World Wide Economic Collapse
By Richard Salbato
World "experts" in
money markets like Cliyde Prestowitz, Warren Buffet and George Soros are
betting on a major crash of the dollar in the near future. Prestowitz thinks it will be greater than
the Great Depression of the 1930s. With
trade deficits over 650 billion this year (more last year) we have placed our
future in the hands of non-Americans.
Our deficit is financed by the central banks of countries like China and
Japan. In fact all the world banks are
chock-full of US dollars, much more than they want or need for trade.
Why are they holding more
dollars than they want or need? It is
simple. They are holding up the dollar
for their own selfish reasons. If the
dollar collapses the whole world economy collapses because there is no
alternative yet to the dollar. Right now
if the dollar crashes so would the economies of China and Japan and much of their
holdings are in American banks.
However, Russia and India are
also big dollar holders and do not have a large stake in keeping America strong
because they do not have a large trade with America. Other central banks like Chile, South Korea, Zimbaqbwe, Sudan,
South American, etc. also hold large deposits of dollars.
However, the supremacy of the
dollar world wide is under a challenge by the Euro. For the time being the Euro is struggling and is not yet a safe
bet to jump into instead of the dollar.
The failure of EU to ratify their constitution may have just postponed
the master plan of the Socialists of Europe to cripple American by creating an
alternative to the dollar.
If you have not yet read
SOVIET ROOT OF SOCIALIST EUROPEAN UNION read it now. http://www.unitypublishing.com/Government/EUSSR-US2.htm
Master Plan To Isolate America
People who think it was
possible to take down the Trade Center twin towers with just airplanes have
their heads in the sand or just have no concept of engineering. But if the Twin
Towers 9-11 disaster was a global conspiracy, who would gain by it?
Again you must look back at
the master plan of the new marriage of Soviet Socialists and European Socialists
in the early 1980s for a possible answer.
The plan was to create a European alternative to the dollar, with a
unified economic zone comprising Russia, East Europe, West Europe and any
others willing to join in all with a Socialist agenda. But the problem was that the American
economy was booming, the American army was stronger than the rest of the world
combined, and every socialist attempt in the past failed economically. Russia's economy was almost in ruins in the
early 1980s, the communists in Italy failed to take the country over and thanks
to Padre Pio, Christian Democrats actually got stronger. In France the communists were defeated in
the same year, maybe by Our Lady of L'Ile de Bourchard who
in the same year, 1947 asked for prayers for France. (See below Note 1)
In spite of these failures
Socialists could not see the basic failure of their thinking (social economics
vs. market economics) but instead blamed their failure on the lack of a unity
of nations under socialism. Communism
at one time controlled 70% of the world population but only 17% of the world's
wealth, but even this does not sink into their heads. They had a new plan to take over the productive countries and
isolate America, who they could not penetrate.
There plan was to create a new international currency called the Euro
and kill the power of the dollar.
Unilateralists supported the plan, many who are in high American
government positions.
The wars that followed the
9-11 bombing, the massive deficit and the overpriced fuel oil today benefits
only one group of people, the Internationalists, who helped create the Euro and
the European Union. As long as America
stays strong, a world wide Socialist Government is impossible.
Immediate Economic Danger
Right now, the US dollar
is probably 40 per cent overvalued versus the Japanese yen or the Chinese
Renminbi. The fear in the short term is that one country will be willing to
sacrifice its own interest to dump the dollar.
Just like the stock market, the first out is going to loose the least
money and everyone else will be holding dollars at less value. What if some small Islamic country decides
they have too many dollars and dumps $10 billion all at once? Panic will set in the rest of the world, and
everyone will start getting out of the dollar leaving those holding dollars
with half its present value.
Russia just sold
China a stock of Russian Missiles and took dollars as payment, so they now hold
more dollars then they did last week.
Since they are betting on the Euro they could weaken the dollar and
strengthen the Euro by selling dollars and buying Euros. The only thing that might hold them back is
the worry that the Euro is going to fail and it is more fragile than the dollar
right now.
The Chinese
Renminbi is under priced and they would not take dollars except as a way to
sell cheap goods. What is saving the
dollar is not faith in the dollar but the lack of an alternative. The Euro is over valued causing massive
unemployment in Germany, France, Italy and Portugal. They are sacrificing their own economies to weaken the
dollar. The Euro is on thin ice right
now because if any one of the Euro countries decides to drop the Euro it will
fall apart. Three countries could
easily do this and soon, Poland, Portugal and Italy. There is a lot of pressure in Germany to drop the Euro also.
Perhaps the
greatest immediate danger to the dollar is that the Internationalists see what
I see, and that is that the only way to save the Euro is to crash the dollar as
soon as possible. This is my fear since
I live on the dollar in a European country.
Another danger is
Hedge Funds who bet on future trends and leverage their bets 20 to one. There are 8000 Hedge Funds in the USA alone
and trade $6 trillion on the international markets everyday. One such Hedge Fund manager is Warren
Buffet, who is betting $US 21 billion against the dollar. Another is George
Soros who has also made a huge bet against the dollar. Even if these people are wrong, small
investors tend to follow the big ones and these people control markets by
getting large amounts in first and then telling everyone what they did. This creates a self fulfilling prophesy and
they know it.
The American Debt
Debt is not a
problem to people or to nations providing that the debt produces more wealth
than it costs - it produces more than it costs in payments per year. Let us look at the American debt. The current debt (deficit, promises for those big programs, pensions, veterans
health care) comes to a total of $43 trillion -$145,000 per American , or
$350,000 for every full-time worker.
The trade deficit -
the difference between what America imports and what it exports - is the
highest it's ever been, both in absolute numbers and in comparison to the size
of the economy. As a society, Americans
are on track this year to spend $680 billion more on foreign goods such as
Chinese-made clothes, Japanese-made cars and Scandinavian cell phones than
overseas buyers do on American goods. It is now, roughly 6.5 percent of the
total economy.
Americans, who go
into debt to keep living a life beyond their means, are spending more and more
of that borrowed money to buy goods from overseas. At the same time, the government provides more services to the
public than it can afford to - and goes into debt to cover the cost.
Other nations
actually purchase that debt, in the form of U.S. Treasury bonds and notes.
Those bonds have increasingly been snapped up not just by private investors but
by foreign banks. Japanese investors hold the most U.S. debt, but China has
been buying more than any other country in recent months. The biggest trade deficit is with China at
$162 billion. Japan is next, at $75 billion.
In a very real
sense, the U.S. economy is dependent on the central banks of Japan, China and
other nations to invest in U.S. Treasuries and keep American interest rates
down. The low rates keep American consumers buying imported goods.
But the lack of
fiscal discipline in the United States is undermining the value of the American
dollar, thereby lowering the value of the U.S. Treasuries in foreign banks. As
the dollar's value drops, other nations' willingness to keep investing cannot
last.
If those banks
reduced their dollar holdings or were simply less willing to invest so much, it
could spark a sharp fall in the value of the dollar and that could create a
host of economic problems.
China's decision
last month to uncouple the value of its currency from the dollar and tie it
instead to a basket of different currencies could make the dollar's position
less exposed to a quick shift by international investors - or it could spur
those investors to look elsewhere and leave the United States' position more
precarious.
$100 Dollar A Barrel Oil as Another War
Tool
Oil right now is
overpriced by manipulation of OPEC, even to their own disadvantage. The proper price of oil right now allowing
for inflation is about $35 dollars a barrel.
In the past OPEC held oil at a price that did not allow alternative
sources of oil to come forward, like oil shale, vegetable oils, nuclear power,
and electric cars. They will not hold
the price of oil up long because the alternative sources are already starting
to pump up again, so why have they done this in the first place and why did big
speculators know in advance that OPEC was going to do this? This has nothing to do with supply and
demand, it has to do with creating another way to have another stock market
crash.
The real danger is
not the price of oil but oil futures.
Assume there is a trillion dollars out there on oil futures betting that
oil will be at 70 to 100 dollars a barrel and it drops to its real value of 35
dollars a barrel. It will make the
dot-com crash or the coming housing crash look like a walk in the park.
Is Gold a Hedge Against a World Wide
Crash?
The Bank of China
and China's other three major banks are starting to sell gold to Chinese
citizens, all 1.2 billion of them. So what's changed? Well, the problem that
Chinese gold has had in the past is miserable distribution. But now that all
four Government controlled banks are involved, expect distribution to improve
dramatically. More Chinese are buying gold than ever!
India deregulated
their gold trade eleven years ago. Since then, consumer demand there has been
averaging 31 percent annual growth! Bear in mind that India's population is 1
billion and the nation is already "consuming" about 38 percent of the
world's annual gold production.
The rising Muslim
gold dinar - the Middle East's popular new gold bullion coin - will also cut deeply
into gold production, spurred by fear over war, terrorism, and the weakening
dollar. If Middle Eastern demand soars
to the tune of $10-20 billion in new gold purchases, it could essentially take
gold "out of circulation and push its price to $2,000 an ounce,"
according to respected analyst Nick Guarino.
That is a good bet
with the fears on other currencies but would gold save you from a world wide
economic crash? I do not think so. People who have consumable things, like food,
water, fuel oil etc. are not going to give them up for something they cannot
eat or trade. Those who have consumable
things and a way to protect them are going to be in power. Maybe this is why the Internationalists like
the World Bank are buying up natural resources like water and electric rights
in third world countries.
The great advantage
of America in such a world wide crisis is its farms and its army. America has the largest and most efficient
farm system in the world and the strongest army. Somehow this reminds me of Joseph's Egypt. Knowing that the world was going into a
famine, he stored up 7 years of grain and then used this to put into his power
most of the world. This is what I think
would happen in a world wide economic crash but in the short run, about 4 years,
things are not going to be good for America or the world.
Is The Federal
Reserve Pro American?
One way for America
to control the Dollar is for the government to regulate it as the constitution
demands, but it does not. Most people
think it does but in fact a OPEC type of international bankers control the
dollar.
Thomas Jefferson
once said that a private central bank (like the Federal Reserve) which issues
the public currency was “a greater menace to the liberties of the people than a
standing army.” Speaking on the floor
of the House of Representatives on June 10, 1932, Congressman Louis T. McFadden
launched a twenty-five minute tirade against the Fed.
"Mr. Chairman,
we have, in this country, one of the most corrupt institutions the world has
ever known. I refer to the Federal Reserve Board and the Federal Reserve banks.
The Federal Reserve Board has cheated the government of the United States out
of enough money to pay the national debt.”
What the Fed
Reserve does is create money out of nothing and charges interest for it. One way they do
this is by increasing the money supply whenever a loan is made. When the
funds from a loan are deposited in a bank account, the money supply is
increased – from thin air. If you ever wondered why our economy is
so dependent upon credit to survive, you might want to think more about this
little-known fact.
The Federal Reserve
is a banking cartel. A cartel is a group of independent businesses joined
together to coordinate the production, pricing, or marketing of a product for
members -- very much like OPEC does for oil producing countries in the Middle
East.
The Federal Reserve
is a cartel of bankers and investment bankers who coordinate the production,
pricing and marketing of money in the United States. Member banks own the
Federal Reserve System. Private investors own member banks.
Who are these
private investors? Are they pro
American? Are they International
Investors? Are they internationalists? Do they care if the dollar crashes? Who can say? What is for sure is that they are in control and they are not
part of the American Government. (See Note 2)
The Socialists Failure
Why not let the
world become Socialist, after all socialists are pro worker and anti
business? In France when Nestlé closed down its factory, the government made
it open up again even though it was loosing money. In Portugal if a business wants to lay off a non-productive
worker, it may have to pay him a years severance pay and be sued for doing
it. This is good for people, right? The French worker works 32 hours a week and
has twice as much vacation time as Americans.
This is good, right?
The answer in the
short term is "yes" but in the long term is "no". The short sighted see the good but not the
results of this apparent good. Nothing
happens until someone does something.
The more someone does the more things happen. There are people who know how to make things happen and do it
with the least amount of time and work.
People's worth,
what they have and how they live depend on the production of something. A nation's worth depends on the same thing,
people producing something that creates wealth. The failure of socialism is that they reward the non-productive
and penalize the productive. They do
this with taxes on business profits and regulations on labor including fixed
benefits.
An
example of the failure of Socialism is Germany's Volkswagen in 2005. Volkswagen's net income per 1,000 employees
is $2.7 million compared with $76.9
million at Toyota, the world's second-largest car-maker. And its net income of
€677 million (£461m) was down 77 per cent from 2001's €2.9 billion. Volkswagen has 10,000 too many workers but
because of Socialist government regulations it cannot lay them off. Volkswagen
needs to cut these 10,000 jobs to even survive in Germany but under
socialist regulations it will never happen.
Unless Germany goes back to a Market System, Volkswagen will move to the
golf of Portugal where production costs will be over €1,000 cheaper per
vehicle. Germany's Socialism will then loose 150,000 jobs and the tax that
comes with them. Considering that
Volkswagen is the pin of Germany's economy, it could pull Germany out of the
top 10 industrialized counties.
The French -
especially the country's 18-to-30 year-old demographic - have had it with the
nation's archaic socialist economic policies and they're pulling up stakes and
heading west in great numbers. Fed up with a country they describe as rigid,
racist and old-fashioned, French youngsters are opting for a new start in
Britain, Canada, America or New Zealand, where they can find housing and jobs
more easily than in France. Currently, unemployment among the under-25s in
France stands at 23.3%, and 40% of 18-to-30 year-olds describe their financial
status as "difficult."
A cultural gap is
opening up between the young French people and the rest of the country's
society. [The] 18-to-30-year-olds have an image of a rigid, authoritarian
country lacking flexibility. They are looking for a more flexible hiring system
... and they head for those countries where the culture of little jobs is more
developed.
Capitalism is an economic, political and social system based on private
ownership of property, business and industry, and directed towards making the
greatest possible profits for successful organizations and people. Its weakness is in its failure to take into
consideration the good of the entire society.
However, a compromised version of Capitalism (something like
Supply Side Economics) which I call a Market Economic System works best. The
Market System works on what is best for the individual and the society as a
whole, whereas the Capitalist system works on what is good for the
individual alone.
Examples of Market Economic Systems were used in two very
depressed cities in America. They had
no industry, therefore no tax base, therefore no way to create a good social
system. Understanding that they had to
attract industry to their towns they offered free land to large companies, free
electric and water for years, and promised roads and labor without red
tape. Large industries took up this
challenge and these two cities became strong and prosperous overnight. The people had jobs and bought homes and
cars and got off government welfare systems.
Ireland had done the same and went from a very poor country
to a very rich country overnight but after a change in government and the
acceptance of the Euro, they are now heading down hill like Germany and
France.
Countries that have switched from a Socialist system to a Market
system and are growing in leaps and bounds are Nicaragua, Panama, New Zealand
and, in some ways, Brazil.
Socialists fool
themselves because in truth you cannot tax a business even if you think that
you can, nor should you tax them.
Let me give you an
example of why you cannot tax business.
I make something
that costs 1.00 and the government taxes me .25 cents so now my costs are 1.25
because tax is also my costs. I want to
make 10% profit so my profit is greater because of the tax by 2.5 cents than it
would be if I was not taxed. So as a
company I make more money with tax than without it. Who pays the tax? The
company does not pay the tax but the buyer of my product pays the tax.
Now let me tell you
why you should not tax business.
If I make 100,000
dollars in business and take 25,000 for myself and leave 75,000 in the business
for expansion, more people, more material, etc. then this 75,000 is not a
profit at all. Now if the government
charges me tax on the 75,000 I have less to create more production and I will
hire less people. Less production means
less jobs and less jobs means less money for governments. That is why supply side economics produces
more money for governments.
Instead of punishing
people for production and savings we should only tax spending - the sales
tax. Successful people want good things
and we can get the money from them that we lost in the taxing of businesses by
taxing their excessive and unproductive buying. In truth we were never able to tax the business anyway.
The completely
unregulated Capitalism of the time of St. Pius X was immoral and should never
come back - child labor, long hours, low pay, etc. But today pure capitalists (The Internationalists) have found a
way to make huge profits from the same methods under pure Capitalism by buying
products from China and moving their companies to China and now we have the
same immoral child labor, long hours and low pay. Unless the world stops buying from China, the Internationalists
will take over the world.
Good News In Europe
There are some good
signs that Europe is waking up to the failures of Socialism but my fears are
that it may be too late or that the Internationalists will see this as a
warning to move more swiftly than they had wanted to in order to crash the
dollar.
In
Germany the socialist are about to be kicked out of office with a new political
regime, under Angela Merkel. She is
promising a 25% flat tax and the elimination of 90,000 individual tax rules.
Her
future finance minister, Paul Kirchoff says: "We will smash down the tax
barriers, break the cycle of resignation. I'll be there myself on hand with a
big sledgehammer. We want to give the citizens back their freedom and let them decide
for themselves what they want to do with their incomes."
And
more and more European Union countries are following a similar path with
Germany. The Netherlands, Denmark,
Sweden, Austria, Belgium and Spain are going to adopt the same Market Systems (as
apposed to the Socialist Systems), with the present governments or with what
seems evident in the change of governments.
Poland, Slovakia and the Baltics are also considering entering the flat
tax system and the elimination of tax rules.
Only France,
controlled by the Unions, seems sure to remain Socialist. The French take 54% of the GDP in Tax.
Germany's orders for goods and supplies flowing in from eastern
Europe and the Pacific Rim has made Germany the world's largest exporter. Germany's trade surplus is now greater than
that of China, Japan and India combined, having reached a staggering 16.8
billion Euros in June alone. And the profits raked in by German companies are
running at over 33% of national income.
All told, foreigners poured almost $87 billion into German equities in
May and June alone. They do so in
the hope that the country's high unemployment rate - which stands at 10.4% -
and an imminent government changeover will see Social Democrat Gerhard Schroder
walking off into the political sunset.
Can America Stop A World Wide Economic
Crash?
If there is a world
wide economic crash it will be because of the dollar, therefore only America
can stop it. But will they do what they
must do to stop it. America needs to produce more of its own consumption and
stop buying so much from the likes of China. America is fast becoming an
information and service country instead of what made it great, its factories of
production. Germany has kept their
factories and with a new government may free them up to become even greater and
stronger than now. In other words, make
it easy for production of goods.
America is doing the
right thing regarding lowering tax to stimulate the economy but not doing
enough to cut federal spending and red tape.
I would prefer a flat tax. Americans need to leave more money in the
bank and get rid of credit debts on both individual and government levels.
Most important for
the short term is that America needs to see the Socialist Euro as an enemy. By making an economic deal with one or more
of the European countries, America can kill the Socialist Euro plans because it
only takes one country with a Market Economic System in Europe to show first
hand the weakness of Socialism. This could be the new government of Germany that
seems sure to win the upcoming election. It will be like East and West Berlin.
But who in the American government is not in bed with the Internationalists
bent on creating a Socialist world?
Even if America has
to continue to spend $3.00 a gallon for gas, I believe it should do so to
become independent of Arab oil.
Farmable oil, oil shale, Alaska oil, off shore oil, South American oil,
who cares - as long as it is not Arab oil.
Without western money terrorists would die out. Can this be done? Yes! Offer more money to other oil producing nations and less to
Arab nations and it will happen by itself.
By simply offering more than they are asking for you can kill the OPEC
cartel.
Stop rewarding
people for hating you. An interesting
note is that the only Arab countries that I can consider friends of America are
Jordan, Lebanon and Turkey and none of these produce oil.
Will This be the Start of the Great
Chastisement?
Our Lady of Fatima
promised that in the end Her Immaculate Heart will triumph and there will be a
period of peace in the world. This has
not happened and in fact it does not seem possible the way the world is going
now. Trying to figure out how this
could happen I wrote "What is The
Triumph of the Immaculate Heart of Mary?"
http://www.unitypublishing.com/Government/index-Government.htm It is about three hours of reading. I also wrote The Ark of Apocalypse, a
fiction story about the future based on how I thought this triumph of Mary
would take place.
Considering that
from a theological point of view, peace without justice is not peace, then
there is no peace unless there is world wide justice. The peace of the Romans was just the lack of war, but without
justice. Mary's peace has to be with
justice for all, quoting the American constitution.
Last year all the
bishops of Nicaragua, celebrated the anniversary of Our Lady's apparitions
there, where she predicted a third world war.
Also in this same century Our Lady of Akita, Japan talked about a world
wide war. A world wide war in terms of
many countries going against many other countries is not possible today since
there is only one superpower, American.
Even if America was
hit with a first strike destroying all her cities, they still would win a war
just with their Tridentine Submarine system, which could take out all the major
industrialized countries of the world and more. However, there is a world wide war that could happen and this is
what I wrote about in 1984 in The Ark of Apocalypse - simultaneous civil wars
world wide.
The only thing that
could cause a world wide simultaneous civil war scenario is a world economic
crash. This is the only scenario that fits all the 104 prophesies I
have read and the only scenario I can envision that can bring about Mary's
Triumph.
The price will be
high and no one will like it but in the end God will not be mocked by anti-God
governments like in Europe, anti-life governments like in America and England,
anti-freedom governments like in China and
some Arab countries. God will
not be mocked by liberal theologies in the Catholic Church or the disobedience
of traditionalists, or the acceptance of false apparitions, or the 80% of
Catholics who practice birth control and have abortions.
God will not be
mocked by the failure of Christians to come together in the true Body of Christ
even after 70 years of pleading. God
has to do this because we are not doing it.
I am convinced God will shake the world into sanity and I look forward
to it. You might as well look forward
to it, because there is no other way to bring about peace with justice.
If Somalia and
America's civil wars are any guide line, we can expect more deaths in civil
wars than in all the other wars combined.
Maybe, as the bible says, there will be few people left on earth after
this.
Rick Salbato
Note 1
Our Lady of L'Ile Bouchard,
France, December 8, 1947
The Virgin Mary
said several times, the purpose of this apparition is to ask to PRAY FOR
FRANCE. What was happening in France in
1947? The Communist Party was very strong, and many workers became
Communist and anti-Church./3210 http://www.theotokos.org.uk/pages/approved/appariti/lilebouc.html
Note 2
The Federal Reserve System
The birth of the
Federal Reserve began one windy November night in 1910 at a New Jersey
train depot. Rhode Island Senator Nelson Aldrich, the political spokesman
at the time for big business interests, hosted a “hunting” party. His
private railway car was hooked to a train that, after a few transfers to other
trains, would get people close to Jekyll Island. They were then
transported by yacht to the island.
In 1935 Frank
Vanderlip made an interesting confession. He wrote:
“I do not feel it is
any exaggeration to speak of our secret expedition to Jekyll Island as the
occasion of the actual conception of what eventually became the Federal Reserve
System.”
Senator Aldrich’s
party consisted of:
- Abraham Piatt Andrew, Assistant Secretary of the United States Treasury
- Frank A. Vanderlip, president of National City Bank of New York (now
Citibank, then representing William Rockefeller and Kuhn, Loeb & Co, international
investment bankers)
- Henry P. Davison of J.P. Morgan Company
- Charles D. Norton, president of J.P. Morgan’s Bankers Trust Company
- Paul M. Warburg, a partner in Kuhn, Loeb & Company, was also part of the
group.
Warburg represented
the Rothschild banking dynasty in England and France.
Mr. Warburg was the
brother of Max Warburg who headed a banking consortium in Germany and the
Netherlands.
It is clear these
are the men who created our Federal Reserve System. It is equally clear
none of them are viewed historically as patriots. They are known for being
concerned with building and maintaining the traditional wealth housed in Europe
and on the East Coast of the United States.
The plan that
emerged from Jekyll Island was pretty simple. These men wanted a central
bank that allowed them to control the money supply in the U.S. They knew
Americans would not tolerate a central bank. Many Americans of the day
had emigrated from Europe. They knew how central banks operate. An
entity had to be created that looked like a duck, walked like a duck, but was
not called a duck -- or, a central bank. Further, the entity had to look
like it was controlled by Congress, but a majority of its members would be
selected by privately-owned banks that owned the largest portion of its stock.
Is this significant? Does it
matter? In 1913, $1,000 could buy what it took $10,000 to buy in 1994.
Regional Reserve
Banks hold cash reserves of the system, supply currency to member banks, clear
checks, and act as fiscal agents for the government. Member banks elect
directors of the regional Reserve Banks in each of their regions. Larger
banks -- Bank of America, Citibank and Chase Manhattan, for example -- hold
more shares than smaller banks. However, they have only one vote in the
selection of Regional Reserve Bank directors.
The Federal
Open-Market Committee implements monetary policy set by the national
Board. It, however, controls most of its own policy. It manipulates
our money supply and interest rates by purchasing or selling government
securities. It may do this via the purchase or sale of foreign currencies
and securities of other governments.
Money is created
and interest rates go down when the Fed purchases. When the Fed sells
government securities, the money supply is reduced and interest rates go up.
The Committee is
made up of the national Board of Governors plus five of the twelve regional
Presidents. Twenty-four bond dealers handle all sales of government
securities. Government agencies may not exchange with each other without
paying dealers’ commissions on each transaction (talk about a sweet deal for
bond dealers!).
Fed monetary policy
decisions are made at secret meetings. We, the public, get a brief report
a few weeks after decisions are made. Transcripts of deliberations are
destroyed ... a policy which started when, in 1970, the Freedom of Information
Act was passed. Theoretically, the CIA cannot get away with the kind of
secrecy this non-government board can!
The federal
government does not own any stock in the Federal Reserve System. The Fed
is privately owned. However, member banks may not sell or pledge their
stock nor does it carry voting rights. No matter how many shares of stock
a bank owns, it gets only one vote. In essence, owning stock in the
Federal Reserve doesn’t imply ownership. It just shows how much operating
capital each bank has in the system.
The U.S., except
for a brief period of time, operated without a central bank from the time the
nation was founded under the Constitution, in 1789, until 1913. Unless my
math is off, that’s 124 years. We have operated under the concept of a
central bank (Federal Reserve) for only 78 years.
The Congress could
abolish the Federal Reserve System by a single majority vote. If the vote
is vetoed by the Executive Branch of government (the President), a two-thirds
majority vote would be required to override the veto. If the System is
abolished, all bank-clearing functions can easily be transferred to the
Treasury. The power to “coin money and regulate the value thereof” could
once again fall under the oversight of the Congress, where our Constitution
says it should be.
There is an
excellent book about the Fed and the tale of Jekyll Island. I highly
recommend The Creature from Jekyll Island by G. Edward Griffin,
published by American Opinion Publishing.
Since no agency,
government or otherwise, has more impact on our financial lives than the
Federal Reserve, it is a topic with
Note 3
Editor, publisher
Mr. Clausen of Germany had a meeting with Mr. Lammert, former Secretary of
State and now head of the election campaign for the Christian Democratic Party
(CDU) in Germany. Mr. Clausen wanted to show him the booklet by Vladimir
Bukovsky called "EUSSR: The Soviet Roots of European Integration" and
by so doing help the Christian Democratic Party win back Germany from the
Socialists.
However Mr. Lammert
would not even read the book.
"Gorbachev is a person highly esteemed in Western Europe and much
liked altogether. As far as the traitor La Fontaine (who, along with the
Communist Gysi is running for office for the Socialist Party) Mr. Lammert said,
"One can not confront him with such facts during an election
campaign."
The question
remains, if not in an election campaign to expose him for what he is, when is
the appropriate moment for exposure? Is the CDU only pretending to be
anti-socialist. It seems the EU has
control of both parties in Germany.
It appears they are
working hand-in-hand with the Communists of Moscow to turn Germany, along with
all Europe, into a communist block. The so called chancellor to be of the CDU
Angela Merkel, has spent almost all of her life in Communist Germany, and was a
high ranking figure with the former Communist SED (Soyialistische
Einheitspartei Deutschland) and had unrestricted access for former head of
state of the German Democratic Republic, Erich Honnecker. She was born in
West Germany and her parents moved to East Germany when she was four years old.
No sane person would have ever done this - leaving a paradise of economic
growth and welfare for a hell on earth in a Communist country unless he was a
Communist himself. Something is terribly wrong here, but there is nothing left
that can be done without press exposure.
Note 4
God's Attempts to save France
1689 - To St
Margaret Mary Alacoque the Sacred Heart requested that the King of France
consecrate the nation to His Sacred Heart (100 years exactly before the French
Revolution of 1789).
1789 French
Revolution
1826 Louis XVI consecrated
France to Sacred Heart
1830-07-06 Our Lady
of the Miraculous Medal, Rue du Bac, France
1840 Our Lady
apparition to give Green Scapular to Sr Justin in Paris
1846
Apparition of Our Lady and Our Lord to another holy nun in Paris for
the Red Passion Scapular
1846 Our Lady of
LaSallette, France
1858 Our Lady of Lourdes, France
1871 Our Lady of Pontmain, France
1876 Our Lady of Pellevoisin, France-Sacred Heart
Scapular
1909 Our Lady of the Woodlands in Le Pailly,
France http://198.62.75.1/www1/apparitions/http:/pr00010.htm
1947-12-08 L'Ile
Bouchard, France
Since 1947, no more approved apparitions of Our Lady to France. France now no
longer has the Faith. And has no excuse.
Note 5
Russian President
PUTIN flew to Berlin on September 8, 2005 bearing a multimillion-dollar gas
pipeline deal intended to promote his Socialist friend Gerhard Schröder, the
German Chancellor, in hopes to save his election changes on September 18,2005,
and this is only the latest in a string of international interventions to save
his re-election.
Rarely have world
leaders been so open in their sympathies: this election is pitting Old Europe
against New Europe, the free-market Atlanticism of Angela Merkel, the
conservative contender, against the Chancellor’s anti-US posturing.
Socialists
President Chirac of France, Recep Tayyip Erdogan, the Turkish Prime Minister,
and José Socrates, the Socialist Prime Minister of Portugal, are all in the
Schröder camp.
But President Bush
and Chancellor Wolfgang Schüssel, of Austria, can barely conceal their
impatience for change. The Poles and Lithuanians also back Frau Merkel.