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It's the currency - STUPID!  Rating:  Rating
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 Posted: Tue Nov 11th, 2008 12:01 pm
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http://firedoglake.com/2008/11/10/the-federal-reserve-is-refusing-to-identify-the-recipients-of-almost-2-trillion-of-emergency-loans/

Apparently Bernanke, that wonderful bipartisan soul who is so competent and wonderful that everyone in the village thinks Obama should leave him in charge is refusing to identify who got almost 2 trillion dollars of Fed cash. Bloomberg News is suing to find out. Personally I really, really, really want to know. What exactly is Bernanke hiding? Who got the money he doesn't want us to know got the money?

This is money that was loaned in exchange for "collateral", by which we mean "trash no one else but the Fed would buy for anything but cents on the dollar". Barney Frank, embarrassing himself yet again, claims the Fed should keep its clap shut because if people know how bad it is, well, there might be a run. I think Barney's missing the point, as long as people don't know how bad it is, they won't trust anyone who might be borrowing large amounts of money from the Fed with crap collateral, because they don't know how bad it is and they suspect it's really really really bad. As in 10 cents on the dollar bad.

 

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 Posted: Fri Nov 21st, 2008 11:30 am
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Kirwan: We are just over two-weeks into the twilight zone that is the period between the election and the swearing-in ceremonies. This is the last chance we shall have to weigh-in on all the shit that’s coming down, in the process that is defining just how much more of this we’re going to have to put up with in the extension of Cheney-Bush that will be overseen by a different face, but by the same controllers that have been running this show since 1838: “The Rise of the House of Rothschild  “Permit me to issue and control the money of a nation, and I care not who makes its law.” Mayer Amschel Rothschild, 1838
 

http://www.informationclearinghouse.info/article21285.htm

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 Posted: Sat Nov 29th, 2008 06:37 pm
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http://press.freelakotabank.com/aboutfreelakotabank.php


Money is made possible only by those who produce.

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 Posted: Wed Dec 3rd, 2008 01:03 pm
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http://www.venezuelanalysis.com/news/3994

quote:

Chávez also said the ALBA member countries must construct their own solutions to the world financial, food, and ecological crises. “We are not going to wait here with our arms crossed for the World Bank or the International Monetary Fund (IMF) to come and solve the problems for us,” said Chávez. “We have things to say, the South also exists.”

“We will leave the Inter-American Development Bank and we will make our own bank, a bank that we ourselves manage,” said Chávez. “Can anyone imagine that the solution will come from Washington, from those who generated the crisis?”

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 Posted: Mon Feb 23rd, 2009 11:31 am
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http://news.goldseek.com/GoldSeek/1234543800.php

Here is a list of 6 states (4 in the last month) and (2 states today) that have pending legislation to authorize the use of gold and silver to settle debts with its citizens and to provide them the legal means to avoid the devaluing of the dollar by having a parallel currency in light of massive bailouts and to protect them in the event of the dollars failure.

 

Think in terms of how competition causes prices to drop while quality increases. The opposite occurs (higher costs and lower quality) when no competition is allowed to compete. If the law passes, then the dollar will either increase in quality (decrease cost) or the dollar will fail to compete and the "parallel currency" will win the competition.

 

Why would anyone choose a higher cost and lower quality product if that product is on the same shelf as a lower cost and higher quality product?

 

 

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 Posted: Thu Mar 19th, 2009 10:44 am
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http://www.youtube.com/view_play_list?p=4F0FC0AC39B3086A

MATHEMATICALLY PERFECTED ECONOMY
mike montagne explains his 1979 thesis of inherent monetary failure under the world's central banking systems... versus mathematically perfected economy (perfecteconomy.com).

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 Posted: Sat Mar 21st, 2009 11:10 am
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http://informationclearinghouse.info/article22247.htm

When Benjamin Franklin was called before the British Parliament in 1757 and asked to account for the prosperity in the American colonies. He replied, "That is simple. In the colonies we issue our own money. It is called Colonial Scrip. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers. In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one."

It was the struggle for financial sovereignty that precipitated the American Revolution when the (Rothschild) Bank of England forced the colonies to give up their Scrip and intense poverty followed.

That war never ended.


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 Posted: Mon Mar 23rd, 2009 09:03 am
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http://informationclearinghouse.info/article22273.htm

The international bankers have succeeded in doing more than just controlling the money supply. Today they actually create the money supply, while making it appear to be created by the government. This devious scheme was revealed by Sir Josiah Stamp, director of the Bank of England and the second richest man in Britain in the 1920s. Speaking at the University of Texas in 1927, he dropped this bombshell:

The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin . . . . Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again. . . . Take this great power away from them and all great fortunes like mine will disappear, for then this would be a better and happier world to live in. . . . But, if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit.


 

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 Posted: Mon Mar 23rd, 2009 09:29 pm
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http://www.timebanks.org/

quote:

Time Banks Weave Community One Hour at a TimeFor every hour you spend doing something for someone in your community, you earn one Time Dollar. Then you have a Time Dollar to spend on having someone do something for you. It's that simple. Yet it also has profound effects. Time Banks change neighborhoods and whole communities. Time Banking is a social change movement in 22 countries and six continents.

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 Posted: Wed Apr 8th, 2009 11:45 am
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http://www.usatoday.com/money/economy/2009-04-05-scrip_N.htm

quote:

A small but growing number of cash-strapped communities are printing their own money.
Borrowing from a Depression-era idea, they are aiming to help consumers make ends meet and support struggling local businesses.


A history lesson is in order?

http://www.globalideasbank.org/site/bank/idea.php?ideaId=904

quote:

'The small town of Worgl in the Austrian Tyrol, suffering like every other town in Europe and America from the Great Depression, took the unlikely step of issuing its own currency'


http://www.perfecteconomy.com/pg-parable-of-perfect-economy.html

quote:

"We would have gladly borne the little tax on tea and other matters, had it not been that they took from us our money, which created great unemployment and dissatisfaction. Within a year, the poor houses were filled. The hungry and homeless walked the streets everywhere."

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 Posted: Wed Apr 8th, 2009 08:41 pm
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http://informationclearinghouse.info/article22371.htm

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 Posted: Sun Apr 12th, 2009 11:31 am
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http://informationclearinghouse.info/article22391.htm

Lincoln succeeded in restoring the government's power to issue the national currency, but his revolutionary monetary policy was opposed by powerful forces. The threat to established interests was captured in an editorial of unknown authorship, said to have been published in The London Times in 1865:

"If that mischievous financial policy which had its origin in the North American Republic during the late war in that country, should become indurated down to a fixture, then that Government will furnish its own money without cost. It will pay off its debts and be without debt. It will become prosperous beyond precedent in the history of the civilized governments of the world. The brains and wealth of all countries will go to North America. That government must be destroyed or it will destroy every monarchy on the globe."
In 1865, Lincoln was assassinated. According to historian W. Cleon Skousen:

"Right after the Civil War there was considerable talk about reviving Lincoln's brief experiment with the Constitutional monetary system. Had not the European money-trust intervened, it would have no doubt become an established institution."
The institution that became established instead was the Federal Reserve, a privately-owned central bank given the power in 1913 to print Federal Reserve Notes (or dollar bills) and lend them to the government. The government was submerged in a debt that has grown exponentially since, until it is now an unrepayable $11 trillion. For nearly a century, Lincoln's statue at the Lincoln Memorial has gazed out pensively across the reflecting pool at the Federal Reserve building, as if pondering what the bankers had wrought since his death and how to remedy it.


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 Posted: Mon Apr 20th, 2009 11:01 am
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http://www.brasschecktv.com/page/604.html

The Best way to rob...

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 Posted: Tue Apr 21st, 2009 09:08 am
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We can go two ways from here, one leads to greater prosperity and the other leads to greater misery, greater suffering, more work, less benefit, higher costs, harder, harder, and even harder life.

I say that we can go two ways from here and when I say that we can go two ways from here I specifically mean that people who do not plan on injuring innocent people can go two ways from here and I don’t mean that people who plan on injuring innocent people can go two ways from here, because people who plan on injuring innocent people have already chosen the way to greater misery.

We are the people who plan on avoiding injury to innocent people, we are the people who prefer to aid and help injured innocent people, and we can’t help anyone unless we are powerful enough to survive ourselves. We can NOT go on “helping” the people who plan on injuring innocent people much longer.

I know that many people reading this will reject this process of thinking. Many people will begin reading this and they will begin the process of rationalization instead of thinking. This is a palpable, and a measurable problem. Each person who does this is another person who adds to the palpable and measurable problem, with each rationalization and each choice to avoid the process of thinking.

This juncture that we are approaching and this place where thinking will occur and choices will be made is a place where we can choose prosperity, because we want it, because we need it, and because we will, by our power: prosper. This juncture is upon us, past us, and always under our noses, always approaching, always near, always ready, so long as we have the power to see it, and so long as we have the power to decide to take the prosperous path; without injuring any innocent people in the process.

The process must include that qualifier at the end of that last sentence written above, if the idea is to prosper. If the idea is not to prosper, if the idea is to gain at the expense of some innocent victims, then now is a good time to accurately identify between the two choices, now is as good a time as any to discriminate between prosperity at the expense of no one and the other path, now is a good time to judge between right and wrong, and now is not the time to ask someone else to process this decision, this choice, and this work, now is not the time to pass on this cost to some nebulous higher authority.

One choice leads to misery, and the other choice leads to prosperity. Failure to make the right choice is going to cause the wrong result. Many readers of this message will ignore this message. Many others will read similar messages and ignore those similar messages. That is an example of ignorance. That is an example of passing on the costs of thinking about where we are and what must be done at this juncture.

Blind obedience will be the result of the failure to know where we are and failing to make the right choice at this juncture. I know that some people, or perhaps only one person, will read this message and begin to process the necessary information required to make the right choice, the right next choice, and the right choices that follow one after the other from this point on.

Will the next choice injure some innocent person or will the next choice avoid injuring anyone? Where are you at, what choices do you have before you, are you following a path to prosperity or are you following a path of misery. Are you littering your path with victims or has your path grown more and more prosperous?

Is it time to choose a different path, before that choice is no longer possible?

Please see how this works in reality. The path where costs are passed-on to innocent people is the path to misery as power flows from the victims to the people who are on this path; again, this path is where costs are passed onto innocent people. The other path is the path to prosperity, where no costs are willfully passed onto innocent people on purpose for profit.

The choice is never in the hands, within the power, of the innocent victims. The choice must therefore be a choice that is in the hands and within the power of the people who create those costs. Please understand how this works now, before it is too late to abandon this path, make this informed change of course now, so as to prosper instead of traveling down a continued existence that is earned at the expense of innocent victims.

Each step offers a choice. Which choice is the right choice? How can you know if your mind is closed?

http://www.globalresearch.ca/index.php?context=va&aid=13239


quote:

“Allow me to issue and control a nation’s currency, and I care not who makes its laws.”


“When you understand that the BIS pulls the strings of the world’s monetary system, you then understand that they have the ability to create a financial boom or bust in a country.  If that country is not doing what the money lenders want, then all they have to do is sell its currency.”


Last edited on Tue Apr 21st, 2009 09:28 am by Joe Kelley

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 Posted: Sun Apr 26th, 2009 10:01 am
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http://informationclearinghouse.info/article22490.htm

"The Financial Barbarians at the Gate" with financial economist and historian, Dr. Michael Hudson. Europe; worsening financial situation and indebtedness; the history of banking and the criminalization of the banking system; tax policy; real estate asset inflation; US imperialism via the monetary system; neoliberal/neofeudal economics; classical political economy; finance capital breaking away from industrial capital; the financial crisis leading to a political crisis; similarities with the Roman Republic; what measures labor should take.

 

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 Posted: Fri May 8th, 2009 08:57 am
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http://lewrockwell.com/riggenbach/riggenbach3-5.html


 

And so it was that in May of 1787, “fifty-five […] men of considerable and varied property holdings, ranging from the possession of slaves and lands to investments in government securities and far-flung business enterprises” met in Philadelphia and “resolved to disregard the announced plan of submitting amendments” to strengthen the Articles of Confederation; instead, they decided “to prepare […] an entirely new frame of government.”  Unsurprisingly, this “new frame,” the U.S. Constitution of 1787, gave a new central government

broad and far-reaching powers over the economic life of the nation. […] Congress was given exclusive authority to coin money and to regulate both foreign and interstate commerce.  Thus the stage was set for the abandonment of laissez-faire liberalism and the substitution of a policy of economic nationalism or government paternalism.

 

http://www.merriam-webster.com/dictionary/exclusive

http://uk.encarta.msn.com/encnet/refpages/RefArticle.aspx?refid=761567422

 

President Washington and Secretary Hamilton chose to make a fuss about Western Pennsylvania precisely because in that region there was cadre of wealthy officials who were willing to collect taxes. Such a cadre did not even exist in the other areas of the American frontier; there was no fuss or violence against tax collectors in Kentucky and the rest of the back-country because there was no one willing to be a tax collector.


 

If anyone is wondering what all the links above mean, I can explain. The part above misses two points.

A. Whiskey was a competitor for shares in currency markets.

B. Those "rebels" were called "anti-federalists" when in fact those people were the true federalists (many of them).

So...the first link in this post offers a very good account of truer history (truer than "school" book history), however, the account misses two vital points.

The monopoly on money (legal tender) was the prize in view for Hamilton and the true Fascists (called Nationalists at the time) and their opposition was anyone who could effectively compete in money markets such as whiskey distilling federalists; so the way to eliminate the competition is to use fraud and force.

The fraud part is to label the federalist as “anti-federalists” so as to confuse anyone who may wander into that accumulation of people, the power of numbers, rallied around free money markets and federalism (socialism, liberalism, individualism, anarchism, the left, or any voluntary association-ism).

The violence part was a “conscripted” army created by the promise to punish anyone who refused to march against and destroy the whiskey competitors in money markets, those federalists who were against monopoly money and fascism (nationalism, despotism, the right, and involuntary association-ism).

Why were those two points missed in the link at the top of the page? Those are vital links in understanding the legal crimes committed in history and to this day.

If the Federalists were the first American conservatives, the Jeffersonians were the first American liberals.
 

See the problem?

The "Federalists" were NOT called "The Federalists". The Nationalists (Alexander Hamilton for example) were called "The Federalists". The true federalists (those who were for a voluntary association of separate and sovereign states) where called: "Anti-Federalists".

Socialists who are for “Sovereignty” (free will, voluntary association, no willful injury to innocent people on purpose, etc.) are historically called “Socialists”, however, the word changes meaning over time, BECAUSE someone has an interest in confusing anyone who might wander into that band of people who are for freedom.

Where can someone wander to?

 

Can someone wander toward “socialism” to find freedom?

How can that be possible if the current “Socialists” are really nothing more than legal criminals?

How can a freedom loving peacenik wander toward “Federalism” to find a workable form of government based upon voluntary associations when, in fact, the “Federalists” took over that name, and did so to such a great extent, where even today the people who claim to know “revised” history fail to simplify the principles and interests of which people are which people.

Here is the simple version:

A.     People who plan on and follow through with the plan to association voluntarily and avoid injuring any innocent people in the process

B.     People who plan on and follow through with the plan to injure innocent people.

Take any one in history, an person, and place that person in either A or B, to see if this principled approach can generate any interest toward understanding – eh?


There was also “military conscription, put into practice on a large scale for the first time in American history during the Civil War.”  
That is not true according to sources reporting the effort to suppress the Whiskey Rebellion with a conscripted army.

Please consider the possibility that the source of this “revisionist” history lesson has an interest in preserving his principle source of income – that being the flow of power to him by the creation and maintenance of a money monopoly. That author, of the work linked at the top of this reply, is from the “Austrian” school of economics – where the majority of those people support “The Constitution” and “The Gold Standard” and “Legal Tender”.

Notice how the report misses the connection between Lincoln’s and the money monopoly where President Lincoln financed his war with a competitive currency (competing against the money monopoly of the day). The money monopoly of the day was implicated in the assassination of that president. I think the “Austrians” are the modern day “Federalist” (actually “Nationalists”) with their preference for “The Constitution” and “The Gold Standard” and “Legal Tender”.

Use simple logic please. Who plans on and executes the plan to injure innocent people? How is “The Constitution” enforced? There are two shining examples.

A.     The Whiskey Rebellion

B.     The Civil War

 

Lincoln and Washington planned on and executed their plans to injure innocent people, they just happen to be on different sides of the money monopoly fence.

The “Austrians” (the ones who are most vocal, such as the author of the link at the top of the page) are on the “Constitution”, “Gold Standard”, “Legal Tender” side, the side where people plan on and execute their plans to enforce that money monopoly – if needed.

Does that make sense?

The “opposition” is on the same side. The true opposition does not plan on and then execute the plan to injure innocent people for a money monopoly, not one earned by fraud, not one earned by force of violence, threat of violence, or otherwise. The true opposition allows any form of money to compete in all money markets, because it is the right thing to do, the moral thing, and the economically viable thing to do – because competition increases quality and lowers costs over time.

The experience of the corporate giants in creating cartels and other voluntary cooperative systems with their competitors was that it was impossible to establish and sustain a profitable monopoly in the American economy – unless government could be induced to do it.  So they thereupon set about building popular and political support for government action to create the monopolies they had sought but had been unable to achieve without the use of force. 

 

The money monopoly is not recognized again, as I read this “revisionist” history account.

 
Cleveland did manage to reduce the Republican tariffs, but not before they had played a part in plunging the nation into “the depression of 1893 to 1897, which sunk the Democrats.”
 

Again, no mention of the money monopoly - the hidden elephant in the room - crapping and urinating on everyone.

"It sure stinks in here, I wonder what makes all that stink?"

"I don't know?"

"Do you see that huge grey thing in the room?"

"What thing?"

"Nothing, nothing at all."

But if they were extending the doctrine of liberalism even further, they must have been liberals, right?  They must have been men and women of the Left, not the Right – right?  John Moser reports of John T. Flynn that “[t]o the end of his life he never referred to himself as anything but a liberal […].  Flynn claimed that it was the American political climate that changed during his lifetime, not he.  Indeed, he believed that the very term liberal had been hijacked.”


 

Hijacked?

Why?

Please understand why words are re-defined, why they are misused on purpose.


Next up is a "positive" stream of information while the perceiver keeps in mind the above information - please.

http://www.brasschecktv.com/page/615.html

Note the fixation on "The Founding Fathers" and "The Constitution". Note the irony (if in deed it is ironic) of claiming to "wake up" while supporting a tyrannical document (The Constitution). Please see this for what it is, since The Constitution is like an evil sandwich on liberty bread; where The Declaration of Independence is the first slice of liberty bread and The Bill of Rights is the second slice of liberty bread and in between is the evil (involuntary association) Constitution (outlaws voluntary association).

If those guys (Oath takers, Ron Paul, Alex Jones, and the "Info-warriors") are "positive" and their goal is stated (lied or falsified) to be Liberty while they support an involuntary association (The Constitution), then they become agents of tyranny by fraud or by willful desire depending upon their own level of understanding.

A. They know that The Constitution prescribes Tyranny and the go along with it on purpose.

B. They are tricked into going along with The Constitution because they confuse The Constitution with voluntary associations like The Declaration of Independence and The Bill of Rights.

If the perceiver considers my perception on this to be too critical, too skeptical, or too precise, think please about the old saying: The Devil is in the Details.


http://oath-keepers.blogspot.com/

First up, is the active duty combat arms soldier who sounded off, amazed and outraged that he is considered a threat, and reminding the DHS personnel that they took the same oath that he did, to defend the Constitution.  

Think about this old saying: Those who ignore history are condemned to repeat it, think about that and know that The Constitution authorizes a draft where “draft dodging” is punishable by that “lawful order” that Constitution thing.

Do you think that I am on crack? The fight against The British in the war from 1775 to 1783 was fought and won without a draft and without The Constitution. The “Nation” was then 13 separate and sovereign States, by law, and the law then was a voluntary association called: The Articles of Confederation. Think what you may about the word Confederate but know that The Articles of Confederation did not outlaw voluntary associations and know that The Constitution does outlaw voluntary associations.

I can explain what is meant by “outlaw voluntary associations”. The separate and sovereign states could secede from The Articles of Confederation at any time, it was the law then. Any two States, or three States, or four States, or any number of States could join or leave “The (voluntary) Union” at will. If a State leaves “The (voluntary) Union” it can then make a new voluntary union with another State that leaves “The (voluntary) Union”.

Think about that please. Suppose, for example, that one voluntary union begins to over tax the people, and that same “voluntary” union begins to execute aggressive foreign wars for profit at the expense of innocent victims, and that same “voluntary” union begins to conscript (enslave) an involuntary military army for suppression of rebellions at home. Think about that please.

Can the voluntary union citizens secede from that “voluntary” union whereby the owners of that “voluntary” union become criminal torturers and mass murderers? If not, why not? Why would the owners of the supposedly “voluntary” union outlaw the refusal to be connected to, to associate with, to pay taxes toward, a fraudulent Union? The answer is clearly a need by the legal criminals to out-law people forming “A more perfect union”.

Clearly the need by the legal criminals is to out-law competition. If two states, or three states, or four states, or many states succeed from the criminal union, where torture and mass murder for profit is not only lawful: it is common place, if those states that refuse to be connected to legal crime unite into “a more perfect union”, the fraudulent U.S.A will have to compete with the “more perfect union”.

See?


 

 




 


 

 






Last edited on Sat May 9th, 2009 08:55 am by Joe Kelley

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 Posted: Sun May 10th, 2009 12:32 pm
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http://informationclearinghouse.info/article22581.htm

Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is.

 

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 Posted: Tue May 12th, 2009 01:44 pm
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http://lewrockwell.com/north/north711.html

It is often said that the Federal Reserve System is the lender of last resort. This indicates a misunderstanding of the financial system. The Federal Reserve is the lender of next-to-last resort. Holders of money are the lenders of last resort.

The lenders have no choice. They lend because there are two loan officers: Congress and the Federal Reserve. Congress collects the loans through direct taxation. The Federal Reserve collects it by indirect taxation: inflation.

 

I am making time for commentary on this article before I read the whole thing. Readers can read that whole link, readers can read my commentary, the order of which is read first is up to the reader. I decide to write my commentary first.  

Gary North is a person who may describe himself as a conservative, perhaps not. I describe Gary North as someone who reports facts in such a way as to promote his agenda. The facts are worth reading, the agenda is less worthy – in my opinion. 

My agenda is called Power-Independence, and I make no secret of this fact.

Power produced into a state of oversupply, the more the better, until the limit of power production is reached will cause a political and economic reality of which few people have a desire to imagine. 

Why? 

I can guess the answer and convey that answer to you, to Gary North, and to anyone who lives life based upon moral principle, and anyone who has an interest in preserving productive human life, happy life, on into the foreseeable future and possibly even further. 

The principle behind a lack of interest in finding out just how much power our species can produce is crime. 

That is my guess. 

To further communicate the reasons for my guess I offer a definition for the word I use, that being crime. 

Crime is the pre-meditated employment of brain power toward injury of innocent people and then the willful exertion of physical power to cause those injuries upon those innocent victims. 

Innocence, if you can see what I see, is the state of being where the individual is not encumbered with power draining thoughts of guilt, remorse, and conscience destroying self-loathing. An innocent person is free to think in ways where creativity is possible, more likely, relatively speaking. 

A person who is not innocent is a person who may fear being discovered, being hounded, being punished. How much time and energy (power) is left to access the creative realm of human being? 

The principle behind crime, as far as I can tell, is to create more criminals or, perhaps the flip side of the same coin, the principle behind crime is to eliminate the competition. 

The competition is populated by non-criminals, those innocent ones, the people who access creativity, the ones who produce, and the ones who create value out of stark naked physical reality.  

So much for my mornings rant, I hope readers do read Gary North and I may also find the time to do so.


 While firms and families large and small around the country struggle to obtain financing or refinancing, and with the Fortune 500 companies' earnings down 85 percent on average (the worst performance in the ranking's 55-year history), the banks at the heart of the financial meltdown are beginning to report profits again. Bank of America, which received $45 billion in bailout money, reported $4.2 billion in first-quarter earnings. I'm certainly no financial whiz -- when the economy tanked last year, what money I had was sitting in a checking-savings account -- but who wouldn't be able to show a $4.2 billion profit after getting $45 billion in bailout money? 



 
Next is the part describing how competition in legal money markets is punished, outlawed, or eliminated, (avenged) and how the monopoly, the cartel, or the "insiders" are rewarded (redeemed).

 

In the Mosaic law, there was a peculiar office: the ga'al. The word means "redeemer." This office had two aspects: vengeance and redemption. The ga'al was both the blood-avenger and the kinsman-redeemer. He was the nearest of kin. When his closest relative was killed because of an alleged accident, the blood-avenger was legally allowed to pursue the suspect and kill him. The only way for the suspect to escape vengeance was to flee to a city of refuge. There, he would be tried by a court. If he was convicted of what we call manslaughter or criminal negligence, the ga'al could not legally kill him, unless he caught the man outside the gates of the city. He went completely free upon the death of the high priest (Deut. 19).

The ga'al also had the responsibility of buying his nearest of kin out of slavery, if the kinsman went into slavery because of forfeiting on a debt (Lev. 25:48–49). A central bank is the unofficial ga'al of the fractional reserve banking system. It is an agency of vengeance. It pursues those banks and would-be banks that offer loans that are more competitive than the banking cartel has established through the central bank. It is also the agency of redemption. When a big bank gets into a crisis because of its pyramiding of debt, the central bank redeems that bank.


 

Last edited on Wed May 13th, 2009 12:43 pm by Joe Kelley

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 Posted: Tue May 19th, 2009 01:53 pm
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Joe Kelley
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http://informationclearinghouse.info/article22643.htm

THE 19th century was dominated by the British Empire, the 20th century by the United States. We may now be entering the Asian century, dominated by a rising China and its currency. While the dollar’s status as the major reserve currency will not vanish overnight, we can no longer take it for granted. Sooner than we think, the dollar may be challenged by other currencies, most likely the Chinese renminbi. This would have serious costs for America, as our ability to finance our budget and trade deficits cheaply would disappear.

 

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 Posted: Mon Jun 1st, 2009 08:38 am
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Joe Kelley
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http://www.youtube.com/watch?v=8ckeqIoZz9c

The News Stops with Making Bucks

 

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