Small business owners who employ local workers and provide value to the community are NOT the 1%! The IMF is the 1%.
1. The IRS is not a U.S. Government Agency. It is an Agency of the IMF.
2. The IMF is an Agency of the UN.
3. The U.S. Has not had a Treasury since 1921.
4. The U.S. Treasury is now the IMF.
5. The Attorney General of the U.S. is not employed by the U.S. But is an Agent of INTERPOL which is head quartered in Lyons, France.
6. The United States does not have any employees.
7. Social Security Numbers are issued by the UN through the IMF.
8. There are no Judicial courts in America and there has not been since 1789. Judges do not enforce Statutes and Codes. Executive Administrators enforce Statutes and Codes.
9. There have not been any Judges in America since 1789. There have just been Administrators.
10. According to the GATT you must have a Social Security number.
11. You are an “Institutional Unit” in which your body and labor are pledged to the UN through the IMF.
12. We have One World Government, One World Law and a One World Monetary System.
13. Your Social Security number is your slave number. Just about everyone in the World has a Social Security number from the UN through the IMF.
14. The UN is a One World Super Government.
15. No one on this planet has ever been free. This planet is a Slave Colony. There has always been a One World Government. It is just that now it is much better organized and has changed its name as of 1945 to the United Nations.
16. New York City is defined in the Federal Regulations as the United Nations. Rudolph Gulliani stated on C-Span that “New York City was the capital of the World” and he was correct.
17. Social Security is not insurance or a contract, nor is there a Trust Fund.
18. Your Social Security check comes directly from the IMF which is an Agency of the UN.
19. You own no property, slaves can’t own property. Read the Deed to the property that you think is yours. You are listed as a Tenant.
20. The most powerful court in America is not the United States Supreme Court but, the Supreme Court of Pennsylvania.
GUESS WHO AND WHAT OWNS YOU AND THE UNITED NATIONS ?
As a matter of fact the imagined President, imagined Representatives, imagined Senators, imagined Supreme Court Justices and imagined Federal Judges are not paid by the United States Government. Actually the United States Government does not have any employees They are paid by the International Monetary Fund in electrons. You see there is no such thing as the United States Government. In reality there are no Governments. There are Corporations (Fictions) such as the Federal Reserve Inc., and the United States Inc., which in fact are private corporations. The United States Inc., is just a slave management company. Guess what that makes you? If you said property, you are correct! You are Human Capital. The shares that were issued for the Federal Reserve when it was created back in 1913 only cost $100.00. That was quite the bargain.
*To verify the facts in the preceding paragraphs see (5 U.S.C. 903, 12 U.S.C. 95, 18 U.S.C.A. 914, 22 U.S.C. 263, 285, 286, 287, 288. Public Law 89-719, Public Law 94-564, Public Law 101-167, Public Law 91-151 Public Law 103-465, House Report 103-826 T.D.O 150-10, T.D.O. 92, 41 Stat. Chap 214 pg. 654, Emergency Banking Act 48 Stat. 1, Articles of Agreement 60 Stat. 1440, 20 CFR chapter 111, subpart B 422.103 (b) (2) (2), United Nations Secretariat Revised System of National Accounting, Diversified Metal Products v. IRS et al. CV-93-405E-EJE U.S.D.C.D.I., Cromelin v. United States, 177 F.2d 275, 277 Tomalewski v. United States, 493 F.Supp 673, 675 Foster v. Bork, 425 F.Supp 1318, 1319-20 FRC v. GE 281 U.S. 464, Keller v. PE 261 U.S. 428, United States v. LePatourel, 571 F2d 405, 410, Respublica v. Sweers 1 Dallas 43, INTERPOL Constitution Art. 30, Executive Order 10422, Papal Bulls of 1455 and 1493. 42 Pa.C.S.A. 502. General Agreement on Trade and Tariffs.
Written By: Joshua Gayman
The Financial Times has been running a series this month entitled Capitalism In Crisis. When reading this story, it is apparent just how far we are from fixing this global economic crisis. As Richard Duncan points out in his latest post titled This is not a Crisis of Capitalism, “(it’s) not because of the insights contained in the articles, but because the entire premise of the series is completely wrong. This is not a crisis of Capitalism.”
Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit. More specifically, Capitalism is where the private sector drives production by accumulating capital and investing back into the system. With true Capitalism, the government’s role is very small.
The truth is that the United States has not been Capitalistic for decades. Our federal government spends 25% of the money in our economy and the central bank AKA “The Fed” creates the money out of thin air and manipulates it’s value. Thus, our economy is no longer driven by capital accumulation and investment like before. So if it’s not capital accumulation and investment that are driving the economy, what is it you ask? The answer is DEBT.
Credit creation and consumption(using stuff) have now become the dominant forces driving economic growth. Thus, we no longer live in a Capitalistic economy.
Capitalism was a phenomenon of the 19th century, one that did not survive past the 1st World War. WWI destroyed the standard upon which Capitalism was built. This standard was the gold standard, and once it was gone, central banks and governments gained near-total control over economic production.
The ENORMOUS expansion of government debt that was used to fund WWI created a credit bubble that we know refer to as “the Roaring Twenties.” This bubble of the Roaring Twenties soon popped and became the Great Depression of the 1930s once the debt was too big to repay.
WW2 was no different, with again complete government control over the economy. In the coming decades after, government spending surged on social programs and military expansion. By the 1960s, the government was using Keynesian tools to control monetary policy and the rate of economic growth. In 1971, President Nixon removed the dollar from the gold standard, which meant that dollars were no longer backed by gold. This gave way to a HUGE explosion of a fiat currency supply(money backed by nothing but the faith the people have in their government’s currency). This expansion in the money supply transformed our world and gave way to the biggest economic boom in human history.
In 1964, the total of all credit in the United States hit $1 Trillion. By 2010, the credit supply had expanded 50 times to $50 Trillion(Source: Richard Duncan). This new found money, or credit, created enormous wealth, profits, jobs, and tax revenues, and ultimately brought on a new age of a global economy. As long as credit keeps expanding, prosperity increases. Credit has replaced Capital as the key driver of the economy.
The economic crisis of 2008 had nothing to do with Capitalism. The crisis of 2008 and that we are still facing today stems from issues with credit creation. Because for what caused the biggest boom(or bubble) in human history, is a debt that must be repaid(unlike Capital). The debt that was taken on which drove the expansion of the last 40 years cannot be repaid, hence the crisis. Even more disturbing, is that now a large percentage of the population is now not credit worthy. This makes further credit expansion nearly impossible. And under this credit-ran economy we now live under, when the credit doesn’t expand, the growth slows, until eventually, the music stops altogether.
This 40 year period of credit expansion birthed a new era in the global economy. The United States has been de-industrialized as a result of being able to buy products from low wage countries on credit. As Industry got smaller in the US, the Finance sector became the dominant sector of the US economy. But the music has slowed down dramatically in the Finance sector as well, now that Americans can’t bear any additional debt. Now that we are weak in industry and in way too much debt, it is a growing problem for the United States to be able to act as the driver of the global economy.
But it’s not just the US who’s economy is no longer capable of working successfully. It’s also the economies of all the countries, such as China, that have seen growth as a result of strong manufacturing and export. This is another global imbalance yet to correct.
Truth is, at least to a large extent, the government now manages our nation’s economy. The US’ demand is still the most important factor to economic growth to the global economy. The world NEEDS us to buy their stuff! But without credit, we can’t!
Now, the actions of other governments and government-related institutions(IE: the European Union) must be carefully monitored. Point in case, the news 2 months ago by the European Central Bank(Europe’s Fed) that they would lend Euros($630 billion worth) to European banks for up to 3 years at low interest rates, is the reason that global stock markets have been gaining over the past 6 weeks. The stock market is also at a high since the 2008 crisis, following news from the Federal Reserve that they would keep interest rates at near zero level through 2014.
Global markets have came back sharply not because of the success of the intervention from the Central Banks itself, but because investors are realizing that more government-directed interventions will come when necessary to prevent future crises.
It is flat out sad that the global economy depends on government intervention. This topic leads to a very controversial political subject regarding smaller or bigger government. Once side argues for bigger government to avert the crisis and the other wants small government with less regulation to get us out of the mess. The reality is, unless we can come together to find a true solution to our monetary problem, both sides will get slaughtered as the biggest bubble in human history pops and credit stops, wiping out the America middle class and taking the benefits with it that we have seen as a by-product of our global economic status.
Don’t get me wrong, market forces still have an important impact in the economy. My point is that now, more often than not, it is government or central bank’s action that has so much influence on market forces that it becomes a very grey area as to where the government influence stops and the market influence itself begins. Supply and Demand still play the key role in setting value. It’s just that today, governments have an enormous role in influencing both. It is imperative that we recognize this, and understand that this is not Capitalism. We must no longer worry about fixing the crisis with Capitalism but instead shift our attention to the crisis in the current economic system that exists in this global economy, a system of debt. The only question we should be asking is this, “Do we try to fix the current debt system, or do we need a better system? Do we need to abolish the current system and go back to the former phenomenon that was a true Capitalistic economy?” I woud say this, either way, one must understand what is going on in the global economy if he(or she) wants to join the rich, as opposed to be forced into the poor, as the middle class is wiped out.
It is absolutely madness. Yesterday was a huge injection of dollars into the global financial system by central banks. It seems fiat currencies are swirling the drain now.. Look for precious metals to surge again and listen for new talk of a one world currency..It’s only a matter of time. However, as Robert says, “The people who understand that they must increase their financial education, save themselves and not rely on the rich, or the government, survive and thrive in times of crisis”
So increase your financial education which will lead to increase in cash flow. Rely on God and your faith, not the rich or the government, and thrive in these times of oppertunity! – Joshua Gamen
In my book, Conspiracy of the Rich: The 8 New Rules of Money, I write that bailouts are the name of the game. This means that the ultra rich will never suffer like the middle class and poor do in financial crisis. The institutions that are deemed “too big to fail” will always be bailed out. This also means that sometimes big institutions prefer financial crisis because they know they will be bailed out, and they also know they can make a lot of money from those bailouts.
This week, a bombshell hit on the lending practices of the Federal Reserve to the largest banks in the world during the peak of the financial crisis. As Bloomberg reports in an article entitled, “Secret Fed Loans Gave Banks Undisclosed $13B,”
“The amount of money the central bank parceled out was surprising even to Gary H. Stern, president of the Federal Reserve Bank of Minneapolis from 1985 to 2009, who says he ’wasn’t aware of the magnitude.’ It dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.”
“The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.”
Big gets bigger.
Everyone knew that the name of the game is bailouts for institutions that are too big to fail, and while news agencies have been talking about the gargantuan $7.7 billion in commitments by the Fed to save the economy, the details released this week through the Freedom of Information Act show what we’ve known all along – the rich will say anything to protect their ass-ets and build their balance sheets.
For instance, in November of 2008, Bank of America’s CEO, Kenneth Lewis said that his bank was “one of the strongest and most stable banks in the world.” On that same day, Bank of America owed $86 billion to the Federal Reserve in emergency loan money.
Jamie Dimon, CEO of JP Morgan Chase, told his shareholders in 2010 that he only borrowed from the Fed to encourage others to borrow from the Fed. In reality, the bank borrowed twice its cash holdings from the Fed, and on one day in February 2009, borrowed a colossal $48 billion – one year after the creation of the Fed’s emergency lending program.
All in all, the big six banks comprised of JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley accounted for 63 percent of all daily average lending by the Fed to banks and financial institutions, receiving over $160 billion in TARP funds and borrowing around $460 billion from the Fed.
During that time, “Total assets held by the six biggest U.S. banks increased 39 percent to $9.5 trillion on Sept. 30, 2011, from $6.8 trillion on the same day in 2006, according to Fed data.”
Additionally, the Fed helped prop up both Bear Sterns and Wachovia with emergency loans as they were being gobbled up by JPMorgan and Wells Fargo respectively. The Fed transferred $50 billion in secret loans to Wachovia to prevent financial collapse until Wells Fargo could seal the deal, and they sent $30 billion in secret loans to Bear Sterns so that JPMorgan could wrap up that deal—all while providing $29 billion in financing to JPMorgan to fund the deal.
Essentially, the Fed protected the bigger banks and helped them grow even bigger by keeping brain-dead banks on financial life support long enough to graft them into the bodies of bigger financial institutions like a financial Frankenstein.
This was all done in secret, and without the knowledge of the American people and the Congress.
The safety net.
This type of behavior is reckless because it creates a false safety net. The big banks and the ultra rich know they will be bailed out and so they take even greater risks, putting the economy at even greater risk, and playing games with your money.
As Professor Oliver Williamson says, “The banks that were too big got even bigger, and the problems that we had to begin with are magnified in the process. The big banks have incentives to take risks they wouldn’t take if they didn’t have government support. It’s a serious burden on the rest of the economy.”
Of course, this should come as no surprise, as the Fed doesn’t exist to protect the middle class and the poor. Rather, it exists to protect banks and the ultra rich. Something they’ve shown they can do well, efficiently, and without government knowledge or intervention.
Learn the rules of the rich with a financial education
All this is to show what I’ve been saying for many years, you can’t rely on the government to save you, and your definitely can’t rely on the Fed. The government doesn’t even know what’s going on in our financial policy and the Fed hides those details in order to help their friends on Wall Street…after all, the people who run the Fed used to work there, and probably will again someday. You don’t bite the hand that feeds.
If you want to avoid getting wiped out by the next financial crisis, you must understand the rules of the rich and play by those rules. With a new presidential election heating up this year, I’m sure you’ll hear many calls for hope and change on both sides. Many people will believe that their candidate will make a difference and that this will be the time things will change.
The reality is that nothing has changed in decades. The rich take care of the rich and grow richer. The poor and the middle class grow poorer. And the people who understand that they must increase their financial education, save themselves and not rely on the rich, or the government, survive and thrive in times of crisis.
Take charge of your financial future so that you can live large when hard times come.
By: Joshua Gamen
Could there be a one world currency?
As a citizen of the best country in the history of the world, the United States, I would have said no 5 years ago. I would have told you that’s a terrible idea. The United States is home of the US Dollar. And to the United States government, the Dollar represents a global license to print money. This is because the Dollar has stood as the Reserve currency of the world since 1944(google: Bretton Woods). No other country in the world has the same power to literally just print money with a printing press, because other countries have to convert their currency to Dollars before performing global trade.
But the times, they are a changin’!
Fast FWD 5 years to present day
All of those dollars printed since 1944 were leveraged further using debt and fractional reserve banking. We are all familiar with how debt increases the money supply. Fractional reserve banking is the process of expanding the money supply further by banks issuing new loans every time a deposit is made. This means when u put $100 in the bank, they turn it into $1000 in loans.
After decades of printing money into existence and operating in a system ran by debt, the house of cards crashed in 2007. A huge run on the system occurred from ’02 to ’07 when Debt flooded the world like never before. The country thrived as they lived on the money the banks loaned them. Loans that existed off of money which was printed into existence from nothing and charged interest on. Banks thrived as housing was used to further leverage the money supply by being used as collateral for more debt. But 2007 exposed the system. In 2007, the economy fell like Jenga when society could no longer make the minimum interest payment on it’s debts. Banks tried to patch the hole in the bubble by dropping interest rates to zero so that the system could stimulate debt to stay afloat, but it was too late. The debt was already too much to repay.
The banks then had to foreclose on the houses because they weren’t receiving payments. The banks want interest, not rent, so the houses are useless to them. This caused a flood of supply to the housing market and drove values down. The housing crash was absorbed to them because they got reimbursed by insurance companies like AIG. That is what then caused the stock market crash in 2008. Fannie and Freddie crashed first, then huge public insurance companies like AIG went bankrupt from reimbursing the banks for their foreclosure losses. Financial stocks tumbled and brought the other sectors down with them, causing the stock market to fall 50 percent.
The banks needed the insurance companies to keep bailing them out, so they got the government to issue that huge bailout. In addition to their beloved insurance companies receiving hundreds of billions of dollars, they got plenty for themselves thrown into the package. They then used their money to buy up the little banks, furthering their empire of banks.
Now the banks were posting record profits from the money they had received from the government and insurance companies, but the public was still in shambles. Even with the government dumping trillions of Dollars into the system, unemployment soared as housing continued to crash from the continually increasing supply of housing led by foreclosures, loans stopped and trade halted, both globally as well as on a local scale.
With the US economy on life support, the rest of the world stopped investing in it. This means foreign nations stopped purchasing our debt. To keep the economy going, more Dollars were printed and injected into the economy, which devalued the existing dollars. Now we are on the brink of another Jenga. This time the collapse would be much more devistating, as it would be caused by the exposure to the currency bubble that the Dollars has been in. The cause of the bubble: Too much currency in circulation. The problem is that there are significantly more Dollars in circulation than there is production of goods and services. This inevitably leads to the increase in prices to all goods. This also means, unless you are getting a pay increase to adjust for the increase in prices, you won’t be able to live the same as before. In addition, if you have money in savings, it will now buy you less than it would have in the past.
Foreign countries have took notice of our currency manipulation, and they don’t like it. Most notably China, who is fighting to have their currency, the Yuan, replace the Dollar as the reserve currency of the world. The reason they don’t like supply of Dollars flooding the world is because it means the interest they are collecting from investing in the US is being paid back to them in Dollars, which are lower in value than they were when these foreign nations invested in the US.
A currency crash, which is economically referred to as hyper-inflation, would result in a world depression.
I believe that we will see this happen very soon, as we are seeing the value of the dollar plummet, while at the same time more and more dollars being printed. This is why commodities such as oil, gold, and silver have been skyrocketing since this mess began in 2007.
So what will happen when this happens? I believe it will cause a global reliance on government, which will then cause one of two scenarios. The first scenario being a merge of the biggest nations in the world into a one world government, and the second being a world war for control of a world government. Either way, freedoms will be lost and quality of life diminished. But I will assure you, someone, somewhere, will be gaining power from the whole thing..