They didn’t want information this time they wanted cash.
Many have predicted that the dollar will eventually fall and this short documentary continues that philosophy. The guys who put this together also claim to have the know how on how to combat this oncoming crisis. I don’t know about that claim but this video should provoke some thought on where our financial system is heading.
Enough Mimi posts for the week. Time for some knowledge. You wanna learn some valuable lessons about the greatest country on Earth? Sit back and watch this video and open your eyes to how international bankers and the privately owned Federal Reserve control this government and how it has been orchestrated by the Rothschilds. This video is some years old but rings true to today without a doubt. Everything spoken in this video is 100% the truth whether you want to accept it, or ignore it.
You might not agree with their methods but they have hit this right on the head in the video below. Huff Post also has an interview with a relatively new member of Anonymous that is really brief, but informative nonetheless.
via Huff Post
Anonymous was going after the Federal Reserve. Even for a group that essentially set off a series of attacks that brought the multinational giant Sony to its knees in April, this seemed like awfully big prey. Yet if you doubt the group’s ability to do damage to a powerful adversary, you probably don’t realize that it’s already landed big blows against some pretty sizable opponents – to begin with, Sony, and MasterCard, and Iran. Or that its members recently broke into the website of HBGary, an internet security firm whose CEO threatened to out Anonymous members, and published 50,000 internal emails and the CEO’s social security number, humiliating him into resigning from the company.
via Current TV
Even though no one on Capitol Hill is talking about it, unless it is stopped, the provisions of The Real ID Act of 2005 (Public Law 109-13, 119 Stat 392), through the Department of Homeland Security, will require the federalization of State-issued driver’s licenses by May 11, 2011.
In honor of the trillion bucks the Fed just pressed up, we surfed the net and found some visuals to put into perspective what a “trilli” actually looks like. What we found was staggering.
$10,000: Ten stack is a lil’ under 1/2 inch thick
$1,000,000: A MILLI weighs 22 lbs. and fits in a nappy
$100,000,000: 100 MILLION weighs a TON!!
$1,000,000,000: A BILLION is ten pallets of BIG FACE BENJI’s
$1,000,000,000,000: A TRILLION DOLLARS can fit on a Aircraft Carrier!
via Web of Debt
“We make money the old fashioned way. We print it.”
– Art Rolnick, Chief Economist for the Minneapolis Federal Reserve Bank
The $700 billion that was arm-twisted from Congress by Treasury Secretary Hank Paulson in October was evidently just the camel’s nose under the tent. According to a November 24 Bloomberg report, the Paulson/Bernanke team is now prepared to pay $7.76 trillion to rescue the financial system. Prepared to pay how? Congress has not raised its debt ceiling to anywhere near that level; but the approval of Congress, which originally voted down the controversial $700 billion bailout, is apparently no longer necessary. The door has been opened, and the Treasury Secretary and Fed Chairman feel they can now pledge whatever they want. Perhaps they are inching up a zero at a time just to see what the public’s tolerance is for unrepayable debt.
The new sum – $7.76 trillion – represents $25,000 for every citizen in the country, or half the value of everything produced in the nation last year; yet it’s not clear that a mere half of our net worth will rescue the financial system. One bankrupt bank after another has been bailed out with public money, in a futile effort to prevent a collapse of a massive multi-trillion dollar derivatives pyramid created by the banks. But according to the Comptroller of the Currency, U.S. commercial banks now carry over $180 trillion in derivatives on their books. The public is liable to be bankrupted before this mess is resolved.
On top of the $700 billion initially extorted from Congress, an additional $2 trillion in loans and commitments has already been made by the Federal Reserve and the Treasury. Yet that wall of money has not kept the imperiled banks from collapsing. Citigroup was one of the nine lucky recipients of Paulson’s largesse in October, when he set out to recapitalize the banks by trading dollars for shares. The bank received $25 billion from the Treasury; yet this handout was insufficient to keep its stock from dropping below $4 a share. Citigroup was then bailed out by the Treasury to the tune of another $20 billion, along with a commitment to guarantee $306 billion in toxic assets on its books. That equals half the $700 billion bailout, just for one bank; yet Citigroup’s books, which sport derivative bets of $37 trillion, won’t look much better than before. Continue reading
via Times Online
Barack Obama defended his decision to pack his new Cabinet with veteran Washington insiders and former Clinton officials yesterday after a campaign in which he promised change.
The President-elect responded after naming the former Federal Reserve chairman Paul Volcker, a veteran of the Carter and Reagan Administrations, as the head of a new economic panel to stop “groupthink” infecting his inner circle of White House financial advisers.
There have been mounting concerns, particularly from the liberal wing of his Democratic Party, that Mr Obama has pivoted sharply to the centre-right with his choice of top Cabinet posts.
His main economic advisers have close ties to the Clinton White House and Mr Obama has already chosen Hillary Clinton to be his Secretary of State. His chief of staff, Rahm Emanuel, once served Bill Clinton, and more appointments still to be announced will include a slew of officials who served in the most recent Democratic Administration.
“What we are going to do is combine experience with fresh thinking,” Mr Obama said at his third press conference in as many days. He said he would be foolish, at such a “critical time in our history”, to pick people who “had no experience in Washington whatsoever”.
He added: “What I don’t want to do is somehow suggest that because you somehow served in the last [Clinton]administration you are barred from serving again.”
Mr Obama said he was forming an economic recovery advisory board, with Mr Volcker to head it, to give independent economic advice from outside the White House. “Sometimes policymaking in Washington can become a little bit too ingrown, a little bit too insular,” Mr Obama said. “The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking.” Continue reading
via UK Telegraph
The bank said the damage caused by the financial excesses of the last quarter century was forcing the world’s authorities to take steps that had never been tried before.
This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.
“They are throwing the kitchen sink at this,” said Tom Fitzpatrick, the bank’s chief technical strategist.
“The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.
“Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don’t think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes,” he said. Continue reading
Nov. 10 (Bloomberg) — The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.
“The collateral is not being adequately disclosed, and that’s a big problem,” said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. “In a liquid market, this wouldn’t matter, but we’re not. The market is very nervous and very thin.” Continue reading
WASHINGTON/PHILADELPHIA (Reuters) – Goldman Sachs and Morgan Stanley were granted approval on Sunday to become bank holding companies regulated by the U.S. Federal Reserve, effectively killing off the investment banking model that has dominated Wall Street for more than 20 years.
The move enables Goldman (GS.N: Quote, Profile, Research, Stock Buzz) and Morgan Stanley (MS.N: Quote, Profile, Research, Stock Buzz) to take deposits, gain easier access to financing and gives them more flexibility to buy retail banks. It was initiated by the only two big and independent U.S. investment banks left after the failure of Lehman Brothers LEHMQ.PK and the agreed takeover of Merrill Lynch (MER.N: Quote, Profile, Research, Stock Buzz) last week.
The change, part of a wrenching transformation of the Wall Street landscape amid financial markets turmoil in the past two weeks, means that previously freewheeling firms will be subject to much tighter regulation by the Fed, including tough capital requirements. Continue reading
On the day following the 221st anniversary of the signing of the U.S. Constitution, WTP Chairman and constitutional activist Robert Schulz today filed a federal lawsuit in United States District Court in Albany seeking to halt the execution of the emergency bailout of American International Group, Inc. (AIG) by the United States Government and the Federal Reserve.
The lawsuit asserts that the commitment of public funds and credit for the direct benefit of privately owned AIG is an ultra vires action by the United States Government and Federal Reserve, i.e., beyond the limited legal authority granted by the Constitution. The lawsuit asks for a “show cause” hearing demanding that the Government produce evidence of its legal authority to commit public funds for such a purpose, as well as emergency and permanent injunctions halting the bailout transaction.
Beyond the Constitutional deficiencies, the bailout establishes a dangerous precedent enabling the Fed and/or Government to nationalize virtually any business or property within the United States without legal authority or congressional approval. Continue reading
To get Greenspan, who is usually notoriously unexpressive to issue a dire warming, things are REALLY up sh*t’s creek. The blinders are off at this point, so whovever doesn’t take heed to the signs, well…
The United States is mired in a “once-in-a century” financial crisis which is now more than likely to spark a recession, former Federal Reserve chief Alan Greenspan said Sunday.
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States. Continue reading