pocket is printed by a private bank? Are you aware the REAL ID law will require you to carry a national identification card? Are you aware that there are plans being developed to have all Americans embedded with a Radio Frequency Identification (RFID) computer chip under their skin so they can be tracked wherever they go? Are you aware the Supreme Court has ruled that the government has no authority to impose a direct unapportioned tax on the labor of the American people, and the 16th Amendment does not give the government that power? Are you aware that computer voting machines can be rigged and there is no way to ensure that vote is counted Our Friend and Hero, Aaron Russo Has Passed Esteemed filmmaker, ardent activist and loyal patriot Aaron Russo lost his battle to cancer on August 24, 2007 at the age of 64. Aaron will be profoundly missed but always remembered. He was a husband, father, friend, mentor, and inspiration to many. Aaron's long list of achievements includes his work in the areas of filmmaking and political activism. His documentary film, "America: From Freedom to Fascism", debunked the justification of both the IRS and the Federal Reserve as well as exposed their crooked basis. This movie received widespread acclaim, including opening to standing ovations at the Cannes Film Festival. Congressman Ron Paul was also featured in the documentary, in which he presents his views on the economy and the Federal Reserve. Aaron's work in the realm of activism proved to be invaluable and selfless. He will be perpetually revered as a true patriot and tireless fighter for our freedom. We must continue to venerate Aaron's legacy as we move forward by honoring his great words: "There are no boundaries one must adhere to when preserving one's liberty"."
Gary Edwards

The Daily Bell - Doug Casey on the Continuing Debasement of Money, Language and Banking... - 0 views

www.thedailybell.com/...-and-Banking-in-the-Modern-Age

Banksters

shared by Gary Edwards on 09 Jul 15 - No Cached
  • This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference – not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save – when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better.
  • They are, idiotically, doing exactly the opposite of what they should be.
  • In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy.
  • ...35 more annotations...
  • The Chinese, the Japanese – everybody is selling, trying to pass the Old Maid card of US Government debt, which represents return–free risk. Nobody other than the Fed is buying, and interest rates would skyrocket if they stopped. The more QE there is, the more distortions it will cause, however, making for a bigger disaster the longer it goes on.
  • Will the Fed continue to inflate the money supply? Doug Casey: They have to, because with the huge amount of debt in the world – and the amount of debt in the world has increased something like 40 or 50% just since the Greater Depression started – if they don't keep increasing the amount of money in the world then nobody's going to be able to service the huge amount of debt that is out there. So I don't see anything changing in the years to come. They've truly painted themselves into a corner. They're caught between Scylla and Charybdis, and we don't have Odysseus steering the ship of state.
  • Let me say, again, that the Fed serves no useful purpose and it should be abolished. Central banks create "super money" by buying government or other debt with new currency units that they credit to the sellers' accounts at commercial banks. That's the actual engine of inflation.
  • But it's greatly compounded in the commercial banking system through fractional reserve lending – which would not be possible without a central bank. Fractional reserve lending allows banks to multiply the money supply several times.
  • If $100 of Fed super money, freshly created, is deposited in a commercial bank like Chase or Citibank, then $90 can be lent out with a 10% reserve, the current number. That money is redeposited. They'll then lend out 90% of that $90, or $81, and then 90% of that $81, so it multiplies.
  • Central banking and fractional reserve lending go hand-in-hand.
  • Without a central bank, any bank that engaged in fractional reserve banking would be considered guilty of fraud and, when discovered, would be punished by a bank run, followed by criminal charges. The point to be made here is that the entire banking system today is totally unsound and totally corrupt.
  • In a sound banking system you have two types of deposits – checking account (or demand) deposits, and savings account (or time) deposits. They are completely different businesses. With demand deposits, you pay the bank to store your money securely, and write checks against it. A bank should no more lend out demand deposit money than Allied Storage should lend out the furniture you're paying them to store.
  • Savings accounts are completely different. Here you lend money to a bank, perhaps at 3%, and they relend it at 6%, making 3% to cover costs, risks and profits. A sound bank not only has to match the maturities of its deposits with the maturities of its loans, but must insure loans are both highly secured and self-liquidating.
  • These principles have been totally lost. Today banks operate as hedge funds.
  • As an aside, if someone were to set up a well-capitalized 100% reserve bank in a tax haven, especially using gold as an alternative currency, it would be immensely successful in the years to come – when most all conventional banks will fail.
  • By all historical, normal parameters, the stock market is greatly overvalued.
  • The trillions of new currency units that the Fed is creating are creating bubbles, and one of them is in the stock market. The biggest bubble, of course, is in the bond market – that's a super bubble.
  • Not only does the dollar have no real value but the banks you keep it in are all insolvent.
  • There are few sound investments out there. Today there are no investments; there are only speculations.
  • From the economist's point of view, the bubbles created by central banking are a disaster, but from a speculator's point of view they're a godsend. It's becoming harder and harder to be an investor; I define an investor as someone who allocates capital to productive business. It's hard to be an investor because you now have to spend more money on lawyers than on engineers and workers if you want to produce something. You're increasingly forced to be a speculator in today's climate.
  • Stock and bond markets all over the world are overpriced – with the exception of Russian stocks right now; they could be a very interesting speculation. I wouldn't touch anything in China yet, because all the Chinese banks are going to go bust.
  • The Chinese have been more profligate inflating the yuan than the Americans have been with the dollar. It's fantastic what the Chinese have done since Deng liberalized the economy in the early '80s, but now's not a time to be in their markets.
  • You've got to remember there are two types of people in the world: people who want to control material reality and people who want to control other people.
  • It's that second type who go into politics. They play games – here it's called the Great Game, which dignifies it in a way it shouldn't be – with other people's lives and property. It's been this way ever since the state was created about 5,000 years ago, and I don't think you should play games with other people's lives.
  • On the bright side, there are more scientists and engineers alive today than in all of human history put together, and so technology is advancing more rapidly than ever for that reason. That's a huge plus.
  • The second good thing is that the average person, at least those who aren't on welfare, tries to produce more than he consumes. That creates capital.
  • But I'm afraid that Western civilization reached its peak before World War I. World War I destroyed a huge amount of capital and, more importantly, it changed the moral bases of so many things.
  • Then World War II institutionalized the State as the most important part of society – which is perverse, because the state is actually the enemy of civil society.
  • I think Western civilization reached its peak in 1913, when it reached its maximum geographical extent. That was coincidental with the peak of its technological and philosophical influence on the world, much the way the Roman Empire reached its peak at about the end of the first century, then went down, slowly at first and then quickly. That's what's happening to the West.
  • Relative to the rest of the world, and contribution to world production, our piece of the economic pie is getting smaller and smaller. If we have another serious war it would be absolutely smaller, and the final nail in the coffin. Meanwhile, the US, with its bloated military, is just itching for another war. It's out of control, and unlikely to change at this point. That's a big trend that is in motion that I think is going to stay in motion.
  • Europe is in particularly bad shape. The place is a fascist/socialist disaster.
  • It was possible for the average European to keep his head above water through tax evasion in the past, but now those governments have broken bank secrecy everywhere, and it will destroy a lot of capital.
  • The "nation-state" is a really stupid and dysfunctional idea, and I'm glad it's on its way out.
  • That said, even the US, which from a cultural point of view is as much of a country as any place in the world, should actually break up into at least five or six regions.
  • Canada should break up into at least five or six regions initially.
  • I don't think politically; politics is the problem, not the solution. I think that the ideal solution is for every individual to opt out of the current system. When they give a war, you don't come. When they give a tax, you don't pay. When they give an election, you don't vote. You even try not to use their currency and their banking system. T
  • he ideal thing is to let the system collapse under its own weight as opposed to starting a new political party and then continuing to act politically, which is to say to use force on other people.
  • Market risk is huge today, but political risk is even bigger. One indication of that was, when the banks in Cyprus went bust some months ago, the government essentially confiscated everybody's account above 100,000 euros, in what they called a "bail-in."
  • You need several options. It seems like people haven't learned anything from what happened in Russia in 1917, Germany in 1933, China in 1948, Cuba in 1959, or Vietnam in 1975. Rwanda, Cambodia, Yugoslavia, Zimbabwe, Ukraine, Syria ... there are lots of examples and these things can and will eventually happen almost everywhere. When the chimpanzees go crazy, you don't want to be where they are. You've got to have a Plan B. You've got to have a crib out of that political jurisdiction. Acting like a plant, and staying put, isn't a good survival strategy for a human.
  • Gary Edwards on 09 Jul 15
     
    "Doug Casey: I don't see a real recovery until they stop debasing the currency, radically cut government spending and taxation and eliminate most regulation. In other words, cease doing the things that caused this depression. And that's not going to happen until there's a collapse of the current order. Things have cyclically improved since the height of the crisis of 2008-09. The trillions of currency units created by the Federal Reserve have jammed the stock market higher and kept the big banks from going under. What surprises me is that retail prices have not moved as significantly as I would have expected. The reason, I believe, is that most of that money is still sitting in financial institutions. It has gone into cash out of fear, into stocks because they represent real wealth with earning power and into various speculative assets like artwork and collectible cars. Real estate has recovered somewhat, not because of strong fundamentals but strictly because of money creation. This isn't going to last because the way you get wealthy is by producing more than you consume and saving the difference - not by consuming more than you produce, and borrowing the difference. With the Fed keeping interest rates at artificially low levels, hoping to increase consumption, they're making it very foolish to save - when you get ½% or 1% on your savings. So people are saving less and they're borrowing more than they otherwise would. This is a formula for making things worse, not better. They are, idiotically, doing exactly the opposite of what they should be. Although, I hasten to add, I hate to pontificate on what the Fed "should" do. In point of fact, the Fed should be abolished; the market, not bureaucrats, should determine interest rates. We wouldn't be in this pickle to start with if the government wasn't involved in the economy. In fact, if it wasn't for the state, I suspect we'd all have a vastly higher standard of living, and would be colonizing the Moon, Mars and
Gary Edwards

Gang of 545 and The Basic Flaw by Charley Reese - 2 views

www.lewrockwell.com/...reese494.html

Charlie-Reese Libertarian Gang-of-545

shared by Gary Edwards on 31 May 12 - No Cached
  • Gary Edwards on 31 May 12
     
    Enough said.  Beautifully done Charlie! intro: Politicians are the only people in the world who create problems and then campaign against them. Have you ever wondered why, if both the Democrats and the Republicans are against deficits, we have deficits? Have you ever wondered why, if all the politicians are against inflation and high taxes, we have inflation and high taxes? You and I don't propose a federal budget. The president does. You and I don't have the Constitutional authority to vote on appropriations. The House of Representatives does. You and I don't write the tax code. Congress does. You and I don't set fiscal policy. Congress does. You and I don't control monetary policy. The Federal Reserve Bank does. One hundred senators, 435 congressmen, one president and nine Supreme Court justices - 545 human beings out of the 235 million - are directly, legally, morally and individually responsible for the domestic problems that plague this country.
  • Gary Edwards on 31 May 12
     
    Bay Area Patriot Group post
Gary Edwards

My Blog - 0 views

kingworldnews.com/...German_Gold_Hoard_Is_Gone.html

shared by Gary Edwards on 02 Nov 12 - No Cached
  • Gary Edwards on 02 Nov 12
     
    Extensive explanation of how the Banksters and fellow globalists work.  this time with the focus on the Federal Reserve and Treasury activities in the Gold Market.   At the heart of this explanation though is the discovery that the German Bundesbank has emptied the vaults holding the entire German Gold horde.  The leased vaults were located in NYC, deep under the Manhattan Federal Reserve Bankster headquarters.  It's gone.  And the German people have yet to wake up to that fact.  Amazingly, Italy and Greece have more Gold than Germany - the country whose Banksters they owe billions in debt to. Business Insider has an Aug 2012 list, form the World Gold Council, of the 10 Countires with the biggest Gold Reserves: http://goo.gl/IGU3n Italy is #3, and Germany is #2.  The USA is #1.  Notably, according this BI report, Germany has refused to use their Gold to bolster the European Financial Stability Fund (EFSF).  Maybe it's because they do not have any GOLD?  Inquiring minds need to know :) "Turk added, "Half of the gold they (the Germans) leased themselves.  The other half of Germany's gold hoard was eventually leased into the market as well through complicated swaps with the US.  But the reality is that as of 2001, all of that German gold was gone.  Meaning all German gold worldwide, which was supposed to be stored in vaults, the vaults were emptied of German gold and the gold was leased into the market." Turk went on to say, "It's uncertain if any of that leased gold has ever been returned to those vaults.  Meaning, the vaults which are supposed to be storing the German gold hoard may still be empty." Incredibly, 11 years ago James Turk had diagnosed the problems of the missing German gold hoard.  Here is the 2001 piece titled, "Behind Closed Doors" in which he exposed the German gold was in fact missing: "
Paul Merrell

Federal Reserve Audit Bill Overwhelmingly Passes The House - 0 views

www.huffingtonpost.com/...erve-audit-bill_n_1702879.html

federal reserve audit legislation Federal-Reserve-Bankster-Cartel

shared by Paul Merrell on 26 Jul 12 - No Cached
  • WASHINGTON -- In a rare moment of bipartisanship, the House overwhelmingly passed a bill by Rep. Ron Paul (R-Texas) to audit the Federal Reserve. The bill, which has 270 co-sponsors, passed 327 to 98. All but one Republican -- Rep. Bob Turner of New York -- voted for it, along with 89 Democrats. Paul teamed up with former Rep. Alan Grayson (D-Fla.) in 2010 to pass similar legislation that became part of the final Wall Street reform bill. But Paul has said new audit legislation is needed because the 2010 bill didn't go far enough. Specifically, he states on his website that the audit called for in the 2010 bill only focused on emergency credit programs and procedural issues, rather than on the substantive details of the lending transactions. The 2012 bill doesn't limit the focus of the audit.
  • "The Fed creates trillions of dollars out of nothing and gives it to banks. Congress is in the dark. The Fed sets the stage for the subprime meltdown. Congress is in the dark. The Fed takes a dive on LIBOR. Congress is in the dark. The Fed doesn’t tell regulators what is going on. Congress is in the dark," Kucinich shouted on the House floor, just before the vote. "It is time for us to bring the Fed into the sunshine of accountability," he said.
Gary Edwards

Next Leg Of The Ponzi Revealed - Foreign Central Banks To Begin Buying US Stocks Outrig... - 0 views

www.zerohedge.com/...stocks-outright-starting-today

Federal-Reserve-Bankster-Cartel

shared by Gary Edwards on 02 Mar 12 - No Cached
  • Gary Edwards on 02 Mar 12
     
    Another great chart detailing the Feds destruction of our currency.  Is this money laundering or a giant ponzi scheme? The good news is that the stock market is on a tear.  The bad news?  International banksters are gobbling up US corporate stocks with the Trillions of freshly printed dollars our Federal Reserve Cartel was kind enough to provide.   Recall that the July 2010 GAO audit of the Federal Reserve Banksters revealed an eye-popping $16.1 Trillion dollars had been distributed to domestic and international banksters between December 2007 and January 2010.   Where did the money go?  How do those dollars make their way back into the world economy?  And what will happen to the value of the dollar when these vast sums do show up in world financial markets? The banksters are not lending.  And companies are not borrowing.  The Trillions flooding the worlds banksters was originally thought to provide liquidity and keep the economy churning.  While there are many competing answers to the question of why this massive bailout and reboot didn't work, were now witnessing the wholesale purchase of corporate ownership with those dollars.   "Don't want to borrow those Trillions?  Good.  We'll buy you then." Sorry, but this looks like a gigantic money laundering scheme where hot dollars are dumped off in exchange for real assets. excerpt:  In other words, while the Fed's charter forbids it from buying US equities outright, it certainly can promise that it will bail out such bosom friends as the Bank of Israel, the Swiss National Bank, and soon everyone else, if and when their investment in Apple should sour. Luckily, this means that the exponential phase in risk is approaching as everyone will now scramble to frontrun central bank purchases no longer in bonds, but in stocks outright, leading to epic surges in everything risk related, then collapse and force the Fed to print tens of trillions to bail everyone out all over again, rinse repea
Gary Edwards

Obama To Americans: You Don't Deserve To Be Free - Forbes - 1 views

www.forbes.com/...ns-you-dont-deserve-to-be-free

Obammunism Statism Ayn-Rand-Libertarian

shared by Gary Edwards on 02 Jan 14 - No Cached
  • President Obama’s Kansas speech is a remarkable document. In calling for more government controls, more taxation, more collectivism, he has two paragraphs that give the show away. Take a look at them. there is a certain crowd in Washington who, for the last few decades, have said, let’s respond to this economic challenge with the same old tune. “The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes–especially for the wealthy–our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesn’t trickle down, well, that’s the price of liberty. Now, it’s a simple theory. And we have to admit, it’s one that speaks to our rugged individualism and our healthy skepticism of too much government. That’s in America’s DNA. And that theory fits well on a bumper sticker. (Laughter.) But here’s the problem: It doesn’t work. It has never worked. (Applause.) It didn’t work when it was tried in the decade before the Great Depression. It’s not what led to the incredible postwar booms of the ’50s and ’60s. And it didn’t work when we tried it during the last decade. (Applause.) I mean, understand, it’s not as if we haven’t tried this theory.
  • Though not in Washington, I’m in that “certain crowd” that has been saying for decades that the market will take care of everything. It’s not really a crowd, it’s a tiny group of radicals–radicals for capitalism, in Ayn Rand’s well-turned phrase. The only thing that the market doesn’t take care of is anti-market acts: acts that initiate physical force. That’s why we need government: to wield retaliatory force to defend individual rights. Radicals for capitalism would, as the Declaration of Independence says, use government only “to secure these rights”–the rights to life, liberty, property, and the pursuit of happiness. (Yes, I added “property” in there–property rights are inseparable from the other three.) That’s the political philosophy on which Obama is trying to hang the blame for the recent financial crisis and every other social ill. But ask yourself, are we few radical capitalists in charge? Have radical capitalists been in charge at any time in the last, oh, say 100 years?
  • I pick 100 years deliberately, because it was exactly 100 years ago that a gigantic anti-capitalist measure was put into effect: the Federal Reserve System. For 100 years, government, not the free market, has controlled money and banking. How’s that worked out? How’s the value of the dollar held up since 1913? Is it worth one-fiftieth of its value then or only one-one-hundredth? You be the judge. How did the dollar hold up over the 100 years before this government take-over of money and banking? It actually gained slightly in value.
  • ...5 more annotations...
  • Laissez-faire hasn’t existed since the Sherman Antitrust Act of 1890. That was the first of a plethora of government crimes against the free market.
  • The typical Republican would never, ever say “the market will take care of everything.” He’d say, “the market will take care of most things, and for the other things, we need the regulatory-welfare state.” They are for individualism–except when they are against it. They are against free markets and individualism not only when they agree with the Left that we must have antitrust laws and the Federal Reserve, but also when they demand immigration controls, government schools, regulatory agencies, Medicare, laws prohibiting abortion, Social Security, “public works” projects, the “social safety net,” laws against insider trading, banking regulation, and the whole system of fiat money.
  • Even you, dear reader, are probably wondering how on earth anyone could challenge things like Social Security, government schools, and the FDA. But that’s not the point. The point is: these statist, anti-capitalist programs exist and have existed for about a century. The point is: Obama is pretending that the Progressive PGR -2.02% Era, the New Deal, and the Great Society were repealed, so that he can blame the financial crisis on capitalism. He’s pretending that George Bush was George Washington.
  • What Obama is indeed responsible for is the injustice of robbing some to (allegedly) benefit others. To the extent that cronyism, not the free market, sets income, that is an injustice to be laid at the statists’ door.
  • There is no such problem as “unemployment” under capitalism. Prices fall to clear the market. Twice the work force could be employed if average wages dropped in half. But that’s nominal wages; with a constant money supply, prices would also fall in half–or slightly more than that. This isn’t just theory. America’s workforce has grown steadily decade after decade, yet the standard of living has risen at the same time. I grant you that the rise has slowed as statist intervention has grown. Think of the phenomenal progress between, say 1900 and 1920 as compared to the minor progress from 1993 to 2013. Most of the progress in the last 20 years has come in the freest area of the economy: electronics and computing.
  • Gary Edwards on 02 Jan 14
     
    Harry Binswanger defends laissez-faire capitalism, using Ayn Rand Objectivism.
  • Paul Merrell on 02 Jan 14
     
    The major problem with Ayn Rand Objectivism is that it's an "ism." The Utopian ideal it is based on has never existed in reality and likely never will; its principles have never been tested. Moreover, I will argue that Binswanger is incorrect in arguing that the anti-capitalist phenomenon in America began with creation of the Federal Reserve; it dates much farther back. The economic basis for the Revolutionary War was largely the Crown-granted monopolies granted to the first great British "companies" (corporations), which had the effect of forcing North American colonists to pay monopoly rents for common goods and kept American ship owners from importing those goods from elsewhere to sell at a lower price. The Founding Fathers were strongly against privately-owned corporations and government-granted monopolies, with only two exceptions, copyrights for literary works and patents for inventions. The Constitution's prohibition against government-granted monopolies is implicit in its allowance for only two narrowly-defined types. The Founding Fathers' writings explicitly discussed the difference between "natural" monopolies and those created by government or anti-competitive conduct. During the early years of the nation corporations were permitted by the States, but only for public purposes, usually for public works such as bridges or roads for which there was a need to amass capital. These early American corporations were usually chartered only for the time required to complete the public work and to recover the invesment and a small profit, e.g., from tolls for using a bridge or road. Many of the early state constitutions explicitly limited the lifetime of corporations. However, such early opposition to corporations gradually eroded; corporate purposes were expanded, corporations were granted perpetual life, and the corporate form of doing business became much more widespread. Here, it is important to recognize that corporations are market artificialities c
Gary Edwards

Bankers Get $4 Trillion Gift From Barney Frank: David Reilly - Bloomberg - 1 views

www.bloomberg.com/...barney-frank-david-reilly.html

Dodd-Frank-Act banksters financial-collapse Federal-Reserve-Bankster-Cartel

shared by Gary Edwards on 12 Nov 13 - No Cached
  • Gary Edwards on 12 Nov 13
     
    excerpt: "While banks opposed the legislation, they should cheer for its passage by the full Congress in the New Year: There are huge giveaways insuring the government will again rescue banks and Wall Street if the need arises. Nuggets Gleaned Here are some of the nuggets I gleaned from days spent reading Frank's handiwork: -- For all its heft, the bill doesn't once mention the words "too-big-to-fail," the main issue confronting the financial system. Admitting you have a problem, as any 12- stepper knows, is the crucial first step toward recovery. -- Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for "no-more-bailouts" talk. That is more than twice what the Fed pumped into markets this time around. The size of the fund makes the bribes in the Senate's health-care bill look minuscule. -- Oh, hold on, the Federal Reserve and Treasury Secretary can't authorize these funds unless "there is at least a 99 percent likelihood that all funds and interest will be paid back." Too bad the same models used to foresee the housing meltdown probably will be used to predict this likelihood as well. More Bailouts -- The bill also allows the government, in a crisis, to back financial firms' debts. Bondholders can sleep easy -- there are more bailouts to come. -- The legislation does create a council of regulators to spot risks to the financial system and big financial firms. Unfortunately this group is made up of folks who missed the problems that led to the current crisis. -- Don't worry, this time regulators will have better tools. Six months after being created, the council will report to Congress on "whether setting up an electronic database" would be a help. Maybe they'll even get to use that Internet thingy. -- This group, among its many powers, can restrict the ability of a financial firm to trade for its own account. Perha
Paul Merrell

Solution to the "Shutdown": The Fed Could Simply Cancel $2 Trillion of Government Debt ... - 0 views

www.globalresearch.ca/...5354037

debt-battle federal-reserve Grayson

shared by Paul Merrell on 13 Oct 13 - No Cached
  • Bipartisan Proposal Would Take Pressure Off the Budget Crisis Congressman Alan Grayson and former congressman Ron Paul are two of the fiercest warriors against an out-of-control Federal Reserve. Paul has campaigned to dissolve the Fed for 35 years, and wrote an entire book called “End the Fed“. Grayson has  repeatedly slammed the Fed, and absolutely demolished it … to its face.    Paul and Grayson also co-sponsored a bill to audit the Federal Reserve. (Their desire to rein in the Fed is supported by numerous top economists.) So when the two of them support a Fed-related solution to the “government shutdown” crisis,  I listen.
Paul Merrell

US's Saudi Oil Deal from Win-Win to Mega-Loose | nsnbc international - 0 views

nsnbc.me/...eal-from-win-win-to-mega-loose

must-read banksters big oil Saudis Russia shale-oil U.S.-foreign-policy

shared by Paul Merrell on 09 Aug 15 - No Cached
  • Who would’ve thought it would come to this? Certainly not the Obama Administration, and their brilliant geo-political think-tank neo-conservative strategists. John Kerry’s brilliant “win-win” proposal of last September during his September 11 Jeddah meeting with ailing Saudi King Abdullah was simple: Do a rerun of the highly successful State Department-Saudi deal in 1986 when Washington persuaded the Saudis to flood the world market at a time of over-supply in order to collapse oil prices worldwide, a kind of “oil shock in reverse.” In 1986 was successful in helping to break the back of a faltering Soviet Union highly dependent on dollar oil export revenues for maintaining its grip on power. So, though it was not made public, Kerry and Abdullah agreed on September 11, 2014 that the Saudis would use their oil muscle to bring Putin’s Russia to their knees today.
  • It seemed brilliant at the time no doubt. On the following day, 12 September 2014, the US Treasury’s aptly-named Office of Terrorism and Financial Intelligence, headed by Treasury Under-Secretary David S. Cohen, announced new sanctions against Russia’s energy giants Gazprom, Gazprom Neft, Lukoil, Surgutneftgas and Rosneft. It forbid US oil companies to participate with the Russian companies in joint ventures for oil or gas offshore or in the Arctic. Then, just as the ruble was rapidly falling and Russian major corporations were scrambling for dollars for their year-end settlements, a collapse of world oil prices would end Putin’s reign. That was clearly the thinking of the hollowed-out souls who pass for statesmen in Washington today. Victoria Nuland was jubilant, praising the precision new financial warfare weapon at David Cohen’s Treasury financial terrorism unit. In July, 2014 West Texas Intermediate, the benchmark price for US domestic oil pricing, traded at $101 a barrel. The shale oil bonanza was booming, making the US into a major oil player for the first time since the 1970’s. When WTI hit $46 at the beginning of January this year, suddenly things looked different. Washington realized they had shot themselves in the foot.
  • They realized that the over-indebted US shale oil industry was about to collapse under the falling oil price. Behind the scenes Washington and Wall Street colluded to artificially stabilize what then was an impending chain-reaction bankruptcy collapse in the US shale oil industry. As a result oil prices began a slow rise, hitting $53 in February. The Wall Street and Washington propaganda mills began talking about the end of falling oil prices. By May prices had crept up to $62 and almost everyone was convinced oil recovery was in process. How wrong they were.
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  • Since that September 11 Kerry-Abdullah meeting (curious date to pick, given the climate of suspicion that the Bush family is covering up involvement of the Saudis in or around the events of September 11, 2001), the Saudis have a new ageing King, Absolute Monarch and Custodian of the Two Holy Mosques, King Salman, replacing the since deceased old ageing King, Abdullah. However, the Oil Minister remains unchanged—79-year-old Ali al-Naimi. It was al-Naimi who reportedly saw the golden opportunity in the Kerry proposal to use the chance to at the same time kill off the growing market challenge from the rising output of the unconventional USA shale oil industry. Al-Naimi has said repeatedly that he is determined to eliminate the US shale oil “disturbance” to Saudi domination of world oil markets. Not only are the Saudis unhappy with the US shale oil intrusion on their oily Kingdom. They are more than upset with the recent deal the Obama Administration made with Iran that will likely lead in several months to lifting Iran economic sanctions. In fact the Saudis are beside themselves with rage against Washington, so much so that they have openly admitted an alliance with arch foe, Israel, to combat what they see as the Iran growing dominance in the region—in Syria, in Lebanon, in Iraq.
  • This has all added up to an iron Saudi determination, aided by close Gulf Arab allies, to further crash oil prices until the expected wave of shale oil company bankruptcies—that was halted in January by Washington and Wall Street manipulations—finishes off the US shale oil competition. That day may come soon, but with unintended consequences for the entire global financial system at a time such consequences can ill be afforded. According to a recent report by Wall Street bank, Morgan Stanley, a major player in crude oil markets, OPEC oil producers have been aggressively increasing oil supply on the already glutted world market with no hint of a letup. In its report Morgan Stanley noted with visible alarm, “OPEC has added 1.5 million barrels/day to global supply in the last four months alone…the oil market is currently 800,000 barrels/day oversupplied. This suggests that the current oversupply in the oil market is fully due to OPEC’s production increase since February alone.” The Wall Street bank report adds the disconcerting note, “We anticipated that OPEC would not cut, but we didn’t foresee such a sharp increase.” In short, Washington has completely lost its strategic leverage over Saudi Arabia, a Kingdom that had been considered a Washington vassal ever since FDR’s deal to bring US oil majors in on an exclusive basis in 1945.
  • That breakdown in US-Saudi communication adds a new dimension to the recent June 18 high-level visit to St. Petersburg by Muhammad bin Salman, the Saudi Deputy Crown Prince and Defense Minister and son of King Salman, to meet President Vladimir Putin. The meeting was carefully prepared by both sides as the two discussed up to $10 billion of trade deals including Russian construction of peaceful nuclear power reactors in the Kingdom and supplying of advanced Russian military equipment and Saudi investment in Russia in agriculture, medicine, logistics, retail and real estate. Saudi Arabia today is the world’s largest oil producer and Russia a close second. A Saudi-Russian alliance on whatever level was hardly in the strategy book of the Washington State Department planners.…Oh shit! Now that OPEC oil glut the Saudis have created has cracked the shaky US effort to push oil prices back up. The price fall is being further fueled by fears that the Iran deal will add even more to the glut, and that the world’s second largest oil importer, China, may cut back imports or at least not increase them as their economy slows down. The oil market time bomb detonated in the last week of June. The US price of WTI oil went from $60 a barrel then, a level at which at least many shale oil producers can stay afloat a bit longer, to $49 on July 29, a drop of more than 18% in four weeks, tendency down. Morgan Stanley sounded loud alarm bells, stating that if the trend of recent weeks continues, “this downturn would be more severe than that in 1986. As there was no sharp downturn in the 15 years before that, the current downturn could be the worst of the last 45+ years. If this were to be the case, there would be nothing in our experience that would be a guide to the next phases of this cycle…In fact, there may be nothing in analyzable history.”
  • October is the next key point for bank decisions to roll-over US shale company loans or to keep extending credit on the (until now) hope that prices will slowly recover. If as strongly hinted, the Federal Reserve hikes US interest rates in September for the first time in the eight years since the global financial crisis erupted in the US real estate market in 2007, the highly-indebted US shale oil producers face disaster of a new scale. Until the past few weeks the volume of US shale oil production has remained at the maximum as shale producers desperately try to maximize cash flow, ironically, laying the seeds of the oil glut globally that will be their demise. The reason US shale oil companies have been able to continue in business since last November and not declare bankruptcy is the ongoing Federal Reserve zero interest rate policy that leads banks and other investors to look for higher interest rates in the so-called “High Yield” bond market. Back in the 1980’s when they were first created by Michael Millken and his fraudsters at Drexel Burnham Lambert, Wall Street appropriately called them “junk bonds” because when times got bad, like now for Shale companies, they turned into junk. A recent UBS bank report states, “the overall High-Yield market has doubled in size; sectors that witnessed more buoyant issuance in recent years, like energy and metals mining, have seen debt outstanding triple or quadruple.”
  • Assuming that the most recent downturn in WTI oil prices continues week after week into October, there well could be a panic run to sell billions of dollars of those High-Yield, high-risk junk bonds. As one investment analyst notes, “when the retail crowd finally does head for the exits en masse, fund managers will be forced to come face to face with illiquid secondary corporate credit markets where a lack of market depth…has the potential to spark a fire sale.” The problem is that this time, unlike in 2008, the Federal Reserve has no room to act. Interest rates are already near zero and the Fed has bought trillions of dollars of bank bad debt to prevent a chain-reaction US bank panic. One option that is not being discussed at all in Washington would be for Congress to repeal the disastrous 1913 Federal Reserve Act that gave control of our nation’s money to a gang of private bankers, and to create a public National Bank, owned completely by the United States Government, that could issue credit and sell Federal debt without the intermediaries of corrupt Wall Street bankers as the Constitution intended. At the same time they could completely nationalize the six or seven “Too Big To Fail” banks behind the entire financial mess that is destroying the foundations of the United States and by extension of the role of the dollar as world reserve currency, of most of the world.
  • Paul Merrell on 09 Aug 15
     
    I give a lot of credibility to this article's author when it comes to matters involving the oil market. Remember when reading that the only thing propping up the U.S. dollar is the Saudi (later extended to all OPEC nations) insistence that they be paid for their oil and natural gas in U.S. dollars, which creates artificial demand for the dollar globally. If the Gulf Coast States begin accepting payment in rubles or yuan, it is curtains for the U.S. dollar in global markets.  
Gary Edwards

The US Dollar is Doomed: from The Daily Reckoning - 0 views

dailyreckoning.com/the-us-dollar-is-doomed

daily-recknoning financial-collapse fiat-money dollar-destruction banksters

shared by Gary Edwards on 24 Oct 10 - No Cached
  • The truth is that the US is insolvent and its policymakers will stop at nothing in order to avoid sovereign default. So, it should come as no surprise that at its latest meeting, the Federal Reserve downplayed the risk of inflation, thereby setting the stage for another round of money creation.
  • Gary Edwards on 24 Oct 10
     
    10/22/10 Hong Kong, China - Austerity be damned, at this rate Mr. Bernanke will go down in the history books as one of the greatest money creators ever to have walked this planet! Never mind sky-high deficits and a crushing debt overhang, at its most recent FOMC meeting, the Federal Reserve all but guaranteed another round of quantitative easing. The truth is that the US is insolvent and its policymakers will stop at nothing in order to avoid sovereign default. So, it should come as no surprise that at its latest meeting, the Federal Reserve downplayed the risk of inflation, thereby setting the stage for another round of money creation.
Gary Edwards

Meltdown | Thomas E Woods, Jr. - YouTube - 0 views

www.youtube.com/watch

Tom-Woods Austrian-Economics Boom-Bust-Cycles Interest-Rates Fiat-vs-Lawful-Money Federal-Reserve-Bankster-Cartel financial-collapse banksters

shared by Gary Edwards on 04 Oct 11 - No Cached
  • Gary Edwards on 04 Oct 11
     
    Tom Woods speaking in Boulder, Co.  This video is 1 hour long, but it may be the best 1 hour ever spent!  Should be mandatory viewing for every American before they enter the voting booth.  Hayek and the Austrian Business - Economic cycle theory are fully explained and applied to historical cycles of boom and bust, with particular attention, very humurous attention i might add, to the 2001 and 2008 financial collapse. One thing puzzles me though.  I kept wondering how it is we restructure the banking system?  Killing the Federal reserve is just the start.  But how do we "free" the market balance of investment, resources and savings from the disruption of artificial or mistaken interest rates?  It seems to me that Banks have always had difficulty with the allocation of investment resources - "capital" with a K. As i listened to Tom, totally captured by his engaging presentation, the depths of his thinking, and the humorous delivery, i couldn't help but think that one way of ending the vicious cycles of interest rate buffoonery would be to end the Federal Bankster Reserve, put the currency into the hands of the US Treasury, with the States electing currency governors to control the Treasury; but fixing the interest rate of treasury currency to the value of "Lawful money" as defined in the Constitution to be that which is redeemable in Gold or Silver.  As in, the historical value of the dollar = 371.25 troy grains of silver.  The fact is, "Lawful money" is a Constitutional requirement. Today we have two kinds of dollars: fiat, or funny money, and, Lawful money.  The conversion rate between fiat dollars and Gold is once again near $1700 per ounce.  My question is; How do we derive a "Lawful Interest Rate" from the ratio of fiat to "Lawful money"?  Seems to me that for the Austrian business cycle to work, some guidance to a "Lawful Interest Rate" must be outlined.
Gary Edwards

Who owns the Fed? - 1 views

www.save-a-patriot.org/...whofed.html

Banksters Federal-Reserve-Bankster-Cartel Rothschild-Bank-of-England banksters

shared by Gary Edwards on 20 Oct 11 - Cached
  • Gary Edwards on 20 Oct 11
     
    Complex diagrams tracking the interlocking ownership of the Federal Reserve Bankster Cartel. At the top of the list is the House of Rothschild, owners of the Bank of England. Family names include Morgan, Rockefeller, Loeb, Kuhn, Lehman, Schroder, Warburg, Schiff, Baker, Ryan, Pyne, Sterling, Harriman, and Morton. There are many interesting individuals listed also. These people famously served the interlocking Bankster/Corporatist families in many capacities, but notably consistently showing up on the FedRes board of directors. Names like Allen Dulles and the Bechtel crowd that served in the Reagan Administration (Weinberger, Schultz). The most stunning performer though is Sir Gordon Richardson of the Rothschilds Bank of England. There are a number of examples of how the Bankster families interlock with the web of global corporations. The tracks include those that run through David Rockefeller, JP Morgan, and J Henry Schroder (of the Hamburg Von Schroder Banksters). Stunning stuff. The interlocking of family trust funds, Federal Reserve directorship, and global Corporations is also exampled. I'm getting very sick.
Gary Edwards

Lipsky: Obama Making Same Mistakes That Led to Great Depression - 0 views

www.moneynews.com/...415818

Banksters Federal-Reserve-Bankster-Cartel WSJ Seth-Lipsky gold-standard banksters

shared by Gary Edwards on 27 Oct 11 - No Cached
  • Gary Edwards on 27 Oct 11
     
    Interview with Seth Lipsky, former Wall street Asia - NY Sun editor, and journalist.  Seth explains the constitutional requirements that Congress control and protect a hard currency.  He also explains his support for Ron Paul, the Paul-Perry-Cain "flat tax" proposals, and the Federal Reserve Bankster Cartel.  Hard to believe Seth worked for the Wall Street Journal, otherwise known as the globalist bankster voice.  IMHO, no one has done more to confuse the public with free market - capitalism posturing while promoting outrageous banksterism, crony capitalism and a militaristic global corporatism that threatens the sovereignty of the USA than the WSJ.  Seth however is great. excerpt: The founding fathers named the U.S. currency after a coin called a Spanish-milled dollar, which represented 371.25 grains of pure silver, and put protecting its value in the hands of Congress. "They meant the dollar to be a measure of value and in fact they gave Congress the power to coin money and regulate the value thereof in the same sentence of the Constitution in which they gave Congress the power to fix the standards of weights and measures," Lipsky told Newsmax.TV. _________________________________________________________ Editor's note: To get 'It Shines for All' at a great price - Click Here Now. _________________________________________________________  "What the reform movement that we have been covering in The Sun wants Congress to do is to step up to that Constitutional responsibility to establish a proper value to the dollar, and then we wouldn't have to worry about inflation and rising prices," he said. "We would have to conduct the government's budgetary operations in a way that didn't result in a collapse in the value of our currency," said Lipsky. Under President Obama, the White House has enacted stimulus measures to incentivize job creation while the Federal Reserve has flooded the economy with money and swollen its balance sheet in an effort to spur
Gary Edwards

Impeach Judge James Robart for violating sovereignty and Constitution - 0 views

www.conservativereview.com/...g-sovereignty-and-constitution

Byron-York Trump-Immigration-Order

shared by Gary Edwards on 08 Feb 17 - No Cached
  • Gary Edwards on 08 Feb 17
     
    "It's still hard to believe we now live in a country where a district judge can demand that we bring in refugees from state sponsors of terror and failed states saturated with terrorists and no data systems during a time of war. It's almost unfathomable that a district judge, an institution created by Congress, can overturn long-standing refugee law and bar the federal government from prioritizing persecuted religious minorities for refugee resettlement. All in contravention to statute, numerous clauses of the Constitution, the social contract, the social compact, popular sovereignty, jurisdictional sovereignty, and 200 years of case law. If Obergefell redefined the building block of all civilization, Judge James Robart's ruling redefined the building block of a sovereign nation. It's hard to comprehend a judicial opinion more divorced from our Constitution, sovereignty, fundamental laws, founding values, history, and tradition. It's also hard to imagine an opinion that is of greater consequence - unless it is ignored. In the long run, Congress must strip the federal judiciary of their power grab and restore Congress' plenary power over immigration, as it was since our founding. However, in the meantime, it's time to make impeachment great again. Impeachment was a critical check on abuse of power   Before the growth of political parties killed the separation of powers, the tool of impeachment was regarded by our founders as one of the most effective ways of checking the executive and judicial branches of government. By my count, impeachment is referenced 58 times in the Federalist Papers and countless times during the Constitutional Convention. Impeachment [U.S.CONST. art. II, §4] was not only reserved for those who engage in criminal behavior. It was clearly designed to check abuse of power. As the Congressional Research Service observes, Congress has identified "improperly exceeding or abusing the powers of the office" as a criterion for
Gary Edwards

PETER SCHIFF: The Housing Bust Was Just A Preview For The Coming Catastrophe - Business... - 0 views

www.businessinsider.com/the-real-crash-2012-5

peter-schiff Lindsey-Williams The-Real-Crash

shared by Gary Edwards on 23 May 12 - No Cached
  • Gary Edwards on 23 May 12
     
    Peter Schiff talks about his new book "The Real Crash: America's Coming Bankruptcy, How to Save Yourself and Your Country".  I caught the Coast-to-Coast "Financial Crisis Special" interview with Peter earlier this week where he spoke on the "Real Crash" issues.  Stunning stuff.  His hour on Coast was followed by Lindsey Williams who pointed out that the New World Order - Illuminati - Bankster trigger point would be signaled by a collapse in the derivatives market. The derivatives market is now over a quadrillion dollars of  casino style gambling.  This is where Banksters make huge bets on things like whether or not interest rates will go up or down.  Then they take out insurance to cover their bets, which further compounds the cost.  Recent events like the Jon Corzine MF Global gamble that the Federal Reserve Bankster Cartel would backstop explosive European sovereign bankster debt are the first indications of collapse in the derivatives market.  We now know that JP Morgan placed similar bets on a European bailout by the Federal Reserve and World Bank, and lost big.  The only difference is that Corzine robbed his clients personal accounts to cover his bets. While Schiff argues the facts on the table, the "what", Lindsay argued the "why"; claiming that this escalating debt mess is all by design.  Lindsay claims that an operational fundamental of the New World Order elites is to first overturn the USA Constitution.  Using a Machiavellian Principle known as, "out of chaos comes order", they seek to de-stabilize and overthrow the USA Constitutional Republic using massive and crushing debt to first destroy the dollar currency.  This will create massive chaos requiring martial law and government seizure of private property and production. Peter Schiff warns that the government is driving us deeper into debt at exactly the time we should be saving and investing those savings in future private sector productivity.  Lindsay argues that this is all by desig
Paul Merrell

BofA Said to Split Regulators Over Moving Merrill Derivatives to Bank Unit - Bloomberg - 0 views

www.bloomberg.com/...-derivatives-to-bank-unit.html

banksters toxic-derivatives BoA JPMorgan FDIC Dodd-Frank too-big-to-fail

shared by Paul Merrell on 13 Nov 13 - No Cached
  • Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation. The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren’t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting, said the people. The bank doesn’t believe regulatory approval is needed, said people with knowledge of its position.
  • Three years after taxpayers rescued some of the biggest U.S. lenders, regulators are grappling with how to protect FDIC- insured bank accounts from risks generated by investment-banking operations. Bank of America, which got a $45 billion bailout during the financial crisis, had $1.04 trillion in deposits as of midyear, ranking it second among U.S. firms. “The concern is that there is always an enormous temptation to dump the losers on the insured institution,” said William Black, professor of economics and law at the University of Missouri-Kansas City and a former bank regulator. “We should have fairly tight restrictions on that.”
  • Moody’s Investors Service downgraded Bank of America’s long-term credit ratings Sept. 21, cutting both the holding company and the retail bank two notches apiece. The holding company fell to Baa1, the third-lowest investment-grade rank, from A2, while the retail bank declined to A2 from Aa3.
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  • The Moody’s downgrade spurred some of Merrill’s partners to ask that contracts be moved to the retail unit, which has a higher credit rating, according to people familiar with the transactions. Transferring derivatives also can help the parent company minimize the collateral it must post on contracts and the potential costs to terminate trades after Moody’s decision, said a person familiar with the matter. Bank of America estimated in an August regulatory filing that a two-level downgrade by all ratings companies would have required that it post $3.3 billion in additional collateral and termination payments, based on over-the-counter derivatives and other trading agreements as of June 30. The figure doesn’t include possible collateral payments due to “variable interest entities,” which the firm is evaluating, it said in the filing.
  • Derivatives are financial instruments used to hedge risks or for speculation. They’re derived from stocks, bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates. Dodd-Frank Rules Keeping such deals separate from FDIC-insured savings has been a cornerstone of U.S. regulation for decades, including last year’s Dodd-Frank overhaul of Wall Street regulation. The legislation gave the FDIC, which liquidates failing banks, expanded powers to dismantle large financial institutions in danger of failing. The agency can borrow from the Treasury Department to finance the biggest lenders’ operations to stem bank runs. It’s required to recoup taxpayer money used during the resolution process through fees on the largest firms.
  • Bank of America’s holding company -- the parent of both the retail bank and the Merrill Lynch securities unit -- held almost $75 trillion of derivatives at the end of June, according to data compiled by the OCC. About $53 trillion, or 71 percent, were within Bank of America NA, according to the data, which represent the notional values of the trades. That compares with JPMorgan’s deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm’s $79 trillion of notional derivatives, the OCC data show.
  • Moving derivatives contracts between units of a bank holding company is limited under Section 23A of the Federal Reserve Act, which is designed to prevent a lender’s affiliates from benefiting from its federal subsidy and to protect the bank from excessive risk originating at the non-bank affiliate, said Saule T. Omarova, a law professor at the University of North Carolina at Chapel Hill School of Law. “Congress doesn’t want a bank’s FDIC insurance and access to the Fed discount window to somehow benefit an affiliate, so they created a firewall,” Omarova said. The discount window has been open to banks as the lender of last resort since 1914. As a general rule, as long as transactions involve high- quality assets and don’t exceed certain quantitative limitations, they should be allowed under the Federal Reserve Act, Omarova said.
  • In 2009, the Fed granted Section 23A exemptions to the banking arms of Ally Financial Inc., HSBC Holdings Plc, Fifth Third Bancorp, ING Groep NV, General Electric Co., Northern Trust Corp., CIT Group Inc., Morgan Stanley and Goldman Sachs Group Inc., among others, according to letters posted on the Fed’s website. The central bank terminated exemptions last year for retail-banking units of JPMorgan, Citigroup, Barclays Plc, Royal Bank of Scotland Plc and Deutsche Bank AG. The Fed also ended an exemption for Bank of America in March 2010 and in September of that year approved a new one. Section 23A “is among the most important tools that U.S. bank regulators have to protect the safety and soundness of U.S. banks,” Scott Alvarez, the Fed’s general counsel, told Congress in March 2008.
  • Paul Merrell on 13 Nov 13
     
    So according to Bloomberg, JPMorgan's commercial bank was the recipient of 99 percent of JPMorgan's $79 trillion (face value of derivatives) in bad bets. So adding JPMorgan's $78 trillion or so to the $75 trillion in bad bets Bank of America unloaded on its FDIC insured subsidiary, we arrive at $153 trillion in bad bets moved by two investment banks alone under the FDIC umbrella. Meanwhile, FDIC has authority under Dodd-Frank to liquidate these insolvent banks but doesn't, despite several successful lawsuits to recover the value of toxic derivatives that they sold to smaller banks that failed (which implies that FDIC could tell JPMorgan and BoA's investment banksters that they've got to pay off the toxic assets they transferred to their commercial banks, rather than diluting the insurance for normal depositors. Problem: the two big investment banks don't have sufficient assets to absorb those losses, so the too-politically-connected-to-fail factor kicks in. Note that I have not done any legal research in regard to these issues and am basing these observations on what has been stated about legal requirements in various media articles.
Gary Edwards

CHILDREN KILLED OF KEVIN KRIM, CHIEF EXECUTIVE OF CNBC DIGITAL, AFTER RELEASING INFORMA... - 0 views

www.fourwinds10.net/...news.php

Banksters Federal-Reserve-Bankster-Cartel assasination murder

shared by Gary Edwards on 02 Nov 12 - No Cached
  • Gary Edwards on 02 Nov 12
     
    Incredible article about the behind-the-scenes story of the nanny murder of two small children in NYC.   First, it's a staged murder meant to send a clear message to ALL media.  The children were the offspring of Kevin Krim, CEO of CNBC digital.  His website had published a story about the Spire Law Group suing an entire class of bigshot BANKSTERS for the theft of $43 TRILLION dollars of tax payer money.  Second, this involves the US Government.  The Spire allegation is that the Feds actively helped and assisted the Bankster theft. Third, the story describes the historical background of these Bankster hits, assassination and threats.  Although not covered in the article, Presidential assassinations in particular have an unmistakable link to Executive Orders that the Treasury print Silver Certificates that would compete against Bankster notes.  In one way or another, it's all about control of the money system.  This list of Presidents includes Jackson, Lincoln, Garfield, McKinley, Kennedy and Reagan. Original Press Release from the Spire Law Group:  ... http://goo.gl/ynV6O .... Wow! ................................... excerpt:: "On 10/25/2012 two corporate financial media bastions,  MarketWatch  (an affiliate of the Wall Street Journal) and CNBC, presented their readers with a bombshell.  In a too-good-to-be-true lawsuit, the top echelons of the USA's banking and civilian government had been sued for "racketeering and money laundering."  The suit requested "the return of $43 trillion to the United States Treasury."  Yes, you've read that right: 43 trillion-roughly 3 years worth of America's GDP or 3 times America's underestimate of its own national debt. The suit characterizes itself, according to these two corporate media tabloids, as the largest money laundering and racketeering lawsuit in United States History.  [It identifies] $43 trillion ($43,000,000,000,000.00) of laundered money by the 'Banksters' and their U.S. r
Gary Edwards

The Daily Bell - Gerald Celente on Multinationalism, Breaking the Chains and Individual... - 0 views

www.thedailybell.com/...ins-and-Individual-Renaissance

gerald-celente Globalist-Elites

shared by Gary Edwards on 04 Nov 13 - No Cached
  • Gerald Celente: As I said, they're in a trap and it's a tapering trap, the quantitative easing trap. They can't keep printing more money because it's going to devalue the currency. And by the way, this is complicated, because it's not only the United States that's doing it; most of the central banks are doing it. China, the Europeans – they're all pumping money into their systems to keep them afloat. They're all in a trap. A time comes when you just can't keep doing it anymore. You can only take heroin so much before it kills you. This is monetary methadone and it's not going to cure the problem so they're going to have to stop. When it stops, that's when we go back into a recession and/or a depression.
  • Is it a depression? Is it a depression if you live in Greece or Spain or Portugal? Is it a depression if you're among the over 12% unemployed in Italy? When you look at John Williams's ShadowStats, in the US we're looking at about 22% unemployment. So yes, it's a depression for a lot of people. And then again, median household income in the US, accounting for inflation, is 10% below 1999 levels. That's a fact. So if you're earning 10 percent less for your family than you were in 1999 and the costs have skyrocketed since then, particularly in healthcare, food, rent, property, gas and other costs, do you think you're living in a depression? Daily Bell: Is central banking an art, a science or just a fraud?
  • Gerald Celente: Neither. It's a criminal operation. Throughout the 1800s, one of the major issues of every presidential election was whether or not to have a central bank. They fought it successfully not to have one until 1913. These are private banks that are running our country and many others. This goes back to the scriptures; it's Christ chasing the moneychangers out of the temple. The moneychangers have just got new names – Deutsche Bank, Societe Generale, Goldman Sachs, JPMorgan Chase, and, of course, JPMorgan Chase got that name because you're going to have to chase them to get your money because they just put a limit on how much you can withdraw or deposit each month in certain accounts, with a limit of $50,000.
  • ...21 more annotations...
  • Daily Bell: It seems like people don't believe in central banking anymore so why does it continue? What holds it up in a so-called democracy where people have a vote? Gerald Celente: Most people don't even know what a central bank is and they still believe the lie that the Federal Reserve is a quasi-government institution when it's not. It's a totally private bank. Most people don't even know that. So most people are uninformed and like in all countries, they follow their leaders. Very few people rebel. There was an incident that happened in late October in the States. Hillary Clinton was speaking in Buffalo, delivering her model for what is required to solve complex problems. There was a heckler in the crowd who she admonished by saying, "... which doesn't include yelling. It includes sitting down and talking." What patronizing bullshit. You know what happened? The audience of 6,500 stood up and gave her a standing ovation that extended on and on. So it's the people. The people can blame the politicians all they want, but as I see it, it's the people's responsibility for the state of their nation.
  • Daily Bell: What's the employment picture like going forward in the US?
  • Gerald Celente: Lower paying jobs, less benefits, more temporary jobs and I think the question at the end is rather than going forward in the US it should be what's going forward in Slavelandia, because that's what it's become. You get out of college and you're an indentured servant. For the rest of your life you have to pay off your debt for your degree in worthlessness, for the most part. There are degrees that are worth something but not a lot of them. Where are you going to work? Name the company – Macy's? Starbucks? You can become a barista. Are they going to start teaching Shipping & Handling 101 in college? What are they going to do? Who are you going to work for? What are you going to do – stock shelves? This is better than slavery because when they had the plantation you had to take care of the slaves. Now you can just use them up and send them home. It's kind of like Bangladesh right here in the good 'ol USA.
  • Daily Bell: How about the rest of the world? Give us a global summary.
  • Gerald Celente: The global summary is this: Everybody can see what happened when the Federal Reserve talked about tapering several months ago. All of a sudden you saw the emerging markets start to crash; they dropped about 11% in a year before the Fed reversed its policy because all the hot, low-interest rate money that was leaving the US was flowing into the emerging markets, where you could borrow the money cheaply. So when they started to talk about tapering the hot money started flowing out of these countries, such as India, Brazil. They were really suffering from it and so were their stock markets. So without the cheap money flowing from the central banks, the entire global economy goes on stall and then it turns negative. You can see what's going on in China now; they're facing a banking crisis. Real estate prices in cities like Shanghai and Beijing have gone up over 20% in a year and no matter how the government tries to deflate it, the housing bubble keeps growing. The banks also have a lot of bad loans they're carrying. Now the Chinese government is trying to restrain that free-flow of cheap money, and what happens to their stock market when they do? It dives and the contagion spreads to other Asian equity markets. They all start dropping. It's all tied to cheap money and when the cheap money spigot begins to tighten up the global economy goes down. As I've made very clear, when the interest rates go up the economies go down – it's as simple as that. They've run out of this game. Compare this with the Great Depression, when it began essentially in 1930. This recession begin in 2008. It's now 2013 – we're only in 1935.
  • Daily Bell: China and the BRICS seem to be making noises about setting up their own monetary infrastructure without the dollar. Will that happen?
  • Gerald Celente: Yes, they are making noise, but reality is another issue, and the currency issue is complicated. The dollar goes down but where are you going to go, the euro? We were talking briefly about what's going on in Europe. There's financial market propaganda boasting that the worst of the eurozone crisis is over. They're bragging that The GDP of Spain was just reported to have gone up 0.1% and they made a big deal out of it. "The recession's over" is the B.S. message. No, the recession is not over! They're cooking the numbers to make a rotten situation look less rotten. In countries like Greece and Spain, youth unemployment is running above 50% and overall unemployment around 30%. The recession continues unabated, and there's absolutely no way out of this and they can't print their way out. Portugal, Italy, Greece, Spain, Ireland are doing terrible – what would anyone substitute euros for dollars? And what other currency choices are there, the yuan? As I mentioned, China has plenty of its own problems. They've been dumping a lot of cash into that society to keep it going. You know what China's greatest fear is? It's not the Spratly Islands or the South and China Sea territorial problems that are going on between them, the Philippines, Vietnam or the Japanese. China's greatest fear is its people. They've got 1.2 billion of them and if they're hungry or not happy there's going to be a lot of problems.
  • Again, what do you substitute the dollar for, Brazil's real or the Indian rupee? Remember, we saw what happened when the hot money started leaving the emerging market countries. The South African rand is also under pressure. The BRIC nations can speak as much as they want and they may have the greatest intention to create another reserve currency, but the fact is their economies are not robust or independent enough to create one at this time. As I said, talk is one thing, facts are another and although the world is less dependent on the dollar it is still by far the major reserve currency of the world and I don't see that rapidly changing unless there's a catastrophe that would cause it to happen. However, over the years, I do expect a new reserve model to develop.
  • Daily Bell: Let's talk about military action, particularly in Syria where Al Qaeda types have been fighting on the side of the US and NATO. Why does the US want to destabilize Syria and what country will be next – Iran? Russia?
  • Gerald Celente: We wrote about this in the Trends Journal going back to 2011. After Libya fell, Syria was the only port that the Chinese and the Russians had in the Mediterranean – the Port of Tartus. And also, Syria's only real ally in that area is Iran and, of course, Hezbollah in Lebanon. So with Syria out of the way there's nothing in the Middle East other than Iran to stop the continued spread of US influence and control in that area. It's really more about that than anything we see – again, having more control over that area for the US to do as it wants, with Iran really being the main target.
  • When President Obama backed off his red line threat and didn't attack Syria that was a tipping point. And, as important, the vast majority of Americans opposed the attack plan. That was a significant statement. The country said it was tired of war – and so are a lot of other nations.
  • Gerald Celente: Again, talk about morality and the recent Amnesty International report that said the United States was breaking international law in its use of drones to kill people that were convicted of nothing in addition to innocent people. How much more immoral could you get?
  • I can tell you how much immoral. How about starting wars in Afghanistan and Iraq – in Iraq with the proof that a war was started that killed at least a half a million people that was started under fake reasons; lies that Saddam Hussein had weapons of mass destruction and ties to al Qaeda. An Afghan war that's the longest war in American history, the war in Libya that they called a time-limed, scope-limited kinetic action that's destroyed the entire nation. You want to talk about immorality? How about the "too big to fail"? The government mandated immoral act of stealing money from the American people to give it to the banks, financiers and favored corporations? They say the fish rots from the head down and that's it; the fish has rotted in America for a long time. It didn't start with Obama. It goes back to Bush, Clinton, and keeps going back. Society gets the message from the top and, as I see it, they're simply following their leaders. For example, if their leader can start wars, rob people, take their money, why shouldn't I? Why should I operate on a moral level when immorality is condoned at the top?
  • Most recently, the United States government, in virtually every fashion of behavior, has been fascist. I don't say that by throwing the word out loosely. It's called the merger of corporate state and powers. It goes back to "too big to fail." Under capitalism there's no such thing. You're not too big to fail; you fail. Big, small, medium, you fail – it's capitalism.
  • Not anymore. You have your money taken from you by government order and it's transferred to the people who are the most favored by those in power. That's the only reason why the stock market keeps going up and why the multinationals are doing so well. That's where the $85 billion a month that the Federal Reserve is using in their quantitative easing is going. Then when you look at the other levels of immorality, as I mentioned, why shouldn't people feel as though they can do anything the government is doing? That's why it just keeps getting worse and worse. It's reflected in the music, the politics, every element of culture – both pop culture and political culture.
  • Under the dictates of the eurozone and globalization, the love of one's culture and pride of nation is denounced as "populism."
  • Daily Bell: Let's talk hard money. Can you give us an update on the price action of gold and silver? How about equity? Where is the stock market headed? We think the big boys are trying to rev it up and go for one last killing. Your thoughts?
  • Gerald Celente: The stock market will continue to rise as long as interest rates stay low. That's the best estimate you could give. They keep all of this quantitative easing that, for example, benefits the big private equity firms. Look what's going on in the United States with Blackstone Group. They own 40,000 homes. Where are they getting the money? Deutsche Bank is loaning them tons of money because they're getting money with overnight rates near zero, and they in turn loan it to the "bigs" really cheaply so it is just another example of what's keeping the whole stock market scam going.
  • As long as the money stays cheap the stock market keeps going up. As the money stays cheap gold and silver go up, and you're seeing gold making a bit of a rebound lately because of, again going back to the employment numbers in the States – there is no recovery, the jobs stink, they're not creating enough jobs. The tapering keeps going on, which is a devaluation of the currency, and quantitative easing continues. As long as money stays cheap gold goes up. Now, gold may go down when quantitative easing and tapering slow down. However, that's only going to be temporary because when that happens the bond market's going to explode, when interest rates go up, there's going to be another financial crisis. My best analysis at this time is the second quarter of 2014. The 'experts' are saying the stock market is booming. It has gone from a 14,000 high in 2007 to mid-15,000 now. Accounting for inflation, the stock market has to be about 15,750 just to be back at the 2007 level.
  • Daily Bell: There are other trends, of course, ones you often mention. You spoke to us last time about the New Millennium Renaissance.
  • Gerald Celente: Back to the renaissance... To me, that's the only thing that's going to change the future. We need a cultural, artistic and moral redevelopment, a restoration. Every issue that we've been talking about so far is based on human behavior and the human spirit – morality or immorality. Until morality is restored and the human spirit rises, nothing's going to change. As I was mentioning before, the fish rots from the head down. If you see the people at the head acting immorally, and from the head all the way down, why shouldn't you or I act immorally? What license do they have to steal that we don't? What license do they have to kill that we shouldn't?
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