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The Dollar's Full-System Meltdown
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Continuity



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PostPosted: Tue Oct 31, 2006 7:38 am    Post subject: The Dollar's Full-System Meltdown Reply with quote

Quote:
The Dollar's Full-System Meltdown
By Mike Whitney

The U.S. Dollar is kaput. Confidence in the currency is eroding by the day.

A report in The Sydney Morning Herald stated, “Australia’s Treasurer Peter Costello has called on East Asia’s central bankers to ‘telegraph’ their intentions to diversify out of American investments and ensure an ‘orderly adjustment’….Central banks in China, Japan, Taiwan, South Korea, and Hong Kong have channeled immense foreign reserves into American government bonds, helping to prop up the US dollar and hold down interest rates,’ said Costello, but ‘the strategy has changed.’”

Indeed, the strategy has changed. The world has come to its senses and is moving away from the green slip of paper that is currently mired in $8.3 trillion of debt.

The central banks now want to reduce their USD reserves while trying to do as little damage to their own economies as possible. That’ll be difficult. If a sell-off ensues, it will start a stampede for the exits.

There’s little hope of an “orderly adjustment” as Costello opines; that’s just false optimism. When the greenback begins listing; things will turn helter-skelter quickly.

In September, we saw early signs that the dollar was in trouble. The trade deficit registered at $70 billion but the Net Foreign Security Purchases (NFSP) came in at a paltry $33 billion. That means that our main trading partners are no longer buying back our debt which puts downward pressure on the greenback. The Fed had two choices; either raise interest rates substantially or let the currency fall. Given the tenuous condition of the housing bubble and the proximity of the midterm elections, the Fed did neither.

A month later, in October, the trade deficit hit $69.9 billion but, then, without warning, a miracle occurred. The Net Foreign Security Purchases skyrocketed to a “historic high” of $116.8 billion; covering both months’ shortfalls almost to the penny.

Coincidence?

Not likely. Either the skittish central banks decided to “stock up” on their dollar-denominated investments or the Federal Reserve (and their banking-buddies) is buying back its own debt to float us through the elections.

This is exactly the kind of hanky-panky that people expected when Greenspan stopped publishing the M-3 last March keeping the rest of us in the dark about what was really going on with the money supply.

Are we supposed to believe that the skeptical central banks suddenly doubled up on their T-Bills while they’re (publicly) moaning about the dollar’s weakness and threatening to diversify?

That’s a stretch.

According to the Wall Street Journal the Chinese Central-bank governor Zhou Xiaochuan stated unequivocally that “We think we’ve got enough.” The Chinese presently have nearly $1 trillion in USD and US Treasuries.

“Enough”?

The United States runs a $200 billion per year trade deficit with China. If they’ve “got enough” we’re dead-ducks. After all, it doesn’t take a sell-off to kill the dollar, just unwillingness on the part of the main players to stop purchasing at the same rate.

Of course, everyone in Washington already knew that doomsday was approaching. That’s the way the system was designed from the very beginning. It’s all part of the madcap scheme to “starve the beast” and transfer the nation’s wealth to a handful of western plutocrats. That’s explains why the Fed and the White House whirred along like two spokes on the same wheel; every policy calculated to thrust the country headlong toward disaster.

The administration never created a funding mechanism for the $400 million tax cuts or for the 35% expansion of the Federal government. Defense spending increased by leaps and bounds as did the “no-bid” contracts for friends of the Bush clan. At the same time, interest rates were lowered to rock-bottom to put as much money as possible into the hands of people who couldn’t meet the traditional criteria for a mortgage. And, if gluttonous waste, reckless overspending and “Mickey Mouse” loans were not enough; the Fed capped it off by doubling the money supply in 7 years; a surefire prescription for hyper-inflation.

So, which one of these policies was not deliberate?

The financial crisis that we now face was created by design. It is intended to destroy the labor movement, crush the middle class, quash Medicare, Medicaid and Social Security, reduce our foreign debt by 50 or 60%, force a restructuring of America’s debt, privatize all public assets and resources, and create a new regime of austerity measures which will divert more wealth to the banking and corporate establishments.

The avatars of neoliberalism invariably use crooked politicians to spawn enormous “unsustainable” debt so that the nations’ riches can be transferred to ruling elites. It works the same everywhere. It’s a form of corporate colonization, only this time the victim is the good old USA.

“The Phase of Impact”

According to Richard Daughty in his prescient article “The Phase of Impact” the Federal Reserve and the Treasury Dept have already manned the battle-stations. Here’s an excerpt:

“Mr. Paulson, the Secretary of the Treasury, is, by virtue of his ascension to the throne, now the head of the shadowy President’s Working Group of Financial Markets (which was created by Presidential Order 12631) and he is insisting that they meet more often, namely every 6 weeks!

This whole Working Group thing was originally set up as a fallback, ad-hoc, if-then defense to deal with possible economic emergencies, but now they are routinely meeting every 6 weeks. He has even ordered Jim Wilkinson, his chief of staff, to ‘oversee the creation of a Treasury Command Center to track markets world-wide and serve as an operations base in a crisis”! (Wall Street Journal) World-wide!! The American government is moving to take control of the world-wide economy as the result of an anticipated crisis? Yikes!”

Daughty goes on to say: “So a lot of the hubbub is obviously being caused by some approaching upheaval, perhaps reflected in something sent to me by Phil S., which is the Global Europe Anticipation Bulletin No8 which reminded us that last May they predicted that the economy would have a ‘phase of acceleration’ that would begin in June, and it “would be spread out over a period of a maximum of 6 months’, which it subsequently did. They said then, and are saying again now, that a ‘phase of impact will begin in November 2006’, and that this impact phase would be the ‘explosive phase of the crisis’.

This ‘phase of impact’ that is due to begin momentarily is, they explain, ‘a period when a series of brutal crises starts affecting by contamination the total system. This explosive phase of the crisis, which will last 6 months to one year, will affect directly and very strongly financial players and markets, the owners of investment schemes with fixed incomes in dollars, pension funds and the strategic relations between the United States on the one side, and Europe and Asia on the other.” (Richard Daughty; “The Phase of Impact” Kitco.com)

Predictions, of course, are rarely reliable and Daughty’s scenario may be a bit too apocalyptic for many. But if we accept the premise that the tax cuts, the expansion of the federal government, the doubling of the money supply, and the $10 trillion that was sluiced into the housing bubble were not merely “honest mistakes” made by “supply side” enthusiasts; then we must assume that this is all part of a loony plan to demolish the economic foundation-blocks of the current system and remake society from the ground up.

Domestically, that plan appears to involve the activation of the police state.

In the last few weeks the Bush administration has passed the Military Commissions Act of 2006 which allows the president to arrest and torture whomever he chooses without charging him with a crime. Also, unbeknownst to most Americans, Bush signed into law a provision which, according to Senator Patrick Leahy, will allow the president to unilaterally declare martial law. By changing The Insurrection Act, Bush has essentially overturned the Posse Comitatus Act which bars the president from deploying troops with the United States. The John Warner Defense Authorization Act of 2007 (as it is called) also allows Bush to take control of the National Guard which has always been under the purview of the state governors. Bush now has absolute power over all armed troops within the country, a state of affairs which the constitution purposely tried to prevent. The administration’s dream of militarizing the country under the sole authority of the executive has now been achieved although the public still has no idea that a coup that has taken place.

Internationally, the falling dollar means that America’s debt will be reduced proportionate to the percentage-loss of the dollar in relation to other currencies. This is a great deal for the U.S. First the Fed prints fiat money to buy valuable resources and manufactured goods and then it nabs a discount by depreciating its currency. It’s a “win-win” situation for Washington, although it will undoubtedly cheat unwitting foreign-creditors out of their hard-earned profits. It’s doubtful that their interests will weigh very heavily on the money-lenders at the US Treasury or the Federal Reserve.

The dollar faces a second crisis at home which is bound to play out throughout 2007. The $10 trillion dollar housing bubble is quickly losing air causing a precipitous drop in GDP. The housing industry is seeing its steepest decline in 30 years and home equity is beginning to shrivel. Housing has been the one bright spot in an otherwise bleak economic landscape. With the housing market slowing down and prices decreasing, the $600 billion of consumer spending which was extracted in 2005 from home equity will quickly evaporate triggering an overall slowdown in the economy. (Consumer spending is 70% of GDP)

By the Fed’s own calculations; “The total amount of residential housing wealth in the US just about doubled between 1999 and 2006 up from $10.4 trillion to $20.4 trillion. (“Times Online”) If these figures are accurate than we can assume that much of America’s “perceived” growth has been nothing more than the expansion of debt. In fact, that seems to be the case. Wages have been stagnant since the 1970s, 3 million manufacturing jobs have been outsourced, savings have shrunk to below 0%, and personal debt is soaring. We have become an “asset-based” society and when the principle asset begins to loose its value, we are in deep trouble. As housing prices continue to decline through 2007 we can expect a full-blown recession. If energy prices rear their ugly head again, (were they lowered for the elections?) it will just be that much worse.

So, how will recession affect the dollar?

Capital has no loyalties. It follows the markets. When America’s bustling consumer market stalls, we’ll undergo capital flight just like everywhere else. The 3 million lost manufacturing jobs, the 200,000 lost high-paying high-tech jobs, the tax incentives for major corporations doing business outside the country; all signal that corporate America has already loaded the boats and is headed for more promising markets in Asia and Europe. A sluggish consumer market could further weaken the dollar and force Americans to begin saving again but, (and here’s the surprising part) the decision-makers at the Federal Reserve and the Treasury Dept don’t really care if the face-value of the greenback goes down anyway.

What really matters is that the dollar retains its position as the world’s reserve currency. That allows the Federal Reserve to continue to print the money, set the interest rates, and control the global economic system. The dollar presently accounts for 66% of foreign currency reserves in central banks across the globe, an increase of nearly 10% in one decade alone. The dollar has become the international currency, a de-facto monopoly. This is the goal of the globalists and the American ruling elite who dream of one system, the dollar-system; with us running it.

So, how will this cadre of plutocrats coerce the other nations to continue to use the dollar while it plummets from its perch?

Oil.

As long as oil is denominated in dollars, the central banks will be forced to stockpile American scrip regardless of its value. It’s no different than holding a gun to someone’s head. They will use our debt-plagued greenbacks or their cars and trucks will sputter, their tractors and factories will wheeze, and their economies will grind to a halt. It’s just that simple.

America cannot maintain its superpower status unless it continues to control the global economic system. That means the linkage between the dollar and oil must be preserved. The Bush troupe sees this as an existential issue upon which the future of America’s ruling class depends. By 2020, 60% of the world’s oil will come from the Middle East. Bush will do everything in his power to control the resources of the Caspian Basin, thereby expanding US dollar-hegemony and paving the way for a new American century.


From: http://informationclearinghouse.info/article15440.htm

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MichaelC



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PostPosted: Tue Oct 31, 2006 10:10 am    Post subject: Reply with quote

But haven't they been saying the same thing - more or less - for decades? And where would the money flee 'to' from the dollar? Is there any currency in the world today that is 'sound', i.e., gold or silver backed?
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elbowdeep



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PostPosted: Tue Oct 31, 2006 11:19 am    Post subject: Reply with quote

I think the only thing gold or silver backed, is gold and silver. Which is what the PTB don't want you to have. They need you to remain addicted to fiat currency.

If the price of gold goes up more than $6 in one session, they close the session down. They can't have the price of gold move up too quickly, that would be very bad for them. (However, if it drops (no matter how far), that's ok for them, and the session continues... )

Many years back gold was rightfully on the currency exchange, but was taken off the currency exchange and put on the commodity exchange, along with pork-bellies, coal etc... This is all psy-op you into forgetting about it's worth, and worship the fiat dollar. You will also notice that when watching the MSM, corporate lap-dog types, that gold is always downplayed, again confirming that something is amiss.

The problem with watching the "price" of gold, is that it is always measured in US dollars... so if the dollar takes a hit, then it SEEMS that the price of gold goes up. The fact is, the WORTH (confidence) of the dollar has gone down. Because in the end, all it is, is a CONfidence game. The way I see it, the price of gold never changes. 1oz gold is 1oz gold... but the dollar is manipulated, all part of the grand illusion.

It has been rumoured for quite a while that the PPT (Plunge Protection Team) (I believe officially called "The Working Group") has been making large buy or sell moves to sway the markets in whatever direction is desired. I've recently watched "GoldRush 21", http://www.goldrush21.com/
and there is much talk of the world banks selling massive amounts of gold (flooding) to keep the price down. The rumour is that they are running out of stockpiles to do this with, hence the recent gold rally a few months back.

Also take a look at this if you are interested..
http://grandich.com/docs/alertGL_09-12-06.pdf

ED

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MichaelC



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PostPosted: Tue Oct 31, 2006 2:18 pm    Post subject: Reply with quote

There is no gold in Fort Knox?
Where did it go and who now has it?
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elbowdeep



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PostPosted: Tue Oct 31, 2006 2:46 pm    Post subject: Reply with quote

This has a brief rundown of what I've run across elsewhere...
http://www.fgmr.com/right2know.htm

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DrewTerry
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PostPosted: Thu Nov 02, 2006 7:11 am    Post subject: Reply with quote

It has been moving to euros as the new dollar, which will be 'official' when the world oil market begins using euros instead of dollars as the standard currency to buy and sell oil. The only reason (in my opinion) that the dollar has maintained the relative strength over the years since we went off the gold standard is because we simply moved from gold to oil as the unofficial backing of the dollar.

That is due to the unknown agreement that Kissinger made with the Saudi's whereby they would agree to sell the US as much oil as we need, take US treasury securities as payment (instead of actual cash), spend the interest the US would 'pay' on the securities on infrastructure and improvements to the Kingdom (courtesy of Halliburton, Bechtel, etc.) and for cash needs sell what securities they needed to cash on the market for US dollars. This stabilized the dollar, provided a source of oil for the US, guaranteed that there would be a market for dollars as long as the Saudis had more oil than we had dollars, and eventually that the dollar would be devalued as the oil market eventually shifted to a currency for which the euro was designed. In the interim, it kept the war profiteering construction companies busy and built the kingdom to the highest standards and luxury the world has ever seen.

That is a very abbreviated version but pretty much it. That is also why Bush has been spending like drunken sailors which they did, and also why the Fed stopped publishing M3 as of 2006. The official explanation is that it is not relevant to determining economic policy and was too cumbersome to compile for very little benefit. (Or some bullshit close to that - look here for more) http://www.federalreserveonline.org/

Of course, most people would say M3 was either a machine gun or a firecracker, and those same people think the Fed is a governmental agency run for the benefit of the people, or at least not for its benefit and to the detriment of the people.

Sometimes I wonder if Eyes Wide Shut is like the grass is always greener but through a one-way mirror.

Quote:
Ohio Senator, Warren G. Harding, who was elected to the Presidency in 1920, said in a 1921 Congressional inquiry that the Reserve was a private banking monopoly. He said:

"The Federal Reserve Bank is an institution owned by the stockholding member banks. The Government has not a dollar's worth of stock in it."

His term was cut short in 1923 when he mysteriously died, leading to rumors that he was poisoned. This claim was never substantiated because his wife would not allow an autopsy.

Three years after the initiation of the Federal Reserve, Woodrow Wilson said:

"The growth of the nation...and all our activities are in the hands of a few men...
"We have come to be one of the worst ruled; one of the most completely controlled and dominated governments in the civilized world...
"no longer a government of free opinion, no longer a government by conviction and the free vote of the majority, but a government by the opinion and duress of a small group of dominant men."


In 1919, John Maynard Keynes, later an advisor to Franklin D. Roosevelt, wrote in his book The Economic Consequences of Peace:

"Lenin is to have declared that the best way to destroy the capitalist system was to debauch the currency...
"By a continuing process of inflation, governments can confiscate secretly and unobserved, an important part of the wealth of their citizens...
"As the inflation proceeds and the real value of the currency fluctuates wildly from month to month, all permanent relations between debtors and creditors, which form the ultimate foundation of capitalism, become so utterly disordered as to be almost meaningless..."


Congressman Charles August Lindbergh, Sr., father of the historic aviator, said on the floor of the Congress:

"This Act establishes the most gigantic trust on Earth...
When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust investigation, will be legalized...
This is the Aldrich Bill in disguise...The new law will create inflation whenever the Trusts want inflation...
From now on, depressions will be scientifically created...
The worst legislative crime of the ages is perpetrated by this banking and currency bill."


On June 10, 1932, Louis T. McFadden, said in an address to the Congress:

"We have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal Reserve Banks...
"Some people think the Federal Reserve Banks are United States Government institutions. They are not Government institutions.
They are private credit monopolies which prey upon the people of the United States for the benefit of themselves and their foreign customers...
"The Federal Reserve Banks are the agents of the foreign central banks...
"In that dark crew of financial pirates, there are those who would cut a man's throat to get a dollar out of his pocket...


"Every effort has been made by the Federal Reserve Board to conceal its powers, but the truth is the Fed has usurped the government. It controls everything here (in Congress) and controls all our foreign relations. It makes and breaks governments at will...

"When the Fed was passed, the people of the United States did not perceive that a world system was being set up here...
"A super-state controlled by international bankers, and international industrialists acting together to enslave the world for their own pleasure!"


From "The Creature from Jekyll Island : A Second Look at the Federal Reserve" by G. Edward Griffin (Link to Amazon Here):
http://www.amazon.com/exec/obidos/ASIN/0912986212/103-1659583-2267869
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atm



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PostPosted: Thu Nov 02, 2006 9:56 pm    Post subject: Reply with quote

MichaelC wrote:

Quote:
There is no gold in Fort Knox?
Where did it go and who now has it?


I haven't read the whole thread yet so this might have been mentioned already but I'll reiterate.

The International Monetary Fund (IMF) or the World Bank (can't remember which but they're both one and the same to all intents and purposes) hold all the gold that was once stored at Fort Knox.


Quote:
in 1981 President Ronald Reagan was convinced to have a look into Fort Knox with a view to re-introducing the Gold Standard. He appointed a group called The Gold Commission. They [The Gold Commission] found that the US Treasury owned no gold at all.

All the Fort Knox gold remaining is now being held as collateral by the Federal Reserve against the national debt. Using credits made from nothing. The Fed had robbed the largest treasure of gold on earth.


http://www.celticsurf.net/freeworld/money/index3.html

For conspiracy theories go here:

http://en.wikipedia.org/wiki/Fort_Knox#Conspiracy_theories

Quote:
And here’s an alternate answer, the conspiracy theory that keeps coming up in the form of allegations by people like Edward Durrell and Tom Valentine who suggest that the gold from Fort Knox was secretly sold and sent to London by president Lyndon Johnson in 1967 and 1968 to keep the prices of gold stable. Mr. Durrell suggested in 1970’s that only 1000 tonnes out of the 8,500 tonnes remained at the Fort Knox. The facts supporting these claims are no audit of this gold reserve since 1950 and no concrete explanations for the same. There are people who suggest that the huge amounts of gold being borrowed and loaned in the market suggests and endless increase in the gold trading activity which is only possible with the amounts of gold from Fort Knox being released in the market. Some other contentions published in 2001 by Freemarket Gold & Money Report suggest that all the gold reserve at Fort Knox has been reclassified without any prior notification to the public about the same.

The gold stored at the Fort Knox is not called the “Gold Reserve “any more. It is called “deep storage gold” the implications of which are questionable. The point raised is if it does not remain the U.S. Gold reserve anymore and if it is, then why is the label changed. Tom Valentine was an independent journalist and a key string of the alternate press in 1970’s that led to the partial audit of Fort Knox. There are suggestions that only a single vault was opened as a part of the audit and it did not have the expected amounts. Only some poor quality gold probably melted from the gold coins that were seized in 1934 was found.


http://www.market-day.net/article_31860/20061010/How-Much-Gold-Is-In-Fort-Knox.php

I suppose you could always ask Auric Goldfinger for his opinion but I think he may have been on the receiving end of a Walther PPK sometime in 1964.

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obeylittle



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PostPosted: Fri Nov 03, 2006 5:43 am    Post subject: Reply with quote

So Nixon had no choice but to take us off the gold standard then... we didn't have any. This thread fills in some blanks for me. I get it now.
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Jerry Fletcher



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PostPosted: Fri Nov 03, 2006 6:27 pm    Post subject: Fools Gold? Reply with quote

Quote:
America cannot maintain its superpower status unless it continues to control the global economic system. That means the linkage between the dollar and oil must be preserved. The Bush troupe sees this as an existential issue upon which the future of America’s ruling class depends. By 2020, 60% of the world’s oil will come from the Middle East. Bush will do everything in his power to control the resources of the Caspian Basin, thereby expanding US dollar-hegemony and paving the way for a new American century.


I've recently been delving pretty deeply into the functioning of the global commercial system and it's relationship to international law and politics.

This study has completely transformed the way I look at 'currency meltdown' propaganda like the article in Continuity's post. Predictable articles like this perpetuate the average citizens misconceptions about 'money', while distracting from the midterm 'election' op with the usual fears of economic armageddon and marshall law.

From what I have learned so far, it appears any relationship between the value of a Federal Reserve Note and the 'price' of gold is an elaborate ruse designed to support a false understanding of money. This misconception is culturally reinforced by the state mandated 'education' of the citizenry of the largest free market democracies. This misunderstanding is crucial to the progress of what we lovingly refer to as the 'NWO Agenda'.

Here are some recent concepts that have been described to me, in no particular order, and toward no one point in particular, but rather as starting points for indivdual exploration.

Commerce, the system of equitible exchange through obligation of contract has been around a long time; longer than politics, nations, and written language. Under this system, paper notes are used to represent labor energy that accumulates value through work. Debt means you owe somebody some labor, and credit means somebody owes you some.

Before paper was used, gold was used because it took 'labor' to get it out of the ground, and 'represented' somebody's hard work. Either way, gold represented value in substance right here and now, not hypothecated labor value existing in the future. It 'contained' work, and if offered to sombody else, they'd give you the 'work' in exchange. It existed, had substance, was very heavy, and could easily be stolen as it was easily recognizable 'wealth'.

All the democratic free market nations operate under this system, however, they have all declared bankruptcy to their national creditors, the IMF and central bank system. They have been operating in corporate reorganization bankruptcy since their central bank set up shop.

Quote:

Various historical sources state:

In 1871 the default again loomed and bankruptcy was eminent.  So in 1871, the ten miles square was incorporated in England.  They used the constitution as their by-laws. Not as authority under the Constitution but as authority over the constitution. They copyrighted, not only the constitution but also many names such as, THE UNITED STATES, U.S. THE UNITED STATES OF AMERICA, USA and many other titles as their own.  This is the final blow to the original constitution.  From here on out, the UNITED STATES was governed entirely by private corporate law, dictated by the banks as creditors. 

Then, in 1909, default loomed once more.   The US government went to the Crown of England and asked for an extension of time.  This extension was granted for another 20 years on several conditions.  One of the conditions was that the United States allow the creditors to establish a new national bank.  This was done in 1913, with the Federal Reserve Bank.  This, along with the 16th Amendment, collection of Income tax,  enacted February 25, 1913, and the 17th Amendment enacted May 31, 1913,  were the conditions for the extension of time.  The 16th and  17th Amendment further reduced the states power.

In 1917 we were drafted into the First World War.  The debt accumulated so that it became impossible for us to pay off the debt in 1929.  It also enhanced the War Powers Act that President Lincoln put in place during his Presidency by Executive Order.  This War Powers Act was re-enforced and was The Trading with the Enemy Act of 1917. 

The Great Depression:  The stock market crash moved billions of dollars from the people to the banks.  This also removed cash from circulation for the peoples use.  Those who still possessed any cash, invested in high interest yielding Treasury Bonds driven higher by increased demand.  As a result, even more cash was removed from circulation for the general public to the point where there was not enough cash left in circulation to buy the goods being produced.  Production came to a halt as inventory overcrowded the market.  There were more products on the market than there was cash to buy them.   Prices plummeted and industries plunged into bankruptcy, throwing millions more people out of work and out of cash. 

Foreclosures on homes, factories, businesses and farms rose to the highest level in the history of  America.  A mere dime, was literally salvation to many families now living on the street.  Millions of people lost everything they had, keeping only the clothes on their backs.  
 
In Europe, in 1930, the International Bankers declared several nations bankrupt, including the United States. Then in 1933, President Roosevelt was elected and took office.  His first act as President was to declare, publicly, the United States bankrupt.  He further went on to issue his Presidential Executive Order on March 5th, 1933 that all United States Citizens must turn in all their gold in return for Federal Reserve Notes.  This was passed into law by Congress on June 5th, 1933.  

We the People, turned in all our gold at that time.  Why?  Were we United States Citizens?  No.  We were still a sovereign people until that time.  We just thought that we were required to turn in all our gold. Only those people living in Washington, D.C., and the 14th Amendment Citizens were so required.  We were still sovereign.  We were not under the jurisdiction of the United States of America, which incorporated in 1871. 
 
When we turned in our gold, we just volunteered into the jurisdiction of the ten miles square of Washington D.C. and their laws. We became 14th Amendment Citizens. Our birth Certificates, the title to our bodies, were registered in the Commercial Registry. This title to our bodies, all of our property and all of our future labor, was pledged to the International Bankers as security for the money owed in bankruptcy.  This was done under the authority of Commercial Law (Babylonian law) by and through Title. The American People were not in bankruptcy.  Only the Corporate UNITED STATES was in bankruptcy. 

From that day forward, we could never own any property because the state now had possession of it all.  (In 1964, the state obtained title to our property.) We can only rent our homes that we believe we own.  We only have a certificate of title to the car we think we own.  The state owns the true title to our homes and to our cars, to everything we thought or think we own.  You married the state through your marriage license and your children became wards of the state.  You are a Ward of the State. All of this was pledged, including all the fruits of our future labor, to the bankers as security against the national debt and was placed in the possession of  the Secretary of State of  each state as an agent for the Trustee of the Bankruptcy - The U.S. Secretary of Treasury. 

This was further tightened up when we applied for our Social Security number after 1935, by contract which we hurriedly voluntarily entered into, when the Social Security Act was signed into law. Then by many further contracts to be entered into and license to be applied for – all voluntary affairs.

President Roosevelt then called all the Governors into Washington D. C. for a conference.  This was the beginning of the states losing the remainder of their sovereignty.  It was not until 1944 that the corporate states lost all their power over the corporate United States with the Buck Act.  With this Act, the states became, essentially, 14th Amendment Citizens as well.   This completed the destruction of the corporate states having any power to protect against usurpation by the U.S. Government.  The corporate states went under the jurisdiction of Washington, D.C..
 

So the IMF 'owned' all the gold a long time ago. In 1933 they simply stopped letting us 'use' it as money. Instead, since the US govt was in arrears yet again, the friendly bankers offered us a credit line on our labor, and represented the credit with FRNs. The FRN's, what we consider dollars, are a loan - they 'gave' the US credit, but what the US received was DEBT, also known as the National Debt. It may be measured in dollars, but it cannot be paid back with dollars, only labor. Thanks to HJR-192, it's illegal to 'pay' for anything using gold, including the national debt. So, Fort Knox or not, it wasn't even 'our' gold anyway. Plus, it's fucking useless, as it can no longer substutute for labor energy. Makes for some sweet bling, but that's about it.

So, the FRN, or 'dollar' is a contractual obligation redeemable only thru labor. How can a debt 'lose' value? For those who speculate on obligations upholdable by law, or 'securities', some 'promises' can be viewed as 'worth more' than others. In that sense, the dollar 'value' can rise and fall, but in terms of it's 'buying power' the concept is not applicable. Under the bankruptcy process, all the goods, or property, in the country have already been PAID FOR by the nation's creditors. They simply let us 'use' it through exchange of equitible title, also known as a RECEIPT. How do we obtain posession of that receipt? By 'borrowing' against our labor in the form of FRNs.

The US dollar is not 'backed' by 'confidence' at all - it's 'backed' by contractual obligation of performance, under threat of armed reposession of property. IMO, there are much better places to 'store energy' than the gold racket or the currency scam.

I found that looking at this issue in a historical context helps to see the differences between the 'economic' history of the US and the bullshit I was fed in high school.

Quote:
Birds eye View of American History 


Pre 1776 Many battles with England over the money issues: Taxation, Money and Banking 

1776 Declaration of Independence  -- Revolutionary War fought
1777 Constitution for the united States of America
1791 First United States (National) Bank, with 20 year charter
1811 The Original 13th Amendment against Titles of Nobility, proposed and ratified by  most states

1812 War of 1812, England attacks; burns Washington, D.C. and other record depositories
1815 War with England ends, treaty signed 1815, soldiers of England leave with arms 

1813 2nd United States National Bank chartered for another 20 years

1819 After the War, original 13th Amendment ratified by Virginia breaking the 75% requirement: passed 
1828 After severe abuse by bankers Andrew Jackson takes office on promise to route the vipers out 
1832 2nd United States National Bank charter expires
1861-65 War between the States and the Union is fought.  Union wins (U.S. Army)  The original 13th Amendment is forgotten and buried in the ashes of this destructive war
1868 The so-called 13th and 14th Amendments are adopted . . .the U.S. takes over states  

1871 The UNITED STATES is incorporated in England adopting the original constitution, through  the 14th Amendments, as it's by-laws.  (See 41st Congress, Session III, Chapter 61 and 62) Government is shifted to the private sector under private corporate law. However, We The People were still sovereign. 

1868-80 All Union States adopt new legislatively created 'conditions' and 'codify' their laws.  Under federal mandate.  State 'codes' are unlawfully adopted despite their origin. "The purpose of 'Civil Law' is to establish and protect two classes of citizens"
1892 -- Bank 'panics' are caused by demand exceeding supply of lawful funds, etc. as international bankers manipulate credit (Value and Scarcity)  Commerce.  UCC began codification.

1901-15 Large tax-exempt Foundations plot social change and target us for war. JP Morgan captures control of newspapers.
1913-17 The Federal Reserve Act is unlawfully hatched and 'Income tax' is born     
1917-18 World War I -- creates larger debt and lays foundations for WWII
1929 The Bank-led "Great Depression" starts just 15 years into the Federal Reserve Act

1933 FDR takes office as President and issues Executive Orders declaring a 'Bank Holiday

F.D.R.  by Executive Order declares gold (lawful money) ownership illegal (Remember until this time We The People were still sovereign)  Only U.S. Citizens were required  to turn in their gold.
F.D.R. by Executive Order declares the people to be the enemy by illegally altering the Trading With the Enemy Act of 1861, revised 1917
F.D.R. and through Congress H.J.R.-192 declares U.S. bankrupt.
F.D.R. by Executive Order sweeps the Republic into the trash can and declares democracy
F.D.R. by Executive Order (dictatorship) proves himself a traitor to United States Constitution 
F.D.R. initiates socialism (socialism) contrary to well established law, stacks the 1933-38      Supreme Court with democratic liberals and socialists

1933 Registration of Birth Certificates.  Mothers volunteered children into slavery through this registration, giving Title to our bodies to the Commercial Registry

1934 Social Security System established
1938 Erie Railroad vs.Tompkins changes face of justice.  No more common law in federal government.

1940 The Buck Act was passed establishing corporate state governments.  This Act placed the states under the jurisdiction of the UNITED STATES Corporation

1941-45 World War II begins -- tax and spend begins, 'voluntary compliance' is encouraged by Walt Disney's Donald Duck cartoon
1945 Bretton Woods Treaty signed, United Nations Born.

1951 Uniform Commercial Code Adopted in law

1952 54The Korean War  - a can't win war, tax and spend, increase of the debt. 

1958 California Constitution of 1879 completely repealed and replaced legislatively

1964 All remaining States adopt Uniform Commercial Code.  UCC becomes The Law of  the Land


Mr. money thread buzzkill strikes again.

I just think these are important issues for the individual, and this this individual happens to be trapped beneath a pile of history and law books at the moment.
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DrewTerry
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PostPosted: Sat Nov 04, 2006 4:11 am    Post subject: Reply with quote

Quote:
Nixon had no choice but to take us off the gold standard then

Nixon never had a choice.

Kennedy tried to choose - he was to have the US Treasury printing currency directly, without the Federal Reserve, as the Constitution specifies, and they showed him and everyone else who had Presidential aspirations what happens when the President oversteps his "authority."

Lincoln was printing currency, "Greenbacks" to pay for the Civil War, which had the effect of greatly reducing the profitability of that war for the bankers.

In other words, none of the Presidents have ever had a choice and neither do we have a chance to make the right choice.

What to do? I have no idea, but I am confident the answer will present itself when the time is right and to the persons right to act on it. But to plan to fight or anything that fights power with power will ultimately be a losing proposition for the country.

But what about the welfare of the planet as a whole? If the era of evolutionary change is about ETHICS overcoming POWER, which is the elite and seems to be geared up for a fight to hold on to what they have regarded as their birthright for over 250 years, then it makes sense.

Would anyone agree with the idea that in a broad sense we are witnessing attempts to maintain POWER by those who have it? And if so, that it is the ETHICS they have violated that underlies the reason they fear losing?
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MichaelC



Joined: 06 Jul 2006
Posts: 1985

PostPosted: Sat Nov 04, 2006 11:01 am    Post subject: Reply with quote

When in London about 15 years ago I got very close to Her Majesty and her daughter as they were entering Westminster abbey. Very little or no security visible. Anyway, I noticed first that she was quite a bit more attractive in person than in photos but also that her car - a small Rolls or Bentley - bore no lisence plates. It was explained that is because the Queen pays no vehicle or road tax.
But we do because we do not even own the cars that we 'own'?
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Hocus Locus



Joined: 22 Sep 2006
Posts: 847
Location: Lost in anamnesis, cannot forget my way out

PostPosted: Mon Nov 13, 2006 6:43 am    Post subject: Reply with quote

Quote:
in 1981 President Ronald Reagan was convinced to have a look into Fort Knox with a view to re-introducing the Gold Standard. He appointed a group called The Gold Commission. They [The Gold Commission] found that the US Treasury owned no gold at all. All the Fort Knox gold remaining is now being held as collateral by the Federal Reserve against the national debt. Using credits made from nothing. The Fed had robbed the largest treasure of gold on earth.

Quote:
And here’s an alternate answer, the conspiracy theory that keeps coming up in the form of allegations by people like Edward Durrell and Tom Valentine who suggest that the gold from Fort Knox was secretly sold and sent to London by president Lyndon Johnson in 1967 and 1968 to keep the prices of gold stable.

What if both are true? It was spoken for... and then the bastids sold it? LBJ would make a great patsy, being dead and all. Later, the LBJ story planted so even later, it would "resurface" and be "regrettably confirmed"? Perhaps the actual theft could be dated to the emergence of the rumour. Best way to knock off Fort Knox is in plain sight. Such things are physically possible as long as one has 'possession' of something, you know. I learned that from one of my friends who still has possessions. I know I'll hear a rousing chorus from the choir: "Nooo... couldn't be!"

If Crazy Eddie could do it... so could 'they'. And since gold is the corpse of value... that would make us the wealthiest, livliest nation on earth.

I call it "thinking outside the Knox."

___
But what is the robbing of a bank... compared to the founding of a bank?
~Groucho Marx
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