11.30.2008
“Words From The Several States” column 003
Secretary of State Hillary Clinton and Treasury Chief Timothy Geithner? Hmmm. It really is not such a bad idea, on many levels.
More important is the possibility of former President Clinton being appointed special envoy to the middle east. Regardless of CGI funding matters and other assets the Clintons have in UAE, its a very good idea.
Lets explore why.
President Clinton is just that, A former, mostly successful, President of the USA. Clinton has many personal relationships in the middle east. Clinton is also a very patient and methodical listener. Far more than I can say for the current Oval office desk jockey.
President Clinton also has a very good working relationship with Prime Minister Tony Blair, currently on assignment as Ambassador at large for the United Kingdom. Blair is held partially responsible for providing MI-6 Intel that allowed Bush to go to war; and he sent British troops. He is also a dogged and tough enough personality, to barter any deal with any cast of leaders. Tony Blair grew in stature, and he holds a place of good standing with me. I don't say that about many ex-British heads of state.
I think the combined star power, and huge political persona of Clinton-Blair is just what may be needed, to really bring peace to the middle eastern region.
11/23 8:16am
Looks like Hillary will be America's next top diplomat at State. If she can get through the Senate confirmation process.
Back to our analysis: Hey Timmy? Can you spare $7 Trillion?
11/24 10:02pm
His name is Timothy Geithner, current appointment, President, New York Federal Reserve Bank. Folks this is one of the nine or ten best jobs in all of politics.
Please let me know I'm being cynical here, or if If you think I'm hitting it right on the bulls-eye?
Following the careers and analysing FED movers and shakers, this is what we do here at FRN.
Lets talk about Timmy G. because this guy is what I like to call a political hybrid. He is both an insider and the guy who serves and protects the insiders. Kind of like the Karl Rove of the federal reserve for Greenspan and Volker.
Over the 26 year period that Volker and Greenspan controlled the FED and ruled the world, they appointed, recommended, tutored several generations of analysts, bankers, policy wonks and economic theorists.
Timmy G. has served his time and was appointed to a plum position, President of the New York FED.
The President of the New York FED over-sees about 70% of the nation's banking activity. Timmy G. has over seen about 70% of the nation's banking disasters since 2003. He is only 47 and already a keeper of the keys. You really do get no further inside the power establishment than President of the New York FED. The next highest position is Chairman of the FED in my opinion.
Timmy G. was gently whispered into Obama's ear by his Financial advisors. Paul Volker being the guru of that role. None of this surprises me.
I'm telling all of you, there is something very dark here, and it centers on an un-holy cabal between Treasury, The FED, AIG, J.P. Morgan Chase bank, Citigroup, Bank of America and the Senate banking committee.
I am not suggesting black helicopter stuff here. I wish it were something that small/
I firmly believe the FED and Wall street banks want their man, Timmy G., to be the Treasury secretary at this point and time, to keep certain banking relationships secret and to help facilitate the beginning structure of a global banking co-operative.
President-elect Obama may be smart enough to understand the lower level fringe, but I doubt he understands the mechanics of how this really affects every man, woman and child on the planet.
The first time I saw Timmy G. give testimony before the Senate, it was like the first time i saw Valdimir Putin. I see nothing behind the man;s eyes. Zilch, zero, nothing.
The advisors to Obama know exactly what and who they want at this critical point in human history, as we are pushed further towards the goal of global nation-states.
I say this with conviction because I've followed all these people for so long
It is a good trade on Obama's part, in his own mind. He is allowed to remove his largest internal party threat, by appointing Hillary to head State, and the international bankers get their inside man at treasury.
Everyone inside gets exactly what they want.
Next column we travel deeper inside the “dark money” sloshing around this world.
Watch out Timmy, now that you're Treasury chief, you become prime target for critical thinking of FRN. We never rest.....
11.16.2008
“Words from the Several States” column 002
AIG is getting another $40 Billion from the FED and China introduces their own $600 Billion domestic stimulus package.
The China domestic stimulus package first.
This is cash by the way. When you run a country that has 9% to 12% growth in GDP annual, you can spend cash. Usually it's foreign cash that you are holding. Say U.S. Dollars.
China's cash stimulus package is centered around accelerating infrastructure and modernization projects, as more Chinese migrate from rural to coastal industrial living. China will see the upside on this $600 Billion through job programs, new skills being taught, improved infrastructure that will carry them mid-way through this century. I've said it before and I'll say it again, China has a plan. By the time China is done with all this infrastructure upgrades, their exports should rebound and they will see consistent 9% to 12% growth. A 9% annual bump in GDP. And that is a communist nation. Real quick, America could do the same, simply by eliminating capital gains tax.
This will allow China to keep on saving cash, extend lines of credit to other nations and use their export surplus to modernize their military and space industries.
Have I mentioned that China has a plan?
I pay very close attention to foreign policy surrounding China and the region.
AIG. I get a bad feeling here. Many millions of us probably do. $150 Billion, just like that. All of it in “OH MY GOSH” over night decisions. Even with the China element there is still something dark here.
My bet is several things are going on:
I think there are some deep personal relationships between AIG, Treasury and some folks in China. It may be months or years before newsletters like mine can bring that to surface, but trust me, we are looking.
Treasury knows that keeping AIG afloat is their key to Chinese credit. It seems almost every facet of foreign or economic policy has some level of Chinese consideration these last 10 years. Man, thats scares me.
and last, I think AIG has got a huge amount of insurance portfolios tied to a hedge fund and Treasury is deeply concerned about that. If Treasury is not concerned they should be. Pension, insurance, state bonds and oil futures invested in Hedge funds will be our next great bailout scenario.
Now lets take all that to the next level. Bush n crew are hosting the top 20 global economic players at an economic summit. I find this disturbing since Bush has about a C- average in economics. The meeting is being held as I type and will last less than a day. Sounds like a hug n kiss iss meeting and then they will have a more substantial meeting after Obama takes the oath.
If they all wanted to save the world from melt-down, they would agree to scrap the WTO and current trade deals and go back to straight tariffs.
The trans-national corporations and international banks would not like it, nor would the IMF, Federal Reserve or the Euro-central bank.
Tough.
The waning hours of a deeply failed presidency and he decides to host a summit where anything they truly discuss will be heaped out on us in two years as the “bright new idea.”
I don't trust this president or any of his advisors.
Now lets take it to the next level. The last five presidents have been nothing but disappointments.
Some will argue that Reagan brought down the Berlin wall. No! The 65% GDP spending done by the USSR on their military did that. Not to mention east Germans really wanted bananas.
The last four presidents have failed to be good people and their policies reflect that.
Though the oval office is very large, the people occupying it have grown very small.
No vision, no philosophy and no “Jeffersonian Liberal grasp” on the Constitution.
President-elect Obama has a chance to be different. 16 of his 19 person core transition team are former Clinton advisors and aids. Some change.
I see more AIGs and automotive bailouts. I see an endless army of U.S. Corporations sticking their hand out to the government and saying where is mine?
Lets take it one more level.
How far is down? A question you may be tired of me asking.
How far down will American leaders go, before we vote ourselves real leadership,
This president and the one about to take office, have literally become check writers and grocery clerks for corporate America.
That is how far down can be.
This column will get e-mailed to my local city government. I would ask you to do the same.
11.09.2008
“Words From The Several States” column 001
That is the new name for FRN Newsletter's weekly economic/political column. It is the nature of everything to evolve. I want the column to focus in on the core economics, politics and hard news of the day. Even if that means, as a small newsletter that i continue to drop in hard news that I have triple sourced myself. It all matters.
The 26 months of this extended Presidential race has left me searching for some higher political ground.
I remain bitterly disappointed that we have again, elected a candidate from the establishment party. This time we elected President elect Obama, from the left wing of that party. It marks the first time I've predicted a presidential contest wrong. I honestly thought the Rove/Schmidt machine would over-come young voters swinging for Obama. I was wrong. David Axelrod has come into his own, as one of America's truly great political consultants.
How depressing that we live in an age of mediocre candidates who hire very powerful and brilliant campaign advisors, to sway voters to the left wing or the right. Truly a process that needs to be purged.
I dare say that process starts right here, right now.
FOX news just referred to it as “The winds of change”
Thats nice and it sounds quaint.
Some real news. What follows has been triple sourced.
While all this kissing and hugging and heavy breathing, between the President-elect and liberal media coverage, some old turf wars have broken out in Congress. I Love this stuff. It is a testament to how far change really needs to go.
Representative John Dingell (D-Michigan) is battling with Henry Waxman (D-California) for who will control the CAFE and environmental legislation. This is a battle that has been at a cold war status since 1998. It has become hot again, now that Speaker Pelosi is sowing some oats and may strip it away and place it under the committee that Waxman chairs. Also that Waxman may be picked to chair energy/commerce and Dingell my have to be the number two on the committee he has controlled for so many years.
Dingell is lining up his supporters and Waxman is ringing up his cartel. Everyone inside the beltway is wondering if the President-elect will stick his nose into this committee turf war.
In the Senate and far more publicized, for reasons that I don't understand. Lieberman is battling with Majority leader Harry Reed. Reed wants to punish Lieberman and strip him of his domestic homeland security chair and put him as chair of veteran's affairs ( the hind end of chairmanships in the senate).
Lieberman, to his credit, essentially told Reed to go walk himself off a peer.
Those are the kind of beltway battles i like during a congressional overhaul.
A word of advice to the newly minted President-elect, stay out of this turf battle stuff. Don't even work it through back channels or using one of your staff to pass messages.
Better for America to watch Congress act like fools during this economic hardship, than to swing at a pitch in the dirt as a new president. Don't let yourself be dragged into congressional in fighting, which has no upside and makes you look small on the world stage for caring in the first place.
Why do I offer advice to a president-elect whom i hold in the same low regard as a former six-year lack luster governor of Texas?
Because i need him to focus.
I already know he picked a throat cutter like Congressman Emanuele, because he wants a strong arm to ram his socialist policies through Congress. I already Know Axelrod will accept a “special advisor to president” type position, so that Axelrod can manage an “Obama image” over the next four years. I already know Obama will use the Government as end all and be all to “solve” our economic woes.
But at the very least, I need Obama to not care what Congressional assignment goes to whom, so that he can focus on the far bigger role of commander n chief, in a world full of delicate and complex relationships, all going sour.
I need him focused so that when Colin Powell whispers the right answer ( the opposite of Biden's) in his ear; Obama will be clear headed enough to hear the former Secretary and retired general, and know “what” to do.
Why am i calling the column “Words from the Several States?”
“The Several States” is a phrase used quite often in the Constitution, to describe what powers are left to the states and to describe what the states have as responsibility to the people.
As an independent voter and political analyst who is a self-described “Jeffersonian Liberal.” I consider myself in political exile right now. America has elected a socialist, so I choose to use terminology from the days of when our scared document was written.
Everything does evolve, even during periods of extreme set-back, like the last 28 years of federal government history.
I choose the hard path for this Newsletter, the column and my work for restoring America to a gold standard. I choose the hard path because hard work means a solid foundation for building a re-birthed American idea.
True conservatism has lost this round, true constructionists must now step forward and begin the work.
The Presidential race is over and the headline newspapers are now available on ebay for $90 a pop ( that is what the New York Times November 5th edition was bringing in).
The path is lit and I ask you to take my hand, as we etch out a hopeful America, and not allow erosion during these dark times.
A matter of intellectual and economic consistency:
As a note here, I do not support any type of government bailout for the auto industry. The federal government needs to do the right thing here. Which is go back to straight tariffs, proper trade policies, eliminate capital gains taxes and eliminate the federal income tax. Those moves alone would save every industry in America, not just auto and auto suppliers. This stuff is not complicated. A bailout is just more debt and more of the same.
Everything evolves and it all matters.
11.02.2008
“People, Places and Things” column 029a
10/24 8:36pm
The “Person”: Dr. Alan Greenspan
The “Place”: Congressional hearing room
The “Thing”: Confessions of a fiat-money central banker
All of you may want to make sure the Dog has been let out, the stove is turned off and the kids are tucked in or playing video games for while.
I'm going to take my time, enjoy every key stroke of this column and tell you a story about Dr. Greenspan and his central banking “style.”
He will be referred to as “Dr. Greenspan” through this entire column, so that the reader may know this man holds a PHD in economics and is one of the world's three or four leading economic theorists.
Its a joke referenced in several previous columns, but here and now I give you the true meaning of Christmas and a guy named Dr. Greenspan.
I wish i had a dvd-cam, so I could tape all of this
Dr. Greenspan is the ultimate political turncoat, the global power broker, the ultimate central banker and responsible for creating this global banking crisis. He designed it, allowed it to grow and will now watch his offspring bring global banking socialism for all 6.4 billion people on this planet.
Now i know what you're thinking, what are Dr. Greenspan's bad points?
Dr. Greenspan got up there and said that he did not foresee this banking crisis.
Wait right there! You are the most powerful person on the planet for 18 years, as FED chairman, and you didn't see it coming. Dr. Greenspan thought the mortgage lenders would be more prudent in protecting their portfolios of loans.
No, not buying it. I've followed Dr. Greenspan's career since the mid 70's, i know what he knows, I lived through the global banking derivative market he created, and I'm not buying what he is selling.
It is now and always has been the natural order of how you consolidate power. You have a very small group of people controlling the political power, a very small group controlling the corporations (everyone sits on everyone else's board), and even a smaller group controlling the banks.
This has always been the way that nations and empires have maintained their power. Now it will be used to usher in a global banking and government cartel.
Very sad actually, Dr. Greenspan wrote an incredible essay back in the mid 60's about how the gold standard was the only safe haven for the citizenry and a free nation. The only way to protect against robber baron governments and inflation. Like i said the ultimate political turncoat.
Take a look at where we are right now, the bankers of the world are calling all the shots. All powerful leaders are following their advice, because they figure the bankers know what they are doing. That much i agree on, the bankers do know what they are doing to you and me.
Dr. Greenspan knew an un-regulated derivatives market would lead to a global financial system leveraged 17 times the actual GNP. Global economic GNP is $62 Trillion a year. There are 1000 trillion dollars in derivatives in the world markets, or approximately 17 times global GNP. No market place can sustain that level of leveraged buying, selling and debt-based currency. There must be one dollar in the market place for every dollar leveraged.
Where we are and how we got here so quickly, an overview:
The 1990's. Brought us an entire world switching to a technology based manufacturing and banking system. Banks start consolidating at the same rate as large corporations. Dr. Greenspan ushers in the derivatives market. With new computer technology, in the 90's, it became possible for a very small group of people to effectively manage the global banking system.
Dr. Greenspan keeps rates way to low, way to long, government spending spirals out of control and both political parties sit back and do nothing. Cowards. Yes you, both major political party leaders, cowards. Can you hear me?
If it had not been the mortgage and lending industry, it would've been another segment of the global market place. Dr. Greenspan sat back, and let these bad mortgage loans be sold as investment vehicles, as part of hedge funds around the world. He knew what would happen, if an economic downturn came, which it always will when you have debt-based currency. The Boom-Bust cycle is part of the definition of fiat money.
Then comes the bailout and the new system of powers delegated to government. Because only government and international bankers can now save the day.
You notice how quickly all the world wants to have this global economic summit, while the world's population is being scared to death by a complacent media?
10/25 7:36pm. The IMF has been touted at the recent Asian economic summit, to take the lead on bailing out nations in trouble. Bet you one federal reserve note this will be one of the talking points when world leaders descend on D.C. To discuss restructuring of global banks and credit policy. It would not surprise me, if after that meeting, the IMF was given authority to work “cooperatively” with central banks around the world.
Senator Kennedy is pushing hard, bringing the lobbyists together with politicians, to get the ground work done on national health care. Quick note here, Hawaii just stopped their socialized health-care for the 2000 children it was covering. The system was going bankrupt after only seven months. It seems one of the un-intended consequences was people were dumping their current coverage to get the government coverage. Everyone should take a deep breath and absorb this. Imagine how quickly our entire nation will go bankrupt with national health-care and more un-intended consequences. That is the problem with elitists, they never think people will stray from the socially engineered plans they lay down. Then when it happens and people do what people do, the elitists is left to say “Huh?” This would be reason number one why I am opposed to having anymore ivy league or establishment leaders for a few generations.
The Treasury dept. is now talking about taking partial ownership in selected insurance companies the way they did the nine largest banks three weeks ago.
ARE YOU SCARED YET?
Mid sized banks are buying each other, using the bailout money as down payment. Large banks are bottom feeding, buying up assets across the board. Word from inside DC is that up to 10% of the bailout money will go towards Wall Street bonuses, parachutes et-al. At some point doesn't this all sound like a very sad country-western song?
Hedge funds are selling stock like there is no tomorrow (in the dark money world of hedge funds, there is no tomorrow, only a margin call), because they want their assets in cash to cover their bottom line. I'll swing back around to the inherent global dangers of hedge funds later in the column.
A girl i know works at a credit union and she tells me people call in all day, asking if their money is safe. They are directed to the credit union president to answer the questions. She also told me a lady came in, who went to her bank earlier that day, and they would not let her take out $600 cash. Only $600! I do wonder exactly what corporate line that credit union president has been given, to calm the nerves of would be callers. Credit Unions usually have one large bank they do business with. I'll bet you one more worthless federal reserve note that credit union president's hands are tied and he or she just tells the customer “your money is safe.”
ARE YOU SCARED YET?
My predictions about state and local governments wanting the federal government to cover their bonds, is coming true in real time I'm sad to say.
GM wants Treasury to write them a $10 billion check so they can use it to buy parts of Chrysler. If I were Chrysler I'd feel like someone's second choice for a Tuesday night cheap date. GM even thinking of going to Toyota for some green. I believe I put that in my book. Nissan may step in and buy parts of Chrysler. GMAC wants Treasury and the FED to recognise and regulate it as a bank holding group.
Nations around the world have started monetizing their commodities in Euros, Yen and Chinese dollars. The thought being that the U.S. Dollar is going into complete bankruptcy and no one wants to stick around for the after glow party.
I see no realistic way, America can survive another round of federal government bailouts, without surrendering more freedom. It is truly mind numbing how much was taken from us in the last five weeks. It is a very straight line of cause and effect. Anytime you allow any government authority more power over anything, you give up a little more freedom.
Dr. Greenspan said “ooops.”
I could do this all night, but I believe this here, gives a thumb nail impression. I could do this day and night. There is simply no way to fully convey the global debt structure that Dr. Greenspan has laid upon the world and now sits their on the hill and says “ooops.”
I studied political science and economic theory for three years in college. Before that however, I studied engineering and architecture in high school and my first two years in college,
I think every student majoring in economics should be required to take a basic architecture and engineering course.
In classes like that, you learn about pressures, elasticity, freezing points, melting points, R-factors of heat reflection and the properties of materials you are working with. You learn when something will bend and break. You learn this because when you design a “load bearing wall” for a three story building, man your figures need to be perfect. There is zero margin for error.
I absorb everything Dr. Greenspan did as FED chairman, and how it affects the world's “hydraulics and pressure points.”
I apply engineering principles to what is happening on every level in this global economic mess. Imagine my surprise when I bought 10W / 40 oil today and the price per quart was nearly double what it was last year. Thats the futures speculators and Hedge funds at work for you.
Dr. Greenspan knows all of this, yet he had enough gumption to go up the hill and say “ooops.”
Back to hedge funds. The truly sinister world of “dark money.”
An ex-CIA agent is hawking a new book, involving shifting middle eastern policy and shifting power. This guy is a real authority on Iran and I've come to trust his judgment and critical thinking over the last five years.
One “plan” Iran has for causing global chaos, involves setting off a nuclear device that would destroy huge refinery platforms in the middle east. My best guess would be one of the main refineries in Saudi Arabia.
Such an attack would cause global collapse of middle eastern oil supply, and cause an economic mushroom could for the hedge funds that control oil futures. In fact that is the real target, to instantly devalue those hedge funds. This would cause an economic collapse in America. It would bring Iran to the for front as a global power and truly bring us closer to a “Blade Runner” society of fighting for scraps in the streets.
I wonder If Senator Obama has any pre-packaged sound bites on that scenario.
That is the danger level of the world we live in.
I mention this one Iranian threat here, because it crystallizes the need for action and participation in a political process, so that our leaders do something. I hope the NSA and CIA are modeling response scenarios for such a situation.
I wonder, since he has top secret clearance, if Dr, Greenspan considers and considered such perils, as he was allowing derivatives and hedge funds to borrow and borrow and leverage and spend and create an un-sustainable level of global debt.
My guess is Dr, Greenspan did not consider this real world scenario. My guess is he wouldn't care about un-intended consequences to little people if he did. he did.
10/26 7:15pm
I think what has been lost in all of this is the context of power. I bring this up as a recap from many previous FED columns. There are twelve people who make up up the FOMC, the decision making body of the federal reserve.
Put that into context. Think about how many people it takes to manage and supervise the company you work for. The power to control the world's banking system, in the hands of twelve people, with the FED chairman calling most of the shots.
Set aside for a second, that the federal reserve in not constitutional, think about only twelve people with all that power.
11/02 8:06am
This is why i am so fearful of Senator Obama becoming President. Former FED chairman Paul Volker has endorsed this junior senator. I think someone with the global influence of Paul Volker endorses someone like Obama, because he knows Obama will be on-board with whatever global-banking-economic structure Paul Volker-Alan Greenspan n friends have brewing.
This is not black helicopter stuff, this is right here, right now, ripped from the headlines.
10.26.2008
“People, Places and Things” column 028a
Random Thoughts from inside my little brain and out into the big bad world. And all of it, for the price of a paper-clip.
Speaking of paper clips, I like the kind that have the little grooves cut into them, so they grab the paper real good. I have a lot of paper clips in my office/computer room. Which is strange now that I think of it, since almost everything i do is online, saved on a floppy or disk. Weird, huh?
I have a rust spot I was repairing on one side of my truck. The other side, exact same spot is completely fine. I hate that.
We are now only three weeks away from the new James Bond movie. I hoping there is a long set-up to that one trailer line “MI-6 says he is nearly un-controllable.” Is that a cool line or what???
Since you are movie-geeking with me right now, if you go to yahoo movies, they have photos for the new Starr Trek movie due for May 2009 release. We will stop the column here for several minutes, because i know you feel the over-whelming urge to click on those pictures. Please, take your time . . .
That was great, wasn't it?
I am not a huge football fan, but do try and follow my Detroit Lions; as painful as that can be at times. Today they were losing to the Houston Texans ( 6 season expansion team). Come on guys.
Two weeks until my 41st birthday. I miss my twin sister, Carla Frances. She died of mental illness when she was 39. I don't talk about it much and don't know why i mention it now. Random thoughts are just that gladly sacrifice 20 years off my life, if I could spend this birthday with my twin sister, have her here so we could hit the Old Country buffet in Southgate.
Random Thoughts on the Powell endorsement of Senator Obama.
This is big, huge, a monster. Big enough that I am breaking my general rule, and writing about the election again. I have many thoughts on this topic. I have been following Secretary Powell's career ever since President Carter pulled him out of relative obscurity at the pentagon, back in the late 70's. Sec. Powell to me is truly a transcendent American leader. The only American leader left, who's international reputation precedes that of himself, any president or cabinet officer. Colin Powell is larger than life, more popular by far, than President Clinton. With the possible exception of Henry Kissinger, no American understands the entire world better than Powell. Which is why he should've been Secretary of State for a President who respects the very complex affairs of foreign diplomacy. Instead he got tapped to serve George W., whose understanding of foreign policy is that of Taco Bell being considered top notch Mexican food.
If Powell would've formed an independent party with say Mayor Bloomberg, then this entire presidential race would have been finished two weeks after the conventions.
Let me toss these out there:
My inner core tells me that Powell is still a true Jeffersonian Liberal or a Madisonian conservative. I think Powell is looking at the whole global picture and thinking what will it take to force the republican party back to real honest Lincoln styled conservatism. Powell probably foresees American politics stuck in the mud for another four decades if a lack-luster moderate like McCain wins. Then Palin loses and liberals get back in, and so forth and so on. You can write this narrative just by looking at the last 40 years of American political down slide. Powell is looking beyond all that and thinking he will burn down the village of the current republican despots and deliver unto America a re-birthed party, after four years of near death socialism, Obama style. Powell knows the world will crumble over the next four years, economically at home and foreign policy abroad. Maybe Powell is the only conservative in America of singular stature, to force one party back to it's roots by scaring the life out of them. Which is why he would wait until his endorsement would have maximum damage on McCain. It also forces the Democratic party, in four years to return to the party of Jefferson.
Second angle. Powell fell on his sword for Bush, when he was ordered to go sell the Iraq war to the U.N. Security council. Even the most principled man would be wanting some payback, after doing such a thing. Especially since Powell knew the Intel gathered was not worthy to make the WMD case. Powell should want to stick it to Bush, Cheney, Rumsfeld and Rice. All of them combined are not 1/100th the public servant that Powell was and still is.
Third: I take Senator Obama at his word, that he would want Powell to serve in some kind of un-official advisory position. A cabinet position is to small for Powell at this point. Powell, if Obama would be so lucky, needs to feel free to come and go at the white house and roam the world for that matter, advising the junior senator from Illinois.
Fourth, McCain should take comfort. This endorsement shows how weak Obama really is on everything. If Obama were a real global transformational leader, then he wouldn't be playing Chicago thuggery politics and slamming Joe the plumber.
Finally: There are many stunned republicans and conservatives in America this week. All wondering as I have, many are pretty mad. Powell is counting on that, to make sure they are the new foot soldiers in this “Powell philosophical Army” to rid the party of robber barons and demagogues, starting with his last boss.
I'm putting my trust in General Powell's hands, that he will see this nation through a period of real darkness. Real generals, like real leaders, never retire.
10.16.2008
“People, Places and Things” column 027c
I am a huge critic of nearly every aspect of the Federal government.
WOW! ! ! really knocked my readers over with that revelation . . .
Yes, I firmly believe 80% of what DC is doing should be returned to the states or to the people.
I set it up like that, because i want to give credit when government does something positive, such as facilitate the opening of actual dialog. Especially when it involves our biggest problem, the federal reserve.
A staffer in one of Senator Debbie Stabenow's Michigan offices, returned my call.
She gave me the bill number HR 2755, introduced by Texas Congressman Ron Paul. It is a Federal Reserve abolition bill. I expect nothing less from Rep. Paul, who has been my hero, mentor and champion of this issue for over 25 years.
I knew the bill was out there, but never had the bill number. I have attached it with this column, so that we may all share in spreading it around, for discussion.
This bill is exactly what we need to help with the National Plan of Action, i propose.
Many detractors think such a national referendum is a waste of time and cannot force Congress to uphold their oaths.
Rep. Paul's four page bill lays out an explicit road-map for how the federal reserve board and federal reserve banks can wrap up their affairs in 18 months. Plenty of time during that period to start phasing in silver and gold certificates, as actual legal U.S. Currency.
I read the entire bill in under 10 minutes.
Give yourself that one hour a month four participation. Contact your congressional delegation and ask them to support H R 2755. Short and sweet.
But enough of me tapping on the keyboard, here it is cut n pasted for you:
I
110TH CONGRESS
1ST SESSION H. R. 2755
To abolish the Board of Governors of the Federal Reserve System and
the Federal reserve banks, to repeal the Federal Reserve Act, and for
other purposes.
IN THE HOUSE OF REPRESENTATIVES
JUNE 15, 2007
Mr. PAUL introduced the following bill; which was referred to the Committee
on Financial Services
A BILL
To abolish the Board of Governors of the Federal Reserve
System and the Federal reserve banks, to repeal the
Federal Reserve Act, and for other purposes.
Be it enacted by the Senate and House of Representative
tives of the United States of America in Congress assembled, 2
SECTION 1. SHORT TITLE. 3
This Act may be cited as the ‘‘Federal Reserve Board 4
Abolition Act’’. 5
SEC. 2. FEDERAL RESERVE BOARD ABOLISHED. 6
(a) IN GENERAL.—Effective at the end of the 1-year 7
period beginning on the date of the enactment of this Act, 8
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2
•HR 2755 IH
the Board of Governors of the Federal Reserve System 1
and each Federal reserve bank are hereby abolished. 2
(b) REPEAL OF FEDERAL RESERVE ACT.—Effective 3
at the end of the 1-year period beginning on the date of 4
the enactment of this Act, the Federal Reserve Act is here- 5
by repealed. 6
(c) DISPOSITION OF AFFAIRS.— 7
(1) MANAGEMENT DURING DISSOLUTION PE- 8
RIOD.—During the 1-year period referred to in sub- 9
section (a), the Chairman of the Board of Governors 10
of the Federal Reserve System— 11
(A) shall, for the sole purpose of winding 12
up the affairs of the Board of Governors of the 13
Federal Reserve System and the Federal re- 14
serve banks— 15
(i) manage the employees of the 16
Board and each such bank and provide for 17
the payment of compensation and benefits 18
of any such employee which accrue before 19
the position of such employee is abolished; 20
and 21
(ii) manage the assets and liabilities 22
of the Board and each such bank until 23
such assets and liabilities are liquidated or 24
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3
•HR 2755 IH
assumed by the Secretary of the Treasury 1
in accordance with this subsection; and 2
(B) may take such other action as may be 3
necessary, subject to the approval of the Sec- 4
retary of the Treasury, to wind up the affairs 5
of the Board and the Federal reserve banks. 6
(2) LIQUIDATION OF ASSETS.— 7
(A) IN GENERAL.—The Director of the Of- 8
fice of Management and Budget shall liquidate 9
all assets of the Board and the Federal reserve 10
banks in an orderly manner so as to achieve as 11
expeditious a liquidation as may be practical 12
while maximizing the return to the Treasury. 13
(B) TRANSFER TO TREASURY.—After sat- 14
isfying all claims against the Board and any 15
Federal reserve bank which are accepted by the 16
Director of the Office of Management and 17
Budget and redeeming the stock of such banks, 18
the net proceeds of the liquidation under sub- 19
paragraph (A) shall be transferred to the Sec- 20
retary of the Treasury and deposited in the 21
General Fund of the Treasury. 22
(3) ASSUMPTION OF LIABILITIES.—All out- 23
standing liabilities of the Board of Governors of the 24
Federal Reserve System and the Federal reserve 25
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4
•HR 2755 IH
banks at the time such entities are abolished, includ- 1
ing any liability for retirement and other benefits for 2
former officers and employees of the Board or any 3
such bank in accordance with employee retirement 4
and benefit programs of the Board and any such 5
bank, shall become the liability of the Secretary of 6
the Treasury and shall be paid from amounts depos- 7
ited in the general fund pursuant to paragraph (2) 8
which are hereby appropriated for such purpose 9
until all such liabilities are satisfied. 10
(d) REPORT.—At the end of the 18-month period be- 11
ginning on the date of the enactment of this Act, the Sec- 12
retary of the Treasury and the Director of the Office of 13
Management and Budget shall submit a joint report to 14
the Congress containing a detailed description of the ac- 15
tions taken to implement this Act and any actions or 16
issues relating to such implementation that remain 17
uncompleted or unresolved as of the date of the report. 18
Æ
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I
110
TH CONGRESS1
ST SESSION H. R. 2755To abolish the Board of Governors of the Federal Reserve System and
the Federal reserve banks, to repeal the Federal Reserve Act, and for
other purposes.
IN THE HOUSE OF REPRESENTATIVES
J
UNE 15, 2007Mr. P
AUL introduced the following bill; which was referred to the Committeeon Financial Services
A BILL
To abolish the Board of Governors of the Federal Reserve
System and the Federal reserve banks, to repeal the
Federal Reserve Act, and for other purposes.
Be it enacted by the Senate and House of Representa-
1tives of the United States of America in Congress assembled,
2SECTION 1. SHORT TITLE.
3This Act may be cited as the ‘‘Federal Reserve Board
4Abolition Act’’.
5SEC. 2. FEDERAL RESERVE BOARD ABOLISHED.
6(a) I
N GENERAL.—Effective at the end of the 1-year 7period beginning on the date of the enactment of this Act,
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•
HR 2755 IHthe Board of Governors of the Federal Reserve System
1and each Federal reserve bank are hereby abolished.
2(b) R
EPEAL OF FEDERAL RESERVE ACT.—Effective 3at the end of the 1-year period beginning on the date of
4the enactment of this Act, the Federal Reserve Act is here-
5by repealed.
6(c) D
ISPOSITION OF AFFAIRS.— 7(1) M
ANAGEMENT DURING DISSOLUTION PE- 8RIOD
.—During the 1-year period referred to in sub- 9section (a), the Chairman of the Board of Governors
10of the Federal Reserve System—
11(A) shall, for the sole purpose of winding
12up the affairs of the Board of Governors of the
13Federal Reserve System and the Federal re-
14serve banks—
15(i) manage the employees of the
16Board and each such bank and provide for
17the payment of compensation and benefits
18of any such employee which accrue before
19the position of such employee is abolished;
20and
21(ii) manage the assets and liabilities
22of the Board and each such bank until
23such assets and liabilities are liquidated or
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•
HR 2755 IHassumed by the Secretary of the Treasury
1in accordance with this subsection; and
2(B) may take such other action as may be
3necessary, subject to the approval of the Sec-
4retary of the Treasury, to wind up the affairs
5of the Board and the Federal reserve banks.
6(2) L
IQUIDATION OF ASSETS.— 7(A) I
N GENERAL.—The Director of the Of- 8fice of Management and Budget shall liquidate
9all assets of the Board and the Federal reserve
10banks in an orderly manner so as to achieve as
11expeditious a liquidation as may be practical
12while maximizing the return to the Treasury.
13(B) T
RANSFER TO TREASURY.—After sat- 14isfying all claims against the Board and any
15Federal reserve bank which are accepted by the
16Director of the Office of Management and
17Budget and redeeming the stock of such banks,
18the net proceeds of the liquidation under sub-
19paragraph (A) shall be transferred to the Sec-
20retary of the Treasury and deposited in the
21General Fund of the Treasury.
22(3) A
SSUMPTION OF LIABILITIES.—All out- 23standing liabilities of the Board of Governors of the
24Federal Reserve System and the Federal reserve
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•
HR 2755 IHbanks at the time such entities are abolished, includ-
1ing any liability for retirement and other benefits for
2former officers and employees of the Board or any
3such bank in accordance with employee retirement
4and benefit programs of the Board and any such
5bank, shall become the liability of the Secretary of
6the Treasury and shall be paid from amounts depos-
7ited in the general fund pursuant to paragraph (2)
8which are hereby appropriated for such purpose
9until all such liabilities are satisfied.
10(d) R
EPORT.—At the end of the 18-month period be- 11ginning on the date of the enactment of this Act, the Sec-
12retary of the Treasury and the Director of the Office of
13Management and Budget shall submit a joint report to
14the Congress containing a detailed description of the ac-
15tions taken to implement this Act and any actions or
16issues relating to such implementation that remain
17uncompleted or unresolved as of the date of the report.
18Æ
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“People, Places and Things” column 026b
10/10/08 11:43pm
I'll start with these two thoughts:
I could quit my job this minute and do nothing but update my newsletter website and write economic columns, and i would still be way behind the curve.
How far is down?
I am mystified that only seven days have passed since President Bush signed HR 1424 into law. Better know as “TARP.”
I plan on reading every page of it over the next few months. I want to be the only independent economic theorist who does, so I can be sure I fully understand the TARP that has now become America's economic road-map.
As of right now, I've read a good 80 pages, enough to see the huge power grab that has taken place. The $850 Billion is just a nice payoff for certain troubled assets of certain troubled banks. By the way, there are 8500 small banks in America that were not involved with these complex financial vehicles and derivatives. But TARP is not about that, its about taking care of a select few banks, just like the federal reserve wants things done. This entire situation shows how certain large banks are protected by the FED and government and the rest of the country be dammed.
Effectively inside of three weeks we have allowed the federal government to socialize the mortgage and banking industries.
The most important and under reported part of TARP, is the section giving authority to the Treasury secretary to buy shares in any bank and hold them for whatever period of time deemed necessary. Yes there is an over-sight board, but trust me, when you read and see who comprises that board, it will be a rubber stamp process.
G-7 leaders and finance ministers are meeting as i write. Discussing which components of which banks they “cooperatively” want to buy up. As the IMF and World Bank presidents talk about working through a global recession “cooperatively.”
Folks, the amount of debt-based worthless currency that has been created so far, will cause hyper inflation. We will pay for all of this three times, the initial bailout cost, then through inflation and then through interest payments back to the federal reserve. This bailout is like adding gasoline to a house fire. The economists on CNN, NBC, ABC, MSNBC, etc., know this, they know I know this. They also know the root cause is debt-based currency. Debt-based currency has an intrinsic value of ZERO, and only gains “value” through government authority. ALL debt-based currency will eventually return to zero value. You cannot change the nature of debt-based currency. Something either has value or is does not. Gold, Silver, Platinum, Labor all have intrinsic value. They always have and they always will. You cannot change the nature of something that has value.
I have been waiting for one of these really smart ivy league economists to come on TV and say this. But they won't. That is not fine with me, but I'm beginning to see that FRN Newsletter and hundreds of other small economic newsletters will need to do the heavy lifting on this issue of debt-based currency.
Those ivy league economists also know a gold/silver standard is the real solution, but it would force the FED and federal government to give up their control of our free-market system and put it back in the hands of regular people. Imagine 1% inflation every ten years under a gold/silver standard, instead of 10% to 12% per year like we have right now..
So ask yourself, what benefits you more when shopping, buying groceries and filling the gas tank. Using lawful U.S. Money, backed gold and silver, that retains its value or worthless federal reserve notes that cost you buying power every second of every day?
It happened just like this in Czarist Russia, when the Bolsheviks took power. Quietly, without guns and ammo. By force of will alone.
Now there i go again. Comparing what is happening in modern day America, to a past example of when socialism began in another part of the world.
Economists on TV don't want to call it that. The federal government will probably take my house away for writing such things and accuse me of being against the norm for suggesting it in the first place.
Another point of history, we already tried all of these “fixes” before the great depression. The only difference is now we're doing it world wide.
By The Way, just so everyone is on the same page as to how real, and how dangerous this government power grab is. I received a letter from Treasury several days ago, about a possibly levy against my house.
Do I have your attention now?
Protection for real “Political speech” is all but dead in America, and we are heavily watched without knowing it. I can make that clear and present statement now, because i have an actual letter from Treasury to back up my words. And I am just a small time guy with a little website. They're not taking my house and they are not shutting me up. The Federal Reserve is un-constitutional and it must go.
I wonder how many people will stand by my side now. Or will Americans run for their houses, close the door, pull the drapes and just hope they won't be next, as their neighbors are taken away.
I knew this day would come, and I am afraid for our freedom.
How far is down? This does not refer to the Dow Jones Industrial average, but to how far will we allow our freedoms to whittled away in back rooms of federal government offices.
I have a good mind to send copies of this column and the Treasury letter to my Senators and Representative. Do you think they will lift a finger to help a citizen who is being targeted for political purposes?
Do I have your attention now?
The bailout will do nothing to stop the mortgage crisis. I think everyone already knows that. There will still be foreclosures and America will suffer severe economic times for seven to nine more years. According to my numbers.
Saturday, October 11, 2008. The G-7 will issue something of the following. They will be a general agreement to buy, partially buy or guarantee directly, major banks around the world. It will be done cooperatively. They may even decide to set up some kind of international oversight board to handle this cooperative global rescue, which is of course designed to make us all feel safe and thank the world leaders for doing it. Can you feel the Constitution being whittled further away?
Many times over the last 25 years or so, I've over heard some refer jokingly to me as one of “those people.” The ones others laugh at, because we think the government is conspiring against freedom.
I don't think the government is conspiring to take our freedoms away. I don't believe that and i never have.
Why does the government need to conspire? They just simply pass laws, written by lobbyists and lawyers, that gives more power to the government and a select group of banks and corporations.
I have been trying very hard the last three years to get my latest legislative proposal reviewed by Congress, the White House and Treasury. I guess i got my answer.
I get to write these things because i truly believe it is time to sound an alarm.
It is the perfect way to do a huge power grab. The economy has been tanking for 18 months, secretary Paulsen was working on this bailout bill several months ago, and we have a Presidential race happening.
Well, I will be sending this column out, along with my National Plan of Action, for restoring America to a gold/silver standard.
I don't do this for money, fame or glory. I do it because someone has to start something somewhere, if we are to return all of America's freedom.
I really am afraid of this levy on my house, I've never been here before, looking over my shoulder. It really is different when you have a letter stating their intentions.
You see this time, the powers that be are not just interested in one nation. They will surely use the current global credit crisis to slowly move us toward accepting a global currency. As I have mentioned in previous columns, the United Nations already has the plates on file, its called the Bancor note. They've has these plates ready to go for over 25 years.
This is not Black helicopter stuff. This is real-time and right here.
This changes nothing, it stops nothing. I haven't come this far, to do my small part for American freedom, to be scared into silence.
I'll continue to work hard and stand by you, if you will all do your small part and stand together with me. Nothing can stoop a citizenry united.
I wonder if my particular situation will be noticed by the main-stream mush media? Probably not, they're busy spinning the election coverage in 14 different directions.
Like i said, its different when you have a letter to back all this up.
I guess this is all very different for all of you as well. Now its not just a story on TV or Radio news, about someone who was leaned on by dark government officials. Now its actually someone you know. My eyesight may not be very good, but I sure know how to read the words “lien on your house.”
Anyways, i kind of broke a rule of journalism, by using my own horror story to prove just where America stands, but I can only write the truth There are elements of this column that people will think i went to far in my characterization of what is happening to America. No. The definition of socialism does not change over the centuries. I see a “BLade Runner” society coming into fruition.
Do I have your attention now?
One hour a month folks, pass it along. Please keep this national movement going. At the end of the day there is no substitute for citizen participation.
10.05.2008
“People, Places and Things” Column 026
“Conservative philosophy trumps Liberal elitism”
My final thoughts on the 2008 prez-wannabe race. I want to throw out for discussion the much larger premise, regarding the war in America. The war for seeing the Constitution restored verses dark forces who seek an America divided.
There in lies the crucible. Conservative belief structure is centered around individuals united behind the idea that a limited republic requires action, responsibility and one person saying to another “You are my brother and I stand behind you, beside you but will never stand in your way.” Conservative beliefs recognize America is an unfinished idea, craving the inclusion of all seeking to complete that idea and reap the bounty of it's fruition.
Liberal elitism stands above society, looking down into a nation divided into “groups.”
Liberals do not like individuals because in an elitist mindset, the individual holds no power. Only groups matter, because a group can be rallied, angered, exploited and used as foot soldiers to promoted narrow interests of the elitist. Liberal Elitists have goals to see America made into their particular image. Liberals believe a society should be engineered and conformed for our own good. Liberal elitism never even allows for the consideration that an individual may have an idea. An idea on anything, that may shed light on a theory or scenario that runs contrary to what the elitist has laid down as engineered dogmatic truth.
On almost every level, liberal elitism is far more hideous than communism, socialism and fascism. Those three political theories are upfront and brutally honest about how a society should be ordered under a central government. Liberal elitist will gladly use the aspects, perceptions and tools of those three systems to their endgame, but will look you right in the face and tell you “its all for the common good.”
What fuels the fire of this commentary are the latest rounds of homeless voter registrations now in full swing. Liberals are rounding up homeless, driving them to shelters, registering them, shoving democratic ballots in their faces, and then dumping them back onto the street. You can set your watch to how precise and accurate liberal elitists are at “pimping out the homeless.”
This is not a difference of a hand-up verses and handout. The difference in these political theories is far greater. Liberal elitism believes in creating theories, study groups, plans, doctrines and marshaling groups to shoe horn their very souls into the cookie cutter of pre-programmed social die-cast.
Conservative philosophy is far to busy allowing the individual to grow and evolve within a free America, to worry about cookie cutters, die-casting and labeling of a “problem”, so a “government funded solution” can be hammered in to place.
Conservatism places no limits on individual success and celebrates your ability to achieve any dream. Liberal elitism sits around talking about ways to solve problems and finding a government program that will increase the problem.
The Democratic Party used to be the party of Jefferson, but it has been hijacked by ideologues who refuse to see beyond the next government grant and will not birth the dream, of a society united.
The GOP used to be the party of Lincoln, but was to hijacked, by robber barons and ideologues of their own.
I see no hope for the Democratic party future, as they further become torn us-under into empty spheres of blameless conditions, exacting zero atonement for failed policies and demanding we accept Chicago style thuggery as the “agent of Change.”
I see a small ray of light coming from the Republican party inner core, in the form of a 44 year old Alaskan governor. I woman who got involved because her kid's school was broken and she wanted to do something about it. She didn't want or need a liberal elitist to tell her this or how to swindle money from millions of taxpayers. She jumped in and fixed it herself.
Liberal elitism builds huge temples to shelter society from one harmless raindrop. Conservatism grabs an umbrella in the worst of storms and heads off to work.
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Contact: Christopher J. Dardzinski , Publisher & Political Analyst
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“ You Cannot Stop the Idea Who's Time is Now ! “
09.29.2008
“People, Places and Things” Column 025 (I hit “delete twice this time)
Anytime you have lobbyists, Treasury, Wall Street, Congress, the president and federal reserve all working together; you can bet your last worthless dollar, that it will become law.
They are calling it “TARP” and I have a link on my “Columns OP/ED” page.
This Trillion dollar bailout will happen, so lets talk about the next big thing that will destroy more of America's free-market.
I think it will be local/county/state government bonds, pension funds or Bank of America that will be the next big bailout the federal reserve and federal government will try to heap on our backs. This will happen in the next five to eight years. If it is Bank of America it may cost $1.2 Trillion alone. Out of the three scenarios I'm listing, bailing out Bank of America is by far the cheapest. It would de-base our currency (de-value) by 4% over night.
Are you scared yet?
I see America in 12 years with our dollar completely debased after the next big bailout. I see the Euro, Yen or some combination thereof being the new benchmark of fluctuating interest rates.
I see $2 loaf of bread at $4, I see fist fights in gas lines.
Remember the “Hoovervilles?” For those of you to young, please google it.
We are already there now. A city of RV's and campers is in the south west, people displaced and mobile, living day to day, looking for jobs.
Are you scared yet?
I see Kroger's, Farmer Jacks and other grocery stores getting broken into for the food and water, not the cash.
I see pawn shops making a killing. I see real inflation going over 12% a year. I see federal deficits over $500 Billion (all funded by even more debt, and so forth and so on).
Are you scared yet?
No, I'm not a skipping record player or CD player for you younger readers.
I see Talk about Americans standing in long lines to buy groceries and wondering how the hell they can make the next mortgage note or rent payment. I see gas at $5 a gallon and i see that one happening very soon.
The people that put our Constitution together were not dumb. They saw almost everything that was NOT working and made sure it was kept out of the new Constitution for the brand new United States.
They had seen how inflation with a debt-based currency had caused havoc everywhere it was used during the revolution. When they voted to strike the words “emit bills of credit” from the text, and stick with a gold/silver backed money system; they knew it was the only way for a nation to be free and have sound money.
Are you willing to spend one hour a month, to stop this madness of debt-based dollars?
This current bailout does nothing to solve the problem, it only contains the current situation.
Ridding ourselves of the federal reserve and worthless money, is our only hope. It is why i write this column, why I promote a national dialog with my website and why I've written my books.
I do this not to become wealthy off my books. I fight this fight because the FED has broken this nation in two and i will not sit back and let it happen any longer. I will not sit around waiting for someone else to do what must be done.
I know why people tend to not get involved in this issue. Its to big, the government should handle it, how can i make a difference?, I don't have time, i don't understand it, etc.
The government will never eliminate the FED and go back to a gold standard unless we the people make them adhere to their Constitutional obligations.
Give me one hour a month on this. . . .
Click on my website, read my “National Plan of Action” Get the five signatures after you print the petition page and mail them into me.
Then tell all your friends to do the same, e-mail my national plan of action to everyone you know.
Then once a month, call your Senators, Representative, state officials, local officials and tell them to support my plan and tell them to support a new gold/silver standard.
Then do the same thing next month. Just one hour.
Constant pressure on our officials, while gathering signatures nationwide for a petition to send to Congress.
If everyone does just an hour a month, we can get this done.
Just set aside that one hour, say right after you write out your mortgage or rent payment. Let it be your constant reminder, as your buying power shrinks, due to the FED and their cronies.
If we keep doing what we've always done, which is elect leaders who promise change, then we will never see change.
I asked you if you were scared, beca