Monday, January 20, 2014 19:11
(Before It\’s News)
China to Purchase the Federal Reserve
January 16, 2014 Leave a comment
The U.S. Government Defaulted in October, 2013.
In essence, China has been slowly buying up the Federal Reserve for some time now. If you can call it a purchase. Its more of a negotiation over assuming the liabilities of both the Federal Reserve and the U.S. Treasury.
Treasury: Debt Has Been Exactly $16,699,396,000,000.00 for 56 Days
cnsnews.com ^ | 7-15-13 | CNS News
Posted on Monday, July 15, 2013 8:50:09 PM by dynachrome
According to the Daily Treasury Statement for July 12, which the U.S. Treasury released this afternoon, the federal debt that is currently subject to a legal limit of $16,699,421,095,673.60 has stood at exactly $16,699,396,000,000.00 for 56 straight days.
That means that for 56 straight days the federal debt has remained approximately $25 million below the legal limit.
By Marilyn Barnewall
Thursday, May 23, 2013
Paul Volcker, Federal Reserve Chairman during the savings and loan crisis, was appointed to head an inquiry regarding the Paul Wolfowitz “affair” See Part I and the lack of a serious investigation by Volcker began an international questioning of honesty of American leadership.
Though most Americans view Volcker positively, his investigation did not address the corruption at the World Bank and as a result Europeans called for an end to the 66-year “Gentlemen’s Agreement” that allowed the US to appoint the President of the World Bank. The only amusing thing about those words is this: When it comes to corruption in government and finance, the only place dirtier than America is Europe.
Had the media reported Karen Hudes’ warnings to Congress and the Treasury Department about corruption at the World Bank, America could have avoided the resultant tarnish to its international reputation.The World Bank stands—much like a traffic cop—at numerous world intersections directing traffic—money traffic. It has 188 member nations and shares with the International Monetary Fund IMF a Board of Governors.
Was Kennedy assasinated because he wanted to end the Federal Reserve? – Federal Reserve Exposed on Real Time Bill Maher… ““The high office of the President has been used to foment a plot to destroy the American’s freedom and before I leave office, I must inform the citizens of this plight.” — President John Fitzgerald Kennedy – In a speech made to Columbia University on Nov. 12, 1963, ten days before his assassination!” // Current TV
“The high office of the President has been used to foment a plot to destroy the American’s freedom and before I leave office, I must inform the citizens of this plight.” — President John Fitzgerald Kennedy – In a speech made to Columbia University on Nov. 12, 1963, ten days before his assassination!
From The Final Call, Vol15, No.6, on January 17, 1996 (USA)
On June 4, 1963, a little known attempt was made to strip the Federal Reserve Bank of its power to loan money to the government at interest. On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the U.S. government the power to issue currency, without going through the Federal Reserve.
Mr. Kennedy‘s order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars in the Treasury.” This meant that for every ounce of silver in the U.S. Treasury‘s vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in U.S. notes into circulation. The ramifications of this bill are enormous.
By Al Benson Jr.
Dr. Paul Craig Roberts was the former head of policy at the Department of Treasury and was previously the editor of the Wall Street Journal. His latest book is How the Economy Was Lost. Over the years I have read his columns and always found him to be insightful and thought provoking.
Just this week he did a column called Agenda Prevails Over Truth and boy was he right on the money there. The article appeared on http://www.prisonplanet.com For the leftist lap dogs that prevail in what we call the “news” media agenda is everything. Truth is what fits the agenda and if it doesn’t fit the agenda it’s not truth. It’s as simple as that.
Freshman Sen. Rand Paul is making good on his promise to cut federal spending. The Kentucky Republican and tea-party favorite said Thursday he’s returning $500,000 to the U.S. Treasury — money from his operating budget that his office never spent.“I ran to stop the reckless spending. And I ran to end the damaging process of elected officials acting as errand boys, competing to see who could bring back the biggest check and the most amount of pork,” Paul said at a news conference in Louisville, where he presented taxpayers with a massive mock check for $500,000.
How Paulson Gave Hedge Funds Advance Warning … After a perfunctory discussion of the market turmoil, the fund manager says, the discussion turned to Fannie Mae and Freddie Mac. Paulson said he had erred by not punishing Bear Stearns shareholders more severely.
Obama Has Now Increased Debt More than All Presidents from George Washington Through George…..
Posted on Wednesday, October 05, 2011 3:11:31 PM by Sub-Driver
(CNSNews.com) – The Obama administration passed another fiscal milestone this week, according to new data released by the Treasury Department. As of the close of business on Oct. 3, the total national debt was $14,837,099,271,196.71—up about $44.8 billion from Sept. 30.
That means that in the less-than-three-years Obama has been in office, the federal debt has increased by $4.212 trillion–more than the total national debt of about $4.1672 trillion accumulated by all 41 U.S. presidents from George Washington through George H.W. Bush combined.
This $4.212-trillion increase in the national debt means that during Obama’s term the federal government has already borrowed about an additional $35,835 for every American household–or $44,980 for every full-time private sector worker. (According to the Census Bureau there are about 117,538,000 households in the country, and, according to the Bureau of Labor Statistics, there are about 93,641,000 full-time private sector workers.)
When Obama was inaugurated on Jan. 20, 2009, according to the Treasury Department, the total national debt stood at $10,626,877,048,913.08.
(Excerpt) Read more at cnsnews.com …
The End of the Phony Express, or: The USPS Goes Postal On Our Economy by Bill Walker
The End of the Phony Express, or: The USPS Goes Postal On Our Economy by Bill Walker:
It has a government-granted monopoly on first class mail. In 2007 an FTC report noted that the service does not pay taxes, including property tax on its 38,000 facilities; does not pay vehicle registration fees, and can borrow at subsidized interest rates from the U.S. Treasury.
And they do borrow… which is how they get away with claiming that they are “not subsidized”. They don’t get subsidies (except in some years, when they do), they just get loans… and more loans… and more loans.
Posted by Gunny G
Despite public statements that Fox News, which often has reported criticisms of President Obama, was granted the same access as other networks, the e-mails Judicial Watch obtained “provide evidence that FNC was specifically singled out for exclusion.”
According to one Oct. 22, 2009, e-mail exchange between Dag Vega, director of broadcast media on the White House staff, to Jenni LeCompte, then-assistant secretary for public affairs in the Treasury Department, Vega informs LeCompte that “…we’d prefer if you skip Fox please.”
WOULD THERE HAVE BEEN A “CIVIL WAR” IF BIG GOVERNMENT HADN’T COME FIRST?
The Debt Debate’s Real Doomsday Scenario
The Debt Debate’s Real Doomsday Scenario:
“On Tuesday, in the late morning, I asked a banker to explain what will happen if the debt ceiling is not raised on August 2. He was not just any banker; he was and is the authority on the U.S. bond market at one of the biggest banks in the world.
He is in touch with the Treasury Department, and the Treasury Department is in touch with him. When I asked the bank if I could speak to someone about the debt ceiling, it wouldn’t let me speak to anyone but him.
He is a good source, and what he told me should have calmed me down about this whole government-created government crisis, because what he told me was that even if Congress doesn’t raise the debt ceiling, the Treasury Department will not stop paying the interest on its debts.
(Excerpt) Read more at esquire.com …”
Posted by Gunny G at Thursday, July 14, 2011
War, Martial Law, and the Economic Crisis Excerpt from “The Global Economic Crisis: The Great Depression of the XXI Century” By Peter Dale Scott
War, Martial Law, and the Economic Crisis
Excerpt from “The Global Economic Crisis: The Great Depression of the XXI Century”
URL of this article: www.globalresearch.ca/index.php?context=va&aid=23354
Global Research, February 23, 2011
The following is an excerpt of a chapter by Peter Dale Scott from the new book by Global Research Publishers, “The Global Economic Crisis: The Great Depression of the XXI Century.”
Help us get the word out, “like” the book on Facebook, comment, and share with friends!
The U.S. Treasury’s Financial BailoutThe bailout measures of late 2008 may have consequences at least as grave for an open society as the response to 9/11 in 2001. Many members of Congress felt coerced at the time into voting against their inclinations, and the normal procedures for orderly consideration of a bill were dispensed with.
The excuse for bypassing normal legislative procedures was the existence of an emergency. But one of the most reprehensible features of the legislation, that allowed Treasury Secretary Henry Paulson to permit bailed-out institutions to use public money for exorbitant salaries and bonuses, was inserted by Paulson after the immediate crisis had passed.
According to Congressman Peter Welch (D-Vermont) the bailout bill originally called for a cap on executive salaries, but Paulson changed the requirement at the last minute. Welch and other members of Congress were enraged by “news that banks getting taxpayer-funded bailouts are still paying exorbitant salaries, bonuses, and other benefits.” In addition, as the Associated Press reported in October 2008, “Sen. Charles Schumer, D-N.Y. questioned allowing banks that accept bailout bucks to continue paying dividends on their common stock. ‘There are far better uses of taxpayer dollars than continuing dividend payments to shareholders,’ he said.”
Even more reprehensible is the fact that after the bailouts, Paulson and the Treasury Department refused to provide details of the Troubled Assets Relief Program (TARP) spending of hundreds of billions of dollars, while the New York Federal Reserve refused to provide information about its own bailout (using government-backed loans) that amounted to trillions. This lack of transparency was challenged by Fox TV in a FOIA suit against the Treasury Department, and a suit by Bloomberg News against the Fed.
The financial bailout legislation of September 2008 was only passed after members of both Congressional houses were warned that failure to act would threaten civil unrest and the imposition of martial law.
U.S. Sen. James Inhofe, R-Okla., and U.S. Rep. Brad Sherman, D-Calif., both said U.S. Treasury Secretary Henry Paulson brought up a worst-case scenario as he pushed for the Wall Street bailout in September. Paulson, former Goldman Sachs CEO, said that might even require a declaration of martial law, the two noted.
Here are the original remarks by Senator Inhofe:
Speaking on Tulsa Oklahoma’s 1170 KFAQ, when asked who was behind threats of martial law and civil unrest if the bailout bill failed, Senator James Inhofe named Treasury Secretary Henry Paulson as the source. “Somebody in D.C. was feeding you guys quite a story prior to the bailout, a story that if we didn’t do this we were going to see something on the scale of the depression, there were people talking about martial law being instituted, civil unrest… who was feeding you guys this stuff?,” asked host Pat Campbell. “That’s Henry Paulson,” responded Inhofe. “We had a conference call early on, it was on a Friday I think – a week and half before the vote on Oct. 1. So it would have been the middle… what was it – the 19th of September, we had a conference call. In this conference call – and I guess there’s no reason for me not to repeat what he said, but he said – he painted this picture you just described. He said, ‘This is serious. This is the most serious thing that we faced.’”
Rep. Brad Sherman (D-CA 27th District) reported the same threat on the Congressional floor:
The only way they can pass this bill is by creating a panic atmosphere… Many of us were told that the sky would fall… A few of us were even told that there would be martial law in America if we voted no. That’s what I call fear-mongering, unjustified, proven wrong.
So it is clear that threats of martial law were used to get this reprehensible bailout legislation passed. It also seems clear that Congress was told of a threat of martial law, not itself threatened. It is still entirely appropriate to link such talk to the Army’s rapid moves at the time to redefine its role as one of controlling the American people, not just protecting them. In a constitutional polity based on balance of powers, we have seen the emergence of a radical new military power that is as yet completely unbalanced.
Continuity of Operations (COOP)
The Army’s New Role in 2001: Not Protecting American Society, but Controlling It. This new role for the Army is not wholly unprecedented. The U.S. military had been training troops and police in “civil disturbance planning” for the last three decades. The master plan, Department of Defense Civil Disturbance Plan 55-2, or “Operation Garden Plot,” was developed in 1968 in response to the major protests and disturbances of the 1960s.
But on January 19, 2001, on the last day of the Clinton administration, the U.S. Army promulgated a new and permanent Continuity of Operations (COOP) Program. It encapsulated its difference from the preceding, externally oriented Army Survival, Recovery, and Reconstitution System (ASRRS) as follows:
a. In 1985, the Chief of Staff of the Army established the Army Survival, Recovery, and Reconstitution System (ASRRS) to ensure the continuity of essential Army missions and functions.
ASRRS doctrine was focused primarily on a response to the worst case 1980’s threat of a massive nuclear laydown on CONUS as a result of a confrontation with the Soviet Union.
b. The end of the Cold War and the breakup of the former Soviet Union significantly reduced the probability of a major nuclear attack on CONUS but the probability of other threats has increased. Army organizations must be prepared for any contingency with a potential for interruption of normal operations.
To emphasize that Army continuity of operations planning is now focused on the full all-hazards threat spectrum, the name “ASRRS” has been replaced by the more generic title “Continuity of Operations (COOP) Program.
This document embodied the secret Continuity of Government (COG) planning conducted secretly by Rumsfeld, Cheney and others through the 1980s and 1990s. This planning was initially for continuity measures in the event of a nuclear attack, but soon called for suspension of the Constitution, not just “after a nuclear war” but for any “national security emergency”. This was defined in Reagan’s Executive Order 12656 of November 18, 1988, as “any occurrence, including natural disaster, military attack, technological emergency, or other emergency, that seriously degrades or seriously threatens the national security of the United States.” The effect was to impose on domestic civil society the extreme measures once planned for a response to a nuclear attack from abroad. In like fashion, ARR 500-3 Regulation clarified that it was a plan for “the execution of mission-essential functions without unacceptable interruption during a national security or domestic emergency.”
Donald Rumsfeld, who as a private citizen had helped author the COG planning, promptly signed and implemented the revised ARR 500-3. Eight months later, on 9/11, Cheney and Rumsfeld implemented COG, a significant event of which we still know next to nothing. What we do know is that plans began almost immediately – as foreseen by COG planning the 1980s – to implement warrantless surveillance and detention of large numbers of civilians, and that in January 2002 the Pentagon submitted a proposal for deploying troops on American streets.
Eric BlairPrisonplanet.comFeb 5, 2011In the fall of 2008, during the lead up to the TARP bailout of the financial industry, Treasury Secretary Henry Paulson warned members of Congress that there will be Martial Law in America should they fail to pass the multi-trillion dollar looting of the taxpayer.
Well, despite the American public being overwhelmingly against the bailout, the blackmail worked and the banks got their money. If it worked once, why not try it again?With the economy no better off for having borrowed trillions to “stabilize” criminal financial institutions, the national debt ceiling is rapidly approaching. As some Republicans begin to float the notion of blocking this extension of credit, the Treasury Department, Democrats in Congress, and Ben Bernanke issued apocalyptic warnings clearly showing how pathetically fragile the U.S. economy is.These threats, reminiscent of Paulson’s 2008 ransom demands, once again appear to be offering two black-and-white choices: Armageddon or more debt.
The coordinated pitch for higher debt levels is echoing the same urgency as the TARP looting, as Treasury Secretary Geithner said the government is insolvent and will run out of money in about two months’ time unless Congress votes to raise the federal debt ceiling.
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Posted on Saturday, January 01, 2011 12:21:45 PM by DeaconBenjamin
The United States Postal Service announced this week that all future first class postage stamps sold will be the so-called “forever stamps” that have no face value but are guaranteed to cover the cost of mailing a first class letter, regardless of how high that cost may rise in the future. Currently these stamps are sold for 44 cents, but will increase in price if and when the Post Office hikes rates.
Apart from sounding the death knell of the one cent stamp, the news is interesting on two fronts: it provides insight into remarkably irresponsible government accounting, and it provides investors with the most attractive Federally-guaranteed inflation protected asset available on the market today.
Over the past fifty years, the USPS has raised the rates on first class postage 20 times. During that time the stamp prices have gone up more than 1,100%. Given the increasing frequency of rate hikes (three in the last four years) the Post Office claims it made the move to forever stamps to save money on printing costs and to increase customer convenience. The public seems to appreciate the product and has snapped up a staggering 28 billion forever stamps since they became available in 2007.
But the real reason behind the permanent switch is that it allows the Post Office to hide its insolvency behind phony accounting numbers, setting itself up for a massive taxpayer financed bailout in the not too distant future.
$2 Trillion False Flag At US TreasuryThe Fed’s Furtive FilchingBy Barry_M_Ferguson10-14-10 $2,000,000,000,000.00 dollars has been stolen from the US Treasury!! What happened? Who did it? Did they get away with it? The answers: A ‘false flag’ event, the Federal Reserve, and yes. The theft was planned. It started with a ‘false flag’ event in 2008. Much like the ‘false flag’ event of 2001 in which two planes somehow imploded three buildings, the false flag event of 2008 was a game changer.
As you remember, the big banks had bankrupted themselves with derivative driven debt issuance that could not be repaid. The financial system was in peril. Or, so we were led to believe. We were told by the Treasury Secretary at the time that ‘toxic illiquid assets were clogging up the system’ and preventing the lending process from working. They needed immediate assistance and that assistance could only come from the Federal Reserve. All we had to do was to surrender the Treasury. Our Congress complied and the false flag ruse had worked again.
The theft could proceed. The Fed then proceeded to buy the ‘toxic illiquid assets’ from the big banks. In all, it was about $1,250,000,000,000.00 in MBS Mortgage Backed Securities paper – give or take a few hundred billion. Where did they get the money? The Treasury printed it by increasing the debt by virtue of Treasury note issuance. Bear in mind that the Federal Reserve is a for-profit privately owned bank. Now they own a lot of bad paper. How did they complete the theft? At this time, let me bring in Mr. Brian Sack to the story. Mr. Sack is the executive vice-president of the markets group at the Federal Reserve Bank of New York. He is the manager of the System Open Market Account SOMA for the FOMC. Basically, he manages the trading for the Fed. Mr. Sack has a doctorate in economics from MIT. A word of foreshadow and caution. As I have written in the past, it seems that everyone that has served to screw up the economy has been spawned by MIT, Harvard, or U. Cal. Berkeley. I’m not hatin’ I’m just sayin’! Anyway, Mr. Sack just gave a presentation to the CFA Institute on October 4, 2010. Here is the link if you want the whole speech: http://www.ny.frb.org/newsevents/speeches/2010/sac101004.html. Mr. Sack explains the theft better than me…