Fed Bash...er, Questioning Thread

Discussion in 'Economics' started by Good1, Mar 8, 2012.

  1. Good1


    Ahead of Ron Paul's final run for the presidency, and ahead of the next great Occupy Wall Street protest, i'd like to kick off a thread that questions everything about the Federal Reserve System.

    I'd like to throw Is the Fed a Failure? into the discussion.
    I'd also like to throw in PAGE, Silver and True Price Discovery.
    Plus, gotta hear from Ron Paul himself, Fed Up with the Fed
    Yes, it looks like 'Occupy' is starting to focus on the proverbial eye at the top of the pyramid:

    Wall Street Protesters Target Federal Reserve
    Occupy Chicago Camps Out at Federal Reserve Bank

    This article, Enjoy the Central Bank Party While It Lasts suggests it's just a matter of time before it all implodes anyway.

    I hope this thread can be educational and informative.

    For example, i wanted to know, WHAT WERE THEY THINKING! ...when they re-introduced, for the third time in US history, this type of banking, despite lessons learned (not learned?) since Andrew Jackson ended the last system (after an epic conflict) in 1835. Turns out they had a congressional hearing for a few months prior to it's implementation over objections by such cautionary lights as Charles August Lindbergh Sr. You have to read, or read about the Money Trust Investigation also called Pujo Committee “Money Trust” Wall Street Banking Cartel Investigation 1912-1913to start to get a grasp of what they may have been thinking as they pondered such momentous legislation.

    Believe it, they determined there was an undesirable "trust" (kind of like a monopoly among a small cabal of players) that owned about 22 BILLION of Wall Street's 24 BILLION in total stock market capitalization. At the head of that cartel was J.P. Morgan who seemed to enjoy everybody's love, or everybody's hate, or both. I see the nation at that time as schizophrenic. 1913 saw legislation that outlawed trusts (anti-trust legislation), and yet, with the Federal Reserve Act implemented exactly that; probably the world's most obvious (if not monstrous) monopoly to date.

    What i can't figure, is how, because they felt they had problems with an accumulation of power in the hands of a few, they thought the solution involved deliberately putting enormous, non-transparent, power in the hands of a few! It seems that everyone was enamored with (under the spell of?) J.P. Morgan, that financial titan who seemed to save the nation in the panic of 1907. The idea, apparently, was that if ever there was another panic, they wanted to have someone around like J.P. Morgan to make things right somehow. The Federal Reserve System, then, could be viewed as our own - pet - J.P. Morgan that we keep around for rainy days like 1907. Most recently, Ben Bernanke played that role, saving us from 2008, 2009, 2010, and 2011!

    How has that worked out for you? Well, if you are on the top tier, it's probably been working out fine...but at the expense of the middle and bottom tiers. According to a quote from Quotes On Banking and the Federal Reserve System

    "The few who understand the system, will either be so interested from it's profits or so dependant on it's favors, that there will be no opposition from that class." -- Rothschild Brothers of London, 1863

    Some people think the Federal Reserve System was implemented fraudulently (if not very sneaky), and contrary to some very specific provisions of the Constitution about the coining of money that ruled out paper notes of credit, which is exactly what we've got now! And all without the due and necessary amendment process.

    The Federal Reserve Fraud and the "Invisible Government"
    Federal Reserve System – Banking Fraud
    Is the Federal Reserve System based on fraud?

    Some also say that recently, the Federal Reserve has committed criminal acts of fraud that actually forfeits their franchise by law.

    Federal Reserve audit forfeits franchise for securities fraud and embezzlement of $16 trillion.

    It seems these guys have done things that probably J.P. Morgan himself (who died in 1913 at age 75) would've found rather rascally...from what i've been able to learn about him recently. Or maybe not. But my view of Morgan is that he was at least an upstanding businessman, if not extremely competitive. He apparently did a deal with Andrew Carnegie for $472 Million without lawyers on a hand-shake. And i doubt he was out to kill the country - and it's workers - that offered him so much opportunity for long-term gains. Here's a partial transcript of J.P. Morgan's appearance before the Pujo Committee (Money Trust Investigation):

    J.P. Morgan Interview

    Notice where he talks about the factors that influence him to do business (offer credit etc.), talking about the "character" of the man. J.P. cared more about character than how much money or collateral anybody had. And his character? He once resigned from a fancy New York gentleman's club because a friend of his, whom he had recommended for membership, was discovered to have done manual labor early on in his life...and "black-balled" for it(whatever that means). So J.P. built the Metropolitan Club, without any regard to expense, and invited his friend to join.

    So let me ask you, if you just went by character, and left money and collateral alone, who would you prefer to see running the United States:

    Ben Bernanke and Timothy Geithner, or Ron Paul?
  2. I've been reading quite a bit about JP and Imo, I think J Dimon seems to be defending his role responsibly.I think when you see a few longtimers shit the bed (LEH, BSC)one might be a bit more diligent to the world and where you fit in.

  3. Are you a fan of JP Nutmeg?
  4. Good1


    I'm wondering if Lehman goofed, or if they were just eliminated because they were a competitor of Goldman Sachs, which was favored to survive by the Fed. Dunno. Seems to me that if Lehman could have been sacrificed (if it was) a whole lot more could've.

    But i get the point. J.P. Morgan seems to have risen up in the world of business doing deal after deal after deal that established him as a kind of master. Maybe J Dimon came up that way as well. But recently, J Dimon has been implicated in a three-part transfer of 15 $TRILLION out of the Federal Reserve System that found it's way to the Royal Bank of Scotland (and beyond?) in a roundabout kind of way.

    This report, February 27, 2012 - White Hats Report #37, has more details about that, including a S.W.I.F.T. Transmission, routing through J.P. Morgan/Chase, that they say J Dimon would've known about. This is something that British Lord Blackheath had been tracking for about two years and made public on February 16th of this year in a speech at Parliament.

    If this was actually the case, and if this "money" has been stolen, or created out of nothing and laundered, would J.P. Morgan have cooperated with it? Dunno. But i'm pretty sure he had some definition of the word "rascally" (he once used that word in testimony), and probably had limits as to how far he would go toward fitting that description.
  5. Good1


    Rascally Englishman goes to Wall Street district to buy things with absolutely blank white pieces of paper!

    Paying With Paper

    He figured this would work in the "financial capital of the world".

    I wonder if there are any lessons we can learn from this?