Are Banksters & the Fed Becoming the Fourth Branch of Our Government?By Richard Clark (about the author) Permalink (Page 1 of 3 pages)OpEdNews Op Eds 12/1/2012 at 10:12:29 |
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Despite its pathetic propaganda encouraging us to practice doublethink, the Federal Reserve freely admits that it is privately owned, is a monopoly empowered by Congress, and that it operates independently from -- above? -- Congress and the president. Yet it pays its private undisclosed shareholders/owners huge rewards . . that it extracts from U.S. taxpayers!
Who receives dividends from owning shares of the private Federal Reserve? Charts created by the House Banking Committee Staff Report of August, 1976 reveal the following people and companies own shares in the Federal Reserve: Rothchilds, J.P. Morgan, the Warburgs banks, Kuhn, Loeb & Company, Jacob Schiff, William Rockefeller, David Rockefeller/Chase Bank, and many others.
A more recent study found that Bank of America, JP Morgan Chase, Citigroup, Wells Fargo and HSBC now have the power of the Federal Reserve at their fingertips. They have open access to something called theDiscountWindow at the Fed, where they can easily obtain very low interest loans.
After years of making bad loans with artificially low interest rates, and foreclosing on millions of American homes, the Fed bailed out the following banks with at least $16.9 trillionaccording to page 131 of the first GAO audit:
Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom) : $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK) : $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
. . and many more, including banks in Belgium of all places.
Other economists estimate that bankster theft and the financial gangbanging of dollar holders since 2008 amounts to a $29 trillion loss (for dollar holders).
That's right, the largest banks, many of which appear to own shares in the private Federal Reserve, bailed themselves out by an amount that is in excess of the U.S. 2010 GDP ($14.59 Trillion, which is the value of all goods and services produced in the U.S. for the year). Even America's national debt of $15.7 trillion dollars could have been paid-off for less than what the banksters stole.
By 2008, the housing market's collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.
While the bankers may wear suits and appear respectable, they are actually looking to use your deposits to make themselves ten times wealthier while at the same time enslaving you in the debt that they create out of nothing whenever you become a borrower.
It works like this:
As an aspiring bankster, I set up a bank, and invest $1,000 of my own cash. Then I 'lend out' $10,000 to someone, either for consumer spending or to invest in his business. How can I 'lend out' far more than I have? Ahh, that's the magic of the 'fraction' in the "fractional reserve': I simply open up a checking account for Mr. Jones on my bank's computer and I type in the amount of $10,000, into Mr. Jones' account, which I am then happy to "lend' to him, since I just created the money out of thin air as I typed it into his account. Why does Jones borrow from me? Well, for one thing, I can charge a lower rate of interest than savers would if those savers actually lent Mr. Jones the money they had just earned and saved. I don't have to save up the money myself, but can simply (almost like counterfeiting) create it out of thin air. Since demand deposits at the modern bank function as equivalent to cash, the nation's money supply has just, by magic (as with counterfeiting) increased by $10,000. This inflationary, quasi-counterfeiting process is under way, at full speed, at every bank in the nation. No wonder a dollar buys ever less (of most goods & services) with each passing decade.
However, while the money you borrow from a bank is created out of nothing, you must actually produce real goods and services, to earn real money, to use to pay back the bank, plus interest. In short, they loan you what amounts to counterfeit money, and you pay them back with real money. What a great racket -- for them. That's how banksters become phenomenally wealthy (at our expense). Of course, the largest banks, which most likely own shares of the Fed as discussed earlier, make the most money from this racket. And it amounts to hundreds of billions of dollars every year -- transferred, by this racket, from we the people, to them.
When banksters create money faster than the economy grows, the purchasing power of the dollar naturally declines, which is known as inflation. No wonder that each year Americans work harder, for less money (reduced purchasing power), than the year before. It's all thanks to the Fed's clever racket and the criminally inflationary bankster policies that are behind this racket.
How could we force the Federal Reserve banksters to compensate us for the recession they played a big role in causing?
As people like Ellen Brown, Dennis Kucinich, Ron Paul and Bill Still have been telling us (here, here, here, and here, respectively) for quite some time, we must get Congress to take over the Fed and merge it with the Treasury Department. (A very tall order, I know, but there is no other solution except for, perhaps, the financial transaction tax described below, which would probably be equally difficult to implement.)
How else might we force the banksters, Wall Streeters, et.al. to pay us back the money they've stolen from us?
Answer: By levying a transactions tax on every stock trade, derivatives trade, currency trade etc.
Some would suggest that perhaps it's time to call the banksters and tell them we are taking our money back one way or another. "Hey banksters we're going to send in the Marines to collect it."
Of course this is a joke, because people in league with the banksters and the Fed have much more control over what the US Marines do than do the common people of the USA.
As Major General Smedley Butler wrote:
"I spent 33 years and four months in active military service and during that period I spent most of my time as a high class muscle man for Big Business, for Wall Street and the bankers. In short, I was a racketeer, a gangster for capitalism. I helped make Mexico and especially Tampico safe for American oil interests in 1914. I helped make Haiti and Cuba a decent place for the National City Bank boys to collect revenues in. I helped in the raping of half a dozen Central American republics for the benefit of Wall Street. I helped purify Nicaragua for the International Banking House of Brown Brothers in 1902-1912. I brought light to the Dominican Republic for the American sugar interests in 1916. I helped make Honduras right for the American fruit companies in 1903. In China in 1927 I helped see to it that Standard Oil went on its way unmolested. Looking back on it, I might have given Al Capone a few hints. The best he could do was to operate his racket in three districts. I operated on three continents."
Goldman Sachs takeover and domination -- a global coup d'etat?
Recently the Bank of England named former Goldman Sachs investment banker Mark Carney as its new chief, thereby adding to the long list of former Goldman Sachs bankers who've seized positions of immense power all around Europe and the rest of the world. As Europe descends into an austerity-induced (and therefore manufactured) economic crisis, Goldman Sachs is hereby making sure it gets all of its failed investments back. As the British newspaper The Independent reported earlier this year, the bankster-technocrats steering fiscal policy in Greece, Germany, Italy, Belgium, France, and now the UK, all hail from Goldman Sachs.
In fact, the head of the European Central Bank itself, Mario Draghi, was the former managing director of Goldman Sachs. It's widely known that Goldman Sachs made the euro problem worse when it helped Greece hide its debt back in 2002. As the DailyKos described the scheme Goldman is playing, "The normal scenario usually involves helping a nation hide a problem and sell its debt until the problem blows up into a bubble that bursts in a spectacular way. Goldman Sachs then puts their 'man' into a position of power to direct the bailouts so that Goldman gets all its money back and more, while the nation's economy gets gutted simultaneously so as to get Goldman its money."
The same thing has happened in the United States, as the last two Treasury Secretaries came from Goldman Sachs, and Goldman made out like a bandit in the 2008 Wall Street bailouts. Plain and simple, when a bank the size of Goldman (G-S) can run the world, as America's fourth and most powerful branch of government, American democracy is dying if not already dead.
If all of the top officers of G-S were simultaneously executed or killed by a terrorist organization, G-S *might* reform, out of fear. Otherwise, with no accountability of any kind, and with the top Capos expecting the public worship them instead of knee-capping them, G-S will continue to suck the life blood out of the global economy until there's nothing left. Instead, Goldman's assets should simply be seized as the loot taken by a criminal enterprise, and the top officers arrested and held without bail under the National Defense Authorization Act (NDAA), as terrorists.
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