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"Smashing system doesn't fix it"

Discussion in 'Politics, Elections & Legislation' started by tj303, Aug 1, 2011.

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  1. tj303

    tj303 Member

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    "Smashing system doesn

    As a life time Republican I agree with this article.
    http://www.cnn.com/2011/OPINION/08/01/frum.debt.republicans/index.html?hpt=hp_c1
     
  2. R.Kipling

    R.Kipling Well-Known Member

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    This article is just more Beltway Distraction intended to give political Dung Beatles something to chew on - sorry.

    Our financial debauching should never have happened, never did actually happen and can be reversed in a heartbeat. Surprised - so was I, by a recent business meeting on K Street.

    Besides all the waste and fraud and greed that goes on on Capital Hill every day of the week 24/7 there are two quick moves that could be made to reverse the cash hemorrhage going on right now. Fiat money showering our Kleptocracy while you are freaked out about your 401K and Mommy's SS check. - pure venal distraction -.

    fix one - stop paying the Federal Reserve, a private banking system with foreign owners for our own money. When you loan money to a bank, you get interest - not pay for the privilege. We don't even have to collect back interest, daily interest will cover every required dollar.

    fix two - a bit more out there, until you really make the effort to understand the Federal Reserve Banking System, then, it becomes quid-pro-quo on the Fed. The Treasury has the Constitutional right to produce coinage, and we have stores of precious metals like Platinum. If congress would authorize two $1 trillion dollar coins, those coins could then be deposited in the Federal Reserve Bank and the Treasury could begin drawing against the deposit.

    A shady deal you say? Then now you understand exactly what the Fed has been doing to us for over 80 years. Before he died, Woodrow Wilson, our wonderful, Uber-liberal, college president, President, deeply apologized to the American Public for the Federal Reserve. It just wasn't enough and, if there's a God, Wilson is burning in Hell for it as you read this!.

    I still have hope that America will wake up, take back our education system and teach good honest American survival. We need to burn down the malignant media wherever it raises it's lying, mendacious head - not promote the damn thing.

    Meanwhile cognitive dissonance remains the order of the day.........rant-off

    IMHO,
    Kip
     
  3. Setterman

    Setterman Well-Known Member

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    Watch the "Any bets who he voted for" thread below. Yes, drastic budget cutting measures need to be taken. Too many lazy butts are milking the system.
     
  4. halfmile

    halfmile Well-Known Member

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    The ultimate insult:

    The fed printed up 16 TRILLION Dollars, and borrowed it to financial institutions over seas.

    Any bets on what that will do to the value of your dollars?

    They did not do a complete audit, but this was one of the rats they found in the flour bin. Mashy Linky.

    HM
     
  5. mrskeet410

    mrskeet410 TS Member

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    Kip - You told us the owners of the fed were a secret. How did you find out they were foreigners?
     
  6. mrskeet410

    mrskeet410 TS Member

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    Er Kip, the treasury is not loaning money to the Fed. The Fed loans money to the treasury.
     
  7. slic lee

    slic lee Active Member

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    Just a dumbocrat rant. That small percent is the intelligent part of the tea party. Most repubs are too slow or too not so smart, to be nice.
    The repubs voted for business as usual today, turned their backs on the workers, the providers of this country.
    To you who betrayed our trust,LOOK FOR A JOB, I VOTE AGAINST YOU.
    To you morons, who believe putting us into more debt, 8 trillion dollars more and keeping spending at the rate it is, you have my pity but not my money. I refuse to chip in one more dollar to this crooked broken govt. Lets see how many more business people close down now, soon you will have no money for private individuals only for govt employees and then not for them as the govt starts eating its own like the RABID DOG IT IS. Lee
     
  8. R.Kipling

    R.Kipling Well-Known Member

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    Halfmile,

    There's some real good Fed information at the link above. It is a criminal shame that we are allowing this to go on. I'm still praying for an Arab Summer in Washington DC.

    Slic,

    I'm with you on the $$$. Not one cent more until Rangel pays his taxes, Nobama shows us leadership by paying what he thinks should be his real fair share, and Nancy pays her bar bills...........

    Kip,
    Proud member of two Tea Parties (Taxed Enough Already party)
     
  9. tj303

    tj303 Member

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    Here are the some of the largest holders of US debt: (http://www.wealthson.com/1549/who-are-the-largest-holders-of-us-debt)
    When the Tea Party knuckleheads want to default on US debt obligations who gets hurt the worst is Americans, not the Chinese.
    1. Social Security Trust Fund
    Holds total of $2.67 trillion debt which is 19% of the total debt.
    The Old-Age and Survivors Insurance (OASI) and Disability Insurance (DI) Trust Funds invest exclusively in special issue bonds that are only available to the Social Security trust fund. These are not publicly traded securities, but they still constitute a huge amount of debt.
    2. The Federal Reserve
    Holds total of $1.63 trillion of treasuries which is 11.3% of the total debt.
    The Treasury owes the Fed $1.63 trillion in Treasuries, much of which were bought for the Quantitative Easing programs.
    3. China
    Holds $1.6 trillion of treasuries which is 8% of total debt.
    China is the highest holder of US debt among the foreign buyers.
    4. US Households
    Holds total of $959.4 Billion of treasuries which is 6.6% of the total US debt.
    Household sector includes Hedge funds too, so no surprise that the percentage holdings are high.
    5. Japan
    Holds $ 912.4 Billion of treasuries which is 6.4% of total US debt.
    Japan happens to be the second highest holder of the US debt among the foreign holders.
    6. State and Local Governments
    Holds $506.1 Billion of US treasuries which is 3.5% of the total debt of the US.
    7. Private Pension Funds
    Holds $504.7 billion of US treasuries which is almost 3.5% of total debt.
    8. United Kingdom
    Holds $346.5 Billion of US treasuries which is 2.4% of total debt
    UK is the third largest holder of US debt among foreign debt holders.
    9. Money Market Mutual Funds
    Holds $337.7 billions of US treasuries which is 2.4% of total debt.
    10. State, Local and Federal retirement funds
    Holds $320.9 Billion of US treasuries which is 2.2% of total debt.
     
  10. sliverbulletexpress

    sliverbulletexpress TS Member

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    Knucklehead, the Tea Party doesn't want to default, the Tea Party wants the US.gov to live within it's means and Constitution.
     
  11. drlamar

    drlamar TS Member

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    Wait a minute. Still trying to catch my breath after reading the claim the Federal Reserve System, including the Federal Reserve Banks are ". . . a private banking system with foreign owners for our own money." Really? Well, let's see if that makes any sense at all. Why in the world would the U.S. Congress grant a charter to a foreign bank, with foreign ownership, to among other things, determine and execute monetary policy for the U.S.? Seems rather odd on its face, don't you think? And if the Fed is owned by foreign interests then those owners are truly odd and extremely charitable folks who permit 95% of the Fed's income to be paid to the U.S. Treasury. Maybe we should send those foreign owners thank you notes for their generosity.

    No sooner have I caught by breath than I read a suggestion that trillions of dollars of precious metals be deposited with the Fed (I assume deposited by the U.S Treasury) then withdrawn by the U.S Treasury for purposes the writer does not state. But if the Fed is an evil empire of private banking owned by foreign interests, why should the hole be made deeper by depositing boat loads of precious metal? I begin to feel like Alice; things are getting curiouser and curiouser in this rabbit hole.

    As for the loans to foreign banks, maybe, just maybe, someone ought to consider a prayer of thanksgiving that in the darkest days of 2008 there was a Fed to provide liquidity to the world when it was desperately needed.

    Believe all the idiot conspiracy theories you wish. The reality is the U.S. is in a mess as a result of failed fiscal policy to the tune of $14 trillion and counting while the Fed, despite significant monetary guns, is running out of bullets to counter out of control public spending.
     
  12. kirbythegunsmith

    kirbythegunsmith Member

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    See what the Chairman of the Banking Committee had to say in 1934 about the 2 decade year monopoly scam known as the Federal Reserve. Plenty more of the speech is at this link.

    Plenty of other links and sample quotes below.

    Even Bloomberg reported that the Fed doesn't fall under FOIA, but the FBI and plenty of other Gov't institutions do, don't they?

    ---------------------------------

    http://www.afn.org/~govern/mcfadden.html

    Congressman McFadden
    on the Federal Reserve Corporation
    Remarks in Congress, 1934
    AN ASTOUNDING EXPOSURE

    Quotations from several speeches made on the Floor of the House of Representatives by the Honorable Louis T. McFadden of Pennsylvania. Mr. McFadden, due to his having served as Chairman of the Banking and Currency Committee for more than 10 years, was the best posted man on these matters in America and was in a position to speak with authority of the vast ramifications of this gigantic private credit monopoly. As Representative of a State which was among the first to declare its freedom from foreign money tyrants it is fitting that Pennsylvania, the cradle of liberty, be again given the credit for producing a son that was not afraid to hurl defiance in the face of the money-bund. Whereas Mr. McFadden was elected to the high office on both the Democratic and Republican tickets, there can be no accusation of partisanship lodged against him. Because these speeches are set out in full in the Congressional Record, they carry weight that no amount of condemnation on the part of private individuals could hope to carry.

    The Federal Reserve-A Corrupt Institution


    "In 1913, before the Senate Banking and Currency Committee, Mr. Alexander Lassen made the following statement: "The whole scheme of the Fed with its commercial paper is an impractical, cumbersome machinery- is simply a cover to secure the privilege of issuing money, and to evade payment of as much tax upon circulation as possible and then control the issue and maintain, instead of reducing interest rates. It will prove to the advantage of the few and the detriment of the people. It will mean continued shortage of actual money and further extension of credits, for when there is a shortage of money people have to borrow to their cost.' "A few days before the Fed passed, Senator Root denounced the Fed as an outrage on our liberties. He predicted: 'Long before we wake up from our dream of prosperity through an inflated currency, our gold- which alone could have kept us from catastrophe- will have vanished and no rate of interest will tempt it to return.'

    "If ever a prophecy came true, that one did. "The Fed became law the day before Christmas
    Eve, in the year 1913, and shortly afterwards, the German International bankers, Kuhn, Loeb and Co. sent one of their partners here to run it.

    "The Fed Note is essentially unsound. It is the worst currency and the most dangerous that this Country has ever known. When the proponents of the act saw that the Democratic doctrine would not permit them to let the proposed banks issue the new currency as bank notes, they should have stopped at that. They should not have foisted that kind of currency, namely, an asset currency, on the United States Government. They should not have made the Government [liable on the private] debts of individuals and corporations, and, least of all, on the private debts of foreigners. "As Kemerer says: 'The Fed Notes, therefore, in form, have some of the qualities of Government paper money, but in substance, are almost a pure asset currency possessing a Government guarantee against which contingency the Government has made no provision whatever.'



    "Before the Banking and Currency Committee, when the bill was under discussion Mr. Crozier of Cincinnati said: 'The imperial power of elasticity of the public currency is wielded exclusively by the central corporations owned by the banks. This is a life and death power over all local banks and all business. It can be used to create or destroy prosperity, to ward off or cause stringencies and panics. By making money artificially scarce, interest rates throughout the Country can be arbitrarily raised and the bank tax on all business and cost of living increased for the profit of the banks owning these regional central banks, and without the slightest benefit to the people. The 12 Corporations together cover y and monopolize and use for private gain- every dollar of the public currency and all public revenue of the United States. Not a dollar can be put into circulation among the people by their Government, without the consent of and on terms fixed by these 12 private money trusts.'

    "In defiance of this and all other warnings, the proponents of the Fed created the 12 private credit corporations and gave them an absolute monopoly of the currency of these United States- not of the Fed Notes alone- but of all other currency! The Fed Act providing ways and means by which the gold and general currency in the hands of the American people could be obtained by the Fed in exchange for Fed Notes- which are not money- but mere promises to pay.

    "Since the evil day when this was done, the initial monopoly has been extended by vicious amendments to the Fed and by the unlawful and treasonable practices of the Fed.

    ---------------------------------

    http://www.globalresearch.ca/index.php?context=va&aid=8518

    The Federal Reserve is a Private Financial Institution

    -------------------------------------

    Greenspan admits The Federal Reserve is not a Government Agency
    In an interview with Jim Lehrer, Alan Greenspan admits that the Federal Reserve is not a government agency. This should put to rest the deniers on this board who are willingly ignorant:

    When asked by Jim Lehrer what should be the proper relationship between a chairman of the Fed and The President of the United States, Greenspan said:

    Quote:
    Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that there is no other agency of government which can overrule actions that we take. So long as that is in place and there is no evidence that the administration or the Congress or anybody else is requesting that we do things other than what we think is the appropriate thing, then what the relationships are don't, frankly, matter.

    -------------------------

    http://georgewashington2.blogspot.com/2011/07/federal-reserve-admits-that-its-12.html

    Much of the tens of trillions in bailout money and "easy" money from quantitative easing went to foreign banks (and see this, this and this).

    Indeed, Ron Paul noted recently that one-third of all fed bailout loans - and essentially 100% of loans from the New York Fed - went to foreign banks.

    The New York Fed is the most important Fed bank. As Bloomberg pointed out in 2009:

    The New York Fed is one of 12 regional Federal Reserve banks and the one charged with monitoring capital markets. It is also managing $1.7 trillion [now up to at least $1.9 trillion] of emergency lending programs [and accepting collateral from the banks in return].

    However, the country's most powerful "agency" - the Federal Reserve - is actually no more federal than Federal Express. The Fed itself admitted (via Bloomberg):

    While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions.

    For that reason, the New York Fed alleged in the lawsuit brought by Bloomberg to force the Fed to reveal some information about its loans - Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan) - that it was not subject to Federal Freedom of Information Act. As Bloomberg reported in a separate article:

    The Federal Reserve Bank of New York ... runs most of the lending programs. Most documents relevant to [a freedom of information lawsuit filed by Bloomberg news] are at the New York Fed, which isn’t subject to FOIA law, according to the central bank. The Board of Governors has 231 pages of documents, to which it is denying access under an exemption for trade secrets.

    -------------------------

    http://www.publiccentralbank.com/

    Much reference should be made to this book.

    - The Creature From Jekyll Island -
     
  13. kirbythegunsmith

    kirbythegunsmith Member

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    Essential quote from Senator McFadden, former Banking Committee Chairman, member over 10 years. This man and his fellow members lived before there was a perverse crime foisted upon this fine country in the traitorous passage by nefarious means of the Federal Reserve Act. This was passed while almost all members were away for holiday break and signed by the man who kept us out of war, until he got us into war - Woodrow Wilson, who had high hopes of being the first World President through the League of Nations, 30 years before the newer crime of the UN.

    --------------------------


    "Mr. Chairman, we have in this Country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks, hereinafter called the Fed. The Fed has cheated the Government of these United States and the people of the United States out of enough money to pay the Nation's debt. The depredations and iniquities of the Fed has cost enough money to pay the National debt several times over.

    "This evil institution has impoverished and ruined the people of these United States, has bankrupted itself, and has practically bankrupted our Government. It has done this through the defects of the law under which it operates, through the maladministration of that law by the Fed and through the corrupt practices of the moneyed vultures who control it.

    "Some people who think that the Federal Reserve Banks United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lender. In that dark crew of financial pirates there are those who would cut a man's throat to get a dollar out of his pocket; there are those who send money into states to buy votes to control our legislatures; there are those who maintain International propaganda for the purpose of deceiving us into granting of new concessions which will permit them to cover up their past misdeeds and set again in motion their gigantic train of crime.

    "These twelve private credit monopolies were deceitfully and disloyally foisted upon this Country by the bankers who came here from Europe and repaid us our hospitality by undermining our American institutions. Those bankers took money out of this Country to finance Japan in a war against Russia. They created a reign of terror in Russia with our money in order to help that war along. They instigated the separate peace between Germany and Russia, and thus drove a wedge between the allies in World War. They financed Trotsky's passage from New York to Russia so that he might assist in the destruction of the Russian Empire. They fomented and instigated the Russian Revolution, and placed a large fund of American dollars at Trotsky's disposal in one of their branch banks in Sweden so that through him Russian homes might be thoroughly broken up and Russian children flung far and wide from their natural protectors. They have since begun breaking up of American homes and the dispersal of American children. "Mr. Chairman, there should be no partisanship in matters concerning banking and currency affairs in this Country, and I do not speak with any.
     
  14. R.Kipling

    R.Kipling Well-Known Member

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    drl,

    Here's a link to help you understand what you've read.

    http://learningdisabilities.about.com/od/instructionalmaterials/a/pq4rstrategy.htm

    And another:

    http://rainbowwarrior2005.wordpress.com/2008/09/29/federal-reserve-owners-and-history/

    You can review Charles Lindberg's speeches through the Library of Congress at the Thomas site. http://thomas.loc.gov/home/thomas.php

    Kip

    ** this is the last click I'll waste on you, also.
     
  15. Shooting Coach

    Shooting Coach Well-Known Member

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  16. M R Ducks

    M R Ducks Member

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    Darn those Tea Party guys for doing EXACTLY what they said they would do....

    How dare they be honest or show some stones!

    Bet they all get re-elected anyway......
     
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