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By Tyler Durden
And so the guns come out blazing. The Clearing House Association, another name for all the banks that were bailed out over the past year with the generous contributions from all of you, dear taxpayers, are now threatening with another instance of complete systemic collapse if Bloomberg's lawsuit is allowed to proceed unchallenged, let alone if any of the "Audit The Fed" measures are actually implemented.
As a reminder, The Clearing House Association consists of ABN Amro, Bank Of America, The Bank Of New York, Deutsche Bank, HSBC, JP Morgan Chase, US Bank and Wells Fargo.
In a declaration filed in the Bloomberg Case (08-CV-9595, Southern District of New York), the banks demonstrate no shame in attempting to perpetuate the status quo with regard to the Federal Reserve and demand that the wool over the eyes of the general population remain firmly planted in perpetuity.
The Federal Reserve Act is Unconstitutional
Prepared by The Constitutional Concepts Foundation
In order to fully understand the following documents there needs to be an explanation of the background behind the case.
Please note that the assignment of the case to Judge Mahoney was through standard lawful practices and that the Chief Justice of the Minnesota Supreme Court assigned an associate justice to assist in the trial
These action give total and complete lawful jurisdiction to the actions of the Court
We will now let the participants set the stage.
THE CREDIT RIVER DECISION
A Minnesota Trial Court's decision holding:
- The Federal Reserve Act unconstitutional and VOID
- Holding the National Banking Act unconstitutional and VOID
- Declaring a mortgage acquired by the First National Bank of Montgomery, Minnesota in the regular course of its business, along with the foreclosure and
- The sheriff's sale, to be VOID
This decision, which is legally sound, has the effect of declaring all private mortgages on real and personal property, and all U.S. and State bonds held by the Federal Reserve, National and State Banks to be null and VOID.
This amounts to an emancipation of this nation from personal, national and State debt purportedly owed to this banking system.
Every True American owes it to himself/herself, to his or her country, and to the people of the world for that matter, to study this decision very carefully and to understand it, for upon it hangs the question of freedom or slavery
Just think how our society would prosper without these large central banks printing money out of nothing. Just imagine if we had a government that relied on the prosperity of it's citizens to function Instead of relying on borrowed money from nothing. The government would actually have a incentive to protect it's own citizenry versus being at silent war with all of us in America. Read article 1 section 8 of the US Constitution then listen to Ben Bernanke saying the fed has powers over Congress .. very sickening ........... END THE FED!
The Financial Parasites Have Killed the American Economy, and They Are Sucking as Much Money Out as They Can Before Jumping Ship
George Washington's Blog
Michael Hudson is a highly-regarded economist. He is a Distinguished Research Professor at the University of Missouri, Kansas City, who has advised the U.S., Canadian, Mexican and Latvian governments as well as the United Nations Institute for Training and Research. He is a former Wall Street economist at Chase Manhattan Bank who also helped establish the world’s first sovereign debt fund.
By Peter Schiff
Ayn Rand wrote, "when you see corruption being rewarded and honesty becoming a self-sacrifice - you may know that your society is doomed."
America is not doomed, but the fellows in Washington are pushing for that outcome. It seems that all the characters that encouraged this financial crisis are being rewarded, and Ben Bernanke's re-nomination is no exception to this rule. He was on the Board of Governors when Alan Greenspan grew our bubble economy. Known as 'Helicopter Ben,' Bernanke was the most vocal supporter of low interest rates to combat the bogus threat of deflation, even if it meant dropping cash from helicopters. He succeeded in his aim – as it is hard for prices to decline while the money supply is growing by double digits.
Of course, much of that new money went into speculative bubbles, first in tech and then real estate. When the misallocation became too great to ignore, the credit markets froze and leveraged institutions started failing. Now, Bernanke says that he doesn't want to preside over another Great Depression. That doesn't mean he doesn't want another Great Depression; he just doesn't want to preside over it. His plan seems to be continuing to print money so that the depression isn't apparent until after he leaves office. However, while Greenspan was able to get out of Dodge, Bernanke will probably not be so lucky, as his reappointment virtually guarantees that he will be in the middle of the action when the bullets start to fly. Left to clean up his own mess, Bernanke will soon regret not quitting while the going was good.
By Nancy Matthis
Congress may confiscate every state pension fund into the bankrupt social security system. Indications that this strategy is being discussed in Washington have come in to us from several sources over the last few days.
Tonight, a correspondent who has just come home from a Tea Party Townhall Meeting in Salado, Texas with US Representative John Carter (R-Round Rock) issued the warning. She said, “Representative Carter informed the crowd that talk has been bandied about Congress to appropriate every state’s pension plans into the bankrupt Social Security System.” She is absolutely 100% sure that she understood him correctly.
Dear readers, please understand that we are bloggers, and not professional journalists. Our information comes from ordinary folk who do the best they can to understand the political scene. Ordinarily, this would seem so outrageous that we would wait to share the news until we could get more clarification. But the current administration has moved with such breathtaking swiftness to federalize private assets and plunge our country into socialism, that we feel the need to sound the alarm, just in case.
We’ll keep updating this post as we find out more.
It’s Not a New Idea
The criminal global banking cartels have destroyed our monetary system by elimating "real paper money" and replacing it with fake paper money.
You'll notice the dollar bill on the top is called a "Silver Certificate." This paper bill was a receipt that could be exchanged ONE SILVER DOLLAR stored in the U.S. Treasury. The idea of the silver certificate is that it could not be printed unless there was a corresponding amount of silver actually in the U.S. Treasury. Sadly, the government didn't actually have a one-to-one amount of silver in the Treasury to back up the Silver Certificates but at least you can see how real paper money is supposed to work.
Click for Larger Image
This is one of those Monty Python sketches that really isn't very funny because it's so true. Bankers are only concerned with one thing, how much can they get and how much can they fleece you. No other value matters to them.
The federal government has devoted $4.7 trillion to help the financial sector through its crisis, a watchdog report said Monday.
Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.
The figures are part of a tough new quarterly report to Congress from special inspector general Neil Barofsky, who accuses the Treasury Department of repeatedly failing to adopt recommendations aimed at making one component of the government financial rescue effort more accountable and transparent.
The $4.7 trillion commitment to the industry equals about one third of the overall U.S. economy and takes into account about 50 initiatives and programs set up since 2007 by the Bush and Obama administrations as well as by the Federal Reserve. Barofsky oversees one of the initiatives — the $700 billion Troubled Asset Relief Program.
This is a beautiful version of "Over the Rainbow" from the Wizard of Oz and a trailer from the new film from the makers of "The Money Masters," "The Secret of Oz."
For those of you who don't know, the story of the Wizard of Oz, written by L. Frank Baum in 1900 is loaded with powerful symbols of monetary reform which were the core of the Populist movement and the 1896 and 1900 president bid of Democrat William Jennings Bryan.
The yellow brick road (gold standard), the emerald city of Oz (greenback money), even Dorothy’s silver slippers (changed to ruby slippers for the movie version) were the symbol of Baum’s and Bryan’s belief that adding silver coinage to gold would provide much needed money to a depression-strapped, 1890s America.
Baum’s symbols represent the only solution to relieve the growing economic hardship here in America – and the rest of the world. Practically speaking, 2009 marks the 70th anniversary of the 1939 MGM release of the The Wizard of Oz movie, so interest will be very high. Even Oz websites put up by kids get millions of hits.