Infowars - October 19, 2008
Robert Marion LaFollette (1855-1925) delivered the following speech in the Senate on March 17, 1908, in response to Senate bill 3023 to amend the national banking laws.
Carl Teichrib - October 2008
Watching the markets and thinking through the possibilities, two interlocking phrases immediately come to mind: Ordo ab Chaos, and Crisis Equals Opportunity. Ordo ab Chao is a Latin phrase and the motto of the Thirty-Third Degree of Freemasonry. It means, “Order out of Chaos.”
This expression portrays a simple message. Out of the chaos of extreme crisis comes a time when everything is re-made, and order is restored. But you must understand; just because order has been established, it doesn’t mean that the world is the same as it was before the catastrophe. It won’t be; it can’t be.
For those who have lost a home to fire, you know that eventually organization returns to your life. However, you also know that your world has been changed forever; it’s not as it was before that fateful day. Likewise, as our smoldering, global financial house catches flame (in my estimation it’s only in the beginning stages), a new edifice will be introduced after the conflagration is over. But it won’t be the same structure.
Something else must be considered: the house doesn’t have to be utterly razed. At some point during the fire, the house could be closed-up for a short time. Then, while the world waits with abated breath, a new building would be unveiled from behind the smoke. In our desire for safety the world would abandon the old house and flee to the new, safer looking structure.
Is this possible? Remember, Crisis Equals Opportunity, and Order will arise after Chaos.
Jonathan Tirone - Oct. 19
European Central Bank council member Ewald Nowotny said a “tri-polar” global currency system is developing between Asia, Europe and the U.S. and that he’s skeptical the U.S. dollar’s centrality can be revived.
“What I see is a system where we have more centers of gravity” Nowotny said today in an interview with Austrian state broadcaster ORF-TV. “I see for the future a tri-polar development, and I don’t think that there will be fixed exchange rates between these poles.”
The leaders of the U.S., France and the European Commission will ask other world leaders to join in a series of summits on the global financial crisis beginning in the U.S. soon after the Nov. 4 presidential election, President George W. Bush, French President Nicolas Sarkozy and European Commission President Jose Barroso said in a joint statement yesterday.
Patrice Rassou - 16 October 2008
A NEW world banking order is taking shape. Many proud, independent financial institutions with century-old legacies are being bought out. With a crisis made in the US and with its roots in Wall Street, the standalone investment banking model seems dead. Only Goldman Sachs and Morgan Stanley are likely to survive, but not before engineering some form of tie-up with a commercial bank.
Jim Willie CB - Oct 16, 2008
The tag team of JPMorgan as the monster and Goldman Sachs as its harlot represent a powerful pair that is more responsible for destroying the entire US financial system than 95% of the American public has any awareness. The colossus of JPMorgan is a monster, a predator, nurtured by pond scum. It has gobbled up Chase Manhattan, Manufacturers Hanover, Chemical Bank, Bank One, and more over the past two decades. Their profound presence in keeping the USTreasury Bond yields down can never be understated. They do so by managing 85% of the credit derivatives on the planet. They distorted usury prices, as in price of borrowed money, thus aggravating the LIBOR (London InterBank Offered Rate) market in a very visible manner.
The oblong usury prices have contributed mightily to the destruction of the US Economy itself, created bubbles, killed jobs, and wrecked savings. The ugliest hidden activity for the JPMorgan monster is to manage the Bank of Baghdad, where they manipulate the crude oil price, where drug trafficking money is funneled from Afghan sales, under management by the US Military aegis (guys with no uniform stripes or markings). Maybe such illicit money offsets Credit Default Swap losses, making America strong for freedom and liberty. Goldman Sachs is clearly the investment banking agent for the USGovt, given the privilege of insider trading in unspeakable proportions.
A Simple Glance at the Geo-Economic Structure
Last Friday I called in to the Alex Jones Show and spoke with Alex and Bob Chapman about the Group of 30. The discussion was essentially as follows: two semesters ago, the head of the economic department at my university gave a lecture on the EU economy and the Euro. In fact, after a few prodding questions from myself, she related that the EU set-up was similar to our privately owned Federal Reserve system in the US. I asked her why a system of privately owned banks is in charge of the issuance of currency, and, as most status quo partisans echo, she stated that it was for “economic stability.”
Joan Veon - October 13, 2008
Transferring wealth through the myth of buying and holding an investment
When I was a college student, I had a gall bladder attack late in the evening and went to the Emergency Room. There a good looking intern became my temporary doctor. Not only did he check me out, but he called in 3 or 4 of his colleagues to also check me out. It was not until 10 years ago, that I realized I had been severely violated in the name of medicine by four young men looking for fun during their shift.
The American people have just been severely violated in the name of the 2008 Credit Crisis. In the arena of investing, the concept of “buying and holding” a security has been gold. The idea being that the “market always comes back.” However, the problem is that you have to wait for the market to come back which may take years and you might break even. Last Friday one of the business channels interviewed a financial expert said that buy and hold was best. How could she even think that when stocks dropped 18% for the week? And the month before, they dropped 20%. Friday, October 10, saw a new historic high and low in intraday market swings totaling over 1000 points. Maybe if we use inflation, it is equal to the October 1987 market crash of 500 points. However, both the market and you and I are in new territory. For those of us who did not live during the Great Depression, this is new.
The market is worth more than $516 trillion, (£303 trillion), roughly 10 times the value of the entire world’s output: it’s been called the “ticking time-bomb”.
Margareta Pagano and Simon Evan - 12 October 2008
It’s a market in which the lead protagonists – typically aggressive, highly educated, and now wealthy young men – have flourished in the derivatives boom. But it’s a market that is set to come to a crashing halt – the Great Unwind has begun.
Last week the beginning of the end started for many hedge funds with the combination of diving market values and worried investors pulling out their cash for safer climes.
Some of the world’s biggest hedge funds – SAC Capital, Lone Pine and Tiger Global – all revealed they were sitting on double-digit losses this year. September’s falls wiped out any profits made in the rest of the year. Polygon, once a darling of the London hedge fund circuit, last week said it was capping the basic salaries of its managers to £100,000 each. Not bad for the average punter but some way off the tens of millions plundered by these hotshots during the good times. But few will be shedding any tears.
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Lindsay McIntosh - 09 October 2008
IT WAS a day of desperate global action, unprecedented in both scale and cost, intended to stymie the international devastation being wrought by the financial crisis.
As the London stock market steeled itself to open again following days of vicious battering, Alistair Darling, the Chancellor, rose to stake the future of the country and the Cabinet on an audacious £500 billion banking bail-out.
And barely had the City begun to digest the hugely complex and unorthodox scheme when it was sent reeling again by an unscheduled interest rate cut – mirrored across the world – by the Monetary Policy Committee. It was the first such co-ordinated approach since the 9/11 terrorist attacks in 2001 – yet another indicator, had one been needed, of the gravity of the situation.
The half percentage point drop was immediately passed on to millions of borrowers, with leading high-street banks cutting their mortgages.
The government’s scheme, a three-part plan which takes in short, medium and long-term measures, was welcomed by business leaders and analysts.
David Kern, adviser to the British Chamber of Commerce, said: “The government has taken a radical step, but it is one we welcome.”
But there was concern a phenomenal amount of taxpayers’ cash was being staked on a last-ditch measure that could fail. The Taxpayers’ Alliance accused ministers of failing to address other options first.
Meanwhile, the International Monetary Fund (IMF) issued a fresh warning that Britain was on the brink of recession.
William N. Grigg - October 07, 2008
The October Revolution of 2008 will prove to be at least as consequential as the one that occurred in Russia in 1917.
Beginning immediately after 9-11, George W. Bush and the cabal he represents began the controlled implosion of the hollowed-out shell of our once-sturdy republic. Last week the final phase of that demolition project got underway.
By using monetary inflation as a sapping device, the FED is knocking down the few federalist pillars that, at least in theory, separated the various layers of government. It is also preparing to nationalize key segments of the commercial economy. All of this is being done through the FED’s New Deal era “emergency powers” to extend “credit” to any entity it chooses, whether governmental, commercial, or “public-private partnership.”
The revolution of 1913-1933, which inflicted the Federal Reserve, income tax, and the New Deal apparatus upon the United States, left us with a system Mussolini described as a “corporate state,” more commonly known as Fascism.
With war raging across the globe in July 1944, ministers from all 44 Allied nations met at the imposing Mount Washington Hotel in Bretton Woods, New Hampshire, to thrash out a set of rules that would govern world finance once Hitler was defeated.
Gordon Rayner - 08 Oct 2008
Knowing that greater international trade would help to prevent future wars, and determined to avoid another Great Depression, the delegates signed the Bretton Woods Agreements, creating the International Monetary Fund and the World Bank. It was a big vision, driven by grand historical figures: Winston Churchill, Franklin D Roosevelt and the British economist John Maynard Keynes.
But a system that was designed 64 years ago has, not surprisingly, proved ill equipped to deal with the fiendishly complex practices of 21st-century banking that led to the current worldwide crisis.
Neither the IMF, the World Bank nor any other institution has the power to police the global financial system in a way that might have prevented the excessive risk-taking which led to the sub-prime mortgage crisis and, in turn, the credit crunch.
A more recent creation, the G8 group of industrialised nations, looks hopelessly out of date without the emerging economic giants of Brazil, India and China among its ranks. And the “beggar-thy-neighbour” policies of guaranteeing savings that have sprung up in Germany, Greece and Ireland in recent days have shown that even in Europe, co-ordinated economic policy is a myth.
“The current system is in crisis and we have an environment where dog eats dog,” said Bob McKee, of the economic consultancy Independent Strategy. “Electorates will expect more regulation, and politicians will push for it.”
The new Business Secretary, Peter Mandelson, argued last week that new global solutions are needed because “the machinery of global economic governance barely exists”, adding: “It is time for a Bretton Woods for this century.”
Mike Adams - October 08, 2008
(NaturalNews) In 1942, German intelligence officers rounded up skilled Jewish prisoners and launched Operation Bernhardt, a clever scheme designed to counterfeit hundreds of millions of dollars worth of British Pounds and destroy the British economy by flooding it with counterfeit money. Located in the Sachsenhausen concentration camp, Operation Bernhardt was, even by modern standards, a runaway success that resulted in the creation of forged bank notes worth 132 million British Pounds.
This “economic warfare” operation resulted in a devastating economic effect on the British economy. You can read the true history of this operation here: http://en.wikipedia.org/wiki/Operation_…
It is important to note that Operation Bernhardt was an act of war, specifically pursued for the purpose of destroying Britain’s economy by creating so much new money that the value of the money already in circulation would plummet. This was considered a strategic attack, just as effective as carpet-bombing tank factories or mowing down soldiers on the field with German-made MG42 machine guns.
What does all this have to do with the Federal Reserve?
Millions of voters voice outrage over ill-conceived Bush bailout plan designed for bankers, stock barons
The House defeat of the administration’s proposed bailout for big bankers was a triumph for populists throughout America, who bombarded Congress with phone calls, Internet petitions and emails, then took their protests to the streets of America.
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Patrick Wood - October 6, 2008
When push came to shove, Humpty Dumpty discovered the shortest distance to the cobblestones below: straight down.
Being quite dead, Humpty’s body is stinking up the whole neighborhood. The eyewitnesses call it murder. The coroner, bypassing the eyewitnesses, rules it an accident. The public clamors for taxpayer funds to clean up the mess. Congress passes a bill for superglue to be liberally applied to the broken pieces of shell. The courts finally rule that the eyewitnesses are guilty of hate-speech. Contractors who administrate the reconstruction project get rich.
And so goes the circle of life. Makes no sense, does it?
The global economy, including its stock markets and banking system, is a decaying, dead corpse in process of a massive credit deflation. Until it hits absolute bottom (wherever and whenever that is), no life-support system will help. No government bailout at taxpayer expense will help. No nationalization of body parts (e.g., Fannie, Freddie, AIG) will help.
Nevertheless, let’s analyze the bailout mania that will most certainly one day be declared the largest and most brazen swindle in the history of the world.
AFP - Oct 6 07:07 AM US/Eastern
World markets suffered massive losses Monday, striking four-year lows, as panic-stricken investors doubted whether a Wall Street bailout package would stem the global financial crisis.
London, Frankfurt and Paris all tumbled more than six percent approaching the half-way mark while a 15-percent dive in Moscow forced a halt to Russian trading.
“We have a seriously weak and fear driven market at our hands,” said Tom Hougaard, chief market strategist at City Index.
“It is anyone’s guess where we will end the day.”
Investors dumped shares after US stock markets had fallen sharply on Friday, despite US congressional approval of a 700-billion-dollar bank bailout.
On Monday, Tokyo ended down 4.25 percent as Hong Kong’s stock market shed 5.0 percent, Seoul tumbled 4.3 percent and Sydney lost 3.3 percent. Shanghai dived 5.23 percent and Mumbai was down 5.58 percent in late afternoon trade.
PERFECTIBILISTS: The 18th Century Bavarian Order of the Illuminati, by Terry Melanson
The Ascendancy of the Scientific Dictatorship, by Paul & Phillip Collins
Memoirs Illustrating the History of Jacobinism, by Abbe Barruel
Fire in the Minds of Men: Origins of the Revolutionary Faith, by James H. Billington
America's Secret Establishment: An Introduction to the Order of Skull & Bones, by Antony C. Sutton