- Could the Fed Lose Control of the Frankenstein Economy It Has Created? (OfTwoMinds, Jan 1, 2014):
What if there are tail risks present in the Fed’s Frankenstein Economy of the same sort that Greenspan et al. failed to identify in 2008?
A longtime correspondent emailed me last week about the apparent contradiction between a Federal Reserve that has had the power for five years to counteract any decline and my call for a market decline in 2014: why would the Fed allow a market it has pushed higher for five years to ever fall?
It’s an excellent question, as it summarizes the key question: is there any limit on “don’t fight the Fed?” Can the Fed push assets higher essentially forever? And if so, why did it fail to do so in 2008?
- 100 years of economic turmoil: Is it time to ‘End the Fed’? (RT, Dec 23, 2013):
Since the magical moment of its inception on Dec. 23, 1913, the Federal Reserve System has been a source of controversy and even contempt for a growing number of Americans, many of whom are still feeling the sting of the latest financial crisis.
A large part of the discomfort with the Federal Reserve System can be traced back to a dusty document known as the US Constitution, a historic manuscript that predates “The Fed” by 125 years, in which it clearly states (Section 8, Article 5): “Congress shall have power to coin money, regulate the value thereof.”
Yet, despite its officious-sounding title, the Federal Reserve System is not an actual branch of the US government, nor does the US government have any control over its monetary monkeying, which involves the printing of money as well as setting interest rates.
These awesome powers were admitted by no less a respectable figure than Alan Greenspan, who served as Chairman of the Federal Reserve from 1987 to 2006.
- On The 100th Anniversary Of The Federal Reserve Here Are 100 Reasons To Shut It Down Forever (Economic Collapse, Dec 22, 2013):
December 23rd, 1913 is a date which will live in infamy. That was the day when the Federal Reserve Act was pushed through Congress. Many members of Congress were absent that day, and the general public was distracted with holiday preparations. Now we have reached the 100th anniversary of the Federal Reserve, and most Americans still don’t know what it actually is or how it functions. But understanding the Federal Reserve is absolutely critical, because the Fed is at the very heart of our economic problems.
Since the Federal Reserve was created, there have been 18 recessions or depressions, the value of the U.S. dollar has declined by 98 percent, and the U.S. national debt has gotten more than 5000 times larger. This insidious debt-based financial system has literally made debt slaves out of all of us, and it is systematically destroying the bright future that our children and our grandchildren were supposed to have.
If nothing is done, we are inevitably heading for a massive amount of economic pain as a nation. So please share this article with as many people as you can.
The following are 100 reasons why the Federal Reserve should be shut down forever: Continue reading »
Tags: Alan Greenspan, Bank of America, Bank of England, Banking, Barack Obama, Ben Bernanke, Bonds, Citigroup, Collapse, Debt, Dollar, Economy, Fed, Federal Reserve, Global News, Goldman Sachs, Government, JPMorgan, Mexico, Morgan Stanley, Obama administration, Politics, Quantitative Easing, U.S., Unemployment
- The Hidden Motives Behind The Federal Reserve Taper (Alt-Market, Dec 21, 2013):
“The powers of financial capitalism had (a) far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland; a private bank owned and controlled by the world’s central banks which were themselves private corporations. Each central bank… sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world.” – Carroll Quigley, member of the Council on Foreign Relations
If one wishes to truly understand the actions behind private Federal Reserve policy, one must come to terms with a fundamental reality – everything the Fed does it does for a reason, and the most apparent reasons are not always the primary reasons. If you think that the Fed simply acts on impulsive stupidity or hubris, then you haven’t a clue what is going on. If you think the Fed only does what it does in order to hide the numerous negative aspects of our current economy, then you only know half the story. If you think the Fed does not have a plan, then you are sorely mistaken…
- Greenspan #Timestamped – “Dow 16,000 Is Not A Bubble” (ZeroHedge, Nov 27, 2013):
The maestro clarifies his ‘experienced’ perspective of spotting bubbles in the following quote from his interview with Bloomberg TV’s Al Hunt:
“This does not have the characteristics, as far as I’m concerned, of a stock market bubble,”
Of course, as we noted here, some would beg to differ; but perhaps what would be useful is for the former Fed head to explain what ‘characteristics’ do constitute a bubble…
Nope, no bubble here…
And here’s his explanation… Continue reading »
- Peter Schiff Warns Yellen’s Nomination Means Any QE Taper Expectations Are “Delusional” (ZeroHedge, Oct 9, 2013):
Submitted by Peter Schiff via Euro Pacific Capital,
Now that Janet Yellen has been named to lead the Federal Reserve the global financial markets should factor out any possibility that the Fed will diminish their Quantitative easing program anytime during her tenure. In fact, financial forecasts should assume that not only is a taper off the table, but that the QE program is now more likely to be perpetuated and expanded.
Unlike her predecessors, Janet Yellen has never had a youthful dalliance with hawkish monetary ideas. Before taking charge of the Fed both Alan Greenspan, and to a lesser extent Ben Bernanke, had advocated for the benefits of a strong currency and low inflation and had warned of the dangers of overly accommodative policy and unnecessary stimulus. (Both largely abandoned these ideals once they took the reins of power, but their urge to stimulate may have been restrained by a vestigial bias against the excesses of Keynesianism). Janet Yellen, who has been on the liberal/dovish end of the monetary spectrum for her entire professional career, has no such baggage. As a result, we can expect her to never waver in her belief that stimulus is the answer to every economic question. Continue reading »
Tags: Alan Greenspan, Barack Obama, Ben Bernanke, Bonds, Debt, Dollar, Fed, Federal Reserve, Global News, Government, Janet Yellen, Keynesianism, Obama administration, Peter Schiff, Politics, Quantitative Easing, U.S.
- Fed’s Plosser Admits Fed Was Responsible For Last Housing Bubble, Doesn’t Want To “Create Another” (ZeroHedge, July 12, 2013):
The “mutinying” half of the Fed – that which the FOMC minutes indicated wanted an end to QE by the end of 2013 - is not going to take Bernanke’s Wednesday steamrolling lying down. Enter Charles Plosser, who becomes a voting member next year:
- PLOSSER SAYS FED SHOULD HALT QE BY END OF THIS YEAR
Good luck there. But here is the punchline: Continue reading »
- 1994 vs 2013: Spot The Carbon-Copy Similarities (ZeroHedge, July 9, 2013):
The only thing that is necessary for something to happen, is for everyone to say it can’t possibly happen. Such as a carbon copy replica of the 1994 bond crush. Presenting: 1994 vs 2013, or as it is better known “It can’t happen… It can’t happen…It can’t happen… It just happened”
And some rather spot on commentary on just this from Guggenheim’s Scott Minerd, who just like us, sees the inevitable outcome of the upcoming taper (which is coming), as the untaper, i.e., even moar printing by the Chairman (or woman as the case may be in 2014).
From Guggenheim‘s Scott Minerd
The Fed’s Bind: Tapering, Timetables and Turmoil
“The real hopeless victims of mental illness are to be found among those who appear to be most normal. Many of them are normal because they are so well adjusted to our mode of existence, because their human voice has been silenced so early in their lives that they do not even struggle or suffer or develop symptoms as the neurotic does. They are normal not in what may be called the absolute sense of the word; they are normal only in relation to a profoundly abnormal society. Their perfect adjustment to that abnormal society is a measure of their mental sickness. These millions of abnormally normal people, living without fuss in a society to which, if they were fully human beings, they ought not to be adjusted.”
– Aldous Huxley – Brave New World Revisited
“If you want a vision of the future, imagine a boot stamping on a human face – forever.”
- George Orwell
“There will be, in the next generation or so, a pharmacological method of making people love their servitude, and producing dictatorship without tears, so to speak, producing a kind of painless concentration camp for entire societies, so that people will in fact have their liberties taken away from them, but will rather enjoy it, because they will be distracted from any desire to rebel by propaganda or brainwashing, or brainwashing enhanced by pharmacological methods. And this seems to be the final revolution.”
-Aldous Huxley, 1961
- ABNORMALCY BIAS (The Burning Platform , May 9, 2013)
Tags: 1984, Alan Greenspan, Barack Obama, Ben Bernanke, Bonds, Debt, DHS, Economy, Fed, Federal Reserve, Food stamps, GDP, George Orwell, Glass Steagall, Global News, Government, Homeland Security, Iraq, Obama administration, Police State, Politics, Ron Paul, Society, SSDI, U.S.
You can’t make this stuff up!
- Greenspan: Ignore The Economy, “Only The Stock Market Matters” (ZeroHedge, Feb 15, 2013):
Starting at around 1:50, Greenspan states the odds of sequester occurring are very high – in fact, the playdough-faced ex-Chair-head notes, “I find it very difficult to find a scenario in which [the sequester] doesn’t happen” But when asked how this will affect the economy, Awkward Alan is unusually clearly spoken – “the issue is how does it affect the stock market.”While not so many of our leaders have taken the path to direct truthiness, Greenspan somewhat shocks a Botox’d and babbling Bartiromo when he admits “the stock market is the key player in the game of economic growth.”
YouTube Added: 17.01.2013
Jan. 17 (Bloomberg) — In today’s “Single Best Chart,” Bloomberg’s Scarlet Fu displays how inflation has increased in the 100 years since the creation of the Federal Reserve. She speaks on Bloomberg Television’s “Bloomberg Surveillance.”
Tags: Alan Greenspan, Banking, Barack Obama, Ben Bernanke, Bonds, Collapse, Debt, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Financial Crisis, Freddie Mac, Global News, Government, Hyperinflation, Inflation, Japan, Obama administration, Politics, Quantitative Easing, Real Estate, Society, U.S., Unemployment
- Marc Faber: “Paul Krugman Should Go And Live In North Korea” (ZeroHedge, Dec 13, 2012):
If there is one thing better than Marc Faber providing a free, must-watch (and listen) 50 minute lecture on virtually everything that has transpired in the end days of modern capitalism, starting with who caused it, adjustable rate mortgages, leverage, why did the Fed let Lehman fail, why was AIG bailed out, quantitative easing, Operation Twist, where the interest on the debt is going, which bubbles he is most concerned about, a discussion of gold and silver, and culminating with his views on a world reserve currency, is him saying the following: “The views of the Keynesians like Mr. Krugman is that the fiscal deficits are far too small. One of the problems of the crisis is that it was caused by government intervention with fiscal and monetary measures. Now they tells us we didn’t intervene enough. If they really believe that they should go and live in North Korea where you have a communist system. There the government intervenes into every aspect of the economy. And look at the economic performance of North Korea.” Priceless.
50 minutes of Faberian bliss:
Tags: AIG, Alan Greenspan, Ben Bernanke, Bonds, Bubble, Collapse, Debt, Dollar, Economy, Fannie Mae, Fed, Federal Reserve, Freddie Mac, Global News, Government, Lehman Brothers, LTCM, Marc Faber, Mortgage crisis, Mortgages, Operation Twist, Paul Krugman, Politics, Quantitative Easing, Stock Market, U.S.
AGAIN: This is the ‘Greatest Depression’.
- Have the Last 5 Years Been Worse than the Great Depression? (ZeroHedge, Sep 21, 2012):
What Do Economic Indicators Say?We’ve repeatedly pointed out that there are many indicators which show that the last 5 years have been worse than the Great Depression of the 1930s, including:
- The housing slump
- The interconnectedness of financial systems and economies worldwide (interconnectedness leads to financial instability)
- Runaway spending and greed
Mark McHugh reports:
Velocity of money is the frequency with which a unit of money is spent on new goods and services. It is a far better indicator of economic activity than GDP, consumer prices, the stock market, or sales of men’s underwear (which Greenspan was fond of ogling). In a healthy economy, the same dollar is collected as payment and subsequently spent many times over. In a depression, the velocity of money goes catatonic. Velocity of money is calculated by simply dividing GDP by a given money supply. This VoM chart using monetary base should end any discussion of what ”this” is and whether or not anybody should be using the word “recovery” with a straight face:
In just four short years, our “enlightened” policy-makers have slowed money velocity to depths never seen in the Great Depression.
Indeed, the number of Americans relying on government assistance to obtain basic food may be higher now that during the Great Depression. The only reason we don’t see the “soup lines” like we did in the 30s only because of the massive food stamp program.
Tags: Alan Greenspan, Barack Obama, Ben Bernanke, Bonds, Collapse, Debt, Dollar, Economy, Fed, Federal Reserve, GDP, George Soros, Global News, Government, Great Depression, Joseph Stiglitz, Marc Faber, Obama administration, Paul Volcker, Politics, Quantitative Easing, Society, U.S.
- The Bill Clinton Myth (ZeroHedge, Sep 9, 2012):
Earlier this week, former U.S. president Bill Clinton gave the keynote address to the Democractic National Convention in an effort to lend some of his popularity to Barack Obama. With the unemployment rate still stubbornly high at 8.1%, Obama has lost many of the enthused voters who put him into the Oval Office in 2008. Clinton was tapped to deliver the speech not only because of his image of a wonkish pragmatist but because of his presiding over the booming economy of the late 1990s. Like a prized mule, Clinton was dragged out to give Democrats someone to point to and say that his policies were the hallmark of smart governance. Continue reading »
Tags: Alan Greenspan, Barack Obama, Bill Clinton, Debt, Fed, Federal Reserve, GDP, Global News, Government, Great Depression, Joseph Stiglitz, M2, money supply, Obama administration, Politics, U.S., Unemployment
From the article:
Comment: It’s not “socialism for the rich”; that’s an oxymoron.
It’s corporatism, i.e. fascism, as defined by Benito Mussolini.
- Audit of the Federal Reserve Reveals $16 Trillion in Secret Bailouts (Sott.net, Sep 1, 2012):
The first ever GAO (Government Accountability Office) audit of the Federal Reserve was carried out in the past few months due to the Ron Paul, Alan Grayson Amendment to the Dodd-Frank bill, which passed last year. Jim DeMint, a Republican Senator, and Bernie Sanders, an independent Senator, led the charge for a Federal Reserve audit in the Senate, but watered down the original language of the house bill(HR1207), so that a complete audit would not be carried out.
Ben Bernanke, Alan Greenspan, and various other bankers vehemently opposed the audit and lied to Congress about the effects an audit would have on markets. Nevertheless, the results of the first audit in the Federal Reserve’s nearly 100 year history were posted on Senator Sander’s webpage earlier this morning.
What was revealed in the audit was startling:
Continue reading »
Tags: Alan Greenspan, Bailout, Bank of America, Banking, Barclays, Bear Stearns, Ben Bernanke, BNP Paribas, Citigroup, Congress, Credit Suisse, Deutsche Bank, Fed, Federal Reserve, Global News, Goldman Sachs, Government, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Politics, RBS, U.S., UBS
- Verified Warnings From Former U.S. Presidents About the “Invisible Government” Running the U.S. With “No Allegiance To the People” (Conscious Life News, Aug 31, 2012):
“Those who do not learn from history are doomed to repeat it.”- George Santayana
Past presidents of the United States and other high profile political leaders have repeatedly issued warnings over the last 214 years that the U.S. government is under the control of an “invisible government owing no allegiance and acknowledging no responsibility to the people.”
According to a half-dozen of our former presidents, one vice-president, and a myriad of other high profile political leaders, an invisible government that is “incredibly evil in intent” has been in control of the U.S. government “ever since the days of Andrew Jackson” (since at least 1836). They “virtually run the United States government for their own selfish purposes. They practically control both parties… It operates under cover of a self-created screen [and] seizes our executive officers, legislative bodies, schools, courts, newspapers and every agency created for the public protection.”
As a result, “we have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.”
The sources for the above quotes (and more) are listed below. All of the quotes listed in this article have been verified as authentic and have associated links to the source materials. Also included below are statements made by David Rockefeller, Sr, former director of the Council on Foreign Relations (CFR), and Federal Reserve Chairman’s Alan Greenspan and Ben Bernanke that appear to confirm some of the warnings.
Warnings About the Invisible Government Running the U.S.
The warnings listed below, which appear in chronological order, began with our first president – George Washington. The last president to speak out was JFK, who was assassinated. Read what they and other political leaders have said about the invisible government.
“It was not my intention to doubt that, the Doctrines of the Illuminati, and principles of Jacobinism had not spread in the United States. On the contrary, no one is more truly satisfied of this fact than I am. The idea that I meant to convey, was, that I did not believe that the Lodges of Free Masons in this Country had, as Societies, endeavoured to propagate the diabolical tenets of the first, or pernicious principles of the latter (if they are susceptible of seperation). That Individuals of them may… actually had a seperation [sic] of the People from their Government in view, is too evident to be questioned.” – George Washington, 1st President of the United States (1789–1797), from a letter that Washington wrote on October 24, 1798, which can be found in the Library of Congress. For an analysis of Washington’s warning, see the article “Library of Congress: George Washington Warns of Illuminati” Continue reading »
Tags: Alan Greenspan, Ben Bernanke, CFR, Fed, Federal Reserve, Franklin Delano Roosevelt, George Washington, Global News, Government, Illuminati, John F. Kennedy, Politics, Rockefeller, U.S., Woodrow Wilson
- WHO DESTROYED THE MIDDLE CLASS – PART 1 (The Burning Platform, June 19, 2012)
- WHO DESTROYED THE MIDDLE CLASS – PART 2 (The Burning Platform, June 21, 2012)
YouTube Added: 28.05.2012
Tags: Alan Greenspan, Bailout, Banking, Barack Obama, Ben Bernanke, Collapse, Dollar, Fannie Mae, Fed, Federal Reserve, Financial Crisis, Freddie Mac, Global News, Government, Inflation, Obama administration, Peter Schiff, Politics, Quantitative Easing, Silver, Society, U.S.
Transcript and video (and link to a speech by Lord James of Blackheath on Foundation X in 2010) here:
- Lord James Of Blackheath, House Of Lords, February 16, 2012 (Video): FOUNDATION X UPDATE!!!
Looks like this is going viral now …
- Intel Exclusive: Trillion Dollar Terror Exposed (Veterans Today, Feb. 21, 2012):
Bush, Fed, Europe Banks in $15 Trillion Fraud, All Documented
Below is one of the strangest stories in financial history, one involving the US government lying about hundreds of thousands of tons of imaginary gold, illegal wire transfers and loans totalling $15 trillion. The video, from the House of Lords, is amazing in itself.
What it doesn’t express is where the money came from though Lord James of Blackheath proves conclusively that an effort was made to say it came from a gold reserve in Brunei that, in fact, never existed.
At surface, it appears we have stumbled upon the largest terrorist organization in the world and have found original documents tracing its funding to the Secretary of the Treasury and the Chairman of the Federal Reserve, two of the top financial officers in the US. A cursory review of terrorism statues in the US indicate that all transactions we will learn about are, in fact, to be assumed “terrorist money laundering” and that the only thing preventing the immediate arrest of hundreds of top financial officials is their political connections alone.
YouTube Added: 17.02.2012
We will be able to offer an alternative, more insights, some hard intelligence and some very valuable background that we hope will offer insightful and realistic perspectives on this amazing story.
Tags: Alan Greenspan, Banking, Barack Obama, Bonds, Bush administration, CIA, Debt, Economy, Fed, Federal Reserve, Freemasonry, George Bush, George H. W. Bush, Global News, Government, HSBC, Obama administration, Politics, RBS, Ronald Reagan, Society, Timothy Geithner, U.S., White House
Nov. 1, 2010: Lord James of Blackheath, Speech on Foundation X (House of Lords, 01/11/2010) (Video)
YouTube Added: 17.02.2012
Lord James of Blackheath, House of Lords February 16 2012
Breaking news Lord James of Blackheath has spoken in the House of Lords holding evidence of three transactions of 5 Trillion each and a transaction of 750,000 metric tonnes of gold and has called for an investigation.
16 Feb 2012 : Column 1016
Lord James of Blackheath: My Lords, I hope the minute that that has taken has not come off my time. I do not wish noble Lords to get too encouraged when I start with my conclusions but I will not sit down when I have made them. I will then give the evidence to support them and, I hope, present the reasons why I want support for an official inquiry into the mischief I shall unfold this afternoon. I have been engaged in pursuit of this issue for nearly two years and I am no further forward in getting to the truth.
There are three possible conclusions which may come from it. First, there may have been a massive piece of money-laundering committed by a major Government who should know better. Effectively, it undermined the integrity of a British bank, the Royal Bank of Scotland, in doing so. The second possibility is that a major American department has an agency which has gone rogue on it because it has been wound up and has created a structure out of which it is seeking to get at least €50 billion as a pay-off. The third possibility is that this is an extraordinarily elaborate fraud, which has not been carried out, but which has been prepared to provide a threat to one Government or more if they do not make a pay-off. These three possibilities need an urgent review.
In April and May 2009, the situation started with the alleged transfer of $5 trillion to HSBC in the United Kingdom. Seven days later, another $5 trillion came to HSBC and three weeks later another $5 trillion. A total of $15 trillion is alleged to have been passed into the hands of HSBC for onward transit to the Royal Bank of Scotland. We need to look to where this came from and the history of this money. I have been trying to sort out the sequence by which this money has been created and where it has come from for a long time.
It starts off apparently as the property of Yohannes Riyadi, who has some claims to be considered the richest man in the world. He would be if all the money that was owed to him was paid but I have seen some accounts of his showing that he owns $36 trillion in a bank. It is a ridiculous sum of money. However, $36 trillion would be consistent with the dynasty from which he comes and the fact that it had been effectively the emperors of Indo-China in times gone by. A lot of that money has been taken away from him, with his consent, by the American Treasury over the years for the specific purpose of helping to support the dollar.
Tags: Alan Greenspan, Bank of England, Banking, Bonds, Debt, Europe, Fed, Federal Reserve, Global News, Gold, Government, HSBC, IMF, JPMorgan, Lord James Of Blackheath, Politics, RBS, Society, Timothy Geithner, U.K., U.S., Yohannes Riyadi
For your information.
The elitists vs. the people.
YouTube Added: 13.11.2011
For more information: Thrive
Tags: 9/11, Adolf Hitler, Agriculture, Alan Greenspan, Amy Goodman, Assassination, Banking, Big Brother, Big Pharma, Bilderberg, BIS, Canada, Cancer, Catherine Austin Fitts, CCTV, CFR, Chemtrails, CIA, Congress, Corporations, Council on Foreign Relations, David Icke, Debt, Deepak Chopra, Derivatives, Derivatives market, DHS, Dictatorship, Documentary, Dollar, ECB, Economy, Energy, Environment, EU, Europe, False flag, Fascism, Fed, Federal Reserve, FEMA, FEMA Camps, Financial Crisis, Food, Free Energy, Freedom, Freemasonry, G Edward Griffin, General Electric, Genetically Modified Organisms, Genocide, George Bush, George H. W. Bush, Global News, GMO, Gordon Brown, Government, Gulf of Tonkin, HAARP, Halliburton, Health, Henry Kissinger, Herman Van Rompuy, Homeland Security, Illuminati, IMF, infertility, Inflation, Inside job, Internet, Iraq, Jean-Claude Trichet, John Perkins, Journalism, JPMorgan, Law, Ludwig von Mises, Manhattan Project, Mexico, MI5, Microchip, Military, Money, Mortgage crisis, Mortgages, Nazi Germany, Nazis, New World Order, Nicola Tesla, Oil, Patriot Act, Pesticides, Pharmaceutical Industry, Police State, Politics, Pope Benedict XVI, Privacy, Procter & Gamble, Quantitative Easing, RFID, Rockefeller, Rothschild, Royal Rife, Saddam Hussein, Science, Seeds, Society, steril, Sterilization, Steven Greer, Surveillance, Technology, Terrorism, Terrorists, Thrive, Timothy Geithner, Trilateral Commission, U.N., UFO, Vaccination, Vaccine, Wall Street, War, War on Terror, Water, WHO, World Bank, WTC, WTO, WW II, Zionism
And don’t forget to ask Greenspan for his solution regarding social security, medicare, medicaid and unemployment …
… or even overpopulation.
Remember that Alan Greenspan is THE ONE who created this mess in the first place.
Peter Schiff on Alan Greenspan:
‘Alan Greenspan is not just the worst Fed chairman we’ve ever had, I think he’s the worst American we’ve ever had.’
‘Alan Greenspan is a TRAITOR to everything America stands for.’
Now listen to the TRAITOR…
- The Key to Fixing the Housing Market? (CNBC, Oct. 7, 2011):
buying homes and destroying them or burning them was the low cost option. i could demonstrate that at the time i made that statement of all of the alternatives that were available, had the united states government taken all of those units off the market, and really prevented prices from falling as sharply as they did, the net effect would have been far less own russ than what we have run into. so, yes, that particular strategy in retrospect, especially, turns out to have been the low cost strategy. does that mean it is viable politically? absolutely not. Continue reading »
- Welcome to the Recovery (New York Times, by Timothy Geithner, August 2, 2010)
- If it doesn’t do something about its underwater mortgages, America could sink without trace (Guardian, Oct. 2 2011):
Stimulating the economy is all very well in the short term. But the national legacy of unpayable property debt will weigh the US down for years
It’s now more than six years since Alan Greenspan, in the days when he was still known as the “maestro” of the world economy, conceded that there might be a little “froth”, perhaps even a few “local bubbles”, in the American housing market.
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. … This is the shabby secret of the welfare statists’ tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists’ antagonism toward the gold standard.”
- Alan Greenspan
“When a country embarks on deficit financing (Obamanomics) and inflationism (Quantitative easing = printing money = inflation) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
- Ron Paul
Happy US Weimar Republic!!! (Got gold and silver?)
- No Chance of Default, US Can Print Money: Greenspan (CNBC, Aug 7, 2011):
Former Federal Reserve Chairman Alan Greenspan on Sunday ruled out the chance of a US default following S&P’s decision to downgrade America’s credit rating.
“The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default” said Greenspan on NBC’s Meet the Press
“What I think the S&P thing did was to hit a nerve that there’s something basically bad going on, and it’s hit the self-esteem of the United States, the psyche” said Greenspan
Congress looked serious about finance reform – until America’s biggest banks unleashed an army of 2,000 paid lobbyists
(Rolling Stone Magazine) — It’s early May in Washington, and something very weird is in the air. As Chris Dodd, Harry Reid and the rest of the compulsive dealmakers in the Senate barrel toward the finish line of the Restoring American Financial Stability Act – the massive, year-in-the-making effort to clean up the Wall Street crime swamp – word starts to spread on Capitol Hill that somebody forgot to kill the important reforms in the bill. As of the first week in May, the legislation still contains aggressive measures that could cost once-indomitable behemoths like Goldman Sachs and JP Morgan Chase tens of billions of dollars. Somehow, the bill has escaped the usual Senate-whorehouse orgy of mutual back-scratching, fine-print compromises and freeway-wide loopholes that screw any chance of meaningful change.
The real shocker is a thing known among Senate insiders as “716.” This section of an amendment would force America’s banking giants to either forgo their access to the public teat they receive through the Federal Reserve’s discount window, or give up the insanely risky, casino-style bets they’ve been making on derivatives. That means no more pawning off predatory interest-rate swaps on suckers in Greece, no more gathering balls of subprime shit into incomprehensible debt deals, no more getting idiot bookies like AIG to wrap the crappy mortgages in phony insurance. In short, 716 would take a chain saw to one of Wall Street’s most lucrative profit centers: Five of America’s biggest banks (Goldman, JP Morgan, Bank of America, Morgan Stanley and Citigroup) raked in some $30 billion in over-the-counter derivatives last year. By some estimates, more than half of JP Morgan’s trading revenue between 2006 and 2008 came from such derivatives. If 716 goes through, it would be a veritable Hiroshima to the era of greed. Continue reading »
Tags: Alan Greenspan, Bank of America, Banking, Barack Obama, Ben Bernanke, Citigroup, Congress, Derivatives, Derivatives market, Economy, FDIC, Fed, Federal Reserve, Goldman Sachs, Government, JPMorgan, Law, Lobbyists, Morgan Stanley, Obama administration, Politics, Ron Paul, Senate, Sheila Bair, Timothy Geithner, U.S., Wall Street
Gold (and silver) is the real money of the elite. The elite really loves gold, everything else is worthless paper to them.
The elite only ‘fears’ and ‘hates’ gold because it shows that all those statements on recovery, green shoots, stimulus packages etc. made by their elite puppets (like Obama, Biden, Bernanke, Clinton, Brown, Darling, King, Merkel, Sarkozy, Berlusconi, Papandreou to name a few) are lies.
There is no recovery and there has nothing been done to help the people. Those elite puppets do everything in their power to loot and bankrupt the people and shovel taxpayer money into the hands of their elite masters.
Only 1 % of the people own gold, which means that the elite can rape 99 % of the people – that remain totally unprotected – with their plans and then present the New World Order as only solution.
“When a country embarks on deficit financing and inflationism you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
- Ron Paul
I highly recommend that you read Alan Greenspan’s famous essay on ‘Gold and Economic Freedom’ below.
Why There is Fear and Resentment of the Power of Gold to Discover Value in the Real Economy
There were a few questions raised about the note on the long term chart of the SP 500 deflated by gold which was posted last night, and which is reproduced here above, which read “This is why the financial engineers like Bernanke hate and fear gold; it defies their plans and powers.”
The chart shows something that most investors have suspected. There has been no genuine recovery in the price of stocks since the decline that cannot be fully explained by the monetary inflation of the dollar, as can be discovered by the ultimate store of value, which is gold.
I thought that this was a fairly straightforward observation, but it apparently jarred a few people and their thinking. So perhaps we have some new readers who are not familiar with the long standing animosity towards gold that is uniformly expressed by all those who promote centralized command and control economies, from both the left and the right. Continue reading »