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Fed Has 10-Year Plan to Save Banks, But No Plan to Save Americans Devastated By Fallout, Admits Powell

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Is the Fed’s latest money funnel to unnamed trading houses on Wall Street part of the plan?

By Pam Martens and Russ Martens of Wall Street on Parade.

During his testimony to the Senate Banking Committee yesterday, Federal Reserve Chairman Jerome Powell let it slip out, for the first time, that the Federal Reserve has had a 10-year game plan to deal with the financial crisis. In response to a question on cyber threats from Senator Ben Sasse of Nebraska, Powell stated the following:

“They kind of pay us to be awake at night worrying about things. I would say that if you look at what happened in the financial crisis, we had a game plan there. We implemented it over the course of 10 years. I won’t say that it’s perfect or anything like that, but we have a plan that is meant to address those kinds of things.”

“Those kinds of things?” The financial crisis, fueled by corruption and lax regulation of Wall Street banks, destroyed the housing market in the U.S. and left the U.S. economy in tatters. Millions of Americans lost their jobs and their homes to foreclosure. The New York Fed was the supervisor of key Wall Street banks that caused this problem – shouldn’t it have had a 10-year game plan to prevent “Those kinds of things” instead of creating the game plan after the damage had been done?

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21 Trillion missing from US Government…no Accounting for it

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One comment that deserves special attention from one of our members:
LouieC……
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The question to ask all those running for public office:
$21 Trillion dollars is missing from the US government. That is $65,000 per person – as much as the national debt!
“No money shall be drawn from the treasury, but in consequence of appropriations made by law; and a regular statement and account of receipts and expenditures of all public money shall be published from time to time.” ~ Article I, Section 9, Clause 7, U.S. Constitution
What’s going on? Where is the money? How could this happen? How much has really gone missing? What would happen if a corporation failed to pass an audit like this? Or a taxpayer?
This means the Fed and their member banks are transacting government money outside the law. So are the corporate contractors that run the payment systems. So are the Wall Street firms who are selling government securities without full disclosure. Would your banks continue to handle your bank account if you behaved like this? Would your investors continue to buy your securities if you behaved like this? Would your accountant be silent?
This is the reason that there is such a strong push to change or tear up the US Constitution. This is why members of the establishment say it is “old,” “outdated!” This is why there is such a push for gun control. Don’t buy it! We can use the Constitution to get our money and our government back. It is time to enforce the US Constitution.
The Solari Report has been covering the missing money since 2000 when Catherine Austin Fitts began to to warn Americans and global investors about mortgage fraud at the US Department of Housing and Development (HUD), the engineering of the housing bubble that lead to trillions more dollars in bailouts and funds missing from the US government starting in fiscal 1998.
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SCENARIO OF NATIONAL BANKRUPTCY

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Author: OldReb

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Doom and gloom are appearing with increased frequency in U.S. and global financial writings but specific details of a potential economic catastrophe are never given. Let us speculate on what could happen in the United States.

Is a view into an economic catastrophe available ?

ANSWER: Sure, that is easy. Read what has happened to Greece and Argentina. William Blum, John Perkins, and Chossudovsky give many more examples. Bank deposits have been seized; pensions have been wiped out; jobs have been terminated; real estate and assets are selectively confiscated; the economy crashes; national assets are sold at fire-sale prices to financiers; financiers must approve every government action; etc. The same New York City parties, and their proxies, are repeatedly involved.

How might it be handled in the U.S. ?

ANSWER: The Federal Reserve Bank of New York City will handle it. They have exclusive handling of funds to redeem Treasury securities—as a fiscal agent for the government. They will select who gets funds which the government has available. Ref. 31 CFR 375.3.

Who will benefit from the crash?

ANSWER: Primary Dealers currently receive >$10 trillion annually for redeeming Treasury securities. Some of them were involved in creating the Federal Reserve. The concept that they hold ownership of the Board of Governors, in a closely held corporation that does not have to file with the SEC, should not be overlooked. Furtive acts abound in the creation of the Fed. Their derivatives creations have obtained super-priority status in bankruptcy. More

THE FEDERAL RESERVE: A DIFFERENT VIEW

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Author: oldreb

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“What difference does an increase in the National Debt make? We owe it to ourselves.” virtually every congress-critter has declared. Such a paraphrased statement, reflecting on the exoskeleton structure of the Federal Reserve, ignores the inner historic mechanisms of Rothschild banking, the intense subterfuge and arm-twisting of the Fed’s creation, and the proven destructive forces inherent but hidden therein. 1

The medieval Rothschild Banks established a line of credit for the King provided the King issued a written promise to pay gold, with interest, to the bank at a time in the future. The book-entry Rothschild credit was used to pay for obligations incurred by the king. The credit continued to be circulated in the kingdom between merchants. The bankers sold the king’s interest bearing promise of gold to investors. The promise was renewed by the king on its maturing date and became perpetually rolled-over. 2

VOILA !!! The king made the suppliers of services happy with Rothschild credit; the bankers had the gold from investors; the investors had a promise the king would eventually pay them in gold—which would never happen. 3 Everything went smoothly as long as the bankers could sell the promise and the investors did not demand the gold. 4 As Benjamin Ginsburg has lamented in FATAL EMBRACE; (bankers) AND THE STATE 5, eventually the schemes, which stole the wealth from the people with book-entry fiat money, would come to a catastrophic climax. 6

The Federal Reserve system, claimed to be “staffed and run by Council on Foreign Relations members” 7 does the same thing for the U.S. government’s deficit spending. Their wizard is hiding behind Frank Baum’s curtain as obscurant to any public inquiry.8

The Federal Reserve Bank of New York will grant credit (not “create money”) in an account of the US government with an amount that the government will pledge. 9 The government will expend the book-entry-credit account (deficit spending) to pay for goods and services consumed by the government. The suppliers are content. Evidence that the supplier has received a credit voucher is obvious. [It is touted to the public as a loan.10] The heading of the currency given to the supplier by a local commercial bank is Federal Reserve Note; i.e., a debt obligation of the Federal Reserve also identified as a “tender” (substitute) required by law to be accepted for an imprinted number of dollars. 11 More

The Fed Fears an Explosion on Wall Street: Here’s How JPMorgan Lit the Fuse

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By Pam Martens and Russ Martens of Wall Street on Parade

JPMorgan Chase is the largest bank in the United States with $1.6 trillion in deposits from more than 5,000 retail bank branches spread across the country. When it withdraws liquidity from the U.S. financial system, that has a reverberating impact. 

According to the filings that JPMorgan Chase makes annually with the Securities and Exchange Commission (SEC), since 2013 JPMorgan Chase has spent $77 billion buying back its own stock. That includes the whopping $17.01 billion it has spent in just the first nine months of this year buying back its stock.

But here’s the shocking news. According to its SEC filings, JPMorgan Chase is partly using Federally insured deposits made by moms and pops across the country in its more than 5,000 branches to prop up its share price with buybacks. The wording in the filing is as follows:

“In 2019, cash provided resulted from higher deposits and securities loaned or sold under repurchase agreements, partially offset by net payments on long-term borrowing…cash was used for repurchases of common stock and cash dividends on common and preferred stock.”

Had JPMorgan Chase not spent $77 billion propping up its share price with stock buybacks, it would have $77 billion more in cash to loan to businesses and consumers – the actual job of its commercial bank. Add in the tens of billions of dollars that other mega banks on Wall Street have used to buy back their own stock and it’s clear why there is a liquidity crisis on Wall Street that is forcing the Federal Reserve to hurl hundreds of billions of dollars a week at the problem.

On September 17, the overnight lending rate on repurchase agreements (repos) spiked from the typical 2 percent range to 10 percent, meaning some very big lenders such as JPMorgan Chase were backing away from lending. That forced the Federal Reserve to jump in as lender of last resort, the first time it has done that in any material way since the financial crisis

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Food Crisis In The Making: Farm Bankruptcies Reach Horrifying Levels

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By Mac Slavo

We are amidst a food crisis.  Farms in the United States Midwest are filing for chapter 12 bankruptcy at an alarming rate.  And many are saying president Donald Trump’s trade war is taking the most blame.

We hate to say we told you so, but we told you so. The trade war was a bad idea and everyday average Americans are footing the bill for this asinine policy of tariffs.  Now, the food supply could be in jeopardy because of political posturing and that will not bode well for already cash-strapped American families.

A total of 84 farms in the upper Midwest filed for bankruptcy between July 2017 and June 2018, according to the Minneapolis Star Tribune. That’s more than double the number of Chapter 12 filings during the same period in 2013 and 2014 in Wisconsin, Minnesota, North Dakota, South Dakota, and Montana, reported Vox.

Farms that produce corn, soybeans, milk, and beef were all suffering due to low global demand and low prices before the trade war, according to economists, but president Trump’s trade war is making the problem even worse by exacerbating the weaknesses in the American economy. China has retaliated against the tariffs by slapping billions of dollars worth of tariffs on United States agriculture exports in response to Trump’s tariffs on Chinese products. Other countries, including Canada, have also added duties to US agriculture products in response to Trump’s tariffs on all imported steel and aluminum.

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Patriot Alert! California is going down……… Don’t save us!

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 Heather Gass

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Warning to anyone outside of California……

 

This is what is happening in our state.

 

You MUST not let this happen in yours:

There is a parallel system of govt that has been stealthfully formed around us to overtake our federal/state and local system. This parallel system or shadow goverment consists of mostly state and regional boards, commission and agencies that are unelected and unaccountable to the people.

These boards/commissions and bodies have tremendous power and are now dictating policy to local counties and cities.  Many of these agencies cannot be audited and are incorporating outside of California to avoid the open meetings act.

Federal and state funding are being given to these bodies bypassing the local municipalities giving them great power to coerce local cities and counties into implementing Agenda21 land use, transportation, climate and other policies.

In addition Public/private partnerships are being formed daily to further dilute the accountability and control within our state. These partnerships allow this shadow govt to hide behind and protect private businesses from lawsuits, environment regulations giving unfair advantage to these corporations thereby killing their true private competitors.

In a few weeks California will have a carbon credit trading scheme foisted upon us that will further kill our economy. This regulation was enacted supposedly to stop the evil corporations from polluting our air and water. However, all of those corporation who are favored by the shadow system, known as Benefit Corporations, will get waivers so the real damage by these regulations will be to the middle class.

In a few short months I predict that California will lose thousands more jobs, our businesses will not be able to compete and our economy will fail.

Please DO NOT come bail this state out!

I believe the rest of the country will be asked to save California because “We are too big to fail!” Do not fall for this. California was meant to fail by design. All the Marxist policies that have been implemented in this state were designed to overrun the system so it would fail and then the govt could come in and take over.

Please do not bail us out.

Use this as a cautionary message to save your own state.

God help us…….. We really need it.

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