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  • ancavge 1:17 am on October 12, 2010 Permalink | Reply
    Tags: , , , fed, , , , , , , , ,   

    Confirmed: Court Did Rely on Oath Keeper Association to Take Baby 

    link to story:

    http://www.infowars.com/confirmed-court-did-rely-on-oath-keeper-association-to-take-baby/

     

     
  • ancavge 1:12 am on October 12, 2010 Permalink | Reply
    Tags: , fed, , , , , , , , , ,   

    Feds Treat Baby-Snatch Protesters Like Terrorists 

    link to story:

    http://www.infowars.com/feds-treat-baby-snatch-protesters-like-terrorists/

     

     
  • ancavge 2:30 pm on March 4, 2010 Permalink | Reply
    Tags: , , , , , fed, , internet monitoring, monitoring, , , ,   

    Feds weigh expansion of Internet monitoring | Politics and Law – CNET News.

     
  • ancavge 2:50 am on February 23, 2010 Permalink | Reply
    Tags: , , , , , , , fed, , , , income, , , polls, Presidential, , , , , , , ,   

    Ron Paul: Suspend The Income Tax For 3-4 Years 

    Infowars.com
    February 22, 2010

    URL to article: http://www.infowars.com/ron-paul-suspend-the-income-tax-for-3-4-years/



     
  • ancavge 5:51 pm on December 9, 2009 Permalink | Reply
    Tags: , , , , fed, ,   

    High-stakes duel between Rep. Paul and Bernanke intensifies 

    Silla Brush
    The Hill
    December 9, 2009

    • A d v e r t i s e m e n t
    • efoods

    Rep. Ron Paul and Ben Bernanke are locked in a clash of titans.

    Paul, the 74-year-old House libertarian from Texas with the high-pitched voice, has fought for decades to kill off the Federal Reserve.

    Bernanke, the mild-mannered ex-Princeton professor and chairman of the bank, is waging a high-stakes battle for the Fed’s reputation. And he’s doing everything possible to knock out Paul.

    The fight is still in the early rounds. But with the full House expected to vote this week to give government auditors more power to scrutinize the Fed, Paul has the upper hand.

    The Senate is a much more difficult round for Paul, though a similar stew of liberal and conservative support is starting to simmer in the upper chamber behind the Republican’s wonky auditing measure.

    Read entire article

    URL to article: http://www.infowars.com/high-stakes-duel-between-rep-paul-and-bernanke-intensifies/

     
  • ancavge 7:10 pm on December 3, 2009 Permalink | Reply
    Tags: , , , , , fed, , Sen. Sanders   

    Sen. Sanders Attempts to Block Fed Mob Boss Second Term 

    Kurt Nimmo
    Infowars
    December 3, 2009

    Let’s thank Bernie Sanders, Vermont Independent, for blocking for now the re-confirmation of Ben Bernanke to the Federal Reserve.

    Sanders talks about removing Fed kingpin Bernanke.

    At the same time, we need to correct Sanders’ critique of the Fed.

    “The American people overwhelmingly voted last year for a change in our national priorities to put the interest of ordinary people ahead of the greed of Wall Street and the wealthy few,” Sanders wrote in a statement. “What American people did not bargain for was another four years for one of the key architects of the Bush economy.”

    Sander also said the Fed could have averted the financial crisis but failed to perform its “core responsibility” and because of this it’s time for Bernanke to go.

    In fact, the Fed is performing its “core responsibility.”

    Mr. Sanders apparently believes the Federal Reserve is part of the government when in fact it is a bankster criminal organization masquerading as a federal agency. The Fed is not federal. It has no reserves. It is not a bank. It was created in 1913 by agents of J.P. Morgan, John D. Rockefeller, and European bankers to take over the U.S. money supply and monopolize the banking system.

    • A d v e r t i s e m e n t
    • efoods

    Our current economic problems are directly related to the fact the Federal Reserve, the World Bank, and the IMF are allowed to create money out of thin air and create global inflation. Like the corrupt government of Zimbabwe, these criminal organizations create funny money out of nothing. It is a parlor trick accomplished by entering numbers in a computer.

    Sanders blames the Bush administration for the economic crisis. It does not matter if a Republican or Democrat is in office. Federal Reserve monetary policy remains the same no matter who the front man in the White House is. Partisan politics and blaming the last seat-warmer will not solve anything.

    “The current Globalist Financial Crisis is a Financial False Flag operation. It is a controlled collapse of the globalist economic system, engineered by an international war crimes racketeering organization. The globalist financial system is being intentionally destabilized,” writes Alfred Lambremont Webre.

    In response to their engineered collapse — and depressions are now scientifically created, as Lindbergh rightly noted after the creation of the Federal Reserve — the banksters and their political minions are demanding world government and a global banking cartel to “regulate” (dominate) the world economy.

    Tossing Bernanke out on his ear will not save us from this globalist financial false flag operation. Stalling Bernanke’s re-anointment will not slow down the scam.

    Only an audit and eventual abolition of the Federal Reserve will save us from the banksters and their criminal scheme. Open the Fed’s books will allow us to identify the criminals, arrest them, and put them on trial for economic crimes against humanity.

    Sanders and other members of Congress opposed to the bankers need to correctly identify and expose the banksters and their grand scale heist of the global economy.

    It does not matter if Bernanke is re-installed on the Federal Reserve throne. It does not matter if his re-nomination is delayed a couple hours or a few days.

    The Fed needs to be abolished — and sooner before later if we are going to prevent a total collapse of the economy, the imposition of a dictatorial world government, and the installation of world-wide serfdom and a high-tech slave and surveillance grid.

    URL to article: http://www.infowars.com/sen-sanders-attempts-to-block-fed-mob-boss-second-term/

     
  • ancavge 5:27 pm on November 29, 2009 Permalink | Reply
    Tags: 1/1/10, , , , , , , fed, , , hyperinflate, , , TARP   

    Potential For Fed To Hyperinflate 

    Bob Chapman
    The International Forecaster
    November 29, 2009

    The following information may be the most important we have ever published. One of our Intel sources, highly placed in banking circles, tells us that on 1/1/10 all banks that have received TARP funds have been informed by the Federal Reserve that they must further restrict any commercial lending. Loans have to be 75% collateralized, 50% of which has to be in cash, which is a compensating balance.

    The Fed has to do one of two things: They either have to pull $1.5 trillion out of the system by June, which would collapse the economy, or face hyperinflation. This is why the Fed has instructed banks to inform them when and how much of the TARP funds they can return. At best they can expect $300 to $400 billion plus the $200 billion the Fed already has in hand.

    We believe the Fed will opt for letting the system run into hyperinflation. All signs tell us they cannot risk allowing the undertow of deflation to take over the economy. The system cannot stand such a withdrawal of funds. They also must depend on assistance from Congress in supplying a second stimulus plan. That would probably be $400 to $800 billion. A lack of such funding would send the economy and the stock market into a tailspin. Even with such funding the economy cannot expect any growth to speak of and at best a sideways movement for perhaps a year.

    We have been told that the FDIC not only is $8.2 billion in the hole, but they have secretly borrowed an additional $80 billion from the Treasury. We have also been told that the FDIC is lying about the banks in trouble. The number in eminent danger are not 552, but a massive 2,035. The cost of bailing these banks out would be $800 billion to $1 trillion. That means 2,500 could be closed in 2010. Now get this, the FDIC is going to be collapsed before the end of 2010, which means no more deposit insurance. This follows the 9/18/09 end of government guarantees on money market funds. Both will force deposits into US government bonds and agency bonds in an attempt to save the system.

    This will strip small and medium-sized banks and force them into shutting down or being absorbed. This means you have to get your money out of banks, especially CDs. We repeat get your cash values out of life insurance policies and annuities. They are invested 80% in stocks and 20% in bonds. Keep only enough money in banks for three months of operating expenses, six months for businesses.

    Major and semi-major banks are being told to obtain secure storage for new currency-dollars. They expect official devaluation by the end of the year.

    We do not know what the exchange rate will be, but as we have stated previously we expect three old dollars to be traded for one new dollar. The alternative is gold and silver coins and shares. For those with substantial sums that do not want to be in gold and silver related assets completely you can use Canadian and Swiss Treasuries. If you need brokers for these investments we can supply them.

    The Fed also expects a meltdown in the bond market, especially in municipals. Public services will be cut drastically leading to increased crime and social problems, not to mention the psychological trauma that our country will experience. Already 50% of homes in hard hit urban areas are under water, nationwide more than 25%. That means you have to be out of bonds as well, especially municipals.

    As you can see, the Illuminist program is going to come quicker than we anticipated. That in part is because they have had to expedite their program, due to exposure in the IF, other publications and especially via talk ratio and the Internet. There is no doubt we have the elitists on the run.

    We are reaching the masses. On TalkStreamLive.com we were on the Rumor Mill this past week and out of 50 talk radio programs we were 5th behind, Rush, Hannity, Dr. Laura and we were tied with Beck. On the Sovereign Economist on Wednesday night we were 5th behind Beck and Savage and ahead of Hannity. Both these programs are not well known and the Sovereign Economist is only about a month old. It shows you what you can do if you work hard enough at it.

    The latest favorable events we are told are the seeds of recovery. The green-shoots of spring are to be harvested before winter sets in. We are skeptical of the strength and duration of such a recovery.

    The underlying problems are still not being addressed. The US government and the Fed cannot bail out banking, Wall Street, insurance and government indefinitely via monetization. Impaired corporations, no matter what their size, have to be allowed to fail. Stimulus cannot be used indefinitely. Both have to be reigned in, because the longer this charade continues the worse the final outcome is going to be. As we predicted six year’s ago, Fannie Mae, Freddie Mac, Ginnie Mae and FHA are the wards of American taxpayers, as is AIG. All their financial conditions worsen every day. They have again been insuring subprime mortgages by the thousands and when they begin to reset next year, we will be back to 60% failure rates. Even government admits already they’ll see 20% failure rates. This, so that housing inventory can be cut from 11-1/2-months inventory to 7-months, again in order to bail out the lenders at the expense of taxpayers. Government and the Fed have no exit plans for these sinking ships, particularly Fannie, Freddie, Ginnie and FHA, never mind their meddling in the economy guaranteeing everything is sight. Benito Mussolini would be very proud of what they have done.

    Then we have those on Wall Street, banking and corporate America who believe they are doing God’s work by looting the American public making outrageous profits by in part using taxpayer funds, and allotting themselves disgraceful bonuses as unemployment hovers at 22.2%. Haven’t these people heard of the French Revolution? Their arrogance has no bounds. The credit crisis hasn’t ended; the Fed has extended it by throwing money at problems. We have a mortgage market that is worse than it was a year ago, only kept from sinking by a tax credit 3% down. As a result now we have more than $1 trillion of new mortgage failures on the way.

    Our monetary base has more than doubled. Interest rates will probably stay where they are for 18 months or more and we even have a dollar carry trade. The 2009 fiscal budget deficit was $1.5 trillion and 2010 will be worse. Government is not cutting expenses. They are increasing expenses.

    In addition making matters worse corruption is flourishing via the incestuous revolving door between Wall Street, the Treasury, in a multiplicity of other appointments and with the Fed. Is it any wonder 75% of Americans want the Fed audited and investigated. That said, the present set of circumstances cannot be allowed to go on indefinitely. We cannot keep insurance, Wall Street and banking on life support forever. Not when we finance two occupations and an ongoing war, never mind our unfunded liabilities of Medicare, Social Security, etc. most all of these problems are being financed by debt to be paid by our great, great grandchildren. We just created $12.7 trillion for bailouts and the Inspector General tells us we are presently on the hook for $23.7 trillion. What happens if all the recipients need another $20 trillion?

    The situation is still dire and the solution is temporary and unworkable and Washington and New York are well aware of this. The game will play out over the next few years. In the meantime the dollar will move lower and inflation, gold and silver higher.

    Economics is not complex; it is very simple. Professors and economists would like to have you believe it is complicated when in fact they make it opaque, so you cannot understand it. The same is true with banking. In normal times through the century’s bankers using the fractional banking system usually lent 8 times their assets, or deposits. It was only until recently that the privately owned Federal Reserve told banks within the system to lend 40 times assets or more in order to accommodate the system.

    All this is to cover to confuse and hide the truth of fractional banking. Bankers’ indebt borrowers with money they made up out of thin air. Debt is enslavement by the bankers upon the people by buying almost everyone off. In the final analysis banking is a fraud unless money is interest free. The Fed, and all the other banks are a fraud.

    The game as we know it today began in 1694 when the Rothschild’s formed the privately owned Bank of England and the production of bank notes began and circulated along with sterling silver coins. The end result has been that the bankers own the world. The system today is based on confidence and trust, something that has been worn thin. A reflection of the loss of trust and confidence is that 75% to 80% of Americans want HR1207 and S604 passed by Congress, so that the Fed can be audited and investigated. The public no longer trusts the Fed and the banks. As a result the con game may well be coming to an end. Fifty years ago we and a handful of other conservative warriors set out to inform the public of the giant scam that the Fed really was. It has been a long hard road. Gary Allen and Alan Stang are gone and of the originals all that are left are G. Edward Griffin, Stan Monteith, Anthony Hilder and us. During our lifetimes we now probably will see the end of the Fed. Because the people have finally been awakened. It was a long hard battle that may soon come to fruition.

    The final step will be the termination of the Federal Reserve and its monopoly on financial theft. Unfortunately it will mean the demise of the only financial system we have known for 315 years. We do not know as yet what the new system will be like, but the con game is over and most of the world’s inhabitants are broke. The debt that is owed simply cannot be repaid. Japan, the US, the UK and Europe will be the first to go followed by most of the rest of the world.

    You ask who will be the big winners? Gold and silver of course. Just as we have been telling you they would for 9-1/2 years, since gold was $252.00 and silver $3.80. Look at the gains for those who listened. And, we still have a long, long way to go to preserve our wealth. Over all those years the gold suppression cartel fought to hold down gold prices by selling gold, using derivatives and futures and in collaboration with good producers such as Barrick Gold and others. Hopefully HR3996 (HR-1207) will now pass unchanged and we can take a look at what the Fed and the Treasury were doing and who aided them.

    What we are witnessing in the US and world economy is the result of the greed of central banks to make as much money as possible before they have to collapse the system to bring about World Government.

    Manufacturing activity in the Federal Reserve Bank of Kansas City’s district improved in November.

    URL to article: http://www.infowars.com/potential-for-fed-to-hyperinflate/

     
  • ancavge 6:50 pm on November 28, 2009 Permalink | Reply
    Tags: , , , , , , , fed, , , , ,   

    Audit the Fed: Bernanke and the Bankers Are Running Scared 

    Kurt Nimmo
    Infowars
    November 28, 2009

    Ben Bernanke, Federal Reserve mob boss, is running scared. He is deathly afraid an audit of his criminal organization.

    “These measures are very much out of step with the global consensus on the appropriate role of central banks, and they would seriously impair the prospects for economic and financial stability in the United States,” Bernanke wrote in the CIA’s favorite newspaper, The Washington Post.

    Bernanke penned his tribute to central banking and globalism prior to his scheduled testimony before a Senate panel on his renomination to serve a second four-year term as Fed mob boss.

    Bankster tool Barney Frank, chairman of the House Financial Services Committee, tried to derail an effort to audit the Fed but failed. A proposal to audit the Fed’s monetary policy deliberations won a committee vote recently over Frank’s objections.

    In his Mockingbird media editorial, Bernanke “conceded the Fed had missed some of the riskiest behavior in the lead up to the crisis. But he said the Fed had helped avoid an even more damaging economic meltdown and has stepped up its policing of the financial system.”

    In fact, the Fed was specifically designed to create financial crises. It was all plotted in 1910 when minions of J.P. Morgan, John D. Rockefeller, the Rothschilds and Warburgs met on Jekyll Island off the coast of Georgia. In 1913, the U.S. Federal Reserve Bank was created as a direct result of that secret meeting. Said Congressman Charles Lindbergh on the midnight passage of the Federal Reserve Act: “From now on, depressions will be scientifically created.”

    In order to scientifically create an economic depression, the Fed prompted irresponsible speculation by expanding the money supply sixty-two percent between 1923 and 1929. The so-called Great Depression followed. This depression “was not accidental. It was a carefully contrived occurrence,” declared Congressman Louis McFadden, Chairman of the House Banking Committee. “The international bankers sought to bring about a condition of despair here so that they might emerge as rulers of us all.”

    In March of 1929, Paul Warburg issued a tip that the scientifically created crash was coming. Before it did, John D. Rockefeller, Bernard Baruch, Joseph P. Kennedy, and other banksters got out of the market.

    A few years later, the banksters and their minions met in Bretton Woods, New Hampshire, and plotted the creation of the International Monetary Fund and the World Bank. The purpose of these two criminal organizations was to set-up a global Federal Reserve system and wage economic warfare on billions of people. The weapon they used was debt and the loss of sovereignty that follows.

    In 1971, then president Nixon fit one of the last pieces into the puzzle — he signed an executive order declaring that the United States no longer had to redeem its paper dollars for gold. It was a great day for the banksters and the global elite. The gold standard ensured predictability and regularity in the economy and the banksters wanted to put an end to that. For the bankers, order and control is realized out of chaos and misery.

    Fast-forward to the present day. Bernanke’s Fed has meticulously sabotaged the economy in order to create a crisis in classic Hegelian fashion. The corporate media tells us the crisis is the result of ineptitude and mismanagement at the Federal Reserve. Au contraire. Like the Great Depression, the even Greater Depression now on the horizon was scientifically created.

    The Fed is the primary instrument the bankers are now using to destroy the middle class, hand over all public assets and resources to them, implement a crushing austerity, usher in a new era of global corporatist feudalism and build a sprawling planet-wide slave plantation based on China’s totalitarian model.

    It is the ultimate dream of the banking cartel. It will be used as the foundation to build world government. Destroying the dollar as the world’s reserve currency is only the beginning.

    Bernanke knows Ron Paul and the audit the Fed movement are extremely dangerous. That’s why he is pushing this facile “oops” theory. In order to fix things, the Fed will use its “knowledge of complex financial institutions” in order to supervise them, he writes in his Mockingbird editorial. Allowing audits of Federal Reserve monetary policy would increase the perceived influence of Congress on interest rate decisions, he says.

    No, it would lay bare the criminality of the Federal Reserve. Maybe Bernanke is worried he will be obliged to wear an orange jumpsuit in the wake of an audit.

    As for Congress, Bernanke needs to read Article 1, Section 8 of the U.S. Constitution. Congress shall have exclusive power to “coin Money, regulate the Value thereof,” not a criminal cartel of monopoly men who dream of a prison planet.

    URL to article: http://www.infowars.com/audit-the-fed-bernanke-and-the-bankers-are-running-scared/

     
  • ancavge 9:21 pm on September 21, 2009 Permalink | Reply
    Tags: , , , , , , , dollar destroyer, fed, , , stock market,   

    Bernanke the Dollar-Destroyer and the Coming Stock Market Crash 

    Bob Chapman
    The International Forecaster
    September 21, 2009

    To borrow from an old joke about politicians, we ask our subscribers if they know how to tell when Helicopter Ben Bernanke, the current Fed Head, is lying.  Answer:  Whenever his lips are moving.  Now we hear from the Dollar-Destroyer that our recession has technically ended (heaven forbid that we should call our current Fed-caused calamity a depression, which is what it has been since Obama took office) .  So we guess that we should take his word for it, seeing that every call he has made during his short tenure as Chairman of the Federal Reserve Board has been 100% wrong.

    Surely you’re joking, Mr. Bernanke!!!  Apparently, we are just supposed to ignore our tanking dollar, rising unemployment, ever-weakening consumer spending (which only accounts for 70% of our GDP), a moribund real estate market, trillions in losses lying dormant in the zombie bank mark-to-model scam, not to mention all the off-the-books losses in derivatives pawned off on bank customers after Glass-Steagall was repealed as well as a glowing, smoking Quadrillion Dollar Derivative Death Star waiting to go supernova to the tune of tens of trillions in losses that will vaporize the entire world banking system thanks to the total deregulation of OTC derivatives courtesy of the Commodities Futures Modernization Act.  Then there are the ongoing multi-trillion dollar money siphons in Iraq and Afghanistan, thousands of banks, including all the “anointed” legacy banks, that are buried in derivatives and about to fail, a bankrupt Social Security System, a totally naked FDIC, a Fed printing trillions of dollars out of thin air, in secret, without any accountability, and future multi-trillion dollar budget deficits being incurred to keep a totally comatose economy on artificial, taxpayer-sponsored life support.  If that sounds like the end of a recession to the people on planet earth, then beam us up Scotty, we’re on a planet full of psychopaths suffering from hallucinations and delusions of grandeur.  Oh, and Scotty, make sure you remember to beam our gold and silver up with us.  We’re certainly going to need it the next time we come back to Planet Earth for an exploratory visit to see if the collective, ongoing phantasmagoric, mushroom-induced hallucinations of its inhabitants have finally run their course.

    Note that open interest for the USDX, after rising to a little over 41,000, which is above average, has suddenly collapsed to below 34,000 as of 9/16/09.  The dollar is no longer being defended because the Illuminist cabal plans to take the stock markets up to a blow off interim top around Dow 10,000 to 10,500 with a final short-covering rally either this week, or perhaps the middle of next month, as general stock market options expire. They will then attempt to orchestrate a major stock market correction, which is now long expected and long overdue, just as gold and silver really start to take off.

    The only question is, how long and how high will they try to take the stock markets before the long awaited correction is allowed to occur as the PPT withdraws its support.  The answer, as usual, will be determined by the gold and silver markets, and the strength of their now ongoing rallies.  If the rallies in gold and silver get out of hand as hundreds of millions of Chinese and Indians jump on the gold and silver bandwagons while China reneges on its losses in OTC gold and silver shorts, you can count on a major stock market correction immediately.  Another tip off will be a large jump in open interest for USDX futures contracts again, this time probably to well above the 50,000 level.  This will be the dollar’s and treasury’s last hurrah as the Illuminati will be immediately forced to recommence the stock rally or face the defeat of any and all of their proposed legislation on Goldman Sachs’ “cap and trade” scam, on the Obama-Kennedy-Kavorkian Euthanasia Plan and on the military expenditures for Afghanistan.  After citizens watch their pensions and mutual funds nose-dive toward oblivion for a second time, they will immediately decide that they can’t afford to spend another penny.  Crashing stock markets beyond a 50% correction would thoroughly discredit Obama’s Stimulus Pork Plan and would also put crushing pressure on the Fed.  Unless the stock markets recover quickly, the sheople will scream for the Fed’s blood and the Audit the Fed bill will become a foregone conclusion.

    A stock market crash will make people downright venomous toward this cabal of middle class pauper-makers.  The Illuminati are now caught between a rock and hard place.  If they don’t crash the stock markets, the tanking dollar and treasuries will be toast and gold and silver will rip them a new one and expose their mishandling of our money supply and our economy.  If they crash the stock markets to put an obstruction in the path of gold and silver, they risk political annihilation, legislative suicide and an audit of the Fed, which will be followed by a hue and cry for its termination when everyone finds out how thoroughly they have been screwed for the past 95+ years.   Their options are weak and few.  All they can do is play the obstructionist with bogus delay tactics, but in the end they will get buried.

    If they fail to take gold and silver down low enough to cover, a distinct possibility, the cartel’s shorts will get vaporized, and gold and silver will go on a moon-shot.  They are now fighting the combined populations of China, India, Japan, the Middle East, Southeast Asia, Germany and most of Western Europe, as well as the governments of Germany, China (especially the region of Hong Kong) and the Gulf Cooperation Council countries, whose gold they have stolen, leased or encumbered.  These nations, who foolishly entrusted their bullion to the US Illuminist cabal, have been left exposed as sitting ducks for a hyperinflationary supernova.  These countries are hopping mad about this, and all they have on their minds now is self-preservation and vengeance.  Due to the ongoing financial debacles and bailouts going on globally, and the profligate policies of central banks worldwide that are causing fiat currencies everywhere to lose ground against gold, people will be looking to precious metals for an alternative to paper assets denominated in fiat currencies.

    We would highly suggest that Buck-Busting Ben Bernanke and the twelve Presidents of the regional Federal Reserve Banks make arrangements for the international banking cabal’s version of The Last Supper.  We hear through the grapevine that an “Upper Room” is available in the US Capitol Building.  You can bet Ben will be running for his helicopter before the crucifixion gets under way!  Obama and the twelve members of the Federal Open Market Committee can then do a repeat performance (but without Ben who will be long gone in his helicopter).  You can bet Obama will be headed for Air Force One for a one-way trip to Kenya, or Indonesia, or wherever the heck he really comes from!  Where is the Border Patrol and ICE when you need them to remove an illegal alien!?

    Friday September 18th is the day our government will no longer guarantee money market funds. In anticipation of this event professionals have been moving funds out of these vehicles; some 15% over the past month. What the administration, and particularly the Treasury want to do is try to get those funds directly into Treasuries and into banks. From our point of view neither are safe, nor are credit unions. Those funds should move into gold and silver related assets and for those who must have currency liquidity, those funds should go into Canadian and Swiss Treasuries to profit from the continued fall in the US dollar. You must get your money out of banks, US government debt and anything connected with the US stock and bond markets. The exception being gold and silver shares. All major American banks, which hold 70% of deposits, are broke and so is the FDIC. You have no insurance unless you are willing to accept $0.30 on the dollar. You must be out of all these vehicles. The money market funds are loaded with suspect corporate debt never mind Treasury debt. We recommended Swiss and Canadian Treasuries some time ago. The dollar has fallen and all these thousands of investors have made money. Get out of money market funds. Already 1/3rd of these funds have had their NAV’s below a dollar since 7/07. They are still holding some very risky paper. Almost 40% is in CD’s of foreign banks, 10% in short-term corporate paper and over 12% in medium-term corporate paper. About 68% is in taxable non-government funds. You will see a great decline in money market fund assets as holders foolishly transfer the funds into FDIC-insured accounts, CD’s and Treasury instruments of one form or another. The only real safe place to go is to gold and silver related assets and if you must Canadian and Swiss Treasuries.

    • A d v e r t i s e m e n t
    • efoods

    Commercial paper rose $16.1 billion; asset backed CP rose $18.1 billion versus $6.2 billion the previous week. ABCP outstanding was $501.5 billion versus $483.5 billion the prior week. Unsecured financial CP issuance fell $9.7 billion versus $6.2 billion.

    Capital from foreign sources was $612 billion in 2007 and $675 billion in 2008. This year in May it was -$54.6 billion; -$57 billion in June, -$56.8 in July and -$97.5 billion in August.

    Capital is leaving at an accelerating rate. This means interest rates should be raised. The Fed is monetizing and in all likelihood that will increase and that will lead to a currency crisis. The Fed has said it will ease quantitative easing, but if it does the stock and bond market will fall. If they increase there will be a currency crisis. There is now no question the dollar is being sacrificed. The idea is to allow it to fall incrementally and as slowly as possible.

    We have continued to state the Amero will not replace the dollar and that it is and has been a false issue. The dollar will be replaced by another dollar in either 2010, 2011 or 2012. As we explained in early May when the dollar was 89.5 on the USDX, that this was the top. Next stop by the end of October would be 71.18, or at least by yearend. After that comes 40 to 55 and then an official devaluation and default; as all currencies and debt would be dealt with at a special meeting involving all countries.

    Debt in the banking system is going to be absorbed by the Fed. Almost all major banks are bankrupt. That is why you do not want to have much money in banks and no CD’s; cash value life policies or annuities. Next year we will witness a second round of debt write offs and a crisis in the derivative market. If the Fed doesn’t monetize the debt the system will collapse, but then again there may be no Fed if HR1207 becomes law. Every problem would then lie in the lap of the Treasury. The American financial system is unsustainable and our foreign wars and occupations will come to a close in 2010 or 2011. The cost will no longer be sustainable. The US stock and bond markets will fall and you will not want to own any US government obligations. It could be that the role-played by the Fed, if the Fed is replaced, could in part be played by Goldman Sachs and JP Morgan Chase. Due to the Fed’s absorption of bad assets it could be that the Fed will self-destruct in the process of being legislatively being eliminated. Recovery of the US economy would then depend economically on tariffs on goods and services to bring manufacturing back to America.

    A CBS News blogger named Declan McCullagh seized on the documents, which CEI obtained through a Freedom of Information Act request, and said: “The Obama administration has privately concluded that a cap and trade law would cost American taxpayers up to $200 billion a year, the equivalent of hiking personal income taxes by about 15 percent.” He added: “At the upper end of the administration’s estimate, the cost per American household would be an extra $1,761 a year.”

    The Bank Implode-o-meter: Wells Fargo’s Commercial Portfolio is a ticking time bomb.

    In order to sort through the disaster that is Wells Fargo’s commercial loan portfolio, the bank has hired help from outside experts to pour over the books… and they are shocked with what they are seeing. Not only do the bank’s outstanding commercial loans collectively exceed the property values to which they are attached, but derivative trades leftover from its acquisition of Wachovia are creating another set of problems for the already beleaguered San Francisco-based megabank, Wachovia, which Wells purchased last fall as it teetered on the brink of collapse, was so desperate to increase revenue in the last few years of its existence that it underwrote loans with shoddy standards and paid off traders to take them off their books.

    According to sources currently working out these loans at Wells Fargo and confirmed by Dan Alpert of Westwood Capital, when selling tranches of commercial mortgage-backed securities below the super senior tranche, Wachovia promised to pay the buyer’s risk premium by writing credit default swap contracts against these subordinate bonds. Should the junior tranches eventually default, then the bank is on the hook.

    For the past 14 years, the gap between the two measures has grown persistently, with operating earnings topping GAAP earnings by an average of $2.47 a share per quarter.

    When using a 10-year trailing average of earnings to erase cyclical gyrations, operating earnings are nearly 24% higher than GAAP earnings, the highest ever.

    It isn’t clear why the difference has grown so wide. One inescapable conclusion is that, since 1995, either by happy accident or accounting shenanigans, one-time losses have grown more quickly than one- time gains, elevating the operating earnings that Wall Street watches.

    The investment implications are many. For one thing, two earnings measures produce two market valuations. The S&P 500 trades at 21 times the past 10 years’ GAAP earnings and 17 times operating earnings. Neither is exactly cheap, but one is much pricier than the other.

    Japan urges talks on US military base Japan considers revision of a deal with the US to relocate a military base to be a top diplomatic priority, Tokyo’s newly appointed foreign minister has told the Financial Times, waving aside concerns that reopening the agreement could undermine the alliance between the countries.

    The declaration by Katsuya Okada, a senior member of Japan’s ruling Democratic Party (DPJ), highlights the international implications of the party’s determination to set a more independent diplomatic agenda. GQ excerpts Speech-Less: Tales of a White House Survivor by ex-Bush speechwriter Matt Latimer:

    We wrote speeches nearly every time the stock market flipped. Meanwhile, the White House seemed to have ceded all of its authority on economic matters to the secretive secretary of the treasury…(In the weeks that followed, Paulson changed his spending priorities two or three times. Incredibly, he’d been given the power to do with that money virtually anything he pleased. All thanks to a president who didn’t understand his proposal and a Congress that didn’t stop to think….)

    Chris had just come from a secret meeting in the Oval Office, and without so much as a hello he announced: “Well, the economy is about to completely collapse.”

    You mean the stock market?” I asked.

    “No, I mean the entire U.S. economy,” he replied. As in, capitalism. As in, hide your money in your mattress.

    The Secretary of the Treasury, Hank Paulson, had sketched out a dire scenario. And Chris said we’d have to write a speech for the president announcing his “bold” plan to deal with the crisis. (The president loved the word bold.) The plan… Basically, it could be summed up as: Give me hundreds of billions of taxpayer dollars and then trust me to do the right thing…In some cases, in fact, Secretary Paulson wanted to pay more than the securities were likely worth in order to put more money into the markets as soon as possible. This was not how the president’s proposal had been advertised to the public or the Congress. It wasn’t that the president didn’t understand what his administration wanted to do. It was that the treasury secretary didn’t seem to know, changed his mind, had misled the president, or some combination of the three.

    When White House press secretary Dana Perino was told that 77 percent of the country thought we were on the wrong track, she said what I was thinking: “Who on earth is in the other 23 percent?” I knew who they were—the same people supporting the John McCain campaign. Me? I figured there was no way in hell any Republican would vote for that guy. John McCain, the temperamental media darling, had spent most of the past eight years running against the Republican Party and the president—Republicans on Capitol Hill and at the White House hated him. Choosing John McCain as our standard-bearer would be the height of self-delusion.

    He [Bush] paused for a minute. I could see him thinking maybe he shouldn’t say it, but he couldn’t resist. “If bullshit was currency,” he said straight-faced, “Joe Biden would be a billionaire.” Everyone in the room burst out laughing.

    The latest propaganda on quantitative easing and reining it in reaches us. Evidentially the G-20 meeting in Pittsburgh later this month will put together a roadmap outlining how to reverse previous stimulation of world economics. If that happens the world financial structure will collapse. They know that just as well as we do. The IMF wants the G-20 to coordinate the unwinding of these efforts. Of course, the players all know inflation is on the way and they want to make people think they are going to do something about it. Even the Fed says it is ending quantitative easing at the end of the fiscal year on 9/31/09. We know that cannot be true with the Treasury issuing $2 trillion in bonds in this coming fiscal year.

    URL to article: http://www.infowars.com/bernanke-the-dollar-destroyer-and-the-coming-stock-market-crash/

     
  • ancavge 9:10 pm on September 17, 2009 Permalink | Reply
    Tags: , , , , , , , , , fed, , , , , poor class, , , , taxer,   

    Ron Paul: End the Fed, Save the Dollar 

    Brian Beers
    CNBC
    September 17, 2009

    • A d v e r t i s e m e n t
    • efoods

    “Nothing good can come from the Federal Reserve,” writes Texas Congressman Ron Paul in his latest book hitting shelves this week, titled “End the Fed.”

    “It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.”

    Paul makes the case that the Fed is the main culprit responsible for the current economic mess the country faces through the destructive policies of cheap credit and excessive money printing.

    “Prosperity can never be achieved by cheap credit,” says Paul. “If that were so, no one would have to work for a living. Inflated prices only deceive one into believing that real wealth has been created.”

    The Federal Reserve, created in 1913, has been acting as the main central bank of the United States for nearly one hundred years. Many Americans are either not sure or not interested in what role the Fed plays in managing the economy. “The economic crisis has changed everything,” writes Congressman Paul.

    Read entire article

    URL to article: http://www.infowars.com/ron-paul-end-the-fed-save-the-dollar/

     
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