Greg Palast: A Memo that Confirmed Every Conspiracy Freak's Fantasy

We Are Change

In this video Luke Rudkowski interviews investigative journalist Greg Palast about the secret memo he uncovered. The End Game memo uncovered how top US Treasury officials secretly conspired with a small cabal of banker big-shots to benefit themselves. The memo indicates high level politicians like Larry Summers, who is most likely going to be appointed the next chairman of the Federal Reserve by Obama. 


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Ben Swann Interviews G. Edward Griffin

Ben Swann

Ben Swann talks with G. Edward Griffin, the author of Creature From Jekyll Island, about the need for truth in media and how to share liberty ideas with friends, coworkers and neighbors.


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The U.S. Government Will Borrow Close To 4 Trillion Dollars This Year

Michael Snyder

When you add maturing debt to the new debt that the federal government is accumulating, the total is quite eye catching.  You see, the truth is that the U.S. government must not only borrow enough money to fund government spending for this year, it must also "roll over" existing debt that has reached maturity.  Of course the government never actually pays off any of that debt.  Instead, it essentially takes out new debts to cover the old ones. So the U.S. government is actually borrowing far more money each year than most Americans realize.

For fiscal year 2013, the U.S. budget deficit will be about $845 billion, but on top of that the government will also have to borrow about 3 trillion dollars to pay off old debt that is maturing.  Overall, the U.S. government will borrow close to 4 trillion dollars this year, and that number will likely be even higher next year.  That is not going to cause a crisis as long as interest rates stay super low, but if interest rates begin to rise substantially, the game will change dramatically.

Bernanke Confirms: “If We Were To Tighten Policy, The Economy Would Tank”

Mac Slavo

Financial analysts have opined that the United States is well on the road to recovery. They cite various data points to make the case that the multi-trillion dollar bailouts and stimulus have brought us back from the brink of a collapse so serious that Congressional leaders had been told that should the bailouts fail, there was a real possibility of martial law being declared.

We’re doing so well, in fact, that just a couple of years ago President Obama assured the nation of our progress, claiming that we “reversed the recession, avoided a depression, [and] got the economy moving again.”

But were one to take a step back from the rhetoric of talking heads, political leaders and so-called Wall Street experts, a completely different picture begins to emerge.

G. Edward Griffin: Protectors of the Public

This is the third installment in a series of chapter summaries from G. Edward Griffin's must-read book The Creature From Jekyll Island.  This book may be the most important "red pill" available and we highly recommend that you buy and read the full book at RealityZone.

G. Edward Griffin

Buy Here

Chapter 3 Summary: Protectors of the Public

The game called bailout is not a whimsical figment of the imagination, it is real. Here are some of the big games of the past and their final scores. 

In 1970, Penn Central railroad became bankrupt. The banks which lent the money had taken over its board of directors and had driven it further into the hole, all extending bigger and bigger loans to cover the losses. Directors concealed reality from stockholders and made additional loans so the company could pay dividends to keep up the false front. During this time, the directors and their banks unloaded their stock at unrealistically high prices.  When the truth became public, the stockholders were left holding the empty bag. The bailout, which was engineered by the Federal Reserve, involved government subsidies to other banks to grant additional loans. Then Congress was told that the collapse of Penn Central would be devastating to public interest. Congress responded by granting $125 million in loan guarantees so that banks would not be at risk.  The railroad eventually failed anyway, but the bank loans were covered. Penn Central was nationalized into AMTRAK and continues to operate at a loss.

In 1970, as Lockheed faced bankruptcy, Congress heard essentially the same story. Thousands would be unemployed, subcontractors would go out of business, and the public would suffer greatly. So Congress agreed to guarantee $250 million in new loans, which put Lockheed 60% deeper into debt than before.  Now that government was guaranteeing the loans, it had to make sure Lockheed became profitable.  This was accomplished by granting lucrative defense contracts at non-competitive bids.  The banks were paid back.

What is QE3? And What It Means For The U.S. Economy

Reality Check

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Should We End the Fed?

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Audit the Fed Headed for the House Floor!

Ron Paul

Last week supporters of Federal Reserve transparency had a major victory when the House Committee on Government Oversight and Reform passed my Audit the Fed bill, HR 459 unanimously with all major audit provisions intact. This clears the way for a House floor vote expected sometime in late July, and with a whopping 263 cosponsors, the chances of it passing have never looked better! This is an unprecedented opportunity for transparency into how the currency of the United States is handled, and mishandled by the Federal Reserve. It is more important than ever that my colleagues in the House and Senate understand what this legislation does and why it is so important.

The Federal Reserve is an enormously destructive and unaccountable force in both the U.S. economy and the greater global economy. Federal Reserve policies affect average Americans far more than fiscal, spending, and tax policies legislated by Congress; indeed the Fed "spends" more than Congress when it creates trillions of new dollars on its balance sheet to bail out favored financial institutions.

Ron Paul Chairs Hearing on Fractional Reserve Banking (VIDEO)

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Kucinich Explains the Importance of Auditing the Fed

Daily Caller

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Bank for International Settlements on Big Banks

James Hall, Contributor
Activist Post

The shadow-banking component that adds to the risk of non-regulatory oversight just deepens the mystery behind the most powerful banking institution that runs roughshod over global finance. In order to gain an insight into the complexity of deception, examine the function of the BIS. The granddaddy of all central banks, the Bank for International Settlement, latest BIS Annual Report 2011/2012, foretells future financial consolidation.



Watch the Banker to the World's Bank: Time to Deleverage, video interview on CNBC.

Economic Armageddon and You (Video)

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Big banks relieved as Fed sets debit card rule

The Federal Reserve handed a partial victory to
Wall Street on bank card fees
© AFP/Getty Images/File Spencer Platt

AFP

WASHINGTON (AFP) - The Federal Reserve on Wednesday slashed the fees which banks charge for debit card transactions, but did not cut them as deeply as initially expected, handing a partial victory to Wall Street.

Under the new rules, the fee charged for the average debit card transaction of $38 would be capped at approximately 24 cents, the Fed said in a statement announcing its decision.

Currently, the fee for an average debit card transaction is 44 cents. Banks had feared that the average fee would be cut as low as seven to 12 cents and mounted a fierce lobbying campaign to thwart the changes.

G. Edward Griffin: The Name of the Game is Bailout

This is the second installment in a series of chapter summaries from G. Edward Griffin's must-read book The Creature From Jekyll Island.  This book may be the most important "red pill" available and we highly recommend that you buy and read the full book at RealityZone.

G. Edward Griffin

Buy Here

Activist Post

Chapter 2 Summary: The Name of the Game is Bailout

Although national monetary events may appear mysterious and chaotic, they are governed by well-established rules which bankers and politicians rigidly follow.  The central fact to understanding these events is that all the money in the banking system has been created out of nothing through the process of making loans.  A defaulted loan, therefore, costs the bank little of tangible value, but it shows up on the ledger as a reduction in assets without a corresponding reduction in liabilities.  If the bad loans exceed the size of the assets, the bank becomes technically insolvent and must close its doors.  The first rule of survival, therefore, is to avoid writing off large, bad loans and, if possible, to at least continue receiving interest payments on them.  To accomplish that, the endangered loans are rolled over and increased in size.  This provides the borrower with money to continue paying interest plus fresh funds for new spending.  The basic problem is not solved, but is postponed for a while and made worse.

Conspiracy Theories are OK if They Come from the Boss: Geithner, “‘Dark Forces Fighting Financial Reform”

Wikimedia Commons Image

Jack Blood, Contributing Writer
Activist Post

We might all remember the Clinton Era mantra about a “Vast Right Wing Conspiracy” targeting the first couple in the 1990s. Of course Hitlary was correct. There likely was a conspiracy to take down these haters of Freedom, and marauders of this once great ‘Republic’. In the Oughts (2000s) there was a “Vast Left Wing Conspiracy” run by George Soros, the Ford Foundation, The National Endowment for Democracy, or the Brookings Institution to attack and dethrone George Jr., who was also a hater of liberty, and raper of the Constitution.

And I was with all that.

It's funny, though, when we the peeps “conspire” to expose the ‘Hypocrisy of Tyranny’ we are criminals, Racists, or even ‘terrorists’. When we point out the vast phony left vs right paradigm, and Hegelian dialectics ruining our country and the world, what are we called? You got it…. “Conspiracy Theorists”! Crazy, nutter, wacko, twoofer tards living in our mother’s basements, who believe in things like the Bilderbergers, and who should be drugged and or committed to psych gulags, stripped of our 1st and 2nd amendment rights, and re-educated.

Fed's secret loans to banking giants revealed

Dees Illustration

SMH/Bloomberg

Credit Suisse, Goldman Sachs and Royal Bank of Scotland each borrowed at least $US30 billion ($29 billion) in 2008 from a Federal Reserve emergency lending program whose details weren't revealed to shareholders, members of Congress or the public.

The $US80 billion initiative, called single-tranche open-market operations, or ST OMO, made 28-day loans from March through December 2008, a period in which confidence in global credit markets collapsed after the September 15 bankruptcy of Lehman Brothers Holdings.

Units of 20 banks were required to bid at auctions for the cash. They paid interest rates as low as 0.01 per cent that December, when the Fed's main lending facility charged 0.5 per cent.


“This was a pure subsidy,” said Robert A. Eisenbeis, former head of research at the Federal Reserve Bank of Atlanta and now chief monetary economist at Florida-based Cumberland Advisors. “The Fed hasn't been forthcoming with disclosures overall. Why should this be any different?”

The Federal Reserve Bank of New York, which oversaw ST OMO, posted aggregate data about the program on its website after each auction, said Jeffrey V. Smith, a New York Fed spokesman. By increasing the availability of short-term financing when private lenders were under pressure, “this program helped alleviate strains in financial markets and support the flow of credit to U.S. households and businesses,” he said.

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Fed sees 'transitory' higher inflation: minutes

Fed chairman Ben Bernanke
© AFP/Getty Images/File Alex Wong

AFP

WASHINGTON (AFP) - The US Federal Reserve still views higher inflation as only temporary as the economy muddles through a weak recovery from recession, the central bank reported Wednesday.

According to the minutes of the April 26-27 meeting of the policy-setting Federal Open Market Committee, the participants "generally anticipated that the higher level of overall inflation would be transitory."

While there had been "significant increases" in energy and other commodity prices that had boosted overall inflation, FOMC members expected price increases would ease once commodity prices stabilized.

Celente: Bigger Than bin Laden – America’s New Public Enemy No.1

New Public Enemy #1

Gerald Celente
Lew Rockwell

From the fans at Citizens Bank Park in Philadelphia to the mobs at the White House gates, “USA, USA,” was the chant heard across the nation. Jubilant Americans celebrated the breaking news that Public Enemy No.1, terrorist mastermind Osama bin Laden was dead.

Ten years have passed since the Twin Towers toppled and the Pentagon was whacked. After two failing wars and billions of dollars spent on the global manhunt to bring in Bin Laden “Dead or Alive,” America has now claimed victory. “This is bigger than the moon landing, this is huge,” exclaimed Fox News’ Geraldo Rivera.

“Justice has been done,” intoned President Barack Obama announcing Bin Laden’s death. He not only called it “a good day for America,” but also declared that “The world is safer. It is a better place because of the death of Osama Bin Laden.”

Matt Taibbi on a Government "Shadow Budget" that benefits Wall Street (Video)

Youtube - TYT


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US Fed to meet as global crises loom large

The US Federal Reserve building
© AFP/File Karen Bleier

AFP

WASHINGTON (AFP) - The Federal Reserve's top policymakers meet Tuesday with an upbeat US economic outlook clouded by a devastating earthquake and tsunami in Japan and unrest in the Middle East.

The Fed's rate-setting panel is expected to keep stimulus policies in place -- including ultra-low interest rates -- even as unemployment eases, consumer spending picks up and businesses grow more optimistic.

"We anticipate a more upbeat assessment of the economy and a less pessimistic tone towards the labor market," said Fabio Fois of Barclays Capital.

The Fed is expected to continue to unfurl a $600 billion stimulus spending designed to jolt the US economy back to full health, but one which critics warn is a risky gambit that is stoking inflation.

The Fed is expected to wave off concerns about rising prices, which have only been fueled by fighting in Libya that has pushed up the cost of oil.

With Americans struggling to pay gasoline prices that have risen around 43 cents a gallon (3.8 liters) in the last month to an average of $3.54, the Fed has insisted that core inflation remains in check.

The Fed's measure of inflation ignores volatile food and energy prices, which are often the costs most keenly felt by consumers.

On Friday the head of the powerful New York Federal Reserve, William Dudley, said inflation levels remained well below the two percent rate which the bank says spells a healthy economy.

"Inflation expectations are well-anchored today and we intend to keep it that way," Dudley said.

But as the economy improves, pressure is building on the Fed to ease its stance.

The central bank "will have to change its inflation language," John Ryding and Conrad DeQuadros of RDQ Economics said in a client note.

"Core inflation has stabilized and picked up slightly, oil and commodity prices have increased significantly, and inflation expectations have risen."

"The Fed, we believe, is on the wrong side of the inflation story."

But events in Japan may have eased pressure on the Fed to reverse course.

The economic impact of a massive earthquake and tsunami in Japan -- the world's third-largest economy -- is still unknown, although few believe a serious spillover is likely.

"Our early assessment is that Japan's GDP will take a hit for a quarter or two, but then bounce back as reconstruction gets into gear," said Patrick Newport of IHS Global Insight.

But coupled with rekindled sovereign debt crisis in Europe that saw Spain and Greece's sovereign ratings downgraded in the past week, and rising oil prices, the potential exists for an external brake on US growth.

Against this backdrop the Fed is expected to stand pat.

"The economic outlook has improved considerably in the past six months," according to Dudley that was the aim of the Fed's strategy "this is welcome and not a reason to reverse course."

But some experts believe the Fed might soon do just that.

"This is likely to be the last gathering before the Fed has to begin prepping the markets for the end of QE2," said Stephen Stanley of Pierpont Securities using the jargon name for the Fed's easy monetary policy -- quantitative easing.

© AFP -- Published at Activist Post with license

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