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  • EXCLUSIVE: Obama Takes on the Federal Reserve

    http://macedoniaonline.eu/content/view/7093/52/

    EXCLUSIVE: Obama Takes on the Federal Reserve Print
    Thursday, 11 June 2009

    Obama is about to take on the private banking system known as the "US Federal Reserve" that since its dubious creation in 1913 has had complete control over the printing of all US money in what many detractors have long stated was in great violation of the American Constitution.

    Almost unknown to the American people, the Federal Reserve Bank is comprised of 12 branches that are private corporations whose ownership is shrouded in the veil of secrecy and is the largest holder of United States debt said to be in excess of over $4 Trillion.

    Fueling Obama’s growing anger over the Federal Reserve Bank, the reports continue, has been their arrogant refusal to reply to the many questions being asked of them by the United States Congress over what has happened to over $8 Trillion of US taxpayer money, and which caused US Lawmakers to take the unprecedented step of issuing a subpoena yesterday to force the Federal Reserve to turn over internal documents related to Bank of America's acquisition of Merrill Lynch.

    The Federal Reserve Bank, in a desperate bid to hold on to its power over the Untied States, has hired one of Washington D.C.’s top lobbyists, Linda Robertson, who curiously, headed the Washington lobbying office of Enron Corporation which became one of the largest corporate bankruptcies in US history after they cheated investors out of a staggering $11 billion.

    More ominously though, with Obama’s plan to take on the Federal Reserve Bank he becomes only the second US President to attempt to break this insidious creatures stranglehold over the United States after President John F. Kennedy, on June 4, 1963, signed Executive Order No. 11110 to strip the Federal Reserve Bank of its power to loan money to the government at interest.

    On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the US government the power to issue currency, without going through the Federal Reserve. Kennedy's order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars [photo 3rd on left] in the Treasury.” This meant that for every ounce of silver in the US Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in US notes into circulation.

    Five short months later, President Kennedy was assassinated, and upon assuming office, newly sworn in President Lyndon Johnson recalled all of the US notes Kennedy had put into circulation and making President Ronald Reagan the next to challenge the power of the Federal Reserve, but which abruptly ended with his near assassination on March 30, 1981 by the hand of the son of former CIA Director, and then Vice President, George Bush’s closest friend and oil business backer John Hinckley Sr.

    President Reagan had pitted himself against the Federal Reserve over their refusal to lower the crushing interests rates they had imposed upon the American people during the US recession of 1980-1982 which was their greatest since the Great Depression, but after his near death quietly signed into law on September 13, 1982, H.R.6128 which became Public Law No: 97-258 that was written on the behalf of the Federal Reserve by little known US Congressman Peter Wallace Rodino Jr., with no co-sponsors, and made it illegal for any future American President to print money for the American people.

    But, according to Russian legal experts, even though Public Law No: 97-258 does appear on its surface to constrain President Obama; President Kennedy’s Executive Order No. 11110 has never been repealed by any American President making a showdown “inevitable” between Obama and the Federal Reserve before the US Supreme Court, and which Obama has recently nominated US Federal Judge Sonia Sotomayor to America’s highest court where she will become the 6th Roman Catholic Justice and giving the Vatican near total control of US monetary policy.

    And, in this epic battle between the Vatican backed Obama and the Rothschild backed Federal Reserve, we can plainly see that the 1849 secret agreements between these two monstrous powers that have enslaved the West is nearing its catastrophic end, and with no clear winner to be seen but an entire World being destroyed in its titanic aftermath.

    In what Israeli Prime Minister Benjamin Netanyahu considered a “threat”, the US stated to Israel this week that “We are going to change the world. Please, don't interfere.”, the American people have not even been told.

    This cannot be said of Putin, however, who immediately upon learning of Obama’s “battle” with the Federal Reserve joined China and Brazil and ordered Russia’s Central Bank to begin divesting itself of US Federal Reserve holdings and replace them with International Monetary Fund bonds as the United States is about to be crushed with what London’s Fleet Street News is calling “The Triple Crown of Financial Catastrophes”.

    The US Media has continued to be silent on this and numerous other issues.
    ???

  • #2
    Breaking News: Ron Paul’s HR1207 Gets House Majority Cosponsorship

    Breaking News: Ron Paul’s HR1207 Gets House Majority Cosponsorship
    http://libertymaven.com/2009/06/11/b...nsorship/6094/

    Ron Paul’s red hot bill, HR 1207 to audit the Federal Reserve now has 222 cosponsors. The 218th, according to a press release by Paul, was Dennis Kucinich.

    Washington, D.C. – Congressman Ron Paul’s Federal Reserve Transparency Act, HR 1207, has reached and surpassed the level of 218 cosponsors in the House of Representatives, which means it is now cosponsored by a majority of the members.

    The 218th cosponsor was Dennis Kucinich (OH-10), and the bill has since received its 222nd cosponsor.

    “The tremendous grass-roots and bipartisan support in Congress for HR 1207 is an indicator of how mainstream America is fed up with Fed secrecy,” said Congressman Paul. “I look forward to this issue receiving greater public exposure.”

    Hearings on Federal Reserve transparency are expected within the next month, as part of the Financial Services Committee’s series of hearings on regulatory reform.

    This is simply wonderful news, but now it becomes time to hammer on our Senators to cosponsor S604 which is HR1207’s Senate counterpart introduced by Bernie Sanders. The effort faces a stiffer battle in the Senate where Federal Reserve darlings sit on the Banking committee.

    S604 currently has no cosponsors. We need a brave Senator to be the first. Jim DeMint could be that brave man. Drop him a line on Twitter: @JimDeMint and contact his office requesting he be the first brave cosponsor of S604.

    UPDATE: Great News! Jim DeMint has stated (via his Twitter account) he has cosponsored S.604 in the Senate!

    Comment


    • #3
      Re: EXCLUSIVE: Obama Takes on the Federal Reserve

      classic sapiens post!

      Comment


      • #4
        Fed Intends to Hire Lobbyist in Campaign to Buttress Its Image

        Fed Intends to Hire Lobbyist in Campaign to Buttress Its Image
        http://bloomberg.com/apps/news?pid=2...d=aZjQKyLci1AM

        June 5 (Bloomberg) -- The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.

        Linda Robertson currently handles government, community and public affairs at Johns Hopkins University in Baltimore, and headed the Washington lobbying office of Enron Corp., the energy trading company that collapsed in 2002 after an accounting scandal. She was also an adviser to all three of the Clinton administration’s Treasury secretaries.

        Robertson would help the Fed manage relations with lawmakers seeking greater oversight of a central bank that has used emergency powers to prevent Wall Street’s demise. While she wasn’t tied to Enron’s fraud, her association with the firm may raise questions, analysts said.

        “Some members of Congress think there are votes in attacking the Fed” after it “unnecessarily and unwisely entangled monetary policy with fiscal policy,” said former St. Louis Fed President William Poole. “The Fed is going to have a tricky time of unwinding what has been done” and will need to “keep in touch with members of Congress more thoroughly,” said Poole, now senior fellow with the Cato Institute in Washington.

        Robertson served under Treasury Secretaries Lawrence Summers, Robert Rubin and Lloyd Bentsen. She didn’t return calls seeking comment.

        Summers Tie

        Summers now heads the White House National Economic Council. Along with Treasury Secretary Timothy Geithner, he is leading Obama administration efforts to broaden the economic rescue and overhaul financial regulation. He has been mentioned as a possible successor to Fed Chairman Ben S. Bernanke should Bernanke not be renominated when his term ends in January.

        Robertson is likely to start at the Fed in July and have the title of senior adviser to the Board of Governors, the people familiar with the situation said.

        She was considered for a senior post under Geithner at the Treasury but ran up against the Obama administration’s restrictions on hiring lobbyists, the people said.

        “People have been asking whether the Fed is capable of getting its job done right,” said Lynn Turner, a former chief accountant at the Securities and Exchange Commission. “Hiring a former lobbyist from Enron will surely make one wonder.”

        Lawmaker Pressure

        Robertson would confront a range of issues in the newly created position. Congress is looking to subject the Fed to more scrutiny, and some lawmakers have suggested that district bank presidents should be confirmed by the Senate.

        Some legislators have also expressed opposition to the Obama administration’s attempt to make the Fed the regulator in charge of financial companies deemed too-big-to-fail.

        In addition, the central bank has been become a target to some members of Congress who’ve posted online videos of their interrogations of Fed officials during public hearings.

        One YouTube clip, of Florida Democratic Representative Alan Grayson’s grilling of Inspector General Elizabeth Coleman, has garnered almost 500,000 views in about a month.

        Robertson is expected to advise the Fed on communications strategy, the people said. In recent months, Bernanke has pushed to make the traditionally secretive institution more open. He’s done a television interview with CBS’s “60 Minutes” program and taken questions from reporters at a National Press Club function in Washington.

        According to her biography on the Johns Hopkins Web site, Robertson has spent more than 25 years working on federal legislative issues.

        While Robertson’s Hopkins biography makes no mention of her work at Enron, federal disclosure documents show she joined the company in 2000 after working at the Treasury. Robertson, who signed some of the forms, said she lobbied on energy and tax issues.

        To contact the reporter on this story: Robert Schmidt in Washington at rschmidt5@bloomberg.net.
        Last Updated: June 5, 2009 00:01 EDT

        Comment


        • #5
          Fed Brings on Enron's Linda Robertson

          Fed Brings on Enron's Linda Robertson
          http://www.sovereignsociety.com/2009...2/Default.aspx

          Fed Brings on Enron's Linda Robertson Minimize


          Monday, June 8, 2009
          The Former Enron Lobbyist’s Dirty Little Secret…And the ticking, $492-Trillion-Dollar Time Bomb She Helped Create

          Oh, boy! Have we got a juicy one for you today!

          Apparently the Federal Reserve is hiring a new lobbyist. Wait a tick, you say, isn’t that absurd? Isn’t it almost like the FDIC hiring their own lobbyist? What’s the point?

          Well first; it’s not like that at all… Because the FDIC’s actually a government agency, and the Federal Reserve isn’t…

          In reality, it’s neither Federal nor an actual Reserve per sé. Instead, it’s a cartel of America’s most powerful banks – along the same lines as OPEC, for example. Sure, the Chairman of the Board of Governors (currently Ben Bernanke) is obligated to speak before Congress at least twice a year, but we’ve all seen how well that works…

          What about the $2.2Trillion in undisclosed loans from last year? Bernanke won’t say peep. What about details…results from the “Stress Tests”? He’ll tell you what you want to hear…

          But apparently even that is too much restraint for the Federal Reserve. Apparently congressional concerns are chafing the seemingly endless power of the world’s most overstretched Central Bank. So they’re bringing in a familiar face to smooth things over…and as soon as I heard her name, I stopped dead in my tracks…
          The Handiwork of Enron’s Linda Robertson

          The Devil’s always in the details, isn’t it?

          I mean; on the surface, it’s pretty unnerving that the Fed is hiring a lobbyist. But only when you dig in – only when you pick through her track record – does it become borderline criminal. Let me explain…

          We’ve spoken in the past about the Commodity Futures Modernization Act (CFMA) of 2000. If you're one of our business-history junkies, then that particular piece of legislation probably rings a bell.

          Because this was the act that gave us the "Enron Loophole," which took specific types of energy trading outside the regulatory authorities' reach. But beyond setting the stage for Enron’s spectacular failure, this piece of legislation had immense repercussions for the Credit Default Swap (CDS) market.

          Remember that a CDS is basically insurance on a bond. The bond defaults, you still get your money back. But unlike insurance, there aren’t any capital requirements…no safeguards or regulations. Remember, they’re just obscure swap agreements.

          And thanks to the CFMA, they were kept out of reach for regulators…until it was too late.

          At the time, the market for CDS was only three years old but quickly growing. But then the market for CDS simply exploded. With some US$900 Billion in total contracts before the act, there were trillions of dollars in CDS contracts by 2003...and then the market expanded 10 times over between 2003 and 2007.

          I don't think I have to tell you why…

          Every financial institution in the world was running with the pedal-to-the-metal, piling on questionable subprime mortgages in an all-out race to bring in the most fees...all the while offsetting their risk with CDS insurance.

          But – as mentioned above – there wasn’t anything behind the CDS insurance. Nothing to pay claims with. Turns out the CDS market was one of empty promises…and a means for inflating everyone’s books in what was quite possibly the greatest Ponzi scheme the world has ever seen.

          Oh, the tangled web we weave. But now we’re paying the price…

          AIG is “too big to fail,” so we throw a few hundred billion dollars at ‘em. Why? To fulfill their CDS contracts. They never had the cash to pay up on these contracts…but if they fail to pay, then the rest of the system – JP Morgan, Goldman, etc. – will be at risk. A brilliant business strategy for them, but one that’s costing the U.S. government trillions upon trillions of dollars.

          All thanks to one little act – the CFMA. One little sheet of paper…one legally-bribed Phil Gramm…and a handful of Enron lobbyists (the lobbyists actually wrote the bill’s language) created hundreds of trillions in liabilities that would fall on generations of American taxpayers and dollar-holders.

          And spearheading this effort? The lobbyist in charge of Enron’s Washington office? You guessed it; none other than Linda freaking Robertson.
          The Fed’s Mad Grab for Power

          They can’t be serious! I think…but of course, they are…

          In reality, the blame for today’s crisis falls squarely on the Federal Reserve. You can attribute it to any of a hundred different causes, but most of them trace their roots back to the “easy money” policy of the Fed and the lowering of reserve ratios that happened in the '90s and '00s.

          Now, today, the Fed is turning its greatest long-term blunder into a mad grab for power.

          Their balance sheet has ballooned by trillions, and yet they’re as obscure as ever…they’re seeking greater authority over U.S. non-financial institutions, but they haven’t truly “saved” anyone just yet…and they hold themselves out to be one of the only institutions truly capable of stopping the systemic failure they helped bring about.

          But alas, they can’t do it alone.

          Ben’s already got his hands full with Congressional hearings. And Linda’s already proven her worth to the cause; pulling a fast one on the slow crowd in Washington back in 2000.

          She’s proven that she’s capable of getting esoteric, potentially disastrous legislation through the horse-traders in Congress, and that’s just the kind of qualification the Fed was looking for.

          Yours in Personal Sovereignty,

          MATTHEW COLLINS, A-Letter Editor

          P.S. CDS – aka “Demon Derivatives” – are still ripping a hole in Wall Street, slowly sucking up banks and financial companies as the CNBC crowd talks about the “new bull market.” For our ‘no BS report’ on the catastrophic power of these demon derivatives, just click here

          Comment


          • #6
            Re: EXCLUSIVE: Obama Takes on the Federal Reserve

            hope based on a false myth, in my opinion:

            Originally posted by Sapiens View Post
            http://macedoniaonline.eu/content/view/7093/52/

            President Kennedy’s Executive Order No. 11110 has never been repealed by any American President
            The power granted to the Secretary of Treasury to issue Silver Certificates was rescinded on September 9, 1987, by Executive Order 12608, signed by President Reagan. The official purpose of the Order was stated as "Elimination of unnecessary Executive orders and technical amendments to others." It did not affect EO 11110 directly but did affect the parent EO 10289 - along with 62 other executive orders.

            On that day President John F. Kennedy signed Executive Order No. 11110 that returned to the US government the power to issue currency, without going through the Federal Reserve. Kennedy's order gave the Treasury the power “to issue silver certificates against any silver bullion, silver, or standard silver dollars [photo 3rd on left] in the Treasury.” This meant that for every ounce of silver in the US Treasury's vault, the government could introduce new money into circulation. In all, Kennedy brought nearly $4.3 billion in US notes into circulation.
            Previously, the President could have issued Silver Certificates on his own authority; but, with the signing of EO 11110, he delegated that authority to the Secretary of the Treasury. At that time, the Secretary of the Treasury was Douglas Dillon from a well-known and powerful banking family. That means Kennedy surrendered the power to issue Silver Certificates and gave it to a member of the banking fraternity who could do with it as he pleased "without the approval, ratification, or other action of the President."

            [..]

            ...the Treasury did issue United States Notes in the same year as EO 11110 (1963) but, U.S. Notes are not the same as Silver Certificates. Furthermore, their issuance had nothing to do with EO 11110. It was mandated by an 1868 act of Congress, which required the Secretary of the Treasury to maintain the amount of U.S. Notes outstanding at a fixed level. This did not originate with JFK...

            [..]

            Even in 1963 when EO 11110 was issued, there were important legal and technical differences in the regulations that governed the issuance of Silver Certificates and U.S. Notes. These words were not used interchangeably. Regulations pertaining to the issuance of Silver Certificates could not be applied to the issuance of U.S. Notes, and vice versa. When EO 11110 authorized the issuance of Silver Certificates, it said nothing about U.S. Notes. The subsequent issuance of U.S. Notes, therefore, had nothing to do with EO 11110. And that is the point of this analysis.

            source for counter-arguments to the 'JFK U.S. Notes myth', G. Edward Griffin, author of The Creature from Jekyl Island

            http://www.freedomforceinternational...refpage=issues

            Comment


            • #7
              Re: EXCLUSIVE: Obama Takes on the Federal Reserve

              The Federal Reserve is likely to emerge as the most powerful regulatory agency in the Obama administration’s plan for overhauling financial market oversight, people familiar with the proposal said.

              [..]

              In President Barack Obama’s plan, scheduled to be released June 17, the Fed is also expected to retain supervisory authority over bank holding companies and the state-chartered banks it currently regulates, the people familiar with the matter said.

              [..]

              Under the administration plan, the central bank would lose its responsibilities for some issues relating to credit cards, mortgages and financial education to a newly created consumer protection agency, the people said.

              [..]

              “If the Fed hasn’t been worried about systemic risk all these years, then people really should be fired,” former SEC Chairman Richard Breeden told lawmakers in March. “Rather than simply calling for more authority for people who didn’t use the authority they already had, we need to reexamine why our regulators missed so many of the risks staring them in the face.”
              http://www.bloomberg.com/apps/news?p...d=aiXYMtYIk7_A

              Killing the Fed by giving it more authority over the institutions it's officials are already cozy with via the revolving door?

              Sapiens with all due respect, that first article from Macedonia Online appears to be pure fantasy.

              Comment


              • #8
                Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                Originally posted by babbittd

                Sapiens with all due respect, that first article from Macedonia Online appears to be pure fantasy.
                Hence the question marks...

                Comment


                • #9
                  Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                  I believe this entire article is just a verbatim copy of something first published under the pseudonym "Sorcha Faal". See further the whatdoesitmean.com site for the "work" of this "person". Sites such as this provide a valuable service -- they allow even udderly (Moo!) crazed tin-foil-hat conspiricists (Moi?) to reassure themselves that they are not that insane.
                  Most folks are good; a few aren't.

                  Comment


                  • #10
                    Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                    I have no idea about the validity of the theory put forth in the post but there is this:

                    http://ncronline.org/blogs/ncr-today...-church-assets

                    Every "theory" to explain intelligent agents acting in their environment is a "conspiracy theory". All we can do is test factual assumptions. Did Jonhn Hinckly Sr. have a relationship with GHWB? for instance. I have no idea.

                    Just some thoughts.

                    Comment


                    • #11
                      Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                      Originally posted by sunskyfan
                      Every "theory" to explain intelligent agents acting in their environment is a "conspiracy theory". All we can do is test factual assumptions.
                      Take a look at this:

                      http://www.lewrockwell.com/north/north445.html
                      The Most Successful Fraud in American History

                      by Gary North


                      Before I identify what has to be the most successful fraud in the history of the United States, I should first define my terms.

                      Fraud: A deliberate attempt to deceive a targeted victim, so as to obtain something of value from him that would have been difficult to obtain, had the victim known the truth.

                      Success: Securing an advantage for yourself and your heirs that is almost impossible to lose, even under competitive conditions.

                      I offer the following criteria as characteristics of a successful fraud.

                      First, the perpetrator who designs the fraud and then executes it is subsequently hailed by the victims as a hero, a genius, and indispensable to their own well-being.

                      Second, the perpetrators must be bound by an oath of non-disclosure, which all of them keep until they die, yet which leaves no trail of paper for historians to discuss.

                      Third, the nature of the fraud is well known by critics, who tell their story in full public view at the time the fraud is committed, but a majority of the victims reject this story.

                      Fourth, the critics' negative assessment is forgotten over time, leaving the victims' heirs convinced that the original fraud was a great idea and well worth defending.

                      Fifth, anyone who discovers the true nature of the fraud cannot gain a hearing because the heirs of the victims dismiss him as a crackpot, either in general or else regarding this specific issue.

                      Sixth, the heirs of the perpetrators extract a growing percentage of the wealth of the heirs of the victims.

                      Seventh, the fraud must have a slogan, preferably very short, easily memorized, universally accepted, and devoid of content, just in case someone should try to sue the perpetrator or his heirs for the commission of the crime.

                      Eighth, the heirs of the victims then consent to the plans of the heirs of the perpetrators to extend the original fraud, whether by additional fraud or else force, to new groups of victims, who whose ancestors were not parties to the original fraudulent transaction.

                      Ninth, the heirs of the original victims pay all of the costs of this extension of the original fraud to a new generation of victims.

                      Tenth, the new generation of victims is then persuaded to bear a growing percentage of the costs of extending the fraud to still more victims.

                      Eleventh, the bulk of the net return on the extension of the fraud continues to flow to the heirs of the original perpetrators.

                      Twelfth, the process must go on for more than a century; two centuries are better.

                      There may be additional features of a successful fraud, but I think the presence of this dozen constitutes a highly successful fraud.

                      Can you think of a fraud in American history that has these twelve, or even more? If so, you should draw up your case in writing and submit it for consideration to this site's editor, who loves a good fraud story better than silver. Tie it to a conspiracy, and he loves it more than gold. Get the government involved, and he cannot resist.

                      But you cannot match mine, for mine tops them all.

                      AND THE WINNER IS. . . .

                      James Madison and his unindicted co-conspirators.

                      First, the perpetrator who designs the fraud and then executes it is subsequently hailed by the victims as a hero, a genius, and indispensable to their own well-being.

                      Madison is universally heralded as the father of the Constitution. This is an accurate assessment of his role. From the Annapolis Convention of 1786, which called for the Constitutional Convention of 1787, which (1) closed its doors to the public and the press, (2) did not amend but instead replaced the Articles, in specific violation of the instructions officially given by several state legislatures to their attendees; (3) unconstitutionally (Articles of Confederation) ratified the illegal document in 1787–88, Madison was there, running the show. Everyone knew it at the time.

                      Second, the perpetrators must be bound by an oath of non-disclosure, which all of them keep until they die, yet which leaves no trail of paper for historians to discuss.

                      No member of the Convention ever revealed what went on behind those closed doors. This included the opponents of the Constitution. Luther Martin of Maryland, a signer of the Declaration of Independence, opposed the Convention's plan within days of his participation. He kept notes of the debates, but his notes were not published until 1838, two years after Madison's death – the last member of the Convention to die. Martin's notes were published along with Robert Yates' notes, who also attended and opposed what had been done there: Secret Proceedings and Debates of the Constitutional Convention, 1787. Today, this book is unread by most graduate students of the era, let alone by the general public. I cannot find it on-line in text form – just offers to sell copies of the book. When a document of this level of historical importance is not on-line for free, the memory hole is still operating.

                      Madison turned over his notes to George Washington, who took them back to Mt. Vernon. Madison knew that no one would or could force Washington to surrender them. His notes were not published until 1845.

                      What could have kept opponents like Yates and Martin from publishing? One explanation is obvious, yet rarely mentioned by historians: The members took a vow of secrecy. That was an era in which oaths were taken seriously.

                      Third, the nature of the fraud is well known by critics, who tell their story in full public view at the time the fraud is committed, but a majority of the victims reject this story.

                      The anti-Federalists published numerous criticisms of the secret Convention and the proposed Constitution. Yet in every state ratifying convention, the Federalists won. Madison was a consummate political organizer. More than this: He is arguably the most organizationally successful political theorist in man's recorded history. He even took notes of the Convention and revised them just before he died – the very records that would shape what historians would record. Solon and Lycurgus left no body of theoretical works. Madison did. So, only Lenin comes close to Madison in this regard. But the product of Lenin's conspiratorial revolution only lasted for three-quarters of a century.

                      Fourth, the critics' negative assessment is forgotten over time, leaving the victims' heirs convinced that the original fraud was a great idea and well worth defending.

                      The first complete collection of the anti-Federalist papers was edited by Herbert Storing and published in an expensive collection aimed at university libraries by the University of Chicago Press in 1981. You can find these documents on the Web today, but in 1981, the Web did not exist.

                      Typical of the attitude of twentieth-century historians is the title of one of the most well-known articles in my graduate school days of the 1960s, Cecelia Kenyon's "Men of Little Faith: The Anti-Federalists on the Nature of Representative Government" (1955). She was selected by the editors at Bobbs-Merrill to edit the collection of Anti-Federalist papers that grad students in my day read, or were supposed to have read, before their Ph.D. exams in colonial American history.

                      Fifth, anyone who discovers the true nature of the fraud cannot gain a hearing because the heirs of the victims dismiss him as a crackpot, either in general or else regarding this specific issue.

                      I offer as evidence my book on the Constitution, Conspiracy in Philadelphia (2004). I have posted it free on-line. I wrote the original as Part 3 of my 1989 book, Political Polytheism. This may be the least popular book I ever wrote, even among my targeted audience. I can recall one dedicated lady, a stalwart in the independent Christian day school movement, who told her son, "Why did he have to write that?"

                      Sixth, the heirs of the perpetrators extract a growing percentage of the wealth of the heirs of the victims.

                      Consider the United States government's budget, its annual deficit, its on-budget debt, and its off-budget debt. If you do not know where to begin, start here: M. W. Hodges' Grandfather Economic Report.

                      Seventh, the fraud must have a slogan, preferably very short, easily memorized, universally accepted, and devoid of content, just in case someone should try to sue the perpetrator or his heirs for the commission of the crime.

                      "We the people." Want to try to match that one?

                      Eighth, the heirs of the victims then consent to the plans of the heirs of the perpetrators to extend the original fraud, whether by additional fraud or else force, to new groups of victims, who whose ancestors were not parties to the original fraudulent transaction.

                      I offer as evidence the Spanish American War, World War I, World War II, Korea, Vietnam, Panama, Desert Storm, Afghanistan, Iraq. Then there are these: foreign aid, the State Department, and innumerable CIA coups.

                      Ninth, the heirs of the original victims pay all of the costs of this extension of the original fraud to a new generation of victims.

                      What are these costs? Read the collection of essays compiled by John Denson, The Costs of War: America's Pyrrhic Victories. If this is too much, then at least read David Gordon's review.

                      Tenth, the new generation of victims is then persuaded to bear a growing percentage of the costs of extending the fraud to still more victims.

                      The acronym NATO comes to mind. More recently, the Bush Administration assumed that Iraq's oil revenues would pay for the reconstruction of the war-devastated country. There were actually people who believed this. John Kerry's entire campaign position on the Iraq War was grounded on the assumption that the Administration should have sought allies, who would then have shared the costs. Desert Storm was his model. He promised that, if elected, he would line up such cost-sharers.

                      Eleventh, the bulk of the net return on the extension of the fraud continues to flow to the heirs of the original perpetrators.

                      If you want to read one book on this – well, three – read Philip Burch's three-volume work, Elites in American History (1981). The complete set is out of print, and it was published by an obscure publishing company. You probably have never heard of it. I bought two sets, just in case.

                      With respect to the nature of the net return, consider the crucial slogan of modern American politics. Although he went to his grave denying that he ever said it, the archetype of this policy prescription is still attributed to Harry Hopkins, the senior advisor to Franklin D. Roosevelt: "We will spend and spend, and tax and tax, and elect and elect." The constituents of whichever political party is incumbent still accept this.

                      Twelfth, the process must go on for more than a century; two centuries are better.

                      This one has gone on since 1788.

                      CONCLUSION

                      The most accurate assessment of this incomparably successful fraud was Patrick Henry's. When asked why he did not attend the Constitutional Convention, he replied: "I smelt a rat in Philadelphia."

                      March 27, 2006

                      Comment


                      • #12
                        Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                        Originally posted by Sapiens View Post
                        ah, gary north... mr. credible.

                        Comment


                        • #13
                          Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                          Originally posted by metalman View Post
                          ah, gary north... mr. credible.

                          http://books.google.com/books?id=R2c...esult&resnum=1


                          Veritas, a quocumque dicitur, a Deo est. 4 Inst. 153

                          Truth, by whomsoever pronounced, is from God.

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                          • #14
                            Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                            i'll go with the truth as process idea... north's long pattern of behavior reveals a nutjob... launched to fame as a y2k doomer...

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                            • #15
                              Re: EXCLUSIVE: Obama Takes on the Federal Reserve

                              Originally posted by metalman View Post
                              i'll go with the truth as process idea... north's long pattern of behavior reveals a nutjob... launched to fame as a y2k doomer...
                              I will make it simple for you, look at your surroundings. Do you know why and how you arrived at such status? In other words, are you surrounded by opulence or poverty? Has the knowledge of your experience confirm the words of others, as you perceive them?

                              Gary may very well be a nutjob, however, many of his words bear truth in consistency with my life experience.

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