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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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Stop worrying about the “commies” or the Socialists …Its Fascism Stupid!

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Don Bowman

In My Opinion…..

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I swear if I see one more hysterical extreme right winger screeching hysterically about how the “commies” are coming or, the Socialists are taking over I will probably vomit.  We are in the grips of full blown fascism and the corporations now rule our country, our economy, and virtually every aspect of our lives.  As the corporate elites live like parasites on a fat infested dog, more Americans are left homeless, hungry and without hope.

Hiding behind radical religious institutions, a vicious political party has formed which I like to call “the Idiocons”. The name is derived from the words “idiot” and “con” artists who worship power more than life itself.  Add a heaping helping of religious extremism and we have the perfect storm for an idiocracy.

The Idiocons recite with predictable regularity that we are a nation founded on Christian principles.  We are NOT!  The founders were those who fled England and the collaboration of church and state against the people.  The one thing they were intent on avoiding was the combining of religion and government.  Hence, we got the 1st Amendment which not only allows us to believe what we wish to believe, but to do so without government interference or collusion.  It states specifically that there will be a separation of church and state; the founders recognizing and remembering what a murderous and deadly combination this was and could become.  ( George Washington in the Treaty of Tripoli, states emphatically that we are in no sense founded on the Christian religion)

We have attacked relentlessly other country’s who are controlled by radical religious beliefs. We have seen first hand how dangerous and murderous a religion controlled government can be to its own people.  Do you really want that here?  The Evangelical movement which is commonly referred to as the “evangevils” represents the same kind of threat to our nation as other radical religious belief systems represent to theirs.  And in each country operating as a fascist regime, religion is the weapon of choice used to beat the people down.

Radical religions along with fascism are the cornerstones of the Idiocon party.  It is not about God or what is best for the country….its all about power.

The 14 Characteristics of Fascism

By Lawrence Britt, PhD

  1. Powerful and continuing expressions of nationalism
    2. Disdain for the importance of human rights
    3. Identification of enemies/scapegoats as a unifying cause
    4. The supremacy of the military/avid militarism
    5. Rampant sexism
    6. A controlled mass media
    7. Obsession with national security
    8. Religion and ruling elite tied together
    9. Power of corporations protected
    10. Power of labor suppressed or eliminated
    11. Disdain and suppression of intellectuals and the arts
    12. Obsession with crime and punishment
    13. Rampant cronyism and corruption
    14. Fraudulent elections

The 13 Characteristics of radical religions

By ME, No BS

  • Powerful and continuing expressions of nationalism
  • Disdain for the importance of human rights
  • Identification of enemies/scapegoats as a unifying cause
  • Rampant sexism
  • Religion and ruling elite tied together
  • Disdain and suppression of intellectuals and the arts
  • Obsession with crime and punishment
  • Claiming that God is speaking only to them
  • Belief in magic, mysticism
  • All the signs of the end times are always present
  • Repression of women as simply servants to men
  • Claiming they know who is going to hell….but its never them
  • Claiming that if the nation would submit to their convoluted beliefs in who or what GOD is, all would be well

I submit, that to do so we would all experience hell first hand.

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https://loeb.columbian.gwu.edu/treaty-tripoli

Our own U.S. Senate, in 1797, stated clearly that “the government of the United States of America is not in any sense founded on the Christian religion.”

The words appeared in the Treaty of Tripoli, written when George Washington was president, sent to the Senate by John Adams, who followed Washington as president. It was read aloud in the Senate and also printed for every senator. The senators voted unanimously to ratify, with no dissension noted in any record, and there is little evidence of any public complaints when the treaty was printed in three newspapers, in Philadelphia and New York City.

Source: Thomas Jefferson, “The Virginia Legislature, Review and Reform of the Law,” in Autobiography.

Christianity neither is, nor ever was a part of the common law.

Source: Letter of Thomas Jefferson to Dr. Thomas Cooper, February 10, 1814.

THOMAS JEFFERSON’S VIEWS OF THE PURITAN FAITH

“His [Calvin’s] religion was demonism. If ever man worshiped a false God, he did. The being described in his five points is … a demon of malignant spirit. It would be more pardonable to believe in no God at all, than to blaspheme him by the atrocious attributes of Calvin”

Source: Thomas Jefferson, Works, Vol. IV, p. 363.

“Millions of innocent men, women and children, since the introduction of Christianity, have been burnt, tortured, fined and imprisoned; yet we have not advanced one inch towards uniformity.  What has been the effect of coercion? To make one half the world fools, and the other half hypocrites. To support roguery and error all over the earth.”

Source: Thomas Jefferson, “Religion” in Notes on the State of Virginia (1782), p. 286.

SCENARIO OF NATIONAL BANKRUPTCY

4 Comments

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

TS Radio Network: John Leckrone Returns! Part # 2

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Join us Tuesday evening November 5, 2019 at 7:00 CST!

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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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Get Your Head Out Of Your False Left vs. Right Paradigm

2 Comments

Don Bowman

 

OPINION:

I cannot believe, after successive presidency’s reflecting both supposed political ideologies and party’s, that anyone is still buying into the right vs. left, Republican vs. Democrat, liberal vs. conservative, BS. And it is BS.

Playing on, at times, extreme religious beliefs, or manufactured propaganda meant to frighten you in to accepting another war of aggression, or professed moral righteousness, we are encouraged to vote for one party or the other. Along with the tossing about of the words socialism and communism and the chronic hysteria that accompanies those words, many of us are convinced that our votes really matter or that things will actually change as a result. Actually, they do change…they always get worse. Makes no difference which wing of the this one party system you vote for.

Combining church and state?

We have a 1st amendment prohibiting that and for good reason.

Let me say that the lunacy emanating from churches in today’s world is enough to make a rational, reasonable man’s head explode. When I see blanket statements such as “Democrats hate Conservatives and Christians”…Really?? Really America? How many of you actually believe that? Or how about, “conservatives hate Democrats and they are satanists?” Are you really that easily manipulated and stupid? But if you need one, the barrage of idiotic religious drivel from either side of this combination of church and state, or, the lack thereof, is really obnoxious.

That’s Socialism! That’s Socialism!

First, let’s clear one thing up right off the bat! America is in no danger of becoming a socialist or communist nation. We are heading full steam ahead More

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