Archive for November, 2013

Media Perpetuates the Myth that Fed is Part of Govt

Open Letter to the Media:

In light of all the recent lies being told by government officials (i.e. Obamacare, Benghazi, NSA, manipulation of the unemployment rate prior to 2012 election, etc, etc, etc.); I thought it would be appropriate to ask the question about the biggest lie of all: Why do you perpetuate the fraud that the Fed is a part of the govt?

With the 100-year anniversary of the Federal Reserve fraud upon us, I thought I would pose this simple question to see if you are with us or against us. Don’t you think it would be worthwhile for the general public to know that the Federal Reserve, which so many seem to rely on for our economic salvation, is NOT part of government?  Do you think that if the general public knew that the Fed is nothing more than a banking cartel, it might explain the ineffectiveness of policies like QE?

I suppose since you never breathed a word about the NSA vacuuming up every bit of data on “free” people, even though you knew it was happening years before Snowden pulled back the curtain, I have little confidence in you even so much as parting your lips on this topic, except when you drop to your knees in front of your banker or boss.

You have not exposed this fraud at every opportunity. Therefore, one can only assume you’re against us. I hope you will prove me wrong, because without a free press, the needed reforms will only come after we crash and burn. Even if your only benefit from remaining mum is keeping your job, this proves your ethics are no better than the banksters that sold the dog sh*t that credit rating agencies knew was not AAA (yea, that would be the fraud that just caused JPM to get hit with the largest fine ever – $13 billion, but once again resulted in NO jail time and NO claw-back of bonuses).

Paying the govt back with govt printed money that’s been handed over to JPM, is the same MO as the much hyped payback of govt bailout funds to GM that were paid back with additional “loans” from the govt. $4 billion of the $13 billion fine against JPM was alloted for injured homeowners, and is to be paid in “communittee service like” credits. I would love to see the list of tasks that qualify as credits. I can see it now, a $100,000 credit for returning the phone call of a homeowner seeking a mortgage modification…but I digress.

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Proof: Fed’s Allegiance is to Banks, not Main Street

Anyone that has read “The Creature From Jekyll Island” already knows that the Fed is NOT part of government. Contrary to popular belief, propagated by a captured media and Congress, the Fed is nothing more than a banking cartel, initiated to protect and enrich the big, money-center banks. Their success has come directly on the backs of taxpayers and citizens (and govt’s) of the world that are forced to hold dollars, whether for currency transactions or for parking reserves.

In a Wall Street Journal article yesterday, a former Fed employee comes clean on the true intent behind TARP (bank bailout) and the QE programs initiated by the Fed to supposedly rescue the economy. Karl Denninger makes some well-informed comments on the piece, but fails to mention one thing.

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The Choice is Simple: Defy History and Act Proactively

As Matt Taibbi accurately points out again, this time with currency manipulation, the non-prosecution of bank fraud will ultimately destroy the banks and western govt’s. The cascade of cost-of-doing-business penalties will give way to derivative defaults that ultimately blow up the banks.

Like the Jews under Nazi Germany, Main Street outnumbers the fraudsters on Wall Street and Washington by thousands to one, yet they obediently pile into rail cars that lead them to certain economic suicide. Why? I suppose fear and pain are similar to fatigue, which as Vince Lombard said, makes cowards of us all.

Karl Denninger, who have been shouting from the mountain top for over a decade, has capitulated in disgust over the complacency of the American public. Denninger is one of the most intelligent bloggers I have followed over the years, but his rant of frustration proves that even the smartest among us still has much to learn.

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