Funny Money, Fraudclosure And The Fed
The Queen's official QE2 cash...
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Scroll down for VIDEO...
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How Banks And The Federal Reserve Are Destroying The Planet
By Ellen Brown - Author - Web of Debt - Corruption and the Federal Reserve
Time for a new theory of money...
The reason our financial system has routinely gotten into trouble, with periodic waves of depression like the one we’re battling now, may be due to a flawed perception not just of the roles of banking and credit but of the nature of money itself. In our economic adolescence, we have regarded money as a “thing”—something independent of the relationship it facilitates. But today there is no gold or silver backing our money. Instead, it’s created by banks when they make loans (that includes Federal Reserve Notes or dollar bills, which are created by the Federal Reserve, a privately-owned banking corporation, and lent into the economy). Virtually all money today originates as credit, or debt, which is simply a legal agreement to pay in the future.
In an illuminating dissertation called “Toward a General Theory of Credit and Money” in The Review of Austrian Economics, Mostafa Moini, Professor of Economics at Oklahoma City University, argues that money has never actually been a “commodity” or “thing.” It has always been merely a “relation,” a legal agreement, a credit/debit arrangement, an acknowledgment of a debt owed and a promise to repay.
DB here. Another paragraph that caught my attention...
The bankers have engaged in what amounts to a massive fraud, not necessarily because they started out with criminal intent (although that cannot be ruled out), but because they have been required to in order to come up with the commodities (in this case real estate) to back their loans. It is the way our system is set up: The banks are not really creating credit and advancing it to us, counting on our future productivity to pay it off, the way they once did under the deceptive but functional facade of fractional reserve lending. Instead, they are vacuuming up our money and lending it back to us at higher rates. In the shadow banking system, they are sucking up our real estate and lending it back to our pension funds and mutual funds at compound interest. The result is a mathematically impossible pyramid scheme, which is inherently prone to systemic failure.
And this one. Read the 'Bank of North Dakota' link below...
For capital, a state bank could use some of the money stashed in a variety of public funds. This money need not be spent. It can just be shifted from the Wall Street investments where it is parked now into the state’s own bank. There is precedent establishing that a state-owned bank can be both a very sound and a very lucrative investment. The Bank of North Dakota, currently the nation’s only state-owned bank, is rated AA and recently returned a 26 percent profit to the state. A decentralized movement has been growing in the United States to explore and implement this option. [For more information, see public-banking.com.]
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Bonus clips...
Video: Ellen Brown with Alex Jones
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Video: Ellen Brown with Max Keiser on fraudclosure
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More QE2 funny money...
Oct 29, 2010 at 6:43 AM
Reader Comments (11)
ellen brown's book...on the Fed...
http://www.springerlink.com/content/m75t57864666m130/
Though she had two master's degrees, she had filed for bankruptcy and was homeless when she was befriended by a real estate agent who let her sleep in a car. But after she died in the front seat, it was not reported to authorities.
http://www.latimes.com/news/local/la-me-mummy-20101028,0,5871551.story?source=patrick.net#content
I have stated before that fiat is not real wealth, but merely a vehicle to transfer real wealth. That is what is happening now, real wealth being gobbled up while people worry about saving the monopoly money...
Don't you dare hunt in the Kings forest.
As far as "plotting the metaphysical annihilation of Geithner, Bernanke, Paulson and Krugman" please add Summers, Chris Dodd and Lloyd "My Bank is Fine" to that list, and we'll ALL be a lot better off. Once we kick out the cronies, "you will see the return of true economic justice … not the false promise of social justice that enslaves you by rewarding dependency and failure, but the true justice that sets you free by rewarding independence and success."
Happy Friday!
Amen Wil, Amen...
George Soros' political philosophy, which advocates a culture of abortion, atheism, pornography, homosexual marriage, euthanasia, doctor-assisted suicide and legalized drugs, if realized, would surely mean the end of a free and moral America ("The Soros empire," Commentary, Friday).
I find Mr. Soros' politics rather ironic given that he fled Nazi-occupied Hungary as a youth. Mr. Soros uses his vast wealth to fund anti-American policies and leftist politicians with the hope of transforming our constitutional system of government.
The real expert on this subject is Dr. Edwin Vieira, whose book "Pieces of Eight: The Monetary Powers and Disabilities of the United States Constitution", 2nd ed., is *the* definitive and seminal work. A review of this book y James Turk can be found at: http://www.gata.org/node/7536
Barring reproduction of all 1600+ pages with 6000+ footnotes here, two excellent examples of Dr. Vieira's erudition are his article "What is a Dollar", and his recent talk given at the Committee for Monetary Research and Education's fall dinner, "A Cross Of Gold", in which he eviscerates the notion that "Money" is anything other than gold or silver metal, of well-regulated weight and fineness, stamped with the imprimatur of a sovereign.
A Cross of Gold
http://www.gata.org/files/Vieira-ACrossOfGold-10-21-2010.pdf
What is a Dollar?
http://www.fame.org/HTM/Vieira_Edwin_What_is_a_Dollar_EV-002.HTM
http://www.youtube.com/watch?v=S7KSHy34zyY
The little fucker backtracks after Spitzer tells him that he should be arrested.