My "Sara" model is part of this wonderful website on the history of Lake Champlain

My "Sara" model is part of this wonderful website on the history of Lake Champlain
Cannons !

Thursday, December 29, 2011

My version of the US Dollar; the GNP fiat note

    GNP fiat is the only way to go; gold is just one commodity; the overall health of the
nation is in the GNP, which the monetary system should reflect IMO, but you'll never see it,
as it's just fair to all.  And yes, issued by the gov., debt free, so that in times of necessary deficits, the country just suffers the inflationary printing, instead of adding to the national debt as now.
   To deal with overprinting, I would suggest the states with their powers of nullification be part of the mix and to make sure that the GNP dollar/basket of goods were accurately reflective of all parts of the economy/country, which sounds messy, but then this IS money, the next most important thing after military defense...and you see how bad that is. It's sorta like barter, then a LET system, but with notes of value; very simple really, and NO private Federal Reserve banks to swindle us anymore !
   Their "national debt" should be called out and adjudicated one case at a time for culpability, and if found guilty (with even international subpoena's, regardless of "implied" or other supposed immunities) those involved should suffer jail time, forfiture/restitutional directives with new legislation to whit to prevent further negative incursions into the "general welfare" of the country.
   Kucinich's, HR6550/111th, also his NEED act is a fairly good start to the process, but he wants to just pay off the national debt as it comes due...BAD; adjudicate instead ! ...don't let them get away with their past malfeasance and ruination of the country...and the world !

People ! The country is dying ! Please wakeup !

Why is this country dying and what to do about it before we can't even log onto facebook, etc.? Three articles that cover most of it.  I expect trouble this summer, before elections probably. Be ready ... To VOTE 'em all out (almost all of 'em).  We must GET the Fed-printing (and owning), major capital flighting, off-shoring, outsourcing retards that have ruined the best thing mankind ever had a chance at for freedom for the commmon man.  If America goes down, we get thrown back way past even the Magna Carta !  If you don't mind being a penurious peon of a serf slave for the super-rich, just keep up what you're doing now; you'll  be "back on the plantation" before you know it soon... all of us that is; in total debt with no ownership of anything and under the total control of the "state", and with S1867/HR1540, if you make too much of a fuss, you could end up with a Montana concertina vacation "time-share" with one-way doors (and mirrors).     

Monday, December 26, 2011

At least a few are trying to Save the Country !

Thanks to Paul and Grayson, etal., we now have even more damaging info on the big-bank-bailouts in addition to judge Preska's 29,000 pages, and judge Jed Rakoff's 21,000 documents on the Federal Reserve system (not Madoff...different guy right?)

So what is one to do to help save the country ?

1. Close your bank accounts at these banks :
....List ... (include Bank of America, JP Morgan/Chase, etc.

2. Open bank accounts to show solidarity and give strength to these ... List... Bank of North
Dakota, , etc.

3. Know your congressmen and bombard them with letters, e-mails, calls, appointment,
audience and appearance requests, bringing as list of grievances we all can use (post please,
esp. if you are a lawyer, etc.). Mine are actually sending me "hand-written" letters which my
have me sent to a FEMA camp, but I'm too old to bother to worrry about myself anymore.
If I can do any good for the country with the time I have left (maybe 20 years?) so be it !
We all must insist on investigations FOIA to whit on the over $16T bank bailouts, etal.
Just where are all the AGs in this ? Why aren't we hearing from them and state's governors?

4. Do not buy from the following list of companies and stores... GE, Monsanto, big pharma, etc.

5. Always Occupy polling places legally, but maximally with signs supportive of our plight and
for Ron Paul or your hero/heroine of the American people.6. Legally sabotage all business dealings with as many 1% types as possible in all things, even to foreign shores where they often reside.

7. This is a Quik-List; add to it please to help save the country for "we the (little) American
people" ! Please feel free to add to it if you will.

Responsible American gun owners/users rejoice...3 small victories !

    H.R. 2055—the Consolidated Appropriations Act of 2012—has been passed by the House of Representatives and the U.S. Senate and has been sent to the President for his expected signature. 

   This bill contains three NRA-backed provisions that will strengthen our Second Amendment rights and prohibit your federal tax dollars from being used to advance an anti-gun agenda...but "they" can still use "citizens united" monies as long as this horrid ruling by scotus remains unchallenged.

Friday, December 23, 2011

One expert's thoughts on the Federal Reserve

As an "old--(late 70's)", real world economist, I have been struggling for
over 60 years with the concepts being discussed by this group, the PBI

My professor and mentor at the University of Illinois, U-C, Donald Kemmerer,
(a real conservative who assumed my liberal inclination would disappear with
age), and I sparred about the obvious subversion of democracy involved in
the creation of the Federal Reserve. His father, a distinguished professor
of economics at Princeton University, and an expert on the role of gold as
money, was one of the economists whose intellectual input was available to
the conspirators at Jekyll Island. It was at the meetings at Jekyll Island
in the November of 1912 that the concept of the Federal Reserve System was
conjured up. Although I never grew to accept the anti-democratic nature of
the Fed, Kemmerer and I stayed friends until his death.

During that same period (1958-59) I was introduced to the writings of John
Maynard Keynes. One afternoon in the reference library at the University of
Illinois (UIUC), while reading in Keynes' "General Theory of Employment,
Interest and Money" I came to the awful realization that when the
politicians got hold of the ideas presented in this learned tract, they
would corrupt them and use them to excuse the profligate spending of money
without concern for whether or not a stimulation of the economy by the
government was a desirable thing. Perhaps the only restraining influence on
these people was the presence of gold as a bench mark on the value of
"paper" money.

Thirteen years later, after having studied for a Ph.D. in monetary and
financial economics at Cornell University, I had achieved a measure of
respect for understanding the vagaries of our economic system. I had just
become a vice-president of a "Wall Street" firm specializing in providing
investment and economic advice to institutional investors. It was September
of 1971 and Nixon had just taken the U.S. off the gold standard. I was in a
meeting with the first client I would address on behalf of that firm. I was
explaining to the staff of the client firm my thoughts about what the
outcome of the Nixon Administration's policy decision would be and what it
might mean for their investment policy decisions.

All of a sudden I had a flashback to that day in the library at the University of Illinois. I
described my awful realization of that day to my client's staff. I told them
that Keynes had given the politicians a license to steal. Now, Nixon had
given them the check book by which the restraints of the "Gold Standard"
became inoperative. Nixon and his crew could (and did)continue the wasteful
spending associated with the Vietnam War. They could spend at will. They had
laid the foundation for the fiscal and political crises which challenge us

The moral of the story is this: neither the rich, the learned, the
politicians, nor the masses will enjoy peace and prosperity until an
agreement is reached among the classes, factions and regions of the country
resolving the question: How can the resources of the country best be
mobilized to provide for the "General Welfare" of the people of the country.

Discussions of Public Banking, the definitions of money, and how the
government's activities are to be financed will be important parts of that
debate. Also, the very difficult problem of the concentration of wealth,
along with the related question of the monopoly power of corporations must
be addressed.

As long as human beings are involved in this process the future is unlikely
to be any better than the past. I am not hopeful.

James P. Savage III; reprinted here without permission it is so excellent and timely

Thursday, December 22, 2011

Meandering machinations of a Minarchist

I would think none of us here is a Constitutional lawyer, but I can hope to get some better interpretations if such a person were to step forward. I have always taken the "general welfare" clause to speak to the overall socio-economic health of the country, but that's just my take, which I try to inject all over to see what kind of response I will get...often agreeable, but always interested in other opinions. ...then there is always the powers of the states and people with the 10th, which could start local groundswells culminating in national referenda or real legislation, but that is also over my head; wrong field of endeavor ! I have a "pocket" Constitution right next to the computer that I place there a few years ago and use it as needed just to test myself if nothing else.

Our "Drone nation under foot"
My real take on all the events of the present time is horrible, I feel the country is being pared down to a troglodytic/MIC/drone militaristic collection of would be targets so the super-rich can stay off-shore, outsourced, and capital flighted in relative safety as the spartanized American "watch-dog" nation controls and quells any "problems" the world may present to the "one world corporation"/NWO, etc. with Patraeus at the helm of the ISAF, aptly named as their website expounds about.

Federal Reserve thoughts:
I wouldn't end the federal reserve banking regulation part, which is an obfuscatory part of the agency meant to confuse us of course, while the private fed banks are allowed to print/own/lend/hoarde fiat money as they see fit without any regulation (the ultimate de-regulation IMO), ie. counterfeiting it as outlined in art. 1, sec. 8, par. 6 (not par.5, coining; different problem). Then there are the other monetary "problems" of overprinting (QE disease), not basing the money supply on anything, except greed, with no ongoing, actionable prosecutions or even investigations to whit, except for the likes of Spitzer's attempt, and you see what that got him..won't get into JFK or LT McFadden, HAVE listened to at least part of JFKs speech tellingly from the Waldorf-Astoria on secret societies ? If anyone doesn't think there is a GIANT conspiracy coming to fruition at this time, they must be vacationing on the planet Mars !...of course you could just call it a "business plan" a hostile takeover ? When such a "business plan" is carried out such that some lose big time, then I call such a "conspiracy", which may or may not be legal of course...we may never know, and I'm too old to take up lawyering.

"America the dream" is failing:
"little people out in the cold" to me would mean a continuation of the last 100 years with the finality of indebting all Americans into servitude to the government, with the lucky ones able to escape with at least some part of their supporting means intact. We are witnessing this transitional period now IMO, where the "America political idiom" is no longer a viable entity, as it fades into the dustbin of history as a failed experiment in freedom for all, esp. we the little people, due mostly to the greed and egotistical ways of those who have systematically ruined perhaps mankind's last best chance for a fair and peaceful world.

Saturday, December 17, 2011

Ron Paul vs Elizabeth Warren....interesting, telling, KEY !

Neutral comment ? NOPE ; Both are WRONG IMO.  Paul is too privatized and niggardly here, and Warren is too socialistic, but she displays a glimmer of hope for those who excel, who must be recognized and rewarded more than the indolent, incogitant and slothful.  It's not that Paul is selfish really, but he's just too self-absorbed and doesn't generally reflect on the mutualism to any degree that would benefit  mankind as it did in our distant tribal periods, where such was key to survival of the species, which has set a baseline of moralism and social doctrine ever since, as evidenced by the deaths of those civilizations that didn't honor such.  One must guard against both ends of this spectrum, neither espousing the "spiders in a bottle" syndrome, nor the "sometin' fer nuttin" crowd either...self determination, pride in the work ethic and achievement, and a little golden rule to help those (minimally) who haven't got their bootstraps on right yet...but you don't give away the farm or weaken yourself and become part of the problem or the country will fail.

Friday, December 16, 2011

"The NDAA proves that a people of sheep invites a government of wolves"

Constitutional Attorney Bruce Fein; NDAA (S-1867, HR-1540) is an Unprecedented Intrusion...being used to destroy what we are as a republic and as a nation.  We are all terrorists now if we exist in the most seemingly normal, innocent of ways as we always having more than 1 week's food and water in our homes or guns and ammunition of any amount.

 Bruce  Fein was deputy attorney general under President Ronald Reagan and is author of
"Constitutional Peril: The Life and Death Struggle for Our Constitution and Democracy."

Wednesday, December 14, 2011

Robert Reich - points to go after in the Rebuilding of America - (with a few notes of mine)

inequality - middle class no longer has the income to maintain American business,
     while the super-rich just hoarde their excess incomes from all sources,
     however questionable.

- the money is rigged toward the top 1% which allows "controlling" campaigns and
     unfair legislative practice as the founding fathers warned of.  The oxymoronic
     "citizens united" and corporate personhood must be rescinded to restore at least
     some of the "power to the people".

- Trickle-down economics is a lie and a fraud, enabling and enriching only the "1 %",
      with tax cuts only for them, while not creating jobs at all, as they absconded with
      such proceeds to foreign shores, untaxed and unregulated.

- Tax cuts for the wealthy, skewed legislation and subsidies, usurious bailouts, all
      have ruined the country, putting the load of that debt on the backs of common
      Americans by transferring it through such vehicles as the FDIC, etal. in usurious,
      often felonious fashion, but for which no actions to date exist "for some reason".

- All this has lead to massive deficits due to a lack of taxable income at all levels...
    - the middle classes due to their joblessness
    - the super-rich, due to their absconding unopposed and untaxed

- The super-rich must be taxed more, including increases as above, on capital gains,
       and stock transactions (rescinded quite a while ago), etal.

- We need the return of Glass-Steagal, and similar bank rules, modified to minimize
       moral hazard that all caused the banking melt-downs and bailouts.   This must
       also be dealt with by breaking up big banks that have shown any such tendencies,
        practices or had such outcomes, with principle officials being subpoenaed, tried,
        and convicted with jail time and forfiture to properly discourage such examples
        of turpitude.

- Loan modifications must be made for mortgage holders of good record, so that their
        homes are no longer "underwater" , and otherwise in trouble due to no fault of
        their own, as one example of "reparation" of the American way of life fast

- Reinvest in the American infrastructure at all levels and in all "industries", including
        education to rid our young of the "dumbing down" started a generation ago

- We must elect a man for potus who will help reinvigorate and return America to
        prosperity and its former place in the world with a population worthy of that

A Recent Letter to my Congressmen...

Once again I implore you and your staff to take special notice of the transgressions being wrought on our once fine country. I fear for us all, as it descends into unknown, radical and punitive territory in every way for
common Americans.

Legislating Tyranny in America - by Stephen Lendman (in part)

Obama won't prosecute CIA torturers, Wall Street crooks, other corporate criminals, lawless war profiteers, or other venal high-level civilian or government officials. (nor will Holder, USAG)

Instead, expect him to sign into law (or at least tacitly approve) indefinite military detentions of US citizens allegedly associated with terrorist groups, with or without corroborating evidence.

Post-9/11, US freedoms and other democratic values (are) dramatically eroded. Enactment of police state provisions in the FY 2012 National Defense Authorization Act comes closer to ending them entirely.
On December 5, the ACLU headlined, "Indefinite Detention, Endless Worldwide War and the 2012 National Defense Authorization Act (NDAA)," saying: Enactment of this measure will authorize "the military to pick up and imprison people, including US citizens, without charging them or putting them on trial."
Secretly with no hearings, both Houses are rushing to complete a "joint version" before leaving for Christmas break. "Fundamental American values and freedoms are on the line." Given the stakes, they're perilously hanging by a thread.

   On December 13, the Center for Constitutional Rights (CCR) urged Obama to veto NDAA in its present form. Otherwise, he'll "be responsible for signing into law one of the greatest expansions of executive power in our nation's history, allowing the government to lock up citizens and non-citizens without the right to fair trials."
   Indefinite detentions violate core democratic freedoms, including fundamental Bill of Rights ones already gravely eroded.
   On November 27, 1941, Franklin Roosevelt issued Proclamation 2524, declaring December 15 Bill of Rights Day to commemorate its 150th 1791 ratification. At the time, he hailed "America('s) charter of personal liberty and human dignity," including "freedom of religion, freedom of speech, freedom of the press, freedom of assembly, and the free right to petition the Government for redress of grievances." Although American freedom then was far less than he claimed, today it hangs by a thread and may pass entirely any time for any reason.

   In response to global imperial wars, corporate favoritism, unbridled private sector criminality, and political corruption at the highest levels, causing economic crisis conditions at home, thousands began protesting nationwide for social justice. In response, militarized police confront them violently as NDAA heads for enactment to stop anyone from challenging US hegemony and corporate power by throwing them indefinitely in military dungeons to rot.

   Equity and justice are fast eroding entirely to advance America's imperium. On May 26, the House passed HR 1540, 322 - 96. Doing so took a giant step toward abolishing freedom entirely. On December 1, the Senate's S. 1867 followed suit, 93 to 7.
   Both versions assure no one anywhere is now safe, including law-abiding US citizens. Enactment means anyone anywhere, including US citizens, may be indefinitely held without charge or trial, based solely on suspicions, baseless allegations or none at all. No reasonable proof is required, just suspicions that those detained pose threats. Under subsection (b)(1), indefinite detentions can follow mere membership (past or present) or support for suspect organizations. Presidents will have unchecked authority to arrest, interrogate and indefinitely detain law-abiding citizens if accused of potentially posing a threat.   (continued at)

Monday, December 12, 2011

Wonder Why Election Cycles are so long now ?

IMO, that is one reason why the election cycles are so long exhaust those without super-bucks and keep them from continuing to campaign effectively. There should be legislation to limit this problem besides getting rid of the horrid "rulings" at the links below, which was NOT a clear ruling, but which gave corporations "personhood" and has been used extensively to our collective detriment from then until the present day, especially now with the OTHER horrid ruling by scotus, the oxymoronic "citizens united" case for unlimited campaign contributions ruled as a matter of
"free speech".... for corporations, without disclosures as to sources, etc. .


The doctrine of corporate personhood creates an interesting legal contradiction. The corporation is owned by its shareholders and is therefore their property. If it is also a legal person, then it is a person owned by others and thus exists in a condition of slavery -- a status explicitly forbidden by the Thirteenth Amendment to the Constitution. So is a corporation a person illegally held in servitude by its shareholders? Or is it a person who enjoys the rights of personhood that take precedence over the presumed ownership rights of its shareholders? So far as I have been able to determine, this contradiction has not been directly addressed by the courts.


Sen. Bernie Sanders: Corporations Are Not People and They Shouldn't Be Allowed to Buy Our Elections Corporations should not be able to go into their treasuries and spend millions and millions of dollars on a campaign in order to buy elections.


Bill Moyers reminds us that repairing American democracy begins with reasserting that corporations do not have the same constitutional rights as citizens.

Friday, December 9, 2011

Tax Rate disincentives to business ?

    So; there is no new investment to speak of due to over-regulation and double tax rates for such monies ?   That's called a "dis-incentive-ized" economy IMO.   The usurious, oxymoronic sounding "unearned" income (esp. rentier, but not your grandmother's apartment rental income) , is 1/2 of what it should be at 16%, while the "earned" rate is now at 38% or so....totally unfair to, and dishonoring the work ethic that built the country in the first place !  Actually, the "peace dividend" idea that it represents (for the super-rich only) should be reversed if you truly want to save the country...OH, I forgot; they DON'T want to save the post-WWII country; they now want another 3rd-world country of troglodytes and "government bound entitlementalists", who are more than willing to settle for a much more rewarding (on purpose) career in the military for the "Spartanized" nation we are becoming so the ISAF can truly "assist" in world "security" of their ill-gotten gains on wallstreet.

   No envy here; just a growing sense of how immoral and usurious "your" 1/2 is, esp. when it comes to the tax codes, unrestricted major capital flight, unfettered off-shoring, outsourcing of jobs and whole industries and general malfeasnce minimally against the Constitutional "general welfare" clause, let alone the federal reserve's abuse of the country for the last 100 years with the equally immoral, usurious, and unconstitutional but "legal" status as it has systematically destroyed our currency's value, using the totally fraudulent by some legal definition, "money created as debt" idea, which should be banned from the world forever.  So ENVY ?  NO, but a great sense of total INJUSTICE and MALFEASANCE against the American people.

Thursday, December 8, 2011

To the unrepentant, usurious, rentier enabled super-rich entitlementalists...

  So, there is no new investment to speak of due to over-regulation and double tax rates for such monies ?   That's called a "dis-incentive-ized" economy IMO.   The usurious, oxymoronic sounding "unearned" income (esp. rentier, but not your grandmother's apartment rental income) , is 1/2 of what it should the "earned" rate is now at 38% or so....totally unfair to, and dishonoring the work ethic that built the country in the first place !  Actually, the "peace dividend" idea that it represents (for the super-rich only) should be reversed if you truly want to save the country...OH, I forgot; they DON'T want to save the post-WWII country; they now want another 3rd-world country of troglodytes and "government bound entitlementalists", who are more than willing to settle for a much more rewarding (on purpose) career in the military for the "Spartanized" nation we are becoming so the ISAF can truly "assist" in world "security" of their ill-gotten gains on wallstreet.

   No envy here; just a growing sense of how immoral and usurious "your" 1/2 is, esp. when it comes to the tax codes, unrestricted major capital flight, unfettered off-shoring, outsourcing of jobs and whole industries and general malfeasnce minimally against the Constitutional "general welfare" clause, let alone the federal reserve's abuse of the country for the last 100 years with the equally immoral, usurious, and unconstitutional but "legal" status as it has systematically destroyed our currency's value, using the totally fraudulent by some legal definition, "money created as debt" idea, which should be banned from the world forever.  So ENVY ?  NO, but a great sense of total INJUSTICE and MALFEASANCE against the American people.

Elizabeth Warren; one of the few great Americans left !

She is one of the few great Americans we have left.  Please sign her petition against wallstreet abuse of the American people !

Monday, December 5, 2011

Ron Paul's plan to restore America :

 ***  REPEALING ObamaCare, Dodd-Frank, Sarbanes Oxley, mandating REINS-style requirements for thorough congressional review and authorization before implementing any new regulations issued by bureaucrats, and canceling all onerous regulations previously issued by Executive Order.

***  REDUCING the federal workforce by 10%, slashing congressional pay and perks, curbing excessive federal travel, and lowering my salary as President to $39,336, which is approximately equal to the median personal income of the American worker;

***  FREEZING federal spending to 2006 levels, the last time Republicans had complete control of the federal government;

***  AUDITING the Federal Reserve, as well as cutting the EPA by 30% and the FDA by 40%;

***  STOPPING all foreign aid and ending all foreign wars so we no longer continue the policy of taking money from poor people here in America and sending it to rich people in poor countries overseas

------------ He would also bring home most of our overseas troops, but I have yet to see his plans for them once they come home for re-employment !   All the other candidates avoid this issue totally.

Is there any real accounting by anyone for the last 10 years ?

I just want to see an adjudication list with subpoenas for the following ...
to be expanded as all contribute and as can be researched :

-potus Obama - for crimes against the Constitution, not promoting the "general welfare"
-usag Holder - same
-Nancy Pelosi - insider trading not available to "ordinary" Americans
-Barney Frank - allowing TARP to be necessary; his weak bill "fix" is not at all good enough

- Phil Gramm - A main culprit who now has a cushy job at UBS. As chairman of the Senate Banking Committee from 1995 through 2000, Gramm was Washington's most prominent champion of financial deregulation. NOTE : contrast him with the great Louis T. McFadden, one of our American champion heros for "we the little people".

- Angelo Mozilo - Banking ; , Mozilo co-founded Countrywide in 1969 and built it into the largest mortgage lender in the U.S. Countrywide wasn't the first to offer exotic mortgages to borrowers with a questionable ability to repay them.

This is just a first small sampling on the sites below ; you can expand on each of the villains...

- Alan Greenspan
- Chris Cox
- American Consumers
- Hank Paulson
- Joe Cassano
- Ian McCarthy
- Franklin Raines
- Kathleen Corbet
- Dick Fuld
- Marion and Herb Sandler
- Bill Clinton
- George W. Bush
- Stan O'Neal
- Wen Jiabao
- David Lereah
- John Devaney
- Bernie Madoff
- Lew Ranieri
- Burton Jablin
- Fred Goodwin
- Sandy Weill
- David Oddsson
- Jimmy Cayne,29569,1877351,00.html

Read more:,29569,1877351,00.html#ixzz1ffHuyEBH

FDIC Fights 'Too Big to Fail' With Bank 'Living Wills' - 9-15-11

Let's hope something good happens for a change ! The Dodd-Frank Act is too weak and watered down.
"FDIC Board Approves Interim Final Rule Requiring Resolution Plans for Insured Depository Institutions Over $50 Billion" "FDIC Acting Chairman Martin J. Gruenberg said, "The FDIC's Interim Final Rule requiring insured depository institutions with assets over $50 billion to submit resolution plans is intended to serve as a complement to the joint rulemaking with the Federal Reserve under the Dodd-Frank Act that was also approved by the FDIC Board today.

These two rules will ensure the comprehensive and coordinated resolution planning for both the insured depository and its holding company and affiliates in the event that an orderly liquidation is required. The rules will also facilitate improved efficiencies and risk management practices among covered institutions as they produce and evaluate these plans."

10-18-11 ; If you have any doubt that Bank of America is in trouble, this development should settle it Bank of America Corp. (BAC), hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits, according to people with direct knowledge of the situation...

Bank of America's holding company - the parent of both the retail bank and the Merrill Lynch securities unit - held almost $75 trillion of derivatives at the end of June, according to data compiled by the OCC. About $53 trillion, or 71 percent, were within Bank of America NA, according to the data, which represent the notional values of the trades.

That compares with JPMorgan's deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm's $79 trillion of notional derivatives, the OCC data show.

Is there real hope for nullifying the now $175 Trillion that just went onto the FDIC roles in derivatives or are we going to have to lose the country for allowing this ? My understanding of Dodd-Frank (and knowing what I think of those two) makes me shudder at the possiblilites for failure of our monetary system.

Sunday, December 4, 2011

BofA and JPM move up to $100 TRILLION in derivatives to FDIC-insured accounts...and that's just the tip of the Iceberg about to hit us all !

 Where IS the potus and USAG in all this ? asleep? Nope; otherwise engaged? sorta; on the take with Pelosi & co. with congressionally condoned/legalized insider trading on no-bid military contracts and also allowing derivative disasters like this...? YES !...

We first need a judicial, executive and legislative revolution so we can get subpoenas flying like Preska's 29,000 pages on the Fed, or the new 21,000 documents from Jed Rakoff (NOT to be confused with Madoff !).

Defaulting middle-class U.S. homeowners are blamed, but they are merely a pawn in the game. Those loans were invented so that hedge funds would have high-yield debt to buy, now estimated to be 10x more = 1000 Trillion, which can supposedly be put atop the debt now "insured" by the FDIC...?? NOWAY on my planet ! Let the courts fly NOW !

Go again Eliot ; We missed you !

   Our hero list keeps growing with Spitzer, the "mean dog" of  WS fame, even if his personal life is a mess. We need more heros like Rakoff, Preska, Born, Pauls, Grayson, Sanders, Kucinich, Perry Clark, Elizabeth Warren, Karen Kwiatkowski, Al Franken (he's no comedian here, as he voted to get
rid of "citizens united"!)

Saturday, December 3, 2011

We need more judges like Jed Rakoff (and Napalitano?) to help save America !

 Judge Rakoff Challenge to the S.E.C.: Can Regulatory Capture be Reversed?

Last Monday, Federal Judge Jed Rakoff issued a potentially precedent-setting challenge to the Securities Exchange Commission (SEC) when he rejected the $285 million settlement between the agency and Citigroup. The bank is charged with negligence related to its misleading sale of toxic mortgage-backed securities, which ultimately cost investors nearly $700 million but earned the bank a handsome profit of almost $160 million. Citigroup is a prime example. It is accused of negligence in the loss of $700 million of investor money, and agreed to pay $285 million, which is less than 8 percent of the bank’s profits in just the third-quarter of 2011 alone.

A New York Times analysis found that over the past 15 years, at least 51 cases have involved recidivism by 19 Wall Street firms. In many of these cases, the SEC could bring contempt of court charges, but it has not done so in at least 10 years. Most major banks are repeat violators.

Taking on very large firms and raising the costs of violating the law are not impossible tasks. It can be done. In fact, in 2008 American and European authorities went after Siemens, a German multinational company, for making large amounts of dubious payments globally. By 2010 Siemens had paid out nearly $3.4 billion in investigations, back taxes and fines to end the probe.

Focusing only on the minimum the SEC can do to settle with Citigroup and to satisfy the specific challenge presented by judge Rakoff misses the much larger picture

There should be much more debate on how to stem the undue influence of big banks, which should be revisited, and a spectrum of more stringent measures, even including the breakup of the biggest banks, ought to be seriously considered. Revolving door policies ought to be revisited and cooling off periods should be extended, especially for persons occupying sensitive positions that are particularly vulnerable to capture.
We need judges who will see to it that tougher transparency, regulatory and enforcement incentives would further raise the costs of violating securities laws because companies would face the added risk of investor lawsuits, and possible criminal prosecutions by the Justice Department against executives.

If Judge Rakoff’s ruling will set a precedent is unclear, and it depends greatly on the White House, Congress, the SEC, other judges, civil society and reformists in the private sector to seize this opportunity and to address the persistent and costly phenomena of capture.

Thursday, December 1, 2011

6 Shocking Revelations About Wall Street's "Secret Government"

 Top officials willfully concealed the true extent of the 2008-'09 bailouts from Congress and the public.

Americans now have access to over 29,000 pages of Fed documents and 21,000 additional Fed transactions that were
deliberately hidden, and for good reason, as they are almost self-indicting !

Wednesday, November 30, 2011

Homeland "shock" Incarceration/internment FEMA camps need help ?

Whatever happened to our Contsitution and due process, habeas corpus and posse comitatus ?   FEMA incarceration camps for Americans ?   I hope not, or a lot of congressmen are going to be looking for work in another industry.

Senate Votes To Keep Indefinite Detention Provision In Military Bill
public petition to stop s1253 NDAA sections 1031, 1032, indefinite military detention of American citizens
Ron Paul's site on s1253, NDAA, where he says he wasn't aware of it until recently.  Not sure how bad
that might be or if his staff slipped up, but at least he's against the bad parts it seems.
S. 1253 will allow indefinite military detention of American civilians without charge or trial. Includes some
statements by the ACLU.
S 1253, NDAA pdf ;  sec. 1031 is on page 359

Saturday, November 26, 2011

Alan Grayson on Occupy Wall Street, the Federal Reserve and MORE !

 This "deposed" by the "super-right-fringe" representative deserves the votes of "we the little people" to help restore America ! he says...where are the prosecutions? (or at least the ANY USAG ??)

Friday, November 25, 2011

Still gonna vote for nepostistic, nattie nabob Newtemer ?

 In Gingrich’s words, ...we will be at war for, “the rest of our lives.” in a recent debate; a view echoed by
all the other republican candidates but....Ron Paul of course; Get out the vote for him, unless you have a
better choice ?

Tuesday, November 22, 2011

Is democracy compatible with a financial system run by billionaires? Maybe not.

Five Ways that Financial Elites are Destroying Democracy :

1. Billionaires replace one person, one vote.
2. The stock market exercises an instant veto.
3. Governments are not permitted to create full employment economies.
4. Hedge fund speculative raids replace elected leaders with technocrats
5. Financial markets are vetoing Social Security.

North Dakota’s State-Run Bank Boosts Treasury, Spurs Imitators

 The big banks are running scared now that OWS, bank transfer days and this bank are starting to take bites outa their butts... Yea !  The BOND is the only state run publically owned bank in the country, and has never been in the "red"...since 1919 !  It was setup in direct competition to and against the idea of the Federal Reserve system where wallstreet takes all the profits and starves our democracy of liquidity.  There are more than a dozen states now looking into such a system to help get them back into the "black", but the big banks are fighting it all the way of course.

Sunday, November 20, 2011

Amnesty by any means ?

We, of the middle classes are apparently without rule of law for illegal immigrants, as DOJ officials are being directed to "cease and desist" prosecutorial the behest of "the administration" apparently.

Memos Trace Evolution of Obama Administration Policy


Saturday, November 19, 2011

OWS is not enough... !

OWS is wrong as a singular approach to the problems we face.  We also need more than a right to petition/redress of grievance; we need national referendum like Iceland and Switzerland.  Apparently, we only have a plibiscite/initiative as options, which seems too weak to cause any effect for change in any realistic way in the legislatures,  either state or federal IMO.
However, we should be able to get proper notice from at least some "sympathetic" legislators if enough people start a petition. Go out and get citizens to sign it. If enough signatures are obtained you will get the attention of the nation as well as the rest of the world.  If it is done well enough we might get somewhere to start to save the country, not from destruction, as the military will never be disbanded, but from the loss of most of the middle class, save those who serve the military industrial complex (MIC)  IMO.
In the United States, a plebiscite is typically known as an initiative when originating in a petition of ordinary citizens, and as a referendum only if it consists of a proposal referred to voters by the legislature.

Friday, November 18, 2011

Silence and respect are the watch words at the tomb of the unknown soldier !

 You may not agree with everything that the country or its officials do, but the ideas of our hard fought for freedoms and rights must be preserved and respected for us and our VALID attempts at bettering the world as we try to honor, abide and improve the lot of all, with proper observances for those fallen in our service, so help us God, our creator.

MF Global Collapse has destroyed the Entire System !

     The Entire System Has Been Utterly Destroyed By The MF Global Collapse" - Presenting The First MF Global Casualty. Jon Corzine STOLE the customer cash at MF Global. Knowing Jon Corzine, and
knowing the abject lawlessness and contempt for humanity of the Marxist Obama regime and its cronies, this is not really a surprise. What was a surprise was the reaction of the exchanges and regulators. Their reaction has been to take a bad situation and make it orders of magnitude worse. Specifically, they froze customers out of their accounts WHILE THE MARKETS CONTINUED TO TRADE, refusing to even allow them to liquidate.

MF Global was led by Chief Executive Jon Corzine, a former Goldman Sachs (GS) chairman and former Democratic U.S. senator and governor from New Jersey. He resigned Nov. 4... If that doesn't give you the shivers, you're probably brain dead already.,0,6751449.story

Tired of wallstreet bank "bailouts"? Try the Public Bank of.... Pennsylvania?

Many have now heard of the Bank of North Dakota. The only publically owned bank in the country...and has been so for 100 years as a direct challenge to wallstreet..and its usurious "Fed". Financed with the people's money. That's the first big difference.
How it operates is different........ No dividends are issued to shareholders, no bonuses to executives.
All Profits must, by law, be returned to the [state's] general fund or plowed back into the bank to increase its loan activity. I kid you not ! Their legally binding mission statement could be added to our Constitution IMO.

Read more:

Lenin was an enemy of the middle classes right from the start !

"The way to crush the bourgeoisie is to grind them
between the millstones of taxation and inflation."
-- Vladimir Ilyich Lenin
[Vladimir Ilyich Ulyanov] (1870 - 1924), First Leader of the Soviet Union

Thursday, November 17, 2011

Insider trading AND no-bid contracts...what a deal !

Barney Frank presses Bachus to crack down on insider trading in Congress ... What ? Insider trading AND no-bid contracts...what a deal !   This is a huge problem that my other post about Pelosi's undue influence goes into a bit.  In addition to Minority Leader Nancy Pelosi (D-Calif.), the House Speaker John Boehner (R-Ohio), and House Financial Services Committee Chairman Spencer Bachus (R-Ala.) are getting the heat to deal with insider trading from Rep Barney Frank (D-Mass.), who is the ranking member of the House Financial Services Committee.

Sen. Al Franken against "Citizens United", Yea !

     Senator Al Franken and 16 other senators move to limit campaign contributions now allowed by the
oxymoronic "citizens united" ruling of scotus !
     Franken the comedian ??  Not a laughing matter here !! He means all good business for the American
people and fairer elections with this one ! Give your support if you can help level the playing field for "we
the little people".

Wednesday, November 16, 2011

Insider Trading by Congress Confirmed ! 60 Minutes Catches Nancy Pelosi with Her Dress Down

 Allegedly, the article shows that she gets insider deals on defense contracts which accounts for her fortune, at our expense in that way also, besides her other failings... So if she can be "allowed" to do that... it doesn't leave much to the imagination as to what else goes on with wallstreet and our government does it ?

Mayor Bloomberg - Countdown with Keith Olbermann

 This is the best I have seen of him, usually tuning his rants out, but he got it right this time about OWS and Bloomberg, etal. horrid historical figures IMO; I will start listening to him again due to this one !

How about an economic bill of rights ?

 Ellen Brown, one of our American heroines at it again to try and help organize OWS types and those of us who want to help repair the country if that's possible. Open discussion; I'm all ears on this one. Someone suggested we look at FDRs take on this, but it's too liberal for me.

Monday, November 14, 2011

Ron Paul wins O’Reilly straw poll, so O’Reilly disqualifies him

 Now he's second only to Mitt the Nitt Romney
Please excuse the sources, but it seems so many others are allegedly bought and paid for what with the
liberty robbing, oxymoronic "citizens united" by scotus, and so don't carry the stories of his winnings, or
mention his share of time in debates, some as little as "90" seconds ! Maybe that means he's considered
too dangerously close to becoing the republican candidate for potus in '12 ? While I consider him to be
one of the few honest people in Washington, his views are sometimes not what I would prefer, but vastly
better than most of the rest, with most being shills for the absconding super-rich, long since expatriated or
off-shored, and he is leading the "pack" IMO, and is so far, my hobson's choice.

Sunday, November 13, 2011


Money is merely a means by which people avoid barter in trading, including not only goods, but "work valuation", expressed in dollars/hr. or a salary/period. We've plenty of work to do on updating, upgrading and simplifying our banking system besides making it a "level playing field for all". As a population grows, and/or does more monetary "things", it needs a steadily increasing money/currency supply, just to denominate the increased number of transactions. Even in the current system, the supposed "debt" is ONLY that amount of currency supply increase that is not clawed back by the issuer via taxes. There's no one to "pay it back to except ourselves", and no possible reason for ever returning our own currency supply to the issuer - our own government. The entire topic of a national debt is entirely a tool used by those in the banking trade who are totally malfeasant against the electorate and in political campaigns, as the bankers can especially now buy their influence that the founding fathers warned us of with the horrid ruling by scotus, the oxymoronic "citizens united".

Fiat currency ISSUERS have debts only in real goods/services/capabilities/outputs, and use currency only
for internal bookkeeping. They cannot run out of numbers to use any more than mathematicians can. It is a ruse, myth, scam, usury, fraud, and hopefully, unconstitutional.

Fiat currency USERS use their nation's sovereign currency as an accurate proxy for their local goods/services budget. Currency users can run out of currency, currency issuers cannot. The difference is this fundamental: The so-called national "debt" is in reality our private savings, save the huge, inflationary, invalid amounts printed in excess of the GNP as it accumulates, minus depreciation, etc.. If no extra currency was left in circulation, there would be no possible way for people to have private savings. IOW, it is all of the value of goods and services owned by the people which has been stolen by the currency issuers, ie. the Fed has "traded" their useless fiat for our real goods and services...FRAUD, by legal definition. Unless the government issues the money, to roughly track the GNP, there is either inflation or deflation, AND a "national debt" to cover the amount issued by the private Fed banks...under the Constitution, this is FRAUD (art.1, sec. 8, par. 6.....not par. 5, dealing with "coining" money which the government still does, but the amount is tiny compared to other fiat forms of money "issued/generated", etc.)

Think of the federally issued GNP dollar as an extension of the most honest form of exchange of goods and services...barter. Now go to the next phase in the development of LETS system. A local exchange trading sytem has records kept of all goods/service rates, etc. such that when a person wishes to "buy" something in goods or services, it is deducted from their assessed valuations, which are kept in journals and updated daily, etc. much as now in many ways with the present system of accounting. For this system to become "money" based, the government now needs to declare that instead of journals being used as they are, often with "notes" to pay at a later date, that these notes are not legal tender, but merely contracts between citizens and can go no further than the immediate transaction. Legal tender laws would dictate that all commodities would be awarded on surrender instead of just metals, etc. This would be especially poignant, eg. in the case of TARP mortgages, where either banks, private individuals, or the government could make claims against housing to satisfy such liens/suits, etc. Taxes would be the method of keeping the government funded as usual in some form, and when these funds, and new money was generated, say by a bank for a mortgage, the bank would not be able to claim ownership of the principle, just earning the interest on that principle, which would be "issued" by the government to increase the GNP by that the interest if ruled to be valid in the new system (a smaller correction factor, but arguable). This way, as the economy grew, the money supply would roughly track it to prevent inflation or deflation, but still have enough "wiggle room" to grow.

To make sure that the government didn't abuse the right to creat money such as the oxymoronic "federal reserve" has done, say with unncessary deficits, bailouts, etal. the states would contribute to the effort so that many eyes and hands were on the "tiller of the tally", using their powers of nullification to berate and empower to proper adjudication if necessary, the creation of new money to cover such excess printing, which might be needed, but need approval by those so affected, especially the states, as they must balance their books, unlike the Federal government, thereby making them more solvent for the sake of the nation as a whole. In times of congressionally declared emergency, deficit money could be generated, but that would be clearly spelled out, and challengeable by the states also, as well as in times of clear and imminent danger, when the POTUS could for a short time declare the need for extra money to be printed to demonstrably ensure the safety of the country.

Teaching the Fallacy of Composition: The Federal Budget Deficit -

"Almost everybody talks about budget deficits. Almost everybody seems in principle to be against them.
And almost no one, literally, knows what [they are] talking about." Robert Eisner, The Misunderstood Economy, p.90; With a government issued currency instead the Fed doing it, this act would not generate any "national debt". A deficit would merely inflate the currency by increasing the money supply to cover it, and decreasing the dollar's purchasing power to whit accordingly as we have been experiencing especially since the Reagan administration, and now the the "Quantitative Easing" ploy used by the "federal reserve" private banks, as they have totally debauched the currency with it, and they or their assigns have devised other ways to at least end up with as much of it as possible before the whole system crashes as people and governments around the world lose faith in the US Dollar. We will shortly need a new currency, much as Ben Franklin and Lincoln did during those trying times, but we should base it on something that we can stand behind with confidence as to its surrender value what with all the modernity at our disposal not as back then, and institute the proper "legal tender" laws to do it, gradually replacing the frn in orderly fashion so as to not cause panic in the banks, and so that proper adjudication can take place on a case by case basis to see if people's savings pass the "smell" test as to the money's origin, as the work ethic and property rights law would be invoked to pronounce a valid account of such money. "invalid" money, like any "QE" money, would not be redeemed, but destroyed, and it's value not counted, and the person involved would be investigated properly, with then perhaps forfiture, jail, etc. That way the new system would not "inherit" the evil of the past, but start afresh with freedom and fairness for all....but you'll never see it unless we all OWS or use as many such venues as can be devised to force new legislation to whit.

Tuesday, November 8, 2011

the New World Order, presented in part here so you won't have to wonder why the country is falling apart any longer.

"We are grateful to the Washington Post, The New York Times, Time
Magazine and other great publications whose directors have attended
our meetings and respected their promises of discretion for almost
forty years."
"It would have been impossible for us to develop our plan for the world
if we had been subjected to the lights of publicity during those years.
But, the world is now more sophisticated and prepared to march towards a
world government. The supranational sovereignty of an intellectual elite
and world bankers is surely preferable to the national
auto-determination practiced in past centuries."
-- David Rockefeller
(1915- ) Internationalist billionaire, CFR kingpin, founder of the Trilateralist Commission, World Order
June 1991 Baden, Germany
Source: Bilderberger Meeting, Baden, Germany
"The interests behind the Bush Administration, such as the CFR, The Trilateral
Commission -- founded by Brzezinski for David Rockefeller -- and the
Bilderberger Group, have prepared for and are now moving to implement open
world dictatorship within the next five years. They are not fighting against
terrorists. They are fighting against citizens."
-- Dr. Johannes B. Koeppl, PhD
former German defense ministry official and advisor to former NATO Secretary General Manfred Werne
Source: November 6, 2001, interview with Michael C. Rupert, From The Wilderness Publications, 2001
"Open the books … and you will be staggered to see how much American money has
been taken from the United States Treasury for the benefit of Russia. Find out
what business has been transacted for the State Bank of Soviet Russia, by its
correspondent, the Chase Bank of New York [owned by the Rockefellers]."
-- Louis McFadden
(1876-1936) US Congressman (R-PA) (1915-1935), Chairman of House Banking and Currency
Committee. Poisoned in 1936.
Source: 1933

Go ahead and "expate"; you mean as an X-patriot ?

  I think so, if you follow these people, including Romer. Go ahead and desert the country that gave you your standard of living and your rights that you won't find elsewhere; the greatest country the world has ever known, flawed as it always has been, but better than all the rest put together and now being destroyed by so many forces it will be truly the greatest if it survives...apparently without you ? Just imagine the degenerate world without won't last long abroad once that happens IMO, because if the world falls apart, it'll be that America does so last...we ARE the military power that is needed by those in control, and they need stalwart soldiers at a minimum, which is what our nation is becoming...and much less of everything else.

The Most Effective Political Ad We've Seen This Year

  'We Are Not Attacking The Corporations, But Endeavoring To Do Away With Any Evil In Them'      Teddy Roosevelt
 It's not how much the corporations make in dollars; it's how much they deprive every day Americans of that would make them basically prosperous commensurate with the results their work ethic that made the fortunes for the rich in the first place. Please consider this source somewhat differently as I have come to; they have their good moments it seems !

Monday, November 7, 2011

the usurious, legally fraudelent and unconstitutional "national debt"

We are starting to see the death throws of what could have been a great nation, but which has been
co-opted by economic forces that have set up a monetary system long ago of fraudulent
totalitarianism, from which there is no direct escape as evidenced by the usurious "national debt",
which is their masterpiece of "creative accounting", now called "quantitative easing". 

"In March, 1915, the J.P. Morgan interests, the steel, shipbuilding, and powder interest, and their subsidiary organizations, got together 12 men high up in the newspaper world and employed them to select the most influential newspapers in the United States and sufficient number of them to control generally the policy of the daily press. … They found it was only necessary to purchase the control of 25 of the greatest papers. An agreement was reached; the policy of the papers was bought, to be paid for by the month; an editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies, and other things of national and international nature considered vital to the interests of the purchasers."-- Oscar Callaway(1872-1947) U.S. Congressman, TX-D (1911-1917)Source: Congressional Record of February 9, 1917, page 2947, as entered by Representative Oscar Callaway of Texas

"For the first time in its history, Western Civilization is in danger of being destroyed internally by a corrupt, criminal ruling cabal which is centered around the Rockefeller interests, which include elements from the Morgan, Brown, Rothschild, Du Pont, Harriman, Kuhn-Loeb, and other groupings as well. This junta took control of the political, financial, and cultural life of America in the first two decades of the twentieth century."-- Carroll Quigley(1910-1977) Professor of International Relations, Georgetown University Foreign Service School, Washington, D.C., member of the Council on Foreign Relations (CFR), mentor to Bill ClintonSource: No source found. Supposedly from 'Tragedy and Hope: A History of the World in Our Time' (1966)

"The whole profit of the issuance of money has provided the capital ofthe great banking business as it exists today. Starting with nothingwhatever of their own, they have got the whole world into their debtirredeemably, by a trick.This money comes into existence every time the banks 'lend' anddisappears every time the debt is repaid to them. So that if industrytries to repay, the money of the nation disappears. This is what makesprosperity so 'dangerous' as it destroys money just when it is mostneeded and precipitates a slump.There is nothing left now for us but to get ever deeper and deeperinto debt to the banking system in order to provide the increasingamounts of money the nation requires for its expansion and growth.An honest money system is the only alternative."-- Frederick Soddy(1877-1956) British author, professor, Nobel Prize for Chemistry, 1921

Bank Of America has just Dumped $75 Trillion In Derivatives On U.S. Taxpayers With Federal Approval.

As if we aren't in enough debt trouble, now the Bank Of America has Dumped $75 Trillion In Derivatives On U.S. Taxpayers With Federal Approval. Say what ? ? ? 75 Trillion, with a "T" ! ! !

Bloomberg reports that Bank of America (BAC) has shifted about $22 trillion worth of derivative obligations from Merrill Lynch and the BAC holding company to the FDIC insured retail deposit division. Along with this information came the revelation that the FDIC insured unit was already stuffed with $53 trillion worth of these potentially toxic obligations, making a total of $75 trillion.

Our Congress isn't Corrupt, right?

Just when you thought it couldn't get any worse, Jack Abramoff Gives Away the Corrupt Insider's Game in "Our" Congress on 60 Minutes  .

Senator Bernie Sanders is beginning a study of possible Fed reform

November 3, 2011
The Veil Of Secrecy At The Fed Has Been Lifted, Now It's Time For Change
Sen. Bernie Sanders describes his plans for reforming the Federal Reserve system.
As a result of the greed, recklessness, and illegal behavior on Wall Street, the American people have experienced the worst economic crisis since the Great Depression. Millions of Americans, through no fault of their own, have lost their jobs, homes, life savings, and ability to send their kids to college. Small businesses have been unable to get the credit they need to expand their businesses, and credit is still extremely tight. Wages as a share of national income are now at the lowest level since the Great Depression, and the number of Americans living in poverty is at an all-time high.
Meanwhile, when small-business owners were being turned down for loans at private banks and millions of Americans were being kicked out of their homes, the Federal Reserve provided the largest taxpayer-financed bailout in the history of the world to Wall Street and too-big-to-fail institutions, with virtually no strings attached.
Over two years ago, I asked Ben Bernanke, the chairman of the Federal Reserve, a few simple questions that I thought the American people had a right to know: Who got money through the Fed bailout? How much did they receive? What were the terms of this assistance?
Incredibly, the chairman of the Fed refused to answer these fundamental questions about how trillions of taxpayer dollars were being spent.
The American people are finally getting answers to these questions thanks to an amendment I included in the Dodd-Frank financial reform bill which required the Government Accountability Office (GAO) to audit and investigate conflicts of interest at the Fed. Those answers raise grave questions about the Federal Reserve and how it operates -- and whose interests it serves.
As a result of these GAO reports, we learned that the Federal Reserve provided a jaw-dropping $16 trillion in total financial assistance to every major financial institution in the country as well as a number of corporations, wealthy individuals and central banks throughout the world.
The GAO also revealed that many of the people who serve as directors of the 12 Federal Reserve Banks come from the exact same financial institutions that the Fed is in charge of regulating. Further, the GAO found that at least 18 current and former Fed board members were affiliated with banks and companies that received emergency loans from the Federal Reserve during the financial crisis. In other words, the people "regulating" the banks were the exact same people who were being "regulated." Talk about the fox guarding the henhouse!
The emergency response from the Fed appears to have created two systems of government in America: one for Wall Street, and another for everyone else. While the rich and powerful were "too big to fail" and were given an endless supply of cheap credit, ordinary Americans, by the tens of millions, were allowed to fail. They lost their homes. They lost their jobs. They lost their life savings. And, they lost their hope for the future. This is not what American democracy is supposed to look like. It is time for change at the Fed -- real change.
Among the GAO's key findings is that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the GAO, the Fed actually provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
The GAO has detailed instance after instance of top executives of corporations and financial institutions using their influence as Federal Reserve directors to financially benefit their firms, and, in at least one instance, themselves.
For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed's emergency lending programs.
Getting this type of disclosure was not easy. Wall Street and the Federal Reserve fought it every step of the way. But, as difficult as it was to lift the veil of secrecy at the Fed, it will be even harder to reform the Fed so that it serves the needs of all Americans, and not just Wall Street. But, that is exactly what we have to do.
To get this process started, I have asked some of the leading economists in this country to serve on an advisory committee to provide Congress with legislative options to reform the Federal Reserve.
Here are some of the questions that I have asked this advisory committee to explore:
1. How can we structurally reform the Fed to make our nation's central bank a more democratic institution responsive to the needs of ordinary Americans, end conflicts of interest, and increase transparency? What are the best practices that central banks in other countries have developed that we can learn from? Compared with central banks in Europe, Canada, and Australia, the GAO found that the Federal Reserve does not do a good job in disclosing potential conflicts of interest and other essential elements of transparency.
2. At a time when 16.5 percent of our people are unemployed or under-employed, how can we strengthen the Federal Reserve's full-employment mandate and ensure that the Fed conducts monetary policy to achieve maximum employment? When Wall Street was on the verge of collapse, the Federal Reserve acted with a fierce sense of urgency to save the financial system. We need the Fed to act with the same boldness to combat the unemployment crisis.
3. The Federal Reserve has a responsibility to ensure the safety and soundness of financial institutions and to contain systemic risks in financial markets. Given that the top six financial institutions in the country now have assets equivalent to 65 percent of our GDP, more than $9 trillion, is there any reason why this extraordinary concentration of ownership should not be broken up? Should a bank that is "too big to fail" be allowed to exist?
4. The Federal Reserve has the responsibility to protect the credit rights of consumers. At a time when credit card issuers are charging millions of Americans interest rates between 25 percent or more, should policy options be established to ensure that the Federal Reserve and the Consumer Financial Protection Bureau protect consumers against predatory lending, usury, and exorbitant fees in the financial services industry?
5. At a time when the dream of homeownership has turned into the nightmare of foreclosure for too many Americans, what role should the Federal Reserve be playing in providing relief to homeowners who are underwater on their mortgages, combating the foreclosure crisis, and making housing more affordable?
6. At a time when the United States has the most inequitable distribution of wealth and income of any major country, and the greatest gap between the very rich and everyone else since 1928, what policies can be established at the Federal Reserve which reduces income and wealth inequality in the U.S?
Given the growth of the Occupy Wall Street movement and given the concerns of millions of Americans about Wall Street, we now have a unique opportunity to make significant changes to one of the most powerful and secretive agencies of the federal government. One thing is abundantly clear: Americans deserve a Federal Reserve that works for them, not just the CEOs on Wall Street.

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Sunday, November 6, 2011

Illinois joins the wallstreet abusers of working Americans !

TREASON against the work ethic that built America ! Taking workers state taxes...and giving it to the companies they work for instead of the government ! ; WHAT? read that again... We are losing the nation ! Call or write your congressmen NOW or it will all be over soon with more of such worker abuse ! As I keep posting in many places, the government must heavily tax or otherwise forbid major expatriative capital flight, off-shoring of untaxed monies and assets, as well as outsourcing of jobs and whole industries or we will be actually "3rd-worlded", "de-nationalized". Read it again and listen...and crab at somebody... a lot. This needs the likes of another type of OWS !  Where are all the attourney generals and the potus, usag, let alone congress on this one ?

Saturday, November 5, 2011

Bank Transfer Day (Today) Is Only the Beginning of Something Huge

Bank Transfer Day (Today) Is Only the Beginning of Something Huge. Just as the OWS movement is changing American attitudes, this idea could make a real difference to help save our country from the rapcioius banks and wallstreet. The movement to make sure our money serves our own values rather than the bottom line of huge banks will only gain energy as small victories accumulate. Try a credit union or the Bank of North Dakota (with it's wonderful, legally binding mission statement to use all profits for new valid loans or to be returned to the tax payers of the state), but really we need a big national list to choose from ...feel free to add one !

Friday, November 4, 2011

Help save America from wallstreet !

We're down for the count folks; it's only a matter of time before the rapacious wallstreet/k-street/MIC/ federal reserve and congress bleed us dry with taxes and inflate away or eliminate entirely, our earned entitlement program monies, ie. especially social security and some medicaire (not medicaid, which should be curtailed moreso), let alone increase taxes and over-regulation to the point where businesses can't survive as we lose our jobs, homes and hopes of any American dreams we may have had in the past, what now that the malfeasant, usurious absconders have expatriated scot-free with unrestricted major capital flight to undisclosed locations world-wide with international immunities, off-shore accounts, and have outsourced jobs and whole industries abroad to the great detriment of all of us potentially to the point of treason against the Constitution on various grounds, endangering the very existance of our national sovereignty.  this last point should especially resonate with those who have sworn to "protect and defend the Constitution" of the United States of America.  One has only to read the liner notes on Amazon of David Rockefeller's book to see what is going on...New World Order, as former potus bush's videos also announce.  With the loss of so many basic rights, ie., habeas corpus, and with such horrid legislation as the oxymoronic "patriot act", and "citizens united", the same, to name a few, I foresee a complete erosion of our American way of life in the not too distant future as one of my greatest fears for us all.