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"The present Federal Reserve System is a flagrant
case of the US government conferring a special privilege upon bankers. The US
government hands to the banks its credit, at virtually no cost to the banks, to
be loaned out by the bankers for their own private profit. Our present money
system is a debt money system. Before a
dollar can circulate, a debt must be forged. Such a system assumes that you can
borrow yourself out of debt." - Willis A. Overholser
1911 Corporations are starting to finance
their own expansions out of profits instead of taking out huge loans. In the
first ten years of the century, 70% of corporate funding came from
profits.
Samuel
Untermeyer delivers the speech "Is There a Money Trust?".
Charles
August Lindbergh asserts that a banking trust existed within the United States
and that it should be investigated.
An 'educational' fund of $5,000,000
is set up to finance
academics at top universities to endorse the new central banking
plan.
The newly chartered central bank would be very similar to the
Bank of North America, in
that it would be given a monopoly over US currency and
create money without collateral backing.
In order to persuade the
public consciousness the "new" central banking system is under control of the
US government, the plan calls for the central bank to be run by a Board of
Governors appointed by the President and approved by the Senate.
"When
that monetary bill was given to the country, it was but a few days previous to
the meeting of the American Bankers Association in New Orleans in 1911. There
was not one banker in a hundred who had read that bill. We had twelve addresses
in favor of it." - Andrew Frame 1911
During the Pujo Money Trust
investigation Samuel
Untermeyer personally cross examines
JP Morgan and other
Wall Street investment
bankers.
The Pujo Money Trust Committee concludes:
Panic of 1907 started with the
closing of the Knickerbocker Trust when its clearing bank,
National Bank
of Commerce, refuses to act as its clearing agent anymore.
- that
clearing house associations are discriminating via minimum capital requirements
as well as predatory membership and discriminatory member policies.
-
predatory listing practices were forcing restrictions on both members and
non-members of the New York Stock Exchange as well as "unwholesome speculation" and
price manipulation by large groups colluding for profit and ultimately running
corporations out of business.
- consolidation of banks and interlocking
directorates (small group of the same men serving as directors on several
different boards) has led to increased wealth accumulation of 42.9% of banking
resources held by the twenty largest banks.
Investigators found that
180 individuals in 341 directorship positions in 112 corporations with
$22,245,000,000 in aggregate resources of capitalization.
At least
eighteen different major financial corporations were under the control of a
cartel led by John
Pierpont Morgan, George F. Baker and
James
Stillman.
At the turn of the century, these three men, through the
resources of seven banks and trust companies (Bankers Trust,
Guaranty Trust, Astor Trust, National Bank of
Commerce, Liberty National Bank, Chase National Bank, Farmer's
Loan and Trust) control an estimated $2.1 billion.
The report reveals
that a handful of men hold manipulative control of the New York Stock
Exchange.
The Pujo Report singles out individual
bankers including Paul
Warburg, Jacob Hirsch
Schiff, Felix
Warburg,
Frank
Peabody, William
Rockefeller and Benjamin
Strong.
Few know that the Tsars of Russia continually opposed a
central bank in Russia and supported
Abraham Lincoln
during the Civil War.
The
US-Russian Alliance that Saved the Union
1912 The Aldrich Bill is presented to Congress
for debate and quickly identified as a bill to benefit private central bankers.
"The Aldrich plan is the Wall Street plan. It means another panic, if
necessary, to intimidate the people. Aldrich, paid by the government to
represent the people, proposes a plan for the trusts instead." - Charles A.
Lindbergh
"Under the Aldrich Plan the bankers are to have local
associations and district associations, and when you have a local organization,
central control is assured. When
you have hooked the banks together, they can have the biggest influence of
anything in this country, with the exception of the
newspapers." - Leslie
Shaw
Republican leadership schism never brings the Aldrich Bill to a
vote.
During the Democratic presidential campaign,
Woodrow Wilson and the
leadership of the Democratic Party pretend to oppose the Aldrich Bill.
"The Aldrich Bill was condemned in the platform of Woodrow Wilson.
The men who ruled the Democratic Party promised the people that if they
were returned to power there would be no central bank established here.
Thirteen months later that promise was broken, Woodrow Wilson, under
the tutelage of sinister Wall Street figures who stood behind Edward Mandell
House, established in our free country the worm-eaten monarchical institution
of the, 'King' Bank,' to
control us from the top
downward,
and to shackle
us from the cradle to the grave." - Louis T. McFadden
"We object
to the Aldrich Bill on the following points:
Lack of adequate
government or public control of the mechanism it sets up.
Puts voting
control into the hands of the large banks of the system.
The extreme
danger of inflation of currency inherent in the system.
The insincerity
of the bond funding plan provided for by there being a barefaced pretense that
this system was to cost the government nothing.
The dangerous
monopolistic aspects of the bill." - Carter Glass
"The Federal Reserve was intended to promote price
stability, prevent financial panics and smooth out the amplitude of the
business cycle.
Ironically, and unbeknownst to most Americans, Federal
Reserve policy is enormously responsible for the boom-and-bust economic metric.
Interest rate reductions, money supply manipulation, currency
intervention, and interference in the private sector are not the marks of a
free-market economy." - Drew Klein 04/08 1913 John Pierpont Morgan,
Paul Warburg,
Bernard Mannes Baruch,
Edward Mandell
House advanced a new plan Paul Warburg calls the Federal Reserve
system.
The leadership of the Democratic Party hail this new bill, the
"Glass-Owen" bill, as totally different to the Aldrich Bill, when it is
virtually identical.
"Without Paul Warburg there would have been no
Federal Reserve Act.
The banking
house of Warburg and
Warburg in Hamburg has always been strictly a family business.
None
but a Warburg has been eligible for it, but all have been born into it.
In 1895 Paul Warburg married the daughter of the late
Solomon Loeb of Kuhn, Loeb &
Company. Paul Warburg became a member of Kuhn, Loeb & Company in
1902." - Harold Kelloch
"Paul Warburg is the man who got the Federal Reserve Act together
after the Aldrich Plan aroused nationwide resentment and
opposition.
The mastermind of both plans was
Baron Alfred de
Rothschild of London." - Col. Garrison, an agent of Brown
Brothers
"Brushing aside the external differences affecting the,
'shells,' we find the, 'kernals,' of the two systems very closely resembling
and related to one another." - Paul Warburg
Nelson Wilmarth Aldrich, and
Frank Vanderlip of National City Bank,
publicly state their opposition to the bill in order to make people believe
that the bill proposed is radically different from the Aldrich Bill.
Frank Vanderlip states years later in the Saturday Evening Post,
"Although the Aldrich Federal Reserve Plan was defeated when it bore the name
Aldrich, nevertheless its essential points were all contained in the plan that
finally was adopted."
"Congress should go slow on currency
legislation. The recent artificial
panic was to scare the country into forcing Congress to act quickly and
blindly.
They are unwilling to have a people's government."- Alfred
Owen Crozier
With Congress near a vote on the Glass-Owen
Alfred Crozier testified:
"The bill should prohibit the granting or
calling in of loans for the purpose of influencing quotation prices of
securities and contracting of loans or
increasing interest rates in concert
by the banks to influence public opinion or action of any legislative body.
The administration' currency bill grants what Wall Street and the big
banks, for twenty-five years have been striving for -
private control of currency.
It does
this as completely as the Aldrich Bill.
Both proposals rob the
government and the people of effective control over public money, and vest in
the banks exclusively the dangerous power to make money among the people scarce
or plenty.
The Aldrich Bill puts this power in one central bank.
The Administration Bill puts it in twelve regional central bank, all
owned exclusively by identical private interests that would have owned and
operated the Aldrich Bank.
President Garfield,
before his assassination declared, whoever controls the supply of currency
would control the business and activities of the people." - Alfred Crozier
1913
October
Congress passes a bill, authored by Nelson Wilmarth Aldrich,
legalizing a direct income tax of the
people - the 16th amendment.
The income tax law is fundamental to
the Federal Reserve system as
US
treasury bond debt needs a
source of income to retire that debt.
The only way to guarantee the
payment of interest on this US treasury
bond debt is to directly tax the people, like the
Bank of England.
If
the Fed had to rely on contributions from the States (like the UN), it would be
dealing with bigger entities, who could revolt and refuse to pay
interest.
According to
Bill Benson the 16th amendment was never legally ratified
.
December
19 Senate passed a version by a vote of 54-34. Over forty important
differences in the House and Senate versions remain to be settled.
"The
bill as it stands seems to me to open the way to
a vast inflation of currency. I do
not like to think that any law can be passed which will make it possible to
submerge the Gold Standard in
a flood of irredeemable
paper currency." - Henry Cabot Lodge Sr.
Opponents of the bill in
both houses of Congress were led to believe that many weeks would elapse before
the the Federal Reserve Act conference bill would be ready for consideration
and left town for Christmas.
December 22 Federal
Reserve Act is passed by the House 282-60 and the Senate 43-23.
"Centralization of credit in the banks of the
state, by means of a
national bank with state capital and
an exclusive
monopoly."
Point 5 Communist Manifesto,
Karl Heinrich
Marx
December 23,
1913
Woodrow Wilson signs the Federal
Reserve Act..
A comparative print of the Federal Reserve Act
as passed by the House of Representatives and amended by the Senate shows the
following change:
The Senate struck out, "To suspend the officials of
Federal Reserve banks for cause, stated in writing with opportunity of hearing,
require the removal of said official for incompetency, dereliction of duty,
fraud or deceit, such removal to be subject to approval by the President of the
United States."
Changed by the Senate to read "To suspend or remove any officer or director of
any Federal Reserve bank, the cause of such removal to be forthwith
communicated in writing by the Federal Reserve Board to the removed officer or
director and to said bank."
The signing of the Federal Reserve Act by
Woodrow Wilson represents the culmination of years of
collusion with his intimate friends, Edward Mandell House, Bernard Mannes
Baruch, Paul Warburg, et al.
"This Act establishes the
most gigantic trust on earth.
When the President signs this bill,
the invisible government of
the monetary power will be legalized." - Charles A Lindbergh
Sr.
$1 in 1776 = $29.44 in 2019
$20.00 in 1776 =
$588.80 in 2019
December 24 Jacob Hirsch Schiff to Edward Mandell
House:
"My dear Colonel House. I want to say a word to you for the
silent, but no doubt
effective work you have done in the interest of currency legislation and to
congratulate you that the measure has finally been enacted into law. I am with
good wishes, faithfully yours, Jacob Schiff."
"The first task of the Federal Reserve would be to finance the
World War.
The European
nations were already bankrupt,
because they had maintained
large standing armies for almost fifty years, a situation made by their own
central banks, and therefore they could not finance a war.
A central
bank always imposes a
tremendous burden on the nation for "rearmament" and "defense", in order to
create inextinguishable debt, simultaneously creating
a military dictatorship
and enslaving the people to pay the "interest" on the debt which the bankers
have artificially created." - Eustice Mullins
"Before passage of this
Act, the New York bankers could only dominate the reserves of New York. Now we
are able to dominate bank reserves of the entire country." -
Nelson
Wilmarth Aldrich
1914 At the start of World
War I the German Rothschilds loan
money to the Germans, the British
Rothschilds loan money to the British, and the
French Rothschilds loan money to
the French while the Federal Reserve provides liquidity with cash
infusions.
"To
cause high prices, all the Federal Reserve Board will do will be to lower the
rediscount rate, producing an expansion of credit and a rising stock market,
then when business men are adjusted to these conditions, it can check
prosperity in
mid-career by arbitrarily raising the rate of interest.
It can cause
the pendulum of a rising and falling market to swing gently back and forth by
slight changes in the discount rate, or cause violent fluctuations by a greater
rate variation, and in either case it will possess inside information as to
financial conditions and advance knowledge of the coming change, either up or
down.
Inflation and deflation work equally well." -
Charles A Lindbergh Sr.
Federal Reserve banks began operations on
November 16 with total assets listed at $143,000,000 garnered from the sale of
shares in the Federal Reserve banks to stockholders of the national banks which
subscribe.
It seems most
likely that from the very outset, the Federal Reserve operations were
"paper issued against paper": fungible bookkeeping entries in a ledger
comprised the only values which actually "changed hands."
The stock in
the original twelve regional Federal Reserve banks is purchased by national
banks in twelve regions.
The Federal Reserve Bank of New York
sets the interest rates and
directs open market
operations, controlling the daily supply and value of money.
Each
member bank of the Federal Reserve system owns nonnegotiable shares of stock in
its regional Federal Reserve Bank.
A 6% dividend is paid on the stock
to member banks which are all privately owned and operated through joint stock
incorporations.
Federal Reserve Board of Governors must approve Federal
Regional Bank presidents.
1916 Max Warburg
opens an account by cable at (Rothschilds) Nya Banken in Stockholm, Sweden for
Leon Trotsky.
1917
Woodrow Wilson calls for war on Germany.
With the entry of the US into
the World War I, Julius H. Barnes, a
grain salesman, and Prentiss Gray,
a lumber shipping clerk, are
given important posts in the new US Food Administration under Herbert
Hoover.
Julius H. Barnes became President of the Grain Corporation of
the US Food Administration and Prentiss Gray was chief of Marine
Transportation. G. A. Zabriskie, was named head of the US Sugar Equalization
Board.
All three - Julius H. Barnes, G. A. Zabriskie, Prentiss Gray -
were agents for J. Henry Schroder Banking Corporation in New
York
After the World War I, the partners of
J. Henry
Schroder owned most of Cuba's sugar industry.
ME Rionda was
president of Cuba Cane ,
director of Manati Sugar and American British and Continental Corporation, and
other firms.
Baron Bruno von Schroder, senior partner of the firm, is a
director of North British and Mercantile Insurance Company.
Baron
Rudolph von Schroder of Hamburg, is a director of Sao Paulo Coffee, the largest
Brazilian coffee companies, with F.C. Tiarks, also of
Schroder.
March 4,
1918 Woodrow Wilson appoints Bernard Baruch chairman of the
War Industries Board.
According to historian, James Perloff, Bernard Baruch profited by
approximately 200 million dollars during World War I.
"If one
understands that socialism is
not a share-the-wealth
program, but it is in reality a method to consolidate and control the
wealth, then the seeming paradox of super-rich men
promoting socialism becomes
no paradox at all.
Instead it becomes logical, the perfect tool of
power seeking
meglomaniacs.
Communism, or more accurately
socialism, is not a movement of the downtrodden masses, but of the economic
elite." - Gary Allen
1919
Paris Peace
Conference takes place at the end of World War I.
"No country
can afford to have its prosperity originated by a small controlling class." -
Woodrow Wilson
"Half a dozen men at the top of the Big Five Banks
could upset the whole fabric of government finance by refraining from renewing
Treasury Bills." - London Financial Times 19211921
Warren G. Harding is selected President of the United States, and succeeds
Woodrow Wilson.
This begins the period which becomes known as the,
"Roaring Twenties."
Despite the fact that World War I had saddled
America with debt ten times larger than the Civil War debt, the US economy
grows.
Andrew William
Mellon is Secretary of the Treasury.
Gold pours into America during the war and
continues to during the 1920's.
Warren G. Harding reduced taxes
domestically, and increased
tariffs on imports to record levels.
"If our nation can issue a dollar bond, it can
issue a dollar bill.
The element that makes the bond good, makes
the bill good.
It is absurd to say that our country can issue 30 million
dollars in bonds and not 30 million dollars in currency.
Both are
promises to pay, but one promise fattens the usurers and the other helps the
people." - Thomas
Edison, December 6, 1921 New York
Times
"The warning of
Theodore Roosevelt
has much timeliness today, for the
real menace of our republic is this
invisible government which
like a giant octopus sprawls its slimy length over city, state, and nation.
It seizes in powerful
tentacles executive
officers, legislative
bodies, schools,
courts,
newspapers, and
every agency created for the
public protection.
To depart from mere generalizations, let me say
that at the head of this
octopus are the Rockefeller-Standard Oil interest
and a small group of
powerful banking houses generally referred to as
international
bankers.
They practically control both parties,
write political platforms,
make catspaws of party
leaders, use the leading men of private organizations, and resort to every
device to place in nomination for high public office only such candidates as
will be amenable to the dictates of corrupt big business.
These
international bankers
and Rockefeller-Standard
Oil interests control the majority of newspapers and magazines in this
country." - John Hylan, Mayor of New York, March 26, 1922 New York Times
"The
Jews are responsible for Bolshevism in Russia, and Germany too.
I was
far too indulgent with them during my reign, and I bitterly regret the favors I
showed the prominent Jewish bankers."- German Kaiser Wilhelm II Chicago
Tribune July 2, 1922
1923 Warren G.
Harding dies under mysterious circumstances.
Appearances suggest food
poisoning or a stroke - no autopsy is performed.
Warren G. Harding is
succeeded by his Vice-President Calvin Coolidge.
Calvin Coolidge continues the
tax cutting and tariff raising
policies.
This policy is so successful the economy continues to
grow, and the huge Federal debt built up during World War I, is reduced by
38%.
Federal Reserve begins increasing the money supply by
62%.
1927
Bank of England Governor Montagu Norman,
Benjamin Strong of the Federal Reserve
Bank of New York, and Hjalmar Schacht of the
Reichsbank, meet in conference.
Federal Reserve bails out the Bank of
England by increasing the money
supply through cheap loans.
These cheap loans are used to purchase
stock on margin sending the gold flowing back into the coffers of the
Bank of England by
reducing the value of the American dollar in relation to the British
pound(£).
"I think it can hardly be disputed that the
statesmen and financiers of Europe are ready to take almost any means to
reacquire rapidly the gold stock which Europe lost to America as a result of
World War I." - Louis T.
McFadden, February 1931
"In the 1920s, the US experienced a
stock market boom, which was a result of the commercial banks providing funds
for the purchase of stock and took the latter as collateral, creating
a
massive wave of underwriting and purchasing of securities.
The
stock market speculation that
followed was the result of the banks borrowing substantially from the Federal
Reserve. The Federal Reserve System financed the great stock market boom." -
Andrew Gavin Marshall
1929
Andrew William Mellon, Herbert Hoover's
Secretary of the Treasury, spent much of the time overseas between 1929-31
purportedly negotiating for repayment of European war debts from World War I.
Mellon served as a director of the Pittsburgh National Bank of
Commerce.
Mellon advises Herbert Hoover:
"Liquidate labor, liquidate stocks, liquidate farmers, liquidate real
estate, it will purge the rottenness out of the system. High costs of living
and high living will come down. People will work harder, live a more moral
life. Values will be adjusted, and enterprising people will pick up from less
competent people."
Mellon is the 3rd wealthiest man in America after
Rockefeller and Ford.
Paul
Warburg sends out a warning that a collapse and
nationwide depression are
set in motion for later that year.
In August the Federal Reserve begins
to tighten the money supply.
On 24th October New York bankers call in their 24 hour broker call
loans.
"The New York financiers started calling 24 hour broker call
loans.
This meant that the stockbrokers and the customers had to dump
their stock on the market in order to pay the loans.
This naturally
collapsed the stock market and brought a banking collapse because the
banks not owned by the oligarchy were
heavily involved in broker call claims and bank runs soon exhausted their coin
and currency.
The Federal Reserve system would not come to their aid,
although they were instructed by law to maintain an elastic currency." -
William Jennings Bryan
"At the height of the selling frenzy
Bernard Mannes Baruch
brought Winston
Churchill into the visitors gallery of the New York Stock Exchange to
witness the panic and impress him with his power over the wild events on the
floor." - John Kenneth
Galbraith, The Great Crash 1929
"Actually, it was the
calculated 'shearing' of the public by the
Money Power triggered by the
planned sudden shortage of call money in the New York Money Market." -
Curtis B. Dall
Curtis B. Dall, son-in-law of
Franklin D
Roosevelt, was a Lehman Brothers broker
on the floor of the New York Stock Exchange on the day of the
crash.
"Those who controlled private
capital largely walked away from the US economy for the entire 1930s, refusing
to pump in enough new investment even to replace the machinery and
goods-in-process that were consumed during the
decade." - Robert P. Murphy
1931
Brown Brothers merges with
two other business entities, Harriman Brothers and WA Harriman.
1929 to 1933 Despite claims of the Federal Reserve protecting
the country against depressions and inflation, the
money supply is reduced by
an additional 33%.
"The Federal Reserve definitely caused the
Great Depression by
contracting the amount of currency in circulation by one-third from 1929 to
1933." - Milton Friedman, radio interview January 1996
In only a few
weeks from the day of the crash, 3 billion dollars of wealth vanished.
Within a year, 40 billion dollars of wealth vanish.
It did not
disappear, it just ended up consolidated in fewer and fewer
hands.
Emergency Banking Act of March 9,
1933
"The Federal Reserve Board has
pumped so many millions of
dollars into Germany that they dare not name the total." - Louis T.
McFadden, Chairman House Banking & Currency Committee
General
Motors, General Electric,
DuPont were intimately related to the growth of the Nazi war armaments industry
and profited handsomely.
The money pumped into Germany for World War II,
was pumped into German banks affiliated with
the Harriman interest in New
York.
1989
Representative Henry Gonzalez, of Texas, introduces House Resolution 1469,
calling for the abolition of the Fed
Open Market Committee of the Federal Reserve system.
He also
introduced House Resolution 1470, calling for the repeal of the Federal Reserve
Act of 1913.
During the same session, Representative Phil Crane of
Illinois, introduced H.R. 70, calls for an annual audit of the Federal Reserve.
These efforts fail.
Americans are told to believe that the
deaths of Senator John
Heinz (outspoken Vietnam War
critic), Senator John Tower (investigated the Reagan/Bush era Iran-Contra
scandal) and Senator Paul Wellstone (against repeal of Glass-Steagall) in
separate airplane crashes were "coincidence."
1991 "John Tower had been an outspoken critic of
the Establishment.
John Tower had a very strong sense of
right and wrong,
particularly on matters concerning
national
security.
He was well known for "bucking" the tide.
This
backfired on him with deadly results when certain members of Congress, loyal to
the Reagan and Bush
faction of the Intelligence Community, banded together against him in a smear
campaign which resulted in the denial of Tower's confirmation as Secretary of
Defense.
Outraged over the undocumented allegation made to slander his
name, Tower began the book writing process so feared in Washington circles.
His controversial book heavily criticizes his old crony pals in
Congress.
John Tower died in a plane crash on April 5, 1991.
One day earlier on April 4, 1991, Senator John Heinz died in a blazing
plane crash near Philadelphia.
The official reports state the plane's
landing gear suddenly malfunctioned.
A helicopter was sent up to check
out the gear, only to end up (allegedly) crashing into the plane itself." -
Alexander James
"Scores of banks failed in
the Great Depression as a result of unsound banking practices, and their
failure only deepened the crisis.
Glass-Steagall was intended to protect our
financial system by insulating commercial banking from other forms of risk.
It was one of several stabilizers designed to keep the tragedy from
recurring.
Now Congress is about to
repeal that economic stabilizer
without putting any comparable safeguard in its place." -
Senator Paul
Wellstone
2002 "In the last decade reserve balances have fallen
dramatically.
The decline stems from
regulatory action: the
Federal Reserve eliminated reserve requirements on large time deposits in
1990 and lowered the
requirements on transaction accounts in 1992.
The decline in required
reserves was caused by growth of sweep accounts.
In the most common
form of sweeping, retail checking account funds are shifted overnight into
savings accounts exempt from reserve requirements and then returned to
customers' checking accounts the next business day.
Largely as a result
of this practice, today only 30% of banks are bound by a
reserve balance
requirement." - Federal Reserve Bank of New York, 2002
Senator Paul
Wellstone dies a plane crash on 25 October 2002, 11 days before he was to stand
in the midterm US senate election.
Wellstone's upset victory in 1990
and subsequent re-election in 1996 was credited to a massive grassroots
campaign, which inspired college
students, poor people and
minorities to get involved
in politics for the very first time.
Paul David Wellstone was
accussed of being apostate
for marrying a Gentile and not
raising his children in the Jewish faith.
His death came just 11 days
before his potential re-election in a crucial race to maintain Democratic
control of the Senate.
Senator John Heinz and
Senator John Tower served on Senate banking and finance committees and, having
been members of the Council on Foreign Relations,
saw plans for world tyranny
through foreign policy.
2005 Treasury Department figures
show that from 1776 - 2000, all the previous American Presidents borrowed a
total of $1.01 trillion dollars.
Between 2001 and 2005 the Bush
administration borrowed $1.05 trillion.
2008
Chairman of
the Federal Reserve Board, Ben Salom Bernanke, testifies:
"A recession
is not on the horizon, but quick passage of an economic stimulus package plus
aggressive action by the Federal Reserve are the appropriate prescription for
the ailing economy."
By March 2008,
all of the major US
investment banks have either merged with commercial banks, failed, or
voluntarily placed themselves under Federal Reserve control.
"It
could be argued that the Fed appears to be rescuing those who caused the
problem at the expense of others who had nothing to do with it.
The
government has already established a major ownership position in the financial
services industry." - Mark Jickling, November 24, 2008
"Even though
the Federal Reserve is now the biggest single participant in the financial
system, the myth of a "free
market" still lingers on.
The Fed has
expanded its balance sheet by $2 trillion,
guaranteed $8.5 trillion of toxic
mortgage backed paper, provided a backstop for commercial paper,
bank deposits, money markets,
and created 8 lending facilities to
ensure underwater financial institutions still appear to be solvent.
The whole system is a state
subsidized operation buoyed on a
taxpayer provided flotation
device which bears no resemblance to
an invisible hand.
It's flagrant blackmail and
everyone knows it.
It's an attempt to reignite spending by goosing the market.
When consumers can't
sustain demand, the government has to step in.
The real worry is Bernanke's pet theory
is merely an academic pipe-dream.
His strategy is based on a
controversial reading of history only accepted by
disciples of Milton
Friedman." - Mike Whitney December 9, 2008
At one point the
Board of Governors were:
* Ben
Salom Bernanke, Chairman
* Donald Kohn, Vice-Chairman
* Frederic
Mishkin
* Kevin Warsh (married to Jane Lauder*)
*Randall Kroszner*
(American
Enterprise Institute affiliate)
2009
Bank of England
gives itself £ 75 billion, with
a fungible entry and a click
of the mouse, to purchase its own outstanding
bonds.
"And every practical man - every man who knows the scene of
action - will agree that our system of banking, based on a single reserve in
the Bank of England, cannot
be altered, or a system of many banks, each keeping its own reserve, be
substituted for it. Nothing but a revolution would effect it, and there is
nothing to cause a revolution." - Walter Bagehot, Lombard Street: A
Description of the Money Market, 1873
2019
The interbank rate is 2.5%.
Basically there are four
investment funds – the Big Four – that control the US economy:
BlackRock, Vanguard
Group, State Street, Fidelity.
The 8 largest US
financial companies – JP
Morgan, Wells Fargo,
Bank of America,
Citigroup,
Goldman Sachs,
Bancorp, Bank of New York Mellon
and Morgan Stanley – are 100%
controlled by ten shareholders.
The “big four” are major
shareholders in all of these 8 financial institutions.
Some of the
major companies controlled by the Big Four include:
Altria Group, AT&T,
Hewlett-Packard, Home Depot, Intel, United Technologies,
Alcoa,
American International
Group, Boeing,
Caterpillar,
Coca-Cola,
DuPont,
ExxonMobil,
General Electric,
General Motors,
Honeywell
International, International
Business Machines, Johnson &
Johnson, JP Morgan Chase,
McDonald's,
Merck,
Microsoft,
3M,
Pfizer,
Procter & Gamble,
Verizon,
Wal-Mart Stores,
Time Warner,
Walt Disney,
Viacom,
News Corp,
CBS, NBC
Universal
2020 The interbank rate, the rate
of interest charged on short-term loans made between US banks, is
1.75%.
Meet BlackRock, Great Vampire Squid, “Global Financial
Giant” |
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This web site is not a commercial web site and
is presented for educational purposes only.
This website defines a
new perspective with which to engage reality to which its author adheres. The
author feels that the falsification of reality outside personal experience has
forged a populace unable to discern propaganda from reality and that this has
been done purposefully by an international corporate cartel through their
agents who wish to foist a corrupt version of reality on the human race.
Religious intolerance occurs when any group refuses to tolerate religious
practices, religious beliefs or persons due to their philosophical ideology.
This web site marks the founding of a system of philosophy named The Truth of
the Way of the Lumière Infinie - a rational gnostic mystery religion
based on reason which requires no leap of faith, accepts no tithes, has no
supreme leader, no church buildings and in which each and every individual is
encouraged to develop a personal relation with the Creator and Sustainer
through the pursuit of the knowledge of reality in the hope of curing the
spiritual corruption that has enveloped the human spirit. The tenets of The
Truth of the Way of the Lumière Infinie are spelled out in detail on
this web site by the author. Violent acts against individuals due to their
religious beliefs in America is considered a "hate crime."
This web site
in no way condones violence. To the contrary the intent here is to reduce the
violence that is already occurring due to the international corporate cartels
desire to control the human race. The international corporate cartel already
controls the world central banking system, corporate media worldwide, the
global industrial military entertainment complex and is responsible for the
collapse of morals, the elevation of self-centered behavior and the destruction
of global ecosystems. Civilization is based on coöperation.
Coöperation does not occur at the point of a gun.
American social
mores and values have declined precipitously over the last century as the
corrupt international cartel has garnered more and more power. This power rests
in the ability to deceive the populace in general through corporate media by
pressing emotional buttons which have been preprogrammed into the population
through prior corporate media psychological operations. The results have been
the destruction of the family and the destruction of social structures that do
not adhere to the corrupt international elites vision of a perfect world.
Through distraction and coercion the direction of thought of the bulk of the
population has been directed toward solutions proposed by the corrupt
international elite that further consolidates their power and which further
their purposes.
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the views and opinions of individual human men and women that, through their
writings, showed the capacity for intelligent, reasonable, rational, insightful
and unpopular thought. All factual information presented on this web site is
believed to be true and accurate and is presented as originally presented in
print media which may or may not have originally presented the facts
truthfully. Opinion
and thoughts have been adapted, edited, corrected, redacted, combined, added
to, re-edited and re-corrected as nearly all opinion and thought has been
throughout time but has been done so in the spirit of the original writer with
the intent of making his or her thoughts and opinions clearer and relevant to
the reader in the present time.
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 Copyright
© Lawrence Turner
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