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  #151  
Old 07-11-2013, 02:45 PM
Danny B Danny B is online now
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Capital flight

Manufacturing is the primary value-added industry. After WW II, America had a lock on manufacturing. Capital usually moves to where it can grow the fastest. Capital pushes production to cheap labor markets. In general, capital flees high-labor markets.
In the late 60s, foreign manufacturers started taking manufacturing away from America. We should have reduced our standard of living to reflect our loss in income. Instead, we used our future wages to maintain our standard of living.
Just the same, capital has fled.
How capitalism's great relocation pauperised America's 'middle class' | Richard Wolff | Comment is free | guardian.co.uk
Various States have printed currency to maintain theri standard of living. Currency isn't wealth so, this is only temporary. There will be an eventual default.
Wolfgang Schauble of the Bundesbank has clearly said that the European Central Bank can NOT solve the Euro crisis. The Bank of International Settlements has come out and clearly said that the Central Bankers can NOT solve the sovereign debt crisis.
Unlimites credit to failing States is NOT working because the interest burden just gets worse. Austerity is not the answer because it kills the economy and there is no commerce to pay off the debt.

The answer is default and European countries have done this many times.
Some European countries are in the habit of going bankrupt – Telegraph Blogs
The Eurocrats beleive that they can change the very basic nature of the people in the southern countries. History says that no currency union has ever worked.
The Europeans have had enough of this crap and say that all of their leaders are crooks.
http://www.nytimes.com/2013/07/10/bu...nts.html?_r=3&

Since the West has plenty of currency but, declining wealth, thye print curecny to bail each other out.
Activist Post: 41 IMF Bailouts And Counting – How Long Before The Entire System Collapses?
This isn't going to end well in the short term.
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  #152  
Old 07-13-2013, 11:10 PM
Danny B Danny B is online now
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Europe and why it matters

I found a good article on the Euro debt crisis for those who aren't completely familiar with the details.
Gonzalo Lira: A Beginner’s Guide to the European Debt Crisis
The article mentions the exposure that America banks have to European debt.

I also found an excellent article on the Greek debt crisis explaining that the IMF SEVERELY miscalculated on the effects of austerity. It is a very sobering paper .
Leaked IMF Report Shows Dangers for US Economy | Daniel Amerman CFA | FINANCIAL SENSE
Actually, "terrifying" is more accurate than sobering.

I claim to be a neo-luddite because of the advances in automation. Here is a very good paper that explores that idea.
charles hugh smith-Weblog and Essays
This is a repost of an article on the great relocation.
How capitalism's great relocation pauperised America's 'middle class' | Richard Wolff | Comment is free | guardian.co.uk

Should you be considering the stock market, here is an antidote for the stock markey Koolaide. "Today, the S&P 500 is sitting a full 30% above its200-weekly moving average. We have NEVER been this overextended above this line at any point in the last 20 years."
Bernank's Bluff and the Coming Crash | Zero Hedge
Debt is now 3 times larger than the GDP.
The debt reckoning has arrived: Total debt owed now approaches $60 trillion while Fed wrestles with interest rate confidence game.
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  #153  
Old 07-14-2013, 03:21 AM
Danny B Danny B is online now
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Jim Willie, again

This is the latest public version of the Golden Jackass news letter. The investors letter runs MUCH longer. If you don't have a long background in reading this stuff, much will remain cryptic. I'll illustrate just one detail.
"The flow of funds from the energy pipelines to China is being paid in the form of USTBonds to Russia. From there, the funds flow to London banks as part of the Rosneft buyout of the British Petroleum stake in Russian energy firms. Think return of USTBonds to sender, stuffing them down their throats. "

This means that U.S. Treasury bonds will be redeemed, NOT rolled over. Russia will use the proceeds to buy complete control of Russian energy companies ,,, away from BP. In turn, BP won't be able to access energy supplies.
The FED will be required to cough up interest AND principle. Our debt is already 3 TIMES our GDP. This problem is exacerbated by the fact that about $ 12.4 trillion is missing.
Missing Money
NOT to worry. GOV already has plans to steal all retirement funds.

http://www.24hgold.com/english/news-...Willie+CB&mk=1
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  #154  
Old 07-14-2013, 06:24 PM
Danny B Danny B is online now
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destrot democracy

Once again, it is time to fall back fom the trees to see the forest. I'm going to repost some arlier comments to get them more in context.
England and Germany were the first to seriously embrace the industrial revolution. In a sense, this pitted London Bankers against Frankfurt bankers. Here si the repost;
"Once again, Germany's industrial output became a threat to Great Britain.

"Should Germany merchandise (do business) again in the next 50 years we have led this war (WW1) in vain." - Winston Churchill in The Times (1919)

"We will force this war upon Hitler, if he wants it or not." - Winston Churchill (1936 broadcast)

"Germany becomes too powerful. We have to crush it." - Winston Churchill (November 1936 speaking to US - General Robert E. Wood)

"This war is an English war and its goal is the destruction of Germany." - Winston Churchill (- Autumn 1939 broadcast)

""The war wasn't only about abolishing fascism, but to conquer sales markets. We could have, if we had intended so, prevented this war from breaking out without doing one shot, but we didn't want to."- Winston Churchill to Truman (Fultun, USA March 1946)

"Germany's unforgivable crime before WW2 was its attempt to loosen its economy out of the world trade system and to build up an independent exchange system from which the world-finance couldn't profit anymore. ...We butchered the wrong pig." -Winston Churchill (The Second World War - Bern, 1960) "

OK, so England destroyed it's competition with the help of it's satrap, America. BUT, Churchill said "we slaughtered the wrong pig". Since this was a banker's war, why did the bankers choose to destroy democratic Germany and help communist Russia? The answer is simple. The bankers have always chosen Communism over democracy.
Democracy must go hand-in-hand with capitalism and freedom. You can't remove any element and have the other two. With democracy, the power is too dilute and spread around. The control that the bankers desire is unobtainable.
Pure free market capitalism is a meritocracy. The whole peloton of bankers worldwide has very little value and a meritocracy would quickly show that. Bankers continually push for communism and the necessary command economy even though it is eventually a proven failure.

Germany was slaughtered to advance communism. The whole EU project was an effort to create the "E.U.S.S.R. Brussels is the head of a command economy that heavily promotes Socialism. Brussels wants to create a EU military. Nobody is going to attack the EU so, this military would be used on the home front.
ONLY COMMUNISM requires a military for domestic control.
In 1948, Costa Rica abolished it's military. The country is flourishing. Look at the state of affairs in North Korea.
A free-market deomcracy has no need of control besides a small police force. When the U.S.S.R. collapsed, WHO invaded?
Should America abolish the military, who could we expect to invade? Couldn't happen. The bankers have a plan for world communism and America stands in the way.
Marxism in America - Lt. Gen. Ret. W. G. Jerry Boykin Video - YouTube

America must be broken financially to move it out of the way. Endless wars are bankrupting America and making the bankers quite rich.
004 - Video - Bank Control the Conflicts by the Debt Wars Create - YouTube
America must be slapped down quite heavily to show that capitalism just doesn't work. The London bankers are at the center of all this.
Second post on them.
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  #155  
Old 07-14-2013, 06:29 PM
Danny B Danny B is online now
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London

Here is one vid from a playlist on the evil effects of the london bankers.
World Economic super power - YouTube
Here is a vid from Godfrey Bloom talking about the horrible effects the banking industry has on the general economy.
Godfrey Bloom: Like vampires sucking the lifeblood out of the economy - YouTube

The London Bankers;
The City's money changers in London never relinquished any world control to America, in my opinion. The international bankers, who own The City, saw the world outgrowing Britain's ability to supply ships and troops and 'trading companies' to keep and govern those portions of the globe they had claimed with the British flag. So they cast about for additional resources and useful muscle to help them grow their wealth.

That would be the U.S.

The outcome of the revolution cancelled the first set of treaties and bets on the colonization of the U.S.

The Brits tried again in 1812. Draw except for Jackson's lopsided victory in New Orleans. (Cease fire already had been signed when that battle was fought.)

So they returned with a Trojan horse-their money and central banks-two of which were kicked out by America's elected leaders; Andrew Jackson being the last. A British born assassin's pistols misfired when he attempted to shoot Jackson one night in his office.

Five American presidents were ultimately assassinated enroute to-and after- the establishment/defense of their third central bank in America; which was brought into being with Woodrow Wilson's signature on the Federal Reserve Act in 1913 (that authorized The Fed) in exchange for the bankers financing his successful campaign for the presidency.

The Federal Reserve Act was passed that Christmas after most of congress left for the holidays.

Politically, this money has controlled the U.S. and its economy since.

When Hitler got underway in Europe prior to WW II, parts of the British hierarchy were concerned Britain could not withstand a German onslaught at the onset. Churchill told them not to worry; that the Americans were coming into the war. This had to have been communicated to him by The City; who were financing both sides in this war and were in a position to know and make it happen, in my opinion.

Coincidentally, America's factories at the time (Ford, Chrysler, et al) were already tooled up for war material; which they were selling to nations going to-or preparing for-war.

When the Japanese bombed Pearl Harbor, the country's industry kicked in with war production; which eventually overwhelmed and was instrumental in the defeat of the Axis. That and America's blood.

Controlling America's money, economy, and banks, The City's bankers continue to use America's war machine for selected 'enforcement' around the globe. International corporations have become dominant global machines; overwhelming many governments and nation's laws in the process.

America did not create the economic tar pit the globe is in or the 'wars' subsequent to 9/11. The money changers who own the 'mysterious' Bank of International settlements located in Basel, Switzerland did. It, The City, the Vatican, and the 10 square miles or so that encompasses Washington D.C. all fly the same flag, have their own police force, constitution (Lex fori), laws, and are answerable to no nation.

The City's bankers have also quietly established 150 central banks in other strategic countries over the years, and control them similarly.

The City is where the world's power lies. At least today.

They will determine an exchange rate for local currencies (if they're not devalued completely), stock their central banks with their new currency; and continue stockpiling the world's gold, silver, and other precious metals in their vaults (which their central banks are frantically buying in an attempt to keep them out of the hands of the Russians, Chinese, and India who're on to their scheme).

They'll exchange old currency with the new in their central banks first (at a central bank rate), declare a bank holiday, then exchange the new currency with a nation's old currency; after which other banks and the masses will be given a deadline for conversion; after which their currency cannot be exchanged and will be declared worthless.

Pension, retirement, and other funds banked or in institutions will probably be converted electronically at a specified rate.

Or something along those lines.

Once the conversion is complete, everyone will live happily ever after.
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  #156  
Old 07-14-2013, 06:32 PM
Danny B Danny B is online now
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The CFR

The bankers are pushing for world communism on more than just one front.


The CFR (Council on Foreign Relations) is the real government of the united States
The Council on Foreign relations has approximately 4700 member. Annual dues $25,000, fully tax deductible. The CFR, which was initially dominated by J.P. Morgan and later by the Rockefellers, is the most powerful group in America today. It is even more powerful than the federal government, because almost all of the key positions in government are held by its members. In other words, it is the United States government. It is the the brain trust for implementing the Fabian plan in America it is important to know at this point that almost all of America's leadership has come from this small group. That includes our presidents and their advisers, cabinet members, ambassadors, board members of the Federal Reserve System, directors of the largest banks and investment houses, presidents of universities, and heads of metropolitan newspapers, news services, and TV networks.

It is not an exaggeration to describe this group as the hidden government of the United States. CFR members have never been shy about calling for the weakening of America as a necessary step toward the greater good of building world government. One of the CFR founders was John Foster Dulles, who later was appointed Secretary-of-State by CFR
member Dwight Eisenhower. In 1939, Dulles said: Some dilution or leveling off of the sovereignty system as it prevails in the world today must take place ... to the immediate
disadvantage of those nations which now possess the preponderance of power... . The establishment of a common money ... would deprive our government of exclusive control over a national money... . The United States must be prepared to make sacrifices afterward in setting up a world politico-economic order which would level off inequalities of economic opportunity with respect to nations.'

CFR member Zbigniew Brzezinski was the National Security Adviser to CFR member Jimmy Carter. In 1970, Brzezinski wrote: ... some international cooperation has already been achieved, but further progress will require greater American sacrifices. More intensive efforts to shape a new world monetary structure will have to be undertaken, with some consequent risk to the present relatively favorable American position.

At the Spring, 1983, Economic Summit in Williamsburg, Virginia, President Ronald Reagan declared: National economies need monetary coordination mechanisms,
and that is why an integrated world economy needs a common monetary standard... . But, no national currency will do-only a world currency will work. The CFR strategy for convergence of the world's monetary systems was spelled out by Harvard Professor Richard N. Cooper, a CFR member who had been the Under Secretary of State for
Economic Affairs in the Carter Administration: 'I suggest a radical alternative scheme for the next century: the creation of a common currency for all of the industrial democracies, with a common monetary policy and a joint Bank of Issue to determine that monetary policy'... . How can independent states accomplish that? They need to turn over the determination of monetary policy to a supranational body. [Emphasis in original]... It is highly doubtful whether the American public, to take just one example, could ever accept that countries with oppressive autocratic regimes should vote on the monetary policy that would affect monetary conditions in the United States... . For such a bold step to work at all, it presupposes a certain convergence of political values... .
Phrases such as, monetary coordination mechanisms, modern world economic order, convergence of political values, or new world order are not very specific. To the average person, they sound pleasant and harmless. Yet, to the insiders of the dub, they are code phrases which have a specific meaning: the termination of national sovereignty and the creation of world government. CFR member, Richard Gardner-another adviser to President Carter-explains the meaning of these phrases and also calls for the Fabian strategy of deception and gradualism. In short, the "house of world order" will have to be built from the bottom up... . An end run around national sovereignty, eroding it piece by piece will accomplish much more than the old-fashioned frontal assault. As for the programmed decline of the American economy, CFR member Samuel Huntington argues that, if higher education is considered to be desirable for the general population, "a program is then necessary to
lower the job expectations of those who receive a
college education." 1 CFR member Paul Volcker, former Chairman of the Federal Reserve, says: "The standard of living of the average American has to decline... . I don't think you can escape that." By 1993, Volcker had become the U.S. Chairman of the Trilat-eral Commission. The TLC was created by David Rockefeller to
coordinate the building of The New World Order in accordance
with the Gardner strategy: "An end run around national sover-eignty, eroding it piece by piece." The objective is to draw the
United States, Mexico, Canada, Japan, and Western Europe into
political and economic union. Under slogans such as free trade and
environmental protection, each nation is to surrender its sover-eignty "piece by piece" until a full-blown regional government emerges from the process. The new government will control each nation's working conditions, wages, and taxes. Once that has happened, it will be a relatively simple step to merge the regionals into global government. That is the reality behind the so-called trade treaties within the European Union (EU), the North American Free Trade Agreement (NAFTA), the Asia-Pacific Economic Coop-eration agreement (APEC), and the General Agreement on Tariffs and Trade (GATT). They have little to do with trade. In the Trilateral Commission's annual report for 1993, Volcker explains: Interdependence is driving our countries toward convergence in areas once considered fully within the domestic purview. Some of these areas involve government regulatory policy, such as environmental standards, the fair treatment of workers, and taxation.

THE NEED FOR CONVERGENCE
This sets the stage for understanding the next phase of the game which is unfolding as these words are being written. It is the inclusion of China and the former Soviet bloc into the Grand Design for global government. As with all the other countries in the world, the primary mechanism being used to accomplish this goal-at least in the field of economics-is the IMF /World Bank.' The process is: (1) the transfer of money from the industrialized nations-which drags them down economically to a suitable common denominator-and (2) the acquisition of effective control over the political leaders of the recipient countries as they become dependent upon the money stream. The thing that is new and which sets this stage apart from previous developments is that the apparent crumbling of Communism has created an acceptable rationale for the industrialized nations to now allow their lifeblood to flow into the veins of their former enemies. It also creates the
appearance of global, political "convergence," a condition which
CFR theoretician, Richard Cooper, said was necessary before Americans would accept having their own destinies determined by
governments other than their own.
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  #157  
Old 07-14-2013, 06:48 PM
Danny B Danny B is online now
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bankers and communism

Churchill was instrumental in rescuing Russia. Russia was then built into a huge bastion of communism. BUT, here is what Churchill had to say about socialism. "Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery."

One would suspect that the London bankers who financed the German military and Hitler hoped to make money from both sides until they were broke. Then, they would insure that Russia would eventually prevail and spread the good doctrine of communism. "Equal sharing of misery" pretty much describes life in Communist Russia.
Churchill and Eisenhower were fooled. They starved many millions of Germans after the armistace so, the bankers got what they wanted.

Democracy is socialism-lite. Socialism is communism-lite. Democracy has always failed because the populace always votes the whole treasury for themselves. So, democracy has the good effect of spreading out power and making it more difficult for a takeover. Democracy has the bad effect of breaking the treasury.
The antidite for this negative effect is education. Educated people are less likely to bankrupt a country.

You may have noticed that my spellcheck is not working. I leave you with this;


ere's another trick from Doctor Dementia to test your skills ...

I've seen this with the letters out of order, but this is the first time I've seen it with numbers. Good example of a Brain Study: If you can read this OUT LOUD, you have a strong mind. And better than that:

Alzheimer's is a long, long, way down the road before it ever gets anywhere near you.


7H15 M3554G3
53RV35 7O PR0V3
H0W 0UR M1ND5 C4N
D0 4M4Z1NG 7H1NG5!
1MPR3551V3 7H1NG5!
1N 7H3 B3G1NN1NG
17 WA5 H4RD BU7
N0W, 0N 7H15 LIN3
Y0UR M1ND 1S
R34D1NG 17
4U70M471C4LLY
W17H 0U7 3V3N
7H1NK1NG 4B0U7 17,
B3 PROUD! 0NLY
C3R741N P30PL3 C4N
R3AD 7H15.
PL3453 F0RW4RD 1F
U C4N R34D 7H15.

To my 'selected' strange-minded friends: If you can read the following paragraph, forward it on to your friends with 'yes' in the subject line. This is weird, but interesting!

If you can read this, you have a strange mind, too.

Can you read this? Only 55 people out of 100 can.

I cdnuolt blveiee that I cluod aulaclty uesdnatnrd what I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at CmabrigdeUinervtisy, it dseno't mtaetr in what oerdr the ltteres in a word are, the olny iproamtnt tihng is that the frsit and last ltteer be in the rghit pclae. The rset can be a taotl mses and you can still raed it whotuit a pboerlm. This is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the word as a wlohe. Azanmig huh? Yaeh and I awlyas tghuhot slpeling was ipmorantt!

If you can raed this frowrad it.
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  #158  
Old 07-14-2013, 07:59 PM
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MonsieurM MonsieurM is offline
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Quote:
Originally Posted by Danny B View Post


ere's another trick from Doctor Dementia to test your skills ...

I've seen this with the letters out of order, but this is the first time I've seen it with numbers. Good example of a Brain Study: If you can read this OUT LOUD, you have a strong mind. And better than that:

Alzheimer's is a long, long, way down the road before it ever gets anywhere near you.


7H15 M3554G3
53RV35 7O PR0V3
H0W 0UR M1ND5 C4N
D0 4M4Z1NG 7H1NG5!
1MPR3551V3 7H1NG5!
1N 7H3 B3G1NN1NG
17 WA5 H4RD BU7
N0W, 0N 7H15 LIN3
Y0UR M1ND 1S
R34D1NG 17
4U70M471C4LLY
W17H 0U7 3V3N
7H1NK1NG 4B0U7 17,
B3 PROUD! 0NLY
C3R741N P30PL3 C4N
R3AD 7H15.
PL3453 F0RW4RD 1F
U C4N R34D 7H15.

To my 'selected' strange-minded friends: If you can read the following paragraph, forward it on to your friends with 'yes' in the subject line. This is weird, but interesting!

If you can read this, you have a strange mind, too.

Can you read this? Only 55 people out of 100 can.

I cdnuolt blveiee that I cluod aulaclty uesdnatnrd what I was rdanieg. The phaonmneal pweor of the hmuan mnid, aoccdrnig to a rscheearch at CmabrigdeUinervtisy, it dseno't mtaetr in what oerdr the ltteres in a word are, the olny iproamtnt tihng is that the frsit and last ltteer be in the rghit pclae. The rset can be a taotl mses and you can still raed it whotuit a pboerlm. This is bcuseae the huamn mnid deos not raed ervey lteter by istlef, but the word as a wlohe. Azanmig huh? Yaeh and I awlyas tghuhot slpeling was ipmorantt!

If you can raed this frowrad it.
3XC3113N7


wanted to share with you the following article as it shows the subtle game of influence the Banking Cartel plays its cards :

Masonic African Leaders: The Eurocentric Pseudo-Military Orders Ruling Africa – Rasta Livewire



Quote:
You see in this world there's two kinds of people, my friend. Those with loaded guns, and those who dig. You dig.

The Good, the Bad and the Ugly - Wikiquote
or so they believe .....
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Signs and symbols rule the world, not words nor laws.” -Confucius.

Last edited by MonsieurM; 07-14-2013 at 08:08 PM.
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  #159  
Old 07-15-2013, 02:50 AM
Danny B Danny B is online now
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manipulation

MonsieurM, there are just not enough hours in the day to try to follow all the groups that are fighting for power. Have you read Juri Lina?
http://zioncrimefactory.com/wp-conte...e-Scorpion.pdf
In a general sense, the smart people are trying to live well at the expense of the stupid people.
The Story of Your Enslavement - YouTube
It isn't so much that they are smart. They are smart and ruthless. Not being ruthless, we are at a disadvantage. Bill Still has written quite a biy about this.
The Secret of Oz - Winner, Best Docu of 2010 v.1.09.11 - YouTube
The answer is education to avoid manipulation.
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  #160  
Old 07-15-2013, 04:20 PM
aljhoa aljhoa is offline
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CONCLUSION

No Congress, no President has been strong enough to stand up to the foreign-controlled Federal Reserve Bank. Yet there is a catch - one that President Kennedy recognized before he was slain - the original deal in 1913 creating the Federal Reserve Bank had a simple backout clause.
The investors loaned the United States Government $1 billion. And the backout clause allows the United States to buy out the system for that $1 billion.
If the Federal Reserve Bank were demolished and the Congress of the United States took control of the currency, as required in the Constitution, the National Debt would virtually end overnight, and the need for more taxes and even the income tax, itself.
Thomas Jefferson was concise in his early warning to the American nation, "If the American people ever allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the people of all their property until their children will wake up homeless on the continent their fathers conquered."

The Federal Reserve Bunk


H.R. 7837
P4g3 xxiiix, 53c. xxx. 7h3 r1gh7 70 4m3nd, 41t3r, 0r r3p341 7h15 4c7 15 h3r3by 3xpr3551y r353rv3d.
4ppr0v3d, D3c3mb3r 23, 1913.


http://www.llsdc.org/attachments/fil...LH-PL63-43.pdf


Al
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  #161  
Old 07-18-2013, 02:27 AM
Danny B Danny B is online now
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JFK and the bankers

JFK used America's silver bullion to back United States notes. He printed about $ 4 billion worth. This was done with executive order 11110.
Running 'Cause I Can't Fly: "JFK's Executive Order 11100 Abolishing the Federal Reserve"
7 days before he was assassinated, he promised to expose the plot to enslave all of us.
http://24.media.tumblr.com/tumblr_lv...sxxvo1_500.jpg
JFK also wanted to abolish the C.I.A.
The Existentialist Cowboy: Three Reasons JFK was Murdered

There was a long list of reasons to kill JFK. it seems that everone was in on it.
Connelly's Nephew Confirmed that JFK was Shot by Secret Service Agent Driving the Limo (Jan. 26, 2009)

The rest is history. LBJ stopped the printing 11 days after the assassination. Then the 4 billion ounces of silver was sold off to make sure that nobody else got any bright ideas. Dumping this silver depressed the market for decades. It finally ran out Oct. of 2005. This 4 billion ounces covered the shortfalls in production for many years. We use much more silver than we mine.
http://goldsilverworlds.com/wp-conte...99till2011.png

JFK wanted to get rid of the FED. The FED made FAR too much money to go off quietly. It was a giant cash-cow for the bankers. Compounding interest is the chains and manacles that hold us all. Here isa good exampe from Canada.
Canadian Banking System Exposed - Bill Abram - YouTube
The bankers have proved previously that they are more than willing to completely crash the economy to stay in power.
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Old 07-18-2013, 04:25 AM
Danny B Danny B is online now
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Financing bankers

America got hit by a hurricane called low-wage competition. Mining, manufacturing and agriculture are the main value-added industries. Wages, of course, are not the only imput in the cost of goods. Here is a graph showing the relative wages.
http://4.bp.blogspot.com/-s1O_FRvzhl...s400/china.jpg
Americans are more productive than the Chinese so that equals things out a bit. It turns out that America has an even bigger problem. 50% of the cost of everything that you buy is for interest. That is 87% for public housing and 19% for trash collection. The average of all upstream and downstream cost is 50%
With bankers and investors gobbling up half of everything, is it any wonder that America is not competitive in many sectors?

Proff. Kotlikoff says that our total unfunded debt exposure is $ 212 trillion. Much of this is for future liabilities and is not a current liability. Just like Canada, a huge part of this is for interest.

Back to Chinese wages. Bernanke said that he would print currency until unemployment dropped to 6.5%. He left it at that. Currency wars are fought with wages. When Bernanke prints, the "extra" money is NOT going to flow into wages. It will flow into stocks, bonds, and commodities.. The inflationary money is said to "lift all boats". It doesn't lift wages in the face of global-wage arbitration.
Seen from ground level, lifting all the other boats is nothing but a wage cut. A wage cut makes our products cheaper. Bernanke will cut our wages until we work cheap enough to compete with the Chinese. The biggest cost sector is INTEREST, NOT wages.
To make a long story short, printers worldwide are cutting wages to preserve market-share in manufacturing. Our leaders are driving down wages to compete. The currency wars are a race to the bottom.
it is one HUGE race to see who is the suuppidist.

America has cut wages (inflated prices) so much that it has killed off the consumer economy that had previously accounted for about 70% of the total economy. People cut back to only buying essentials. Discretionary spending stops for a big number of people. This shrinks the economy even more. Nobody has consumptive power.

What about China? China now has 64 million empty residential units. It is an unavoidable fact; the common man must be able to afford a common house. China is in the process of building 60 international airports that it doesn't need. China moved 300 million self-sufficeint peasants off the land and into the cities. They keep building to keep the peasants employed.
There is a huge gap between their productive power and their consumptive power.

Many millions of jobs have been outsourced here and it has diminished income to GOV from taxes. The solution is simple, raise taxes.
U.S. Politicians to American Companies: Either Move Out or Go Bankrupt! | Economy In Crisis
Many studies over the years have proved clearly that taxes reduce the economy. The figure given is $ 2.50 to $ 3.00 reduction for every additional 1$ of taxes.

As GOV prints, wages go down. As GOV borrows, the debt slows the economy down. Inflation is now about 9.8% (Shadowstats). reportedly, The U.S. dollar has lost 97% of it's value since the FED took over. That is the accumulation of wage cuts over the years.
Where did this inflation come from? The Grace Commission under Ronald Reagan reported that not one penny of tax went to GOV. ALL of it went to the FED. The FED is controlled, for the most part by London bankers. GOV had to get by just from printing new money. OK, GOV inflated to pay the bills. The FED taxed to pay the bills.
BUT, taxes are falling greatly.

Enter Obamacare. It is enforced by the IRS. The IRS is the enforcement arm
of the London bankers. (FED). As the economy slowed down, the bankers went into overdrive with the printing presses to make up the difference. This graph shows printing accelerating during our current depression.
http://www.whatamimissinghere.com/wp...pply-Graph.jpg

The bankers push global warming,,, AKA cap-and-trade. That isn't working out too well. They are pushing obummercare but, it is DOA because of too many problems that doom it from the start. There is already a plan in the works to have all the pension funds buy all the GOV bonds. It worked fine in Argentina.

The London bankers have put our presses into hyperdrive to try to maintain empire. One way or another, they are going to squeeze every farthing out of us. They are a bit nervous about all the guns we have. There are about 300 million weapons, 21.5 million veterans and about 40 million well -armed hunters.
If you plan to chop at the root of evil, start at Threadneedle street.
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Old 07-19-2013, 02:53 AM
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All the money,, all the time

Job number one for the bankers is to convert their funny-money into tangible assets. You sign for a loan of $ 100,000. Here is what you get;

"For example, a $100,000 loan with a 6 percent interest rate carries a monthly mortgage payment of $599. During the first year of mortgage payments, roughly $500 each month goes to paying off the interest; only $99 chips away at the principal. Not until year 18 does the principal payment exceed the interest.

. The downside of spreading the payments over 30 years is that you end up paying $215,838 for that original $100,000 loan."

So, the bank gets a pretty good chunk of return for money that they never invested. In the best-case scenarion ( for the banker), you default after paying many thousands of $ interest,,, the bank takes the house, and sells it again. Logic and arithmetic tells you that a bank makes out best if you default. They take posession. Bankers are logical. How to speed up the default process??

Bankers have always force-fed credit to people in a periodic fashion. In the run-up to the housing crash, ANYBODY could get a loan. The end result was that a LOT of extra houses got built. It was obvious that competition from the BRICs would crash American wages. The houses had to be built before the crash commenced. Greenspan accomodated.

When the bankers deemed it the best time, they shut off credit,,, at the same time that wages crashed. The planned default came en masse,,, right on schedule.
Their balance sheets took quite a hit so they forced congress to cough up $ 700 billion of TARP money. Rather than repairing their balance sheets, they used the money to buy other banks. Default was the name-of-the -game. The new problem was that there were far too many houses and the value was due to drop a LOT. No problem,,, they just sold the houses to GOV at $ 100% of claimed value.

This pump-and-dump scheme has gone on for many decades. It is done in RE, stocks and commodities. The banks distribute phantom money and reap real rewards. This isn't just for you and me. They do the same for GOV.
The banks loan tons of money to GOV,,, as much as possible. GOV eventually defaults. The banks privatize national assets. Eventually, GOV taxes the snot out of workers to buy back what the taxpayers had already paid for before.
Wash, rinse, repeat.

The banks collect compounding interest on money that they never had. The compounding interest burden quickly makes the interest amount greater than the original principle.
One big "secret" is; how do banks get away with loaning money that they don't have? If the banks loan you money to build a house, THEY cut the checks for the contractors. BUT, the contractor and the building material supplier LEAVE the money in the bank. The make-believe money never leaves the bank.

When FDR outlawed the hoarding of gold, he also outlawed the hoarding of cash. Our system depends on money forever circulating, while at the same time, never exiting the banking system.

The banks want to insure that your cash is where they can get it. If you have cash, it is obviously the proceeds of criminal activity.
Highway Robbery: Tennessee Police Are Seizing Cash From Out-of-State Visitors In Policy Called “Policing For Profit” | JONATHAN TURLEY
The cops have teamed up with the tax authotities.
http://www.news.com.au/national-news...-1226494946675
If it isn't drug money, then obviously it is money for terrorists.
Israelis, in Raid on Arab Banks, Seize Reputed Terrorist Funds - NYTimes.com

The police are constsntly raiding private vaults and claiming that all the stash is drug money. The end result is that people are afraid to keep money outside the banking system.

Just to make sure that you don't make an inconvenient withdrawal, your bank deposit is a LOAN to the bank. They can make you wait for a few days to make a withdrawal. Just to make sure that you aren't wasting any of "your" money, the banks sweep ALL acounts and take the money to invest,,, every night.
Sweep Account Definition | Investopedia
Keeping cash at home is their worst nightmare,,, so do it.
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Old 07-19-2013, 03:15 AM
Danny B Danny B is online now
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poverty statistics

This is a collection of links to poverty statistics. Hopefully, this will induce you to not spend money that you do not have. As the economy unwinds, you never know who will be the next to lose a job. One thought to keep in mind; America is sliding towards a VERY low global wage. The bankers are trying to keep our previous price structure even though our wage structure is crashing.

Globalism and the standard of living
Prison Planet.com » Global Economy? 23 Facts Which Prove That Globalism Is Pushing The Standard Of Living Of The Middle Class Down To Third World Levels

2 year old statistics;
Prison Planet.com » 15 Statistics Which Prove That The U.S. Economy Is In Much Worse Shape Than Most Americans Think

1 year old statistics;
Prison Planet.com » Thanks Obama – Here Are 24 Stats That Show How Much You Have Royally Messed Up Our Economy

Today's statistics;
Prison Planet.com » 40 Stats That Prove The U.S. Economy Has Already Been Collapsing Over The Past Decade

As Americans get poorer, the banks get poorer. GOV prints money to make up the difference,,, for the banks. BUT, currency is NOT wealth.
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Old 07-19-2013, 02:55 PM
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China

Quoting myself;
" China moved 300 million self-sufficeint peasants off the land and into the cities. They keep building to keep the peasants employed.
There is a huge gap between their productive power and their consumptive power."
Everywhere you look, you see the economy faltering because people just don't have purchasing power. The PTB can starve us out but, they con't keep the economy going. The IMF has now come out and said (China); "in need of a dramatic round of restructuring to put more of the country’s wealth in the hands of families and private businesses."
China economy 'unsustainable': IMF | The Japan Times

This can be said for many countries. China's birth rate is 35% below replacement. Many Western countries have a shrinking population. When they rob us blind, we refuse to have children. America has terrible poverty statistics for families with children.
The IMF is responsible for economic rape of dozens of countries. Apparently, the have come to the conclusion that consumer poverty and a demographic crash will destroy the fractional-reserve banking system.
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Old 07-20-2013, 01:27 AM
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Nothing but debt.

Most people never think about the fact that all our money currently is debt instruments. I give you a $ 5 bill. It is just a debt receipt. A treasury bond is a debt instrument drawn against American productivity. All our paper wealth is just debt receipts. One of the claimed attributes of "money" is that it must have intrinsic value. EVERY fiat paper currency in history has collapsed because it lacked this attribute.

The U.S. dollar was redeemable many years ago. The Bankers weaned us off this convertability over the decades. In 1964, the silver was removed from coins becasue "the price of silver had gone too high." The never mentioned that the value of the dollar had gone too low.
The bankers demanded an elastic currency so that they could live the good life and expand the anglo-AMERCAN empire. Britain was successful at getting it's colonies to pay for themselves. America didn't manage this and the empire cost us a LOT.

The bankers took our currency that was a store of value and replaced it with a currency that just denoted debt. This generally works for a short time,,, historically. Generally 30--40 years. The U.S. dollar is 42 years old as an unbacked currency.

Everything that is circulating is debt, NOT wealth. This eventually causes great distortion. NO debt is ever extinguished,,,, it's just paid off with more debt. ALL this debt carries an interest load. By rolling over the debt, the interest grows enormously. GOV prints to cover interest, principle, defaults,,, everything. How much does GOV print to cover this?

"Bank of Japan and Federal Reserve are printing
out of thin air approximately, $59,737 dollars per second,
$3.584 million per minute, $215.053 million per hour,
$5,161.290 million ($5.161 billion) per day & 160,000
million ($160 billion) per month & 2 million million dollars
($2 Trillion) over the next year"
http://www.tedbits.com/mailchimp_tem...Newsletter.pdf
This is only the FED and BOJ. The debt pile grows by the minute.

What is the effect of all this added debt ( includes intererst)? The debt actually has a negative effect eventually. "Negative marginal utility of debt"
" Eventually, the madness of trying to "borrow our way to prosperity" because inescapable. The additional debt produces zero gain in GDP, and even goes to negative. That's where we are now."
http://www.oftwominds.com/photos2011...saturation.jpg

It is considered very risky to set a date for collapse. Jim Sinclair has a page where he agrees with the European group GEAB. They have set a timetable for collapse.
"-end 2013, financial impact: collapse of financial markets especially in the US and Japan. Banks can no longer be saved by the states and BAIL-Ins are put in place;

-end 2013 / 2014 spreading to the real economy: The financial impasse causes / reveals a major world recession and the reduction of international trade;

-2014, social impact: The economic deterioration causes unemployment to explode, in the United States the dollar’s decline lowers the standard of living, riots mushroom everywhere;

-2014 political crisis: the governments of the most affected countries are under fire for their handling of the crisis, forced resignations and early elections are expected, if not coups;

-2014-2015, international management of the crisis: together Euroland and the BRICS impose a new international monetary system and lay down the basis of new global governance;

-2015: The least affected regions have exited the crisis definitively;

-2018: It will take the United States, the United Kingdom and Japan five years to purge themselves of the crisis with, ultimately, a greatly reduced standard of living and a considerable loss of global influence (resulting from their refusal to participate in the re-casting of global governance on new bases).”
2013 Crisis To Trump 2008 :: Jim Sinclair's Mineset

The GEAB group is socialist to the bone. The Eurozone was born as a socialist concept. GEAB puts a rosy slant on everything European. Time will tell if the timetable is correct.
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Old 07-20-2013, 01:38 AM
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The last post mentioned "extinguishing debt". With barter, all debt is extinguished. Barter is simply a trade of tangible objects. The tangible object most in demand in normal times is gold. Trade settled with debt instruments has never worked in the long run. Gold was the standard. Gold certificates are/were the next best thing.

Here are 4 posts fropm Hugo Salinas Price on the utility of gold for extinguishing debts.

The Daily Bell - Hugo Salinas Price on Gold and the Potential for '500 Years of Darkness'

The Daily Bell - Hugo Salinas Price on the Nature of Money and Why Silver Should Be Legal Mexican Currency

The Daily Bell - Copernicus, Galileo and Gold

The Daily Bell - Copernicus, Galileo and Gold - Part II

Sr. Price also talks about a solution;
The Daily Bell - How to Get the US Economy Going Again

If you read the statistics on the economy, it is obvious that things are getting worse. While it would be charitable to try to save everybody, man isn't "wired" that way.
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Old 07-22-2013, 03:58 AM
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Empire, debts and the real economy

About 1965, American leaders launched the welfare-warfare state. They printed to pay for it. By 1971, gold was leaving the treasury at the rate of 100 tons a day. Nixon was forced to close gold-convertability in August '71. After gold was taken out of the system, the presses went into over drive. This chart shows the great devergence between GDP and debt.
http://www.golemxiv.co.uk/wp-content...-1971-2016.png

Gold enforces discipline and banks/GOV didn't want any discipline. GOV is over-printing on a massive scale but, we don't see much price inflation. This is because there are so many dollars in circulation. They don't get diluted near so fast. About 2/3 of paper dollars are held outside America. This also helps becasue they are not in the circulating money supply. Banks and GOV increased the money supply at 3 times the rate of increase in GDP. Since they were "first spender", They got the most benefit. We got reduced purchasing power.

This went on for decades until American employment crashed. Since the debt-load is ever-increasing, the printers had to compensate for the lack of income.
http://media.resourceinvestor.com/re...y-supply-2.PNG
One would expect price inflation to go hand-in-hand with monetary inflation. This isn't the case. The so-called money supply includes credit. The FED-created money supply went up and the bank-created money supply went down. This gave us a very confusing inflation picture,,,, temporarily.
http://static2.businessinsider.com/~...5437dc00253961

The 2007-8 meltdown was caused by too much debt in the system. There is curently EVEN MORE debt in the system.
"6) Debt crises happen because incomes can't support the servicing of the debt any longer. If there is any drop-off in economic growth, a 2008 re-run could well be around the corner. That's not trying to be dramatic; it's just the way the math pans out."

"BIS details the extent of the world's debt problem. It says total debt in large developed market and emerging market countries is now 20% higher as a percentage of GDP than in 2007. In total, the debt in these countries is US$33 trillion higher than back then."
The Markets' Worst Kept Secret | Zero Hedge

The U.S. economy is shrinking, NOT growing. Alternate Gross Domestic Product Chart
Our ability to service debt is shrinking as our debt grows. An extra $ 33 trillion will be hard to come up with.
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Old 07-23-2013, 02:27 AM
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Walter Burien,,, Gary North.

As all of you well know, some "trails" are very hard to follow. Following a trail of money that reaches GOV is very hard to follow. One of the most intruiging trails is the Comprehensive Annual Financial Report (CAFR) prepared by GOV agencies.
Walter Burien has been following and exposing this trail for over 10 years. He claims that California, for example, has 19,000 GOV agencies. All of these agencies have investment funds. His site is CAFR1 CAFR1 Home Page

Then, there is Gary North who claims that Burien is full of hot air. He claims that Walter hasn't shown a single document as proof.
Walter Buriens Story of California Governments $8 Trillion in Secret Slush Funds. Where Is the Evidence? It Is Not on His Site.
Gary ridicules the idea that there could possibly be 14,000 agencies of GOV in Ca. This claim is disingenuous at best and a blatant lie at worst.

While it is difficult to follow the money, there are indications;

"* When Orange County lost a little over $1 billion in derivatives investments, they were crying "poverty" and threatening to shut down schools, police would have to be laid off etc. However someone dug into the Orange County CAFR and found out that the county had about $16 billion in profitable investments! The county, from their profitable liquid investment funds / cash position could have continued performing the same services, without collecting one dime in taxes, and could have done so for another 11.9 years from the existing funds prior to running out of money! The crying stopped. "
CAFRs: The BIGGEST Secret - $60 Trillion Invested By Fed, State, And Local Governments!
EVERY GOV agency shows a reserve fund, sometimes VERY large.

When Wisconsin got into a VERY heated budget fight, I went to the State GOV site and clicked on the CAFR report.
'Document not found, contact your webmaster"

North demands a PDF as proof of the stash. I picked a state, Wisconsin and looked at their statement. On page 102 it stated total assets at ($ thousands)
2001 $ 536,263.......liabilities $ 191,305.............Total fund balance $ 345,658
http://www.doa.state.wi.us/debf/cafr/fy01/01wicomb.pdf
For Gary North to demand proof is more than suspicious. There are thousands of GOV agencies and funds that ALL publicize the proof,,, EVERY year. CALPERS is just one fund and is worth $ 262 billion.
Current Investment Fund Values

Burien has a new article about solving our current problems.
The Key To The Whole Picture
He also has vids. Introduction to the CAFR - Why You Can't Get Ahead - YouTube

Alex Jones has a CAFR vid Alex Jones CAFR MOVIE part 1 - YouTube

Looking at a parallel system, the top richest 120 colleges in America have a new wealth of (2009) $412 billion Endowment funds of the 120 colleges and universities with the largest endowments, by rank order: 2008 and 2009
Seems to me that the schools could lower their tuition. "Last year, Harvard made more than $7 billion of tax-free investment income." Harvard has about $ 40 billion.

Burien claims the same for GOV. GOV has no funding need to collect income taxes.
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Old 07-23-2013, 03:30 AM
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starvation to keep the bankers fat and happy

The legacy of the London bankers is with us even today. They get all upset when the natives (useless eaters), eat up all the profits. Way back in Ireland, all the cash crops were exported and the Irish had to subsist on potatoes. (simplified). When the potatoes had a problem, over a million Irish starved. This was while Ireland had very large food exports.
The exports were necessary so that the Irish could pay the rent.
Irish food exports during famine years 1845 - 1847

Another shining example of starving out the uselese eatrs occurred in India. The British held rotating famines and held the population to ;
"but the population of India remained at approximately 220 million for over a century prior to 1914."
Then and Now: British Imperial Policy Means Famine

Hoping for a renewal of these policies, the Banks are petitioning the FED to be allowed to speculate in commodities.
The Fed Reconsiders Letting Banks Trade Commodities - Ed Steer's Gold & Silver Daily
Since the banks can print free money and,,, it always stays in the banking system, they can buy up anything that they want.
" the federal regulator, subsequently used that estimate to calculate that speculation added about $10 per fill-up for the average American driver. Other experts have put the total, combined cost at $200 billion a year."
Playing in commodity markets, investment banks are mere parasites on the economy | Gold Anti-Trust Action Committee
Isn't that great !!!!

They are on the verge of buying up all the copper to put a stranglehold on that too.
The banks are impoverishing and killing a LOT of people but, not to worry,,,, they are making a LOT of profit.
How Goldman Sachs Created the Food Crisis - By Frederick Kaufman | Foreign Policy
They threw an extra 1/4 billion into poverty.

The natural progression of the industrial revolution causes most products to fall in price from increased efficiency. The purveyors of all these goods try to form monopolies to keep price deflation at bay. The ultimate monopoly is GOV. You can't seek out another supplier or a better price.
Any group with enough financial power can buy monopoly protection from GOV. GOV will sell anything for the right price.

All these monopolies raise their prices as the dollar falls. They lose parts of their customer base as purchasing power declines. Food will be the last to fail.

In our Keynesian economic system, the banks create the principle but, NOT the interest. The interest is extracted out of future growth. Should the future growth not occurr,, the interest is not produced. Very simple.
The European bankers in the guise of the FED are printing like crazy to pay themselvs the interest. It has been widely publicised that most of the "loans" from the FED were not payed back.
The FED has created somewhere around $ 26 trillion of new funny money. It is up to us to convert this funny money into real tangible assets. At the same time, WE must pay the interest on all this funny money. There are 8 families depending on us to slave away.
The Federal Reserve Cartel: Part I: The Eight Families | LEFT HOOK by Dean Henderson

ALL the paper money in existence is a giant debt that we are expected to "work off". Same for treasury bonds. The kids will have to pick up the tab.
http://thumbs.dreamstime.com/z/child...r-10942776.jpg
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Old 07-23-2013, 03:45 AM
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savings interest

Our current problem is that there are way too many banks. The search for profit for all them is quite a big job. They have to steal from everyone. They get free money from the FED plus they get free money from savers. It is calculated that if savers were given the normal interest on their savings accounts, they would have $ 10.8 trillion MORE.
" By aggregating the entire shaded orange area, SAVERS have missed out on a whopping 10.8 Trillion in earned interest usage. - See more at: http://theautomaticearth.com/Finance/what-ben-bernanke-is-really-saying.html#sthash.x7cBbBSy.dpuf"

Hey, it is GREAT to be a banker
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Old 07-25-2013, 02:52 PM
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Detroit bankruptcy

As most have heard, Detroit has declared bankruptcy. Walter Burien has this to say;
"If you take a look at why they say they are broke, what they are doing is extending the pension and other liabilities out 30-years as if a liability to be paid in full today. They funnel off much of their “annual” budgetary funds to meet 100% funding today and is why the buzz word of “in debt” and “pensions short”. ** They only project out their income 1-year and project liabilities out 30."
Government Wealth Disclosure over the years
The article also mentions that another CAFR researcher who was a federal auditor in his work career died shortly after publicising his research.
The per-capita debt in Detroit is less than the debt in a few other cities. Chicago debt is double that of Detroit.

There is a lot of publicity claiming that all the various public pension funds are going to be broke. Possibly, they are just hiding the funds to avoid payout.
The Tip Of The Iceberg Of The Coming Retirement Crisis That Will Shake America To The Core | Conscious Life News
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Old 07-25-2013, 07:31 PM
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Foreign banks

As all of you know, the FED is owned by european bankers. When things crashed, the European Central Bank could only do so much. And, they had to do it slowly,,, especially because of the German watch dogs. The european banks were desperate to save tons of dollar-denominated debt in Europe from defaulting. So, the owners of the FED just had the FED print up an extra $ trillion to smooth things out.
Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever | Zero Hedge

A FED economist mentioned this and was promptly fired. He didn't help his case at all when he mentioned that the FED had printed up $ 18 billion in the weeks prior to the twin towers incident in New York.
Fed Economist Fired for Investigating Suspicious 9-11 Cash Transfers; and Steve Keen Exposes Financial Fallacies | Zero Hedge
Everyone knows that the FED just happened to be operating "remote" when the 2 planes hit.
There are a "few" other inconsistencies too.
9-11 WTC Biggest Gold Heist in History: $300 Billion in Bars - YouTube
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Old 07-26-2013, 03:45 AM
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Delusion at Business Insider

There is an article at Business Insider that shows lots of graphs that PROVE that Amerca does not have too much debt. The charts show net worth in America at 5 times debt. "America Is Not Drowning In Debt: These 5 Charts Destroy The Biggest Myth About The US Economy
America Is Not Drowning In Debt - Business Insider
VERY STRANGE.
We all know that the wealth distribution is WAY out of wack. Huffington post reports it. Half Of American Households Hold 1 Percent Of Wealth
CNN Money reports it Wealthiest Americans have 288 times net worth of typical family - Sep. 11, 2012
Forbes reports it Average America vs the One Percent - Forbes

This makes you think about the nature of "money". A FED dollar and a treasury bond are debt instruments that are a claim on future goods and services. Those people holding the biggest mountains of debt-notes can only redeem them if there is a functioning economy. Through regulatory capture, the big corporations have avoided most of their taxes.

They are very proud of their bottom line and huge profits. This is coming to an end. They have starved out their customer.

The FEDs have pumped $ 6 trillion into the stock market since march.
Time for Fed to disprove PPT conspiracy theory - MarketWatch First Take - MarketWatch
The FEDs are buying about 91% of U.S Treasury bonds. The economy is barely limping along. All this new money is circulated to keep debt from defaulting and to keep the stock and bond markets from crashing.
The whole economy is supported by printing new dollars. All that printing puts the dollar itself in danger. The rich may take the biggest bath of all.
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Old 07-27-2013, 04:42 AM
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All democracies crash in the end. Politicians make promises to get elected. Eventually, somebody has to make good on those promises. It has always been this way. They promise pensions to GOV workers. They promise investment returns to bondholders/bondbuyers. They promise a chicken-in-every-pot to the poor. When there isn't enough money to go around, the politicians have to decide who gets burned.


"The bill for promises past is now so large for some cities and towns that it is crowding out money for the most basic of services – in the case of Detroit, it could not even afford to run its traffic lights," she said.

"Will [lawmakers] side with taxpayers, unions or the municipal bondholders? If they back residents, money will be directed to underfunded public services at the expense of pensions and bondholders. If they side with the unions, social services will continue to be cut and the risk to bondholders will increase considerably. If they side with bondholders, social services and pensions are at risk."
Some Hard Truths Become Apparent When One Faces Muni Bond Realities | Zero Hedge

Somebody is going to get gored;
The taxpayer
City employees
City pensioners
Bondholders
Scranton, Pa says that they need to raise property taxes by 117%
Apparently, Detroit is going to default on municipal bonds but continue to service "general obigation" bonds. They are also expected to cut pension payments by 90%. Every city is going to have to make the decision about who gets the shaft. All the various players are going to lose something.
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Old 07-28-2013, 05:25 PM
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Debt based money and systemic rick

A debt-based money system;
"When you have a system based on credit, rather than bullion, deals are never completely done. Instead, everything depends on the good faith and good judgment of counterparties — including everybody’s No. 1 counterparty: the U.S. government. Its bills, notes and bonds are the foundation of the money system. But they are nothing more than promises — debt instruments issued by the world’s biggest debtor."
Our money system depends on the morality and honesty of our GOV

"Every time someone borrows money to spend… the spending shows up in GDP.
Much of what we call GDP is actually added debt, NOT productivity

"Wise governments, if there are any, take no chances. They may feed the paper money to the people. But they hold onto gold for themselves."
Interesting perspective

Have Credit-Based Money, Will Fail

This page has a graph showing the profits of the financial sector. Keep in mind that GOV has recently pumped $ 6 trillion into the stock market and about $ 100 billion a month into the bond market.
Visualizing The 'Real' Economy Vs The 'Financial' Economy | Zero Hedge
Too many people want their money to go to work and compound itself. Like any "crowded" trade, there is too much money in the system trying to get returns. As is normal, any crowded trade will collapse. What will the collapse look like?
"$1,200 Trillion Derivatives Market Dwarfs World GDP
John Rolls Submits: The Derivatives market was only 500 trillion in 2008 when it almost blew up in all our faces. Now it is 3 times that size, what a monster balloon! When it blows no one survives that has money in the banks or in the mattress. "
From the Roaring Twenties to the Modern Financial Panic – ‘Bubbles Forever’, ‘Crashes Forever’ … More Frequent, Bigger, Costlier, Deadlier… SOMETHING WORSE THAN GREAT DEPRESSION COMING! | InvestmentWatch

In 2008, there were LOTS of signs of instability. What signs do we have now?
It Is Happening Again: 18 Similarities Between The Last Financial Crisis And Today

There are about 3 types of derivatives that are sold that resemble "re-insurance". These derivatives are attempts to spread risk so that no single institution gets crashed in the event of a blowup in one area. It is true that they greatly dilute risk exposure. In the event of a large loss, this risk exposure becomes all-inclusive. Europe is cracking apart and American banks have lots of exposure to European debt.
Europe is Cracking Apart… Are You Ready For a Crash? | InvestmentWatch
China is crashing too. The whole world is inter-connected on all this debt exposure. There will be nobody that can save the system. All debt-based systems have always crashed. I leave you with a song.
"The song was written by P. F. Sloan in 1965 when he was 19"
Eve of Destruction (with lyrics) - Barry McGuire - YouTube
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  #177  
Old 07-29-2013, 02:37 AM
Danny B Danny B is online now
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Comparitive bubbles

This article has an interesting graph showing the rise and fall of the money supply from 1929 compared to the rise of the money supply today.
http://www.elliottwave.com/affiliate...erence-aa.aspx

In gold news, it keeps getting ever stranger.
“the traded amount of ‘paper linked to gold’ exceeds by far the actual supply of physical gold: the volume on the London Bullion Market Association (LBMA) OTC market and the major Futures and Options Exchanges was OVER 92 TIMES that of the underlying Physical Market.”
Gold And The Endgame: Inflationary Deflation | Zero Hedge
The function of the credit markets is to move production-and-consumption "forward". You consume the proceeds of tomorrow's wages,,, TODAY. This all sounds ok until you factor in the cost of interest. Every thing that you buy on credit carries a small? bite from interest. Over the years, all these bites add up to quite a big sum. If you go bust and default, the bankers take your debt and present it to GOV to be paid.
GOV pays the bankers with Treasury bonds that also acrue interest.

In the event that your kids are unable to pay the redemption on the Treasury bonds, the bankers have an alternate plan. They demand revenue-generating infrastructure from GOV be handed to them.
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Old 07-30-2013, 01:52 AM
Danny B Danny B is online now
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Japan

All the big banks are inter-connected in debt exposure. in Japan, they not only lost their jobs to low-wage competitors, they lost their workers. The birth rate is dropping and there are few young to support the elderly retired. The population shrinks 200,000 a year headed for a future shrinkage of 1 million a year.
LifeSiteNews Mobile | The Asian Tiger ― Japan ― is in danger of extinction
The Japanese PTB can't seem to figure out why economic growth has stopped. Duh,, it costs money to have kids and money is in short supply. Even the business community has figured that one out.
Ben Stein's Right: It Costs Too Much To Have Children - Business Insider
The Japanese economy has chashed and the GOV is sloshing money into the system to make it grow. This is pure Keynesian claptrap.
Here are a few quotes from a very good article;

"The problem of course is that the people now in charge of moving the Japanese system from its current constellation have absolutely no idea on how to get it from where it is back on sound footing. The reason is simple, as with most policy quacks they are taught by other quacks. Some of the teachers even have Ph.D.’s. in quackery to prove to lesser quacks who truly master the art of quacking; we call them economists. "

"Good debt consists of business loans. Bad debt is defined as household and financial sector loans while government debt fits right into our category called destructive debt. "

"Japan has ended up in a rather peculiar situation in which revenue abide by the” laws” of deflation while spending reflects that of a system in inflation. "
Japan is printing new money like CRAZY. GOV debt is about 300% of GDP.
"Japan could lift its GDC from the current level of Yen500tr to Yen800tr and simultaneously reduce the debt ratio from 230 per cent to 140 per cent! Alternatively, they could double the monetary base and again – ceterius paribus – reduce the debt ratio to around 100 per cent.

Please note that none of this creates any value at all, but only help to redistribute real wealth to the government which can squander it as the ruling class see fit. "

Japan: From Quagmire To Abenomics To Collapse | Zero Hedge
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Old 07-30-2013, 02:44 AM
Danny B Danny B is online now
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China

America is affected by bank problems in both Japan and China.
The IMF recently warned China that credit creation was runaway. China said, "no Problem". That was about 2 weeks ago. Today, they are singing another tune.
EVERYBODY in China created credit so that everybody would be rich. Credit just moves consumption forward. Once you reach the future, you need even MORE credit to maintain your now-augmented lifestyle.
Today is the "tomorrow" that we didn't worry about yesterday.
In addition to needing additional credit to keep rolling, everybody needs "more" additional credit to pay the incurred interest from the original dose of credit.
All good things come to an end and now, credit is hard to come by.
Credit-Crunch in China and All Over Asia | Zero Hedge

Many thousands of GOV entities and bodies in China were able to create special "vehicles" that substituted for loans . Then, they used this credit to build everything that they could think of. This allowed for LOTS of corruption to steal from investors. The various GOV agencies created so many vehicles that the central GOV has NO idea how much credit has been created.

The central GOV has now panicked and demands a report. "The official People's Daily newspaper said separately on its website, citing unidentified sources, that an urgent order for the audit was issued on Friday and work will start this week."

China orders nationwide government debt audit | Reuters
The Chinese economy has a very high "stall speed". China needs about 7% growth to keep afloat. If money and credit are siphoned off into corrupt and worthless projects, it drags down wealth creation.
A credit crash in China would probably force the PBOC to liquidate U.S. treasury bonds to keep the Chinese banks afloat.
This is just one more chance for the system to go SPLAT

China isn't completely broke. They are expected to import 1,000 tons of gold this year. UPDATE 1-Chinese gold demand could hit 1,000 T this year-WGC | Reuters
They are currently importing about 1/2 of all world production of gold. They have BIG plans.
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Old 07-30-2013, 02:49 PM
Danny B Danny B is online now
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Drawdown of gold

I brought a 1 oz gold coin into the bank to show them what real money is. They looked at it like it was a 5 legged lizard. Westerners have had any awareness of gold squeezed out of them. Very few of us give it much thought. EXTENSIVE reading proves that it is very important. It has been referred to as a "barbaric relic". When Ron Paul asked Bernanke why central banks hold gold, Bernanke replied "tradition".

The bankers and other parasites demand a flexible currency so that they can create boom-and-bust and reap huge gains. Gold brings discipline.
There is a 100 day wait for gold delivery in London now. The London market is the biggest in the world.
"The LPMCL clears some 700 tonnes of gold and 5000 tonnes of silver every single day."
It is well worth understanding EXACTLY what this 700 tons of gold a day does.
Gold is the universal reference point for ALL currencies.
" NONE of these commodities trade as an FX currency cross, in other words gold is distinct in that it trades as a currency cross being sold and bought long and short against all other currencies 24 hours a day. The FX price is the real determinate of how much gold can be swapped for $ or vice-versa"

Gold prices all currencies, NOT the other way around. There is much talk that the dollar can never be replaced as a reserve currency. What a joke. That may have been true before the days of computers. Since ALL currencies are referenced to gold, there is no need for a reserve currency. The gold justs sits there queitly and doesn't move. That 700 tons a day doesn't go anywhere.

Gold is the one-and-only currency cross. Traders buy and sell tons of gold to price ALL other commodities. It's just price-discovery in a computerized world with gold as the reference. What happens when the gold runs out?
"Make no mistake though from a physical market perspective, the extreme condition we are currently witnessing in gold should never happen and forewarns of an extremely serious imminent disconnect illustrating a lack of immediately deliverable supply."
Andrew Maguire discusses gold backwardation and GOFO rates | TF Metals Report

The gold is running out. It fled East. The much-manipulated gold market is dying. Indications are that it is dying soon.
FOFOA
Since most of the world's traders demand gold-referencing for trades, they will demand gold-referencing for American securities. The U.S. treasury gold is gone. The securities will be priced accordingly.
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