Archive for federal reserve
The downward spiral of our ‘recovery.’
As if we didn’t notice all by ourselves, we are told by the media that ‘inflation is getting uglier and uglier.’
The also tell us that inflation is 4.2% and THIS is how they arrive at that number. You see if YOU can work the figures out.
The index for fuel oil rose 10.4% in May (2007) and soared 64% over the 12 months. The gasoline index rose 5.7% in May and surged 20.8% on a year-over-year basis. The index for natural gas rose 5.6% in May, and was up 16.5% over the last year.
Tossing us a bone, we are told:
“These (CPI) numbers are nowhere near to what we’re seeing in the real world,” said Peter Beutel, energy analyst for Cameron Hanover, who believed the “real” cost of living has increased at a higher rate than the index shows. “But even these diluted numbers are showing that inflation is getting uglier and uglier and uglier.
I say that we are being ABUSED.
Bernanke hoped his statements to the global bankers would shore up the value of the dollar. Funny how that works, only NOW do lies not actually translate into confidence.
Bernanke devoted most of his speech to a candid review of what he doesn’t know. He isn’t really sure of the effect of commodity prices and rising wages on inflation, and “there is much we do not understand about inflation expectations”. Not much reassurance there for those who think the Fed chairman’s hand is firmly on the tiller, steering the economy between the twin shoals of inflation and recession.
The gods want human sacrifice in retribution for the boom period.
According to Roben Farzed of Business Week, about Lehman Brothers MASSIVE losses:
Wall Street is a merciless place. And it almost helps to use the angry god imagery of old Aztec lore. At the end of every boom cycle, the gods are very angry. And not only do they want layoffs, but assets and entire firms to be sacrificed, kind of as retribution and as indication of the creative destruction.
My guess is, they just didn’t get enough wealth off of YOUR back.
With Katrina STILL in catastrophe mode, STILL vulnerable to more storms, tens of thousands (if not hundreds of thousands of people STILL unable to come home, have a home to come to; with Iowa flooded nearly from stem to stern and FEMA and DHS nowhere to be found; with 1 out of 100 homes being foreclosed upon; the Federal Reserve JUST HAS TO SAVE THE CRIMINAL BANKERS FIRST, last and always.
There is NOTHING for you, out of YOUR TAX DOLLARS, except further losses. Oh, and that pittance of a loaner ‘refund’ to you that didn’t even cover the increased costs of your gasoline this past year.
About that miraculous boost in your income they say:
All this adds up to an economy that is treading water but not sinking. The stimulus checks have given the economy added strength, but when that temporary boost wears off, its ability to stay afloat will depend on an easing of petrol prices, a recovery of house prices and sales, continued recapitalisation of the banks, and consumers’ willingness to continue spending, which in turn will depend on a strengthening labour market.
The social contract Americans have with the Federal Reserve is that they will manage the money, and the economy, well. For the benefit of AMERICA and AMERICANS. This ‘trust’ provided the opening for opportunists of all types to take advantage, with the added abuse and insult of our own ‘representatives’ giving this PRIVATE CORPORATION even more power and control over the entire economy of America. Our ‘representatives’ only make the matter worse, diverting blame for their own incompetency, focusing on things that make no difference at all, and IGNORING the few who REALLY DO know economics and can resolve the situation.
Job losses are extreme, with as we know, at least another 52,000 major jobs being lost in the near future, but this is what we are told:
Payrolls sink in February, fueling recession anxiety. Unemployment rate declines, but that’s because there are fewer people in the workforce. (???)
Where did those people go? Died of exposure?
and in the same article this:
There was a net loss of 63,000 jobs, which is the biggest decline since March 2003 and weaker than the revised 22,000 jobs lost in January. Economists had forecast a gain of 25,000 jobs.
Yes, the new social contract in every respect is abuse. In politics, in society, in economics Americans are being used, abused, lied to, sucked dry, and tossed out in the streets. While we pay taxes like never before in history, our people get no help when disaster strikes. We cannot get health care. We cannot even get the truth.
What will happen to YOUR life when oil is $250 a barrel, meaning that your money is worth about half of what it is now, while the costs for EVERYTHING go up another 64%?- pardon me, 4.2%?
“It would be a disaster for all the oil-importing countries, all the democracies and China,” says James Woolsey, the vice-president of consultant Booz Allen & Hamilton.
“And it would be hugely beneficial for the many monarchies and dictatorships that are the main suppliers.”
Some investors are already betting on Mr Miller’s forecast.
However at US$ 250 a barrel, “there would be a massive shutdown of companies”, says Carlos Mattei, procurement vice-president for glassmaker Vitro SAB.
And big companies would be nationalised.
The absolute bottom line of inflationary depression. All unnecessary. All to make a few incredibly rich. Is that NOT abusive?
Ron Paul’s predictions are all coming true. Here is a particularly unfortunate one.
It took long enough, but perhaps sooner there wasn’t enough economic misery among the American people to accept this plan as a good idea. It may not be enough misery yet, but to float this idea now, before the economic collapse and/or inflationary depression actually hits, makes it look like the Fed is ‘ready’ and prepared to ‘help’ us.
The NY Federal Reserve President, Timothy Geithner, has obliquely announced the benefit of, and the intention for, a global reserve bank. Of course, he has his own interests, as being the key architect of the HUGELY EXPENSIVE Bear Stearns bailout implies. For the Fed, financial structure over any other interest, any other consideration, is critical, particularly if your goal is to have ONLY ONE GLOBAL BANK.
In what can ONLY be construed as a complaint, given the unbelievable authority over all things economic that our so-called ‘representatives’ just gave the Fed,
“At present the Fed has broad responsibility for financial stability not matched by direct authority and the consequences of the actions we have taken in this crisis make it more important that we close that gap,” Mr Geithner says, in an excerpt of a speech to be delivered today at the Economic Club of New York.
A global bank will need to have assets to back up their system- destroying all the savings, acquiring through foreclosure millions of homes and business properties, buying up assets for pennies on the dollar, ALL ON AMERICAN TAXPAYER FUNDS, explains the flaccid impotence of Bernanke to act in such a way as to protect the American dollar, American assets or the taxpayer financed banking structure.
The ONE WORLD GLOBAL BANK is coming, at YOUR expense. You won’t have any assets left to provide for yourself, your children, your retirement. There will be NOTHING except a depression so great that unless we accept the electronic Amero (or other global currency) funds made available only through implantable electronic RFID chips, you will most likely die of starvation, homelessness or imprisonment.
Welcome to the fruits of the Federal Reserve Banking system.
Federal Reserve being given more power, though it is shown to be in collusion with the bankers- creating inflationary bubbles and destroying the economy AND the dollar… as Glen Beck says, we’re just moving around the deck chairs on the Titanic, but taking on VAST additional debt.
A rumble across America- The Scars: You’re losing your job, you’ve lost your equity, you’re losing your house, your neighborhood looks like a war zone of abandoned properties, and you’ve just gotten your property tax bills. Your local animal shelter is begging for food donations for all the family pets that have been dropped off by people who have lost everything. Your utilities and food have skyrocketed in price.
Scapegoats: You are told to ‘re-evaluate’ your standard of living (silly you- time to get a grip on reality), and ‘don’t blame Wall Street’, and of course, ‘buy buy buy’ stocks which are at a ‘bargain basement price.’ You’re told you were an ‘irresponsible borrower’ getting more house, and more mortgage, than you were ‘supposed’ to. Oh, and, the reminder that the FDIC insures your savings (like they didn’t when the S & Ls fell where the RICH got paid off and many regular folks didn’t).
But the SHADOWS! The Federal Reserve, in secret emergency meetings, agreed to BAIL OUT one of the corporations that sucked down YOUR money like it was Starbucks mochas, but now the truth of their practices is costing us all BIG. But the rich aren’t happy with a bailout, funded by YOU, obligating YOUR CHILDREN’S FUTURE earnings-
Why should the shareholders pay the risk of the investment??? Why should THEY do without their lattes and sushi, their Givenchy and yacht parties? It wasn’t THEIR fault, was it?
Yes, the rumbling by the taxpayers across America is growing and taxpayers have decided to STRIKE.
April 15 is TAX DAY, our own Skull and Bones day, where you get to see how much the rich have sucked YOU dry, at the expense of your labor, your children’s well being, your equity, your retirement, and people want to know: WHERE IS OUR BAILOUT???
A WORLDWIDE TAX DAY PROTEST IS PLANNED.
WE ARE ENCOURAGING EVERYONE TO CALL IN SICK TO WORK THAT DAY. (DON’T ARRANGE FOR IT OFF)
DITCH SCHOOL, LEAVE YOUR HOME. IF YOU OWN A BUSINESS CLOSE DOWN THAT DAY.
WE ARE ENCOURAGING EVERYONE TO PULL ALL OF YOUR MONEY OUT OF YOUR BANK SEVERAL DAYS BEFORE APRIL 15TH AND KEEP IT OUT UNTIL AFTER APRIL 15TH.
DO NOT BUY ANYTHING THAT DAY. NO GAS, NO FOOD, NO FAST FOOD, NOTHING!!
You will see some of them at the post offices. Others will just be quietly weeping at the condition of their families at home. And we haven’t even reached HALF of the loans that will be foreclosed, yet.
How much do you have to lose before you take action? How much do you have to lose before you can’t take it anymore? There are FAR MORE people, honest, hard-working people who have ALREADY lost it all or are facing that prospect within days or weeks. But, of course, the government and the rich will STILL get their share out of you. What are you, a sharecropper???
You may not want to ‘rock the boat’ now, but it won’t be long before this economic collapse catches YOU in its undertow. Will you have done ANYTHING to stop it? No?
So the stocks went up today on news that the Federal Reserve is DUMPING another $200 billion into the economy! Good news all around, right? Why would Ron Paul be so negative about this?
Of course the stock market is happy- its ONE MORE OPPORTUNITY to suck money from YOU, get its FULL VALUE, before it increases the prices of everything you want to buy. They get full value, but by the time the money gets to you, through normal economic means, the extra money given will actually DECREASE THE VALUE of the money you just worked your butt off to get!
Of course Ron Paul is negative about this. It is we, the people, who suffer from such obviously evil and deliberate greed. It is us that pay the price as our personal economies get worse and worse.
Just a few days ago, it was reported: “In conjunction with the banking system’s solvency crisis, the market and economic circumstances have the broad financial system facing its greatest risks of instability or outright collapse in modern times…the Federal Reserve will spend every dollar it needs to create in order to prevent the financial system from collapsing. A systemic failure is not an option for the Fed, and any needed bailouts will not be limited to large banks…much of the salvage operation may be covert. Not to do so would promise a deflationary great depression…Unfortunately, however, the eventual result of the great bailout will be a hyperinflationary great depression…” (emphasis added) shadowstats.com, Alert, March 5, 2008″
Therefore, as mentioned above, much of this was going on covertly; as Ron Paul discusses with Neil Cavuto, other countries were forced to deflate the value of their own currencies to try to keep the playing field ‘level’ and it is altogether just another round in the deliberate project to destroy the American economy.
In the exchange between Ron Paul and Ben Bernanke, the Fed admitted to the uselessness of its ploys, because it simply wasn’t possible to dissimulate when speaking to the Congressman.
“GATA hit the nail right on the head when it said that The Fed’s actions were “expropriating savers even more to rescue the banks and financial houses that lately defrauded the world with The Fed’s connivance.” ”
These games are well known to the Federal Reserve, and while it is so easy to claim that Bernanke is simply incompetent, we have to remember that there is SOMEONE, not our government, who is paying his salary. He, like the rest of the sock puppets on display, is doing what HE IS TOLD TO DO.
This, in spite of the fact that these decisions put him, and the Fed, clearly in opposition to what is good for America, for our economy, for the citizens. Only Ron Paul seems to understand this.
These people are clearly on a path to take us DOWN, in a hyper-inflationary depression nightmare with no end in sight.
What Bernanke has done is bought a little ‘time’ for the powers that be to get the rest of their ducks in a row. For us, it would be better that the collapse happened sooner, rather than later, because the LAST THING we want is for all those ducks to actually be in a row!
I had the benefit of knowing a family who immigrated from Russia some time after the economy collapsed there. I asked the wife: “What did people do when that happened? People MUST have lost their houses, their jobs, their property!”
Her answer was that people just ‘stayed put.’ Not only did no one have any money to move, the authorities had no money to remove people. There was no money to foreclose or repossess.
Last year, our dollar was worth $.04 of what it was when the gold standard was dropped.
Where can it go except to $.00 with all these fabulous moves of our government to send us back, temporarily, a little money; with Bernanke creating more inflation with drops in interest; with the government pumping Russian money into our economy by selling off assets?
When we hit ZERO, we are bankrupt. I suggest we’re there already, thanks to these recent ‘solutions’.
We’ve been told for years that change would mean some pain and sacrifice, and because of that there was no political ‘will’ to force those changes.
We’re now facing the kind of pain that the world has never experienced before.
Too bad people are more interested in voting for a rock star like Barak Obama, who is entirely ignorant of economics and wants to add unbelievable amounts to our current spending instead! Where, exactly, will he get that money from?
We need someone who understands economics, like Ron Paul, who is also courageous enough to tell us that, one way or another, there will be pain. Healing pain, or catastrophic death-dealing pain- we’re going to get one or the other.