Frederick Douglass

"Power concedes nothing without a demand. It never did, and it never will. Find out just what people will submit to, and you have found out the exact amount of injustice and wrong which will be imposed upon them..." Frederick Douglass

Sunday, November 14, 2010

The Grand Deception ( part two ), The "F" Word

Why is it that people cannot believe their own eyes, particularly when they've seen it all before? Why can't they believe what is happening right under their noses? If one studies the history of the United States, one will learn that there has been a never-ending struggle between the international banking cartel and the duly elected government of this country, between private and public power. The conflict began even before George Washington was sworn in as the first president. According to Ben Franklin, the revolution was not the inevitable consequence of the Stamp Act or taxes on tea or whiskey, but rather the result of Britain's outlawing of the colonial currency ( Colonial Scrip ).[1] Such hardship followed from a lack of cash and credit, Franklin insists, that the colonists had little choice but to rebel.

Alexander Hamilton, the cartel's man, argued for the creation of a privately-owned central bank, modeled on the Bank of England, to set and regulate the new nation's monetary policy. Jefferson and Franklin roared in protest but were defeated by the banker's bottomless pockets. Franklin was so averse to the bank that he even supported deportation of all Jews then in the colonies and a ban on further Jewish immigration.[2] Alas Hamilton and his faction prevailed, the U.S. had defeated the British Army, but lost to its bankers. The bank was born, with the Rothschilds in firm control.

The bank's charter ran twenty years. When it expired, President Madison vetoed the renewal bill. Congress then tried to override Madison, and the scandal that resulted has been the subject of much acrimonious debate since. In the British Parliament, Madison was accused, and not without some justification, of violating his own Constitution to defeat the bank. The upshot was the War of 1812. Britain's bankers were by then so powerful that they were directing Britain's foreign policy, and had been since Walpole assumed control of the British government in the wake of the South Sea Bubble scandal, another banker scam. Once again we had won a war against British soldiers, but lost to their money-lenders.

After the war, Madison inexplicably reversed himself and agreed late in his second term to a new charter for a national bank. Certain reforms were enacted, but it was to no use. Once again the same British bankers as before gained control of the new bank.

When the new bank's charter came up for renewal, President Jackson declined in the most undiplomatic of terms. He referred to the its owners as snakes and vultures and shameless con men and profiteers. All true, of course, but such rhetoric plunged the bank and Jackson into a conflict which divided the nation and paralyzed the government. Much of the correspondence of the bank's head, Nicholas Biddle, survives to this day. In it he threatens that if the government doesn't renew his bank then he would be "forced" to pursue a policy of contraction. By this he meant that the big banks would hoard the nation's money supply, just as they are doing today, and plunge the country into unemployment and recession.

This they did. This time, however, it back-fired on them. As the economy got worse and worse, popular opinion sided with Jackson. Those Congressmen who were on Biddle's payroll began to complain that they would lose their seats if they continue to support the bank. Eventually the Rothschilds called an end to the war as the recession had begun to hurt their other business interests. Jackson, and the people, had finally triumphed over the cartel. Unfortunately, the bank was rechartered as the Federal Reserve Bank in 1913, and the cartel became our masters once again.

Since Jackson, five presidents have taken on the big banks: Lincoln, Garfield, T. Roosevelt, F. Roosevelt, and Kennedy. All were shot at, three were fatally wounded. Coincidences all, I'm quite sure.

There was an attempt to overthrow FDR and install a Fascist dictatorship in his place.[3] According to documentary filmmaker Adam Curtis, this effort was led by Prescott Bush, son of Samuel Bush, grandfather of George W. Bush.[4]

Biddle's creating a depression is by no means unique, there have been many bank-induced financial crises since. Among the more important are 1837, 1857[5], 1873, 1893, 1907, 1929, 1937, 1973, 1993, and 2008. There is an enormous amount of literature on how J. P. Morgan, American representative of the Rothschild banking dynasty, manipulated bond prices and money supply to bring about the economic collapse of 1907. One cannot take an Economics 101 class in an American university without learning about it. The same is true for the other depressions, if to a lesser degree. Even Milton Friedman, maven of the Rockefeller-founded University of Chicago School of Economics and zealous advocate of the banking establishment, admits that the Great Depression was caused by the Federal Reserve Bank's policy of contraction.[6]

Even no less a revered figure than Winston Churchill has written about banker manipulation of the economy. When he visited New York in '29 during the stock market collapse, Bernard Baruch took Churchill onto the floor of the exchange. The Brit looked around at the harrowed faces and the frantic selling and commented to his companion about how horrible it all was. Not to worry, Baruch counseled him, "we made this happen, and we'll make it stop at the appropriate time."[7]

What is astounding to me is that with all the information available about the subterfuges these banks and their servants in government have perpetrated, one is still met with outrage, even contempt, if one dares to use the "f" word--fraud.[8] "yes, well, that might've happened in the past, but it's not possible anymore...with people suffering the way they are, your wacky conspiracy theories are not helping."

Why is it so hard for people to believe that what is happening is what was intended? As we know it has been so many times in the past? Was it really so hard for the Fed to realize that uncollectible mortgages, used as collateral for securing credit, and bundled, tranched, traded, sold, and optioned by private corporations ( hedge funds ) of unknown ownership, in a secret and unregulated derivatives market, might lead to mass bankruptcy? Is Alan Greenspan really as stupid as he now claims? I don't believe it, and in this series of articles I hope to convince you that what we are witnessing is fraud, a criminal conspiracy with you and me as the intended victims.

Yesteryear's wacky conspiracy theories are today's documented facts. Meredith Whitney, bean-counter for Rockefeller-owned Citigroup, shook up Wall Street when she became the first analyst to issue a dire assessment of the sub-prime mortgages and their derivatives. When she did, she fired, no doubt unwittingly, the first shot in the banker's war against working-class people like you and me. Her warning, that Citi' was going to have to cut its dividend [9] or face the possibility of bankruptcy, launched a sequence of predictable events which has led to an enormous transfer of wealth and power, unprecedented in its size and scope, from working people up the food chain to the richest families in the world.

In the next few installments of this series, I will describe the specific events, in roughly chronological order, that precipitated the collapse. I will talk about the specific banks and hedge funds which are involved. I will explain in simple terms just what these derivatives are and how they were used to bring down the economy. And I will talk about who owns these banks and funds, and just how they profited from our misery.

[1] From his autobiography

[2] This is inexcusable of course, but in fairness to Franklin banking and money-lending were still quite controversial in his day, and were dominated then, even more than now, by Jews.

[3] The Plot to Seize the White House, by Jules Archer.

[4] Here's a blog with many relevant links:
And here is a short video in three parts which touches on Prescott Bush's
Unfortunately, I cannot find Curtis' documentary on line anymore.

[5] This one bankrupted the Federal government just before the cartel-financed secession by the South.

[6] In his autobiography Friedman insists that this was due to incompetence rather than criminality. Uncle Milty and I don't have much in common, but the one thing we do share is that neither of us believe a word of that.

[7] From his autobiography ( One of them anyway )

[8] [watch top video and the scroll down to conclusion],,,,

[9] Simple explanations for financial terms will be provided in the next article in this series.