From Global Depression to Global Governance
The role of the corporate elites’ secretive global think tanks
Andrew Gavin Marshall - October 19, 2010
We now stand at the edge of the global financial abyss of a ‘Great Global Debt Depression,’ where nations, mired in extreme debt, are beginning to implement ‘fiscal austerity’ measures to reduce their deficits, which will ultimately result in systematic global social genocide, as the middle classes vanish and the social foundations upon which our nations rest are swept away. How did we get here? Who brought us here? Where is this road leading? These are questions I will briefly attempt to answer.
At the heart of the global political economy is the central banking system. Central banks are responsible for printing a nation’s currency and setting interest rates, thus determining the value of the currency. This should no doubt be the prerogative of a national government, however, central banks are of a particularly deceptive nature, in which while being imbued with governmental authority, they are in fact privately owned by the world’s major global banks, and are thus profit-seeking institutions. How do central banks make a profit? The answer is simple: how do all banks make a profit? Interest on debt. Loans are made, interest rates are set, and profits are made. It is a system of debt, imperial economics at its finest.
In the United States, President Woodrow Wilson signed the Federal Reserve Act in 1913, creating the Federal Reserve System, with the Board located in Washington, appointed by the President, but where true power rested in the 12 regional banks, most notably among them, the Federal Reserve Bank of New York. The regional Fed banks were private banks, owned in shares by the major banks in each region, which elected the board members to represent them, and who would then share power with the Federal Reserve Board in Washington.
In the early 1920s, the Council on Foreign Relations was formed in the United States as the premier foreign policy think tank, dominated by powerful banking interests. In 1930, the Bank for International Settlements (BIS) was created to manage German reparations payments, but it also had another role, which was much less known, but much more significant. It was to act as a “coordinator of the operations of central banks around the world.” Essentially, it is the central bank for the world’s central banks, whose operations are kept ‘strictly confidential.’
Tags: Bank for International Settlements, Blderberg Group, Council on Foreign Relations, New World Order, Trilateral Commission
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November 1st, 2010 at 8:58 pm
“How do central banks make a profit ?” you ask. And then you answer–by interest. But you may not be aware that after Congressional hearings several years ago revealed this fact, Congress passed legislation that such profit that exceeded the costs of the Fed’s operation would be paid to the U.S. Treasury.
But let us look at a different issue. The craft of making fiat money is for Congress to grant a T-security to the Federal Reserve for which the Fed will credit an account of the U.S. Treasury in the amount of the principal of the security. We will not ponder the situation that every dollar in circulation has been created by this process, then note that the scheme calls for the U.S. Treasury paying interest on the principal thus created. The interest has never been created. That value of money does not exist. The contract cannot be culminated. But I said we would not ponder this issue.
But do look at the T-security held by the Fed. It will mature in 60 days, or one year, or five years, or 30 years. Congress is obligated to pay the Fed for the security (assuming the Fed has not sold the security to the Primary Dealers and has all ready received the value of the security). Do you get the point ?? The Fed receives the value of ALL T-securities at maturity or before. The U.S. government merely had the value of the fiat money until it had to redeem the security.
Ref: http://www.conspiracyarchive.com/Blog/?p=3908