Bankers Caught Planning a Depression!

American Bankers Association memo, 1891

"We are authorizing our member banks from the Western States to loan on properties, monies repayable by September 1st, 1894. On Sept, 1, 1894, we will not renew our loans under any consideration.

On Sept. 1st we will demand our money. We will foreclose and become mortgagees in possession. We can take two-thirds of the farms west of the Mississippi, and thousands of them east of the Mississippi as well, at our own price... We may as well own three-fourths of the farms of the West and the money of the country. Then the farmers will become tenants as in England ..." -- 1891, American Bankers Association, as printed in the Congressional Record of the United States April 29, 1913

There's More:

As seen above, banksters have actually been caught boasting about their abilities to cause recessions and depressions and how they can steal property from borrower-citizens. This criminal racketeering has been going on for generations and is embodied today by the depredations of the privately owned US Federal Reserve Bank.

The private issuance of a nation’s money has given tremendous power to central bankers, a power so great that even democratically elected governments are subservient to them as the US government is today. The US Government is not in control of the economy; it is the all-powerful Federal Reserve Bank who create the money, determine interest rates, and decide who gets loans and who doesn’t. Republican Ron Paul says the Fed is more powerful than Congress and the President has no control over the Fed.

Thomas Jefferson, keenly aware of the dictatorial power of private central banks, was instrumental in having Congress decline to renew of the charter of the First Bank of the United States in 1811.

The Super Rich banker, Nathan Rothschild, operating from London in 1811, threatened the young United States with war and financial disaster if the bank’s charter were not renewed. The charter was not renewed and, sure enough, the United States soon found itself embroiled in the War of 1812, with all its attendant loss of life and financial difficulties.

Such is the alarming supremacy of rapacious international banksters. In fact, Nathan's father, the founder and patriarch of the Rothschild financial dynasty, said, "I care not who makes the laws of a nation, as long as I issue and control its money!" To this day, the Rothchilds continue to dominate the central banks of the world, including an ownership interest in the US Federal Reserve Bank.

Getting back to our history, to restore financial normality, President Madison granted a 20 year charter to a new central bank in 1816, the privately owned Second Bank of the United States. But then, in 1828, along came another president who shared Jefferson’s great distrust and opprobrium for central banks and banksters, one Andrew Jackson, a former army general known affectionately as ‘Old Hickory’, a national hero of the War of 1812.

Jackson refused to renew the charter of the Second Bank of the United States, even vetoing Congress who had approved its renewal. Nicholas Biddle, president of the bank, threatened Jackson that he would inflict a recession on the country if the president did not lift his veto on the charter renewal. Jackson still refused. Biddle, true to his word, called in bank loans and refused to issue new loans. The supply of money in the United States shrank dramatically, precipitating a recession.

Soon, Biddle’s engineered recession enveloped the whole country. Businesses failed and unemployment rose. But ‘Old Hickory’ would not surrender to the banksters, even after a would-be assassin, an Englishman called Richard Lawrence, attempted to murder him in January, 1835.

Both the assassin’s pistols misfired and legend has it that ‘Old Hickory’ then proceeded to thrash the man with his cane until restrained by his own aides. Jackson himself blamed the Rothschilds for the attempt on his life. In any case, the determined Jackson prevailed over the bank and its charter wasn’t renewed; it would be some 77 years before the central banksters could finagle another privately controlled central bank with the establishment of the Federal Reserve in 1913.

Later, in 1934, elements connected to the Federal Reserve had Congressman and Chairman of the Congressional Committee, Louis T. McFadden, (R-Pa) assassinated for his fierce and unyielding opposition to the Fed. He called the Fed, “one 
of 
the 
most 
corrupt
 institutions 
the 
world 
has 
ever 
known,” In 1933, McFadden introduced House Resolution No. 158, Articles of Impeachment for the Feds Board of Governors, the 12 Regional Federal Reserve Presidents among others. McFadden was a former bank president and knew how the rigged game was played.

"Whosoever controls the volume of money in any country is absolute master of all industry and commerce in that country. And when you realize that the entire system is very easily controlled one way or another by a very few powerful men at the top, you will not have to be told how periods of inflation and depression originate. President James Garfield, Assasinated, July 2, 1881
r
For details on the formation and ownership of the Fed and the banker's plans to reduce American Citizens to serfs or peons, see Edward Griffin's "The Creature From Jekyl Island"

Thomas Jefferson's View of The Federal Reserve Bank

Jefferson said, “If the American people ever allow private banks to control the issue of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their fathers conquered.”

Wow! Did he nail it? nearly 150 years before the creation of the Federal Reserve Bank, he foretold its creation and the disasterous consequences.

Fortunately, I can subordinate my feelings on the slavery thing and give the man my highest accolades for his prescience; sort of like appreciating a fine cognac from a broken teacup.

Note the part about "deprive the people of all property until their children wake up homeless.."

The Fed is busy issuing "money" Trillions of dollars in Federal Reserve notes which we, our children and grandchildren will have to pay back, along with Billion in interest, (hmmm isn't it odd that one part of the Federal Government could legally bind another part to pay it interest?) as well as scoffing up other assets, like the two prime divisions of AIG it just picked up, while 1 in 50 children are homeless and tent cities of the homeless are growing more plentiful every day.

Economists Agree, Bailouts Suck Money From Taxpayers to Fed!

We have been saying that the major banks and AIG are insolvent, that the securities they carry on their books are wishfully overpriced, even if they have gotten the Accounting Standards Board to go along and ease up on the Mark to Market valuation requirements.

These banks and others like insurance companies and AIG, despite what Bernanke says (what would you expect the Fed to say?) are zombies, or more accurately, Parasites, Sucking up taxpayer dollars which are Graciously loaned to us by the FED to be paid to the banks that own the FED! Talk about double dipping.

In other words these Parasites are draining their host, the American taxpayer, while enriching their owners; the European bankers that own the Fed, the ones responsible for the coming 2nd Great Depression.

Here is what several prominent economists from Harvard and Princeton are saying:


April 9th 2009:

Many prominent economists--including such diverse types as Anna Schwartz and Paul Krugman--have taken with this official view, saying the government was mistaking a solvency crisis for a liquidity crisis. This latest paper effectively demolishes the "fire sale" view. It draws three important conclusions.

* Many banks are now insolvent. "...many major US banks are now legitimately insolvent. This insolvency can no longer be viewed as an artifact of bank assets being marked to artificially depressed prices coming out of an illiquid market. It means that bank assets are being fairly priced at valuations that sum to less than bank liabilities."

* Supporting markets in toxic assets has no purpose other than transferring money from taxpayers to banks. "...any taxpayer dollars allocated to supporting these markets will simply transfer wealth to the current owners of these securities." (the owners of the FED!)

* We're making it worse. "...policies that attempt to prevent a widespread mark-down in the value of credit-sensitive assets are likely to only delay – and perhaps even worsen – the day of reckoning."

You can read the whole paper by Harvard's Joshua Coval and Erik Stafford and Princeton's Jakub Jurek here: http://www.businessinsider.com/insolvent-banks-and-imaginary-fire-sales-2009-4 Warning, it is an Academic paper!

The striking conclusion is that the low prices of toxic assets actually reflect the fundamentals,In short, the government cannot save the banks by improving liquidity or changing mark to market rules because the problem isn't illiquidity or accounting.

The problem is that highly leveraged financial firms own assets that are worth far less than they thought they would be, and the firms are insolvent as a result.

This is why the latest bailout plans secretly give huge subsidies to banks--because the only way to keep the insolvent zombies afloat is to transfer billions of dollars to banks, bank stockholders, and bank creditors.

The alternative--allowing the insolvent banks to fail, seizing the assets, wiping our shareholders, giving bond holders a serious haircut--is still not on the official agenda. (And will never be, as long as the Fed can hold out!)

See also: http://silverpros.blogspot.com/2009/04/what-would-happen-if-your-life.html

Who Are the "Primary Dealers of the Fed?"

When the European Bankers created the Federal Reserve in 1913, they did not want to leave even crumbs on the table. They wanted it all.

They Create money by having the US Treasury issue interest bearing (this interest is what constitutes the National Debt!) Treasury notes and bills which the Fed then "buys" with money they created out of thin air, which though patently counterfeit, is blessed by the US Congress as Legal Tender, meaning that it can be used to pay US income taxes. This borrowed money is what the US government runs on. It is unconstitutional as the Constitution says that only the US government can "coin money."

What most people do not know is that the Fed then anointed the very financial institutions the Bankers owned and controlled to be the "primary dealers" through which they buy and sell the Treasuries! This unnecessary expense and great profit to them is lumped into the amounts we have to pay.

Although some of the institutions have changed over the years, there are still Primary dealers who, on behalf of their Owners, collect brokerage commissions on every dollar put into circulation by the Fed/Treasury, adding insult to injury!

Not only do we, the people have to pay interest on every single dollar in circulation, (look at every bill in your wallet, what does it say above The United States of America?) we have to pay a brokerage fee when the money is loaned to us!

The income tax we pay is actually the interest income to the Federal Reserve on their loans!

Here is a current (March 2007) list of the Primary Dealers:

BNP Paribas Securities Corp.
Banc of America Securities LLC
Barclays Capital Inc.
Bear, Stearns & Co., Inc.
Cantor Fitzgerald Co.
Citigroup Global Markets Inc.
Countrywide Securities Corporation
Credit Suisse Securities (USA) LLC
Daiwa Securities America Inc.
Deutsche Bank Securities Inc.
Dresdner Kleinwort Wasserstein Securities LLC.
Goldman, Sachs Co.
Greenwich Capital Markets, Inc.
HSBC Securities (USA) Inc.
J. P. Morgan Securities Inc.
Lehman Brothers Inc.
Merrill Lynch Government Securities Inc.
Mizuho Securities USA Inc.
Morgan Stanley Co. Incorporated
Nomura Securities International, Inc.
UBS Securities LLC.

Incidentally, most of these institutions are stock holders in the Federal Reserve Bank. They are the real owners of the Fed!

You will notice the names of foreign firms on the list. The European Bankers, especially the Rothchilds, the real richest family in the world; own or control All of the Central Banks in the Western Hemisphere and probably of the World!

Of course Lehman is no longer there and perhaps also Bear Sterns but you can bet they will anoint another deserving firm.

The Financial System of this country is rotten to the core and will continue to enslave us, by controlling our money supply and cost, until we wake up and do something about it.

Please comment on these postings. Only through vigorous debate will the truth become known. Thank you and please follow me if you are not already to keep up to date with more info as it becomes available. http://BillYoungOnTwitter.com

The Fed Has Now Put Us in a Noose!

The Fed is now moving in for the Kill!

Pick up assets on the cheap, like the two AIG Subs while strangling us with staggering debt. While the Pin Heads are arguing with Obama over deficit spending, the only proven way out of a Deflation, the Fed Forces $2 Trillion more in debt onto the American People with their bogus "purchase" of Treasury bonds and Mortgage backed securities. You do realize that they "buy" the debt, the bonds that we have to repay with interest with imaginary money, that they just create out of thin air, don't you?

How would you like to be able to "buy" Billions of dollars worth of interest bearing bonds when you have a zero balance in your bank account? The interest on those bonds will be added to the National Debt and repaid by our grandchildren's grandchildren, if ever.

Don't you find it amazing that the government could owe money to itself? Or that one part of the government would pay Billions in commissions to buy bonds from another part of the government as the Treasury Dept does when it "sells" the treasury bonds to the Fed?

The answer of course is that the Federal Reserve Bank is as Federal as Federal Express (sorry if you heard that joke before!) I call it the Fake Reserve Bank. It is owned by a cabal of European Bankers, operating through their Wall St Puppets in this country. It is the Principan Dealers who earn the commission on the sales of the treasuries through the Feds Open Market Committee.

The European Bankers own or control most of the Central Banks around the world. They have engineered "Panics" as they were called in the 19th Century, recessions and Depressions for hundreds of years. Their aim is to cause massive financial failures so that they can come and scoop up the "failed" assets at give away prices.

This, however seems to be the Big One as Red Foxx used to say on Sanford and Sons, the TV series. It appears to be a coordinated, world wide Depression. I believe their aim this time is to bring on the New World Order under which they will directly control the world's money and therefore control everyone and everything in the world that relies on money.

Both the European Union with its Euro and the still hush hush North American Union, already signed into existance by George Bush, with its new currency, the Amero, were steps in that direction.

The World's Central Bank is already in existance, the Bank for International Settlements. We probably have a couple of years before the Depression peaks and the solution, the New World Order is put forth as the only alternative to save the world, this is their MO. This is how the Federal Reserve Bank was foisted on the US in 1913 in response to the Banker engineered Panic of 1907; which is unconstitutional on its face, as the issuance of money was granted solely to the US government by that document.

I have a couple of excellent resources for those skeptics who may think, as one put it, I wear tin foil hats and receive messages from outer space. If are not afraid of the truth, I advise you to look into thim matter: The Money Masters-How the European Bankers Gained Control of the United States of America http://tw0.us/bD And Chris Martenson, a PhD who has studied and updated a lot of the historical data on this topic http://www.chrismartenson.com/
Be sure to take his Crash Course.

Be informed. Spread the truth. Ultimately that is the only thing that can stop the destruction of our country!

Oh, and why don't you hear about this from politicians and the media? They are already owned and controlled by the bankers!
w
A

Congressman Chas Linbergh on Fed Creation of "Business Cycles"

Cong Chas Linbergh, (R-MN), father of the famous pilot, on “Business Cycles are Not Natural!”

To cause high prices, all the Federal Reserve Board has to do is to lower interest rates producing an increase in credit and rising asset prices. (Bubble, anyone?)

Then when businessmen are adjusted to the new economy, the Fed tightens interest rates, choking off prosperity in mid career.

It can cause mild swings in the economy (recessions) by making small adjustments in the interest rates or produce wild pendulum like swings (depressions) by making larger increases and decreases in the interest rate.

This is the strangest most dangerous power ever given to any special privileged class by any government ever.

The Federal Reserve Bank is private, conducts its business for the sole purpose of obtaining the most profits from the use of other people’s money.

They know in advance when they will create a panic and can profit greatly from that information. Inflation or deflation work equally well for them since they control the economy.
___________________________________________________________________________________
We will continue to be victimized by the Fed until we take back the power to issue and control our own money. So far, Cong Ron Paul is the only lawmaker courageous enough to call for this. Spread the word so that more people become aware that Greedy, Murderous International Bankers are victimizing the American people and demand an end to it!







Ti

Now, the Fed Swoops in to Pick Up the Spoils!

CNN, 11 Feb 2009 "Administration officials committed to flood the financial system with as much as $2.5 trillion — $350 billion of that coming from the bailout fund and the rest from private investors and the Federal Reserve, making use of its ability to print money." (Money it creates out of thin air, but charges interest on. )

We have seen this play before, The First Great Depression in the 1930's among other debacles.

First, the Fed funds an enormous bubble in some asset class, real estate, stocks, Oil, etc.

That kicks off an irrational exuberance, eg. The Roaring Twenties.

The Fed and its minions stubbornly declare that all is well, there is no reason to worry, the economy has entered a new phase. Gone are bad old recessions once and for all.

Remember as late as 2004 Alan "Double Bubble" Greenspan, Fed chairman said, "Bubble? What Bubble, it is impossible to have a National Bubble in real estate since each market is local!" He also famously said, just a few years prior, A Bubble in the Stock Market? No Way!

Eventually, of course the Bubble implodes, (no tree ever reaches the sky!) resulting in astronomical losses, especially to the poor schnubs who came late to the party.

Public money, (loaned, gratiously by the Fed) is needed to clean up the mess and save Wall St, or the banks from collapsing.

What to do with all those failed assets that people bought for outrageous prices at the height of the boom, with money borrowed from the banks? (read FED)

Well, they must be liquidated, so they set up a Public/Private partnership to get rid of them.

Whether it is the Reconstruction Finance Corporation from the First Great Depression, the Resolution Trust Corporation of the 1980's or whatever Official sounding term they will tag on this one, the result will be the same.

Assets that exploded in price, rank speculation fueled by the Fed, gobbled up investor's funds as their prices soared into the stratosphere. Fun, riches, good times for all!

What the average man did not realize however was that the knowledgeable investor was Selling while he was buying! They made enormous profits.

However, once the inevitable crash took place and values plumeted, the banks that financed the investors had to be saved from all the loans on their books that were now in default!

This called for a tremendous influx of tax payer money. Tax payers took the losses, while the private sector took the profits.

Now, what to do with all of those worthless assets? Let's set up a Public/Private partnership and dispose of them. Back come the bank funded (read Fed) money men to pick up
the troubled assets at fire sale prices! The SCARFF plan. (You know, like the college kids scarff down beer and burgers?)

Here is a real life example:

In 1989, the nation faced a financial crisis caused by the collapse of hundreds of savings and loan associations, who had taken advantage of loosened regulations to invest aggressively in real estate and other ventures, many of which went sour.

Fearing both the size of the bill if the troubled institutions went under (too big to fail!) and the damage such a meltdown might cause to the economy at large, Congress and President George H.W. Bush in 1989 created the Resolution Trust Corporation to take over troubled thrifts, as the banks were known.The mission of the corporation was to dispose of the assets as quickly as possible for maximum value.

In swooped the Fed financed investors who made out like bandits when the economy returned to normal (waiting for the Next bubble!)

So you see the Fed loves economic Panics, as they were called in the last century, they make money when the economy goes up and when it crashes! Is it any wonder they are so keen on causing Panics, Recessions and Depressions?

Taking Worthless Securites from Banks and Putting Them on the Backs of American Workers!

"...moving that heavy load of dubious and worthless paper --out of the banks and putting it on the back of American labor.

That is what the Reconstruction Finance Corporation is doing now. They talk about loans to banks... but they say very little about that other business of theirs which consists in relieving the swindlers who promoted investment trusts in this country and dumped worthless foreign securities into them and then resold that mess of pottage to American investors under cover of their own corporate titles.

The Reconstruction Finance Corporation is taking over those worthless securities from those investment trusts with United States Treasury money at the expense of the American taxpayer and the wage earner."

These excerpts are from Congressional testimony by Congressman Louis T. McFadden during the the First Great Depression. Has sort of a familiar ring to it, doesn't it? Make certain substitutions, such as mortgage derivatives instead of "investment trusts, " and mortgage securities for "foreign securities" and you realize that this has happened before!

The Federal Reserve Bank was neck deep in producing the First Great Depression and it and its minions are equally involved in this evolving, 2nd Great Depression! Substitute the Reconstruction Finance Corporation for the "Bad Bank" being dredged up by Wall st and you will see they want to do the same thing this time that they did last.

Ron Paul Calls for End of Federal Reserve Bank!

Ron Paul, Texas Congressman, Calls for abolishing the Federal Reserve Bank!

"Madame Speaker, I rise to introduce legislation to restore financial stability to America's economy by abolishing the Federal Reserve. Since the creation of the Federal Reserve, middle and working-class Americans have been victimized by a boom-and-bust monetary policy."

You can read the rest of Paul's statement before Congress here:
http://news.goldseek.com/RonPaul/1233818100.php

Apparently, the news was not significant enough to be carried on the Main Stream Media.

This is Explosive! The last Congressman who called for the end of the Federal Reserve, after 3 attempts, was killed! His name is Louis T. McFadden, a Republican from Pennsylvania. He was actually not only a Congressman, he was also the Chairman House Banking and Currency Committee.

You can read his 25 minute Congressional tirade against the Fed in the Congressional Record, pages 12595-12603 or Google it.

As you have seen throughout my writings on this Blog and elsewhere, The Fed, which is as Federal as FedEx, is a Private Bank and was behind the various booms and busts we have suffered through since it was created on the night before Christmas eve, 1913 when only the conspirators were present in Congress. They had sent everyone else home for the holidays, assuring them that a vote would not be taken before 1914.

The owners of the Fed are the richest and most powerful men on the planet, International Bankers, led by the Rothschilds.

The Patriarch of the clan is now Lord Alfred Rothschild of the UK. Look up "The Creature From Jekyl Island" the story of the "Hatching" of the Federal Reserve Plot. It is scarier than anything that Steven King ever imagined, because it it TRUE!

I know it is hard to believe and I am not going to go into detail in this posting, but these people own the banks that own the Fed. Look at this, courtesy of Eustace Mullins, "Secrets of the Federal Reserve" which every American needs to read:

The shareholders of these banks which own the stock of the Federal Reserve Bank of New York are the people who have controlled our political and economic destinies since 1914. They are the Rothschilds, of Europe, Lazard Freres (Eugene Meyer), Kuhn Loeb Company, Warburg Company, Lehman Brothers, ^{Goldman Sachs, the Rockefeller family, and the J.P. Morgan interests. These interests have merged and consolidated in recent years, so that the control is much more concentrated. National Bank of Commerce is now Morgan Guaranty Trust Company. Lehman Brothers has merged with Kuhn, Loeb Company, First National Bank has merged with the National City Bank, and in the other eleven Federal Reserve Districts, these same shareholders indirectly own or control shares in those banks, with the other shares owned by the leading families in those areas who own or control the principal industries in these regions.}

The Kingpin of this group is the Rothschilds, who own or control an empire, including until recently, The Bank of England; Reuters and the Associated Press, of over a reputed $500 Trillion Dollars. Although the Rothschilds are not now a household word, having successfully replaced the Fat, Greedy Banker icon with the Fat Black Welfare Queen as the cause of America's ecomomic woes, their ownership or control of most of the other shareholders, (JP Morgan was Rothschilds direct representative, they are allied with Kuhn Loeb through marriage, etc.) gives them effective control of the Fed and therefore control of everything and everyone in the US that depends on money to survive!

Among the Feds biggest depredations, prior to the current one, was the stealing of the entire gold stores of the US in 1933, when they "Bought" over 200 Million oz of gold, which had been confiscated by Roosevelt, for $11 Billion, which they "created" out of thin air, just for this purpose: "Roosevelt ordered the people to give their gold to private interests- that is, to banks, and he took control of the banks so that all the gold and gold values in them, or given into them, might be handed over to the predatory International Bankers who own and control the Fed. "

Of course, the First Great Depression was their handiwork also, as Ron Paul alludes to above.

I urge you, for the good of yourself and the Nation to follow up on this information. Google Louis T McFadden and Eustace Mullins. If we are to take back our country, it is going to have to be a massive grassroots effort and time is of the essence!