Saturday, May 08, 2010

MSM Announces Obama Now Favors Fed Audit

"The man who never looks into a newspaper is better informed than he who reads them; inasmuch as he who knows nothing is nearer to the truth than he whose mind is filled with falsehoods and errors" - Thomas Jefferson on the "Mainstream Media" of his day.

The most important issue in America today is one barely discussed by most candidates and largely avoided by the corporate media. That issue is the Federal Reserve system and the way in provides the Federal Government and banking insiders with a virtual "magic money machine". With the MMM, they can suck the value right out of your holdings and into theirs. They can magically cause every losing bet they make to show up on the people's ledger instead of theirs. They can and have used it to vastly expand the reach and power of the Federal government, and conceal the true cost of doing so.

If you or I had a Magic Money Machine, over time we would grow all powerful. The Feds and the banksters have a Magic Money Machine, and its called the Federal Reserve System. Over time, they are growing all powerful. Right now nobody in Congress is even allowed to see what they do with this Magic Money Machine, much less restrain it, or God willing, unplug it. If the people could see what the Fed and the banksters were using the MMM for, they might demand it be unplugged. There is already powerful evidence to suggest they are using it to systematically loot the American people on behalf of not even an American elite, but a global elite. A real audit of the Federal Reserve would prove it, and that is probably why the elites are fighting such an audit tooth and nail.

This looting through some form of central bank has happened before in our history. The first time Thomas Jefferson put a stop to it early. The second time, it was a harsher struggle, but the American people raised up "Old Hickory" (Andrew Jackson) who finally won the battle against the Fed and banksters of his day.

"Gentlemen, I have had men watching you for a long time, and I am convinced that you have speculated in the breadstuffs of the country. When you won, you divided the profits among yourselves, when you lost, you charged it to the bank........you are a den of vipers and thieves, I intend to route you out, and by the grace of God, will route you out."
- Andrew Jackson

Different generation, same scam. Now days the mechanisms by which this process of gambling, keeping what you win and charging to the public what you lose, is called by names like the Fed Discount Window, Open Market Operations (which are ironically NOT done in the open) and TALF. TARP was actually the least odorous of the bundle of programs that were initiated or expanded by the original bailout legislation. That's one reason why bailout voting politicians keep trying to say "TARP" rather than the broader term "bailouts" which more accurately describes the totality of what is going on.

In 1913 the banksters got their hands on a MMM for the third time when the Federal Reserve Act was passed. They immediately flooded the market with credit and brought us the Roaring Twenties. That of course precipitated the Great Depression. They thought the problem was that the dollar was connected to a fixed standard of value- 1/20th of an ounce of gold. The fact that people could redeem their dollars for gold was a limit on how many dollars their MMM could create out of thin air to expand government and steal wealth.

Their "solution?" FDR made it illegal for Americans to own gold. He gave them a fixed exchange rate for the gold he confiscated, and then immediately devalued the dollar. That meant that the gold he just took was worth almost twice as many dollars as he gave us for them. Like our recent bailouts, it was a massive transfer of wealth to the government and their friends. More importantly, individual Americans lost their power to call the federal government to account.

When dollars were exchangeable for a fixed amount of gold, any citizen who thought that the fed was creating more dollars than it could back could simply hand in their dollars and force the Fed to cover in gold. Odds were, the feds were "leveraging", that is they were creating more dollars than they had gold to back it up with. When enough individuals called them on the fraud by exchanging dollars for gold, the feds had to stop their expansion of government because they had to stop their expansion of dollars that funded it. After FDR, the power of the individual citizen to call government to account for its expansionism was destroyed.

After that, the fed was restrained only by the fact that foreigners still retained a right that American citizens no longer possessed- the right to make the federal government of the United States exchange dollars for gold at a fixed exchange rate. To a lessor extent other governments were trying to do the same thing with their currencies, so no one called us on it for a while. Around 1970, France finally called us on it. They shipped in crates of dollars and asked for the stored value (the gold) that we said backed those dollars. Nixon responded by severing the last link between the dollar and gold.

Starting in the seventies then, the Fed could flood the earth with dollars backed by nothing more than the "full faith and credit" of the U.S. government. In 1969, gold sold in the open market for $35 an ounce. In terms of gold, the dollar has therefore lost 97% of its buying power in the 50 years since the Feds were cut free from the final cord of gold-standard restraint. Freed of market restraints, the magic money machine was even more empowered to suck out the wealth of this nation's people at light speed, and grow government to vast and incomprehensible size.

Dollars ever since have been backed wholly by the "full faith and credit of the U.S. government." And what did that mean? What did the global banking elites have "faith" that the U.S. government would do? The answer is that the U.S. government would tax and plunder the wealth of the citizens of this country sufficiently to cover however many pieces of fiat currency that they would create. Faith that the U.S. government would tax as oppressively as it needed to so that some banker in Zurich or Dubai would get value when they called those notes (your dollars actually say that they are federal reserve "notes").

Currency backed by a commodity (or even made of a commodity such as the gold or silver specified by our constitution) represents value that has already been obtained. It is not a promise to plunder your citizens in the future to make it good, it's already good because it represents a claim on an existing asset. With a fiat currency which is created by debt, like the dollar we have now, the asset backing the currency is you. It the future labor of the citizens. The government is promising to extract the wealth to cover its debt later. This permits the explosion of government spending and power on a scale impossible to do when the government must first build value into a currency before they can issue it.

The federal government, including most of the names you know in both DC-based parties, will never willingly give up this power. Even if some of them understood the issue and wanted out, the financial backers of both parties' machinery would not permit it, because they are some of the man keyholders to the MMM. The allure of having a piece of a MMM is simply too great. And if the Fed got a real and full audit with the results widely known, the right-thinking people of this country would find themselves another Jefferson or Jackson to unplug their monsterous machine. To turn it off before it makes penniless slaves of the entirety of what used to be the middle and working classes of this nation.

That's why they are so desperate to avoid a real audit. Global banksters so venal as to suck the wealth out of America's once strong middle and working classes will not hesitate to direct its hirelings to lie to them. Pressure for a real audit is building. It passed the house overwhelmingly thanks to the tireless work of Texas Congressman Ron Paul. This was despite numerous attempts by establishment players such as the contemptible deviant from Massachusetts Barney Frank to stop the bill. In Frank's case, after pretending he was for it, at the last minute he attempted a double-cross of Paul and Grayson. Too many people were watching, and his efforts to substitute the original language with a sham-audit failed.

President Obama has carried on about how "transparent" his administration would be. Nothing could be further from the truth. He is firmly on the side of the banksters when it comes to keeping the most sinister operations of the MMM secret. They want to retain the power to expand government through debt whose true cost is temporarily concealed. The banksters want to continue to take all of their losing bets to the Fed Discount Window and get Treasury notes that have real value in exchange (the government's promise to take your future earnings and give it to the holder of the note is the real value). He sent his chief of staff to the Senate to make sure that no real audit bill gets passed into law.

I suspect that what he found was that too many citizens had been communicating with too many senators to kill the bill outright. What they resorted to instead was trickery and deceit. Paul and Grayson had been depending on independent Senator Bernie Sanders to carry the bill in the Senate. At the last minute, Sanders substituted language in the bill that not only made the audit a one-time audit, but it excluded from the audit the main things that the Fed uses to operate the MMM. The operations of the Fed Discount Window would be excluded from the audit under the Sander's changes. So would "Open Market Committee" meetings- ironically they would continue to be held in secrecy. Likewise, the American people and their representatives would continue to be completely ignorant of certain transactions with foreign banks. We could bail out Greece (by giving money to the banksters who lent it to them) and never even know it!

The Mainstream Media now hails Obama as someone who is "for" an audit of the Federal Reserve. What they don't tell you is what I have told you. That this audit bill is a sham. It pretends the problem with the Fed is limited to a time window right around the bailouts rather than something that is inherent in having a secretly operated MMM. In addition, it excludes the areas where most of the real damage is done.

Ron Paul, the real go-to guy on this issue, described the situation as one in which "Bernie Sanders sold us out." You can listen to his description of the chicanery below.



This is the most important issue in politics, because it effects every other issue. Yet most candidates are not talking about it. Most activists are not pushing it. That's a mistake that chops off and throws in the wastebasket the huge part of our American Heritage that is our struggle against Central Banking. Don't count on any broadcast media to tell you the truth about it, whether they purport to be from the left or the right. You can't even trust many politicians who attempt to jump in front of the bandwagon on it, as Frank and Sanders demonstrate. Patriots, there are many forces that want to distract you. If you want your children to grow up free instead of as debt slaves, you can't take the bait. This historical battle against central banks is the root of the battle against expansionist government. The Republic needs all patriots to be informed and engaged on this seminal issue.

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