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What Is the Real Truth About 2008

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We are com­pletely depen­dent on the com­mer­cial banks. Some­one has to bor­row every dol­lar we have in cir­cu­la­tion, cash or credit. If the banks cre­ate ample syn­thetic money we are pros­per­ous; if not, we starve. We are absolutely with­out a per­ma­nent money sys­tem.… It is the most impor­tant sub­ject intel­li­gent per­sons can inves­ti­gate and reflect upon. It is so impor­tant that our present civ­i­liza­tion may col­lapse unless it becomes widely under­stood and the defects reme­died very soon.”         

~Robert H. Ham­phill, Atlanta Fed­eral Reserve Bank

For those that don’t under­stand the cur­rent prob­lem, here it is in a nut­shell.  Pres­i­dent Obama ran on a Lin­coln plat­form and Lin­coln has two great com­po­nents to his plat­form.  Sav­ing the Union which included “The Eman­ci­pa­tion Procla­ma­tion “ and the cre­ation of our own econ­omy  (Print­ing of the Green­back) for which he was assas­si­nated.  He has to be very care­ful about this.  The Pres­i­dent is scream­ing for help and most Cit­i­zens can’t hear him. This includes those of us in Con­gress. Through a deeper under­stand­ing of the prob­lem, your per­cep­tion should become more enlightened.

   

 

Pres­i­dent Obama wants to fix the prob­lem per­ma­nently or for a long time.  The Con­gress which is more con­cerned about being elected and (many are bought off by Fed­eral Reserve share­hold­ers) wants a short term fix to get them past the elec­tion cycle.  To fix the prob­lem per­ma­nently will take a broad man­date of the peo­ple, because some of these cor­rupt peo­ple are pow­er­ful, oth­er­wise Obama would go down like Lin­coln or Kennedy (We don’t count James Garfield who was killed weeks after an adverse state­ment regard­ing the bankers). We are already 62 Tril­lion Dol­lars in Debt which is far more then what the let­ter pro­poses and keeps the wealth in the coun­try.  Con­gress is try­ing to nego­ti­ate how much fur­ther we can go into debt before this process comes up again.  The prob­lem is this sys­tem does not work.  It is a con game of con­trol that only WE The Peo­ple can stop and enriches about 300 fam­i­lies.  What are they doing with all this money?  Think about it.  We all have to write this let­ter. To give you an idea of the money we are talk­ing about, it is more then enough to give every cit­i­zen 200,000 dol­lars.  Time for WE The Peo­ple to flip the script.

At some point your going to hear about Fuel Prices, the “Deriv­a­tives” and The Hous­ing Bub­ble and Stu­dent loans…. No. Stop, it wasn’t that at all.  It was us being a young conned coun­try and they did it to us twice.

Now we have the means to com­mu­ni­cate instantly. Locate your Rep or Sen­a­tors on the bar to your right.

 

 

What caused the “2008” Recession?

Fletcher-19091936-Florida-SenatorSen­a­tor Dun­can is a name unknown to many today, how­ever we are talk­ing about Florida’s longest serv­ing sen­a­tor. We are talk­ing about the man who chaired the inves­ti­ga­tion into the cause of the “Sink­ing of the Titanic.” This is the man who chaired the United States Sen­ate Bank­ing and Cur­rency Com­mit­tee in 1932 with a man­date to exam­ine the causes of the Wall Street Crash of 1929. This resulted in “the Secu­ri­ties Act of 1933, the Glass-Steagall Bank­ing Act of 1933 to sep­a­rate com­mer­cial and invest­ment bank­ing which estab­lished the FDIC and curbed banks from spec­u­lat­ing on mort­gages. 

 350px-GrammLeachBliley

This was repealed in 1999 by the Gramm-Leach-Bliley Act (Finan­cial Ser­vices Mod­ern­iza­tion Act of 1999) allow­ing banks to spec­u­late on mort­gages and look at us now . Didn’t we just go down that road in the late 1920’.  This was a mod­ern­iza­tion act alright.  It gave us a good old fash­ioned hous­ing bub­ble which they then burst cre­at­ing a reces­sion. Where were we then Enlight­ened Cit­i­zens? They slipped that one right in the back door and knew what the result would be. The Gramm–Leach–Bliley Act allowed com­mer­cial banks, invest­ment banks, secu­ri­ties firms, and insur­ance com­pa­nies to con­sol­i­date. For exam­ple, Too Big to Fail “AIG” is approached  by JP Mor­gan to insure their com­plex cor­po­rate debt struc­ture. In vir­tu­ally no time at all Credit Default Swaps were born.  These instru­ments were cus­tom designed to pro­tect the com­pany from their own spec­u­la­tion in the event of a fail­ure. Citi­corp (a com­mer­cial bank hold­ing com­pany) merged with Trav­el­ers Group (an insur­ance com­pany) in 1998 to form the con­glom­er­ate Cit­i­group, a cor­po­ra­tion com­bin­ing bank­ing, secu­ri­ties and insur­ance ser­vices under a house of brands that included Citibank, Smith Bar­ney, Primer­ica, and Trav­el­ers. This com­bi­na­tion, announced in 1998, would have vio­lated the Glass–Steagall Act and the Bank Hold­ing Com­pany Act of 1956 by com­bin­ing secu­ri­ties, insur­ance, and bank­ing, if not for a tem­po­rary waiver process. The law was passed to legal­ize these merg­ers on a per­ma­nent basis.  This law needs to be fixed imme­di­ately.  They knew what this law would do. That is why they passed it. This behav­ior in my opin­ion val­i­dates the need for Big Gov­ern­ment. But the gov­ern­ment we need can’t pay for itself on an inter­est bear­ing account. It also val­i­dates the impor­tance of eter­nal vig­i­lance if we want to remain free.

O Hear YE  Yes Pres­i­dent Clin­ton and Ver­non Jor­dan, me thinks you need a debriefing.

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