Bankers own the earth. Take it away from them, but leave them the power to create money and control credit, and with a flick of a pen they will create enough to buy it back.
– Sir Josiah Stamp, former President, Bank of England
Dr. Bernanke unfortunately does not understand economics, he does not understand currencies, he does not understand finance. All he understands is printing money.
– Jim Rogers at Oxford University yesterday
Let Them Eat Mud Pie
The monetary and financial system that we are enslaved under at the current moment in human history has recently transformed itself into one of the most immoral and destructive forces the world has ever seen. The reason many citizens in America cannot see the extent of it at this time is because the Federal Reserve in coordination with Washington D.C. and the money center banks are doing everything in their power to keep you blind and complacent while they rob you blind. Many of the people in these institutions are not cognizant of the theft they are engaging in as they are either useful idiots or so wrapped up in their ego and false belief that they are making the paycheck they are based on some useful skill rather than simply working at the institutions that are instrumental in carrying out the ponzi scheme. You see, at the highest levels the elite must understand that the U.S. is flat broke; however, an admission of this would mean loss of power and possibly criminal prosecution. As a result, they have zero, I mean ZERO interest in the outcome for the general public and will do “whatever it takes” to quote Ben Bernanke to cover up their economically fatal mistakes and keep the mirage alive. As I mentioned above, there are two main segments that are crucial to keeping the ponzi scheme going, Washington D.C. and the big money center banks. This is why the Federal Reserve is quite purposefully directing all of the new money they are creating out of thin air into these two already bloated and corrupt cancers on the American landscape.
Now that the elections are over I want to really zero in on the Fed and the banks because the power union that these two comprise are the biggest threat to liberty, freedom and any potential future economic prosperity. In order to engage in another round of printing money (QE2) Ben Bernanke has started to just make things up and mislead on a level that is so egregious it would make even the most dovish central banker blush. Many of Bernanke’s recent lies and misleading statements can be found in this piece by Karl Denninger that is a must read http://market-ticker.org/akcs-www?singlepost=2245666.
The most incredible one is that this completely disingenuous man is telling us that inflation is too low according to what the Fed considers price stability. What? First of all the PCE core was +1.2% in September and the CPI ex-food and energy (which is a fraudulent joke to begin with) was +0.8%. So even using the government’s completely false and Orwellian definitions of inflation, prices are rising about 1% a year. How is this not consistent with price stability you ask? I will tell you. The Fed does not work for you the citizen it works for the banks and the elite. You see, the Fed and the elites in the United States all deserve to lose their positions of power and status because in their greed and lack of wisdom they completely hollowed out the U.S. economy and allowed all our jobs to move overseas while we fostered a nation of well paid paper ponzi scheme creators. Because this is all we have left and since this class has all the money, the Fed and Washington D.C. answer to them and them alone. The dirty little secret of it all is that many of these fabulously wealthy people are not particularly bright or talented. Sure they know how to create a paper scam to rip off the ignorant but mainly they are just taking advantage of a rigged game and since they are devoid of any human compassion or morality they never think outside of themselves or the tiny world they live in. Many of these players made horrific bets in the height of the real estate bubble that are linked to residential and commercial property. This includes many of the wealthiest investors in America and the big TBTF banks. Although the prices for everyday goods that the majority of Americans care about are soaring like food, cotton, oil, coffee, etc the prices for real estate both residential and commercial are not. Since the Fed only cares about the small elite since that is where the money is, they only care about the inflation levels that matter to the elite. These folks could care less if 90% of America is reduced to the status of Haiti in the long-run where people eat “mudpies,” a mixture of dirt, salt and vegetable shortening to survive. Now, this is not my prediction for America but the point I am trying to get across that most people still do not understand is that the U.S. economic structure is collapsing right before our eyes and what the Fed is trying to do is prop up the stock market so that people stay asleep while Wall Street and the banks take what is left of this nation’s wealth.
What I want everyone to stay very vigilant on is what the large TBTF banks do in the months ahead and more importantly what Washington DOES NOT do to stop them from taking the scraps that are left. In case you haven’t seen the articles, the banks are expected to pay out record bonuses this year. Meanwhile, the bank stocks are amongst the worst performing in the stock market this year. Furthermore, the government continues to allow them to use fake accounting for their assets so they can report operating profits. This allows bonuses until the whole thing collapses again by which time unemployment could skyrocket but they have once again picked the pockets of the public. The fact that there are even shareholders willing to own these banks just demonstrates how prevalent the Stockholm Syndrome (Stockholm syndrome is a term used to describe a paradoxical psychological phenomenon wherein hostages express adulation and have positive feelings towards their captors that appear irrational in light of the danger or risk endured by the victims, essentially mistaking a lack of abuse from their captors as an act of kindness) in America. Remember, no matter which party is in power in Washington D.C. what ALWAYS gets more power although they are the biggest cancers on society are the Fed and the big money center banks.
Another development that came to light yesterday was the following reported in the Wall Street Journal: “The Federal Reserve is poised to allow healthy banks to increase dividend payments for the first time since the financial crisis, an anxiously awaited set of instructions that could provide a boost to bank stocks.” The banks still do not account for their assets appropriately and they are going to start paying dividends? WAKE UP AMERICA. If they get away with this they will just push harder and harder. If you are outraged by any of this, buy physical gold and silver. Do not buy stocks unless they are in the commodity sectors, especially precious metals mining. If you buy financial shares you will be fleeced. It is guaranteed.
The TSA is Going to Molest You at the Airport so Michael Chertoff Can Make a Dollar
Ever since they started to be rolled out immediately after the highly suspicious “underwear bomber” incident, I made it clear that I will never enter one of these things. Everyone draws a line somewhere and this is mine. The government is not going to take a picture of my naked body to get on an airplane. At the moment, you are able to refuse the scanner and opt for an “enhanced pat down” but guess what? The government wants you to the go through these machines so badly that they are now making the enhanced pat down procedure more intrusive. If you have a wife and kids and you don’t want to subject them to a radiation shower this is what is in store for them:
The pat-down at BWI was fairly vigorous, by the usual tame standards of the TSA, but it was nothing like the one I received the next day at T.F. Green in Providence. Apparently, I was the very first passenger to ask to opt-out of back-scatter imaging. Several TSA officers heard me choose the pat-down, and they reacted in a way meant to make the ordinary passenger feel very badly about his decision. One officer said to a colleague who was obviously going to be assigned to me, “Get new gloves, man, you’re going to need them where you’re going.
The above excerpt is from a recent article by Jeffery Goldberg of the Atlantic is a must read for anyone that flies http://www.theatlantic.com/national/archive/2010/10/for-the-first-time-the-tsa-meets-resistance/65390/. There is a follow up that is also worth checking out http://www.theatlantic.com/national/archive/2010/11/-are-any-parts-of-your-body-sore-asks-the-man-from-tsa/65482/. If this doesn’t get you fired up just research the connections between former Homeland Security chief Michael Chertoff and the naked body scanners. The airlines are a disgrace for going along with this and they will suffer from reduced traffic unless this stuff is scaled back. In parting, I just want people to take a step back and think about the government and then think about the fact they are going to treat you like an animal and a slave at the airport. This is a sad joke. Everyone needs to draw a line somewhere. I have drawn mine. Where do you draw yours?
Have a great weekend,
Mike
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