Please share this with your friends. You would of course call the police if you were being robbed, wouldn't you? Right now, there is an argument going on in this country that the rich are robbing you because they just won't "pay their fair share." But is that really who is robbing you? After watching and reading below, you will understand that the answer to that question is clearly 'no'. So, who is the real villain here? Who is playing the part of Mr. Potter?? You will find out the answer tonight. And you do not want to miss today's show 04.22.11... a Glenn Beck special event: "The Final Chapter"
Video: Is Bernanke Mr. Potter?
THE ONLY PART YOU NEED TO SEE: "United States Federal Reserve Board Chairman Ben Bernanke noted that economic indicators did not adequately capture the economy in relation to the Earth’s natural systems. “This is like flying a very large airplane with no map,” he said. Societies had already exceeded planetary boundaries in terms of climate, biodiversity laws and overproduction of nitrogen. A “de-growth” agenda was essential. “We have to get discourse about de-growing the economy going, especially in North America,” he insisted. The sustainable development discourse should be grounded in the Earth Charter, a document developed over a decade of...
Ben Bernanke: GLOBALIST TRAITOR - Yet the Obama administration has started running ads to defend this guy?!? - Think about!
Geithner has approved plans for IMF to absorb the Fed??
The con of the decade (Part I) involves the transfer of private debt to the public (the marks), who then pays interest forever to the con artists.
I’ve laid out the Con of the Decade (Part I) in outline form:
1. Enable trillions of dollars in mortgages guaranteed to default by packaging unlimited quantities of them into mortgage-backed securities (MBS), creating umlimited demand for fraudulently originated loans.
2. Sell these MBS as “safe” to credulous investors, institutions, town councils in Norway, etc., i.e. “the bezzle” on a global scale.
3. Make huge “side bets” against these doomed mortgages so when they default then the short-side bets generate billions in profits.
4. Leverage each $1 of actual capital into $100 of high-risk bets.
5. Hide the utterly fraudulent bets offshore and/or off-balance sheet (not that the regulators you had muzzled would have noticed anyway).
6. When the longside bets go bad, transfer hundreds of billions of dollars in Federal guarantees, bailouts and backstops into the private hands which made the risky bets, either via direct payments or via proxies like AIG. Enable these private Power Elites to borrow hundreds of billions more from the Treasury/Fed at zero interest.
7. Deposit these funds at the Federal Reserve, where they earn 3-4%. Reap billions in guaranteed income by borrowing Federal money for free and getting paid interest by the Fed.
8. As profits pile up, start buying boatloads of short-term U.S. Treasuries. Now the taxpayers who absorbed the trillions in private losses and who transferred trillions in subsidies, backstops, guarantees, bailouts and loans to private banks and corporations, are now paying interest on the Treasuries their own money purchased for the banks/corporations.
9. Slowly acquire trillions of dollars in Treasuries–not difficult to do as the Federal government is borrowing $1.5 trillion a year.
10. Stop buying Treasuries and dump a boatload onto the market, forcing interest rates to rise as supply of new T-Bills exceeds demand (at least temporarily). Repeat as necessary to double and then triple interest rates paid on Treasuries.
11. Buy hundreds of billions in long-term Treasuries at high rates of interest. As interest rates rise, interest payments dwarf all other Federal spending, forcing extreme cuts in all other government spending.
12. Enjoy the hundreds of billions of dollars in interest payments being paid by taxpayers on Treasuries that were purchased with their money but which are safely in private hands.
Since the Federal government could potentially inflate away these trillions in Treasuries, buy enough elected officials to force austerity so inflation remains tame. In essence, these private banks and corporations now own the revenue stream of the Federal government and its taxpayers. Neat con, and the marks will never understand how “saving our financial system” led to their servitude to the very interests they bailed out.
The circle is now complete: in “saving our financial system,” the public borrowed trillions and transferred the money to private Power Elites, who then buy the public debt with the money swindled out of the taxpayer. Then the taxpayers transfer more wealth every year to the Power Elites/Plutocracy in the form of interest on the Treasury debt. The Power Elites will own the debt that was taken on to bail them out of bad private bets: this is the culmination of privatized gains, socialized risk.
In effect, it’s a Third World/colonial scam on a gigantic scale: plunder the public treasury, then buy the debt which was borrowed and transferred to your pockets. You are buying the country with money you borrowed from its taxpayers. No despot could do better.
I would like to acknowledge Allan Dover and B.C. of Imperial Economics for helping to clarify my thinking on these topics
http://www.oftwominds.com/blogjuly10/con-of-decade07-10.html
The Con of the Decade – Part II
Soros’ Bretton Woods Accelerates Push for Global Economy
Wake up Critics… Here’s Obama’s Grand Plan
And this is How the Republic Will End
It's a Wonderful Life (60th Anniversary Edition) - Worth the watch if you haven’t seen it in awhile… or perhaps ever!!
h/t to the DailyBeck.com
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