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Dallas Fed Admits, “For the next 8 months, the Nation’s Central bank will be monetizing the Federal Debt”

Posted on Nov 08, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

 

Dallas Fed Admits “For The Next Eight Months, The Nation’s Central Bank Will Be Monetizing The Federal Debt”, Opens Door To Bernanke Impeachment

Time to begin the Chairman impeachment proceedings. It is one thing for blogs like Zero Hedge to argue (rightly) for the past 1.5 years that the Fed’s actions in the Treasury space are nothing but direct debt monetizations. After all, one can always argue semantics, as some peers have enjoyed doing in the past. Yet when an actual Federal Reserve Fed President, in this case Dallas Fed’s Dick Fisher states it without any trace of hiding the underlying intent, then things get a little serious. To wit: “For the next eight months, the nation’s central bank will be monetizing the federal debt.” It gets worse: even though Fisher realizes that what he is doing is unconstitutional, he also admits that the Fed’s actions are now is effectively a policy tool: “Here is the message: The Fed is going out of its way to be a good citizen. It is time for the Congress to do the same....

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Ron Paul and The Judge Discuss Bringing Down the Federal Reserve

Posted on Nov 06, 2010 in Featured Articles, Federal Reserve & Bankers, Political Issues

Kevin Hayden

TruthisTreason.net

Taken in part from Paul Joseph Watson – PrisonPlanet.com

The blame for this financial turmoil can be laid firmly at the feet of Ben Bernanke, acting at the behest of the Fed’s owners, who having promised in June last year that they would not monetize the debt of the U.S. government.  They have now embarked upon a “mad experiment” that will precipitate “the collapse of the US dollar paper standard,” as CLSA’s Chris Wood describes it.

As the Honorable Louis McFadden, Chairman of the House Banking and Currency Committee, warned in 1933, the Fed does not care that it is killing the dollar because its role is to represent the interests of its international owners and its Wall Street cronies, not the American people.

“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders,” said McFadden.

So while the happy clappers on Wall Street are drunkenly celebrating the fact that their artificially inflated stock market is surging solely as a result of the value of the dollar being eviscerated, Main Street is hunkering down for a long winter, beset by worries about hyperinflation, rising food prices and gas price hikes, as oil follows gold’s meteoric rise, again solely as a result of the Fed’s decision to debase the greenback....

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Ron Paul vs Ben Bernanke, How to Create $850 Billion from Thin Air and GM’s IPO

Posted on Nov 03, 2010 in Economic News, Federal Reserve & Bankers

 Kevin Hayden

TruthisTreason.net

Ron Paul To Chair Monetary Policy Subcommittee

Here is why an open-ended QE2 may be a very moot point: Slate reports that Ron Paul, Ben Bernanke’s greatest nemesis, will chair the all important monetary policy subcommittee. In other words, Bernanke vs Paul theater will soon be a weekly feature. Too bad Alan Grayson will be no longer present.

And now back to the popcorn.

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GM Files 500 Page Paperweight-cum-Prospectus, Hopes To Sell $10 Billion In Stock To Hapless Lemmings

GM has filed its IPO prospectus. At 276 pages, 240 F-pages, and 53-A pages, it is just slightly shorter than the entire text of healthcare reform. And since the fate of ponzi crony capitalism rest on the successful pricing of this dogshit, every single underwriter in the world (20 banks) is a participant, with Morgan Stanley lead left. In a nutshell, Government motors hopes to sell 365 million shares, with an expected price of $26-29/share. Now if only GM could focus on making good cars as much as they care about paying lawyers millions for writing the biggest paperweight in history, all would be well....

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The Fraud Started at the Very Top

Posted on Nov 02, 2010 in Constitutional & Liberty Issues, Economic News, Featured Articles, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

The Fraud Started At the Very Top: With Government Leaders

The government’s entire strategy now – as during the S&L crisis – is to cover up how bad things are (“the entire strategy is to keep people from getting the facts”).

But it is not only a matter of covering up fraud that has already happened. The government also created an environment which greatly encouraged fraud.

Here are just a few of many potential examples:

  • Business Week wrote on May 23, 2006:

“President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations.”

  • Tim Geithner was complicit in Lehman’s accounting fraud, (and see this), and pushed to pay AIG’s CDS counterparties at full value, and then to keep the deal secret. And as Robert Reich notes, Geithner was “very much in the center of the action” regarding the secret bail out of Bear Stearns without Congressional approval.
...

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Federal Reserve Most Brazen Of All Ponzi Schemes, US Economy Compared to a Black Hole

Posted on Oct 27, 2010 in Economic News, Federal Reserve & Bankers

Source: Zero Hedge

Bill Gross Calls Fed “Most Brazen” Of All Ponzi Schemes, Says 30 Year Bond Market Is Ending, Compares US Economy To Black Hole

Whatever the conclusion, not only investors, but the American people should recognize that Wednesday, even more than Tuesday, represents a critical inflection point in determining our future prosperity. Of course we’ve tried it before, most recently in the aftermath of the Lehman crisis, during which the Fed wrote $1.5 trillion or so in “checks” to purchase Agency mortgages and a smattering of Treasuries. It might seem a tad dramatic then, to label QEII as “critical,” sort of like those airport hucksters, I suppose, that sold whale blubber for a living. But two years ago, there was the implicit assumption that the U.S. and its associated G-7 economies needed just an espresso or perhaps an Adderall or two to get back to normal.

The Fed’s second round of QE, therefore, more closely resembles an attempted hypodermic straight to the economy’s heart than its mood elevator counterpart of 2009. If QEII cannot reflate capital markets, if it can’t produce 2% inflation and an assumed reduction of unemployment rates back towards historical levels, then it will be a long, painful slog back to prosperity....

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Collapse of Civilization Now Guaranteed

Posted on Oct 27, 2010 in Constitutional & Liberty Issues, Featured Articles, Federal Reserve & Bankers

Source: Activist Post

by Eric Blair

“It has been written” as the saying goes.  For many generations there have been small groups of people who have researched and protested the criminal nature of our rulers who cast their disease on civilization.  These activists screamed truth to the masses about humanity’s hidden slavery, yet few listened.  

However, the injustices have now become too extreme, too obvious, that the truth has risen to near critical mass with the independent-minded population.  And indeed many more sheep, who unknowingly fund their own prison, are waking up by the minute. 
But can this mass awakening prevent our civilization from collapsing during this detonation period? Sorry folks, the answer is no.  Because even if “The Resistance” is successful in swiftly overtaking the controls of government and overturns the Federal Reserve, the dominoes set in motion by the corporate rulers are still likely to fall as they still control the food, the oil, and the heavy weapons. Furthermore, the Federal Reserve will fight it out to the death, and they have the power to simply shut everything down with a flick of the switch....

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Bernanke Plans on Inflation, Treasuries Sell at Negative Yield and China Accuses US of Dollar Printing

Posted on Oct 26, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

 

Bernanke Asset Purchases Risk Unleashing 1970s Inflation Genie

For the second time since he became chairman in 2006, Ben S. Bernanke is leading the Federal Reserve into uncharted monetary territory.

Bernanke next week is likely to preside over a decision to launch another round of large-scale asset purchases after deploying $1.7 trillion to pull the economy out of the financial crisis, comments from policy makers over the past week indicate. This time, with interest rates already near zero, the Fed will be aiming to increase the rate of inflation and reduce the cost of borrowing in real terms. The goal is to unlock consumer spending and jump-start an economy that’s growing too slowly to push unemployment lower.

Estimates for the ultimate size of the asset-purchase program range from $1 trillion at Bank of America-Merrill Lynch Global Research to $2 trillion at Goldman Sachs Group Inc., with economists at both firms agreeing the Fed will likely start by announcing $500 billion after the Nov. 2-3 meeting. The danger is that once the Fed kindles price increases, inflation will be difficult to control....

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Second Autopsy Shows Banker Was Shot Execution-style, Not Accidental Drowning – Oops!

Posted on Oct 21, 2010 in Federal Reserve & Bankers

Source: Morning Sun

via Cryptogon.com

A new autopsy shows that a Michigan banker whose body was found in Lake St. Clair was shot in the head, and authorities said Wednesday it could be either a homicide or a suicide.

Hayden’s Note:

The PREVIOUS autopsy said he drowned and didn’t mention a gunshot wound to the back of the neck, execution-style.  What gives?

Spitz has said previously that his examination on Monday found no evidence of trauma or assault, and some evidence from the body is consistent with a death by drowning.

Mount Clemens banker David Widlak was shot in the back of the head, Sheriff Mark Hackel said in a press conference.

A handgun – owned by Widlak – was found in the water near a boat launch ramp between Crocker Avenue and Shook Road in Harrison Township.

Hackel says gunshot was cause of death – not undetermined as initially reported by the county medical examiner, Dr. Daniel Spitz. But whether it was suicide or homicide is not known at this time, pending more police investigation.

“We are shocked at this latest turn of events,” the Widlak family said in a statement to The Macomb Daily....

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The IMF’s Special Drawing Rights vs. the US Dollar, An Attempt to “Rebalance” the World Economy

Posted on Oct 21, 2010 in Economic News, Federal Reserve & Bankers

Source: Wall Street Journal

Treasury Secretary Timothy Geithner said he would use weekend meetings of G-20 finance ministers to advance efforts to “rebalance” the world economy so it is less reliant on U.S. consumers, to move toward establishing “norms” on exchange-rate policy, and to persuade others the U.S. doesn’t aim to devalue its way to prosperity.

Hayden’s Note:

I stumbled across this late last night and found it pretty interesting.  On the surface, it would actually help ease currency wars and import/export problems faced by America.  It would put many countries on a more-even playing field.  While that sounds good and all, it’s a fairy-tale.  By forcing different currencies to align in value by simple G-20 decree, you undermine sovereignty.  While I will always side with the choice of “more freedom” I have to say – something along these lines might be the only thing to save us.  It would help in our current trade wars and trade deficit, but the world would lose more freedom and choice as a result.  Unfortunately, if by sticking to the “more freedom” approach we fail as a nation and crash, then let it be a lesson for the rebuild....

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Cotton at 140 Yr. High, Copper Price Nearing Theft Level, More Inflation & France Receives Fuel Imports

Posted on Oct 20, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

 

Money Printing Set To Devalue Every Dollar You Own

I wish I could say it’s not happening. But it is. Central banks all over the world are now embracing Bernanke’s Friday announcement … and they’re gearing up to print a massive GLOBAL flood of paper money!

• Chicago and Boston Fed Presidents Charles Evans and Eric Rosengren are throwing their hat into the ring, putting more muscle behind Bernanke.

• The normally conservative, European Central Bank President Jean-Claude Trichet is joining in the chorus, calling for more money printing at the ECB, while also extending additional financial assistance to the European Union’s most indebted nations, Greece, Spain, and Portugal.

• The Bank of England is jumping into the fray, acknowledging that it will expand its money printing spree by at least $160 billion.

What Are These Central Bankers Smoking?

Don’t they remember ANY lessons of history?

Don’t they know that devaluing a nation’s currency is an insidious trick that has never created real, lasting wealth?

That it devalues every paper dollar you own? That it threatens your wealth like never before?...

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France to Run Out of Fuel as Protests Escalate, Bernanke’s Latest Moves and Violent Sell-off in the Stock Market

Posted on Oct 18, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

 

France to Run Out of Fuel in Days as Strikes Escalate

Petrol pumps could run dry in France by Wednesday, experts warned yesterday, as the stand-off over pension reforms reached crisis point.  Striking workers continued to block the Fos-Lavera fuel terminal near Marseille, where 61 ships and 47 petrol tankers are unable to offload.

Airlines advised pilots to refuel abroad and UFIP, the country’s oil industry association, said that if strikes continued at all 12 of France’s refineries, then national shortages would follow.

“We ran out of gas yesterday already. There’s nothing left,” said Alpha Sysavane, a worker at a BP station in Paris. “All we have left are a few litres of diesel fuel.”

One motorist from a village near Fontainbleau said she had driven 30 miles to Paris in order to buy fuel. “At home, the filling stations are closed,” said Emilia Scoubel (30), an office worker.

On Saturday, more than 825,000 protesters hit the streets in the fifth such demonstrations in a little over a month, though the government suggested that the movement was losing steam. ...

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Future Corn Rations, Continued French Protests & Poverty in the Suburbs

Posted on Oct 17, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

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Bank of America Downgraded by Bonds Market: Junk

Bondholders are penalizing Bank of America Corp. the most of any of the largest U.S. financial firms as the investigation into the foreclosure crisis expands.

Credit-default swaps on the country’s largest bank by assets rose above those of its peers by a record margin, according to data provider CMA. The contracts, which imply Bank of America has lost its investment-grade rating, exceed Citigroup Inc.’s by the most ever and surpassed Morgan Stanley’s this week for the first time in a year.

Attorneys general from all 50 states joined to open an investigation into whether lenders and mortgage companies falsified documents as they sought to repossess homes.

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How High Will Corn Prices Go Before Usage is Rationed?

Panic at the pumps: French motorists swamp petrol stations

US Cities Face Half a Trillion Dollars of Pension Deficits

Dollar Keeps Falling As Investors Await Fed Action

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Swazi Salaries ‘can’t be paid’

Swaziland’s government may run out of money to pay government employees before the end of the financial year if no funding is forthcoming from international finance institutions, various role players in the country said this week....

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Dollar Tanks, Bernanke’s Speech, New Gold Records and 100k Foreclosures in 30 Days

Posted on Oct 14, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

Dollar tanks, stocks drop as Bernanke speech looms

European and U.S. stock markets mostly fell Thursday as investors awaited a speech from the Federal Reserve chairman that is expected to give more clarity on what the central bank is planning to do to prop up the ailing U.S. economy.

However, the prospect of more dollars floating around the system continued to pile the pressure on the currency itself.

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Gold Hits New Record as the Dollar Continues to Weaken

Spot gold rose to a fresh all-time high on Thursday, riding on the back of a weaker dollar, as investors expect more monetary easing from the Federal Reserve to jump start the economy.

* Spot gold XAU= rose to a fresh all-time high at
$1,376.95 an ounce, and eased to $1,375.65 by 0035 GMT
* U.S. gold futures for December delivery GCZ0 also hit a
new record high at $1,377.9.
* The dollar fell to its lowest against a basket of
currencies in nine months on Thursday, supporting the rally in
commodities prices.
* Spot gold XAU= is expected to rally towards $1,404 per
ounce as it has climbed above a consolidation range between
$1,324.85 and $1,364, said Wang Tao, a Reuters market
analyst....

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Rep. Hart Offers Idaho Silver Gem Act, Encourages People to Use Silver as Currency

Posted on Oct 13, 2010 in Constitutional & Liberty Issues, Economic News, Federal Reserve & Bankers

Source: Morph City

Cassandra Anderson

Idaho State Representative Phil Hart authored the Idaho State Silver Gem Act earlier this year which allows for the Idaho State Treasurer to issue silver medallions and make them available to the public; people may use them for any purpose they want and will have the option of paying their State taxes with the silver.  The benefits of the Silver Gem Act are:

• Silver can be used as an alternative currency, outside of the banking system

• Jobs will be created in the metal refining industry in Idaho

• Silver- and gold- are a protection against inflation for both the public and Idaho State 

The Idaho Silver Gem Act serves as a model that other states and local governments can use.  If the bill passes, people can use silver with confidence because the government of Idaho will accept it, too.   The Idaho Silver gem Act will also help to prevent possible federal precious metal confiscation.

According to G. Edward Griffin, America’s monetary system is based on fiat money, it has no intrinsic value and it is not asset- backed....

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The Dollar Collapse, Fed Runs Out of Debt to Purchase and Rampant Insider Selling Continues

Posted on Oct 11, 2010 in Economic News, Federal Reserve & Bankers

Kevin Hayden

TruthisTreason.net

 

Dollar Trades Near 8-Month Low on Prospects of More Fed Easing

 The dollar was near a 15-year low against the yen on speculation the Federal Reserve will debase the currency by signaling increased quantitative easing to reduce unemployment.  Fed Chairman Ben S. Bernanke said on Oct. 4 that the central bank’s first round of large-scale asset purchases aided the economy and that further quantitative easing, or QE, is likely to help more.

Hayden’s Note:

Quantitative Easing is simply another term – one that is more politically correct and easy to hear – for “printing more money.” 

Quantitative easing = making quantities of money more accessible, ergo turning the printing presses on high speed in order to buy up more US debt.  The Federal Reserve is now the world’s 2nd largest holder of US debt, beating Japan and only a few billion dollars behind China.  That is a scary, scary thought.

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Fed Frontrunning Update: The 5-7 Year Space Gives Best Returns As The Fed Prepares To Run Out Of Treasurys To Buy

It is time to once again consider the options for the only trade that make sense: frontrunning the Fed....

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