The Bail Outs & The Fed

I read in the paper that there are 20 banks that are too big to fail. I guess the US Government is not too big to fail because that is exactly what will happen if we keep bailing out these banks.

Bailing out the banks is not going to get America buying again. As I said in my blog at http://inflation.blogtownhall.com/ “ I keep hearing that there is a loss of consumer confidence, which is now causing our depression. Wrong again. Consumers have not lost their confidence, consumers are so overburden with debt that they can’t afford to buy anymore. Paying 50% of your income out on a mortgage and 30% of your income out on credit cards at 18% to 32% interest because of consumer overconfidence would probably be a more accurate statement of why consumers are not buying. The banks caused this problem by making credit too easy. Not a week goes by that I don’t get another offer from a bank for a low interest credit card. Of course if your late on just one payment they jack the interest up. Now your money is going to pay past purchases with nothing left to continue purchasing”

The Federal Reserve is not Federal, it is a private banking cabal.

THE TEN MEMBER BANKS OF THE FEDERAL RESERVE

Rothschild Bank of London

Warburg Bank of Hamburg

Rothschild Bank of Berlin

Lehman Brothers of New York

Lazard Brothers of Paris

Kuhn Loeb Bank of New York

Israel Moses Seif Banks of Italy

Goldman, Sachs of New York

Warburg Bank of Amsterdam

Chase Manhattan Bank of New York

 All owned by the Rothschilds

Are we going to trust the sovernty of this nation to the House of Rothschilds or are we going to return the power to coin our currency back to the people via the Treasury Department?

“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”

Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)

We can fix this depression in a year by doing a few simple things.

1.             Return the power to coin money to the US Treasury Department.

2.             Repeal the Federal Reserve Act of 1913

3.             Outlaw Usery

Dr. Ken Matto put it best at: http://www.scionofzion.com/federalreserve.htm he has done his research and this should be mandatory reading for every American.

Also check this out on fractional banking: http://www.lewrockwell.com/rothbard/frb.html

The Wrong Cure

The Washington post article “Fed in line to expand oversight of financial system’s stability” is exactly opposite of what needs to happen. The Fed is the number one cause of the financial crisis we have today.

Continuing to bail out failed banks is supporting their failure. The more money you print up to throw at them, the less the money is worth and the more you will have to throw at them in the future. The banks are insolvent because today’s banking system is designed for failure.

 See my blog at http://inflation.blogtownhall.com . If your going to bail out anyone, bail out the people that these banks have abused.

And just where is all this money going. It sure as hell is not going into the economy. The banks are not even telling the government what they are using it for. I have a sneaking suspicion that it is going to banking executives so they can fatten up their own wallets. A 700 trillion dollar bail out has not help the economy. Is all that happens is it increases inflation making our currency even more worthless. In 1913 when the Federal Reserve Act was created illegally, a dollar was worth a dollar. Today it is worth less than five cents. A nickel candy bar now costs a buck. The economy is not created by the banks or the government. The economy is created by the working class. First by production, and then by purchasing the products. When you remove the wealth from the working class, the economy fails. We need to put these greedy corporate executives in the unemployment line. Or better yet, there is a special place for crooks and thieves; it’s called the Federal Penitentiary.

The Illegally Created Federal Reserve

“Our secret expedition to Jekyll Island was the occasion of the actual conception of what eventually became the Federal Reserve System. The essential points of the Aldrich Plan were all contained in the Federal Reserve Act as it was passed.” 

Aldrich’s name was stripped from the House Bill, when the White House came under the control of the Democratic Party hierarchy. To sell the plan, some changes were made and Senator Glass danced the Federal Reserve Act through Congress two days before Christmas in 1913, when many members had already left, with NO PUBLIC HEARINGS WHATSOEVER!!! Therein is the fundamental fraud and Nelson’s finger to the people! Most of the members of Congress had left.

The Cure

The first thing that has to be done, is to repeal the illegal Federal Reserve Act of 1913.

The second thing is to remove the statement “This note is legal tender for all debts, public and private” from our currency. Removing the government mandate that paper money is the only legal currency.

The third thing is written in the Constitution of the United States, Section Ten. “No state may make any thing but gold and silver coin a tender in payment of debts”. States do have the right to mint their own currency, if that currency is gold or silver.

The fourth thing is to create a new federal currency, backed by gold where one gram of gold equals one dollar and this ratio can never be changed at any time during the future. Call this currency, “United States Gold Dollar”, which would be exchangeable in any bank for gold coin.

The fifth thing that needs to be done is an amendment to the Constitution that no public entity can borrow or loan money at interest.

Summary

To quote G. Edward Griffin: “During the Roman Empire, a one ounce gold coin would buy a good quality toga, a good quality pair of sandals and a belt. Today a one ounce gold coin will buy a good quality suit, a good quality pair of shoes and a belt. Gold has not changed value in 2000 years.”

My grandfather told me in 1957 that by the year 2010 there would be a depression that makes the depression of the 30's look like a Sunday school picnic. People won't be able to make enough to buy food and will be eating each other to survive. ( you better make sure to fatten up your neighbor ) Looks like he was right.

The newspaper today said that 55,000 jobs were lost in one day. A sign of the times and bound to repeat itself.

Having a stable monetary system is the only thing that will pull us out of this depression.

Will all this be done? No! The American Art of Greed has been perfected to a science. It took greed 800 years to destroy the Roman Empire. They devalued their currency until it became worthless. Greed has only taken 230 years to destroy America