Meet the New Boss, Same as the Old Boss - V
"If congress has the right under the Constitution to issue paper money, it was given them to use themselves, not to be delegated to individuals or corporations. The bold efforts that the present bank has made to control the government and the distress it has wantonly caused, are but premonitions of the fate which awaits the American people should they be deluded into a per- petuation of this institution or the establishment of another like it...If the people only understood the rank injustice of our money and banking system there would be a revolution before morning." - ANDREW JACKSON 7th President of The United States 1829 - 1837
The Real Cost
In Part V we noted the financial costs, but what are the social costs? Corruption of the political process through campaign contributions; the loss of representative government through grid lock and catering to special interests, which leads to “coercive” legislation.
Coercive legislation only benefits those with the money, power and influence over the system. Socio-political changes are effected through “coercive” legislation. The influence of monetary coercion distorts and perverts all three governmental branches, legislative, executive and judicial.
The financial and social costs cause suffrage to the systems of education, health, welfare and non-military technological advances, which would benefit society. These things are not to be taken lightly, or given the wave of a hand.
The money that should be used to educate is misallocated on military ventures. This leads to a lowering of the bar and the eventual dumbing down of the populace. This has a synergistic effect when combined with the legislative coercion through the three branches of government.
Historically, this leads to an erosion of individual and civil rights, a police state and a tyranny.
Hubba, Hubba, Who Do Ya Trust?
As banks lend by creating credit, they create the very means of payment out of thin air. This means that both corporate held banks and the government create money. This exclusive right was granted to banks and the Federal Reserve by the passage of the National Banking Act of 1863 and the Federal Reserve Act of 1913.
Over time, and left to their own devices, the financial sector’s behavior has grown worse. They are no longer adverse to short term risk as witnessed by the proliferation of derivatives, rate swaps, CDO’s and other synthetic instruments borne of financial engineering.
These instruments; attempt to profit on ever narrowing margins; are hybrids which borrow their modeling from outside the financial domain; are not fully stress tested under real market conditions; and as such are unpredictable in their behavior.
The current level of exposure to derivatives and the leverage employed by the financial sector is at an unprecedented level. The best analogy I can give, and this pertains to the central banks, The Fed and the financial sector in general: They are in uncharted waters, its overcast and they do not have a compass.
What would one expect from institutions that are under minimal control, create money out of thin air and use OPM (other people’s money) freely? Much like the Temple Market in Jerusalem, it's only natural that greed takes over and the money shufflers run amok.
To add insult to injury, in the event of a banking system failure, your tax dollars guarantee the debts of the banks through the Fed and the FDIC. You are the bank of last resort, whether you know it or not.
The official National mottoes are E Pluribus Unum, Latin for “Out of Many, One” and “In God We Trust”; these appear on most of our currency. This leads us to ponder a final philsophical question.
Outside of a deity, how can a person, government, corporation, or system be limited in nature, much less be trusted, when it has the exclusive right to create as much money as it wants, out of thin air?
"A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world--no longer a government of free opinion, no longer a government of conviction, and vote of the majority, but a government by the opinion and duress, of small groups of dominant men." - WOODROW WILSON 21st President of the United States 1913-1921
Just before President Wilson died, he is reported to have stated to friends that he had been "deceived" and that "I have betrayed my Country", referring to the Federal Reserve Act of 1913, passed during his Presidency.
All Hat, No Cattle, All Bull
This part is for all those smug Ivy League, MIT, Wharton, Oxford, Beserkely, educated, smart ass, elitist intellectuals who scoff, give the wave of a hand and dole out the revisionist pablum they were suckled and brainwashed with; "things have changed"; "its a new paradigm"; "its different this time" or "something like that could never happen".
The more things change, the more they stay the same. History always repeats itself, without fail. And, those who do not learn from history are doomed to repeat the mistakes of the past.
If nothing else, the quotes used in this series, mostly from learned individuals and respected American Presidents, should give a valid historical perspective to our current situation and what is to come.
In closing this series, I will refer to a documented historical event. I am an Agnostic and I do not present this event in a religious light; or in any manner other than for the purpose of demonstrating the effect that the money shufflers have.
The money shufflers in the Temple Market of Jerusalem profited greatly from the exchange rates that they charged worshipers for shekels to pay the priests, and then from the priests to convert it back into Roman money. In effect, they were "double ending" every deal; and they also profited exorbitantly from 300% loans that they made.
It was the sight of this Temple "Market" that triggered the only recorded incident in the lifetime of Jesus Christ in which, he reacted in a violent manner toward anyone. And maybe, within his reaction and the comments of Jackson and Chase (Part IV), lies a solution to our problem.
He overturned the tables of the money changers and the seats of those who sold pigeons; and He would not allow any one to carry anything through the Temple. And He taught, and said to them, "Is it not written, 'My house shall be called a house of prayer for all the nations'? But you have made it a den of robbers." (Mark 11:15-17)
The Real Cost
In Part V we noted the financial costs, but what are the social costs? Corruption of the political process through campaign contributions; the loss of representative government through grid lock and catering to special interests, which leads to “coercive” legislation.
Coercive legislation only benefits those with the money, power and influence over the system. Socio-political changes are effected through “coercive” legislation. The influence of monetary coercion distorts and perverts all three governmental branches, legislative, executive and judicial.
The financial and social costs cause suffrage to the systems of education, health, welfare and non-military technological advances, which would benefit society. These things are not to be taken lightly, or given the wave of a hand.
The money that should be used to educate is misallocated on military ventures. This leads to a lowering of the bar and the eventual dumbing down of the populace. This has a synergistic effect when combined with the legislative coercion through the three branches of government.
Historically, this leads to an erosion of individual and civil rights, a police state and a tyranny.
Hubba, Hubba, Who Do Ya Trust?
As banks lend by creating credit, they create the very means of payment out of thin air. This means that both corporate held banks and the government create money. This exclusive right was granted to banks and the Federal Reserve by the passage of the National Banking Act of 1863 and the Federal Reserve Act of 1913.
Over time, and left to their own devices, the financial sector’s behavior has grown worse. They are no longer adverse to short term risk as witnessed by the proliferation of derivatives, rate swaps, CDO’s and other synthetic instruments borne of financial engineering.
These instruments; attempt to profit on ever narrowing margins; are hybrids which borrow their modeling from outside the financial domain; are not fully stress tested under real market conditions; and as such are unpredictable in their behavior.
The current level of exposure to derivatives and the leverage employed by the financial sector is at an unprecedented level. The best analogy I can give, and this pertains to the central banks, The Fed and the financial sector in general: They are in uncharted waters, its overcast and they do not have a compass.
What would one expect from institutions that are under minimal control, create money out of thin air and use OPM (other people’s money) freely? Much like the Temple Market in Jerusalem, it's only natural that greed takes over and the money shufflers run amok.
To add insult to injury, in the event of a banking system failure, your tax dollars guarantee the debts of the banks through the Fed and the FDIC. You are the bank of last resort, whether you know it or not.
The official National mottoes are E Pluribus Unum, Latin for “Out of Many, One” and “In God We Trust”; these appear on most of our currency. This leads us to ponder a final philsophical question.
Outside of a deity, how can a person, government, corporation, or system be limited in nature, much less be trusted, when it has the exclusive right to create as much money as it wants, out of thin air?
"A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the Nation and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world--no longer a government of free opinion, no longer a government of conviction, and vote of the majority, but a government by the opinion and duress, of small groups of dominant men." - WOODROW WILSON 21st President of the United States 1913-1921
Just before President Wilson died, he is reported to have stated to friends that he had been "deceived" and that "I have betrayed my Country", referring to the Federal Reserve Act of 1913, passed during his Presidency.
All Hat, No Cattle, All Bull
This part is for all those smug Ivy League, MIT, Wharton, Oxford, Beserkely, educated, smart ass, elitist intellectuals who scoff, give the wave of a hand and dole out the revisionist pablum they were suckled and brainwashed with; "things have changed"; "its a new paradigm"; "its different this time" or "something like that could never happen".
The more things change, the more they stay the same. History always repeats itself, without fail. And, those who do not learn from history are doomed to repeat the mistakes of the past.
If nothing else, the quotes used in this series, mostly from learned individuals and respected American Presidents, should give a valid historical perspective to our current situation and what is to come.
In closing this series, I will refer to a documented historical event. I am an Agnostic and I do not present this event in a religious light; or in any manner other than for the purpose of demonstrating the effect that the money shufflers have.
The money shufflers in the Temple Market of Jerusalem profited greatly from the exchange rates that they charged worshipers for shekels to pay the priests, and then from the priests to convert it back into Roman money. In effect, they were "double ending" every deal; and they also profited exorbitantly from 300% loans that they made.
It was the sight of this Temple "Market" that triggered the only recorded incident in the lifetime of Jesus Christ in which, he reacted in a violent manner toward anyone. And maybe, within his reaction and the comments of Jackson and Chase (Part IV), lies a solution to our problem.
He overturned the tables of the money changers and the seats of those who sold pigeons; and He would not allow any one to carry anything through the Temple. And He taught, and said to them, "Is it not written, 'My house shall be called a house of prayer for all the nations'? But you have made it a den of robbers." (Mark 11:15-17)
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