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?
Senator 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.
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.