Henry Ford said, “It is well enough that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
We are beginning to understand, and Occupy Wall Street looks like the beginning of the revolution.
We are beginning to understand that our money is created, not by the government, but by banks. Many authorities have confirmed this, including the Federal Reserve itself.
The only money the government creates today are coins, which compose less than one ten-thousandth of the money supply. Federal Reserve Notes, or dollar bills, are issued by Federal Reserve Banks, all twelve of which are owned by the private banks in their district. Most of our money comes into circulation as bank loans, and it comes with an interest charge attached.
According to Margrit Kennedy, a German researcher who has studied this issue extensively, interest now composes40% of the cost of everything we buy. We don’t see it on the sales slips, but interest is exacted at every stage of production. Suppliers need to take out loans to pay for labor and materials, before they have a product to sell.
For government projects, Kennedy found that theaverage cost of interest is 50%. If the government owned the banks, it could keep the interest and get these projects at half price. That means governments—state and federal—could double the number of projects they could afford, without costing the taxpayers a single penny more than we are paying now.
This opens up exciting possibilities. Federal and state governments could fund all sorts of things we think we can’t afford now, simply by owning their own banks. They could fund something Franklin D. Roosevelt and Martin Luther King dreamt of—an Economic Bill of Rights.
The ability of the COMEX commercial crooks to go short in unlimited quantities and the ability of these crooks to game the leveraged longs are the precise mechanisms behind the silver manipulation.
Wall Street and the large banks control congress and the precious metals pricing. The ability to borrow endless amounts of dollars (via deficit spending and Treasury sales) is what gives our politicians power. Both Wall Street and government need to perpetuate the dollar and need to discredit gold and silver. There is no government oversight in the gold and silver markets. The big banks (JPM and HSBC) and the CME are allowed to do as they please. Margins are increased in order to favor those of their buddies who are short, and to rape those funds and investors who are long. Butler and Chapman have called attention to these policies for years and nothing is done to stop the abuses.
What does gold want to do – go up or go down? Gold has essentially gone nowhere in the last three days. So you sit there, confused and waiting for a signal and do nothing. That is exactly what they want you to do – nothing. In the meantime you stay in dollars.
Fortunately, we do not have to rely on congress or the CFTC to set things straight. The Chinese and Indians are doing it for them. Every time the Cartel forces prices lower on the Comex, the Chinese and Indians move in with large orders for PHYSICAL gold and silver and the prices revert back to where they were and continue to climb. The free market is working. As Butler points out, it would be better if Comex totally got out of the gold and silver paper markets. All that they accomplish is to put a cap on the price of gold and silver. But as you have witnessed for the last decade, their raids have done nothing to stop the ongoing bull market in the metals and the erosion of paper currencies.
I know that it gets confusing for you. It gets confusing for me too, sometimes, until I step back and realize that all of the back-and-forth movement in the Dow, gold and silver is just “noise.” Nothing much is changing. Up one day, down the next, back up the next. The markets are rather “spinning their wheels” and that makes investors unsure of what to do and what to believe. That is why I am constantly asking you to focus on the Big Picture and to ignore the day-to-day noise of the markets. Just look at the following gold chart and try and make sense out of what is happening.
What does gold want to do – go up or go down? Gold has essentially gone nowhere in the last three days. So you sit there, confused and waiting for a signal and do nothing. That is exactly what they want you to do – nothing. In the meantime you stay in dollars.
A few days ago I wrote that gold has to close above $1,690 for a day or two and then you can feel safer that the recent takedown is behind us. At the close today, gold is only $15.50 away. Silver has to close above $32 and silver is $32.58 right now. Let’s hope that the worst is behind us here too. However, Richard Russell isn’t so sure. (Read his comments below)
The following is a letter released today by Lloyd Blankfein, the chairman of banking giant Goldman Sachs:
Dear Investor:
Up until now, Goldman Sachs has been silent on the subject of the protest movement known as Occupy Wall Street. That does not mean, however, that it has not been very much on our minds. As thousands have gathered in Lower Manhattan, passionately expressing their deep discontent with the status quo, we have taken note of these protests. And we have asked ourselves this question:
How can we make money off them?
The answer is the newly launched Goldman Sachs Global Rage Fund, whose investment objective is to monetize the Occupy Wall Street protests as they spread around the world. At Goldman, we recognize that the capitalist system as we know it is circling the drain – but there’s plenty of money to be made on the way down.
The Rage Fund will seek out opportunities to invest in products that are poised to benefit from the spreading protests, from police batons and barricades to stun guns and forehead bandages. Furthermore, as clashes between police and protesters turn ever more violent, we are making significant bets on companies that manufacture replacements for broken windows and overturned cars, as well as the raw materials necessary for the construction and incineration of effigies.
It would be tempting, at a time like this, to say “Let them eat cake.” But at Goldman, we are actively seeking to corner the market in cake futures. We project that through our aggressive market manipulation, the price of a piece of cake will quadruple by the end of 2011.
Please contact your Goldman representative for a full prospectus. As the world descends into a Darwinian free-for-all, the Goldman Sachs Rage Fund is a great way to tell the protesters, “Occupy this.” We haven’t felt so good about something we’ve sold since our souls.
Gerald Celente - The Regular Guys – 24 Oct 2011 : there is no saving the system not as long as they continue the policies that they do …the whole system is corrupt from top to bottom , Gaddafi was hot o Condoleza Rice , what it all boils down to regarding the protests is just a lot of angry people as the system is rigged , the big guys can get away with everything that’s what makes people angry explains Gerald Celente , these banks are ripping off everybody not one head rolls.
Kerry Lutz Exclusive Interview with Darryl R. Schoon 10-5-11
Kerry Lutz Exclusive Interview with Darryl R. Clean 10/05/11
~It’s been there since 1987~we’re just a tad bit late…lolll~jude
Protesters in Seoul, Hong Kong and Manila join global demonstrations supporting Occupy Wall Street movement.
Occupy Movement protests spread in Asia on Saturday with anti-capitalism demonstrations held in Seoul, Hong Kong and Manila.
The message of the months-old Occupy Wall Street movement in the U.S. is resonating in Asian cities, where protesters are saying the rich-poor gap is widening due to economic policies that favour big corporations.
In South Korea s capital Seoul, dozens of protesters gathered in front of the country s Financial Advisory Service to express their solidarity with the Occupy movement. The protesters held up placards, chanting “We re 99%,” echoing the Occupy Wall Street slogan.
The South Korean protesters urged the government to enact policies that support victims of what they called “greedy” financial institutions.
Some angry protesters struggled with police as they attempted to post stickers reading “business will be suspended” on doors of the Financial Advisory Service to express their rage against the government.
They said the country s top financial watchdog had close ties with the wealthy, while neglecting to protect people from what they said was “exploitation” by big banks and corporations.
In Hong Kong around 200 protesters gathered outside the stock exchange in the heart of the financial district.
They brought up a range of issues ranging from capitalism to nuclear power.
One activist said the staggering rich-poor gap in Hong Kong is one example of the flawed global financial system.
The activists also proposed a more equitable tax system. Some protesters said they planned to remain there until the stock markets open on Monday.
In Manila, dozens of left-leaning activists marched to the U.S. Embassy on Saturday in support of the Occupy Wall Street movement. The protesters were prevented by local authorities from approaching the embassy gates.
They held placards and streamers, expressing support for the growing Occupy Wall Street movement, and echoed the U.S. protesters disdain for the global financial system.
The Filipino activists said only 1 percent of the population benefited from big businesses, while the rest are falling deeper into poverty.
Protesters urged a change in the financial system, and in Philippine laws which they say should give workers more protection to help them weather economic crises.
Occupy Wall Street, a movement which was started last July by a Vancouver-based group called Adbusters, has spread across the US, with meet-ups being posted in social networking sites to condemn economic inequalities and widespread poverty blamed on flawed financial institutions.
Violence broke out in Rome, where protesters smashed shop windows and torched cars.
A fesh report said the “Occupy Wall Street” protesters have attacked and damaged Italian defence ministry building.
Tens of thousands nicknamed “the indignant” marched Saturday in European cities as protests against capitalism and austerity measures went global.
The “Occupy Wall Street” protests that began in Canada and spread to cities across the U.S. moved Saturday to Asia and Europe, linking up with anti-austerity demonstrations that have raged across the debt-ridden continent for months.
Black smoke billowed into the air in downtown Rome as a small group of violent protesters broke away from the main demonstration. They smashed car windows, set vehicles on fire and assaulted two news crews of Sky Italia, the TV reported. Others burned Italian and EU flags.
Police were out in force in Rome, which expected up to 100,000 protesters a day after Premier Silvio Berlusconi barely survived a confidence vote. Italy, with a national debt ratio second only to Greece in the 17-nation eurozone, is rapidly becoming a focus of concern in Europe s debt crisis.
“People of Europe: Rise Up!” read one banner in Rome. Some peaceful demonstrators turned against the violent group and tried to stop them, hurling bottles at them, Sky and the ANSA news agency reported. Others fled, scared by the violence.
Around 4,000 people marched through the streets of Berlin, with banners that urged the end of capitalism. Some marchers scuffled with police as they tried to get near the country s parliamentary buildings. In Frankfurt, continental Europe s financial capital, some 5,000 people protested in front of the European Central Bank.
Wikileaks founder Julian Assange spoke to 500 demonstrators outside St. Paul s cathedral in London.
“The banking system in London is the recipient of corrupt money,” he said, adding that Wikileaks would launch a campaign against financial institutions in the coming months.
Assange is on bail as he fights extradition to Sweden, where he is wanted for questioning over claims of rape and sexual molestation made by two women.
In the Bosnian city of Sarajevo, hundreds walked through the streets carrying pictures of Che Guevara and old communist flags that read “Death to capitalism, freedom to the people.”
Another 500 people gathered to hear speakers denounce capitalism at a peaceful rally in downtown Stockholm, holding up red flags and banners that read “We are the 99 percent” and “We refuse to pay for capitalism s crisis.”
The reference was to the world s richest 1 percent, who control billions in assets, while billions around the world live in poverty or are struggling economically.
“There are those who say the system is broke. It s not,” trade union activist Bilbo Goransson shouted into a megaphone. “That s how it was built. It is there to make rich people richer.”
In Spain, groups that became known as the Indignant Movement established the first around-the-clock “occupation” protest camps in cities and towns across the country beginning in May and lasting for weeks. Six marches are set to converge Saturday on Madrid s Puerta del Sol plaza just before dusk.
Portuguese angry at their government s handling of the economic crisis are protesting in downtown Lisbon later. Portugal is one of three European nations the others being Greece and Ireland that have already needed an international bailout.
A group of 100 prominent authors, including Salman Rushdie, Neil Gaiman and Pulitzer Prize-winning novelists Jennifer Egan and Michael Cunningham, signed an online petition declaring their support for “Occupy Wall Street and the Occupy Movement around the world.”
Turnout was light in Asia, where the global economy is booming. In Sydney, around 300 people gathered Saturday, cheering a speaker who shouted, “We re sick of corporate greed! Big banks, big corporate power standing over us and taking away our rights!”
Only 200 people protested in Tokyo, marching outside the Tokyo Electric Power Co., which operates the tsunami-hit Fukushima Dai-ichi nuclear plant, chanting anti-nuclear slogans.
“No to nuclear power!” marchers chanted as they held up banners.
In the Philippines, about 100 people marched on the U.S. Embassy in Manila to express support for the U.S. Occupy Wall Street protests and to denounce what they called “U.S. imperialism.”
In Canada, protests were planned in Montreal and Vancouver as well as at the country’s main stock exchange in Toronto.
Breaking News Alert The New York Times Thursday, October 13, 2011 — 11:25 AM EDT
The fallen hedge fund billionaire Raj Rajaratnam received on Thursday the longest-ever prison sentence for insider trading, a watershed moment in the government’s aggressive two-year campaign to root out the illegal exchange of confidential information on Wall Street.
Judge Richard J. Holwell sentenced Mr. Rajaratnam, the former head of the Galleon Group hedge fund, to 11 years in prison. A jury convicted him of securities fraud and conspiracy in May after a two-month trial.
Calling him “the modern face of illegal insider trading,” prosecutors accused Mr. Rajaratnam of using a corrupt network of well-placed tipsters – including former executives of Intel, I.B.M. and the consulting firm McKinsey & Company – to illicitly gain about $64 million.
COMMENT: Is American finally waking up? EVERYTHING this kid said is correct. EVERY GODD@MN WORD. Yet Most Americans have been asleep for too long and allowed the systematic destruction of their country to continue – while they watched Monday Night Football, or American Idol. The time is up. The complete and utter destruction of our Nation is at hand. And the politicians and bankers conspired in backrooms to make it happen. The question is now, what are WE going to do about it?
NEW YORK (The Borowitz Report) – In what stock market analysts are pointing to as a rare bright spot in an otherwise gloomy period for Wall Street, manufacturers of downward arrows posted record profits this week.
While makers of cars, computers, farm equipment and practically everything else saw their fortunes plunge this week, producers of downward arrows notched double-digit gains, inspiring investors to snap up their shares like never before.
Companies like National Plunging Arrow Corp and Consolidated Downward Pointy Lines saw their shares rocket as investors rushed to participate in the suddenly red-hot red-arrow sector.
“We are seeing investors move out of Treasuries and gold and into downward-arrow stocks,” said analyst Harland Dorinson, who covers plunging trend-line manufacturers for Morgan Stanley. “At a time when the world is facing extreme uncertainty, the one thing we know for sure is that going forward there will be strong demand for downward pointy things.”
But the euphoria surrounding the plunging arrow sector may be short-lived, as some analysts caution that that investors’ mania for downward arrow stocks may be a bubble, with others warning that downward arrows are increasingly being manufactured in China, where the arrows are mass-produced using far cheaper labor.
For his part, though, Morgan Stanley’s Dorinson sees a silver lining in such gloomy forecasts: “Even if people wind up losing billions of dollars investing in downward arrows, you know what? There’s only one way to show that.”
~This is very interesting and fits in with history as foretold by the ancients~jude
By David Knox Barker
Life without appreciation for irony in global financial, economic and political affairs would be challenging. God undoubtedly enjoys the irony at work in human action. Politicians promising government sponsored heaven on earth for decades have delivered the world into a global financial meltdown nightmare, and the cusp of another depression. All around the world, the politicians are scrambling for their political lives, and many their political souls, as the global system enters a long wave extinction event.
The final plunge of this long wave winter season is now underway. The international political economy, which has lost its moorings in individual accountability, responsibility and purpose, is breaking up. Socialism in all its forms, including the global banking system that is dependent on the government dole, is collapsing from the weight of its internal contradictions. Socialism is going through an extinction event in the final years of this long wave, receiving its just reward from the crushing long wave forces that it has magnified around the globe.
